Di-Ammonium Phosphate (DAP) Scarcity and Its Impact on Rabi Crop Productivity Di-Ammonium Phosphate (DAP)
Diammonium Phosphate (DAP) Fertilizer
Red Sea Crisis Impact on DAP Supply in India
4. RS clears Bill to ease oil exploration
Rajya Sabha Approves Oilfields (Regulation and Development) Amendment Bill, 2024 • The Rajya Sabha passed a Bill aimed at delinking petroleum operations from mining, clarifying petroleum lease grants and extensions, and introducing a new mechanism for the resolution of disputes for the exploration and production sector.• The Bill replaces all the existing laws between 1948 and 1969 by introducing the concept of ‘petroleum lease’ which is legally differentiated from the mining lease.• The Bill must be passed in the Lok Sabha to come into effect.• The Bill introduces the concept ‘Mineral Oils‘, which groups together a broad spectrum of mineral oils, from shale oil and gas hydrates to coal bed methane.
Oilfields (Regulation and Development) Amendment Bill, 2024
Salient Features Importance of the Amendment About the Petroleum and Natural Gas Regulatory Board (PNGRB) This amendment revitalizes the regulatory framework for oilfields, aligning with global standards to enhance the efficiency, sustainability, and resilience of the energy sector.
3. EPFO´s investible corpus more than doubled in 6 years
Employees’ Provident Fund Organisation’s Investment Corpus Doubles in Five Years • Employees’ Provident Fund Organisation’s investment corpus doubled in the last five years to ₹ 24.75 trillion in FY24 from ₹ 11.1 trillion in FY19.• The overall investible corpus increased to 15.8% from ₹ 21.36 trillion in FY22.• The number of active contributing subscribers increased by 7.6% to 73.7 million in FY24 from 68.5 million in FY23.
2. ´ Overreach´: USISPF, Nasscom object to Sebi´s specified digital platform plan
Advocacy Groups Slam Sebi’s Draft Circular on Digital Platforms 3. EPFO´s investible corpus more than doubled in 6 years Employees’ Provident Fund Organisation’s Investment Corpus Doubles in Five Years • Employees’ Provident Fund Organisation’s investment corpus doubled in the last five years to ₹ 24.75 trillion in FY24 from ₹ 11.1 trillion in FY19.• The overall investible corpus increased to 15.8% from ₹ 21.36 trillion in FY22.• The number of active contributing subscribers increased by 7.6% to 73.7 million in FY24 from 68.5 million in FY23.
6. BRAHMOS Bolstering Indian Navy´s Firepower at Sea
Indian Navy’s Modernization and Innovation Indian Navy has expanded its strategic outreach and operational horizons, focusing on modernization and innovation.• BRAHMOS supersonic cruise missile system has appreciably enhanced modern combat capabilities of the Navy.• BRAHMOS is a state-of-art universal precision-guided weapon designed for both antiship and land-attack roles.• The BRAHMOS naval variant has continued to evolve in lethality, maneuverability, and strike capability in the complicated maritime environment.• It has been integrated into modern combat suites of large guided missile destroyers and stealth frigates.• Test firings of the missile from the naval platforms have thus augmented the Navy’s firepower at sea.Major achievements by BrahMos Aerospace in the way of significant contracts are an advanced SSM variant of the versatile weapon system BRAHMOS and Next Generation Maritime Mobile Coastal Batteries which they are making for the Indian Navy.• The superior systems proved during test firings notable operating and performance characteristics and functionalities in their successful firings performed in 2023-24.• BRAHMOS Aerospace has developed a compact yet more powerful and agile version called BRAHMOSNG-its ‘nextgen’ product for being a top modern yet low-cost combat asset under future inventories of the Indian Navy.
BrahMos
Context: Ministry of Defence signs contract worth Rs 1700 crores with BrahMos Aerospace Pvt Ltd for additional dual-role capable BrahMos missiles. Key Highlights:
1. Reporting practices for banks set to change
Amendment of Banking Regulation Act to Facilitate Claim Handling and Succession Banking Regulation ActAllow up to four nominees from one, ensuring easier claim handling and minimal hassle for legal heirs. Amendments to be directed toward ensuring continuity and fewer disputes among legal heirs. As of March 2024, unclaimed amounts in banks have touched ₹ 78,000 crore. A streamlined settlement mechanism is needed.• State Bank of India Act and the Banking Companies Act will be amended to enable transferring unclaimed shares, interest, and bond redemption amounts to the Investor Education and Protection Fund (IEPF).• Definition of “substantial interest” would be updated with an enhancement in the shareholding threshold from ₹ 5 lakh to ₹ 2 crore.• The reporting practices for banks would be changed, with the date of reference shifted from “reporting Friday” to the last day of fortnight, month, or quarter.• Tenure of directors of cooperative banks shall be increased from eight years to 10 years for excluding the chairman and wholetime director.• Director of a central cooperative bank can sit on the board of state cooperative bank.• Changes will enable PSBs to offer competitive remuneration to statutory auditors, enhancing audit standards and financial oversight.
3. National Archives of India organizes Exhibition “Naga-Land & People in Archival Mirror” at Kisama, Kohima during 25th Hornbill Festival
“Naga – Land & People in Archival Mirror” Exhibition • Curated by National Archives of India in collaboration with the Department of Arts and Culture, Government of Nagaland.• Was inaugurated on 1st December 2024 at the 2nd World War Museum Complex, Kisama, Kohima.• Has 12 thematic panels of displays of crucial happenings of Nagaland history.• Highlights include Naga-Land & People, Colonial Inroads, World War
