CAFRAL Raises Concerns Over NBFC and Digital Lending Practices

Source: IE

Why in News? 

The Centre for Advanced Financial Research and Learning (CAFRAL), a research body set up by the Reserve Bank of India (RBI), has highlighted a growing risk in bank financing for Non-Banking Finance Companies (NBFCs) and identifies potential dangers in the digital lending landscape. 

• Also, CAFRAL also warned about fake/illegitimate lending apps gathering personal data, posing potential misuse and safety risks for users.

What are the Major Concerns Raised by CAFRAL? 

• Interdependency Risks in NBFC Sector: 
  
  • CAFRAL observed that banks mostly lend to bigger NBFCs, leading to increased cross-lending within the NBFC sector. 
    • This creates a network of inter-dependencies and contagion channels that can amplify shocks and transmit them across the system.
  • For example, the default of IL&FS in 2018 and DHFL collapse in June 2019, triggered a liquidity crisis and a loss of confidence in the NBFC sector, affecting the asset quality and profitability of banks that had lent to them.
• Impact of Contractionary Monetary Policy on NBFCs:
  • CAFRAL also found that contractionary monetary policy leads to risk build-up in NBFCs’ portfolios. 
  • When the RBI tightens the policy rate, NBFCs face higher borrowing costs and lower profitability. 
    • To maintain their margins, they tend to shift their lending to riskier segments such as unsecured loans, subprime borrowers, etc. They also increase their exposure to capital markets by investing in equities and mutual funds. 
    • These strategies expose them to higher credit risk, market risk, and liquidity risk, which can affect their solvency and stability.
• Warnings About Illicit Lending Apps and Fintech Impact:
  • It also warns about fake/illegal digital lending apps, pretending to be legitimate and gathering personal data for potential misuse. 
  • Users can not easily verify the legality of these apps. There are concerns about potential losses from online lending affecting traditional banking if linkages between these sectors grow stronger. 
    • These apps often request extensive personal information, posing risks to consumer safety and privacy, although some data may be genuinely necessary.
    • FinTech has increased product diversity, with around 1100 lending apps available for Indian Android users across 80 app stores.

What are NBFCs? 

• About: 
  • An NBFC, registered under the Companies Act, 1956, engages in various financial activities such as loans, investments in securities, leasing, insurance.
  • It excludes institutions whose primary business falls under agriculture, industry, goods trading, services, or immovable property trading.
• Criteria: 
  • When over 50% of a company's assets are financial assets and more than 50% of its income is derived from these financial assets, it indicates the company's primary involvement in financial activities. 
    • Companies meeting both criteria are registered as NBFCs by the RBI.
    • The Reserve Bank has been given the powers under the RBI Act 1934 to register, lay down policy, issue directions, inspect, regulate, supervise and exercise surveillance over these NBFCs.

• Exemptions From Registration with RBI: 
  • Under Section 45-IA of the RBI Act, 1934, an NBFC must obtain a registration certificate from the RBI and maintain Net Owned Funds of ₹25 lakhs (₹Two crore since April 1999) to operate as a non-banking financial institution. 
  • However, certain categories of NBFCs regulated by other authorities, such as SEBI-registered Venture Capital Funds, Merchant Banking, and Stock broking companies, are exempt from RBI registration. 
• Difference in NBFC and Banks: 
  • NBFCs are restricted from accepting demand deposits from the public, unlike banks, which commonly accept these types of deposits that can be withdrawn on demand without prior notice.
  • Unlike banks, NBFCs do not form part of the payment and settlement system. They are unable to issue cheques drawn on themselves, a standard practice offered by banks.
  • Unlike banks, the deposit insurance facility provided by institutions like the Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs. 
    • In case of bank failures, this insurance offers protection to depositors, but it does not extend to NBFC depositors.
• Funding: 
  • NBFCs primarily finance their operations through a mix of market borrowing and bank loans. 

