CURRENT-AFFAIRS

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• The Chief Economic Advisor recently emphasized that private investors must "walk the talk" when it comes to prioritizing sustainable investments, pointing to the minimal "greenium" observed in India’s sovereign green bond offerings.
• Understanding Greenium:
  • Greenium, or green-premium, represents the cost savings an issuer enjoys on the coupon payments of a green bond, attributable to its green status. It denotes the difference by which the yield on a green bond is lower compared to a conventional bond.
  • Green bonds are financial instruments used to fund projects or activities classified as 'green' according to national or international green standards. These projects might include renewable energy initiatives, electric transportation, or energy efficiency improvements.
  • In the green bond market, there are issuers who seek funds with the promise of regular fixed payments, and investors who provide these funds in exchange for a steady income. The concept of greenium arises because green bonds often attract investors willing to accept lower returns in exchange for the appeal of supporting sustainability. Additionally, green projects, which often focus on long-term benefits, can lower both physical and financial risks, making them financially appealing despite the lower yields offered.

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• Goa Shipyard Limited (GSL) has recently unveiled the first indigenously constructed Talwar-class frigate, named 'Triput'.
• About INS Triput:
  • INS Triput is the inaugural frigate of the Talwar class to be built domestically.
• Project Overview:
  • In October 2016, India and Russia entered into an agreement for the acquisition of four stealth frigates of the Admiral Grigorovich class, also referred to as Project 1135.6 class. Of these, two frigates, 'Tushil' and 'Tamal', will be imported directly, while the remaining two will be constructed in India by GSL through a technology transfer arrangement.
  • INS Triput is the first vessel completed by GSL under this initiative. The second frigate, 'Tamal', is expected to be delivered by February 2025.

The Indian Navy currently operates six Talwar-class frigates: INS Talwar, INS Trishul, INS Tabar, INS Teg, INS Tarkash, and INS Trikand.

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• The Sangameswara temple, located in Nandyal district, was recently submerged in the backwaters of the Srisailam project due to heavy inflows from the Krishna River.
• About Sangameswara Temple:
  • Sangameswara Temple is a historic Hindu shrine dedicated to Lord Shiva, situated in Nandyal district, Andhra Pradesh. Originally positioned on the banks of the Krishna River, the temple was constructed in 740 AD by the Chalukyan ruler Pulakesi II.
  • Originally, the temple stood at the confluence of the Tungabhadra and Krishna Rivers, about 10 kilometers from its present location. Due to the rising waters from the Srisailam Dam’s construction, the original site faced submersion, prompting the temple’s dismantling and reconstruction at its current location in 1979, with the exact rock-to-rock precision.

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• Researchers have recently discovered fossilized magnetic particles, known as magnetofossils, produced by magnetotactic bacteria, within the rock varnish layers in Ladakh, India.
• These magnetotactic bacteria, primarily prokaryotic organisms, align themselves with the Earth's magnetic field. Found in both freshwater and marine environments, these bacteria use the magnetic field to navigate toward areas with optimal oxygen levels. They possess "novel structured particles, rich in iron" contained in small sacs, functioning much like a natural compass.
• The magnetotactic bacteria create minuscule crystals of iron-rich minerals such as magnetite or greigite. These crystals assist the bacteria in adjusting to varying oxygen levels in their aquatic habitats. It is believed that these microbes may represent some of the earliest life forms on Earth.

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• Recently, the Small Industries Development Bank of India (SIDBI) secured approval for $215.6 million in funding from the Green Climate Fund for its ‘Financing Mitigation and Adaptation Projects’ (FMAP) initiative.
• The Green Climate Fund (GCF) is the world's largest dedicated climate fund, established at COP 16 in Cancun in 2010. It functions as an operating entity of the financial mechanism under the United Nations Framework Convention on Climate Change (UNFCCC). The GCF aims to accelerate transformative climate action in developing countries through a country-owned partnership approach, offering flexible financing solutions and leveraging climate investment expertise. The GCF operates as a legally independent institution with a fully independent secretariat, which is led by an Executive Secretary and is based in Songdo, South Korea, where it commenced operations in December 2013.
• What is the Financing Mitigation and Adaptation Project?
  • The FMAP initiative will provide "nearly 10,000 concessional loans to MSMEs" to support the adoption of low-emission and climate-resilient technologies. This program is anticipated to reduce greenhouse gas emissions by approximately 35.3 million tonnes. This marks SIDBI's second project approved by the GCF. The first project, the Avaana Sustainability Fund, is designed to assist startups in accessing climate finance.

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• Scientists have recently verified the discovery of a new jellyfish species, named Santjordia pagesi.
• About Santjordia pagesi:
  • Santjordia pagesi, also known as the St. George’s cross medusa jellyfish, is a newly identified species.
  • It is classified as "rare" and has been observed exclusively in the Sumisu Caldera near the Ogasawara Islands, roughly 600 miles southeast of Tokyo, Japan.
  • The name “Santjordia” is derived from the Catalan term for Saint George, reflecting its cross-shaped stomach.
• Features:
  • This jellyfish is relatively large, measuring about 4 inches in diameter and 3 inches in height.
  • It has a circular body with approximately 240 tentacles.
  • The body is nearly transparent, resembling a cushion with a thick white ring around its lower edge.
  • Fine, vein-like structures extend from its prominent central stomach to the outer ring.
  • The most notable characteristic is its vivid red, cross-shaped stomach.
  • The unique features of this jellyfish suggest it might have a novel type of cnidarian venom.

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• World AIDS Day is commemorated annually on December 1.
• What is HIV/AIDS?
  • Acquired Immunodeficiency Syndrome (AIDS) is a serious, potentially life-threatening condition resulting from the Human Immunodeficiency Virus (HIV). HIV attacks and weakens the body’s immune system, making individuals more susceptible to various infections and illnesses. Without treatment, HIV can progress to AIDS.
• Transmission:
  • AIDS is primarily a sexually transmitted infection (STI).
  • It can also spread through contact with infected blood, including via illicit drug use or needle sharing.
  • Transmission can occur from mother to child during pregnancy, delivery, or breastfeeding.
• Treatment:
  • Currently, there is no cure for HIV; it is a lifelong condition.
  • However, with appropriate medical management, HIV can be controlled. Effective treatment, known as antiretroviral therapy (ART), allows individuals with HIV to lead long, healthy lives and reduce the risk of transmitting the virus to their partners.