Daily Current Affairs February 14

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February 14 | Daily Current Affairs 2024

Important Days – Daily Current Affairs February 14

1. What is the theme for Congenital Heart Defect Awareness Day 2025?
A) “Stronger Hearts, Brighter Futures”
B) “Remember Our Hearts”
C) “Healing Through Awareness”
D) “One Beat, One Hope”
E) “A Heart for Every Child”
Answer: B) “Remember Our Hearts”

Event and Location:

• Event: Congenital Heart Defect Awareness Day 2025
• Date: February 14, 2025
• Location: Worldwide

Mandates and Objectives:

• Raise awareness about Congenital Heart Defects (CHD), a common birth disorder affecting millions.
• Educate the public on early detection, symptoms, and treatments available for CHD.
• Encourage support for families affected by CHD through fundraising and awareness campaigns.
• Promote advancements in medical treatments for CHD patients.

Key Highlights of Congenital Heart Defect Awareness Day 2025:

• Theme: “Remember Our Hearts”
• CHD Statistics:
  • Affects 8 out of every 1000 babies born.
  • 40,000 babies in the US are born with CHD annually.
  • Some CHDs are undetected until later in life.
• Medical Contributions:
  • Dr. Ravinder Singh Rao, a leading cardiologist, advocates for CHD awareness and treatment.
  • His work includes dispelling myths and promoting early diagnosis of CHD.
• How CHD Develops:
  • Occurs when the heart or nearby blood vessels fail to develop properly before birth.
  • Possible genetic & environmental causes, though exact reasons remain unclear.

Timeline of Congenital Heart Defect Awareness History:

How to Observe Congenital Heart Defect Awareness Day:

• Spread Awareness: Educate people on CHD symptoms and management.
• Share Your Story: Survivors can inspire others by sharing personal experiences.
• Social Media Advocacy: Use #CHDAwareness to promote CHD facts and stories online.

5 Interesting Facts About CHD:

1. Newborns & Heart Defects: 100–200 deaths annually occur due to undetected heart defects in newborns.
2. CHD is Common: It is as prevalent as autism.
3. CHD in Adults & Children: Equal numbers of adults and children live with CHD.
4. Lack of Tracking: The US lacks a unified monitoring system for CHD after early childhood.
5. Early Diagnosis Saves Lives: Screening before birth can improve CHD survival rates.

Why Congenital Heart Defect Awareness Day is Important:

• It Raises Awareness: Helps communities understand CHD and its impact.
• It Encourages Research Funding: Awareness campaigns help raise money for CHD research.
• It Improves Lives: More awareness leads to better treatment and support for CHD patients.

Important Terms Explained:

• Congenital Heart Defect (CHD):
  • A heart abnormality present at birth.
  • Can affect heart structure, blood flow, or function.
  • Some CHDs require surgery, while others can be managed with medication.
• Balloon Angioplasty:
  • A minimally invasive heart procedure used to open narrowed blood vessels.
  • Commonly used for treating congenital heart conditions.
• Bypass Surgery:
  • A surgical procedure to improve blood flow to the heart.
  • Used for severe CHDs or blocked arteries.

Tabular Summary:

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Ranking – Daily Current Affairs February 14

2. Who topped Bloomberg’s 2025 list of Asia’s wealthiest families?
A) Chearavanont Family
B) Kwok Family
C) Jindal Family
D) Mukesh Ambani Family
E) Birla Family
Answer: D) Mukesh Ambani Family

Event and Location:

• Event: Mukesh Ambani tops Bloomberg’s 2025 Asia’s Wealthiest Families list
• Date: February 14, 2025
• Location: Asia

Mandates and Objectives:

• Highlight the top business families shaping Asia’s economy.
• Recognize the contribution of dynastic wealth to global industries.
• Showcase India’s growing influence in global business rankings.

Key Highlights of Bloomberg’s 2025 Asia’s Richest Families List:

• Mukesh Ambani & Reliance Industries:
  • Rank 1: Asia’s richest family in 2025.
  • Reliance has diversified into oil refining, technology, financial services, and green energy.
  • Mukesh Ambani took over the business in 2002 after the passing of Dhirubhai Ambani.
  • His children actively manage different divisions of the company.
• Other Indian Families in the Top 20:
  • Mistry Family (Rank 4) – Shapoorji Pallonji Group:
    • Key shareholders in Tata Sons, managing the $400 billion Tata Group.
  • Jindal Family (Rank 7) – O.P. Jindal Group:
    • Started in 1952, expanded into steel, energy, cement, and sports.
  • Birla Family (Rank 9) – Aditya Birla Group:
    • A business empire dating back to the 19th century, now led by Kumar Mangalam Birla.
  • Bajaj Family (Rank 13) – Bajaj Group:
    • Founded in 1926, initially known for scooters, later diversified into cement, finance, and electronics.
  • Hinduja Family (Rank 18) – Hinduja Group:
    • Founded in 1914, operates in energy, automotive, finance, and healthcare across Mumbai, London, and Geneva.

Top Ranked Families in Bloomberg’s 2025 List:

Important Terms Explained:

• Bloomberg’s Asia’s Wealthiest Families List:
  • An annual ranking of the richest family-owned businesses across Asia.
  • Measures net worth, business expansion, and influence in global markets.
• Reliance Industries:
  • India’s largest conglomerate, led by Mukesh Ambani.
  • Operates in oil, telecom (Jio), retail, and green energy.
• Shapoorji Pallonji Group:
  • One of India’s oldest business groups with a major stake in Tata Sons.
• National Influence of Indian Business Families:
  • Indian families dominate six out of the top 20 richest business groups in Asia.
  • These businesses contribute significantly to India’s economy and global trade.

