About Capital Gains Account Scheme (CGAS), 1988:

• It was introduced by the Central Government in 1988 to help taxpayers claim exemptions on long-term capital gains.
• Under Section 54 of the Income Tax Act, income from capital gains must be reinvested within 3 years to avoid tax liability.
• However, there could be instances when the due date for filing income tax falls during this specified tenure.
• If a taxpayer is unable to invest in such a short period of time, they can deposit such underutilised capital gains under CGAS.
• However, taxpayers must deposit such funds before filing their Income Tax Returns.
• Investing the gains in this account is treated the same as direct reinvestment for exemption purposes.
• However, short-term capital gains are not eligible for the CGAS, as exemptions apply only to long-term capital gains.
• Who Can Deposit in CGAS?
  • Any taxpayer who earns long-term capital gains and wants to claim exemption can deposit in the CGAS.
  • This includes Individuals, Hindu Undivided Families (HUFs), Companies, Trusts, and any other person eligible for capital gains exemption.
• The scheme is mainly used when the taxpayer is unable to reinvest the capital gains before the due date of filing their income tax return but intends to invest within the specified period to claim exemption.
• The deposited amount must then be used within the stipulated period to invest in the eligible asset; otherwise, it will be treated as taxable capital gain in the year the deadline expires.

Capital Gains Accounts (Second Amendment) Scheme, 2025:

• Previously, CGAS deposits were largely limited to public sector banks and a few older institutions.
• Under the new notification, all non-rural branches of 19 major private banks are now authorised to receive deposits and maintain CGAS accounts.
• The “non-rural branch” condition means that only branches at centres with population 10,000 or more (per 2011 census) are in scope.
• The amended scheme explicitly defines ‘electronic mode’ of deposit to include credit/debit cards, net banking, UPI, IMPS, RTGS, NEFT, BHIM/Aadhaar Pay etc.

About Special Leave Petition (SLP):

• A SLP is a request made to the Supreme Court of India seeking special permission to appeal against any judgment, order, or decree from any court or tribunal (except military tribunals), even when the law does not provide a statutory right of appeal.
• In other words, SLP is not a right—it's a privilege granted by the Supreme Court at its discretion.
• Article 136 states that the Supreme Court may, in its discretion, grant special leave to appeal from any judgment, decree, determination, or order from any court or tribunal in India.
• It can only be exercised when a substantial question of law or gross injustice has been committed.
• A judgement, decree, or order need not be final for an SLP. An interim or interlocutory order, decree, or judgement can also be challenged.
• It is a discretionary/optional power of the SC, and the court can refuse to grant the appeal at its discretion.
• The aggrieved party can’t affirm a special leave to offer under Article 136 as a right.
• SLP can be filed by:
  • Any aggrieved party (individual or business)
  • Government bodies
  • Public sector undertakings
  • NGOs or associations (in relevant cases)
    • The key requirement is that the party must be aggrieved by the impugned judgment or order.
    • An SLP can be filed for any civil or criminal matter, etc.
  • SLP can be filed against judgments from:
    • High Courts
    • Tribunals (except those under armed forces)
    • Quasi-judicial bodies
  • Time limit to file SLP:
    • It can be filed against any judgment of the High Court within 90 days from the date of judgment or
    • It can be filed within 60 days against the order of the High Court refusing to grant the certificate of fitness for appeal to SC.
  • Procedure for a SLP:
    • A SLP must contain all the facts upon which the SC is to decide, which revolve around the grounds on which an SLP can be filed.
    • The said petition needs to be duly signed by an Advocate-on-Record.
    • The petitioner must include a statement within the SLP stating that no other petition has been filed in a High Court.
    • Once the petition is filed, the SC will hear the aggrieved party and depending upon the merits of the case, will allow the opposite party to state their part in a counter affidavit.
    • After the hearing, if the court deems the case fit for further hearing, it will allow the same; otherwise it will reject the appeal.

