The winter session, 2024 of Parliament (both Houses) was adjourned sine die recently.

About Adjournment sine die

• Adjournment sine die means terminating a sittingof Parliament for an indefinite period. 
  • Here, the House is adjourned without naming a day for reassembly. 
• The power of adjournment sine die lies with the Presiding Officer of the House.
• Presiding Officer can also call a sitting of the House any time after the House has been adjourned sine die.

Recently, RBI has conducted a Variable Rate Repo (VRR) auction.

About VRR Auction

• It is a monetary tool used by RBI for liquidity injection.
• Under this, RBI allows Banks to borrow at rate decided by market, generally lower than Repo Rate for duration more than one day.
  • Repo Rate (Repurchase rate) is the interest rate at which the central bank lends money to commercial banks when there is a shortage of funds.

Cabinet hikes Copra MSP by up to Rs 420 to Rs 12,100 per quintal for 2025. 

About MSP

• MSP is the minimum price at which the government buys crops from farmers to ensure fair income.
• Commission for Agricultural Costs and Prices makes recommendation while final decision is made by Cabinet Committee on Economic Affairs, chaired by Prime Minister. 
• Annually, Centere announces MSPs for 22 major agricultural commodities, including Kharif crops, Rabi crops, and commercial crops. 
  • In addition, MSP for Toria and de-husked coconut is also fixed based on MSPs of rapeseed & mustard, and copra, respectively.

Bills financed through TReDS (Trade Receivables Electronic Discounting System) has seen significant growth in 2024.

About TReDS

• It is an electronic platform for online discounting of bills of MSMEs for supplies to large Corporates.
  • It facilitates the discounting of both invoices as well as bills of exchange.
• It enables MSMEs secure financial assistance digitally at competitive terms and without any collateral security, based on the invoices/ bills for supplies to large corporates.
• 3 Operational TReDS platforms - Receivables Exchange of India Ltd (RXIL), M1xchange, and Invoicemart.

India and Asian Development Bank (ADB) recently signed a $350 million policy-based loan under the second subprogram of SMILE (Strengthening Multimodal and Integrated Logistics Ecosystem) program.

About SMILE Program

• It is a programmatic policy-based loan (PBL) by ADB to support the government of India to undertake wide ranging reforms in the logistics sector. 
• Objective
  • To strengthen the institutional and policy framework for inter-ministerial coordination and planning for incentivizing private sector participation in multimodal logistics projects (MMLPs).
  • To improve efficiencies in external trade logistics and encourage the use of smart and automated systems for improved service delivery.

A study in Springer Nature Journal reveals California ground squirrels as opportunistic omnivores, exhibiting hunting and stealth behavior.

• More than 200 squirrel species live all over the world, with the notable exception of Australia.

About Indian palm squirrel or three-striped palm squirrel

• Diet: Omnivore, mostly based on fruit and nuts, but it also consumes eggs, small birds, larvae, and insects.
• Habitat: Build nests in the treetops using the grass and branches.
• Aggressively protect their food stashes, which they store in treetops.

Researchers of IISER Pune created a new aerogel that can extract gold from e-waste. 

• This could help reduce both electronic waste and harmful mining practices.

About Aerogels 

• Genesis: Invented in the 1930s.
• Formation: Created by combining a polymer with a solvent to form a gel, and then removing the liquid from the gel and replacing it with air. 
• Features: They are the lightest solid materials,  translucent, extremely porous and very low in density. 
  • They are one of the finest insulation materials available.

Naga writer Easterine Kire’s “Spirit Nights” wins Sahitya Akademi Award 2024. 

About Sahitya Akademi

• Genesis: Formally inaugurated in 1954 and Registered under the Societies Registration Act, 1860.
• Ministry:  An autonomous body under Ministry of Culture.
• Role: Undertakes literary activities in 24 languages (22 scheduled languages and English and Rajasthani).
  • Honoured as ‘India’s National academy of letters’.
• Its major awards: Sahitya Akademi Award, Bhasha Samman

UN General Assembly has declared December 21 as World Meditation Day to raise awareness about meditation's benefits, emphasizing the right to physical and mental health.

About World Meditation Day

• Supported by countries like India, Liechtenstein, Sri Lanka, Nepal, Mexico, and Andorra, the resolution was adopted unanimously by the 193-member UN General Assembly on December 06, 2024.
• 2024 Theme: “Meditation for Global Peace and Harmony”
• Significance: Establishment of this day serves as a reminder of the importance of nurturing human consciousness and addressing global challenges such as conflicts, climate crises, and technological advancements through inner peace and compassion.