Daily Current Affairs January 04 & 05

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs January 04 & 05. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

TO PURCHASE OUR BANKING AWARENESS (2021 Edition) – CLICK HERE

January 04 & 05 | Daily Current Affairs 2024

Important Days – Daily Current Affairs January 04 & 05

1. What is the primary significance of World Braille Day?
A) To promote the use of Artificial Intelligence in education for the blind
B) To honor Louis Braille and highlight the importance of Braille in empowering visually impaired individuals
C) To encourage visually impaired individuals to rely solely on technology for communication
D) To mark the invention of modern educational tools for the blind
E) To introduce global initiatives for the development of advanced visual aids
Answer: B) To honor Louis Braille and highlight the importance of Braille in empowering visually impaired individuals

Event and Location:

• Event: World Braille Day 2025
• Date, Location: January 4, 2025, observed globally; NIEPVD celebrated in Dehradun.
• Purpose:
  • Honors Louis Braille, inventor of the tactile writing system.
  • Highlights the role of Braille in promoting literacy, education, and independence for visually impaired individuals.
  • Encourages making Braille accessible in schools, workplaces, and public spaces for inclusivity.

Mandates and Objectives:

• NIEPVD (Dehradun):
  • Celebrated the 216th birth anniversary of Louis Braille.
  • Released ‘Standard Bharati Braille Codes,’ a comprehensive guide to standardized Braille unicodes in India.
  • Emphasized Braille’s role as a cornerstone for education and independence for the visually impaired.
• Modern Significance:
  • Despite advances in technology, Braille remains crucial for self-reliance in spaces like ATMs and Metro Stations.
  • Students often transition from Braille to audio tools post-tenth standard, yet Braille continues to serve as a foundation.

Important Terms Explained:

• Louis Braille:
  • A French educator who developed the Braille script at the age of 15.
  • His invention continues to empower visually impaired individuals globally.
• Standard Bharati Braille Codes:
  • A guide to standardized Braille Unicodes in India, enhancing accessibility and usability for Indian languages.
• NIEPVD (National Institute for Empowerment of Persons with Visual Disabilities):
  • A premier institution in India focusing on the rehabilitation and empowerment of visually impaired individuals.

Tabular Summary:

---

Ranking – Daily Current Affairs January 04 & 05

2. What recent milestone has India achieved in its metro network development?
A) Second-largest metro network globally
B) Launch of the first water metro in Delhi
C) Surpassed Japan to become the third-largest metro network globally
D) Introduction of driverless metros across all major cities
E) Completion of metro projects in 30 Indian cities
Answer: C) Surpassed Japan to become the third-largest metro network globally

Event and Location:

• Event: India Becomes the Third-Largest Metro Network in the World
• Date: January 5, 2025
• Location: Nationwide

Mandates and Objectives:

1. Metro Network Milestone:
   • India’s metro network now covers over 1,000 km across 11 states and 23 cities.
   • Serves over 1 crore passengers daily.
   • Surpassed Japan in 2022 to become the third-largest metro network globally.
2. Prime Minister’s Involvement:
   • PM Modi inaugurated key metro projects worth ₹12,200 crore:
     • Delhi-Ghaziabad-Meerut Namo Bharat corridor: 13 km stretch.
     • Delhi Metro Phase-IV: 2.8 km Janakpuri-Krishna Park section.
     • Rithala-Kundli section: 26.5 km to improve connectivity between Delhi and Haryana.
3. Metro Innovations:
   • Driverless Metro: Launched in 2020 on Delhi Metro’s Magenta Line.
   • Under-Water Metro Tunnel: Esplanade-Howrah section inaugurated in 2024, Kolkata.
   • Kochi Water Metro: India’s first water metro project with electric hybrid boats launched in 2021.
4. Historical Milestones in Indian Metro Development:
   • 1984: First metro line (3.4 km) inaugurated in Kolkata.
   • 2002: Delhi Metro’s first corridor opened.
   • 2017: Chennai Metro’s Green Line inaugurated.
   • 2020: Completion of Kochi Metro Phase 1.
5. International Impact:
   • DMRC’s Global Reach: Oversees metro projects in Bangladesh and offers consultancy services in Jakarta, Israel, Saudi Arabia, Kenya, and El Salvador.

Important Terms Explained:

• Namo Bharat Corridor:
  • High-speed rail project connecting Delhi, Ghaziabad, and Meerut, enhancing regional connectivity.
• Driverless Metro:
  • Automated metro system operating without manual intervention, first introduced on Delhi’s Magenta Line in 2020.
• Water Metro:
  • An innovative urban transport system using electric hybrid boats, first launched in Kochi.

Tabular Summary:

---

Banking and Finance – Daily Current Affairs January 04 & 05

3. What is the primary aim of the new deposit schemes launched by SBI?
A) Increase market share in loans and advances
B) Attract deposits by offering innovative and customer-centric products
C) Promote government schemes for financial inclusion
D) Provide exclusive banking services to millennials
E) Enable seamless cross-border transactions for businesses
Answer: B) Attract deposits by offering innovative and customer-centric products

Event and Location:

• Event: SBI Launches Innovative Deposit Products
• Date: January 4, 2025
• Location: Nationwide, India

Mandates and Objectives:

1. Launch of Har Ghar Lakhpati Scheme:
   • Purpose: A pre-calculated recurring deposit scheme designed to help customers accumulate ₹1 lakh or multiples thereof.
   • Tenure: Minimum 12 months to maximum 120 months (1 to 10 years).
   • Features: Simplifies financial goal planning and saving for individuals.
2. Launch of SBI Patrons Scheme:
   • Purpose: A term deposit scheme tailored for senior citizens aged 80 years and above.
   • Enhanced Interest Rates:
     • Offers an additional 10 basis points (bps) above the rate offered to other senior citizens.
   • Eligibility: Open to both new and existing term deposit customers.
3. Interest Rate Comparison:
   • Fixed deposit rates range from 6.5% to 7%, depending on tenure.
   • Recurring deposit rates are similar to fixed deposit rates.
4. TAB-Based NRI Account Onboarding:
   • Streamlines the opening of NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts.
   • Eliminates physical paperwork by leveraging digital tools, making the process faster and more efficient.

