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04-July-Facts For Prelims

  1. ‘Tirupati Varaha’
  • It is the product of cross breeding between indigenous pigs and Large White Yorkshire (LWY)
  • It is developed by All India Coordinated Research Project (AICRP), a unit of IndianCouncil of Agricultural Research (ICAR)
  1. Aaykar Setu’
  • FM launched a new desktop service and a corresponding Android-based application ‘Aaykar Setu’ that will allow entities track TDS, pay taxes and apply for permanent account number (PAN). It will also help people link their 12-digit Aadhaar with PAN card.
  • This e-initiative would help in reducing physical interface between assesses and tax assessing authorities and thereby minimising the chances of any tax harassment.
  • This app is in the series of actions taken by the Central Board of Direct Taxes (CBDT) to provide better taxpayer services and reduce grievances.
  • It is also a step by the Income Tax department to directly communicate with the taxpayers on multiple informative and useful tax services aimed at providing tax information at their fingertips.
  • All taxpayers who wish to receive such SMS alerts need to register their mobile numbers in the Aaykar Setu module.
  1. The Central GST (CGST) rate on supply of certain goods, such as chena or paneer, natural honey, wheat, rice and other cereals, pulses, flour of cereals and pulses, other than those put up in unit container and bearing a registered brand name, is NIL. Supply of such goods, when put up in unit container and bearing a registered brand name attracts 2.5% CGST rate.
  • MoF clearly defines “registered brand name” as brand name or trade name, which is registered under the Trade Marks Act, 1999.
  • Trade Marks Act, 1999 provide that a registered trade mark means a trade mark which isactually on the Register of Trade Marks and remaining in force.
  • Unless the brand name or trade name is actually on the Register of Trade Marks and is inforce under the Trade Marks Act, 1999, CGST rate of 5% will not be applicable on the supply of such goods.
  1. Gresham’s law is a monetary principle stating that “bad money drives out good.” In currency valuation, Gresham’s Law states that if a new coin (“bad money”) is assigned the same face value as an older coin containing a higher amount of precious metal (“good money”), then the new coin will be used in circulation while the old coin will be hoarded and will disappear from circulation.
  • We have one-rupee notes and one-rupee coins. Both are forms of legally good money. Yet, the public sometimes prefer one form of a particular denomination to ano-ther, e.g., they may prefer the rupee coin to the paper note.
  • If there is such a preference for one form of money rather than another, it is an example of Gresham’s Law in operation. “bad money(worn out, clipped or underweight coins) tends to drive good money out of cir­culation when both are full legal tender”.
  1. Gomira is a socio religious festival that is celebrated in worship of Chandi and Kali in order to attain devine blessings from the goddess. The festival is celebrated mostly at the end of Bengali year. Gomira is actually an animistic tradition in which the primitive people pay their homage to different Gods in order to attain security. The Gomira dance has extensive use of wooden masks. The artists wear various masks which depicts various incarnations of Kali, Nrisingha and ghosts.


  1. The crisis in Gorkhaland has been brewing for many decades and the stems from language. Gorkhaland consists of Nepali-speaking people of Darjeeling, Kalimpong, Kurseong and other hilly districts. The people belonging to these areas hardly have any connection with the Bengali community and are different in ethnicity, culture and language. In 1780, the Gorkhas captured Sikkim and most part of North Eastern states that includes Darjeeling, Siliguri, Simla, Nainital, Garhwal hills, Kumaon and Sutlej, that is, the entire region from Teesta to Sutlej. After 35 years of rule, the Gorkhas surrendered the territory to British in the Treaty of Segoulee in 1816, after they lost the Anglo-Nepal war.
  • However, though British handed over Darjeeling to Sikkim, it was taken back for political reasons in 1835. Before 1905, when Viceroy of India, Lord Curzon directed the partition of Bengal, Darjeeling was a part of Rajshahi division, which now falls in Bangladesh. For a short period from 1905-1912, it was even a part of Bhagalpur division.
  1. Development as Freedom’ by Amartya Sen

He argues that economic development entails a set of linked freedoms:

  • political freedoms and transparency in relations between people
  • freedom of opportunity, including freedom to access credit; and
  • economic protection from abject poverty, including through income supplements and unemployment relief.

A state of poverty will generally be characterised by lack of at least one freedom (Sen uses the term unfreedom for lack of freedom), including a de facto lack of political rights and choice, vulnerability to coercive relations, and exclusion from economic choices and protections. From this, Sen concludes that real development cannot be reduced to simply increasing basic incomes, nor to rising average per capita incomes. Rather, it requires a package of overlapping mechanisms that progressively enable the exercise of a growing range of freedoms.


