Weekly Current Affairs Test : 1st to 7th April 2024

• India Gaming Report 2024 Released by Interactive Entertainment and Innovation Council (IEIC) and WinZO
• Key findings: India is the largest gaming market with 568 million users, accounting for 1 in 5 online gamers globally. The Indian gaming market is expected to reach $6 Billion by 2028. The number of Indian gaming companies surged from 25 in 2015 to over 1400 in 2023
• Regulations: MeitY acts as the nodal agency for online gaming regulations and development; Draft National AVGC Policy, and National AVGC Centre of Excellence; 100% FDI allowed in the gaming sector utilizing automatic route within Electronic System and IT &BPM sectors

• IFC —a sister organization of the World Bank and member of the World Bank Group —is the largest global development institution focused exclusively on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.
• The IFC is owned and governed by its member countries, but has its own executive leadership and staff that conduct its normal business operations.
• It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.
• Functions:
  • It offers an array of debt and equity financing services and helps companies face their risk exposures, while refraining from participating in a management capacity.
  • The corporation also offers advice to companies on making decisions, evaluating their impact on the environment and society, and being responsible.
  • It advises governments on building infrastructure and partnerships to further support private sector development.
• Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.

• The GOF was launched by India in 2022 to promote accountability for crimes against the Blue Helmets during its presidency of the UN Security Council.
• India, Bangladesh, Egypt, France, Morocco and Nepal are co-chairs of the GOF, which comprises 40 member states.

• Released by the United Nations Environment Programme (UNEP). The report co-authored with WRAP (Waste and Resources Action Programme) was published ahead of International Day of Zero Waste (observed annually on 30 March)
• Key Findings: Households across all continents wasted over 1 billion meals a day in 2022, while 783 million people were affected by hunger and a third of humanity faced food insecurity. Food Waste generates an estimated 8 –10% of global greenhouse gas emissions.
• Issues: Due to the lack of robust cold chains, hotter countries generate more food waste per capita in households; Fragmented food system.

• Context: The IRRI-South Asia Regional Centre (ISARC) aims to develop rice varieties with low methane emissions and improve the productivity of nutritious rice.
• Dry Seeded Rice (DSR) is a modern rice cultivation technique where rice seeds are sown directly into dry soil rather than transplanting seedlings into flooded fields, as seen in traditional flooded rice cultivation. This method typically requires less water because flooding is not necessary during the initial stages of growth, unlike in flooded rice cultivation. By avoiding continuous flooding, DSR also reduces methane emissions and water pollution associated with traditional rice cultivation methods. Therefore, only statement 2 is correct.

• Context: The 1 Million Youth Actions Challenge (1MYAC) by the UN Climate Change Learning Partnership (UN CC:Learn) aims to mobilize youth aged 10 to 30 to take concrete actions for a sustainable future, with a goal of reaching 1,000,000 youth actions.
  • It focuses on promoting four Sustainable Development Goals (SDGs): clean water and sanitation, responsible consumption and production, climate action, and life on land.
  • 1MYAC was founded by the Swiss Agency for Development and Cooperation (SDC) and the R éSEAU.
• The One UN Climate Change Learning Partnership (UN CC:Learn) is a collaborative initiative of more than 30 multilateral organizations that support countries in designing and implementing climate change. UN CC:Learn offers information on climate change and free online courses.

• Context: Addressing energy inefficiency in residential buildings is crucial, with initiatives like Eco-Niwas Samhita (ENS) introducing the Residential Envelope Transmittance Value (RETV) to measure heat transfer.
• What is RETV?
  • The Residential Envelope Transmittance Value (RETV) is a metric used to measure heat transfer through a building ’s envelope. It indicates the thermal efficiency of a building, with lower RETV values corresponding to cooler indoor environments and decreased energy usage.

• S1 is incorrect: Interest rates generally rise with increasing inflation to compensate lenders for the diminishing value of money over time.
• S2 is incorrect: Lower interest rates typically encourage borrowing and spending by making it cheaper to finance purchases, while they discourage saving by offering lower returns on savings accounts and investments.
• S3 is correct. Central banks, such as the Federal Reserve in the United States, use monetary policy tools, including adjusting interest rates, to influence the money supply in the economy. By raising or lowering interest rates, central banks can influence borrowing, spending, and investment, which in turn affects economic activity and inflation.
• S4 is incorrect: Rising interest rates usually have a dampening effect on the housing market as higher mortgage rates make it more expensive for individuals to borrow money for home purchases, potentially reducing demand for homes and slowing down housing market activity.

