2nd January 2025 current affairs

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We at Edusprint Academy are committed to bringing you the most relevant and updated 2nd January 2025 current affairs current affairs 2024, curated from trusted and official sources. These updates are designed to keep you ahead in your exam preparation journey.

Our comprehensive Current Affairs 2nd January 2025 coverage aims to enhance your knowledge and boost your scores in Banking, Insurance, SSC, Railways, UPSC, and all State Government Exams. Explore our Current Affairs tailored to simplify your exam preparation

National news

India’s first glass bridge over sea inaugurated in Kanyakumari

Tamil Nadu Chief Minister M K Stalin inaugurated India’s first glass bridge over the sea in  Kanyakumari on 31st December 2024. The glass bridge connects the Vivekananda Rock Memorial and the 133-foot Thiruvalluvar statue in the Kanyakumari district.

Location: Connects Vivekananda Rock Memorial and Thiruvalluvar Statue.

Specifications:

• Length: 77 meters
• Width: 10 meters
• Height: 133 feet

Purpose: Offers an alternative to ferries for tourists; boosts tourism.

Cost: ₹37 crore.

Significance: Marks the Silver Jubilee of Thiruvalluvar Statue’s unveiling.

Longest Glass Bridge in India

Location: Vagamon, Idukki district, Kerala.

Specifications:

• Length: 40 meters
• Altitude: 3600 feet.
• Longest Glass Bridge in the World
• Location: Zhangjiajie, Hunan province, China.

Specifications:

• Length: 430 meters
• Width: 6 meters
• Height: 300 meters above the ground.

Thirukkural Week Announcement: CM Stalin declared the last week of December as “Thirukkural Week” to promote poet Thiruvalluvar’s teachings.

India’s greenhouse gas emissions drop 7.93% in 2020, GDP emission intensity down by 36% since 2005

India’s efforts to mitigate greenhouse gas emissions have borne fruit, as the country’s emissions fell by 7.93 per cent in 2020 compared to the previous year. Data submitted to the UN climate change office reveals a decline in the emission intensity of India’s GDP by 36 per cent from 2005 to 2020.

Key Achievements

Emission Reduction in 2020:

• A 7.93% decline in emissions compared to 2019.
• Total emissions in 2020: 2,959 million tonnes of CO2 equivalent (excluding land use change).

Emission Intensity Decline:

• Reduction of 36% in GDP emission intensity from 2005 to 2020.
• On track to achieve a 45% reduction by 2030.

Non-Fossil Fuel Capacity Goal: Aiming for 50% of electric power capacity from non-fossil fuels by 2030.

Challenges

• Emissions increased by 98.34% since 1994.
• Energy production, agriculture, and industry remain major emission sources.

Global Reporting: India submitted its fourth Biennial Update Report (BUR-4) to the UNFCCC.

Outlook: India is successfully decoupling economic growth from emissions, maintaining its development while meeting climate commitments.

Groundwater recharge up by 15 billion cubic meters:Jal Shakti Ministry

• The Groundwater recharge in the country has increased by 15 billion cubic meters and the groundwater extraction has declined by 3 billion cubic meters from the 2017 to 2024 period.
• The latest status of the groundwater recharge in the country ending 31st December 2024 was released by the Union Ministry of Jal Shakti in its Dynamic Ground Water Resource Assessment Report 2024.
• The groundwater assessment was carried out by the Central Ground Water Board(CGWB), under the Union Jal Shakti ministry, in collaboration with the States and Union Territories.

Key Findings from the Report:

• Total Groundwater Recharge: The total annual groundwater recharge in India stands at 446.90 billion cubic meters (BCM).
• Annual Extractable Groundwater Resource: The extractable groundwater resource annually is 406.19 BCM.
• Annual Groundwater Extraction: The annual groundwater extraction for all purposes is 245.64 BCM.
• Stage of Groundwater Extraction: The average stage of groundwater extraction in India is 60.47%.
• Trends in Recharge from Tanks, Ponds, and Water Conservation Structures: There has been a consistent increase in groundwater recharge from tanks, ponds, and water conservation structures.
• From 2017 to 2024, the recharge from these sources increased by 11.36 BCM (from 13.98 BCM in 2017 to 25.34 BCM in 2024).
• Compared to 2023, there was an increase of 0.39 BCM in 2024.

