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Daily Current Affairs 7th February 2025 Daily GK Update
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Budget 2025: At a Glance
Budget 2025-26: 10,000 New Fellowships Under PMRF Scheme
- The Prime Minister’s Research Fellowship (PMRF) scheme, aimed at supporting talented students pursuing doctoral research in India, has received a major boost in Budget 2025.
- FM Nirmala Sitharaman has announced that 10,000 new fellowships will be awarded over the next five years.
What Is PMRF Scheme?
- Launched in Budget 2018-19, the PMRF scheme provides direct admission to PhD programmes in IITs, IISc, and IISERs, along with attractive financial support.
Fellowship Amount Under PMRF
- Selected scholars receive a monthly stipend ranging from Rs 70,000 to Rs 80,000, along with a research grant of Rs 2 lakh per year (up to Rs 10 lakh for five years). The year-wise fellowship structure is as follows:
- First Year – Rs 70,000 per month
- Second Year – Rs 70,000 per month
- Third Year – Rs 75,000 per month
- Fourth Year – Rs 80,000 per month
- Fifth Year – Rs 80,000 per month
Expanded Eligibility And Additional Benefits
- Recently, the PMRF scheme was expanded to include eligible students from all recognised institutions and universities in India. Additionally, students pursuing MTech in AICTE-approved and centrally funded technical institutions (CFTIs) receive a monthly stipend of Rs 12,400.
Budget 2025-26: Centre to set up 2nd gene bank with 10 lakh germplasm lines
- The government will set up a second Gene Bank with 10 lakh germplasm lines to conserve genetic resources and secure food and nutritional security. This aims to provide conservation support to the public and commercial sectors for genetic resources and to secure future food and nutritional security.
- A gene bank preserves and stores genetic material, including seeds, tissues and DNA samples from various plant and animal species. . Established in 1972, the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) Genebank is a well-known institution committed to the preservation and conservation of crop genetic resources.
- ICRISAT Genebank is a key institution protecting the genetic diversity of 11 vital crops, including various types of millet, chickpea, pigeon pea, and groundnut. It operates globally with facilities in India, Zimbabwe, Niger, and Kenya.
- In 2019, the ICRISAT set up the world’s first gene bank in Hyderabad that is powered entirely by solar energy.
Budget 2025-26: New ‘Gyan Bharatam Mission’ for manuscripts announced
- The Union Budget 2025-26 announced a special mission for the survey, documentation, and conservation of India’s manuscript heritage. Launched as the ‘Gyan Bharatam Mission’, it intends to cover more than one crore manuscripts.
- The ‘Gyan Bharatam Mission’ is for undertaking the “survey, documentation and conservation” of India’s manuscript heritage lying with academic institutions, museums, libraries, and private collectors.
- To accommodate this new initiative, the budget allocation for the National Manuscripts Mission (NMM), whose aim is to identify and document manuscripts and make the manuscript heritage accessible across the country, has been hiked from ₹5 crore to ₹60 crore.
- The overall allocation for the Culture Ministry has been increased by approximately ₹100 crore with a total outlay of ₹3,360.96 crore as against the revised estimate of ₹3,260.93 crore in the current fiscal.
- Out of this, the Archaeological Survey of India (ASI) has been allocated ₹1,278.49 crore against ₹91 crore allocated in 2024-25 which was revised to ₹1191.99 crore.
- A total of ₹55 crore has been allocated for national libraries and archives, ensuring the maintenance of historical records and documents, while museums such as the National Museum and the National Gallery of Modern Art will receive ₹126.63 crore to enhance cultural preservation efforts.
Budget 2025: Rs 20,000 cr allocated for Research, Development and Innovation
- In a quest to boost private sector research and development in India, the Union Budget has allocated ₹20,000 crore to the Ministry of Science and Technology (MoST) for “research, development and innovation”.
- Typically, the Ministry’s annual budget has averaged around ₹6,000 crore to ₹8,000 crore.
Budget 2025-26: National Geospatial Mission announced to modernise land records
- Finance Minister Nirmala Sitharaman announced the launch of a National Geospatial Mission in the Budget 2025-26.