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• Context: India is deploying atomic clocks nationwide to synchronize all digital devices with Indian Standard Time, enhancing uniformity and national security.
• Cesium atomic clocks are widely used because cesium atoms have a particularly stable atomic structure, making them reliable for timekeeping purposes.

• Context: India is deploying atomic clocks nationwide to synchronize all digital devices with Indian Standard Time, enhancing uniformity and national security.
• Atomic frequency standard refers to the process of using the frequency of atomic oscillations, typically of cesium or other suitable atoms, to define the standard unit of time, the second.

• Tripura: Pachra-Rignai, Matabari Peda
• Meghalaya: Garo Textile Weaving , Lyrnai Pottery, Chubitchi

• Context: India is deploying atomic clocks nationwide to synchronize all digital devices with Indian Standard Time, enhancing uniformity and national security.
• Atomic clocks maintain accuracy by counting the regular oscillations or vibrations of atoms. This method provides extremely precise timekeeping.

• Statements 1 and 2 are correct.
• Swell surge forecast system is an innovative system designed for the prediction of Kallakkadal/Swell Surge that occurs along the Indian coast, particularly the west coast. Kallakadal/Swell surge are flash-flood events that take place without any noticeable advance change in local winds or any other apparent signature in the coastal environment. Hence the local population remains totally unaware of these flooding events until they actually occur. Such events are intermittent throughout the year.
• Kallakkadal is a colloquial term used by Kerala fishermen to refer to the freaky flooding episodes and in 2012 UNESCO formally accepted this term for scientific use. During Kallakkadal events, the sea surges into the land and inundated vast areas. These events have attracted attention especially after the 2004 Tsunami in the Indian Ocean, since most people mistake Kallakkadal to be Tsunamis. Tsunami and Kallakkadal/Swell surge are two different types of waves with entirely separate causes or mechanisms. Kallakkadal are caused by meteorological conditions in the Southern Ocean, south of 30 °S. A study by INCOIS scientists has revealed that specific meteorological conditions in the Southern Indian Ocean support the generation of long period swells. These swells once generated, travel northward and reach the Indian coasts in 3-5 days time, creating havoc in the coastal areas. The system will now predict Kallakkadal and warnings will be given to concerned authorities at least 2-3 days in advance, which will help the local authorities for contingency plans and to reduce damage.

Earth rotates once in about 24 hours with respect to the Sun, but once every 23 hours, 56 minutes and 4 seconds with respect to other distant stars (see below). Earth ’s rotation is slowing slightly with time; thus, a day was shorter in the past. This is due to the tidal effects the Moon has on Earth ’s rotation.

• Context: The indigenous knowledge of the Konda Reddi tribe regarding the Indian laurel tree ’s water-storing ability has been confirmed by forest officials in the Papikonda National Park.
• Forest authorities conducted an experiment by cutting the bark of the Indian laurel tree, revealing water splashing out, particularly in the summer, as claimed by the tribe.
• Indian Laurel Tree known as Indian Silver Oak and valued for its timber commercially.

• Context: A recent study suggests that the accelerated melting of glaciers and ice sheets in Greenland and Antarctica due to climate change is affecting Earth ’s rotation, potentially postponing the need for a “negative leap second ”to keep clocks aligned with Coordinated Universal Time (UTC).
• Option 1 is Incorrect: Earth makes one complete rotation on its axis every 23 hours and 56 minutes, which is rounded up to 24 hours.
• Option 2 is Incorrect: Earth rotates counterclockwise when viewed from above the North Pole, not when viewed from the North Pole itself.
• Option 3 is correct: Earth ’s rotation speed is indeed faster at the equator compared to the poles due to the larger circumference of the equator, resulting in a greater distance traveled in the same amount of time.
• Option 4 is Incorrect: Earth ’s rotation axis is tilted at an angle of approximately 23.5 degrees relative to its orbital plane around the Sun, not perpendicular.

• The National Information System for Climate and Environment Studies (NICES) program was conceptualized in 2012 and is operated by the Indian Space Research Organisation (ISRO) and the Department of Space, along with other ministries, under the framework of the National Action Plan on Climate Change.
• Its primary objective is to generate and disseminate long-term Essential Climate Variables (ECVs) derived from Indian and other Earth observation satellites, which are essential for understanding Earth ’s climate.

