Police registered a zero FIR case against a former Minister of Telangana for allegedly making objectionable comments against the Telangana Chief Minister.

About Zero FIR

Definition: Refers to a First Investigation Report (FIR) registered irrespective of the area where the offense is committed.
Jurisdiction: Police cannot claim lack of jurisdiction, as it is later transferred to the police station with actual jurisdiction for investigation.
Origin: Introduced on the recommendation of the Justice Verma Committee post the Nirbhaya gang rape in Delhi in 2012.
Objective: Ensures victims don't struggle to get a police complaint registered, facilitating speedy redressal and timely action.

What is an FIR?

Information recorded by a police officer on duty based on a complaint by the aggrieved person or any other individual regarding an alleged offence.
Not defined in the Indian Penal Code (IPC), Code of Criminal Procedure (CrPC), 1973, or any other law.
In police regulations or rules, information recorded under Section 154 of CrPC is termed as First Information Report (FIR).

GS Paper 3: Indian Polity and Governance - Zero FIR and its significance in ensuring justice and timely action.

GS Paper 4: Ethics and Integrity - The obligation of police to begin an investigation without jurisdictional excuses aligns with ethical conduct and accountability in law enforcement.

India Meteorological Department (IMD)

Seasonal Outlook for Hot Weather Season (April to June) 2024

The India Meteorological Department (IMD) issued an updated seasonal outlook for the hot weather season.

About India Meteorological Department

Establishment: Founded in 1875, it serves as the National Meteorological Service and the principal government agency for meteorology and allied subjects.
Leadership: Headed by the Director General of Meteorology.
Regional Presence: Operates through 6 Regional Meteorological Centres, each under a Deputy Director General, located in Mumbai, Chennai, New Delhi, Calcutta, Nagpur, and Guwahati.

Mandate

Observations and Forecasts: Provides meteorological observations and forecasts crucial for weather-sensitive activities like agriculture, irrigation, shipping, aviation, and offshore oil explorations.
Warning Systems: Issues warnings against severe weather phenomena such as tropical cyclones, norwesters, dust storms, heavy rains and snow, cold and heat waves, to mitigate loss of life and property.
Data Provision: Supplies meteorological statistics necessary for agriculture, water resource management, industries, oil exploration, and other nation-building endeavors.
Research and Promotion: Conducts and promotes research in meteorology and related disciplines to enhance forecasting accuracy and understanding of weather patterns.

Nodal Ministry: Ministry of Earth Sciences (MoES)

Headquarters: New Delhi

GS Paper 3: Disaster Management - IMD's role in warning against severe weather phenomena aligns with disaster preparedness and mitigation strategies.

GS Paper 1: Indian Heritage and Culture - The historical background of the IMD's establishment contributes to understanding the development of scientific institutions in India.

Atal Tunnel

The Manali-Leh highway faced obstruction due to fresh snowfall near the Atal Tunnel in Lahaul and Spiti districts.

About Atal Tunnel

Formerly Known as: Rohtang Tunnel.
World's Longest High-Altitude Tunnel: Situated at an elevation of approximately 3,100 meters (10,171 feet) above sea level.
Location: Located in the Pir Panjal Range of the Himalayas, in Himachal Pradesh, passing through Rohtang pass.
Length: Stretches over 9.02 km, providing a year-round connection between Manali and Lahaul and Spiti Valley, previously inaccessible for about six months annually due to heavy snowfall.
Design Features: A horseshoe-shaped, single tube, double-lane tunnel equipped with a semi-transverse ventilation system, emergency exits every 500 meters, evacuation lighting, broadcasting systems, and fire hydrants for enhanced safety.

GS Paper 1: Geography - The location and significance of the Atal Tunnel in the Pir Panjal Range contribute to understanding geographical features and connectivity in the Himalayan region.

GS Paper 3: Infrastructure - The construction and design features of the tunnel are relevant to infrastructure development and transportation projects aimed at enhancing connectivity in challenging terrains.

Red Sea

Recent disruptions in global trade have been attributed to the interruption of one of the vital shipping routes — through the Red Sea.