Percentage of Safe Assessment Units:

• The percentage of assessment units (blocks, mandals, talukas) under the Safe category increased from 62.6% in 2017 to 73.4% in 2024 (up from 73.14% in 2023).
• Percentage of Over-Exploited Assessment Units: The percentage of over-exploited units decreased from 17.24% in 2017 to 11.13% in 2024 (down from 11.23% in 2023).
• Overall Groundwater Trends: Groundwater recharge has increased by 15 billion cubic meters, while groundwater extraction has decreased by 3 billion cubic meters from 2017 to 2024.

What is Groundwater Recharge?

Groundwater Recharge is the process by which water replenishes the underground water table. This can occur naturally through rainfall, snowmelt, or through artificial methods like rainwater harvesting. If recharge rates are lower than extraction rates, it can lead to a drop in the water table, potentially causing a water crisis.

The findings indicate that the efforts to increase groundwater recharge, such as promoting rainwater harvesting and improving water conservation infrastructure, have had positive results. However, continued attention to sustainable water management is essential to maintaining these gains.

Swiggy Partners with NSE to Empower Delivery Partners with Financial Literacy

On December , 2024, Swiggy Limited, an Indian online food delivery and e-commerce platform headquartered in Bengaluru, Karnataka, signed a Memorandum of Understanding (MOU) with the National Stock Exchange of India Limited (NSE) to launch a financial literacy program for Swiggy’s delivery partners. This program focuses on empowering women in the workforce.

Key Highlights:

• Targeting Women Empowerment: Swiggy aims to have 1 lakh women delivery partners by 2030, offering them financial training led by trainers certified by the Securities and Exchange Board of India (SEBI).
• Part of Broader Initiatives: The financial literacy program is a part of Swiggy’s larger efforts, including initiatives like “She the Change” and “Swiggy Skills”, aimed at promoting workforce empowerment and financial inclusion.
• Event Guest: Amruta Fadnavis, Vice-President of Axis Bank and wife of Maharashtra Chief Minister Devendra Fadnavis, was the Chief Guest at the event.

About Swiggy:

• Founded: 2014
• MD & CEO: [Name not specified in the provided text]
• Headquarters: Bengaluru, Karnataka

Economy news

Interest rates remain unchanged on National Small Saving Schemes

The National Small Savings Schemes are government-backed financial schemes offered to the public through post offices and certain banks. They offer secure investment options and attractive interest rates, with deposits guaranteed by the Government of India. The interest rates on these schemes are reviewed quarterly by the Ministry of Finance.

Categories of Schemes

The National Small Savings Schemes are divided into three categories:

• Post Office Deposits
• Savings Certificates
• Social Security Schemes
• Post Office Deposits & Interest Rates

Savings Accounts

• Minimum opening: ₹500 (no maximum limit)
• Interest rate: 4% per annum
• This is the only savings account not regulated by the RBI.

Recurring Deposit

• Minimum opening: ₹100, and ₹10 per month
• No maximum limit
• Interest rate: 6.7% per annum
• Maturity period: 5 years

Time Deposit Accounts

Maturity: 1 to 5 years (interest rate varies from 6.9% to 7.5% depending on the duration)

Minimum opening: ₹1000 (no maximum limit)

Principal and interest are paid at maturity

National Monthly Income Account

• Duration: 5 years
• Interest rate: 7.4% per annum (paid monthly)
• Minimum opening: ₹1000
• Maximum limit: ₹9 lakhs for single accounts, ₹15 lakhs for joint accounts

National Citizen Savings Scheme

• For persons above 60 years of age
• Minimum opening: ₹1000, Maximum: ₹30 lakhs
• Interest rate: 8.2% per annum (paid quarterly)
• Duration: 5 years

Sukanya Samridhi Yojana

For girls below 10 years of age

• Interest rate: 8.2% per annum
• Minimum opening: ₹250, Maximum: ₹1.5 lakhs per year
• Duration: 15 years, with closure after 21 years or upon marriage after 18 years of age

Use of Deposits: The funds collected from these savings schemes are pooled into the National Small Savings Fund (NSSF), which is used by the government to meet its fiscal deficit.

