Daily Current Affairs Quiz3 January, 2025 International Affairs 1. India EFTA Trade Pact Context: The implementation process of the free trade agreement (FTA) between India and the four nation European bloc EFTA is progressing fast and is expected to come into force before the end of this year, Commerce and Industry Minister Piyush Goyal said. India-EFTA Trade Pact 2. H1B Visa Rules Context: The contentious debate in the US on stiffening H1B visa rules, if implemented, will adversely impact US technology (tech) giants and India´s three leading information technology (IT) companies — Infosys, Tata Consultancy Services (TCS), and HCLTech — more than other homegrown tech players. What is H1B Visa? National Affairs 1. Ladki Bahin Scheme Context: The Maharashtra government has decided to take action based on complaints about bogus beneficiaries of the Ladki Bahin Yojana, and sought information from the Income Tax Department and Transport Department for their verification. Ladki Behna Yojana: Maharashtra Ladki Behna Yojana in Maharashtra: This scheme gives the state, from an economic standpoint, hope and a prospect to improve and transform the lot of women here, especially for economically weaker classes. Some Important Schemes Related to Women Empowerment and Child Development: Scheme Name Launch Date Ministry Definition PM CARES for Children Scheme May 2021 Ministry of Women and Child Development Provides support to children who lost their parents due to COVID-19, covering education, health, and personal needs. Pradhan Mantri Gati Shakti National Master Plan October 2021 Ministry of Finance An integrated infrastructure development plan that enhances connectivity and promotes economic growth, benefiting rural women and children. Poshan 2.0 (National Nutrition Mission) 2021 Ministry of Women and Child Development A revamped version of the Poshan Abhiyaan, targeting malnutrition, stunting, and improving child and maternal health. Mission Shakti 2020-2021 Ministry of Women and Child Development Empowers women through safety, security, economic empowerment, and improved decision-making opportunities. SAMBAL 2020 Ministry of Social Justice and Empowerment Aimed at providing financial assistance and schemes for marginalized communities, including women, for their upliftment. Poshan Abhiyaan 2018 Ministry of Women and Child Development Aimed at reducing malnutrition levels among children, pregnant women, and lactating mothers through improved nutritional practices. Pradhan Mantri Matru Vandana Yojana (PMMVY) 2017 Ministry of Women and Child Development Provides direct cash transfers to pregnant women for their nutritional needs and improving maternal health. Beti Bachao Beti Padhao (BBBP) 2015 Ministry of Women and Child Development A national initiative aimed at improving the welfare of the girl child, promoting education, and preventing gender-based discrimination. One Stop Centre Scheme (OSC) 2015 Ministry of Women and Child Development Provides support to women affected by violence by offering legal, medical, and psychological assistance. Swadhar Greh Scheme 2015 Ministry of Women and Child Development Provides shelter, food, and rehabilitation to women in distress, including those who are victims of violence, trafficking, and more. Ujjwala Yojana 2016 Ministry of Women and Child Development Provides financial assistance to women to prevent trafficking and provide shelter and rehabilitation. Integrated Child Protection Scheme (ICPS) 2009 Ministry of Women and Child Development Aims to provide a safe and secure environment for children, promoting their welfare through protection and care services. Skill Development Scheme for Women 2013 Ministry of Women and Child Development Focuses on enhancing the skills of women, enabling them to participate in the workforce and improve their livelihood options. National Creche Scheme 2006 Ministry of Women and Child Development Provides day-care facilities for children of working mothers to ensure their health, education, and overall development. Rashtriya Mahila Kosh (RMK) 1993 Ministry of Women and Child Development Provides micro-financing to women, enabling them to become self-reliant through small-scale entrepreneurship. 2. Right to Property Context: Right to property is a human right, the Supreme Court in a judgment on Thursday directed that compensation to people, who lost their land for the over 20,000-acre Bengaluru-Mysore Infrastructure Corridor (BMIC) project. Right to Property The Right to Property is a constitutional right in India, which is guaranteed under Article 300-A of the Constitution. 