Daily & Latest Current Affairs in 2025

Correct Answer :   $5 Trillion

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India’s market capitalization has surged to $5 trillion, marking a historic achievement. This remarkable feat was accomplished in under six months since surpassing the $4 trillion mark, showcasing the nation’s robust economic resilience and investor confidence.

Exclusive Club Membership :

Joining the elite league of countries with a $5 trillion market cap, India stands alongside stalwarts like the US, China, Japan, and Hong Kong. However, on a closing basis, India’s market cap currently stands at $4.97 trillion on the BSE and $4.93 trillion on the NSE.

Driving Forces Behind the Surge :

India’s market cap witnessed a staggering surge of over 60% from its lows in March 2023, propelled by a rally in shares of small- and mid-sized firms. This uptick is attributed to a re-rating of valuations, fueled by improved economic and earnings growth prospects, surpassing global and emerging market peers.

Market Dynamics and Influencers :

The growth trajectory of India’s market cap is further fueled by the emergence of mega newly listed companies, such as the Life Insurance Corporation (LIC), contributing significantly to the nation’s market value. Additionally, the increase in market value of the public sector undertaking (PSU) pack has bolstered India’s standing, with the nation now boasting 100 stocks with an m-cap above $10 billion.

Global Impact and Investor Sentiment :

India’s burgeoning market value has amplified its global influence, attracting higher inflows from foreign investors, notably through exchange-traded funds (ETFs). With India now ranking as the second-largest market in the MSCI Emerging Markets Index, after China, investor sentiment remains buoyant, with over $8 billion flowing into domestic stocks in the first quarter of 2024.

Forward Outlook and Expectations :

As the markets reflect the robust fundamentals of the nation, stakeholders emphasize the importance of future reforms post-election results. The outlook remains optimistic, contingent upon forthcoming Budget announcements, particularly regarding taxation and policy measures, shaping the near-term trajectory of India’s market landscape.

Correct Answer :   Spain

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Spain has officially become the 99th member of the International Solar Alliance (ISA). The Instrument of Ratification was handed over by Spain’s Ambassador to India, José María Ridao Domínguez, to Abhishek Singh, Joint Secretary in the Ministry of External Affairs (MEA), during a meeting in New Delhi. MEA spokesperson Randhir Jaiswal confirmed the development in a post on X.

ISA’s Objectives and Formation :

The ISA, launched by India and France during COP21 in Paris, aims to implement the Paris Climate Agreement through extensive deployment of solar energy. It serves as a collaborative platform for member countries to increase the use of solar energy technologies, enhance energy access, ensure energy security, and drive the global energy transition.

Membership and Recent Additions :

As of now, 116 countries are signatories to the ISA Framework Agreement, with 94 having completed the ratification process. Spain’s inclusion follows Panama, which ratified the agreement in March, becoming the 97th member.

Recent ISA Assembly :

The Sixth Assembly of the ISA was held in New Delhi from October 30 to November 2, 2023, marking another significant event in the organization’s ongoing efforts to promote solar energy globally.

Correct Answer :   Rushabh Gandhi

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The board of IndiaFirst Life Insurance has approved the promotion of Rushabh Gandhi, the current Deputy Chief Executive Officer, to the position of Managing Director and Chief Executive Officer (MD and CEO). Gandhi’s appointment marks a significant milestone for the company, aligning with its succession strategy.

Succession Plan and Regulatory Approvals :

Gandhi will assume his new role on July 1, 2024, or upon receiving the necessary regulatory approvals, whichever is later. His appointment is subject to the approval of the Insurance Regulatory and Development Authority of India (IRDAI), the company’s shareholders, and other statutory clearances. Gandhi will succeed R.M. Vishakha, the outgoing Managing Director and CEO, who will retire on June 30, 2024.

A Seasoned Professional with Strategic Vision :

IndiaFirst Life Insurance has expressed confidence in Gandhi’s ability to lead the company into a new chapter. With over 29 years of experience in both Indian and international markets, Gandhi has been a driving force behind the company’s growth and profitability. His strategic vision aligns with IndiaFirst Life’s core values and beliefs.

Academic and Professional Credentials :

Gandhi’s impressive credentials include a degree from the Narsee Monjee Institute of Management Studies (NMIMS) and an executive education from INSEAD in Fontainebleau, France. He has worked closely with R.M. Vishakha since 2015, gaining valuable insights and experience in the insurance industry.

Continuity and Growth :

Gandhi’s promotion from within the organization ensures a smooth transition and continuity of leadership. His extensive experience and deep understanding of IndiaFirst Life’s operations position him well to navigate the company through its next phase of growth and development.

