Rajya Sabha passed ‘The Protection of Interests in Aircraft Objects Bill, 2025’ aiming to align it as per Cape Town Convention (Convention on International Interests in Mobile Equipment) and Protocol on Matters Specific to Aircraft Equipment.

About Cape Town Convention and Protocol 

• Aim: Standardise transactions involving movable property, particularly high-value assets like aircraft, engines, and helicopters, to ensure creditors can enforce their rights in case of default.
• Adoption: Jointly by International Civil Aviation Organisation (ICAO) and UNIDROIT (International Institute for the Unification of Private Law) in 2001. 
• Parties:  65 Parties (2016) [India signed in 2008].

India saw a record 4,515 child adoptions in FY 2024-25 with CARA introducing 8,598 newly identified children into the adoption pool.

About CARA

• Genesis: 1990
• Nature: Statutory body as per the Juvenile Justice (Care and Protection of Children) Act, 2015 
• Ministry: Ministry of Women & Child Development.   
• Functions: Nodal body for adoption of Indian children, monitors and regulates in-country and inter-country adoptions through Child Adoption Resource Information & Guidance System (CARINGS).
• Designated as the Central Authority to deal with inter-country adoptions under Hague Convention on Inter-country Adoption, 1993 (ratified by India in 2003). 

Indian Prime Minister and Chilean President held bilateral talks during the latter’s visit to India. 

Key Outcomes

• Letter of Intent on Antarctica Cooperation: Chile as the gateway to Antarctica for India.
• India – Chile Cultural Exchange Program: Chile announced November 4 as its National Yoga day.
• Disaster Management: MoU between National Service for Disaster Prevention and Response (SENAPRED) and National Disaster Management Authority (NDMA). 
• Mining: Agreement for Cooperation and Exchange of Information between National Copper Corporation of Chile, CODELCO, and Hindustan Copper Limited. 
• CEPA: Agreed to initiate discussions on Comprehensive Economic Partnership Agreement (CEPA).

RBI announced Open Market Operation (OMO) to pump ₹80,000 crore into the banking system. 

About OMOs

• It refers to the Central Bank's (RBI) buying and selling of government bonds in the open market.
• It is among the Quantitative tools used by RBI to regulate the money supply, control inflation, and ensure economic stability. 
  • When RBI buys a Government bond, it increases the money supply. 
  • When RBI sells a bond, it leads to reduction in the money supply.

China launched new military drills named "Strait Thunder-2025A" in middle and southern parts of Taiwan Strait.

• A strait is a narrow body of water that connects two larger bodies of water.

About Taiwan Strait (Or Black Ditch)

• Named Formosa (“Beautiful”) by Portuguese navigators in the late 16th century.
• Location: Lying between China's Fukien province and Taiwan. 
• Connecting seas: Strait extends from southwest to northeast between South and East China seas. 
• Significance: Major global shipping corridor, with 44% of world’s container fleet moving through it.
• Median Line or Davis Line: Runs approximately down the middle of the Taiwan Strait. (Not recognised by China)

PM announced an ex-gratia from PMNRF to Fire Factory explosion victims in Gujarat.

About PMNRF:

• Genesis: Instituted by former PM Jawaharlal Nehru to assist displaced persons from Pakistan in 1948.
• Usage: Utilized primarily to render immediate relief to families of those killed in natural calamities like floods, cyclones and earthquakes, etc.
  • Assists partially to defray the expenses for medical treatment like heart surgery, kidney transplantation, cancer treatment of needy people and acid attack etc.
• Source of funding: Fund consists entirely of public contributions and does not get any budgetary support. 
• All contributions towards PMNRF are exempt from Income Tax under section 80(G).

The Finance Minister recently launched the “NITI NCAER States Economic Forum” portal.

• Portal has been developed by NITI Aayog, in collaboration with the National Council of Applied Economic Research (NCAER).

About the Portal

• It is a comprehensive repository of data on social, economic and fiscal parameters, including research reports, papers, and expert commentary on State Finances for a period of about 30 years (1990-91 to 2022-23). 
• Objective: Portal will help States to make informed policy decisions in public finances like raising revenues, managing debts and learning from peer experiences.

Recently, Minister of State for Heavy Industries and Steel updated Parliament on 4 Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) Centres.

• These were set up under the Scheme for “Enhancement of Competitiveness in the Indian Capital Goods Sector”.

 About SAMARTH Centres

• SAMARTH Udyog Bharat 4.0 is an Industry 4.0 initiative of Ministry of Heavy Industry & Public Enterprises.
  • Industry 4.0 is characterized by integration of digital technologies like AI, IoT, and robotics, aiming for enhanced efficiency, flexibility, and smart decision-making.
• These centres provide assistance to industries including MSMEs to train the workforce and make them aware about Industry 4.0 technologies through workshops, consultancy, and incubation support to start- ups.