About Red Sea

Geographical Location: A semi-enclosed inlet of the Indian Ocean situated between the continents of Africa and Asia, renowned as one of the world’s warmest seas.
Connection: Connected to the Arabian Sea and the Indian Ocean to the south through the Gulf of Aden and the narrow strait of Bab El-Mandeb.
Divisions: The northern part of the Red Sea is divided by the Sinai Peninsula into the Gulf of Aqaba and the Gulf of Suez, linking it to the Mediterranean Sea via the renowned Suez Canal.
Bordering Countries: Yemen and Saudi Arabia border the Red Sea to the east, while Egypt borders it to the north and west, and Sudan, Eritrea, and Djibouti border it to the west.
Unique Characteristics: Known for containing some of the world’s hottest and saltiest seawater.
Islands: Notable islands include Tiran Island near the mouth of the Gulf of Aqaba and Shadwan Island at the entrance of the Gulf of Suez.
Trade Route Significance: With its connection to the Mediterranean Sea via the Suez Canal, the Red Sea serves as one of the most heavily trafficked waterways globally, facilitating maritime traffic between Europe and Asia.

GS Paper 1: Geography - Understanding the geographical features, divisions, and significance of the Red Sea contributes to knowledge about global water bodies and their impact on trade routes.

GS Paper 2: International Relations - Knowledge about the Red Sea's importance in global trade and its geopolitical significance enhances understanding of international maritime affairs and regional dynamics.

Asteroid

NASA's Jet Propulsion Laboratory has consistently forecasted the passage of four asteroids near Earth.

About Asteroids

Origin: Asteroids, also known as minor planets, are rocky remnants from the early formation of the solar system approximately 4.6 billion years ago.
Location: Most of these ancient space remnants orbit the Sun between Mars and Jupiter within the main asteroid belt.
Orbital Characteristics: Asteroids orbit the Sun in highly flattened or "elliptical" circles, often exhibiting erratic rotation and tumbling motions.
Mass Comparison: The combined mass of all asteroids is less than that of Earth's Moon. Many large asteroids have one or more small companion moons, such as Didymos, a half-mile (780 meters) wide asteroid orbited by the moonlet Dimorphos, measuring just 525 feet (160 m) across.

GS Paper 3: Science and Technology - Understanding the nature, composition, and characteristics of asteroids contributes to knowledge about celestial bodies and their significance in space exploration and planetary defense strategies.

Statins

A study conducted by researchers in China has discovered that administering ursodeoxycholic acid (UDCA) can counteract the tendency of statins to induce glucose intolerance and diabetes.

About Statins

Prescription Medications: Statins are prescription drugs used to lower cholesterol levels in the body.
Mechanism of Action: They work by inhibiting the action of a liver enzyme responsible for cholesterol production.
Cholesterol Regulation: Statins help bring down high cholesterol levels in the blood, which can otherwise lead to the buildup of plaque in artery walls, potentially causing arterial narrowing or hardening. This buildup increases the risk of heart attacks or strokes.
Effect on LDL Cholesterol: Some statins can reduce LDL (low-density lipoprotein) cholesterol levels by 50% or more. LDL cholesterol is often referred to as "bad" cholesterol because it contributes to arterial plaque formation.
Beneficial Effects: Statins have been associated with a decreased risk of heart disease, stroke, and certain types of blood clots.
Potential Interactions: Statins may interact with other medications, leading to an increased risk of serious side effects, such as muscle damage.

GS Paper 3: Science and Technology - Understanding the mechanism of action and potential side effects of statins contributes to knowledge about pharmaceuticals and their impact on human health, which is relevant for public health policies and medical advancements.

Central Administrative Tribunal (CAT)

Establishment: The Central Administrative Tribunal (CAT) was established under Article 323-A of the Constitution.
Mandate: Its primary mandate is to adjudicate disputes and complaints related to the recruitment and conditions of service of individuals appointed to public services and posts associated with the affairs of the Union or other authorities under the control of the Government.
Jurisdiction: Alongside the Ministries and Departments of the Central Government, the CAT has jurisdiction over approximately 214 organizations as notified by the Government.
Composition: Each bench comprises one Judicial Member and one Administrative Member. The CAT operates through 17 Benches and 21 Circuit Benches across India.
Conditions of Service: The conditions of service for the Chairman and Members of the CAT are equivalent to those applicable to a Judge of a High Court.
Salaries and Allowances: The salaries, allowances, and conditions of service for officers and employees of the Tribunal are specified by the Central Government.
Powers:
- The CAT exercises jurisdiction solely concerning service matters covered by the Administrative Tribunals Act 1985.
- It follows the principles of natural justice in its proceedings and is not bound by the procedural norms prescribed by the Civil Procedure Code.
- The Tribunal has the authority to frame its own rules of procedure and practice.
- It is empowered to deal with contempt of itself, possessing jurisdiction and authority equivalent to that of a High Court in such matters.