Tabular Summary:

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Banking and Finance – Daily Current Affairs February 14

3. Why is the Reserve Bank of India (RBI) injecting ₹2.5 lakh crore into the banking system?
A) To increase inflation
B) To counter liquidity shortages caused by forex interventions and fiscal outflows
C) To raise interest rates on loans
D) To reduce bank lending
E) To support only private sector banks
Answer: B) To counter liquidity shortages caused by forex interventions and fiscal outflows

Event and Location:

• Event: RBI injects ₹2.5 lakh crore to strengthen banking liquidity
• Date: February 14, 2025
• Location: India

Mandates and Objectives:

• Address liquidity shortages in the banking system.
• Ensure smooth credit flow to businesses and consumers.
• Stabilize financial markets impacted by forex interventions and fiscal outflows.
• Support economic growth by maintaining financial stability.

Reasons for Liquidity Injection:

• Foreign Exchange Market Interventions: RBI’s actions to stabilize the weakening rupee have reduced rupee liquidity.
• Fiscal Outflows: Government-related transactions, such as tax payments and public sector spending, have tightened liquidity conditions.
• Economic Growth Concerns: RBI aims to maintain credit availability for businesses and individuals.

How RBI is Conducting Liquidity Injection:

• Method Used: Variable Rate Repo (VRR) auctions.
• Frequency: Daily auctions on working days in Mumbai.
• Short-Term Reversals: Borrowed funds will be reversed the next working day.
• Market-Based Rates: Funds are injected at market-determined interest rates to prevent excess liquidity.

Impact on Monetary Policy & Future Actions:

• Repo Rate Cut: RBI recently reduced the repo rate by 25 basis points to 6.25%, the first cut since May 2020.
• Bond Purchases Increased: RBI doubled its bond-buying program to ₹40,000 crore.
• Liquidity Coverage Ratio (LCR) Implementation Deferred: The new deadline for LCR implementation is March 31, 2026.
• Future Measures Expected: If liquidity shortages persist, RBI may introduce Open Market Operations (OMO) or forex swaps.

Important Terms Explained:

• Variable Rate Repo (VRR) Auction:
  • A short-term liquidity management tool where banks borrow funds from RBI at market-driven interest rates.
  • Ensures efficient liquidity distribution based on actual market needs.
• Repo Rate:
  • The interest rate at which RBI lends money to commercial banks.
  • A lower repo rate makes borrowing cheaper, encouraging lending and economic growth.
• Open Market Operations (OMO):
  • RBI’s tool for buying or selling government bonds to regulate money supply and liquidity in the economy.
• Liquidity Coverage Ratio (LCR):
  • A regulatory requirement that ensures banks have enough liquid assets to cover short-term obligations.
  • RBI deferred its implementation to March 31, 2026, giving banks more flexibility.

Tabular Summary:

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4. From February 15, 2025, how will chargebacks in UPI transactions be processed?
A) Chargebacks will be manually reviewed by banks before processing.
B) They will be automatically accepted or rejected based on Transaction Credit Confirmation (TCC) and return requests (RET).
C) All chargeback requests will require direct approval from NPCI.
D) Chargebacks will no longer be allowed for disputed transactions.
E) Banks will have to process chargebacks within 48 hours of initiation.
Answer: B) They will be automatically accepted or rejected based on Transaction Credit Confirmation (TCC) and return requests (RET).

Event and Location:

• Event: NPCI introduces new UPI rule for automatic acceptance/rejection of chargebacks
• Date: Effective from February 15, 2025
• Location: India

Mandates and Objectives:

• Enhance efficiency in UPI dispute resolution and transaction reconciliation.
• Reduce penalties imposed by the Reserve Bank of India (RBI) due to processing delays.
• Ensure quicker dispute handling through automated acceptance/rejection based on transaction data.

Key Highlights of NPCI’s New UPI Chargeback Mechanism:

• Automatic chargeback resolution based on Transaction Credit Confirmation (TCC) and return requests (RET).
• Implementation Date: February 15, 2025.
• Applicable only for bulk transaction uploads and Unified Dispute Resolution Interface (UDIR).
• Does not impact individual front-end dispute resolution cases.
• Beneficiary banks now have time to reconcile transactions before a chargeback is automatically deemed accepted.

What is a Chargeback in UPI?

• A chargeback is a reversal of a completed UPI transaction due to disputes, fraud, or technical errors.
• It is initiated by the payer’s bank, and if approved, the payer receives a refund.
• Previously, chargebacks were sometimes automatically accepted due to processing delays, causing disputes.

Why Was This Change Introduced?

• Prevent automatic closure of chargebacks before beneficiary banks can process return requests.
• Reduce penalties on banks caused by unresolved disputes.
• Ensure smoother UPI transaction reconciliation and enhance dispute resolution efficiency.

Impact on UPI Member Banks:

• Banks must update their internal dispute resolution processes.
• Ensures timely reconciliation before chargebacks are automatically accepted.
• Reduces unnecessary financial penalties imposed by RBI.
• Improves user trust in UPI dispute resolution.

UPI Growth and Usage Statistics:

• December 2024 UPI transactions hit a record 16.73 billion (8% increase from November 2024).
• UPI continues to dominate digital payments in India with increasing transaction volumes.

Important Terms Explained:

• National Payments Corporation of India (NPCI):
  • Regulates UPI, RuPay, FASTag, and other payment systems in India.
  • Established by RBI and Indian Banks’ Association (IBA).
• Unified Payments Interface (UPI):
  • Real-time digital payment system allowing interbank transactions.
  • Developed by NPCI, enabling seamless fund transfers via mobile devices.
• Transaction Credit Confirmation (TCC):
  • Indicates successful crediting of funds to the beneficiary’s account.
  • Used to verify the legitimacy of transactions before processing chargebacks.
• Return Request (RET):
  • A request raised by the beneficiary bank to return a disputed transaction.
  • Previously, RETs were rejected if chargebacks were already initiated.

