Daily Current Affairs Quiz25 & 26 December, 2024 International Affairs 1. H1B Visa Programme Context: H1B visa programme, which mostly benefits Indian workers. The programme allows U.S. employers to hire skilled foreign professionals for specialised roles. What is H1B Visa? 2. India Yet to Formally Scrap FMR with Myanmar Context: Recently a new protocol regulating the cross-border movement of persons within 10 km of Myanmar-India border under the auspices of the Union Home Ministry has been evoked. Key Highlights: Free Movement Regime (FMR) 3. What is Australia’s Online Safety Amendment about? Context: Do India have any Such Type of Law? Although, there is no specific legal restrictions on protecting children from online harm, but India’s Digital Personal Data Protection Act, 2023 is something to focus on. India’s Digital Personal Data Protection Act, 2023 National Affairs 1. Ken-Betwa River Linking Project Context: PM Narendra Modi Lays the Cornerstone for Ken-Betwa River Linking Project. Key Highlights: Panna National Park 2. Property Cards: Record of Rights Context: Four years after the Union government launched the Svamitva scheme to digitise property records in rural areas, Prime Minister Narendra Modi will distribute 58 lakh property cards providing a “record of rights” to owners in over 50,000 villages across 12 States. The Svamitva Scheme The Svamitva Scheme, or Survey of Villages and Mapping with Improvised Technology in Village Areas, is a central sector scheme that aims to provide a clear property ownership solution for rural India. What is Record of Rights (ROR)? A Record of Rights (ROR) is a legal document that contains multiple things such as information about a land parcel, including the rights of the landowners, tenants, and assignees. 3. Mehrauli Park Context: The Archaeological Survey of India (ASI) has told the Supreme Court that two structures inside the Mehrauli Archaeological Park in Delhi bear religious significance. Mehrauli Archaeological Park The Archaeological Survey of India (ASI) The Archaeological Survey of India (ASI), founded in 1861 by Alexander Cunningham (First Director General), is a government agency in India responsible for archaeological research and cultural monument conservation. 4. Coastal Shipping Bill and the Merchant Shipping Bill Context: The soon-to-be enacted twin Bills — the Coastal Shipping Bill and the Merchant Shipping Bill — will provide a huge impetus to coastal shipping, besides enhancing Indian ship ownership and promoting ease of doing business in the country, says Union Minister for Shipping and Ports Sarbananda Sonowal. What is Shipping Bill and the Merchant Shipping Bill? 5. Indias First Visit to Kuwait Context: The first-ever visit to Kuwait by an Indian Prime Minister after 1981 has been paid by Prime Minister Narendra Modi. Key Highlights: About Kuwait India – Kuwait ‘Strategic Partnership’ 7. The Disaster Management (Amendment) Bill, 2024 Context: The Disaster Management (Amendment) Bill, 2024, raises serious concerns. Instead of filling in the gaps in the Disaster Management Act (DMA), 2005, the Bill has removed scope for participatory governance, accountability, and efficiency from the Act. Inconsistencies in the Bill Know more about The Disaster Management (Amendment) Bill, 2024 8. Tsunami in Tamil Nadu Context: December 26, 2024, marks 20 years since a devastating tsunami struck the coasts of several countries bordering the Indian Ocean, including Indonesia, Thailand, Sri Lanka, and India. What are Tsunamis? Know more>> 9. Conduct of Election Rules, 1961 Context: Congress leader Jairam Ramesh challenges amendments to the Conduct of Election Rules of 1961 that restrict access to election records for citizens. What is Conduct of Election Rules, 1961? 10. Endangered Lion-Tailed Macaque (Macaca silenus) Context: A recent study warns of a growing threat to the critically endangered lion-tailed macaque, endemic to the Western Ghats due to increasing human interaction. Lion-Tailed Macaque (Macaca silenus) The lion-tailed macaque (Macaca silenus), also known as the wanderoo, is an Old World monkey endemic to the Western Ghats of South India. Also know: Olive Ridley turtle and Irrawaddy Dolphin 11. Pegasus Context: U.S. District Court for Northern District of California ruled NSO Group Technologies liable for installing Pegasus, a spyware suite, on targeted individuals’ phones via WhatsApp. Pegasus: An Israeli Spyware for Cyber-Arms 12. Food Price Inflation in India Context: A Cabinet Minister suggested in November that the Reserve Bank of India should have a growth-oriented target rather than food price inflation. Retail and Food Inflation 13. Centre Transferring Management of