News: In a historic and awe-inspiring achievement, India’s tennis ace Rohan Bopanna has etched his name in the annals of sports history, scripting a world record by becoming the oldest man to reach a Grand Slam final.
Bopanna’s remarkable journey to the pinnacle of tennis came to fruition at the venerable age of 43, as he defied the odds and expectations to reach the championship match of a Grand Slam event.
This momentous feat took place at one of the most prestigious tennis tournaments on the planet, as Bopanna navigated his way through the tough competition at Wimbledon, the hallowed grounds of the All England Lawn Tennis and Croquet Club.
With his deft skills, unyielding determination, and a wealth of experience accumulated over decades, Bopanna showcased that age is truly just a number when it comes to pursuing one’s passion and dreams.
The Indian tennis stalwart’s remarkable journey to the final was a testament to his unwavering commitment to the sport. He displayed remarkable resilience, both physically and mentally, as he faced formidable opponents on the grass courts of Wimbledon.
His unyielding spirit and unmatched skills on the court captured the imagination of fans worldwide, inspiring countless individuals to never give up on their ambitions, regardless of age.
Bopanna’s achievement not only serves as a source of immense pride for India but also exemplifies the universal appeal of sports. It highlights the enduring power of human determination, proving that age should never be a barrier to pursuing greatness.
His record-breaking journey to the Grand Slam final will be remembered as a shining example of what can be accomplished with passion, perseverance, and an unwavering belief in oneself.
As Rohan Bopanna prepares to take the center stage at Wimbledon’s final match, he carries with him the hopes and dreams of a nation and the admiration of a global audience.
His remarkable achievement is a testament to the enduring spirit of sportsmanship and the limitless potential of human achievement, reminding us all that the pursuit of excellence knows no age limit.
One Sun, One World, One Grid Initiative
News: Recent events in New Delhi included a one-day seminar on “Transnational Grid Interconnections for One Sun, One World, One Grid (OSOWOG)”.
At the First Assembly of the International Solar Alliance (ISA) in October 2018, the Prime Minister of India proposed the OSOWOG proposal. The project intends to link international energy supply.
In order to fully utilize the potential of renewable energy sources, particularly solar energy, it attempts to connect many regional grids through a single common grid.
The World Bank Group, the International Solar Alliance (ISA), and the governments of India and the United Kingdom are working together to lead the initiative.
To hasten the development of the new infrastructure required for a future powered by clean energy, it will bring together a global coalition of national governments, international financial and technical institutions, legislators, power system operators, and knowledge leaders.
How soon will it be finished? The ISA anticipates establishing the grid during the following few years. Once operational, it will deliver solar energy to several nations.
International Solar Alliance
At the United Nations Climate Change Conference held in Paris in 2015, the Prime Minister of India and the President of France established the ISA, an intergovernmental body.
The International Solar Alliance (ISA) is a groundbreaking initiative aimed at promoting solar energy on a global scale.
ISA’s primary objective is to facilitate cooperation among its member nations in harnessing the potential of solar energy to combat climate change, reduce dependence on fossil fuels, and ensure sustainable energy for all.
As of my last knowledge update in September 2021, the alliance had over 120 member countries, including several countries from Africa, Asia, Europe, and the Pacific region.
One of ISA’s key initiatives is to promote solar power generation through the development of affordable and accessible solar technologies, capacity building, and research and development collaborations.
The organization also works on creating a conducive policy framework to attract investments in the solar sector, fostering innovation, and facilitating the sharing of best practices among member nations.
ISA’s long-term vision is to mobilize more than a trillion dollars in investment for solar projects, enabling its member nations to achieve their sustainable development goals while mitigating the effects of climate change.
The alliance plays a pivotal role in advancing solar energy as a viable and environmentally friendly alternative to conventional energy sources, ultimately contributing to a greener and more sustainable future for all.
Sovereign Gold Bond (SGB) Scheme : RBI
News: The Sovereign Gold Bond (SGB) Tranche 2 issue price was just disclosed by the Reserve Bank of India (RBI).
Under the Gold Monetization Scheme, the Government of India created the Sovereign Gold Bond (SGB) Scheme in 2015.
SGBs are government securities that the RBI issues on behalf of the Indian government.
They serve as alternatives to holding actual gold. SGBs have a base unit of 1 gramme and are measured in grams of gold.
The issuance price for investors must be paid in cash, and the bonds must be redeemed in cash when they reach maturity.
The sale of the Bonds shall be limited to resident Indian entities, including people (acting alone, jointly with another individual, or on behalf of a minor child), HUFs, Trusts, Universities, and Charitable Institutions.
The bond will have an 8-year tenor with three exit options that can be utilized on interest payment dates in the fifth, sixth, and seventh years.
Investment Cap
1 gram of gold is the minimum.
Maximum: 20 Kg for trusts, 4 Kg for people, and 4 Kg for HUF.
Interest: 2.5% annually, paid every six months.
Gold Monetization Scheme (GMS)
The Gold Monetization Scheme (GMS) is a government-backed initiative launched by the Reserve Bank of India (RBI) to mobilize the idle gold reserves held by individuals, households, and institutions in the country.
Introduced in 2015, the primary objective of the GMS is to put the massive stocks of privately held gold to productive use, reduce the nation’s reliance on gold imports, and promote financial inclusion.
Under the scheme, individuals can deposit their gold in designated banks and earn interest on their deposits, similar to a fixed deposit scheme.
These banks, known as Collection and Purity Testing Centers (CPTCs), are responsible for assessing the purity of the deposited gold and storing it securely.
The deposited gold is then utilized by the banks for various purposes, including lending to jewelers and other sectors that require gold.
One of the key benefits of the Gold Monetization Scheme is that it provides an opportunity for individuals to earn interest on their gold holdings instead of letting it remain idle in lockers or safes.
Additionally, it helps in reducing the outflow of foreign exchange for gold imports, thereby stabilizing the country’s current account deficit.
WTO Dispute Settlement System : G20 Summit
News: The World Trade Organization (WTO) dispute settlement mechanism will be “fully and well-functioning” by 2024, according to the G20 leaders’ latest statement.
The primary WTO agreement for resolving disputes is the WTO Dispute Settlement Mechanism.
To resolve disputes between WTO members, the General Council of the organization meets as the Dispute Settlement Body (DSB).
The DSB is permitted to:
Create panels for dispute resolution;
Approve panel, Appellate Body, and arbitration reports, and submit disputes to arbitration;
Keep an eye on the implementation of the recommendations and decisions found in these reports;
Authorize the suspension of concessions in the event that those suggestions and decisions are not followed;
Negotiations are the ideal method for resolving disagreements.
WTO Members have the option to ask for the creation of a panel to resolve the dispute if this is not feasible.
The panel will publish a report that can then be challenged on legal grounds before the WTO Appellate Body.
The permanent seven-member Appellate Body, which was established by the DSB and roughly represents the breadth of WTO membership, handles appeals.
It considers appeals from panel reports in disputes that WTO members have filed.
The legal conclusions and judgements of a panel may be upheld, modified, or reversed by the appellate body.
If a WTO member disregards recommendations made by dispute settlement, trade penalties or fines, such as an increase in customs charges, may be imposed.
India's No.1 PU & Degree With Integrated IAS & IPS(UPSC/PSC) Training College.
