Syria’s Aleppo Slips from Government Hands, Says Monitor

Syria’s second-largest city, Aleppo, has fallen from government control for the first time since the conflict began over a decade ago. This shift comes after a surprise offensive by Islamist-dominated rebel groups, with support from Hayat Tahrir al-Sham and allied factions. The city’s loss marks a significant turning point in the Syrian conflict, as it had previously been recaptured by government forces in 2016.

Key Points

  • Aleppo Falls: Aleppo, Syria’s second-largest city, has slipped out of the Syrian government’s control for the first time since the start of the civil war in 2011.
  • Rebel Offensive: The loss follows a sudden offensive by rebel groups, led by Hayat Tahrir al-Sham, who control much of northern Syria, including Aleppo’s airport and several towns.
  • Role of External Powers: The Syrian government’s forces have received substantial backing from Russian air power and Hezbollah, but their strength has been waning due to losses in other regions.
  • Kurdish Control: Parts of Aleppo, specifically northern districts, are still under Kurdish control, led by the Syrian Democratic Forces (SDF), a US-backed militia.
  • Casualties: More than 370 people have died due to the fighting, including at least 48 civilians, with the situation exacerbated by Russian air strikes.
  • Rebel’s Strategic Goals: The rebel alliance sees the offensive as part of a broader shift in regional power dynamics, including the weakening of Iranian influence in the region.

Implications of the Fall of Aleppo

  • Impact on Government Control: Aleppo’s fall indicates the vulnerability of the Syrian government’s hold on key territories.
  • Regional Tensions: The shift in control has wider implications for the Middle East’s geopolitical landscape, with multiple external players involved in the ongoing struggle for influence.
  • Humanitarian Crisis: The continued fighting, particularly in urban areas like Aleppo, exacerbates the humanitarian situation, with civilian casualties and displacement on the rise.
  • Weakness of the Syrian Regime: The rebel advance, with little resistance from government forces, signals a significant weakening of the regime’s control over large swaths of the country.
Summary/Static Details
Why in the news? Syria’s second-largest city, Aleppo, has fallen from government control for the first time 
Cause of Fall Lightning offensive by Hayat Tahrir al-Sham and allied rebel groups.
External Involvement Syrian government backed by Russia and Hezbollah.
Current Control Rebels control Aleppo city, excluding Kurdish-controlled areas.
Casualties Over 370 people were killed, including 48 civilians.
Government Response The Syrian army reinforced positions around Hama, but has shown weakness in resisting the rebel advance.
Impact on Syria’s Regime The fall of Aleppo indicates the vulnerability of the Assad regime and challenges its territorial control.

Which District of Haryana is Known as the Heart of Haryana?

Haryana, a state in northern India, is home to several important districts. Among them, Kurukshetra is often referred to as the Heart of Haryana. This nickname comes from its historical, religious, and cultural significance. Let’s explore why Kurukshetra holds such a special place.

An Overview of Haryana

Haryana is a state in northern India, created on November 1, 1966, after the reorganization of Punjab. It covers 44,212 km², making up less than 1.4% of India’s total area. The capital is Chandigarh, shared with Punjab. Faridabad is the largest city, and Gurgaon is a major hub for finance and technology in India.

Administrative Divisions of Haryana

Haryana is divided into 6 administrative divisions, 22 districts, and 72 sub-divisions. It has 93 revenue tehsils, 50 sub-tehsils, and 140 community development blocks. The state is home to 154 cities and towns, along with 7,356 villages and 6,222 village panchayats.

Heart of Haryana

Jind is a district in Haryana, often referred to as the “Heart of Haryana” due to its historical, mythological, and cultural importance. This district plays a key role in the state’s history and geography.

Why is Jind Known as the Heart of Haryana?

Jind is known as the “Heart of Haryana” because of its historical, mythological, and geographical importance. It is believed that the Pandavas built a temple to Jayanti Devi here, and the town was once called Jaitapuri. Jind is centrally located in Haryana, surrounded by several districts, making it a key part of the state’s culture and history.

