16th JULY, 2024

'India's Energy Storage Landscape’ Report released by Mercom India Research

Key findings (as of March 2024)
India’s cumulative installed Battery Energy Storage System (BESS) capacity is 219.1 Megawatt-hours (MWh).
Chhattisgarh (Highest BESS capacity) accounts for 54.8% of cumulative installed capacity.
Solar photovoltaic (PV) systems, combined with BESS, accounted for 90.6% of total installed capacity.
About BESS
It refers to an electrochemical device which enables renewable energy like solar energy, wind energy to be stored and released
when needed.
Types of batteries used in BESS: Lithium-ion (Li-ion) batteries, Lead-acid batteries, Sodium-sulfur batteries etc.
Significance of BESS
Minimizes greenhouse gas emissions: Thus aid in achieving Panchamrit target of net zero emission by 2070.
Reduce Energy Costs: Stored energy can be used during peak
hours, when energy prices are highest. Initiatives taken to promote BESS
Reduce Grid Dependency and Improves Grid Stability: By Viability Gap Funding (VGF) scheme for development of
sourcing and storing power, and by balancing supply and 4,000 MWh of BESS projects by 2030-31.
demand.
Waiver of Inter-State Transmission Charges on BESS
Concerns with BESS Projects commissioned up to June 2025.
Increased need for maintenance and monitoring.
Production Linked Incentive Scheme for National
Initial cost can be high, which may deter users from investing Programme on Advanced Chemistry Cell Battery Storage.
in these systems.
National Framework for Promoting Energy Storage
Extraction of raw materials like lithium is energy intensive, Systems by Ministry of Power.
and can lead to water pollution, land degradation etc.

World Bank Group Guarantee Platform (WBG GP) goes live for business
Initiated in 2024, WBG Guarantees consolidates all guarantee products and experts from across the WBG institutions at
Multilateral Investment Guarantee Agency (MIGA).
WB guarantees are provided to private lenders, for infrastructure financing, where the demand for debt funding is large,
political and sovereign risks are significant, and longdated financing critical to a project’s viability.
Previous to the launch of the platform, the WBG offered 20 guarantee solutions each with different processes, rules, and
standards that impeded clients access.
WBG GP
Aims to boost WBG annual guarantee issuance to $20 billion by 2030.
The WBG issued approximately $10.3 billion in new guarantees using products from the platform in 2024.
Provides three types of coverages:
Credit guarantees for loans to the public or private sector; About WB Group
Trade finance guarantees; Global partnership of five institutions. India is a part of the
Political risk insurance against non-commercial risks for first four (i.e., not a part of ICSID).
private sector projects or public-private partnerships. IBRD (The International Bank for Reconstruction
and Development),
Significance
IDA (The International Development Association),
Simplified market-friendly menu of guarantee options offering
multiple options to WB clients. IFC (The International Finance Corporation),
Streamlines processes, removes redundancies, and provides MIGA (The Multilateral Investment Guarantee
greater accessibility by de-risking investments in developing Agency),
countries. ICSID (The International Centre for Settlement of
Prioritizing high-impact projects and facilitating growth. Investment Disputes),
Drive sustainable development and inclusive growth through IBRD and IDA form the WB.
innovative financing.

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 Ratna Bhandar, the sacred treasury of Shree Jagannath Temple, Puri reopened after 46 years
Odisha government established high level committee led by retired Justice Biswanath Rath to supervise inventorisation of
valuables including jewellery stored in Ratna Bhandar.
Additionally, Magji Ladoo (Odisha's Dhenkanal district), one of the ‘chappan bhog’ prasad at Shree Jagannath Temple got
Geographical Indication (GI) Tag.
About Ratna Bhandar
Located on northern side of Jagamohana (assembly hall of temple).
Comprises of Bahar Bhandar (outer chamber) and Bhitar Bhandar (inner chamber).
These chambers contain jewels of three sibling deities — Lord Balabhadra, Lord Jagannath, and Devi Subhadra.
Shree Jagannath Temple, Puri, Odisha (White Pagoda)
Dedicated to Lord Jagannath (incarnation of Lord Vishnu), Sister Devi Subhadra and elder brother Lord Balabhadra (holy
trinity).
Built during rule of Anantavarman Chodaganga Deva, the founder
of Ganga dynasty in first part of 12th century A.D.
Architectural style of Shree Jagannath Temple
Architecture style: Kalinga Architecture
Four component parts consisting of
Vimana or Deula (Garbhagriha): Built in style of nagara type
Rekha deula characterized by curvilinear tower known as sikhar.
Jagamohana: It is in form of Pidha deula, in which sikhara has
tiers of diminishing pidhas or platforms.
Natamandapa: Audience/Dancing Hall
Bhogamandapa: Hall for residuary offerings.
On both sides of outer wall of main temple, figures of Vishnu, four
on either side are carved which altogether depict 24 forms of
Vishnus, like Keshava, Madhava, Damodara and Narayana etc.