Way Forward

• Monitoring the Inter-linkages and Spillovers: The RBI and other regulators need to strengthen monitoring the inter-linkages and spillovers between NBFCs and banks, as well as within the NBFC sector, using various tools such as network analysis, stress testing, early warning indicators, etc. 
  • They also need to coordinate and cooperate with each other to ensure effective information sharing and crisis management.
• Risk Management and Governance: Strengthening risk management practices to identify, assess, and mitigate potential risks in NBFCs effectively.
  • Enhancing corporate governance and regulatory oversight to ensure sound decision-making and transparency.
    
• Regulatory Surveillance of Digital Lending: Strengthening regulatory oversight over digital lending applications to ensure compliance with consumer protection laws and data privacy regulations.
  • Implementing clear guidelines to verify the legality and authenticity of lending apps.

Loss and Damage Fund

Source: TH

Why in News? 

In light of the escalating climate crisis, the 'Loss and Damage' (L&D) fund and adaptation have recently come into focus. 

What is the Loss and Damage Fund?

• About:
  • The 'Loss and Damage' (L&D) fund is a financial mechanism designed to address the irreversible consequences of climate change that cannot be avoided or mitigated through adaptation efforts. 
    • Adaptation is the proactive response to climate change, the art of survival using which communities and countries make deliberate choices to prepare for and cope with climate-related challenges.
  • This fund recognizes and aims to compensate for the real losses incurred by communities, countries, and ecosystems due to the impacts of climate change. 
    • These losses extend beyond monetary value and cut to the core of human rights, well-being, and environmental sustainability. 
• Genesis and Evolution of the L&D Fund:
  • Historical Accountability and Inception:
    • Over 30 years, there has been a persistent call for affluent nations to acknowledge their role in historic pollution, which has elevated the world’s average surface temperature by more than 1 degree Celsius. 
      • This historic pollution is currently causing significant damage worldwide, especially in the poorest nations.
  • COP 19 (2013): 
    • The formal agreement at the 19th Conference of the Parties (COP 19) to the United Nations Framework Convention on Climate Change (UNFCCC) in Warsaw, Poland, in 2013, led to the establishment of the L&D fund. 
    • This fund was specifically created to provide financial and technical assistance to economically developing nations that were incurring Loss and Damage due to climate change.
  • Subsequent Developments and Challenges:
    • COP 25: 
      • Following COP 19, the Santiago Network for L&D was established at COP 25. However, at this point, countries did not commit any funds to support the initiative.
    • COP 26: 
      • 2021 COP26 climate summit in Glasgow, aimed to continue discussions over the next three years regarding the operationalization of the fund.
    • COP 27 (November 2022): 
      • After intense negotiations at COP 27, representatives of the UNFCCC’s member states agreed to set up the L&D fund. Additionally, a Transitional Committee (TC) was established to figure out how the new funding mechanisms under the fund would operate.
        • The TC was tasked with preparing recommendations for countries to consider, deliberate on, and potentially adopt by COP 28.
  • Stalemate at TC4 and TC5:
    • TC4 Meeting: 
      • The fourth meeting of the TC4 concluded with no clear consensus on operationalizing the L&D fund. 
      • The key points of contention included the hosting of the fund at the World Bank, the foundational principle of common but differentiated responsibilities (CBDR), issues related to climate reparations, and the eligibility of all developing nations for the funds.
    • TC5 Meeting: 
      • Recommendations from TC5 have been drafted and forwarded to COP 28. 

What are the Challenges Regarding the  Loss and Damage Fund?

• Developed Nations' Reluctance:
  • Developed nations, particularly the US, have remained non-committal about being primary donors to the fund. Their support is voluntary, raising concerns about the commitment to the fund's objectives.
    • The unwillingness of wealthy nations to fulfill their intended commitments undermines faith in global climate negotiations and hampers the cooperative spirit necessary to address climate change.
• Uncertainty Surrounding the Fund:
  • There is currently no indication of the size of the L&D fund, and any attempt to specify the fund's size was quashed under pressure from the U.K. and Australia. 
    • The current draft merely urges and invites developed nations to provide money, without a clear commitment or framework.
• Diplomatic Breakdown and Global Consequences:
  • Developing nations express discontent, perceiving that their concerns and needs are not adequately addressed by the international community. 
    • This complicates the path to climate action and raises doubts about addressing other global issues effectively.
  • Beyond immediate diplomatic and trust-related repercussions, the watering down of the L&D fund has far-reaching implications. It threatens climate justice and exacerbates the suffering of vulnerable communities in developing nations, who have contributed minimally to global emissions but bear the brunt of climate change.
• Security Implications of Climate-Change-Induced Instability:
  • Climate-change-induced instability can have security implications as conflicts and tensions emerge in vulnerable nations. 
    • These conflicts threaten to spill across borders, creating security challenges.
  • Beyond the immediate consequences, the absence of support for vulnerable communities can lead to an increase in humanitarian crises, including food shortages, people displacement, and conflicts. 
    • This forces communities to cope independently with a worsening climate and its consequences.