About Bharat NCAP:

• The Bharat New Car Assessment Programme (Bharat NCAP) is an indigenous star-rating system for crash testing cars, under which vehicles will be assigned between one to five stars, indicating their safety in a collision.
• It is an ambitious joint project between the Government of India (GoI) and Global NCAP, the regulatory body behind the safety crash test ratings.
• Objective: To help consumers make an informed decision before purchasing a car, thereby spurring demand for safer cars.
• Under the Bharat NCAP, cars voluntarily nominated by automobile manufacturers will be crash tested as per protocols laid down in the Automotive Industry Standard (AIS) 197.
• Vehicles tested under the Bharat NCAP are evaluated across three critical safety domains: adult occupant protection, child occupant protection, and safety assist technologies.
• Applicability:
  • Only right-hand drive passenger vehicles on sale in India and weighing less than 3,500 kg are eligible for consideration.
  • Base variants of cars are to be tested, and ratings will be applicable for four years.
  • Besides internal combustion engine (ICE) models, CNG cars as well as battery-powered electric vehicles are eligible to undergo the safety test.
• It is a voluntary programme under which the cost of the car for assessment for star rating and the cost of such assessment are borne by the respective vehicle manufacturer or importer.
• Bharat NCAP is overseen by the Ministry of Road Transport, but is an independent body.
• The current Bharat NCAP regulations remain valid until September 30, 2027, after which Bharat NCAP 2.0 is expected to be implemented by October 2027.

Bharat NCAP 2.0 Proposed Guidelines:

• It brings in fresh mandatory tests, revised scoring methods, and updated safety verticals.
• Notably, for the first time, vehicles will be assessed on vulnerable road user protection.
• The Bharat NCAP 2.0 proposal introduces a 100-point rating system across five pillars: Crash Protection, Vulnerable Road-User Protection, Safe Driving, Accident Avoidance, and Post-Crash Safety.
• The crash test will be expanded from two to five and will now have Male, female, and child dummies for testing.
• The cars will go through offset frontal impact, full-width frontal impact, side impact, pole side impact, and rear impact.
• Electronic stability control (ESC) and curtain airbags will be compulsory for any model seeking a star rating.
• Autonomous emergency braking (AEB) remains optional. Models with side-facing seats will not be eligible for a rating.
• From 2027-29, a 5-star rating will require 70 points, and this would rise to 80 points from 2029-31.
• Minimum scores will also apply across each pillar.

About Pazhayar River:

• It is a major river flowing in the Kanniyakumari district of Tamil Nadu.
• Course:
  • It originates from the slopes of Mahendragiri hills.
  • It flows towards southwestern direction and joins the Arabian Sea near Manakudi.
• Alathurayar, Poigaiyar, Thadaveyar, Koya odai, and Ulakkaruviyar are the major tributaries of the Pazhayar River.
• Chattupythur dam, Chettothoppu dam, Cholanmkattu dam, Kutty dam, Kumari dam, Mission dam, Pallikondam dam, Pillaipetha dam, Salari dam, Veerapuli dam, and Veeranarayanamangalam are some of the dams constructed in the Pazhayar River.
• The Manakudi Estuary at its mouth is ecologically sensitive and rich in mangroves, birds, and marine life.

About HAMMER Weapon System:

• The HAMMER (Highly Agile and Manoeuvrable Munition Extended Range) is an air-to-ground precision-guided weapon system developed by Safran, a French aerospace and defence company.
• It is also known as a glide bomb.
• Features of HAMMER Weapon System:
  • Range: HAMMER precision-guided munitions have a range of up to 70 km.
  • It can be fitted to standard bombs of 250kg, 500kg, and 1,000kg weights.
  • It is resistant to jamming, and capable of being launched from low altitudes over rough terrain.
  • It is difficult to intercept and can penetrate fortified structures.
  • Design and Capabilities: It is a precision-guided weapon system known for its high accuracy and modular design, making it adaptable for multiple platforms, including the Rafale and Light Combat Aircraft Tejas.

What is a Precision-Guided Weapon system?

• It is a guided weapon intended to destroy a point target and minimize collateral damage.
• These are also known as "smart bombs”.
• These systems incorporate a guidance system (typically in the front of the precision munition), a payload, and fins.

