Weekly Current Affairs Test : 15th to 21st April 2024

In India, the disinvestment process is overseen by the Department of Investment and Public Asset Management (DIPAM), operating under the Ministry of Finance. DIPAM ’s main goal is to manage the government ’s investments in public sector enterprises and supervise the disinvestment of government equity in these enterprises. Additionally, in 2005, the government established the National Investment Fund (NIF) to serve as a channel for the proceeds generated from the disinvestment of Central Public Sector Enterprises. The creation of NIF aimed to ensure transparent and efficient utilization of these funds for various developmental purposes.

• Key findings: The IMF warns of rising cyber threats endangering macro-financial stability, with extreme losses reaching $2.5 billion. Cyberattacks have nearly doubled since the pandemic, with financial firms, especially banks, facing the brunt.
• India ranks 10th in cybercrime, with advance fee payment frauds being the most common, according to the World Cybercrime Index developed by the University of Oxford and UNSW Canberra

• Global hepatitis report 2024
  • Released by WHO
  • India accounted for over 11% of the global burden of hepatitis B &C cases, ranking second after China.
  • Hepatitis is liver inflammation caused by various factors, such as drugs, alcohol, and autoimmune disorders. Symptoms can range from jaundice and fever to chronic illness. The five main strains are A, B, C, D, and E, with B and C leading to chronic disease, liver cirrhosis, cancer, and death. While a vaccine exists for type B, none is available for type C

An Initial Public Offering (IPO) refers to the process by which a private company becomes a public company by offering its shares to the general public for the first time. This allows the company to raise capital from public investors. Option D correctly describes this process, making it the correct answer. The other options do not accurately describe what an IPO entails.

• Released by Earth Action
• Key Findings: In 2024, it ’s projected for September 5th globally and April 23rd in India. There has been over 7% rise in global plastic waste since 2021, with 12 countries responsible for 60% of mismanaged plastic waste, including China, India, and Russia.
• India is categorized as a Low-Waste-Producing Polluter with a high Mismanaged Waste Index (MWI)
• Plastic Overshoot Day (similar to Earth Overshoot Day) marks when global plastic waste surpasses the world ’s capacity to manage it, leading to pollution.

• Context: The Election Commission of India (ECI) has introduced a ground-breaking initiative for the 2024 Lok Sabha elections, providing the option of home voting for elderly citizens above 85 years of age and Persons with Disabilities (PwDs) with a 40% benchmark disability.
• This initiative aims to enhance inclusivity and accessibility in the electoral process.

• Context: Mount Etna, Europe ’s largest and among the most active volcanoes, has been producing rare smoke rings known as volcanic vortex rings.
  • These circular rings of gas, primarily water vapour, emerge from a newly formed pit crater on the volcano ’s north side.
• Mount Etna Italy
• K īlauea Hawaiian Islands (Pacific Ocean)
• Mauna Loa Hawaiian Islands (Pacific Ocean)
• Mount Vesuvius Italy

• The Directorate of Enforcement or Enforcement Directorate (ED) is a domestic law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crimes in India.
• It is part of the Department of Revenue, Ministry of Finance, Government Of India.
• The Enforcement Directorate focuses on investigating and prosecuting cases related to money laundering, foreign exchange violations, corruption, and economic offenses. Its primary objective is to curb the generation and circulation of black money and to ensure compliance with the laws concerning foreign exchange and prevention of money laundering.

• Context: The Indian government has instructed e-commerce platforms to stop categorizing certain beverages, including Bournvita, as “health drinks ”on their sites.
• The Food Safety and Standards Authority of India (FSSAI) is a statutory body that regulates the manufacture, storage, distribution, sale, and import of food, and establishes standards to ensure food safety.
• It is administered by the Ministry of Health and Family Welfare.

• Context: Lady Hardinge Medical College in Delhi has inaugurated its Radiation Therapy facility, providing treatment to cancer patients using Brachytherapy equipment.
• Radiation therapy, also known as radiotherapy, uses high-energy radiation to kill cancer cells or shrink tumors. It can be used alone as a primary treatment for cancer or in combination with other treatments such as surgery and chemotherapy. The primary goal of radiation therapy is to target cancer cells while minimizing damage to surrounding healthy tissues. It is not a surgical procedure to remove tumors, and it does not use radioactive substances as a primary treatment method.