Tabular Summary:

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Business and Economy – Daily Current Affairs February 14

5. Which company recently received RBI authorization to operate as an online payment aggregator?
A) Paytm
B) PhonePe
C) Easebuzz
D) Mobikwik
E) BharatPe
Answer: C) Easebuzz

Event and Location:

• Event: Easebuzz receives RBI authorization to operate as an online payment aggregator
• Date: February 14, 2025
• Location: India

Mandates and Objectives:

• Authorization by RBI allows Easebuzz to function as a Payment Aggregator (PA).
• Facilitates secure and seamless digital transactions for businesses across India.
• Enhances Easebuzz’s credibility in India’s growing fintech sector.
• Enables collaboration with NBFCs and banks to provide credit services.
• Supports early settlements for merchants based on transaction volumes.

How the RBI License Strengthens Easebuzz’s Position:

• Joins major players like Razorpay, Google Pay, Cashfree, Zomato, MSwipe, CC Avenue, Innoviti Payments, Vegaah, and Concerto Software.
• Enables e-commerce transactions and merchant settlements.
• Strengthens Easebuzz’s role as a key fintech player in India’s digital payment ecosystem.

Easebuzz’s Market Reach and Growth Potential:

• Handles an annual Gross Transaction Value (GTV) of $30 billion.
• Serves over 200,000 businesses, including SMEs and startups.
• Revenue in FY24: ₹290 crore; Projected FY25: ₹600 crore+.
• RBI approval expected to boost trust and business expansion.

Easebuzz’s Expansion Beyond Payment Processing:

• In April 2024, launched a B2B invoice management and payments platform in collaboration with NPCI Bharat BillPay Ltd (NBBL).
• Aims to expand services beyond transaction processing.
• Strengthens position in India’s fast-growing digital payment sector.

Important Terms Explained:

• Payment Aggregator (PA):
  • A company authorized to process online payments on behalf of merchants.
  • Ensures secure transactions by integrating multiple payment options.
• Easebuzz:
  • A fintech company specializing in digital payment solutions.
  • Offers services like e-commerce payments, credit facilitation, and B2B invoice management.
• NPCI Bharat BillPay Ltd (NBBL):
  • A subsidiary of NPCI, facilitating bill payments across India.
  • Helps in streamlining digital transactions for businesses and consumers.

Tabular Summary:

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6. Which entity has received RBI approval to increase its stake in AU Small Finance Bank?
A) SoftBank Vision Fund
B) Zulia Investments
C) Blackstone Group
D) Sequoia Capital
E) GIC Private Limited
Answer: B) Zulia Investments

Event and Location:

• Event: RBI approves Zulia Investments’ stake hike in AU Small Finance Bank
• Date: February 14, 2025
• Location: India

Mandates and Objectives:

• Enhance foreign investment in AU Small Finance Bank.
• Strengthen AU Small Finance Bank’s market position and financial backing.
• Promote long-term stability and expansion in India’s financial sector.

Key Highlights of the Approval:

• Zulia Investments (Temasek Subsidiary) Approval:
  • Current Stake: 1.37% in AU Small Finance Bank.
  • Approved Increase: Can raise its stake up to 7%.
  • Timeframe: Must complete the acquisition within one year of RBI’s approval.
• AU Small Finance Bank’s Market Presence:
  • Largest Small Finance Bank (SFB) in India.
  • Credit services for MSMEs, retail customers, and deposit banking.
  • 2,400 banking touchpoints across 21 states and 4 Union Territories.
  • 49,000 employees nationwide.
• Financial Performance (Q3 FY 2024-25):
  • Deposit Base: ₹1.12 trillion.
  • Loan Portfolio: ₹1.08 trillion.
  • Overall Balance Sheet: ₹1.43 trillion.

AU Small Finance Bank’s Transition to a Universal Bank:

• Applied to RBI in September 2024 to convert into a universal bank.
• RBI Guidelines for Transition:
  • Minimum net worth of ₹1,000 crore.
  • At least five years of satisfactory performance as a scheduled bank.
  • Profitability record with:
    • Gross NPA (GNPA) < 3%
    • Net NPA (NNPA) < 1%
  • Compliance with capital adequacy norms and a detailed transition rationale.

Important Terms Explained:

• Small Finance Bank (SFB):
  • A bank focused on providing credit to underserved sectors, particularly MSMEs and low-income households.
  • Operates under RBI regulations with specific financial inclusion mandates.
• Universal Bank:
  • A bank with broader financial services, including retail banking, corporate lending, investment banking, and wealth management.
  • Requires RBI approval and must meet strict financial performance criteria.
• Zulia Investments & Temasek Holdings:
  • Zulia Investments is a wholly owned subsidiary of Temasek Holdings, a Singapore-based global investment firm.
  • Temasek has investments in financial services, technology, healthcare, and real estate worldwide.

Tabular Summary:

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Appointments – Daily Current Affairs February 14

7. Who recently became the first Hindu to lead the U.S. intelligence community as the Director of National Intelligence (DNI)?
A) Kamala Harris
B) Nikki Haley
C) Tulsi Gabbard
D) Pramila Jayapal
E) Vivek Ramaswamy
Answer: C) Tulsi Gabbard

Event and Location:

• Event: Tulsi Gabbard appointed as the Director of National Intelligence (DNI)
• Date: February 14, 2025
• Location: Washington, D.C., United States

Mandates and Objectives:

• Oversees 18 U.S. intelligence agencies, coordinating national security operations.
• Reports directly to the President of the United States.
• Acts as the principal advisor on intelligence matters.
• Manages threats related to terrorism, cyber security, foreign interventions, and espionage.

