Context: Tuhin Kanta Pandey appointed as the SEBI Chairman for three years, taking the reins from Madhabi Puri Buch.Previously:DIPAM Secretary (2019 2024), responsible for India’s overall disinvestment strategy. Revenue Secretary in the Ministry of Finance prior to SEBI. Holds a Master’s in Economics from Panjab University and an MBA from the University of Birmingham. The Big Challenges for SEBI’s 11th Chief According to Pandey, a more pragmatic and rule driven approach could lead to handing SEBI more stability and predictability in its regulatory approach. His experience in finance, disinvestment, and economic policy makes him very well suited to balancing investor protection with market growth.
SEBI Launches Bond Central
Context: SEBI has launched ‘Bond Central‘, a centralized database for corporate bonds. Developed by the Online Bond Platform Providers Association with Market Infrastructure Institutions. Objectives Expected Impact Source: The Hindu
India’s Warmer March Prediction
Context: India will have above-average temperatures in March 2025 across most regions following a warmer February, the weather office forecast, conditions that could threaten winter-sown crops such as wheat, chickpea and rapeseed. Warmer March Implications for Wheat Production and Policy Wheat prices soared to record heights in February as a result of tight supplies and sell exports have mixed performance over the past three months. Reservoir Storage and Water Crisis Harsh weather threats will jeopardize food security and may affect inflation and trade policies.Wheat import changes in policy will also be expected, as heat waves could potentially reduce domestic production. Source: BS
Wetlands Conservation in India
What Are Wetlands? Types of Wetlands Benefits of Wetlands Threats to Wetlands High Court Intervention in Meghalaya Much of the World is Wetlands Conservation Efforts Wetlands in India Economic & Environmental Impact Way Forward UPSC Civil Services Examination Previous Year Question (PYQ) Prelims Q. If a wetland of international importance is brought under the âMontreux Recordâ, what does it imply? (2014) (a) Changes in ecological character have occurred, are occurring or are likely to occur in the wetland as a result of human interference. (b) The country in which the wetland is located should enact a law to prohibit any human activity within five kilometers from the edge of the wetland. (c) The survival of the wetland depends on the cultural practices and traditions of certain communities living in its vicinity and therefore the cultural diversity therein should not be destroyed. (d) It is given the status of âWorld Heritage Site.â Ans: (a) Mains Q. What is wetland? Explain the Ramsar concept of âwise useâ in the context of wetland conservation. Cite two examples of Ramsar sites from India. (2018)
Aditya L1 Captures Photo of first Solar Flare Kernel
Context: A solar flare “kernel” has been photographed by Aditya L1’s SUIT (Solar Ultraviolet Imaging Telescope) for the first time in photosphere and chromosphere. Flare Class is X6.3 class solar flare (among the most intense classes). Scientific Importance Implications for Solar Physics Mission Overview Source: The Hindu
China’s Retaliation After Trump Imposes New Tariffs on Chinese Imports
Context: President Donald Trump announced a 10% tariff on Chinese imports due to take effect on March 4.The linkage justified the move as being to do with drug flows from the North American neighbors into the territory of China. Key Highlights: Market Impact Political & Economic Implications High Level Diplomatic Engagements With the US-China trade war hovering near rebound, market volatility is at its highest, and the channels of diplomatic engagement are at their narrowest. If at all Beijing were to shift its hitherto constraining approach to adroitness in counteraction, it would have deep ramifications, both at a global supply chain and perception economic levels. Source: Business Standard
Trump, Zelenskyy and Vanceâs Heated Argument in the Oval Office
Context: An access found heated Oval Office exchange of U.S. President Donald Trump with Ukraine President Volodymyr Zelenskyy spoke about how deeply divided conditions remain regarding U.S. support for Ukraine. Key Highlights: Geopolitical Significance The Oval Office face off is the landmark moment marking the evolution in U.S. Ukraine relations. Trump’s insistence on resource based concessions to cover support and wavering on security commitments could well change the equation in the ongoing tussle. Kyiv now has to negotiate a fine diplomatic line as it weaves its dependence on Western support while still not giving in to pressure to settle with Moscow. Source: Business Standard
The India-European Union Free Trade Agreement
Context: India and the EU plan to conclude the long standing Free Trade Agreement (FTA) negotiations by the end of 2025. Simultaneously, discussions about a new strategic security and defense partnership to succeed the existing Strategic Roadmap (2020-2025) continue.Next Summit: The subsequent EU India Summit is anticipated in 2025 to formalize key agreements. Key Areas Under Discussion EUâs Demand for Lower Tariffs on Key Sectors India’s Concerns Regarding EU Sustainability Norms Government Procurement & Trade Barriers Trade Dynamics Between India-EU Challenges and the History of Negotiations A successful FTA could ensure increased trade, investment flow, and economic cooperation between India and the EU. Challenges still remain on significant issues concerning market access, sustainability standards, and regulatory alignment. Source: The Hindu
Daily Current Affairs (DCA) 28 February, 2025
