Daily Current Affairs February 06

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 February 06. 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.

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February 06 | Daily Current Affairs 2024

Important Days – Daily Current Affairs February 06

1. What was the theme for the International Day of Zero Tolerance for Female Genital Mutilation 2025?
A) End FGM Now: A Call for Global Action
B) Breaking the Silence: Empowering Survivors
C) Step Up the Pace: Strengthening Alliances and Building Movements to End FGM
D) Protecting Girls’ Rights: A Future Without FGM
E) Global Solidarity to End FGM
Answer: C) Step Up the Pace: Strengthening Alliances and Building Movements to End FGM

• Event: International Day of Zero Tolerance for Female Genital Mutilation 2025
• Date: February 6, 2025
• Location: Global

Mandates and Objectives:

• Awareness: Raise global awareness about Female Genital Mutilation (FGM) and its harmful effects.
• Elimination Goal: Strengthen global efforts to end FGM by 2030 through policy reforms and advocacy.
• Education & Healthcare: Promote education, investments in healthcare, and gender equality to combat FGM.

Global Prevalence of FGM:

• Affected Population: Over 200 million girls and women worldwide have undergone FGM.
• At-Risk Population: In 2024, 4.4 million girls were at risk—over 12,000 cases per day.
• Geographical Spread: High prevalence in Africa, the Middle East, Asia, Latin America, and immigrant communities in the West.
• Decline in Cases: Global prevalence has dropped by one-third over the last three decades.

Impact of Humanitarian Crises on FGM:

• Conflict Impact: Armed conflicts, climate change, and disease outbreaks worsen FGM prevalence.
• Vulnerability: Displacement, poverty, and lack of education increase the likelihood of FGM.

Consequences of FGM:

• Short-Term Effects: Severe pain, excessive bleeding, infections, difficulty urinating.
• Long-Term Effects: Chronic pain, childbirth complications, psychological trauma (PTSD, anxiety, depression), sexual dysfunction.
• The Path to Elimination: Strategies and Progress

Survivor-Led Initiatives:

• Role of Survivors: Empowering survivors to lead advocacy and awareness programs.
• Support Programs: Focus on education, economic empowerment, and healthcare access.

UN Joint Programme on FGM (UNFPA & UNICEF):

• Launch Year: Since 2008, working towards FGM elimination.

Achievements:

• Helped 7 million girls and women access protection and healthcare.
• Reached 250 million people through mass media campaigns.
• Supported 12,000 grassroots organizations and 112,000 community workers.

Role of Education and Advocacy:

• School Integration: Introducing FGM awareness into school curricula.
• Community Engagement: Encouraging men and boys to participate in FGM prevention.
• Safe Spaces: Providing platforms for women to share experiences and receive support.

Role of Media & Technology:

• Social Media Campaigns: Digital movements like #EndFGM and #Unite2EndFGM amplify survivor voices.
• Public Awareness: Mobilizing communities through online platforms and digital storytelling.

International Day of Zero Tolerance for FGM:

• UN Declaration: The United Nations General Assembly declared February 6 as the observance day in 2012.
• Purpose: Provides a global platform for advocacy, mobilization, and policy action.

Important Terms Explained:

• Female Genital Mutilation (FGM):
  • Definition: Partial or total removal of external female genitalia for non-medical reasons.
  • Classification: Recognized as a human rights violation.
  • Impact: Causes severe physical, psychological, and reproductive health issues.
• UNFPA-UNICEF Joint Programme on FGM:
  • Objective: A global initiative to accelerate the elimination of FGM.
  • Coverage: Active in 17 priority countries where FGM is most prevalent.
  • Services: Provides healthcare, protection services, and advocacy initiatives.
• #EndFGM & #Unite2EndFGM Campaigns:
  • Purpose: Social media movements raising awareness and advocating against FGM.
  • Impact: Engages survivors, activists, policymakers, and youth.

Tabular Summary:

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Banking and Finance – Daily Current Affairs February 06

2. What is the proposed increase in ATM interchange fees for financial transactions as per NPCI’s recommendation?
A) ₹14 to ₹16
B) ₹15 to ₹17
C) ₹16 to ₹18
D) ₹17 to ₹19
E) ₹18 to ₹20
Answer: B) ₹15 to ₹17

Event and Location:

• Event: NPCI Proposes Hike in ATM Interchange Fees
• Date: February 6, 2025
• Location: India

Mandates and Objectives:

• Compensation for Rising Costs: The hike aims to help banks and White Label ATM Operators (WLAOs) manage increasing operational expenses.
• Sustainability of ATM Services: The revised fees will support ATM network expansion and maintain service quality.
• Encouragement for ATM Growth: Higher fees could incentivize banks to install more ATMs, especially in semi-urban and rural areas.

Key Details of the Proposal:

• Interchange Fee Revision:
  • Financial transactions: Increase from ₹15 to ₹17.
  • Non-financial transactions: Increase from ₹5 to ₹6.
• Customer Charges Revision:
  • Customers currently get five free transactions per month at their own bank’s ATMs.
  • At other bank ATMs, three free transactions in metro cities and five in non-metro locations are allowed.
  • Beyond free limits, charges may increase from ₹20 to ₹21 per transaction (effective January 1, 2022).

Review Committee by RBI:

• The Reserve Bank of India (RBI) formed a committee in June 2019 to assess ATM charges.
• The committee reviewed ATM maintenance costs, security, compliance, and operational expenses before recommending an increase in fees.

Impact on ATM Availability in India:

• Current ATM Infrastructure: As of December 2014, India had around 1.82 lakh ATMs, which was insufficient for the growing population.
• Required ATMs (NPCI Estimate): India needs at least 3 lakh ATMs to meet increasing demand, especially with RuPay debit card users under Pradhan Mantri Jan Dhan Yojana (PMJDY).
• Expected Outcome: Higher fees may encourage banks and WLAOs to expand ATM installations, particularly in rural and semi-urban areas.

Important Terms Explained:

• NPCI (National Payments Corporation of India):
  • Definition: An umbrella organization for retail payments in India, established under the guidance of RBI and Indian Banks’ Association (IBA).
  • Role: Operates key payment systems like UPI, RuPay, and IMPS to enhance digital and cash-based transactions.
• ATM Interchange Fee:
  • Definition: A fee that one bank pays another when its customer uses an ATM of another bank.
  • Purpose: Helps cover the cost of ATM maintenance, cash handling, security, and compliance.
• White Label ATM Operators (WLAOs):
  • Definition: Private companies licensed by RBI to operate ATMs, not affiliated with any particular bank.
  • Example: Tata Communications Payment Solutions Ltd. (Indicash ATMs).
• Pradhan Mantri Jan Dhan Yojana (PMJDY):
  • Definition: A financial inclusion scheme launched by the Government of India.
  • Connection to ATMs: Provides RuPay debit cards to account holders, increasing demand for ATM access.

