1) Limited Purpose Clearing Corporation: It is an entity established to undertake the activity of clearing and settlement of repo transactions.
- The disputes arising between clearing members of the LPCC will be settled by conciliation and/or by an arbitration panel consisting of three clearing members, other than the clearing members who are party to the dispute.
- The decision of the arbitration panel would be final and binding on the parties.
- In case a clearing member or the LPCC is not satisfied then the disputes would be resolved under the procedure laid down in the Payment and Settlement Systems Act, 2007.
2) YZ Ceti b: it is a rocky, Earth-sized exoplanet rotating around a small red dwarf star only 12 light-years away from Earth.
- Astronomers have detected a repeating radio signal from YZ Ceti b. This discovery suggests the presence of a magnetic field around the planet, which is one of the prerequisites for a habitable planet. The radio signals detected from YZ Ceti b are a result of the interaction between the planet’s magnetic field and the star.
- Such signals can only be produced if the exoplanet orbits very close to its parent star and has its own magnetic field to influence the stellar wind and generate the signals.
- The magnetic field is important because the survival of a planet’s atmosphere may well depend on its having, or not having, a strong magnetic field, since the field protects its atmosphere from being eroded by the charged particles blowing in from its star.
3) Red Dwarf Stars: Red dwarf stars are small, low-mass, dim, and cool stars, they are the most common and smallest in the universe.
- As they don’t radiate much light, it’s very tough to detect them with the naked eye from Earth. However, as red dwarfs are dimmer than other stars, it is easier to find exoplanets that surround them. Therefore, red dwarfs are a popular target for planet hunting.
4) Cinematograph (Amendment) Bill 2023: It seeks to amend the Cinematograph Act 1952.
- It has provisions to classify films on the basis of age group instead of the current practice of rating them “U” (unrestricted public exhibition), “A” (restricted to adult audiences), and “UA” (unrestricted public exhibition subject to parental guidance for children below the age of 12).
- The amendments seek to add new classifications – ‘UA-7+’, ‘UA-13+’, and ‘UA-16+’ in place for 12 years.
- The Bill holds stricter punishment for those responsible for piracy. This includes three years of imprisonment and a Rs 10 lakh penalty for those engaged in piracy.
- Once the Bill is released, the act of piracy will be considered an offence legally and will include even transmitting pirated content punishable.
5) Central Board of Film Certification: It is a statutory body under the Ministry of Information and Broadcasting, under the Cinematograph Act 1952.
- The Board consists of non-official members and a Chairman (all of whom are appointed by Central Government) and functions with headquarters at Mumbai.
- The Board scrutinizes the film in its entirety and based on the contemporary standard of Indian society following the procedure laid down under the Act.
- Board can either make a speaking order of rejection or grant the certificate, which shall be valid for ten years.
