Daily Current Affairs – 02-02-2025
Tamil Nadu
ExTeM Centre of
IIT-Madras
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ExTeM Centre at IIT Madras is working on advanced space manufacturing technologies.
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Its research includes 3D-printed buildings, metal foams, and optical fibres in space.
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Also includes other revolutionary methods like Development of concrete construction without water.
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ExTeM’s research will support India’s Gaganyaan mission and future space stations.
Bullish on Tamil
Nadu Campaign
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The industrial delegation to Davos in Switcherland from Tamil Nadu has created special pins to promote the State as a strong and resilient investment destination.
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Special symbols created to represent Tamil Nadu, a concept first introduced during the Global Investors Meet.
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The symbol feature the Tamil letter “tha” and the iconic bull, symbolizing strength, resilience, and progress.
Year-long Plastic
Waste Collection Drive – TNPCB
Launch:
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Tamil Nadu Pollution Control Board (TNPCB) to launch a yearlong plastic waste collection drive starting January 26.
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The drive will cover all districts and the Greater Chennai Corporation on a monthly basis.
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Objective: Aim to reduce plastic usage and raise environmental awareness.
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Budget: The initiative will be carried out with a budget of ₹10 crore.
Republic Day Awards
and Medals – Tamil Nadu Government
Anna Bravery Medal:
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Awarded to: Individuals making outstanding societal contributions.
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Recipient: K. Vetrivel (Fire and Rescue Services, Chennai).
Kottai Ameer Medal:
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Awarded to: Individuals promoting religious harmony.
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Recipient: S.A. Ameer Amsha (Velipatti, Ramanathapuram).
Agriculture Department Award:
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Named after: C. Narayanasamy Naidu.
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Awarded to: Farmers with high productivity.
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Recipient: R. Murugavel (Vadugapatti, Theni).
Gandhian Police Medal:
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Awarded to: Police officers who effectively control illicit liquor.
Recipients:
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P. Chinnakamanan (Police Inspector, Villupuram)
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K.M. Kamarx (Head Constable, Villupuram)
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Kugarthik (Head Constable, Thuraiyur, Trichy)
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K. Siva and P. Poomalai (Salem District Police).
Best Police Stations:
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1st Prize: Madurai City Police Station.
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2nd Prize: Tiruppur City Police Station.
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3rd Prize: Thiruvallur District Police Station.
RBI forms AI
committee
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RBI has constituted an 8
member committee chaired by Pushpak Bhattacharya , a professor at IIT Bombay.
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The committee’s aim is to develop a framework for responsible and ethical enablement of artificial intelligence (FREE-AI) in the financial sector.
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The committee is expected to submit its report within 6 months from the date of its 1st meeting.
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The committee will identify potential risks related to AI and recommend an evaluation, mitigation, and monitoring framework for financial institutions (FIs).
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These FIs include banks, NBFCs, and FinTechs.
Swanari TechSprint
3.0 launched
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The Reserve Bank Innovation Hub (RBIH) and Indian Institutes of Management Ahmedabad ( IIMA) Ventures
have launched ‘Swanari TechSprint 3.0’ , a program to support women-centric fintech startups in India.
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The program will provide resources, mentorship, grants, and funding to selected startups.
Non performing
assets
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Gross non-performing assets (NPAs) of public sector banks ( PSBs ) have declined to 3.12% in September 2024, from 14.98% in March 2018.
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The number of bank branches increased to 1, 60,501 in September 2024.
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The capital adequacy ratio of PSBs has improved by 393 basis points (bps) to 15.43%
from 11.45% in March 2015.
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During 2023-24, PSBs recorded their highest ever aggregate net profit of ₹1.41 lakh crore .
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In the last 3 years, PSBs have paid a total dividend of ₹61,964 crore .
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Under the Mudra scheme , women beneficiaries account for 68% of the total.
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Under the PM-SVANidhi scheme , women account for 44% .
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Gross advances of scheduled commercial banks increased to ₹175 lakh crore in March 2024, from ₹8.5 lakh crore in 2004.
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The total number of operative Kisan Credit Card (KCC) accounts reached 7.71 crore as of September 2024, with a total outstanding of ₹9.88 lakh crore.
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MSME advances registered a compound annual growth rate (CAGR) of
15% during the last three years, reaching ₹28.04 lakh crore as of March 2024.
India’s FY25 GDP
growth forecast
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India’s real GDP growth is projected at 6.4% for FY25 , reaching ₹184.8 lakh crore (at constant 2011-12 prices), according to the National Statistics Office (NSO).
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Nominal GDP growth is estimated at 9.7% , reaching ₹324.1 lakh crore (at current prices).
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Real Gross Value Added (GVA) growth is projected at 6.4% , estimated at ₹168.9 lakh crore.
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Nominal GVA growth is estimated at 9.3% , reaching ₹292.64 lakh crore.
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Private Final Consumption Expenditure (PFCE) at constant prices grew by 7.3% .
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Government Final Consumption Expenditure (GFCE) at constant prices grew by 4.1% .
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Gross Fixed Capital Formation (GFCF) is projected to grow at 6.4% .
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Only two of eight broad economic sectors are estimated to register higher growth than the previous year.
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The primary sector’s growth is projected at 3.8% .
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The growth of public administration, defense and other services is projected at 9.1% .
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The secondary sector’s construction segment is estimated to grow at 8.6% .
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The manufacturing sector’s growth is projected at 5.3% .
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In the tertiary sector, financial, real estate and professional services are expected to grow at 7.3% .
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The combined growth rate of hotel, trade, transport, and broadcasting services is estimated at 5.8% .