Tabular Summary:

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3. As of December 31, 2024, what percentage of ₹2000 banknotes remain in circulation?
A) 0.88%
B) 1.88%
C) 2.88%
D) 3.88%
E) 4.88%
Answer: B) 1.88%

Event and Location:

• Event: RBI ₹2000 Note Withdrawal – 98% Returned, 2% Still in Circulation
• Date: December 31, 2024
• Location: India

Mandates and Objectives:

• Reason for Introduction: The ₹2000 note was introduced on November 10, 2016, under Section 24(1) of the RBI Act, 1934, after the demonetization of ₹500 and ₹1000 notes.
• Purpose of Withdrawal: The withdrawal aligns with the RBI’s Clean Note Policy, as 89% of ₹2000 notes had reached their lifespan of 4-5 years and their usage had significantly declined.
• Smooth Transition: The RBI ensured a structured withdrawal without disrupting daily transactions.

Key Details of the ₹2000 Note Withdrawal:

• Withdrawal Announcement & Timeline:
  • May 19, 2023: RBI announced the withdrawal of ₹2000 notes while keeping them legal tender.
  • October 7, 2023: Deadline for exchanging/depositing ₹2000 notes at banks ended.
  • October 9, 2023: Exchange facility shifted to RBI’s 19 Issue Offices and via India Post.
• Current Status as of December 31, 2024:
  • ₹6,691 crore worth of ₹2000 notes remain in circulation, which is just 1.88% of the initial ₹3.56 lakh crore.
  • 98.12% of ₹2000 notes have been returned to the banking system.
• Exchange & Deposit Options Still Available:
  • Individuals can exchange or deposit ₹2000 notes at RBI’s 19 Issue Offices.
  • India Post facilitates mail deposit for customers who cannot visit an RBI office.
• Legal Tender Status:
  • Despite being withdrawn from active circulation, ₹2000 banknotes remain legal tender.
  • The RBI has reassured the public that these notes can still be exchanged or deposited.

Important Terms Explained:

• Clean Note Policy:
  • RBI’s initiative to maintain high-quality banknotes by phasing out older or less-used denominations.
• RBI Issue Offices:
  • 19 designated offices across India where ₹2000 notes can still be exchanged or deposited.
• Legal Tender:
  • A currency that is officially recognized for transactions, even if withdrawn from circulation.

Tabular Summary:

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4. Which bank recently launched two specialized startup current accounts to support entrepreneurs?
A) HDFC Bank
B) Axis Bank
C) South Indian Bank
D) Kotak Mahindra Bank
E) Yes Bank
Answer: C) South Indian Bank

Event and Location:

• Event: South Indian Bank Unveils Startup Current Accounts for Entrepreneurs
• Date: February 6, 2025
• Location: Kochi, Kerala

Mandates and Objectives:

• Support for Startups: South Indian Bank (SIB) introduced two specialized startup current accounts to cater to the unique banking needs of entrepreneurs.
• Simplifying Business Banking: The initiative aims to offer cost-effective, technology-driven, and flexible banking solutions for new businesses.
• Promoting Financial Inclusion: The bank’s move aligns with India’s growing startup ecosystem, enabling smoother financial transactions and growth opportunities.

Key Features of SIB’s Startup Current Accounts:

• Accounts Introduced:
  • SIB Business Startup Current Account – Designed for sole proprietorships and partnerships.
  • SIB Corporate Startup Current Account – Suitable for private limited companies, public limited companies, one-person companies (OPCs), and LLPs.
• Eligibility Criteria:
  • Startups must have an incorporation or registration date not older than three years.

Key Benefits for Entrepreneurs:

• Zero Minimum Balance for Three Years – Startups can operate without maintaining a minimum balance during their initial years.
• Unlimited Free RTGS/NEFT Transactions – Supports seamless, high-volume financial transactions through digital banking channels.
• Premium Debit Card with Airport Lounge Access – Provides additional perks for business owners who frequently travel.

Launch Event and Key Dignitaries:

• The official launch event took place at the Andromeda Auditorium, South Indian Bank’s administrative building in Kochi.
• Key attendees:
  • P. R. Seshadri, MD & CEO of South Indian Bank, emphasized the bank’s commitment to supporting entrepreneurs.
  • Susanth Kurunthil, CEO of Infoparks Kerala, was also present at the event.

South Indian Bank’s Digital Banking Initiatives:

• SIB SWIFTe: A digital platform launched earlier for faster, hassle-free account opening.
• Focus on Technology-Driven Banking: The startup accounts are part of SIB’s digital transformation strategy to provide seamless banking solutions.

Important Terms Explained:

• Startup Current Account:
  • A specialized banking product tailored for early-stage businesses to manage transactions efficiently.
  • Offers flexibility, cost-saving benefits, and additional financial services.
• RTGS/NEFT (Real-Time Gross Settlement / National Electronic Funds Transfer):
  • RTGS: Instant fund transfer for high-value transactions.
  • NEFT: Secure electronic money transfer system for businesses.
  • Benefit: SIB’s startup accounts provide unlimited free RTGS/NEFT transactions via digital banking.
• SIB SWIFTe:
  • A digital platform launched by South Indian Bank to enable quick and hassle-free account opening.
  • Aimed at reducing paperwork and enhancing customer convenience.

Tabular Summary:

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5. Which Indian bank recently became a signatory of the Partnership for Carbon Accounting Financials (PCAF)?
A) Punjab National Bank
B) Indian Overseas Bank
C) Bank of Baroda
D) HDFC Bank
E) Axis Bank
Answer: B) Indian Overseas Bank

Event and Location:

• Event: IOB Joins Global Partnership for Carbon Accounting
• Date: February 6, 2025
• Location: India

Mandates and Objectives:

• Sustainability Commitment: Indian Overseas Bank (IOB) has joined the Partnership for Carbon Accounting Financials (PCAF) to measure and disclose the greenhouse gas (GHG) emissions from its financed activities.
• Aligning with Global Standards: By adopting PCAF’s carbon accounting framework, IOB is ensuring transparency and accountability in climate-related financial disclosures.
• Supporting India’s Net-Zero Goals: This initiative aligns with India’s broader environmental policies and promotes responsible banking practices.

What is PCAF (Partnership for Carbon Accounting Financials)?

• A global initiative helping financial institutions track and disclose carbon emissions linked to their investments and lending portfolios.
• Provides a standardized methodology for GHG accounting, ensuring accurate carbon footprint measurement.
• Encourages banks to support climate-friendly financing and reduce their overall carbon impact.

Why is IOB’s Membership Significant?

