Recently, Unity Small Finance Bank and BharatPe launched India's first EMI-driven credit card on the RuPay network. This innovative product allows users to pay for their purchases in full or convert them into Equated Monthly Instalments (EMIs), making it an attractive option for those looking to manage their spending.

Key Features of the Unity Bank BharatPe EMI Credit Card

1. EMI Conversion:

   • Instant EMI Option: Purchases made using the card can be split into EMIs of up to 12 months with flexible repayment options, giving consumers the flexibility to manage their expenses better.

2. Zero Fees:

   • The card is lifetime free, with no joining fee, annual fee, or foreclosure charges, making it more accessible to a wider range of customers.

3. UPI Integration:

   • The credit card can be linked to Unified Payments Interface (UPI), enabling users to make instant payments at numerous merchants across India, thus offering broader merchant acceptance.

4. Reward Program:

   • Users will earn 2% flat rewards on EMI transactions, which can be redeemed via the BharatPe app, encouraging continuous usage of the card.

5. Premium Benefits:

   • The card also offers complimentary access to domestic and international airport lounges and provides preventive health checkups, enhancing the card's appeal to frequent travelers and health-conscious users.

6. Digital Onboarding:

   • The card's application process is entirely digital via the BharatPe app, allowing users to complete KYC (Know Your Customer) and credit eligibility checks seamlessly before the card is activated.

Partnership Details

• The Unity Bank BharatPe Credit Card is a result of a collaboration between Unity Small Finance Bank, BharatPe, and the National Payments Corporation of India (NPCI). This partnership leverages the strengths of the RuPay network, which aims to foster financial inclusion and promote the use of digital payment methods across India.

Target Audience and Eligibility

• The card is available to both salaried and self-employed individuals. The eligibility and application process can be completed digitally through the BharatPe app, ensuring that the process is user-friendly and accessible.

Conclusion

This EMI-based credit card is a significant development in India’s financial sector, offering an innovative solution for consumers who wish to manage their expenses with flexibility. The Unity Bank BharatPe Credit Card combines the convenience of EMI payments, zero fees, and UPI integration, making it a competitive offering in India’s growing digital payments ecosystem. It also represents a move towards financial inclusivity by catering to both salaried and self-employed individuals and allowing easy access through the BharatPe app.

The LUPEX Mission (Lunar Polar Exploration) is a collaborative space mission between the Indian Space Research Organisation (ISRO) and the Japan Aerospace Exploration Agency (JAXA). This mission aims to explore the lunar south pole, focusing on understanding the presence of water and other valuable elements on the Moon's surface, particularly in the form of surface ice.

Key Objectives of the LUPEX Mission

1. Exploration of Lunar South Pole:

   • The primary goal is to explore the Moon’s southern polar region, which is believed to have areas where water may be present in the form of ice beneath the surface.

2. Technological Innovations in Surface Exploration:

   • LUPEX is designed to demonstrate advanced technologies for surface exploration, with a special emphasis on vehicular transport on the lunar surface and the survival of lunar night, which presents extreme cold temperatures.

3. Water and Element Search:

   • The mission will focus on the search for water ice, which could have major implications for future lunar exploration, potentially providing resources for astronauts on the Moon.

Mission Components

• The LUPEX mission will include a lander and a rover:

  • ISRO will develop and operate the lander that will carry the rover to the lunar surface.

  • JAXA will develop and operate the rover, which will carry out surface exploration.

Rover’s Role in the Mission

• Self-Driving Rover: The rover will be capable of driving on its own across the lunar surface to identify areas where water ice might be present.

• Soil Sampling: The rover will drill into the Moon’s surface (lunar regolith) to collect soil samples for analysis. This will help scientists study the water content and other key elements of the lunar surface.

• Advanced Instruments: The rover will be equipped with state-of-the-art instruments, including:

  • Water content measurement: To detect the amount of water in the lunar soil.

  • Drilling and Sampling: To collect and analyze soil samples.

  • World-First Technologies: The rover will feature pioneering technologies, particularly in its driving system and batteries, crucial for operating in the harsh lunar environment.

International Collaboration

• The LUPEX mission will carry instruments not only from ISRO and JAXA, but also from other major space agencies:

  • NASA (United States)

  • ESA (European Space Agency)

This collaboration enhances the mission's scientific scope and technological capabilities, making it a truly global endeavor.