Way Forward

• Global Commitment: Urge developed nations to actively contribute as primary donors to the L&D fund, ensuring a strong financial commitment.
• Transparency and Structure: Advocate for transparent discussions to define the fund's size, operational guidelines, and allocation mechanisms, providing clarity and accountability.
• Inclusive Diplomacy: Foster open diplomatic dialogues that address the concerns of developing nations, promoting collaboration for effective climate action and global issue resolution.
• Security Mitigation: Proactively address security implications of climate-induced instability, implementing measures to tackle humanitarian crises and supporting vulnerable communities.

India and Netherlands Relations

Source: PIB

Why in News?

Recently, Delegates from India visited the Netherlands, where both sides have signed a Memorandum of Intent (MoI) to cooperate on Medical Product Regulation and enhance the quality of medical products and healthcare services for both countries.

• The Indian delegation participated in the second World Local Production Forum (WLPF) meeting in The Hague. 
  • The WLPF is a platform initiated by the World Health Organization (WHO) with the goal of increasing access to medicines and health technologies.

How Have Been India-Netherland Relations?

• Diplomatic Ties:
  • India and the Netherlands established diplomatic relations in 1947. The year 2022 marks 75 years of the establishment of diplomatic relations. 
  • Today, the two countries are maintaining strong political, economic & commercial relations. 
  • High-level mutual exchanges have provided an impetus to the multifaceted partnership between the two countries.
• Bilateral Trade and Investment:
  • The Netherlands is the 4th largest trading partner with India in Europe (From April 2000-March 2023). It is also the 4th largest investor in India.
  • Bilateral trade reached an all-time high of USD 27.58 billion during 2022-23.
  • The cumulative FDI (Foreign Direct Investment) inflows from the Netherlands to India from April 2000-March 2023 amounted to USD 43.75 billion.
• Major Exported Items from India to Netherlands:
  • India exported 4,610 commodities to the Netherlands in FY22.
  • India’s exports to the Netherlands stood at USD 3.29 billion from April-May 2023-24.
  • Major exported items from India to the Netherlands include petroleum products, telecom instruments, aluminium & products of aluminium, electronic instruments, iron and Steel, etc. during April-May 2023-24.
• Recent Developments:
  • A Joint Statement to formally establish a bilateral Fast-Track Mechanism (FTM) between India and the Netherlands to facilitate investments by Dutch companies in India, was signed by the Department for Promotion of Industry and Internal Trade (DPIIT) and the Embassy of Netherlands in September, 2022.
• Cooperation in Science & Technology: 
  • The Netherlands Organization for Scientific Research (NWO) collaborates with the various departments in the Indian Government.
  • For instance, there is an ongoing project titled “Local Treatment of Urban Sewage Streams for Healthy Reuse (LOTUS-HR)”.
    • The LOTUS-HR project is an India-Netherlands joint collaboration of universities and companies funded by the India`s Department of Biotechnology and the Dutch NWO-TTW.
• Collaboration in Water Management:
  • A platform called Dutch Indo Water Alliance Leadership Initiative (DIWALI) has been developed in which India and Netherlands could participate in designing solutions for water challenges.
• Collaboration in Agriculture: 
  • Agriculture is one of the core sectors identified by the Netherlands for enhancing bilateral cooperation with India.
  • The 5th Joint Agriculture Working Group (JAWG) meeting on Agriculture took place in New Delhi in 2018.
  • Under the JAWG, an Action Plan was signed which envisages cooperation in establishing Centers of Excellence (CoE) in horticulture, animal husbandry & dairy, fisheries and food processing.
  • This is also accompanied by skill development & capacity building in the fields of cold chain, supply chain management etc.
• Healthcare Cooperation:
  • An MoU for Cooperation in the Field of Healthcare and Public Health was signed in January 2014 to promote greater research collaboration in emerging health challenges associated with communicable diseases and antimicrobial resistance.

