{"id":7109,"date":"2025-12-19T14:44:30","date_gmt":"2025-12-19T14:44:30","guid":{"rendered":"https:\/\/mehnatt.com\/?p=7109"},"modified":"2025-12-19T14:44:30","modified_gmt":"2025-12-19T14:44:30","slug":"short-notes-on-current-affairs-17-12-2025","status":"publish","type":"post","link":"https:\/\/mehnatt.com\/?p=7109","title":{"rendered":"Short notes on Current Affairs 17.12.2025"},"content":{"rendered":"\n<h3 class=\"wp-block-heading has-text-align-center has-ast-global-color-6-background-color has-background\">Ashwagandha (<em>Withania somnifera<\/em>)<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Central Focus<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Ashwagandha (<em>Withania somnifera<\/em>), a key Rasayana herb in Ayurveda, was highlighted as a model traditional medicine with growing global relevance.<\/li>\n\n\n\n<li style=\"font-size:17px\">The event reinforced India\u2019s leadership in promoting traditional medicine through scientific and evidence-based global engagement.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Event Context<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The session was held as a high-level international side event during the <strong>2nd WHO Global Traditional Medicine Summit, 2025<\/strong>.<\/li>\n\n\n\n<li style=\"font-size:17px\">Venue: <strong>Bharat Mandapam, New Delhi<\/strong>.<\/li>\n\n\n\n<li style=\"font-size:17px\">Organised jointly by the WHO Global Traditional Medicine Centre (WHO-GTMC) and the Ministry of Ayush, Government of India.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Session Theme<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Title: <em>\u201cAshwagandha: From Traditional Wisdom to Global Impact \u2013 Perspectives from Leading Global Experts.\u201d<\/em><\/li>\n\n\n\n<li style=\"font-size:17px\">Aim: To examine Ashwagandha\u2019s transition from traditional use to evidence-based global acceptance.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Participants<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Attended by international experts, researchers, regulators, policymakers, and representatives of global institutions.<\/li>\n\n\n\n<li style=\"font-size:17px\">Moderated by <strong>Dr. J.B. Gupta<\/strong>, Secretary, World Ashwagandha Council.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Scientific and Therapeutic Focus<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Discussions highlighted Ashwagandha\u2019s:\n<ul class=\"wp-block-list\">\n<li>Adaptogenic properties<\/li>\n\n\n\n<li>Neuroprotective potential<\/li>\n\n\n\n<li>Immunomodulatory effects<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Emphasis on validating traditional claims through modern science.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Key Discussion Themes<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Importance of:\n<ul class=\"wp-block-list\">\n<li>Rigorous preclinical and clinical research<\/li>\n\n\n\n<li>Safety assessment and pharmacovigilance<\/li>\n\n\n\n<li>Standardisation of raw materials and formulations<\/li>\n\n\n\n<li>Reproducibility of efficacy and quality assurance<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Bridging traditional knowledge systems with contemporary biomedical research.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Key Expert Contributions<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\"><strong>Dr. Roy Upton (American Herbal Pharmacopoeia)<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Addressed global standards for identity, quality testing, and therapeutic use.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\"><strong>Ms. Mari Lyyra (Medfiles Ltd, Finland)<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Provided insights into Europe\u2019s regulatory frameworks and increasing acceptance of Ashwagandha.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\"><strong>Dr. Ikhlas Khan (University of Mississippi)<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Stressed methodological rigor and evidence generation for regulatory credibility.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\"><strong>Dr. Geetha Krishnan (WHO-GTMC)<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Highlighted the need to balance therapeutic promise with safety and precaution.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Panel Discussion Outcomes<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Active dialogue on:\n<ul class=\"wp-block-list\">\n<li>Harmonisation of international standards<\/li>\n\n\n\n<li>Regulatory alignment across regions<\/li>\n\n\n\n<li>Collaborative research models<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Recognition of the need for global cooperation to advance responsible use.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Consensus and Way Forward<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Agreement on positioning Ashwagandha within mainstream healthcare systems.