• Early Adopter in Indian Banking: IOB is among the first Indian banks to join PCAF, setting an example for sustainable finance.
• Supports RBI’s Climate Risk Disclosure Guidelines: RBI recently introduced mandatory reporting norms for banks to address climate-related risks.
• Strengthening India’s Green Finance Ecosystem: This step reinforces IOB’s commitment to responsible banking and environmental stewardship.

Other Indian Banks in PCAF:

• Union Bank of India became the first Indian bank to join PCAF in September 2024.
• IOB’s participation reflects a growing trend of climate-conscious banking in India.

Important Terms Explained:

• Greenhouse Gas (GHG) Emissions:
  • Gases like carbon dioxide (CO₂), methane (CH₄), and nitrous oxide (N₂O) that contribute to climate change.
  • PCAF helps banks assess and report emissions from financed projects and investments.
• RBI’s Climate Risk Disclosure Guidelines:
  • Introduced in 2024, requiring financial institutions to report governance, risk management, and climate-related financial strategies.
  • Ensures banks take proactive steps in managing environmental risks.
• Net-Zero Transition:
  • A strategy to balance carbon emissions with carbon removal efforts.
  • Banks play a crucial role by financing green projects and reducing funding to carbon-intensive industries.

Tabular Summary:

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Business and Economy – Daily Current Affairs February 06

6. By what percentage did India’s gold investments grow in 2024?
A) 45%
B) 50%
C) 60%
D) 70%
E) 80%
Answer: C) 60%

Event and Location:

• Event: India’s Gold Investments Soar 60% to ₹1.5 Lakh Crore in 2024
• Date: 2024
• Location: India

Mandates and Objectives:

• Investment Growth: India’s gold investments surged 60% in 2024, reaching ₹1.5 lakh crore ($18 billion).
• Record Demand: Gold investment demand rose to 239 tonnes, the highest since 2013.
• Global Impact: India accounted for 20% of global gold investment demand, reflecting its dominance in the gold market.

Significant Investment Growth:

• Gold investments in India rose by 60% from 2023 levels.
• Total investment: ₹1.5 lakh crore ($18 billion).
• Investment demand: 239 tonnes in 2024, a 29% increase from 185 tonnes in 2023.

Global Gold Demand Trends:

• India contributed 20% to the total global gold investment demand (1,180 tonnes).
• Worldwide investment demand rose 25%, from 945.5 tonnes in 2023 to 1,180 tonnes in 2024.

Factors Driving the Surge:

• Rising Gold Prices: Continuous price appreciation boosted demand.
• Import Duty Reduction (July 2024): Lower duties encouraged investment.
• Festive Season Demand: Dhanteras and Diwali (Oct–Nov 2024) saw record purchases.
• Stock Market Decline: Investors moved to gold as a safe-haven asset.
• E-commerce Boom: Rapid gold delivery (10–15 minutes) via digital platforms increased sales.
• Geopolitical Uncertainty & Interest Rate Expectations: Global instability made gold a preferred investment.

Quarterly Performance:

• Q4 (Oct-Dec 2024): Gold investment demand reached 76 tonnes, nearly matching Q3 levels.
• Global Gold ETFs: Recovered after hitting a four-year low (3,080 tonnes in April 2024).

Future Outlook:

• Expansion of gold ETFs and mutual funds.
• Continued investor interest amid economic uncertainty.

Important Terms Explained:

• Gold ETFs (Exchange-Traded Funds):
  • Investment instruments that allow investors to trade gold without holding physical gold.
  • Help investors hedge against inflation and economic instability.
• Import Duty Reduction (July 2024):
  • The government cut import duties on gold, making purchases more affordable and boosting investment demand.
• Geopolitical Uncertainty:
  • Global economic and political instability (wars, inflation, interest rate fluctuations) often lead to increased demand for gold as a safe-haven asset.

Tabular Summary:

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Appointments – Daily Current Affairs February 06

7. Who has been appointed as the Acting Chair of the GSMA Board in February 2025?
A) Sunil Bharti Mittal
B) Mukesh Ambani
C) Gopal Vittal
D) Rajeev Suri
E) José María Álvarez-Pallete
Answer: C) Gopal Vittal

Event and Location:

• Event: Gopal Vittal Appointed Acting Chair of GSMA Board
• Date: February 3, 2025
• Location: Global

Mandates and Objectives:

• Leadership Transition: Gopal Vittal took over as the Acting Chair of the GSMA Board after the resignation of José María Álvarez-Pallete.
• Strategic Importance: His appointment strengthens India’s presence in global telecom leadership and aligns with GSMA’s ongoing digital transformation initiatives.
• GSMA’s Role: The GSMA represents over 1,100 telecom-related companies worldwide, playing a key role in industry advocacy, technology development, and policy formulation.

Reason for Appointment:

• José María Álvarez-Pallete, Chairman & CEO of Telefónica, resigned from the GSMA Board due to his departure from Telefónica.
• Gopal Vittal, Vice Chairman and MD of Bharti Airtel, was appointed Acting Chair on February 3, 2025.

Gopal Vittal’s Previous Roles in GSMA:

• Deputy Chair of GSMA Board for the 2025-2026 term, reaffirming his leadership role.
• Member of GSMA Board during the 2019-2020 period, contributing to global telecom strategies.

Impact on Global Telecom Industry:

• Vittal’s leadership will drive policies on 5G adoption, telecom innovations, and digital transformation.
• His experience in both Indian and international telecom markets positions him to guide GSMA effectively.

What is the GSMA?

• Global System for Mobile Communications Association (GSMA) is an international industry body representing telecom operators, handset manufacturers, software developers, and internet companies.
• GSMA influences telecom policies, fosters innovation, and promotes global collaborations.
• The association is at the forefront of 5G, IoT, and digital connectivity advancements.

Important Terms Explained:

• GSMA (Global System for Mobile Communications Association):
  • Industry body representing 1,100+ telecom-related companies worldwide.
  • Supports 5G, digital transformation, and telecom policy-making globally.
• Acting Chair:
  • A temporary leadership role until a permanent chair is appointed.
  • Gopal Vittal will oversee strategic decisions and industry collaborations.

Tabular Summary:

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Science and Technology – Daily Current Affairs February 06

8. Where did ISRO launch FEAST 2025, the latest version of its structural analysis software?
A) IIT Bombay
B) IIT Hyderabad
C) IISc Bangalore
D) ISRO Headquarters, Bengaluru
E) IIT Madras
Answer: B) IIT Hyderabad

Event and Location:

• Event: ISRO Unveils FEAST 2025 Software at IIT Hyderabad
• Date: February 6, 2025
• Location: IIT Hyderabad, Telangana

Mandates and Objectives:

• Promoting Indigenous Engineering Software: ISRO’s Vikram Sarabhai Space Centre (VSSC) has developed FEAST 2025 as a cost-effective alternative to foreign structural analysis software.
• Supporting Space Missions: FEAST plays a crucial role in the structural analysis of ISRO’s key missions, including Gaganyaan, Bharatiya Antariksh Station, and Next Generation Launch Vehicle (NGLV).
• Encouraging Academic and Industrial Use: The software is designed for students, researchers, and industries to enhance structural engineering capabilities in India.

