Cheque Truncation System
RBI announced measures for the Continuous Clearing of cheques under CTS.
- An online image-based cheque clearing system that eliminates the physical cheque movement.
- Cheque images and MICR data are processed electronically.
- Magnetic ink character recognition line (MICR) involves the use of magnetic ink and special characters to process and verify the legitimacy of cheques.
- NPCI acts as a Cheque Processing Centre (CPC)
Disaster Risk Transfer Parametric Insurance Solution
Nagaland became the 1st State to adopt the DRTPS after signing a MoU with SBI General Insurance. About DRTPS
- Objective – To protect critical infrastructure resulting from extreme weather events.
- Tenure – Cover costs in case a disaster happens in 3 years (2024-27).
- Parametric Insurance – Type of insurance that covers probability of a loss-causing event
- It provides a predefined payout upon occurrence of a covered event
‘Parvat Prahaar’ exercise
Army is carrying out ‘Parvat Prahaar’ exercise in Ladakh
- Involves various military units and equipment to maintain readiness near the India-China border.
- Focusing on high-altitude warfare and operations.
Polar Coupled Analysis and Prediction for Services
World Meteorological Organization has launched the PCAPS project to improve weather forecasting in Arctic and Antarctic.
- Objective – To increase and improve weather, water, ice, and climate information about the Arctic and Antarctic.
- It will help develop observation systems and Earth system models and advocate for improved forecasting services.
- PCAPS – Part of WMO’s World Weather Research Programme (WWRP).
- Key Objective – Advance research of the earth system and improve the warning process to account for the evolving nature of extreme weather impacts
Ceropegia Shivrayiana
A new flowering plant from Ceropegia genus called Ceropegia Shivrayiana has been discovered in Vishalgad area of Kolhapur.
- Named after – Chhatrapati Shivaji Maharaj.
- Rare plant endemic to India
- Has unique, tubular flowers that attract moths.
- Habitat – Rocky places & can survive in soil with few nutrients.