UPSC QUIZ 04.06.2024

Explanation:

• India is poised to begin wheat imports after a six-year gap, to replenish depleted reserves and hold down prices that leaped following three years of disappointing crops, sources say, as the approaching end of general elections removes a key hurdle.

India Decided to Resume Wheat Import

Declining Wheat Production

• India's wheat production has declined in the last 3 years due to unfavourable weather conditions, leading to a sharp drop in wheat output.
• The government estimates this year's wheat crop to be 6.25% lower than the previous year's (2023) record production of 112 million metric tons.

Depletion of Wheat Reserves

• As of April 2024, wheat stocks in government warehouses have dropped to 7.5 million tons, the lowest in 16 years, due to the government selling over 10 million tons from its reserves to control domestic prices.

Explanation:

• The 21st edition of the Asia Pacific premier defence meet, the Shangri La Dialogue or the Asian Security Summit, ended in Singapore on 2 June 2024.
• The Shangri La Dialogue was held at the Shangri La Hotel in Singapore from 31 May to 2 June 2024.
• It was attended by over a hundred delegates from Asia Pacific regions and from other parts of the world.
• The Dialogue brings together security practitioners, including defence ministers, senior officials and non-governmental stakeholders, to discuss the most pressing security challenges in the Asia-Pacific, engage in bilateral discussions, and identify fresh approaches.

Explanation:

• Calcutta High Court has struck down reservations provided by the West Bengal government to several communities, including Muslims, under the OBC category.
• The judgment invalidates the reservations provided under the 2012 Act, which included 77 communities in the list of OBCs.
• The court found that religion was made the “sole” basis for granting reservation, which is prohibited under Article 16 of the Constitution and earlier orders of the court.
• Further, the court cited the judgment in Indra Sawhney vs Union of India (1992), which established that the identification of OBC categories for reservation cannot be based on religious affiliation.
• The result of this judgment is that the certificates of persons who were listed under OBCs after 2010 will no longer be valid. The certificates of persons classified as OBCs before 2010 will continue to be valid. This decision is estimated to affect about five lakh persons in the state.

Explanation:

• Central Council for Research in Ayurvedic Sciences (CCRAS) has introduced the Pharma Research

in AyurGyan And Techno Innovation (PRAGATI-2024) initiative to advance the future of Ayurveda.

• The launch event occurred on May 28, 2024, at the India Habitat Centre in New Delhi and was inaugurated by Dr. Vaidya Rajesh Kotecha, Secretary of the Ministry of Ayush.
• This initiative seeks to enhance research and innovation in Ayurveda by promoting collaboration between CCRAS and the Ayurveda drug industry.
• CCRAS aims to engage every stakeholder by offering scholarships, thereby helping students appreciate the importance of research.

Explanation:

• Competition Commission of India (CCI) approved the acquisition of up to approximately 11% shareholding by South Korea Based Shinhan Bank Co., Ltd. in HDFC Credila Financial Services Limited.
• Shinhan Bank is part of the Shinhan Financial Group, which has been operating in India since 1996.
• HDFC Credila is a registered non-deposit taking Non-Banking Financial Company (NBFC) that provides education loans in India and overseas.

Matrix Pharma's Acquisition of Tianish Laboratories

• CCI granted approval for Matrix Pharma Private Limited to acquire 100% stake in Tianish Laboratories Private Limited.
• Mudhra Labs Private Limited, the parent company of Matrix Pharma, will make a partial investment in optionally convertible debentures to support the transaction.
• Kingsman Wealth Fund PCC's investment in Compulsory Convertible Preference Shares (CCPS) of Mudhra Life Sciences, Matrix Pharma's parent company, was also approved by CCI on May 28, 2024.
• The funds from these investments will be utilized by Matrix Pharma for the acquisition of Tianish Laboratories.
• Incorporated in 2023, Tianish Laboratories Private Limited is engaged in the manufacture and sale of active pharmaceutical ingredients in India.