Historical and Mythological Significance of Jind

Jind has a deep historical and mythological significance. It is believed that the Pandavas, characters from the Indian epic Mahabharata, built a temple to Jayanti Devi, the Goddess of Victory, in the area. The town was originally known as Jaitapuri after this temple. Over time, the name was shortened to Jind.

Archaeological Findings

Archaeologists have found that Jind has been ruined and rebuilt several times throughout history. It is said to have been destroyed five times but prospered and thrived each time. Excavations suggest that the region even dates back to the pre-Harappan era, revealing its ancient origins.

Other Attractions of Jind

Jind is home to many religious and cultural spots. Rani Talab is a popular tourist location known for its beauty and peaceful environment. Pandu-Pindara and Ramrai are religious places where people go to bathe during Amavasya (the new moon day), seeking blessings and spiritual fulfillment.

Location of Jind

Jind is located in the northern part of Haryana. The district lies between 29.03′ and 29.51′ North latitude and 75.53′ and 76.47′ East longitude. Jind shares its borders with seven districts of Haryana and the Sangrur district of Punjab, making it a key geographical location in the state.

India Faces Risks from Trump’s BRICS Tariff

As Donald Trump gears up for a potential second term as US President, his protectionist trade policies have already started causing ripples in the global economy. A major part of his strategy involves imposing 100% tariffs on BRICS countries, including India, if they reduce their reliance on the US dollar for international transactions. With the BRICS nations, including India, discussing the possibility of de-dollarisation, Trump’s comments present a serious challenge for India’s export sectors, including pharmaceuticals, textiles, and IT services. 

Trump’s Protectionist Trade Policies

  • Trump has threatened to impose 100% tariffs on BRICS countries, including India, if they move away from using the US dollar in global trade. This is part of his broader protectionist approach to safeguard the US dollar’s dominance.

BRICS Summit on De-dollarisation

  • During a summit held in October in Russia, BRICS nations (Brazil, Russia, India, China, South Africa) discussed reducing reliance on the US dollar for trade, which led to Trump’s strong response.

India’s Economic Ties with the US

  • The US is India’s largest trading partner, with bilateral trade exceeding $120 billion in FY24
  • India’s diverse export portfolio to the US includes pharmaceuticals, textiles, engineering goods, and IT services. 
  • Any tariff hikes could make Indian products less competitive in the US market.

India’s Cautious Approach to De-dollarisation

  • While India is exploring alternatives to the dollar, the Indian government has made it clear that de-dollarisation is not a part of the country’s economic policy. 
  • India’s Foreign Minister S. Jaishankar stated that India’s strategy revolves around finding alternatives when specific obstacles arise, not a full-scale move away from the dollar.

Trump’s Tariff Threats and India’s Position

  • Trump’s tariff threat is not new, as he has previously criticised India for its high tariffs. However, his personal relationship with Prime Minister Modi might mitigate some of the damage, as both leaders could engage in negotiations to safeguard India’s economic interests.

Global Economic Impact

  • The global economy is already feeling the effects of Trump’s protectionist policies. A trade war between the US and major economies, including BRICS nations, could destabilize global markets, causing a decline in demand for exports and slowing down economic growth.

Shifts in Supply Chains

  • Trump’s “China+1” strategy has led to businesses relocating operations to India. While this offers opportunities for India, the broader economic slowdown and the imposition of tariffs could counteract these benefits, especially for sectors reliant on the US market.

Risks for India’s Export Sectors

  • India’s key export sectors, including pharmaceuticals, textiles, and IT services, could face significant challenges. Higher tariffs could reduce the competitiveness of Indian goods in the US market, potentially leading to lower trade volumes and economic slowdowns.