<\/li>\n\n\n\n<li style=\"font-size:17px\">Commitment to preserving traditional wisdom while ensuring scientific validation.<\/li>\n\n\n\n<li style=\"font-size:17px\">Call for sustained international collaboration and evidence-based integration.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Broader Significance<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The session reflected a growing global movement to integrate traditional, complementary, and integrative medicine into modern healthcare.<\/li>\n\n\n\n<li style=\"font-size:17px\">Aligned with WHO\u2019s objectives of ensuring safety, quality, efficacy, and sustainability in traditional medicine practices.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Role of the WHO Global Traditional Medicine Summit<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Serves as a global platform for policy dialogue, cooperation, and alignment.<\/li>\n\n\n\n<li style=\"font-size:17px\">Emphasises evidence-based approaches to traditional medicine at the international level.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-ast-global-color-6-background-color has-background\">RESPOND Basket 2025<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Release of RESPOND Basket 2025<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The Indian Space Research Organisation (ISRO) released the <strong>RESPOND Basket 2025<\/strong>, a curated set of research problem statements.<\/li>\n\n\n\n<li style=\"font-size:17px\">The basket is aligned with ISRO\u2019s current and future mission requirements and national space priorities.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Official Launch Event<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The release was announced by ISRO Chairperson Dr. V. Narayanan.<\/li>\n\n\n\n<li style=\"font-size:17px\">It took place during the inauguration of the ISRO\u2013Academia Day, highlighting the organisation\u2019s focus on academic collaboration.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Emphasis on Academia\u2013ISRO Collaboration<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Dr. Narayanan stressed the critical role of academia in:\n<ul class=\"wp-block-list\">\n<li>Generating innovative ideas<\/li>\n\n\n\n<li>Conducting advanced and cutting-edge research<\/li>\n\n\n\n<li>Supplying skilled human resources for India\u2019s expanding space programme<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">He highlighted the <strong>RESPOND programme<\/strong> as an effective mechanism for addressing complex technological challenges through <strong>collaborative research<\/strong>.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Technical Engagement with Academic Participants<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">ISRO scientists delivered detailed technical presentations on the research topics included in the RESPOND Basket 2025.<\/li>\n\n\n\n<li style=\"font-size:17px\">These sessions provided academia with:\n<ul class=\"wp-block-list\">\n<li>Clear understanding of mission-driven research needs<\/li>\n\n\n\n<li>Expected outcomes and deliverables<\/li>\n\n\n\n<li>Potential areas for meaningful collaboration with ISRO<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Nature and Purpose of the RESPOND Basket<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The RESPOND Basket contains the most urgent and strategically important research problems.<\/li>\n\n\n\n<li style=\"font-size:17px\">These problems are identified by ISRO and Department of Space centres\/units.<\/li>\n\n\n\n<li style=\"font-size:17px\">Selection is based on upcoming programmatic R&amp;D requirements of ISRO missions.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Call for Research Proposals<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The RESPOND Basket 2025 invites research proposals from:\n<ul class=\"wp-block-list\">\n<li>Premier universities<\/li>\n\n\n\n<li>Recognised academic institutions<\/li>\n\n\n\n<li>R&amp;D organisations<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Proposals must align with ISRO\u2019s upcoming missions and national priorities.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Submission Timeline<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The deadline for submission of research proposals under RESPOND Basket 2025 is January 31, 2026.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-ast-global-color-6-background-color has-background\">Highest Butterfly Diversity<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Record Butterfly Diversity in Kerala<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Kerala hosts the highest butterfly diversity among Indian States in the Western Ghats.<\/li>\n\n\n\n<li style=\"font-size:17px\">A total of <strong>328 butterfly species<\/strong> have been documented in the State.