Context: Prime Minister Narendra Modi praises the journey undertaken by Persons of Indian Origin across the world and their efforts for a better society. Persons of Indian Origin (PIO) A person of Indian origin is referred to as any foreign citizen, who was either an Indian citizen or whose ancestors had been Indian citizens. PIO cards are issued and can be obtained by PIOs, which makes them eligible for visa-free stay in India up to 15 years. Constitutional Provisions
North Atlantic Treaty Organization (NATO)
Context: The United States will “always be a reliable partner” in NATO, U.S. defence chief Lloyd Austin said, after remarks by President-elect Donald Trump sparked concerns among members of the military alliance. North Atlantic Treaty Organization (NATO)
Forest Fires
Context: Fast-growing wildfires near Los Angeles have caused more than two deaths; hundreds are destroyed and scalded by hilly countryside. Forest Fire Government Initiatives UPSC Civil Services Examination Previous Year Question (PYQ) Prelims Q. Consider the following: (2019) Which of the above are released into atmosphere due to the burning of crop/biomass residue? (a) 1 and 2 only(b) 2, 3 and 4 only(c) 1 and 4 only(d) 1, 2, 3 and 4 Ans: (d) Mains: Q. Most of the unusual climatic happenings are explained as an outcome of the El-Nino effect. Do you agree? (2014)
RBI’s Regulations on Asset Qualification Norms
Context: Representatives of microfinance institutions (MFIs) raised concerns with Ministry of Finance officials regarding the Reserve Bank of India’s (RBI’s) regulations on asset qualification norms, which have been increased from 75 per cent to 85 per cent of total assets. The Reserve Bank of India (RBI) regulates asset qualification norms for banks, microfinance institutions (MFIs), small finance banks (SFBs), and non-banking financial companies (NBFCs):
Current Affairs 9 January 2025
Daily Current Affairs Quiz9 January, 2025 International Affairs 1. MAGA (Make America Great Again) Context: There is a big battle brewing between Trump and his advisor Elon Musk, who support H-1B visas, and the MAGA (Make America Great Again) group that wants jobs to go to Americans. What is H1B Visa? Make America Great Again (MAGA) “Make America Great Again,” abbreviated as MAGA, is an American political slogan officially popularized by Donald Trump during his presidential campaigns in 2016 and 2024. It refers to Trump’s political base and generated widespread clamor as a pop culture phenomenon. Originally used in the 1980 campaign of Ronald Reagan, the slogan has been denounced as racist and dog-whistle politics. 2. Greenland Context: President-elect Donald Trump has reignited interest in Greenland, proposing it as a valuable strategic addition to the U.S. territory. While the idea may sound audacious, it has sparked discussions about the island’s value, strategic significance, and feasibility of such a purchase. Greenland Greenland is an autonomous territory of Denmark, the largest of two within the Kingdom. It is one of the Overseas Countries and Territories of the European Union, and its citizens are European Union citizens. The capital is Nuuk, and it lies between the Arctic and Atlantic oceans. Greenland is the world’s largest island, and the location of the northernmost point of land, Kaffeklubben Island off the northern coast. Greenland is a significant geographical feature for a number of reasons, including its size, location, and natural resources: Greenland is an autonomous Danish dependent territory with having self-government and its own parliament. It is technically part of North America, but has been politically and culturally associated with Europe since the 9th century. 3. Human Metapneumovirus (HMPV) Context: The World Health Organization is in contact with Chinese health officials and has not received any reports of unusual outbreak patterns, its latest disease outbreak report on Human Metapneumovirus (HMPV) said. National Affairs 1. Digital Personal Data Protection Rules Context: Union Minister of Electronics and Information Technology Ashwini Vaishnaw is planning to finalize and notify the draft Digital Personal Data Protection Rules by mid-year. The Draft Digital Personal Data Protection Rules 2025 2. Joint Parliamentary Committee Context: At the first meeting of the Joint Parliamentary Committee on two Bills on conducting simultaneous polls. Joint Parliamentary Committee A joint parliamentary committee is formed in case a motion is adopted in one house and then supported or agreed upon by another house. It can also form a joint parliamentary committee by making a joint representation to the presiding chiefs of both houses where they can correspond with each other and form such a committee. What is a motion? A motion in Parliament is a proposal put forth by a member of Parliament with the intent of discussing or changing the course of the law. Parliamentary proceedings and motions are the very roots of a practice allowing legislators to debate all the topics of great public concern. ONE NATION ONE ELECTION 3. Battery Energy Storage System (BESS) Context: India’s first commercial utility-scale battery energy storage system (BESS) will be launched in Delhi. Key Highlights: Battery Energy Storage System (BESS) A battery energy storage system (BESS) is a collection of batteries that stores energy from a power plant or grid, integrating renewable energy sources like solar and wind, stabilizing the grid, reducing carbon emissions, and providing backup power during blackouts. 