Shrinkflation
Rising input costs have made the fast-moving consumer goods (FMCG) segment to adopt shrinkflation.
- Shrinkflation – Practice of reducing the size of a product while maintaining its current retail price.
- It is a form of hidden inflation, which companies adopt to reduce fall in customers due to price rise.
- Causes – Higher production cost, intense market competition, etc.
Ashwagandha
Ashwagandha is growing in popularity, both in India and abroad.
- Ashwagandha – Evergreen shrub found in parts of India, Africa, and the Middle East.
- Significance –
- Used as a medicinal plant, especially in traditional Ayurvedic medicine.
- Contains several bioactive compounds which have anti-inflammatory and antioxidant effects.
- Its supplements are often promoted for stress and anxiety, sleep, male infertility, athletic performance, etc.
Special Rupee Vostro Account (SRVA)
The government simplified the payment mechanism for pulses import from Myanmar through the utilization of Vostro Accounts.
- A Vostro account is a bank account that other foreign banks hold with “our” bank in the domestic currency i.e rupees.
- SRVA is an additional arrangement to the existing system that uses freely convertible currencies and works as a complimentary system.
- Significance – These accounts reduce the need for holding foreign exchange reserves and dependence on foreign currencies for bilateral transactions
Ringwoodite
Researchers have uncovered “Ringwoodite Ocean,” concealed within the Earth’s mantle, over 700 kms beneath the surface.
- Ringwoodite Ocean – Vast reservoir of water trapped within the mineral ringwoodite in the Earth’s mantle.
- Ringwoodite – Blue mineral formed under high temperatures and pressures in Earth’s mantle.
- It is one of the most typical high-pressure mineral in meteorites.
India Post
India Post opened a post office at its Bharati station in Antarctica.
- Other 2 post offices set by India Post in Antarctica – One at Dakshin Gangotri Station in 1984 and another at Maitri Station in 1990.
- India Post / Department of post – Comes under the Ministry of Communications.
- Significance – It has the most widely distributed postal network in the world (with more than 1,55,000 post offices.)