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Source and Publication<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Findings are published in a monograph titled \u201cThe Butterflies (Lepidoptera, Rhopalocera) of Kerala: Status and Distribution.\u201d<\/li>\n\n\n\n<li style=\"font-size:17px\">The monograph appears in <strong>ENTOMON<\/strong>, an open-access quarterly journal published by the Association for Advancement of Entomology.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Western Ghats Context<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The entire Western Ghats support 337 butterfly species, meaning Kerala accounts for nearly the entire regional butterfly diversity.<\/li>\n\n\n\n<li style=\"font-size:17px\">41 species recorded in Kerala are endemic to the Western Ghats, highlighting the State\u2019s ecological importance.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Taxonomic Composition<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Kerala\u2019s butterfly fauna spans <strong>six families<\/strong>:\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\"><strong>Nymphalidae<\/strong> \u2013 97 species (highest)<\/li>\n\n\n\n<li style=\"font-size:17px\"><strong>Lycaenidae<\/strong> \u2013 96 species<\/li>\n\n\n\n<li style=\"font-size:17px\"><strong>Hesperiidae<\/strong> \u2013 82 species<\/li>\n\n\n\n<li style=\"font-size:17px\">Followed by Papilionidae, Pieridae, and Riodinidae<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Migratory Species<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The study documents 36 migratory butterfly species.<\/li>\n\n\n\n<li style=\"font-size:17px\">This underscores Kerala\u2019s role as a key corridor for seasonal butterfly migration in the Western Ghats.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Conservation Status<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">22 butterfly species recorded from Kerala are included in the IUCN Red List.\n<ul class=\"wp-block-list\">\n<li>Most are classified as Least Concern<\/li>\n\n\n\n<li>Two species are listed as Near Threatened<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">70 species are protected under the Wildlife (Protection) Act, 1972.\n<ul class=\"wp-block-list\">\n<li>Only four species receive the highest level of protection under Schedule I.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Larval Host Plant Documentation<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">A major contribution of the monograph is a comprehensive larval host plant checklist.<\/li>\n\n\n\n<li style=\"font-size:17px\">It includes:\n<ul class=\"wp-block-list\">\n<li>Over 1,800 feeding records<\/li>\n\n\n\n<li>More than 350 new field observations<\/li>\n\n\n\n<li>Coverage of nearly 800 plant species<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">This is one of the largest region-specific host plant compilations for butterflies in India.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Overall Significance<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The study provides a critical baseline for biodiversity assessment, conservation planning, and ecological research in the Western Ghats.<\/li>\n\n\n\n<li style=\"font-size:17px\">It reinforces Kerala\u2019s status as a <strong>butterfly biodiversity hotspot<\/strong> of national and global importance.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-ast-global-color-6-background-color has-background\">Viksit Bharat Shiksha Adhishthan (VBSA) Bill, 2025<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Context and Policy Background<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The Union government has proposed the Viksit Bharat Shiksha Adhishthan (VBSA) Bill, 2025 to overhaul India\u2019s higher education regulatory framework.<\/li>\n\n\n\n<li style=\"font-size:17px\">The move is aligned with the National Education Policy (NEP), 2020, particularly its recommendation to minimise conflicts of interest in higher education governance.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Separation of Powers<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The Bill removes grant-disbursal powers from the regulatory authority, a role currently performed by the University Grants Commission (UGC).<\/li>\n\n\n\n<li style=\"font-size:17px\">It creates <strong>separate councils<\/strong> for:\n<ul class=\"wp-block-list\">\n<li>Regulation<\/li>\n\n\n\n<li>Accreditation<\/li>\n\n\n\n<li>Standards-setting<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">This segregation is described by the government as a \u201cconscious decision\u201d to ensure functional independence and transparency.