• Reserve Bank of India has mandated that all regulated entities provide a KFS to retail and MSME borrowers.

• About KFS
  • It is a document that clearly explains lending terms and has key information regarding a loan agreement in a simple and easy-to-understand format.
  • It enhances transparency in lending and enables customers to make informed decisions.

• Union Government launched 3 new initiatives under Pradhan Mantri Fasal Bima Yojana (PMFBY).
  • PMFBY is comprehensive crop insurance from pre-sowing to post-harvest period.
• Krishi Rakshak Portal and Helpline (KRPH) 14447: To provide multilingual support, transparent communication and real-time grievance resolution.
• Learning Management System (LMS) to train stakeholders in efficient crop insurance and agricultural credit.
• SARTHI Portal: To extend coverage to health, life, home, shop, agriculture implements, motor, and parametric products.
  • SARTHI is a digital insurance platform launched in collaboration with UNDP India.

• Myanmar rebel’s capture of Paletwa town adversely impacts the KMTT project.

• About KMTT Project
  • Aims to provide connectivity between India and Myanmar from Ports on India’s eastern seaport to Myanmar’s Sittwe Port, and further to North East India.
  • 4 stages – 
    • Kolkata to Sittwe port via the Bay of Bengal.
    • Sittwe to Paletwa inland (River Kaladan).
    • Paletwa to India-Myanmar border post in Mizoram.
    • Border to Lawngtlai in Mizoram (NH 54).
  • Significance: Improved access to Southeast Asia, improved connectivity to north-eastern states, etc.

• Telangana’s State Board for Wildlife (SBWL) approved the corridor area between Tadoba-Andhari Tiger Reserve and Kawal Tiger Reserve as a conservation reserve.
  • SBWL is established under the Wildlife (Protection) Amendment (WPA) Act, 2002, headed by Chief Minister or Administrator in case of UT. 

• About Conservation Reserve:
  • A protected area under the ‘Wildlife (Protection) Act (WPA), 1972’ (added through the WPA Act of 2002). 
  • Acts as buffer zone to or connectors and migration corridors between national parks, wildlife sanctuaries and protected areas. 
  • Declared by the State Government, after consulting with the central government and the local communities. 
  • It is administered with the help of the Conservation Reserve Management Committee.

• Recently, natural gas flare samples collected in USA  revealed high variation in nitrogen oxides emission estimates

• About Natural gas flare:
  • It is the burning of the natural gas associated with oil extraction.
  • The flare's combustion converts hydrocarbons to carbon dioxide and water.
  • The process lessens the climate impact and reduces the safety concerns of the natural gas.
  • However, it also produces nitrogen oxides or NOx.
    • NOx includes the highly reactive gasses such as nitric oxide and nitrogen dioxide which directly and indirectly impacts air quality.
  • In 2015, the World Bank and the United Nation, launched the Zero Routine Flaring by 2030 (ZRF) initiative.

• Union Ministers of State for Health and Family Welfare launched Kilkari programme for beneficiaries in local content in Gujarat and Maharashtra.

• About Kilkari programme
  • Kilkari’ (meaning ‘a baby’s gurgle’), is a centralized interactive voice response (IVR) based mobile health service.
  • Centrally hosted by Union Ministry of Health & Family Welfare.
  • Delivers free, weekly, time-appropriate 72 audio messages about pregnancy, childbirth, and childcare directly to families’ mobile phones from second trimester of pregnancy until child is one year old.

• All India Council for Technical Education (AICTE) launched SSPCA to bolster global competitiveness of Indian students in technical education.
• Objectives: To provide travel assistance registration fee to a team of minimum 2 to 10 Bachelor students for attending competition on scientific event at international level. 
• Eligibility: A team of Students in the field of technical education enrolled and undergoing a technical course notified by AICTE in an AICTE-approved technical institution.
• Grant: Entire amount subject to a maximum 1 lakh per student

• Study of Meteorite fragments from the Asteroid 2024 BX1 found that they are part of aubrites Meteorite.

• Meteor that reaches the Earth is called a meteorite.

• About Aubrites Meteorite
  • Are rare meteorites originating from an extremely reduced differentiated parent body in the solar system.
  • Named after the meteroite, which fell in 1836 near Aubres, France.
  • They are coarse-grained igneous rocks formed under extremely reducing conditions or by little or no free oxygen. 
  • Contain a variety of exotic minerals not found on Earth.

Iceland 

• Recently, a volcano erupted in Iceland.

• Political features:
  • An island country, located in North Atlantic Ocean.
  • Part of the Nordic Countries. 
    • Other Nordic countries are Denmark, Finland, Norway, and Sweden.
  • Bounded by Greenland Sea (North); Norwegian Sea (East); Atlantic Ocean (South and west); Denmark Strait (Northwest).

• Geographical Features
  • It is underlain by basalt, a dark rock of igneous origin.
  • Lies on the Mid-Atlantic Ridge.
  • Ridge is formed at divergent plate boundary where the North American Plate and the Eurasian Plate are moving away from each other.
  • Highest Peak: Hvannadals Peak
  • Major river: Thjórs River