Context: Scientists at Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST), Kashmir have developed India’s first gene-edited sheep using CRISPR-Cas9 technology. The gene editing targets the myostatin gene, which regulates muscle growth, resulting in a sheep with approximately 30% greater muscle mass compared to normal sheep. Key Details Context and Regulatory Outlook
BASF Launches Valexio and Mibelya to Boost Indian Rice Production
Context: BASF has introduced two new agrochemical solutions—Valexio (insecticide) and Mibelya (fungicide)—to support Indian rice farmers in improving yield quality and quantity, especially in the face of climate-related challenges. Key Highlights: Significance for Indian Agriculture BL
Fertiliser Industry Demands Reform in Outdated Regulatory Framework
Context: Industry bodies have raised concerns about India’s outdated fertiliser regulations, claiming they favour Chinese imports over domestic manufacturers, thereby undermining the “Make in India” initiative and hurting the growth of Indian startups in the sector. Key Highlights: Key Demands from Industry Bodies Significance
Viksit Krishi Sankalp Abhiyan
Context: The Viksit Krishi Sankalp Abhiyan campaign, initiated by Union Minister Shri Shivraj Singh Chouhan, is set to launch on 29th May 2025 from Puri, Odisha. The campaign will run for 15 days, concluding on 12th June 2025. Shri Chouhan will visit nearly 20 states, engaging directly with farmers, scientists, and agricultural stakeholders. States to be Visited Campaign Objectives Organizers and Participants Scale and Impact PIB
India’s Economic Outlook Faces Trade Tariff Uncertainty, Sluggish FDI: Finance Ministry Review
External Risks and Trade Concerns Impact on Capital Flows US Fiscal Developments: Global Spillover Risk Foreign Direct Investment Trends Concerns Over India Inc.’s Outward Focus BS
Deposit Insurance and Credit Guarantee Corporation (DICGC)
Context: The Union government is considering increasing the bank deposit insurance limit from the current ₹5 lakh to potentially ₹10 lakh. Deposit insurance is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), covering deposits in commercial and cooperative banks. DICGC and the Deposit Insurance Amendment Background The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly owned subsidiary of the RBI, has initiated verification and certification of claims from 55 insured Urban Co-operative Banks (UCBs) placed under All Inclusive Directions (AID). This is to ensure that depositors receive insured amounts (up to ₹5 lakh) within 90 days, as mandated by the DICGC (Amendment) Act, 2021. Key Objectives About DICGC Feature Details Established 15 July 1978 Governing Act DICGC Act, 1961 Ownership Wholly owned by RBI Jurisdiction Ministry of Finance, Government of India Insurance Limit ₹5,00,000 per depositor (principal + interest) Coverage Savings, fixed, current, recurring deposits in insured banks Banks Covered by DICGC What DICGC Insures Claim Settlement Procedure Key Features of DICGC (Amendment) Act, 2021 1. Section 18A – Interim Payments 2. Applicability 3. Extended Liability Window Premium and Repayment Provisions Aspect Provision Premium Paid by insured banks annually Cap 0.15% of total deposits (can be raised with RBI approval) Repayment by Bank Must repay DICGC on terms set by Board Penal Interest Up to 2% above RBI repo rate for delays
Reserve Bank of India (Digital Lending) Directions, 2025 Issued by RBI
Context: The Reserve Bank of India (RBI) released new digital lending norms earlier this month impacting credit guarantee schemes for MSME loans. Most MSME loans are currently covered under credit guarantee schemes which offer zero risk weight and encourage lending at competitive interest rates. RBI Directions on Digital Lending The Reserve Bank of India (RBI) issued comprehensive directions to regulate the digital lending ecosystem with the aim of enhancing borrower protection, promoting transparency, and ensuring responsible digital lending practices. Key Objectives Definition of Digital Lending Entities Covered The directions apply to: Key Features and Provisions Mandatory Reporting of Digital Lending Apps (DLAs) Due Diligence on Lending Service Providers (LSPs) Role of LSPs Mandatory Disclosures to Borrowers Grievance Redressal Mechanism Significance Key Regulatory Change Implications for NBFCs and MSME Lending
CBDT Extends Income Tax Return Filing Deadline for AY 2025-26 to September 15
Context: The Central Board of Direct Taxes (CBDT) has extended the last date for filing Income Tax Returns (ITR) for Assessment Year (AY) 2025-26 from July 31, 2025 to September 15, 2025. The extension responds to significant revisions in ITR forms and new reporting requirements introduced by the Finance Act, 2024. Reasons for Extension Key Changes in ITR Forms BS
FM Nirmala Sitharaman Signals Boost for Fintech Sector
Context: Finance Minister Nirmala Sitharaman visited Pine Labs’ Noida office. Acknowledged fintech‘s role in enabling secure, inclusive financial services, especially for merchants and MSMEs. Push for Digitisation Across States Supportive Policy Plans for Fintech and Digital Exports BS
MoSPI to Monitor Impact of Mudra Loan Scheme
Context: The Ministry of Statistics and Programme Implementation (MoSPI) aims to track the utilization and impact of credit access programmes such as the Pradhan Mantri Mudra Yojana (PMMY). This initiative is part of efforts to support enterprise formalisation and financial inclusion. Surveys Involved Objectives Collaboration and Data User Engagement Significance
