The Assembly of Experts has appointed Mojtaba Khamenei as the new Supreme Leader of Iran following the death of former leader Ali Khamenei in a U.S.–Israeli strike.
Key Highlights
Age: 57
Position: Third Supreme Leader of Iran.
Predecessors:
Ruhollah Khomeini (1979–1989)
Ali Khamenei (1989–2026)
Role of the Supreme Leader in Iran
The Supreme Leader is the highest authority in Iran’s political system.
Key powers include:
Head of state
Commander-in-chief of armed forces
Control over the judiciary, military, and security agencies
Influence over foreign and defence policy
Ability to appoint key officials and veto decisions
Although Iran elects a President, the Supreme Leader holds ultimate authority.
[2016] Which of the following is not a member of ‘Gulf Cooperation Council’? (a) Iran (b) Saudi Arabia (c) Oman (d) Kuwait
The famous economics book An Inquiry into the Nature and Causes of the Wealth of Nations completed 250 years on March 9, 2026. The work by Adam Smith continues to influence debates on free trade, taxation, monopolies, and economic inequality.
About The Wealth of Nations
Published in 1776, during the Scottish Enlightenment.
Considered the foundational text of classical economics.
Analyses the sources of national wealth, labour productivity, trade, and markets.
Smith is often called the “father of modern economics”.
Key Economic Ideas of Adam Smith
Division of Labour: Specialisation improves productivity.
Example used by Smith: pin factory, where each worker performs a specific task to increase output.
Free Markets: Economic activity works best when individuals pursue self-interest within competitive markets.
The “Invisible Hand”: Individuals pursuing their own interest can unintentionally benefit society as a whole. Markets allocate resources efficiently without heavy government intervention.
Free Trade: Smith criticised mercantilism, the idea that countries should maximise exports and minimise imports.
He argued that:
Trade allows nations to specialise in what they produce efficiently.
Greater trade leads to mutual prosperity.
[2011] What does the term “economic liberalization” refer to in the context of the Indian economy? (a) Expansion of the public sector (b) Restriction of foreign investment (c) Removal of restrictions on private sector and encouragement of free market policies (d) Increase in trade barriers
The Reserve Bank of India (RBI) conducted Open Market Operations (OMO) purchase of Government Securities worth ₹50,000 crore to inject liquidity into the banking system. Another tranche of ₹50,000 crore is scheduled shortly.
Key Highlights
Amount purchased: ₹50,000 crore worth of Government Securities (G-Secs).
Total planned purchase: ₹1,00,000 crore in two tranches.
Maturity range of securities:
6.01% G-Sec maturing 2030
7.30% G-Sec maturing 2053
Purpose:
Inject liquidity into the banking system.
Offset liquidity shortage caused by advance tax payments.
Ensure banks have sufficient funds for lending.
What are Open Market Operations (OMO)?
Open Market Operations are a key monetary policy tool used by the RBI.
Definition: Buying or selling government securities in the open market to regulate money supply and liquidity.
If RBI buys G-Secs
Injects liquidity
Increases money supply
Encourages lending
If RBI sells G-Secs
Absorbs liquidity
Reduces money supply
Additional Measures
The Government of India conducted a switch auction, buying back ₹6,309 crore of G-Secs and issuing ₹6,431 crore of new bonds.
These operations help manage the government’s debt maturity profile.
[2013] In the context of Indian economy, ‘Open Market Operations’ refers to: (a) borrowing by scheduled banks from the RBI (b) lending by commercial banks to industry and trade (c) purchase and sale of government securities by the RBI (d) None of the above
A Namibian cheetah Jwala gave birth to five cubs at Kuno National Park, taking India’s total cheetah population to 53. The development is a major milestone under Project Cheetah.
Key Highlights
Five cubs born to Namibian cheetah Jwala.
Recently, another cheetah Gamini delivered four cubs at the same park.
Total cheetah population in India: 53.
Indian-born cubs: 33.
Successful litters in India: 10.
About Project Cheetah
Launched on 17 September 2022 by Narendra Modi.
Eight cheetahs were translocated from Namibia to Kuno National Park.
Aim: Reintroduce cheetahs in India after extinction.
Background
Cheetahs became extinct in India in 1952 due to hunting and habitat loss.
