Economic Capital Framework (ECF) and RBI’s Dividend Transfer
The Economic Capital Framework (ECF) is a structured system adopted by the Reserve Bank of India (RBI) in 2019 based on recommendations of the Bimal Jalan Committee (2018). It is designed to determine the optimal level of risk provisions and the surplus (dividend) that can be transferred to the Government of India under Section 47 of the RBI Act, 1934.
Key Features of ECF:
- Contingency Risk Buffer (CRB): Maintained between 5.5% and 6.5% of RBI’s balance sheet to cover unforeseen economic shocks.
- Economic Capital (CGRA): Includes revaluation balances and provisions, to be maintained between 20.8% and 25.4% of the balance sheet.
- Review Mechanism: To be reviewed every five years; the latest review was conducted in August 2024.
Surplus Transfer Provisions:
- Section 47 mandates transfer of RBI’s net profits (after CRB and ADF provisioning) to the central government.
- RBI’s dividend transfer has risen significantly—from ₹30,307 crore in FY22 to an estimated ₹2.5–3 lakh crore in FY25.
- This increase is due to gains from dollar sales, gold prices, and interest income on government securities.
Significance of Surplus Transfer:
- Reduces fiscal deficit, helping the government meet its fiscal target (5.1% in FY25).
- Enhances non-tax revenue and public spending capacity.
- May lower government borrowing and interest rates, supporting overall economic growth.
Quasi-Steady State Cosmology (QSSC)
The Quasi-Steady State Cosmology (QSSC) is an alternative theory to the Big Bang, developed by Fred Hoyle, Jayant Vishnu Narlikar, and Geoffrey Burbidge in the early 1990s. It refined the earlier Steady-State Theory and aimed to address the shortcomings of the Big Bang Theory.
Key Features:
- Cyclic Universe: Proposes the universe expands and contracts in periodic cycles, while maintaining a steady-state appearance on a large scale.
- No Singular Origin: Rejects the idea of a singular Big Bang. Instead, matter is created intermittently through “mini-bangs” or local creation events.
- Modified General Relativity: Introduces changes to Einstein’s equations to allow for continuous matter creation, a key contribution by Jayant Narlikar.
- Eternal Universe: Suggests the universe has no beginning or end, unlike the Big Bang which posits a definite origin.
- Scientific Status: While not widely accepted, QSSC has contributed significant mathematical and theoretical insights in cosmology.
16th Asiatic Lion Census 2025
The 16th Asiatic Lion Census 2025, conducted by the Gujarat Forest Department, recorded a 32.2% rise in the lion population—from 674 in 2020 to 891 in 2025.
Key Findings:
- Total Lions: 891, with 507 living in non-forest areas, up from 340 in 2020.
- Protected Area Population: 384 lions live inside Gir National Park and adjoining sanctuaries.
- New Ranges: Barda Wildlife Sanctuary (17 lions) reported lions for the first time since 1879. New satellite populations were also identified near Jetpur and Babra-Jasdan.
- Amreli District: Highest population at 257 lions.
- Adult Females: 330, indicating strong reproductive potential.
Reasons for Growth:
- Project Lion: Focused on habitat restoration, prey base strengthening, and conflict mitigation.
- Scientific Census Methodology: Used direct beat verification, with divisions into zones and real-time monitoring, unlike traditional pugmark methods.
About Project Lion (2020):
- Launched to ensure long-term survival of Asiatic lions.
- Emphasizes habitat improvement, use of radio-collars, camera traps, and GIS-based real-time monitoring.
- Managed primarily in the Gir landscape by the Gujarat Forest Department.
Mizoram: India’s First Fully Functionally Literate State
Mizoram has become India’s first state to achieve full functional literacy, with a literacy rate of 98.20%, as per the PLFS Survey 2023–24. This milestone aligns with the Ministry of Education’s standards under the ULLAS (Understanding of Lifelong Learning for All in Society) programme.
Key Highlights:
- Functional Literacy: Ability to effectively use reading, writing, and numeracy in daily life for personal and societal development.
- First UT to achieve this status: Ladakh, earlier than Mizoram.
About ULLAS – Nav Bharat Saksharta Karyakram (New India Literacy Programme):
- Launched: 2022–2027 (Centrally Sponsored Scheme).
- Objective: To educate adults aged 15 and above who missed formal schooling, in line with NEP 2020.
- Components:
- Foundational Literacy & Numeracy
- Critical Life Skills
- Basic Education
- Vocational Skills
- Continuing Education
- Implementation: Promotes volunteerism and community engagement under ‘Kartavya Bodh’ (sense of duty).
- Tools: Uses DIKSHA platform, ULLAS portal, and regional content for accessible learning.
- Assessment: Through FLNAT (Foundational Literacy and Numeracy Assessment Test), conducted biannually at local schools.
Significance:
Mizoram’s achievement demonstrates the effectiveness of adult education policies and community-based learning, making it a model for other Indian states.
Indian Yak Genomics – A Breakthrough in Conservation Genetics
Indian scientists have successfully assembled the first-ever chromosome-level genome of the Indian Yak (Bos grunniens) using long-read sequencing and advanced bioinformatics.
Key Highlights:
- Genome Assembly:
- Achieved using long-read sequencing, capable of reading long DNA fragments, allowing better accuracy and structural mapping.
- Bioinformatics tools were applied to align and analyze genetic data.
- Significance:
- Enables allele mining—identifying genetic traits like disease resistance, climate adaptability, and high productivity.
- Aids in scientific livestock management, conservation breeding, and research.
- Distribution:
- Found in high-altitude regions above 7,000 feet in Ladakh, Sikkim, Arunachal Pradesh, and Himachal Pradesh.
Protection Status of Indian Yak:
- IUCN Red List: Vulnerable
- CITES: Appendix I
- Wildlife Protection Act (1972): Schedule I
Food Animal Status:
- In 2022, the FSSAI recognized the Himalayan yak as a ‘food animal’, enabling its regulated use for food to prevent population decline and enhance economic viability for herders.
Importance:
This genomic advancement marks a significant step toward biodiversity conservation, livelihood security in the Himalayas, and genetic resource management in Indian livestock science.
Guttala Drought Inscription – Earliest Record of Natural Disaster in India
A rare Kannada inscription was discovered in Haveri, Karnataka, dated 18th August 1539 CE, marking India’s earliest known record of mass deaths due to a natural disaster—a severe drought (“bara”).
Key Highlights:
- Historical Significance:
- Records 6,307 deaths due to famine-like conditions caused by drought.
- Victims were buried after paying homage to Basaveshwara, a revered saint.
- This is the first explicit epigraphic evidence in India detailing a humanitarian crisis from a natural calamity.
- Cultural Value of Inscriptions:
- Inscriptions serve as primary historical sources, often carved on stone or metal, recording events, donations, decrees, and royal achievements.
Other Notable Inscriptions in Karnataka:
- Maski Rock Edict (3rd Century BCE):
- Minor Edict of Emperor Ashoka; first use of the title “Devanampriya”.
- Aihole Inscription (634 CE):
- Composed by Ravikirti; documents the victories of Pulakeshin II, including over Harshavardhana.
- Halmidi Inscription (450 CE):
- Oldest Kannada inscription, written in early Kannada script.
- Mentions Kadamba king Kakusthavarma; consists of 16 lines on sandstone.
Importance:
The Guttala inscription is a vital archaeological and humanitarian record, reflecting the historical impact of climate events, and enriching our understanding of medieval society’s response to natural disasters.
