Daily Current Affairs MCQs: 25th May 2025 - Bank Exams MCQ

The new Space Activities Bill aims to create a legal framework that facilitates private participation in the space sector, allowing for a regulated environment where private companies can operate. This is essential for fostering innovation and investment in India's growing space economy. The bill also grants statutory authority to IN-SPACe, which will regulate and authorize space activities, ensuring compliance with international treaties and promoting sustainable growth in the industry.

The economic goal associated with the new Space Activities Bill is to significantly increase the valuation of India's space economy from $8.4 billion in 2022 to a targeted $44 billion by 2033. This ambitious target includes generating $11 billion from exports, highlighting the government's commitment to enhancing the space sector's contribution to the economy and positioning India as a competitive player in the global space industry.

The Reserve Bank of India announced a record transfer of ₹2.69 lakh crore to the Central government for the fiscal year 2024-25, reflecting a significant increase compared to the previous year's transfer. This record amount highlights the RBI's growing surplus and its impact on government finances, which is vital for funding various public services and development initiatives.

The Governing Council of NITI Aayog focused on promoting cooperative federalism, emphasizing the need for collaboration between the Centre and states. This approach aims to enhance governance and ensure that policies effectively address the diverse needs of different regions, which is crucial for national development and achieving the goal of a developed India by 2047.

The Supreme Court emphasized the need for permanent consumer redressal bodies to address systemic delays and inefficiencies caused by temporary appointments. By establishing these bodies with full-time presiding officers, the aim is to ensure a more stable and professional environment for justice delivery, which is crucial given the increasing complexity of consumer disputes in the digital age.

Article 37 of the Indian Constitution states that while the Directive Principles of State Policy are not legally enforceable, they are fundamental in guiding the State towards welfare-oriented legislation, including consumer protection laws. This foundation reinforces the moral obligation of the state to create a framework that protects consumer rights, emphasizing the importance of these principles in governance.

Green hydrogen is produced through the process of electrolysis, where water (H₂O) is split into hydrogen (H₂) and oxygen (O₂) using electricity sourced from renewable energy. This method is environmentally friendly as it does not emit greenhouse gases, making the hydrogen produced 'green'. An interesting fact is that electrolysis can be powered by various renewable sources, such as wind or solar energy, emphasizing its sustainability.

Blue hydrogen is produced from natural gas through a method called steam methane reforming (SMR), but it incorporates carbon capture and storage (CCS) to mitigate the carbon emissions associated with the process. This makes blue hydrogen a more environmentally friendly alternative compared to gray hydrogen, which does not capture emissions. An additional fact is that blue hydrogen is often seen as a transitional solution towards fully renewable energy systems.

The closure of land ports between India and Bangladesh is expected to significantly affect trade dynamics, as it restricts the flow of goods and services between the two nations. This decision is viewed as a response to deteriorating diplomatic relations and is likely to have broader geopolitical implications, including impacting trade with neighboring countries like Nepal and Bhutan. The restrictions serve as a diplomatic message, reflecting India's stance on recent actions taken by Bangladesh that have affected Indian exports, emphasizing the interconnected nature of regional trade and diplomacy.

Experts have expressed concerns about the sustainability of the high levels of foreign exchange sales that contributed to the RBI's surplus. There is apprehension that these sales may not continue at the same rate, which could impact future profits and the ability to maintain such high surplus transfers to the government. This highlights the importance of understanding the underlying factors that drive central bank profits and how they can affect fiscal policy in the long run.