1.E-RUPEE

 Major fintech companies, including Google Pay, PhonePe, Amazon Pay, Cred, and Mobikwik are looking to join the Reserve Bank of India’s (RBI) digital currency project by allowing their users to transact in e-rupee via Unified Payments Interface (UPI).

Background:

• Initially, only banks were allowed to offer e-rupee transactions, but the RBI has now opened the project to payment firms to increase transaction volumes and user engagement.

About e – rupee

• The e-rupee, or digital rupee, is a digital currency issued by the Reserve Bank of India (RBI).
• It was launched on a pilot basis in December 2022.
• It is available entirely in electronic form and does not leave computer network.

Types:

• Retail e-Rupee: Intended for general public use, allowing individuals to make everyday transactions.
• Wholesale e-Rupee: Designed for financial institutions to facilitate interbank transactions and other large-scale financial activities.

Features:

• Legal Tender: The e-rupee is like banknotes issued by the RBI and is a legal tender that can be used to make transactions. The only difference is that they can only be transacted online.
• Non-Interest Bearing: The digital rupee in users wallets does not attract interest payments from the central bank.
• Conversion: Deposits held in banks can be converted into digital rupees and vice versa for ease of use.

Objectives:

• Efficiency: Aims to enhance the efficiency and security of transactions.
• Accessibility: Provides an additional option for using money, especially in a digital format.

Implementation

• Initially offered by a select group of public and private banks in a few major cities.
• Usage: Can be used for both person-to-person and person-to-merchant transactions.
• Modernization: Represents a step towards modernizing India’s financial system.
• Adoption: With fintech companies joining the initiative, the adoption rate is expected to increase further.

2.METHANOTROPHS

Researchers at MACS Agharkar Research Institute, under the Department of Science and Technology, have isolated and described the first indigenous methanotroph cultures in India.

Background:

• The discovery of native methane-eating bacteria in the country’s rice fields and wetlands offers a promising natural solution to mitigate climate change and combat greenhouse gases

About methanotrophs :

• Methanotrophs, also known as methanophiles, are fascinating microorganisms that metabolize methane as their primary source of carbon and energy.
• They can be either bacteria or archaea and are capable of growing in both aerobic (with oxygen) and anaerobic (without oxygen) conditions.

Key Characteristics:

• Metabolism: Methanotrophs utilize methane, converting it into formaldehyde, which is then used to produce energy or assimilated into biomass.
• Habitat: These organisms are commonly found in environments where methane is produced, such as wetlands, soils, marshes, rice paddies, landfills, and aquatic systems like lakes and oceans.
• Environmental Role: Methanotrophs play a crucial role in reducing methane emissions to the atmosphere, thereby helping mitigate global warming

Applications:

• Environmental: Methanotrophs are being explored for their potential in bioremediation and wastewater treatment, where they can help reduce methane emissions.
• Biotechnology: They are also being studied for their ability to convert methane into valuable bioproducts, such as biofuels and bioplastics.

3.Places in news NIGERIA

 Nigeria’s president called for end to protests against economic hardships. Amnesty International has said at least 13 people were killed in clashes with security forces on the first day of protests in Nigeria.

• Nigeria, officially known as the Federal Republic of Nigeria, is a country in West Africa.
• Abuja serves as the capital, while Lagos is the largest city in Nigeria and one of the largest metropolitan areas in the world.
• The economy faces challenges, and the country is in the midst of a severe economic downturn. Nigeria experiences high levels of poverty and youth unemployment.
• It is situated between theSahel to the north and the Gulf of Guinea to the south in the Atlantic Ocean.
• Nigeria is bordered by: Niger (north), Chad (northeast), Cameroon (east), and Benin (west).
• The country has a population of over 200 million people, with more than 250 ethnic groups, and over 500 languages spoken.It isAfrica’s most populous country.
• Nigeria is a founding member of theAfrican Union and a member of many international organizations, including the United Nations, the Commonwealth of Nations, NAM, the Economic Community of West African States, Organisation of Islamic Cooperation and OPEC.
• Nigeria is Africa’s top oil producer. But it faces many challenges such as;
  • Political instability and corruption
  • Economic inequality and poverty
  • Security concerns, including Boko Haram insurgency
  • Environmental degradation and pollution
  • Healthcare and education challenges

4.WESTERN GHATS

Karnataka Forest Minister Eshwar Khandre recently announced the formation of a task force aimed at addressing encroachments in the Western Ghats.This task force, led by the Principal Chief Conservator of Forests and Head of Forest Force, will focus on clearing illegal resorts, homestays, and other encroachments in the ghat regions. The urgency of this action is underscored by recent landslides in Shirur, where over 10 people lost their lives.

About Western Ghats

• The Western Ghats, also known as the Sahyadri, is mountain range that stretches 1,600 km along the western coast of the Indian peninsula.
• The Western Ghats traverse several Indian states: Gujarat, Maharashtra, Goa, Karnataka, Kerala, and Tamil Nadu.
• These mountains form an almost continuous chain along the western edge of the Deccan Plateau, from the Tapti River to Swamithoppe in Kanyakumari district at the southern tip of India.
• The range meets with the Eastern Ghats at Nilgiris before continuing south.
• Anamudi is the highest peak in Western Ghats.

