CURRENT-AFFAIRS

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• After a hiatus of four-and-a-half years, the National Tiger Conservation Authority (NTCA) has given the go-ahead for the resumption of India’s first major big cat relocation initiative in Satkosia Tiger Reserve.
• About Satkosia Tiger Reserve:
  • Location: Nestled in the heart of Odisha, the reserve spans across four districts: Angul, Cuttack, Boudh, and Nayagarh. It integrates two adjacent sanctuaries: Baisipalli Sanctuary and Satkosia Gorge Sanctuary.
  • Size: Covering 1136.70 square kilometers, with 523.61 square kilometers designated as the core area, Satkosia is also a component of the Mahanadi Elephant Reserve.
  • Geographical Significance: Satkosia lies at the convergence of two major biogeographic regions of India: the Deccan Peninsula and the Eastern Ghats.
  • Landscape: The terrain is characterized by its hilly nature, featuring moderate to steep slopes and narrow valleys. The Mahanadi River meanders through the reserve’s central valleys. Elevation ranges from 37 meters at Katrang to 932 meters at Sunakhania.
  • Vegetation: The area is covered with North Indian tropical moist deciduous forests and Moist peninsular low-level sal.
• Flora:
  • Dominant tree species include sal, which grows in dense formations.
  • Other notable species are Asan (Terminalia alata), Dhaura (Anogeissus latifolia), Bamboo (Dendrocalamus strictus), and Simal (Bombax ceiba).
• Fauna:
  • The reserve supports a modest population of tigers, leopards, elephants, spotted deer, sambar, chowsingha, barking deer, bison, wild dogs, sloth bears, jackals, giant squirrels, and porcupines.
  • It serves as a natural habitat for the endangered freshwater crocodile and the gharial.

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• A group of oceanographers has recently uncovered and charted a new seamount on the Nazca Ridge, situated in international waters about 900 miles from the Chilean coast.
• About the Nazca Ridge:
  • Location: This submarine ridge is positioned in the southeastern Pacific Ocean, offshore from South America.
  • Dimensions: It stretches roughly 1,100 kilometers (684 miles) in length, with varying width.
  • Extent: The ridge extends from the Nazca Plate near the Peruvian coast and stretches southwestward towards Easter Island, Chile.
  • Formation: The ridge originated from volcanic activity linked to a hotspot in the Earth's mantle.
  • Composition: It features unusually thick basaltic oceanic crust.
  • Tectonic Activity: The ridge is tectonically active and is currently being subducted beneath the South American Plate at the Peru-Chile Trench.

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• The President of Ukraine has recently announced the successful testing of the country’s first ballistic missile, the Hrim-2, developed by Ukraine’s defense sector.
• About the Hrim-2:
  • Overview: The Hrim-2, also known as Grim, Grom, or OTRK Sapsan, is a Ukrainian short-range ballistic missile system designed to integrate the capabilities of a tactical missile system with those of a multiple rocket launcher.
  • Range: The export version of the Hrim-2 is restricted to a range of 280 kilometers to comply with the Missile Technology Control Regime's 300-kilometer limit. For Ukrainian military use, however, the missile’s range has been extended to 700 kilometers.
  • System Components: The Sapsan system includes a 10-wheeled Transporter-Erector-Launcher (TEL) that can transport and launch two containerized missiles simultaneously.
  • Capabilities: With its aero-ballistic design, the Hrim-2 is equipped to evade modern air defense systems such as the S-300 and S-400, and bears similarities to the Russian 9K720 Iskander missile system.

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• The Sri Lankan President recently defended the International Monetary Fund (IMF) bailout during his re-election campaign.
• About the International Monetary Fund (IMF):
  • Overview: The IMF is a specialized agency of the United Nations, established at the Bretton Woods Conference in 1944, in the wake of the Great Depression of the 1930s.
  • Objectives: Its primary goals include fostering global monetary cooperation, maintaining financial stability, facilitating international trade, encouraging high employment and sustainable economic growth, and alleviating poverty.
  • Functions: The IMF monitors the economic performance of its member countries, identifies potential risks, and offers policy advice. It provides financial assistance to countries facing balance-of-payments issues and delivers technical support and training to enhance economic management.
  • Conditionality: IMF financial aid often comes with conditions requiring recipient countries to implement reforms aimed at improving economic growth and stability.
  • Membership: The IMF has 190 member countries and is headquartered in Washington, DC.
• Structure:
  • Board of Governors: At the top is the Board of Governors, consisting of one governor (typically the finance minister or central bank governor) and an alternate governor from each member country. This board holds all IMF powers.
  • Executive Board: Daily operations are overseen by the 24-member Executive Board, which represents all member countries and is supported by IMF staff.
  • Managing Director: The Managing Director leads the IMF staff, chairs the Executive Board, and is assisted by four Deputy Managing Directors. The role is traditionally held by a European.
  • Departments: The IMF has 18 departments responsible for its various functions, including country analysis, policy development, and technical work.
  • Quotas: Each member contributes a financial quota based on their wealth and economic performance, reviewed every five years. The quotas determine borrowing limits and voting power within the IMF, with the U.S., as the largest economy, being the largest contributor.
  • Voting Power: Voting power in the IMF is influenced by quotas, with each vote corresponding to 100,000 Special Drawing Rights (SDRs) of quota plus basic votes. SDRs are an international reserve asset created by the IMF to supplement the monetary reserves of member countries.

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• Mastercard, a leading global payments technology company, has announced the global rollout of its new Payment Passkey Service.
• About Payment Passkey Service:
• Technology: The service utilizes device-based biometric authentication methods, such as fingerprint recognition or facial scans, eliminating the need for one-time passwords (OTPs) for transaction verification.
• Functionality: Passkeys operate by using advanced algorithms to encrypt data, allowing users to confirm their identity quickly and securely. When users first log into an account, their device generates a pair of keys: a public key shared with the website for validation and a private key stored on the device to access the account.
• Cross-Device Compatibility: Once a passkey is set up on one device, it can be used across other devices running the same operating system. For example, a passkey configured on a smartphone can be utilized for logging in from a laptop or tablet.
• Benefits: By replacing traditional passwords and OTPs, the Mastercard Payment Passkey Service enhances both speed and security for transactions, providing better protection against fraud and scams.
• Usage: Payment passkeys simplify and secure the authentication process for cardholders during e-commerce transactions on websites and merchant apps, offering a more efficient alternative to conventional methods.