About National Savings Certificate (NSC): 

• It is a fixed-income investment scheme launched by the government of India.
• It aims at encouraging users, who are primarily low- to mid-income investors, to invest as well as save taxes.
• You can invest in NSC from the nearest post office in your name, for a minor or with another adult as a joint account.
• Features:
  • Interest Rates: The certificates earn an annual fixed interest, which is revised every quarter by the government, thus guaranteeing a regular income for the investor.
  • Maturity Period: Five years.
  • The amount of NSCs that can be purchased has no upper limit.
  • Tax Saver: As a government-backed tax-saving scheme, the principal invested in NSC qualifies for tax savings under Section 80C of the Income Tax Act up to Rs. 1.5 lakhs annually.
  • Accessible: It can be easily bought from any post office on submission of the required KYC documents. Also, it is easy to transfer the certificate from one PO to another, as well as from one person to another, without impacting the interest accrual/maturity of the original certificate.
  • Loan Collaterals: NSC certificates are accepted as collateral or security for secured loans in Banks and NBFCs.
  • Nomination: The investor can nominate any family member (even a minor) so that they can inherit it in the unfortunate event of the investor’s demise.
  • Premature Withdrawal: Generally, one cannot exit the scheme early except on the death of an investor, on a court order, or on forfeiture by a pledgee who is a Gazetted Government Officer for it.
• Eligibility Criteria for NSC:
  • Hindu Undivided Families (HUFs), Trusts, and Private and public limited companies are not eligible to invest in NSC.
  • The individual must be a resident Indian citizen. Non-resident Indians (NRIs) are not eligible to invest in NSC.
  • There is no age limit for individuals to purchase an NSC.

Q1 What is Section 80C of the Income Tax?

Section 80C of the Income Tax Act allows for certain expenditures and investments to be exempt from income tax.

Source: PM Modi Invests In This Post Office Scheme: Check All Major Schemes At Post Offices

About Materiovigilance Programme of India: 

• It was launched on July 6, 2015 to monitor the safety of medical devices in the country.
• It aims to collect data on medical device related adverse events systematically and scientifically analyze them to aid in regulatory decisions and recommendations on safe use of medical devices.
• Objective: To improve Indian patient safety by monitoring, recording and analysing the root cause of adverse events or risks associated with the use of medical devices including in-vitro diagnostics by healthcare professionals or patients/users and suggesting regulatory bodies for appropriate action with the sole intention of improving patient safety.
• It is an important program for reporting of adverse events, coordinated analysis etc related to the medical devices including in-vitro diagnostic devices.
• The Indian Pharmacopoeia Commission (IPC) functions as National Coordination Centre (NCC) since 2018.
• It is regulated by the Central Drugs Standards Control Organization (CDSCO).
  • Medical devices consist of electronic equipment, implant, consumables and disposables, surgical instruments and in-vitro diagnostic reagents, among others.
  • Currently, all medical devices in India are regulated by the Drugs and Cosmetics Act, 1940 and Medical Device Rule, 2017.
  • At present, India is 80% dependent on imports for medical devices.
• Nodal Ministry: Ministry Of Health and Family Welfare

Key facts about Drugs Controller General of India

• Drugs Controller General of India is the head of the department of the CDSCO of the Government of India responsible for approval of licences of specified categories of drugs such as blood and blood products, IV fluids, vaccines and sera in India.
• DCGI also sets standards for the manufacturing, sales, import, and distribution of drugs in India.

Q1: What is the Central Drugs Standard Control Organization (CDSCO)?

CDSCO is the National Regulatory Authority (NRA) of India for the medical devices industry under the provisions of the Drugs & Cosmetics Rules.It works under the Ministry of Health & Family Welfare.

Source: DCGI calls for strict reporting of side-effects related to medical devices

About Registered Unrecognised Political Party:

• These are the parties which are either newly registered parties or those which have not secured enough percentage of votes in the assembly or general elections to become a state party, or those which have never contested elections since being registered.
• Allocation of symbols to RUPP: Common symbols are provided to RUPPs based upon an undertaking that they would put up “at least 5% of total candidates with regard to said Legislative Assembly election of a State”.
  • Election commission of India made it mandatory for RUPPs to furnish audited accounts of last three financial years, expenditure statements of last two elections.
  • The EC receives the applications from RUPPs in prescribed proforma for allotment of symbol under Provisions of Para 10B of the Election Symbols (Reservation & Allotment) Order, 1968.