Key Highlights of Her Appointment:

• Confirmed as DNI with a 52-48 Senate vote.
• Appointed by President Donald Trump after the 2024 U.S. presidential elections.
• First Hindu and second woman to hold the DNI position.
• Met Indian PM Narendra Modi after taking office to reinforce India-U.S. relations.

Background and Political Journey:

• Born in American Samoa, raised in Hawaii and the Philippines.
• Mother converted to Hinduism, leading to a strong Hindu identity.
• Served in the U.S. National Guard with three war zone deployments.
• Elected as a Congresswoman from Hawaii (2013-2021) for four terms.
• Ran for U.S. President in 2020 as a Democrat and left the party in 2022, calling it “elitist.”

Controversies and Criticism:

• Pro-Assad Allegations: Criticized for her 2017 visit to Syria, where she met Syrian President Bashar al-Assad.
• Ukraine War Stance: Accused of echoing Russian propaganda regarding the war.
• NSA Whistleblower Edward Snowden: Previously praised Snowden, raising concerns about intelligence leaks.
• Opposed U.S. Surveillance Program (Section 702): A program used for tracking terrorist communications.
• Lack of Intelligence Experience: Critics argue she has no prior intelligence background.

Special Bond with India and PM Modi:

• Strong advocate for India’s fight against terrorism, especially post-Pulwama attack (2019).
• Criticized the U.S. ban on Modi’s visa in 2005, calling it a blunder.
• Supported Modi’s call for International Yoga Day (2014).
• Married in a Hindu wedding in Hawaii, attended by BJP leader Ram Madhav, with a special message from PM Modi.

Important Terms Explained:

• Director of National Intelligence (DNI):
  • The highest-ranking intelligence official in the U.S., overseeing 18 intelligence agencies including CIA, NSA, and FBI Intelligence Division.
  • Created after 9/11 (2001) to coordinate intelligence efforts across agencies.
• Section 702 Surveillance Program:
  • A U.S. law that allows intelligence agencies to monitor foreign terrorist communications overseas.
  • Gabbard has been critical of mass surveillance, arguing it violates civil liberties.
• India-U.S. Relations:
  • India and the U.S. share strong strategic and defense ties, particularly in counter-terrorism and cyber security.
  • Tulsi Gabbard has consistently supported U.S.-India cooperation on defense and trade.

Tabular Summary:

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8. Who was recently elected as the new Prime Minister of Vanuatu?
A) Ishmael Kalsakau
B) Stephen Felix
C) Jotham Napat
D) Charlot Salwai
E) John William Timakata
Answer: C) Jotham Napat

Event and Location:

• Event: Jotham Napat elected as the Prime Minister of Vanuatu
• Date: February 14, 2025
• Location: Vanuatu

Mandates and Objectives:

• Ensure stable governance through a coalition government.
• Strengthen political unity among various parties.
• Focus on national interests and development policies.

Key Highlights of the Election:

• Jotham Napat elected as Prime Minister:
  • Elected unopposed.
  • Nominated by Charlot Salwai, leader of the Reunification Movement for Change.
  • Ishmael Kalsakau, former PM, confirmed there were no other candidates.
  • Represents the Tanna Constituency in Parliament.
• Stephen Felix elected as Speaker of Parliament:
  • MP for Efate Rural Constituency.
  • Former judge and member of the Leaders Party.
  • Urged MPs to prioritize Vanuatu’s national interests.
• Four Deputy Speakers Elected Unopposed:
  • John William Timakata (Vanua’aku Party) – First Deputy Speaker
  • Macrellino Barthelemy (Independent) – Second Deputy Speaker
  • Paul Paolo (Graon Mo Jastis Party) – Third Deputy Speaker
  • Camillo Ati (Iauko Group) – Fourth Deputy Speaker

Formation of the Coalition Government:

• The government is a coalition of five political parties:
  • Leaders Party
  • Vanua’aku Party
  • Graon Mo Jastis Party
  • Reunification Movement for Change
  • Iauko Group
• The coalition aims to maintain stability and ensure effective governance under Prime Minister Jotham Napat.

Important Terms Explained:

• Reunification Movement for Change:
  • A political party in Vanuatu focused on political stability and governance reforms.
  • Led by Charlot Salwai, former Prime Minister.
• Vanua’aku Party:
  • One of Vanuatu’s oldest political parties, advocating for economic and political independence.
• Speaker of Parliament:
  • The presiding officer of Parliament, responsible for maintaining order and guiding legislative procedures.
• Deputy Speakers:
  • Assist the Speaker of Parliament in managing parliamentary affairs.

Tabular Summary:

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9. Who has been sworn in as Romania’s interim President following the resignation of Klaus Iohannis?
A) Marcel Ciolacu
B) Călin Georgescu
C) Ilie Bolojan
D) Florin Cîțu
E) Ludovic Orban
Answer: C) Ilie Bolojan

Event and Location:

• Event: Ilie Bolojan sworn in as Romania’s interim President
• Date: February 12, 2025
• Location: Romania

Mandates and Objectives:

• Ensure political stability during Romania’s transition period.
• Prepare the country for the upcoming presidential elections in May 2025.
• Reassure international partners about Romania’s political reliability.
• Address concerns over electoral integrity following the annulment of the December 2024 elections.

Why Did Klaus Iohannis Resign?

• Served as Romania’s President since 2014.
• Resigned on February 12, 2025, amid political pressure from far-right opposition parties.
• December 2024 presidential elections annulled due to allegations of Russian interference.
• Far-right candidate Călin Georgescu won the first round, creating political instability.
• Opposition parties planned a motion to suspend him, leading Iohannis to step down voluntarily.

Who Is Ilie Bolojan?

• Current President of the Senate (elected December 2024).
• Former Mayor of Oradea and President of Bihor County Council.
• A senior member of the National Liberal Party (PNL) since 1993.
• Experienced in governance and administration, tasked with ensuring stability until elections.

