Daily Current Affairs Quiz15 April, 2025 International Affairs 1. IMF Warns Against Tariffs Context: The International Monetary Fund (IMF) warns that geopolitical risk events including wars, terrorism, trade tensions, and military conflicts — pose a serious threat to global financial stability. These events can lead to significant stock market corrections and heightened volatility, potentially destabilizing the global financial system. Research Insights from IMF Report: Increasing Global Risk Landscape: Recommendations to Financial Institutions: Conclusion: With geopolitical tensions on the rise, the IMF is sounding the alarm on the potential economic and market disruptions they may cause. Institutional preparedness through robust risk management and capital adequacy is vital for ensuring financial system stability. BS National Affairs 1. RTI Act Undermined Context: The Right to Information (RTI) Act, passed in 2005, has been instrumental in enhancing transparency and accountability in governance. Over the years, it has empowered citizens to access crucial government information, often exposing corruption, misgovernance, and misuse of power. Emerging Threat Key Changes and Implications Concerns Raised Call to Action TH 2. Kancha Gachibowli and the Urban Blind Spot Context: Urban sustainability is often treated as an abstract ideal rather than a concrete priority. Much like a physiological blind spot, it’s present but seldom acknowledged — filled in by political rhetoric or short-term economic fixes. The ongoing dispute over 400 acres of land in Kancha Gachibowli, Hyderabad reveals the stark absence of long-term environmental foresight in India’s urban planning. The Conflict: Legal Ownership vs Ecological Legitimacy Ecological Importance of Kancha Gachibowli The Deeper Problem: Sustainability as Rhetoric Silencing of Dissent and Loss of Democratic Space A City Saturated with Alternatives Core Insight: Land as Commons, Not Commodity A Call for Ecological Leadership TH 3. Gaganyaan Safety Protocols Context: As ISRO gears up for Gaganyaan, India’s first human spaceflight mission, it is meticulously designing safety protocols across all mission phases. Drawing on past incidents and global best practices, ISRO aims to ensure crew safety during launch, orbit, and reentry the three most critical phases of spaceflight. Launch Phase: Comprehensive Escape Mechanisms Pre-Launch Safety at the Launchpad Crew Escape System (CES) After Ignition 2. Orbit Phase: Onboard Support and Contingency Protocols Capsule Design In-Orbit Safety Measures ISS Docking Procedures (Though Gaganyaan won’t dock) Gaganyaan’s safety infrastructure reflects a deep commitment to astronaut well-being and mission resilience, drawing from over half a century of spaceflight learnings. From emergency escape systems to parachute-based reentry control, ISRO’s human spaceflight program is blending global insight with indigenous innovation. TH 4. Archaeological Survey of India (ASI) Explores Dwarka Context: The Archaeological Survey of India (ASI) is leading an effort to uncover the ancient history of Dwarka, a key location in India’s cultural heritage. ASI’s Underwater Archaeology Wing has conducted expeditions in Dwarka and Beyt Dwarka, Gujarat, to document submerged archaeological remains and determine the antiquity of recovered objects through scientific analysis. Dwarka Dwarka is an ancient city in the northwestern Indian state of Gujarat. It’s known as a Hindu pilgrimage site. The ancient Dwarkadhish Temple has an elaborately tiered main shrine, a carved entrance and a black-marble idol of Lord Krishna. Key Areas of Focus Historical Significance of Dwarka Past Discoveries Current and Future Plans TH 5. Parliamentary Panel Seeks CCI’s Response on Safeguarding Small Retailers Context: The Parliamentary Standing Committee on Commerce, led by TMC MP Dola Sen, has asked the Competition Commission of India (CCI) to provide a detailed response on its regulatory actions to protect small retailers who reportedly make up 20% of India’s population amid rising concerns about unfair trade practices by dominant players in e-commerce and quick commerce sectors. Key Focus Areas for CCI Legislative Context: The standing committee’s proactive stance reflects increasing pressure on regulatory authorities to tackle market concentration and ensure inclusive growth in the digital economy. The outcome of this interaction with CCI could influence future competition law reforms, particularly in India’s booming online retail landscape. BS 6. PM Vidyalaxmi Scheme Context: Despite its goal to support meritorious students from low- and middle-income families through financial aid for higher education, the PM Vidyalaxmi Scheme is witnessing low application clearance rates, with 76% of applications still pending. Public Sector Banks (PSBs) have raised serious concerns over technical and operational hurdles impeding the scheme’s rollout. Key Issues Identified by PSBs: 1. Technical Challenges: 2. Operational Limitations: 3. Application Processing Concerns: Loan & Subsidy Features: Current Performance (As on April 1, 2025): Next Steps Suggested by the Finance Ministry: The PM Vidyalaxmi scheme has strong potential to democratize access to higher education financing in India. However, technical failures and process inefficiencies are currently hindering its success. With the government’s renewed push and corrective action from PSBs, the scheme could soon meet its goals—provided operational and digital infrastructure is promptly improved. BS 7. 10 Years of PM Mudra Yojana Context: The Pradhan Mantri Mudra Yojana (PMMY) has emerged as a cornerstone of India’s financial inclusion and MSME development strategy. As it completes a decade, the scheme is being hailed for its transformative role in enhancing credit access, particularly for first-generation entrepreneurs, women, and marginalized communities. Key Contributions of MSMEs in Indian Economy: Performance of PM Mudra Yojana: Unique Features of PMMY: Impact Statistics (Cumulative): SBI’s Role in PMMY: Broader Economic & Social Impact: Forward Path: The PM Mudra Yojana has significantly altered the financial landscape for India’s small businesses. With enhanced digital integration, targeted social outreach, and an inclusive financing model, it continues to act as a catalyst for grassroots entrepreneurship and economic self-reliance. PIB Science & Tech 1. Silicon Photonics Silicon Silicon is a tetravalent metalloid and it is less reactive than its chemical analogue carbon. It is the second (after oxygen) most abundant element in the Earth’s crust, making up 25.7% of it by weight. Elemental silicon is not found in nature. Silicon photonics Silicon photonics is a technology that leverages silicon, a semiconductor material, to create photonic integrated circuits (PICs) for applications like high-speed data transfer and optical communication. It utilizes standard complementary metal-oxide-semiconductor (CMOS) manufacturing processes to fabricate photonic components on a silicon substrate.