Association of World Election Bodies(A-WEB):

● A-WEB was established in 2013 in South Korea.It is the largest association of Election Management Bodies (EMBs) worldwide.

● It was founded with the shared vision among its members of achieving sustainable democracy around the world.

● A-WEB is currently chaired by India for the 2019-21 term.

● At present A-WEB has 115 EMBs as Members & 16 Regional Associations/Organisations as Associate Members.

● The Permanent Secretariat is situated at Seoul, South Korea.

What is Accelerator Lab in News?

● Accelerator Lab is an innovative initiative by the UNDP, Qatar Government and the Federal Republic of Germany to find 21st century solutions to today’s complex new challenges.

● These labs seek to identify grassroots solutions together with local actors and validate their potential to accelerate development.

Accelerator Lab in India:

● Accelerator lab in India has been launched by UNDP in collaboration with Atal Innovation Mission.

● It will seek to address some of the most pressing issues facing India, such as air pollution, sustainable water management and client-resilient livelihoods through innovation.

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Hydrogen:

● Hydrogen is the lightest and first element on the periodic table. Since the weight of hydrogen is less than air, it rises in the atmosphere and is therefore rarely found in its pure form, H2.

● Properties: At standard temperature and pressure, hydrogen is a nontoxic, nonmetallic, odorless, tasteless, colorless, and highly combustible diatomic gas.

● Hydrogen fuel is a zero-emission fuel burned with oxygen.It can be used in fuel cells or internal combustion engines. It is also used as a fuel for spacecraft propulsion.

Types of Hydrogen:

● Grey Hydrogen: It is extracted from hydrocarbons (fossil fuels, natural gas).The byproduct of it is CO2.

● Blue Hydrogen: It is sourced from fossil fuels.The byproduct of it is CO, CO2

● Green Hydrogen: It is generated from renewable energy (like Solar, Wind).It’s byproducts are Water and Water Vapor.

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SUPACE Portal:

● Launched by: Supreme Court of India

● Full Form: SUPACE stands for Supreme Court Portal for Assistance in Court’s Efficiency.

● Aim: It is an artificial intelligence portal that is designed to make research easier for judges, thereby easing their workload.It will also collect relevant facts and laws and makes them available to a judge.

India Energy Exchange(IEX)

● India Energy Exchange is the first and largest energy exchange in India.

● It aims to provide a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Saving Certificates.

● The exchange platform also enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.

● The platform is a publicly listed company with National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

● It is approved and regulated by the Central Electricity Regulatory Commission (CERC) and has been operating since 2008.

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What is Net Zero?

● Net Zero is also known as carbon-neutrality.Net-zero does not mean that a country would bring down its emissions to zero.

● Rather, net-zero is a state where a country’s emissions are compensated by absorption and removal of greenhouse gases from the atmosphere.

● These emission absorptions can be increased by adding more carbon sinks like forests, removal of greenhouse gases via technologies like carbon capture and storage among others.

● In some cases, a stage may appear that the country can become carbon-negative.The perfect example for this is Bhutan where absorption is more than carbon emission.

Does the Paris agreement include Net Zero Goal?

● The net-zero goal does not figure in the 2015 Paris Agreement.The Agreement only requires every signatory to take the best climate action it can.

● Countries need to set five- or ten-year climate targets for themselves, and demonstrably show they have achieved them.

● The other requirement is that targets for every subsequent time-frame should be more ambitious than the previous one.

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What Is Forbearance?
Forbearance is a temporary postponement of mortgage payments. It is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into foreclosure.

Students and Teachers’ Holistic Advancement through Quality Education (SARTHAQ)

● Launched by: Department of School Education and Literacy,Ministry of Education.

● Purpose: The plan was launched to implement the goals of the National Education Policy (NEP) 2020 and to assist States/UTs in this task.

● The programme also aims at providing an all-around development for the students at the primary and secondary level.

● It will also establish a safe, secure, inclusive and conducive learning environment for students as well as teachers.

What are Pre-Packs Insolvency Resolution Process?

● Pre-Pack is the resolution of the debt of a distressed company through an agreement between secured creditors and investors instead of a public bidding process.

● Under this system, financial creditors will agree to terms with a potential investor and seek approval of the resolution plan from the National Company Law Tribunal(NCLT).

● The approval of a minimum of 66% of financial creditors that are unrelated to the corporate debtor would be required before a resolution plan is submitted to the NCLT.

Why in News? President of India has promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 to allow the use of pre-packs as an insolvency resolution mechanism for Micro, Small and Medium Enterprises (MSMEs) with defaults up to Rs 1 crore.

Deficit financing is the budgetary situation where expenditure is higher than revenue.

-It is a practice adopted for financing the excess expenditure with outside resources.

-The expenditure revenue gap is financed by either printing of currency or through borrowing.

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Interest Coverage Ratio: The interest coverage ratio (ICR) is a measure of a company's ability to meet its interest payments.

-The interest coverage ratio is equal to earnings before interest and taxes (EBIT) for a time period. It determines how easily a company can pay interest expenses on outstanding debt.

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Bare Necessities Index(BNI)

-This index is a means of assessing equity in economic development among states and regions in India. It uses the basic needs approach.

Indicators: This index uses 26 indicators on five dimensions of basic necessities— water, sanitation, housing, micro-environment, and other facilities.

-The index has been created for all states based on data collected by the National Statistical Office(NSO) in 2012 and 2018.

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