About Auramine O:

• It is a synthetic yellow dye produced from compounds such as dimethylaniline and formaldehyde.
• The dye appears as yellow flakes or powder and dissolves easily when mixed with solvents.
• It is not approved for use as a food colour in India, the European Union, and the United States.
• Applications of Auramine O: It is extensively used in industry, including textile and leather processing, printing inks, paper manufacturing, and certain microbiological staining procedures.
• Impacts on Human Health: It creates health risks like liver and kidney damage, enlargement of the spleen, mutagenic effects that can alter genetic material, and potential carcinogenic outcomes.
• Global context: It is classified as an industrial dye by the regulators in the S., EU, and East Asian nations and its presence in consumables triggers product recalls and import alerts.
  • The International Agency for Research on Cancer (IARC) classifies auramine as a substance that is possibly carcinogenic to humans.

About Hayli Gubbi Volcano:

• Location: It is located in Ethiopia’s Afar region, in northeast of Addis Ababa near the Eritrean border.
• It is a shield volcano that sits within Ethiopia’s Danakil Depression, one of the hottest and most remote areas on the planet.
• It is the southernmost volcano in the Erta Ale range.
  • The Erta Ale range is known for its persistent lava lakes and is primarily made up of shield volcanoes.
• Hayli Gubbi has no previously recorded eruptions in modern history.

Key Facts about Shield volcano:

• They are the largest volcanoes on Earth
• They are almost exclusively basalt (a type of lava that is very fluid when erupted).
• These volcanoes are not steep. They are broad volcanoes with gentle slopes.
• They are built by repeated eruptions that occurred intermittently over vast periods of time.

What is Ash cloud?

• An ash cloud forms when a volcano erupts and sends volcanic materials into the atmosphere.
• It contains fine volcanic ash, sulphur dioxide, and tiny fragments of rock and glass.
• It has an adverse effect on human health, causing respiratory problems, eye irritation and skin discomfort.

About Asian and Pacific Centre for Development of Disaster Information Management:

• It is a regional institution of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). 
• Vision: To ensure effective disaster risk information is produced and used for sustainable development in Asia and the Pacific. 
• Mandate: To reduce human and material losses due to natural hazards and contribute to the effective design, investment and implementation of disaster risk reduction and resilience policies.
• Governance: It is governed by a Governing Council consisting of eight ESCAP member countries elected for a period of three years (India is one of the members for a period from 2022 to 2025).
• Headquarter: Tehran, Iran.
• Functions of Asian and Pacific Centre for Development of Disaster Information Management
  • Risk Information and Knowledge Repository: It functions as a regional facility to strengthen the science-policy interface.
  • Information Capacity and Application: It facilitates the exchange of expertise, experiences, and knowledge in disaster information management between and within the countries of the region.
  • Regional Cooperation and Coordination for Disaster Risk Information: It promotes effective regional cooperation, facilitate dialogue.

About Information Security Education and Awareness Project:

• It is an initiative of the Ministry of Electronics and Information Technology (MeitY), Government of India.
• Purpose: Generating human resources in the area of Information Security and creating general awareness on cyber hygiene/cyber security among the masses.
• Aim: It is aimed at human resources development for safe, trusted, and secure cyber space.
• Implementation of Information Security Education and Awareness Project:
  • The project is implemented through select 50 institutions in a hub-n-spoke mode, comprising:
    • Premier Academic Institutionse. IITs, NITs, IIITs, etc.
    • Autonomous Organizations of MeitY i.e. C-DAC & NIELIT
    • Technical Universities

Key Facts about Cyber Security Innovation Challenge (CSIC) 1.0:

• It is an initiative of the Ministry of Electronics and Information Technology (MeitY)
• It was launched for students and researchers to work upon real-world cyber challenges.
• It is strategically designed to foster indigenous, research-driven cyber security solutions from the academic ecosystem.
• It would focus on problem statements across 10 domains;
  • Computer & Network Security; Mobile Device Security; Systems & Software Security; Hardware Security; Security in Futuristic Technologies; Cryptography; Security in Distributed Wireless Networks; Cyber Forensics; Governance, Operations & Services; and Fintech Security.