What is FEAST (Finite Element Analysis of Structures)?

• An indigenous Finite Element Analysis (FEA) software developed by Vikram Sarabhai Space Centre (VSSC), ISRO.
• Used to simulate stress, strain, and thermal effects on engineering structures.
• Provides a Made-in-India alternative to expensive foreign structural analysis software.

Where is FEAST Used?

• Gaganyaan Mission – India’s first human spaceflight program.
• Bharatiya Antariksh Station – India’s upcoming independent space station.
• Next Generation Launch Vehicle (NGLV) – Future heavy-lift launch system.

Types of FEAST 2025 Versions:

1. Academic Version – For students and educational institutions.
2. Premium Version – For small and medium enterprises (SMEs).
3. Professional Version – For large-scale industries and research organizations.

Software Availability:

• Compatible with Windows and Linux.
• Free trial version available on ISRO/VSSC website.
• Over 4,000 licenses issued to institutions and industries.

Educational and Research Initiatives:

• Book Release – “Introduction to Finite Element Analysis”
  • Written by experts from VSSC & LPSC.
  • Edited by Dr. S. Somanath (ISRO Chairman) & Dr. S. Unnikrishnan Nair (VSSC Director).
  • Helps students and engineers understand structural analysis and FEAST software.
• Upcoming ISRO Software: Pravaha (CFD Software)
  • ISRO is developing Pravaha, an indigenous Computational Fluid Dynamics (CFD) software.
  • Expected to improve fluid flow simulations in aerospace and engineering applications.

Important Terms Explained:

• Finite Element Analysis (FEA):
  • A computerized method for predicting how structures react to forces, vibration, and temperature.
  • Used in aerospace, automotive, civil engineering, and manufacturing industries.
• Gaganyaan Mission:
  • India’s first human spaceflight mission, set to launch astronauts into low-Earth orbit (LEO).
• Bharatiya Antariksh Station:
  • India’s planned independent space station, expected to be operational by 2035.
• Next Generation Launch Vehicle (NGLV):
  • ISRO’s future heavy-lift rocket, designed for low-cost, reusable space missions.

Tabular Summary:

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9. What record did China’s Artificial Sun (EAST) achieve recently in nuclear fusion research?
A) Burned for 500 seconds at 50 million °C
B) Burned for 1000+ seconds at 100 million °C
C) Burned for 1500 seconds at 80 million °C
D) Achieved plasma confinement at 1 million °C
E) Created plasma without magnetic confinement
Answer: B) Burned for 1000+ seconds at 100 million °C

Event and Location:

• Event: China’s Artificial Sun Burns for 1000+ Seconds, Sets Fusion Research Record
• Date: January 31, 2025
• Location: China (EAST Facility)

Mandates and Objectives:

• Fusion Energy Advancement: EAST (Experimental Advanced Superconducting Tokamak), China’s Artificial Sun, achieved a steady-state plasma operation for over 1000 seconds at 100 million °C.
• Clean Energy Goal: This breakthrough is a step closer to fusion-based nuclear reactors as alternatives to fossil fuels, addressing the global energy crisis and climate change.

What is EAST?

• EAST (Experimental Advanced Superconducting Tokamak): A nuclear fusion reactor designed to replicate the energy generation process of the Sun.
• Operates by creating and confining plasma at extremely high temperatures using magnetic fields in a donut-shaped chamber.

Significance of the Achievement:

• 1,000+ seconds of operation: Longest steady-state plasma confinement at 100 million °C in fusion research.
• Marks a critical step toward building fusion-based reactors capable of producing clean and limitless energy.
• Demonstrates the potential to address the global energy crisis and mitigate climate change.

Understanding Nuclear Fusion and Fission:

• Nuclear Fusion:
  • Fusion: Combines two light atomic nuclei (e.g., hydrogen isotopes) into a heavier nucleus, releasing massive amounts of energy.
  • Powers the Sun and stars.
• Nuclear Fission:
  • Fission: Splits a heavy nucleus into lighter fragments, releasing energy.
  • Used in current nuclear power plants.
• Comparison:
  • Fusion produces more energy than fission.
  • Fusion is safer and cleaner, generating no long-lived radioactive waste.

Advantages of Nuclear Fusion:

• High Energy Output: Produces more energy than any other source.
• Abundant Fuel Supply: Uses deuterium, tritium, hydrogen, and lithium, available in virtually unlimited quantities.
• Environmentally Friendly: Zero greenhouse gas emissions; does not contribute to global warming.
• Safe Process: Produces helium (an inert gas) and short-lived radioactive materials (like tritium) with no long-term waste.

Challenges in Achieving Nuclear Fusion:

1. Extreme Temperature Requirements:
   • Fusion requires temperatures of hundreds of millions of degrees Celsius, far higher than the Sun’s core.
   • Maintaining such temperatures is technologically challenging.
2. Plasma Containment:
   • At such temperatures, matter exists as plasma (charged particles), which must be stabilized to extract energy effectively.
3. Magnetic Confinement:
   • Plasma is confined using strong magnetic fields to prevent contact with reactor walls, which could lead to energy loss or reactor damage.

Tabular Summary:

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Defence – Daily Current Affairs February 06

10. What is the new name of Fort William, the Eastern Command headquarters of the Indian Army?
A) Shivneri Durg
B) Vijay Durg
C) Pratapgad Fort
D) Swaraj Durg
E) Kalyan Durg
Answer: B) Vijay Durg

Event and Location:

• Event: Fort William Renamed as ‘Vijay Durg’
• Date: December 2024
• Location: Kolkata, West Bengal

Mandates and Objectives:

• Decolonization Initiative: The Indian Army renamed Fort William as Vijay Durg to remove colonial imprints and honor India’s indigenous military heritage.
• Inspiration from Vijaydurg Fort: The name is inspired by Vijaydurg Fort in Maharashtra, a Maratha naval stronghold under Chhatrapati Shivaji Maharaj.
• Strengthening National Pride: The renaming highlights India’s self-reliant military traditions and glorious past.

Why Was Fort William Renamed?

• The decision aligns with PM Narendra Modi’s decolonization initiative to replace colonial-era names with Indian historical references.
• Fort William was built by the British in 1781 and named after King William III of England.
• It has been the headquarters of the Indian Army’s Eastern Command since independence.

What is the Significance of ‘Vijay Durg’?

• Inspired by Vijaydurg Fort, a strategic naval base of the Marathas.
• Symbolizes victory, strength, and resilience of the Indian armed forces.
• Represents India’s rich indigenous military legacy.

