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1. Recently, the Clearing Corporation of India reported that commercial banks raised Rs 1.45 trillion through Certificates of Deposit (CDs) to bolster their balance sheets. CDs are negotiable money market instruments offering an interest rate premium in exchange for depositing a lump sum for a fixed period, typically ranging from 7 days to 1 year for banks and up to 3 years for financial institutions. Issuable by banks and All-India Financial Institutions to various entities, including individuals and corporations, CDs start from a minimum of Rs. 1 lakh with multiples thereof. Established in 2001, the Clearing Corporation of India facilitates reliable clearing and settlement services in Money and Government Securities markets.
2. The 1st International Conference on Steel Slag Road, organized by CSIR in New Delhi, highlighted the innovative use of steel slag in road construction. NITI Aayog subsequently released guidelines for its utilization, promoting eco-friendly and durable infrastructure solutions. Steel slag, a byproduct of steel production, undergoes a process to remove impurities and metals, transforming it into a high-strength aggregate suitable for road building. This material offers enhanced properties such as hardness, abrasion resistance, skid resistance, and improved drainage capacity. With India requiring approximately 1.8 billion tonnes of natural aggregates annually for construction, integrating processed steel slag aggregates helps meet demand sustainably. Surat saw the construction of India's first steel slag road, showcasing its potential in infrastructure development.
3. A UK-based teenager recently became the first person to receive a Deep Brain Stimulation (DBS) device to manage epileptic seizures, reducing daytime seizures by 80%. Epilepsy is a neurological disorder characterized by abnormal brain activity, causing seizures and altered behavior. Causes include genetic factors, head trauma, and infections. Treatment options include anti-seizure medications, ketogenic diets, epilepsy surgery, and corpus callosotomy. DBS involves implanting electrodes in specific brain regions to deliver controlled electrical impulses, disrupting seizure activity. It offers hope for patients resistant to conventional treatments, although it is not a guaranteed cure and can be costly. DBS's success in controlling seizures is lower compared to traditional brain surgery. Emerging technologies like Neuralink aim to enhance treatment options for neurological conditions beyond epilepsy.
4. Recently, the Rashtriya Swayamsevak Sangh (RSS) chief visited Dhamupur village in Ghazipur, Uttar Pradesh, the native village of 1965 war hero Abdul Hamid. Hamid, a soldier in the 4th Grenadiers of the Indian Army, earned renown during the Battle of Asal Uttar in the 1965 India-Pakistan war. This battle, near Punjab's India-Pakistan border, saw Hamid's valiant efforts against Pakistani forces, where he destroyed three tanks and disabled a fourth before sacrificing his life on September 10, 1965. His courageous actions led to the posthumous award of the Param Vir Chakra, India's highest gallantry award. Today, the site of his bravery is commemorated with a war memorial featuring a captured Pakistani Patton tank as a tribute to his sacrifice. During his visit, the RSS chief released two books: 'Mere Papa Paramvir' focusing on Hamid's life and 'Bharat ka Musalman'.
5. The Central Consumer Protection Authority (CCPA), established under Section 10 of the Consumer Protection Act (CPA), 2019, regulates consumer rights and addresses unfair trade practices. CCPA has the authority, under Section 21 of the CPA, to penalize false or misleading advertisements, ensuring consumer protection and promoting fair competition. Since its inception in July 2020, CCPA has significantly impacted consumer dispute resolution by addressing a substantial number of cases and promoting transparency in advertising practices. The National Consumer Disputes Redressal Commission (NCDRC) and state consumer commissions have also contributed to reducing case backlogs by suspending traditional vacation periods, improving overall efficiency in resolving consumer complaints.