The species is the fastest land animal.
Objectives of the Programme
Restore the cheetah population in India.
Re-establish a functional grassland ecosystem.
Promote wildlife tourism and conservation awareness.
Improve genetic diversity and species recovery.
[2024] Consider the following statements: Lions do not have a particular breeding season. Unlike most other big cats, cheetahs do not roar. Unlike male lions, male leopards do not proclaim their territory by scent marking.Which of the statements given above are correct? (a) 1 and 2 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2 and 3
The World Health Organization (WHO) and the Pan American Health Organization (PAHO) have officially verified Chile as the first country in the Americas and the second globally to eliminate leprosy as a public health problem.
Leprosy (Hansen’s Disease)
A chronic infectious disease caused by the bacterium Mycobacterium leprae.
Primarily affects:
Skin
Peripheral nerves
Upper respiratory tract mucosa
Eyes
If untreated, it can cause permanent nerve damage and disability.
Transmission
Spread through respiratory droplets from the nose and mouth of untreated patients.
Requires close and prolonged contact.
Not highly contagious.
Incubation Period
Very long incubation period.
Average: ~5 years, but symptoms may appear up to 20 years later.
Symptoms
Pale or reddish skin patches with loss of sensation
Numbness and nerve damage
Muscle weakness in hands and feet
Painless ulcers on soles of feet
Eye damage in severe cases
Treatment
Multi-Drug Therapy (MDT) provided free worldwide by WHO.
Combination of medicines:
Rifampicin
Dapsone
Clofazimine
100% curable if treated early.
Early treatment prevents disability.
[2014] Consider the following diseases: Diphtheria Chickenpox Smallpox Which of the above diseases has/have been eradicated in India? (a) 1 and 2 only (b) 3 only (c) 1, 2 and 3 only (d) None of the above
The Maharashtra government has announced a ₹35,000 crore farm loan waiver scheme, raising concerns from economists and the Reserve Bank of India (RBI) about its impact on credit culture and state finances.
Key Features of the Maharashtra Scheme
Total cost: ~₹35,000 crore
Beneficiaries: ~30 lakh farmers
20 lakh non-defaulters will receive an ₹50,000 incentive for timely repayment.
Cost breakdown:
₹20,000 crore for loan waiver of defaulters
₹15,000 crore incentive for regular borrowers
Why Governments Announce Farm Loan Waivers
Reduce farmers’ debt burden
Provide relief during agrarian distress
Enable farmers to restart productive investment
However, economists argue that such schemes often fail to provide long-term solutions.
Major Farm Loan Waiver Schemes in India
National Schemes
Agricultural and Rural Debt Relief Scheme (ARDRS), 1990
Covered loans from public sector banks and regional rural banks.
Maximum relief ₹10,000 per farmer.
Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS), 2008
Covered banks and cooperative credit institutions.
Focus on small and marginal farmers (≤5 acres).
Total spending on waivers in last 35 years: over ₹3 lakh crore.
Trend Since 2014
Farm loan waivers increased significantly after 2014–15.
10 states announced waivers worth about ₹2.4 lakh crore.
Many announcements occurred close to elections, according to RBI.
RBI’s Concerns
Weakening of Credit Culture: Farmers may delay repayment expecting future waivers. Creates moral hazard in the credit system.
Reduced Agricultural Lending: Banks become reluctant to provide fresh loans.
Rise in NPAs: Agricultural sector gross NPAs reached about 8.44% (2019).
Fiscal Burden on States: Waiver costs can reach 0.1% to 2% of state GSDP. Payments often spread over 3–5 years, affecting budgets.
The first-ever Khelo India Tribal Games (KITG) will be held from March 25 to April 6, 2026 in Chhattisgarh, announced by Union Sports Minister Mansukh Mandaviya.
Key Details
Host Cities: Raipur, Jagdalpur, and Surguja
Participants: Tribal athletes from most States and Union Territories of India.
Sports in the Games
Medal Sports (7): Athletics, Football, Hockey, Weightlifting, Archery, Swimming, and Wrestling.
Demonstration Sports: Mallakhamb andKabaddi
Organising Bodies
Ministry of Youth Affairs and Sports
Sports Authority of India
Indian Olympic Association
National Sports Federations and the Chhattisgarh State Organising Committee.