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">New Institutional Architecture<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The VBSA Bill proposes replacing existing bodies:\n<ul class=\"wp-block-list\">\n<li>UGC<\/li>\n\n\n\n<li>All India Council for Technical Education (AICTE)<\/li>\n\n\n\n<li>National Council for Teacher Education (NCTE)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">These will be replaced by a <strong>single apex commission \u2014 VBSA<\/strong>, which will coordinate the three autonomous councils.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Grant Disbursal Mechanism<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Under the proposed law, grant disbursal to Central universities will be handled by the Ministry of Education, not the regulatory authority.<\/li>\n\n\n\n<li style=\"font-size:17px\">Officials stated that:\n<ul class=\"wp-block-list\">\n<li>The new funding mechanism will be \u201csimilar to or better than\u201d existing systems.<\/li>\n\n\n\n<li>Regulatory compliance and institutional performance will remain major factors in determining funding.<\/li>\n\n\n\n<li>Funding decisions will adopt a \u201cholistic view\u201d, not based solely on compliance metrics.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Rationale for Ministry-Controlled Funding<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Although NEP 2020 suggested a separate grants council, the government said this was not feasible due to:\n<ul class=\"wp-block-list\">\n<li>Multiple funding sources and channels across higher education institutions.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Hence, retaining grant control within the Education Ministry was considered more practical.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Concerns and Opposition<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">A coalition of teachers\u2019 and students\u2019 associations and unions has raised objections.<\/li>\n\n\n\n<li style=\"font-size:17px\">Key concern:\n<ul class=\"wp-block-list\">\n<li>Grant disbursal under direct ministry control could expose funding decisions to political influence.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">The Bill was introduced in the Lok Sabha amid Opposition objections.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Parliamentary Scrutiny<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The government has proposed referring the Bill to a 31-member Joint Parliamentary Committee.<\/li>\n\n\n\n<li style=\"font-size:17px\">Officials expressed willingness to:\n<ul class=\"wp-block-list\">\n<li>Engage in intensive deliberations<\/li>\n\n\n\n<li>Encourage stakeholder suggestions during the committee review process.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Overall Significance<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The VBSA Bill represents a major structural reform of higher education governance in India.<\/li>\n\n\n\n<li style=\"font-size:17px\">It shifts the system from regulator-cum-funder to a functionally separated model, aiming to enhance accountability while raising concerns about autonomy and political oversight.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-ast-global-color-6-background-color has-background\">Insurance Amendment Bill<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Key Legislative Change<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Lok Sabha passed a Bill to increase Foreign Direct Investment (FDI) in the insurance sector from 74% to 100%.<\/li>\n\n\n\n<li style=\"font-size:17px\">The Bill amends three core laws:\n<ul class=\"wp-block-list\">\n<li>Insurance Act, 1938<\/li>\n\n\n\n<li>Life Insurance Corporation (LIC) Act, 1956<\/li>\n\n\n\n<li>Insurance Regulatory and Development Authority of India (IRDAI) Act, 1999<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Government\u2019s Rationale and Objectives<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Attract higher capital inflows to support the long-term capital-intensive insurance sector.<\/li>\n\n\n\n<li style=\"font-size:17px\">Enable global insurance companies to enter India without Indian joint-venture partners, reducing entry barriers.<\/li>\n\n\n\n<li style=\"font-size:17px\">Facilitate access to advanced technology, global best practices, and diversified insurance products.<\/li>\n\n\n\n<li style=\"font-size:17px\">Expand insurance penetration in a largely underinsured Indian market.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Regulatory Safeguards and Assurances<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">All insurers, including 100% foreign-owned entities, will:\n<ul class=\"wp-block-list\">\n<li>Be fully governed by Indian laws<\/li>\n\n\n\n<li>Remain under IRDAI regulation and supervision<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">The government sought to address opposition concerns over foreign control and policyholder safety.