Daily Current Affairs February 11

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February 11 | Daily Current Affairs 2024

Important Days – Daily Current Affairs February 11

1. When is the International Day of Women and Girls in Science 2025 celebrated, and what is its theme?
A) February 28; “Women in Innovation and Research”
B) February 11; “Unpacking STEM Careers: Her Voice in Science”
C) March 8; “Gender Equality in Science”
D) April 22; “Women Empowerment in Technology”
E) January 15; “Science for a Sustainable Future”
Answer: B) February 11; “Unpacking STEM Careers: Her Voice in Science”

Event and Location:

• Event: International Day of Women and Girls in Science 2025
• Date: February 11, 2025
• Location: Global
• Theme: Unpacking STEM Careers: Her Voice in Science

Historical Background:

• March 14, 2011: The UN Commission on the Status of Women emphasized the role of women in STEM.
• December 20, 2013: The UN General Assembly adopted a resolution for equal access to STEM for women and girls.
• 2015: The UN officially declared February 11 as International Day of Women and Girls in Science.

Significance of Gender Equality in Science:

• STEM Inclusion: Gender equality in STEM is essential for economic development and achieving the 2030 Sustainable Development Goals.
• Innovation and Growth: Closing the gender gap in science promotes more research, scientific excellence, and technological advancements.

Challenges Faced by Women in STEM:

• Gender Bias and Stereotypes: STEM careers are often seen as male-dominated, discouraging women.
• Lack of Role Models: Fewer women in leadership positions result in less inspiration for young girls.
• Limited Career Advancement: Women face barriers to promotions and research funding.
• Pay Gap and Workplace Discrimination: Women in STEM earn less than men and face hiring biases.
• Work-Life Balance Issues: Family responsibilities often limit career growth in STEM fields.

Global Initiatives to Support Women in Science:

• L’Oréal-UNESCO For Women in Science Program: Recognizes and funds female researchers.
• UNESCO and UN Women Educational Programs: Provide scholarships and research grants.
• Women in Tech Conferences: Offer networking opportunities to help women advance in STEM careers.

Impact of Women in Science:

• Marie Curie: Pioneered research on radioactivity and won two Nobel Prizes.
• Rosalind Franklin: Contributed to discovering the DNA double-helix structure.
• Kalpana Chawla: First Indian-origin woman astronaut who inspired future space explorers.
• Katherine Johnson: NASA mathematician whose calculations helped Apollo missions succeed.

Steps to Bridge the Gender Gap in STEM:

• Breaking Stereotypes: Awareness campaigns to challenge gender biases in STEM.
  Promoting Female Role Models: Showcasing successful women in science.
• Providing Scholarships and Funding: Encouraging women to pursue STEM education.
• Ensuring Equal Pay and Career Growth: Addressing salary disparities and workplace discrimination.
• Implementing Supportive Policies: Flexible work hours, maternity leave, and mentorship programs.

Tabular Summary:

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Sports – Daily Current Affairs February 11

2. What is the name of the organ donation awareness initiative launched by ICC?
A) Save Lives, Donate Organs
B) Donate Organs, Save Lives
C) Pledge for Life
D) Cricket for Donation
E) Life After Life
Answer: B) Donate Organs, Save Lives

Event and Location:

• Event: BCCI-ICC Organ Donation Awareness Initiative
• Date: February 12, 2025
• Location: Ahmedabad, India

Initiative Details:

• Campaign Name: Donate Organs, Save Lives
• Announced By: ICC Chief Jay Shah
• Objective: Raise awareness about organ donation and encourage people to pledge as donors

Key Highlights:

• Launch Event: The initiative will debut during the India vs England 3rd ODI in Ahmedabad.
• Cricketer Involvement: Indian players will actively support and promote organ donation.
• Promotion Methods: Social media, stadium displays, and live match coverage.
• Public Participation: Fans may pledge organ donation online or at the venue.

Message from Jay Shah:

• Inspiration Through Cricket: Cricket has the power to unite and drive social change.
• Encouraging Participation: A single pledge can save multiple lives.

Sunil Gavaskar’s Appeal to BCCI:

• Charity Match Request: Urged BCCI to dedicate a day for charity like Australia’s Pink Test.
• Visibility of Efforts: Stated that BCCI runs charity programs, but they need more publicity.

Expected Impact:

• Public Awareness: Increased understanding of organ donation.
• Higher Donor Registration: Encouraging more people to pledge as organ donors.

