BrainBuzz Academy

Why in the news?
The United Kingdom became the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.
Key Takeaways:
The previous British government signed the accession treaty last year, with most members of the bloc having since ratified the UK's entry.
Officials hope membership could boost Britain's struggling economy by as much as $2.5 billion (roughly €2.4 billion) per year. 
The country is trying to strike new trade deals abroad in the aftermath of leaving the European Union following its 2016 referendum on Brexit, with EU member states still accounting for over 40% of UK exports and more than 50% of imports.
Deal inked under previous Conservative government:
The previous Conservative government signed Britain up in July 2023, with then Business and Trade Secretary Kemi Badenoch — now the leader of the opposition with Labour in power — calling it "the biggest trade deal" since the UK left the European Union. 
Britain has secured a number of trade deals, including with Australia, New Zealand and Singapore since leaving the EU's single market at the start of 2021. Critics, however, contend that Brexit's economic impact dwarfs that of these deals.
What is the CPTPP? 
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership had 11 members before the UK: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The CPTPP was salvaged from the ashes of the planned Trans-Pacific Partnership (TPP) bloc — which was supposed to also include the US — after Washington withdrew soon after the 2016 election of Donald Trump. 
It retained most of the provisions of that deal, and lowers trade barriers between member states on a variety of goods. However, the pact offers far less comprehensive free trade than the uninhibited movement of goods and services with EU member states. 
The bloc is seen as something of an economic counterweight to China in the Pacific region, though China is also one of several applicants currently seeking membership. Combined, its members currently account for roughly 15% of global GDP and a population of around half a billion. 
IN SHORT:
The United Kingdom became the 12th member and first European member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP. 
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership had 11 members before the UK: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Why in the news?
In a significant move to support the agricultural sector and address rising input costs, the Reserve Bank of India has announced an increase in the limit for collateral-free agricultural loans, including loans for allied activities. The existing loan limit of ₹1.6 lakh per borrower has been raised to ₹2 lakh.
Aim:
It aims to provide enhanced financial access to farmers, ensuring they have sufficient resources to meet their operational and developmental needs without the burden of providing collateral.
Effective January 1, 2025, banks across the country are instructed to:
Waive collateral security and margin requirements for agricultural loans, including loans for allied activities, up to ₹2 lakh per borrower.
Expeditiously implement the revised guidelines to ensure timely financial assistance to the farming community.
Banks are instructed to provide widespread publicity to these changes to ensure maximum outreach and awareness among farmers and stakeholders of their operational area.
Kisan Credit Card (KCC) Loans & Interest Subvention Scheme:
This move enhances credit accessibility, particularly for small and marginal farmers (over 86% of the sector), who benefit from reduced borrowing costs and the removal of collateral requirements. By streamlining loan disbursement, the initiative is expected to increase the uptake of Kisan Credit Card (KCC) loans, allowing farmers to invest in agricultural operations and improve their livelihoods.
Combined with the Modified Interest Subvention Scheme, offering loans up to ₹3 lakh at a 4% effective interest rate, this policy strengthens financial inclusion, supports the agricultural sector, and fosters credit-driven economic growth, aligning with the government’s long-term vision for sustainable agriculture.

IN SHORT:
RBI Increases Collateral-Free Agricultural Loan Limit from ₹1.6 to ₹2 Lakh
Effective January 1, 2025, banks across the country
By streamlining loan disbursement, the initiative is expected to increase the uptake of Kisan Credit Card (KCC) loans, allowing farmers to invest in agricultural operations and improve their livelihoods.

Useful information for all competitive exams:
Kisan Credit Card (KCC): KCC is a financial product for farmers. It provides credit for agricultural activities. The card simplifies loan access and supports farmers’ financial needs.
Modified Interest Subvention Scheme: This scheme offers loans at a reduced interest rate. It supports farmers by easing financial burdens. Loans up to ₹3 lakh are available under this initiative.
Collateral-Free Loans: These loans do not require assets as guarantees. They aim to assist small farmers. This initiative enhances financial inclusion and accessibility for land-poor farmers.
Reserve Bank of India (RBI):
Headquarters: Mumbai, Maharashtra
Established: 1 April 1935
Governor (26th): Sanjay Malhotra
Deputy Governors: M. Rajeshwar Rao, Swaminathan J, T. Rabi Sankar, Dr. M.D. Patra

