Current Affairs

3 CRORE PM JAN DHAN ACCOUNTS TO BE OPENED IN FY25

Why in the News?

Finance Minister Nirmala Sitharaman announced that about 3 crore new accounts under PMJDY are expected to be opened this financial year. The scheme has expanded from 14.72 crore accounts in March 2015 to 53.13 crore by August 2024, with deposits growing from Rs 15,670 crore to over Rs 2.31 lakh crore.

Pradhan Mantri Jan Dhan Yojana (PMJDY)

• Launched: 28^th August 2014, by Prime Minister Narendra Modi
• Government Ministry: Ministry of Finance
• It is one of the largest financial inclusion initiatives globally, aimed at providing every household in India with access to basic banking services.
• Primary Objectives
  • Ensure universal access to banking facilities.
  • Provide basic savings and deposit accounts.
  • Facilitate access to credit, insurance, and pension.
  • Promote financial literacy.
• Key Features
  • The accounts can be opened with zero balance.
  • Account holders receive a RuPay debit card, which includes accidental insurance cover upto 2 lakh and Life Insurance upto 30,000.
  • After six months of satisfactory operation, account holders are eligible for an overdraft facility of up to Rs 10,000.
  • Government subsidies and other payments are directly transferred to the beneficiaries' accounts.
  • It provides basic banking services through a mobile phone.
  • A large percentage of PMJDY accounts are held by women, promoting gender equality in financial access.
  • It has successfully bridged the gap between rural and urban account holders.

Logo of PMJDY

CENTRE ANNOUNCES 5 NEW DISTRICTS IN LADAKH

Why in the News?

Union Home Minister Amit Shah announced the creation of five new districts in Ladakh - Zanskar, Drass, Sham, Nubra, and Changthang. This move aims to improve public service delivery and bring government initiatives closer to remote areas. Previously, Ladakh had only two districts, Leh and Kargil. The Ministry of Home Affairs has asked the Ladakh administration to form a committee to assess details and submit a report within three months.

Ladakh

• Ladakh is a Union Territory (UT) in northernmost part of India.
• It was part of the state of Jammu and Kashmir until August 5, 2019.
• It is bordered by the Karakoram Range to the north and the Himalayas to the south.
• International Borders: China and Pakistan
• Capital: Leh is the administrative capital of Ladakh, while Kargil is the second-largest town.
• Lieutenant Governor: Bal Dutt Mishra
• It is home to some of the highest motorable roads in the world.
• It is known as “the Land of Passes‟.
• It is referred to as a “cold desert” due to its combined features of arctic and desert climates.
• Soil type: It ranges from gravely and sandy loams on the alluvial fans to sandy and silt clay loams on the flood plains of Indus.
• Major Rivers
  • Indus River
  • Zanskar River
  • Shyok River
  • Nubra River
  • Suru River
  • Markha River
• Protected Areas
  • Hemis National Park
  • Changthang Wildlife Sanctuary
  • Karakoram Wildlife Sanctuary
  • Nubra Wildlife Sanctuary

Ladakh on Map

ATACAMA SALT FLAT SINKING DUE TO LITHIUM MINING

Why in the News?

Chile's Atacama salt flat is sinking by 1 to 2 centimeters annually due to lithium brine extraction, according to a University of Chile study using satellite data from 2020 to 2023. Published in IEEE Transactions on Geoscience and Remote Sensing, the study highlights concern for Chile, the world's second-largest lithium producer, as it exploits one of the largest lithium reserves globally.

Lithium

• It is known as White Gold.
• It is a soft, silvery-white alkali metal with atomic number 3.
• It is the lightest metal, least dense solid element which floats on water.
• Chemical Symbol: Li
• It is highly reactive, especially with water, forming lithium hydroxide and hydrogen gas.
• It must be stored in a non-reactive substance like mineral oil.
• Applications
  • Lithium-ion Batteries: The most common application, used in smartphones, laptops, electric vehicles (EVs) and renewable energy storage.
  • Glass and Ceramics: Lithium oxide is used to produce glass and ceramics with high resistance to temperature changes.
  • Grease: Lithium stearate is used as a thickening agent in lubricating grease.
  • Pharmaceuticals: Lithium compounds, such as lithium carbonate, are used to treat bipolar disorder, as they help stabilize mood swings.
  • Alloys: It is used in alloys with aluminum and magnesium to make strong, lightweight materials for aerospace and other industries.
  • Air Purification: Lithium hydroxide is used to remove carbon dioxide from the air in confined spaces, such as spacecraft and submarines.
• Sources
  • Natural Occurrence: It is found in trace amounts in almost all igneous rocks and in mineral springs.
  • Minerals: Such as spodumene and lepidolite.
  • Brine Pools: Salt flats like those in Chile, Argentina and Bolivia (the "Lithium Triangle").
  • Major Producers: Australia, Chile, China, and Argentina

Lithium Brine Extraction

• Chile’s Atacama Desert, which is one of the largest lithium sources in the world.
• Method
• Pumping: Salt-rich water (brine) is pumped from underground aquifers to the surface.
• Evaporation Ponds: The brine is then directed into large evaporation ponds, where solar energy evaporates the water, leaving behind lithium salts.
• Subsidence
• The extraction process can cause subsidence, where the ground sinks due to the excessive pumping of brine.
• This occurs because the rate of brine extraction exceeds the natural recharge rate of the aquifers, leading to a downward movement of the Earth's surface.

35-FT STATUE OF CHHATRAPATI SHIVAJI COLLAPSES IN SINDHUDURG

Why in the News?

A statue of Maratha King Chhatrapati Shivaji Maharaj, unveiled by Prime Minister Narendra Modi at Rajkot Fort (also known as Raja ki Kothi) in Sindhudurg last year, collapsed due to strong winds.

Collapsed Statue of Chhatrapati Shivaji Maharaj

Chhatrapati Shivaji Maharaj

• He was born on 19^th February1630, in Shivneri Fort, near Pune, Maharashtra.
• He was crowned as the king of the Marathas on 6^th June 1674 at Raigad.
• Titles: Chhatrapati, Shakakarta, Kshatriya Kulavantas and Haindava Dharmodhhaarak.
• The Maratha Kingdom founded by Shivaji grew larger over time and became the dominant Indian power in the early 18th century.
• He died on 3^rd April 1680.

Important Battles

General Knowledge

EMINENT PERSONALITIES IN THE NEWS TODAY

Name	Designation	Image
Ravneet Singh Bittu	Union Minister of State for Railways and Food Processing Industries
George Kurian	Minister of State for Fisheries, Animal Husbandry & Dairying
Suresh Gopi	Minister of State for Tourism & Petroleum and Natural Gas
Eknath Sambhaji Shinde	Chief Minister of Maharashtra
Satish Kumar	New Chairman and Chief Executive Officer (CEO) of the Railway Board
Farooq Abdullah	President of Jammu and Kashmir National Conference
Mansukh Laxmanbhai Mandaviya	Union Minister of Labor and Employment; Union Minister of Youth Affairs and Sports.
Tim Cook	Chief Executive Officer of Apple Inc
António Guterres	Secretary-General of the United Nations
Tony Estanguet	President of the Paris Olympics 2024
Jay Shah	New Chairman of International Cricket Council (ICC)
Daniela Chirinos	Venezuelan Olympic Cyclist