GS Paper 2: Governance - Understanding the role and jurisdiction of the Central Administrative Tribunal (CAT) contributes to knowledge about administrative and legal structures governing public service recruitment and conditions of service, which is relevant for governance and public administration.

Lalit Kala Akademi

Establishment: Inaugurated on 5th August 1954 by the then Minister for Education, Maulana Abul Kalam Azad, Lalit Kala Akademi (LKA) was registered under the Societies Registration Act 1860.
Mission: LKA serves as India's national academy of fine arts, dedicated to promoting and propagating understanding of Indian art, both within the country and internationally.
Collections: It houses a permanent collection reflecting the vitality, complexity, and evolving patterns of contemporary, modern, folk, and tribal art in India.
Promotion of Indian Art: LKA actively promotes Indian visual art globally through cultural agreements and exchange programs with various countries.
Funding: The academy is funded by the Ministry of Culture, Government of India, to support its endeavors in the field of fine arts.
Headquarters and Regional Centers: LKA is headquartered in New Delhi, with regional centers located in Chennai, Lucknow, Kolkata, Bhubaneswar, and Garhi.

GS Paper 1: Indian Heritage and Culture - Understanding the role and objectives of Lalit Kala Akademi contributes to knowledge about the promotion and preservation of Indian art and culture, which is a crucial aspect of Indian heritage.

Leap Second

Introduction: Leap seconds are adjustments made to Coordinated Universal Time (UTC) to synchronize clocks worldwide with the Earth's rotation, which may vary over time.
Purpose: These adjustments combat the long-term slowdown in Earth's rotation caused by factors like the melting and refreezing of ice caps and gravitational forces from celestial bodies like the moon.
Implementation: Leap seconds are added periodically to UTC, typically on June 30 or December 31, to ensure alignment between UTC (based on atomic time) and Astronomical Time (UT1), which reflects Earth's rotation.
Mechanism: The International Earth Rotation and Reference Systems Service (IERS) monitors Earth's rotation and decides when to add or subtract a leap second based on the deviation between UTC and UT1.
Historical Context: Since the introduction of leap seconds in the early 1970s, 27 positive leap seconds have been added. A positive leap second means adding an extra second to UTC.
Negative Leap Second: In rare cases, a negative leap second may be considered to subtract a second from clocks if Earth's rotation exceeds the expected rate. However, no negative leap second has been implemented thus far due to Earth's recent slower-than-average rotation.
Decision Making: The IERS oversees the decision-making process regarding leap seconds, ensuring that adjustments maintain synchronization between UTC and Earth's rotation.
Future Considerations: Timekeepers have contemplated the possibility of using negative leap seconds for the first time due to Earth's recent faster-than-usual rotation, highlighting the dynamic nature of timekeeping in response to planetary changes.

GS Paper 3: Science and Technology - Understanding the mechanisms and implications of leap seconds contributes to knowledge about timekeeping systems and their synchronization with natural phenomena like Earth's rotation.

SEBI Complaint Redress System (SCORES 2.0)

Introduction: SCORES 2.0 is the upgraded version of the SEBI Complaint Redress System, launched by the Securities and Exchange Board of India (SEBI) to enhance investor grievance resolution processes.
SCORES Overview:
- Launch: Initially introduced in 2011, SCORES is a web-based centralized grievance redress system facilitating online lodging and tracking of complaints by investors.
- Purpose: It streamlines the complaint redressal process, allowing investors to lodge complaints, track their status, and follow up on resolutions seamlessly from anywhere.
- Coverage: Complaints related to various regulatory domains under SEBI, including the SEBI Act, Securities Contract Regulation Act, Depositories Act, and provisions of the Companies Act, 2013, can be registered on SCORES.
Entities Covered:
- SCORES handles complaints against a range of entities, including listed companies, brokers, stock exchanges, depository participants, mutual funds, portfolio managers, and other regulated entities like KYC registration agencies, merchant bankers, credit rating agencies, and foreign institutional investors.
Key Features of SCORES 2.0:
- Uniform Timelines: Redressal timelines for investor complaints have been standardized to 21 calendar days from the date of receipt, ensuring prompt resolution.
- Auto-Routing: Complaints are automatically directed to the concerned regulated entity, minimizing delays in complaint flow.
- Monitoring Mechanism: Designated bodies are mandated to monitor the timely resolution of investor complaints, ensuring accountability.
- Two-Level Review: Investors dissatisfied with the resolution provided by the regulated entity can seek two levels of review, first by the designated body and then by SEBI.
- Auto-Escalation: Non-adherence to prescribed timelines triggers auto-escalation of complaints to the next level for expedited resolution.
- Integration with KYC Database: SCORES 2.0 integrates with the KYC Registration Agency database, simplifying investor registration on the platform.

