Current Affairs Quiz - January, 2025

Notes:
The Reserve Bank of India (RBI) released its biannual Financial Stability Report (FSR), focusing on the health and resilience of the Indian financial system. The RBI’s Financial Stability Report (FSR) highlights improvements in the banking sector’s asset quality and resilience. Scheduled Commercial Banks (SCBs) achieved a 12-year low Gross Non-Performing Asset (GNPA) ratio of 2.6% by September 2024. The Provisioning Coverage Ratio (PCR) rose to 77%, mainly due to proactive provisioning by Public Sector Banks (PSBs). The slippage ratio increased slightly to 0.7%, showing controlled NPA growth. Household debt in India reached 42.9% of GDP by June 2024, rising gradually. India’s Real GDP growth is projected at 6.6% for 2024-25, supported by rural consumption, government investments, and services exports.

Notes:
The government is focusing on a citizen-centric approach for a developed Bharat with active public participation. CPGRAMS (Centralized Public Grievance Redress and Monitoring System) plays a crucial role in addressing citizens’ concerns. From 2022 to 2024, CPGRAMS resolved over 70 lakh grievances. CPGRAMS is an online platform available 24×7 for citizens to lodge grievances related to service delivery. It functions under the Department of Administrative Reforms and Public Grievances.

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The Federal Aviation Administration (FAA) granted Blue Origin a commercial space launch license for the New Glenn rocket. The New Glenn rocket was developed by Blue Origin, an American space technology company. New Glenn is a heavy-lift, two-stage rocket named after John Glenn, the first American to orbit Earth. It stands 320 feet tall and has a 7-meter-wide payload fairing. The first stage is reusable, powered by seven BE-4 engines, producing over 3.8 million pounds of thrust. The second stage uses two BE-3U engines, powered by liquid hydrogen and oxygen, generating over 320,000 pounds of vacuum thrust.

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Indore Municipal Corporation (IMC) launched the Indore Climate Mission to make Indore the world’s first energy-literate city. IMC signed an MoU with the Energy Swaraj Foundation, leading to the mission’s launch on 30 November. The mission aims to make 5 lakh residents energy literate, a first in any Indian city. It focuses on reducing greenhouse gas emissions, promoting energy conservation, and encouraging eco-friendly lifestyles.

Notes:
Researchers at IIT Bombay have developed an affordable device to diagnose and manage tinnitus. Tinnitus is the perception of sound with no external source, often caused by age-related hearing loss, ear injury, or circulatory issues. Symptoms include sleep disturbances, depression, anxiety, and other phantom noises like buzzing or roaring. The new device offers a comprehensive approach with precise tinnitus matching, customizable treatment, and tracking tools to monitor disease progression. It aims to provide personalized care for patients based on their unique conditions.

Notes:
Confederation of Indian Industry (CII) released a report titled “Comparative Study of School Education System” (SES). The report analyzes India’s school education system in comparison with countries like the USA, UK, China, Sweden, and Australia. It focuses on various aspects, including education structures, teaching methods, funding, assessments, and equity measures. India spends only 2.7-2.9% of GDP on education, stagnating over six years, while global benchmarks suggest 5-7%. Developed countries like Sweden allocate 6.7-6.9% and the UK 5.3-5.6%, while developing nations like Indonesia and Thailand allocate 3.7-4.3% and 4.0-4.3%, respectively. Australia increased education spending by 8%, and China by 2.4%, highlighting India’s underinvestment. The study calls for raising India’s education spending to 6% of GDP and implementing NEP 2020 reforms, focusing on vocational and digital education.

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Tularemia, also called ‘rabbit fever,’ has risen by over 50% in the US recently. It is a rare but potentially deadly infectious disease. It primarily affects children aged 5-9, older men, and American Indians or Alaska Natives. Tularemia is caused by the bacterium Francisella tularensis, which can infect various animals, especially rabbits and rodents. The disease is transmitted to humans through tick bites, contact with infected animals, or contaminated water. Symptoms can range from skin ulcers to severe respiratory issues.

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Researchers in Kochi developed a captive breeding protocol for the endangered black-collared yellow catfish. This species is endemic to the Chalakudy River in Kerala and has unique genetic traits and a greenish-brown mottled appearance. It coexists with the endangered Horabagrus Nigricollaris and is classified as endangered on the IUCN Red List. The breeding program started in 2020, and the first-generation stock was successfully bred. The protocol supports conservation efforts and ensures biodiversity preservation in the Western Ghats.

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The Indian Army hosted the three-day ‘Know Your Army Mela 2025’ at Golconda Fort, Hyderabad. The event was organized by HQ Telangana and Andhra Sub Area with support from the Artillery Centre, Hyderabad. The event showcased the technological advancements and indigenous capabilities of the armed forces to connect with the public and inspire youth to consider military careers.

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Major Wall Street banks have exited the Net-Zero Banking Alliance, a prominent group in global finance. The Alliance, led by banks and convened by the UN, commits members to align lending, investments, and capital activities with net-zero greenhouse gas emissions by 2050. The United Nations Environment Programme Finance Initiative (UNEP FI) convenes the Net-Zero Banking Alliance (NZBA). It is governed by a Steering Group, including member banks, UNEP FI Secretariat, and the UN. Banks in the alliance commit to transitioning GHG emissions in their portfolios and setting 2030 and 2050 targets with updates every five years. Members must annually publish emissions data. No Indian bank is currently part of this alliance.