Daily Current Affairs Quiz 28 December, 2024 International Affairs 1. Brahmaputra dam will not affect India, Bangladesh: China Context: Brahmaputra dam will not affect India, Bangladesh said China. Key Highlights: India’s Plan on Brahmaputra River: Govt Plans India’s Second-Largest Dam On Brahmaputra at Yingkiong In Arunachal Pradesh, To Counter China’s River Diversion Plans The Brahmaputra The Brahmaputra, a trans-boundary river which flows through Southwestern China, Northeastern India, and Bangladesh. It is the 9th largest river by discharge and 15th longest, also known as Luit in Assamese, Yarlung Tsangpo in Tibetan, Siang/Dihang River in Arunachali. 2. Impeachment of South Korean President Context: Impeachment of acting president of south-korea Han Duck-soo passed with a 192-0 vote. What is Impeachment? Impeachment of the President in India 3. Cyclone Chido in Mayotte. Context: Cyclone Chido Ruins Mayotte’s Environment and Biodiversity in Mayotte, France. Effects of Cyclone Chido: Coral Reef A coral reef is an underwater ecosystem characterized by reef-building corals. Reefs are formed of colonies of coral polyps held together by calcium carbonate.  Lagoons Lagoons are shallow bodies of water which are isolated from the wider open waters by narrow landforms such as reefs, barrier islands, or peninsulas. Coastal lagoons are distinguished from atoll lagoons and can occur even in mixed-sand and gravel coastlines. Cyclones Cyclones are powerful storms that form over warm ocean waters and are caused by atmospheric disturbances. They are formed by rapid, destructive air circulation around a low-pressure area.  4. China Launched Amphibious Assault Ship Context: China launched a new amphibious assault ship Friday, capable of launching fighter jets and designed to strengthen the navys combat ability in distant seas. Amphibious assault ships Amphibious assault ships are warships used to land and support ground forces in armed conflicts. They are developed from aircraft carriers, which are used as helicopter carriers, and modern designs support amphibious landing craft with well decks. Some ships also support V/STOL fixed-wing aircraft and have a secondary role as aircraft carriers. Also Read: J-35 Fighter Jet 5. US Mission to India Context: US Mission to India to Issues More than One Million Nonimmigrant Visas. Key Highlights: H1B Visa Programme National Affairs 1. Household Consumption and Expenditure Surveys (HCES) Context: Consumption inequality declined across rural and urban areas between Aug 2023 and July 2024 compared to the previous year, a survey showed. Key Highlights: The Gini coefficient, a statistical measure of inequality 2. Zeenat: The Tigress Context: Bengal Forest Department deploys new ‘torch’ teams to trap elusive tiger Zeenat. Key Highlights: 3. Over 40 batches of drugs are ‘not of standard’: CDSCO Context: More than 40 batches of drugs being sold in the market have been found to be not-of-standard quality (NSQ) by the Central Drug Standards Control Organisation (CDSCO) in latest survey. The Central Drugs Standard Control Organization (CDSCO) The Central Drugs Standard Control Organization (CDSCO) is the National Regulatory Authority (NRA) of India for drugs and cosmetics. It is basically responsible for ensuring the safety, quality, and efficacy of medical products within the country. Not of Standard Quality (NSQ) drugs Not of Standard Quality (NSQ) drugs refer to drugs that fail to meet quality standards or specifications. The term ‘standards of quality’ is primarily defined in the Drugs & Cosmetics Act, 1940, which means that the drug complies with the standards set out in the Second Schedule of the said Act. Banking/Finance 1. Current Account Deficit Context: The current account deficit of India in Q2 2024-25 declined to $11.2 billion, 1.2% of GDP. Key Highlights: Current Account Deficit If an economy is running a current account deficit, it is absorbing (absorption = domestic consumption + investment + government spending) more than that it is producing. This situation can arise if some other economies are lending their savings to it (in the form of debt to or direct/ portfolio investment in the economy) or the economy is running down its foreign assets such as official foreign currency reserve. Trade Deficit Merchandise Export Falls 2. RBI Permits UPI Transactions via PPI Wallets Context: The Reserve Bank of India (RBI) has decided to allow prepaid instrument holders (PPIs) to make/receive UPI payments through third-party mobile applications. Key Highlights: Prepaid payment instruments (PPIs) Prepaid payment instruments (PPIs) are financial tools which allows user to load funds in advance to purchase goods and services. PPIs are also known as prepaid cards or stored value cards. e.g. gift cards, metro rail cards and digital wallets. Third-Party Application Provider It is an entity that provides the UPI compliant app(s) to the end-user customers to facilitate UPI-based payment transactions. Some examples include mobile wallets, merchant apps, or any other platform that utilises UPI for payments. UPI: Revolutionizing Digital Payments in India 4. India’s Foreign Exchange Reserves Context: India’s foreign exchange reserves fell by $8.4 billion to $644 billion in the week ended December 20, latest data released by the Reserve Bank of India (RBI) showed. India’s Foreign Exchange Reserves 5. SEBI Issued a Directive on Transfer of Shareholdings Context: The Securities and Exchange Board of India (Sebi) issued clarifications on the transfer of shareholding among immediate relatives and the transmission of shareholding of investment advisers, research analysts, and KYC registration agencies (KRAs). Key Highlights: KYC (Know Your Customer) Registration Agencies (KRAs) KYC (Know Your Customer) Registration Agencies (KRAs) are entities that maintains KYC records in the securities market. They are registered under the Securities and Exchange Board of India (SEBI) under the KYC Regulations, 2011. Economy 1. Treasury Bills Context: Govt. plan to borrow ₹3.9 trillion through treasury bills in the fourth quarter of the current financial year. Treasury bills, or T-bills Treasury bills, or T-bills, are short-term debt instruments issued by the government to raise money for short-term needs. 2. Reforms by Dr. Manmohan Singh Agri Business 1. The Role of Solar Energy in Vertical Farming Vertical Farming 2. Kisan Kavach Context: It is designed to protect farmers from the harmful effects of pesticide exposure, this innovation marks a transformative step in ensuring farmer safety and aligns with Prime Minister Narendra Modi’s vision of using science and technology to empower the agricultural community. Key