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- In November 2024, central banks worldwide collectively added 53 tonnes of gold to their reserves, with the Reserve Bank of India contributing 8 tonnes, according to a recent report by the World Gold Council (WGC).
- About the World Gold Council (WGC):
- The World Gold Council is a nonprofit organization representing the leading gold producers globally. It serves as a market development entity for the gold industry, with 33 members, including prominent gold mining companies. Founded in 1987 by visionary mining companies, the WGC’s mission is to promote the demand and use of gold through research, marketing, and advocacy.
- Headquartered in London, UK, its goal is to optimize the growth potential of the gold sector by monitoring and safeguarding existing consumption. The WGC achieves this by establishing industry standards, suggesting policies, promoting fairness and sustainability in gold mining, and encouraging the use of gold across various industries and for individual investors.
- The WGC is regarded as the global authority on gold, providing comprehensive industry analyses. Its most well-known publications include quarterly reports on the gold market and demand trends, segmented by sector and region. In addition, the WGC co-sponsors research into new uses for gold or the development of new gold-based products.
- The organization represents markets responsible for approximately three-quarters of the world’s annual gold consumption. It is also credited with creating the first gold exchange-traded fund (ETF).
- Astronomers have discovered a young ultra-diffuse galaxy forming at the tip of an enormous tidal tail extending from the galaxy NGC 3785, located approximately 430 million light-years away in the Leo constellation.
- About Tidal Tails:
- Tidal tails are elongated, narrow structures of stars and interstellar gas that extend into space. These formations are typically created when galaxies have close encounters or merge, causing their gravitational forces to distort and pull material from their outer regions. As a result, two tidal tails are often formed: one trailing and one preceding each galaxy involved in the interaction.
- Even after the galaxies merge, these tails can persist for a considerable period, serving as an indicator of recent galactic interactions. Well-known examples of galaxies with tidal tails include the Tadpole Galaxy and the Mice Galaxies.
- Tidal forces during these interactions can cause a considerable amount of gas to be ejected from a galaxy into the tail. In galaxies with tidal tails, around 10% of stellar formation occurs within the tail itself. On a broader scale, about 1% of all stellar formation in the universe takes place in tidal tails.
- By studying tidal tails, astronomers gain insights into the processes of galactic interactions, mergers, and the long-term evolution of galaxies over cosmic timescales.
- The Supreme Court has recently proposed the establishment of Benches of the Armed Forces Tribunal (AFT) in Jammu and Kashmir and Himachal Pradesh to address the increasing backlog of defense-related cases from these regions.
- About the Armed Forces Tribunal (AFT):
- The Armed Forces Tribunal (AFT) is a military tribunal in India, created under the Armed Forces Tribunal Act, 2007. It operates under the Ministry of Defence (MoD) and is tasked with resolving disputes related to the armed forces, including service-related issues and appeals from court-martial decisions.
- Functions:
- The AFT adjudicates disputes and complaints related to commission, appointments, enrolment, and service conditions of individuals subject to the Army Act, 1950; the Navy Act, 1957; and the Air Force Act, 1950.
- It hears appeals arising from orders, findings, or sentences of courts-martial conducted under these acts and addresses matters related to or incidental to these cases.
- The tribunal has the authority to uphold or dismiss appeals if the court-martial findings are deemed justified.
- Thus, the AFT has original jurisdiction in service-related matters and appellate jurisdiction in court-martial cases. Any appeal against a decision made by the tribunal can only be escalated to the Supreme Court.
- Benches: Apart from the principal bench in New Delhi, the AFT has regional benches in Chandigarh, Lucknow, Kolkata, Guwahati, Chennai, Kochi, Mumbai, Jabalpur, Srinagar, and Jaipur.
- Composition: Each bench consists of a Judicial Member and an Administrative Member. Judicial Members are retired High Court Judges, while Administrative Members are retired Armed Forces personnel who held the rank of Major General or equivalent for at least three years. Judge Advocate Generals (JAGs) who have served for at least one year are also eligible for the role of Administrative Member.
- Functioning: The Tribunal operates according to the Armed Forces Tribunal (Procedure) Rules, 2008. All proceedings are conducted in English, and the tribunal generally follows the procedures practiced in the High Courts of India.