About World Intellectual Property Day

• It is celebrated every year on April 26.
• The day aims to raise awareness about intellectual property (IP) rights and its role in encouraging innovation and creativity to make the world a better place.
• This day is an opportunity to raise awareness about the need for a balanced approach to intellectual property protection that takes into account the rights of creators and copyright holders, as well as the public interest.
• The day was established in 2000 by the World Intellectual Property Organisation (WIPO).
• Official theme for World Intellectual Property Day 2024: ‘IP and the SDGs: Building Our Common Future with Innovation and Creativity’
• History:
  • In 1883, the Paris Convention for the Protection of Industrial Property was signed, which further established protection for intellectual properties.
  • This was aimed at protecting inventions, trademarks, and industrial designs.
  • In 1970, the Convention establishing the World Intellectual Property Organisation entered into force, creating WIPO.
  • In 1974, WIPO became a specialised agencyof the United Nations.
  • WIPO is a self-funding agency of the United Nations, with 193 member states that works to promote the protection and advancement of intellectual property worldwide.

Patenting Trends in India Report

• It was released by Nasscom on World Intellectual Property Day.
• Mirroring global trends, in FY2023, India witnessed 83,000 patents being filed, marking an annual growth rate of 24.6%, the highest in the last two decades.
• The number of patents granted also witnessed significant growth, rising over 2Xbetween FY2019 and FY2023.
• The share of patents filed by residents of India has doubled over the last decade, from 33.6 percent of the total filings in the fiscal year 2019 to over 50 percent by the fiscal year 2023.
• Maximum patent applications were in the field of healthcare, essentially around medical imaging, diagnosing, report generation, and testing.
• Other areas that are important for filing a patent are Automation/Software Development and Retail/e-commerce.

Artificial Intelligence saw the maximum patents filed in the areas of image processing, Natural Language Processing, and Predictive modelling, while Gen AI, Medical Data Processing, and Cognitive computing are the key emerging areas.

Q1: What is the National Association of Software and Service Companies (Nasscom)?

Nasscom, a not-for-profit industry association, is the apex body for the $245 billion technology industry in India. In India, this industry provides the highest employment in the private sector. Nasscom is focused on building the architecture integral to the development of the technology sector through policy advocacy, and help in setting up the strategic direction for the sector to unleash its potential and dominate newer frontiers.

Source: World Intellectual Property Day: Patent filings surge as Indian inventors prove mettle — top six patenting trends

About NOTA (None of the Above)

• It is a ballot option that a voter can choose to apply for instead of giving their vote to anyof the contesting candidates.
• NOTA empowers the electors to express their negative opinions and a lack of support for the contenders.
• It gives them the right to reject while maintaining the secrecy of their decision.
• When was it first used?
  • NOTA was used for the first time in the 2013 Assembly elections in five states-Chhattisgarh, Mizoram, Rajasthan, Delhi, and Madhya Pradesh-and later in the 2014 General Elections.
  • It was introduced into the electoral process following the 2013 Supreme Court directive in the PUCL versus Union of India case.
• How does a person cast a NOTA vote?
  • The NOTA option in the Electronic Voting Machines (EVMs) is given at the bottom of the candidates' list.
  • Earlier, in order to cast a negative ballot, a voter had to inform the presiding officer at the polling booth.
  • Now the voter has just to press the NOTA option on the EVM.
• Does NOTA Vote Count?
  • The Election Commission clarified that votes cast as NOTA are counted, but are considered ‘invalid votes’.
  • Even if NOTA votes get the most number of votes in a constituency, the next candidate with the second-most number of votes is declared the winner.
  • Therefore, votes made to NOTA will not change the outcome of the election.

Q1: What is Voter Verifiable Paper Audit Trail (VVPAT)?

