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Type: Prelims Only

  • Historical and Archaeological Findings in News

    Rewriting the Keezhadi (Keeladi) Excavations Report

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Why in the News?

    The Archaeological Survey of India (ASI) has asked to resubmit his excavation report on the Keeladi site near Madurai after making necessary corrections.

    ASI’s Concerns with the Report:

    • The ASI asked for better scientific justification for the period of 8th century BCE to 5th century BCE.
    • It said the earliest period could be more accurately dated to pre-300 BCE.
    • The ASI said that depth data alone was not enough — each scientific date should also mention the layer number to allow for stratigraphic consistency.

    About Keezhadi Excavations:

    • Location: Keezhadi is a village in Sivaganga district, located about 12 km southeast of Madurai, along the Vaigai River in Tamil Nadu.
    • Excavations: Excavations began in 2014, led by archaeologist Amarnath Ramakrishna, to uncover urban signs from the Sangam Age.
    • Period Link: The site is associated with the Sangam period (3rd century BCE to 3rd century CE), and findings may push it back to 800 BCE.
    • Civilisation Context: Keezhadi is now seen as part of the Vaigai Valley Civilisation, with evidence of urbanisation, trade, and early literacy.

    Key Findings from Keezhadi:

    • Period: Charcoal samples dated to around 200 BCE; some artefacts range between the 6th century BCE and 1st century BCE using the Accelerator Mass Spectrometry (AMS) dating.
    • Tamil Brahmi Inscriptions: Over 120 potsherds with early Tamil Brahmi script indicate literacy during the Sangam period.
    • Pottery and Craftsmanship: Discovery of pottery, gold ornaments, copper tools, shell bangles, and ivory combs show local industry and artistic skill.
    • Trade and Imports: Agate and carnelian beads suggest access to imported materials and long-distance trade.
    • Recreational Items: Dice and game pieces were found, indicating leisure activities in the society.
    • Industrial Activity: Evidence of dyeing units and bead-making points to a flourishing economy.
    • Cultural Continuity: Artefacts show a transition from the Iron Age to the Early Historic Period.
    • Possible Indus Link: Some symbols on potsherds resemble Indus Valley signs, hinting at cultural connections, despite a 1,000-year gap.
    [UPSC 2013] Though not very useful from the point of view of a connected political history of South India, the Sangam literature portrays the social and economic conditions of its time with remarkable vividness. Comment.

    [UPSC 2023] Which one of the following explains the practice of Vattakirutal’ as mentioned in Sangam poems?

    Options: (a) Kings employing women bodyguards (b) Learned persons assembling in royal courts to discuss religious and philosophical matters (c) Young girls keeping watch over agricultural fields and driving away birds and animals (d) A king defeated in a battle committing ritual suicide by starving himself to death*

     

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  • Festivals, Dances, Theatre, Literature, Art in News

    INSV Kaundinya

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: INSV Kaundinya

    Why in the News?

    The Indian Navy has formally inducted a traditional stitched sail ship, named INSV Kaundinya, at a ceremony held at the Naval Base in Karwar.

    INSV Kaundinya

    About INSV Kaundinya:

    • Induction: It is a newly inducted, stitched sail ship of the Indian Navy, formally inducted at Karwar Naval Base.
    • Design: The ship is based on a 5th-century design shown in a painting from the Ajanta Caves.
    • Construction Method: Built using ancient Indian shipbuilding techniques, including coconut fibre stitching, wooden joinery, coir ropes, natural resins, and cotton sails.
    • No Modern Additions: It has no metal parts, no modern rudder, and is powered by square sails and steering oars.
    • Cultural Symbols: Features include the Gandabherunda (two-headed eagle of the Kadamba dynasty), a Simha Yali on the bow, and a Harappan-style stone anchor.
    • Sail Plan: The vessel has 3 masts — the main mast, mizzen mast, and bowsprit mast.
    • Planned Voyage: A 15-member Indian Navy crew will sail it to Oman by late 2025, retracing ancient maritime trade routes.
    • Project Partners: This heritage revival project is supported by the Ministry of Culture, Indian Navy, and Hodi Innovations Pvt. Ltd.