Conclusion

The LUPEX mission is an important step in both India's and Japan's ambitions for lunar exploration. By jointly developing and operating the Chandrayaan-5 mission, ISRO and JAXA will significantly contribute to the scientific community's understanding of the Moon's resources, particularly water, and demonstrate new technologies for future lunar missions. This mission is expected to lay the groundwork for future sustainable exploration of the Moon, as well as broader international collaboration in space research

The Bureau of Energy Efficiency (BEE), in collaboration with the Alliance for an Energy Efficient Economy (AEEE), recently released the State Energy Efficiency Index (SEEI) 2024. This is the sixth edition of the index, and it assesses the energy efficiency performance of 36 States and Union Territories (UTs) for the financial year 2023-24.

Key Features of the SEEI 2024:

1. Implementation-Focused Framework:

   • The index now includes 66 indicators across various sectors such as Buildings, Industry, Municipal Services, Transport, Agriculture, Distribution Companies (DISCOMs), and Cross-Sector Initiatives.

   • This updated framework reflects the evolving priorities in energy efficiency, focusing on new areas like electric vehicle (EV) policies, star-rated buildings, and Demand-Side Management (DSM) strategies.

2. Performance Categories:

   • States are classified into four performance categories based on their energy efficiency scores:

     • Front Runners (>60% performance)

     • Achievers (50-60% performance)

     • Contenders (30-50% performance)

     • Aspirants (<30% performance)

3. Sectoral Progress:

   • The SEEI 2024 highlights significant progress in various sectors:

     • Buildings: 24 states have adopted the ECBC 2017 (Energy Conservation Building Code).

     • Industry: 10 states have developed energy efficiency policies for MSMEs (Micro, Small, and Medium Enterprises).

     • Electric Mobility: 31 states have implemented electric mobility policies.

     • Agriculture: 13 states are promoting solar-powered agricultural pumps, with Kerala achieving a 74% adoption rate.

4. Energy Efficiency Action Plans:

   • All 36 states/UTs have developed State Energy Efficiency Action Plans (SEEAPs).

   • 31 states have established State-Level Steering Committees on Energy Transition, reflecting their commitment to driving energy efficiency and climate action.

Top Performers in SEEI 2024:

• Maharashtra: Group 1 (Performance > 15 MToE - Million Tonnes of Oil Equivalent).

• Andhra Pradesh: Group 2 (Performance between 5–15 MToE).

• Assam: Group 3 (Performance between 1–5 MToE).

• Tripura: Group 4 (Performance < 1 MToE).

Importance of SEEI 2024:

• Policy Tool: The SEEI serves as a crucial policy tool for state governments, helping guide their actions to improve energy efficiency at the state level. It aligns with India’s broader energy and climate goals, contributing to a sustainable energy future.

• Data-Driven Approach: By using data-driven assessments, the SEEI fosters healthy competition among states and encourages the adoption of best practices for energy efficiency.

• Support for Climate Goals: SEEI 2024 is integral to India’s commitment to reducing energy consumption and carbon emissions, helping achieve both national energy efficiency and climate goals.

Conclusion:

The State Energy Efficiency Index (SEEI) 2024 represents a significant step forward in India’s energy transition, providing a comprehensive framework to assess, compare, and enhance energy efficiency at the state level. By focusing on diverse sectors such as electric mobility, solar-powered agriculture, and energy-efficient buildings, India is working toward a more sustainable, energy-efficient future

Recently, Urjit Patel, the former Reserve Bank of India (RBI) Governor, was appointed as the Executive Director at the International Monetary Fund (IMF). His tenure is for three years, and he will represent India, Bangladesh, Sri Lanka, and Bhutan at the IMF headquarters in Washington, D.C.

About the International Monetary Fund (IMF)

The IMF is a global financial institution that plays a key role in fostering international monetary cooperation and maintaining financial stability across the world.

Key Information:

1. Members:

   • The IMF currently has 191 member countries.

   • Liechtenstein is the newest member, joining on October 21, 2024.

2. Creation:

   • The IMF was created in 1944 at the Bretton Woods Conference as part of the post-World War II economic order. It operates on a quota system, where countries contribute funds, and their voting power is proportional to their financial contributions.

3. Mission:

   • The core mission of the IMF is to:

     • Foster global monetary cooperation.

