Design Law Treaty (DLT)

🔹 Why in News: After nearly two decades of negotiations, WIPO member states adopted the Design Law Treaty (DLT), with India signing the final act.

🔹 About the Treaty:
- Aims to harmonize procedural frameworks for industrial design protection, making registration more efficient and accessible globally.
- Requires 15 contracting parties to enter into force.

🔹 Key Features:
1. 12-Month Grace Period: Allows designers to register designs within 12 months of first disclosure.
2. Relief Measures: Flexibility for applicants to retain rights if deadlines are missed.
3. Simplified Renewal: Eases the process for renewing design registrations.
4. E-filing Systems: Promotes electronic filing and exchange of documents.
5. Technical Assistance: Provides support to developing and least-developed countries for treaty implementation.

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Coalition for Disaster Resilient Infrastructure (CDRI)

● The Coalition for Disaster Resilient Infrastructure (CDRI) is a global partnership aimed at promoting disaster and climate resilience in infrastructure systems.

● Genesis: Launched by India at the UN Climate Action Summit in 2019.

● Members: Includes 40 countries and 7 organizations, encompassing nations, UN agencies, multilateral development banks, and private entities.

● Objective: Strengthen the resilience of infrastructure systems against climate and disaster risks, ensuring sustainable development.

● Headquarters: Based in New Delhi, India.

● Reports: Publishes the Global Infrastructure Resilience Report.

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Climate Finance Action Fund (CFAF)

● Why in News? : Azerbaijan launched the Climate Finance Action Fund (CFAF) as part of initiatives for the UN Climate Change Conference COP29.

About CFAF

● Headquarters: Located in Baku, Azerbaijan.

● Purpose:

-To support climate projects in developing countries.

-Assist in achieving next-generation Nationally Determined Contributions (NDCs) to maintain the 1.5°C temperature target.
Address the consequences of natural disasters.

● Capitalization: Funded by contributions from fossil fuel-producing countries and companies across oil, gas, and coal sectors.

● Operationalization: CFAF will become operational upon raising an initial $1 billion and securing commitments from 10 contributing countries as shareholders.

**💰 Foreign Currency Non-Resident (FCNR) Deposits 💰

🔹 **In News: The Reserve Bank of India (RBI) has increased the interest rate ceilings on FCNR(B) deposits to attract more capital inflows.

🔹 What is FCNR?
- FCNR stands for Foreign Currency Non-Resident deposits.
- These are fixed deposits held by Non-Resident Indians (NRIs) in foreign currency with Indian banks.
- The deposits are maintained in currencies like USD, GBP, EUR, JPY, etc., and are immune to exchange rate fluctuations.

🔹 Key Features:
1. Principal and Interest: Fully repatriable in the chosen foreign currency.
2. Tenure: Typically ranges from 1 to 5 years.
3. Tax Benefits: Interest income is exempt from income tax in India for NRIs.
4. Risk-Free Returns: Protects against exchange rate volatility since it’s held in foreign currency.

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