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Government amends the rules under the Foreign Exchange Management Act, to bring in the international credit card spends outside India under the Liberalized Remittance Scheme (LRS). The usage of an international credit card to make payments towards meeting expenses during a trip abroad was not covered under the LRS. The spendings through international …

The Central government approved Nutrient Based Subsidy for Nitrogen(N), Phosphorus(P), Potash(K) and Sulphur(S) for the 2023 kharif Season On the proposal of the Department of Fertilisers, the central government has revision of the NBS rates for Kharif Season (April-September) 2023 and for Rabi Season (January-March, 2023). Rs 70,000 crore will be spent …

RBI recently stated that some financial institutions were yet to facilitate an absolute transition away from the LIBOR benchmark. What is LIBOR? The London Interbank Offered Rate (LIBOR) is a global benchmark interest rate that combines individual rates at which banks opine they may borrow from each other at the London interbank …

Maharashtra Government orders SIT probe over dispute regarding forceful entry of into the Temple. The Trimbakeshwar Mahadev Temple: Trimbakeshwar town is an ancient Hindu Pilgrim center located at the source of the Godavari River, 28 kms from Nashik in Maharashtra. Trimbakeshwar Mahadev Temple is considered one of the 12 Jyotirlingas. Trimbakeshwar means …

A tribal council’s order not to issue a Scheduled Tribe (ST) certificate to any Khasi person who adopts the surname of his/her father. The Khasi is an indigenous tribe of Meghalaya numbering about 1.39 lakh. They are of the three matrilineal communities of North-east besides the Garo and Jaintias. Following the matrilineal law of inheritance, …

Drug makers Serum Institute of India and Panacea Biotec are moving closer to develop the country’s first vaccine against dengue. They have applied to the Indian Council of Medical Research’s (ICMR) call for ‘Expression of Interest’ for collaborative Phase-III clinical trials for indigenous manufacturers. Phase-III clinical trial is being done for evaluation of efficacy, along with …

Ukraine claims it shot down Russia’s next generation hypersonic missile ‘Barrage’. A hypersonic missile is a weapon system which flies at least at the speed of Mach 5 i.e., five times the speed of sound and is maneuverable. The maneuverability of the hypersonic missile is what sets it apart from a ballistic missile as the …

The Kukis are an ethnic group that includes multiple tribes inhabiting the North-Eastern India, parts of Burma, and Sylhet and Chittagong hill tracts of Bangladesh. The Kuki people are believed to be the native to the Mizo Hills. The Kukis are also known as Lushai, Darlongs, Rokhums and among the Burma boarder they are known as Chins. The major population of Kuki is in …

The new Alzheimer’s drug Donanemab was found to slow down cognitive decline by 35% in people with early Alzheimer’s. Key Details: The new drug has been developed by the pharmaceutical giant Eli Lilly. It was observed that the new Drug named ‘Donanemab’, does not only slow down cognitive decline by 355 but …

The government is considering restructuring the priority sector lending (PSL) scheme to allow deposits made by banks in the Rural Infrastructure Development Fund (RIDF) and such other funds to qualify as exposure under PSL. What are the norms for PSL? Reserve Bank of India (RBI) regulations require banks to allocate 40% …

India’s goods exports have fell the steepest in three years in April, 2023 because of the weakening global demand and declining commodity prices. According to the commerce ministry data, the Exports have declined by nearly 13% i.e., from $39.70 billion to $34.66 billion in the year-ago period. The Merchandise imports have also fell by 14% to $49.90 billion from …

According to experts Mocha is the strongest cyclone on earth so far in this year.​​​​​​​ It has been categorized as an Extremely Severe Cyclonic Storm by the India Meteorological Department (IMD) and as a ‘Super Cyclone’ by global weather website Zoom Earth. Mocha became the strongest cyclone ever recorded in the North Indian Ocean, including …

Context: The Indian National Trust for Art and Cultural heritage (INTACH) has objected to the demolition of the Paralakhemundi railway station built in 1899 and has sought heritage status for it. The Paralakhemundi railway station: Located in the Gajapati district, Paralakhemundi railway station, is one of the oldest stations of Odisha. …

The Supreme Court has recently held that bail orders should neither be too long and elaborate nor come too late as both violate the constitutional mandate of personal liberty. Key details: The supreme court highlighted that, while rejecting or granting bail to accused persons, Judges should not slip into extensive deliberations …

A baby was born using three persons DNA in the UK. The Baby technically, has three parents, deriving the mitochondria from a donor apart from the genetic material (DNA) from biological parents. The need for using this pioneering technology was aimed to prevent the child inheriting the mother’s mitochondrial disease. In this particular …

The United Kingdom had decided to provide long-range Storm Shadow cruise missiles to Ukraine. Significance Since Russia invaded Ukraine in Feb, 2022, Ukraine has so far received a wide variety of weapons and ammunition, including anti-tank missiles, anti-aircraft systems and artillery from its Western Allies. The storm Shadow is the latest …

India walked out from the trade pact called the Regional Comprehensive Economic Partnership (RCEP) in November 2019. The RCEP involved China, Japan, South Korea, Australia, New Zealand and the 10-state Association of Southeast Asian Nations (ASEAN) grouping. Now in 2023 India along with many of the RCEP countries, (except China replaced by the United States), is getting …

The Khooni Darwaza is a key piece of the India’s history, as it has witnessed the events of the revolts of 1857. It was built by Sher Shah in the 16th century. Ronald Vivian Smith in his book ‘Delhi: Unknown Tales of a City’ has mentioned “Lal Darwaza” built by Sher Shah in his new …

The Supreme Court directed lower courts to decide pending default bail applications without relying on its own recent judgment. A judgment of the Supreme Court is considered the law of the land. Article 141 of the Constitution provides that the law declared by the Supreme Court shall be binding on all courts within India. The recent judgment in Ritu …

The Allahabad High Court ordered a “scientific survey”, including carbon dating, of a “Shivling” said to have been found at the Gyanvapi mosque complex in Varanasi. What is carbon dating? Carbon dating is a widely-used method to establish the age of organic materials, things that were once living. Living things have carbon in …