Key Highlights:

• SBI holds a 23% market share in deposits, reflecting its leadership in the sector.
• The innovative offerings aim to strengthen SBI’s market position and align with customers’ financial aspirations.
• Chairman CS Setty emphasized the importance of innovation and inclusivity in banking to drive India’s growth towards becoming a developed nation by 2047.

Important Terms Explained:

• Har Ghar Lakhpati Scheme:
  • Encourages systematic saving through recurring deposits, targeting ₹1 lakh accumulation goals.
• SBI Patrons Scheme:
  • Designed for senior citizens (80+), offering enhanced returns to recognize their loyalty to the bank.
• NRE/NRO Accounts:
  • NRE Account: For income earned outside India, repatriable.
  • NRO Account: For income earned within India, non-repatriable.

Tabular Summary:

---

4. What is the primary objective of the merger between National Co-operative Bank and Cosmos Co-operative Bank?
A) Expand Cosmos Bank’s operations in Maharashtra
B) Address National Co-operative Bank’s weak financial health and strengthen operational reach
C) Increase deposit withdrawal limits for National Co-operative Bank
D) Reduce competition among co-operative banks in Karnataka
E) Launch new branches in Bangalore and Mysore
Answer: B) Address National Co-operative Bank’s weak financial health and strengthen operational reach

Event and Location:

• Event: RBI Approves Merger of National Co-operative Bank with Cosmos Co-operative Bank
• Date: Effective January 6, 2025
• Location: Bangalore (National Co-operative Bank) and Maharashtra (Cosmos Co-operative Bank)

Mandates and Objectives:

1. Merger Details:
   • The Reserve Bank of India (RBI) approved the merger of Bangalore-based National Co-operative Bank with Maharashtra’s Cosmos Co-operative Bank.
   • Post-merger, all 13 branches of National Co-operative Bank (12 in Bangalore and 1 in Mysore) will operate as part of Cosmos Co-operative Bank.
2. Rationale for the Merger:
   • Strengthen the financial health of National Co-operative Bank, which faced restrictions due to its weak financial position.
   • Enhance operational reach and ensure better service delivery to customers.
3. RBI Restrictions on National Co-operative Bank:
   • In July 2023, RBI capped deposit withdrawals at ₹50,000 per account.
   • Restrictions were extended till January 24, 2025.
4. Legal Framework:
   • The merger was sanctioned under Sub-Section (4) of Section 44A and Section 56 of the Banking Regulation Act, 1949.
5. Previous Mergers Involving Cosmos Bank:
   • Maratha Sahakari Bank (7 branches) and Sahebrao Deshmukh Sahakari Bank (11 branches) were merged with Cosmos Bank in FY24, highlighting a trend of co-operative bank consolidations.

Important Terms Explained:

• Cosmos Co-operative Bank:
  • Established in 1906, headquartered in Pune, Maharashtra, Cosmos is one of India’s oldest and largest multi-state co-operative banks.
• Banking Regulation Act, 1949 (Section 44A):
  • Governs the voluntary amalgamation or merger of banking companies in India.
• Co-operative Bank Consolidation:
  • Mergers of co-operative banks aim to improve financial stability, address operational inefficiencies, and protect depositors.

Tabular Summary:

---

5. What is the primary feature of the EPFO’s Centralized Pension Payments System (CPPS)?
A) Pensioners receive pensions only from their home branch
B) Decentralized disbursement of pensions through regional offices
C) Pensioners can withdraw pensions from any bank branch in India
D) Direct pension disbursement via regional EPFO offices only
E) Pension payments limited to state-operated banks
Answer: C) Pensioners can withdraw pensions from any bank branch in India

Event and Location:

• Event: Launch of EPFO’s Centralized Pension Payments System (CPPS)
• Date: January 4, 2025
• Location: Nationwide

Mandates and Objectives:

1. Key Features of CPPS:
   • Nationwide Accessibility: Pensioners can access their pensions from any bank branch across India, removing the need for branch-specific pension withdrawals.
   • Streamlined Disbursement: The system ensures efficient, seamless pension payments, modernizing the pension disbursement process.
2. Financial Disbursement:
   • In December 2024, the EPFO disbursed ₹1,570 crore to over 68 lakh pensioners through its 122 regional offices.
3. Historical Context:
   • Previously, pensions were disbursed through decentralized systems managed by regional offices with individual bank agreements.
   • Challenges included delays and complexities for pensioners needing to change bank branches or relocate.
4. Future Implications:
   • The CPPS promotes ease of living for pensioners, enhancing financial inclusion and social security.
   • Facilitates faster, hassle-free pension access, reducing administrative bottlenecks.

Important Terms Explained:

• EPFO (Employees’ Provident Fund Organisation):
  • A statutory body under the Ministry of Labour and Employment, tasked with managing provident fund contributions, pension schemes, and insurance for employees in India.
• Centralized Pension Payments System (CPPS):
  • A unified pension disbursement platform enabling seamless access to pension funds from any bank branch.

