13th March, 2025 Current Affairs

NATIONAL
India’s Role in the 4th ‘No Money for Terror’ (NMFT) Conference

• The 4th ‘No Money for Terror’ (NMFT) Conference, held in Munich, highlighted global efforts to combat terror financing. India, a key participant since 2018, reiterated its commitment to strengthening international cooperation in fighting terrorism.
• The country emphasized the evolving threats posed by digital financial networks and cross-border transactions, calling for unified action against terror financing.
• Terror financing increasingly involves cross-border fund flows and digital transactions.
• Terrorists use complex and evolving financial methods to transfer assets.
• The need for greater international cooperation to track and counter terror financing.
• Strengthened the Unlawful Activities (Prevention) Act (UAPA), 1967 and Prevention of Money Laundering Act (PMLA), 2002.
• Terror Funding and Fake Currency (TFFC) Cell created under NIA.
• Amendments to UAPA and NIA Act, 2019 enabling asset seizure, attachment, and forfeiture.
• National Investigation Agency (NIA) introduced three new verticals focused on,
• Cyber Terrorism
• Explosive & Prohibited Arms
• Human Trafficking
• Fake Indian Currency Note Coordination Centre (FCORD) established to curb counterfeit currency.

Q1: What was the main focus of the 4th ‘No Money for Terror’ (NMFT) Conference held in Munich?
A1: The main focus was to highlight global efforts to combat terror financing and strengthen international cooperation in fighting terrorism.

Q2: Since when has India been a key participant in the ‘No Money for Terror’ (NMFT) Conference?
A2: India has been a key participant since 2018.

Q3: What new threat in terror financing did India emphasize during the 4th NMFT Conference?
A3: India emphasized the evolving threats posed by digital financial networks and cross-border transactions.

Q4: Which of the following financial methods is increasingly used in terror financing?
a) Cash transfers
b) Cross-border fund flows and digital transactions
c) Physical gold transport
d) Stock market manipulation
A4: b) Cross-border fund flows and digital transactions.

Q5: What is the objective of the Terror Funding and Fake Currency (TFFC) Cell created under the National Investigation Agency (NIA)?
A5: The objective is to track and counter terror financing and fake currency.

Q6: Which two acts were strengthened to enhance India's efforts in preventing unlawful activities and money laundering?
A6: The Unlawful Activities (Prevention) Act (UAPA), 1967 and Prevention of Money Laundering Act (PMLA), 2002 were strengthened.

Q7: What major amendments were made to the UAPA and NIA Act in 2019?
A7: The amendments enabled asset seizure, attachment, and forfeiture.

Q8: Which of the following is NOT one of the three new verticals introduced by the National Investigation Agency (NIA)?
a) Cyber Terrorism
b) Explosive & Prohibited Arms
c) Human Trafficking
d) Terrorist Money Laundering
A8: d) Terrorist Money Laundering.

Q9: What is the role of the Fake Indian Currency Note Coordination Centre (FCORD)?
A9: The role of FCORD is to curb counterfeit Indian currency.

Q10: Why is international cooperation crucial in combating terror financing?
A10: International cooperation is crucial to track and counter terror financing through digital and cross-border networks.

Government Initiatives to Promote Gas-Based Power Generation

• Gas-based power plants in India are currently operating at a low Plant Load Factor (PLF), impacting their efficiency and contribution to the energy sector. To address this, the Government of India has taken several measures to enhance the availability and affordability of natural gas for power generation.
• Key steps include placing Liquefied Natural Gas (LNG) under the Open General License (OGL) category, facilitating infrastructure expansion, and implementing policy reforms to encourage gas-based energy production.
• LNG has been placed under the OGL category, allowing power plants to import LNG as per their requirements.
• Power plants can negotiate mutually agreed commercial terms with suppliers for LNG procurement.
• This move removes regulatory barriers and enhances gas availability.
• In FY 2024-25 (April to January), power plants imported approximately 9.58 MMSCMD of gas.
• This import helps meet the growing demand for gas-based electricity during peak hours.
• The Government is working on expanding the National Gas Grid Pipeline, ensuring wider access to natural gas.
• The City Gas Distribution (CGD) network is also being expanded, promoting gas usage across urban and rural areas.
• Several Liquefied Natural Gas (LNG) Terminals are being set up to enhance gas import and storage capacity.

INTERNATIONAL
Taiwan president warns of China’s ‘infiltration’ effort, vows counter measures

• Taiwan President Lai Ching-te stated China has deepened its influence campaigns and infiltration against the democratic island, pledging measures to tackle Beijing’s efforts to “absorb” Taiwan.
• Taiwan has accused China of stepping up military drills, trade sanctions and influence campaigns against the island in recent years to force the island to accept Chinese sovereignty claims.
• Citing government data, Lai said 64 people were charged for Chinese espionage last year, three times more than in 2021. He said the majority of them were current or former military officials.
• The president proposed 17 legal and economic countermeasures, including the strict review of Taiwan visits or residency applications by Chinese citizens, and proposals to resume the work of the military court.

