Current Affairs - January 5, 2025 Current Affairs

Researchers from IIT-Guwahati, in collaboration with the Bose Institute, Kolkata, developed an innovative injectable hydrogel designed for localized cancer treatment, particularly breast cancer therapy. This hydrogel is composed of ultra-short peptides and is sensitive to glutathione, abundant in tumour cells, allowing precise drug activation. Unlike traditional chemotherapy, which causes systemic side effects, this hydrogel targets tumours directly, reducing harm to healthy cells. The research, led by Debapratim Das (IIT-G) and published in Materials Horizons, offers a breakthrough approach to cancer treatment, emphasizing precision and minimal invasiveness.

Chhattisgarh has pioneered the adoption of the Green GDP model in India, emphasizing the integration of ecological services such as clean air, water conservation, and biodiversity into economic planning. This initiative promotes sustainable development by valuing the contributions of natural resources and ensuring their preservation. It sets an example for balancing economic growth with environmental health, helping policymakers create strategies that recognize the economic significance of forests while mitigating ecological degradation.

Nomura has lowered India’s GDP growth forecast for FY25 to 6.7%, citing factors such as reduced government spending, weaker consumer demand, and declining industrial activity. The forecast reflects a cautious outlook following lower-than-expected growth in the April-June quarter. Despite the downgrade, the medium-term prospects remain optimistic, with expectations of support from easing inflation and potential fiscal stimulus. This revision contrasts with other institutions like Goldman Sachs and J.P. Morgan, which predicted 6.5% growth, highlighting differing perspectives on India's economic trajectory.

West Bengal, particularly the Sundarbans region, faces severe human trafficking challenges exacerbated by socio-environmental vulnerabilities. Repeated cyclones like Amphan and Yaas have worsened poverty and displacement, increasing the risk of trafficking, especially for women and children. In 2022, 58,871 individuals were reported missing, with a majority being women and children. The state recorded a gradual rise in trafficking cases over three years, reflecting the need for urgent intervention and sustainable solutions to address the socio-economic and environmental factors driving this crisis.

The recent surge in Human Metapneumovirus (HMPV) cases in China has predominantly affected children under 14 years of age. HMPV is a respiratory virus causing symptoms such as cough, fever, and shortness of breath, with complications like bronchitis and pneumonia. While no unusual spikes in HMPV cases have been reported in India, the Union Health Ministry is closely monitoring the situation. Discovered in 2001, HMPV is part of the Pneumoviridae family and poses significant risks to children, older adults, and individuals with compromised immunity, especially during the winter months.

BharatPe, a leading fintech company, plans to sell 25% of its 49% stake in Unity Small Finance Bank as part of its strategy to comply with RBI regulations. This stake sale aims to raise approximately $800 million (Rs 6,500 crore) and will help BharatPe align with the requirement to reduce its stake to 10% by 2029. The appointment of Rothschild & Co underscores the significance of this move, which is expected to contribute to the bank's financial growth and regulatory compliance while enhancing BharatPe’s strategic focus.

The protests in Pithampur, Madhya Pradesh, were triggered by the disposal of 337 tonnes of toxic waste from the Union Carbide factory in Bhopal, which was transported to an industrial incineration facility. Locals fear environmental damage, including groundwater contamination and air pollution, despite government assurances of safe disposal. The waste is a remnant of the 1984 Bhopal Gas Tragedy, one of history's worst industrial disasters, leaving lasting health and environmental impacts. Public mistrust of government handling of hazardous materials has fueled opposition, with activists citing past failures in ensuring safety and transparency in waste management practices.

Telangana has expanded its Rythu Bharosa scheme to offer ₹7,500 per acre to approximately 70 lakh farmers for each crop season, beginning January 2025. This initiative aims to support genuine farmers and improve agricultural outcomes while addressing past issues of misuse under the previous scheme. The government has also planned significant market borrowings to ensure the financial sustainability of this expanded scheme, highlighting its commitment to prioritizing the welfare of its farming community.

Assam recorded an elephant population of 5,828 in the 2024 Elephant Population Estimate, reflecting an increase of 109 elephants since 2017. The estimation process, conducted with extensive personnel and coverage, emphasized the importance of Elephant Reserves and other protected areas in sustaining this growth despite challenges like habitat loss and human-wildlife conflicts. This highlights Assam's commitment to wildlife conservation and its focus on maintaining ecological balance.

The Reserve Bank of India (RBI) has approved the merger of National Co-operative Bank (Bangalore) with Cosmos Co-operative Bank (Maharashtra), effective January 6, 2025. This merger is part of efforts to strengthen the cooperative banking sector. Post-merger, all branches of the National Co-operative Bank will function under the Cosmos Co-operative Bank umbrella. The decision comes after financial restrictions were imposed on the National Co-operative Bank due to weak financial performance, emphasizing the need for consolidation and stability in the sector.