National Payments Corporation of India (NPCI)

• One97 Communications Ltd. (OCL) has been granted permission by the National Payments Corporation of India (NPCI) to participate in the Unified Payments Interface (UPI) as a Third-Party Application Provider (TPAP) under the multi-bank paradigm.According to the NPCI, OCL, the parent company of Paytm, would use four banks as PSPs (Payment System Providers): Axis Bank, HDFC Bank, State Bank of India, and YES Bank.

Context:

• The UPI platform’s owner and operator, NPCI, was instructed by the RBI last month to take OCL’s request to become a TPAP under consideration.
• An organization that offers end-user clients UPI-compliant app(s) to enable UPI-based payment transactions is known as a third-party application provider. These apps could be merchant apps, mobile wallets, or any other platform that accepts payments via UPI.

About National Payments Corporation of India (NPCI)

• The overarching organization in charge of running India’s retail payment and settlement systems is the National Payments Corporation of India (NPCI).
• Under the terms of the Payment and Settlement Systems Act of 2007, it was introduced in 2008 by the Indian Banks’ Association (IBA) and the Reserve Bank of India (RBI).
• Under the terms of Section 25 of the Companies Act 1956 (now Section 8 of the Companies Act 2013), it was incorporated as a “Not for Profit” company.
• The Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank Limited, HDFC Bank Limited, Citibank N. A., and HSBC are the ten primary promoter banks.
• In 2016, the 56 member banks’ shareholding was expanded to include more banks from all industry sectors. 2020 saw the introduction of new companies under RBI regulation, including payment banks, small finance banks, and payment service operators.
• The Unified Payments Interface (UPI), Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), Bharat Bill Payment System (BBPS), Aadhaar Enabled Payment System (AePS), National Automated Clearing House (NACH), and RuPay, India’s own card payment network, are just a few of the payment solutions and services that NPCI provides.
• One of NPCI’s most important projects is the Unified Payments Interface (UPI).

Anthropocene

• A proposal to designate a specific date as the start of the Anthropocene was rejected by an expert commission.

Context:

• The SQS-AWG is a commission tasked with identifying time intervals within the most recent geologic time span. Members of the group have been investigating the possibility of officially designating the Anthropocene as the newest epoch, succeeding the Holocene. The plan was rejected by the topical experts’ commission on March 4, 2024, with a majority vote against it.

About Anthropocene:

• The geologic time scale is a hierarchical sequence of shorter time intervals that make up Earth’s history. These divisions are referred to as eons, eras, periods, epochs, and ages, in decreasing order of duration of time.
• The strata, or layers of rock on Earth, and the fossils that can be found inside them are used to classify these units. Scientists have learned that particular creatures are typical of particular regions of the geologic record by studying these fossils. Stratigraphy is the study of this relationships.
• Referred to officially as the Holocene, the current period started 11,700 years ago following the conclusion of the last major ice age.
• The Anthropocene Epoch, on the other hand, is an unofficial measure of geologic time that denotes the most recent epoch in Earth’s history during which human activity began to significantly alter the planet’s climate and ecosystems.
• The Greek terms anthropo, which means “man,” and cene, which means “new,” are the source of the term Anthropocene. Biologist Eugene Stormer and chemist Paul Crutzen created and popularized the term.
• Though the name has not been officially accepted, scientists continue to disagree about whether the Anthropocene is distinct from the Holocene.
• If human activity has altered the Earth system to the extent that it is reflected in the rock layers, then this is the main question that scientists must resolve before classifying the Anthropocene as an epoch.

REUSABLE LAUNCH VEHICLE PUSHPAK

• Soon, ISRO intends to carry out the Reusable Launch Vehicle (RLV) Pushpak’s second landing test.

Context:

• The goal of this continuing research and development is to lower the cost of space launches while advancing India’s space exploration programs. The Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX), carried out by ISRO in 2023, was a success.

About REUSABLE LAUNCH VEHICLE PUSHPAK:

• The Indian Space Research Organization (ISRO) has created a winged technology demonstrator called the Reusable Launch Vehicle (RLV) Pushpak.
• Its goal is to investigate and validate technologies that are necessary to develop a launch vehicle that is totally reusable.

Background and Purpose:

• A component of ISRO’s endeavors to create a launch vehicle that is entirely reusable is the RLV Pushpak.
• Its main objective is to make space more affordable.
• By 2035, ISRO hopes to construct a space station, and RLV technology is essential to reaching this goal.

Technological Advancements:

• Pseudolite systems, local instrumentation, and sensor systems are used in accurate navigation.
• Accurate altitude data is provided via the Ka-band Radar Altimeter.
• Native Landing Gear: Engineered for rapid, autonomous, accurate landings.
• Controlled descent is ensured by the brake parachute system and aerofoil honeycomb fins.

GEO HERITAGE SITE PANDAVULLA GUTTA

• Telangana’s Pandavula Gutta has been classified as a unique Geo-heritage site.

Context:

• An area of notable geological significance that is recognized for its distinctive geological features, historical significance, or cultural significance is known as a geo-heritage site. These websites offer perceptions into the natural processes, evolution, and history of the Earth.

About GEO HERITAGE SITE PANDAVULLA GUTTA

• Pandavula Gutta, sometimes called Pandavula Guttalu, is a noteworthy hill in Telangana, India’s Warangal district.
• Because the Hindu epic tells the story of how the Pandavas sought refuge there during their exile, it has religious and historical significance.
• Recognized as Telangana’s only designated Geo-heritage site, this location is older than the Himalayan ranges.
• It was found in 1990 and has a long history that stretches back to the Mesolithic and Medieval periods. It predates the Himalayas.
• Paleolithic cave paintings cover Pandavula Gutta, offering a unique window into the creative abilities of past humans. These murals, which may be seen on solitary boulders, walls, and ceilings, include animals including bison, antelope, tigers, and leopards.

AGNIPATH SCHEME

• At INS Chilka in Odisha, the third batch of Agniveers’ Passing Out Parade (POP) took place.

Context:

• Within the Indian Armed Forces, Agniveers are a unique unit established through the Agnipath recruitment program.

About AGNIPATH SCHEME

• The Indian government launched the Agnipath Scheme, a short-service personnel model, to recruit soldiers for the Army, Navy, and Air Force.
• It is a Ministry of Defence transformative program.

Objective and Eligibility:

• The program seeks to give young people who are motivated and patriotic the chance to enlist in the military.
• With the exception of commissioned officers, it applies to employees below officer grades.

Recruitment and Duration:

• Under this program, between 45,000 and 50,000 soldiers—also known as “Agniveers”—are enlisted each year.
• These recruits are there for a four-year fixed-term contract.
• Only 25% of the batch will remain under perpetual commission for an extra 15 years after the first four years.

Benefits for Agniveers:

• Agniveers receive a one-time “Seva Nidhi” package worth Rs 11.71 lakhs, including accrued interest, upon fulfilling the four-year service requirement.
• Throughout their employment, they are additionally covered by a life insurance policy worth Rs. 48 lakhs.
• The reimbursement in the event of death surpasses one crore rupees and includes the amount for the unexpired term.
• The government offers bridging courses and skill certificates to help rehabilitate troops who leave the service after four years.

Challenges and Concerns:

• Employment Prospects: Following their four years of service, agnavers may encounter difficulties finding new positions.
• No Pension Benefit: Agniveers are not eligible for pension benefits, in contrast to regular servicemen.