Welcome to Edukraze’s Current Affairs Today section, where we provide you with the most up-to-date and comprehensive information on current affairs for the year 2023-2024. Whether you are preparing for UPSC, IAS/PCS, Banking, IBPS, SSC, Railway, UPPSC, RPSC, BPSC, MPPSC, TNPSC, MPSC, KPSC, or any other competitive examination, our daily current affairs updates will keep you informed and prepared.
Unlocking the Secrets of the Universe: A New Approach to the Hubble Constant
The Hubble Constant Explained
The Hubble Constant, which represents the rate at which our universe expands, has been a subject of debate among cosmologists. It relies on measuring distances between cosmic observers and objects and the speed at which these objects move away due to the universe’s expansion.
Traditional vs. New Methods
Traditional methods, such as analyzing supernovae brightness, Cosmic Microwave Background (CMB) radiation, and gravitational waves, have yielded inconsistent results. Researchers now propose a fresh approach: studying lensed gravitational waves and their time delays, involving gravitational lensing.
This new method offers an independent estimate of the Hubble Constant and has the potential to provide insights into various cosmological parameters, enhancing our understanding of the universe’s expansion.
Balancing Act: India’s Economic Challenges
The Impossible Trinity
India faces a complex economic challenge known as the “Impossible Trinity.” This conundrum involves simultaneously pursuing independent monetary policy, maintaining a fixed exchange rate, and allowing the free flow of capital across borders.
Balancing these objectives is no easy feat. Strategies like managing interest rates, foreign exchange reserves, and capital controls are essential. Additionally, China’s economic policies, such as rate cuts and currency depreciation, can impact India’s trade balance and currency dynamics.
Implications for Investors
Indian investors must consider strategies to protect against rupee depreciation. This includes diversifying investments abroad and focusing on sectors earning in dollars.
The Future of Money: Central Bank Digital Currencies
Central Bank Digital Currencies (CBDCs) are digital versions of national currencies issued by central banks. They hold legal tender status and can be transacted using blockchain-backed wallets.
CBDCs aim to reduce the cost of handling physical currency, promote financial inclusion, and address the use of cryptocurrencies for money transfer.
Countries like the Bahamas, Nigeria, and China have already launched or piloted CBDCs, focusing on improving cross-border transactions.
CBDCs can revolutionize cross-border payments by offering instant settlement and merging the benefits of digital currencies with traditional fiat currencies’ stability.
Implementing CBDCs comes with challenges like privacy concerns, potential disintermediation of banks, technology risks, operational complexities, and cybersecurity challenges.
The Way Forward
Central banks should prioritize research, collaborate with stakeholders, ensure security and privacy, and work internationally to address regulatory and technical challenges in CBDC implementation.
Reviving the Ganga: Progress and Challenges
Progress in Sewage Treatment
The National Mission for Clean Ganga (NMCG) has made strides in sewage treatment, covering 20% of sewage generated in major Ganga states. The goal is to increase treatment capacity to 60% by 2026.
NMCG faces obstacles like land acquisition, funding gaps, waste management, and inadequate sewerage coverage.
Despite challenges, NMCG has improved the Ganga’s water quality, leading to a rise in the dolphin population and clean-water fish species. The mission is also developing a water quality index.
Various initiatives, including Namami Gange Programme, Ganga Action Plan, National River Ganga Basin Authority (NRGBA), Clean Ganga Fund, Bhuvan-Ganga Web App, and bans on waste disposal, contribute to Ganga’s rejuvenation.
Ganga River System
The Ganga River system originates in the Himalayas, fed by the Gangotri Glacier. It’s joined by several tributaries, including Yamuna, Ghaghara, Gandak, and Kosi.
Pacific Weather Patterns and Climate Change Challenges
Changing Walker Circulation
Recent studies have raised concerns about changing Pacific weather patterns. The Walker Circulation, a key part of the El Nino-Southern Oscillation (ENSO), has shifted its behavior since the industrial era, impacting global weather patterns.
Prolonged Climate Patterns
The transition from El Nino to La Nina has slowed over time, potentially leading to more frequent prolonged climate patterns. These patterns can result in increased droughts, fires, heavy rainfall, and floods.
Walker Circulation Vulnerability
Although the Walker Circulation’s strength hasn’t declined yet, elevated carbon dioxide levels could weaken it. Climate models predict potential weakening by the end of the century.
Volcanic Eruptions’ Role
The study also connects volcanic eruptions to Walker Circulation weakening, influencing global weather patterns.
Impacts of Multi-Year Events
Multi-year El Nino and La Nina events can trigger extreme weather events, natural disasters, agriculture and food security challenges, economic and societal impacts, and environmental consequences.
Promoting Sustainable Tourism and LGBTQ+ Rights
- G20 Tourism and SDG Dashboard
- The Ministry of Tourism and the United Nations World Tourism Organization (UNWTO) unveiled the G20 Tourism and Sustainable Development Goals (SDGs) Dashboard. It showcases best practices and case studies from G20 countries to achieve SDGs through tourism.
- Hong Kong’s LGBTQ+ Rights
- Hong Kong’s top court ruled in favor of recognizing same-sex partnerships, though full marriage rights are pending. This decision marks progress in LGBTQ+ rights, reflecting a global trend toward acceptance and inclusivity.
- Malaviya Mission: Enhancing Education
- The Malaviya Mission, a teacher training program initiated by the University Grants Commission (UGC) and the Ministry of Education, aims to improve education quality in higher educational institutions. It intends to equip 15 lakh teachers across India with skills aligned with the National Education Policy (NEP).
- Personalized Learning for All
- The National eGovernance Division (NeGD) is integrating Personalized Adaptive Learning (PAL) into the Digital Infrastructure for Knowledge Sharing (DIKSHA) platform. PAL uses AI to provide tailored learning experiences for students.
Recent Developments in India
- India’s First UPI ATM
- Hitachi Payment Services launched India’s first UPI ATM, allowing cardless cash withdrawals using UPI apps.
- Photographer of the Year 2023
- Jack Xie won the Best Photography Award in the Photographer of the Year 2023 Contest.
- New Director of SPG
- Arun Kumar Sinha, the Director of Special Protection Group (SPG), recently passed away.
- Sanchi – India’s First Solar City
- Sanchi, Madhya Pradesh, became India’s first solar city, reducing carbon emissions significantly.
- ICC’s Sponsorship Deal
- The International Cricket Council (ICC) signed a multi-year sponsorship deal with IndusInd Bank.
- Amul Sponsors Asian Games
- Amul is the official sponsor of the Indian contingent for the 19th Asian Games 2022 in Hangzhou, China.
- Shyam Sundar Gupta – New Chief Operating Manager
- Shyam Sundar Gupta assumed the role of Principal Chief Operating Manager of Central Railway in Pune.
- Guest Countries at G20 Summit
- India invited nine non-G20 countries to the G20 summit as guest countries.
- National Awards for Teachers
- President Draupadi Murmu presented National Awards to teachers on Teachers’ Day.
Stay Updated | Current Affairs | September 7, 2023
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