Tabular Summary:

---

Business and Economy – Daily Current Affairs January 04 & 05

6. What is the expected agricultural credit flow for FY25 as per NABARD’s projections?
A) ₹25-lakh crore
B) ₹28-lakh crore
C) ₹30-lakh crore
D) ₹21-lakh crore
E) ₹24-lakh crore
Answer: B) ₹28-lakh crore

Event and Location:

• Event: NABARD Expects Agricultural Credit Flow to Surpass ₹28-Lakh Crore in FY25
• Date: January 5, 2025
• Location: New Delhi

Mandates and Objectives:

1. Agricultural Credit Growth:
   • Agricultural credit flow for FY25 is projected to exceed ₹28-lakh crore, significantly higher than the targeted ₹25-lakh crore.
   • This marks the second consecutive year of outperformance.
2. Rural Demand as a Growth Driver:
   • Rural consumption growth outpaced urban demand in FY25.
   • Indicators like two-wheeler sales (+14%), three-wheeler sales (+7.6%), and tractor sales (+4.33%) (April–November 2024) highlight robust rural demand.
3. Key Contributing Factors:
   • Formalisation of rural credit, reducing reliance on informal credit sources.
   • Support from schemes like Kisan Credit Cards and Agricultural Infrastructure Fund with capped interest rates.
   • Improved rural infrastructure under initiatives like Pradhan Mantri Gram Sadak Yojana (PMGSY), electrification, and digital connectivity.
4. Economic Highlights:
   • Agriculture and services sectors drove economic growth in Q2 and H1 of FY25.
   • Healthy Kharif production, above-normal monsoons, and adequate reservoir levels supported agricultural growth.
5. Innovation in Agriculture:
   • NABARD has deployed ₹700 crore through NABVENTURES Fund I to support rural innovation.
   • Plans to launch NABVENTURES Fund II worth ₹1,000 crore for climate-focused ventures in FY26.

Important Terms Explained:

• Kisan Credit Card (KCC):
  • A scheme offering short-term credit to farmers at subsidized interest rates.
• NABVENTURES Fund:
  • A venture capital fund by NABARD supporting agriculture and rural-focused innovations.
• Pradhan Mantri Gram Sadak Yojana (PMGSY):
  • A rural infrastructure scheme aimed at improving road connectivity in villages.

Tabular Summary:

---

7. Why is BharatPe selling 25% of its stake in Unity Small Finance Bank?
A) To exit the banking sector completely
B) To meet RBI’s regulatory requirements and raise funds
C) To focus exclusively on its digital payment business
D) To merge Unity Small Finance Bank with another financial entity
E) To acquire another co-operative bank
Answer: B) To meet RBI’s regulatory requirements and raise funds

Event and Location:

• Event: BharatPe to Sell 25% Stake in Unity Small Finance Bank
• Date: Announced on January 4, 2025
• Location: India

Mandates and Objectives:

1. Stake Sale Overview:
   • BharatPe, holding a 49% stake in Unity Small Finance Bank (Unity Bank), plans to sell 25% of its stake.
   • The sale is expected to raise $800 million (₹6,500 crore).
2. Regulatory Requirement:
   • As per RBI guidelines, BharatPe’s parent company, Resilient Innovation Pvt Ltd, must reduce its stake in Unity Bank to 10% by 2029.
3. Facilitator:
   • BharatPe has appointed Rothschild & Co to oversee the stake sale.
4. Unity Small Finance Bank Highlights:
   • Established in November 2021 as a joint venture between Centrum Financial Services and BharatPe.
   • Recognized for acquiring the troubled PMC Bank soon after its launch.
   • Q2 FY24 Profit: ₹187 crore (up from ₹138 crore in the previous year).
   • Total Income Growth: 77%, reaching ₹640 crore.
5. BharatPe’s Objectives:
   • Meet regulatory compliance requirements.
   • Use funds to expand core financial services and launch new fintech products.

Important Terms Explained:

• Unity Small Finance Bank:
  • A digital-first small finance bank focusing on seamless banking for small businesses and consumers.
• PMC Bank Acquisition:
  • Punjab and Maharashtra Co-operative Bank, acquired by Unity Bank, marked a milestone in banking consolidation.
• Rothschild & Co:
  • A global financial advisory group assisting BharatPe in managing the stake sale.

Tabular Summary:

---

8. Why is India revising the GDP base year from 2011-12 to 2022-23?
A) To align with global GDP standards
B) To better reflect current economic changes and emerging sectors
C) To simplify the calculation of GDP growth rates
D) To increase the frequency of GDP estimates
E) To replace outdated methodologies with AI-driven tools
Answer: B) To better reflect current economic changes and emerging sectors

Event and Location:

• Event: India Revises GDP Base Year to 2022-23
• Date Announced: January 4, 2025
• Implementation Timeline: Early 2026

Mandates and Objectives:

1. Rationale for the Revision:
   • The update aims to align GDP calculations with the current economic structure, shifts in consumption patterns, and emerging sectors in the economy.
   • Regular base year revisions ensure more accurate national accounts and better policy decisions.
2. Advisory Committee on National Accounts Statistics (ACNAS):
   • A 26-member committee chaired by Biswanath Goldar.
   • Includes members from the RBI, central/state governments, and academic institutions.
   • Tasked with identifying new data sources and refining methodologies for the revised GDP series.
3. Implementation Details:
   • The 2022-23 base year will replace the current 2011-12 base year by early 2026.
   • Extensive data collection and analysis are required to ensure accuracy.
4. Additional Initiatives by MoSPI:
   • Launch of monthly estimates for the Periodic Labour Force Survey (PLFS) from January 2025 to enhance labor market statistics.
5. Expected Benefits:
   • Improved accuracy of GDP estimates.
   • Better representation of structural changes and sectoral shifts in the economy.
   • Enhanced framework for economic analysis and policymaking.

