Debt Recovery Tribunals (DRTs) Latest News

The Department of Financial Services (DFS) under the Ministry of Finance organised a colloquium recently at New Delhi, bringing together Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs).

About Debt Recovery Tribunals (DRTs)

• Debt Recovery Tribunals (DRTs) are quasi-judicial bodies established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
• Their primary role is adjudicating debt recovery disputes related to banks and financial institutions.
• DRTs handle loan default cases above ₹20 lakh, focusing on secured debts.
• DRTs also hear Securitisation Applications (SAs) filed under the SARFAESI Act, 2002 by borrowers or aggrieved parties.
• There are currently 39 DRTs functioning across India, each headed by a Presiding Officer.

Structure and Powers of DRTs

• A DRT is presided over by a judicial officer qualified to be a District Judge.
• It can also have administrative and technical members appointed by the Central Government.
• Under Section 22(2) of the Recovery of Debts Act, DRTs have powers to:
  • Summon and examine witnesses,
  • Compel the production of documents,
  • Receive evidence on affidavits,
  • Review or dismiss applications,
  • Conduct ex parte proceedings,
  • Issue commissions for document and witness examination.
• Jurisdiction of DRTs: Each DRT has a territorial jurisdiction defined by the Central Government.
  • Jurisdiction is limited to cases involving debt recovery by banks and financial institutions.

About Debt Recovery Appellate Tribunals (DRATs)

• DRATs are the appellate authorities for decisions made by DRTs.
• Appeals can be filed by aggrieved parties seeking review of DRT rulings.
• Currently, 5 DRATs are functioning in India, each headed by a Chairperson.
• DRATs ensure judicial oversight and uniformity in debt recovery matters and promote legal clarity on complex recovery disputes.

Debt Recovery Tribunals (DRTs) FAQs

Q1. What are Debt Recovery Tribunals (DRTs)?
Ans: DRTs are quasi-judicial bodies established under the Recovery of Debts and Bankruptcy Act, 1993 to facilitate the expeditious recovery of debts due to banks and financial institutions.

Q2. How many DRTs and DRATs are there in India?
Ans: As of now, there are 39 DRTs and 5 Debt Recovery Appellate Tribunals (DRATs) functioning across India.

Q3. What is the monetary limit for cases to be filed in DRT?
Ans: A bank or financial institution can approach a DRT if the debt amount is ₹20 lakh or more.

Source: PIB

Indian SARS-CoV-2 Genomics Consortium Latest News

One case of the newly emerging COVID-19 variant NB.1.8.1 and four instances of the LF.7 type have been detected in India, according to Indian SARS-CoV-2 Genomics Consortium (INSACOG) data.

About Indian SARS-CoV-2 Genomics Consortium

• INSACOG was established by the Government of India in December 2020.
• It was jointly initiated by the Union Ministry of Health, and the Department of Biotechnology (DBT) with the Council for Scientific & Industrial Research (CSIR) and the Indian Council of Medical Research (ICMR).
• It is a consortium of 54 laboratories to monitor the genomic variations in the SARS-CoV-2 by a sentinel sequencing effort which is facilitated by the National Centre for Disease Control (NCDC), Delhi, involving the Central Surveillance Unit (CSU) under the Integrated Disease Surveillance Programme (IDSP). 
• The mandate of INSACOG has evolved with time, and the focus has shifted from primarily tracking variants among international passengers to early detection of variants that may emerge within the country. 
• It has the following objectives:
  • Early detection of genomic variants of public health implication through sentinel surveillance.
  • To determine the genomic variants in unusual events/trends (vaccine breakthroughs, super spreader events, high mortality/morbidity trend areas, etc.)
  • To correlate the genome surveillance data with epidemiological data.
  • To suggest public health actions based on the analysis of genomic and epidemiological surveillance data.
• The data from the genome sequencing laboratories is being analysed as per the field data trends to study the linkages, if any, between the genomic variants and epidemiological trends. 
• This helps to understand superspreader events and outbreaks and strengthen public health interventions across the country to help in breaking the chains of transmission.

Indian SARS-CoV-2 Genomics Consortium FAQs

Q1. What is the primary function of INSACOG?

Ans. Monitoring SARS-CoV-2 genomic variations

Q2. Which organizations, apart from the Ministry of Health and DBT, are involved in INSACOG?

Ans. ICMR and CSIR

Q3. How many laboratories are part of the INSACOG consortium?

Ans. 54

Source: TH

South Korea Latest News

South Korea has officially expressed concern to China regarding a recently declared “No-Sail Zone” in the Yellow Sea, a sensitive maritime area where Exclusive Economic Zones (EEZs) of both countries overlap.

