Daily Current Affairs for UPSC IAS: 15th February 2025

Tobin Tax:

U.S. President Donald Trump’s administration is considering imposing a Tobin Tax on capital flows, a move that could disrupt global financial markets.

• The Tobin Tax is a tax on foreign exchange transactions aimed at discouraging short-term speculative trading.
• It is a small levy (0.1%-0.5%) on currency conversions to reduce volatility in financial markets.
• Proposed in 1972 by James Tobin, a Nobel Prize-winning economist, in response to currency market fluctuations after the collapse of the Bretton Woods system.
• Aimed at “throwing sand in the wheels” of currency speculation to stabilize exchange rates.
• Applied on currency transactions to deter short-term speculation.
• Low tax rate to prevent market disruption.
• Revenue generated can be used for public welfare or development projects

Einstein Ring:

The European Space Agency’s Euclid space telescope has discovered a rare ring of light, known as an Einstein ring, around a galaxy nearly 590 million light-years away from Earth.

• Einstein Ring is a rare ring of light around a form of dark matter, galaxy or cluster of galaxies.
• It is essentially an example of gravitational lensing.
• Einstein rings are not visible to the naked eye, and can be observed only through space telescopes such as Euclid.
• In the case of the recently discovered Einstein ring, NGC 6505 was the gravitational lens.
• The nearer galaxy distorted and amplified the light coming from a distant unnamed galaxy, located 4.42 billion light-years away.
• The first Einstein ring was discovered in 1987, and since then, several more have been discovered.
• These rings help scientists investigate dark matter, which has never been detected but is believed to make up 85% of the total matter in the universe.
• They enable scientists to learn about distant galaxies, which otherwise might not be visible.
• They can also provide information about the expansion of the universe as the space between the Earth and other galaxies both in the foreground and the backgroun
• Gravitational lensing is a phenomenon which occurs when a massive celestial body  such as a galaxy or cluster of galaxies  creates a gravitational field which distorts and amplifies the light from distant galaxies that are behind it but in the same line of sight.
• The body causing the light to curve is called a gravitational lens.

MITRA Platform:

The Securities and Exchange Board of India introduced a new digital platform called MITRA.

• Mutual Fund Investment Tracing and Retrieval Assistant (MITRA) will assist investors in tracking and reclaiming inactive or unclaimed mutual fund folios.
• The platform addresses a growing concern wherein investors, over time, lose track of their mutual fund investments lack of updated contact information, or unawareness of investments made in their name.
• It will allow investors to identify the overlooked investments or any investments made by any other person for which he/she may be rightful legal claimant and also encourage them to do KYC as per the current norms thus reducing the number of non-KYC compliant folios.
• It is developed by the Registrar and Transfer Agent (RTAs) to provide investors with a searchable database of inactive and unclaimed mutual fund folios at an industry-level which will empower the investors.
• The criteria for classifying a folio as inactive include an absence of investor-initiated transactions, financial or non-financial, for a period of ten years, despite having a unit balance.
• SEBI has also revised the mandate of the Unit Holder Protection Committee (UHPC) under Mutual Funds rules.
• The UHPC will now be responsible for reviewing inactive folios along with unclaimed dividends and redemptions, ensuring proactive steps are taken to reduce such cases.

Dokra artwork:

The Prime Minister of India presented French President Emmanuel Macron with a meticulously crafted Dokra artwork.

• Dokra art which is also known as bell metal craft traces its origins back more than 4,000 years.
• It is a form of folk art practiced by the Dhokra Damar tribes, who are traditionally metalsmiths.
• These artisans are primarily found in eastern India, including West Bengal, Odisha, and Jharkhand, with a notable presence in Chhattisgarh as well.
• No two pieces are ever the same.
• Each sculpture is painstakingly handcrafted, drawing inspiration from mythology, nature, and daily rituals.
• The method of making Dokra is done by combining the metallurgical skills with that of the lost wax technique.
• Artisans begin by sculpting a basic clay model of the desired object.
• This model is then coated in wax, where fine details are meticulously etched. Another clay layer is added to form a mold, into which molten metal typically brass or copper is poured.
• The heat melts the beeswax, allowing the liquid metal to take the shape of the original model. Once cooled and hardened, the outer clay mold is broken away, revealing the finished sculpture.

Fulani Community:

A new study has found that the Fulani, one of Africa’s largest pastoral populations, have a history going back to the ‘Green Sahara’ period (12,000–5,000 years before the present).

• The Fulani are a large and widely dispersed group of both nomadic herders and sedentary farmers living in the African Sahel/Savannah belt.
  They are concentrated principally in Nigeria, Mali, Guinea, Senegal, and Nigerbut can also be found in several other countries.
• The Fulani language, known as Fula, is classified within the Atlantic branch of the Niger-Congo language family.
• Fulani are divided into three groups: Makiyaya (herders), Fulanin Soro (those living in towns) and Bararo, which refer to Fulani living in forests. Bararo retain a close cultural connection to ancestral nature belief systems and rituals.
• The social structure of the pastoral Fulani is egalitarian, in marked contrast to that of other Muslim groups, such as the Hausa.
• They value family and community, with strong kinship ties and clear gender roles.
• Polygamy is practiced, and marriage is an important cultural milestone, often accompanied by elaborate rituals and festivals.
• Their traditions are deeply intertwined with their spirituality, which is influenced by Islam, as well as their connection to the land and nature.
• Fulani women are also known for their skill in weaving and craftsmanship.
• Fulani women are famous for their intricate hairstyles, which are often adorned with beads, cowrie shells, and other decorative elements.