    Legend of Kaundinya and Queen Soma:

    • Kaundinya is regarded as the first known Indian sailor to cross the seas over 2,000 years ago.
    • He is credited with founding the kingdom of Funan (in present-day Cambodia and South Vietnam) through a historic alliance with Queen Soma.
    • Their story is recorded in Cambodian, Vietnamese, and Chinese sources, though not in Indian texts.
    • Future dynasties like the Khmer and Cham traced their origins to this union.
    [UPSC 2003] Consider the following statements:

    1. The Cholas defeated Pandya and Chera rulers and established their domination over peninsular India in the early medieval times.

    2. The Cholas sent an expedition against Sailendra empire of South East Asia and conquered some of the areas.

    Which of these statements is/are correct?

    Options: (a) Only 1 (b) Only 2 (c) Both 1 and 2* (d) Neither 1 nor 2

    https://www.thehindu.com/news/national/navy-inducts-stitched-sail-ship-as-insv-kaundinya/article69601911.ece

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  • Climate Change Negotiations – UNFCCC, COP, Other Conventions and Protocols

    [pib] International Day for Biological Diversity, 2025

    Prelims Only | Enviro & Biodiversity | Mains Paper 3: Conservation, Environmental Pollution & Degradation, Eia

    Why in the News?

    India has celebrated the International Day for Biological Diversity 2025 in Udaipur.

    About International Day for Biological Diversity (IDB):

    • Annual Observance: The IDB is celebrated every year on May 22 to raise awareness about the importance of biodiversity conservation.
    • Significance: The date marks the adoption of the Convention on Biological Diversity (CBD) in 1992.
    • 2025 Theme: ‘Harmony with Nature and Sustainable Development’.
    • Key Highlights: India showcased its global leadership through:

    Back2Basics: Convention on Biological Diversity (CBD)

    • Adoption: The CBD was adopted at the Rio Earth Summit in 1992 and came into force on December 29, 1993.
    • Membership: Its secretariat is located in Montreal, Canada, and the convention has been ratified by 196 countries. The USA has signed but NOT ratified it.
    • India and CBD:
      • India became a party to the CBD on February 18, 1994, and is recognised as a leader among developing countries in biodiversity conservation and policy implementation
      • India hosted the 11th Conference of the Parties (COP-11) to the CBD in Hyderabad in 2012, showcasing its commitment and capacity in biodiversity governance
    • Core Objectives:
      • Conservation of biodiversity
      • Sustainable use of its components
      • Fair and equitable sharing of benefits from genetic resources
    • Functioning: The CBD is governed by the Conference of the Parties (COP), which meets every 2 years.
    • Latest Development (COP16, 2024): Held in Cali, Colombia, COP16 introduced a benefit-sharing mechanism for Digital Sequence Information (DSI) to ensure rewards for local communities.
    • Related Protocols:
      • Cartagena Protocol (2000): Regulates cross-border movement of living modified organisms (LMOs); effective from 2003.
      • Nagoya Protocol (2010): Ensures fair access and benefit-sharing for genetic resources.

    India’s Biodiversity Profile:

    • India is one of 17 mega-diverse countries in the world.
    • It covers an area of 329 million hectares and is the 9th largest country globally.
    • India is home to:
      • Over 1,00,000 animal species.
      • Around 55,000 plant species.
      • Ten bio-geographic regions.

     

    [UPSC 2023] Consider the following statements:

    1. In India, the Biodiversity Management Committees are key to the realization of the objectives of the Nagoya Protocol.

    2. The Biodiversity Management Committees have important functions in determining access and benefit sharing, including the power to levy collection fees on the access of biological resources within its jurisdiction.

    Which of the statements given above is/are correct?

    Options: (a) 1 only (b) 2 only (c) Both 1 and 2* (d) Neither 1 nor 2

     

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  • Climate Change Negotiations – UNFCCC, COP, Other Conventions and Protocols

    What are Shared Socioeconomic Pathways (SSPs)?

    Prelims Only | Enviro & Biodiversity | Mains Paper 3: Conservation, Environmental Pollution & Degradation, Eia

    Why in the News?

    A new ETH Zurich study warns that under the Shared Socioeconomic Pathway (SSP) 5-8.5 scenario, warming could make cyclones more intense and hit unusual regions with greater damage.

    What are Shared Socioeconomic Pathways (SSPs)?

