DAILY CURRENT AFFAIRS ANALYSIS
1 – Recent success in Chess for India: Sports-related issues:
Context:
- the incredible success of Rameshbabu Praggnanandhaa and his sister Vaishali, two Indian chess siblings who have been creating ripples in the chess community.
- Prodigy in chess, Praggnanandhaa became the second-youngest Grandmaster in 2018 after becoming an International Master at the age of 10. In online competitions, he has also triumphed three times over five-time world champion Magnus Carlsen.
- Vaishali, who is four years older than Praggnanandhaa, just joined Koneru Humpy and Harika Dronavalli as the third female Grandmaster from India. They became the first brother and sister Grandmaster team in history as a result of their accomplishment.
- Vaishali had to deal with the psychological fallout and strain of success as her brother Praggnanandhaa became well-known worldwide. However, she overcame pressure to forge her own path in chess and sentiments of jealousy. Initially trained by Grandmaster RB Ramesh, the brothers’ chess journeys have taken them in separate directions.
- Vaishali is a relentless striker, whereas Praggnanandhaa is renowned for his defensive prowess. The two siblings play in quite different ways. Vaishali is more of an introvert, while Praggnanandhaa is an extrovert.
Use:
- You can use this example to illustrate excellence, the dynamics of sibling rivalry, chess excellence, etc.
Source The Hindu
2 – Creditors in the Paris Club group: GS II – International Issues:
Context:
- With regards to a debt treatment plan, Sri Lanka has struck a “agreement in principle” with Japan, India, and the Paris Club group of creditors.
Goal:
- It is anticipated that this agreement will make it easier for the International Monetary Fund to release Sri Lanka’s next installment of its almost $3 billion rehabilitation package.
- Due to Sri Lanka’s approximately $51 billion international debt default during the height of the previous year’s economic crisis, a thorough credit restructuring was required.
About Sri Lanka’s economic crisis:
- A number of issues, including high government debt levels, a huge trade imbalance, low foreign exchange reserves, and slowing economic development, have contributed to Sri Lanka’s current economic crisis.
What is the Paris Club?
- The Paris Club, which was founded in 1956 and has its headquarters in Paris, France, is a consortium of high-ranking officials from key creditor nations tasked with devising concerted and long-term solutions to the payment challenges faced by debtor nations. Regarding Sri Lanka’s debt, it gave the International Monetary Fund financial assurances.
Goal:
- to identify long-term debt relief options for nations unable to pay back their bilateral loans.
Participants:
- 22 permanent members who are all OECD members.
- China and India are not participants. India participates on an as-needed basis.
Source The Hindu
3 – Fund for Loss and Damage (L&D): GS II – Government Policies and Interventions:
Context:
- In order to compensate countries already suffering from the effects of climate change, member nations of COP 28 unanimously decided to operationalize a Loss and Damage (L&D) fund on the first day of the conference.
- At least $450 million in promises have been made to the fund, which is handled independently but has its headquarters at the World Bank. The L&D fund was initially revealed in 2022 in Sharm el-Sheikh, Egypt, during COP27.
L&D: What is it?
- It alludes to the detrimental effects of the inevitable threats posed by climate change, such as increasing sea levels, protracted heat waves, the extinction of animals, failed crops, etc.
- The L&D fund addresses the projected cost of approximately $1.5 trillion in 2022 resulting from climate change.
Source The Hindu
4 – MAHASAGAR: GS II – Government Policies and Interventions:
Context:
- The first iteration of the Indian Navy’s outreach programme, MAHASAGAR, took place virtually between the Indian Chief of Naval Staff and the leaders of navies and maritime agencies from the littoral regions of the Indian Ocean Region (IOR).
- Several IORA members, including Bangladesh, Comoros, Kenya, Madagascar, Maldives, Mauritius, Mozambique, Seychelles, Sri Lanka, and Tanzania, were among the participating countries. They stressed the significance of connecting the IOR’s capacities with India’s SAGAR vision.
What is SAGAR in India?
- The goal of India’s 2015 announcement of SAGAR, or “Security and Growth for All in the Region,” is to improve maritime cooperation and security in the Indian Ocean Region (IOR) by means of a vision and policy framework. For the benefit of all the countries in the region, the initiative highlights how crucial it is to advance sustainable development and collective security.
Source The Hindu
5 – ASW Shallow Water Craft (CSL) project: GS II – Government Policies and Interventions:
Context:
- On November 30, 2023, at Cochin Shipyard Limited (CSL), Kochi, the first three ships of the ASW Shallow Water Craft (CSL) project for the Indian Navy—named Mahe, Malvan, and Mangrol—were launched simultaneously.
About Mahe class ships:
- They are a component of the 08 x ASW Shallow Water Craft project and have underwater sensors designed and manufactured in the country for use in maritime and anti-submarine operations. “Aatmanirbhar Bharat” with more than 80% indigenous content is the project’s goal. 2024 is when the first ship is anticipated to be delivered.
- The objective is to carry out minelaying operations, Low-Intensity Maritime Operations (LIMO), and anti-submarine operations in coastal waters.
Source The Hindu
