Daily Current Affairs Quiz22 February, 2025 International Affairs 1. India Pakistan Flag Meeting Held Amid LoC Tensions Context:Brigade Commander level flag meeting at Chakkan Da Bagh, Poonch. Focus of discussion was on latest skirmishes and how to minimise tensions. No joint statement issued, details remain undisclosed. LoC Tensions: Cross border Firing and Skirmishes Background The India Pakistan flag meeting may signify an attempt to curb rising tensions on the LoC, but continued violations in the ceasefire underscore the fragile nature of peace in the region. 2. India’s Foreign Policy India-China Relations External Affairs Minister S. Jaishankar met Chinese Foreign Minister Wang Yi on the sidelines of a G20 meeting held in Johannesburg. Key Highlights: India Bangladesh Relations Jaishankar met Bangladesh’s foreign minister Touhid Hossain in Oman. Key Highlights: Status of India regarding Gaza & Ukraine War These diplomatic engagements underscore India’s balancing act on regional security, global cooperation, and geopolitical conflicts. National Affairs 1. PM Modi’s U.S. Visit Context: Official visits of U.S. officials accompanying Prime Minister Narendra Modi on this trip are seeing partners reassessing the precincts of a new economic, trade, technology, and defense agencies towards preliminary arrangements for greater industrial cooperation and a fresh global integration. Bilateral Trade Agreement (BTA) & Economic Growth Strategic Technology Partnership – TRUST & INDUS Innovation Defense Cooperation Fortifying Industrial Linkages Energy Security & Clean Technology Infrastructure & Digital Connectivity IMEC & Undersea Cables Higher Education & Legal Mobility PM Modi’s visit drafted a strategic blueprint for collaboration on economy, technology, and defense. It has trade agreements, tech partnerships, energy cooperation, and infrastructure growth; there is no doubt that India will lift its international standing while enhancing fortification with the U.S. Industry will also have to work with government to realize these ambitious goals. 2. India’s Push for Critical Minerals Boosting Domestic Mining Under ₹16,300 Crore NCMM Tapping Hidden Resources: The Mine Waste and Tailings Processing Overview of India’s Critical Mineral Reserves Challenges that Hinder India’s Mineral Aspirations Indian Strategy for Mineral Self-Sufficiency Thanks to strategic investments, technology-driven exploration and extraction, and policy backing, India is getting ready to become a key player in the global giant in critical minerals supply chains. Nevertheless, the challenges posed by exploration and extraction will be an important milestone to cross to realize this aspiration. 3. Proposed Reforms for Change in Broadcasting & DTH Services Key Changes in DTH Service Provisions: Reforms in Broadcasting & Radio Sector Radio Broadcasting Reforms Impact Banking/Finance 1. RBI’s Project Financing Norms Context: The framework that was put in circulation in May 2023 wanted to add impairment checks so that regulation is maximally strengthened and lending procedures are brought together across the banking, NBFC, and financial institutions fold.Provisions, under the draft, mooted the requirement of 5% provisioning for construction projects, reducing to 2.5% upon completing the construction and further down to 1% for those that generate strong and steady cash flows. The banks contested that this was too high and wanted an upfront requirement of 1% during the construction period, which would later increase to 3% depending on delays. (RBI) Project Financing Framework Key Industry Concerns Brought Up for RBI’s Rebuttal RBI Position & Going Forward As the consultations are thus set to restart, the concluded project financing norms would see some changes with respect to provisioning, moratorium terms, and NPV requirements. This decision will map the landscape of infrastructure financing in India and the resilience of the banking sector. 2. Guidelines for Govt. Securities by RBI What Are Bond Forwards? RBI’s Larger Initiative In this move, the RBI strengthens its case in furthering its progress in making the financial market stronger and more diversified for the good management of interest rate risk. 3. RBI Rules Out Any Prepayment Penalty for Floating Rate Loans New Guidelines (Draft Circular February 2025) These measures continue RBI’s legacies of welfare and importance actions to improve consumer protection and transparency in the financial sector. 4. RBI to Conduct USD INR Swap Auction Swap Auction Key Features: Market Impact & Expert Views Economy 1. PLFS on Unemployment Context: Within Q1 and Q3 of FY75, the urban youth unemployment rate increased in four states and in two UTs, while five states reported bringing it down further. Challenges The International Labour Organization (ILO) noted that 83% of unemployment persons in India were youths, with the rise of educated job seekers (those with secondary and higher education) sharply increased from 35.2% in 2000 to 65.7% in 2022. Looking Ahead A Policy Agenda Agriculture 1. Does Indian Foodgrain Forget Monsoon? Major Findings from PHDCCI Report So what are the Implications & Policy Recommendations India’s Innovating Food Processing Hub Agriculture & Government Initiatives Farmer Protests & Talks on MSP Agriculture vs. Economic Performance: Top-Ranked States (Based on Agri GSDP Growth & Overall Economic Growth, FY22-FY23) Rank State Agri Rank Overall Economic Rank 1 Uttar Pradesh 1 15 2 Madhya Pradesh 2 20 3 Rajasthan 3 19 4 Telangana 4 8 5 Andhra Pradesh 5 11 6 Maharashtra 12 1 2. Urban Farming Context: Urbanization challenges faster than ever and climate changes, food scarcity, and pollution have entered the arena. An article published in Sustainability states how urban farming can assist in any of these ecological problems by boosting food security, public health, and community association. The Necessity of Urban Farming Urban Farming Technological Innovations This agricultural enterprise maximimizes food production out of utmost efficiency while combining agriculture with modern technology for limited spaces: Urban farms also manage waste by composting food scraps or turning it into energy, thus providing the greenest means of farming. Impacts of Urban Farming on Cities and People The Future of Urban Farming The Business Role in Urban Farming Urban farming is not something to consider for a passing moment; it is a necessity for the future. Through effective use of small spaces, resource wastage can be greatly reduced as cities become greener, healthier, and self-dependent. With a collaborative effort by many stakeholders, urban farming can go a long way in restoring sustainability to our Earth.