{"id":3302,"date":"2025-11-27T08:00:10","date_gmt":"2025-11-27T08:00:10","guid":{"rendered":"https:\/\/arkreflectionsias.com\/studentportal\/?p=3302"},"modified":"2025-12-01T04:48:33","modified_gmt":"2025-12-01T04:48:33","slug":"current-affairs-27th-november-2025","status":"publish","type":"post","link":"https:\/\/arkreflectionsias.com\/studentportal\/2025\/11\/27\/current-affairs-27th-november-2025\/","title":{"rendered":"Current Affairs 27th November 2025"},"content":{"rendered":"<h2><strong><u>1. CJI says court will consider plea seeking to revive NJAC ,end the collegium system<\/u><\/strong><\/h2>\n<p>GS paper II-polity<\/p>\n<p><strong>Context: <\/strong>Advocate Mathews J. Nedumpara has filed a petition asking the Supreme Court to revive the NJAC and declare the 2015 judgment (which struck it down) void ab initio.\u200b<\/p>\n<ul>\n<li>During an oral mentioning of this petition, CJI Surya Kant stated that the Court would consider the request to hear the matter, putting the NJAC\u2013Collegium debate back in focus.\u200b<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What is the Collegium system?<\/strong><\/p>\n<ul>\n<li>It is a judge\u2011made system under which appointments and transfers of judges to the Supreme Court and High Courts are decided by a Collegium of senior judges, not by the executive.\u200b<\/li>\n<li>The Supreme Court Collegium consists of the CJI and the four senior\u2011most SC judges; the High Court Collegium consists of the Chief Justice of the High Court and its two senior\u2011most judges.\u200b<\/li>\n<li>The government can seek reconsideration, but if the Collegium reiterates a name, the executive is constitutionally bound to accept it, giving the judiciary primacy in appointments.\u200b<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What was the NJAC?<\/strong><\/p>\n<ul>\n<li>The National Judicial Appointments Commission (NJAC) was a constitutional body created by the 99th Constitutional Amendment Act, 2014 and the NJAC Act, 2014 to replace the Collegium system.\u200b<\/li>\n<li>It proposed a six\u2011member body: CJI, two senior\u2011most SC judges, Union Law Minister, and two \u201ceminent persons,\u201d giving the government and civil society a role alongside the judiciary.\u200b<\/li>\n<li>In 2015, a Constitution Bench of the Supreme Court struck down both the 99th Amendment and the NJAC Act as unconstitutional, holding that they violated judicial independence and thus the basic structure.\u200b<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What does the new plea argue?<\/strong><\/p>\n<ul>\n<li>The plea calls the 2015 NJAC judgment a \u201cgreat wrong\u201d as it allegedly substituted \u201cthe will of the people\u201d (expressed through Parliament\u2019s constitutional amendment) with the opinion of \u201cfour judges.\u201d\u200b<\/li>\n<li>It terms the Collegium a \u201csynonym for nepotism and favouritism\u201d and claims judicial appointments have become a \u201cmystery\u201d lacking transparency.\u200b<\/li>\n<li>The petition seeks that the 2015 verdict be declared void ab initio, thereby reviving the NJAC and restoring Parliament\u2019s scheme of shared appointment power.\u200b<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why is this significant?<\/strong><\/p>\n<ul>\n<li>It directly reopens the basic\u2011structure debate on whether Parliament\u2019s 99th Amendment can be judicially overruled in matters of appointments and who should have primacy: judiciary or Parliament\/executive.\u200b<\/li>\n<li>If the Court agrees even to reconsider the 2015 decision, it could potentially transform the institutional balance between the three organs and reshape the architecture of judicial independence in India.\u200b<\/li>\n<li>The issue is also politically sensitive and central to long\u2011standing critiques of the Collegium regarding opacity, representation, and alleged \u201cuncle\u2011judge\u201d culture.\u200b<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why do the CJI\u2019s oral remarks matter?<\/strong><\/p>\n<ul>\n<li>The CJI\u2019s statement that the Court will \u201cconsider\u201d listing the case signals an openness to at least hear a challenge to a recent Constitution Bench verdict, which is rare and therefore newsworthy.