    • Definition: SSPs are 5 global scenarios that show how changes in society, economy, and technology might influence climate adaptation and mitigation.
    • Purpose: They complement Representative Concentration Pathways (RCPs) by adding socioeconomic context to climate models.
    • Development: Created in the late 2000s, published in 2016, and used in the IPCC 6th Assessment Report and CMIP6 models.
    • Function: SSPs assume no new climate policies, helping scientists explore how global trends affect emissions and climate action.
    • The Five Pathways:
      1. SSP1: Sustainable and equitable world
      2. SSP2: Continuation of current trends
      3. SSP3: Regional rivalry with high population growth
      4. SSP4: Unequal world with high disparities
      5. SSP5: Fossil-fuel-based rapid economic growth
    • Usage: SSPs are used with RCPs to explore how different futures could affect the 1.5°C or 2°C warming targets.
    • Significance: They help policymakers assess how societal choices impact climate risks, emissions, and the feasibility of global goals.

    About SSP5-8.5 and Cyclone Risks:

    • Scenario Summary: SSP5 shows rapid economic growth fuelled by fossil fuels.
    • Radiative Forcing: SSP5-8.5 implies 8.5 W/m² of energy, compared to about 2.7 W/m² today.
    • Climate Target Gap: To limit warming below 2°C, forcing must stay around 2.6 W/m².
    • Cyclone Projections: Using the CLIMADA (climate adaptation) AI model, scientists studied past cyclone patterns and projected risks from 2015–2050.
    • Ecoregion Types:
      1. Resilient: Often affected, but recover quickly
      2. Dependent: Moderately impacted and adaptive
      3. Vulnerable: Rarely hit but slow to recover
    • Findings:
      • Time between severe cyclones in resilient areas may drop from 19 to 12 years.
      • East Asia, Central America, and the Caribbean will face stronger, more frequent cyclones.
      • Madagascar, Oceania, and the Philippines will face unprecedented cyclone activity.

    Impact on Mangroves and Coastal Ecosystems:

    • Mangrove Risk: By 2100, up to 56% of global mangroves could be at high to severe risk.
    • Most Affected Region: Southeast Asia, with 52–78% of mangroves at risk.
    • Other Scenario Impact (SSP3-7.0): Even under less severe warming, 97–98% of protective mangroves in Southeast Asia could still face critical threats.
    • Environmental Concern: These losses would severely weaken coastal protection, biodiversity, and carbon storage.
    [UPSC 2020] Consider the following statements:

    1. Jet streams occur in the Northern Hemisphere only. 2. Only some cyclones develop an eye. 3. The temperature inside the eye of a cyclone is nearly 10°C lesser than that of the surroundings.

    Which of the statements given above is/are correct?

    Options: (a) 1 only (b) 2 and 3 only (c) 2 only* (d) 1 and 3 only

     

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  • Global Geological And Climatic Events

    World’s most powerful Solar Particle Storm struck Earth 14,300 years ago

    Prelims Only | Geography | Mains Paper 1: Important Geophysical Phenomena

    Why in the News?

    Scientists have discovered that a massive solar storm hit Earth around 12,350 BC, making it the most powerful solar event ever detected.

    What are Solar Particle Storms?

    • About: A solar storm is a disturbance caused by solar flares or coronal mass ejections that release charged particles into space.
    • Solar Particle Storm: It is a type of solar storm where high-energy particles travel toward Earth, producing cosmogenic isotopes like radiocarbon.
    • Detection: These isotope spikes are recorded in tree rings and are known as Miyake events, which act as cosmic timestamps.
    • Impact: Though rare, solar particle storms can severely affect satellites, communication systems, and power grids.
    • Historical Events: Major solar particle storms were identified in AD 994, 663 BC, 5259 BC, and 7176 BC.
    • Carrington Event (1859): This was a major solar storm, but not a particle storm—it resulted from a different solar mechanism.

    How was the ancient storm detected?

    • Methodology: A solar storm from 12,350 BC was discovered using tree-ring data from the French Alps.
    • Event Strength: This storm was over 500 times stronger than the 2005 solar storm, the largest in the satellite era.
    • What are its implications?
      • Significance: This is the first known extreme solar event before the Holocene, predating the last 12,000 years of stable climate.
      • Modern Relevance: The discovery highlights the risks of future extreme solar activity on Satellite infrastructure and Space Application.
      • Significance: Miyake events improve the precision of archaeological dating, helping better understand ancient human history.
    [UPSC 2022] If a major solar storm (solar flare) reaches the Earth, which of the following are the possible effects on the Earth?