Report of India’s G20 Task Force on Digital Public Infrastructure (DPI) released
Task force was established in 2023 under India’s G20 Presidency to facilitate priorities on DPI and Financial Inclusion, and
supplement efforts towards adoption of DPI globally.
About DPI
Refers to building blocks or platforms like digital identity, financial infrastructure, and data exchange solutions that assist
governments in empowering individuals, and improving lives through digital inclusion.
India’s DPI, India Stack, comprises three foundational layers i.e. Digital identification (Aadhaar); Real-time fast payment (UPI);
and platform to safely share personal data without compromising privacy.
Achievements
10 billion transactions per month through UPI.
Over 6 billion documents stored by 211 Million people in DigiLocker.
Rich and Poor divide in bank account ownership
reduced from 14 to 1% (2011-2022).
Significance
Empowers and protects individuals with
control over their money and data.
Spurring market innovation by reducing
transaction costs, maintaining competition
through interoperability, and attracting private
capital.
Enables vulnerable groups (physically remote
populations, women, etc.) to access services,
helping close inter- group disparities like
gender gaps.
♦ Gender gap in bank account ownership
reduced from 18 to almost 0% (2011-2022).

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 Navigating New Horizons, A Foresight Reserve Bank of India(RBI) revises rules to
Report Released by UNEP manage financial fraud
The report identifies various critical global shifts which RBI has issued three revised master directions on fraud risk
are accelerating the triple planetary crisis of pollution, management for Regulated Entities.
biodiversity loss and climate change. Regulated Entities (RE) under RBI:
It also highlights that Global polycrisis, i.e, multiple shocks
Commercial Banks (including Regional Rural Banks) and
such as wars, extreme weather, pandemics etc faced today
All India Financial Institutions;
are interwoven and are a consequence of globalization.
Cooperative Banks (Urban Cooperative Banks / State
Various shifts, Signals and Potential Disruptions
Cooperative Banks / Central Cooperative Banks);
Changing relationship between humans and the
Non-Banking Finance Companies (including Housing
environment: Rising AMR, increase in uninhabitable
Finance Companies).
Spaces due to climate change.
Major Points of Master Directions
Scarcity and competition for critical resources is reshaping
global security dynamics: E.g. orbital space debris. In compliance with the Supreme Court judgement in State
Bank of India & Ors. Vs. Rajesh Agarwal & Ors of 2023
Waves of innovation in the digital landscape: Internet of
REs shall ensure compliance with the principles of natural
Things, AI Adoption.
justice in a time-bound manner before classifying Persons
Autonomous and artificial intelligence weapons systems: / Entities as fraud.
Amplified risks of biological agents misuse.
The requirement for Data Analytics and Market Intelligence
Mass forced displacement: 1.5% of world’s population is Unit is mandated to strengthen risk management systems.
forcibly displaced.
Framework on Early Warning Signals and Red Flagging of
Eco-Anxiety: Negative emotional responses related to the Accounts has been strengthened for early detection and
threat of environmental and climate crises. prevention of frauds in the REs.
Recommendations Also timely reporting to law enforcement agencies and
supervisors.
‘A new social contract’ as per UN Secretary General’s report
‘Our Common Agenda’ by engaging diverse stakeholders Significance
including women, indigenous and young people. Reducing and rationalising the compliance burden on the
Agile and adaptive governance for a sustainable future REs as the existing 36 Circulars were withdrawn.
with use of technology and funding. Instituting robust internal audit and controls framework in
Guiding governance through data and knowledge. the REs.
Extended to Regional Rural Banks, Rural Cooperative
Banks, and Housing Finance Companies to enhance fraud
risk management across more financial institutions.