Tabular Summary:

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3. Which legendary footballer announced his retirement in February 2025 at the age of 36?
A) Dani Alves
B) Marcelo
C) Sergio Ramos
D) Luka Modric
E) Neymar
Answer: B) Marcelo

Event and Location:

• Event: Real Madrid Legend Marcelo Retires from Football
• Date: February 2025
• Location: Global

Early Career & Real Madrid Move:

• First Club: Began his professional journey at Fluminense (Brazil).
• Madrid Signing: Joined Real Madrid in 2007 at just 18 years old.
• Madrid Legacy: Played 16 seasons with the club, becoming one of their greatest defenders.

Achievements with Real Madrid:

• Total Trophies Won: 25 major titles in 15 years.

Key Titles:

• 5 UEFA Champions League titles
• 6 La Liga titles
• 2 Copa del Rey titles
• 5 FIFA Club World Cups
• 3 UEFA Super Cups
• Club Captaincy: Became Real Madrid’s captain in 2021, the first non-Spaniard to hold the armband in 117 years.

International Career with Brazil:

• National Caps: Represented Brazil 58 times.
• Major Tournaments: Played a crucial role in Brazil’s defense for over a decade.

Later Years & Retirement:

• Olympiacos Stint: Left Real Madrid in 2022 and joined Olympiacos, but terminated his contract in five months.
• Fluminense Return: Played 68 matches from 2023 to 2024 before parting ways in November 2024.
• Retirement Announcement: Officially retired in February 2025, expressing a desire to remain in football.

Tabular Summary:

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4. Which tennis player won his first indoor hardcourt title at the Rotterdam Open 2025?
A) Novak Djokovic
B) Jannik Sinner
C) Rafael Nadal
D) Carlos Alcaraz
E) Daniil Medvedev
Answer: D) Carlos Alcaraz

Event and Location:

• Event: Carlos Alcaraz Wins Rotterdam Open 2025
• Date: February 11, 2025
• Location: Rotterdam, Netherlands

Historic Feats:

• First Indoor Title: Alcaraz added an indoor hardcourt trophy to his collection of grass, clay, and outdoor hardcourt titles.
• Spanish Record: Became the first Spaniard to win the Rotterdam Open in 52 years.
• Surpassing His Coach: With 17 ATP titles, he surpassed Juan Carlos Ferrero, his coach, in career ATP wins.

Challenges Faced:

• Health Issues: Played while recovering from a cold, wearing a nasal strip for breathing.
• Tough Road to Title: Won three three-set matches, including a hard-fought semifinal against Hubert Hurkacz.

Final Match Highlights:

• First Set (6-4): Broke back immediately after losing his serve to take control.
• Second Set (3-6): Lost momentum as de Minaur dictated play.
• Deciding Set (6-2): Dominated by forcing errors from de Minaur.

Other Key Facts:

• Fastest Champion in 21 Years: First player in 21 years to win Rotterdam Open on debut.
• De Minaur’s Runner-Up Streak: Lost in the Rotterdam Open final for the second consecutive year, after falling to Jannik Sinner in 2024.

Tabular Summary:

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5. Which team in The Hundred did Mumbai Indians acquire a 49% stake in?
A) Manchester Originals
B) Oval Invincibles
C) Trent Rockets
D) Northern Superchargers
E) Birmingham Phoenix
Answer: B) Oval Invincibles

Event and Location:

• Event: Mumbai Indians Acquire 49% Stake in The Hundred’s Oval Invincibles
• Date: February 11, 2025
• Location: United Kingdom

Key Details of the Acquisition:

• Acquiring Entity: Reliance Industries (RISE Worldwide)
• Stake Acquired: 49% in Oval Invincibles
• Primary Stakeholder: Surrey County Cricket Club (Surrey CCC)
• League: The Hundred (England & Wales Cricket Board’s 100-ball tournament)

Mumbai Indians’ Global Expansion:

• MI now owns seven cricket teams across five countries and four continents:
  • India: IPL (Mumbai Indians), WPL (Mumbai Indians Women)
  • UAE: ILT20 (MI Emirates)
  • USA: MLC (MI New York)
  • South Africa: SA20 (MI Cape Town)
  • England: The Hundred (Oval Invincibles)

Oval Invincibles’ Performance in The Hundred:

• Men’s Team: Champions in 2023 & 2024
• Women’s Team: Champions in 2021 & 2022

Statements from Leadership:

• Nita Ambani (MI Owner): “Welcoming Oval Invincibles into the MI family is a proud moment.”
• Akash Ambani (RIL Director): “Having the Oval as our home venue is truly special.”
• Oli Slipper (Surrey CCC Chair): “Reliance’s partnership will ensure long-term success.”