- The mission will be aimed at modernising land records and enhancing urban planning across India. This initiative will leverage the existing PM Gati Shakti framework to develop foundational geospatial infrastructure and data, facilitating improved design and execution of infrastructure projects.
- Geospatial refers to data or information that is associated with a specific location on the Earth’s surface. The National Geospatial Mission is expected to significantly impact various sectors, particularly in urban development and land management
National News
Zepto world’s second-most-downloaded app in food and drink category
- Zepto, the Indian quick commerce startup, last year became the world’s second most downloaded mobile app on mobiles in the foods and drinks category, according to data Sensor Tower released.
- McDonald’s, the US fast food chain, was the most downloaded. Zepto’s rival Blinkit was the tenth most downloaded app in the category.
- Other Indian companies in the category were food and grocery delivery companies Zomato at number five and its competitor Swiggy at number nine.
- The category also included fast food and fast casual restaurants, restaurant order and delivery, other food delivery services, dining and listing, reviews and reservations and dining and restaurant apps.
Jayant Chaudhary inaugurates NSDC International Academy at Greater Noida
- Jayant Chaudhary, Minister of State (I/C), Ministry of Skill Development and Entrepreneurship (MSDE) and Minister of State, Ministry of Education inaugurated the NSDC International Academy at Greater Noida, Uttar Pradesh.
- The academy is a state-of-the-art facility designed to provide world-class skill development and training programmes.
- With a target of training over 1,000 candidates annually, the NSDC International Academy is committed to addressing the demands of both local and international job markets.
- With residential facilities accommodating up to 500 candidates, the NSDC International Academy offers an immersive learning environment that promotes both academic and personal growth.
Guneri village in Gujarat declared the first biodiversity heritage site
- The 32.78-hectare area of Guneri village in Lakhtar tehsil of Kutch district, which is a natural inland mangrove site, has been declared as the first Biodiversity Heritage Site of Gujarat.
- The Gujarat government made the announcement after considering a recommendation from the Gujarat Biodiversity Board. This will ensure conservation and enrichment of the flora and fauna in the area “through a management plan”.
- The announcement has been done under the provisions of The Biodiversity Act, 2002. The Act empowers the state government to notify an area as a BHS after consulting concerned local bodies.
About Gujarat
- Capital- Gandhinagar
- Chief Minister- Bhupendra Rajnikant Patel
- Governor- Acharya Devvrat
International News
Following USA, Argentina withdraws from World Health Organization
- Argentina announced its decision to withdraw from the World Health Organization (WHO), following the United States’ similar move under President Donald Trump.
- The decision was made by Argentina’s libertarian President Javier Milei, who instructed Foreign Minister Gerardo Werthein to initiate the withdrawal.
- President Milei cited “deep differences” regarding the WHO’s management of health issues, particularly its handling of the COVID-19 pandemic.
About World Health Organization (WHO)
- Formation – 7 April 1948
- Headquarters – Geneva, Switzerland
- First President – Andrija Štampar
- Director General – Tedros Adhanom (Ethiopia)
- Deputy Director General – Soumya Swaminathan (Indian)
- Member Countries – 194
Banking and Financial
L & T Finance launches AI-powered Virtual Home Loan Advisor ‘KAI’
- L &T Finance Limited (LTF) has introduced Knowledgeable AI (KAI), an AI-powered virtual home loan advisor, designed to simplify and personalize the home loan journey, accessible on their newly redesigned corporate website.
- KAI addresses challenges like complex terminology, intricate calculations, and lengthy processes, offering intuitive, efficient support to first-time homebuyers, helping them navigate the home loan process smoothly.
- Utilizing a specialized Large Language Model (LLM), KAI provides personalized guidance, instant EMI calculations, and expert answers, functioning as a 24/7 home loan guide rather than a traditional chatbot.
Recent Facilities Launched in Banking & Insurance Sector
- PNB MetLife partners with Policybazaar to Launch Smart Invest Pension Plan for Early Retirement
- Finvasia partners with Yes Bank to launch AI-enabled super app ‘Jumpp’
- Shriram GI Unveils Shri Health Suraksha Insurance – A Comprehensive and Affordable Health Plan
- Tata AIA Life Insurance launches ‘Shubh Muhurat’ to meet wedding expenses
- IDFC FIRST Bank launched the UPI enabled RuPay Credit Card called – FIRST EARN .
