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1. The Netherlands has emerged as India's third-largest export destination globally in the fiscal year 2023-24, following the US and UAE. With exports growing by approximately 3.5%, reaching USD 22.36 billion, the Netherlands accounted for 2.36% of India's total trade in 2022-23. It is among India's top trading partners in Europe, after Germany, Switzerland, the UK, and Belgium. Additionally, the Netherlands is a significant investor in India, with Foreign Direct Investment (FDI) totaling around USD 5 billion, notably higher than the previous fiscal year's USD 2.6 billion. Geographically, it shares borders with the North Sea to the north and west, Germany to the east, and Belgium to the south, with Amsterdam as the official capital and The Hague serving as the seat of government in its constitutional monarchy parliamentary system. Major rivers include the Rhine, Meuse, and Scheldt.
2. Ajrakh, a traditional block-printed textile art from Kutch, Gujarat, has been granted a Geographical Indication (GI) tag, offering legal protection to this centuries-old craft. This craft, using natural dyes and intricate designs on cotton fabric, narrates stories through its vibrant colors like indigo, red, and white. Traditionally worn by nomadic communities such as Rabaris, Maldharis, and Ahirs, Ajrakh holds cultural significance in Gujarat. Additionally, another lesser-known craft from Kutch, Bela Block Printing, practiced by the Khatri community, features bold designs and striking color combinations, often depicting motifs like elephants and horses on textured fabrics. Despite its cultural value, Bela Block Printing has been recognized as an endangered craft, highlighting the need for preservation efforts by authorities like the Office of the Development Commissioner for Handicrafts.
3. The Insolvency and Bankruptcy Board of India (IBBI) has introduced new guidelines governing the appointment of insolvency professionals (IPs) as interim resolution professionals, liquidators, and bankruptcy trustees. Key highlights include the establishment of a six-month validity panel of IPs, to be shared with the National Company Law Tribunal and the Debt Recovery Tribunal (DRT) to streamline processes. IPs seeking panel inclusion must have no ongoing disciplinary proceedings or convictions within the past three years and will receive an assignment authorization valid for the panel's duration. Panel selection prioritizes experience based on completed assignments and registration dates, aiming to ensure a proficient pool of professionals for swift appointment. The IBBI, operating under the Ministry of Corporate Affairs, aims to optimize the insolvency resolution process by facilitating the immediate availability of qualified professionals.
4. The Defence Accounts Department (DAD) of the Ministry of Defence has recently entered into Memorandums of Understanding (MoUs) with multiple banks to establish them as SPARSH Service Centres. These centres aim to offer last-mile connectivity to defence pensioners, particularly those residing in remote regions. Through these facilities, pensioners can perform various tasks such as profile updates, grievance registration, digital annual identification, data verification, and accessing detailed pension information. SPARSH, an integrated web-based system, facilitates the automation of sanctions and disbursement of defence pensions. This system ensures direct crediting of pensions into the bank accounts of pensioners without involving external intermediaries, emphasizing efficiency, responsiveness, and transparency in pension administration.