Daily Current Affairs Quiz28 February, 2025 International Affairs 1. Kremlin Considers No Negotiation on Annexed Ukrainian Regions Context: Five contested Ukrainian regions, according to it, are currently ruled out by Russia from any negotiation: Crimea (2014), Donetsk, Luhansk, Zaporizhzhia, and Kherson (2022). A spokesman for the Kremlin, Dmitry Peskov, emphasized that all these territories have now become “an inseparable part” of Russia and have been declared “non negotiable”.Part of Zaporizhzhia and Kherson remains under Ukrainian control though it has been claimed so by Russia. Background Latest Developments The Implications Source: The Hindu 2. EU-India Relationships Context: Leading India-EU Ties into the Future “In this new normal of multiple conflicts around the world and competition in all ways, trusted friends are an essential ingredient,” said European Commission President Ursula von der Leyen. Key Highlights Human Rights are also EU Issues Strategic vs Rights Based India EU Approach Growth 3. EU vs. Trump Bold Assertions, Tariff Threats from Trump EUâs Strong Denial & Retaliation Plans Increasing Transatlantic Tension Whatâs at Stake? Economic & Political Fallout EU signals it wonât back down. Retaliatory tariffs could escalate into a full blown trade war. U.S.-EU relations face a crossroads with consequences for the world economy. 4. Tariffs on Canada, China & Mexico by US Context: President Donald Trump plans to impose tariffs on Canada and Mexico starting March 4, 2025, in addition to doubling the 10% universal tariff charged on imports from China. New Tariffs Announced Reasons for the Tariff Imposition Responses and Response Actions Stock Market Impact Economic Effects Trump’s tariffs seem designed to create an event that will lead to what could be tantamount to a global trade war. But it definitely has enormous economic and political consequences. Most importantly, it intends to address both drug trafficking and trade imbalances but may slow down growth, escalate prices, and put international relationships under tension. Source: The Hindu 5. Trump’s âGold Cardâ Immigration Plan What Is It? A 5 million dollar “gold card” granting green card privileges and a path towards citizenship of the United States. The Impact on Indian Graduates Replacement for EB-5 Visa Revenue for US Debt Implications National Affairs 1. Delimitation Context: The delimitation, an exercise in the country that involves the redrawing of boundaries for parliamentary and state assembly constituencies based on population changes, is an area of concern among the southern states of the country. The leaders from this region suspect that the next delimitation, planned after the 2026 census, may shrink their representation on the Lok Sabha due to the states’ success in controlling population growth. Key Concerns Threat of Losing Parliamentary Seats Differentiation in Economic and Development Levels Punishment for Population Control Policies History and Implications of Delimitation in India The delimitation process in India was adopted three times since independence: Key Events Key Challenges The Urgency of Conducting the Census Future of Delimitation and Its Impact Hurdles abound in the delimitation exercise, whereby equal representation as required by the Constitution must be gently weighed against rewarding the good governance and population control achievements. Policymakers must be brought around the table before the 2026 deadline in order to deal with the grievances of southern states and uphold the federal equation. 2. EPFO Central Board of Trustees Meeting Context: The interest rate for Provident Fund (PF) deposits for the upcoming financial year 2025-26 will be decided by the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO).The present interest rate stands at 8.25%.Workers’ Demand: Consider to add an increase in the interest due to the inflation & economic distress conditions.The finalized recommendation will go to the Ministry of Finance for approval. Implementation of the Supreme Court Directive on Increased PF Pension Changes Proposed in Employees Deposit Linked Insurance (EDLI) Scheme Workers demand a higher interest rate, but final decision varies depending upon financial feasibility.Implementation of a higher pension is being carefully monitored with the EPFO having a target of processing all cases by March 2025. 3. Drug Export Reform Export NOCs for Unapproved Drugs Made Simple Impact: With reduced bureaucracy, the export becomes fast and cheap for Indian pharma companies. New Guidelines for Biosimilars, Cell, and Gene Therapy Impact: Greater regulatory clarity enabling innovation in biotech emerging sectors. Strengthening Regulatory Oversight and Digital Integration Impact: Stronger oversight reduced compliance risks and increased co ordination. Pharma on the Rise, Hiking Exports but With Challenges Impact: Growth prospects are bright, but Indian firms must adapt to a very fast changing regulatory environment. The new and simplified process of NOCs will help exports get done in record time. The new guidelines for biosimilars and cell therapy express India’s interest in aligning with global standards. Strong regulatory oversight integrated inspections with digital methods. Pharma exports are rapidly growing, though companies must contend with regulatory roadblocks. 4. Bharat Ports Global Context: India has launched ‘Bharat Ports Global‘ to make a firm entry into international maritime geography . Formation of Bharat Ports Global Consortium Impact: Further augmentation of the global port infrastructure, as well as logistics effectiveness and trade competitiveness of India. Areas Identified for Further Strengthening Impact: Further consolidated by India’s presence in critical trade corridors whereby cargo movements become smoother. Digital Trade Facilitation: The Launch of ‘Maitri Interface’ Impact: Lesser time in processing, better efficiency in trade, and furthering sustainable economic development. Bharat Ports Global really opens up the global maritime presence for India. Heavy investments are expected in all major trade corridors (INSTC, IMEC, Eastern Maritime Corridor). Maitris digital interface will thus play a very important role towards its intended use by becoming part of cross border trade through AI & Blockchain. Source: Business Standard 5. World’s First Quantum Computing Chip- Ocelot Context: Caltech has joined forces to bring about the first quantum computing chip of Amazon here. One arrow goes by the name of Ocelot. This launches Amazon into the quantum coliseum as recently-born hardware by other companies like Google and Microsoft. New Possible Uses in Quantum Computing Features of the Ocellus Computation Chip This brings Amazon high
Fiscal Deficit: IMF vs. Government Perspective
Context: A fiscal deficit of around 3 per cent of the gross domestic product (GDP) for the central government, as advocated by the International Monetary Fund (IMF), is difficult since a significant amount of capital expenditure previously undertaken by state-owned enterprises (SOEs) has been brought onto the central government budget. The push by the government to IMF on the 3% fiscal deficit target Gradual medium term fiscal consolidation Fiscal Reform by IMF Recommendations Measures Employed to Increase Revenue Main Takeaways Expenditure Rationalization Source: Business Standard