It is an independent system that consists of two parts, namely, a VVPAT Printer and VVPAT Status Display Unit (VSDU) attached to the Electronic Voting Machines (EVMs), that allow the voters to verify that their votes are cast as intended. When a vote is cast, a slip is printed containing the serial number, name, and symbol of the candidate and remains exposed through a transparent window for 7 seconds. Thereafter, this printed slip automatically gets cut and falls into the sealed drop box of the VVPAT. The results of EVMs can be verified using the slipskept in the drop boxes of VVPAT machines.

Source: Supreme Court’s notice to Election Commission on NOTA: Understanding voters’ right to reject

About Raman Spectroscopy

• It is an analytical technique where scattered light is used to measure the vibrational energy modes of a sample.
• It involves illuminating a substance with a laser and analyzing the light that is scattered off the surface of the substance.
• It is based on the interaction of light with the chemical bonds within a material.
• Raman spectroscopy can provide both chemical and structural information, as well as the identification of substances through their characteristic Raman ‘fingerprint’.
• Raman spectroscopy extracts this information through the detection of Raman scattering from the sample.
• On February 28, 1928, Sir C.V. Raman introduced the "Raman effect," for which he was given the Nobel Prize in Physics in 1930.
• What is the Raman Effect?
  • The Raman effect is a change in the wavelength of light that occurs when a light beam is deflected by molecules.
  • When a beam of light traverses a dust-free, transparent sample of a chemical compound, most of the scattered light is at the same wavelength (or color) as the laser source and does not provide useful information; this is called Rayleigh Scatter.
  • However, a small amount of light (typically 0.0000001%) is scattered at different wavelengths (or colors), which depend on the chemical structure of the analyte; this is called Raman Scatter.

Q1: What are chemical bonds?

A chemical bond involves atoms combining to form chemical compounds and bring stability to the resulting product. In this process, atoms can share or give up electrons from their outermost shell to bond and create a new homogeneous substance.

Source: Our laser technique can tell apart elephant and mammoth ivory – here’s how it may disrupt the ivory trade

About Authorised Economic Operator (AEO) Programme

• An AEO is a business entity involved in the international movement of goods requiring compliance with provisions of the national customs law.
• It is approved by or on behalf of the national administration in compliance with the World Customs Organization (WCO).
• The WCO in June, 2005, with a view to secure the international supply chain, adopted the SAFE Framework of Standards (WCO SAFE FoS).
• AEO is one of the three pillars on which the SAFE FoS is formed.
• AEO helps to build a closer partnership between the customs department and the trade industry.
• WCO SAFE FoS is the basis of the Indian AEO programme.
• What is the AEO programme?
  • It was introduced in India by the Central Board of Indirect Taxes and Customs (CBIC)in 2011.
  • It is a voluntary programme administered by the CBIC.
  • It seeks to provide benefits in the form of simplified customs procedures and faster customs clearances to those business entities that offer a high degree of security guarantees regarding their role in the supply chain. 
  • Thus, an entity with an AEO status can be considered a reliable trading partner and a secure trader. 
  • This segmentation approach enables customs resources to focus on less-non-compliant or risky businesses for control.
• Benefits:
  • Direct port delivery in the case of import and direct port entry in case of export;
  • Small and medium scaleentities would be given special focus. It must be noted that any entity handling up to 25 import and export documents annually can become part of the AEO programme;
  • Easy and fast disbursal of the drawback amount;
  • Easy and fast disbursal of refunds and adjudications;
  • Paperless declaration with no supporting documents;
  • Site inspection or examination possible on request;
  • Recognition by partner Government agencies and other stake holders.
• Who can apply for AEO Status?
  • Business entities who are involved in the international supply chain that undertakes customs-related activity in India can apply for AEO status.
  • The business entity can apply for AEO status irrespective of its size.
  • Some of the examples of business entities that can apply for AEO status are importers, exporters, Custom House Agent (CHA), Custodiansor Terminal Operators, etc.