India’s Strategy Moving Forward

  • India will need to balance maintaining strong trade ties with the US while exploring alternatives to the dollar. The country’s growth strategy will have to navigate the challenges posed by global economic instability and tariff hikes.
Summary/Static Details
Why in the news? Donald Trump’s 100% BRICS Tariff Plan
Trump’s Tariff Threats Threat to impose 100% tariffs on BRICS countries, including India, for moving away from the US dollar.
BRICS De-dollarisation Discussions BRICS countries, including India, are exploring alternatives to the US dollar for trade.
India-US Trade Relationship The US is India’s largest trading partner with over $120 billion in bilateral trade (FY24).
India’s Approach to De-dollarisation India is cautious about de-dollarisation and focuses on finding alternatives when necessary.
Trump’s Criticism of India Trump has criticized India’s high tariffs and threatened reciprocal tariffs in the past.
Impact on India’s Export Sectors Key sectors like pharmaceuticals, textiles, and IT could face higher costs and reduced competitiveness.
Global Economic Impact Trump’s protectionism could destabilize global markets, slowing economic growth.

Indian-Origin Kash Patel Takes Charge of Director of FBI

US President-elect Donald Trump has announced Kash Patel as the next Director of the Federal Bureau of Investigation (FBI), succeeding Christopher Wray. Patel, a long-time Trump loyalist known for his confrontational stance against the “deep state” and criticism of federal agencies, brings a history of staunch support for Trump’s policies. 

Appointment Announcement

  • Kash Patel named FBI Director by President-elect Donald Trump.
  • He replaces Christopher Wray.

Loyalty to Trump

  • Known for unwavering support for Trump’s agenda.
  • Vocal critic of agencies, including the FBI, that he believes undermined Trump’s policies.

Key Roles in Trump’s Presidency

  • Transitioned from legal to political career in 2016 as aide to Devin Nunes.
  • Played a significant role during the 2016 Russiagate investigation.

Russiagate Involvement

  • Investigated FBI wiretapping of Carter Page and origins of the Steele dossier.
  • Work reinforced his position as a key Trump loyalist.

Defense During Impeachment Trials

  • Defended Trump in his first impeachment trial over alleged misconduct related to Ukraine.

Book: Government Gangsters

  • Articulates a vision of a government aligned with Trump’s principles.
  • Advocates for removing officials seen as obstructing Trump’s agenda.

Controversial Actions Post-Trump Administration

  • Supported Trump during the Mar-a-Lago documents investigation.
  • Publicly backed Trump’s claim of a standing declassification order.
Summary/Static Details
Why in the news? US President-elect Donald Trump has announced Kash Patel as the next Director of the Federal Bureau of Investigation (FBI)
Predecessor Christopher Wray
Loyalty Unwavering support for Trump’s agenda
Key Roles Aid to Devin Nunes, Russiagate investigation, Trump impeachment defense
Significance Reflects Trump’s intent to reshape federal institutions

‘Mission Himveer’: Empowering Arunachal’s Economy

The Government of Arunachal Pradesh has launched Mission Arun Himveer to enhance market linkages for local agricultural and horticultural producers. In a significant move, the Arunachal Pradesh Agriculture Marketing Board (APAMB) signed a Memorandum of Understanding (MoU) with the Indo-Tibetan Border Police (ITBP), North East Frontier, in the presence of Chief Minister Pema Khandu.

Key Highlights of Mission Arun Himveer

Objectives

  • Provide direct market access for local farmers, SHGs, Farmer Producer Organizations (FPOs), and cooperatives.
  • Foster economic growth in rural and border regions.
  • Solve employment challenges by promoting reverse migration to villages.
  • Support the Vibrant Village Programme by addressing the demand for agricultural and horticultural products in border areas.

Features of the MoU

  • ITBP will purchase fruits, vegetables, meat, and poultry directly from local farmers through APAMB.
  • Payments will be processed via a revolving fund of ₹4 crore, reimbursed after reconciliation by ITBP.
  • Farmers receive 100% of the funds from this initiative.

Milestones Achieved

  • 400 tons of produce worth ₹72 lakhs were supplied to the Indian Army under a similar agreement in August 2022.
  • Exchange of agricultural produce has already begun in regions like Tawang, Lower Subansiri, West Siang, Upper Siang, and Lohit.

Economic Impact

  • ₹10 crore annual business expected under the Mission.
  • Encourages participation in farming, doubling farmers’ income.
  • Strengthens women’s contribution to the rural economy, with over 1 lakh women involved in SHGs statewide.

