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Virupaksha Temple

- Deity: Lord Virupaksha, a form of Lord Shiva.

- Location: Hampi, Vijayanagara district, Karnataka.

● Situated on the southern bank of the Tungabhadra River.

- UNESCO Status: Part of the Group of Monuments at Hampi, a UNESCO World Heritage Site.

- Origin : Dates back to the 7th century AD.

- Expansion: During the Vijayanagara Empire; also saw contributions from the Chalukya and Hoysala periods.

- Features:

● Inverted Pinhole Image: The temple's tower creates an inverted image on an inner wall, showcasing advanced understanding of optics.

● Smaller Shrines: Numerous within the complex.

● Facilities: Temple kitchen and administrative offices.

● Decorations: Sculptures of various Hindu gods adorn the gopurams.

● Rectilinear Light Theory: Utilized in construction.

● Fibonacci Sequence: Used in architectural patterns.

Source : Indian Express

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Golden Rice

● A genetically engineered variety of rice that contains beta carotene, a precursor to vitamin A, which gives the rice its distinctive yellow-orange color.

- Genetic Engineering: Ordinary rice does not naturally contain beta carotene in its grain.

- Beta Carotene Source: Same as that found in green leafy vegetables, yellow-colored vegetables, orange-colored fruits, and many vitamin supplements.

- Cultivation:

● Can be cultivated using the same practices as ordinary rice.

● It generally has the same yield and agronomic performance as regular rice.

- Nutritional and Economic Impact:

● Cost and Taste: Expected to cost and taste the same as regular rice.

● Vitamin A Deficiency (VAD): Golden Rice's beta carotene content is valuable in combating VAD.

● Vitamin A Benefits: Essential for growth, development, and maintaining the visual and immune systems.

● VAD Consequences: Can lead to weakened immunity, blindness, and even death if untreated.

Source : Down to Earth

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Insurance Regulatory and Development Authority of India (IRDAI)

- Establishment : Under IRDAI Act 1999.

- Purpose: Overall supervision and development of the insurance sector in India.

- Objectives:

● Regulate the insurance industry to maintain fairness and financial soundness.

● Frame regulations to ensure clear and unambiguous operation of the industry.

- Head Office: Hyderabad.

- Responsibilities:

● Licensing and Registration: For insurance and reinsurance companies and intermediaries.

● Sets eligibility criteria, qualifications, and capital requirements for licenses in the insurance business.

- Entities Regulated by IRDAI:

● Life Insurance Companies: Both public and private sector.

● General Insurance Companies: Both public and private sector, including standalone health insurance companies.

● Re-Insurance Companies.

- Composition:10-member body: 1 Chairman,5 Full-time and 4 Part-time Members.

● All appointed by the Government of India.

Source : The Hindu

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Gradation of Coal

● Classification primarily determined by gross calorific value, reflecting the heat or energy produced upon burning.

- Coal Composition: Consists of carbon, ash, moisture, and various impurities.

- Authority: Classification established by the Coal Ministry.

- Types of Coal:

1. Anthracite:

● Rank: Highest rank, also known as hard coal.
● Characteristics: High percentage of fixed carbon and a low percentage of volatile matter.
● Uses: Predominantly used for heating and in industrial processes.

2. Bituminous:

● Rank: Middle rank coal.
● Characteristics: High heating value.
● Uses: Primarily used in electricity generation and steelmaking.

3. Subbituminous:

● Characteristics: Low-to-moderate heating values.
● Uses: Mainly utilized in electricity generation.

4. Lignite:

● Rank: Lowest grade coal.
● Characteristics: Least carbon concentration, low heating value, and high moisture content.
● Uses: Largely used in electricity generation.

Source : The Hindu

World Intellectual Property Organization (WIPO)

- Type: Specialized agency of the United Nations.

- Location: Geneva, Switzerland.

- Establishment: Created by the WIPO Convention in 1967.

-Mission: To lead the development of a balanced and effective international intellectual property (IP) system that promotes innovation and creativity for the benefit of all.

- Members: 193 member states.

- Functions:

● Global Policy Forum: Brings together governments, intergovernmental organizations, industry groups, and civil society to address evolving IP issues.

● Committees and Working Groups: Member states and observers meet regularly to negotiate changes and new rules for the international IP system to keep pace with global changes.

● Encouraging Innovation and Creativity: Ensuring that the international IP system serves its fundamental purpose by fostering an environment conducive to innovation and creativity.

Source : The Hindu

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Indo-Pacific Economic Framework for Prosperity (IPEF)

- Launch Date: May 23, 2022

- Initiator: United States President

- Members: 14 countries - Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam.

- Objective: Advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for member economies.

- Pillars of Cooperation: Trade, Supply Chain, Clean Economy and Fair Economy

● India's Participation: India is not part of the trade pillar.

Clean Economy Investor Forum:

- Purpose: Mobilize investments into sustainable infrastructure, climate technology, and renewable energy projects.

- Participants: Top investors, philanthropies, financial institutions, innovative companies, startups, and entrepreneurs from the region.

- Nodal Agency: Department of Commerce

Source : PIB

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Central Board of Indirect Taxes and Customs (CBIC)

- Department: Part of the Department of Revenue under the Ministry of Finance.

- Previous Name: Central Board of Excise and Customs.

- Functions:

● Policy Formulation: Levy and collection of Customs duties, Central Excise duties, Central Goods & Services Tax (CGST), and Integrated Goods & Services Tax (IGST).

● Prevention of smuggling.

● Tax Administration: Ensures proper collection and timely deposit of taxes on foreign and inland travel by collection agencies.

● Customs Duties Administration

- Leadership: Headed by a Chairman appointed by the Indian Government.

- Subordinate Organizations:
● Custom Houses
● Central Excise Commissionerates
● Central GST Commissionerates
● Central Revenues Control Laboratory

- GST Intelligence Wing: Responsible for detecting and preventing tax evasion.

Source : The Hindu

International Organization for Migration

● An intergovernmental organization that provides services and advice concerning migration to governments and migrants, including internally displaced persons, refugees, and migrant workers.

- Established: 1951

- Headquarters: Geneva, Switzerland

- Membership:

● Member States: 175

● Observer States: 8

- Mandate: To promote humane and orderly migration for the benefit of all, through providing services and advice to governments and migrants.

- Key Publications:

● World Migration Report
● Migration Health Annual Report

- Areas of Work:

● Migration and Development
● Migration Health
● Emergency Operations
● Counter-Trafficking

Source : The Hindu