Karnataka High Court ordered the release of a convict on parole under extraordinary circumstances.

About Parole

• Parole means temporary release of a convict for short period of time for attending to familial and social obligations (like death in family).
• It is not a matter of right. 
• It is covered under Prisons Act of 1894 and Prisoner Act, 1900.
• Since Prisons is a State subject, Prisons Act of each state government defines rules under which parole is granted in that state.
• Prisoners convicted of multiple murders or under anti-terror Unlawful Activities Prevention Act are not eligible for parole.

SEBI has formed a committee under Usha Thorat to review ownership and economic structure of clearing corporations.

Clearing Corporation (CC)

• It is an entity which handles the activity of clearing and settlement of trades in securities or other instruments that are traded on stock exchanges.
• CCs along with stock exchanges and depositories constitute Market Infrastructure Institutions. 
• CCs are significant as central risk management institutions and as a first line regulator. 
• Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations (SECC)) Regulations, 2018 lays down norms for ownership and governance framework of CCs. 

Recently SEBI imposed a fine on some individuals for allegedly operating a ‘pump and dump’ scheme.

• It was operated by recommendations shared through Telegram channels, resulting in public shareholders purchasing stock at inflated prices.

About Pump and Dump Scheme:

• A manipulation activity involving artificially inflating a stock's price through false and misleading information/recommendations.
  • It is done only to sell stock at an inflated price.
• Prevalent in micro-cap and small-cap sectors due to limited public information and lower trading volumes.
• Impact: Undermine confidence in financial markets, and substantial losses to investors.
• Regulation: Under SEBI’s guidelines, it is completely banned.

Prime Minister of Nepal completed the last blast of Head Race Tunnel of Arun-3 Hydro Electric Project in Nepal. 

About Arun-3 Hydro Electric Project

• It is a 900 MW run-of-the-river hydropower project on Arun River in Sankhuwasabha district of Eastern Nepal.
  • Run-of-the-river is hydroelectric system that harvest energy from flowing water to generate electricity in absence of a large dam and reservoir.
• SJVN Arun-III Power Development Company (SAPDC), wholly-owned subsidiary of India’s Satluj Jal Vidyut Nigam, is developing it on Build-Own-Operate-Transfer basis. 
  • SAPDC will operate for 25 years, excluding construction period of five years, before transferring ownership to Nepal government.

• Recently, EPI 2024 has been published by the Yale Center for Environmental Law & Policy.

About EPI, 2024: 

• Using 58 performance indicators across 11 issue categories, EPI ranks 180 countries on climate change performance, environmental health, and ecosystem vitality.
  • Estonia tops the list.

India-related Findings:

• India has been ranked 176.
• India is currently the world’s third-largest GHG emitter, with total emissions growing 32 percent over the past decade.
• In 2022, India surpassed China as the world’s largest emitter of anthropogenic sulfur dioxide.

This report is issued annually by the World Meteorological Organization (WMO) and it provides a synthesis of the global annual to decadal predictions.

Highlights of Report

• 80% likelihood that annual average global temperature will temporarily exceed 1.5°C above pre-industrial levels for at least one year between 2024-2028.
• 86% chance that at least one year between 2024-2028 will be warmer than 2023, present warmest year on record.  
• Predicts reductions in sea-ice concentration in the Barents Sea, Bering Sea, and Sea of Okhotsk.

Recently, researchers found that marine fungus Parengyodontium album can break down the plastic polyethylene after being exposed to UV radiation.

• Such plastic degrading microorganisms can be utilized for bioremediation of plastics. 

Bioremediation 

• It is the process of reduction & elimination of contaminants present in the natural environment like soil, water through the application of microorganisms.
• Researchers have found various plastic degrading bacteria and fungi that can be used for bioremediation of plastics. 
• Advantages: minimal disruption of ecosystem, permanent elimination of contaminants, cheap operation costs etc. 

It was released by Quacquarelli Symonds (QS), a leading network of experts in education sector. 

QS World University Rankings (WUR), 2025

• It is based on 9 Performance indicators i.e.
  • Academic Reputation, Employer Reputation, Faculty Student Ratio, Citations per Faculty, International Faculty Ratio, International Student Ratio, International Research Network, Employment Outcomes, and Sustainability.
• Indian Institute of Technology Bombay (IIT-B) ranked at 118.
• Massachusetts Institute of Technology (MIT) USA topped for 13th consecutive year.