International Conclave on “Insolvency Resolution: Evolution & Global Perspective”

Context: An International Conclave focusing on “Insolvency Resolution: Evolution & Global Perspective” is being organised by The Insolvency and Bankruptcy Board of India (IBBI) in association with INSOL.

• Participants: Stakeholders of the IBC ecosystem like insolvency professionals, legal firms, consulting firms, financial creditors, service providers, professionals, regulators, academia and government officers joined the Conclave.
• Panel Discussions Theme: The Conclave included three panel discussions,
• • First: The session was themed on the topic “Issues, Recent Developments & New Trends in Restructuring & Insolvency Across Jurisdictions“
  • Second: It was themed “Judgment Enforcement, Asset Recovery and Personal Guarantees”.
  • Third: It focused on “Role of Institutional Creditors in Corporate Resolution Across Jurisdictions”.

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About The Insolvency and Bankruptcy Board of India

• Established: The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). 
• Regulator: The IBBI has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities.
• Function: To register insolvency professional agencies, insolvency professionals and information utilities and renew, withdraw, suspend or cancel such registrations.

Udhampur “Kalari” Cheese

Context: Promoting Udhampur’s “Kalari,” a traditional local milk product, was discussed during the DISHA meeting chaired by the Union Minister of State for Science and Technology.

About Udhampur “Kalari”

• Kalari is a type of stretchy cheese and a part of Dogra cuisine with a unique texture and taste.
• Origin: Kalari cheese originated in the Ramnagar area of Udhampur district in Jammu 
  • As per popular legends, Kalari was invented by semi-nomadic tribal pastoralists of J&K (Gujjars) who found the kalari cheese to be a useful way of preserving milk while keeping its protein properties intact 
• GI Tag: Kalari cheese received a Geographical Indication (GI) tag on October 23, 2023.
• Street Food: Kalari is widely consumed as a street snack among the ethnic Dogras. Flattened Kaladis are salted and sautéed in their own fat on a hot griddle. 
• Method of Preparation: Kalaris are made after processing the milk traditionally made from raw full fat milk, vigorously churned in an iron pot with a wooden plunger-like tool. 
  • The molten mass of milk solids was then separated by adding sour milk or curd called mathar.
  • Stretching the cheese
  • Cooling the cheese on the black iron pot
  • Sun-drying the cheese to remove moisture
• Nutrient Profile:  Kalari cheese is nutritious and it is healthy and is rich in iron, carbohydrates, fat, Vitamins, Phosphorus, Zinc, Magnesium, Potassium and Calcium

Anti-Drone Unit

Context: Union Home Minister announced the establishment of a comprehensive anti-drone unit to address emerging threats from drones.

Additional Measures

• Comprehensive Integrated Border Management System (CIBMS):
  • Pilot tested in Dhubri, Assam, and planned for wider rollout along borders with Pakistan and Bangladesh.
• Strengthening Infrastructure:
  • Enhanced border fencing, road construction, and other border infrastructure projects to secure sensitive areas.

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About Anti-Drone Unit

• It  is a sophisticated security system. 
• Developed by: Collaboration with border security forces, the Ministry of Defence, DRDO, and other research departments.
• Technology: Laser-equipped anti-drone gun mount system
• Purpose: To protect the country from threats posed by drones
• The system’s success rate for intercepting drones along the International Border in Punjab improved from 3% earlier to 55%.

Sathanur Dam

Context: Recently,  the sudden release of 1.8 lakh cusecs of water from Sathanur Dam caused severe flooding along the Thenpennai river in Tiruvannamalai, Villupuram, and Cuddalore districts, Tamil nadu.

About Sathanur Dam

• It is a significant reservoir in Tamil Nadu.
• The project was initiated during India’s First Five-Year Plan in 1953.
• Location: Thandarampet Taluk, Tiruvannamalai District, Tamil Nadu.
• River: Built across the Thenpennai River (Pennaiyar River) in the Chennakesava Hills.
• Significance: The third-largest dam in Tamil Nadu after Mettur and Bhavanisagar dams.

Features

• Type: Gravity dam.
• Specifications:
• • The reservoir serves irrigation and water supply needs for the surrounding regions.

About Pennaiyar River

• Origin: Nandi Hills in the Chikkaballapura district of Karnataka. 
• Tributaries: Markandeyanadhi, Kambainallur, and Pambar rivers.
• States from which it flows:  It enters Tamil Nadu after originating in Karnataka.
• • Finally, the river flows into the Bay of Bengal.

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World’s largest grain storage plan

Context: The National Level Coordination Committee (NLCC) for the World’s largest grain storage plan held its maiden meeting in the Ministry of Cooperation, New Delhi recently.

About World’s Largest Grain Storage Plan in Cooperative Sector

• Objective:
  • Establish decentralized grain storage facilities at the Primary Agricultural Credit Societies (PACS) level.
  • Develop additional agricultural infrastructure like warehouses and processing units.
• Pilot Project Highlights:
  • Construction of Godowns: 11 godowns completed in 11 PACS across 11 states.
    • Total storage capacity: 9,750 MT.
    • States: Maharashtra, Uttar Pradesh, Tamil Nadu, Karnataka, Gujarat, Madhya Pradesh, Uttarakhand, Assam, Telangana, Tripura, and Rajasthan.
  • Expansion: Over 500 additional PACS identified for construction as of November 2024.
  • Implementing Agencies: Implemented by National Cooperative Development Corporation (NCDC) with the support of NABARD, Food Corporation of India (FCI), Central Warehousing Corporation (CWC), NABARD Consultancy Services (NABCONS) in coordination with States/ UTs concerned.
• Financial Incentives for PACS:
  • Agriculture Infrastructure Fund (AIF):
    • 3% interest subvention for projects up to ₹2 crore.
    • Loan repayment period: 2+5 years.
  • Agricultural Marketing Infrastructure Scheme (AMI):
    • 33.33% subsidy for storage unit construction.
    • Margin money requirement reduced from 20% to 10%.
    • Additional subsidy for ancillaries (e.g., boundary walls, drainage) capped at 1/3rd of total permissible subsidy or actual cost.

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