Conclusion

• The relations between India and the Netherlands date back to the early 17th century. 
• This long-cherished historic bond is based on the shared values, rule of law, pluralism, and people-to-people connection between the two countries. 
• The continuous cooperation in the different areas has undeniably brought the Netherlands and India closer. 
• They are maintaining cooperation in trade and economy, energy transition, smart cities and urban mobility, science & technology cooperation, water management and agriculture sector, public health & health care and culture and also becoming stronger to solve the global challenges together.

Genetically Engineered Insects

Source: TH

Why in News?

India aims to increase the Bioeconomy's contribution to GDP (Gross Domestic Product) from 2.6% to 5% by 2030, as outlined in the 'Bioeconomy Report 2022' by the Department of Biotechnology (DBT). 

• Biotechnology funding in India remains stagnant, with only a 0.0001% allocation of the GDP. Despite a temporary increase during Covid-19, funding levels haven't returned to pre-pandemic standards. 
• The ‘Guidelines for Genetically Engineered (GE) Insects’, issued by the DBT in April 2023, provide procedural roadmaps for those interested in creating GE insects but have issues.

What are the Key Highlights of the Bioeconomy Report 2022?

• India's bioeconomy is on a robust growth trajectory, projected to reach USD 150 billion by 2025 and surpass USD 300 billion by 2030. 
• The sector experienced a remarkable 14.1% increase, reaching USD 80 billion in 2021 compared to USD 70.2 billion in 2020. 
  • Daily, the bioeconomy generated USD 219 million, reflecting its significant economic impact.
• In 2021, the sector witnessed the establishment of three biotech startups daily, totaling 1,128 for the year. 
• With over USD 1 billion invested in research and development, the industry is demonstrating a commitment to innovation and advancement. 
• Amidst the global pandemic, India administered 4 million Covid-19 vaccine doses and conducted 3 million tests daily, showcasing its resilience and capacity.
• Over the past decade, the number of biotech startups has soared from 50 to over 5,300, with expectations of doubling by 2025. 
• The Biotechnology Industry Research Assistance Council (BIRAC) has played a pivotal role by establishing 74 bio-incubation centers across 21 states/UTs, fostering a supportive environment for bio-entrepreneurs. 
• Notably, India boasts the second-highest number of USFDA (United States Food and Drug Administration)-approved manufacturing plants outside the US, underscoring its global standing in the biotech industry.

What are Genetically Engineered (GE) Insects?

• About:
  • GE insects are organisms whose genetic material has been altered through genetic engineering techniques to introduce specific desired traits or characteristics. 
  • This involves manipulating the insect's DNA in a way that is not naturally occurring, often with the aim of conferring certain benefits or addressing specific issues.
• Application:
  • The development and release of GE insects offers applications in various fields such as,
    • Vector management in human and livestock health
    • Management of major crop insect pests
    • Maintenance and improvement of human health and the environment through a reduction in the use of chemicals
    • Production of proteins for healthcare purposes
    • Genetic improvement of beneficial insects like predators, parasitoids, pollinators (e.g. honey bee) or productive insects (e.g. silkworm, lac insect).
• Issues with Genetically Engineered (GE) Insects Guidelines:
  • The guidelines lack specificity on the purposes for which GE insects may be approved in India. While they emphasize applications in health, agriculture, and environment, there is a misalignment with the broader commitment to contributing to the bioeconomy.
    • Uncertainty for Researchers: The guidelines are limited to research and don't address confined trials or deployment. Lack of clarity on government approval for deployment raises concerns about community exposure without individual choice.
    • Uncertainty of Ambit: Ambiguity surrounds the definition of 'beneficial' in the context of GE insects, hindering funders and scientists from investing. Similar ambiguities exist in other gene-editing guidelines, affecting progress.

