Inauguration Of M-PACS

Context: Recently,10,000 newly established  Multipurpose Primary Agricultural Credit Societies (MPACS) was inaugurated along with Dairy and Fisheries Cooperative Societies, in New Delhi.

About Primary Agricultural Credit Societies (PACS)

• PACS is an association of borrowers and non-borrowers living in a particular area.
• It serves as the grassroots-level unit in the cooperative credit structure.
• Funds are sourced from members’ share capital, deposits, and loans from central cooperative banks.
• PACS acts as a link between borrowers in villages and higher financial institutions like the central cooperative bank, state cooperative bank, and RBI.
• Historical Background: The first PACS was established in 1904.
• Regulation of PACS
  • State Government: Regulates administrative aspects under the Cooperative Societies Act.
  • RBI: Oversees financial regulation under the Banking Regulation Act, 1949 and Banking Laws (Cooperative Societies) Act, 1965.
  • NABARD: Functions as the nodal refinancing agency for PACS and other cooperative banks.

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Bhartiya Beej Sahkari Samiti Limited (BBSSL)

Context: Recently, the Union Minister of Cooperation chaired a review meeting of Bhartiya Beej Sahkari Samiti Limited (BBSSL) in New Delhi.

About Bhartiya Beej Sahkari Samiti Limited (BBSSL)

• The Bhartiya Beej Sahkari Samiti Limited (BBSSL) is a multi-state cooperative society.
• promoted by:  IFFCO, KRIBHCO, NAFED, National Dairy Development Board (NDDB) and NCDC.
• Established by: The Ministry of Cooperation under the Multi-State Cooperative Societies (MSCS) Act, 2002. 
• Objective: To enhance India’s agricultural productivity by focusing on the production, preservation, and promotion of high-quality seeds.
• Importance of BBSSL
  • Reduces dependence on imported seeds by boosting domestic seed production.
  • Enhances agricultural output, contributing to “Make in India” and Atmanirbhar Bharat initiatives.
  • Strengthens the rural economy by empowering farmers and cooperatives.

Lesotho (Places in News)

Context: India sent a humanitarian aid consignment to Lesotho including 1000 metric tonnes of rice.

About Lesotho

• It is formally known as the Kingdom of Lesotho.
  • Formerly known as Basutoland.
• It is in the Southern and Eastern Hemispheres of the Earth.
• It is a Landlocked country in Southern Africa, surrounded by South Africa.
• Capital:  Maseru 
• Nickname: “The Mountain Kingdom” or “The Kingdom in the Sky”.

Other important points  

• Highest Peak : Thabana Ntlenyana
• • It is part of the Maluti and Drakensberg mountain ranges
• Major River : The Senqu River, also known as the Orange River in South Africa
  • It originates in the highlands of the Drakensberg Mountains and flows through the country before joining the Orange River in south Africa.

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Rooppur nuclear power project

Context: There is a dispute going on between Rosatom and the Bangladesh Anti-Graft Commission over the Rooppur nuclear power project. 

About Rooppur nuclear power project

• It  is Bangladesh’s first nuclear power plant located on the bank of the river Padma.
• It is being supported by the International Atomic Energy Agency.
• The Rooppur project is the first collaboration under an Indo-Russian agreement for nuclear projects in third countries.
• Role of India
  • Nuclear Power Corporation of India (NPCIL): It  is the lead agency representing India in the project.
  • Indirect Involvement: Since India is not a member of the Nuclear Suppliers Group (NSG), it cannot directly construct nuclear reactors.
  • Civil Nuclear Agreements : India has signed civil nuclear cooperation agreements with 14 countries, including:
    • Major Nations: USA, France, Russia, and Canada.
    • Regional Partners: Sri Lanka, Bangladesh, and Kazakhstan.
    • Other Key Countries: Argentina, Australia, South Korea, Japan, UK, Vietnam, and the Czech Republic.

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