Important Terms Explained:

• GDP Base Year:
  • The year used as a benchmark for comparing economic activity across time periods.
• Periodic Labour Force Survey (PLFS):
  • A survey conducted by MoSPI to measure employment, unemployment, and labor market trends in India.
• Ministry of Statistics and Programme Implementation (MoSPI):
  • Responsible for compiling, analyzing, and publishing statistical data in India, including the GDP.

Tabular Summary:

---

Appointments – Daily Current Affairs January 04 & 05

9. Who has been appointed as the new Director-General of the Directorate General of Civil Aviation (DGCA)?
A) Vikram Dev Dutt
B) D.C. Sharma
C) Faiz Ahmed Kidwai
D) Suresh Prabhu
E) Ajay Kumar Bhalla
Answer: C) Faiz Ahmed Kidwai

Event and Location:

• Event: Appointment of Faiz Ahmed Kidwai as DGCA Director-General
• Date: January 4, 2025
• Location: New Delhi

Key Details:

1. Appointment Highlights:
   • Faiz Ahmed Kidwai, a 1996-batch IAS officer from the Madhya Pradesh cadre, has been appointed as the Director-General (DG) of the Directorate General of Civil Aviation (DGCA).
   • The position was vacant after his predecessor, Vikram Dev Dutt, was promoted to Secretary in the Ministry of Coal.
   • Approved by the Appointments Committee of the Cabinet.
2. Previous Roles:
   • Kidwai served as Additional Secretary in the Ministry of Agriculture and Farmers’ Welfare.
   • Interim Leadership: D.C. Sharma, Joint DG, managed the DGCA’s responsibilities before Kidwai’s appointment.
3. Challenges for Kidwai:
   • Pilot Duty and Rest Norms:
     • January 2024 rules increased weekly rest for pilots from 36 to 48 hours and reduced night flying hours to combat fatigue.
     • Airlines like IndiGo and Air India raised concerns over operational challenges due to these changes.
   • Court-Ordered Mediation:
     • Delhi High Court directed the DGCA to mediate between airlines and pilot groups to finalize an implementation timeline.
     • Next hearing scheduled for January 23, 2025.
4. Proposed Implementation Plans by Airlines:
   • IndiGo: Gradual implementation of rest norms from June 2025 to July 2026.
   • Air India: Committed to implementing the 48-hour weekly rest rule from June 2025.

Important Terms Explained:

• DGCA (Directorate General of Civil Aviation):
  • India’s regulatory authority for civil aviation, ensuring safe and efficient air transport.
• Pilot Duty and Rest Norms:
  • Regulations set by DGCA to mitigate pilot fatigue and ensure flight safety, including increased rest hours and reduced night flying schedules.
• Appointments Committee of the Cabinet (ACC):
  • A government body responsible for high-level appointments in India, including top bureaucratic posts.

Tabular Summary:

---

International Affairs – Daily Current Affairs January 04 & 05

10. What is the primary goal of the World Bank’s $20 billion “Pakistan Country Partnership Framework 2025-35”?
A) Focus on small, short-term investments in diverse sectors
B) Protect funded projects from political transitions and prioritize six targeted areas
C) Expand Pakistan’s higher education system and telecom infrastructure
D) Support only transport and power transmission projects in Pakistan
E) Provide immediate financial aid for economic stabilization
Answer: B) Protect funded projects from political transitions and prioritize six targeted areas

Event and Location:

• Event: World Bank’s $20 Billion Partnership Framework for Pakistan
• Date: Announced on January 6, 2025
• Location: Islamabad

Mandates and Objectives:

1. Framework Overview:
   • Name: Pakistan Country Partnership Framework (2025-35)
   • Total Lending: $20 billion from the World Bank over 10 years.
   • Additional Private Lending: $20 billion through the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA).
   • Focus: Mitigate risks of political instability and ensure sustained impact of projects.
2. Six Targeted Areas:
   • Reduce Child Stunting: Combat malnutrition and improve child health.
   • Combat Learning Poverty: Enhance education quality and accessibility.
   • Enhance Climate Resilience: Focus on disaster preparedness and climate adaptation.
   • Decarbonize the Environment: Promote sustainable practices and reduce carbon emissions.
   • Expand Fiscal Space: Strengthen financial policies and reduce debt vulnerabilities.
   • Boost Private Investment: Improve productivity through private sector participation.
3. Funding Sources:
   • $14 billion from the International Development Association (IDA) (concessional loans).
   • $6 billion from the International Bank for Reconstruction and Development (IBRD) (higher-cost loans).
4. Key Goals:
   • Phase out funding from low-impact sectors like transport and telecoms.
   • Transition towards larger, selective, and stable investments.
   • Support reforms to drive growth, fiscal stability, and investment.

Important Terms Explained:

• International Development Association (IDA):
  • World Bank’s concessional lending arm, offering low-interest loans to low-income countries.
• International Bank for Reconstruction and Development (IBRD):
  • Provides loans at market rates to middle-income and creditworthy low-income countries.
• International Finance Corporation (IFC):
  • World Bank’s private sector arm, promoting private investment in developing countries.
• Multilateral Investment Guarantee Agency (MIGA):
  • Provides political risk insurance to encourage foreign direct investment in developing nations.