• Context: Shrinkflation, the reduction in product sizes while maintaining prices, is resurfacing in the fast-moving consumer goods (FMCG) industry due to rising input costs.
• Shrinkflation refers to the practice employed by manufacturers wherein the size or quantity of a product is reduced while keeping its price the same or slightly adjusted.
  • This strategy allows companies to maintain profit margins amid rising production costs.
  • Shrinkflation often goes unnoticed by consumers initially but can lead to dissatisfaction as they realize they are receiving less for the same amount of money.

About K árm án Line

It is the boundary between Earth ’s atmosphere and outer space, located approximately 100 kilometres (62 miles) above sea level. It is named after Hungarian-American engineer and physicist Theodore von K árm án, who first calculated the altitude where the atmosphere becomes too thin to support conventional aircraft flight.

A nostro account is a bank account held in another country by a domestic bank, denominated in the currency of the overseas country.

• Context: A University of Melbourne expedition to the Southern Ocean has uncovered that wind is a significant factor in the creation of massive rogue waves.
• About Rogue Waves:
  • Rogue waves are large, unpredictable, and dangerous ocean waves that are at least twice the height of the surrounding waves.
  • They can be formed when multiple wave crests pass through a single point, or from a combination of waves and currents.
  • Rogue waves are rare, but they can be a threat to ocean liners, capital ships, and land structures.

• Soil acidification is a natural process that occurs when the concentration of hydrogen ions in the soil increases.
• This reduces the soil ’s pH.
• Soil acidification can be accelerated by some agricultural practices, such as:
• Removing plant and animal products, Leaching excess nitrate, Adding some nitrogen-based fertilizers, Building up mostly plant-based organic matter, and Using ammonium-based fertilizers.

Trade and Development Report Update (April 2024)

• Published by the United Nations Conference on Trade and Development (UNCTAD)
• Key Findings:
  • Global merchandise trade decline: In 2023, global merchandise trade decreased by approximately 1% in real terms due to trade tensions among major economies, subdued global demand, and disruptions in key shipping routes.
  • Impact of developed economies ’monetary policy on developing countries: Rapid and simultaneous tightening of monetary policy by major developed economies has led to higher debt servicing costs and challenges in securing new financing options for developing countries. Additionally, increased interest rates in developed countries have depreciated currencies in developing nations, and double-digit interest rates set by central banks in many developing countries have negatively affected domestic demand, employment, and household incomes.
  • Global debt crisis: Developing countries ’governments are struggling with increasing debt payment obligations. This year marked the first instance of a net negative resource transfer from developing to developed countries since 2008. By 2023, nine low-income countries had fallen into debt distress, with an additional 25 on the brink.

• Context: The Ministry of Health and Family Welfare has initiated an investigation into organ transplants involving foreign nationals following concerns about potential commercial dealings.
• National Organ &Tissue Transplant Organization (NOTTO) data shows a significant rise in foreign nationals receiving organ transplants from private hospitals, with reports suggesting unauthorized “commercial dealings.”
• About National Organ and Tissue Transplant Organisation:
  • NOTTO operates under the Directorate General of Health Services, Ministry of Health and Family Welfare, in New Delhi. It oversees organ procurement, allotment, distribution, and registry of organs and tissue donation and transplantation in India.

• Option A: Type 1 diabetes does not develop because of your lifestyle. Type 1 diabetes is an autoimmune condition. Diet and activity levels have nothing to do with whether you develop type 1 diabetes or not.
• Option B: Type 2 diabetes is characterized by insulin resistance, where the body ’s cells do not respond effectively to insulin. It is not an autoimmune disease, and the immune system does not attack the insulin-producing cells in the pancreas.
• Option C: Gestational diabetes is a form of diabetes that occurs during pregnancy. It usually develops in the second or third trimester and can increase the risk of complications for both the mother and baby. While it typically resolves after childbirth, women who have had gestational diabetes are at an increased risk of developing type 2 diabetes later in life.
• Option D: Hypoglycemia is a condition characterized by low blood sugar levels, not high blood sugar levels as stated in the option.