Online Child Abuse: The Lancet

A study published in The Lancet, based on a comprehensive analysis of 123 studies from various regions, has highlighted the growing concern of online sexual abuse faced by children worldwide.

Key Findings of the Study on Online Child Abuse: 

• It highlights that one in 12 children globally (approximately 8.3%) has experienced online sexual abuse in the last decade.
• The study identified several subtypes of online sexual abuse, including online solicitation involving sexual inquiries/conversations (12.5%), non-consensual image sharing (12.6%), online sexual exploitation (4.7%), and sexual extortion (3.5%).
• There is no significant difference in online abuse rates between boys and girls, challenging earlier beliefs that girls are more vulnerable.
• This suggests changing online environments and behaviors, with increasing risks for boys.
• The report links online sexual exploitation to severe mental and physical health consequences for victims, including lower life expectancy and reduced employment prospects.

Right to Access Justice:

The Supreme Court (SC) of India fined a petitioner for frivolous litigation and forum shopping, citing misuse of judicial time and resources.The case highlights legal misuse, with the petitioner repeatedly filing meritless pleas to overturn a service dismissal.The Supreme Court affirmed that while the right to access justice is a fundamental right (Article 21), it is not absolute.
The SC stated that frivolous petitions waste judicial time, delay justice, and undermine the integrity of the legal system.

International Day of Zero Tolerance for Female Genital Mutilation:

The world observed the International Day of Zero Tolerance for Female Genital Mutilation (FGM) (6th February) under the theme “Step up the Pace”, emphasizing the need for stronger alliances and expanding movements to end FGM.FGM involves altering or injuring the female genitalia for non-medical reasons. It is internationally recognized as a violation of human rights (violates non-discrimination on the basis of sex), health, and integrity of girls and women.

Birth Anniversary of Sant Guru Ravidas:

The Prime Minister paid tribute to Sant Guru Ravidas on his 648th birth anniversary, celebrated on Purnima Tithi of Magha Month (which falls on 12th February in 2025).Sant Guru Ravidas Born in 1377 CE in Seer Goverdhanpur (UP), he was a Bhakti movement saint, poet, and social reformer. Also known as Raidas, Rohidas, and Ruhidas, he belonged to a marginalized community but emphasized human rights, equality, and spiritual enlightenment. His verses are included in Guru Granth Sahib, and he was revered by Meera Bai as her spiritual guide.

Death Anniversary of Pt Deendayal Upadhyaya:

The Prime Minister has paid tributes to Pt Deendayal Upadhyaya on his death anniversary (punya tithi). He passed away on 11th February 1968. Since 25th September 2014, his birth anniversary is observed as Antyodaya Diwas to honor his contributions to the nation. Pt Deendayal Upadhyaya: Born on 25th of September 1916, he was an Indian politician, philosopher, and ideologue of the RSS and Bharatiya Jana Sangh (BJS) (the predecessor of the Bharatiya Janata Party).

India-France Relations:

Prime Minister of India visit to France in February 2025 marked a significant milestone in India-France relations, with agreements on nuclear energy, defense, AI, and Indo-Pacific cooperation, reflecting the deepening strategic partnership between the two nations.Both nations signed a letter of intent to co-design, co-develop, and co-produce SMRs and AMRs, leveraging India’s industrial ecosystem and France’s expertise.Progress on the long-pending Jaitapur project was reviewed, emphasizing its role in India’s clean energy transition.

Obscenity Laws in India:

YouTuber Ranveer Allahbadia and comedian Samay Raina are under police investigation for alleged obscene remarks on the YouTube show India’s Got Latent.Obscenity laws in India aim to balance free speech with moral standards and prevent explicit content that corrupts public morality. With the rise of digital platforms, defining what constitutes obscenity online has become more complex.

Veer Savarkar Marseille Escape:

Prime Minister of India recalled Veer Savarkar’s attempted escape from the British custody in Marseille, France, during his visit to the port city.The Marseille escape attempt was an unsuccessful bid by Veer Savarkar to flee British custody while being transported to India for trial in July 1910.He jumped from the porthole of the ship SS Morea while docked at the French port of Marseille but was recaptured by French authorities and handed back to the British.Veer Savarkar, a revolutionary nationalist, was arrested in London in March 1910 for his role in India’s independence movement. He was charged with abetting the murder of Nashik magistrate A.M.T. Jackson and other anti-colonial activities.

Jotham Napat Becomes Vanuatu’s New PM:

Jotham Napat was elected as Vanuatu’s new Prime Minister, securing the position unopposed. His nomination was proposed by Charlot Salwai, leader of the Reunification Movement for Change and a former prime minister. Ishmael Kalsakau, another former prime minister and MP for Port Vila, confirmed there were no other nominations and congratulated Napat on his election.

RBI Injects ₹2.5 Lakh Crore to Strengthen Banking Liquidity:

The Reserve Bank of India (RBI) has announced a significant liquidity infusion of ₹2.5 lakh crore into the banking system through a Variable Rate Repo (VRR) auction. This move is aimed at addressing the current liquidity shortfall in the financial system, which has been impacted by various economic factors. The liquidity support will help stabilize the banking sector, ensuring the smooth flow of credit and preventing any major disruptions in financial markets

Easebuzz Secures RBI Authorization:

Easebuzz, a leading payment solutions provider, has received final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). This regulatory approval allows the company to streamline digital transactions, ensuring secure and seamless payment processing for businesses across India. The license reinforces Easebuzz’s commitment to compliance and enhances its role in the growing fintech sector.