\u200b<\/li>\n<li>As the CJI controls the roster and constitution of benches, such an oral remark increases the likelihood that a Bench may actually be formed to examine the plea, giving it institutional traction beyond a routine petition.\u200b<\/li>\n<li>Coming on Constitution Day and in the context of ongoing debates on judicial transparency, the remark gives fresh momentum to public and academic discussion on reforming the appointments system.\u200b<\/li>\n<\/ul>\n<h1><\/h1>\n<h2><strong><u>2. Cabinet approves <\/u><\/strong><strong><u>\u20b9<\/u><\/strong><strong><u>7,280 crore. Scheme for rare earth magnets<\/u><\/strong><\/h2>\n<p>GS Paper III \u2013 Economy + Science &amp; Technology.<\/p>\n<p><strong>Context: <\/strong>Approval of a new central sector scheme titled \u201cScheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM).\u201d\u200b<\/p>\n<ul>\n<li>Financial outlay: \u20b97,280 crore, targeting 6,000 metric tonnes per annum of integrated REPM manufacturing within India.\u200b<\/li>\n<li>Scheme period: 7 years (about 2 years for plant set\u2011up + 5 years for incentive disbursement).<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What are Rare Earth Permanent Magnets (REPMs)?<\/strong><\/p>\n<ul>\n<li>High\u2011performance magnets made from rare\u2011earth elements like neodymium, praseodymium, samarium.<\/li>\n<li>Usually combined with iron, boron or cobalt to get very strong magnetic properties.<\/li>\n<li>Give very high magnetic strength even in small size components.<\/li>\n<li>Critical for EV motors, wind\u2011turbine generators and many electronic devices.<\/li>\n<li>Also used in aerospace, defence systems and some medical equipment.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why does India need REPM manufacturing?<\/strong><\/p>\n<ul>\n<li>India imports most of its REPM demand from abroad.<\/li>\n<li>Global production is heavily concentrated in one country, creating supply\u2011risk.<\/li>\n<li>Any export curb or geopolitical tension can disrupt supply for Indian industry.<\/li>\n<li>REPMs are vital for EV adoption, renewables, defence, electronics and space.<\/li>\n<li>Domestic capacity is needed for self\u2011reliance and secure supply chains.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What does the scheme aim to do?<\/strong><\/p>\n<ul>\n<li>Build an end\u2011to\u2011end value chain entirely inside India.<\/li>\n<li>Cover all stages: rare\u2011earth oxides \u2192 metals \u2192 alloys \u2192 finished REPMs.<\/li>\n<li>Create 6,000 MTPA integrated REPM manufacturing capacity.<\/li>\n<li>Make India a significant global producer of high\u2011end magnets.<\/li>\n<li>Ensure assured domestic supply for EV, wind\/solar, electronics and defence.<\/li>\n<li>Support broader goals like Atmanirbhar Bharat and Net Zero 2070.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>How will <\/strong><strong>\u20b9<\/strong><strong>7,280 crore be used?<\/strong><\/p>\n<ul>\n<li>Total outlay of the central scheme is \u20b97,280 crore.<\/li>\n<li>Around \u20b96,450 crore as sales\u2011linked incentives on REPM sales for 5 years.<\/li>\n<li>These incentives aim to improve viability and global competitiveness.<\/li>\n<li>Around \u20b9750 crore as capital subsidy to set up factories.<\/li>\n<li>Target: aggregate 6,000 MTPA integrated REPM facilities in India.<\/li>\n<li>Capacity to be allotted to up to 5 firms, each up to 1,200 MTPA.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Link with India\u2013Canada talks on critical minerals<\/strong><\/p>\n<ul>\n<li>India and Canada are discussing cooperation on critical minerals, including rare\u2011earths.<\/li>\n<li>Talks are taking place under CEPA and other trade\/technology tracks.<\/li>\n<li>Canada has significant reserves and mining capabilities in such minerals.<\/li>\n<li>India wants secure access to ores and concentrates from friendly sources.<\/li>\n<li>The REPM scheme ensures those minerals are processed into magnets within India.<\/li>\n<li>This avoids the pattern of exporting raw material and importing high\u2011value products.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Industry response \u2013 Why auto &amp; EV sectors are happy?<\/strong><\/p>\n<ul>\n<li>Auto and EV companies depend heavily on REPMs for traction motors.