Industry Recognition and Regulatory Oversight :

The appointment of Rushabh Gandhi as the MD and CEO of IndiaFirst Life Insurance is subject to the scrutiny and approval of the insurance industry regulator, IRDAI. This regulatory oversight ensures that the leadership transition aligns with industry standards and best practices, safeguarding the interests of policyholders and stakeholders.

As IndiaFirst Life Insurance embarks on this new journey under Gandhi’s leadership, the company remains committed to delivering innovative products and services that cater to the evolving needs of its customers, while maintaining a strong focus on profitability and sustainable growth.

Correct Answer :   IIT Jodhpur

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Air pollution remains a critical global challenge, with severe health implications for millions of people worldwide. In a significant step towards addressing this issue, researcher from Indian Institute of Technology (IIT) Jodhpur has published ground-breaking research in Nature Communications journal, shedding light on the sources and composition of particulate matter (PM) in Northern India that are harmful to human health.

* Contrary to the common belief that reducing overall PM mass would alleviate health impacts, this comprehensive study highlights the importance of addressing local inefficient combustion processes - such as biomass and fossil fuel burning, including traffic exhaust in effectively reducing PM-related health exposure and their associated impacts in Northern India - says Dr. Deepika Bhattu, Associate Professor and lead author of the article.

* The study addresses three critical scientific questions crucial for consideration of Indian Policymakers in devising data-driven, effective mitigation strategies under the ongoing National Clean Air Programme (NCAP).

* 1. Fine PM (PM2.5) source identification and their absolute contribution, with unprecedented clarity between their local and regional geographical origin.

* 2.  A comprehensive and unequivocal distinction between directly emitted PM and those formed in the atmosphere. This is the first time such a distinction is clearly made over a large spatial and temporal scale.

* 3. Determination of the harmfulness of PM by correlating its oxidative potential with local and regional sources within the study region.

* Leveraging the power of advanced aerosol mass spectrometry techniques and data analytics, the study was conducted  at five Indo-Gangetic Plain sites, both within and outside Delhi and found that although uniformly high PM concentrations are present across the region, the chemical composition varies considerably as the local emission sources and formation processes dominate the PM pollution. Within Delhi, ammonium chloride, and organic aerosols originating directly from traffic exhaust, residential heating, and the oxidation products of fossil fuels emissions produced in the atmosphere dominate PM pollution.

* In contrast, outside Delhi, ammonium sulphate and ammonium nitrate, as well as secondary organic aerosols from biomass burning vapors, are the dominant contributors. However, regardless of location, the study highlighted that organic aerosols from incomplete combustion of biomass and fossil fuels, including traffic emissions, are the key contributors to the PM oxidative potential, which drives PM-associated health effects in this region.

* Comparing the oxidative potential of Indian PM2.5 with countries across the Asia-Pacific and European regions reveals alarming findings. Indian PM's oxidative potential surpasses that of Chinese and European cities by up to fivefold, marking it as one of the highest observed globally.

* Addressing India's air pollution crisis requires collaboration among local communities and stakeholders as well as societal changes especially in densely populated urban areas like Delhi, Dr. Deepika Bhattu emphasizes. Moving forward, concerted sustainable efforts are needed that promote cleaner energy sources, improve combustion efficiency and reduce emissions from transportation mainly from outdated, overloaded and inefficient vehicles fleet and remove unauthorized jugaad vehicles.

* Our study provides valuable insights for evidence-based policies and interventions aimed at safeguarding public health and the environment for future generations. Prioritizing mitigation strategies based on the most significant health impacts, particularly targeting local inefficient combustion processes, is essential in Northern India..

Source : PIB

Correct Answer :   Norway, Ireland and Spain

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Norway, Ireland and Spain recently granted statehood status to Palestine in a historic move.

In protest against this decision, Israel has ordered the recall of its ambassadors from Norway and Ireland.

Norwegian Prime Minister Jonas Gahr Støre said in his decision that it will be officially announced from May 28, 2024. 

Correct Answer :   Etah

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Uttar Pradesh, known for its rich culture and diversity, is home to cities steeped in history and heritage. Etah district in the state has its unique identity, drawing numerous domestic and international tourists every year. Among these districts, one stands out for a unique reason – it is known as the “Ghungroo City.” Let’s delve into the story behind this intriguing title.

An Overview of Uttar Pradesh :

Uttar Pradesh is a state of vibrant culture and unique traditions. Its rich history sets it apart from other states. The state’s cultural heritage, historical sites, religious and social edifices, local cuisine, and a sense of belonging contribute to its special status. These elements attract countless tourists each year, who come to experience the state’s offerings firsthand.