SCORES 2.0 represents a significant advancement in investor protection and grievance redressal mechanisms, promoting transparency, efficiency, and accountability in the Indian securities market.

GS Paper 3: Economics - Understanding the regulatory frameworks and mechanisms like SCORES 2.0 in the financial sector contributes to knowledge about investor protection and market integrity.

Bridge Fuel

Introduction: Natural gas is often referred to as a 'bridge fuel' for nations seeking to transition from coal and oil dependence to cleaner energy sources.
Understanding Bridge Fuel:
- Definition: Bridge fuel is a transitional energy source that minimizes environmental impact while facilitating the shift towards renewable energy alternatives.
- Objective: The aim of utilizing a bridge fuel is to reduce reliance on fossil fuels while transitioning to a renewable energy economy with minimal greenhouse gas emissions.
Natural Gas as a Bridge Fuel:
- Reduced Greenhouse Gas Emissions: Natural gas is considered a bridge fuel because it emits fewer greenhouse gases during combustion compared to coal and oil.
- Environmental Considerations: Evaluating a bridge fuel includes assessing its contribution to national energy independence and its impact on pollution-related costs.
Key Facts about Natural Gas:
- Composition: Natural gas primarily consists of methane (CH4), with varying proportions of ethane, propane, and possible impurities like carbon dioxide, hydrogen sulfide, and nitrogen.
- Formation: Natural gas formed millions of years ago from the decomposition of organic matter buried under layers of sediment and subjected to heat and pressure.
- Reserves: Natural gas reserves are typically found deep within the Earth's crust, often associated with coal and crude oil deposits.
Utilization of Natural Gas:
- Processing: Natural gas undergoes processing to extract by-products like propane, ethane, and butane for various applications.
- Applications: It is utilized for electricity generation, heating, and as a fuel for vehicles (Compressed Natural Gas - CNG). Additionally, it is used in boilers, air conditioners, and in the production of fertilizers like ammonia.
Environmental Impact:
- Comparative Advantage: Natural gas is considered a cleaner alternative to coal and oil, emitting 50 percent less CO2 into the atmosphere during combustion.

Natural gas serves as a transitional energy source, facilitating the shift towards a sustainable energy future while mitigating environmental impact.

GS Paper 3: Environment - Understanding the role of natural gas as a bridge fuel contributes to knowledge about sustainable energy transitions and environmental conservation.

Russia's Use of Zircon Missiles in Kyiv:

Why in News?
- Ukraine’s military administration reports Russia's use of five Zircon missiles to attack Kyiv this year.
- Russia also deployed 11 Kinzhal missiles, another hypersonic weapon.

Hypersonic Weapon:

About
- Hypersonic weapons are fast, low-flying, and highly maneuverable, making them challenging for traditional missile defense systems.
- They don’t follow a predetermined trajectory like ballistic missiles and can maneuver en route to their target.
- Hypersonic speed exceeds five times the speed of sound (Mach 5), subjecting missiles to atmospheric stresses.

Types of Hypersonic Weapons:

Glide vehicles and cruise missiles are the two main types.
Glide missiles are launched from a rocket before gliding to their targets.
Cruise missiles use scramjets for propulsion, cruising at a steady speed and altitude.

Countries with Hypersonic Weapons:

US, China, and Russia possess advanced capabilities.
India, Japan, Australia, and France are exploring the technology.
North Korea claims to have tested a hypersonic missile.

India's Hypersonic Program:

India successfully tested its Hypersonic Technology Demonstrator Vehicle (HSTDV) in 2020, powered by a scramjet engine.
Development of long-range hypersonic weapons is underway, expected to be operational in four to five years.

Kinzhal Missile:

An air-launched hypersonic missile with a range of 1,500-2,000km.
Capable of flying at speeds up to Mach 10 and carrying a nuclear payload.

Zircon Missile:

Sea-based missile with a range of 1,000 km, traveling at nine times the speed of sound.
Zircon's hypersonic speed poses challenges for air defense systems, potentially evading advanced systems like the US Patriot.
Powered by a scramjet engine, carrying a 300-kilogram warhead.

General Studies Paper-3 (Science and Technology) specifically under the section covering advancements in Science and Technology, including Space Technology and Missile Systems.

