1. INDIA’S SPACE STATION (Syllabus: GS Paper 3 – Sci and Tech)

Context: US space agency NASA will train an Indian astronaut for a mission to the International Space Station (ISS) by the end of 2024.

Indian Space Station Program

• About: The Indian Space Station is anticipated to have a considerably smaller scale, weighing around 20 tonnes, in contrast to the International Space Station's 450 tonnes and the Chinese Tiangong Space Station's 100 tonnes.
• Orbital Structure: Envisaged as a modular structure constructed in orbit, the planned space station aims to function as a central hub for scientific research, Earth observation, and astronaut training.
• Research Platform: Serving as a testament to India's expanding prowess in space technology, it is poised to drive progress in diverse areas such as microgravity research, climate monitoring, and human spaceflight.

NISAR

• Joint Development: NISAR, the Low Earth Orbit (LEO) observatory, is a collaborative effort between NASA and ISRO.
• Size and Weight: This SUV-sized satellite boasts a weight of 2,800 kilograms.
• Dual-Frequency Radar: NISAR features both L-band and S-band synthetic aperture radar (SAR) instruments, making it a unique dual-frequency imaging radar satellite.
• Capabilities: To utilize two different radar frequencies (L-band and S-band) for monitoring and measuring changes in the Earth's surface.

International Space Station (ISS):

• It is the largest modular space station in low Earth orbit. The project involves five space agencies:

oThe US' NASA, Russia's Roscosmos, Japan's JAXA, Europe's ESA, and Canada's CSA. It orbits Earth approximately every 90 minutes, at an altitude of around 400 kilometers.

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2. RISK WEIGHTS Syllabus GS Paper 3 - Economy)

Context: The Reserve Bank of India (RBI) raised risk weights on specific consumer credit categories to 125% from 100% starting October 1, 2023, necessitating banks and NBFCs to allocate additional capital for these loans.

Capital Adequacy Ratio (CAR)

• About: It is the ratio of a bank’s capital in relation to its risk weighted assets and current liabilities. It is decided by central banks and bank regulators to prevent commercial banks from taking excess leverage and becoming insolvent in the process.
• Formula:

oCapital Adequacy Ratio = (Tier I + Tier II + Tier III (Capital funds)) /Risk weighted assets.

oThe risk weighted assets take into account credit risk, market risk and operational risk.

• Required CRAR: The Basel III norms stipulated a capital to risk weighted assets of 8%. However, as per RBI norms, Indian scheduled commercial banks are required to maintain a CAR of 9% while Indian public sector banks are emphasized to maintain a CAR of 12%.

RBI Proposal

• Credit Risk Defined: It pertains to the risk faced when a borrower fails to meet obligations or defaults on commitments.
• Indicator Significance: It serves as an indicator of the essential holding that lenders should ideally maintain to balance associated risks.
• RBI Directive: The RBI has directed an increase in this crucial metric.
• Objective: The primary goal of effective risk management by banks is to maximize returns by keeping credit risk exposure within acceptable parameters.

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3. AIGF (Syllabus: GS Paper 2 – IR)

Context: Recently, India, along with 10 ASEAN Member States (AMS), was prominently represented by 200 participants at the 4th edition of the annual ASEAN India Grassroots Innovation Forum (AIGIF) launched in Langkawi, Malaysia.

ASEAN India Grassroots Innovation Forum (AIGIF)

• About: The annual program is a collaboration between the ASEAN Committee on Science, Technology, and Innovation (COSTI); Department of Science & Technology (DST), Government of India; National Innovation Foundation (NIF) – India and the Science and Technology Ministry of the host nation, Malaysia’s Ministry of Science, Technology and Innovation (MOSTI).
• Focus: On fostering a strengthened relationship between India and AMS on the premise of cooperation in Science, Technology, and Innovation (STI). 
• Aim: To give exposure to social innovations in different countries, it also strengthens governance in the grassroots innovation ecosystem.

Association of Southeast Asian Nations (ASEAN)

• Established: In 1967, by the Bangkok Declaration.
• Type:  A political and economic union of 10 member states in Southeast Asia.
• Members: Indonesia, Singapore, Philippines, Malaysia, Brunei, Thailand, Cambodia, Lao PDR, Myanmar, and Vietnam.
• Objective: It promotes inter-governmental cooperation and facilitates economic, political, security, military, educational, and socio-cultural integration between its members and countries in the Asia-Pacific.
• Secretariat: Jakarta, Indonesia.

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4. COMPRESSED BIOGAS (Syllabus: GS Paper 3 – Env and Eco)

Context: Recently, India has solidified its prominent role in the global sugar economy by becoming the leading sugar producer since the 2021-22 season, surpassing Brazil.

• It stands as the second-largest sugar exporter globally.