Key Facts about South Korea

• Location: South Korea is situated in East Asia, bordered to the north by the Democratic People’s Republic of Korea (North Korea), to the east by the East Sea (Sea of Japan), to the south by the East China Sea, and to the west by the Yellow Sea.
• Political Division: The Korean Peninsula is divided along the 38th Parallel, also known as the Demilitarised Zone (DMZ).
• Capital: Seoul.
• Major Rivers: Han River, Nakdong River.
• Major Islands: Jeju Island in the Korea Strait is the largest island.
• Mountains: The country is dominated by the Taebaek Mountain range along the eastern coast.
• Highest Peak: Mount Halla on Jeju Island (1,950 meters), an extinct volcano.

Geopolitical and Legal Significance

• South Korea's Foreign Ministry is currently assessing the legality of this declaration under international maritime law, specifically under the United Nations Convention on the Law of the Sea (UNCLOS).
• The Yellow Sea is a strategic body of water in East Asia, bordered by China and the Korean Peninsula, and is vital for regional security, fisheries, and commercial shipping routes.
• South Korea is invoking international maritime law, especially UNCLOS Articles 58, 74, and 87, which govern freedom of navigation, EEZ rights, and military activities in international waters.

South Korea FAQs

Q1. What is the capital of South Korea?
Ans: The capital of South Korea is Seoul.

Q2. Does India have a trade agreement with South Korea?
Ans: Yes, India and South Korea signed a Comprehensive Economic Partnership Agreement (CEPA) in 2010.

Source: TH

Orans Latest News

Rajasthan has initiated the process for classifying the community-protected ‘Oran’ lands as forests in compliance with the Supreme Court’s direction.

About Orans

• Orans are traditional sacred groves found in Rajasthan.
• They are patches of forests dedicated by villagers to different deities as a socio-religious tradition and managed by the rural communities. 
• Orans serve as centers of socio-religious activity for local communities. Festivals and fairs are held annually, often on specific dates, to honor these sacred places. 
• Rajasthan is home to about 25,000 ‘Oran’ lands covering an area of 6 lakh hectares.
• ‘Oran’ land is used by local communities for grazing, forest products, natural water filtration, and for livelihood opportunities to promote the livestock economy. 
• Water bodies within the orans, such as Talab (pond), Nadi (small pond), open wells, and streams, are crucial water resources for livestock and wildlife. 
• In the Thar Desert, some orans have ancient goverdhan/shilalekh (petrograph) near water bodies.
• The area covered by an oran can range from a few hectares to several hundred hectares. For example, the Bhadariya Mata Oran in Jaisalmer district spans 17,821 hectares.
• Orans also form the natural habitat for India’s most critically endangered bird, the Great Indian Bustard (GIB), a protected species under the Wildlife Protection Act, which is also the State bird of Rajasthan. 
• The State’s forest policy of 2023 gave the status of general community land to ‘Orans’, which was considered insufficient for their conservation as well as protection against encroachment and degradation.
• The Supreme Court recognised ‘Oran’ lands as forests under the Forest Conservation Act, 1980, in a landmark judgment delivered on December 18, 2024. 

Orans FAQs

Q1. What are Orans?

Ans. Orans are traditional sacred groves found in Rajasthan.

Q2. Which critically endangered bird species is naturally protected in the Orans?

Ans. Great Indian Bustard

Q3. Approximately how many Oran lands exist in Rajasthan?

Ans. 25,000

Source: TH

New Development Bank Latest News

Algeria has officially joined the BRICS-backed New Development Bank (NDB), marking a major expansion of the bank’s influence into North Africa.

About New Development Bank

• The New Development Bank (NDB), formerly known as the BRICS Development Bank, is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China, and South Africa). 
• Objective: NDB aims to mobilize resources for infrastructure and sustainable development projects in BRICS countries and other emerging economies and developing countries.
• The idea of setting up NDB was first conceived in 2012 during the BRICS Summit in New Delhi, India.
• The agreement for establishing the NDB was signed during the BRICS Summit held in Fortaleza on July 15, 2014, and the Bank started operations on July 21, 2015.
• The bank is headquartered in Shanghai, China, with regional offices in South Africa and Brazil.
• Membership in NDB is open to any member of the United Nations. 
• Capital: The NDB has an initial authorized capital of USD 100 billion and an initial subscribed capital of USD 50 billion, which was equally distributed among the five founding members. 
• Unlike in the case of the World Bank or ADB, each member in the NDB has an equal voting power.
• Governance Structure:
  • The Bank is governed by a Board of Governors made up of the finance ministers of the five BRICS countries, and a Board of Directors.
  • Both the presidency and vice-presidency of the NDB are rotated among BRICS founding members: Brazil, Russia, India, China, and South Africa.