Upcoming Presidential Elections:

• First round on May 4, 2025.
• Runoff on May 18, 2025, if no candidate wins over 50%.
• Uncertainty over whether Călin Georgescu will run again.
• Bolojan will serve as interim President until elections conclude.

Important Terms Explained:

• National Liberal Party (PNL):
  • A center-right political party in Romania, focused on economic liberalism and European integration.
  • Ilie Bolojan has been a member since 1993.
• Semi-Presidential Republic:
  • Romania’s government system where the President shares power with the Prime Minister.
  • The President handles foreign affairs and defense, while the Prime Minister leads domestic policies.
• Election Annulment Due to Russian Interference:
  • The December 2024 elections were annulled due to alleged foreign involvement and electoral fraud.
  • This led to political instability and calls for Iohannis’ resignation.

Tabular Summary:

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10. Who has been elected as the new President of Greece in 2025?
A) Kyriakos Mitsotakis
B) Katerina Sakellaropoulou
C) Alexis Tsipras
D) Constantine Tassoulas
E) Yanis Varoufakis
Answer: D) Constantine Tassoulas

Event and Location:

• Event: Constantine Tassoulas elected as Greece’s new President
• Date: February 12, 2025
• Location: Greece

Mandates and Objectives:

• Ensure national unity in a politically divided Greece.
• Continue Greece’s cultural diplomacy, including efforts to reclaim the Parthenon sculptures.
• Support Prime Minister Kyriakos Mitsotakis’ government and maintain political stability.

Key Highlights of the Election:

• New President: Constantine Tassoulas elected with 160 votes in the 300-seat Greek Parliament.
• Predecessor: Katerina Sakellaropoulou, Greece’s first female president, whose term ends in March 2025.
• Political Party: New Democracy (center-right).
• Swearing-in Date: March 13, 2025.
• Largely Ceremonial Role: The Greek President primarily represents Greece on international platforms.

Who is Constantine Tassoulas?

• Born in 1959, Ioannina, Greece.
• Member of Parliament since 2000, affiliated with New Democracy Party.
• Held Key Positions:
  • Speaker of Parliament
  • Deputy Minister of National Defence
  • Minister of Culture and Sports
• Major Contribution: Advocated for the return of Parthenon sculptures from the British Museum.

Greece’s Political Future Under Tassoulas:

• His presidency is expected to focus on cultural diplomacy and historical heritage.
• The Parthenon sculptures dispute with the British Museum will remain a key issue.
• His leadership will be closely monitored due to past criticisms.

Important Terms Explained:

• Parthenon Sculptures (Elgin Marbles):
  • Ancient Greek marble statues taken by the British in the early 19th century.
  • Greece has been demanding their return from the British Museum.
• New Democracy Party:
  • Center-right political party in Greece, currently in power.
  • Led by Prime Minister Kyriakos Mitsotakis.
• Greek Presidential Role:
  • The President of Greece has a ceremonial role, unlike the Prime Minister, who holds executive power.

Tabular Summary:

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Science and Technology – Daily Current Affairs February 14

11. When is the Chandrayaan-4 mission scheduled for launch?
A) 2025
B) 2026
C) 2027
D) 2028
E) 2029
Answer: C) 2027

Event and Location:

• Event: Chandrayaan-4 mission to launch in 2027
• Date: Announced on February 6, 2025
• Location: India

Mandates and Objectives:

• Collect and return moon rock samples to Earth for scientific study.
• Demonstrate India’s capability in space exploration through sample-return technology.
• Enhance India’s global standing in planetary science.
• Boost investment and private sector involvement in India’s space economy.

Key Highlights of the Chandrayaan-4 Mission:

• Mission Objective: Retrieve moon rock samples and bring them back to Earth.
• Launch Year: 2027.
• Rocket Used: LVM-3 (heavylift rocket).
• Number of Launches: At least two separate launches.
• Mission Components: Five different spacecraft elements, assembled in orbit.

Other Major Indian Space Missions Announced:

1. Gaganyaan Mission (2026)
   • India’s first human spaceflight mission.
   • Will carry Indian astronauts to low Earth orbit and return safely.
   • First uncrewed test mission with the robot ‘Vyommitra’ in 2025.
2. Samudrayaan Mission (2026)
   • Deep-sea exploration mission.
   • Will send three scientists in a submersible to 6,000 meters below the ocean surface.
   • Aims to explore critical minerals, rare metals, and marine biodiversity.

India’s Expanding Space Infrastructure:

• Third Launch Pad under construction for heavier rockets.
• New Satellite Launch Site in Tamil Nadu’s Tuticorin for small satellites.
• India’s Space Economy Growth:
  • Current valuation: $8 billion.
  • Projected to reach: $44 billion by 2035.

Important Terms Explained:

• LVM-3 Rocket (Launch Vehicle Mark-3):
  • India’s heaviest operational rocket, used for deep space and human missions.
  • Previously used for Chandrayaan-2, Chandrayaan-3, and Gaganyaan missions.
• Vyommitra:
  • A humanoid robot developed by ISRO for the Gaganyaan uncrewed mission.
  • Will simulate human functions in space before sending actual astronauts.
• Samudrayaan:
  • India’s first deep-sea exploration mission.
  • Aims to unlock underwater resources and study marine biodiversity.