IMD's Heatwave Warning:

Why in News?
- The India Meteorological Department (IMD) predicts a hot and dry summer from April to June, with the likelihood of heatwaves lasting 10 to 20 days.

India Meteorological Department (IMD):

About
- Established in 1875, headquartered in New Delhi, the IMD is responsible for weather forecasting, seismology, and meteorological observations.
- It serves as the National Meteorological Service of India with observation stations across the country.
Mandate
- Observations: Meteorological observations.
- Forecasting: Providing current and forecast weather information.
- Warnings: Issuing alerts for severe weather phenomena.
- Statistics: Furnishing meteorological data.
- Research: Conducting research in meteorology and related fields.

Heatwaves:

A Heat Wave denotes a period of exceptionally high temperatures, exceeding the normal maximum temperature.
In India, they typically occur from March to June, occasionally extending to July.
Criteria: Maximum temperature of at least 40°C for Plains and 30°C for Hilly regions.
Severity: Departure from normal temperature determines severity levels, categorized as Heat Wave and Severe Heat Wave.

IMD's Prediction:

Expectation of extreme heat across central and western peninsular parts.
Anticipated duration of 10 to 20 heatwave days, surpassing the usual four to eight days.
Areas likely to be most affected include Gujarat, Maharashtra, Karnataka, Rajasthan, Madhya Pradesh, Odisha, Chhattisgarh, and Andhra Pradesh.

Pre-monsoon Rainfall Outlook:

Below-average pre-monsoon rainfall forecasted, particularly over coastal, eastern, and southern peninsular India.

El Nino Conditions:

El Nino conditions, marked by abnormal sea surface warming in the equatorial Pacific, began in June last year.
El Nino typically leads to reduced rainfall and increased temperatures in India.
Though easing since December, warm conditions persist, influencing global temperatures.

Recent Conditions:

February and March witnessed hotter than usual weather, notably in southern India.
Heatwave instances reported in Maharashtra, northern Karnataka, Saurashtra-Kutch, and parts of Rajasthan, with temperatures exceeding 42.6 degrees Celsius in some areas.

General Studies Paper-3, focusing on meteorology, climate change, and its impact on agriculture and society.

India’s First Small-Scale LNG Unit in Madhya Pradesh:

Inauguration of SSLNG Unit:
- Recently, the Union Minister for Petroleum and Natural Gas inaugurated India’s first small-scale liquefied natural gas (SSLNG) unit at GAIL (India) Ltd’s Vijaipur complex in Madhya Pradesh.
- This initiative aligns with the government's agenda to promote natural gas usage across sectors and increase its share in India's primary energy mix to 15% by 2030.

Understanding LNG and SSLNG:

LNG Overview:
- Liquefied natural gas (LNG) is natural gas cooled to a liquid state for ease of storage and transport at about -260°F (-162°C).
- It's cleaner and more cost-effective than conventional hydrocarbons like coal and oil, playing a vital role in India's transition to cleaner energy sources.
- Methane constitutes 70-90% of natural gas, with global significance in electricity generation.
SSLNG Concept:
- SSLNG involves liquefying and transporting natural gas on a smaller scale, addressing areas lacking pipeline connections via specialized trucks and vessels.
- It promises reduced dependency on costly gas imports, especially if it substitutes diesel consumption, leading to substantial foreign exchange savings.
- SSLNG supports cleaner energy initiatives and India's shift towards sustainable fuel sources.

Applications of SSLNG:

Transportation:
- Marine Fuel: LNG serves as a cleaner marine fuel, reducing sulphur oxides (SOx) and particulate matter emissions.
- Road Transport: Used in trucks, buses, and heavy-duty vehicles, offering lower emissions of pollutants compared to diesel.
Industrial Applications:
- Power Generation: Utilized in gas-fired power plants for cleaner electricity generation.
- Heating and Cooling: Applied in industrial processes like manufacturing and refrigeration.
Energy Storage and Backup:
- Renewable Energy Integration: Complements renewables by providing backup power during intermittent generation.

Challenges and Considerations:

High Costs:
- Establishing LNG facilities and specialized transportation incurs significant expenses, posing financial challenges.
Environmental Impact:
- Despite being cleaner than coal, LNG production and transportation have environmental repercussions, including methane emissions.
Safety Concerns:
- Proper handling and storage are crucial due to LNG's flammability, necessitating stringent safety measures.