Key Facts about World Customs Organization (WCO)

• WCO, established in 1952, is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of customs administrations.
• It is the only intergovernmental organization exclusively focused on customs matters.
• Today, the WCO represents 186 customs administrations across the globe that collectively process approximately 98% of world trade.
• Its work includes the development of global standards, the simplification and harmonization of customs procedures, trade supply chain security, the facilitation of international trade, the enhancement of customs enforcement and compliance activities, anti-counterfeiting and piracy initiatives, public-private partnerships, integrity promotion, and sustainable global customs capacity building programmes.
• It also maintains the international Harmonized System goods nomenclature, and administers the technical aspects of the WTO Agreements on Customs Valuation and Rules of Origin.

Q1: What is the World Trade Organization (WTO)?

WTO is an international organization that promotes and regulates global trade among nations. The WTO was established on January 1, 1995 by replacing the General Agreement on Tariffs and Trade (GATT). It has 164 member countries, representing over 98% of global trade. It is headquartered in Geneva, Switzerland, and operates on a consensus-based decision-making process.

Source: Centre accords AEO status to gem and jewellery sector

About Lending Service Providers (LSPs)

• LSPs are engaged by the Regulated Entities (REs) (banks or NBFCs) to carry out some functions of RE in connection with lenders’ functions on digital platforms.
• The LSPs generally, under an outsourcing arrangement, offer their services to REs for a fee or commission.
• RBI defines an LSP as an agent of an RE that carries out one or more functions of the lender, including customer acquisition, underwriting support, pricing support, disbursement, servicing, monitoring, collection, and loan recovery on behalf of the RE.
• In simple terms, LSPs are loan aggregators which provide loans from their partner REs.
• In some cases, a RE can also act as an LSP.
• They are technology-centric entities which have the client reach and are thus capable of offering a marketplace for both lenders and borrowers.

LSPs entail aggregation of loan offers from multiple lenders on an electronic platform, which enables the borrowers to compare and choose the best available option to avail a loan from one of the available lenders.

Q1: What is a Non-Banking Financial Company (NBFC)?

An NBFC is a company registered under the Companies Act 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by the Government or local authority or other marketable securities of a like nature. They offer various banking services but do not have a banking license. They provide banking services like loans, credit facilities, TFCs, retirement planning, investing and stocking in the money market. Generally, these institutions are not allowed to take traditional demand deposits—readily available funds, such as those in checking or savings accounts—from the public. NBFCs are regulated by the Reserve Bank of India (RBI), the central bank of India.

Source: RBI releases draft regulation for web aggregation of loan products in digital lending

About Liquid Nitrogen

• It is an inert, colorless, odorless, noncorrosive, nonflammable, and extremely cold element.
• It is a cryogenic liquid (Cryogenic liquids are liquefied gases that have a normal boiling point below –130°F (–90°C).
• Liquid nitrogen has a boiling point of –320°F (–196°C).
• Health impacts:
  • Liquid nitrogen can scorch the organ or part of the body it contacts, making it appear like frost bites.
  • It can damage the lips, tongue, throat, lungs, and stomach. It may cause lesions or burn tissues.
  • If it reaches the stomach, the organ could get perforated. In the lungs, it could produce CO2 and the person could become unconscious.
• Applications
  • It is used to cool and freeze food rapidly.
  • In food production and industrial processes, a cooling tray filled with liquid nitrogen is used to rapidly cool materials or equipment by immersing the product in nitrogen.
  • In the wellness and sports industry, cryosaunas with liquid nitrogen vapor are used for cryotherapy.
  • Liquid nitrogen test chambers are used in technology and material sciences to test the performance and durability of materials and devices at extremely low temperatures.

Q1: What is Cryosurgery?

Cryosurgery is a minimally invasive surgical technique that involves the use of extreme cold to destroy or remove abnormal tissues, such as tumors or warts. The procedure involves applying a freezing agent, such as liquid nitrogen or argon gas, directly onto the targeted area.