• Only statement 3 is correct.
• Black holes are actually formed when massive stars undergo a supernova explosion at the end of their lives. Here ’s a brief overview of the process:
  • A massive star burns through its nuclear fuel and eventually runs out of fuel for nuclear fusion.
  • Without the outward pressure from nuclear fusion to counteract the force of gravity, the star ’s core collapses under its own gravity.
  • This collapse leads to a supernova explosion, where the outer layers of the star are ejected into space, leaving behind a dense core.
  • If the remaining core ’s mass is above a certain threshold (about three times the mass of the Sun), it collapses further, forming a black hole.
• So, while nuclear fusion plays a role in a star ’s life by providing the energy that keeps it shining, black holes are formed through the collapse of massive stars after they ’ve exhausted their nuclear fuel.
• The boundary surrounding a black hole, known as the event horizon, marks the point of no return. The escape velocity from the event horizon of a black hole exceeds the speed of light, making it impossible for anything to break free from its gravitational pull once it crosses this boundary.

The Noyyal River is a small river in Western Tamil Nadu, and a tributary of Kaveri River. It rises from the Vellingiri hills in the Western Ghats in Tamil Nadu, very closer in proximity to Kerala border, and flows through many villages and the cities of Coimbatore, and Tirupur.

• Context: Israel reportedly used GPS jamming to confuse Iran ’s missile targeting teams ahead of Iran ’s direct attack on Israel.
• GPS spoofing is a technique where fake GPS signals are broadcasted to deceive GPS receivers into believing that the spoofed location is the actual location. This can be used to mislead navigation systems, track someone ’s location inaccurately, or even cause accidents by providing false navigation information. It is a malicious activity that undermines the integrity and reliability of GPS-based systems.

• What is the Innovation trap?
  • It refers to a situation where organizations strive to innovate but inadvertently fall into patterns of thinking and behaviour that stifle genuine creativity and progress. This trap often arises when organizations prioritize conformity, rely too heavily on past successes, or resist challenging the status quo.
• Explanation using example:
  • Kodak ’s downfall can be attributed to its reluctance to embrace digital photography despite inventing the first digital camera in 1975. Instead of capitalizing on this innovation, Kodak continued to focus on its traditional film business, believing that digital photography was just a passing fad. This lack of foresight and innovation allowed competitors like Canon and Nikon to gain a foothold in the digital camera market.

State of World Population 2024 report

• Released by the United Nations Population Fund ’s (UNFPA)
• The report, titled “Interwoven Lives, Threads of Hope: Ending Inequalities in Sexual and Reproductive Health (SRH) and Rights,”highlights women ’s sexual and reproductive health and rights (SRHR), encompassing freedom from torture, right to health, privacy, education, life, and discrimination prohibition.

• Context: Private investment in India, measured by Gross Fixed Capital Formation (GFCF) as a percentage of GDP, has seen a decline since 2011-12. Despite government efforts like corporate tax cuts, private investment hasn ’t picked up.
• What is GFCF?
  • Gross Fixed Capital Formation, measures the growth in fixed capital in an economy, including assets like buildings and machinery. It serves as an indicator of private sector investment willingness and includes government investment. GFCF is important because fixed capital boosts economic growth by increasing productivity and living standards. Developed economies tend to have more fixed capital per capita compared to developing ones.

• Context: Srinagar is being considered for the prestigious World Craft City (WCC) title by the World Crafts Council International (WCCI).
• About WCC:
  • The World Craft City (WCC) initiative was launched in 2014 by the World Crafts Council International (WCCI), a Kuwait-based organization. It acknowledges the contributions of local authorities, craftspeople, and communities to cultural, economic, and social development worldwide. WCC aims to establish a network of craft cities globally, promoting the principles of the creative economy and preserving traditional crafts.