19th FEBRUARY, 2025 A.) Deposit Insurance Cover Increase Why in News? The government is considering raising the insurance cover for bank deposits beyond the current limit of ₹5 lakh. Background • Deposit insurance was introduced in India in 1962. • The coverage has been enhanced six times, from ₹1,500 per depositor to ₹5 lakh. Details Deposit Insurance and Credit Guarantee Corporation (DICGC): • A subsidiary of the Reserve Bank of India (RBI) responsible for insuring bank deposits. • Protects small depositors in case of bank failure. Coverage and Scope: • Provides insurance cover of ₹5 lakh per depositor, covering savings, fixed, current, and recurring deposits. • Insures all commercial banks, foreign bank branches in India, local area banks, regional rural banks, and cooperative banks (excluding primary cooperative societies). • Does not cover deposits of foreign, central, and state governments, or inter-bank deposits. • Premiums for deposit insurance are paid by the insured banks. Functioning of Insurance Coverage: • Legal Framework: In 2021, Section 18A was added to the DICGC Act, 1961, ensuring depositors receive interim payments within 90 days if RBI imposes restrictions on a bank. • Claim Settlement: o If a depositor has ₹4,99,800 (₹4,90,000 principal + ₹9,800 interest), the full amount is insured. o If the principal exceeds ₹5 lakh, interest is not covered. o In case of bank liquidation, DICGC settles claims within two months of receiving the liquidator’s list. B.) Water Gaps and India’s Water Crisis Why in News? A report highlights the growing global and India-specific water gaps—differences between renewable water availability and consumption—due to climate change, overuse, and poor management. Background • Water gaps exist across all continents, totaling 458 billion cubic meters per year. • Rising global temperatures will worsen water shortages, though some regions may benefit from changing precipitation patterns. Details Global Water Gap Findings • Climate change will intensify water stress, especially at 1.5°C and 3°C warming scenarios. • Some countries, like Nigeria, may see reduced water gaps due to increased rainfall. India-Specific Findings • India, along with the US and China, faces the largest water gaps. • Warming scenarios project significant increases in water gaps, particularly in the Ganges-Brahmaputra and Godavari river basins. Status of Water Resources in India • India has 18% of the global population but only 4% of its water resources. • Over 600 million people already face severe water shortages. • By 2030, water demand is projected to double available supply, potentially leading to a 6% GDP loss (NITI Aayog). Factors Driving the Water Crisis • Overpopulation & Over-extraction of groundwater. • Water contamination & pollution. • Poor water management & inefficient usage. • Climate change & unpredictable rainfall patterns. Measures Undertaken for Water Conservation 1. National Water Mission – Promotes integrated water resource management to conserve water and minimize wastage. 2. Atal Bhujal Yojana – Focuses on sustainable groundwater management through community participation. 3. Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) – Aims to improve farm water efficiency and promote sustainable irrigation practices. 4. National Hydrology Project – Enhances water resource management through improved monitoring and data collection. India’s water crisis requires urgent policy interventions, sustainable management practices, and community participation to ensure long-term water security.   C.) PM Modi's Visit to ITER, France Why in News? Prime Minister Narendra Modi, during his visit to France for an AI summit, toured the International Thermonuclear Experimental Reactor (ITER) in Cadarache, marking the first visit by a Head of State or Government to the facility. Background • ITER is an international project aimed at demonstrating the feasibility of nuclear fusion as a large-scale and carbon-free energy source. • It is one of the most ambitious energy projects globally, with 33 nations, including India, collaborating. Details What is ITER? • ITER stands for International Thermonuclear Experimental Reactor. • It is a magnetic fusion device designed to replicate the process that powers the Sun and stars. • The project is currently under construction in Cadarache, France. Key Features of ITER • Seven core members: China, India, the European Union, Japan, Korea, Russia, and the United States. • Expected to start deuterium-tritium fusion reactions by 2039, producing 500 MW of fusion power. • ITER itself will not generate electricity, but it will serve as a proof-of-concept for future commercial fusion power plants. Scientific and Energy Significance • ITER’s primary goal is to demonstrate "burning plasmas", where helium nuclei from fusion maintain the high temperatures needed for the reaction, reducing reliance on external heating. • Success in magnetic confinement fusion could lead to clean, limitless energy, reducing dependence on fossil fuels. PM Modi’s visit highlights India’s role in advanced energy research and strengthens global collaboration in fusion energy development. D.) India-Qatar Relations: Strengthening Strategic Partnership Why in News? During the state visit of the Amir of Qatar to India, both countries elevated their partnership, focusing on trade, energy, investments, technology, food security, and people-to-people ties. The goal is to double bilateral trade to $28 billion in five years. Background • India and Qatar share strong diplomatic, economic, and cultural ties. • Qatar is a key energy supplier to India, and the nations collaborate on defense, trade, and investment. Details Key Outcomes of the Visit 1. MoUs Signed: o Double taxation avoidance and fiscal evasion prevention. o Business and investment cooperation through agreements between:  Qatari Businessmen Association & Confederation of Indian Industry (CII).  