Comparison with CNG:

CNG Overview:
- Compressed Natural Gas (CNG) is natural gas compressed under high pressure for use as a transportation fuel.
- Consisting primarily of methane, it offers advantages such as cleaner combustion and lower greenhouse gas emissions.
Advantages and Disadvantages:
- Advantages: Clean burning, cost-effective, and high safety standards.
- Disadvantages: Limited range per fill-up, fewer filling stations, and challenges in retrofitting older vehicles.

BioCNG:

Renewable Fuel Option:
- BioCNG, or biomethane, is a renewable, clean-burning transportation fuel derived from organic waste, offering a sustainable energy solution.

General Studies Paper-3, focusing on alternative energy sources, their production, and applications.

Tipura's Matabari Pera and Pachra Receive GI Tag:

Recognition Announcement:
- The Tripura Chief Minister recently announced the prestigious Geographical Indication (GI) tag for two traditional items from the state, Matabari Pera and Pachra.
- This recognition marks a significant milestone for local artisans and weavers, showcasing the rich cultural heritage of Tripura.
Description of Products:
- Matabari Pera: A dairy-based confectionery traditionally served as prasad at the Tripurasundari temple.
- Pachra: A handwoven cloth used by Indigenous communities, reflecting their craftsmanship and cultural identity.
Significance of GI Tag:
- The GI tag provides legal protection against unauthorized imitation or misuse of the product, ensuring its authenticity and preserving cultural heritage.
- It enhances market access and promotion opportunities, both domestically and internationally, thereby contributing to the economic empowerment of local communities.
Economic Opportunities:
- The recognition of Matabari Pera and Pachra with the GI tag opens up avenues for economic growth for the artisans and weavers involved in their production.
- It enables them to leverage the unique identity of these products for increased market visibility and demand.
Previous Recognition:
- Tripura's iconic queen pineapple was previously honored with the GI tag, along with 13 other products from the Northeast region.
- This underscores the diverse and unique offerings of the Northeast, further enhancing its cultural significance and economic potential.

General Studies Paper-1, emphasizing the preservation and promotion of traditional arts, crafts, and cultural practices.

T+0 Settlement Cycle Introduction:

News Overview:
- The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have initiated trading in the T+0 beta version of the settlement cycle in the equity segment, introduced on an optional basis.
- This move follows the issuance of operational guidelines by the Securities and Exchange Board of India (SEBI) for the launch of the shorter tenure settlement cycle.
Understanding "Beta Version":
- The term "Beta Version" denotes a pre-release version of software or a product still in the testing phase.
- Beta versions may include features under development or not fully functional, subject to refinement based on user feedback before final release.
T+0 Trading Settlement Cycle:
- Overview:
  - Proposed by SEBI in December 2023, the T+0 settlement cycle offers clearing and settlement of funds and securities on the same day as the trade execution, in addition to the existing T+1 cycle.
  - Under T+0, trades settle on the same day after the market closure, allowing sellers to receive funds instantly and buyers to acquire securities on the transaction day itself.
  - This system stands as the world's fastest stock settlement mechanism, contrasting the one-day delay in the current T+1 system.
- Benefits:
  - Cost and time efficiency, transparent charges, and improved risk management are envisaged benefits.
  - Sellers gain instant access to 100% of the sale proceeds, eliminating the current 80% upfront payment.
  - Flexibility and control over funds and securities for investors.
  - Enhanced market efficiency and risk management for Clearing Corporations (CCs).
Stages of Settlement:
- Phase 1: Trades till 1:30 pm considered for settlement, concluding by 4:30 pm.
- Phase 2: Trading from 1:30 pm to 3:30 pm, with discontinuation of Phase 1.
Initial Rollout and SEBI's Proposal:
- SEBI proposes the initial rollout for the top 500 listed equity shares in three tranches based on market capitalization.
- This initiative mirrors the evolving Indian securities market, characterized by increased volumes, values, and participants.

General Studies Paper-3, emphasizing reforms in financial markets and their impact on the economy.

