Daily Current Affairs for UPSC IAS: 8th January 2025

Net-Zero Banking Alliance : In News

Wall Street’s biggest banks have quit Net-Zero Banking Alliance which had been one of the most popular clubs inside global finance.

• Bank-led and UN-convened, it is a group of leading global banks committed to aligning their lending, investment, and capital markets activities with net-zero greenhouse gas emissions by 2050.
• It is the climate accelerator for UNEP Financial Initiative’s Principles for Responsible Banking (PRB).
• It is governed by a Steering Group and Chair.
• The Steering Group is selected by member banks, and represents a diversity of geographies and business models.
• It is supported and convened by the UNEP FI Secretariat, and the United Nations also holds a seat on the Steering Group.
• It operates in compliance with the NZBA governance document adopted in October 2021 and updated in August 2023 and March 2024.
• All NZBA member banks have signed the Commitment Statement and pledged to follow the target setting and reporting processes outlined there and in the accompanying Guidelines for Climate Target Setting for Banks.
• The Commitment Statement is a pre-requisite for joining the Net-Zero Banking Alliance, and is signed by a bank’s CEO. All banks that have signed the commitment will:
• Transition the operational and attributable greenhouse gas (GHG) emissions from their lending and investment portfolios to align with pathways to net-zero by 2050 or sooner.
• Within 18 months of joining, set targets for 2030 or sooner and a 2050 target, with intermediary targets to be set every 5 years from 2030 onwards.
• Banks’ first 2030 targets will focus on priority sectors where the bank can have the most significant impact, ie. the most GHG-intensive sectors within their portfolios, with further sector targets to be set within 36 months.
• Annually publish absolute emissions and emissions intensity in line with best practice and within a year of setting targets.
• Take a robust approach to the role of offsets in transition plans.
• No Indian Bank is a member of this alliance.

Dozer Push Mining Method:

The CSIR-Central Institute of Mining and Fuel Research (CSIR-CIMFR) has successfully conducted the first trial blast for the Dozer Push Mining Method, integrating advanced digital technologies, for the first time in India.

• It is an unmanned, automated machinery to optimizes the mining process which ensures that vibration and flyrock are controlled within safe limits.
• It is an innovative approach developed by CSIR-CIMFR which aims to enhance safety and operational efficiency in mining processes.
• It offers a viable alternative to the conventional truck-shovel mining technique or shovel-dumper and dragline methods.
• It offers distinct advantages such as improved efficiency by enabling faster coal recovery, reducing delays caused by adverse weather conditions such as the monsoon season and highly cost-effective, with an estimated 7-10% reduction in operational costs compared to conventional methods.
• Additionally, it enhances productivity by improving the utilization of dragline machines and reducing unit costs.
• Moreover, the unmanned operation of the Dozer Push Mining method greatly enhances worker safety, minimizing the risks associated with manual labor and traditional mining techniques.

Global Nutrition Targets : Report

A recent Lancet study evaluating global progress on Global Nutrition Targets (GNTs) from 2012 to 2021 showed slow progress in tackling maternal and child malnutrition, undernutrition, and overweight.

• The findings raise concerns about policy design and the need for innovative strategies to address these ongoing issues.

Key Findings of the Study:

• Slow and Insufficient Progress: Across 204 countries, there has been slow and insufficient progress in meeting the GNTs from 2012 to 2021, with projections up to 2050 showing limited success.
• Few countries are expected to meet the targets for stunting in children under 5.
• None of the countries are projected to meet the targets for low birth weight, anaemia, and childhood overweight by 2030.
• Anaemia and India: Anaemia in India has remained static for two decades.
• Iron deficiency is assumed to be the cause but accounts for only one-third of anaemia cases, unknown causes contribute to the other significant third.
• Anaemia prevalence increased during the Covid-19 lockdown when school meals (Midday Meal Scheme) stopped, highlighting the need for a broader nutrition approach.
• The study found discrepancies in anaemia measurements, in India, venous blood-based (blood is drawn from a vein) anaemia prevalence (as recommended by WHO) was half that of capillary blood-based (blood is taken from a fingertip) prevalence in national surveys.
• Stunting: Stunting often develops within the first two years of life, increasing from 7–8% at birth to 40% by age two in India.
• Overfeeding children after age 2 years may lead to being overweight rather than correcting stunting.
• Poor children in India consume only 7 grams of fat per day, against the required 30–40 grams .
• Childhood Overweight: Overweight among children is increasing globally, including in India, contributing to “metabolic overnutrition,” which could lead to chronic health problems such as non-communicable diseases.
• A significant portion of Indian children (50%) face metabolic overnutrition, which contributes to non-communicable diseases.