<\/li>\n<li>Domestic REPM plants will reduce import dependence and supply shocks.<\/li>\n<li>A stable, local magnet supply lowers risk from foreign export restrictions.<\/li>\n<li>It encourages investment in advanced EV components and localisation.<\/li>\n<li>Helps India integrate better into global EV value chains.<\/li>\n<li>Supports clean\u2011energy and decarbonisation goals through reliable EV production.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong><u>3. Trump -MbS summit -$ 1trillion among friends<\/u><\/strong><\/h2>\n<p>GS paper II-IR<\/p>\n<p><strong>Context: <\/strong>The U.S.\u2013Saudi relationship has been visibly reset after years of strain, during Trump\u2019s first West Asia visit as President.<\/p>\n<ul>\n<li>At the summit with Crown Prince Mohammed bin Salman (MbS), both sides announced defence and investment packages running into hundreds of billions of dollars, comparable in scale to the original 1945 U.S.\u2013Saudi \u201coil\u2011for\u2011security\u201d understanding.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Renewed U.S.\u2013Saudi Partnership<\/strong><\/p>\n<ul>\n<li>Trump\u2019s visit marks a political thaw after the Biden\u2011era chill over Khashoggi and rights issues.<\/li>\n<li>The summit restores a highly transactional \u201coil\u2013security\u2013investment\u201d framework between Washington and Riyadh.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Drivers of the New Alignment<\/strong><\/p>\n<ul>\n<li>Both sides seek stability: U.S. wants a reliable Gulf partner; Saudi wants security guarantees and capital.<\/li>\n<li>Large defence and investment announcements give mutual economic and strategic benefits.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Evolution from Past Highs and Lows<\/strong><\/p>\n<ul>\n<li>Earlier, ties were hit by the 1973 oil embargo, Yemen war, and fallout of the Khashoggi murder.<\/li>\n<li>In recent years, Saudi balanced towards China and Russia; this summit pulls it closer again to the U.S. camp.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Key Outcomes of the Trump\u2013MbS Summit<\/strong><\/p>\n<ul>\n<li>Massive U.S. arms sales, including advanced platforms, deepen long\u2011term defence interdependence.<\/li>\n<li>Saudi promises to ramp up investments in U.S. sectors like energy, infrastructure, AI and advanced tech.<\/li>\n<li>Both coordinate on oil policy, sanctions on rivals, and regional flashpoints such as Iran and Yemen.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Emerging Regional Geopolitical Implications<\/strong><\/p>\n<ul>\n<li>U.S.\u2013Saudi coordination on oil affects Russian revenues and Iran\u2019s economic space.<\/li>\n<li>Defence and security agreements reinforce the idea of Saudi Arabia as a de facto \u201cmajor non\u2011NATO ally.\u201d<\/li>\n<li>The deals signal continued U.S. military centrality in Gulf security architecture.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Implications for India<\/strong><\/p>\n<ul>\n<li>More predictable oil prices benefit India\u2019s energy security and macro\u2011stability.<\/li>\n<li>New Saudi\u2013U.S. tech and AI projects may open niches for Indian IT, defence and energy firms.<\/li>\n<li>India must balance closer ties with Saudi and the U.S. while safeguarding relations with Iran and Russia.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong><u>4. PM Modi opens Safran\u2019s MR0 for LEAP engines in Hyderabad<\/u><\/strong><\/h2>\n<p>General Studies Paper III \u2013 Economy &amp; Science\u2011Technology: \u201cInfrastructure: Energy, Ports, Roads, Airports, Railways etc.\u201d<\/p>\n<p><strong>Context: <\/strong>A large Maintenance, Repair and Overhaul (MRO) facility for LEAP aircraft engines has been inaugurated in Hyderabad.<\/p>\n<ul>\n<li>The facility has been set up by French aerospace major Safran with a significant initial investment and capacity.<\/li>\n<li>It is currently Safran\u2019s largest LEAP\u2011engine MRO facility anywhere in the world.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What is Safran?<\/strong><\/p>\n<ul>\n<li>Safran is a French multinational group specialising in aerospace, defence and space propulsion systems.