Tabular Summary:

---

National Affairs – Daily Current Affairs January 04 & 05

11. What is the primary aim of the three-day Poly Techfest starting on January 6, 2025, in Vijayawada?
A) Promote entrepreneurship among students
B) Encourage innovation, scientific thinking, and research among polytechnic students
C) Celebrate the achievements of industrial workers
D) Provide vocational training to unemployed youth
E) Promote collaboration between schools and polytechnics
Answer: B) Encourage innovation, scientific thinking, and research among polytechnic students

Event and Location:

• Event: Three-day Poly Techfest
• Date, Location: January 6–8, 2025, SS Convention Hall, Vijayawada
• Inauguration: Kona Sashidhar and G. Ganesh Kumar (January 6)
• Chief Guest: Andhra Pradesh HRD Minister Nara Lokesh (January 7)

Mandates and Objectives:

• Promoteinnovation culture, scientific thinking, and research among polytechnic diploma students.
• Showcase 249 exceptional projects selected from regional-level tech festivals held in December 2024.
• Encourage skill development under the Skill Andhra Pradesh Programme.
• Recognize top projects with cash awards: ₹1,00,000 (1st), ₹50,000 (2nd), ₹25,000 (consolation).

Important Terms Explained:

• Skill Andhra Pradesh Programme:
  • A government initiative to promote skill development and encourage innovation in Andhra Pradesh.
  • Supports educational and research initiatives among students, particularly in technical fields.

Tabular Summary:

---

12. What is the primary purpose of the newly launched ‘e-student visa’ and ‘e-student-x visa’ by the Government of India?
A) Facilitate employment opportunities for international students
B) Simplify visa processes for international students and their dependents
C) Offer scholarships to international students
D) Promote short-term tourism through student programs
E) Provide free education to international students
Answer: B) Simplify visa processes for international students and their dependents

Event and Location:

• Event: Launch of Two Special Category Visas for International Students
• Date, Location: January 5, 2025, New Delhi
• Introduced By: Ministry of Home Affairs, Government of India

Mandates and Objectives:

• Facilitate international students pursuing higher education in India through the e-student visa.
• Enable dependents of international students to accompany them via the e-student-x visa.
• Streamline admission and visa processes through the Study in India (SII) portal.

Important Terms Explained:

• e-Student Visa:
  • Issued to foreign students admitted to recognized undergraduate, postgraduate, doctoral, or certificate programs in India.
  • Valid for up to five years with an extension option available in India.
• e-Student-X Visa:
  • Issued to dependents of e-student visa holders to accompany them in India.
• Study in India (SII) Portal:
  • Government platform facilitating the admission of international students to Indian institutions.
  • Offers over 8,000 courses through partnerships with 600+ institutions.

Tabular Summary:

---

13. What is the significance of the 13-km section of the Delhi-Meerut RRTS corridor inaugurated by PM Modi?
A) It connects Delhi to the Meerut University campus.
B) It marks the entry of Namo Bharat into the national capital.
C) It is the final stretch of the Delhi-Meerut RRTS corridor.
D) It is the first metro corridor in the region to feature driverless trains.
E) It includes the construction of a new railway station in Sarai Kale Khan.
Answer: B) It marks the entry of Namo Bharat into the national capital.

Event and Location:

• Event: PM Modi Inaugurates 13-km Section of Delhi-Meerut RRTS Corridor
• Date, Location: January 5, 2025, New Delhi
• Inaugurated By: Prime Minister Narendra Modi

Mandates and Objectives:

• Marks the extension of the Delhi-Meerut Regional Rapid Transit System (RRTS) into New Delhi.
• Route Details: Covers the stretch from Sahibabad in Ghaziabad to New Ashok Nagar in Delhi.
• Features of RRTS:
  • Seamless connectivity with public transport modes like buses and metro.
  • Coaches with reserved spaces for women, the elderly, and differently-abled individuals (“Divyangjans”).
  • Designated spaces for wheelchairs and stretchers, along with train attendants.
• Progress:
  • The entire corridor spans 82 km from Sarai Kale Khan (New Delhi) to Modipuram (Meerut).
  • 17-km priority section inaugurated in October 2024 (Sahibabad to Duhai Depot).
  • Total operational length after this inauguration: 51 km.

Tabular Summary:

---

14. What is the primary significance of the Omkareshwar Floating Solar Park in Madhya Pradesh?
A) It is the first solar park in India.
B) It addresses land constraints with innovative floating solar technology.
C) It uses wind and solar hybrid energy for power generation.
D) It has the smallest renewable energy capacity in India.
E) It exclusively powers Madhya Pradesh’s local grid.
Answer: B) It addresses land constraints with innovative floating solar technology.

Event and Location:

• Event: Visit to Omkareshwar Floating Solar Park
• Date: January 4, 2025
• Location: Khandwa district, Madhya Pradesh
• Visited By: Union Minister of New and Renewable Energy, Pralhad Joshi

Mandates and Objectives:

• The Omkareshwar Floating Solar Park is India’s largest floating solar project with a planned capacity of 600 MW.
• Addresses land constraints by utilizing floating solar technology, which enhances efficiency through the cooling effect of water.
• Aims to generate over 4,600 million units of clean energy over the next 25 years.
• Demonstrates India’s commitment to clean energy and sustainable development under the guidance of Prime Minister Narendra Modi and Madhya Pradesh Chief Minister Mohan Yadav.

Key Highlights:

• Current Status:
  • 278 MW commissioned; remaining capacity under development.
  • Total cost: ₹330 crore, supported by Central Financial Assistance of ₹49.85 crore.
• Collaborating Entities:
  • Rewa Ultra Mega Solar Limited
  • NHDC Ltd
  • AMP Energy Green Pvt Ltd
  • SJVN Ltd
• Madhya Pradesh’s contribution to renewable energy:
  • Renewable energy capacity has grown 14 times in the past 12 years, from less than 500 MW (2012) to significant current levels.

Important Terms Explained:

• Floating Solar Technology:
  • Solar panels installed on floating platforms over water bodies to save land and enhance energy efficiency.
• Rewa Ultra Mega Solar Limited (RUMSL):
  • A joint venture between the Solar Energy Corporation of India (SECI) and the Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) to implement solar projects.
• NHDC Ltd:
  • National Hydroelectric Development Corporation, which plays a significant role in renewable energy development.