ECONOMY
Finance Ministry Notifies Zero Coupon Bond (ZCB) for Power Finance Corporation

• The Finance Ministry has notified the issuance of ZeroCoupon Bonds (ZCBs) by Power Finance Corporation (PFC). The company has been authorized to raise up to ₹10,000 crore through these bonds, which will be issued at a discount and redeemed at full face value upon maturity.
• A ZeroCoupon Bond (ZCB) is a financial instrument that does not pay periodic interest (coupon) during its tenure. Instead, it is issued at a discount and redeemed at its face value upon maturity. The difference between the issue price and face value represents the return for investors.
• The value of ZCBs is inversely related to interest rates. If interest rates rise, the demand for previously issued bonds decreases, potentially affecting resale value.
• Since ZCBs have long maturity periods, their price is highly sensitive to changes in interest rates. A 1% change in interest rates can lead to a significant price fluctuation.
• Since the bonds are issued at a discount and redeemed at full-face value, investors can secure a fixed return over a definite period.

SCIENCE AND TECHNOLOGY
NASA Launches Missions to Study Sun, Universe’s Beginning

• NASA’s newest astrophysics observatory, SPHEREx, is on its way to study the origins of our universe and the history of galaxies, and to search for the ingredients of life in our galaxy.
• Riding with SPHEREx aboard the Falcon 9 were four small satellites that make up the agency’s PUNCH (Polarimeter to Unify the Corona and Heliosphere) mission, which will study how the Sun’s outer atmosphere becomes the solar wind.
• The two missions are designed to operate in a low Earth, Sun-synchronous orbit over the day-night line (also known as the terminator) so the Sun always remains in the same position relative to the spacecraft. This is essential for SPHEREx to keep its telescope shielded from the Sun’s light and heat (both would inhibit its observations) and for PUNCH to have a clear view in all directions around the Sun.
• To achieve its wide-ranging science goals, SPHEREx will create a 3D map of the entire celestial sky every six months, providing a wide perspective to complement the work of space telescopes that observe smaller sections of the sky in more detail, such as NASA’s James Webb Space Telescope and Hubble Space Telescope.

Q1: What is the primary goal of NASA's SPHEREx mission?
A1: The primary goal of SPHEREx is to study the origins of the universe, the history of galaxies, and search for the ingredients of life in our galaxy.

Q2: What additional mission is riding along with SPHEREx aboard the Falcon 9 rocket?
A2: Along with SPHEREx, the Falcon 9 rocket also carries the PUNCH (Polarimeter to Unify the Corona and Heliosphere) mission, which will study how the Sun's outer atmosphere becomes the solar wind.

Q3: Why is SPHEREx's position in a Sun-synchronous orbit important for its mission?
A3: SPHEREx's Sun-synchronous orbit is important because it ensures that the Sun always remains in the same position relative to the spacecraft, allowing SPHEREx to shield its telescope from the Sun’s light and heat, which would otherwise inhibit its observations.

Q4: What type of orbit will both SPHEREx and PUNCH operate in?
A4: Both SPHEREx and PUNCH will operate in a low Earth, Sun-synchronous orbit over the day-night line (also known as the terminator).

Q5: What is the significance of the 3D map that SPHEREx will create?
A5: SPHEREx will create a 3D map of the entire celestial sky every six months, providing a broad perspective to complement the detailed observations of space telescopes like the James Webb and Hubble Space Telescopes, which focus on smaller sections of the sky.

Q6: How often will SPHEREx update its 3D map of the celestial sky?
A6: SPHEREx will update its 3D map of the celestial sky every six months.

Q7: What is the PUNCH mission designed to study?
A7: The PUNCH mission is designed to study how the Sun's outer atmosphere becomes the solar wind.

Q8: What is a key reason why SPHEREx needs to shield its telescope from the Sun’s light and heat?
A8: SPHEREx needs to shield its telescope from the Sun's light and heat because both would interfere with its ability to make accurate observations of the universe.

Q9: How will SPHEREx complement the work of space telescopes like NASA’s James Webb and Hubble Space Telescopes?
A9: SPHEREx will complement these telescopes by providing a wide, 3D perspective of the celestial sky, while telescopes like James Webb and Hubble focus on smaller sections of the sky in greater detail.

Q10: What does the term "terminator" refer to in the context of SPHEREx and PUNCH’s orbits?
A10: The term "terminator" refers to the day-night line on Earth, where the Sun always remains in the same position relative to the spacecraft, allowing for consistent observations.

Published date : 13 Mar 2025 05:22PM