This document discusses the V-I characteristics of a PN junction diode under forward and reverse bias conditions. In forward bias, the current increases exponentially with voltage until reaching a knee point, after which it increases rapidly. In reverse bias, a small leakage current flows until the breakdown voltage is reached, causing a large increase in reverse current. The minimum voltage required for forward conduction is called the knee or threshold voltage, which is around 0.3V for germanium diodes and 0.7V for silicon diodes.