Tabular Summary:

---

15. What was the primary focus of the projects inaugurated and launched by PM Modi on January 5, 2025?
A) Expansion of traditional medicine systems in India
B) Enhancing regional connectivity and modernizing healthcare
C) Developing logistics hubs across Delhi-NCR
D) Facilitating international trade through industrial corridors
E) Establishing new residential complexes in Delhi
Answer: B) Enhancing regional connectivity and modernizing healthcare

Event and Location:

• Event: PM Modi inaugurates and lays foundation stones for development projects
• Date: January 5, 2025
• Location: Delhi

Mandates and Objectives:

1. Enhancing Regional Connectivity:
   • Inauguration of Delhi-Ghaziabad-Meerut Namo Bharat Corridor (13 km stretch from Sahibabad to New Ashok Nagar, ₹4,600 crore).
   • Delhi gets its first Namo Bharat connectivity, easing travel between Delhi and Meerut.
   • Inauguration of the Janakpuri-Krishna Park section of Delhi Metro Phase-IV (2.8 km, ₹1,200 crore).
     • Benefits areas like Krishna Park, Vikaspuri, and Janakpuri in West Delhi.
   • Foundation stone laid for the Rithala-Kundli section of Delhi Metro Phase-IV (26.5 km, ₹6,230 crore).
     • Connects Rithala (Delhi) to Nathupur (Kundli, Haryana), improving connectivity for Rohini, Bawana, Narela, and Kundli.
2. Modernizing Healthcare:
   • Foundation stone for Central Ayurveda Research Institute (CARI) in Rohini, Delhi, ₹185 crore.
   • New state-of-the-art facility to include OPD, IPD, and Treatment Blocks for integrated healthcare.
3. Infrastructure Development Goals:
   • Strengthen urban mobility across Delhi-NCR, adding to India’s 1,000 km metro network milestone.
   • Facilitate modern connectivity and economic growth via metro extensions and industrial corridors.

Important Terms Explained:

• Namo Bharat Corridor:
  • Part of the Regional Rapid Transit System (RRTS) designed for high-speed, reliable regional transit.
• Delhi Metro Phase-IV:
  • Includes new metro extensions to connect underserved regions in Delhi-NCR.
• Central Ayurveda Research Institute (CARI):
  • A premier institute promoting research and healthcare in Ayurveda under the AYUSH Ministry.

Tabular Summary:

---

16. What is the primary goal of Gujarat’s ‘Mission Bee’ programme?
A) Promote organic farming practices among farmers
B) Double farmers’ income through beekeeping and honey production
C) Replace animal husbandry with apiculture
D) Eliminate the need for traditional farming methods
E) Focus solely on honey exports from Gujarat
Answer: B) Double farmers’ income through beekeeping and honey production

Event and Location:

• Event: Launch of Gujarat’s ‘Mission Bee’ Programme
• Date: Launched in 2022-23; continues actively in 2024-25
• Location: Gujarat, with focus on Anand, Kheda, and Mahisagar districts

Mandates and Objectives:

• Encourage farmers to adopt beekeeping as an additional income source.
• Support the production, processing, packaging, and marketing of honey and bee-related products.
• Enhance farmers’ incomes while benefiting the environment through improved crop yields via cross-pollination.

Key Features of Mission Bee:

• Training and Support:
  • Farmers receive guidance, training, and resources for honey production.
  • ₹10,000, 10 bee boxes, and a honey extractor for every five farmers.
• Economic Impact:
  • 284 farmers produced 16,000 kg of honey in Anand, Kheda, and Mahisagar districts.
  • Amul Dairy processed 2 tonnes of honey and established direct sales channels.
  • Farmers recovered 75% of their investment within the first year.
• Environmental Benefits:
  • Bee cross-pollination improves crop yields, fruit, and seed quality.
  • Supports sustainable agriculture by enhancing biodiversity.

Additional Achievements:

• In 2022-23, ₹53 lakh allocated to Junagadh Agricultural University for bee breeding projects.
• In 2024-25, Amul Dairy’s project received ₹127.43 lakh in financial assistance.

Important Terms Explained:

• Bee-related Products:
  • Include honey, wax, royal jelly, bee venom, and gum, which create diverse income opportunities.
• Amul Dairy:
  • Cooperative organization in Gujarat known for its dairy products and now expanding into honey production under the ‘Mission Bee’ program.

Tabular Summary:

---

17. What is the primary target of the Indian Textile Ministry by 2030 as stated by Textile Minister Giriraj Singh?
A) Increase India’s textile exports to $100 billion
B) Achieve a $300 billion market size and generate 6 crore jobs
C) Double India’s cotton production and exports
D) Expand India’s handloom industry globally
E) Establish 100 new textile technology institutes
Answer: B) Achieve a $300 billion market size and generate 6 crore jobs

Event and Location:

• Event: Textile Ministry’s Ambitious Target for 2030
• Date: January 5, 2025
• Location: New Delhi

Mandates and Objectives:

1. Market Expansion Goals:
   • Expand India’s textile market from the current $176 billion to $300 billion by 2030.
   • Achieve textile exports of $65 billion by FY26.
2. Employment Generation:
   • Create 6 crore jobs within the textile value chain.
3. Export Growth:
   • In October 2024:
     • Textile exports rose by 11.56% ($1,833.95 million).
     • Apparel exports increased by 35.06% ($1,227.44 million).
   • April–October 2024:
     • Textile exports grew by 4.01%; apparel exports rose by 11.60%.
4. New Infrastructure Development:
   • Inauguration of Indian Institute of Handloom Technology (IIHT) at Fulia, Nadia, West Bengal.
   • Features:
     • Built on 5.38 acres with an expenditure of ₹75.95 crore.
     • Includes smart classes, a digital library, and modern testing labs.
     • Aims to serve students from West Bengal, Bihar, Jharkhand, and Sikkim.
5. Future Projections:
   • Domestic textile market valued at $165 billion (2022) projected to grow at a CAGR of 10% to reach $350 billion by 2030.

