🔆ISRO to boost NavIC, widen user base of location system

In News:
✅On the side-lines of the India Space Congress, the Indian Space Research Organisation (ISRO) recently revealed its plans to expand the reach of NavIC (Navigation with Indian Constellation) beyond India and not to a limited territory around India.

✅ISRO is also working on a series of NavIC improvements to encourage more people to install and use it.

✅NavIC, also known as the Indian Regional Navigation Satellite System (IRNSS), is an independent stand-alone indigenous navigation satellite system developed by the Indian Space Research Organisation (ISRO).

✅NAVIC was approved in 2006 and was expected to be completed by 2011, but only become operational in 2018.

✅NavIC, which consists of 7 satellites, covering the whole of India's landmass and up to 1,500 km from its boundaries, is conceived with the aim of removing dependence on foreign satellite systems for navigation, particularly for "strategic sectors.".

🔆Buddhist Terminology

✅Pratyeka Buddhas: Beings who have attained enlightenment without guidance but have not taught it to the world.
✅Arhat: Who have achieved Nirvana.
✅Bodhisattva: Abeing about to become Buddha shows charity and helper of man.
✅Sramanas/Bhikshu: Buddhist monks.
✅Upasakas: Lay followers.
✅Mahaparinirvana: Final blowing out, death.
✅Arya-Atthangikamagga: Noble eight-fold path.
✅Ashtamahasthanas: Eight holy places.
✅Tathagata: One of the titles of Buddha.
✅Prajna Parimita : Female deity of perfection and insight associated with Mahayana.
✅Anatta: Soullessness.
✅Samnera: Buddhist monks before being introduced into sangha as full-fledged member.
✅Paramita: 10 percepts (vows) observed by monks.
✅Pratimoksa: Rules of 150 articles (a part of Vinay Pitaka).
✅Skandhakas: Monastic rules.
✅Poshadha: Fortnightly meeting in Sanghas.
✅Siddha: Perfected being in Vajrayana.
✅Sakra: Gold identical with Indra used by the monks.
✅Sangha: Buddhist order.
✅Vassa: Retreat during rainy season by the monks.
✅Sangharam: Resting place for monks.
✅Vihara: Buddhist monastery.
✅Pravajya: Initial ordination for old and experienced monks.
✅Sramanas: Buddhist monks, in general.
✅Upajjhaya: Spiritual leader.
✅Sanketas: Four noble truths.
✅Upasotha/Roya: Days of fast on full moon, new moon and two quarter moon days in a month.
✅Chaitya: Temples of Buddhists.

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🔆The Largest Lakes (surface area) by Continent

✅Australia – Lake Eyre (salt lake)

✅Africa – Lake Victoria, also the third-largest freshwater lake on Earth. It is one of the Great Lakes of Africa.

✅Antarctica – Lake Vostok (subglacial)

✅Asia – Lake Baikal (if the Caspian Sea is considered a lake, it is the largest in Eurasia, but is divided between the two geographic continents)

✅Europe – Lake Ladoga, followed by Lake Onega, both located in northwestern Russia.

✅North America – Lake Superior.

✅South America – Lake Titicaca, which is also the highest navigable body of water on Earth at 3,812 metres above sea level. The much larger Lake Maracaibo is a contiguous body of water with the sea, so it is ignored. ,

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Draft red herring prospectus

Distribution among govt and private sources

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UPSC Press 2024 Press Note

✅Tax Elasticity: change in tax revenue in response to change in tax rate

✅Tax Buoyancy: change in tax revenue with increase in GDP .

✅Tax Expenditure: revenue forgone by the government due to tax exemptions and concessions.

✅ Pigouvian Tax: tax on any market activity that generates negative externalities. Ex. Carbon tax

✅Tobin Tax: tax on the conversion of one currency into another.

Important rates
✅CRR - 4.5 %
✅SLR - 18 %
✅Repo Rate - 6.5 %
✅SDF - 6.25 %
✅Reverse repo - 3.35 %
✅Bank rate, MSF - 6.75 %