Details About The Hundred League:

• Format: 100-ball per innings cricket league in the UK.
• Organizer: England and Wales Cricket Board (ECB).
• Teams: 8 city-based men’s and women’s teams.
• 2025 Season Start Date: August 5, 2025.
• Opening Fixture: August 6, 2025 (Double Header).

Other Major Investments in The Hundred:

• RPSG Group (Owner of Lucknow Super Giants) acquired a majority stake in Manchester Originals for £107 million.
• ECB Model: Selling 49% stakes in teams while host counties retain 51% ownership.
  Mumbai Indians’ Achievements Across Leagues:
• Total Titles Won: 11 major trophies across different competitions.
• IPL: 5 titles.
• Champions League T20: 2 titles.
• Other Leagues: ILT20, MLC, SA20, WPL champions.

Tabular Summary:

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6. Who won the 2025 Mumbai Open singles title?
A) Aryna Sabalenka
B) Jil Teichmann
C) Mananchaya Sawangkaew
D) Rebecca Marino
E) Elena Rybakina
Answer: B) Jil Teichmann

Event and Location:

• Event: Jil Teichmann Wins Mumbai Open 2025
• Date: February 9, 2025
• Location: Cricket Club of India, Mumbai

Final Match – Singles:

• Winner: Jil Teichmann (Switzerland)
• Runner-up: Mananchaya Sawangkaew (Thailand)
• Final Score: 6-3, 6-4

Tournament Overview:

• Category: WTA 125 event
• Surface: Hardcourt (Outdoor)
• Venue: Cricket Club of India, Mumbai
• Edition: 4th (Previously held in 2017, 2018, and 2024)

Prize Money & WTA Points:

• Winner’s Prize: $15,000 + 125 WTA points
• Runner-up’s Prize: $8,400 + 81 WTA points

Path to the Final:

• Jil Teichmann defeated Maaya Rajeshwaran Revathi (India) in the semifinal.
• Mananchaya Sawangkaew defeated Rebecca Marino (Canada) in the semifinal.

Doubles Final:

• Winners: Elena Pridankina & Amina Anshba (Russia)
• Runners-up: Prarthana Thombare (India) & Arianne Hartono (Netherlands)
• Final Score: 6(4)-7(7), 6-2, 10-7
• Note: Russian players competed as neutrals due to Russia’s suspension from international tennis events.

About the Mumbai Open:

• First Held: 2017 (Winner: Aryna Sabalenka)
• Only WTA event in India
• Formats: Singles & Doubles
• Court Type: Hardcourt

Women’s Tennis Association (WTA) Details:

• Founded: 1973 by Billie Jean King (USA)
• Headquarters: Florida, USA
• WTA Tournament Levels:
  • WTA 1000
  • WTA 500
  • WTA 250
  • WTA 125 (Mumbai Open is a WTA 125 event)

Tabular Summary:

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7. Who won the 2025 Chennai Open men’s singles title?
A) Elias Ymer
B) Dalibor Svrcina
C) Kyrian Jacquet
D) Ramkumar Ramanathan
E) Shintaro Mochizuki
Answer: C) Kyrian Jacquet

Event and Location:

• Event: Kyrian Jacquet Wins 2025 Chennai Open
• Date: February 9, 2025
• Location: SDAT Tennis Stadium, Nungambakkam, Tamil Nadu

Final Match – Singles:

• Winner: Kyrian Jacquet (France)
• Runner-up: Elias Ymer (Sweden)
• Final Score: 7(7)-6(1), 6-4
• Venue: SDAT Tennis Stadium, Tamil Nadu

Tournament Overview:

• Event Type: ATP 100 Challenger Tournament
• Tournament Dates: February 3-9, 2025
• Winner’s Prize Money: $17,500 + 100 ATP Points

Kyrian Jacquet’s Road to Victory:

• Semi-final: Defeated Dalibor Svrcina (Czechia) 6-4, 6-1
• Final: Defeated Elias Ymer (Sweden) 7(7)-6(1), 6-4

Doubles Final:

• Winners: Shintaro Mochizuki & Kaito Uesugi (Japan)
• Runners-up: Ramkumar Ramanathan & Saketh Myneni (India)
• Final Score: 6-4, 6-4

ATP Challenger Tournaments in India (2025):

• Chennai Open (Feb 3-9) – ATP 100
• Bengaluru Open (Feb 10-16) – ATP 100
• Pune Open (Feb 17-23) – ATP 100
• Delhi Open (Feb 24-Mar 2) – ATP 75

About the ATP Challenger Tour:

• Organized by: Association of Tennis Professionals (ATP)
• Purpose: Helps players earn ranking points to qualify for ATP Tour events.
• Chennai Open Level: ATP 100