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Reinsurance and Risk Capacity Enhancement<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Net owned fund requirement for foreign reinsurance branches (FRBs) reduced:\n<ul class=\"wp-block-list\">\n<li>From \u20b95,000 crore to \u20b91,000 crore<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Intended to:\n<ul class=\"wp-block-list\">\n<li>Encourage more global reinsurers to operate in India<\/li>\n\n\n\n<li>Increase risk-bearing capacity<\/li>\n\n\n\n<li>Create a level playing field between FRBs in the domestic tariff area and those in IFSCs (International Financial Services Centres)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Strengthening Public Sector Insurers<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Government reiterated commitment to public sector insurance companies:\n<ul class=\"wp-block-list\">\n<li>\u20b917,450 crore capital infusion into three public sector general insurers<\/li>\n\n\n\n<li>Listing of LIC, GIC Re, and New India Assurance cited as reforms to improve transparency and governance<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Indicates a dual-track approach: liberalisation alongside public sector strengthening<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Enhanced Regulatory Powers and Compliance<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">IRDAI empowered to:\n<ul class=\"wp-block-list\">\n<li>Disgorge wrongful gains made by insurers and intermediaries<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Penalty framework rationalised:\n<ul class=\"wp-block-list\">\n<li>Maximum penalty for insurance intermediaries increased from \u20b91 crore to \u20b910 crore<\/li>\n\n\n\n<li>Intended to deter violations and encourage regulatory compliance<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Aligns intermediary penalties with those applicable to insurers<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Industry Perspective<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Insurance industry leaders termed the Bill a landmark reform<\/li>\n\n\n\n<li style=\"font-size:17px\">Emphasis on:\n<ul class=\"wp-block-list\">\n<li>Policyholder protection<\/li>\n\n\n\n<li>Transparency<\/li>\n\n\n\n<li>Trust-building in the insurance ecosystem<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Seen as strengthening the regulator\u2019s role and improving market discipline<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Political Context and Concerns<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Bill passed amid opposition protests, reflecting concerns over:\n<ul class=\"wp-block-list\">\n<li>Foreign dominance in a sensitive financial sector<\/li>\n\n\n\n<li>Long-term implications for domestic insurers and employment<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Government countered with assurances on regulation and public sector support<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Overall Assessment<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The Bill marks a major structural reform in India\u2019s insurance sector.<\/li>\n\n\n\n<li style=\"font-size:17px\">Balances market liberalisation with regulatory tightening.<\/li>\n\n\n\n<li style=\"font-size:17px\">Expected to:\n<ul class=\"wp-block-list\">\n<li>Increase competition and innovation<\/li>\n\n\n\n<li>Deepen insurance penetration<\/li>\n\n\n\n<li>Strengthen India\u2019s position as a global insurance and reinsurance hub<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Long-term success will depend on effective regulation, consumer protection, and fair competition.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-ast-global-color-6-background-color has-background\">Round-the-Clock Trading in U.S. Stock Markets<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">Proposed Market Reform<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">U.S. equity markets are moving toward near round-the-clock weekday trading for the first time.<\/li>\n\n\n\n<li style=\"font-size:17px\">Nasdaq has filed with regulators to extend trading to 23 hours a day on weekdays, with a broader market rollout expected next year.<\/li>\n\n\n\n<li style=\"font-size:17px\">Regulators have approved new rules allowing exchanges to extend trading hours.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Drivers Behind the Move<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Rising global demand for access to U.S. capital markets, particularly from investors outside U.S. time zones.<\/li>\n\n\n\n<li style=\"font-size:17px\">Increasing participation by retail investors, who seek the ability to respond immediately to news breaking outside normal U.S. market hours.<\/li>\n\n\n\n<li style=\"font-size:17px\">Competition among exchanges to remain attractive in an increasingly global and digital trading environment.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Role of Market Infrastructure<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">U.S. exchanges, clearing houses, and market infrastructure firms are working to:\n<ul class=\"wp-block-list\">\n<li>Build systems capable of continuous trading<\/li>\n\n\n\n<li>Ensure settlement, clearing, and risk management processes function with minimal downtime<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Implementation requires significant investment across the financial ecosystem.