News in Shorts: 10 April 2025

Devgiri Fort in Maharashtra

Context: Recently, a major fire erupted at the historic Devgiri Fort in Maharashtra’s Chhatrapati Sambhajinagar district. 

About Devgiri Fort

• It is a historic (14th-century)  fortified citadel located in Daulatabad village.
• known as:  Daulatabad Fort
  • In 1327, Muhammad bin Tughluq renamed it “Daulatabad,” meaning “Abode of Wealth,“. 
    • He then shifted his capital from Delhi to this location and forcibly relocated much of Delhi’s population. 
• It is a UNESCO-nominated heritage site.
• Built by: Bhillama V of the Yadava dynasty in 1187 CE.
  • This historic fort served as the capital of the Yadava dynasty between the 9th and 14th centuries.
  • In 1308, it was annexed by Alauddin Khalji of the Delhi Sultanate, who raided it in 1296.
• Other Important Capitals:
  • Delhi Sultanate under Muhammad bin Tughluq (1327–1334).
  • Ahmadnagar Sultanate (1499–1636).
• Fort Features
  • Strategic Design:
    • Built on a conical hill (200 meters high) with steep, 50-meter vertical sides to deter enemies.
  • Chand Minar: It is a 63-meter-high tower built by the Bahmani Sultan Hasan Gangu in the 14th century, inspired by Delhi’s Qutb Minar.

Transshipment Facility

Context: India has withdrawn the transshipment facility it had extended to Bangladesh.

What is Transshipment?

• It means allowing goods from one country to pass through another country to reach a third country.
• India allowed Bangladeshi goods to pass through its ports and airports to reach countries like Nepal, Bhutan, and Myanmar.
• Reason for withdrawal
• • Indian ports and airports were facing heavy congestion due to Bangladeshi cargo.
    • There were delays and increased costs, which were affecting India’s own exports.
  • One of the potential reasons for India’s withdrawal of the transshipment facility could be Bangladesh’s increasing engagement with China under Mohd. Yunus’ regime.

Impact on Bangladesh’s trade after withdrawal

• Disruption of Bangladesh’s exports: The shift in the policy can disrupt Bangladesh export to third countries especially the RMG (textile) industry. 
  • The RMG (textile) industry relies on low cost and fast shipping. 
• Complexities: This decision will lead to the rise in the shipping cost and complicate trade routes.

RBI Proposes Overhaul of Co-Lending Guidelines

Context: RBI has proposed  a revamp of its co-lending guidelines to include all regulated entities and loan categories, signaling a significant shift in India’s credit distribution model

• The new framework aims to  go beyond the current limitations that restrict it to priority sector lending (PSL).

Current Framework

• At present, the co-lending model is confined to partnerships between banks and non-banking financial companies (NBFCs). 
• These partnerships are allowed only for PSL segments such as agriculture, micro-enterprises, and weaker sections of society.
• While this model was intended to enhance financial inclusion, its narrow focus has limited its utility across the broader lending landscape.

Proposed Changes

• Under the proposed changes, the RBI intends to:
  • Allow all REs, not just banks and NBFCs, to participate in co-lending.
  • Include all categories of loans, expanding beyond PSL to cover segments like housing, education, MSMEs, and consumer finance.
  • Issue detailed guidelines in the coming months, according to RBI Governor Sanjay Malhotra.
• This inclusive approach is expected to improve credit flow, enhance risk-sharing mechanisms, and encourage innovation in credit delivery.

Co-lending

• Co-lending is a lending arrangement where two or more financial institutions jointly lend to a borrower. 
• Typically, it involves a bank and a non-banking financial company (NBFC) partnering to provide loans.

Panchayat Advancement Index (PAI)

Context: Recently, the Ministry of Panchayati Raj has launched the Panchayat Advancement Index (PAI). 

About the Panchayat Advancement Index

• The PAI is a composite, multi-domain index that evaluates Gram Panchayats based on their performance across nine themes aligned with Localized Sustainable Development Goals (LSDGs). 
• This first-of-its-kind initiative provides a data-driven framework to assess and advance the development of over 2.5 lakh Gram Panchayats (GPs) across India.
• These themes encapsulate the key aspects of rural well-being, including:
  • Poverty-Free and Enhanced Livelihoods
  • Healthy Panchayat
  • Child-Friendly Panchayat
  • Water-Sufficient Panchayat
  • Clean and Green Panchayat
  • Self-Sufficient Infrastructure
  • Social Justice and Social Security
  • Good Governance
  • Women-Friendly Panchayat
• Structure of the Index: PAI is based on 435 unique local indicators (331 mandatory and 104 optional), comprising 566 data points. 
  • These indicators align with the National Indicator Framework (NIF) of the Ministry of Statistics and Programme Implementation (MoSPI), ensuring standardized data measurement across states.

Performance Categories

• Based on their PAI scores, Panchayats are classified into five categories:
  • Achiever: Score of 90 and above
  • Front Runner: Score of 75 to below 90
  • Performer: Score of 60 to below 75
  • Aspirant: Score of 40 to below 60
  • Beginner: Score below 40

State-wise Performance

• While no inter-state comparison has been made yet, several states emerged as leaders:
  • Gujarat: 346 Front Runners, 13,781 Performers
  • Telangana: 270 Front Runners, 10,099 Performers
  • Maharashtra: 12,242 Performers
  • Madhya Pradesh: 7,912 Performers
  • Uttar Pradesh: 6,593 Performers
• States like Bihar, Chhattisgarh, and Andhra Pradesh have a high proportion of Aspirant Panchayats, indicating the need for targeted development efforts.

India Seals Deal for 26 Rafale-M Fighter Jets from France

Context: India has approved a major defence acquisition deal with France for 26 Rafale-M (Marine) fighter jets. 

• The ₹63,000-crore ($7 billion) agreement was cleared by the Cabinet Committee on Security (CCS) on April 9, 2025.
• The deal includes 22 single-seater Rafale-M jets capable of operating from aircraft carriers and four twin-seater trainer variants, which are not carrier-compatible.
• This is India’s second major Rafale purchase. 
  • The Indian Air Force already operates 36 Rafale jets, procured under a ₹60,000-crore agreement signed in 2016.

About the Rafale-M

• The Rafale-M (Rafale Marine) is the naval variant of the French-made Rafale fighter jet. 
• It is developed by Dassault Aviation. 
• Designed for carrier-based operations, the Rafale-M offers a powerful blend of agility, technology, and firepower suited for maritime combat environments.
• The Rafale-M jets are intended to enhance the combat capabilities of India’s two aircraft carriers: 
  • INS Vikramaditya, acquired from Russia, and the indigenously developed INS Vikrant, commissioned in 2022.

President of India’s Visit to Slovakia

Context: The President of India reached Bratislava (Capital of Slovakia) on the final leg of her State Visit to Portugal and the Slovak Republic.

• This is the first-ever visit by an Indian President to the Slovak Republic in 29 years.

About Slovakia

• Location: Landlocked nation situated in Central Europe, serving as a geographical link between Eastern and Western Europe.
• Bordering countries: It shares its borders with Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest.
• Topography: The landscape is largely shaped by the Western Carpathian Mountains, including the scenic Tatra Mountains.
• Highest peak: Gerlachovský Peak, located in the High Tatras, is the country’s highest mountain.
• Rivers: The Danube is the principal river draining the country. 
• Historical background: Part of the former Czechoslovakia until their peaceful separation, known as the “Velvet Divorce,” in January 1993.
• International affiliations: Slovakia is a member of the European Union, NATO, the Schengen Zone, and the OECD.