International Organization for Migration (IOM) Report: "A Decade of Documenting Migrant Deaths"

Background:
- The International Organization for Migration (IOM) released a report marking the completion of ten years of its Missing Migrants Project (MMP).
- The MMP, initiated in 2014, aims to document deaths and disappearances of individuals during the migration process towards international destinations.
About IOM:
- Established in 1951, the IOM is a leading intergovernmental organization specializing in migration issues.
- Headquartered in Geneva, Switzerland, it comprises 175 member states, including India.
Key Findings:
- Origin of Migrants: Over one in three migrants, whose country of origin could be identified, originate from conflict-affected nations.
- Identification: More than two-thirds of documented migrant deaths remain unidentified.
Major Causes of Death:
- Drowning
- Vehicle accidents
- Suffocation due to fuel inhalation
- Inadequate shelter and healthcare
Understanding Migration:
- Definition: Migration denotes the movement of individuals away from their usual place of residence, either across international borders or within a state.
- Factors Driving Migration:
  - Urbanization
  - Marriage
  - Economic disparities
  - Political instability
  - Impact of climate change, etc.
Consequences of Migration:
- Cultural Interactions: Migration leads to the intermixing of diverse cultures, fostering the evolution of composite cultures.
- Urban Challenges: Migration contributes to overcrowding in cities, leading to haphazard growth and slum development.
- Resource-Population Ratio: Migration alters the resource-population ratio in various regions.
- Brain Drain: Skilled individuals migrate from poorer countries to developed ones in pursuit of better economic opportunities, resulting in brain drain.

General Studies Paper-1 (Society, Geography) and General Studies Paper-2 (International Relations). Top of Form

Discovery of Ozone (O3) on Jupiter's Moon Callisto

Background:
- Scientists made a remarkable discovery while studying the chemical evolution of Sulphur dioxide (SO2) on Jupiter's moon Callisto, under Ultraviolet (UV) irradiation.
- This investigation unveiled evidence of O3 formation on Callisto's surface.
About Ozone (O3) and its Significance:
- Composition: Ozone is composed of three oxygen atoms and is inherently unstable, capable of forming and breaking down easily.
- Significance:
  - O3 in the Stratosphere (around 15-35 km above ground) acts as an invisible shield, protecting against harmful UV radiation from the Sun.
    - UV rays can damage DNA, trigger mutations, and cause health issues like skin cancer and cataracts.
    - Additionally, UV radiation inhibits plant growth and negatively impacts various organisms.
  - However, O3 near the Earth's surface is considered a pollutant, with adverse effects on humans, plants, and animals.
About Callisto:
- Discovery: Discovered by Galileo Galilei, Callisto is Jupiter's second-largest moon and the third-largest moon in the solar system.
  - Jupiter boasts 95 officially recognized moons, with Ganymede being the largest.
- Characteristics: Callisto is renowned as the most heavily cratered object in our solar system, bearing testament to its ancient surface.

General Studies Paper-3 (Science and Technology). Understanding celestial bodies and their unique characteristics, as well as the significance of atmospheric components like ozone, contributes to a comprehensive understanding of science and technology.

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Commemoration Ceremony of 90 Years of Reserve Bank of India (RBI)

Brief History of RBI:
- The establishment of RBI was recommended by the Royal Commission on Indian Currency, 1926 (Hilton Young Commission), and reiterated by the Indian Central Banking Enquiry Committee in 1931.
- RBI was founded in 1935 under the Reserve Bank of India Act, 1934, with Sir Osborne Smith serving as its first Governor.
- It was nationalized in 1949.
Organizational Structure:
- Governed by a Central Board of Directors headed by the Governor and four Deputy Governors, appointed by the Central Government.
- The Governor and Deputy Governors serve a term not exceeding five years, as determined by the Central Government, and are eligible for reappointment.
Functions of RBI:
- Acts as the Monetary Authority to formulate, implement, and monitor monetary policy to maintain price stability.
- Serves as the regulator and supervisor of the financial system to uphold public confidence, as well as the issuer of currency by supplying currency notes and coins.
- Regulates and supervises Payment and Settlement Systems and serves as the Banker to Government and Banks.
Key Achievements:
- Reduced Gross Non-Performing Assets (NPAs) of public sector banks to 3% in 2023 from 11.25% in 2018.
- The size of RBI's balance sheet stands at around Rs 63 lakh crore as of 2023.
- The foreign exchange reserve of the bank currently stands at around $642 billion.

General Studies Paper-3 (Economy). Understanding the role and significance of central banking institutions like the RBI contributes to a comprehensive grasp of economic concepts and policies.