Tabular Summary:

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Banking and Finance – Daily Current Affairs February 11

8. Who is chairing the RBI Working Group set up to review financial market timings?
A) Shaktikanta Das
B) Ravi Ranjan
C) Radha Shyam Ratho
D) Lalit Tyagi
E) Dimple Bhandia
Answer: C) Radha Shyam Ratho

Event and Location:

• Event: RBI’s Review of Financial Market Timings
• Date: February 11, 2025
• Location: India

Reason for Review:

• Market Evolution: The financial market in India has transformed significantly due to technological advancements.
• Global Trends: Increased foreign participation and 24×5 trading in forex and derivatives require updated market timings.
• Liquidity & Efficiency: Aligning settlement systems with global standards ensures smoother transactions and better price discovery.

Chairperson of the Working Group:

• Radha Shyam Ratho: Executive Director, RBI

Other Key Members:

• Ravi Ranjan: Deputy Managing Director, State Bank of India
• Lalit Tyagi: Executive Director, Bank of Baroda
• Ashish Parthasarthy: Group Head of Treasury, HDFC Bank
• Parul Mittal Sinha: Head of Financial Markets, Standard Chartered Bank
• Ashwani Sindhwani: CEO, Foreign Exchange Dealers’ Association of India (FEDAI)
• Ravindranath Gandrakota: CEO, Fixed Income Money Market and Derivatives Association of India (FIMMDA)
• Shailendra Jhingan: Chairperson, Primary Dealers’ Association of India (PDAI)
• Dimple Bhandia: Chief General Manager, Financial Markets Regulation Department, RBI (Member Secretary)

Key Focus Areas:

• Market Timings Review: Assessing existing trading hours across banking, forex, securities, and derivatives.
• Liquidity & Volatility: Identifying challenges caused by current market timings, including inefficiencies.
• Global Benchmarking: Comparing India’s market timings with international best practices.
• Impact Assessment: Studying operational costs and benefits of revised timings.
• Recommendations: Aligning market operations with evolving financial structures.

Historical Context:

• 2018 RBI Initiative: The RBI formed an internal group to review market timings.
• 2019 Report: The group published recommendations on settlement structures and market operations.
• Current Review Need: Increased foreign participation and digital advancements necessitate an updated study.

Future Developments:

• Stakeholder Engagement: The Working Group will consult with banks, traders, and financial institutions.
• Final Report: The report is expected by April 30, 2025 and could lead to significant market reforms.

Tabular Summary:

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9. When has the RBI deferred the implementation of Liquidity Coverage Ratio (LCR) and project financing norms?
A) March 31, 2025
B) April 1, 2025
C) March 31, 2026
D) April 1, 2026
E) December 31, 2025
Answer: C) March 31, 2026

Event and Location:

• Event: RBI Defers Liquidity Coverage Ratio (LCR) and Project Financing Norms
• Date: February 11, 2025
• Location: India

Liquidity Coverage Ratio (LCR):

• Definition: LCR requires banks to hold high-quality liquid assets (HQLAs) to cover net cash outflows over 30 days.
• New Requirement: Banks were to maintain an additional 5% run-off factor for retail deposits from internet and mobile banking.
• Potential Impact: Estimated ₹4 lakh crore could have been moved from lending to government securities, restricting credit availability.

Why Did RBI Postpone the Norms?

• Banking Sector Concerns: Public and private banks warned that strict LCR norms could reduce loan availability and cause liquidity stress.
• RBI Consultation: In January 2025, the RBI discussed with banks and decided to defer the norms for a phased implementation.
• RBI’s Statement: Governor Sanjay Malhotra assured that the delay ensures financial stability without disrupting credit flow.

Expected Impact of LCR Delay:

• Additional Compliance Time: Banks get more time to adjust without liquidity stress.
  Credit Availability Maintained: Lending remains unaffected, supporting economic growth.
• Phased Rollout Approach: RBI to introduce a gradual implementation strategy for smooth transition.