Who Confirmed the Name Change?

• Wing Commander Himanshu Tiwari, Chief Public Relations Officer (MoD, Kolkata), confirmed that the name change has been implemented internally, though an official announcement is pending.

Similar Decolonization Efforts in India:

• Rajpath → Kartavya Path.
• Andaman Islands landmarks renamed after Indian freedom fighters.
• Military traditions revamped to reflect Indian heritage.

Strategic and Cultural Impact:

• Encourages historical reclamation and cultural pride.
• Highlights India’s shift away from colonial influences.
• Reinforces India’s military traditions rooted in indigenous history.

Important Terms Explained:

• Fort William:
  • Built in 1781 by the British as a military base.
  • Named after King William III of England.
  • Headquarters of the Indian Army’s Eastern Command post-independence.
• Vijaydurg Fort:
  • A historic Maratha naval base in Sindhudurg, Maharashtra.
  • Built by Chhatrapati Shivaji Maharaj to strengthen India’s coastal defense.
  • Considered one of the strongest forts in the Konkan region.
• Decolonization Initiative:
  • A movement led by the Government of India to remove colonial names, symbols, and practices.
  • Aims to revive Indian historical and cultural identities in governance and defense.

Tabular Summary:

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International Affairs – Daily Current Affairs February 06

11. Which company recently joined the United Nations Global Compact (UNGC) initiative to commit to sustainable business practices?
A) Adani Airports
B) GMR Airports Ltd
C) Tata Aviation
D) Indigo Airlines
E) Air India
Answer: B) GMR Airports Ltd

Event and Location:

• Event: GMR Airports Joins United Nations Global Compact Initiative
• Date: February 6, 2025
• Location: India

Mandates and Objectives:

• Sustainability Commitment: GMR Airports Ltd (GAL) has joined the United Nations Global Compact (UNGC) to align its business operations with global sustainability standards.
• Environmental & Social Responsibility: GAL commits to human rights, labor standards, environmental sustainability, and anti-corruption principles set by the UNGC.
• Global Impact: The initiative will help enhance GAL’s global aviation footprint with a strong focus on eco-friendly airport infrastructure.

Integration of UNGC’s Ten Principles:

• GAL will implement UNGC’s principles in its corporate policies, sustainability programs, and airport operations.
• The company aims to contribute to the United Nations Sustainable Development Goals (SDGs).

Sustainability in Airport Infrastructure:

• GAL-operated airports hold Green Building Certifications from the US Green Building Council (USGBC) and the Indian Green Building Council (IGBC).
• Investments in energy-efficient infrastructure, waste management programs, and carbon footprint reduction.

GMR Airports’ Expansion and Global Presence:

• Served over 121 million passengers in FY24, reflecting strong growth in air traffic management.
• Operates major airports in Delhi, Hyderabad, Goa, and Medan (Indonesia).
• Developing new airports in Bhogapuram (Visakhapatnam) and Crete (Greece).
• Provides technical services to Mactan Cebu International Airport (Philippines).

Leadership Vision:

• Christoph Schnellmann, CEO of Noida International Airport, emphasized that GAL’s commitment to sustainability-driven aviation infrastructure aligns with long-term environmental goals.

Important Terms Explained:

• United Nations Global Compact (UNGC):
  • Definition: A global initiative that encourages companies to adopt sustainable and socially responsible policies.
  • Principles: Focuses on human rights, labor standards, environmental protection, and anti-corruption.
• Green Building Certification:
  • Certification Bodies: US Green Building Council (USGBC) & Indian Green Building Council (IGBC).
  • Purpose: Recognizes energy-efficient, environmentally friendly infrastructure.
• Sustainable Development Goals (SDGs):
  • Definition: 17 global goals set by the United Nations to promote sustainability, economic growth, and social development.
  • GAL’s Contribution: Focus on eco-friendly airports, carbon neutrality, and waste reduction initiatives.

Tabular Summary:

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12. Where will the Global Justice, Love & Peace Summit 2025 be held?
A) New York, USA
B) Geneva, Switzerland
C) Dubai, UAE
D) Paris, France
E) London, UK
Answer: C) Dubai, UAE

Event and Location:

• Event: Dubai’s Global Justice Summit Welcomes 2,800 Peacekeepers, Nobel Laureates
• Date: April 12-13, 2025
• Location: Dubai Exhibition Centre, Expo City, Dubai, UAE

Mandates and Objectives:

• Promoting Global Peace: The summit aims to foster discussions on justice, love, and peace among world leaders, Nobel Laureates, and peacekeepers.
• International Collaboration: Organized by the I am Peacekeeper Movement, it will serve as a platform for global cooperation on non-violence and tolerance.
• Recognizing Contributions: The event will honor individuals and organizations promoting justice and peace through prestigious awards.

Event Details:

• Summit Name: Global Justice, Love & Peace Summit 2025
• Organized by: I am Peacekeeper Movement
• Under Patronage of: Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance and Coexistence
• Theme: One Planet, One Voice: Global Justice, Love & Peace

Key Participants:

• 2,800 Peacekeepers from across the world.
• 72 Distinguished Speakers, including:
  • 10 Nobel Laureates
  • Heads of State
  • Religious Leaders

Awards and Recognition:

• 28 Awards to be presented in categories of justice, love, and peace.
• Notable awards include:
  • Champion Judge of Judges
  • World Woman-in-Law
  • Global Non-Violence Award
• Selection Process: 84 nominees reviewed by a 28-member international committee.

Major Initiatives:

• “I am Peacekeeper” Movement
  • Goal: Unite one million peacekeepers globally by September 21, 2025.
  • Promotes seven core human values:
    • Gratitude,
    • forgiveness,
    • love,
    • peace,
    • tolerance,
    • unity, and
    • hope.
  • Encourages global collaboration and public engagement in peace efforts.

Dubai’s Role as Host:

• Dubai was chosen for its strong commitment to peace, tolerance, and happiness.
• The UAE’s Year of Community 2025 emphasizes global harmony and coexistence.
• The UAE has dedicated ministries for tolerance and happiness, reinforcing its commitment to peace.

Important Terms Explained:

• Global Justice, Love & Peace Summit:
  • Definition: An international event promoting justice, non-violence, and peacebuilding initiatives.
  • Objective: Encourages collaboration between leaders, Nobel Laureates, and peacekeepers.
• “I am Peacekeeper” Movement:
  • Definition: A global movement aiming to unite one million peacekeepers by September 2025.
  • Focus: Advocates for peace through gratitude, forgiveness, love, unity, and tolerance.
• Champion Judge of Judges Award:
  • Purpose: Recognizes a legal professional who has made outstanding contributions to global justice.