Global Nutrition Targets (GNTs):

• World Health Assembly Resolution, 2012: Endorsed a Comprehensive Implementation Plan on maternal, infant, and young child nutrition, setting six global nutrition targets for 2025.
• Global Nutrition Targets:
  • Achieve a 40% reduction in the number of children under-5 who are stunted.
  • Achieve a 50% reduction in anaemia in women of reproductive age.
  • Achieve a 30% reduction in low birth weight.
  • Ensure that there is no increase in childhood overweight.
  • Increase the rate of exclusive breastfeeding in the first 6 months to at least 50%.
  • Reduce and maintain childhood wasting to less than 5%.

Common Noctule Bat : New Study

A new study has uncovered the migration strategy of a mammal species called common noctule bat, which travels thousands of kilometres every spring across Europe uses warm storm fronts to aid their migration and conserve energy while flying.

• The Common noctule (Nyctalus noctula) is an insectivorous bat.
• Its colors range from golden to dark brown above and usually pale brown below.
• Their wings are narrow and pointed, and they have a characteristic powerful, direct flight, with repeated steep dives when chasing flying insects.
• Noctules echolocate at low frequencies around 25kHz, just within the upper limit of human hearing, thus they can sometimes be heard, particularly by children.
• They generally reside in forests but may forage in open areas and dwell in or near human habitation.
• Roosting sites include hollow trees, buildings, and caves.
• During winter they hibernate in caves, rock crevices, bat boxes, or blocks of flats in Eastern Europe, where they are the most common hibernating bat species in the cities.
• They are found in common throughout Europe, most of temperate Asia to Japan and Burma, Oman, Viet Nam, Taiwan and Algeria.
• Conservation Status: IUCN: Least Concern

Production Linked Incentive Scheme 1.1:

The union Minister of Steel and Heavy Industries launched the second round of PLI scheme for Specialty Steel, termed as PLI Scheme 1.1.

• It will be implemented during the production period of FY 2025-26 to FY 2029-30.
• It covers five (5) product categories in line with the existing PLI Scheme, namely Coated / Plated Steel Products, High Strength / Wear resistant Steel, Specialty Rails, Alloy Steel Products & Steel wires and Electrical Steel.
• These products have a wide range of application, from white goods to transformers to Automobiles and other niche sectors.
• Reduction in threshold investment & capacity for the Cold-Rolled Grain-Oriented (CRGO) product sub-categories, allowing carry forward of excess production to the immediately following year for the purpose of claiming incentive and reduction in threshold investment under capacity augmentation mode.
• Not all companies would need to install new mills.
• Recognising the importance of producing quality steel, energy efficiency and other process improvements, companies investing in augmentation of existing capacities will be allowed to participate in the scheme.
• The Centre had earlier introduced the PLI scheme to encourage domestic production of specialty steel and lower imports by drawing in capital investments.
• It was initially launched for three sectors to address the need to boost domestic manufacturing during COVID-19 lockdown, the PLI scheme was later extended to include steel in November 2020.

BHARATPOL Portal:

Union Home Minister and Minister of Cooperation will launch BHARATPOL portal in New Delhi on 07th January, 2025 in Bharat Mandapam.

• It will streamline the processing of all requests for international assistance through INTERPOL, including the issuance of Red Notices and other colour-coded INTERPOL notices.
• It will become a transformative tool for field-level police officers, enhancing their efficiency in dealing with crimes and security challenges.
• By facilitating easier and faster access to international assistance, it will strengthen India’s efforts in combating transnational crimes.
• It will significantly facilitate Indian Law Enforcement Agencies (LEAs) enabling real-time information sharing for faster access to international police assistance.
• It will be developed by Central Bureau of Investigation (CBI).

Armed Forces Tribunal (AFT):

The Supreme Court recently suggested constituting Benches of the Armed Forces Tribunal (AFT) in Jammu and Kashmir and Himachal Pradesh to deal with the growing pendency in defence-related cases from these two areas.