<\/li>\n<li>It designs and manufactures aircraft engines, landing gear, avionics and other high\u2011tech aerospace components.<\/li>\n<li>Safran is a key supplier to many global airlines and aircraft manufacturers, including for narrow\u2011body jets.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why Safran\u2019s investment is important?<\/strong><\/p>\n<ul>\n<li>Brings cutting\u2011edge aero\u2011engine technology and processes to India.<\/li>\n<li>Creates a high\u2011skill jobs ecosystem in engine maintenance, testing and reliability engineering.<\/li>\n<li>Signals global trust in India\u2019s regulatory climate, infrastructure and talent for high\u2011end aerospace work.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What is the LEAP engine?<\/strong><\/p>\n<ul>\n<li>LEAP is a new\u2011generation, fuel\u2011efficient turbofan engine used on aircraft like Airbus A320neo and Boeing 737 MAX.<\/li>\n<li>It offers lower fuel burn, reduced emissions and lower noise compared to older engines.<\/li>\n<li>LEAP engines power a large share of global and Indian narrow\u2011body fleets used by most airlines.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>What is an MRO facility?<\/strong><\/p>\n<ul>\n<li>MRO stands for Maintenance, Repair and Overhaul of aircraft and engines.<\/li>\n<li>Such facilities carry out periodic servicing, inspections, repairs, part replacement and overhauls.<\/li>\n<li>They ensure airworthiness, safety, reliability and longer life of high\u2011value assets like jet engines.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why does India need domestic MRO?<\/strong><\/p>\n<ul>\n<li>Indian airlines spend billions of dollars abroad every year for engine and aircraft maintenance.<\/li>\n<li>A domestic MRO base reduces foreign exchange outgo and overall maintenance costs.<\/li>\n<li>It shortens turnaround time, improves fleet availability and operational flexibility for Indian carriers.<\/li>\n<li>Develops a local base of engineers, technicians and vendors in the aviation supply chain.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Strategic and economic importance for India<\/strong><\/p>\n<ul>\n<li>Supports \u201cMake in India\u201d and \u201cDesign in India\u201d by anchoring advanced aerospace capabilities in the country.<\/li>\n<li>Positions India as an emerging regional hub for aviation maintenance in Asia and the Middle East.<\/li>\n<li>Enhances strategic autonomy by gradually building domestic capability in critical aero\u2011engine technologies.<\/li>\n<li>Strengthens ties with France and the wider EU in defence, civil aviation and high\u2011technology sectors.<\/li>\n<li>Generates high\u2011value employment, technology transfer and opportunities for MSMEs in components and services.<\/li>\n<\/ul>\n<h1><\/h1>\n<h2><strong>5. <u>Rupee is Asias worst performing currency<\/u><\/strong><\/h2>\n<p>GS paper III-Economy<\/p>\n<p><strong>Context: <\/strong>In 2025, the Indian Rupee has depreciated about\u00a0<strong>4.3% against the US Dollar<\/strong>, making it\u00a0<strong>Asia\u2019s worst\u2011performing major currency<\/strong>\u00a0so far this year.<\/p>\n<ul>\n<li>The rupee touched new lows near\u00a0<strong>\u20b9<\/strong><strong>89\u201389.7 per USD<\/strong>, amid concerns it could slide towards\u00a0<strong>\u20b9<\/strong><strong>90 per USD<\/strong>\u00a0if an India\u2013US trade deal is delayed and external pressures persist.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Rupee\u2019s Recent Slide: Context<\/strong><\/p>\n<ul>\n<li>INR has weakened 4.3% in 2025, underperforming most Asian peers.<\/li>\n<li>Depreciation comes despite relatively stable domestic macro fundamentals.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why the Rupee\u2019s Fall Matters<\/strong><\/p>\n<ul>\n<li>Makes India the\u00a0<strong>worst\u2011performing currency in Asia<\/strong>\u00a0this year.<\/li>\n<li>Raises import costs, inflation risks and external\u2011sector concerns.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Main Factors Driving Depreciation<\/strong><\/p>\n<ul>\n<li><strong>Strong US Dollar:<\/strong>\u00a0Global dollar index has risen sharply in recent months.<\/li>\n<li><strong>External Shocks:<\/strong>\u00a0New US tariffs on Indian goods have hurt export prospects.