     • Maintain financial stability.

     • Facilitate international trade.

     • Promote high employment and sustainable economic growth.

     • Reduce poverty worldwide.

4. Role:

   • The IMF is often referred to as a lender of last resort, providing financial support to countries facing economic crises.

   • When a country borrows from the IMF, it typically needs to implement policy reforms, known as structural adjustment programs, which include fiscal and monetary reforms aimed at restoring economic stability.

IMF Governance Structure

1. Board of Governors:

   • The Board of Governors is the highest decision-making body of the IMF, with one governor and one alternate governor from each member country.

   • It meets annually to discuss key matters, including:

     • Quota revisions.

     • Special Drawing Rights (SDR) allocations.

     • New memberships or the expulsion of members.

2. International Monetary and Financial Committee (IMFC):

   • The IMFC advises the Board of Governors on the management of the international monetary and financial system.

   • The IMFC is composed of 24 members drawn from the governors.

3. Executive Board:

   • The Executive Board is responsible for the day-to-day business of the IMF and works closely with the Managing Director.

Urjit Patel’s Role at the IMF

• Urjit Patel, appointed as the Executive Director representing India, Bangladesh, Sri Lanka, and Bhutan, brings his extensive experience in economic policy and banking to the IMF.

• His tenure is expected to influence the economic policies and priorities of these countries within the global economic framework, particularly focusing on global financial stability and monetary cooperation.

Conclusion

The IMF continues to play a pivotal role in global economic governance, and the appointment of Urjit Patel as Executive Director highlights India's ongoing influence in shaping international economic policies. The IMF's mission of promoting global financial stability, economic growth, and poverty reduction remains critical in addressing global challenges

Recently, the Union Minister for Agriculture and Farmers’ Welfare announced that the Indian Council for Agricultural Research (ICAR) will soon undertake a study to protect the Nanjangud Rasabale variety of banana from diseases.

About Nanjangud Rasabale Banana

The Nanjangud Rasabale banana is a unique variety of banana grown in the Mysore and Chamarajanagar districts of Karnataka. It has gained recognition for its exceptional taste, texture, and medicinal properties.

Key Features:

1. Geographical Indication (GI) Tag:

   • Awarded the GI tag in 2006, recognizing its unique characteristics and regional origin.

   • This GI tag ensures that only bananas grown in this region can be marketed as Nanjangud Rasabale.

2. Distinct Taste and Aroma:

   • Known for its thick pulp, the banana has a distinct taste and aroma, which sets it apart from other varieties.

   • The taste and texture are irreplaceable and cannot be replicated in any other variety or location.

3. Soil Requirement:

   • The black clay alluvial saline soil found in the region is a critical factor in giving the Nanjangud Rasabale its unique aroma and flavor profile.

4. Medicinal Properties:

   • The Nanjangud Rasabale banana is believed to have medicinal properties and is thought to help cure neurological ailments.

Threats to the Crop:

• The Panama Wilt disease, caused by the Fusarium Wilt pathogen, has been a major concern for farmers. This fungal infection severely affects banana plantations and poses a significant threat to the cultivation of Nanjangud Rasabale bananas.

Indian Council for Agricultural Research (ICAR)

The Indian Council for Agricultural Research (ICAR) is a premier organization in India focused on agricultural research and education.

Key Information:

1. Establishment:

   • ICAR was established on July 16, 1929, as a registered society under the Societies Registration Act of 1860.

   • It was initially known as the Imperial Council of Agricultural Research.

   • It was formed following the recommendations of the Royal Commission on Agriculture.

2. Functions:

   • ICAR is the apex body responsible for coordinating, guiding, and managing agricultural research and education in India.

   • The council's scope includes horticulture, fisheries, and animal sciences, in addition to traditional crop farming.

   • ICAR works with 113 institutes and 74 agricultural universities across India, making it one of the largest agricultural research systems in the world.

3. Headquarters:

   • The headquarters of ICAR is located in New Delhi.

Conclusion

The Nanjangud Rasabale banana, with its distinct flavor and medicinal properties, is a prized agricultural product of Karnataka. However, the growing threat from diseases like Panama Wilt has led to the ICAR's intervention to safeguard this unique crop. With its vast expertise in agricultural research, ICAR’s efforts will be crucial in protecting this variety for future generations