• AFT is a military tribunal in India established under the Armed Forces Tribunal Act, 2007.
• It is functioning under the Ministry of Defence (MoD).
• It is responsible for resolving military-related disputes, including service matters and appeals from court-martial decisions.
• Functions:
  • To provide for the adjudication or trial of disputes and complaints with respect to commission, appointments, enrolment, and conditions of service in respect of persons subject to the Army Act, 1950; the Navy Act, 1957; and the Air Force Act, 1950.
  • To provide for appeals arising out of orders, findings, or sentences of courts-martial held under the said Acts and for matters connected therewith or incidental thereto.
• The tribunal can also dismiss the appeal if the court martial findings are found to be justified.
• Thus, the tribunal has original jurisdiction in service matters and appellate jurisdiction in court martial matters.
• Any appeal by a person against a decision given by the tribunal can only be taken up in the Supreme Court.
• Besides the principal bench in New Delhi, AFT has regional benches at Chandigarh, Lucknow, Kolkata, Guwahati, Chennai, Kochi, Mumbai, Jabalpur, Srinagar, and Jaipur.
• Each Bench comprises of a Judicial Member and an Administrative Member.
• The Judicial Members are retired High Court Judges, and Administrative Members are retired Members of the Armed Forces who have held the rank of Major General/equivalent or above for a period of three years or more.
• Judge Advocate General (JAG), who has held the appointment for at least one year, are also entitled to be appointed as the Administrative Member.
• The Tribunal shall transact their proceedings as per the Armed Forces Tribunal (Procedure) rules, 2008.
• All proceedings in the Tribunal will be in English.
• The Tribunal will normally follow the procedure as is practiced in the High Courts of India.

Vembanad Lake:

Climate change and pollution from slaughterhouses and shrimp peeling sheds are choking the ecosystem of Vembanad Lake, which is rapidly shrinking in acreage.

• Vembanad Lake is the longest lake in India and the largest lake of Kerala.
• It is spread across an area of 2,033 sq.km., across Alappuzha, Kottayam, and Ernakulam districts.
• It is also known as Vembanad Kayal, Vembanad Kol, Punnamada Lake (in Kuttanad), and Kochi Lake (in Kochi).
• Formed from four rivers – the Meenachil, Achankovil, Pampa, and Manimala, it also has an outlet to the Arabian Sea in the west.
• The lake surrounds the islands of Pathiramanal, Perumbalam, and Pallippuram and is a popular backwater stretch in Kerala.
• Vallam Kali (i.e Nehru Trophy Boat Race) is a Snake Boat Race held every year in the month of August in Vembanad Lake.
• The Kumarakom Bird Sanctuaryis located on the east coast of the lake.
• It was declared as a Ramsar site of international importance in 2002.

World Gold Council : In News

Central banks around the world collectively, in November 2024, added 53 tonnes of gold to their reserves, of which the Reserve Bank of India’s addition was 8 tonnes, the World Gold Council (WGC) said in a report recently.

• World Gold Council (WGC) is a non-profit association of the world’s leading gold producers.
• As a market development organization for the gold industry, the WGC includes 33 members and many members are gold mining companies.
• It was formed in 1987 by some of the world’s most forward-thinking mining companies to promote the use of and demand for gold through marketing, research, and lobbying.
• Headquarters: London, UK
• It aims to maximize the industry’s potential growth by monitoring and defending existing gold consumption.
• It achieves this by setting up gold standards, proposing policies, ensuring fairness and sustainability in the gold mining industry, and promoting the usage and demand for gold for individuals, industries, and institutions.
• The WGC is also the global authority on gold, and they offer comprehensive analyses of the industry.
• The most famous publications are quarterly reports on the gold market and gold demand trends analyzed by both sector and geographical location.
• It also co-sponsors research in the development of new uses of gold, or of new products containing gold.
• It covers the markets which comprise about three-quarters of the world’s annual gold consumption.
• The WGC was the creator of the first gold exchange-traded fund.

Artesian Well in India:

Large amounts of water began gushing out from underground in Jaisalmer, Rajasthan that is attributed to the Artesian Well in India.Experts rejected the idea of the water being linked to the ancient Saraswati river, suggesting water may be millions of years old, with origins from Tethys sea (pre-Vedic times).An artesian well is a type of well in which water rises naturally to the surface under pressure without the need for pumping. This occurs when water is trapped in a confined aquifer and is under significant pressure.It is also described as “confined” water because of hardy materials above and below it.

SBI Reports Decline in Poverty in India:

A recent research report by the State Bank of India (SBI) highlights a remarkable decline in poverty rates across rural and urban India.The report attributes this decline to targeted government interventions, enhanced rural infrastructure, and improved consumption patterns among lower-income groups.Rural Poverty: Reduced to 4.86% in FY24 from 25.7% in 2011-12. Urban Poverty: Estimated at 4.09% in FY24, down from 13.7% in 2011-12.