Features:

• Biodiversity Hotspot: These mountains harbour an incredible array of plant and animal species. Over 5,000 flowering plants, 139 mammal species, 508 bird species, and countless insects call the Ghats home.
• Endemic Species: Many species found here are unique to the region. For instance, the Nilgiri tahr (a mountain goat), the Malabar giant squirrel, and the lion-tailed macaque are endemic to the Western Ghats.
• Rainfall Patterns: The Ghats intercept monsoon winds, leading to heavy rainfall on the windward side (western slopes) and a rain shadow effect on the leeward side (eastern slopes). This influences India’s overall climate.
• Water Source: Numerous rivers originate in the Western Ghats, including the Godavari, Krishna, and Cauvery. These rivers play a vital role in supporting agriculture and ecosystems downstream.
• UNESCO World Heritage Site: Recognized for its ecological significance, the Western Ghats are a designated World Heritage Site, emphasizing their importance for global conservation efforts.

5.TEA INDUSTRY

India has taken several steps to boost the output, create a niche brand for Indian tea, and ensure the welfare of the families associated with the tea industry.

ABOUT

• India is the 2nd largest tea producer and largest black tea producer after China and 4th largest exporter of Tea in the world.
• India is also the largest consumer of black tea and accounts for 18% of the total World tea consumption.
• The main tea-growing regions are in the Northeast (including Assam) and in north Bengal (Darjeeling district and the Dooars region).
• Tea is also grown on a large scale in the Nilgiris in south India.

Ideal climate condition for tea cultivation:

• Originate in tropical and subtropical climates.
  • Major tea growing regions are mainly concentrated in Asia, Africa, South America.
• Tea requires cool to warm temperatures with at least 5 hours of sunlight per day.
  • The average annual temperature for tea plants to grow well is in the range of 15 – 23°C.
  • The rainfall needed is between 150-200 cm.

Market Size of Tea Industry in India:

• In 2020, nearly 10 million tons of tea was consumed in the country.
• The market in the country is projected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 4.2%.
• In 2026, the tea industry in India is expected to attain 1.40 million tons.

Tag for Geographical Indication (GI)

• The first GI tag product was Darjeeling Tea, also known as the “Champagne of teas” due to its floral aroma.
• Green and white tea, the other two Darjeeling tea varieties, also have GI tags.
• The Indian tea industry is being developed and promoted by the Tea Board of India.

About Tea Board of India:

• The genesis of the Tea Board India dates back to 1903 when the Indian Tea Cess Bill was passed.
• The present Tea Board was set up under Section 4 of the Tea Act 1953.
• It is functioning as a statutory body of the Central Government under the Ministry of Commerce.
• The Board is constituted of 31 members (including Chairman) drawn from Members of Parliament, tea producers, tea traders, tea brokers, consumers, and representatives of Governments from the principal tea producing states, and trade unions .
• HQ: Kolkata
• The Board is reconstituted every three years.
  • Earlier, the Tea Board had offices in Cairo and Kuwait.
  • But these two offices were relocated to Dubai.

Issues associated with the Indian Tea sector:

• Stiff competition and improved standards in the world market – due to low product prices from Kenya and other countries – increasing demand for organic tea and quality assurance that entails environmental justice.
• Decline in productivity and quality – Tea bushes must be replanted every five years, but most Tea bushes older than 20 yrs.; uneven rainfall due to climate change – is affecting the productivity and quality of Indian Tea leading to lower prices at Tea auctions.
• Poor worker conditions and low wages – despite the provisions of the Plantation Labor Act, 1951 most workers and their families live in unsanitary conditions and receive low wages – this issue needs to be addressed given the fact that “starvation deaths” in North Bengal caught the international media attention.
• Small Tea Growers – the challenges faced by the Small Tea Growers’ sector is as follows
  • Not getting the right green leaf price
  • Unlike large estates, STG’s are not able to capitalize on scale and marketing of product as a collective is difficult – since it is unorganized
  • Issue of workers’ rights – since STG’s are not governed by the PLA, 1951
• Most of them are not recognized by the Tea Board of India due to landownership regulations and related procedural problems – this means lesser data available on the state of the STG’s making it difficult for policy coordination
• Some global factors like the decline in demand from European markets in the wake of the Russia-Ukraine war have compounded the problem.

Suggestive measures:

• The One District and One Product (ODOP) program can aid in promoting Indian Tea’s fame.
• The “AROMA” of tea needs to be improved in order for the industry to become profitable, viable, and sustainable.
• Support small farmers to raise production to satisfy domestic and international demand while improving quality and sustainability.
• Create infrastructure to boost exports and concentrate on high value markets like the EU, Canada, South America, and the Middle East to re-energize.
• Promote GI tea and organic tea using brand marketing and promotion.
• Modernization: To help local supply networks be strengthened and tea producers to become self-sufficient
• Adaptability: Focus on the importance of a risk proof ecosystem, that is, the need for sustainable solutions to make tea plantations meet the challenges of climate change.

India being the second largest producer of Tea has numerous opportunities to develop the Tea Industry as it is providing employment to a huge number of people in the north eastern states. A win-win for all and therefore a truly sustainable and transparent model — is the key requirement for a highly labour-centric industry like tea plantations.