Tabular Summary:

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13. Where was the largest Hindu temple in the Southern Hemisphere inaugurated on February 2, 2025?
A) Sydney, Australia
B) Johannesburg, South Africa
C) Sao Paulo, Brazil
D) Auckland, New Zealand
E) Suva, Fiji
Answer: B) Johannesburg, South Africa

Event and Location:

• Event: Southern Hemisphere’s Largest Hindu Temple Unveiled
• Date: February 2, 2025
• Location: North Riding, Johannesburg, South Africa

Mandates and Objectives:

• Promoting Hindu Culture: The temple serves as a place of worship, cultural exchange, and education.
• Strengthening Social Harmony: BAPS aims to promote interfaith dialogue and social service programs.
• Enhancing Community Development: The temple includes facilities for education, healthcare, and humanitarian efforts.

Historic Significance:

• Largest Hindu temple in the Southern Hemisphere.
• Built on a 14.5-acre site in North Riding, Johannesburg.
• Similar in design to the BAPS temple in Nairobi, Kenya.

Grand Inauguration Ceremony:

• The temple was inaugurated by Mahant Swami Maharaj, spiritual leader of BAPS.
• South Africa’s Deputy President Paul Mashatile attended the event.
• A nagar yatra (procession) took place on February 1, featuring devotional music, dancers, and traditional bands.
• Thousands of worshippers gathered before dawn on February 2 to witness the consecration rituals.

Temple Features:

• 3,000-seater auditorium and 2,000-seater banqueting hall.
• Research and exhibition centers showcasing Hindu history and philosophy.
• Classrooms, clinics, cultural complexes, and recreational facilities.
• Art, dance, language, and faith education programs.

Social and Humanitarian Contributions:

• The temple will function as a social upliftment center.
• BAPS is involved in poverty alleviation, education, and humanitarian services.
• South African Government invited BAPS to collaborate on tackling issues like poverty, unemployment, violence, and substance abuse.

Future Expansion (Phase 2):

• A more ornate temple with traditional Hindu architecture will be constructed.
• Expansion will include BAPS charities and community development programs.

Other Major Hindu Temples in South Africa:

• Shree Sanatan Hindu Mandir, Durban.
• Durban Hindu Temple.
• Sri Vishwaroopa Sanatan Hindu Union Temple.
• Shree Cidambaram Maruthi Temple, Johannesburg.

Important Terms Explained:

• Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS):
  • A Hindu religious and socio-cultural organization.
  • Promotes spirituality, education, and social service worldwide.
• Nagar Yatra:
  • A ceremonial religious procession involving devotional music, dance, and prayer rituals.
  • Conducted during temple inaugurations and religious festivals.
• Consecration Rituals:
  • Sacred Hindu ceremonies performed to invoke divine presence in a newly built temple.

Tabular Summary:

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14. Which country is the Made-in-India Jimny 5-door being exported to after its global success?
A) Australia
B) Japan
C) South Africa
D) Mexico
E) United States
Answer: B) Japan

Event and Location:

• Event: Made-in-India Jimny 5-door to be Launched in Japan
• Date: January 31, 2025
• Location: Japan (Manufactured in Gurugram, Haryana, India)

Mandates and Objectives:

• Export of Made-in-India SUVs: The Jimny 5-door, manufactured in India, marks the second model exported to Japan in FY 2024-25 after the Maruti Suzuki Fronx.
• Commitment to ‘Make-in-India’: Reflects India’s growing capabilities in producing globally accepted automobiles.
• Strengthening Global Market Presence: Maruti Suzuki India aims to expand the Jimny’s reach to over 100 countries.

Overview of the Jimny 5-door:

• Extended version of the standard 3-door Jimny with a 340mm longer wheelbase.
• Dimensions:
  • Length: 3,985mm
  • Width: 1,645mm
  • Height: 1,720mm
  • Ground Clearance: 210mm
• Features an approach angle of 36 degrees and a departure angle of 50 degrees, enhancing off-road capability.

Engine and Powertrain:

• Powered by a 1.5-litre K15B NA Petrol Engine.
• Options:
  • 5-speed manual transmission.
  • 4-speed automatic transmission.
• Outputs 105 bhp and 134 Nm torque, coupled with Suzuki’s mild-hybrid technology.
• Features AllGrip Pro 4WD system with manual transfer case and four driving modes:
  • 2WD-high
  • 4WD-high
  • 4WD-low

Global Expansion of the Jimny 5-door:

• Initially unveiled at the 2023 Auto Expo, the 5-door variant attracted significant global interest.
• Exported to regions like Latin America, Middle East, Africa, and Australia.
• Now being introduced in Japan, rebranded as the ‘Jimny Nomade’.

Maruti Suzuki’s Leadership Vision:

• Mr. Hisashi Takeuchi, Managing Director & CEO of Maruti Suzuki India Limited, highlighted that this export reinforces India’s “Make-in-India for the world” mission.
• Jimny is the second most-exported Maruti Suzuki car for FY 2024-25.

Important Terms Explained:

• Suzuki AllGrip Pro 4WD System:
  • A versatile four-wheel-drive system for enhanced off-road capability.
  • Includes a low-range gearbox for challenging terrains.
• Make-in-India Initiative:
  • A national program aimed at transforming India into a global manufacturing hub.
  • Focuses on export-driven growth and innovation in industries like automobiles.

Tabular Summary:

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National Affairs – Daily Current Affairs February 06

15. What is the name of the Election Commission initiative launched in West Delhi to boost voter awareness?
A) Space Votes Mission
B) Galaxy Poll Drive
C) Chandrayaan Se Chunao Tak
D) Voter Space Odyssey
E) Democracy and Cosmos
Answer: C) Chandrayaan Se Chunao Tak

Event and Location:

• Event: ‘Chandrayaan Se Chunao Tak’ Election Commission Initiative for West Delhi
• Date: February 6, 2025
• Location: Vikaspuri, West Delhi

Mandates and Objectives:

• Voter Awareness: Enhance voter participation through an innovative space-themed polling experience.
• Youth Engagement: Attract young voters by merging India’s space achievements with the electoral process.
• Senior Citizen Encouragement: Provide special arrangements to ensure elderly participation.

Space-Themed Polling Booth:

• The polling station is decorated with models of Chandrayaan and Gaganyaan, creating a space-inspired voting atmosphere.
• Interactive bioscope and telescope displays provide an engaging educational experience.

Astronaut Escorts for Voters:

• Volunteers dressed as astronauts guide voters inside the booth, adding excitement and novelty.

Special Arrangements for Elderly Voters:

• Senior citizens are welcomed with roses and warm greetings, making the voting process more inviting.

Technology and AI Integration:

• The initiative uses AI-driven interactive displays to enhance the futuristic appeal.
  College students and volunteers contribute to the execution of the theme.

Positive Public Response:

• Voters have expressed enthusiasm and appreciation for the creative concept.
• The initiative fosters national pride by connecting democracy with India’s space advancements.