Airtel Payments Bank partners with Karnataka Bulldozers for CCL 2025
- Airtel Payments Bank has partnered with the Karnataka Bulldozers for the Celebrity Cricket League (CCL) 2025.
- As part of this collaboration, Airtel Payments Bank will be co-sponsoring the team in its quest for victory while promoting safe digital banking solutions to fans across the nation.
- The Celebrity Cricket League, known for its blend of cricket and entertainment, will begin on 8 February 2025. Through this collaboration, Airtel Payments Bank aims to connect with millions of cricket fans nationwide and reinforce its position as a trusted partner in digital banking.
Appointment
Citibank appoints K Balasubramanian as India head
- Citibank appointed, succeeding Ashu Khulla.
- Balasubramanian will report to Amol Gupte, head of Asia South and banking head. Ashu Khullar will transition to co-head of global asset managers (GAM) with Anthony Diamandakis.
- Under Khullar’s leadership from 2019 to 2025, Citi India achieved significant growth, becoming a top investment bank in equity capital markets and mergers and acquisitions.
Recent Appointment in Banking & Insurance Sector
- Executive Director of Dhanlaxmi Bank – P. Suriaraj
- MD & CEO of IDBI Bank – Rakesh Sharma
- MD and CEO of Zurich Kotak General Insurance – Alok Kumar Agarwal (Suresh Agarwal)
- MD and CEO of Indian Bank – Binod Kumar
- MD & CEO of Institutional Equities at JM Financial Institutional Securities – Ankur Jhaveri
- CEO of Angel One – Ambarish Kenghe (effect from March 2025)
Awards
Noel Tata awarded honorary doctorate by the University of Sussex
- The University of Sussex has conferred an honorary doctorate upon Noel Tata, a distinguished business leader within the Tata Group and a proud alumnus of the University.
- The honorary degree was presented by Professor Sasha Roseneil, Vice-Chancellor and President of the University of Sussex, during a private ceremony held in Mumbai.
- Noel Tata, who graduated from the University of Sussex in 1978 with a degree in Economics.
Recent Award
- Sahitya Akademi Award 2024 – Late Chaman Arora (for Ik Hor Ashwthama in Dogri).
- BCCI’s Lifetime Achievement Award 2024 – Sachin Tendulkar (31st)
- Subhash Chandra Bose Aapda Prabandhan Puraskar 2025 – Indian National Centre for Ocean Information Services (INCOIS) (In the Institutional Category for its excellent work in Disaster Management)
- Gates-Cambridge Impact Prize 2025 – Prof Urbasi Sinha
- Singapore’ Honorary Citizen Award – Tarun Das (Former DG of Confederation of Indian Industry)
- 14th PSE Excellence Awards by ICC – Indian Renewable Energy Development Agency Limited (IREDA)
Sports
Two time Grand Slams winner Simona Halep announced Retirement
- Two-time grand slam champion and former world No. 1 Simona Halep has retired from tennis.
- The Romanian announced her decision at the Transylvania Open in Cluj, Romania after losing her first-round match against Lucia Bronzetti 6-1, 6-1.
- Halep has struggled with injuries since returning to the court last year after serving a doping ban.
- The 33-year-old was handed a four-year ban in September 2023 after testing positive for the banned substance Roxadustat at the 2022 US Open.
- She won her first grand slam at the French Open in 2018, before securing her second at Wimbledon in 2019.
Important day
6 February – International Day of Zero Tolerance for Female Genital Mutilation
- International Day of Zero Tolerance for Female Genital Mutilation is observed every year on 6 February.
- The day aims to raise awareness and promote action to end Female Genital Mutilation (FGM), a harmful practice affecting millions of women and girls worldwide.
- Theme 2025- Step up the Pace
- In 2012, the UN General Assembly designated February 6th as the International Day of Zero Tolerance for Female Genital Mutilation, with the aim to amplify and direct the efforts on the elimination of this practice. Since 2008, UNFPA, jointly with UNICEF, leads the largest global programme to accelerate the elimination of female genital mutilation.
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