USED COOKING OIL (UCO) BASED BIODIESEL Subject : Economy Context : Union Minister of Petroleum & Natural Gas flagged off the first supply of UCO (Used Cooking Oil) based Biodiesel blended Diesel under the EOI Scheme from Indian Oil’s Tikrikalan Terminal, Delhi. Concept : To create an eco-system for collection and conversion of […]
COMPULSORY LICENSING Subject : Economy / Governance Context :Govt should not hesitate to invoke compulsory licensing of drugs under Patent Act if necessary: Delhi High Court. Concept : The Patents Act, 1970 was amended three times in 1999, 2002, 2005 respectively to include the concept of ‘compulsory license’ and these are given in […]
VEHICLE SCRAPPAGE POLICY Subject : Economy Context : Limited incentives and poor cost economics for trucks in the Vehicle Scrappage Policy, coupled with lack of addressable volumes for other segments is unlikely to drive freight transporters to replace their old vehicles with new ones, a report said on Wednesday. Concept : It was […]
REFORM LINKED BORROWING Subject: Economy Context: States implementing key institutional reforms can borrow Rs 1.06 lakh crore more. Concept: The Finance Ministry has permitted additional borrowings of Rs 1.06 lakh crore as at March-end to those states which have carried out some key institutional reforms. Last October, the Central government had linked permission […]
RBI TO ISSUE CYBERSECURITY NORMS Subject: Economy Context : The Reserve Bank of India (RBI) will soon issue cybersecurity norms for payment service providers (PSPs), following a series of data breaches faced by operators including Mobikwik and payment aggregator JusPay. Concept: While the standards for fintech-driven payment services providers will be similar to […]
NATIONAL PENSION SYSTEM Subject: Economy Context: Concept: Started as the New Pension Scheme for government employees in 2004 under a new regulator called the Pension Fund Regulatory and Development Authority (PFRDA), the National Pension System (NPS) has been open for individuals from all walks of life to participate. The law regulating the NPS […]