Environment Relief Fund to CPCB Context: Starting January 1, 2010, the Central Pollution Control Board (CPCB) will take over the responsibility of administering the Environment Relief Fund Scheme by taking it over from the United India Insurance Company Limited (UIICL). Key Highlights: United India Insurance Company Limited (UIICL) United India Insurance Company Limited (UIICL) is one of the leading public sector general insurance companies in India. Central Pollution Control Board (CPCB) 14. EPFO adds 750k new members in October Context: The Employees’ Provident Fund Organisation (EPFO) reported a net addition of 1.34 million members in October. The surge reflects growing job opportunities and heightened awareness of social security benefits among workers. The Employees’ Provident Fund Organisation (EPFO) Banking/Finance 1. RBI review of state government finances Context: The latest report by the Reserve Bank of India on the finances of state governments gives quite a few signals about having gone in an impressive manner at the aggregate level. Context: 2. Micro Insurance Premium in Life Context: The number of micro-insurance agents at the end of FY24 stood at 102,000, of whom 19,166 belonged to public-sector life insurers and the rest to private ones. Key Highlights: Micro Life Insurance Premium Rule of Government and Supporting Policies 3. Surety Bonds in India A surety bond is a legally binding contract that provides financial protection and assurance that a party will fulfill their obligations. The Surety bond market is evolving in India, which offers an alternative to traditional bank guarantees and play a important role in managing risks associated with non-performing assets (NPAs) in the banking sector. Surety Bonds in India: Surety Bonds as an Alternative to Bank Guarantees: 4. Foreign Currency Spending in India Dips Context: India’s foreign currency expenditure shrank 14% to USD 2.4 billion in October, marking the
Pre-Provision Operating Profit (PPOP)
Net interest margin (NIM)
Net interest margin (NIM) is a financial indicator that measures the profitability of a bank or other financial institution. It is calculated by dividing the net interest income (interest income minus interest expense) by the total earning assets. NIM is a main indicator of a financial entity’s health and efficiency. It can help investors determine whether to invest in a financial services firm, and can provide insight into a firm’s cost structure:
The Indian Society for Spices (ISS)
The Indian Society for Spices (ISS) was founded in 1991 aiming the advancement of research and development in spices, aromatic and related crops.
Multipurpose Primary Agriculture Credit Societies (M-PACS)
Context: Amit Shah, the Union Home and Cooperation Minister, has inaugurated 10,000 Multipurpose Primary Agriculture Credit Societies (M-PACS). Key Highlights: Multipurpose Primary Agriculture Credit Societies (M-PACS) Primary Agricultural Credit Societies (PACS) are the primary branches of the short-term co-operative credit structure, primarily dealing with rural borrowers, providing loans, collecting repayments, and managing distribution and marketing functions. They form the base of the co-operative credit structure, linking ultimate borrowers to higher financing agencies. The Kisan Credit Card (KCC) The Kisan Credit Card (KCC) is a scheme that provides farmers with credit for their agricultural as well as non-farm needs. The scheme was introduced in 1998 by public sector banks in India. Benefits: The National Payments Corporation of India (NPCI) designs the KCC card, which is then adopted by banks with their branding.
The Kisan Credit Card (KCC)
The Kisan Credit Card (KCC) is a scheme that provides farmers with credit for their agricultural as well as non-farm needs. The scheme was introduced in 1998 by public sector banks in India. Benefits: The National Payments Corporation of India (NPCI) designs the KCC card, which is then adopted by banks with their branding.
United India Insurance Company Limited (UIICL)
United India Insurance Company Limited (UIICL) is one of the leading public sector general insurance companies in India.
Pegasus
Context: U.S. District Court for Northern District of California ruled NSO Group Technologies liable for installing Pegasus, a spyware suite, on targeted individuals’ phones via WhatsApp. Pegasus: An Israeli Spyware for Cyber-Arms
Pegasus: An Israeli Spyware for Cyber-Arms
Tsunamis
What are tsunamis? Properties of Tsunami Sources of Tsunami Formation of Tsunami Tsunami Impacts Tsunami Risk, Hazard & Mitigation Measures These are proactive measures such as advanced early warning systems, planning evacuations, public awareness initiatives.