Tabular Summary:

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Business and Economy – Daily Current Affairs February 11

10. Which sports drink was launched by Reliance Consumer Products Ltd (RCPL) in collaboration with Muttiah Muralitharan?
A) Powerade
B) Gatorade
C) RasKik
D) Spinner
E) Aptonia
Answer: D) Spinner

Event and Location:

• Event: Reliance Launches ‘Spinner’ Sports Drink with Muttiah Muralitharan
• Date: February 11, 2025
• Location: India

Key Features of Spinner:

• Company: Reliance Consumer Products Ltd (RCPL)
• Co-Creator: Muttiah Muralitharan
• Category: Sports Hydration Drink
• Price: ₹10 for 150 ml
• Flavors: Lemon, Orange, Nitro Blue

Competitive Pricing Strategy:

• Spinner (RCPL): ₹10 for 150 ml
• Gatorade (PepsiCo): ₹50 for 500 ml
• Powerade (Coca-Cola): ₹50 for 500 ml
• Aptonia (Decathlon): ₹99 for 400 ml

IPL Partnerships for Brand Visibility:

• Lucknow Super Giants (LSG)
• SunRisers Hyderabad (SRH)
• Punjab Kings (PBKS)
• Gujarat Titans (GT)
• Mumbai Indians (MI)

RCPL’s Expansion into Beverages:

• Campa Cola Revival (2023) – Entered soft drinks segment.
• RasKik Gluco Energy (January 2025) – Entered energy drink market.
• Spinner (February 2025) – Entered sports hydration drink market.

Future Vision for Sports Beverage Market:

• Goal: Establish a $1 billion sports beverage category within 3 years.
• COO Ketan Mody: Aims to make hydration affordable & accessible.
• Muttiah Muralitharan: Calls Spinner a “game-changer” in hydration.

Tabular Summary:

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Appointments – Daily Current Affairs February 11

11. Who has been appointed as the new CEO of Nokia, effective April 1, 2025?
A) Satya Nadella
B) Sundar Pichai
C) Justin Hotard
D) Mark Zuckerberg
E) Elon Musk
Answer: C) Justin Hotard

Event and Location:

• Event: Nokia Appoints Justin Hotard as New CEO
• Date: April 1, 2025
• Location: Global
• Reason for Announcement: Nokia announced Justin Hotard as its new CEO, succeeding Pekka Lundmark on April 1, 2025.

New CEO Details:

• Name: Justin Hotard
• Previous Role: EVP & GM, Data Center & AI Group, Intel
• Key Expertise: AI, data centers, and technology growth

Outgoing CEO:

• Name: Pekka Lundmark
• Tenure: Served as Nokia’s CEO since 2020
• Post-Exit Role: Advisor until end of 2025

Leadership Transition & Business Strategy:

• Planned Change: Lundmark stepping down after completing Nokia’s strategic repositioning.
• Industry Focus: Nokia shifting towards AI and data centers due to declining 5G equipment sales.

Nokia’s Business Adjustments:

• New Growth Areas: Strengthening AI and data center market presence.
• Workforce Reduction: 2,000 job cuts in China, 350 in Europe to control costs.

Tabular Summary:

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12. Who has been appointed as Director in the Ministry of Steel under the Central Staffing Scheme?
A) Rajeev Ranjan
B) Anurag Jain
C) Maimun Alam
D) Sanjay Malhotra
E) Alok Chaturvedi
Answer: C) Maimun Alam

Event and Location:

• Event: IRS Officer Maimun Alam Appointed as Director in the Ministry of Steel
• Date: February 11, 2025
• Location: India

Maimun Alam’s Professional Background:

• Service: Indian Revenue Service (IRS) – Income Tax
• Batch: 2007
• Expertise: Tax administration, financial governance, revenue policy formulation
• Previous Role: Served in the Department of Revenue

Her Role as Director in the Ministry of Steel:

• Oversee policy execution & strategic planning for the steel sector.
• Strengthen financial oversight in steel production & exports.
• Support capacity expansion & sustainability policies.

Appointment Details:

• Appointing Authority: Government of India
• Recommendation By: Department of Revenue
• Relieving Authority: Department of Personnel & Training (DoPT)
• Tenure: Five years or until further orders

Ministry of Steel – Key Focus Areas:

• Capacity Expansion – Boosting steel production.
• Raw Material Security – Ensuring stable supply chains.
• Sustainability – Promoting green steel manufacturing.
• Exports & Domestic Growth – Strengthening India’s global steel presence.

Tabular Summary:

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Defence – Daily Current Affairs February 11

13. What is the new name of the upgraded Hindustan Jet Trainer (HJT-36)?
A) Tejas Mark II
B) Prachand
C) Yashas
D) Dhruv
E) Rudra
Answer: C) Yashas

Event and Location:

• Event: HAL’s Hindustan Jet Trainer (HJT-36) Renamed ‘Yashas’
• Date: February 11, 2025
• Location: Aero India 2025, India
• Renaming & Unveiling: The aircraft was unveiled at Aero India 2025 by Sanjeev Kumar, Secretary (Defence Production) in the presence of HAL Chairman & MD Dr. D K Sunil.