<\/li>\n<li><strong>Capital Outflows:<\/strong>\u00a0Foreign investors have pulled money from Indian markets.<\/li>\n<li><strong>Costly Imports:<\/strong>\u00a0High gold and other commodity prices widened the import bill.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>INR vs Other Asian Currencies<\/strong><\/p>\n<ul>\n<li>INR has weakened more than currencies like the Indonesian Rupiah and Philippine Peso.<\/li>\n<li>Still performs slightly better than structurally weak majors such as the Yen and Won.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Market Levels and Recent Movements<\/strong><\/p>\n<ul>\n<li>Rupee broke previous support to hit fresh lows around \u20b988.8\u201389.7 per USD.<\/li>\n<li>Brief rebounds have not reversed the broader weakening trend.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Trade Deficit and Gold\u2019s Role<\/strong><\/p>\n<ul>\n<li>Merchandise trade deficit hit a record level, crossing\u00a0<strong>$40 billion<\/strong>\u00a0in a single month.<\/li>\n<li>Gold imports and gold\u2011ETF inflows surged due to rising global prices and risk aversion.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>\u00a0<\/strong><strong>Impact of US Tariffs and Policy Shocks<\/strong><\/p>\n<ul>\n<li>Higher US tariffs directly reduce Indian export competitiveness and earnings.<\/li>\n<li>Combined effect of tariffs, strong dollar and capital flight adds to currency pressure.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Forward Risks and Outlook<\/strong><\/p>\n<ul>\n<li>Without an early India\u2013US trade deal, analysts warn INR could test or cross \u20b990 per USD.<\/li>\n<li>Future trajectory will depend on trade negotiations, RBI actions and global dollar trends.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Overall Assessment<\/strong><\/p>\n<ul>\n<li>The rupee\u2019s underperformance reflects\u00a0<strong>external vulnerabilities<\/strong>\u00a0more than domestic collapse.<\/li>\n<li>Policy focus must be on stabilising expectations via trade policy, capital\u2011flow management and prudent macro measures.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong><u>6. 3.5-billion-year-old crater on Mars<\/u><\/strong><\/h2>\n<p>GS PAPER III \u2013\u00a0<strong>Science &amp; Technology<\/strong>,<strong> topic:<\/strong>\u00a0<strong>Space Technology \/ Space Science &amp; Research<\/strong><\/p>\n<p><strong>Context: <\/strong>On 24 November 2025, the IAU officially named a 3.5\u2011billion\u2011year\u2011old Martian crater \u201cKrishnan\u201d after Indian geologist M.S. Krishnan.<\/p>\n<ul>\n<li>Several nearby landforms on Mars were also named after Kerala places such as Valiamala, Thumba, Bekal, Varkala and Periyar.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why does the IAU name celestial features?<\/strong><\/p>\n<ul>\n<li>It is the global authority created in 1919 to standardise names of celestial bodies and surface features.<\/li>\n<li>Standard names avoid confusion among scientists when mapping or studying thousands of features like Martian craters.<\/li>\n<li>Official naming highlights scientifically important sites, aiding research on planetary geology and history.<\/li>\n<li>Rules prevent commercial or arbitrary naming, keeping maps consistent and scientifically credible.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why naming matters<\/strong><\/p>\n<ul>\n<li>Fixed names allow precise referencing in papers, maps and mission planning or rover navigation.<\/li>\n<li>Honours scientists, cultures and places, inspiring students and widening representation beyond the West.<\/li>\n<li>Helps the public connect with space, as familiar place names make distant worlds relatable.<\/li>\n<li>Prevents \u201cname\u2011squatting\u201d or paid naming schemes from distorting scientific nomenclature.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>About the Krishnan Crater<\/strong><\/p>\n<ul>\n<li>Krishnan is a ~70 km\u2011wide impact crater in the Xanthe Terra highland region of Mars.<\/li>\n<li>Its rocks are about 3.5 billion years old, preserving evidence of early water and ice activity.<\/li>\n<li>Features include an inner plain called Krishnan Palus and a valley named Periyar Vallis.