What are the Challenges Related to Genetically Engineered (GE) Insects?

• Ecological Impact: 
  • One major concern is the potential ecological impact of releasing genetically modified insects into the environment. There is a risk that these insects could disrupt ecosystems by affecting non-target species or by altering the balance of existing populations.
• Unintended Consequences: 
  • Genetic engineering is a complex process, and unintended consequences can arise. Changes in the targeted genes might have unexpected effects on the insect's behavior, lifespan, or interactions with other organisms.
  • There is the risk of the modified genes spreading beyond the intended population. If the modified insects can breed with wild populations, the engineered genes may enter the wild gene pool, leading to unintended consequences.
• Ethical Concerns: 
  • Some people are concerned about the morality of altering the genetics of living organisms, particularly when it involves their release into the environment.
• Regulatory Challenges: 
  • Developing regulatory frameworks for genetically engineered insects can be challenging. Determining the appropriate level of testing, monitoring, and oversight is crucial to ensure both safety and effectiveness.
• Long-Term Stability: 
  • Ensuring the stability of the engineered traits over generations is crucial. Genetic modifications must remain effective and not degrade or become subject to natural selection pressures that could compromise their intended purpose.
• Costs and Scalability: 
  • Developing and implementing genetically engineered insect technologies can be expensive. Ensuring cost-effectiveness and scalability for large-scale applications, such as disease vector control, is an ongoing challenge.

Way Forward

• Comprehensive and clear policies are crucial for achieving the ambitious goals set for the bioeconomy, and addressing these issues is vital for the sector's growth and contribution to the national economy.
• Addressing the challenges related to GM Insects requires a multidisciplinary approach involving scientists, policymakers, ethicists, and the public to ensure that the benefits of genetically engineered insects are realized while minimizing potential risks. 
• Ongoing research and open dialogue are essential to navigating these complexities responsibly.

Baler Machine

Source: IE  

Why in News?

With the problem of farm fires being taken up by the Supreme Court, Belar, a machine that facilitates ex-situ (off-site) stubble management has been in demand in Punjab and adjacent regions.

Baler machines have been around for a decade, and currently around 2,000 of them operate in Punjab. Of these 1,268 are highly subsidised (50-80%) under the Centre’s Crop Residue Management (CRM) scheme.

What is a Baler Machine?

• About: 
  
  • Balers play a pivotal role in stubble compression, acting as hydraulic presses to compact crop residues into dense, manageable packages. These compressed stubbles are securely bound using twine, wire, or strapping.
    • Before using a baler machine, farmers cut the crop residue with a tractor-mounted cutter. A tractor-mounted baler machine compresses the stubble into compact bales using netting.

• Significance:
  • Environmental Preservation: Eliminates the need for crop stubble burning, contributing to reduced air pollution and soil degradation.
    • Farmers burn stubble after harvesting, which contributes to air pollution. Balers offer an environmentally-friendly alternative to burning stubble by compressing it into bales.
  • Resource Efficiency: Efficiently compresses stubble, making it easier for handling, transport, and storage.
    • It allows farmers to immediately plough the field and sow the next crop.
  • Economic Gain: Opens avenues for revenue generation through the sale of compressed stubble as a valuable resource.
• Other Ways to Handle Stubble:
  • In-situ treatment of Stubble: For example, crop residue management by zero-tiller machine and Use of bio-decomposers (e.g., Pusa bio-decomposer).
  • Use of Technology: For example, Turbo Happy Seeder (THS) machine, which can uproot the stubble and also sow seeds in the area cleared. The stubble can then be used as mulch for the field.

What are the Issues with Balers?

• High Input Cost: A single baler costs about Rs 14.5 lakh without subsidies. Currently, there are around 700 non-subsidized balers operating in Punjab. 
  • Affordability Issue: No baler units were sold in the first two years after being included under the Crop Residue Management scheme.
• Unavailability of Enough Machines: Punjab has around 32 lakh hectares of rice fields, but only 15-18% of this area can be covered by the available balers in the state.  One baler can cover only 15-20 acres in a day.