Mascot
“Morveer”
Derived from “Mor” (mine/our) and “Veer” (brave) in Chhattisgarhi.
Symbolises pride, courage and identity of tribal communities.
Note: A mascot is a person, animal, or object adopted by a group—such as a sports team, school, or brand—to represent them, foster a public identity, and bring good luck.
Significance
First national sports event dedicated exclusively to tribal athletes.
Aims to identify and nurture talent from tribal regions.
Strengthens grassroots sports under the Khelo India Scheme.
Prelims Pointers
Khelo India Scheme is a Central Sector Scheme launched in 2018.
The Khelo India Games were declared an “Event of National Importance” in 2020 under the Sports Broadcasting Signals Act, 2007.
[2023] Consider the following statements in respect of the 44th Chess Olympiad, 2022: It was the first time that Chess Olympiad was held in India. The official mascot was named ‘Thambi’. The trophy for the winning team in the open section is the Vera Menchik Cup. The trophy for the winning team in the women’s section is the Hamilton-Russell Cup. How many of the statements given above are correct? (a) Only one (b) Only two (c) Only three (d) All four
India’s defence PSU Bharat Electronics Limited (BEL) and space-tech startup Bellatrix Aerospace have signed an MoU to jointly develop Very Low Earth Orbit (VLEO) satellite systems.
What is VLEO (Very Low Earth Orbit)?
Altitude: About 150 km to 450 km above Earth.
Lower than Low Earth Orbit (LEO) satellites.
Satellites experience thin atmospheric drag, requiring propulsion systems to maintain orbit.
How VLEO Satellites Work
At low altitude, satellites face aerodynamic drag from the upper atmosphere.
Advanced propulsion systems provide continuous thrust to maintain orbital position.
Bellatrix will use electric/green propulsion technologies for station-keeping.
Key Features of VLEO Systems
High-Resolution Imaging: Closer proximity to Earth enables sub-meter imaging using smaller sensors.
Ultra-Low Latency Communication: Shorter signal distance enables faster data transmission and real-time communication.
Lower Launch Costs: Lower orbit requires less fuel to deploy satellites.
Reduced Space Debris: Failed satellites naturally re-enter and burn up due to atmospheric drag.
Aim of the Partnership
Develop indigenous VLEO satellite platforms and payloads.
Provide solutions for defence and civilian applications.
Combine PSU manufacturing capability with startup innovation.
Strategic Significance
Strengthens India’s self-reliance in space technology.
Enables high-resolution surveillance and intelligence gathering.
Useful for:
Border monitoring
Earth observation
Real-time communication systems.
Prelims Pointers
Bharat Electronics Limited (BEL) operates under the Ministry of Defence.
VLEO satellites orbit at lower altitude than conventional Earth-observation satellites, offering improved imaging and reduced debris risk.
[2011] An artificial satellite orbiting around the Earth does not fall down. This is so because the attraction of Earth (a) does not exist at such a distance. (b) is neutralized by the attraction of the moon. (c) provides the necessary speed for its steady motion. (d) provides the necessary acceleration for its motion
Why in the News Due to the West Asia conflict affecting shipments through the Strait of Hormuz, India is securing crude oil from alternative sources.
Key Points:
India imports about 88% of its crude oil needs; nearly half normally passes through the Strait of Hormuz.
Indian refiners are sourcing additional crude from:
United States
Russia
West Africa and Latin America.
Refineries have deferred maintenance shutdowns to maintain supply buffers.
A 30-day U.S. waiver (till April 5) allows delivery of already-loaded Russian oil cargoes to India.
Around 120 million barrels of Russian crude are currently in transit globally, some near India.
Concerns:
Alternative routes may increase freight and insurance costs.
Rising oil prices could increase India’s import bill, widen the current account deficit, and pressure the rupee.
Every $10 rise in crude prices may raise inflation by ~20–25 basis points.
[2011] In the context of global oil prices, “Brent crude oil” is frequently referred to in the news. What does this term imply? It is a major classification of crude oil. It is sourced from the North Sea. It does not contain sulphur. Select the correct answer using the code given below: (a) 2 only (b) 1 and 2 only (c) 1 and 3 only (d) 1, 2 and 3