<\/li>\n<li>Geological signs of ancient rivers and glaciers make it important for studying Mars\u2019 habitability.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Who proposed these names?<\/strong><\/p>\n<ul>\n<li>The naming was proposed by Kerala\u2011based researchers linked to the Indian Institute of Space Science and Technology.<\/li>\n<li>Lead proposer Asif Iqbal Kakkassery worked on the crater in his PhD under guide Prof. V.J. Rajesh.<\/li>\n<li>Their research on glacial and fluvial landforms in the crater formed the scientific basis for the proposal.<\/li>\n<li>Names were submitted in 2024 and approved after review by the IAU\u2019s planetary nomenclature group.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Who was M.S. Krishnan?<\/strong><\/p>\n<ul>\n<li>M.S. Krishnan (1898\u20131970) was a pioneering Indian geologist from Thanjavur.<\/li>\n<li>He joined the Geological Survey of India in 1924 and became its first Indian Director in 1951.<\/li>\n<li>His work covered Vindhyan geology, Deccan Traps and mineral resources across India.<\/li>\n<li>Author of the classic \u201cGeology of India and Burma,\u201d he also helped found the National Geophysical Research Institute.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why is this naming significant for India?<\/strong><\/p>\n<ul>\n<li>First major Martian crater named after an Indian geologist, symbolising India\u2019s maturing Earth\u2011 and space\u2011science community.<\/li>\n<li>Puts Kerala place names on the Martian map, linking ISRO heritage sites and unique geological locales to Mars.<\/li>\n<li>Highlights contributions of institutions like IIST and encourages more Indian participation in planetary science.<\/li>\n<li>Adds cultural diversity to Martian nomenclature, moving away from a mostly Eurocentric list of names.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Simplified terminology<\/strong><\/p>\n<ul>\n<li>Crater: Bowl\u2011shaped depression formed by the impact of an asteroid or comet.<\/li>\n<li>Vallis: Latin for \u201cvalley\u201d; long channel often carved by ancient water or lava.<\/li>\n<li>Palus: Flat plain that may resemble an old marsh or sediment\u2011filled basin.<\/li>\n<li>Fluvial activity: Past movement of liquid water, leaving channels and deposits.<\/li>\n<li>Glacial processes: Landscape changes caused by moving ice or glaciers.<\/li>\n<li>Xanthe Terra: An ancient, heavily cratered highland region on Mars near the equator.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong><u>7. Capital Gains Accounts (Second Amendment) Scheme, 2025.<\/u><\/strong><\/h2>\n<p>GS PAPER III-Economy<\/p>\n<p><strong>CONTEXT:<\/strong> The Ministry of Finance has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025, which substantially updates the Capital Gains Account Scheme (CGAS), 1988.<\/p>\n<p><strong>\u00a0<\/strong><strong>Capital Gains Account Scheme (CGAS), 1988 \u2013 Basics<img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-3303 alignright\" src=\"https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-27-132831-300x225.png\" alt=\"\" width=\"347\" height=\"260\" srcset=\"https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-27-132831-300x225.png 300w, https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-27-132831.png 334w\" sizes=\"(max-width: 347px) 100vw, 347px\" \/><\/strong><\/p>\n<ul>\n<li>Introduced in 1988 to help taxpayers claim capital gains exemptions.<\/li>\n<li>Used when long\u2011term capital gains cannot be reinvested before ITR due date.<\/li>\n<li>Mainly linked to Sections 54, 54F and allied provisions.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Why CGAS Is Required?<\/strong><\/p>\n<ul>\n<li>Reinvestment window is 2 years (purchase) or 3 years (construction) for property.<\/li>\n<li>If reinvestment goes beyond return\u2011filing date, gains can be parked in CGAS.<\/li>\n<li>Deposit before filing ITR is treated as \u201cdeemed reinvestment\u201d for exemption.<\/li>\n<li>Unused amount after the permitted period becomes taxable LTCG.<\/li>\n<li>Only long\u2011term capital gains are eligible; short\u2011term gains are excluded.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Who Can Use CGAS<\/strong><\/p>\n<ul>\n<li>Individuals, HUFs, firms, companies, trusts and other taxpayers.