SEBI has relaxed a few compliance burdens in the stock market to encourage ‘Reverse Flipping’ to boost startup IPOs in the country.
About Reverse Flipping
- It describes the practice where startups that had earlier established organizational structure in offshore jurisdictions shift their domicile back to their home country.
- Reverse flipping is gaining traction in India for potential listing in Indian stock exchanges, robust economic policies, expanding local market, favorable tax regime, growing investor landscape etc.
Recently, SEBI has banned the Director of IIFL Securities among others for front running.
About Front Running
- It is an illegal practice of purchasing a security based on advanced non-public information regarding an expected large transaction that will affect the price of a security.
- It is considered a form of market manipulation as it leads to security price movements being manipulated based on non-public information.
- E.g., Broker executes own order based on the client's large stock order.
- It can undermine market integrity and erode investor confidence.
Recently, Indonesia’s Mount Lewotobi Lakilaki volcano erupted.
About Mount Lewotobi Lakilaki
- Type: Mount Lewotobi is made up of two closely situated stratovolcanoes—Lewotobi Lakilaki (man) and Lewotobi Perempuan (woman).
Location: It is located on Flores Island in Indonesia. - Geological Setting: The volcano is part of the Pacific Ring of Fire, a zone known for intense volcanic and earthquake activity.
Recently, INS Arnala was commissioned into the Indian Navy.
About INS Arnala
- Named after the historic coastal fort off Maharashtra, it is India’s first Anti-Submarine Warfare Shallow Water Craft (ASW-SWC).
- It showcases indigenous design, engineering, and manufacturing (signifying transition from a "Buyer's Navy" to a "Builder's Navy").
- It has also become the largest Indian Naval warship (77 meters) to be propelled by a Diesel Engine-Waterjet combination.
- It is equipped to conduct Sub-Surface Surveillance and Interdiction, Search and Rescue Missions and Low-Intensity Maritime Operations (LIMO).
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1 sourceIndia launched Operation Sindhu to evacuate Indian nationals from Iran in the backdrop of rising tensions between Iran and Israel.
About Operation Sindhu
- 110 Indian Nationals evacuated with the assistance of Iran and Armenia.
- With Iranian airspace shut down, a land route from northern Iran to Yerevan, Armenia through the Nurduz-Agarak border crossing was used.
- India has amicable ties with two other neighbouring countries of Iran – Turkmenistan and Iraq while ties with other neighbouring countries of Iran – Turkey, Azerbaijan and Pakistan – deteriorated during Operation Sindoor.
- India has no diplomatic ties with Taliban regime in Afghanistan, another neighbour of Iran.
Recently, FASTag annual pass was launched by the Union Ministry of Road and Transport to enable seamless highway travel.
About FASTag Technology
- It is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly while the vehicle is in motion.
- It is affixed on the windscreen of the vehicle and enables a customer to make the toll payments directly from the account which is linked to FASTag.
- Developed by: NPCI under National Electronic Toll Collection (NETC) program.
- NETC Program has been launched by NPCI, NHAI, & IHMCL.
Sahitya Akademi has recently named 23 winners for Yuva Puraskar and 24 for Bal Puraskar.
About Sahitya Akademi
- Overview: It is India’s National Academy of Letters and the only institution that promotes literary activities across 24 Indian languages (22 Scheduled Languages and English and Rajasthani).
- Established: It was formally established in 1954 and registered under the Societies Registration Act, 1860.
- Ministry: Functions as an autonomous body under the Ministry of Culture.
A recent study finds global agarwood trade dependent on wild endangered trees threatens their conservation.
About Agarwood (Audh or Gaharu)
- It is a fragrant resinous wood derived from trees of Aquilaria and Gyrinops genuses from Thymelaeaceae family.
- It is created when trees are wounded and infected by fungi, producing resin as a defense mechanism.
- Found in: India’s Northeast (Tripura’s capital Agartala derives its name from Agarwood).
- India is home to Aquilaria khasiana and Aquilaria malaccensis species of Agarwood.
- Conservation: Appendix II of the CITES, Schedule IV of Wildlife (Protection) Act, 1972.
- Aquilaria malaccensis is listed as Critically Endangered in the IUCN Red List.
- India has successfully prevented inclusion of Aquilaria malaccensis in the Review of Significant Trade (RST) of the CITES, easing trade restrictions.
- Uses: Perfume-making, traditional medicine, etc. (References in ancient Ayurvedic texts like Charaka Samhita; Chinese Medicine and Unani.)
