CURRENT-AFFAIRS

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• To facilitate faster cheque clearance, the RBI has recently introduced new measures for Continuous Clearing of Cheques under the Cheque Truncation System (CTS).
• Understanding the Cheque Truncation System (CTS):
• What is Cheque Truncation?
  • Cheque truncation involves halting the physical movement of a cheque at a specific point by the presenting bank before it reaches the paying bank branch.
• What is CTS?
  • CTS is an electronic cheque clearing system that processes images of cheques along with Magnetic Ink Character Recognition (MICR) data. These images and data are captured at the collecting bank branch and sent electronically, removing the need for physical cheque transportation.
• Security Measures:
  • CTS employs a robust PKI-based security framework that includes dual access control, user ID, and password protections, along with cryptobox and smart card interfaces to ensure secure transactions.
• Standards Compliance:
  • Only cheques that comply with the CTS-2010 standards are eligible for clearing through the CTS system. These standards enforce a range of security features on cheques, such as specific paper quality, watermarks, invisible ink for the bank’s logo, and void pantographs, as well as standardizing cheque fields.
• Benefits:
  • Cheques can be processed and the proceeds realized within the same day.
  • Simplifies data storage and retrieval.
  • Reduces risks and provides a secure cheque clearing process.
  • Lowers costs by eliminating the need for physical cheque transportation.
  • Reduces delays and bottlenecks between cheque presentation and realization.
  • Shortens clearing cycles and supports centralized image archiving.
• Currently, CTS handles cheques with a clearing cycle of up to two working days. With the RBI's new Continuous Clearing measures, this process is expected to accelerate significantly, enabling cheque clearance within hours of submission.

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• The Ministry of Textiles has empowered cotton ginners nationwide to produce Kasturi Cotton Bharat, utilizing QR code certification technology in accordance with established protocols.
• About Kasturi Cotton Bharat:
  • Kasturi Cotton Bharat is an initiative by the Ministry of Textiles, along with textile trade bodies and industry stakeholders, aimed at enhancing the value of Indian-grown cotton according to set benchmarks. This initiative represents a groundbreaking approach to traceability, certification, and branding of Indian cotton.
  • The program was formalized with a memorandum of understanding (MoU) signed between the Cotton Corporation of India and the Cotton Textiles Export Promotion Council on December 15, 2022.
  • To ensure full traceability of Kasturi Cotton Bharat-tagged bales throughout the supply chain, QR code certification technology is employed at every stage of processing. A blockchain-based software platform will also provide comprehensive traceability and transaction certificates.
  • For this purpose, microsites featuring QR code verification and blockchain technology have been developed. The Kasturi Cotton Bharat program is active on a national scale, with its promotion taking place at both national and international levels. Funding for the program is managed at the national level rather than the state level.
  • Cotton ginners across the country are now equipped to produce Kasturi Cotton Bharat in compliance with the specified protocols.
• What is Ginning?
  • Ginning is a crucial stage in the cotton spinning process. After cotton is harvested from the fields, it is transported to gins where seeds, lint, and any foreign particles are separated. The ginning process cleans the cotton by removing seeds, dust, and other impurities, ensuring that high-quality cotton is available for spinning mills. Traditionally done by hand, ginning is now typically performed using machines.

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• The World Health Organisation (WHO) has convened an emergency meeting to address the recent spike in monkeypox (Mpox) cases emerging from Congo.
• About Monkeypox (Mpox):
  • Monkeypox is a viral zoonotic disease caused by the monkeypox virus, which belongs to the same family as the smallpox virus. The first documented case of monkeypox in humans occurred in 1970 in the Democratic Republic of the Congo (DRC). Despite its name, the exact source of the disease remains unidentified.
  • The monkeypox virus exists in two distinct types or clades: Clade I, which originated in Central Africa, and Clade II, which originated in West Africa. Although it is primarily found in Africa, cases have also been reported in other parts of the world.
• Symptoms:
  • Monkeypox is characterized by a skin rash or mucosal lesions that typically last 2–4 weeks. Other common symptoms include fever, headache, muscle aches, back pain, fatigue, and swollen lymph nodes. The mortality rate can vary between 0-11% during outbreaks, with young children being particularly vulnerable.
• Transmission:
  • Monkeypox spreads through contact with infected animals or humans. Human-to-human transmission occurs through direct contact with body fluids, lesions, or through prolonged face-to-face interactions, including sexual contact. It can also be transmitted indirectly via contaminated materials.
• Treatment:
  • There are no specific treatments available for monkeypox. Managing the disease primarily involves early and supportive care to alleviate symptoms and prevent complications.