<\/li>\n<li>Most commonly used by property sellers needing more time to reinvest.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Capital Gains Accounts (Second Amendment) Scheme, 2025<\/strong> \u2013 Key Updates<\/p>\n<p><strong>Wider Bank Coverage<\/strong><\/p>\n<ul>\n<li>Earlier restricted largely to PSBs and IDBI.<\/li>\n<li>Now extended to 19 private and small finance banks.<\/li>\n<li>Only non\u2011rural branches (population \u2265 10,000 as per 2011 Census) can open CGAS accounts.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Modern Electronic Payment Options<\/strong><\/p>\n<ul>\n<li>Deposits allowed via credit\/debit cards, net banking, IMPS, UPI, RTGS, NEFT, BHIM Aadhaar Pay.<\/li>\n<li>Replaces the earlier narrow dependence on cheques and demand drafts.<\/li>\n<\/ul>\n<p><strong>Clarified \u201cEffective Date\u201d of Deposit<\/strong><\/p>\n<ul>\n<li>For cheque\/DD\/e\u2011mode, effective date is when instrument and form are received by the deposit office.<\/li>\n<li>Removes confusion for last\u2011day deposits claimed for exemption.<\/li>\n<\/ul>\n<p><strong>Electronic Statements and Records<\/strong><\/p>\n<ul>\n<li>Banks can issue e\u2011statements in place of physical passbooks.<\/li>\n<li>Aligns CGAS operations with standard digital\u2011banking practices.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Online Closure from 1 April 2027<\/strong><\/p>\n<ul>\n<li>CGAS accounts to be closed through online requests only.<\/li>\n<li>Closure to be authenticated using Digital Signature (DSC) or Electronic Verification Code (EVC).<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Extension to Section 54GA<\/strong><\/p>\n<ul>\n<li>Scheme now explicitly covers capital gains under Section 54GA.<\/li>\n<li>This section deals with shifting an industrial undertaking from an urban area to an SEZ.<\/li>\n<li>Expands CGAS beyond purely residential\u2011property related reinvestment.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. CJI says court will consider plea seeking to revive NJAC ,end the collegium system GS paper II-polity<\/p>\n","protected":false},"author":2,"featured_media":3326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-current-affairs"],"featured_image_urls":{"full":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_.png",1024,1024,false],"thumbnail":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_-150x150.png",150,150,true],"medium":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_-300x300.png",300,300,true],"medium_large":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_-768x768.png",640,640,true],"large":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_.png",640,640,false],"1536x1536":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_.png",1024,1024,false],"2048x2048":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_.png",1024,1024,false],"morenews-large":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_-825x575.png",825,575,true],"morenews-medium":["https:\/\/arkreflectionsias.com\/studentportal\/wp-content\/uploads\/2025\/11\/b_CJI_says_court_will_-590x410.png",590,410,true]},"author_info":{"display_name":"Nithin DTPoperator","author_link":"https:\/\/arkreflectionsias.com\/studentportal\/author\/nithindtp\/"},"category_info":"<a href=\"https:\/\/arkreflectionsias.com\/studentportal\/category\/daily-current-affairs\/\" rel=\"category tag\">DAILY CURRENT AFFAIRS<\/a>","tag_info":"DAILY CURRENT AFFAIRS","comment_count":"0","_links":{"self":[{"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/posts\/3302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/comments?post=3302"}],"version-history":[{"count":1,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/posts\/3302\/revisions"}],"predecessor-version":[{"id":3304,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/posts\/3302\/revisions\/3304"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/media\/3326"}],"wp:attachment":[{"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/media?parent=3302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/categories?post=3302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arkreflectionsias.com\/studentportal\/wp-json\/wp\/v2\/tags?post=3302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}