The Prime Minister Internship Scheme (PMIS) is once again open for applications with the launch of Round 2 of the pilot phase.

About PMIS

• AIM: To harness the potential of India's youth population by providing them with 12 month paid internships in top companies of India.
• Ministry: Ministry of Corporate Affairs
• Beneficiaries: Individuals aged 21 to 24 who are currently not enrolled in any full-time academic program.
• Benefits
  • Financial assistance of ₹5,000, supplemented by one-time financial assistance of ₹6,000.
  • 12 months real-life experience in India's top companies
  • Insurance coverage for every intern under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana

World Bank’s private lending arm has withdrawn from funding for waste incineration projects in Gujarat.

About IFC 

• It is a member of the World Bank Group
• It has been established in 1956 and is Headquartered at  Washington
• India is a Member
• It is the largest global development institution focused on the private sector in emerging markets.
• Aim: Leverage the private sector to transform ideas into investments for green growth, inclusive jobs, and impactful projects.

A team of researchers in India have identified common metabolites across cancers, like pancreatic cancer and lung cancer that could serve as universal cancer biomarkers.

About Biomarker (Biological marker)

• Definition: A biomarker is an objective measure of biological processes in a cell or organism, detected through biological molecules in blood, fluids, or tissues.
• Key Applications:
  • Disease Diagnosis: E.g., Offers a non-invasive method for early cancer diagnosis 
  • Promotes Personalized treatment: By identifying individuals' unique genetic or molecular profiles.
    • Also tracks how well a patient responds to treatment.

Recently, a volcano erupted at Mount Dukono in Indonesia.

Mount Dukono

• About: With a height of 1,087 metres above sea level, it is one of Indonesia’s 127 active volcanoes.
• Location: on Halmahera Island

Other major volcanoes erupted recently in Indonesia

• Mount Merapi: Located near the city of Yogyakarta.
• Mount Ruang: It is a stratovolcano located in the Sulawesi Islands.
• Mount Lewotobi Laki-Laki: Located in Flores island 

Recent news reports indicate a return of stagflation in the US market.

About Stagflation

• Definition: Stagflation is an economic condition combining slow economic growth, high unemployment, and rising inflation.
  • Creates dilemma for policymakers, as addressing one issue (e.g., inflation) may worsen another (e.g., unemployment).
• Causes: Often triggered by supply-side shocks (e.g., sudden oil price increases) that raise production costs, leading to inflation and reduced economic activity.
• Effects: Declines in living standards and heightened economic uncertainty due to fast-rising prices and sluggish growth.

A jailed MP petitioned the Punjab and Haryana High Court for permission to attend Parliament to avoid disqualification under Article 101(4).

About Article 101(4)

• If for sixty days a member of either House of Parliament is without permission of the House absent from all meetings thereof, the House may declare his seat vacant.
  • The 60 days, however, do not account for “any period during which the House is prorogued or is adjourned for more than four consecutive days”.

Fort William in Kolkata, the headquarters of the Eastern Army Command, recently has been renamed Vijay Durg.

About Vijay Durg 

• It was named after King William III of England.
  • It’s now called Vijay Durg after the ancient Maharashtra fort that served as Chhatrapati Shivaji's naval base.
• It is located on the banks of the river Hoogly.
• Black Hole Tragedy took place on June 20, 1756 in Fort William.
  • Nawab Siraj-ud-Daula imprisoned British captives in a tiny cell overnight, causing many deaths from suffocation and extreme heat, it is known as Black Hole Tragedy.