Banking news

YES Bank Launches ‘YES PowherUp’ Programme to Empower Women Entrepreneurs

In December 2024, YES Bank, India’s 6th largest private sector bank, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) Ladies Organisation (FLO), launched ‘YES PowherUp’. This specialized MSME programme is designed to empower women entrepreneurs and support the growth of their businesses.

Key Features of ‘YES PowherUp’:

• SME Loans: Offers funding solutions with a 50% processing fee waiver for FICCI FLO members.
• YES First Business Account: Premium business accounts offering exclusive benefits for women entrepreneurs.
• Trade & Forex Solutions: Provides access to international markets with specialized trade and forex services.
• Investment Solutions: Enables beneficiaries to trade up to Rs 1.5 crore at zero brokerage for 60 days via YES Securities.
• Card Solutions: Business credit cards with low foreign currency markups for domestic and international use.
• Insurance Plans: Tailored insurance plans for asset protection, cancer coverage, and discounted term plans.

About YES Bank:

• MD & CEO: Prashant Kumar
• Headquarters: Mumbai, Maharashtra
• Established: 2004
• Tagline: “Experience our expertise”

About FICCI Ladies Organisation (FICCI FLO):

• President: Joyshree Das Verma
• Headquarters: New Delhi, Delhi
• Established: 1983

Scheme news

Govt launches ONOS to provide seamless access to digital knowledge resources

The Government has launched the “One Nation, One Subscription” scheme starting today. This initiative aims to provide seamless access to a wide range of digital knowledge resources, including research papers, journals, and academic content, under a single subscription platform.

Key Features

Access for Government Institutions:

• 1.8 crore students from government-funded higher education institutions, including universities and IITs.
• Covers 13,400+ international journals in fields like science, technology, engineering, medicine, social sciences, and humanities.

Phased Expansion: Future phases to extend access to private educational institutions and eventually all individuals in the country.

Budget Allocation:

• ₹6,000 crore for three years.
• ₹150 crore/year for authors to publish in selected Open Access journals.

Administration: Centrally negotiated and funded through a National Consortium for electronic journal subscriptions.

Benefits

• Eliminates multiple subscription barriers.
• Ensures equitable access to global research resources.
• Promotes high-quality research and academic publication in India.

Defence news

Defence Ministry declares 2025 as ‘Year of Reforms’ to enhance combat readiness and Technological Advancements

The Ministry of Defence has declared 2025 as the Year of Reforms in order to give impetus to the on-going and future reforms in the Defence Sector.

On the eve of the New Year, Defence Minister Rajnath Singh chaired a crucial meeting with all Secretaries of the Ministry of Defence to review the progress on various key schemes, projects, and reforms.

Overview

• Objective: Accelerate ongoing and future reforms in the defence sector.
• Launch: Defence Minister Rajnath Singh chaired a review meeting with Ministry Secretaries.
• Vision: Transform the Armed Forces into a technologically advanced, combat-ready force for multi-domain integrated operations.

Key Focus Areas

Defence Modernisation:

• Adoption of technologies like Artificial Intelligence, drones, and cyber warfare.
• Enhancing defence manufacturing and infrastructure.
• Improving procurement processes.

Synergy and Integration:

• Foster cohesion between various branches of the Armed Forces.
• Strengthen public-private partnerships through technology transfer and ease of doing business.

Global Competitiveness:

• Position India as a credible exporter of defence products.
• Promote Research and Development (R&D) in defence technologies.

Welfare Measures: Optimisation of support systems for veterans.

Expected Outcomes

• Enhanced operational efficiency and preparedness.
• A robust, self-reliant defence ecosystem.
• Strengthened national security with cutting-edge technologies.