Upgrades & Enhancements:

• Flight Safety Improvements: Enhanced departure characteristics and spin resistance for safer pilot training.
• Weight Reduction: Indigenous Line Replaceable Units (LRUs) replaced obsolete imported components.
• Operational Readiness: Designed for Stage II pilot training, aerobatics, and counter-insurgency missions.

Cockpit & Performance Enhancements:

• Advanced Avionics: Features a glass cockpit, Multi-Function Displays (MFDs), and Head-Up Display (HUD).
• Visibility Upgrade: A stepped-up rear cockpit and drooped nose provide better situational awareness.
• Engine Upgrade: Powered by FADEC-controlled AL-55I jet engine for improved thrust management.

Key Capabilities of ‘Yashas’:

• Stall & Spin Recovery: Designed to help pilots recover from dangerous flight situations.
• Aerobatics Training: Aircraft capable of high-maneuverability exercises.
• Armament Capacity: Can carry up to 1,000 kg of weapons for counter-insurgency operations.
• Single-Point Refueling: Allows faster turnaround for continuous training missions.

Operational Significance:

• Multi-Role Functionality: Supports advanced pilot training and combat-readiness programs.
• Enhanced Efficiency: Lightweight design and modern avionics improve overall operational effectiveness.

Tabular Summary:

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14. Which joint military exercise was conducted by the Indian Army and IAF in the Eastern Theater?
A) Vayu Shakti
B) Yudh Abhyas
C) Winged Raider
D) Vajra Prahar
E) Gagan Shakti
Answer: C) Winged Raider

Event and Location:

• Event: Indian Army & IAF Conduct ‘Winged Raider’ Exercise
• Date: February 11, 2025
• Location: Eastern Theater, India

Key Features of ‘Winged Raider’:

• Forces Involved: Indian Army & IAF conducted coordinated airborne drills.
• Special Forces Participation: Elite Indian Army Special Forces were involved in rapid deployment training.
• First-Time Use of Chinook Helicopters: Chinooks were deployed for airborne troop insertion in the Eastern Theater.
• Objective: Enhance inter-service coordination, tactical maneuvering, and mission readiness.

How This Exercise Strengthens India’s Defense Readiness:

• Modern Warfare Preparation: Practiced troop insertion techniques, coordinated attacks, and swift movement in operational zones.
• Border Defense: Strengthened India’s high-altitude warfare strategy to counter potential threats.
• Integration with Future Plans: Supports India’s push for Integrated Theater Commands, ensuring seamless joint operations between the Army, IAF, and Navy.

Linked Development – Tejas Flight by Service Chiefs:

• On February 9, 2025, Army Chief Gen. Upendra Dwivedi and Air Chief Marshal Amar Preet Singh flew together in the LCA Tejas, symbolizing greater collaboration between the Indian Army and IAF.

Tabular Summary:

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International Affairs – Daily Current Affairs February 11

15. When will the India-Israel Business Forum and India-Israel CEO Forum take place?
A) January 26, 2025
B) February 11, 2025
C) March 5, 2025
D) April 15, 2025
E) December 20, 2025
Answer: B) February 11, 2025

Event and Location:

• Event: India-Israel Business & CEO Forums 2025
• Date: February 11, 2025
• Location: New Delhi, India

India-Israel Business Forum:

• Organizers: DPIIT (Ministry of Commerce & Industry), Embassy of Israel, and CII
• Key Participants: Israeli business delegation led by H.E. Nir M. Barkat, Minister of Economy and Industry of Israel
• Objective: Strengthen trade relations, encourage cross-sector collaborations, and boost foreign direct investment (FDI).

Key Focus Areas:

• Technology & Innovation: Collaboration in AI, digital transformation, and smart manufacturing.
• Defense & Security: Joint efforts in cybersecurity, defense technology, and homeland security.
• Renewable Energy & Sustainability: Cooperation in green technologies and water conservation.
• Healthcare & Life Sciences: Partnerships in medical research, pharmaceuticals, and biotech investments.
• Agriculture & Food Security: Implementation of precision agriculture and drip irrigation techniques.

India-Israel CEO Forum:

• Organizer: FICCI
• Participants: Top CEOs, senior executives, and policymakers from India and Israel.
• Key Discussions: Investment strategies, policy frameworks, and bilateral trade expansion.
• Business Growth Focus: Strengthening partnerships in electronics, pharmaceuticals, defense, and IT sectors.

Bilateral Trade & Investments:

• Trade Diversification: Expanding from diamonds and metals to engineering, chemicals, electronics, and agriculture.
• Israeli Investments in India: Growth in renewable energy, water technology, defense, and manufacturing.
• Indian Investments in Israel: Key sectors include pharmaceuticals, IT, and infrastructure.