Also in News

Biotechnology Research and Innovation

Indian Leopard
Council (BRIC)

As per IUCN, Indian leopard (Panthera pardus fusca) is suspected to BRIC- Translational Health Science and Technology Institute hosted
have declined by 24.5% over the last three generations. an industry meet ‘SYNCHN 2024’ (Synergy in science built through
About Indian Leopard elements of collaboration for high quality data & expertise in NCR
Biotech Cluster).
Habitat Distribution: India, Nepal, Bhutan, and parts of Pakistan,
About BRIC
excluding mangrove forests and deserts.
Characteristics: Nocturnal animal, Skilled climbers, Solitary BRIC has been created as a registered society by Department
predators etc. of Biotechnology (DBT), Ministry of Science and Technology by
subsuming various Autonomous Institutions.
Status of Leopard in India (2022)
Leopard population is estimated at 13,874. It integrates multi-disciplinary research, training, and innovation
programs.
Top 3 states having largest population of leopards are Madhya
Pradesh, Maharashtra, and Karnataka. BRIC-THSTI acts as a catalyst to translate fundamental
discoveries by building rigorous clinical research capacity.
Protection Status:
IUCN- Vulnerable THSTI is housed within the NCR Biotech Science Cluster in
Wildlife Protection Act 1972: Schedule 1 Faridabad.
Threats: Habitat loss, fragmentation, human-wildlife conflict,
poaching, and illegal trade.

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 Article 341 Hydrogen-Fuel Cells

Supreme Court stated that the State Can't Alter the Schedule Caste MV Sea Change, world’s first commercial passenger ferry powered
(SC) List Published Under Article 341. by 100% zero-emission hydrogen fuel cells was launched in San
The Court struck down Bihar govt resolution to merge Francisco.
Economically Backward Class Community in SC List. It can travel about 300 nautical miles and operate for 16 hours
before needing to refuel.
About Article 341
About Hydrogen Fuel Cells (HFC)
President can officially designate certain groups as Scheduled
Castes for specific States or Union Territories. It produces electricity by combining oxygen and hydrogen in an
electrochemical reaction.
For States, this is done after consulting the Governor. The
designation may include entire castes, races, tribes, or HFC vehicles are completely free from tailpipe pollutant
subgroups within these categories. emissions, including particulates, oxides of nitrogen, carbon
monoxide, and carbon dioxide.
Parliament may by law include in or exclude from the list of
Scheduled Castes.
Tizu and Zungki River
Uniform GST on Aircraft Parts
Inland Waterways Authority of India and Transport Department of
Government of Nagaland to conduct detailed feasibility study for
The Ministry of Civil Aviation has announced the development of Tizu and Zungki River (National Waterways 101).
implementation of a uniform Integrated Goods and Services Tax
About Tizu and Zungki River
(IGST) rate of 5% on all aircraft and aircraft engine parts.
Tizu originates near Longkhim, Tuensang district, of Nagaland
Significance
and falls into Chinwin River (one of the largest Tributary of river
Boost domestic Maintenance, Repair, and Overhaul (MRO) Irrawaddy river), also known as Ningthi river in Myanmar.
industry
Main tributaries of Tizu River are river Zungki, Lanye and
Help in making India Global Aviation Hub Likimro.
Simplifies tax structure Zungki is biggest tributary of Tizu in Nagaland.
Reduce operational costs, resolve tax credit issues and attract
investment.
Electroencephalography (EEG)
Pheromone Traps
2024 marks the 100th year of electroencephalography(EEG)

A pilot project by Central Institute for Cotton Research (CICR) - About EEG
Indian Council of Agricultural Research (ICAR) deploys AI powered It is a medical test which measures brain electrical activity
Pheromone traps, to protect cotton crops from Pink Bollworm pest generated by neurons.
infestation.
It uses small, metal discs called electrodes that attach to the
About Pheromone Traps
scalp.
They uses chemical signals (pheromones) emitted by female
Brain cells communicate via electrical impulses, and this activity
moth to attract mate (hence catches only males of that species).
shows up as wavy lines on an EEG recording.
Traps can be used to monitor target pests in agriculture or in
Uses: Detecting epilepsy, neurological disorders, or any other
residential areas.
brain related tumors, damage, etc.
By constantly monitoring for insects, it may be possible to detect
an infestation before it occurs.

Personality in News Maharishi Sushruta (c. 7th or 6th century BCE)

All-India Institute of Ayurveda (AIIA) organized the Second National Seminar SAUSHRUTAM Shalya
Sangoshti on the occasion of Sushruta Jayanti-2024 (15th July).
Ancient physician from Kashi (Varanasi) known as the Father of Indian Medicine and Father of Surgery.
Key Contributions:
Author of Sushruta Samhita (written in Sanskrit), one of the Great Trilogy of Ayurvedic Medicine (Others
being Charaka Samhita by Maharishi Charak and Astanga Hridaya by Vagabhata).
Covers extensively about pathology, anatomy, and surgical management, along with treatment of 12
varieties of fracture, 6 types of dislocation, skin grafting, rhinoplasty (technique used to reconstruct
nose), etc.
Values: Courage, hard work, composure, proficiency, dedication.

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