Important Terms Explained:

• Chandrayaan Se Chunao Tak:
  • Definition: A space-themed initiative launched by the Election Commission of India (ECI) to boost voter participation.
  • Objective: To increase voter engagement by making polling stations visually appealing and interactive.
• Chandrayaan & Gaganyaan Models:
  • Purpose: These models serve as symbols of India’s space achievements, inspiring national pride among voters.
  • Impact: Helps connect democracy with India’s technological progress.
• AI-Driven Displays:
  • Technology Used: Artificial Intelligence (AI) to create interactive exhibits at polling booths.
  • Benefit: Enhances the voting experience by adding a futuristic appeal.

Tabular Summary:

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16. Which two organizations signed an MoU to boost decarbonisation efforts in India?
A) NITI Aayog and RBI
B) Ministry of Power and IREDA
C) IICA and CMAI
D) BEE and SECI
E) NTPC and MNRE
Answer: C) IICA and CMAI

Event and Location:

• Event: IICA and CMAI Sign MoU to Boost Decarbonisation Efforts
• Date: February 4, 2025
• Location: New Delhi, India

Mandates and Objectives:

• Capacity Building: Train industry professionals, policymakers, and academicians in carbon markets and decarbonisation strategies.
• Climate Mitigation: Support India’s net-zero goals by enhancing expertise in carbon offset mechanisms.
• Industry Collaboration: Promote joint research, policy advocacy, and sustainable finance initiatives.

Key Announcements & Insights:

• Shri Nitin Gadkari emphasized the role of biofuels, green hydrogen, and India’s hydrogen export potential.
• India targets hydrogen production at $1 per kg to become a global leader.
• Launch of the Sustainable Aviation Fuel (SAF) Alliance to promote sustainable aviation.
• IICA announced a Certificate Programme in Decarbonisation for corporate professionals.
• CMAI leadership stressed training, research, and policy advocacy to expand India’s carbon market.

Areas of Collaboration:

• Training Programmes: Focus on carbon markets, sustainable finance, and low-carbon industrial solutions.
• Joint Research: Studies on decarbonisation strategies and carbon trading mechanisms.
• Workshops & Conferences: Events fostering dialogue between industry, policymakers, and researchers.
• Policy Advocacy: Supporting regulatory frameworks for achieving India’s net-zero goals.

IICA-CMAI Masterclass on Global & Indian Carbon Markets:

• Day 1 Highlights:
  • Over 70 professionals from corporates, PSUs, government bodies, and embassies attended.
  • Case-study discussion led by Ms. Shivangi Vashishta (IICA) enhanced engagement.
  • A special session was conducted by ERM India’s Managing Partner.
• Day 2 Focus:
  • Sessions on International Carbon Markets and their role in India’s climate action plan.

Important Terms Explained:

• Carbon Market:
  • A system where companies buy and sell carbon credits to offset emissions.
  • Helps industries comply with carbon reduction targets and climate policies.
• Decarbonisation:
  • The process of reducing carbon emissions in industrial and energy sectors.
  • Includes renewable energy adoption, carbon capture technologies, and sustainable transport.
• Sustainable Aviation Fuel (SAF):
  • A cleaner alternative to traditional aviation fuels, reducing carbon footprint.
  • Made from renewable sources like biofuels, hydrogen, and waste-based feedstocks.
• Net-Zero:
  • Achieving zero carbon emissions by balancing emissions with carbon removal or offsetting.
  • India has pledged to reach net-zero emissions by 2070.

Tabular Summary:

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17. Which Union Minister launched the Watershed Yatra campaign in February 2025?
A) Narendra Singh Tomar
B) Bhupender Yadav
C) Shivraj Singh Chouhan
D) Gajendra Singh Shekhawat
E) Ashwini Vaishnaw
Answer: C) Shivraj Singh Chouhan

Event and Location:

• Event: Shivraj Singh Chouhan Launches Watershed Yatra
• Date: February 4, 2025
• Location: India

Mandates and Objectives:

• Awareness Generation: To promote soil and water conservation through public engagement.
• Watershed Development: Encourage community-driven participation in watershed projects under WDC-PMKSY 2.0.
• Sustainable Agriculture: Enhance agricultural productivity and environmental conservation.

Launch and Participation:

• Launched in hybrid mode, enabling nationwide participation.
• Attended by Shri Shivraj Singh Chouhan, Dr. Chandra Sekhar Pemmasani, and Shri Kamlesh Paswan.
• 800 Gram Panchayats and 1 lakh+ people participated.
• Officials from States/UTs launched regional-level campaigns simultaneously.

Objectives of the Campaign:

• Create awareness on watershed management and natural resource conservation.
• Encourage community involvement in WDC-PMKSY projects.
• Promote a Public-Private-People Partnership (4Ps) model for watershed sustainability.

Key Announcements by Shivraj Singh Chouhan:

• Emphasized the importance of soil and water conservation for future generations.
• Urged active public participation to ensure project success.
• Introduced “Watershed-Janbhagidari Pratiyogita” (2025 & 2026), awarding ₹20 lakh per top project with a total allocation of ₹70.80 crore.

Major Activities Under the Watershed Yatra:

• Bhoomi Poojan & Lokarpan: Inauguration and completion of watershed projects.
• Watershed Mahotsav & Watershed ki Panchayat: Community discussions on sustainable watershed practices.
• Shramdan & Bhumi-Jal Pitch: Local participation in constructing water harvesting structures.
• Awards & Recognition: Honoring community contributors and watershed leaders.

Educational & Awareness Efforts:

• Learning Management System (LMS) on Watershed Development available on the DoLR website and linked to MY Bharat portal.
• Youth Engagement: Volunteers participating in Shramdan will receive certificates to encourage future involvement.

Scope of the Campaign:

• Covers 805 projects, 6673 Gram Panchayats, and 13,587 villages in 26 States & 2 UTs.
• The campaign will last 60-90 days, focusing on sustainable soil and water management.

Important Terms Explained:

• Watershed Development Component of PMKSY 2.0 (WDC-PMKSY 2.0):
  • Objective: Aims at conserving soil and water resources for agricultural productivity and environmental sustainability.
  • Implementation: Focuses on rainwater harvesting, afforestation, and groundwater recharge.
• Public-Private-People Partnership (4Ps) Model:
  • A collaborative approach where government, private sector, and local communities work together for sustainable watershed development.
• Shramdan:
  • Meaning: Voluntary labor contribution by individuals and communities for public service projects.
  • In Watershed Yatra: Encourages community involvement in water conservation and soil preservation.

