Daily Current Affairs for IAS PCS (UPSC CSE)

  Context The International Monetary Fund (IMF) has issued a warning to the Maldives, stressing the urgent need for stronger fiscal consolidation to address the nation's rising economic challenges. The country faces a growing fiscal deficit and increasing reliance on external borrowing, making financial stability a key concern for policymakers. About the Maldives Geographical Location & Features Location : The Maldives is an island nation located in the Indian Ocean , southwest of Sri Lanka and India , approximately 750 km from the Asian mainland . Capital : The capital city, Malé , is the political, economic, and cultural hub of the Maldives. Historically known as the "King’s Island" , it has played a central role in governance. Composition : The Maldives consists of 1,190 coral islands grouped into 26 atolls arranged in a double chain . Unique Island : Addu Atoll is the only Maldivian atoll that extends south of the equator , making it geographically distinct fr...

  Introduction Manikaran, located in the Parvati Valley of Kullu district, Himachal Pradesh , is a renowned pilgrimage site for Hindus and Sikhs . Known for its hot springs, scenic beauty, and religious significance , Manikaran has recently become the center of controversy due to a proposal to transfer its hot spring water to Kasol for tourism development . This move has sparked protests from local communities and religious groups , raising concerns over environmental impact and spiritual sanctity. Historical and Religious Significance of Manikaran Manikaran is considered sacred in both Hinduism and Sikhism , with rich mythological and historical roots: Hindu Beliefs Hindu scriptures suggest that Manu , the first man according to Hindu mythology, recreated human life here after the Great Flood . The region is associated with Lord Shiva and Goddess Parvati , who are believed to have meditated in the valley. The hot springs are considered divine and are used for cooking food in te...

  Introduction The Kalyani Chalukyas, also known as the Western Chalukyas , ruled over the Deccan Plateau between the 10th and 12th centuries CE . Recently, archaeologists discovered 900-year-old Kannada inscriptions from this era in Kankal village, Vikarabad district, Telangana . These inscriptions, dating 1129-1132 CE , highlight temple construction and land donations during the reign of Emperor Someswara III Bhulokamalladeva . Who Were the Kalyani Chalukyas? The Kalyani Chalukyas were a major dynasty that controlled present-day Karnataka, Maharashtra, Andhra Pradesh, and Telangana . They succeeded the Rashtrakutas and were instrumental in shaping Deccan culture, administration, and temple architecture . Dynastic Lineage and Origin The Chalukyan dynasty is divided into three main branches: Chalukyas of Badami (6th-8th century CE) Eastern Chalukyas of Vengi (7th-12th century CE) Western Chalukyas (Kalyani Chalukyas) (10th-12th century CE) The Kalyani Chalukya dynasty was founde...

  Source: DD News Context The 9th edition of the Asia Economic Dialogue (AED) 2025 is scheduled to take place in Pune, Maharashtra , from February 20 to February 22, 2025 . This high-profile geoeconomic conference will serve as a crucial platform for discussing regional and global economic challenges, fostering cooperation, and addressing emerging issues in the international economy. What is the Asia Economic Dialogue (AED)? The Asia Economic Dialogue (AED) is an annual international conference that brings together policymakers, economists, business leaders, and academicians to discuss Asia's economic landscape, policy challenges, and global market trends . Host & Organizers Hosted by : Ministry of External Affairs (MEA), Government of India Co-organized by : Pune International Centre (PIC) , a leading think tank working on policy research and international relations. Key Objectives Facilitate Policy Dialogue : Address economic challenges, global financial risks, and trade ...

Introduction Quantum computing is set to revolutionize industries by solving complex problems far beyond the reach of classical computers. Microsoft has taken a significant leap forward with the launch of Majorana 1 , its first quantum computing chip. This innovative chip uses Majorana particles and topoconductors to enhance stability, scalability, and efficiency, addressing some of the biggest challenges in quantum computing. What is Majorana 1? Majorana 1 is a quantum computing chip developed by Microsoft, designed to minimize computational errors and improve the stability of quantum processors. Unlike traditional quantum chips, which suffer from decoherence and instability, Majorana 1 utilizes Majorana fermions , exotic quantum states that enhance fault tolerance. Key Features of Majorana 1 Error-Resistant Qubits: Uses Majorana particles to reduce errors in quantum calculations. Topoconductors: A new class of materials that stabilize quantum information. Scalability: Can scale...

  Introduction The Insurance Regulatory and Development Authority of India (IRDAI) has formed a high-powered committee under the leadership of former SBI Chairman Dinesh Khara . The primary objective of this committee is to review and modernize the Insurance Act, 1938 to align with contemporary market needs. This move is expected to bring major reforms in India's insurance sector, including policyholder protection, foreign direct investment (FDI) changes, and the introduction of composite insurance companies . Why Was the Dinesh Khara Committee Established? The insurance sector in India has grown significantly in recent years, yet several legal and regulatory bottlenecks persist. To address these challenges, the Dinesh Khara Committee has been set up to: Key Objectives of the Committee Review & Modernize the Insurance Act, 1938 Identify outdated provisions that need amendments. Propose updates to meet evolving global insurance standards. Examine 100% Foreign Direct Invest...