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Posted 06 Aug 2024

8 min read

Front Running

SEBI notifies norms for mutual funds for preventing fraudulent transactions and front running.

Front Running 

  • Refers to usage of non-public information to directly or indirectly buy or sell securities, or enters into options or futures contracts, in advance of a substantial order. (Securities and Exchange Board of India (SEBI))
  • It undermines confidence in the financial markets and creates an uneven playing field for other investors.
  • It is illegal in India
  • Tags :
  • SEBI
  • Front Running

World Craft City

Recognition of Srinagar as World Craft City (WCC) by the World Crafts Council has provided opportunities to the craftsmen to enhance their skills and roots. 

  • Srinagar is one of four WCC in India (others being Jaipur, Mamallapuram, and Mysore), and among 60 around the globe.

WCC

  • Launched in 2014 by World Crafts Council- International.
  • Establishes a dynamic network of craft cities across the globe, aligning with the principles of creative economy.
  • Recognizes the role of local authorities, craftspeople, and communities in cultural, economic, and social development worldwide.
  • Tags :
  • World Craft Council
  • World Craft City

Mudra loans

The Finance Minister held that  the non-performing assets (NPA) associated with Mudra loans have come down  to 3.4% (2023-24) from 4.77%  (2020-21).

Mudra (Micro Units Development & Refinance Agency) Loans

  • Given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs to the non-corporate, non-farm small/micro enterprises.
  • Given under the Pradhan Mantri MUDRA Yojana (PMMY), 2015.
    • PMMY aims to bring small entrepreneurs within the formal financial system.
  • Classified into three categories: Shishu, Kishor, Tarun.
    • In Budget 2024, the limit of MUDRA loans has been increased from Rs 10 lakh to Rs 20 lakh for those who have successfully repaid loans taken under tarun.
  • Tags :
  • Financial Inclusion
  • Mudra Loan
  • Pradhan Mantri MUDRA Yojana (PMMY)

Astra missile

Air Force approves production of 200 Astra Mark 1 missile

About Astra Missiles

  • It is a Beyond Visual Range (BVR) class of Air-to-Air Missile (AAM) system designed to be mounted on fighter aircraft. 
    • The ASTRA Mk-I Weapon System integrated with SU-30 Mk-I aircraft is being inducted into the Indian Air Force (IAF).
  • It has range from 80 to 110 km.
  • The missile is designed to engage and destroy highly manoeuvring supersonic aircraft.
  • It is developed by the Defence Research and Development Organisation and manufactured by Bharat Dynamics Limited.
  • Tags :
  • Missile
  • DRDO
  • Astra Missile

Demands for Grants

Lok Sabha recently passed outstanding Demands for Grants from Union Budget 2024-25

About Demand for Grants

  • Form in which estimates of expenditure from consolidated fund included in budget are presented to Lok Sabha. .
  • DFGs are submitted in pursuance of Article 113 of Constitution.
    • Article 113 (iii) says No demand for a grant shall be made except on the recommendation of the President.
  • Once DFGs are approved (with or without modifications), they become part of the Appropriation Bill. 
  • Bill once passed , allows government to withdraw funds from Consolidated Fund of India to meet its expenses and liability.
  • Tags :
  • Demand for Grants
  • Article 113

Methanotrophs

Agharkar Research Institute has described India’s first cultures of indigenous methanotrophs named Methylocucumis oryzae.

  • Name ‘methane eating cucumbers’ has been given to this novel genus.

About Methanotrophs (Methane-utilizing bacteria)

  • These bacteria oxidize methane and build up their biomass.
  • Habitat: Wetlands, rice fields, ponds and other water bodies
  • Biofiltering: These bacteria can oxidize methane produced in anaerobic environments.
    • When oxygen is present in soils, atmospheric methane is also oxidized.
    • These bacteria are natural methane mitigating agents.
  • Significance: Tackling Global Warming by reducing methane concentration in soil & atmosphere.
  • Tags :
  • Methane emission
  • Methanotrophs
  • Biofiltering

Zinc Air Battery

CSIR develops durable batteries for energy solutions in remote sub-zero conditions.

Zinc Air Batteries

  • Type of metal-air battery that consists of a zinc negative electrode and an air (oxygen) positive electrode.

CSIR developed Zinc air Battery: 

  • It has been developed by combining an efficient durable cathode catalyst and an anti-freezing electrolyte fabricated for zinc-air batteries. 
  • It used CoFe/Fe3C alloy/carbide hybrid structure which enhances durability and efficacy in both liquid and solid-state zinc-air batteries.
  • Benefits: portable, flexible, lightweight and can be used in extreme cold conditions.
  • Tags :
  • Metal Air Battery
  • Zinc Air Battery

PARIVESH Portal

Centre’s PARIVESH portal crosses 50,000 clearances milestone.

About Parivesh Portal

  • Parivesh stands for Pro Active and Responsive Facilitation by Interactive and Virtuous Environmental Single-window Hub.
  • Developed by Ministry of Environment, Forest and Climate Change through NIC.

Objective

  • Acts as a single window portal for Environment, Forest, Wildlife and Coastal Regulation Zone (CRZ) clearances and monitor their subsequent compliance across nation.
  • Tags :
  • Environmental Clearance
  • PARIVESH
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