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Closing Ceremony of the International Year of Millets (IYM)

Event Highlights:
- The Food and Agriculture Organization (FAO) organized the closing ceremony of the International Year of Millets (IYM).
- Emphasized the significance of millets in achieving sustainable development goals and their recognition as a 'Global Superfood'.
Background:
- India proposed to the United Nations to declare the year 2023 as the International Year of Millets (IYM).
About Millets:
- Indian millets are a group of nutrient-rich, drought-tolerant grains primarily grown in arid and semi-arid regions.
- Also known as "coarse cereals" or "cereals of the poor," they are nutritionally superior to wheat and rice.
- India is the largest producer of millets, followed by Niger and China.
Significance:
- Millets are highly adaptable to a wide range of ecological conditions.
- They have a low Glycemic Index (GI), aiding in the prevention of diabetes.
- Rich sources of minerals like iron, zinc, and calcium, and are gluten-free.
India's Initiatives to Promote Millets:
- The Ministry of Food Processing Industries (MoFPI) implemented the Production Linked Incentive Scheme for Food Processing Industry for Millet-based products (PLISMBP) from 2022-23 to 2026-27.
- Millets are included under the Poshan Abhiyan of the Ministry of Women and Child Development.
- An Export Promotion Forum dedicated to promoting millets in the international market has been established.

General Studies Paper-3 (Economy), particularly in the context of agriculture, food processing, and government schemes for nutrition and food security.

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Katchatheevu Island Controversy

Recent Development:
- Leader of the ruling political party criticized the main opposition for its decision regarding Katchatheevu Island.
Geographical Location:
- Katchatheevu is an uninhabited island situated in the Palk Strait, between India and Sri Lanka.
- It measures approximately 1.6 km in length and over 300 m in width at its widest point.
- Located northeast of Rameswaram, it lies about 33 km from the Indian coast and 62 km southwest of Jaffna, Sri Lanka.
Historical Background:
- Originated from a 14th-century volcanic eruption, Katchatheevu was historically controlled by the Jaffna kingdom of Sri Lanka.
- Control later shifted to the Ramnad zamindari during the 17th century.
- The island became part of the Madras Presidency during the British Raj.
Dispute and Settlement:
- India and Sri Lanka, as British colonies, both claimed Katchatheevu in 1921 to delineate fishing boundaries.
- Dispute persisted until 1974 when the Indo-Sri Lankan Maritime Agreement was signed, ceding Katchatheevu to Sri Lanka.
- The agreement allowed Indian fishermen limited access to the island for religious and fishing purposes.
Impact of Sri Lankan Civil War:
- Between 1983 and 2009, the dispute was overshadowed by the Sri Lankan civil war.
- Post-2009, with the end of the war, Sri Lanka intensified its maritime defenses, leading to frequent arrests of Indian fishermen entering its waters.
Union Government's Stand:
- Successive Indian governments maintain that no Indian territory was ceded or sovereignty relinquished due to the historical dispute over Katchatheevu.

General Studies Paper-2 (International Relations), particularly in comprehending India's bilateral relations with Sri Lanka, historical disputes, and the impact of such disputes on regional geopolitics.

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India’s Trade Reliance on China and EU Rising: UNCTAD

Why in the News?
- India’s increasing trade dependence on China and the European Union (EU) has been highlighted in a report by the United Nations Conference on Trade and Development (UNCTAD), amidst global trade shifts along geopolitical lines.
About United Nations Conference on Trade & Development (UNCTAD):
- UNCTAD is a permanent inter-governmental body established by the United Nations General Assembly in 1964, focusing on international trade and development issues.
- It frames policies in various domains such as trade, technology, finance, aid, and transport, aiming to help countries address macro-level development challenges and integrate into the international trading system.
- UNCTAD members include 195 countries, and its headquarters is in Geneva, Switzerland.
UNCTAD Report Highlights:
- The report indicates a rebound in global trade in 2024 after a 3% contraction in 2023, equating to roughly $1 trillion.
- Global trade is expected to improve further in 2024, with moderating global inflation and improving economic growth forecasts, especially driven by rising demand for environmental goods like electric vehicles.
- India’s trade reliance on China and the EU is increasing, despite efforts to reduce dependence on China through initiatives like the Production-Linked Incentive (PLI) scheme and Quality Control Orders (QCOs) to limit cheap Chinese imports.
- The ongoing Russia-Ukraine war has also caused significant trade shifts, with Russia's trade dependence on China surging by 7.1% and its reliance on the EU declining by 5.3%, largely due to changes in oil trade patterns.
- Trade dependence is calculated as the ratio of bilateral trade over the total trade of the dependent economy, and changes are assessed based on a four-quarter average relative to the previous year.
Relevance to India:
- India's increasing trade reliance on China and the EU underscores the need for diversified trade partnerships and strategies to mitigate risks associated with over-dependence on specific regions.
- Efforts to strengthen domestic manufacturing and reduce reliance on imports, especially from China, remain crucial for India's economic resilience and self-reliance goals.

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CurrentAffairs Details

3&4 April