    1. GPS and navigation systems could fail.

    2. Tsunamis could occur at equatorial regions.

    3. Power grids could be damaged.

    4.  Intense auroras could occur over much of the Earth.

    5. Forest fires could take place over much of the planet.

    6. Orbits of the satellites could be disturbed.

    7. Shortwave radio communication of the aircraft flying over polar regions could be interrupted.

    Select the correct answer using the code given below:

    Options: (a) 1 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2, 3, 4, 6 and 7*

    Tap to know more about the answer.

     

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  • Cyber Security – CERTs, Policy, etc

    [pib] DoT introduces Financial Fraud Risk Indicator (FRI)

    Prelims Only | Security Issues | Mains Paper 3: Cyber Security

    Why in the News?

    In a major move to fight cyber fraud and financial crime, the Department of Telecommunications (DoT) has launched the Financial Fraud Risk Indicator (FRI) as a part of the Digital Intelligence Platform (DIP).

    Back2Basics: Digital Intelligence Platform (DIP)

    • DIP is developed by the Department of Telecommunications (DoT) as a secure, integrated platform for real-time intelligence sharing.
    • Stakeholders Involved: It connects Telecom Service Providers (TSPs), law enforcement agencies (LEAs), banks, financial institutions, social media platforms, and identity document issuers.
    • Functionality: The platform contains information on telecom resource misuse and supports case tracking and coordinated action.
    • Sanchar Saathi Integration: DIP acts as a backend system for citizen requests submitted through the Sanchar Saathi portal.
    • Access Control: DIP is available only to authorized stakeholders via secure connections and is NOT accessible to public.

    What is the Financial Fraud Risk Indicator (FRI)?

    • Purpose: FRI is a risk-based tool that flags mobile numbers as Medium, High, or Very High risk for financial fraud.
    • Data Sources: It pulls inputs from the National Cybercrime Reporting Portal (NCRP), DoT’s Chakshu Platform, and banking institutions.
    • Beneficiaries: Helps banks, NBFCs, and UPI service providers implement added security for high-risk numbers.
    • How It Works:
      • The Digital Intelligence Unit (DIU) shares a Mobile Number Revocation List (MNRL) with reasons like cybercrime, failed verification, or excess usage.
      • The tool performs multi-dimensional analysis and assigns a fraud risk level.
      • Risk status is shared in real-time via DIP, enabling early action before fraud occurs.

    Case Study: PhonePe’s use of FRI System

    • PhonePe was one of the first adopters of the FRI system.
    • It uses FRI to:
      • Block transactions linked to Very High-risk numbers.
      • Display alerts using the PhonePe Protect feature.
    • For Medium-risk numbers, PhonePe is working on showing proactive user warnings before transactions.
    • The tool has proven highly accurate in identifying numbers involved in cyber fraud.

     

    [UPSC 2021] Which one of the following effects of the creation of black money in India has been the main cause of worry to the Government of India?

    Options: (a) Diversion of resources to the purchase of real estate and investment in luxury housing (b) Investment in unproductive activities and purchase of precious stones, jewelry, gold, etc. (c) Large donations to political parties and the growth of regionalism (d) Loss of revenue to the State Exchequer due to tax evasion*

     

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  • Festivals, Dances, Theatre, Literature, Art in News

    Shirui Lily Festival in Manipur

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Why in the News?

    The Shirui Lily Festival has commenced in Manipur after a two-year gap caused by the ongoing conflict in the state.

    About Shirui Lily Festival

    • Organiser: The festival is conducted by the Department of Tourism, Government of Manipur.
    • Launch: It was first held in 2017 and is now one of Manipur’s two major tourism festivals (the other being the Sangai Festival).
    • Origin: Named after the Shirui Lily (Lilium mackliniae), the State Flower of Manipur.
    • Location: The event is held in Ukhrul district, home to the Tangkhul Naga community.
    • Purpose: It aims to raise awareness about the Shirui Lily and promote eco-tourism in the hill regions of Ukhrul.
    • Key Activities: The festival includes cultural performances, music concerts, a beauty pageant, a cooking competition, and a trash collection marathon.