6th Session of India-Ethiopia Joint Trade Committee

Source: PIB

Why in News?

The 6th Session of the India-Ethiopia Joint Trade Committee (JTC) recently concluded in Addis Ababa, Ethiopia, bringing together officials from both countries to strengthen economic ties.

What are the Key Highlights of the JTC meeting?

• India invited Ethiopia to collaborate on integrating the Unified Payment Interface (UPI) with Ethiopia's Ethswitch.
  • Ethswitch is a payment platform infrastructure in Ethiopia.
• India urged Ethiopia to explore settling trade transactions in the local currency for enhanced bilateral trade and conservation of foreign exchange.
• Health and pharmaceuticals, automobiles, textiles, infrastructure projects, food, and agro-processing are identified as key sectors for mutual investments.
• Both sides also reviewed the progress of ongoing discussions for Memorandum of Understanding (MoUs) in the field of Standardization and quality assurance and Customs procedure and agreed to conclude them expeditiously. 

How have been the India-EthiopiaTrade Trade Relations?

• India is one of the largest sources of long-term concessional credit to Ethiopia, with over USD 1 billion for sectors such as rural electrification, sugar industry and railways
• Bilateral trade between India and Ethiopia reached USD 642.59 million in 2022-23.
  • Ethiopia's economy grew by an estimated 6.4% in 2021-22.
• India is the second-largest exporter to Ethiopia.
• Indian companies rank among the top three foreign investors in Ethiopia with existing investments totalling USD 5 billion.
• India and Ethiopia have exchanged several high-level visits, including those of presidents, prime ministers and ministers.

Portuguese Coin

Source: IE  

Why in News?

A farmer in North Goa’s Nanoda Bamber village unearthed a pot that contained coins from a bygone era.

• Pot contained 832 copper coins, believed to have been minted in Goa around the 16^th or 17^th Century when it was under Portuguese rule.

What was Characteristic of Portuguese Coinage in India?

• Portuguese issued coins in gold and silver from Goa, as well as copper, tin, and lead coins from other mints such as Cochin, Diu, and Damão.
• The gold coins were called ‘Cruzado’ or ‘Manoel’ and were issued in the same size, value, and weight. They had a cross on one side and the royal arms on the other. 
• The silver coins were called ‘Meia-espera’ and ‘Espera’.
• The copper coins were divided into various denominations such as ‘Bazaruco’, ‘Leal’, ‘Tanga’, ‘Pardau’, and ‘Real’. 
  • The copper coins had various symbols such as a castle, a lion, a crown, a cross, and the king’s name.
• The tin and lead coins were mainly issued from Diu and Malacca and were called ‘Dinheiro’.
  • They had a crude design and were often irregular in shape and size. They had the king’s name or initials on one side and a cross or a flower on the other.

What was India’s Engagement with Portuguese in Goa?

• Portuguese as a Traveller: Vasco da Gama was the first Portuguese explorer to reach India by sea in 1498 at Calicut on the Malabar Coast and was welcomed by a local ruler Zamorin.
• Portuguese as a Coloniser: In 1505, Francisco de Almeida became the first viceroy of Portuguese India and established a base in Cochin. He also fought against the Zamorin of Calicut and the Mamluks of Egypt, who were rivals in the spice trade.
  • Afonso de Albuquerque (in 1510) captured Goa from the Bijapur Sultanate and made Goa the capital of the Portuguese State of India.
• Colonial Rule of Portuguese: The Portuguese rule in Goa lasted for about 450 years, from 1510 to 1961. During this period, Goa became a prosperous and cosmopolitan city, known as the “Rome of the East”. 
• Liberation of Goa: The liberation of Goa from Portuguese rule was achieved by the Indian government in December 1961, after a 36-hour military operation known as Operation Vijay. 
• Statehood to Goa: In 1987, Goa was granted statehood by the Indian government, and became the 25th state of India. 

Rapid Fire Current Affairs

Supreme Court's Directives on Pollution Control

The Supreme Court's recent directives to multiple state governments underscore an urgent call to address the escalating issue of air pollution. 