Districts of Uttar Pradesh :

Uttar Pradesh covers a total area of 240,928 square kilometers, making up 7.33% of India’s total area. It is the state with the highest number of districts, totaling 75, divided into 18 divisions. As of the 2011 census, Uttar Pradesh had a population of 199,812,341, accounting for approximately 16.5% of India’s population. The largest district is Lakhimpur Kheri, spanning 7,680 square kilometers, while Hapur is the smallest district.

Which District of Uttar Pradesh is Known as “Ghungroo City”?

Jalesar, located in the Etah district of Uttar Pradesh, is famously known as the “Ghungroo City.” This title is attributed to Jalesar due to its renowned production of traditional bells, locally known as ghungroos. The craftsmanship involved in making these bells has earned Jalesar widespread recognition, and its ghungroos are sought after not only in Uttar Pradesh but also across various states in India.

Why is Jalesar Known as the “Ghungroo City”?

The reason behind Jalesar’s designation as the “Ghungroo City” lies in its primary industry: the production of ghungroos. These bells are crafted from a mixture of clay, powder, and brass. The craftsmanship involved in making these bells has earned Jalesar a special place in various states across India.

One District, One Product Initiative :

The Uttar Pradesh government has recognized the unique products of each district under the “One District, One Product” (ODOP) initiative. Jalesar’s ghungroos have been included in this program, providing the district with a distinctive identity. This initiative has not only boosted local craftsmanship but also increased the demand for Jalesar’s ghungroos in different parts of the country.

Correct Answer :   May 22

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The International Day for Biological Diversity is celebrated every year on May 22. This year, it falls on a Wednesday. The theme for 2024 is “Be Part of the Plan.”

This theme encourages governments, indigenous peoples and local communities, non-governmental organizations, lawmakers, businesses, and individuals to showcase their efforts in supporting the implementation of the Biodiversity Plan.

History of International Day for Biodiversity :

The International Day for Biological Diversity was established by the Second Committee of the UN General Assembly in 1993. Originally, it was celebrated on December 29 to mark the day the Convention on Biological Diversity came into effect. However, on December 20, 2000, the date was changed to May 22. This change was made to commemorate the adoption of the Convention at the Rio de Janeiro Earth Summit in 1992 and to avoid the many holidays in late December.

Significance of International Day for Biodiversity :

The International Day for Biological Diversity is closely aligned with the UN Post-2015 Development Agenda and the Sustainable Development Goals (SDGs). These goals address a wide range of global issues, emphasizing the critical role that biodiversity plays in sustaining life on Earth. Biodiversity significantly impacts:

* Oceans and Seas
* Forests
* Food Security
* Health
* Sustainable Development
* Science, Technology, and Innovation
* Knowledge-Sharing and Capacity-Building
* Urban Resilience
* Sustainable Transportation
* Desertification, Land Degradation, and Drought
* Water and Sanitation

The importance of biodiversity in sustainable development was highlighted in the Rio+20 outcome document, “The World We Want: A Future for All.” This year’s celebration aims to build momentum leading up to the sixteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16), scheduled to be held in Colombia from October 21 to November 1, 2024.

Correct Answer :   Georgia

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Georgia, famously known as the “Peach State,” is celebrated for its exceptional quality of peaches. This reputation is deeply ingrained in the state’s identity and history, making Georgia synonymous with this delicious fruit.

The Origin of the “Peach State” Nickname :

Georgia’s nickname, the “Peach State,” stems from its growers’ longstanding reputation for producing high-quality peaches. The warm climate and fertile soil of Georgia provide ideal conditions for cultivating this fruit, which has become a symbol of the state’s agricultural success and cultural heritage.

Official Abbreviations: GA and Ga :

In addition to its famous nickname, Georgia is identified by the abbreviations GA and Ga. The two-letter or postal abbreviation, GA, is commonly used in mailing addresses and official documents, while the traditional or standard abbreviation, Ga., is often seen in more formal contexts. Both abbreviations are widely recognized and used to represent the state.

The Peach Becomes Official :

The peach was designated as the official state fruit of Georgia in 1995, a testament to its significance in the state’s agricultural and cultural heritage. This official recognition underscores the importance of peaches to Georgia’s economy and identity, celebrating the fruit that has brought the state national acclaim.

Georgia’s Peach Legacy :

The legacy of Georgia’s peaches extends beyond the fruit itself. It represents the dedication and skill of the state’s growers who have perfected the art of peach farming over generations. Festivals, markets, and roadside stands throughout Georgia showcase the state’s peach bounty, attracting visitors and reinforcing the state’s nickname.

