Context: RBI took some steps to Enhance Liquidity in the Banking System. Major Announcements Context: Addressing Liquidity Deficit Expected Impact of RBI Measures
RBI Measures to Curb Digital Frauds
Key Highlights Key Actions Suggested for Banks Acknowledgement of Banks’ Role Context of the Meeting
Alcoholic Solution as Homeopathic Remedies
Regulatory Challenges Taxation Loopholes Public Health Hazards Regulatory Weakness Industry Lawfare and Bureaucratic Delays Key Questions and Solutions Public Health vs Industry Interests Policy Recommendations
Copyright Case Against OpenAI
Context: Concerns on Copyright Infringement Key Legal Issues Global Context OpenAI’s Response Impact on Indian News Industry Alcoholic Tinctures as Homeopathic Remedies: Regulatory and Public Health Concerns Regulatory Challenges Taxation Loopholes Public Health Hazards Regulatory Weakness Industry Lawfare and Bureaucratic Delays Key Questions and Solutions Public Health vs Industry Interests Policy Recommendations
India-China Relations
Context: Three months after negotiating an end to the military stand-off at the Line of Actual Control (LAC), India and China agreed to concrete measures to resume direct flights, visas, people-to-people exchanges, and the Mansarovar Yatra for pilgrims this summer. They agreed to resume the dialogue on trans-border rivers and sharing of hydrological data that China has withheld for years. Critical Accomplishments and Actions Geopolitical Implications India-China Relations Significance Technology and Digital Infrastructure Investment and Expertise Key Areas of Conflict Between India and China Border Conflicts and Territorial Claims Economic Imbalances and Trade Deficit Water Resource Disputes Cyber Threats Regional Influence Competition Strategic Alliances and Regional Tensions Diplomatic and Global Forum Tensions Ways for India to Maintain Parity with China UPSC Civil Services Examination Previous Year Question (PYQ) Prelims Q. “Belt and Road Initiative” is sometimes mentioned in the news in the context of the affairs of : (2016) (a) African Union (b) Brazil (c) European Union (d) China Ans: D Mains Q. The China-Pakistan Economic Corridor (CPEC) is viewed as a cardinal subset of China’s larger ‘One Belt One Road’ initiative. Give a brief description of CPEC and enumerate the reasons why India has distanced itself from the same. (2018)
Current Affairs 26 & 27 January 2025
Daily Current Affairs Quiz26 & 27 January, 2025 International Affairs 1. India-Indonesia Relations Context: The visiting Indonesia’s President Subianto has been the chief guest at India’s Republic Day since Indonesia’s President Sukarno attended the first Republic Day of India in 1950. Historical Importance of India-Indonesia Relations Geopolitical Cooperation and Common Concern Key Highlights of MoUs Signed Between the Countries Indonesia Joined BRICS Conclusion 2. US Exit the Paris Agreement History Weaknesses of the Paris Agreement Opportunities Amid Challenges Conclusion What is Paris Agreement? National Affairs 1. India’s Tuberculosis (TB) Elimination Program Context: India’s Tuberculosis (TB) Elimination Program Indias TB program is a key part of the National Tuberculosis Elimination Programme (NTEP) operating in line with the National Strategic Plan (NSP) for TB Elimination aimed at eradicating TB by 2025. Key Parts of the Program International Programs What is Tuberculosis (TB)? UPSC Civil Services Examination, Previous Year Questions (PYQs) Prelims Q. Which of the following are the objectives of ‘National Nutrition Mission’? (2017) Select the correct answer using the code given below: (a) 1 and 2 only(b) 1, 2 and 3 only(c) 1, 2 and 4 only(d) 3 and 4 only Ans: (a) Mains Q. “Besides being a moral imperative of a Welfare State, primary health structure is a necessary precondition for sustainable development.” Analyse. (2021) 2. Universal Health Coverage The actionable strategies for bringing Universal Health Coverage (UHC) to the doorstep of people in India are encapsulated in Mission Possible. This country houses 143 crores of populations of which 38 are children and 11 are geriatric populations-it needs solutions that are not only innovative and governed in synergy but also center around quality delivery for healthcare. Universal Health Coverage Challenges in India Key Recommendation for Strengthening Universal Health Coverage Way Forward UPSC Civil Services Examination, Previous Year Questions (PYQs) Prelims Q. Which of the following are the objectives of ‘National Nutrition Mission’? (2017) Select the correct answer using the code given below: (a) 1 and 2 only (b) 1, 2 and 3 only (c) 1, 2 and 4 only (d) 3 and 4 only Ans: (a) Mains Q“Besides being a moral imperative of a Welfare State, primary health structure is a necessary precondition for sustainable development.” Analyse. (2021) 3. India’s Space Program in 2025 Context: 2025 is going to be a year of transition for the India space program shifting from planning to mission mode with many strides towards future missions such as Chandrayaan4 and the Bharatiya Antariksh Station. International Cooperation and Space Missions Infrastructure and Testing for Future Missions Indian Space Research Organization (ISRO) 4. Guillain Barré Syndrome (GBS) Context: The Maharashtra government has formed a rapid response team as 16 patients of Guillain Barré Syndrome (GBS), an auto-immune disorder, are in the ventilator of the 101 patients in the state so far. At present, there are 19 suspected cases in the state, and one suspected case of death from Solapur. Guillain Barré Syndrome (GBS) 5. Delay in MGNREGS Funding Delay in MGNREGS Funding and Impact on Rural Workers Governments Budgeting and Allocation Practices Experts Objection Schemes Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA ) 6. Chronic Pulmonary Aspergillosis (CPA) Context: The Threat of Chronic Pulmonary Aspergillosis is rising rapidly among the Assam’s Tea