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Banks\u2019 and Brokers\u2019 Concerns<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Several major U.S. banks (e.g., JPMorgan, Bank of America, Morgan Stanley) are cautious or reluctant.<\/li>\n\n\n\n<li style=\"font-size:17px\">Key concerns include:\n<ul class=\"wp-block-list\">\n<li>High technology and operational costs, potentially running into tens of billions of dollars<\/li>\n\n\n\n<li>Uncertainty about return on investment and revenue upside<\/li>\n\n\n\n<li>The need for continuous staffing, risk controls, and system upgrades<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Risk Management and Market Stability Issues<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Banks worry about handling market-moving events during overnight hours.<\/li>\n\n\n\n<li style=\"font-size:17px\">Continuous trading complicates:\n<ul class=\"wp-block-list\">\n<li>Risk monitoring<\/li>\n\n\n\n<li>End-of-day processes<\/li>\n\n\n\n<li>Compliance and supervisory controls<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Regulators and banks stress the need for <strong>robust protections<\/strong> before full-scale rollout.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Liquidity and Market Quality Concerns<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Experts warn that overnight trading is likely to be thinly traded.<\/li>\n\n\n\n<li style=\"font-size:17px\">Potential consequences:\n<ul class=\"wp-block-list\">\n<li>Less accurate price discovery<\/li>\n\n\n\n<li>Wider bid\u2013ask spreads<\/li>\n\n\n\n<li>Higher volatility<\/li>\n\n\n\n<li>Increased transaction costs<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Institutional investors, including <strong>BlackRock<\/strong>, have highlighted these risks.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Institutional vs Retail Demand<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\"><strong>Retail investors<\/strong> and overseas traders are seen as the primary beneficiaries.<\/li>\n\n\n\n<li style=\"font-size:17px\"><strong>Institutional investors<\/strong> show limited enthusiasm:\n<ul class=\"wp-block-list\">\n<li>Many do not see sufficient demand to justify system-wide changes<\/li>\n\n\n\n<li>Large asset managers question whether liquidity will be adequate<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Banks argue institutional participation is essential for deep, stable markets.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Industry Perspectives<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Some analysts view round-the-clock trading as a \u201cnuisance\u201d rather than a revenue driver for banks.<\/li>\n\n\n\n<li style=\"font-size:17px\">Concerns that benefits may accrue mainly to exchanges, while costs fall heavily on banks and brokers.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Broader Implications<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">Could reshape global equity market access by making U.S. markets continuously available.<\/li>\n\n\n\n<li style=\"font-size:17px\">Raises questions about:\n<ul class=\"wp-block-list\">\n<li>Market fairness<\/li>\n\n\n\n<li>Efficiency<\/li>\n\n\n\n<li>Systemic risk<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li style=\"font-size:17px\">Success will depend on:\n<ul class=\"wp-block-list\">\n<li>Sufficient liquidity<\/li>\n\n\n\n<li>Effective risk management<\/li>\n\n\n\n<li>Balanced cost-sharing across market participants<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Overall Assessment<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li style=\"font-size:17px\">The move toward round-the-clock trading reflects the globalisation of U.S. equity markets.<\/li>\n\n\n\n<li style=\"font-size:17px\">While technologically feasible, it faces significant resistance from banks due to cost, risk, and uncertain demand.<\/li>\n\n\n\n<li style=\"font-size:17px\">The reform\u2019s long-term viability will hinge on whether investor participation and liquidity justify the structural overhaul.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Ashwagandha (Withania somnifera) Central Focus Event Context Session Theme Participants Scientific and Therapeutic Focus Key Discussion Themes Key Expert Contributions Panel Discussion Outcomes Consensus and Way Forward Broader Significance Role of the WHO Global Traditional Medicine Summit RESPOND Basket 2025 Release of RESPOND Basket 2025 Official Launch Event Emphasis on Academia\u2013ISRO Collaboration Technical Engagement with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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