Current Affairs Quiz - February, 2023

Notes:
Glacial Lake Outburst Floods, or GLOFs, are sudden and powerful releases of water from glacial lakes due to the failure of a dam made of glacial materials.
GLOFs are dangerous in mountainous areas, where they can lead to flash floods, landslides, and other environmental risks. According to a new study, over 3 million individuals in India are at risk from GLOF.

Notes:
Bangladesh will start receiving electricity from the Godda power plant in Jharkhand from the first week of March.
750 megawatt power will come from the first unit of Adani power plant in Godda in March. Another 750 megawatt of power will come from the second unit of the Godda power plant in April. The Bangladesh Power Development Board (BPDB) signed an agreement with Adani group for importing electricity.

Notes:
A report titled ‘LiFE lessons from India’ was recently released by the International Energy Agency (IEA).
As per the report, the ‘Lifestyle for Environment’ or LiFE initiative of India for the adoption of energy-efficient behaviour can save the world USD 440 billion in 2030. As per the report, the saving would be equivalent to around 5% of all fuel spending across the global economy in that year.

Notes:
US Federal Reserve, the country’s central bank recently introduced Wall Street bank stress-test scenarios.
The central bank will examine the ability of the 23 biggest US lenders to withstand crisis conditions without degrading their capital. For the first time, the so-called stress test will feature an ‘exploratory market shock’ to the trading books of the largest and most complex banks.

Notes:
QR code-based coin vending machine or QCVM has been announced as a part of the recently concluded RBI Monetary policy.
QCVM is intended to dispense coins similar to how ATMs dispense currency notes. Coins can be withdrawn using the UPI QR code in designated vending machines. RBI plans to launch the product in 19 locations across 12 cities.

Notes:
Smart Cities Mission is the Indian Government’s urban renewal program that seeks to create sustainable and citizen-centric smart cities.
It is being implemented by the Union Ministry of Housing Urban Affairs in collaboration with the state governments. As many as 22 smart cities are expected to complete all projects under the Smart Cities Mission. The remaining 78 smart cities under this mission are expected to complete their projects in the next 3 to 4 months.

Notes:
Nigeria has recently announced demonetization to address corruption and bring down inflation. Its purpose is to bring back most of the money that is in circulation outside the banking system and to minimize money laundering.
Nigerians are required to turn in their old 1,000, 500 and 200 naira banknotes as part of this initiative in return for new naira notes. With the African country being largely dependent on cash, the shortage of new naira notes is causing chaos in Nigeria.

Notes:
The Emden Port is the western-most sea port in Germany’s coast. It is situated at the mouth of the Ems River into the North Sea.
The Pakistan government is providing military supplies to Ukraine via the Emden Port. It has recently dispatched rocket supplies from the Karachi port for Ukraine via the German port. More than 10,000 rockets have been shipped via this route to be used in Grad multi-barrel rocket launchers. Ukraine is helping Pakistan to upgrade its Mi-17 helicopters.

Notes:
World Radio Day is observed on February 13 to raise global awareness about the importance of radio as a medium of mass communication.
UNESCO declared this day to commemorate the establishment of the United Nations Radio in 1946. The theme for the year 2023 is ‘Radio and Peace’. It highlights the radio’s role as an independent medium of peacemaking. The subthemes for this day are ‘Support for Independent Radio’ and ‘Radio in Conflict Prevention and Peace-building’.

Notes:
Presidents’ Day is a federal holiday in the US that is celebrated on the third Monday of February every year.
The holiday is a tribute to past US presidents, particularly George Washington, who was born on February 22.  The significance of the holiday is to pay tribute to the leaders who have served the country.