Social and Strategic Benefits

  • Strengthens relationships between border residents and ITBP forces.
  • Promotes self-reliance and sustainability among farmers.
  • Encourages reverse migration by creating rural employment opportunities.

Leadership and Participation

  • MoU signed by APAMB CEO Okit Palling and ITBP NE Frontier Inspector General Akun Sabharwal.
  • Ceremony attended by Deputy Chief Minister Chowna Mein, Chief Secretary, and senior officers from agricultural and allied sectors.
  • Deputy Commissioners, farmers, SHGs, and cooperatives participated virtually.

Future Goals

  • Expand market access for remote villages with limited surplus.
  • Integrate border regions into the state’s mainstream economy.
  • Encourage innovation and diversification in farming practices.
Summary/Static Details
Why in the news? Arunachal Pradesh launches ‘Mission Himveer’ to boost local economy
Launch Date December 1, 2024
Key Stakeholders Arunachal Pradesh Agriculture Marketing Board (APAMB), ITBP
Objectives Boost market linkages, support Vibrant Village Programme, promote rural employment
Economic Impact ₹10 crore annual business; 100% payment to farmers; ₹4 crore revolving fund
Key Milestones Previous supply of ₹72 lakh produce to Indian Army; Initial exchange in Tawang, Ziro, Aalo, etc.
Social Benefits Reverse migration, improved ties with ITBP, women’s empowerment in rural areas
Implementation Method Direct procurement by ITBP; APAMB manages payment through revolving fund
Future Goals Expand markets, enhance rural economies, and integrate border regions

Bangladesh’s 2024 Election: Boycott and Tensions Loom

Bangladesh is set to hold its general elections on Sunday, January 7, 2024, with Prime Minister Sheikh Hasina poised for a fourth consecutive term. However, the polls are marred by significant opposition boycotts, political violence, and accusations of an undemocratic process. With the main opposition party, BNP, choosing to abstain from the elections, citing lack of fairness, the ruling Awami League appears set to win. Tight security measures have been put in place, and the outcome will likely shape Bangladesh’s political landscape for the coming years.

Key Developments

Election Boycott: The Bangladesh Nationalist Party (BNP) is boycotting the polls, citing the government’s illegitimacy and recent arrests of political rivals. The BNP has called for a nationwide strike in protest.

Security & Violence: Amidst heightened security, violence has erupted in some districts with bombings and clashes between police and BNP supporters. These incidents have raised concerns over the safety and integrity of the election.

Foreign Monitoring: Over 100 foreign observers, including some from India, are monitoring the elections, which are expected to be decided on January 8.

Historical Context & Challenges

Previous Elections: Hasina’s government has faced criticism in past elections, notably the 2019 elections marred by violence and accusations of rigging. Despite these issues, Hasina’s Awami League has managed to retain power since 2009, consolidating its rule.

Economic Concerns: The ongoing economic struggles, exacerbated by the Russia-Ukraine conflict, have led to public dissatisfaction. Critics fear a prolonged Hasina rule could worsen the economic situation, especially as the government turned to the IMF for assistance last year.

International Perspective

Global Reactions: The International Crisis Group has highlighted the critical situation in Bangladesh, urging both the Awami League and BNP to seek de-escalation after the elections. The Commonwealth Observer Group has also called the political atmosphere tense but emphasized that no democracy is perfect.