Important Terms Explained:

• Indian Institute of Handloom Technology (IIHT):
  • Institutes specializing in handloom and textile education, promoting skill development and technological advancements in the handloom sector.
• CAGR (Compound Annual Growth Rate):
  • The rate of return required for an investment to grow from its beginning balance to its ending balance, assuming profits are reinvested annually.
• Invest India:
  • The central government’s investment promotion and facilitation agency, responsible for promoting investment opportunities in India.

Tabular Summary:

---

18. Why is the government launching another round of the PLI scheme for the steel sector?
A) To increase the production of generic steel
B) To address low participation in the first round of the scheme
C) To focus on exports of steel to global markets
D) To expand the application of the PLI scheme to new sectors
E) To replace traditional steel production methods
Answer: B) To address low participation in the first round of the scheme

Event and Location:

• Event: Launch of PLI Scheme 1.1 for the Steel Sector
• Date: January 6, 2025
• Location: New Delhi

Mandates and Objectives:

1. PLI Scheme for Steel Sector:
   • Initially launched in November 2020 to boost domestic manufacturing of specialty steel.
   • The first round attracted ₹27,106 crore in investments, creating 14,760 direct jobs and targeting 7.90 million tonnes of specialty steel production.
   • By November 2024, companies had invested ₹18,300 crore and generated 8,660 jobs.
2. Launch of PLI Scheme 1.1:
   • Address low response in the first round to attract higher participation.
   • Encourage domestic production of high-grade steel to reduce imports and support key sectors like defence, automobile, and electrical industries.
   • Enhance capital investments and boost employment in the steel industry.
3. Significance of Specialty Steel:
   • High-grade steel used in critical industries such as defence, automotive, and electrical.
   • Aims to reduce reliance on imports and improve India’s self-sufficiency in steel production.
4. Background of PLI Scheme:
   • Introduced during the COVID-19 pandemic in 2020 to boost domestic manufacturing.
   • Initially launched for three sectors, later expanded to include steel and other industries.

Important Terms Explained:

• PLI Scheme (Production-Linked Incentive):
  • A government initiative to incentivize domestic manufacturing by linking financial incentives to incremental production.
  • Aims to reduce imports and promote self-reliance.
• Specialty Steel:
  • High-grade steel designed for specific applications in sectors such as defence, automotive, and electrical.
  • Includes products like stainless steel, alloy steel, and electrical steel.

Tabular Summary:

---

19. What key change has the government introduced for assessing crop losses in India?
A) Manual assessments by village officials
B) Use of satellite-based remote sensing technology
C) Field visits by central government teams
D) Increased insurance premiums for farmers
E) Artificial intelligence-based predictive models
Answer: B) Use of satellite-based remote sensing technology

Event and Location:

• Event: Agriculture Minister Reviews Schemes and Plans for FY25
• Date: January 4, 2025
• Location: New Delhi

Mandates and Objectives:

1. Expected Growth:
   • The agriculture and allied sectors are projected to grow by 3.5% to 4% in FY25.
2. Crop Loss Assessments:
   • Transition from manual assessments to satellite-based remote sensing technology for accurate and timely data.
   • Ensures precise transfer of compensation to farmers via Direct Benefit Transfer (DBT).
3. Key Schemes Highlighted:
   • PM-KISAN: Distributed ₹3.46 lakh crore to 11 crore farmers in 18 installments.
   • Pradhan Mantri Fasal Bima Yojana (PMFBY):
     • Covers 14.28 crore farmers and 602 lakh hectares of farmland.
     • Total insured amount: ₹2.73 lakh crore.
   • DAP Fertilizer Subsidy: Fertilizer bag (50 kg) priced at ₹1,350, with a subsidy of ₹3,800 crore.
4. Additional Measures:
   • Government will bear transportation and storage costs for surplus crops (e.g., tomato, onion, potato).
   • Encouraging natural farming to mitigate soil damage caused by excessive chemical fertilizers.
5. Horticulture and Food Grain Production:
   • Food grain production increased from 265.05 million tonnes (2013–14) to 328.85 million tonnes (2023–24).
   • Horticulture production recorded at 352.23 million tonnes (2023–24).
6. Rural Poverty Decline:
   • Rural poverty rate dropped to 4.86% (FY24) from 7.2% (FY23).

Important Terms Explained:

• PM-KISAN (Pradhan Mantri Kisan Samman Nidhi):
  • Financial support scheme providing ₹6,000 annually to eligible farmers in three installments.
• Pradhan Mantri Fasal Bima Yojana (PMFBY):
  • World’s largest crop insurance scheme ensuring compensation for crop losses due to natural calamities.
• DAP Fertilizer:
  • Diammonium Phosphate, a key fertilizer used in agriculture, now available at subsidized rates.