Workers. Chronic Pulmonary Aspergillosis (CPA) Chronic Pulmonary Aspergillosis (CPA) is a life threatening fungal infection caused by Aspergillus fumigatus. It’s a progressive disease that can affect people with healthy immune systems. CPA is often found in people with other lung conditions, such as tuberculosis, sarcoidosis, or cystic fibrosis. It predominantly affects individuals with immunodeficiency such as tuberculosis (TB) survivors. Recommendations and Awareness Campaigns Banking/Finance 1. Multi-Asset Allocation Fund Context: Multi-asset allocation funds, which gained traction following the shift in debt fund taxation in April 2023, continued their upward trajectory in 2024, with assets under management (AUM) nearly doubling during the year. Multi-Asset Allocation Fund A “Multi Asset Allocation Fund” is a mutual fund that invests in a mix of different asset classes like equity, debt, gold, real estate, and commodities, with the objective of diversifying an investor’s portfolio and reducing overall risk by spreading investments across various markets that may react differently to economic changes; essentially, it allows investors to gain exposure to multiple asset types through a single fund, managed by a professional fund manager who adjusts allocations based on market conditions. Key Points Few Examples of the Asset Classes Incorporated 2. SBI’s Global Ed-Vantage Scheme Context: SBI has increased the limit for collateral free education loans under its Global Ed-Vantage scheme from 7.5 lakh to 50 lakh. This is for students admitted to select international universities and institutions. SBI’s Global Ed-Vantage Scheme The SBI Global Ed-Vantage scheme is an education loan by the State Bank of India (SBI) for a student who wishes to pursue higher education abroad. It covers the amount for pursuing a full-time course at a foreign university or college. Key Features of the Scheme Key Benefits of the Initiative Student Loans Problems Education Loans 3. RBI Ombudsman Annual Report Context: The Reserve Bank of India (RBI) has announced its intentions and strategies to conduct an evaluation and strengthen consumer education and protection in the retail credit sector. The move comes as the complaints about retail loans have risen sharply, especially at a time when the retail credit market is seeing explosive growth. Retail Credit Retail credit is the aggregate of consumer credit products and services, comprising loans, credit cards, and mortgage banking. Also, it incorporates business-to-business and business-to-consumer financing. What are retail credit products and services? What are retail credit facilities? Benefits of Retail Credit Facilities Key Highlights of RBI Annual Report FY24 Retail Credit Landscape Problems Retail Credit Growth and Consumer Distress 4. RBI’s Monetary Policy Committee Meeting The next RBI Monetary Policy Committee meeting is scheduled from February 5-7, 2025, as part of the FY 2024-25 schedule. Inflation and GDP Growth Given that inflation and GDP growth outcomes have been in line with expectations the MPC will consider risks to inflation and growth in deciding the way forward. Inflation Risks and External Pressures Economy 1. RBI Policy Change on MSME Financing
The Union Budget and RBI’s Monetary Policy
Context: The Union Budget and RBI’s monetary policy are two of the most significant events in India’s economic calendar which usually come at the end of February. These shape the fiscal and monetary profile of the country reflecting the strategies of the government and the RBI for pushing growth taming inflation and maintaining fiscal responsibility. Union Budget FY26 On February 1, 2025 it will set the fiscal tone for the next year and is likely to focus on fiscal consolidation and growth stimulation. Fiscal Deficit and Economic Growth Obstacles to Economic Growth The Requirement of Reforms and Growth Revitalization Privatisation and Disinvestment Opportunities Conclusion The Union Budget FY26 and RBIs monetary policy are critical in navigating India through its current economic slowdown. The government needs to focus on stimulating growth particularly through reforms and an accelerated capex push In parallel a more aggressive approach to privatisation and divestment could free up capital for reinvestment in critical sectors. Without these measures the fiscal deficit and sluggish growth might continue to pose significant challenges.
RBI Policy Change on MSME Financing
Industry Issues Background History of RBIs Policy Priority Sector Lending (PSL) Classification for NBFCs Priority Sector Lending (PSL) for Scheduled Commercial Banks (SCBs) Non Performing Assets in Priority Sector Lending (PSL) MSME Investment and Turnover Limits
RBI’s Monetary Policy Committee Meeting
The next RBI Monetary Policy Committee meeting is scheduled from February 5-7, 2025, as part of the FY 2024-25 schedule. Inflation and GDP Growth Given that inflation and GDP growth outcomes have been in line with expectations the MPC will consider risks to inflation and growth in deciding the way forward. Inflation Risks and External Pressures
RBI Ombudsman Annual Report
Context: The Reserve Bank of India (RBI) has announced its intentions and strategies to conduct an evaluation and strengthen consumer education and protection in the retail credit sector. The move comes as the complaints about retail loans have risen sharply, especially at a time when the retail credit market is seeing explosive growth. Retail Credit Retail credit is the aggregate of consumer credit products and services, comprising loans, credit cards, and mortgage banking. Also, it incorporates business-to-business and business-to-consumer financing. What are retail credit products and services? What are retail credit facilities? Benefits of Retail Credit Facilities Key Highlights of RBI Annual Report FY24 Retail Credit Landscape Problems Retail Credit Growth and Consumer Distress