Invest Qatar & Invest India to enhance trade and investment. India-Qatar Ties Economic Ties • Bilateral trade: $14.08 billion (2023-24), with India having a trade deficit. • India is among Qatar’s top three export destinations and a key import source (2022-23). Energy Cooperation • Qatar is India's largest LNG supplier, accounting for over 40% of India's LNG imports. Defense Relations • India-Qatar Defense Cooperation Agreement extended for five years (2018). • Joint naval exercise: Za’ir Al Bahr. • India participates in Doha International Maritime Defense Exhibition and Conference (DIMDEX). Cultural Relations • Cooperation under the 2012 Agreement on Cultural Cooperation. • The Indian Cultural Centre actively promotes cultural exchanges in Qatar. People-to-People Ties • The Indian community in Qatar is over 830,000, contributing to strong cultural and economic ties. Conclusion The visit strengthened strategic cooperation, enhancing trade, investment, energy, defense, and cultural ties, reinforcing India-Qatar relations for long-term growth.   E.) India’s First Biennial Transparency Report (BTR) Why in News? India is in the final stages of preparing its first-ever Biannual Transparency Report (BTR) under the Paris Agreement’s Enhanced Transparency Framework (ETF). Background • The Biennial Transparency Report (BTR) is a reporting mechanism established under the Paris Agreement (2015) to enhance transparency in climate action. • All signatories of the Paris Agreement must submit BTRs to provide updates on greenhouse gas (GHG) emissions, climate actions, and adaptation efforts. • Countries started submitting BTRs in 2024 (COP in Baku). However, several nations, including India, missed the December 2024 deadline. Details Key Takeaways • India’s BTR will present an official record of: o Greenhouse gas emissions inventory (sources and key sectors). o Steps taken to improve energy efficiency. o Transition to renewable energy sources. o Availability of required resources for climate mitigation. • Unlike previous National Communications and Biennial Update Reports (BURs), the BTR will undergo technical review by independent, UNFCCC-accredited international experts. Key Components of the BTR 1. National Inventory Report (NIR): o A detailed account of GHG emissions and removals. 2. Progress on Nationally Determined Contributions (NDCs): o Updates on India’s commitments to reduce emissions. 3. Policies and Measures: o Information on government strategies to combat climate change. 4. Climate Change Impacts and Adaptation: o Observed climate impacts and adaptation actions taken. 5. Support Provided and Received: o Details on financial, technological, and capacity-building assistance. 6. Capacity-Building Needs and Areas for Improvement: o Identifies gaps where India needs more support for effective climate action. Conclusion India’s BTR will strengthen climate accountability and demonstrate its commitment to climate action, transparency, and global cooperation under the Paris Agreement.   F.) Peatlands and Their Significance Why in News? A recent study has highlighted the limited protection of peatlands, despite their crucial role in carbon storage, biodiversity conservation, and climate regulation. What are Peatlands? • Peatlands are terrestrial wetland ecosystems where waterlogged conditions prevent plant material from fully decomposing. • This leads to an accumulation of organic matter, forming peat over time. Key Findings of the Study 1. Limited Protection of Peatlands • Only 17% of global peatlands fall under protected areas. • Strict protection covers just half of these protected peatlands. 2. Variation in Protection Across Biomes • Boreal Peatlands: Only 16% protected. • Temperate Peatlands: 27% protected. • Tropical Peatlands: 27% protected, but only 8% under strict protection. 3. Regional and Country-Level Disparities • China and India have higher peatland protection compared to other nations. 4. Peatlands Are Underprotected Compared to Other Ecosystems • Mangroves: 42% protected. • Salt Marshes: 50% protected. • Tropical Forests: 38% protected. Significance of Peatlands 1. Largest Carbon Store on Land o Peatlands cover just 3% of Earth's land surface but store more carbon than all forests combined. 2. Natural Buffer o Act as natural water filters and provide protection against floods and droughts. 3. Biodiversity Conservation & Livelihood Protection o Habitat for freshwater fish and endangered species. o Supports local communities by providing food, fuel, and resources. Threats to Peatlands 1. Drainage and Land Conversion o Damaged peatlands contribute to 5% of global CO₂ emissions. 2. Overgrazing o In mountainous regions, excessive grazing damages peatlands. 3. Peat Extraction o Used for fuel and horticulture, leading to habitat destruction. Initiatives for Peatland Conservation 1. Global Peatland Initiative (UNEP) o A UN-led initiative for accelerating conservation efforts worldwide. 2. Ramsar Convention (1971) o An international treaty focused on wetland conservation, including peatlands. 3. Wetlands Rejuvenation Programme (India, 2020) o Launched by MoEFCC to restore 500+ wetlands across India. 4. Amrit Dharohar Scheme (Union Budget 2023-24) o Aims at optimizing wetland utilization while ensuring conservation. Conclusion Peatlands play a vital role in climate mitigation, biodiversity conservation, and disaster resilience. Strengthening legal protection, restoration efforts, and sustainable management is essential for preserving these crucial ecosystems.