Tabular Summary:

---

20. What is the primary objective of the Indian Chamber of Commerce and Industry’s (ICICI) expanded ‘3Cs’ initiative?
A) Focus solely on business startups
B) Strengthen community life, culture, and commerce through events and programmes
C) Promote international trade agreements exclusively
D) Provide financial assistance to small businesses
E) Organize charity events for disaster relief
Answer: B) Strengthen community life, culture, and commerce through events and programmes

Event and Location:

• Event: ICICI Expands ‘3Cs’ Initiative
• Date: January 4, 2025
• Location: Kochi

Mandates and Objectives:

• The ‘3Cs’ initiative (Commerce, Culture, and Community) by the Indian Chamber of Commerce and Industry (ICICI) aims to:
  1. Enhance Business Environment:
     • Organize industry-specific meetings and government-industry interaction forums.
     • Conduct seminars to support knowledge sharing, networking, and growth for the business community.
  2. Promote Cultural Collaborations:
     • Foster cultural exchanges and collaborative projects to strengthen ties within and across regions.
  3. Strengthen Community Life:
     • Conduct community-centered programmes and events to build stronger, inclusive communities.

Significance:

• Helps businesses navigate competitive markets through insights, networking, and knowledge-sharing events.
• Promotes holistic growth by integrating commerce, cultural awareness, and community engagement.

Important Terms Explained:

• Indian Chamber of Commerce and Industry (ICICI):
  • An industry body aimed at fostering economic growth, trade development, and community welfare in India.
• 3Cs Initiative:
  • A programme combining Commerce, Culture, and Community to achieve balanced and inclusive regional development.

Tabular Summary:

---

21. What is a key recommendation for improving Delhi’s EV policy as per the article?
A) Mandate exclusive use of EVs for all vehicles by 2030 without exceptions
B) Provide subsidies and invest in EV charging infrastructure for gig workers
C) Focus only on private vehicles and exclude commercial vehicles from EV policies
D) Increase petrol prices to incentivize the adoption of EVs
E) Completely phase out petrol vehicles by 2025
Answer: B) Provide subsidies and invest in EV charging infrastructure for gig workers

Event and Location:

• Event: Review of Delhi’s EV Policy
• Date: January 5, 2025
• Location: Delhi

Mandates and Objectives:

1. Delhi’s EV Policy Goals:
   • Launched in 2020, aimed for 25% of new vehicles to be battery-operated by 2024.
   • Updated in 2023 through the Motor Vehicle Aggregator and Delivery Service Provider Scheme, setting an ambitious target for all aggregator fleets to transition to EVs by 2030.
2. Key Issues Identified:
   • Insufficient Charging Infrastructure:
     • Lack of adequate charging stations leads to “dark zones” and operational inefficiencies.
     • Gig workers are forced to travel extra miles for charging, reducing their earnings.
   • High Cost of Reliable EVs:
     • Reliable two-wheeler EVs are priced above ₹1 lakh, making them unaffordable for gig workers.
     • The expiration of FAME-II subsidies worsens affordability.
   • Mismatch Between Demand and Supply:
     • EV penetration in FY24 was 5.4%, far short of the 25% target.
3. Recommendations:
   • Subsidies: Extend subsidies to gig workers for EV purchases.
   • Charging Infrastructure: Invest in creating dedicated EV charging stations for commercial and private vehicles.
   • Policy Flexibility: Reassess and defer existing mandates.
   • Consultation Process: Engage stakeholders, including gig workers and aggregators, for practical implementation strategies.
4. CNG Comparison:
   • Highlighted the challenges faced during CNG adoption in Delhi (2001), such as long queues and erratic supply.
   • Lessons from CNG adoption can guide a smoother EV transition.

Important Terms Explained:

• FAME-II Scheme:
  • Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India.
  • Launched by the Government of India to subsidize EVs and promote electric mobility.
• Gig Workers:
  • Individuals employed on flexible terms, often working for ride-hailing, food delivery, or logistics platforms.

Tabular Summary:

---

22. What is the primary feature of Telangana’s expanded Rythu Bharosa scheme?
A) ₹5,000 per acre for each crop season
B) ₹7,500 per acre for each crop season to all farmers cultivating crops
C) Subsidies for agricultural equipment purchases
D) Financial assistance only for tenant farmers
E) One-time compensation for drought-affected farmers
Answer: B) ₹7,500 per acre for each crop season to all farmers cultivating crops

Event and Location:

• Event: Telangana Expands Rythu Bharosa Scheme
• Date Announced: January 4, 2025
• Implementation Start: January 2025, coinciding with Sankranti

Mandates and Objectives:

1. Scheme Overview:
   • The Rythu Bharosa scheme provides ₹7,500 per acre for each crop season to support approximately 70 lakh farmers in Telangana.
   • Replaces the previous Rythu Bandhu scheme, which provided ₹5,000 per acre.
2. Key Features of Expansion:
   • The scheme targets lands under active cultivation, ensuring assistance only to genuine farmers.
   • Implementation will begin with Gram Sabhas from January 5 to 7, collecting applications from eligible farmers.
3. Financial Management:
   • The Telangana government plans to raise ₹30,000 crore in market borrowings during Q4 of FY 2024-25.
   • Borrowings will be in three monthly tranches of ₹10,000 crore each, with auctions conducted by the Reserve Bank of India.
4. Borrowing Restrictions:
   • The Union Finance Ministry reduced Telangana’s projected borrowing limit from ₹61,000 crore to ₹49,255 crore.
   • Approval from the Government of India is required to exceed borrowing limits.
5. Implementation Strategy:
   • A Cabinet sub-committee led by Deputy Chief Minister Mallu Bhatti Vikramarka has been tasked with ensuring proper implementation and preventing leakages.

Important Terms Explained:

• Rythu Bharosa Scheme:
  • A direct benefit transfer (DBT) scheme aimed at providing financial assistance to farmers for crop cultivation.
• Market Borrowings:
  • Funds raised by state governments or organizations through securities and bonds to finance developmental projects or schemes.
• Gram Sabha:
  • A village-level meeting where community members participate in decision-making processes.

Tabular Summary:

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs January 03