UPSC ENGLISH QUIZ 11.08.2025

Explanation

• Reserve Bank of India has taken a significant step in 2025 by issuing the "Reserve Bank of India (Investment in Alternative Investment Funds) Directions, 2025."
• The objective is to make investments by banks, NBFCs, and other Regulated Entities in Alternative Investment Funds more transparent, accountable, and secure.

Main point

• REs refer to banks, NBFCs and All-India Financial Institutions.
• These rules limit how much banks and NBFCs can invest in Alternative Investment Funds.
• A single entity can only contribute up to 10 percent of an AIF scheme. All regulated entities together cannot exceed 20 percent. RBI may exempt certain AIFs from these rules after consulting with the government.
• In a draft circular issued in May 2025, the RBI had proposed a lower cap of 15%, but the final guidelines have revised it to 20%.

Explanation

Recently, at the 15th Conference of Parties (CoP-15) to the Ramsar Convention, held in Victoria Falls, Zimbabwe, India put forward a significant environmental proposal. The theme of the proposal was “Promoting Sustainable Lifestyles for the Wise Use of Wetlands.”

The Ramsar Convention is an international treaty aimed at ensuring the conservation and wise use of wetlands of international importance. It was adopted in 1971 in the city of Ramsar, Iran. India joined the convention in 1982 and currently has 75 Ramsar sites.

Key Highlights of India’s Proposal

Focus on Sustainable Lifestyles

• The proposal integrates the LiFE (Lifestyle for Environment) concept, introduced globally by Prime Minister Narendra Modi in 2021.
• Emphasis on community participation in wetland conservation.

Definition of Wise Use

• Encouraging wetland use in a manner that maintains ecosystem health while also supporting local livelihoods.

Tool to Combat Climate Change

• Recognising wetlands as carbon sinks and natural buffers that help mitigate the impacts of climate change.

Explanation

• India received back a portion of sacred Buddhist relics that had been excavated in northern India in 1898 and preserved in a foreign collection. This event holds significance in the context of India’s Cultural Repatriation policy and international cooperation.

Excavation of 1898: The relics were discovered during the excavation of an ancient Buddhist stupa in northern India.Export During Colonial Era: They were taken abroad during the British colonial period and kept in a foreign museum.Cultural Heritage: These relics are linked to the early phase of Buddhism and are associated with the memory of Gautama Buddha and his followers.

Process of Return

• Bilateral Cultural Agreement: The return was facilitated under a framework of cultural cooperation between India and the concerned country.
• Archaeological Survey of India (ASI): The relics will now be preserved under the care of ASI.
• International Conventions: This step aligns with the spirit of the 1970 UNESCO Convention on the restitution of cultural property.

Explanation

• Directorate of Film Festivals, Ministry of Information and Broadcasting announced the winners of the 71st National Film Awards, honoring films released in 2023. The National Film Awards are India's most prestigious cinema honors, which began in 1954.
• Their aim is to promote excellence in Indian cinema and give national recognition to films from different languages and regions.
• The awards are selected by a jury panel, which consists of experienced actors, directors and technical experts from the film field.

Key Awards in Non-Feature Films Section

• Best Non-Feature Film: Flowering Man
• Best Debut Film of a Director: Mau: The Spirit Dreams of Cheraw
• Best Documentary: God Vulture and Human
• Best Non-Feature Film Promoting Social and Environmental Values: The Silent Epidemic
• Best Direction: The First Film
• Best Cinematography: Little Wings

Key Awards in Feature Films Section

• Best Feature Film: 12th Fail
• Best Actor: Shah Rukh Khan (Jawan) and Vikrant Massey (12th Fail).
• Best Actress: Rani Mukerji (Mrs. Chatterjee Vs Norway).
• Best Supporting Actor: Vijayaraghavan and Muthupettai Somu Bhaskar.
• Award for Best Popular Film Providing Wholesome Entertainment: Rocky Aur Rani Kii Prem Kahaani
• Best Children’s Film: Naal 2

Explanation

• India Became World’s 5th Largest Aviation Market in 2024.
• India has officially become the fifth-largest aviation market globally, handling over 211 million passengers in the year 2024.
• This information has been released in the latest edition of the World Air Transport Statistics (WATS) for 2024 by the International Airport Transport Association (IATA).
• Passenger traffic in India grew by 11.1% in 2024 compared to the previous year, placing it ahead of Japan.
• Japan recorded 205 million passengers with an annual rise of 18.6%, while the US retained the top spot with 876 million passengers in 2024 on the strength of its domestic market, growing 5.2% year-on-year.
• China and the UK followed as the second and third biggest markets, with 741 million and 261 million passengers, respectively.
• Spain held the fourth position, recording 241 million air passengers in the calendar year.
• All international and domestic passengers departing from or arriving in each country were included in these figures.
• Among the top 10 air routes, the Mumbai-Delhi route is the seventh busiest, carrying 5.9 million passengers in 2024.
• The Asia-Pacific region topped the ranking of the world's busiest air routes, with the Jeju-Seoul route being the most popular globally with 13.2 million passengers in 2024.