Reserve Bank of India (RBI) increased collateral-free loan limit for farmers
From January 1, 2025 the RBI raised the cap on farmers' access to collateral-free loans from ₹1.6 lakh to ₹2 lakh declared on December 14, 2024.
More than 86% of farmers are anticipated to gain from the increase in the loan cap, which is intended to assist small and marginal farmers.
To make loans more accessible to small landowners, banks throughout India have been directed to provide loans up to ₹2 lakh without collateral.
The action aims to assist farmers in managing growing farming expenses and enhancing financial accessibility.
Farmers will find it easier to obtain Kisan Credit Card (KCC) loans, which are essential for financing agricultural endeavours.
Government's Modified Interest Subvention Scheme is in line with the increased loan ceiling.
The GDP of the agricultural sector increased by 3.5% between July and September, despite a slowdown in the general economy.
Science and Technology
Desert Knight: Trilateral air combat exercise (Defence)
Desert Knight is namely an air combat exercise between India, France and UAE held over the Arabian sea.
India's Sukhoi-30MKIs, Jaguars, IL-78 refuellers, and AEW&C systems participated, along with France's Rafale fighter jets and UAE's F-16 fighters stationed at Al Dhafra airbase.
The exercise is scheduled to occur 350-400km away from Karachi, involving advanced fighter aircraft and support systems from all three countries.
The Desert Knight series aims to enhance air force readiness and operational capability through combined exercise.
The strategic move involves shifting defence cooperation to the Indo-Pacific and Persian Gulf region.
The exercise aligns with the 2022 India-France-UAE relationship, focusing on defence, technology, energy, and environmental partnerships.
The Indian Air Force utilizes fighter aircraft and systems from Jamnagar, Gujarat, demonstrating India's procedural readiness for joint exercises.
EnVision mission
European Space Agency (ESA) has confirmed that the EnVision mission, set to launch in 2031, will use an Ariane 6 rocket to explore Venus.
EnVision's primary objective is to explore Venus's geological history to determine the existence of life and understand its harsh climate.
EnVision is set to be the first mission to map surface features and explore Venus' dense atmosphere using radar.
Venus' atmosphere is characterized by 92 times Earth's pressure, dense sulphuric acid clouds, and extremely hot temperatures (average 464°C).
NASA plans to equip EnVision with a radar system for surface mapping, three gas analysis spectrometers, and a radio experiment.
EnVision will collaborate with NASA's upcoming DAVINCI+ and VERITAS missions to conduct a comprehensive exploration.
The mission aims to assess Venus's geological activity by examining tectonics, volcanic activity, and the impact of asteroid collisions.