Correct Answer :   Rs 10,300 Crore

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The Cabinet has greenlit an ambitious financial allocation of over Rs 10,300 crore for the IndiaAI Mission, aimed at fortifying India’s AI innovation ecosystem. Spearheaded by a public-private partnership model, this significant investment over the next five years is poised to catalyze various strategic initiatives, including compute infrastructure expansion, startup empowerment, and ethical AI deployment.

Bolstering Compute Infrastructure: IndiaAI Compute Capacity :

A pivotal component of the IndiaAI Mission, the IndiaAI Compute Capacity project aims to erect a cutting-edge, scalable AI computing infrastructure. With over 10,000 GPUs slated for deployment through strategic collaborations, this initiative sets the stage for advanced AI research and development.

Empowering AI Startups: IndiaAI Startup Financing :

The financial outlay includes provisions to bolster the IndiaAI Startup Financing mechanism, facilitating streamlined access to funding for burgeoning AI startups. By supporting product development and commercialization endeavors, this initiative seeks to catalyze innovation and entrepreneurship in the AI sector.

Fostering Innovation: IndiaAI Innovation Centre (IAIC) :

The IndiaAI Innovation Centre (IAIC), envisioned as a leading academic institution, will spearhead research talent retention and development. With a focus on indigenous model creation and leveraging edge computing, IAIC aims to drive innovation and foster technological self-reliance.

Enhancing Data Accessibility: IndiaAI Datasets Platform :

The IndiaAI Datasets Platform, to be developed by the Independent Business Division (IBD) of IndiaAI, receives a boost to enhance accessibility, quality, and utility of public sector datasets. This initiative is crucial for driving data-driven governance and fueling AI-based innovation and research.

Expanding AI Education: IndiaAI FutureSkills :

The IndiaAI FutureSkills program aims to expand AI education by increasing accessibility to graduate and post-graduate AI programs. By establishing Data and AI Labs across major cities and smaller towns, this initiative seeks to impart foundational-level courses in Data and AI, democratizing AI education.

Aligned with the broader vision of the IndiaAI Mission, these initiatives are poised to propel India’s global leadership in AI, ensure ethical AI deployment, and democratize the benefits of AI across all segments of society.

Correct Answer :   Indonesia

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Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX’s satellite internet service for the nation’s health sector on Sunday (19th May 2024), aiming to improve access in remote parts of the sprawling archipelago.

* Musk, the billionaire head of SpaceX and Tesla (TSLA), arrived on the Indonesian resort island of Bali by private jet before attending the launch ceremony at a community health center in the provincial capital, Denpasar.

* Musk, wearing a green batik shirt, said the availability of the Starlink service in Indonesia would help millions in far-flung parts of the country to access the internet. The country is home to more than 270 million people and three different time zones.

* “I’m very excited to bring connectivity to places that have low connectivity,” Musk said, “If you have access to the internet you can learn anything.”

* Starlink was launched at three Indonesian health centers on Sunday, including two in Bali and one on the remote island of Aru in Maluku.

* A video presentation screened at the launch showed how high internet speeds enabled the real-time input of data to better tackle health challenges such as stunting and malnutrition.

* Asked about whether he planned to also invest in Indonesia’s electric vehicle industry, Musk said he was focused on Starlink first.

* “We are focusing this event on Starlink and the benefits that connectivity brings to remote islands,” he said, “I think it’s really to emphasize the importance of internet connectivity, how much of that can be a lifesaver.”

* Indonesia’s government has been trying for years to lure Musk’s auto firm Tesla to build manufacturing plants related to electric vehicles as the government wants to develop its EV sector using the country’s rich nickel resources.

* The tech tycoon is scheduled to meet Indonesian President Joko Widodo on Monday, where he will also address the World Water Forum taking place on the island.

* Communications Minister Budi Arie Setiadi, who also attended the Bali launch, said Starlink was now available commercially, but the government would focus its services first for outer and underdeveloped regions.

* Prior to Sunday’s launch, Starlink obtained a permit to operate as an internet service provider for retail consumers and had been given the go-ahead to provide networks, having received a very small aperture terminal (VSAT) permit, Budi Setiadi told Reuters.

* SpaceX’s Starlink, which owns around 60% of the roughly 7,500 satellites orbiting earth, is dominant in the satellite internet sphere.

* Indonesia is the third country in Southeast Asia where Starlink will operate. Malaysia issued the firm a license to provide internet services last year, and a Philippine-based firm signed a deal with SpaceX in 2022.

* Starlink is also used extensively in Ukraine, where it is employed by the military, hospitals, businesses and aid organizations..

Source : Edition