Current Affair 1:

New catalytic process of producing hydrogen offers sustainable method of manufacturing the green fuel

 

News:

Hydrogen is considered one of the cleanest sources of energy that can be easily obtained from indigestible biomass or bio-derived alcohols. Various methods can generate hydrogen, but the cost of hydrogen depends on how environmentally friendly and energy efficient the production process is. Water and methane are the main sources of hydrogen on Earth, but extracting pure hydrogen from them consumes a lot of energy through techniques such as natural gas reforming electrolysis, and water-splitting reactions.

A new process of producing hydrogen from methanol through a catalytic reaction under ambient conditions offers a sustainable and green method of manufacturing the much-needed clean fuel.

Scientists from the Indian Institute of Science Education and Research (IISER), Tirupati, devised a feasible method to produce molecular hydrogen from dehydrogenating simple feedstock chemicals like methanol and effectively transferred hydrogen to produce highly value-added chemicals and pharmaceuticals.

No need to go in much detail.

Current Affair 2:

Pradhan Mantri MUDRA Yojana (PMMY)

 

News:

MUDRA, which stands for Micro Units Development & Refinance Agency Ltd., is a financial institution set up by Government of India for development and refinancing of micro units enterprises.

It was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like Banks, NBFCs and MFIs.

Why MUDRA was set up?

The biggest bottleneck to the growth of entrepreneurship in the Non–Corporate Small Business Sector (NCSBS) is lack of financial support to this sector. More than 90% of this sector does not have access to formal sources of finance. GoI is setting up MUDRA Bank through a statutory enactment for catering to the needs of the NCSBS segment or the informal sector for bringing them in the mainstream.

MUDRA would be responsible for refinancing all Last Mile Financiers such as Non-Banking Finance Companies, Micro Finance Institutions, Societies, Trusts, Small Finance Banks and Regional Rural Banks which are in the business of lending to micro/small business entities engaged in manufacturing, trading and services activities as well as Agri-allied activities.

Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has already created its initial products / schemes.

The interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also to provide a reference point for the next phase of graduation / growth to look forward to. The financial limit for these schemes is: -

Monitoring of PMMY progress at the State level will be done through SLBC forum and at National level by MUDRA/Department of Financial Services, Government of India. For this purpose, MUDRA has developed a portal, wherein the Banks and other lending institutions directly feed their achievement details which are consolidated by the system and reports are generated for review.

Any Indian Citizen who has a business plan for a non-farm income generating activity such as manufacturing, processing, trading or service sector whose credit need is up to 10 lakhs can approach either a Bank, MFI or NBFC for availing of MUDRA loans under PMMY.

The lending rates are as per the RBI guidelines issued in this regard from time to time.

There is no subsidy for the loan given under PMMY. However, if the loan proposal is linked to some Government scheme, wherein the Govt. if providing capital subsidy, it will be eligible under PMMY also.

Current Affair 3:

The Mines and Minerals (Development and Regulation) Amendment Bill, 2023

 

It was recently passed by Parliament.

The Bill amends the Mines and Minerals (Development and Regulation) Act, 1957.

Key features: Just read these three points.

1. Omission of 6 minerals from the list of 12 atomic minerals specified in Part-B of the First Schedule of the Act, namely, (i) beryl and beryllium, (ii) lithium, (iii) niobium, (iv) titanium, (v) tantallium, and (vi) zirconium.

Reason of omission:

Mining and exploration of atomic minerals specified in Part-B of the First Schedule of the Act is only being done through PSUs. Hence, exploration and mining of these minerals is very limited. Many of the minerals listed as atomic minerals have numerous non-atomic applications. In most cases, the non-atomic uses of these minerals far outweigh their atomic use. Many such minerals are not fissile or radioactive in nature. Some of these mineral commodities are also found associated with many other minerals. There is a need to vigorously increase exploration and production of the minerals proposed to be removed from the list of atomic minerals to meet the growing demands of the country wherein involvement of private sector can be a force multiplier.

 

1. Empower Central Government to exclusively auction mining lease and composite licence for certain critical minerals viz. molybdenum, rhenium, tungsten, cadmium, indium, gallium, graphite, vanadium, tellurium, selenium, nickel, cobalt, tin, platinum group of elements, minerals of “rare earth” group (not containing Uranium and Thorium); fertilizer minerals such as potash, glauconite and phosphate (without uranium) and minerals being removed from the list of atomic minerals. Revenue from these auctions will accrue to concerned State Government.
2. Introducing exploration licence for deep-seated and critical minerals.

Even though 100% foreign direct investment (FDI) is allowed in mining and exploration sector through automatic route, currently there is no significant FDI received in these sectors. Hence there is an urgent need to attract FDI in these sectors.

 

The Bill introduces provisions for grant of a new mineral concession, namely, Exploration Licence (EL), in the Act. The exploration licence granted through auction shall permit the licensee to undertake reconnaissance and prospecting operations for critical and deep-seated minerals mentioned in the newly proposed Seventh Schedule to the Act. These minerals are copper, gold, silver, diamond, lithium, cobalt, molybdenum, lead, zinc, cadmium, elements of the rare earth group, graphite, vanadium, nickel, tin, etc,

 

 

 

Current Affair 4:

Gender Inclusion Fund (GIF)

 

News:

 

 

 

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