Enhancing India’s Naval Capabilities: MoD Signs Contracts for AIP and Torpedo Integration

On December 30, 2024, the Ministry of Defence (MoD) signed two major contracts worth Rs 2,867 crore to enhance the operational capabilities of India’s naval assets:

AIP Plug Construction and Integration:

• Value: Rs 1,990 crore.
• Contractor: Mazagon Dock Shipbuilders Limited (MDL), Mumbai.
• Objective: To construct and integrate the Air Independent Propulsion (AIP) Plug for the DRDO-AIP system on Indian submarines. The AIP technology, developed by DRDO’s Naval Materials Research Laboratory (NMRL), will enhance the endurance of conventional submarines by allowing them to stay submerged longer without requiring atmospheric oxygen.

Integration of Electronic Heavy Weight Torpedo (EHWT) on Kalvari-Class Submarines:

This contract will integrate EHWT onto Kalvari-class (Scorpene) submarines, enhancing their firepower.

• Kalvari-Class Submarines: Diesel-electric attack submarines built at MDL with technology transfer from the Naval Group. Capable of conducting a variety of missions, including anti-surface warfare, anti-submarine warfare, long-range strikes, special operations, and intelligence gathering.
• Key Organizations Involved: Naval Group: CEO Pierre-Eric Pommellet; Founded in 1631; Headquarters in Paris, France.
• Mazagon Dock Shipbuilders Limited (MDL): Chairman & Managing Director Sanjeev Singhal; Established in 1934; Headquarters in Mumbai, Maharashtra.

Science and tech news

India’s Space Economy will grow 5 times from $8.4 billion to $44 Billion by 2033: Dr. Jitendra Singh

India’s space economy is set to grow nearly five times in the next decade, from $8.4 billion to around $44 billion.

Investments: In 2023, investments in India’s space sector reached ₹1,000 crore.

Global Leadership in Space

• Space Biology: Under Prime Minister Narendra Modi’s leadership, India aims to lead in space biology.
• Foreign Exchange Earnings: India’s space sector has become a significant foreign exchange earner, with 85% of the €220 million earned through launching foreign satellites in the past 8 years.

Space Docking Experiment (SPADEX)

Achievement: ISRO’s Space Docking Experiment (SPADEX) places India alongside global leaders in space docking technology.

Significance:

• Aims to develop and demonstrate spacecraft rendezvous, docking, and undocking technologies.
• Key for future missions, including satellite servicing, space station operations, and interplanetary exploration.

Future Application: The docking system will be used in the Gaganyaan mission and India’s Space Station program.

Conclusion: India’s space sector is rapidly advancing, with significant investments and breakthroughs, positioning the country as a major global player in space technology.

Appointment news

Cherukumalli Srinivasa Rao Appointed as Director of IARI

In December 2024, Cherukumalli Srinivasa Rao, an agricultural scientist from Andhra Pradesh, was appointed as the Director of the Indian Agricultural Research Institute (IARI), New Delhi. He succeeded Dr. A.K. Singh, who retired in June 2024.

About Indian Agricultural Research Institute (IARI):

• Founded: 1905 in Pusa, Bihar; relocated to New Delhi in 1936.
• Renaming: The institute was renamed multiple times, becoming the Indian Agricultural Research Institute (IARI) after India’s independence.
• Administered by: Indian Council of Agricultural Research (ICAR).
• Chairman of ICAR: Ashok Kumar Singh
• Headquarters: New Delhi, Delhi
• IARI is one of India’s premier agricultural research institutes, playing a key role in agricultural research and development.

Air Marshal Jeetendra Mishra Takes Charge As Chief of IAF’s Western Command

Air Marshal Jeetendra Mishra today assumed command of the Indian Air Force’s Western Air Command. He was Commissioned into the Indian Air Force as a fighter pilot in December 1986. In his 38 years of service, the Air Marshal has tenanted important command and staff appointments.

Career Overview of Air Marshal Jeetendra Mishra

• Commissioning: Joined the Indian Air Force in December 1986 as a fighter pilot.
• Service Tenure: 38 years of distinguished service.
• Key Roles: Held several critical command and staff positions throughout his career.