Summery of the news

Why in News Key Points
Bangladesh Election 2024 Bangladesh will hold general elections on January 7, 2024, with PM Sheikh Hasina expected to secure a fourth consecutive term.
BNP Boycott The main opposition party, Bangladesh Nationalist Party (BNP), is boycotting the elections citing unfairness and lack of legitimacy.
Voter Information 119.6 million registered voters eligible to vote at over 42,000 polling stations.
Candidates 1,500+ candidates from 27 political parties, plus 436 independent candidates.
Foreign Observers Over 100 foreign observers, including three from India, will monitor the election.
Election Security Army troops deployed nationwide for election security. Violence and clashes reported in some districts.
PM Hasina’s Party Awami League, led by Sheikh Hasina, is the ruling party, which has been in power since 2009.
Opposition Participation Jatiya Party (JAPA) and Awami League’s coalition parties are participating; BNP is boycotting.
Strike Call BNP has called a 48-hour nationwide strike from January 6 to 8 against the “illegal government.”
International Crisis Group Statement Bangladesh at a critical juncture with concerns over the lack of a credible opposition.
Hasina’s Address PM Hasina urged law-abiding parties not to disrupt the constitutional process.
Political Violence Arson and bombings reported in several districts; at least four deaths from train arson attack.
Economic Context Bangladesh’s economy faces challenges, worsened by the Russia-Ukraine war; IMF bailout received.
Awards/Recognition No direct awards or recognition mentioned in the article.
Relevant Figures Sheikh Hasina (Prime Minister of Bangladesh), Khaleda Zia (BNP leader under house arrest).
International Relations Bangladesh’s political situation attracting international attention, including from the International Crisis Group and Commonwealth.

TFT Full Form, Its Overview, Work, Benefits and Drawbacks

TFT stands for Thin Film Transistor. It is a special technology used in LCD (Liquid Crystal Display) screens. TFT works by using a small electronic component, called a transistor, for every pixel on the screen. These transistors help switch the pixels on or off quickly, ensuring clear and smooth visuals.

Full Form of TFT

The full form of TFT is Thin Film Transistor. It is a technology used in LCD screens, where tiny transistors control each pixel. TFT ensures high resolution and fast image refresh rates, making it popular in devices like monitors, TVs, and smartphones.

How Does TFT Work?

In a TFT screen, each pixel is controlled by one to four tiny transistors. These transistors are arranged in a grid-like pattern, which is why TFT screens are also called active-matrix LCDs. This design helps create high-quality images and videos.

Common Devices that Use TFT Technology

TFT technology is widely used in many everyday devices, including:

  • Computer monitors
  • Televisions
  • Laptops
  • Smartphones
  • Navigation systems
  • Video gaming systems
  • Personal Digital Assistants (PDAs)
  • AMOLED screens, which also include a TFT layer.

Benefits of TFT Technology

TFT offers several advantages:

  • Each pixel has its own transistor, which makes the display sharper and more detailed.
  • Fast refresh rate, as the image is updated several times per second. This ensures smoother visuals for videos and games.
  • High resolution, making it ideal for devices that need clear and bright screens.

Drawbacks of TFT Technology

While TFT has many benefits, it is also costly compared to other flat-screen technologies. This is because of its complex structure and high production costs.

Singapore Tops FDI Inflows to India, Contributing 50% in Q3

In the July-September quarter of 2024-25, Singapore emerged as the largest source of Foreign Direct Investment (FDI) for India, contributing a significant 50% of the total inflows, which amounted to USD 13.6 billion. This marks a 43% increase in overall FDI inflows to India, reflecting a strong recovery after a period of weak investment. Singapore’s cumulative FDI into India, spanning from April 2000 to March 2024, stands at approximately USD 159.94 billion, highlighting the country’s longstanding and vital role in India’s economic growth.

Key Highlights of FDI from Singapore

FDI Contribution: Singapore accounted for over USD 7.5 billion, making up half of the total FDI received by India in the quarter.

Total FDI Inflows: The overall FDI inflows to India in the quarter reached USD 13.6 billion, a 43% increase year-on-year.

Bilateral Trade

Trade Relationship: In 2023-24, Singapore was India’s sixth-largest global trade partner, with a total trade value of USD 35.61 billion, contributing 29% of India’s trade with ASEAN countries.

Long-Term Economic Partnership

Cumulative FDI from Singapore: From 2000 to 2024, Singapore’s cumulative FDI to India has crossed USD 159.94 billion, cementing its position as a critical partner in India’s economic development.

