Read Current Affairs
- Why in News?
- The Supreme Court has recently urged the Finance Ministry to amend the SARFAESI Act, 2002, highlighting inconsistencies that weaken its implementation. The Court clarified that once an auction notice is issued, a borrower’s right to redeem mortgaged property ceases, creating scope for disputes under the current provisions.
- About SARFAESI Act, 2002
- The Act empowers banks and financial institutions to recover non-performing assets (NPAs) without court involvement by seizing and auctioning pledged residential or commercial property, except agricultural land. It has contributed to faster recovery of liquidity and provided a structured framework to deal with stressed assets.
- Challenges
- Ambiguities in Section 13, delays in legal proceedings, and complexities in collateral liquidation have limited its effectiveness. Misuse of powers by lenders, weak performance of Debt Recovery Tribunals (DRTs), and exclusion of unsecured loans further dilute its impact.
- Way Forward
- Revising SARFAESI rules, ensuring fair practices, and strengthening DRTs for quicker resolution are crucial reforms.
- Why in News?
- The Tamil Nadu government has launched TN-SHORE, a ₹1,675-crore initiative approved in September 2025, with major funding support from the World Bank. The project aims to enhance the resilience of coastal communities while improving marine biodiversity and livelihoods.
- Key Provisions:-
- A central feature is the restoration and plantation of 1,000 hectares of mangroves, with funds routed directly to village-level mangrove councils composed of local residents. Alongside this, the programme envisions the revival of 30,000 hectares of seascapes and protection of vulnerable marine species such as dugongs and sea turtles.
- Why Mangroves Matter
- Mangroves, found in tropical intertidal regions, serve as natural barriers against coastal erosion, absorb excess carbon, and sustain fisheries. Their carbon storage capacity is 7–10 times higher than tropical forests, earning them the label “Nature’s Carbon Vault.” Past restoration projects, such as in Maharashtra’s Navghar, have even generated sustainable employment through mud crab farming.
- India currently has 4,991.68 sq. km of mangroves, with West Bengal and Gujarat accounting for the largest share.
- Why in News?
- In a significant milestone for India’s defence industry, the Defence Minister recently inaugurated the country’s first overseas defence manufacturing unit in Morocco. This step reflects India’s growing role as a global defence exporter and its commitment to strengthening bilateral ties with Africa.
- The facility will manufacture the Wheeled Armoured Platform (WhAP) 8x8, an indigenously developed infantry combat vehicle jointly designed by Tata Advanced Systems Limited (TASL) and the Defence Research and Development Organisation (DRDO).
- About WhAP
- WhAP is India’s first amphibious wheeled infantry combat vehicle, engineered to operate effectively across diverse terrains, including land and water. It features an integrated power pack with automatic transmission, advanced flotation systems, and water propulsion, making it highly versatile. Built for superior survivability and enhanced firepower, WhAP represents a leap in India’s indigenous defence technology.
- The plant in Morocco not only boosts defence cooperation but also marks India’s expanding industrial footprint overseas.
- Why in News?
- In a significant milestone for India’s defence industry, the Defence Minister recently inaugurated the country’s first overseas defence manufacturing unit in Morocco. This step reflects India’s growing role as a global defence exporter and its commitment to strengthening bilateral ties with Africa.
- The facility will manufacture the Wheeled Armoured Platform (WhAP) 8x8, an indigenously developed infantry combat vehicle jointly designed by Tata Advanced Systems Limited (TASL) and the Defence Research and Development Organisation (DRDO).
- About WhAP
- WhAP is India’s first amphibious wheeled infantry combat vehicle, engineered to operate effectively across diverse terrains, including land and water. It features an integrated power pack with automatic transmission, advanced flotation systems, and water propulsion, making it highly versatile. Built for superior survivability and enhanced firepower, WhAP represents a leap in India’s indigenous defence technology.
- The plant in Morocco not only boosts defence cooperation but also marks India’s expanding industrial footprint overseas.