Context: The Securities and Exchange Board of India (SEBI) implemented new rules for mutual fund and demat account nominations. The new rules aim to make it easier to manage assets in case of an investor’s death or illness. Key Changes Financial Safety for Families and Nomination Rules Key Provisions on Financial Safety and Nomination Rules Benefits Limitations and Exclusions Issues with Banking and Regulatory Conflicts New Provisions for Nomination and Transmission Recommendations and Issues Implementation Timeline
Special Rupee Vostro Account
SRVA was launched in July 2022 to encourage the use of rupees in trade. SRVA stands for Special Rupee Vostro Account. It is a program that allows countries to settle international trade in the Indian Rupee (INR).
Foreign Exchange Management Act (FEMA)
Context: Reserve Bank of India (RBI) amended the Foreign Exchange Management Act (FEMA) of 1999 to allow overseas branches of authorized dealer banks to open INR accounts for non-residents. This has been done with an aim of promoting the usage of the Indian rupee for cross-border transactions.
RBI’s de-Registration Process for NBFCs
Context: RBI assessing Tata Sons’ plea for de-registration as NBFC. RBI Regulations on NBFC According to RBI regulations, the company must get listed on the exchanges within three years of such classification. The upper-layer NBFCs are subject to enhanced regulatory scrutiny for at least the first five years. Why RBI Cancels the Registration Certificate of NBFC? The RBI can cancel the registration certificate of a non-banking financial company if such a company ceases to conduct NBFC business in India or fails to abide by the conditions of its registration certificate. RBI’s de-Registration Process Tata Sons’ Application for de-Registration
SC Committee Report on Agrarian Distress in India
Context: Recently, the Supreme Court (SC)–appointed committee has submitted its interim report on agrarian distress in India. The report has highlighted the severe state of crisis in India’s agriculture. Key Findings of the Report: Implication of the report
SVAMITVA Scheme
SVAMITVA (Survey of Villages and Mapping with Improvised Technology in Village Areas) scheme is a collaborative effort of the Ministry of Panchayati Raj, State Panchayati Raj Departments, State Revenue Departments and Survey of India. Achievements
Medium-Range Surface-to-Air Missiles (MRSAM)
Context: The Union Defence Ministry inked a ₹2,960-crore contract with Bharat Dynamics Ltd. (BDL) for medium-range surface-to-air missiles (MR-SAM) for the Indian Navy. “The MR-SAM system is a standard fit aboard multiple Indian naval ships, and is planned to be fitted on the majority of the future platforms planned for acquisition. Medium-Range Surface-to-Air Missiles (MRSAM) Medium-range surface-to-air missiles, abbreviated as MRSAM, are missile systems designed for intercepting enemy aircraft, helicopters, drones, and missiles. MRSAMS are ground-launched missiles that are used by the Indian Army, Air Force, and Navy. Features of MRSAMs
Bharat Ranbhoomi Darshan App
Context: An initiative of the Ministries of Defence and Tourism, as well as the Army, the “Bharat Ranbhoomi Darshan” app was launched by Defence Minister Rajnath Singh on January 15 coinciding with the Army Day celebrations. Key Features: Tourism Objectives: Initiative Goals: One Stop Information Hub
Semi Conductor Industry in India
Context: Singapore is exploring new initiatives such as manufacturing of semiconductors and building a semiconductor ecosystem in India and participating in the creation of a new generation of technological solutions, the city-state’s President, Tharman Shanmugaratnam, said. India’s semiconductor industry is growing rapidly, and the government has taken several steps to support it. The industry is expected to reach $80.3 billion by 2028. Semiconductor A semiconductor is a material that can conduct electricity in some conditions and block it in others. Semiconductors are used in many electronic devices, including computers, air conditioners, and medical devices. What are semiconductors used for? India’s Semiconductor Mission The Challenges: India’s Semiconductor Dream Government Schemes for Semi Conductor in India Goals of these schemes UPSC Civil Services Examination, Previous Year Question (PYQ) Prelims Q. Which one of the following laser types is used in a laser printer? (2008) (a) Dye laser (b) Gas laser (c) Semiconductor laser (d) Excimer laser Ans: (c)
Satish Dhawan Space Centre (SDSC)
Context: The Union Cabinet approved the construction of a third launch pad at the Satish Dhawan Space Centre (SDSC) in Sriharikota, Union Minister of Information and Broadcasting Ashwini Vaishnaw said. The launch pad will have an outlay of â‚ą3,984.86 crore, and is targeted to be completed by early 2029. Satish Dhawan Space Centre (SDSC) Satish Dhawan Space Centre (SDSC) is India’s major spaceport located at Sriharikota, Andhra Pradesh. There are two launching pads here – one for the sounding rockets as well as for launching polar and geosynchronous satellites. The launches of Lunar probes for exploration missions, Mars Orbiter Mission, Solar research mission called Aditya-L1 and space observatory XPoSat were from the SDSC. Aditya-L1: India’s First Sun Mission