Books and author news

HM Amit Shah to preside over book release event for ‘Jammu Kashmir and Ladakh: Through the Ages’

Union Home Minister Amit Shah will preside over a book release function in New Delhi today as the Chief Guest. Union Education Minister, Dharmendra Pradhan will be the Guest of Honour. Eminent authors, academicians, officials of the Ministry and other dignitaries will also be present at the event.

Event Details

• Occasion: Book release function in New Delhi.
• Chief Guest: Union Home Minister Amit Shah.
• Guest of Honour: Union Education Minister Dharmendra Pradhan.
• Attendees: Eminent authors, academicians, Ministry officials, and dignitaries.

About the Book: Title: Jammu Kashmir and Ladakh: Through the Ages.

Content:

• Covers over 3,000 years of the region’s history.
• Divided into seven sections presenting a comprehensive narrative.

Languages: Published in Hindi and English.

Collaboration: Joint effort by:

• National Book Trust, India.
• Indian Council of Historical Research (ICHR).

Sports news

33rd Santosh Trophy title for Bengal as they beat Kerala in the final

The most successful team in the history of the Santosh Trophy, West Bengal added one more to its collection by defeating Kerala in the final of the 78th edition of the Santosh Trophy. It was the 33rd Santosh Trophy for the Bengal team.

The final of the 78th edition of the Santosh Trophy 2024-25 was played at the GMC Balayogi Stadium in Hyderabad, Telangana on 31st December 2024.

Match Summary:

The 78th edition of the Santosh Trophy ended in a dramatic final where West Bengal defeated Kerala 1-0 after extra time. Both teams were locked at 0-0 at the end of regulation time. However, in the 4th minute of extra time, Robi Hansda scored the only goal of the match, securing West Bengal’s 33rd Santosh Trophy victory.

Award Winners:

• Winners: West Bengal
• Prize: Rs 5 Lakhs
• Runners-Up: Kerala
• Prize: Kamla Gupta Trophy and Rs 3 Lakhs
• Peter Thangaraj Player of the Championship:Robi Hansda (West Bengal)
• Tulsidas Balaram Player of the Final:Robi Hansda (West Bengal)

Tournament Details:

• The 78th Santosh Trophy was held from 14th to 31st December 2024, hosted by the Telangana Football Association in Hyderabad.
• 31 teams participated, with the group stage held across various parts of the country.
• The top four teams from each group qualified for the quarterfinals.

Groupings in Final Round:

• Group A: West Bengal, Manipur, Services, Jammu & Kashmir, Telangana, Rajasthan
• Group B: Goa, Delhi, Tamil Nadu, Kerala, Meghalaya, Odisha

Semifinal Results:

• West Bengal defeated Services 4-2
• Kerala defeated Manipur 5-1

About the Santosh Trophy:

• The Santosh Trophy is a premier state-level football tournament for men in India, organized by the All India Football Federation (AIFF).
• The tournament was inaugurated in 1941, and its first edition was won by West Bengal.
• West Bengal is the most successful team in the history of the tournament, with 33 titles.
• Other top teams include Punjab (8 titles), and Kerala and Services, who share the third spot with 7 titles each.

Volodar Murzin & India’s Koneru Humpy Won 2024 FIDE World Rapid C’ship

Koneru Humpy of India and the Russian Volodar Murzin respectively won the women’s and Open titles at the 2024 FIDE World Rapid Championships. It was the second  FIDE World Rapid Championship for Humpy while the Russian Volodar Muzrin became the second-youngest player to win the Championship in the Open section.

• The 2024 FIDE  World  Rapid Championship was held in New York City, the United States of America 26-29 December 2024.
• The 2024 FIDE  World  Blitz Championship will be held at the same venue on 30 and 31 December 2024.

Women’s Title – Koneru Humpy:

• Champion: Koneru Humpy (India)
• Score: 8.5/11 rounds
• Second World Rapid Title: This victory marks Koneru Humpy’s second World Rapid Championship title, following her first win in 2019 in Moscow, Russia.
• Despite losing her first game, Humpy emerged victorious in the final round, defeating Indonesian International Master Irine Kharisma Sukandar, securing her spot atop the leaderboard.

