SEBI notifies norms for mutual funds for preventing fraudulent transactions and front running.

Front Running 

• Refers to usage of non-public information to directly or indirectly buy or sell securities, or enters into options or futures contracts, in advance of a substantial order. (Securities and Exchange Board of India (SEBI))
• It undermines confidence in the financial markets and creates an uneven playing field for other investors.
• It is illegal in India

Recognition of Srinagar as World Craft City (WCC) by the World Crafts Council has provided opportunities to the craftsmen to enhance their skills and roots. 

• Srinagar is one of four WCC in India (others being Jaipur, Mamallapuram, and Mysore), and among 60 around the globe.

WCC

• Launched in 2014 by World Crafts Council- International.
• Establishes a dynamic network of craft cities across the globe, aligning with the principles of creative economy.
• Recognizes the role of local authorities, craftspeople, and communities in cultural, economic, and social development worldwide.

The Finance Minister held that  the non-performing assets (NPA) associated with Mudra loans have come down  to 3.4% (2023-24) from 4.77%  (2020-21).

Mudra (Micro Units Development & Refinance Agency) Loans

• Given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs to the non-corporate, non-farm small/micro enterprises.
• Given under the Pradhan Mantri MUDRA Yojana (PMMY), 2015.
  • PMMY aims to bring small entrepreneurs within the formal financial system.
• Classified into three categories: Shishu, Kishor, Tarun.
  • In Budget 2024, the limit of MUDRA loans has been increased from Rs 10 lakh to Rs 20 lakh for those who have successfully repaid loans taken under tarun.

Air Force approves production of 200 Astra Mark 1 missile

About Astra Missiles

• It is a Beyond Visual Range (BVR) class of Air-to-Air Missile (AAM) system designed to be mounted on fighter aircraft. 
  • The ASTRA Mk-I Weapon System integrated with SU-30 Mk-I aircraft is being inducted into the Indian Air Force (IAF).
• It has range from 80 to 110 km.
• The missile is designed to engage and destroy highly manoeuvring supersonic aircraft.
• It is developed by the Defence Research and Development Organisation and manufactured by Bharat Dynamics Limited.

Lok Sabha recently passed outstanding Demands for Grants from Union Budget 2024-25

About Demand for Grants

• Form in which estimates of expenditure from consolidated fund included in budget are presented to Lok Sabha. .
• DFGs are submitted in pursuance of Article 113 of Constitution.
  • Article 113 (iii) says No demand for a grant shall be made except on the recommendation of the President.
• Once DFGs are approved (with or without modifications), they become part of the Appropriation Bill. 
• Bill once passed , allows government to withdraw funds from Consolidated Fund of India to meet its expenses and liability.

Agharkar Research Institute has described India’s first cultures of indigenous methanotrophs named Methylocucumis oryzae.

• Name ‘methane eating cucumbers’ has been given to this novel genus.

About Methanotrophs (Methane-utilizing bacteria)

• These bacteria oxidize methane and build up their biomass.
• Habitat: Wetlands, rice fields, ponds and other water bodies
• Biofiltering: These bacteria can oxidize methane produced in anaerobic environments.
  • When oxygen is present in soils, atmospheric methane is also oxidized.
  • These bacteria are natural methane mitigating agents.
• Significance: Tackling Global Warming by reducing methane concentration in soil & atmosphere.

CSIR develops durable batteries for energy solutions in remote sub-zero conditions.

Zinc Air Batteries

• Type of metal-air battery that consists of a zinc negative electrode and an air (oxygen) positive electrode.

CSIR developed Zinc air Battery: 

• It has been developed by combining an efficient durable cathode catalyst and an anti-freezing electrolyte fabricated for zinc-air batteries. 
• It used CoFe/Fe3C alloy/carbide hybrid structure which enhances durability and efficacy in both liquid and solid-state zinc-air batteries.
• Benefits: portable, flexible, lightweight and can be used in extreme cold conditions.

Centre’s PARIVESH portal crosses 50,000 clearances milestone.

About Parivesh Portal

• Parivesh stands for Pro Active and Responsive Facilitation by Interactive and Virtuous Environmental Single-window Hub.
• Developed by Ministry of Environment, Forest and Climate Change through NIC.

Objective

• Acts as a single window portal for Environment, Forest, Wildlife and Coastal Regulation Zone (CRZ) clearances and monitor their subsequent compliance across nation.