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Why in the news? Prime Minister Narendra Modi assumed office for the third consecutive term on June 10. The new Union Cabinet’s first decision was to assist in constructing three crore more houses under the Pradhan Mantri Awas Yojana (PMAY). source:geeksforgeeks About the Pradhan Mantri Awas Yojana (PMAY): Launch: Initiated in 2015 by Prime Minister …
Read MoreWhy in the news? Pralhad Joshi, as the new food and consumer affairs minister, aims to curb food inflation and manage PDS costs. Measures include increasing pulse production, offloading rice stocks, liberalizing onion exports, and adjusting edible oil import duties. source:medium About Public Distribution System (PDS): Establishment: Indian food security system under the Ministry of …
Read MoreWhy in the news? Crisil predicts ARCs will see a recovery rate increase to 16-18% by March 2025 due to improved residential real estate conditions. Recovery driven by demand, price appreciation, and regulatory amendments aiding resolution of stressed real estate projects. source:geeksforgeeks About Asset Reconstruction Companies (ARCs): Specialized financial institutions purchasing bank bad debts to …
Read MoreWhy in the news? India welcomed Egypt, Iran, UAE, Saudi Arabia, and Ethiopia to BRICS at a meeting hosted by Russia. Senior diplomat Dammu Ravi led the Indian delegation at the BRICS Foreign Ministers’ Meeting in Nizhny Novgorod, Russia. The Ministry of External Affairs spokesperson, Randhir Jaiswal, expressed India’s wholehearted welcome to the new members. …
Read MoreWhy in the news? ISRO’s Aditya-L1 spacecraft’s instruments, SUIT and VELC, captured significant solar activities including X-class and M-class flares and Coronal Mass Ejections in May 2024. These solar events caused a major geomagnetic storm on May 11, 2024. source:scribd Aditya-L1 Mission: First space-based observatory-class Indian solar mission. Distance: 1.5 million kilometers from Earth. Duration …
Read MoreWhy in the news? Sub-Lieutenant Anamika B. Rajeev becomes the Indian Navy’s first female helicopter pilot. Awarded the prestigious ‘Golden Wings’ by Vice-Admiral Rajesh Pendharkar. Held at INS Rajali, Arakkonam in Tamil Nadu About INS Rajali : Location and Operations: INS Rajali is an Indian naval air station near Arakkonam, Tamil Nadu. Operates under the …
Read MoreWhy in the news? Singapore believes the election results won’t affect their deep and enduring ties with India. Recognizes India’s democratic process and the complexities influencing voters’ decisions. Views missed opportunities like RCEP withdrawal but remains optimistic about bilateral trade agreements. source:wordpress About Regional Comprehensive Economic Partnership(RCEP): RCEP Overview: ASEAN-led economic agreement with FTA partners, …
Read MoreWhy in the news? New Zealand’s government plans to introduce legislation to lift the ban on offshore petroleum exploration, aiming to stimulate investment in the country’s oil and gas sector. The proposed bill seeks to overturn the ban implemented in 2018, except for exploration in the energy-rich Taranaki region, signaling a shift in New Zealand’s …
Read MoreWhy in the news? The National Investigation Agency (NIA) arrested Lunminsei Kipgen, currently in Guwahati jail, for involvement in the killing of four civilians in Manipur. Kipgen, a former cadre of a Kuki militant outfit, who had joined the United Kuki National Army is the first accused arrested in connection with the January 18 incident …
Read MoreWhy in the news? The NCLT has initiated insolvency proceedings against Himalayan Mineral Waters following a default on a corporate guarantee for Leel Electricals, as per Jammu & Kashmir Bank’s plea. Bhoopesh Gupta has been appointed as the interim resolution professional for the firm’s Corporate Insolvency Resolution Process (CIRP). source:scribd About National Company Law Tribunal …
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