What are registered parties?

• The Section 29A of the Representation of the People Act, 1951 (RP Act) lays down the requirements for registration of a political party with the ECI.
• Any political party that seeks registration should submit a copy of its memorandum/constitution.
  • Such document should declare that the party shall bear true faith and allegiance to the Constitution of India. It should also bear allegiance to the principles of socialism, secularism and democracy, and uphold the sovereignty, unity and integrity of India.
• Benefits
  • Tax exemption for donations received under Section 13A of the Income Tax Act, 1961.
  • Common symbol for contesting general elections to the Lok Sabha/State Assemblies, and
  • Twenty ‘star campaigners’ during the election campaign.

Q1: What is Delimitation?

Demlimitation means the act or process of fixing limits or boundaries of territorial constituencies in a country or a province having a legislative body. The Delimitation Commission is a high-power body that takes up the function of the delimitation of the territorial constituencies in India.

Source: Can parties be de-recognised or de-registered? | Explained

About Sea Otters:

• It is an aquatic member of the weasel family, found along the coasts of the Pacific Ocean in North America and Asia.
• Habitat: It spends most of its time in the water but, in some locations, comes ashore to sleep or rest.
• Appearance: Sea otters have webbed feet, water-repellent fur to keep them dry and warm, and nostrils and ears that close in the water.
• They generally eat food equal to about a quarter of their body weight daily as they prowl kelp forests and seagrass beds.
• Ecological significance
  • It’s a keystone species, which means that the health of sea otters is a good indication of the health of other species and ecosystems nearby.
  • It plays a crucial role in maintaining the balance of marine ecosystems. By preying on sea urchins, they help control the population of these spiny creatures.
  • Without otters, sea urchins can overpopulate and decimate kelp forests. These kelp forests are vital habitats for a myriad of marine life, offering shelter and food for numerous species.
  • The presence of sea otters helps sustain the biodiversity and health of these underwater forests.
• Conservation status

IUCN Red List: Endangered

Q1: What are keystone species?

It is an organism that helps define an entire ecosystem. Without its keystone species, the ecosystem would be dramatically different or cease to exist altogether. Keystone species have low functional redundancy.

Source: Sea otters get more prey and reduce tooth damage using tools

About Bond Buyback:

• It is a process whereby the central government and state governments buy back their existing securities, by redeeming them prematurely, from the holders.
• Bond buybacks are liability management tools widely used in government securities markets to manage refinancing and liquidity risks.
• It enables issuers to retire an outstanding debt before its maturity date against a cash payment.
• The objectives of buyback can be
  • Reduction of cost (by buying back high coupon securities),
  • Reduction in the number of outstanding securities and improving liquidity in the G-Secs market (by buying back illiquid securities) and
  • Infusion of liquidity in the system.

What is a Bond?

• It is a debt instrument in which an investor loans money to an entity (typically corporate or government) which borrows the funds for a defined period of time at a variable or fixed interest rate.
• Bonds are used by companies, municipalities, states and sovereign governments to raise money to finance a variety of projects and activities. Owners of bonds are debt holders, or creditors, of the issuer.

Q1: What is Securities and Exchange Board of India (SEBI)?

It is a statutory regulatory body that oversees the securities market in India. It operates under the SEBI Act of 1992. It is responsible for issuing regulations for various participants in the securities market, such as listed companies, brokers, mutual funds, and rating agencies.

Source: RBI announces reduction in the quantum of the government’s treasury bill sales

About RoseTTAFold:

• It is developed by researchers at the University Of Washington, U.S.
• It uses generative diffusion-based architectures (one kind of AI model) to predict structural complexes.
• The tools’ neural networks use massive amounts of input data to produce the desired output — the three-dimensional structures of proteins.
• It uses deep learning to quickly and accurately predict protein structures based on limited information. Without the aid of such software, it can take years of laboratory work to determine the structure of just one protein.
• It is a "three-track" neural network, meaning it simultaneously considers patterns in protein sequences, how a protein's amino acids interact with one another, and a protein's possible three-dimensional structure.

It has the capability to predict not just static structures of proteins and protein-protein interactions but also their ability to predict structures and interactions for any combination of protein, DNA, and RNA.

Q1: What are Peptides?

Peptides are chains of amino acids that are naturally found in the body. The amino acids in a peptide are connected to one another in a sequence by bonds called peptide bonds.

Source: The use of AI in drug development | Explained