12th March, 2025 Current Affairs

daily current affairs

NATIONAL 
Centre bans Awami Action Committee for five years under UAPA
•    The Ministry of Home Affairs (MHA) declared the Jammu and Kashmir-based Awami Action Committee (AAC) an unlawful association under the Unlawful Activities (Prevention) Act, 1967, imposing a five-year ban on the organization. The decision was based on accusations that the AAC has been engaging in activities threatening India’s sovereignty, integrity, and security.
•    According to an official notification, the AAC, led by Umar Farooq, has been involved in supporting terrorist activities and spreading anti-India propaganda to fuel separatism in Jammu and Kashmir. The ministry said that the AAC has been mobilizing funds to support secessionist, separatist, and terrorist operations in the region.
•    The government further highlighted that the AAC is displaying blatant disregard for India’s constitutional authority by promoting unrest, encouraging armed insurgency, and spreading hatred against the government.
•    Exercising its powers under Section 3(1) of the UAPA, 1967, the MHA formally declared AAC an unlawful organization. The ban will remain in force for five years from the date of its publication in the Official Gazette unless overturned by legal intervention.

INTERNATIONAL 

India, Mauritius to jointly develop satellite, boost climate resilience

•    India and Mauritius reaffirmed their long-standing and deep-rooted relationship during Prime Minister Narendra Modi’s State Visit to Mauritius from March 11 to 12, 2025. In a comprehensive bilateral meeting, Prime Minister Modi and his Mauritian counterpart, Dr. Navinchandra Ramgoolam, discussed various aspects of their partnership, emphasizing the historical, cultural, and strategic ties that bind the two nations.
•    Both leaders acknowledged that Mauritius-India relations have evolved into a Comprehensive Strategic Partnership, extending across multiple sectors and benefiting not just their respective countries but also the broader Indian Ocean region.
•    To deepen their cooperation, India and Mauritius will work closely on the successful development and launch of the India-Mauritius satellite. As part of this initiative, Indian Space Research Organisation (ISRO) will provide training to Mauritian scientists and experts. Both sides also agreed to implement advanced weather and climate forecasting systems, including Wave Rider Buoys and a Multi-hazard Emergency System, aimed at strengthening disaster preparedness in Mauritius.
•    Renewing the ongoing collaboration between ISRO and the Mauritius Research and Innovation Council (MRIC), the leaders pledged to enhance the ISRO Telemetry and Tracking Centre in Mauritius. Additionally, they explored new avenues for cooperation in space and climate change, with India offering capacity-building support tailored to Mauritius’ needs.

ECONOMY 
India’s warehousing demand sees 12% growth, Mumbai leads
•    India’s warehousing transaction volumes in its eight primary markets reached 56.4 million square feet (mn sq ft) in 2024, marking a 12% year-on-year increase from 50.3 mn sq ft in 2023, according to a Knight Frank India report released Wednesday.
•    The report notes that these markets have 233 mn sq ft of unutilized land, enough to meet future demand. While rents have risen, vacancy rates stood at 11.5%, keeping rental growth in check. Grade A space accounted for 62% of transactions, with the manufacturing sector driving 39% of demand.
•    Mumbai led the market with 10.3 mn sq ft transacted in 2024, with third-party logistics (3PL) dominating 43% of the space. The National Capital Region (NCR) followed with 16% of total transactions, while cities like Bengaluru, Kolkata, Ahmedabad, and Chennai saw 25-29% YoY growth. Manufacturing was the key driver in Chennai, Bengaluru, and Ahmedabad, while Kolkata saw significant activity from 3PL and e-commerce companies.
•    The manufacturing sector continued its momentum, accounting for 39% of total transactions with an 18% YoY growth. Knight Frank India CMD Shishir Baijal emphasized the strong occupier demand, driven by manufacturing expansion and rising rents, signaling India’s warehousing sector as a resilient and high-growth asset.
•    The sector also saw a surge in private equity investments, reaching USD 1,877 million in 2024, up 136% from the previous year, reflecting growing institutional interest driven by the rise of e-commerce, manufacturing, and supply chain needs.

RBI and NCFE Launch Nationwide Campaigns to Boost Financial Literacy
•    The Reserve Bank of India (RBI) and the National Centre for Financial Education (NCFE) have launched nationwide financial literacy campaigns to promote financial awareness and inclusion. 
•    These initiatives, implemented under the National Strategy for Financial Education (NSFE), aim to empower diverse sections of society with essential financial knowledge and skills. Special programs are being conducted across different age groups, particularly targeting youth (below 18 years) and senior citizens (above 60 years).

S&T 
James Webb Space Telescope reveals unexpected complex chemistry in primordial galaxy
•    Observed by NASA's James Webb Space Telescope, the galaxy -- designated JADES-GS-z14-0 -- is unexpectedly bright and chemically complex for an object from this primordial era.
•    This provides a rare glimpse into the universe's earliest chapter.
•    The work was done as part of the JWST Advanced Deep Extragalactic Survey, or JADES, a major James Webb Space Telescope program designed to study distant galaxies.
•    The research team used multiple instruments on board JWST, including the Near Infrared Camera, or NIRCam, whose construction was led by U of A Regents Professor of Astronomy Marcia Rieke. Another instrument on the telescope -- the Mid-Infrared Instrument, or MIRI, revealed something extraordinary: significant amounts of oxygen.
 

Published date : 13 Mar 2025 11:13AM