    About the Shirui Lily Flower:

    • Habitat: The Shirui Lily grows only in the upper reaches of the Shirui Hill range in Ukhrul district, at an altitude of 2,673 metres.
    • Local Name: It is locally known as ‘Kashong Timrawon’, named after a mythical hill guardian.
    • Discovery: British botanist Frank Kingdon-Ward identified it in 1946 and named it Lilium mackliniae after his wife Jean Macklin.
    • Conservation Status: Classified as Endangered by the IUCN. (It is not listed by CITES or Wildlife Protection Act, 1972. Shirui National Park is named after it.
    • Threats: The flower faces threats from climate change, human encroachment, resource exploitation, and invasion by wild dwarf bamboo.

     

    [UPSC 2018] Consider the following pairs:

    Tradition– State

    1. Chapchar Kut festival — Mizoram

    2. Khongjom Parba ballad — Manipur

    3. Thong-To dance — Sikkim

    Which of the pairs given above is/are correct?

    Options: (a) 1 only (b) 1 and 2* (c) 3 only (d) 2 and 3

     

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  • [pib] 150 Years of Metre Convention 

    IOCRPrelims Only | International Relations | Mains Paper 2: Bilateral, Regional and Global Groupings and agreements involving India

    Why in the News?

    On May 20, 2025, the Department of Consumer Affairs celebrated World Metrology Day, marking the 150th anniversary of the signing of the Metre Convention in Paris on May 20, 1875.

    About the Metre Convention:

    • Inception: Also called the Treaty of the Metre, it was signed in Paris on May 20, 1875, to establish a global system of standardised measurements.
    • 17 Founding Members: Argentina, Austria-Hungary, Belgium, Brazil, Denmark, France, Germany, Italy, Peru, Portugal, Russia, Spain, Sweden and Norway, Switzerland, Ottoman Empire (Turkiye), USA, and Venezuela.
    • Institutions Created: The treaty established the International Bureau of Weights and Measures (BIPM), and two governing bodies—CGPM (General Conference on Weights and Measures) and CIPM (International Committee for Weights and Measures).
    • Early Prototypes: It created international prototypes of the metre and kilogram, stored at the BIPM; member countries received national copies for comparison.
    • Expansion in 1921: The Convention was extended to cover all physical quantities, forming the basis for the International System of Units (SI).
    • Global Reach: As of October 2024, there are 64 member states in the Convention.
    • Collaboration: International Atomic Energy Agency (IAEA), Institute for Reference Materials and Measurements (IRMM), World Meteorological Organization (WMO), European Space Agency (ESA) participate in the CIPM Mutual Recognition Arrangement (MRA).

    India and the Convention:

    • Membership: India joined the Metre Convention in 1957 after passing the Standards of Weights and Measures Act, 1956.
    • Participation Benefits: India gained the ability to participate in BIPM work, align with global systems, and ensure international recognition of its standards.
    • Recent Milestone: India is now the 13th country authorized to issue OIML (International Organisation of Legal Metrology) Certificates.
    [UPSC 2007] Consider the following statements:

    1. The series of the International Paper Sizes is based on A0 size whose area is 0.5 m² (approximately).

    2. The area of A4 size paper is 1/8th of that of the A0 size paper.

    Which of the statements given above is/are correct?

    Options: (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 *

     

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  • Innovations in Sciences, IT, Computers, Robotics and Nanotechnology

    Hoyle–Narlikar Theory of Gravity

    Prelims Only | Science Tech | Mains Paper 3: Achievements Of Indians In S&T

    Why in the News?

    Jayant Narlikar, renowned Indian astrophysicist and Padma Vibhushan awardee, who co-developed the Hoyle–Narlikar Theory to refine Einstein’s Theory of Relativity, passed away in Pune at the age of 87.

    About Jayant Narlikar and His Contributions:

    • Early Life: Born in 1938 in Kolhapur, Maharashtra, and pursued a PhD at Cambridge University under Fred Hoyle.
    • Scientific Influence: Hoyle had earlier developed the steady-state theory with Bondi and Gold and coined the term “Big Bang” sarcastically in 1948.
    • Narlikar’s Belief: He argued that the universe always looks the same, as new matter fills the gaps created by expansion.
    • Critique of Big Bang: He believed the Big Bang theory includes unproven assumptions, especially about the sudden origin of all matter and energy.
    • Enduring Work: Despite steady-state theory’s decline, Narlikar’s contributions remain respected for their scientific depth and originality.