Tabular Summary:

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Defence – Daily Current Affairs February 14

12. Which companies have signed an MoU to manufacture the LWS-310 laser warning system in India?
A) Boeing & DRDO
B) Saab & Hindustan Aeronautics Limited (HAL)
C) Lockheed Martin & Bharat Dynamics Ltd
D) Dassault Aviation & Tata Advanced Systems
E) Raytheon & Larsen & Toubro
Answer: B) Saab & Hindustan Aeronautics Limited (HAL)

Event and Location:

• Event: Saab and HAL sign MoU to manufacture the LWS-310 laser warning system in India
• Date: February 13, 2025
• Location: India

Mandates and Objectives:

• Strengthen India’s defence sector by locally producing advanced electronic warfare systems.
• Enhance self-reliance in military technology under the ‘Make in India’ initiative.
• Enable HAL to manufacture and maintain the LWS-310 through Maintenance Transfer of Technology (ToT) from Saab.
• Improve India’s military capabilities by integrating laser threat detection systems into combat vehicles.

Key Highlights of the Saab-HAL Agreement:

• MoU Signed: Between Saab (Sweden) and Hindustan Aeronautics Limited (HAL) (India).
• Technology Transferred: Maintenance Transfer of Technology (ToT) for LWS-310.
• Purpose of LWS-310:
  • Detects laser-based threats in combat situations.
  • Provides early warnings against laser-guided weapons.
  • Enhances survivability of military vehicles.

Previous Saab-HAL Collaborations:

• 2017:
  • Saab Grintek Defence partnered with HAL for the Integrated Defensive Aids Suite (IDAS) system.
  • Contract value: ZAR 112 million (USD 8.5 million).
  • Developed maintenance infrastructure at HAL’s Hyderabad facility.
• 2013:
  • Saab received orders from HAL for an electronic warfare self-protection system for the Indian Army and Air Force.
  • Deal worth SEK 216 million (USD 33 million).

Importance of This Agreement for India’s Defence Self-Reliance:

• Strengthens local defence manufacturing and reduces dependence on foreign imports.
• Creates skilled jobs and technical expertise within India.
• Supports India’s goal of achieving self-sufficiency in advanced military technology.
• Aligns with India’s ‘Make in India’ initiative, promoting indigenous defence production.

Important Terms Explained:

• Electronic Warfare (EW):
  • Advanced military technology used to detect, jam, or evade enemy threats.
  • Includes radar warning receivers, jammers, and laser warning systems.
• Laser Warning System (LWS-310):
  • Designed to detect laser-guided threats in combat.
  • Provides early alerts, allowing military vehicles to take evasive actions.
• Make in India Initiative:
  • A government initiative launched in 2014 to boost domestic manufacturing.
  • Encourages foreign defence companies to invest in India’s defence sector.

Tabular Summary:

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International Affairs – Daily Current Affairs February 14

13. What was a key highlight of PM Narendra Modi’s 2025 visit to France?
A) Signing a defense treaty with Germany
B) Co-chairing the AI Action Summit with President Macron
C) Establishing a new trade agreement with the United States
D) Launching a space mission with Russia
E) Attending the G20 Summit in Canada
Answer: B) Co-chairing the AI Action Summit with President Macron

Event and Location:

• Event: PM Narendra Modi’s visit to France strengthens Indo-French relations
• Date: February 2025
• Location: France

Mandates and Objectives:

• Enhance Indo-French cooperation in artificial intelligence, nuclear energy, and trade.
• Strengthen diplomatic ties through high-level engagements.
• Foster economic and business collaborations between India and France.
• Promote technological and energy partnerships for sustainable growth.

Key Highlights of the Visit:

• AI Action Summit: PM Modi co-chaired the 3rd International AI Action Summit with President Emmanuel Macron.
  • Focused on ethical AI development, open-source innovation, and digital inclusivity.
  • Emphasized AI’s role in economic growth and bridging the digital divide.
• Indian Consulate in Marseille:
  • PM Modi and President Macron jointly inaugurated India’s first consulate in Marseille.
  • Aims to enhance trade, cultural, and educational exchanges.
• Mazargues War Cemetery Tribute:
  • PM Modi and President Macron paid homage to Indian soldiers who fought in the World Wars.
  • Highlighted historical Indo-French ties and the contributions of Indian soldiers.

India-France Nuclear and Energy Cooperation:

• Visit to ITER Fusion Project:
  • PM Modi visited the International Thermonuclear Experimental Reactor (ITER) in Cadarache.
  • India is a key partner in nuclear fusion research for clean energy development.
• Small Modular Reactors Agreement:
  • India and France signed a declaration on nuclear energy cooperation.
  • Focus on developing small modular reactors for sustainable power generation.

Economic and Business Impact:

• India-France CEOs Forum:
  • PM Modi and Macron participated in the 14th India-France CEOs Forum.
  • Discussed business collaborations in defense, civil nuclear energy, aerospace, and infrastructure.
  • Strengthened investment and trade opportunities between the two nations.

Important Terms Explained:

• AI Action Summit:
  • A global forum discussing artificial intelligence governance, ethics, and innovation.
  • Focuses on open-source AI development and ensuring equitable AI access.
• International Thermonuclear Experimental Reactor (ITER):
  • A global nuclear fusion project in Cadarache, France.
  • Aims to develop clean and sustainable energy.
  • India is one of the key contributing nations.
• Small Modular Reactors (SMRs):
  • A new type of compact nuclear reactor for efficient energy generation.
  • India-France agreement focuses on nuclear cooperation and innovation.

Tabular Summary:

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14. What is the bilateral trade target set by India and the US for 2030 during PM Modi’s visit?
A) $300 billion
B) $400 billion
C) $500 billion
D) $600 billion
E) $750 billion
Answer: C) $500 billion

Event and Location:

• Event: PM Modi’s visit to the United States strengthens Indo-US relations
• Date: February 14, 2025
• Location: Washington, D.C., USA

Mandates and Objectives:

• Strengthen trade ties with a goal of $500 billion in bilateral trade by 2030.
• Enhance defense cooperation through F-35 fighter jet sales and technology co-production.
• Boost energy security by increasing India’s purchase of US oil and gas.
• Improve counterterrorism efforts, including the extradition of 26/11 accused Tahawwur Hussain Rana.
• Align geopolitical strategies in the Indo-Pacific and on global security issues.