Department of Scientific and Industrial Research:

The Department of Scientific and Industrial Research (DSIR) celebrated its 40th Foundation Day on 4th January 2025, marking four decades of contributions to India’s scientific and industrial development.DSIR was established on 4th January 1985, under the Ministry of Science and Technology through a Presidential Notification under the 164th Amendment of the Government of India (Allocation of Business) Rules, 1961.

Punjab De-Addiction Registry:

Punjab’s Drug Control Policy focuses on prevention, de-addiction, and rehabilitation, with a central registry to monitor treatments and prevent medication misuse.A digital registry leveraging Aadhaar-based biometric authentication to uniquely identify patients undergoing treatment for substance abuse.

Indus Valley Script:

Tamil Nadu Chief Minister offer of a $1 million prize for anyone who deciphers the Indus Valley script serves a purpose beyond solving the lingering mystery regarding the 5,000-year-old civilization.The writing system of the Indus Valley Civilization (c. 2600-1900 BCE), featuring undeciphered symbols with no confirmed linguistic association.

Organic Fisheries Cluster:

Union Minister inaugurated India’s first Organic Fisheries Cluster in Soreng District, Sikkim.This initiative, under the Pradhan Mantri Matsya Sampada Yojana (PMMSY)A fisheries cluster designed for sustainable and eco-friendly fish farming using organic practices.

Umred-Pauni-Karhandla Wildlife Sanctuary:

The Bombay High Court took suo moto cognizance of an incident involving tourists cornering a tigress and her cubs in Umred-Pauni-Karhandla Wildlife Sanctuary, exposing lapses in wildlife protection and monitoring protocols.It is Situated in Pauni Tahsil, Bhandara district, and Umred, Kuhi, and Bhivapur Taluka, Nagpur district, Maharashtra.

Lionel Messi Honoured with the US Presidential Medal of Freedom:

Lionel Messi, captain of the Argentina men’s football team and one of the greatest footballers of all time, was honoured with the United States Presidential Medal of Freedom, the country’s highest civilian award. This recognition marks a significant milestone in his illustrious career, making him the first male footballer to receive this prestigious honour. Messi, however, could not attend the ceremony held at the White House due to prior commitments.

2025 Tibet-Nepal Earthquake:

The 2025 Tibet Earthquake, a catastrophic seismic event, occurred on January 5, 2025, shaking the Tibetan Plateau and its neighboring regions. The earthquake measured 7.1 on the Richter scale, as per the United States Geological Survey (USGS), while the China Earthquake Networks Center (CENC) recorded a magnitude of 6.8. It caused widespread destruction, leaving thousands displaced and sparking international concern

Suzuki’s Investment in NDDB’s Bio-Gas Venture:

Suzuki Motor Corporation has decided to acquire a 26% stake in NDDB Mirda Ltd, a bio-gas venture developed by the National Dairy Development Board (NDDB). This move aligns with Suzuki’s plans to use Compressed Bio-Gas (CBG) for enhancing the longevity and performance of vehicles. Suzuki had initially sought a 49% stake in the venture but has been allowed to take a 26% stake. However, there is a provision for Suzuki to gradually increase its stake to 49%.

Shigemi Fukahori, Nagasaki Atomic Bomb Survivor Dies:

Shigemi Fukahori, a survivor of the 1945 atomic bombing of Nagasaki, passed away at the age of 93 on January 3, 2025. Fukahori dedicated his life to advocating for peace and nuclear disarmament, often sharing his painful experiences with students and people around the world. His life’s mission was to prevent the horrors he witnessed from ever happening again, and he played a significant role in spreading anti-nuclear messages globally.

Nadi Tarangini – India’s First Ayurvedic Diagnostic Device Approved by CDSCO:

Nadi Tarangini, an AI-powered pulse diagnostic device developed by Atreya Innovations, received approval from the Central Drugs Standard Control Organization (CDSCO), making it India’s first ayurvedic medical device to be officially recognized. The device, which combines modern technology with ancient Ayurvedic practices, was created after over six years of research, and aims to revolutionize traditional Ayurvedic diagnostic methods by offering precise health insights through pulse examination.

India Ranked Second for Cyberattacks in 2024:

India became the second most targeted nation globally for cyberattacks, with 95 entities falling victim to data theft, according to CloudSEK’s ThreatLandscape Report 2024. The United States topped the list with 140 attacks, while Israel ranked third with 57 attacks.The finance and banking sectors were the most affected, with 20 victims. Other impacted sectors included government (13 victims), telecommunications (12), healthcare and pharma (10), and education (9).