Notes:
Reserve Bank of India recently released a discussion paper on revised regulatory framework for Non-Banking Financial Companies (NBFCs).
As per the paper, the regulatory and supervisory framework of NBFCs shall be based on a four-layered structure namely Base Layer, Middle Layer, Upper Layer and a possible Top Layer. RBI also recommended more power for the NBFC Boards on capital and risk management.

Notes:
The Toshali National Crafts Mela is annually organised in the state of Odisha. This year, the Odisha Chief Minister Naveen Patnaik recently inaugurated the event.
Many artisans from across the state and from many parts of the counry showcased their products in the handloom and handicraft fair. State Handicrafts Award and State Kalakruti Award were also presented to exceptional artisans.

Notes:
The first edition of the exercise Desert Knight-21 was organised at Jodhpur Air Force Station, Rajasthan, from January 20 to 24, 2021.
Four French Rafale fighters, Airbus A-330 Multi-Role Tanker Transport (MRTT), A-400M Tactical Transport aircraft participated from the French side. Mirage 2000, Su-30 MKI, Rafale, IL-78 Flight Refuelling Aircraft, AWACS and AEW&C aircraft participated from the IAF.

Notes:
The Union Ministry of Road Transport & Highways (MoRTH) and Indian Institute of Technology (IIT), Roorkee has signed a Memorandum of Understanding (MoU) to continue the MoRTH Professorial Chair focusing on research and development.
The Chair focusses on teaching and training in the field of Development of Highway Infrastructure. The Ministry aims to develop indigenous technologies to lower cost of construction and reduce construction period of transport projects.

Notes:
The Jammu and Kashmir administration approved the adoption of a new policy named ‘Land Allotment Policy 2021-30’.
The policy aims to lay down a framework to regulate zoning of industrial areas. It will also cover land allotment for health institutions and educational institutions. The policy aims to promote fair industrial growth in the UT.