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RBI to implement Mega Bank Consolidation Plan Context : The Reserve Bank of India (RBI) stated that the schemes for the merger of 10 state-run banks into four lenders will come into force from 1 April.  RBI also stated that the branches of merging banks will operate as of the banks in which the banks have been amalgamated.The banks sought to defer the mRead More…

Defence Research and Development Organisation (DRDO) Context : Defence Research and Development Organisation (DRDO) has been tracking the spread of Coronavirus (COVID-19) since the world media started reporting its devastating impact in China’s Wuhan Province. The DRDO took a call in first week of March 2020 to enhance efforts to create counter measures to stop the spread of the disease iRead More…

G20 Virtual Summit Context : The video conference summit was held on 26 March 2020. The G20 nations agreed to collectively inject $5 trillion into the world economy. The move by the countries is to counteract the social, economic and financial effects of the COVID-19 pandemic. G20 Summit Highlights : Prime Minister Narendra Modi represented India in a videRead More…

Glaciers in Sikkim are losing mass faster than other parts of the Himalaya Context : Scientists from Wadia Institute of Himalayan Geology (WIHG), Dehradun an autonomous research institute for the study of Geology of the Himalaya under the Department of Science and Technology, have found that glaciers in Sikkim are melting at a higher magnitude as compared to other Himalayan regionRead More…

Recapitalization of Regional Rural Banks  Context : The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval for continuation of the process of recapitalization of Regional Rural Banks to improve their Capital to Risk Weighted Assets Ratio. Benefits : A financially stronger and robust Regional Rural Banks with improved CRead More…

Budget Session of Parliament adjourned sine die Context : The Budget Session of Parliament concluded on 23 March. The session was scheduled to conclude on 3 April 3. But it has now be adjourned sine die in the wake of deadly COVID-19 and lockdowns announced by many states for varied periods. Session of Indian Parliament : A session of the Parliament of India is the time period during Read More…

ICMR recommends use of hydroxychloroquine to treat Coronavirus Context : The national task force for COVID-19, constituted by the Indian Council for Medical Research (ICMR), has recommended the use of hydroxychloroquine to treat COVID-19 for a high-risk population.  ICMR directed that the hydroxy-chloroquine should be given to high-risk population asympRead More…

UN releases World Happiness Report 2020 Context : United Nations released the World Happiness Report 2020. Highlights : The World Happiness Report ranks 156 countries by how happy their citizens perceive themselves.The report is a landmark survey of the state of global happiness. This is the 8th edition of the World Happiness Report.The special focus of the World HappinRead More…

Protecting peatlands can help attain climate goals Context : The Food and Agriculture Organization operating under United Nations released a report recently on Peatlands. The report says that though Peatlands cover only 3% of the earth’s surface, they trigger the carbon that were locked in a few decades. Key findings : Peatlands cover only three per cent of Earth’s surface. HowRead More…

National Aquifer Mapping and Management programme (NAQUIM) context : Central Ground Water Board (CGWB) is implementing National Aquifer Mapping and Management programme (NAQUIM). Highlights : envisages mapping of aquifers (water bearing formations), their characterization and development of Aquifer Management Plans to facilitate sustainable management of Ground Water Resources. NRead More…