Bandicoot Mini
Bandicoot Mini has been launched by Start-up Genrobotic Innovations.
- A more compact and affordable version of the Bandicoot robot.
- Bandicoot Robot – A manhole-cleaning robot designed to perform tasks traditionally done manually inside manholes.
- Operated and monitored via a control panel placed outside the manhole.
- Equipped with a specially designed human-comparable robotic arm to unblock sewer line systems.
Rights Issue
SEBI releases consultation paper to seek suggestions for enabling faster Rights Issue. It aims to make
- A method of raising additional capital by issuing additional shares to existing shareholders of a company.
- Benefits –
- For the Company – Raise additional capital at a lower cost.
- For Shareholders – Purchase more shares at a discount and the tradability of rights entitlement.
Creative Economy
Indian Chamber of Commerce (ICC) launched the All India Initiative on Creative Economy (AIICE).
- Also referred to as – Orange Economy
- An evolving concept that builds on the interplay between human creativity, ideas, intellectual property, knowledge, and technology.
- Components – Includes sectors such as advertising, architecture, arts and crafts, design, fashion, performing arts, electronic publishing, etc.
- Status in India – Worth $30 billion and employs 8% of the working population
Surety Bonds
The Insurance Regulatory and Development Authority of India (IRDAI) has formed a task force to address challenges and drive the growth of surety bond insurance.
- A risk transfer mechanism where an insurer guarantees to a beneficiary (obligee) that the principal (contractor) will fulfill their contractual obligations.
- Parties Involved –
- Principal – The owner or contractor.
- Obligee – The government entity or person requiring the bond.
- Surety – The entity providing the financial guarantee to the obligee on behalf of the principal.
- Significance – Unlike traditional bank guarantees, surety bonds offer a more comprehensive and efficient solution for various sectors, especially in construction.
Tanager 1
Recently, Tanager-1 satellite has been launched.
- Developer – Planet Labs PBC, in collaboration with Carbon Mapper’s Coalition.
- Purpose – Detecting and mapping high-priority areas for methane and carbon dioxide emissions with high resolution.
- Organization – Carbon Mapper, a nonprofit focused on mitigating greenhouse gas emissions.
- Significance of Methane – Methane is over 80 times more effective at retaining heat in the atmosphere than CO2, contributing to about 30% of global temperature rise to date.
- Instruments – Utilizes imaging spectrometer technology developed at NASA’s Jet Propulsion Laboratory.