4. National Green Hydrogen Mission Context: “The country launched the National Green Hydrogen Mission in 2023. Our aim is to make 5 million metric tons of green hydrogen production annually by 2030. As a first step, two green hydrogen hubs will be set up, out of which one is in Visakhapatnam,” PM said. The National Green Hydrogen Mission The National Green Hydrogen Mission is a program that the Government of India launched on January 4, 2023. Green hydrogen can be produced using renewable energy sources like solar, wind, and hydropower. It can replace fossil fuels in transportation and industry, and provide a reliable source of energy. Other Initiatives Related to Renewable Energy Green Ammonia UPSC Civil Services Examination, Previous Year Question (PYQ) Prelims: Q. Hydrogen fuel cell vehicles produce one of the following as “exhaust” (2010) (a) NH3 (b) CH4 (c) H2O (d) H2O2 Ans: (c) 5. Dam Safety Act, 2021 Context: A three Supreme Court judge Bench headed by Justice Surya Kant said the Dam Safety Act, 2021, was “existing on paper” after the State of Kerala argued that “nothing has been done”, including the constitution of a National Committee on Dam Safety. Dam Safety Act, 2021: Need and Features The Salient features of the Dam Safety Act: Problems with the Act: UPSC Civil Services Examination, Previous Year Questions (PYQs) Prelims Q. On which one of the following rivers is the Tehri Hydropower Complex located? (2008) (a) Alaknanda(b) Bhagirathi(c) Dhauliganga(d) Mandakini Ans: (b) Exp: Mains Q. Suppose the Government of India is thinking of constructing a dam in a mountain valley bound by forests and inhabited by ethnic communities. What rational policy should it resort to in dealing with unforeseen contingencies? (2018) Q. What do you understand by Run-of-river hydroelectricity project? How is it different from any other hydroelectricity project? (2013) 6. Ken-Betwa River Link Project Context: Ken-Betwa River Link Project, which aims to solve the water scarcity in the Bundelkhand region that covers parts of Uttar Pradesh and Madhya Pradesh. The project also includes the construction of a dam located within the Panna Tiger Reserve, raising concerns about its submergence. Ken-Betwa River Link Project 7. The Right to Information Act 2005 The Right to Information (RTI) Act, 2005 provides rights to people with regard to receiving information from a public authority. The RTI Act came into force on June 15, 2005. The Right to Information (Amendment) Act, 2019 is Act No. 24 of 2019. It was enacted by Parliament on August 1, 2019. The Act amended the Right to Information Act, 2005. UPSC Civil Services Examination, Previous Year Question (PYQ) Q. The Right to Information Act is not all about citizens’ empowerment alone, it essentially redefines the concept of accountability.” Discuss. (2018) 8.
Basic Terms of Economy
Context: Achieving the aspirational target of increasing per capita income to attain developed country status by 2047 requires the economy to grow at an average rate of more than 8 per cent per year over the next 23 years. Per capita income (PCI) Per capita income (PCI) is a measure of the average income earned per person in a specific area over a given period of time: Purchasing power parity (PPP) Inclusive growth Inclusive growth is a concept that aims to create a society that is free, equal, and wealthy, while also reducing poverty and preserving economic freedoms. Capitalism Capitalism is an economic system where private individuals or organizations own the means of production, and prices are determined by supply and demand in a free market. The main characteristics of capitalism include: Crony Capitalism Crony capitalism is a term used to describe an economic system where businesses are able to profit due to their close ties with the government. Idea of National Income
Centre for Monitoring Indian Economy (CMIE)
Context: According to data from the Centre for Monitoring Indian Economy (CMIE), unlisted firms recorded sales growth of 8.34 per cent in the financial year 202324, compared to just 1.69 per cent for listed companies. An Unlisted Public Company An unlisted public company, also known as an unquoted public company, it is a public company that is not listed on any stock exchange. This enables it to raise finance by the issuing and sale of shares to the public, such as through advertising, but without listing on an exchange. The Centre for Monitoring Indian Economy The Centre for Monitoring Indian Economy is an independent private limited company, which is at the same time an economic think-tank and a business information company. CMIE research group has developed databases on the Indian economy and private companies. CMIE offers this information in the form of databases and research reports through a subscription-based business model.
SEBI’s Amended Rules for Independent Advisers and Research Analysts
Context: SEBI has made rules for independent advisers and research analysts more transparent and investor-friendly. Independent advisers Independent advisers are professionals who provide financial guidance and services without being affiliated with a large financial institution. They are also known as independent financial advisers (IFAs). A research analyst A research analyst is a professional who collects, analyzes, and interprets data to help businesses make informed decisions. They are often quantitative, analytical, and logical, and are good at managing numbers and data. Key Features:
SEBI Warns Ola!
SEBI, the markets regulator in India has warned Ola Electric for announcing information about its firm on social media before making a disclosure to investors. What are SEBI norms on Social Media Content? SEBI Introduces Fixed Price Process for Delisting Shares Understanding Financial Influencers Rise of Finfluencers Problems from Rise of Finfluencers Regulatory Action Previously Taken for Finfluencers:
Supervisory Restrictions of RBI
Context: The Reserve Bank of India (RBI) lifted the supervisory restrictions imposed on Chennai-based Asirvad Micro Finance Ltd., and Delhi-based DMI Finance Private Ltd. with immediate effect. The Reserve Bank of India has the following supervisory restrictions imposed on banks:
