Tightening of compliance rules by RBI; banks to prefer big fintechs for co-branded cards

About Co-branded Credit card:

• It is a card that is issued jointly by a card-issuer and a co-branding entity bearing the names and logos of both the partnering entities
• Usage: They can be used in any location where the card network is accepted, not just with the co-branding retailer.
• Features: They typically come with rewards or other benefits that are tied specifically to purchases made at the co-branding retailer and usually offer rewards or benefits for general purchases as well.

How Co-Branded Cards Work?

• Co-branded cards work like any normal credit card. They can be used for any purchase wherever cards in that network (such as Mastercard, Visa, American Express, or Discover) are accepted.
• Co-branded card relationships can be structured in a variety of ways. But basically, in order to issue a co-branded credit card, a merchant (such as a department store, gas station, or airline) or another organization (like a university or nonprofit) must partner with a financial institution, which provides the actual credit.

Startups are now crowding for revenue-based financing

About Revenue-based financing:

• It is a non-collateralised debt against a percentage of gross revenue. It is an alternative financing product for digitally-enabled businesses, where they can raise capital in exchange for a percentage of their gross revenue as a monthly repayment, in addition to a fixed fee between 8-10% of the principal amount.
• It is usually opted by companies with steady revenue flow that have a high requirement for short-term working capital, such as cloud kitchens, e-commerce merchants, financial services companies or software-as-a-service firms.
• In this type of investment investors receive a regular share of the businesses income until a predetermined amount has been paid.
• Typically, this predetermined amount is a multiple of the principal investment and usually ranges between three to five times the original amount invested.

Revenue-based Financing vs. Debt and Equity-based Financing

• Revenue-based financing seems similar to debt financing because investors are entitled to regular repayments of their initially invested capital.
• However, revenue-based funding does not involve interest payments. Instead, the repayments are calculated using a particular multiple that results in returns that are higher than the initial investment.
• Also, in revenue-based financing, a company is not required to provide collateral to investors. Unlike equity-based investment models, there is no transfer of an ownership stake in a company to investors.

The problem of equity in IPCC reports

About Integrated Assessment Models:

• These are complex models that examine possible futures of the energy and climate system and economies. They are “integrated” because they combine different strands of knowledge to model human society alongside parts of the Earth system.
• Its macroeconomic models can point to future growth levels in terms of GDP; its energy models can project future consumption; vegetation models can examine land-use changes; and earth-system models use the laws of physics to understand how climate evolves.
• With such integration across disciplines, IAMs are meant to provide policy-relevant guidelines on climate action. They also prioritise least-cost assessments — for example, the absolute cost of setting up a solar plant or undertaking afforestation in India is lower than in the U.S.
• However, experts have said they could exercise the option of enabling countries to equitably share the burden of action, where the richest undertake more drastic mitigation action more immediately.
• They capture human-society interactions by describing them as coupled systems on the relevant geographical and intertemporal scales for policy-making.
• They typically include a description of human activity (e.g. energy and land use), direct drivers of environmental change (e.g. emissions, land use and resource use), resulting impacts (e.g. climate change and consequences for crop yields) and response options.

INDIAN ARMY CONTINGENT DEPARTS FOR SEYCHELLES FOR JOINT MILITARY EXERCISE “EXERCISE LAMITIYE – 2024”

About Exercise LAMITIYE:

• It is a joint military exercise between the Indian Army and Seychelles Defence Forces (SDF). ‘LAMITIYE’ meaning ‘Friendship’ in the Creole language is a biennial training event and has been conducted in Seychelles since 2001.
• 45 personnel each from the GORKHA RIFLES of the Indian Army and Seychelles Defence Forces (SDF) will participate in the 2024 exercise.
• The Exercise will enhance cooperation and interoperability between both the sides during Peace Keeping Operations. The exercise will also build and promote bilateral military relations in addition to exchanging skills, experiences and good practices between both armies
• Both sides will jointly train, plan and execute a series of well-developed tactical drills for neutralization of likely threats that may be encountered in Semi-Urban environment, while exploiting and showcasing new-generation equipment and technology.

Worrisome and even frightening'': Ancient ecosystem of Lake Baikal at risk of regime change from warming

About Lake Baikal:

• It is located in the southern part of eastern Siberiawithin the republic of Russia. It is the oldest existing freshwater lake on Earth (20 million–25 million years old), as well as the deepest continental body of water.
• It is also the world’s largest freshwater lake by volume, containing about one-fifth of the fresh water on Earth’s surface. The largest rivers that flow into it include the Selenga, Barguzin, Upper (Verkhnyaya) Angara, Chikoy, and Uda.
• It is known as the ''Galapagos of Russia''. In 1996 Lake Baikal was designated a UNESCO World Heritage Site

North Korea fires ballistic missiles as Blinken visits Seoul

About Ballistic Missiles:

• A ballistic missile is a rocket-propelled, self-guided strategic-weapons system that follows a ballistic trajectory to deliver a payload from its launch site to a predetermined target.
• They are powered initially by a rocket or series of rockets in stages, but then follow an unpowered trajectory that arches upwards before descending to reach its intended target.
• They can carry conventional high explosives as well as chemical, biological, or nuclear munitions. They can be launched from aircraft, ships and submarines, in addition to land-based silos and mobile platforms.
• There are four general classifications of ballistic missiles:
• Short-range: less than 1,000 kilometers (approximately 620 miles), also known as “tactical” ballistic missiles.
• Medium-range: between 1,000 and 3,000 kilometers also known as “theater” ballistic missiles.
• Intermediate-range: between 3,000 and 5,500 kilometers
• Long-range: more than 5,500 kilometers, also known as intercontinental or strategic ballistic missiles.

China Adds Persian Gulf Oil Bookings as Red Sea Crisis Persists

About Persian Gulf:

• It is part of the Indian Ocean. It is an extension of the Gulf of Oman and connects to the Indian Ocean via the Strait of Hormuz in the east.
• It is also referred to as the Arabian Gulf or Gulf of Iran. It lies between the Arabian Peninsula and Iran to the southwest and northeast, respectively.
• It is bounded by several countries, including Iran to the north, Qatar, Saudi Arabia, and the United Arab Emirates on the peninsula, and Bahrain, Iraq and Kuwait in the northwest. 
• Its western end is marked by the major river delta of the Shatt al-Arab, which carries the waters of the Euphrates and Tigris rivers. It has a coastline length of about 5,117 km, with Iran having the longest coastline (1,536 km).
• Islands:
• There are several islands in the Persian Gulf, including Bahrain.
• Qeshm Island is the largest island in the Persian Gulf.

Supreme Court grants interim bail to Muslim poet accused of insulting Hindu Gods

About Interim Bail:

• It is a temporary form of bail granted during the pendency of an application for anticipatory or regular bail. It provides a brief respite for the accused, temporarily releasing them from custody.
• It is conditional and can be extended based on the circumstances. If the interim bail expires and the accused fails to meet the requirements for its continuation or pay the necessary amount, their right to freedom is revoked, and they may be retaken into custody.
• It serves as an interim measure until a final decision is made on the bail application, preventing unnecessary detention of the accused during this period.
• In the case of Sukhwant Singh & Ors v. State of Punjab, the Supreme Court held that the interim bail is a measure especially to safeguard the reputation of an accused. Also, the court has the inherent power to grant bail to a person whose bail application is still pending for disposal.
• If the accused’s request for anticipatory bail or interim bail is denied by the court, the police may detain him without a warrant. 
• The ability of the High Court and Sessions Court to grant anticipatory bail is covered under Section 438 of the CrPC. As per S.438 CrPC, the court has to consider the following in order to decide whether to reject the anticipatory bail application or to give an interim relief order:
• The nature and gravity of the accusation
• The background and criminal history of the accused, which include previous imprisonment due to any cognizable offence.
• Probability of the accused escaping from justice
• If there is a possibility that the intention behind the allegations made against the accused is to injure and degrade the accused through his arrest.

FMD disease affects 60 per cent milch cattle in Pilibhit

About Foot-and-Mouth Disease (FMD):

• It is a highly contagious viral disease of livestock that has a significant economic impact. The disease affects cattle, swine, sheep, goats and other cloven-hoofed ruminants.
• Intensively reared animals are more susceptible to the disease than traditional breeds.
• It does not affect horses, dogs, or cats.
• It is a Transboundary Animal Disease (TAD) that deeply affects the production of livestock and disrupts regional and international trade in animals and animal products.
• It is also not related to hand, foot and mouth disease, which is a common childhood illness caused by a different virus.
• The organism which causes FMD is an aphthovirus of the family Picornaviridae.
• There are seven strains (A, O, C, SAT1, SAT2, SAT3, and Asia1) which are endemic in different countries worldwide.  
• Immunity to one type does not protect an animal against other types or subtypes.
• FMD is characterised by fever and blister-like sores on the tongue and lips, in the mouth, on the teats and between the hooves.
• The disease is rarely fatal in adult animals, but there is often high mortality in young animals. The disease causes severe production losses, and while the majority of affected animals recover, the disease often leaves them weakened and debilitated.
• It was the first disease for which the World Organisation for Animal Health (WOAH, founded as OIE) established official status recognition.

Why Delhi’s Dolma Aunty Momos challenged the use of her trade mark, what the law says

About ’Passing off’ under Trademark Rules:

• Passing off action basically refers to the unauthorised use of goods, services, and the goodwill attached to another person’s business, which would amount to misrepresentation. The notion of Passing off in the Indian Trademarks Act, 1999, seeks to safeguard the goodwill associated with unregistered trademarks.  
• When the trademark has been registered by the owner and infringement happens, then it becomes a suit for infringement, but if the trademark has not been registered by the owner and infringement happens, then it becomes a case of passing off.
• Passing off is a common law tort which occurs when a person sells his products as the goods of another, wherein the trademark owner can take legal action to remedy this violation.
• While passing off is not defined under the Indian Trademarks Act 1999, Section 27 recognizes the common law rights of a Trademark owner wherein the owner can initiate legal proceedings against any person for passing off goods or services as the goods of another person or as services provided by another person. 
• Passing off occurs when there is illegal use of a trademark or trade name in such a way that the public is misled into believing that the products or services supplied by one party are genuinely those of another.
• This misrepresentation can harm the goodwill and reputation of the legitimate owner of the trademark. 
• Establishing passing off can be difficult since claimants must demonstrate the possibility of public misunderstanding about the origin of the products or services.
• Passing off encompasses a larger variety of commercial operations, including trade, business, and non-business initiatives, in addition to commodities and services