Key Highlights of the Visit:

• Bilateral Trade Expansion:
  • Target set to reach $500 billion in bilateral trade by 2030.
  • Focus on AI, semiconductors, and strategic minerals for long-term collaboration.
  • India to buy more US oil, gas, and military equipment to reduce the US trade deficit with India.
  • Tariff reduction talks aimed at balancing trade between both nations.
• Major Defense Agreements:
  • India to acquire F-35 stealth fighter jets, making it one of the few nations to operate them.
  • 10-year roadmap for defense collaboration, including co-production of military technologies.
  • Strategic defense cooperation to enhance India’s position in the Indo-Pacific region.
• Counterterrorism & Security Cooperation:
  • US supports India’s request for the extradition of 26/11 accused Tahawwur Hussain Rana.
  • Enhanced intelligence-sharing and cooperation on illegal immigration issues.
  • US reaffirmed its support for India’s sovereignty in countering regional security threats.
• Geopolitical Alignment:
  • Discussions on China’s influence in the Indo-Pacific.
  • Talks on Russia-Ukraine conflict and broader global security concerns.
  • Strengthening India’s role as a global strategic partner.

Important Terms Explained:

• F-35 Stealth Fighter Jet:
  • Fifth-generation multirole stealth fighter developed by the United States.
  • Enhances India’s aerial combat capabilities and strategic deterrence.
• Indo-Pacific Strategy:
  • A US-led initiative to counter China’s growing influence in the region.
  • India plays a key role in regional security and maritime cooperation.
• 26/11 Mumbai Attacks & Extradition Case:
  • 2008 terrorist attack in Mumbai, masterminded by Hafiz Saeed.
  • Tahawwur Hussain Rana, a Pakistani-origin businessman, is wanted by India for involvement.
  • US agreed to assist in his extradition to India for prosecution.

Tabular Summary:

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National Affairs – Daily Current Affairs February 14

15. Which country is hosting the IIAS-DARPG India Conference 2025 for the first time?
A) United States
B) France
C) India
D) Canada
E) Germany
Answer: C) India

Event and Location:

• Event: India hosts the IIAS-DARPG India Conference 2025 for the first time
• Date: February 10-14, 2025
• Location: New Delhi, India

Mandates and Objectives:

• Explore next-generation administrative reforms to improve governance.
• Discuss governance innovations and policy improvements.
• Examine the role of technology in shaping public administration.
• Promote international cooperation in governance and policymaking.
• Address public administration and service reforms on a global scale.

Key Highlights of the IIAS-DARPG India Conference 2025:

• Organizers: Jointly hosted by the International Institute of Administrative Sciences (IIAS) and the Department of Administrative Reforms and Public Grievances (DARPG), Government of India.
• Theme: “Next Generation Administrative Reforms – Empowering Citizens and Reaching the Last Mile.”
• Venue: New Delhi, India.
• Inauguration: Dr. Jitendra Singh, Union Minister of State (Independent Charge) for PMO, Personnel, Public Grievances, and Pensions, inaugurated the event on February 11, 2025.
• Participants: Experts from over 55 countries.
• Annual General Assembly of IIAS: Being conducted as part of the conference.

Key Dignitaries Present:

• Ra’ed Mohammed BenShams, President of IIAS.
• V. Srinivas, Secretary, DARPG.

Important Terms Explained:

• International Institute of Administrative Sciences (IIAS):
  • Founded: 1930
  • Headquarters: Brussels, Belgium
  • President: Ra’ed Mohammed BenShams
  • Members: Ministries, government schools, national associations, and research centers worldwide
• Department of Administrative Reforms and Public Grievances (DARPG):
  • Functions under: Union Ministry of Personnel, Public Grievances, and Pensions
  • Primary Role: Nodal agency for administrative reforms in India
  • Handles: Public grievances related to central government agencies
  • Focus: International cooperation in governance and public service reforms

Tabular Summary:

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16. When was the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) launched?
A) January 26, 2023
B) February 13, 2024
C) March 15, 2022
D) April 5, 2023
E) May 10, 2024
Answer: B) February 13, 2024

Event and Location:

• Event: One-year anniversary of PM Surya Ghar: Muft Bijli Yojana (PMSGMBY)
• Date: February 13, 2025
• Location: India

Mandates and Objectives:

• Encourage solar energy adoption in Indian households.
• Reduce electricity costs through subsidized rooftop solar installations.
• Promote sustainability and renewable energy growth.
• Increase India’s solar capacity by adding 30 GW of rooftop solar power by 2027.
• Create employment opportunities in solar energy manufacturing and installation.

Key Highlights of the Scheme:

• Largest Domestic Rooftop Solar Initiative: Aims to benefit 1 crore households by March 2027.
• Current Progress: Over 8.46 lakh households have installed solar panels as of January 27, 2025.
• Installation Growth: Monthly solar panel installations surged tenfold to 70,000 per month.
• Government Financial Assistance: ₹4,308.66 crore disbursed in Central Financial Assistance (CFA).
• Subsidy Benefit: Up to 40% subsidy, with an average subsidy of ₹77,800 per household.
• Zero Electricity Bills: 45% of beneficiaries now receive zero electricity bills, depending on usage.

Key Benefits of the Scheme:

• Household Savings: Families save on electricity bills.
• Government Savings: The scheme saves ₹75,000 crore annually in electricity costs.
• Renewable Energy Expansion: Promotes solar energy adoption at the household level.
• Environmental Impact: Reduces carbon emissions and dependency on fossil fuels.