Summary of the news

Why in News Key Points
Singapore was the largest source of FDI for India in the July-September 2024-25 quarter, contributing 50% of the total FDI inflows, which amounted to USD 13.6 billion. – Singapore contributed 50% of the total FDI inflows to India, about USD 7.5 billion in the July-September quarter.
FDI from Singapore: Cumulative FDI from April 2000 to March 2024 stands at USD 159.94 billion.
Singapore’s contribution to India’s FDI growth is significant as India is in need of foreign investment. Bilateral trade: Singapore was India’s 6th largest global trade partner in 2023-24 with a trade value of USD 35.61 billion, accounting for 29% of India’s trade with ASEAN.
The FDI inflow to India rose by 43% in the same quarter, indicating a rebound in foreign investment. FDI Inflow to India: The total FDI for the quarter was USD 13.6 billion, a 43% increase compared to the previous period.
Singapore continues to demonstrate strong economic ties with India. Singapore High Commissioner to India: HC Wong expressed support for India’s FDI growth in a social media post.

Banking Laws (Amendment) Bill, 2024 Set To Introduce in the Lok Sabha

Union Finance Minister Nirmala Sitharaman is set to introduce the Banking Laws (Amendment) Bill, 2024 in the Lok Sabha on 2nd December, 2024. The bill aims to amend several key banking-related legislations, including the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980. The amendments are expected to enhance the functioning and regulation of the banking sector, and the bill will be considered for debate and passage in the lower house of Parliament.

Key Amendments in the Banking Laws (Amendment) Bill, 2024

1. Definition of Fortnight for Cash Reserves

Current Definition

  • The RBI Act defines a “fortnight” as the period from Saturday to the second following Friday (including both days) to calculate the average daily balance held by scheduled banks as cash reserves.

Proposed Amendment

The Bill changes the definition of a “fortnight” to:

  • The period from the 1st day to the 15th day of each month, and
  • The period from the 16th day to the last day of each month.

Impact

  • This change also applies under the Banking Regulation Act, where non-scheduled banks are required to maintain cash reserves.

2. Tenure of Directors of Co-operative Banks

Current Rule

  • Directors of co-operative banks (except the chairman or whole-time directors) cannot hold office for more than eight consecutive years.

Proposed Amendment

  • The Bill seeks to increase the tenure for directors of co-operative banks to 10 consecutive years.

Impact

  • This extension is expected to provide stability in the governance of co-operative banks.

3. Prohibition on Common Directors in Co-operative Banks

Current Rule

  • The Banking Regulation Act prohibits a director from serving on the boards of more than one bank, with exceptions for directors appointed by the RBI.

Proposed Amendment

  • The Bill extends this exemption to the directors of central co-operative banks, allowing them to serve on the board of a state co-operative bank in which they are a member.

Impact

  • This aims to enhance coordination and strengthen the leadership within the co-operative banking system.

4. Substantial Interest in a Company

Current Rule

  • The Banking Regulation Act defines “substantial interest” as holding shares worth more than ₹5 lakh or 10% of the paid-up capital, whichever is less.

Proposed Amendment

  • The Bill increases this threshold to ₹2 crore, allowing individuals and their families (spouse or minor children) to hold a larger stake before it is considered substantial.

Impact

  • This change is expected to relax restrictions on shareholding, particularly benefiting larger investors and corporate entities.

5. Nomination for Deposits and Bank Products

Current Rule

  • The Banking Regulation Act allows depositors to appoint a single nominee for their deposits, articles, or lockers.

Proposed Amendment

The Bill allows up to four nominees for,

  • Deposits (either simultaneously or successively).
  • Other items like articles and lockers (successively).

Impact

  • The Bill outlines that in case of simultaneous nominations, the distribution will be according to a declared proportion. For successive nominations, the person listed first in the order of nomination will have priority.

Outcome

  • This will facilitate the distribution of assets and clarify the rights of multiple nominees.

6. Settlement of Unclaimed Amounts

Current Rule

  • Under the State Bank of India Act and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980, unpaid or unclaimed dividends are transferred to an unpaid dividend account, and after seven years, they are moved to the Investor Education and Protection Fund (IEPF).