Why in the news?
In Hockey, India won the Women's Junior Asia Cup 2024 championship in Muscat, Oman. In the title clash, the Indian team defeated China 3-2 in a penalty shootout to successfully defend its title.
Key Takeaways:
📍Indian goalkeeper Nidhi made three crucial saves during the penalty shootout, while Sakshi Rana, Ishika and Sunelita Toppo scored for India in the shootout.
📍Earlier, Jinzhuang Tan scored the opening goal for China with Kanika Siwach equalised in the third quarter for India. After a 1-1 draw in regulation time, the title clash went to a shootout.
📍Hockey India has announced a reward of 2 lakh rupees for each player and 1 lakh rupees to each support staff for their efforts and spectacular win.
📍India's Deepika Sehrawat, with 12 goals ranked the top scorer of the tournament. India won their maiden Women's Hockey Junior Asia Cup title last year by defeating the Republic of Korea.
📍This tournament served as a qualifier for the FIH Women’s Hockey Junior World Cup 2025 in Chile. The top five teams, including India, secured spots in the prestigious event. Deepika Sehrawat was the tournament’s leading scorer, netting 12 goals throughout the competition.

IN SHORT:
In Hockey, India won the Women's Junior Asia Cup 2024 championship.
Runner Up: China
Venue: Muscat, Oman
This tournament served as a qualifier for the FIH Women’s Hockey Junior World Cup 2025 in Chile.
India won their maiden Women's Hockey Junior Asia Cup title last year by defeating the Republic of Korea.

Useful information for all competitive exams:
About 2024 Women's Hockey Junior Asia Cup:
Host country: Oman
City: Muscat
Dates: 7–15 December
Teams: 10
Venue(s): Hockey Oman Stadium
Champions:  India (2nd title)
Runner-up: China
Third place: South Korea

Why in the news?
Georgia has recently witnessed a political shift with the election of Mikheil Kavelashvili as the new president. His election comes amidst rising discontent regarding the government’s decision to postpone the country’s European Union accession until 2028. Kavelashvili, a former footballer and member of the ruling Georgian Dream party, was the sole candidate for the presidency and received overwhelming support from parliament.
Football Career to Politics:
Before politics, Kavelashvili had a career as a professional soccer player that started in 1988 and included stints as a striker with Manchester City as well with the national football team and clubs in Switzerland. In 2022 he co-founded an anti-western faction called People’s Power, though its lawmakers ran on the Georgian Dream ticket in 2024.
Outgoing President’s Reaction:
Salome Zourabichvili, the outgoing president and a supporter of the opposition, has publicly condemned the election results. She argues that the process undermines democratic principles and raises concerns about the future of governance in Georgia. Kavelashvili is scheduled to be sworn in on the 29th of this month, marking the beginning of his presidency amid ongoing political tensions.

Useful information for all competitive exams:
Georgia:
Georgia is a transcontinental country in Eastern Europe and West Asia.
Capital: Tbilisi
Government: Unitary parliamentary republic
Out Going President: Salome Zourabichvili
Newly Elected President: Mikheil Kavelashvili
Prime Minister: Irakli Kobakhidze
Currency: Georgian lari (₾) (GEL)

Why in the news?
Zakir Hussain, one of the most celebrated tabla virtuosos of all time, passed away at the age of 73 in San Francisco due to complications arising from idiopathic pulmonary fibrosis.
About Zakir Hussain:
The table maestro died at a San Francisco hospital due to complications arising out of idiopathic pulmonary fibrosis. 
Born on March 9, 1951, in Mumbai, Zakir was awarded the Padma Shri in 1988, Padma Bhushan in 2002 and Padma Vibhushan in 2023.
He had his early education at St Michael’s School in Mahim and graduated from St Xavier’s College, both in Mumbai. During his early days, he used to travel by train, and if he could not find a seat, he would spread newspapers on the floor and sleep. During such journeys, so that no one’s feet touched his tabla, he used to sleep with the musical instruments in his lap, as per PTI.
The Avanaddha Vadya or Membranophones (Percussion instruments):
In the Avanaddha Vadya category of instruments, the sound is produced by striking the animal skin which has been stretched across an earthen or metal pot or a wooden barrel or frame.
Tabla: The tabla is a pair of hand-played drums that are central to North Indian classical music. It consists of two drums, the smaller “dayan” and the larger “bayan.”