• Context: The 125th anniversary of Kodaikanal Solar Observatory (KSO) was celebrated recently on April 1, 2024, by the Indian Institute of Astrophysics (IIA)
• Significant achievements of KoSO
  • Identified the Evershed Effect (a phenomenon observed in sunspots where gas flows radially outward from the centre of the sunspot)
  • Expanded research scope to cosmic rays, radio astronomy, ionospheric physics, and stellar physics
• The Evershed Effect refers to the radial flow of gas across the solar surface in sunspots. As sunspots are areas of intense magnetic activity on the Sun ’s surface, the magnetic fields cause gases to flow radially outward from the center of the sunspot. This effect was discovered by the English astronomer John Evershed in the early 20th century. Options A, B, and C describe other astronomical phenomena but do not accurately represent the Evershed Effect.

• Context: The 125th anniversary of Kodaikanal Solar Observatory (KSO) was celebrated recently on April 1, 2024, by the Indian Institute of Astrophysics (IIA)
• Instruments at KoSO:
  • Initially focused on sunspots, prominences, and solar radiation. Advanced instruments include the H-alpha telescope and the White Light Active Region Monitor (WARM)
• Option A is incorrect because the White Light Active Region Monitor (WARM) is not used for studying cosmic microwave background radiation; instead, it is focused on solar observations.
• Option B is incorrect because WARM does not utilize ultraviolet light for monitoring solar activity. Instead, it primarily relies on white light observations.
• Option C is incorrect because WARM is not a space-based telescope for observing distant galaxies. Its focus is on studying solar active regions.
• Option D is the correct answer because it accurately describes the purpose and function of the White Light Active Region Monitor (WARM). WARM is specifically deployed to track and study solar active regions using white light observations, providing valuable insights into solar activity and phenomena such as sunspots and solar flares.

• Context: The Prime Minister addressed the opening ceremony of RBI@90 in Mumbai, marking 90 years of the Reserve Bank of India (RBI).
• Monetary Authority:
  • Formulates, implements and monitors the monetary policy.
  • Objective: maintaining price stability while keeping in mind the objective of growth.
• Regulator and supervisor of the financial system:
  • Prescribes broad parameters of banking operations within which the country ’s banking and financial system functions.
  • Objective: maintain public confidence in the system, protect depositors ’interest and provide cost-effective banking services to the public.
• Manager of Foreign Exchange
  • Manages the Foreign Exchange Management Act, 1999.
  • Objective: to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.
• Issuer of currency:
  • Issues, exchanges and destroys currency notes as well as puts into circulation coins minted by Government of India.
  • Objective: to give the public adequate quantity of supplies of currency notes and coins and in good quality.
• Developmental role
  • Performs a wide range of promotional functions to support national objectives.
• Regulator and Supervisor of Payment and Settlement Systems:
  • Introduces and upgrades safe and efficient modes of payment systems in the country to meet the requirements of the public at large.
  • Objective: maintain public confidence in payment and settlement system
• Related Functions
  • Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.
  • Banker to banks: maintains banking accounts of all scheduled banks.

Option B is correct because cosmic rays, which are energetic particles originating from outer space, are indeed affected by Earth ’s magnetic field. As they enter Earth ’s atmosphere, they can be deflected or redirected by the magnetic field lines, influencing their paths and interactions with particles in the atmosphere. Options A, C, and D are incorrect as cosmic rays consist of various particles such as protons, electrons, and atomic nuclei (not solely photons), they can travel at speeds approaching the speed of light, and they originate from various sources beyond our solar system, including distant galaxies, supernovae, and other astrophysical phenomena.

• The BIMSTEC Charter aims to enhance collaboration among member countries, including Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand, in areas such as economic prosperity, social progress, and connectivity.
• BIMSTEC, established in 1997, seeks to foster cooperation and development in the region.
• Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka, Bangladesh.

• Context: The World Bank (as per “Jobs for Resilience, South Asia Development Update ”) warned that South Asia, including India, is not utilizing its demographic dividend effectively.
• What is a Demographic Dividend?
  • The demographic dividend refers to the economic growth potential that arises from changes in a population ’s age structure.
  • It occurs when the proportion of working-age individuals (15-64) in a population is larger than the dependent population (children and elderly), leading to increased productivity and economic growth.
  • India is expected to enjoy this window for 37 years starting in 2018 and up to 2055

• Context: The Punnett square, named after British geneticist Reginald Punnett, is a grid used to predict the possible genetic outcomes of offspring when two individuals with known genotypes are crossed.
  • It consists of a simple grid with squares representing possible combinations of traits inherited from each parent.
  • This tool helps visualize the probabilities of different traits appearing in offspring and is commonly used in biology to understand inheritance patterns, such as dominant and recessive genes.
  • Researchers utilize Punnett squares alongside Mendelian inheritance principles to study genetic traits in offspring, including those of animals and humans.
• The letters in the boxes of a punnet ’s square represent a particular genotype, with each alphabet representing an allele, contrasting forms of a gene.