  1. Monazite is an important ore for thorium, lanthanum, and cerium.
  2. Duke Memorandum is associated with Sir William Duke, a member of the English Round Table Group and he had formulated a scheme which eventually became the basis of Joint Report of Montague and Chelmsford.


  1. The Khawthlangtuipui also known as the Karnaphuli is a river of Mizoram, northeastern India. It is said to “represent the drainage system of the whole south western part of Mizoram.” The source of the river it at Saitah village in Mamit district. It flows in a southerly direction along the border with Bangladesh.


  1. Gonorrhea, also spelled gonorrhoea, is a sexually transmitted infection (STI) caused by the bacterium Neisseria gonorrhoeae. Gonorrhea is spread through sexual contact with an infected person. It can also spread from a mother to a child during birth


  1. Ottan Thullal is a dance and poetic performance form of Kerala, India.
  2. Bhatiali or bhatiyali is a form of folk music in both Bangladesh and West Bengal, India. Bhatiali is known as river song (or related with river as metaphor) mostly sung by boatmen while going down streams of the river. The word bhatiyali comes from bhata meaning “ebb” or downstream.


  1. Pant-Mirza Agreement Visits by nationals of India and Pakistan to mutually agreed list of religious shrines in each other’s country are facilitated under the ‘Bilateral Protocol on Visits to Religious Shrines’ signed in September 1974.
  • This includes visits to shrines of Hazrat Moinuddin Chishti (Ajmer), Hazrat Nizamuddin Auliya (Delhi), Hazrat Amir Khusro (Delhi), Hazrat Mujaddid Alf Sani (Sirhind Sharif) and Hazrat Khwaja Alauddin Ali Ahmed Sabir (Kalyar Sharif) in India and Shadani Darbar (Hyat Pitafi), Shri Katasraj Dham (Lahore), Gurudwaras of Shri Nankana Sahib (Rawalpindi), Shri Panja Sahib (Rawalpindi) and Shri Dera Sahib (Lahore) in Pakistan.
  • Under the Protocol it is the obligation of the concerned country to make every effort to ensure that the places of worship in the agreed list of shrines under the Protocol are properly maintained and their sanctity preserved. Government of India ensures that these Shrines in India are properly maintained and their sanctity preserved.
  1. Phobos is the innermost and larger of the two natural satellites of Mars, the other being Deimos. Phobos orbits Mars below the synchronous orbit radius, meaning that it moves around Mars faster than Mars itself rotates.


  1. Wholesale and Long-Term Finance (WLTF) banks

The report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, chaired by Dr. Nachiket Mor (‘Nachiket Mor Committee Report’) had envisaged a class of differentiated banks called Wholesale Banks.

  • Extending the committee’s recommendations on Wholesale Banks, the Wholesale and Long-Term Finance (WLTF) banks will focus primarily on lending to infrastructure sector and small, medium & corporate businesses.
  • They will also mobilize liquidity for banks and financial institutions directly originating priority sector assets, through securitization of such assets and actively dealing in them as market makers.
  • They may also act as market-makers in securities such as corporate bonds, credit derivatives, warehouse receipts, and take-out financing etc.
  • These banks will provide refinance to lending institutions and shall be present in capital markets in the form of aggregators.
  • WLTF banks may also offer services related to equity / debt investments, and forex / trade finance to their clients. These services, although similar in nature to the services offered by financial institutions traditionally known as ‘Investment Banks’, would be ancillary to the primary activities of WLTF banks, which is deposits / loan products for wholesale clients and financing of infrastructure sector and core industries.
  • Primary sources of funds for WLTF banks could be a combination of term deposits, debt / equity capital raised from primary market issues or private placement, and term borrowings from banks and other financial institutions.
  • According to the Nachiket Mor Committee Report, since the primary role of the Wholesale Banks is lending and not the provision of retail deposit services, they may be permitted to accept deposits only above a large threshold amount.
  1. Falun Gong

It is a holistic system of coordinated body posture and movement, breathing, and meditation used for health, spirituality, and martial arts training. With roots in Chinese medicine, philosophy, and martial arts, qigong is traditionally viewed as a practice to cultivate and balance qi (chi), translated as “life energy”.

  • It is banned in China.
  • The Falun Dafa Association of India has been campaigning for months to familiarise the challenges faced by the followers in china.
  • The association decided for a peace parade this month, to spread the message of Falun Gong and focus on persecution against practitioners in Beijing.
March 17, 2018

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