Key Points

• Pressmud, a residual byproduct in the sugar industry often known as filter cake or press cake, has been acknowledged as a valuable resource for green energy production.
• The byproduct can help Indian sugar mills generate extra revenue by utilising it as a feedstock for biogas production through anaerobic digestion and subsequent purification to create compressed biogas (CBG).
• Primary Sugarcane-Growing States: Uttar Pradesh and Maharashtra, contribute to approximately 65 per cent of the total sugarcane cultivation area.
• In India's sugar industry, sugarcane is a heavy, low-value, weight-losing, and perishable raw material.

Compressed Bio Gas (CBG)

• About: CBG is a combination of hydrocarbon gases and vapors, predominantly methane in gaseous form.
• Originate: It is derived from the decomposition of animal and plant waste, undergoes purification, and is then compressed for use in automotive fuel and industrial applications.
• Biogas, once purified by removing carbon dioxide and hydrogen sulphide, can be compressed similar to the process used for natural gas to produce Compressed Natural Gas (CNG).
• The compressed form of biogas, known as CBG, is suitable for powering motor vehicles.

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5. MOST FAVOURED NATION (Syllabus: GS Paper 3 – Economy)

Context: Recently, European multinational companies grappling with substantial tax demands in India have filed a review petition, urging the Supreme Court to apply the Vienna Convention in interpreting the most-favored-nation (MFN) clause in tax treaties.

Most Favoured Nation (MFN)

• About: MFN status refers to a level of treatment granted by one country to another in the context of international trade.
• It means no country should give special treatment to goods or services coming from one particular trading partner.
• Origin: MFN principle is a cornerstone of the multilateral trading system conceived after World War II.
• Exceptions for MFN: Trade blocs like the USMCA and the European Union, which are allowed to discriminate against imports from outside the bloc. It reduces trade barriers in response to unfair competition

Benefit of MFN

• Facilitates entry into broader markets for traded goods.
• Lowers the export item expenses through significantly reduced tariffs and diminished trade barriers.
• Enhances competitiveness in trade.
• Streamlines bureaucratic obstacles, ensuring uniform tariffs for all imports.

Vienna Convention on the Law of Treaties (VCLT):

• It is an international agreement that regulates treaties among sovereign states. It was signed in 1969 and effective from 1980.
• Known as the "treaty on treaties", the VCLT establishes comprehensive, operational guidelines, rules, and procedures for how treaties are drafted, defined, amended, and interpreted.
• Signatories: 45, India not a party.

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6. SILKYARA TUNNEL (Syllabus: GS Paper 3 – Economy/Infrastructure)

Context: Recently, Union Minister for Road Transport and Highways of India, expressed his complete relief and happiness as 41 trapped laborers in the Silkyara Tunnel Collapse have been successfully rescued.

Silkyara Tunnel 

• Location: The 4.5-km tunnel is currently under construction, connecting Silkyara and Dandalgaon on the Brahmakhal-Yamunotri segment of the National Highway.
• Project Purpose: This tunnel forms a crucial part of the Char Dham all-weather road initiative, linking four sacred Hindu sites.
• Government Initiative: The Chardham Mahamarg Vikas Pariyojana is an initiative by the Central government aimed at enhancing road connectivity to the four sacred sites in Uttarakhand: Gangotri, Yamunotri, Kedarnath, and Badrinath.
• Objective: To upgrade and widen 1100 km of highways, transforming them into all-weather roads.

Other Incidents of Tunnel Collapse in Himalayas

• Kiratpur- Nerchowk Tunnel collapse in Himachal Pradesh, 2015
• Tehri Hydropoject Tunnel Collapse 2004.

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7. SMART CITIES MISSION (Syllabus: GS Paper 2 – Govt Schemes)

Context: The government has stepped up monitoring of projects under the Smart Cities Mission (SCM), with about 21% of the projects yet to be completed and seven months remaining to meet the extended deadline of June 2024.

Smart Cities Mission (SCM)

• Launched by: June, 2015.
• Ministry: Union Housing and Urban Affairs Ministry.
• Objective: To promote cities that provide core infrastructure, clean and sustainable environment, and give a decent quality of life to their citizens through the application of ‘smart solutions’.
• Focus Area: Sustainable and inclusive development by the creation of replicable models that act as lighthouses to other aspiring cities.
• Coverage: 100 cities
• Funding: This Mission is operated as a Centrally Sponsored Scheme.
• Extension: June 2023 to June 2024

Status of the Projects Under the Mission

• With about 768 projects, Karnataka topped the list of states with the most completed projects, followed by Madhya Pradesh (577), Uttar Pradesh (553), and Tamil Nadu (531).
• Indore had the highest number of completed projects among all cities, while Shillong had the lowest — just one.

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8. ELECTION COMMISSION OF INDIA (Syllabus: GS Paper 2 – Polity)

Context: Recently, Election Commission of India (ECI) issued a notice to the Karnataka government over publishing advertisements related to its achievements in newspapers in poll-bound Telangana.

