Executive Chairman, NALSA highlighted that over 7 crore 70 lakh cases were resolved through 3 National Lok Adalats (NLA) organized by NALSA in 2024.

• NLA are Lok Adalats held on single day throughout country at regular intervals, in all courts from Supreme Court till Taluk Levels. 

About Lok Adalat

• An Alternative Dispute Redressal mechanism wherein civil or criminal pending cases or cases at pre-litigation level are settled/ compromised amicably. 
• Given statutory status under Legal Services Authorities Act, 1987.
• Decision is deemed final and binding with no appeal.
• It has same powers as a civil court under CPC, 1908.
• First Lok Adalat was held in 1982 at Junagarh, Gujarat.

Opposition has moved a motion of No-confidence against Rajya Sabha (RS) Chairperson.

• As per Article 64, Vice President (VP) shall be ex officio Chairperson of RS.

About Constitutional Removal Procedure

• Notice Period: 14-day notice is to be given prior to moving a Resolution, outlining clear intentions.
• Passing of a Resolution: As per Article 67(b), VP can be removed from office by a resolution passed by RS with a majority of all its members and agreed to by Lok Sabha with a simple majority.
• Unlike provisions for removal of President, the Constitution does not specify grounds for removal of VP.

INS Tushil (F 70), commissioned into the Indian Navy in Kaliningrad, Russia.

About INS Tushil:

• It is an upgraded Krivak III class frigate and 7th ship of the Project 1135.6.
  • Project 1135.6 includes 6 ships in service, three each of Talwar class and Teg class built in Russia.
• It is multi-role stealth-guided missile frigate armed with weaponry like Brahmos missiles etc., 
• It is powered by an advanced gas turbine propulsion plant & capable of achieving speeds in excess of 30 knots.

As per study, about 33% of the world’s sandy beaches have hardened.

• Bay of Bengal occupies first position with 84% coastal hardening.

About Coastal Hardening

• Refers to rigid, semi-impermeable structures created by humans that alter natural landscape, potentially obstructing shoreline retreat, and landward translation of sandy beaches.
  • These structures include impervious infrastructure like seawalls, harbors, roads, highways, railway revetments etc.
• Impacts of coastal hardening: Decrease in biodiversity; Reduced ecosystem functioning like fisheries production; Changes in ecological community that can favor invasive species; Loss of sandy coastline etc.

Securities and Exchange Board of India (SEBI) expands the scope of the optional T+0 rolling settlement cycle.

• Optional T+0 settlement cycle will be made available to top 500 stocks in terms of market cap as on December 31. 

About T+0 Settlement cycle

• It refers to a mechanism wherein Settlement of trades will be done on trade date only - 
  • The shares are credited in investor’s account on the day of trade itself. 
  • In a sell transaction, money would be credited in account on the same day. 
• All investors are eligible & currently it’s optional. 

Receivables securitization gaining popularity among MSMEs for accessing liquidity. 

About Receivables Securitization

• Receivables securitization is a financial process where companies convert their accounts receivable into cash by selling them as securities in the capital markets. 
  • Companies pool their receivables & transfer them to a third party which finances the purchase by issuing securities that are sold to investors in the financial markets.
• Significance: It allows MSMEs to unlock the value tied up in outstanding payments & gain access to funds quickly. 

UNEP has announced Champions of Earth Award, 2024.

• 2024 Lifetime Achievement category is awarded to Indian ecologist Madhav Gadgil for protecting people and planet through research and community engagement.
• He is renowned for his work in ecologically fragile Western Ghats region of India, a unique global biodiversity hotspot.

About Champions of Earth Award

• Awarded annually since its inception in 2005, it is UN’s highest environmental honour.
• In 2024, UNEP honours individuals and organizations working on innovative and sustainable solutions to restore land, enhance drought resilience, and combat desertification.
• Given in categories like Policy leadership; Inspiration and action; Entrepreneurial vision; Science and innovation.

ICRISAT has been granted its first industrial design patent in India for a solar-powered water hyacinth harvester.

• Harvester offers practical solution for rural farming communities grappling with water hyacinth infestations. 

• It is cost-effective, saves time, and labour while utilising clean energy. It can be operated by semi-skilled or unskilled workers.

• Water hyacinth is fast-growing aquatic weed, poses a major threat to rural ecosystems, fisheries, and waterways.

About ICRISAT (HQ: India)

• Established in 1972. 
• Internationally recognized Organization committed to improving dryland farming and agri-food systems to address hunger, malnutrition, and environmental degradation in drylands of Asia and beyond.