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• A state of emergency has been declared in Kursk following a Ukrainian incursion into the Russian border region.
• About Kursk Region:
  • Kursk is both a city and the administrative center of Kursk Oblast, located in the southwestern part of Russia. Positioned in the heart of the European section of the country, it is situated along the upper Seym River, approximately 280 miles (450 km) south of Moscow. The region is part of the Black Earth Zone, known for its rich, fertile soil. Kursk experiences a moderately continental climate.
• History:
  • Kursk is among Russia’s oldest cities, with its first mention dating back to 1032. The city was completely destroyed by the Tatars in 1240 and remained in ruins until its reconstruction in 1586, when it was established as a military outpost to defend against Tatar incursions. Kursk lost much of its significance in the early 18th century when the Russian border was pushed further south. During World War II, Kursk was the site of intense combat; the Battle of Kursk, fought in July–August 1943, was the largest tank battle of the war and ended with a decisive defeat of the German forces.
• Industries:
  • The economy of Kursk includes diverse industries such as machine building, food processing, electronic equipment manufacturing, and synthetic fiber production. A major nuclear power plant was commissioned in the region in 1979.

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• A 45-year-old man who ventured into the Dudhwa Tiger Reserve (DTR) forest area to gather wild mushrooms was recently killed by a herd of elephants.
• About Dudhwa Tiger Reserve:
• Location:
  • Dudhwa Tiger Reserve is situated on the Indo-Nepal border in the Lakhimpur-Kheri district of Uttar Pradesh. It encompasses Dudhwa National Park, as well as two adjacent sanctuaries—Kishanpur and Katerniaghat—and includes forest areas from the North Kheri, South Kheri, and Shahjahanpur forest divisions within its buffer zone.
• Habitat:
  • The reserve is characterized by the Tarai-Bhabar habitat of the upper Gangetic plains Biogeographic province.
• Rivers:
  • The Kishanpur Wildlife Sanctuary is bordered by the Sharda River, the Geruwa River flows through the Katerniaghat Wildlife Sanctuary, and the Suheli and Mohana streams run through Dudhwa National Park. All these rivers are tributaries of the Ghagra River.
• Vegetation:
  • Dudhwa's vegetation consists of North Indian Moist Deciduous forests, showcasing some of the finest examples of Sal forests (Shorea robusta) in India.
• Flora:
  • The flora primarily includes Sal Forests, along with associated tree species such as Terminalia alata (Asna), Lagerstroemia parviflora (Asidha), Adina cordifolia (Haldu), Mitragyna parviflora (Faldu), Gmelina arborea (Gahmhar), and Holoptelea integrifolia (Kanju).
• Fauna:
  • Mammals: Major species include the Guldar (leopard), Tiger, Fishing Cat, various monkeys, Langurs, Mongoose, Small Indian Civet, and Jackals.
  • Birds: The reserve hosts a diverse bird population, including both migratory and resident species such as Dabchick, Spot-billed Pelican, Large Cormorant, Little Cormorant, Grey Heron, White Stork, Black Stork, and White Ibis.
  • Reptiles: Notable reptiles include the Mugger Crocodile, Gharial, Python, Sandboa, Banded Krait, Russell’s Viper, and Rat Snake.

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• Recently, the Minister of Cooperation updated the Rajya Sabha about the Nandini Sahakar Scheme.
• About the Nandini Sahakar Scheme:
  • The Nandini Sahakar Scheme is designed to support women cooperatives in engaging in business activities under the National Cooperative Development Corporation (NCDC). This initiative provides a comprehensive framework for financial support, project development, guidance, and capacity building specifically for women-focused cooperatives.
• Funding:
  • There is no specified minimum or maximum limit on the financial assistance provided to projects by women cooperatives. The NCDC offers a 2% interest subvention on its term loan rates for new and innovative projects. For other activities, there is a 1% interest subvention, which reduces the borrowing costs for women cooperatives.
• Eligibility:
  • Any cooperative society that has been operational for at least three months can apply for assistance, which will be in the form of credit linkage for infrastructure term loans. Women cooperatives are those registered under any State or Central Act with a minimum of 50% women as primary members.
• Significance:
  • The scheme aims to enhance the socio-economic status of women by supporting their entrepreneurial efforts through cooperatives. It integrates crucial elements such as enterprise support, business plan development, capacity building, and financial assistance, including credit, subsidies, and interest subvention.