Source: TH Context: The CSIR-National Aerospace Laboratories (NAL), Bengaluru has unveiled the production version of the Hansa-3(NG) trainer aircraft, a fully indigenous two-seater designed to meet India’s growing demand for pilot training. This initiative strengthens India’s self-reliance in aerospace technology and reduces dependence on foreign trainer aircraft. Hansa-3(NG) Related Developments – SARAS Mk-2
Brown Butterflies Cause Flutter in Kolkata, Experts Cite Rains
Context: Kolkata has recently witnessed an unusual surge in brown butterflies, sparking curiosity and mild concern among residents. Experts confirm that this rise is a seasonal, climate-driven natural phenomenon, primarily influenced by prolonged monsoon rains and favourable ecological conditions. The species responsible for this sudden appearance is the Common Evening Brown (Melanitis leda). Common Evening Brown (Melanitis leda)
Dynamic Ground Water Resources of India, 2025 Report
Source: TOI Context: The Dynamic Ground Water Resources of India, 2025 report released by the Central Ground Water Board (CGWB) shows a slight improvement in India’s groundwater recharge. However, 25% of assessed units remain stressed, indicating persistent over-extraction and regional vulnerabilities. Key Findings of the 2025 Report Marginal Increase in Annual Recharge Assessment Coverage Stress Categories (2025) Regions Showing Decline in Recharge Significant drop in groundwater recharge recorded in: Hotspots of Over-Exploitation States/UTs with highest concentration of over-exploited and critical units: Causes States Showing Improvement in 2025 Significant increase in groundwater recharge seen in: Why Did Recharge Improve?
Scientists Raise Concerns Over ITPGRFA “Compromise Proposal”
Source: TH Context: A coalition of scientists, Scientists for Genetic Diversity, has voiced strong opposition to a “compromise proposal” discussed during the 11th session (GB11) of the International Treaty on Plant Genetic Resources for Food and Agriculture (ITPGRFA) in Lima, Peru. The proposal aims to enhance the Multilateral System (MLS), which governs global sharing of plant genetic resources. Key Highlights: Multilateral System (MLS) Scientists’ Concerns
RBI Imposes ₹91 Lakh Penalty on HDFC Bank
Source: TOI Context: The Reserve Bank of India (RBI) has imposed a penalty of ₹91 lakh on HDFC Bank following violations detected during its Statutory Inspection for Supervisory Evaluation (ISE 2024), which assessed the bank’s financial position as on March 31, 2024. The penalty is for non-compliance with the Banking Regulation (BR) Act, RBI directions, and related guidelines. Key Findings 1. Interest Rate Benchmark Violations 2. Unauthorized Business Activities 3. KYC Outsourcing Non-Compliance Norms / Provisions Violated by HDFC Bank When RBI carried out its Statutory Inspection for Supervisory Evaluation (ISE 2024) — as of 31 March 2024 — it found multiple violations by HDFC Bank. The key norms breached were:
RBI Final Guidelines on Digital Banking Channels
Source: TH Context: The Reserve Bank of India (RBI) has issued its final instructions for banks on digital banking channels, emphasizing customer consent, risk management, and operational compliance. The guidelines clarify that digital banking cannot be made mandatory for accessing other services, such as debit cards. Key Provisions Explicit Customer Consent Mobile Number Collection Risk Mitigation Measures Risk-Based Monitoring Network-Independent Mobile Banking Restrictions on Third-Party Products Policy and Oversight Launch of Transaction Banking Facilities
Bandhan Bank to Sell Unsecured Non-Performing Assets (NPAs)
Source: IE Context: Kolkata-headquartered Bandhan Bank has announced plans to sell unsecured retail non-performing assets (NPAs), including written-off accounts, worth ₹6,931.31 crore to Asset Reconstruction Companies (ARCs) and other permitted entities. This marks one of the largest retail NPA sales by a private sector bank in India, primarily from its microfinance portfolio. What is an NPA (Non-Performing Asset)? A Non-Performing Asset (NPA) is a loan or advance where the borrower has stopped making scheduled payments (principal or interest) for a certain period.As per RBI norms: When does a loan become NPA? A loan is classified as NPA after 90 days of overdue in the case of: Categories of NPAs In simple words:If a borrower does not pay for 90 days, the bank stops recognising income from that loan and marks it as NPA. Norms to Sell NPAs (As per RBI Guidelines) Banks can sell NPAs to: Eligibility for Sale
IMF Report: Zombie Firms Highlight Inefficient Insolvency Resolution in India
Source: BS Context: The International Monetary Fund (IMF), in its recent staff report on the Indian economy, highlighted structural inefficiencies in India’s business environment, low business dynamism, and issues in the insolvency resolution framework under the Insolvency and Bankruptcy Code (IBC) Amendment Bill. The report emphasised the prevalence of zombie firms and gaps in operational creditor rights. Low Business Dynamism Persistence of Zombie Firms Zombie Firms are businesses that continue to operate but are financially weak and unable to generate enough profits to cover their interest payments for a prolonged period. IBC Amendment Bill Gaps Recovery Rates and Pre-admission Delays Recommendations by IMF
FinMin and RBI Developing Unified Portal for Unclaimed Financial Assets
Source: ET Context: The Ministry of Finance, in collaboration with the Reserve Bank of India (RBI), is developing a single unified digital portal to help individuals locate and claim unclaimed financial assets across multiple asset classes. The announcement was made by M. Nagaraju, Secretary, Department of Financial Services, during a PNB-led investor awareness event under Aapki Poonji Aapka Adhikar. Unclaimed Financial Assets Unclaimed Assets refer to money or financial instruments that legally belong to an individual but remain untouched, unwithdrawn, or unclaimed for a long period.These assets typically become “unclaimed” because the owner: Banks must transfer unclaimed bank deposits (10+ years) to the Depositors Education and Awareness Fund (DEAF) maintained by RBI. Unified Portal for All Unclaimed Assets What Is an Inoperative Account? An Inoperative Account is a bank account that has seen no customer-initiated transaction for a fixed period.
IMF Gives ‘C’ Grade to India’s National Accounts Statistics
Source: IE Context: The International Monetary Fund (IMF), in its Annual Article IV Review, has assigned a ‘C’ grade to India’s national accounts statistics, including GDP and GVA. This grade is significant as India is set to release the Q2 FY25 national accounts data on Friday. Meaning of ‘C’ Grade Weaknesses Cited by IMF 1. Outdated Base Year (2011–12) 2. Use of Wholesale Price Index (WPI) for Deflators 3. ‘Sizeable Discrepancies’ in GDP Estimates Approaches to GDP Measurement in India 1. Income Approach (Primary method used by India) Measures GDP by adding up incomes earned by: 2. Expenditure Approach (Supplementary estimate) Measures GDP by calculating spending by: Differences frequently arise due to:
