Current Affairs Quiz - January, 2025

Notes:
China unveiled the CR450, the world’s fastest high-speed train, with test speeds of 450 km/h and a commercial speed of 400 km/h. It surpasses the CR400 Fuxing trains (350 km/h) and reflects breakthroughs in speed, energy efficiency, safety, and comfort. Developed through 200,000 km of tests, 3,000 simulations, and 2,000 platform tests. Features include water-cooled traction, high-stability bogies, and a 20% reduction in energy use. Enhances passenger comfort with noise reduction, spacious cabins, and storage for bicycles and wheelchairs. Aligns with China’s plan to expand its rail network to 70,000 km by 2035.

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:
Tamil Nadu CM MK Stalin inaugurated India’s first-ever glass bridge at Kanyakumari. The bridge connects the Vivekananda Rock Memorial and Thiruvalluvar statue. It is part of a Rs 37-crore initiative by the Tamil Nadu government. The bridge enhances the region’s tourism infrastructure.

Notes:
The World Bank launched the Business Ready (B-READY) report, replacing the paused Ease of Doing Business report. The Ease of Doing Business report was suspended in 2020 due to data manipulation and ranking integrity concerns. B-READY serves as a benchmarking tool to evaluate the global business climate and promote inclusive private sector growth. It focuses on ten core topics: Business Entry, Location, Utility Services, Labor, Financial Services, International Trade, Taxation, Dispute Resolution, Market Competition, and Insolvency.

Notes:
Maharashtra launched a 15-day campaign from January 1 to promote reading among students. Higher and Technical Education Minister Chandrakant Patil announced the initiative. Students are encouraged to read books beyond their textbooks. Colleges and universities will organize events like group reading, storytelling, book discussions, workshops, and competitions. A government resolution outlines campaign details and mandates its annual observance in January. Committees at various levels will ensure effective implementation statewide. Final winners of activities will be honored at a special event.

Notes:
Chhattisgarh became the first state in India to link its forest ecosystem with Green GDP. Chhattisgarh has introduced a plan linking forest ecosystem services to Green GDP, highlighting environmental contributions like clean air, water conservation, and biodiversity. The initiative aims to balance economic development with environmental preservation for future generations. Forest services, including climate regulation, soil enrichment, water purification, and carbon absorption, will be integrated into economic planning. With 44% forest cover, Chhattisgarh’s forests support livelihoods, provide forest products, and mitigate climate change. The plan aligns with the ‘Developed India 2047’ vision, emphasizing ecological and economic sustainability. Forest valuation will include CO2 absorption, water provision, biodiversity, and eco-tourism contributions.

Notes:
The Employees’ Provident Fund Organisation (EPFO) has fully implemented the Centralized Pension Payments System (CPPS). CPPS allows 7.85 million pensioners to access their pensions from any bank or branch nationwide. It eliminates physical verifications and ensures seamless pension disbursement. The new system replaces the decentralised model, which relied on limited agreements with specific banks. Pensioners no longer need to transfer pension payment orders (PPO) when moving or changing banks. Pension amounts are immediately credited upon release, enhancing convenience and ease of living.

Notes:
State Bank of India launched two new deposit schemes, Har Ghar Lakhpati and SBI Patrons, to provide better financial options. SBI Patrons is a fixed deposit scheme specifically for senior citizens aged 80 and above. It offers higher interest rates, acknowledging the loyalty of senior customers. Both new and existing term deposit customers can avail the SBI Patrons scheme. Depositors under this scheme earn an additional 10 basis points higher interest than standard rates for senior citizens.

Notes:
World Braille Day is observed on January 4 to highlight the importance of Braille for blind and partially sighted individuals. The United Nations General Assembly declared January 4 as World Braille Day in 2018 to honor Louis Braille, the creator of the Braille system. Braille is a tactile representation of alphabetic and numerical symbols using six dots, including symbols for music, math, and science. According to the World Health Organization, 2.2 billion people globally have vision impairments, with nearly half being preventable or unaddressed cases.

Notes:
The Union Minister of Jal Shakti released the Dynamic Ground Water Resource Assessment Report for 2024. The total annual groundwater recharge in India is 446.90 Billion Cubic Meter (BCM), with 406.19 BCM being extractable. The country’s groundwater extraction is 245.64 BCM, with an average extraction rate of 60.47%. Out of 6746 assessment units, 73.4% are categorized as ‘Safe’, while 11.1% are ‘Over-exploited’. Groundwater recharge has increased by 15 BCM since 2017, and extraction has decreased by 3 BCM. Recharge from tanks, ponds, and water conservation structures has significantly improved.