theIASHub | 24 Mar, 2025 | 5
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Sukhna Wildlife Sanctuary: Recenly, the Punjab government submitted an affidavit before the Supreme Court (SC) stating that the Eco Sensitive Zone (ESZ) around the Sukhna Wildlife Sanctuary will remain at 100 meters for the Nayagaon municipal committee, instead of 1 to 3 km.
o The sanctuary was developed through afforestation for soil conservation around the lake, established in 1998, it covers an area of 2600 hectares.
Lapis lazuli: It is, known for its vibrant blue colour, has been mined for over 6,000 years, with Afghanistan’s Badakhshan province producing the highest quality.
o Blueness depends on the amount and structure of sulphur in lazurite.
o Calcite reduces blueness, while the golden sparkle comes from pyrites.
o Afghanistan’s Badakhshan province produces the highest quality, mined for over 6,000 years.
o Occurs almost exclusively in massive form without visible crystals.
o Optical Properties: Form (Granular, disseminated, or massive; rarely as dodecahedral or cube crystals), Colour (Deep blue), Relief (Low), Interference Colours (Isotropic, sometimes anomalously anisotropic)
Mount Lewotobi Laki Laki: The Mount Lewotobi Laki Laki volcano in south-central Indonesia erupted three times recently, sending an ash column 8,000 metres (26,200 feet) high, prompting authorities to expand the danger zone.
o Shape: Tall, steep, cone-shaped volcanoes, unlike flat shield volcanoes.
o Formation: Found above subduction zones and are part of volcanically active regions like the Ring of Fire.
o Composition: Comprise about 60% of Earth's volcanoes, erupt andesite and dacite lavas, which are cooler and more viscous than basalt.
Exercise Varuna 2025: This was the 23rd edition of the India-France bilateral naval exercise, was conducted in the Arabian Sea from March 19–22, 2025.
o Officially named 'Varuna' in 2001; a key pillar of Indo-French strategic cooperation.
o The 2025 edition featured high-intensity drills across sub-surface, surface, and aerial domains.
o The Indian Navy closely observed the Rafale-M fighter jets, which India is set to acquire soon.
o Tested underwater domain awareness and ASW tactics.
Derivatives: Recently, IndusInd Bank reported derivative losses of ₹2,100 crore on March 10, 2025, leading to a 23% decline in its share price.
o Futures: It contract to buy/sell an asset at a fixed price on a future date.
ü For example: Commodity traders hedging against price fluctuations.
o Options: It gives the right (but not obligation) to buy (call) or sell (put) an asset at a set price before a deadline.
ü For example: Stock options in equity markets.
o Swaps: It is an agreements to exchange cash flows based on financial metrics.
ü For example: Interest rate swaps to reduce borrowing costs.
o Forwards: It is private agreements (OTC) to buy/sell assets at a future date.
ü For example: Currency forward contracts for importers/exporters.
o Feature: Traded on stock exchanges, unlike Over-the-Counter (OTC) derivatives, which are private.
Farakka Barrage: It was commissioned in 1975, and its 50th anniversary is being observed in 2025.
o Commissioning: Began operations on April 21, 1975, after 12 years of construction.
o Purpose: Diverts 40,000 cusecs of water into the Farakka Feeder Canal to flush out silt from the Bhagirathi-Hooghly River, ensures smooth navigation for Kolkata Port.
o India-Bangladesh Agreements: Multiple agreements over Ganga water sharing, including Farakka Agreement (1977) & Ganga Water Treaty (1996)
o Length: About 260 km long; a distributary of the Ganges.
o Formation: The Ganga River splits in Murshidabad - one branch forms the Padma River, flowing into Bangladesh. The other becomes the Hooghly River, flowing through West Bengal.
Insights from RBI’s Sixth Round of India’s Remittances Survey (2023-24) show that the US, UK, Singapore, Canada, and Australia together accounted for more than half of remittances into India.
o Global Leader: India has consistently received the highest remittances globally.
o Remittances have doubled from $55.6 billion (2010-11) to $118.7 billion (2023-24).
o United States: Largest contributor, accounting for 27.7% of total remittances.
o UAE: Second largest source, with its share rising from 18% (2020-21) to 19.2% (2023-24).
o Advanced Economies: Share from countries like the US and UK has increased, surpassing Gulf economies in 2023-24.
o US & UK Combined: Contributed nearly 40% of total remittances in FY24.
o GCC Countries: UAE, Saudi Arabia, Kuwait, Qatar, Oman, and Bahrain collectively contributed 38%.
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