Dronavalli Harika finished 5th with 8 points.

Open Title – Volodar Murzin:

Champion: Volodar Murzin (Russia)

Score: 10/11 rounds

• Maiden Title: The 18-year-old Russian player claimed his first World Rapid Championship by defeating Armenian GM Karen Grigoryan in the final round.
• Murzin becomes the second-youngest player to win the World Rapid title, after Nodirbek Abdusattorov (Uzbekistan) won it in 2021 at 17.
• Arjun Erigaisi (India) finished in 5th position with 9 points.

Key Highlights:

• Grischuk and Nepomniachtchi shared second place in the Open section with 9.5 points.
• Russia, despite being banned by FIDE from official competition, had players participate under the FIDE banner due to the ongoing political situation.

FIDE World Championships:

• FIDE organizes three World Chess Championships annually in Classical, Rapid, and Blitz formats.
• FIDE first organized the Open section of the World Rapid and Blitz Championship in 2013 in Khanty-Mansiysk, Russia.
• The Women’s section began in 2012 in Batumi, Georgia.

Indian Chess Achievements:

• Viswanathan Anand won the 2017 World Rapid Title (Open section) in Riyadh, Saudi Arabia.
• Koneru Humpy has now won the World Rapid title twice (2019, 2024).
• India has not yet won a title in the Blitz format.

About FIDE:

FIDE (International Chess Federation) is the global governing body for chess, overseeing worldwide competition.

• Headquarters: Lausanne, Switzerland
• President: Arkady Dvorkovich (Russia)
• Members: 201 national chess federations.

World Boxing Adds Asia as Newest Member, India Takes Key Roles

In December 2024, World Boxing (formerly known as the Association Internationale de Boxe Amateur, AIBA) welcomed Asia as a new member by forming a new Asian Confederation. This move aims to enhance the development, representation, and promotion of boxing across Asia. The decision followed a vote by the Asian Boxing Confederation (ASBC) members during the Congress held in Bangkok, Thailand, to remain part of the International Boxing Association (IBA).

India’s Prominent Role in the Expansion: India emerged as a key player in this strategic expansion, with several key appointments within the new interim Asian Boxing body.

Key Appointments and Their Roles:

• Ajay Singh (President of the Boxing Federation of India, BFI) was appointed as a board member of the new Asian Boxing Confederation.
• Hemanta Kumar Kalita (Secretary General of BFI) was included in the Olympic Commission.
• Digvijay Singh (Treasurer of BFI) was appointed to the Finance and Audit Committee, where he will ensure fiscal oversight and accountability.
• Narender Kumar Nirwan (Vice President of BFI, North Zone) will serve on the Constitution Commission, helping to shape the governance structure of the new confederation.
• India’s growing prominence in international boxing is reflected in these pivotal roles, signaling a significant step in strengthening boxing’s presence and influence in Asia.

Key Appointments and Roles:

• DP Bhatt (Chairman of the Boxing Federation of India’s Disciplinary & Disputes Commission) will join the Sports and Competition Commission.
• Dr. Karanjeet Singh will represent India on the newly formed Medical Commission, contributing to the health and well-being of athletes.
• Lovlina Borgohain (Tokyo 2020 Olympic bronze medalist) has been appointed to the Athlete Commission. As one of three members, she will advocate for enhanced training facilities, equal opportunities, and robust support systems for boxers across Asia to help them excel on the global stage.

Lovlina Borgohain’s achievements include a bronze medal at the Tokyo 2020 Olympics and a gold medal at the 2022 Commonwealth Games.

Upcoming Events in India: India is set to host two major boxing events:

World Boxing Cup Final 2025 and World Boxing Congress 2025 in New Delhi, scheduled for November 2025. These events will position India as a central hub for global boxing development and increase its prominence in the sport.

About World Boxing:

• President: Boris van der Vorst
• Headquarters: Renens, Switzerland
• Founded: 2023