New Development Bank FAQs

Q1. When did the New Development Bank officially start its operations?

Ans. July 21, 2015

Q2. Where is the headquarters of the New Development Bank located?

Ans. Shanghai, China

Q3. How is voting power distributed among the founding members of the NDB?

Ans. Equally among all members.

Source: HT

Tianwen-2 Mission Latest News

China is set to launch its Tianwen-2 mission, which aims to survey and sample the near-Earth asteroid 469219 Kamo‘oalewa.

About Tianwen-2 Mission

• Launch Vehicle: Long March 3B rocket.
• Launch Site: Xichang Satellite Launch Centre, Sichuan Province, China.
• Agency: China National Space Administration (CNSA).
• Objective: Survey and sample asteroid Kamo’oalewa, then travel to the asteroid belt to study comet 311P/PANSTARRS.

What is Asteroid Kamo‘oalewa?

• Kamo‘oalewa is a near-Earth asteroid discovered in 2016 by the Pan-STARRS 1 telescope on Haleakalā, Hawaii.
• It belongs to a rare class called quasi-satellites of Earth, which orbit the Sun, but remain gravitationally influenced by Earth due to their close proximity.
• It follows a highly elliptical solar orbit and appears to alternate between leading and trailing Earth, giving the illusion of orbiting Earth.
• Kamo‘oalewa has been in its current orbit for ~100 years, and is expected to stay for another 300 years, though quasi-satellite orbits are inherently unstable over long timescales.

Tianwen-2’s Sampling Strategy

• Tianwen-2 will use the “touch-and-go” technique to collect samples — a method also used by NASA’s OSIRIS-Rex and Japan’s Hayabusa2 missions.
• In this method, the spacecraft briefly hovers over the asteroid’s surface, where a robotic arm releases a projectile or gas burst to dislodge particles, which are captured in a chamber.
• A backup “anchor-and-attach” method may be used, where four robotic arms drill into the surface to retrieve subsurface material.

About Tianwen Series

• The Tianwen series (meaning “Heavenly Questions”, inspired by the classical Chinese poem by Qu Yuan) represents China's growing ambitions in deep space exploration.
• Tianwen-1, launched in 2020, became China’s first successful Mars mission, delivering an orbiter, lander, and rover to the Martian surface. The rover ceased operation in 2022.
• Tianwen-3, expected by 2028, aims to retrieve samples from Mars, placing China among the few nations planning interplanetary sample return missions.

Tianwen-2 Mission FAQs

Q1. What is the Tianwen-2 Mission?
Ans: Tianwen-2 is China’s planned asteroid sample-return mission, aimed at collecting samples from a near-Earth asteroid and studying it.

Q2. Who is conducting the Tianwen-2 Mission?
Ans: The mission is being led by the China National Space Administration (CNSA).

Q3. What is the target asteroid for Tianwen-2?
Ans: Tianwen-2 is expected to target the asteroid 2016 HO3, a quasi-satellite of Earth.

Source: IE

NITI Aayog Latest News

The 10th Governing Council Meeting of NITI Aayog was recently held in New Delhi, chaired by the Prime Minister, under the theme “Viksit Rajya for Viksit Bharat@2047”.

About NITI Aayog

• NITI Aayog is the premier policy think-tank of the Government of India, established through a Union Cabinet resolution in January 2015, replacing the erstwhile Planning Commission.
• It is neither a Constitutional body nor a statutory body, as it has been created by an executive decision, not through legislation or constitutional amendment.
• NITI Aayog has a twin mandate:
  • To oversee the adoption, implementation, and monitoring of the Sustainable Development Goals (SDGs) across the country.
  • To promote both competitive and cooperative federalism by enhancing the involvement of States and Union Territories in the development process.

Composition and Organisational Structure

• The Chairperson of NITI Aayog is the Prime Minister of India.
• The Governing Council of NITI Aayog includes:
  • The Prime Minister as its head,
  • The Chief Ministers of all States and UTs with legislatures,
  • Lieutenant Governors of other UTs,
  • A maximum of four Union Ministers as ex-officio members, nominated by the Prime Minister,
  • The Vice-Chairperson, appointed by the Prime Minister,
  • Full-time Members of NITI Aayog,
  • Special Invitees (domain experts and specialists) nominated by the Prime Minister.
• Regional Councils are constituted for specific durations to address particular regional issues affecting more than one state. These councils are:
  • Convened by the Prime Minister, and
  • Comprised of the Chief Ministers and Lt. Governors of the concerned region.
• The Chief Executive Officer (CEO) of NITI Aayog is:
  • Appointed by the Prime Minister for a fixed tenure,
  • Holds the rank of Secretary to the Government of India.