Strategic Significance:

• Economic Cooperation: Aligns with India’s vision of becoming a Viksit Bharat by 2047 and Israel’s push for global partnerships.
• FDI & Joint Ventures: Encourages collaboration between Indian and Israeli companies in emerging technologies and industrial sectors.

Tabular Summary:

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16. Which economic initiative was inaugurated to strengthen trade between India and EFTA (Switzerland, Norway, Iceland, Liechtenstein)?
A) India-EU Business Council
B) India-EFTA Desk
C) Indo-Pacific Economic Partnership
D) India-ASEAN Trade Hub
E) BRICS Economic Forum
Answer: B) India-EFTA Desk

Event and Location:

• Event: Inauguration of India-EFTA Desk
• Date: February 11, 2025
• Location: New Delhi, India

Purpose of the India-EFTA Desk:

• Trade & Investment Facilitation: Acts as a bridge for businesses to simplify regulations and ease investments.
• Economic Growth: India aims to attract $100 billion in EFTA investments.
• Technology & Innovation: Supports partnerships in AI, smart manufacturing, and digital transformation.

EFTA’s Commitment to India:

• Switzerland: $10 billion FDI, creating 146,000+ jobs in manufacturing and precision industries.
• Norway: Sovereign wealth fund investments reached $31.4 billion; focus on energy and trade expansion.
• Iceland: Expanding cooperation in renewable energy, seafood, and pharmaceuticals.
• Liechtenstein: Encouraging investment in high-value manufacturing and innovation-driven industries.

Key Focus Areas for India-EFTA Collaboration:

• Technology & Innovation: AI, digital transformation, and smart manufacturing.
• Clean Energy & Sustainability: Renewable energy, water conservation, and green technology.
• Healthcare & Pharmaceuticals: Research partnerships and biotech collaborations.
• Agriculture & Food Security: Precision agriculture and drip irrigation solutions.

Bilateral Trade & Investment Growth:

• Trade Diversification: Expanding beyond diamonds and metals to engineering, chemicals, electronics, and agriculture.
• Investment Expansion: Defense, water technology, and manufacturing are key growth sectors.

India’s Long-Term Vision:

• The India-EFTA Desk supports India’s Viksit Bharat (Developed India) 2047 vision, promoting economic partnerships with European nations.

Tabular Summary:

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17. Which Indian department signed an MoU with South Korea’s KOTI for logistics and infrastructure development?
A) NITI Aayog
B) Ministry of Road Transport & Highways
C) Department for Promotion of Industry and Internal Trade (DPIIT)
D) Indian Railways
E) Ministry of External Affairs
Answer: C) Department for Promotion of Industry and Internal Trade (DPIIT)

Event and Location:

• Event: DPIIT & KOTI Sign MoU for Logistics & Infrastructure Growth
• Date: February 10, 2025
• Location: Sejong National Research Complex, South Korea

Key Details of the MoU:

• Signing Officials: Mr. Youngchan Kim (President, KOTI) & H.E. Amit Kumar (Indian Ambassador to South Korea).
• Objective: Enhance logistics efficiency, master planning, and technology adoption.
• Implementation Strategy: Focus on knowledge exchange, skill development, and GIS-based planning tools.

Key Focus Areas of Collaboration:

• Logistics Master Planning: South Korea’s expertise will aid India’s PM GatiShakti National Master Plan.
• Technology Integration: Adopting smart logistics solutions to enhance efficiency.
• Training & Capacity Building: Supporting skill development for logistics professionals.
• Reducing Logistics Costs: Aligning with India’s goal to lower logistics costs from 13-14% of GDP.

Historical India-South Korea Cooperation in Infrastructure:

• 2015 Agreements Signed:
  • Avoidance of Double Taxation Agreement – Simplified taxation for cross-border trade.
  • MoU on Road Transport & Highways – Improved road construction & safety.
  • MoU on Maritime Transport & Logistics – Strengthened shipping sector collaboration.
• Relevance to India’s Logistics Strategy:
  • National Logistics Policy (NLP): Launched on September 17, 2022, to reduce logistics costs and improve efficiency.
  • DPIIT 2023 Report: “Logistics Cost in India: Assessment and Long-Term Framework” outlined the sector’s financial challenges.

