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Top Current Affairs 16 January 2025
National Affairs

The Union government has approved the constitution of the Eighth Pay Commission

  • The creation of the Eighth Pay Commission has been authorised by the Union cabinet on January 16, 2025.
  • The commission's findings will benefit the approximately 4 lakh Union government workers in Delhi.
  • The commission's recommendations will benefit 50 lakh Union government workers and 65 lakh pensioners.
  • Eighth Pay Commission, traditionally led by a retired Supreme Court judge, is set to nominate a chairperson soon.
  • Eighth Pay Commission's recommendations will guide wage settlements in public sector initiatives and similar pay modifications in states.
  • Implementing the recommendations is expected to enhance the quality of life for government employees.
  • The Seventh Pay Commission, chaired by Justice A.K. Mathur, began operations in 2014, filed its report in 2016.

 

The NEET-UG exam will no longer be conducted online

  • Union Education Ministry is going to conduct National Eligibility-cum-Entrance Test (NEET-UG) using pen and paper declared on January 16, 2025.
  • National Testing Agency (NTA) and National Medical Commission (NMC) announced that the pen-and-paper method will be retained.
  • The proposal to administer NEET-UG as a computer-based exam has been temporarily postponed.
  • NEET-UG will continue to be an optical mark recognition (OMR) test administered on a single day and shift.
  • The NMC administers NEET-UG on behalf of the NTA.
  • The previous year, over 24 lakh applicants participated in the NEET-UG test.
  • The Ministry has stated that there are no plans to transition the NEET-UG to an online format soon.
Economy and Banking

RBI has announced measures to enhance cross-border transactions in the rupee

  • RBI has implemented liberalised norms to encourage the use of Indian rupee and other local/national currencies on January 16, 2025.
  • RBI signed MoUs with central banks of the United Arab Emirates, Indonesia etc to promote cross-border transactions in local currencies.
  • The RBI introduced the Special Rupee Vostro Account (SRVA) in July, 2022 to boost Indian rupee trade.
  • The RBI has amended FEMA regulations, allowing authorized dealer banks' overseas offices to open INR accounts.
  • INR accounts, such as the Special Non-resident Rupee Account can be utilized by non-residents to settle legitimate transactions.
  • Repatriable INR account balances can now be utilised for overseas investments, such as FDI in non-debt securities.
  • To settle commercial transactions, Indian exporters are now permitted to create accounts in any foreign currency abroad.
Science and Technology

ISRO successfully conducted a satellite docking experiment

  • India became the 4th nations after United States, Russia, and China to successfully complete a satellite docking experiment (SpaDeX) on January 16, 2025.
  • ISRO's Mission Operations Complex (MOX) at the ISRO Telemetry, Tracking, and Command Network (ISTRAC) carried out the operation.
  • Mission aims to showcase the transfer of electrical power between docked spacecraft.
  • The PSLV C60 launched the two satellites, SDX01 (Chaser) and SDX02 (Target), on December 30.
  • Docking Procedure ensures stability by capturing, retracting, and rigidizing the spacecraft, and moving it from a 15-m.
  • ISRO took control of satellites as a single unit upon docking, and subsequent actions included power transfer.
  • SpaDeX showcases essential technology for future missions, including building an Indian space station.

 

Union Cabinet has successfully cleared the third launch pad at Sriharikota

  • Union Cabinet approved the construction of a 3rd launch pad at Satish Dhawan Space Centre in Sriharikota on January 16, 2025.
  • The launch pad is set to be completed by early 2029, with a project budget of 3984.86 crore.
  • The third launch pad is to replace 20-year-old Second Launch Pad to enhancing its launch capabilities.
  • It is designed to meet the evolving needs of space transportation by accommodating heavier class launch vehicles.
  • Its construction is to support upcoming launch of Next Generation Launch Vehicles (NGLVs) starting in 2031.
  • ISRO chairman V. Narayanan has set a goal for India to have its first human spaceflight mission by 2026.
  • The third launch pads will have various configurations, including NGLVs, Launch Vehicle Mark 3 vehicles with semicryogenic stages.

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