Proposed Amendment

  • The Bill widens the scope of funds that can be transferred to the IEPF, now including:
  • Shares for which dividends have not been claimed for seven consecutive years.
  • Interest or redemption amounts for bonds that remain unpaid/unclaimed for seven years.

Impact

  • Individuals can claim unclaimed funds that have been transferred to the IEPF, helping to resolve outstanding claims and promote financial transparency.

7. Remuneration of Auditors

Current Rule

  • The remuneration for auditors of banks is decided by the RBI in consultation with the central government.

Proposed Amendment

  • The Bill empowers banks to determine the remuneration for their auditors independently.

Impact

  • This amendment is expected to streamline the process and reduce bureaucratic involvement in the auditing procedures of banks.
Summary/Static Details
Why in the news? Banking Laws (Amendment) Bill, 2024 Set To Introduce in the Lok Sabha 
Key Amendment Current Rule Proposed Amendment Impact
1. Definition of Fortnight for Cash Reserves Fortnight is defined as the period from Saturday to the second following Friday. Redefines a fortnight as: 1st-15th day and 16th-last day of each month. Standardizes the calculation of cash reserves for scheduled and non-scheduled banks.
2. Tenure of Directors of Co-operative Banks Directors (except chairman/whole-time) cannot hold office for more than 8 consecutive years. Increases tenure to 10 consecutive years for directors of co-operative banks. Provides stability in co-operative banks’ governance.
3. Prohibition on Common Directors in Co-operative Banks Prohibits a director from serving on the boards of multiple banks, with exceptions for RBI-appointed directors. Extends exemption to allow directors of central co-operative banks to serve on state co-operative bank boards. Enhances coordination and strengthens leadership within co-operative banks.
4. Substantial Interest in a Company Defines substantial interest as shares worth more than ₹5 lakh or 10% of paid-up capital. Increases the threshold to ₹2 crore for substantial interest, including family members. Relaxation of restrictions, benefiting larger investors and corporate entities.
5. Nomination for Deposits and Bank Products Allows a single nominee for deposits, articles, or lockers. Allows up to four nominees for deposits and items like articles/lockers (simultaneously or successively). Facilitates distribution of assets and clarifies rights of multiple nominees.
6. Settlement of Unclaimed Amounts Unclaimed dividends are transferred to the IEPF after seven years. Expands scope to include unclaimed shares, interest, or redemption amounts for seven years. Enables individuals to claim unclaimed funds, promoting financial transparency.
7. Remuneration of Auditors Remuneration for auditors is decided by RBI in consultation with the government Banks can independently determine the remuneration for their auditors. Streamlines the process and reduces bureaucratic involvement in banking audits.

Which Country is Known as the Land of Incas?

Many countries have unique titles that highlight their history, culture, or natural beauty. These names often reflect something special about the country’s heritage or identity. In this article, we will know about the country which is known as the “Land of Incas.”

Land of Incas

Peru is known as the Land of the Incas. This South American country has a rich history connected to the Inca Empire, one of the greatest ancient civilizations in the world. Let’s explore more about this fascinating country.

Why is Peru Known as the Land of Incas?

Peru is called the Land of the Incas because it was home to the Inca Empire, the largest in pre-Columbian America. The Incas built wonders like Machu Picchu and made Cusco their center. Their culture, history, and language, Quechua, still influence Peru, keeping the legacy of the Incas alive.

History of the Incas

The Incas were an ancient tribe of American Indians who lived in Peru. They established the largest empire in pre-Columbian America. Their civilization began in the 12th century A.D. and became powerful over time. However, in the mid-16th century, the Spanish conquered the Incas, bringing their empire to an end.

The Heart of the Incas Empire

Cusco was the political, military, and administrative center of the Inca Empire. Today, Cusco is a large city in Peru and attracts visitors from all over the world who want to learn about Inca history and see its amazing ruins.

Machu Picchu, A Wonder of the Incas

One of the most famous contributions of the Incas is Machu Picchu, a breathtaking citadel located high in the Andes Mountains. It is considered one of the greatest architectural achievements of the Inca Empire and is a UNESCO World Heritage Site.