Tabular Summary:

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National Affairs – Daily Current Affairs February 11

18. How many total commodities are now available on the e-NAM platform after the recent expansion?
A) 200
B) 215
C) 231
D) 250
E) 275
Answer: C) 231

Event and Location:

• Event: Government Expands e-NAM with 10 New Commodities
• Date: February 11, 2025
• Location: India

New Commodities Added to e-NAM:

1. Dried Tulsi Leaves
2. Besan (Chickpea Flour)
3. Wheat Flour
4. Chana Sattu (Roasted Chickpea Flour)
5. Water Chestnut Flour
6. Asafoetida
7. Dried Fenugreek Leaves
8. Water Chestnut
9. Baby Corn
10. Dragon Fruit

Objective of Expansion:

• Improving Market Access: Enables farmers to sell more diverse products online.
• Better Price Realization: Helps farmers secure competitive prices through transparent APMC mandi trading.
• Supporting FPOs: Allows Farmer Producer Organizations (FPOs) to sell value-added products.

What is e-NAM?

• Launch Year: 2016
• Managing Body: Small Farmers Agribusiness Consortium (SFAC)
• Purpose: Unifies APMC mandis into a single national online market for better price discovery and trade transparency.

How Will Farmers Benefit?

• Standardized Quality: Directorate of Marketing and Inspection (DMI) will regulate tradable parameters.
• Expanded Market Reach: Farmers can sell beyond local mandis for better income opportunities.
• Diversification Boost: Encourages trade of high-value crops like baby corn & dragon fruit.

Tabular Summary:

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19. As of January 15, 2025, how many total Jan Dhan accounts have been opened?
A) 50 crore
B) 52 crore
C) 54.58 crore
D) 57 crore
E) 60 crore
Answer: C) 54.58 crore

Event and Location:

• Event: Over 54.5 Crore Jan Dhan Accounts Opened Till January 15, 2025
• Date: January 15, 2025
• Location: India

Key Figures & Achievements:

• Total Jan Dhan Accounts: 54.58 crore
• Women Account Holders: 30.37 crore (55.7%)
• Deposit Balance in PMJDY Accounts: ₹2.3 trillion (as of Aug 14, 2024)
• Active Accounts: 80% of total

Social Security Enrollment via Jan Dhan Accounts:

• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): 22.52 crore enrollments (10+ crore women).
• Pradhan Mantri Suraksha Bima Yojana (PMSBY): 49.12 crore enrollments (22.84 crore women).
• Atal Pension Yojana (APY): 7.25 crore enrollments (3.44 crore women, as of Dec 31, 2024).

Challenges & Future Targets:

• Inoperative Accounts: 11.30 crore (as of Nov 20, 2024), holding ₹14,750 crore.
• Decline in Inoperative Accounts (PSBs): 39.62% (2017) → 20.91% (Nov 2024).
• Future Goal: Open 3 crore more PMJDY accounts in FY 2024-25.
• Average Balance Per Account: ₹4,352 (Aug 2024), up from ₹1,065 in 2015.

Tabular Summary:

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20. Why has India introduced new HS codes for GI-tagged rice exports?
A) To impose higher taxes on rice exports
B) To classify GI-recognized rice separately from general non-basmati rice
C) To ban the export of all rice varieties
D) To limit rice exports to only a few countries
E) To reduce domestic rice production
Answer: B) To classify GI-recognized rice separately from general non-basmati rice

Event and Location:

• Event: India Introduces New HS Codes for GI-Tagged Rice Exports
• Date: February 11, 2025
• Location: India

Key Reasons for New HS Codes:

• Avoiding Export Restrictions: Ensures GI-tagged rice is not affected by export bans on non-basmati rice.
• Better Market Recognition: Helps premium Indian rice varieties get fair pricing and branding in global markets.
• Simplified Customs & Trade: Dedicated HS codes make export documentation and classification easier.

What is an HS Code?

• Harmonized System (HS) Code: A globally recognized classification system for trade goods, used for taxation, customs, and trade policies.

Key GI-Tagged Rice Varieties with New HS Codes:

• Red Rice
• Black Rice
• Kalanamak Rice

Recent Policy Changes Affecting Rice Exports:

• September 2024: Export duty on parboiled rice, husked rice, and paddy rice was reduced from 20% to 10%.
• October 2024: Export duty on parboiled and husked rice was fully removed, making them more accessible in global markets.

Impact of New HS Codes:

• Boosts Export Growth: Differentiation ensures smooth trade for GI-rice varieties.
• Protects Farmers’ Interests: Ensures better returns for farmers growing premium rice.
• Enhances India’s Position as a Global Exporter: Strengthens India’s leadership in rice exports.

India’s Rice Export Position:

• India is the world’s largest rice exporter.
• Major importing countries: China, Bangladesh, African & Middle Eastern nations.

Tabular Summary:

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Over All Review

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