3. The PS4-Orbital Experimental Module (POEM) Context: Bellatrix Aerospace has announced that it has achieved the desired results from the Rudra High-Performance Green Propulsion System, which was onboard the POEM-4 in the recently launched PSLV C-60 mission. The PS4-Orbital Experimental Module (POEM) The PS4-Orbital Experimental Module (POEM) is a platform for the scientific community to perform in-orbit micro-gravity experiments for up to three months. It should be able to validate different proof-of-concept and enabling technologies for future missions but without generating space debris and endangering the primary payloads. Rudra System The Rudra system is part of a larger program for the development of green propulsion technologies that reduce environmental impact and increase performance. PSLV C-60 Mission 4. National Testing Agency (NTA) Context: The Centre has informed the Supreme Court that all recommendations made by the seven-member expert panel on exam reforms will be implemented, following a review of the National Testing Agency’s (NTA) conduct of NEET-UG last year. National Testing Agency (NTA) 5. Suicide Case in India Context: In India, the issue has escalated over the years, as evidenced by the NCRB data. All India suicide rates rose from 9.9 per lakh population in 2017 to 12.4 per lakh in 2022, as per NCRB Report — accidental deaths and suicides in India, 2022. World Suicide Report The World Health Organization (WHO) publishes the report on World Suicide Report. National Crime Records Bureau National Crime Records Bureau, it is a government agency under the Indian Government that collects and analyzes crime data under the Indian Penal Code and Special and Local Laws. 6. EPFO 3.0 Context: Mansukh Mandaviya, the Union Labour Minister, told journalists on Thursday that the EPFO would launch its new software system EPFO 3.0 by June this year. He said that the new system would be at par with banking systems in the country, and the site would be user-friendly. Features Employees’ Provident Fund Organisation (EPFO) Summary 7. Advanced Injectable Hydrogel for Localised Cancer Treatment Context: Researchers from IIT-G and Bose Institute, Kolkata have developed an injectable hydrogel for localised cancer treatment. Key Findings: 8.
RBI’s Liquidity Management Tools
Some lenders have asked the Reserve Bank of (RBI) to inject liquidity using foreign exchange swaps as short term currency financing costs surged to a four year high, according to people familiar with the matter. RBI’s Liquidity Management Tools Banking Liquidity Deficit
SARFAESI Act
The FIDC is a collective voice of the NBFC sector and has made some significant requests for reforms for ease of doing business and enhancing liquidity. In the request by the council, they have proposed the reduction in the loan amount threshold for invoking security interest under the SARFAESI Act from ₹20 lakh to ₹1 lakh. Finance Industry Development Council (FIDC) Finance Industry Development Council (FIDC) is a Representative Body of Asset and Loan Financing of the NBFCs registered with the Reserve Bank of India. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, is a kind of legislation through which banks recover loans taken by debtors through the sale of their movable or immovable properties through an auction process. In other words, the act aims to reduce NPAs through multiple recovery and reconstruction processes. RBI Guidelines For Asset Reconstruction Companies
6. PLI Scheme
Context: Ministry of Heavy Industries (MHI) has approved incentive claims of ₹ 246 crore submitted by Mahindra & Mahindra and Tata Motors under the ₹ 25,938 crore PLI scheme for the automobile and auto components industry, officials said. PLI Scheme
SEBI bans Ketan Parekh & 21 others
Context: The Securities & Exchange Board of India (SEBI) has unearthed a front-running scam in the securities market and debarred 22 entities, including stock brokers Singapore-based Rohit Salgaocar and Ketan Parekh, for alleged involvement and impounded ₹66 crore as ‘wrongful gains.’ What measures has Sebi introduced?
K – Shaped
Context: Nomura economists have noted that household stress in India has now become K-shaped with the increase in retail debt due to consumption borrowing. K-shaped Recovery
SEBI to Continue Probe in ZEE Listing Norm ‘Violation’
Context: The Securities and Exchange Board of India (SEBI) plans to issue a fresh show cause notice on ZEEL founder-chairman Subhash Chandra and his son Punit Goenka, citing alleged listing norm violations. What measures has Sebi introduced?
Central Government Securities
Context: States will have to pay additional premium over Central government securities to meet the record high borrowing target for three months through March, which could further pressure banking liquidity, investors said. Central Government Securities Central government securities, also known as G-Secs, are debt instruments issued by the central government to raise capital. Generally, G-Secs are considered as risk-free gilt-edged instruments, as there is almost no possibility of default. Treasury Bills Treasury Bond
Crop Insurance Schemes
The Union Cabinet has approved the continuation of Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with a total budget of ₹69,515.71 crore: Shri Shivraj Singh Chouhan. Restructured Weather Based Crop Insurance Scheme