• Emphasizing the immediate cessation of stubble burning in Punjab, Haryana, Uttar Pradesh, Rajasthan, and Delhi, the Court voiced concern over the detrimental impact on people's lives and health. 
• Notably, the Court denounced pollution as a severe health hazard, describing it as a 'murder of the people's health.' 
• Additionally, it critiqued the 'odd-even' scheme for being an inadequate method to control vehicular pollution and suggested prohibiting out-of-state taxis from entering Delhi. 

Read more: Air pollution

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CORPAT & EX-BONGOSAGAR

The 4th edition of the Bilateral Exercise between the Indian Navy and the Bangladesh Navy, BONGOSAGAR-23, and the 5th edition of Coordinated Patrol (CORPAT) by the two navies were conducted in the Northern Bay of Bengal recently. 

• Ships and aircraft from both navies undertook joint patrolling along the International Maritime Boundary Line (IMBL) and subsequently conducted maritime exercises to enhance interoperability. 
• CORPAT-23 (India -Bangladesh) also included the maiden Humanitarian Assistance and Disaster Relief (HADR) drills conducted between the two navies, wherein a Search and Rescue scenario at sea was exercised.
• Other Related Exercises:
  • SAMPRITI: Annual Military Exercise (11^th edition conducted in October 2023 in Umroi, Meghalaya).

Read More: Bongosagar Exercise, India-Bangladesh Relations

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Saturn’s Rings 

Saturn's rings will briefly disappear from view in 2025 due to an optical illusion caused by the planet's tilt (which happens every 13 to 15 years), and the alignment of its rings with Earth's line of sight.

• The rings will gradually reappear as Saturn continues to revolve around the Sun.
• According to NASA, Saturn is expected to lose its rings completely in the next 300 million years due to the gravitational pull of the planet and its magnetic field.
  • The phenomenon of "ring rain" causes ice particles from the rings to be pulled into the planet by its gravity under the influence of Saturn's magnetic field.
• About Saturn:
  • 6^th planet from the Sun
  • 2^nd largest in the solar system
  • Composed mostly of hydrogen and helium
  • Spectacular and complex rings made of ice, rock, and dust 
  • 146 moons, including Enceladus and Titan
  • Shortest day in the solar system (10.7 hours)
  • One orbit around the Sun takes about 29.4 Earth years

Read More: Saturn’s Mysterious Rings & Extreme Tilt, Methane in the Moons of Saturn, Jupiter Saturn Great Conjunction

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Acharya JB Kripalani Birth Anniversary

Recently, the Prime Minister of India has paid tributes to Acharya Jivatram Bhagwandas(JB) Kripalani on his birth anniversary (11^th November 1888 in Hyderabad, Sindh).

• He Joined Gandhi's cause in 1917, associated with the Non-Cooperation Movement, Civil Disobedience Movement, and Quit India Movement.
• J.B. Kripalani was the president of the Indian National Congress(INC) in 1947. He was one of the founders of the Kisan Mazdoor Praja Party (KMPP) after the independence leaving INC.
• He moved the first-ever No confidence motion in Lok Sabha in 1963, immediately after the India-China War (1962).
• He is the author of several books, including "Gandhi: His Life and Thought" (1970). The autobiography titled "My Times" was published posthumously in 2004.                                   

Read more: Acharya Kripalani 

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Maulana Azad Birth Anniversary

Recently, the Prime Minister of India has paid tributes to Maulana Abul Kalam Azad on his birth anniversary (11^th November 1888 in Mecca, Saudi Arabia).

• He adopted the pen name ‘Azad’ meaning ‘free’ to indicate his rejection of orthodox and narrow views.
• Azad supported the Non-Cooperation Movement started by Gandhiji and entered the Indian National Congress in 1920.
• He was the first education minister of independent India and under his tenure as the education minister established the University Grants Commission, the Indian Council for Cultural Relations, and the Indian Institutes of Technology.
  • National Education Day is observed on 11^th November in India to commemorate the birth anniversary of Maulana Azad. 
• He was awarded the Bharat Ratna, India’s highest civilian honour, posthumously in 1992.

Read more: Maulana Abul Kalam Azad