Source: Liquid nitrogen can be used only to preserve food, stress food safety officials

About Central Pay Commission

• Pay commission is a body set up by the Central government that reviews and recommends changes to the salary structure of the employees. This panel also reviews the bonuses, allowances and other benefits of the employees.
• It recommends changes for central government employees and pensioners as well as the defence forces.
• History: Pay commissions are usually constituted every 10 years and the first pay commission was set up in 1946. Since Independence, a total of seven pay commissions have been formed.
• The latest pay commission was set up in 2014 and its recommendations came into effect in 2016.
• It is not mandatory for the government to accept the recommendations of the pay commission. The government may choose to accept or reject the recommendations.

The Department of Expenditure under the Ministry of Finance is responsible for the implementation of the recommendations of the Central Pay Commission.

Q1: What is Dearness Allowance?

It is a cost of living adjustment that the Government pays to public sector employees and pensioners.

Source: 8th Pay Commission latest update: Govt gets a proposal on formation of next CPC; what central govt employees must know

About Dooars

• These are the alluvial floodplains in northeastern India that lie south of the outer foothills of the Himalayas and Brahmaputra plain.
• This region is about 30 km wide and stretches over about 350 km from the Teesta River in West Bengal to the Dhansiri River in Assam.
• The region forms the gateway to Bhutan, Sikkim and Eastern Nepal. There are 18 passages or gateways between the hills in Bhutan and the plains in India.
• This region is divided by the Sankosh River into Eastern and Western Dooars, consisting of an area of 880 km2 . The Western Dooars are also known as the Bengal Dooars, and the Eastern Dooars also as the Assam Dooars.
• Significance of Dooars:
  • The deep, well drained and fertile soil rich in the humus of the Dooars has been used for the developed for the tea plantations.
  • The main industry of the Dooars region is the tea industry. Thousands of people are engaged in the tea estates and factories.

Q1: What is Alluvial soil?

Alluvial soils are widespread in the northern plains and the river valleys. The alluvial soils vary in nature from sandy loam to clay. They are generally rich in potash but poor in phosphorous.

Source: Death and distress in Bengal’s Dooars tea gardens

About Small Finance Bank

• SFBs are specialized banks that are licensed by RBI to provide financial services and products to low-income individuals and underserved communities, including microfinance and micro-enterprise services, as well as other basic banking services. 
• SFBs are granted the scheduled bank status after being operational and are deemed suitable under section 42 of the RBI Act, 1934.
• Objectives
  • To provide financial inclusion to these segments of the population who are often excluded from the traditional banking system.
  • SFBs help them to have access to financial products such as small loans, savings, insurance, and other basic banking services.
• Eligibility
  • Resident individuals/professionals (Indian citizens), singly or jointly, each having at least 10 years of experience in banking and finance at a senior level are eligible for SFBs.
  • Companies and Societies in the private sector, that is owned and controlled by residents and having successful track record of running their businesses for at least a period of five years.
    • Existing Non-Banking Finance Companies (NBFCs), Micro Finance Institutions (MFIs), and Local Area Banks (LABs) in the private sector, that are controlled by residents and having successful track record of running their businesses for at least a period of five years, can also opt for conversion into small finance banks after complying with all legal and regulatory requirements of various authorities.
• Other norms to be followed by SFBs
  • Capital to Risk Weighted Assets Ratio: They are required to maintain a minimum CRAR of 15%.
  • Priority Sector Lending: They are required to extend 75% of their Adjusted Net Bank Credit to Priority Sector Lending.
  • SFBs are required to open at least 25% of their total branches in unbanked rural areas.
  • Required paid up capital: The minimum paid-up voting equity capital for small finance banks shall be Rs.200 crore.

Regulation: SFBs are registered as public limited companies under the Companies Act, 2013 and governed by Banking Regulations Act, 1949; RBI Act, 1934 and other relevant Statutes and Directives from time to time.

Q1: What is a Non-Banking Financial Company?

An NBFC is a company registered under the Companies Act 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by the Government or local authority or other marketable securities of a like nature.

Source: SFBs should be worth Rs 1,000 cr to become universal banks, says RBI