Election Commission of India (ECI)

• About: Established by the Constitution of India, the Election Commission is a permanent and autonomous entity.
• Article 324: It provides that the power of superintendence, direction and control of elections to parliament, state legislatures, the office of president of India and the office of vice-president of India shall be vested in the election commission.
• Composition: Consist of the Chief Election Commissioner and a such number of other election commissioners, if any, as the President may from time to time fix.
• Appointment: Chief election commissioner and other election commissioners shall be made by the President.
• Tenure: The President may by rule determine it
• Removal: Process of removal similar to that of a Supreme Court judge by Parliament.

Power and Functions

• To prepare and periodically revise electoral rolls and to register all eligible voters.
• To notify the dates and schedules of elections and to scrutinize nomination papers.
• To determine the code of conduct to be observed by the parties and the candidates at the time of elections.
• To advise the president whether elections can be held in a state under president’s rule in order to extend the period of emergency after one year.
• To advise the governor on matters relating to the disqualifications of the members of the state legislature.

The Chief Election Commissioner And Other Election Commissioners Bill, 2023: It replaces the Election Commission (Conditions of Service of Election Commissioners and Transaction of Business) Act, 1991.

• It provides for the appointment, salary, and removal of the Chief Election Commissioner (CEC) and Election Commissioners (ECs).
• The CEC and ECs will be appointed by the President upon the recommendation of a Selection Committee.
• The Selection Committee will consist of the Prime Minister, a Union Cabinet Minister, and Leader of Opposition/leader of the largest opposition party in Lok Sabha.

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9. NEW SPECIES IN KMTR (Syllabus: GS Paper 3 – Env and Eco)

New Plant Species

• About: The species is named 'Impatiens Karuppusamyi' in honor of S. Karuppusamy for his significant contributions to the taxonomy of South Indian angiosperms.
• Habitat: The plant is exclusively found in the Agasthyamalai region within the southern Western Ghats.
• Seasonal Appearance: Belonging to the scapigerous group, the plant, devoid of stems, emerges only during the monsoon season, gracing the surroundings for a brief period.
• Genus Diversity: Over 1,000 species of flowering plants, exhibit a wide distribution across tropical Africa, Madagascar, India, Sri Lanka, and China.

Kalakkad Mundanthurai Tiger Reserve

• Location: Southern Western Ghats, in the Tirunelveli and Kanyakumari districts of Tamil Nadu.
• Composition: Comprising three main sanctuaries—Kalakkad Sanctuary, Mundanthurai Sanctuary, and a segment of Kanyakumari Sanctuary.
• Agastya Malai Hill Range: Nestled between Kerala and Tamil Nadu, it forms the core area of the sanctuary and represents one of the world's 18 biodiversity hotspots.
• River Sanctuary: Known as the “River Sanctuary," with a notable distinction of being the source of 14 rivers within this Tiger Reserve.
• Flora: Dry thorn forest to dry deciduous, moist deciduous, and features a patch of West Coast wet evergreen forests on the higher reaches.
• Fauna: Lion-tailed Macaque, Nilgiri Tahr, Nilgiri Pipit, Grey Headed Bulbul, Blue Winged Parakeet, and more.

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10. ASTROSAT (Syllabus: GS Paper 3 – Sci and Tech)

Context: India's first multi-wavelength space telescope, AstroSat, has successfully detected its 600th Gamma-ray Burst (GRB), an event named GRB 231122B.

Astrosat

• About: India's premier multi-wavelength space observatory, AstroSat, focuses on studying celestial sources in X-ray, optical, and UV spectral bands simultaneously.
• Launched by: The Indian PSLV from Sriharikota on September 28, 2015
• Orbit: 650 km orbit inclined at an angle of 6 degrees to the equator.
• Mission Operations: The spacecraft is managed by the Mission Operations Complex (MOX) at ISRO's Telemetry, Tracking, and Command Network (ISTRAC) in Bengaluru throughout its mission life.
• Duration: Around 5 years, ensuring sustained scientific observations.
• Scientific Payloads: Equipped with five scientific payloads, AstroSat enables imaging and studying the temporal and spectral properties of cosmic sources in various wavelengths on a unified platform.
• Objectives:

oInvestigate high-energy processes in binary star systems containing neutron stars and black holes.

oEstimate magnetic fields of neutron stars.

oExplore star birth regions and high-energy processes in star systems beyond our galaxy.

oDetect new, briefly bright X-ray sources in the sky.

Gamma-ray bursts (GRBs):

• About: They are the most powerful and violent explosions in the known universe. These brief flashes of high-energy light result from some of the universe's most explosive events, including the birth of black holes and collisions between neutron stars. 
• Lasting a few milliseconds to several minutes, according to NASA, GRBs can be hundreds of times brighter than an average supernova, making them as luminous as a million trillion suns.
• Thus, when a GRB erupts, it briefly becomes the brightest source of electromagnetic radiation in the observable universe.

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