Key Objectives of NITI Aayog

• To formulate credible and inclusive development plans at the village level, with a focus on the marginalized and vulnerable sections of society who risk being left out of economic growth.
• To ensure that national security considerations are integrated into the formulation of economic policies and strategies.
• To establish a knowledge-driven, innovation-friendly, and entrepreneurial ecosystem that supports long-term sustainable development.
• To act as a platform for the resolution of inter-sectoral and inter-departmental coordination issues, enabling smoother policy implementation.

NITI Aayog FAQs

Q1. When was NITI Aayog established and what did it replace?
Ans: NITI Aayog was established on 1st January 2015, replacing the Planning Commission of India.

Q2. What is the full form of NITI Aayog?
Ans: National Institution for Transforming India Aayog.

Q3. Who is the Chairperson of NITI Aayog?
Ans: The Prime Minister of India is the ex-officio Chairperson of NITI Aayog.

Source: IE

Great Indian Bustard (GIB) Latest News

Radheshyam Pemani Bishnoi, a 28-year-old wildlife conservationist from Jaisalmer, Rajasthan, died in a road accident while on an anti-poaching patrol. He was a flag bearer in the GIB Community Conservation Programme.

About the Great Indian Bustard (GIB)

• The Great Indian Bustard(Ardeotis nigriceps) is a large terrestrial bird endemic to the Indian subcontinent.
• The bird is primarily found in dry grasslands and scrublands, which are rapidly declining due to agricultural expansion and development.
• Its core population (~100 individuals) survives in the Thar Desert, mainly in Jaisalmer and Barmer districts of Rajasthan.
• The total population is critically low, estimated to be around 100–150 individuals across India.

Physical Characteristics

• The Great Indian Bustard is one of the heaviest flying birds in the world.
• It has a horizontal body posture, long bare legs, and resembles an ostrich in appearance.
• Distinctive features include:
  • A black crown on the forehead,
  • A pale head and neck,
  • A brownish body with grey, black, and brown patterns on the wings.
• Both sexes are similar in size, with the heaviest individuals reaching up to 15 kg (33 pounds).
• The bird has a lifespan of 12–15 years.

Reproductive and Feeding Behaviour

• GIBs breed during the monsoon, laying a single egg directly on open ground, making the nest highly vulnerable to predation and trampling.
• They are opportunistic feeders, consuming a varied diet depending on seasonal availability:
  • Grass seeds,
  • Insects such as grasshoppers and beetles,
  • Occasionally small rodents and reptiles.

Conservation Status

• IUCN Red List: Critically Endangered
• Wildlife (Protection) Act, 1972: Schedule I species (highest level of protection under Indian law)
• CITES: Appendix I, indicating it is threatened with extinction and international trade is strictly regulated.

Great Indian Bustard FAQs

Q1. What is the conservation status of the Great Indian Bustard?
Ans: It is listed as Critically Endangered on the IUCN Red List.

Q2. In which states is the Great Indian Bustard mainly found?
Ans: Mainly found in Rajasthan, and also in parts of Gujarat, Maharashtra, Karnataka, and Andhra Pradesh.

Q3. What is the main threat to the Great Indian Bustard?
Ans: The major threats include habitat loss, collisions with power transmission lines, and predation of eggs and chicks.

Source: IE

Nagshankar Temple Latest News

Nagshankar, in northeastern Assam’s Biswanath district, has been designated a model temple for turtle conservation.

About Nagshankar Temple

• It is an ancient Hindu shrine dedicated to Lord Shiva.
• It is situated on the north bank of the river Brahmaputra within the administrative district of Biswanath in Assam.
• It is said to have been built by King Narasankar of Nagakha in the 4th century AD. 
• Later on it was repaired by Ahom king Su-sen-pha in 1480. 
• The temple premises feature a large pond, whichhouses 250-300 of the world's rarest species of turtles. 
  • Among the species, black softshell, Indian softshell, and Malayan softshell are found.
  • Some of these turtles are even believed to be hundreds of years old. 
• Its campus also has animals like peacocks, deer, and pythons.

Nagshankar Temple FAQs

Q1. In which Indian state is the Nagshankar Temple located?

Ans. Assam

Q2. Who is said to have originally built the Nagshankar Temple?

Ans. It is said to have been built by King Narasankar of Nagakha in the 4th century AD. 

Q3. What unique feature does the temple pond contain?

Ans. Rare species of turtles

Source: TH