Subsidy Structure:

Application Process:

• Households apply via the National Portal to avail subsidies.
• Collateral-Free Loans: Available at 7% interest for systems up to 3 kW.
• Processing Time: CFA is disbursed within 15 days after a consumer redemption request.

Impact of the Scheme:

• Household Savings & Income: Families can sell excess power to DISCOMs, generating income.
• Solar Capacity Expansion: The scheme will add 30 GW of rooftop solar capacity by 2027.
• Environmental Impact:
  • 1,000 BUs of electricity generated over 25 years.
  • 720 million tonnes of CO₂ emissions reduced.
• Employment Boost: 17 lakh new jobs created in installation, manufacturing, and maintenance.

Model Solar Village Initiative:

• Goal: Establish one Model Solar Village per district to promote energy self-reliance.
• Budget: ₹800 crore allocated; each village receives ₹1 crore.
• Selection Criteria: Revenue villages with >5,000 population (or >2,000 in special category states).

Important Terms Explained:

• PM Surya Ghar: Muft Bijli Yojana (PMSGMBY):
  • A government scheme launched on February 13, 2024, to promote rooftop solar energy in India.
  • Aims to install solar panels in 1 crore households by March 2027.
  • Provides up to 40% subsidy on solar installations.
• Central Financial Assistance (CFA):
  • Government-provided financial support to reduce the cost burden on households installing solar panels.
  • The average subsidy per household is ₹77,800.
• Solar Capacity Expansion:
  • The scheme will add 30 GW of rooftop solar power by 2027, increasing India’s renewable energy share.

Tabular Summary:

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17. What is the new name of Foy Sagar Lake after its renaming by the Rajasthan government?
A) Surya Sagar
B) Maharishi Sagar
C) Varun Sagar
D) Saraswati Sagar
E) Bharat Sagar
Answer: C) Varun Sagar

Event and Location:

• Event: Historic renaming of Foy Sagar Lake and King Edward Memorial Bhawan in Ajmer
• Date: February 14, 2025
• Location: Ajmer, Rajasthan

Mandates and Objectives:

• Erasing colonial symbols and promoting Indian heritage.
• Honoring Maharishi Dayanand Saraswati and Hindu traditions.
• Restoring cultural pride in Rajasthan’s historical sites.

Key Highlights of the Renaming:

• Foy Sagar Lake → Varun Sagar:
  • Originally named after British engineer Mr. Foy.
  • Built in 1892 as a famine relief project during British rule.
  • Renamed after Lord Varun, the Hindu god of water.
  • A statue of Lord Varun and a ghat will be built for prayers.
  • The lake is worshipped by the Sindhi community.
• King Edward Memorial Bhawan → Maharishi Dayanand Vishrant Grih:
  • Named after King Edward VII during British rule.
  • Located on Railway Station Road, Ajmer.
  • Renamed after Maharishi Dayanand Saraswati, the founder of Arya Samaj.
  • Maharishi Dayanand attained nirvana in Ajmer.
  • Symbolic of replacing colonial names with Indian cultural inspirations.
• Official Process & Justification:
  • The renaming was completed by the Ajmer Municipal Corporation.
  • Rajasthan Assembly Speaker Vasudev Devnani announced the changes.
  • The move eliminates colonial imprints and promotes cultural pride.

Important Terms Explained:

• Lord Varun:
  • Hindu god of water and guardian of oceans, rivers, and rainfall.
• Maharishi Dayanand Saraswati:
  • Founder of Arya Samaj (1875), a reformer who promoted Vedic teachings.
  • Known for opposing British rule and advocating social reforms.
  • Attained nirvana in Ajmer, making the renaming significant.
• Arya Samaj:
  • A Hindu reform movement focused on Vedic teachings, education, and nationalism.

Tabular Summary:

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18. How much interest-free loan has the Centre released to states under the Special Assistance for Capital Expenditure Scheme till January 2025?
A) ₹95,000 crore
B) ₹1.11 lakh crore
C) ₹1.50 lakh crore
D) ₹1.22 lakh crore
E) ₹1.10 lakh crore
Answer: B) ₹1.11 lakh crore

Event and Location:

• Event: Centre releases ₹1.11 lakh crore as interest-free loan to states for capital expenditure
• Date: April 2024 – January 2025
• Location: India

Mandates and Objectives:

• Boost state infrastructure development through interest-free loans.
• Encourage capital expenditure in priority areas such as tourism, industrial growth, and vehicle scrappage policy.
• Provide financial support to states for economic growth and fiscal stability.

Key Highlights of the Special Assistance Scheme for Capital Expenditure:

• Total loan allocation for FY25: ₹1.50 lakh crore (up from ₹1.10 lakh crore in FY24).
• Total loan approved till January 31, 2025: ₹1.22 lakh crore.
• Total loan released so far: ₹1.11 lakh crore.
• Scheme divided into two parts:
  • Part-I (₹55,000 crore): Untied funds allocated based on states’ share of central taxes (as per the 15th Finance Commission).
  • Part-II (₹95,000 crore): Tied funds allocated for sector-specific projects and reforms.

Top Beneficiary States in FY24:

Key Areas of Fund Utilization:

• Development of iconic tourist centres.
• Incentives for scrapping old vehicles.
• Boosting industrial growth and infrastructure projects.

Important Terms Explained:

• Special Assistance for Capital Expenditure Scheme:
  • A Central Government initiative providing interest-free loans to states for infrastructure and reforms.
  • Helps states fund key projects without increasing their debt burden.
• 15th Finance Commission:
  • A constitutional body responsible for allocating financial resources between the Centre and states.
  • Determines tax-sharing percentages and grants for state governments.
• Capital Expenditure (CapEx):
  • Government spending on long-term assets, such as roads, railways, buildings, and power projects.
  • Promotes economic growth and job creation.

Tabular Summary:

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Over All Review

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