    What Is the Hoyle–Narlikar Theory?

    Fred Hoyle and Jayant Narlikar developed a theory to answer one of the most basic questions: Why do things have mass, and how are they connected to the rest of the universe?

    • Based on Mach’s Principle: They believed your mass isn’t just something you have on your own. Instead, it depends on your connection to everything else in the universe. That means even faraway stars and galaxies play a role in what you weigh.
    • Inertia Explained: In simple terms, when you feel resistance while trying to move (inertia), it’s because of the gravitational pull of all the matter in the universe acting on you at once.
    • Mass is Relative: Earth, the Sun, or even you don’t have a fixed mass. That mass is influenced by everything else that exists out there, no matter how far away it is.
    • C-field and Steady-State Model
      • New Idea – C-Field: They introduced the “creation field”, which creates new matter in space.
      • Universe Without a Start: Their steady-state theory says the universe has no beginning or end, is always expanding, and keeps its density constant.
      • Against the Big Bang: They believed the Big Bang couldn’t explain everything we see today.
      • Hydrogen Creation: They said hydrogen atoms form in space to fill in the gaps as the universe grows.
    • Issues with the Theory:
      • CMB Discovery (1965): Scientists found cosmic microwave background radiation, strong proof of the Big Bang.
      • Other Evidence: Later discoveries like young, chaotic galaxies and studies by Hawking and Penrose supported the Big Bang.
      • Current View: The Big Bang theory became more accepted, but Hoyle and Narlikar’s ideas are still respected for their scientific value.
    [UPSC 2018] Consider the following phenomena:

    1. Light is affected by gravity.

    2. The Universe is constantly expanding.

    3. Matter warps its surrounding space-time.

    Which of the above is/are the prediction/predictions of Albert Einstein’s General Theory of Relativity, often discussed in media?

    Options: (a) 1 and 2 only (b) 3 only (c) 1 and 3 only (d) 1, 2 and 3*

     

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  • Capital Markets: Challenges and Developments

    RBI revises rules for investment in Alternative Investment Funds (AIFs)

    Prelims Only | Economics | Mains Paper 3: Investment Models

    Why in the News?

    The RBI has released revised draft guidelines for investments made by Regulated Entities (REs) in Alternative Investment Funds (AIFs) to ensure better regulatory oversight, prevent misuse of funds, and align with the rules already set by SEBI.

    What are Alternative Investment Funds (AIFs)?

    • Definition: They are unique investment vehicles that are privately pooled and invested in alternative asset classes such as venture capital, private equity, hedge funds, commodities, real estate, and derivatives.
    • Regulation: They are governed by SEBI under the SEBI (Alternative Investment Funds) Regulations, 2012.
    • Working: It can be formed as a trust, company, Limited Liability Partnership (LLP), or any other SEBI-permitted structure.
    • Legal Structure: They can be set up as trusts, companies, Limited Liability Partnership (LLP), or other legally permitted forms.
    • Investor Base:
      • AIFs are meant for High Net-Worth Individuals (HNIs) and institutional investors, NOT small retail investors.
      • Resident Indians, NRIs, and foreign nationals can invest.
    • Minimum Investment Requirement:
      • The minimum investment size is ₹1 crore (SEBI, May 2024), except for accredited investors as defined by SEBI.
      • For employees or directors of the AIF or its manager, the minimum investment is ₹25 lakh.
      • An AIF must have a minimum corpus of ₹20 crore (₹10 crore for Angel Funds).

    Types of AIFs: 

    1. Category I: These funds invest in early-stage unlisted companies in the form of equity or debt (venture capital). These alternative asset funds can also invest in infrastructure-based projects or social ventures.
    2. Category II: These types of funds invest in equity or debt of unlisted companies that are in the mid or late stage of growth and are known as private equity or pre-IPO, respectively.
    3. Category III: This category of funds invests in the shares of listed companies. These alternative strategy funds can be for any period, long only or a combination of long and short.
    [UPSC 2014] What does Venture Capital mean?

    Options: (a) A short-term capital provided to industries. (b) A long-term start-up capital provided to new entrepreneurs* (c) Funds provided to industries at times of incurring losses. (d) Funds provided for replacement and renovation of industries.

     

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