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1. India's Balance of Payments (BoP) reflects all financial transactions with the world, influencing currency exchange rates and economic health. In Q4 of 2023-24, India saw a current account surplus, its first in 11 quarters, mainly due to a surplus in services despite a trade deficit. The BoP consists of the current account (goods and services trade) and the capital account (investments like FDI and FII). A surplus occurs when earnings exceed expenditures, while a deficit indicates the opposite, requiring external financing. BoP management involves RBI's foreign exchange reserves adjustments and policy interventions. Promoting foreign investment through incentives can boost the capital account and enhance export capacity, ensuring economic stability.
2. Recent research unveiled the world's oldest known figurative cave painting, approximately 51,200 years old, located in a limestone cave on Sulawesi Island, Indonesia. The painting depicts a pig with three human-like figures surrounding it, showcasing early narrative art. Researchers used uranium series analysis of calcite deposits to date the painting, revealing it to be 4,000 years older than previously thought. This technique involves comparing specific isotopes of uranium and thorium. The discovery highlights the advanced cultural practices of early humans. In contrast, India's Bhimbetka rock paintings, located in Madhya Pradesh and estimated to be around 30,000 years old, predominantly belong to the Mesolithic age. These paintings depict everyday life, animals, hunting scenes, and geometric designs, using natural colors like red ochre and haematite.
3. The US President faces calls for a cognitive test amid concerns about his fitness for office. Cognitive tests evaluate mental function and brain processing through basic questions and tasks, assessing cognition, memory, focus, and judgment. These tests identify cognitive deficits, their causes, and affected brain regions, leading to diagnoses such as cognitive impairment, dementia, or pseudo-dementia, and informing interventions like behavioral and cognitive therapies. They are recommended for those experiencing memory issues, forgetfulness, or difficulty focusing. Common tests include the Montreal Cognitive Assessment (MoCA), Mini-Mental State Exam (MMSE), and Mini-Cog.
4. India and Pakistan recently exchanged lists of civilian prisoners and fishermen held in each other's custody, a routine conducted biannually under the bilateral Agreement on Consular Access 2008. According to Section 4 of this agreement, both governments must provide consular access to detained citizens of the other nation within three months. Section 5 mandates the release and repatriation of these individuals within one month after confirming their nationality and completing their sentences. The Indian government has urged Pakistan for the early release and repatriation of these prisoners and fishermen, along with their boats, and missing Indian defense personnel.
5. The Women Entrepreneurship Platform (WEP) and TransUnion CIBIL recently launched the SEHER program to empower women entrepreneurs in India. The program focuses on increasing financial awareness and credit management skills among women entrepreneurs through personalized resources and tools. India has significant potential for women's entrepreneurship, with the ability to create over 30 million new women-owned enterprises and 150-170 million jobs. Currently, 20% of India's 63 million Micro, Small, and Medium Enterprises (MSMEs) are owned by women, employing 27 million people. The demand for business loans by women has increased 3.9 times over the past five years, with the share of women borrowers holding business loans rising by 10% from FY 2019 to FY 2024. Rural areas have a slightly higher share of women-owned enterprises (22.24%) compared to urban areas (18.42%). Launched by NITI Aayog in 2018 and transitioned to a Public-Private Partnership (PPP) in 2022, WEP aims to support women entrepreneurs across India. TransUnion CIBIL, India's leading credit information company, plays a key role in this initiative.