Tabular Summary:

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18. Where has India’s first Ferret Research Facility been established?
A) Pune, Maharashtra
B) Bengaluru, Karnataka
C) Faridabad, Haryana
D) Hyderabad, Telangana
E) Chennai, Tamil Nadu
Answer: C) Faridabad, Haryana

Event and Location:

• Event: India Strengthens Biomedical Research with First Ferret Research Facility
• Date: February 6, 2025
• Location: Faridabad, Haryana

Mandates and Objectives:

• Advancing Biomedical Research: The facility will focus on infectious diseases, vaccine development, and therapeutic testing.
• Pandemic Preparedness: Supports research on respiratory pathogens like influenza and coronaviruses.
• Strengthening Public Health: Enhances India’s ability to respond to emerging diseases.

Inauguration and Leadership:

• Launched at Translational Health Science and Technology Institute (THSTI), Faridabad.
• Dr. Rajesh Gokhale, Director General of Biotechnology Research and Innovation Council, led the inauguration.

Importance of Ferrets in Research:

• Ferrets are widely used in respiratory disease studies due to their similarity to humans in virus susceptibility.
• The research will contribute to the development of vaccines and treatments for infectious diseases.
• Brings India into an exclusive group of nations with high-end ferret-based biomedical research facilities.

GARBH-INi-DRISHTI Data Repository:

• A maternal and child health database containing clinical data, images, and biospecimens from over 12,000 pregnant women, newborns, and postpartum mothers.
• One of South Asia’s largest maternal health databases, aiding in healthcare strategies and improved maternal outcomes.

Technology Transfer Agreement with Sundyota Numandis Probioceuticals Pvt. Ltd.:

• Focus: Commercialization of Lactobacillus crispatus, a beneficial microbial strain discovered in the GARBH-INi cohort.
• Application: Used in nutraceuticals for women’s reproductive health, improving microbiome-based healthcare solutions.
• Significance: Strengthens India’s position in biomedical innovation and translational research.

Important Terms Explained:

• Ferret Research Facility:
  • Definition: A dedicated biomedical research center using ferrets for studying respiratory diseases, vaccine efficacy, and therapeutic responses.
  • Purpose: Helps develop new vaccines and treatments for influenza, coronaviruses, and other respiratory illnesses.
• GARBH-INi-DRISHTI Data Repository:
  • Definition: A large-scale maternal and child health database from 12,000+ pregnant women, newborns, and postpartum mothers.
  • Significance: Aids in advanced research for improving maternal healthcare.
• Lactobacillus crispatus:
  • Definition: A beneficial bacterial strain isolated from women’s reproductive tracts.
  • Use: Applied in nutraceuticals to promote reproductive health.

Tabular Summary:

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19. How many forms were filed on the MCA21 V3 platform from April 1, 2024, to January 27, 2025?
A) 47.72 lakh
B) 53.08 lakh
C) 80.26 lakh
D) 73.29 lakh
E) 45.11 lakh
Answer: B) 53.08 lakh

Event and Location:

• Event: MCA21 Records 80.26 Lakh Form Filings from April 2024 to January 2025
• Date: February 3, 2025
• Location: India (MCA21 Portal)

Mandates and Objectives:

• Ease of Doing Business: MCA21, India’s first Mission Mode e-Governance project, facilitates end-to-end registry and incorporation services for companies and LLPs, streamlining business operations.
• Enhanced Digital Solutions: The newly developed MCA21 V3 platform improves stakeholder engagement, boosts security, and simplifies form filing through web-based and real-time validation features.

Record Form Filings:

• A total of 80.26 lakh forms were filed on the MCA21 portal between April 1, 2024, and January 27, 2025, compared to 73.29 lakh forms in the same period last year.
• On the newly developed MCA21 V3 platform, 53.08 lakh forms were filed, up from 47.72 lakh in the previous year, marking a significant improvement in stakeholder engagement.

Features of MCA21 V3 Platform:

• Web-Based Forms: Introduced to enable real-time data validation and ease of use.
• User Registration Process: Enhances user identification and allows stakeholders to:
  • Track the status of their filed forms.
  • Download challans and certificates directly from the dashboard.
• Live Chat Helpdesk: Provides real-time assistance to stakeholders, improving user experience.

Enhanced Security Measures:

• Data Protection Standards: Adheres to MEITY guidelines, CERT-In regulations, ISO 27001, and established information security protocols.
• Multi-Factor Authentication: Verifies user identity to prevent unauthorized access.
• Masking Private Information: Ensures confidentiality by concealing sensitive data from public view.

Important Terms Explained:

• MCA21:
  • India’s first Mission Mode e-Governance Project, launched under the National eGovernance Plan (NeGP) in 2006.
  • Provides end-to-end services for corporate registry and incorporation.
• Mission Mode Project (MMP):
  • A strategic initiative under NeGP aimed at delivering e-Governance solutions in a specific domain, such as tax filing, business incorporation, or education.
• Ease of Doing Business:
  • Refers to policies and initiatives aimed at simplifying regulatory requirements for businesses, making it easier to start and operate enterprises.

Tabular Summary:

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20. What is the primary focus of the MoU signed between IEPFA and ACCA?
A) Conducting financial literacy campaigns for adults
B) Promoting financial literacy for school children through experiential learning
C) Training chartered accountants in rural areas
D) Establishing a financial audit program for schools
E) Offering scholarships to students pursuing finance
Answer: B) Promoting financial literacy for school children through experiential learning

Event and Location:

• Event: Investor Education and Protection Fund Authority (IEPFA) Signs MoU with ACCA
• Date: February 3, 2025
• Location: India

Mandates and Objectives:

• Promoting Financial Literacy for Students: The IEPFA and ACCA collaboration aims to develop a digital program focusing on experiential learning to enhance financial literacy among school children, especially in rural areas.
• Teacher Training for Effective Delivery: The program will include training of school teachers to ensure effective dissemination of financial knowledge.

Purpose of the MoU:

• Signed between the Investor Education and Protection Fund Authority (IEPFA) and Strategic Educational Professionals Pvt. Ltd., a subsidiary of the Association of Chartered Certified Accountants (ACCA).
• Objective: To develop a digital experiential learning program targeting financial literacy for school children.

Pilot Project for Schools:

• The program will be introduced in select schools, including those in rural areas, as part of a pilot project.
• Aims to provide financial literacy content tailored for younger audiences.

Training School Teachers:

• The delivery mechanism involves training school teachers, enabling them to effectively impart financial literacy concepts to students.

Important Terms Explained:

• Investor Education and Protection Fund Authority (IEPFA):
  • Established Under: The Companies Act, 2013.
  • Purpose: To promote financial literacy, investor education, and protect investor interests.
• Association of Chartered Certified Accountants (ACCA):
  • Global Professional Body: Focuses on finance and accounting education.
  • Objective: To create opportunities through education and qualification in finance-related fields.

Experiential Learning:

• A hands-on approach to education where students learn by doing, observing, and experiencing real-world scenarios.

Tabular Summary:

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Over All Review

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