Notes:
The Reserve Bank of India (RBI) has recently announced the phased discontinuation of the Incremental Cash Reserve Ratio (I-CRR), which was introduced on August 10, 2023.
The I-CRR was implemented to absorb surplus liquidity caused by various factors, including the return of Rs 2,000 notes to the banking system. The RBI aims to release I-CRR funds gradually to avoid shocks to system liquidity and ensure orderly money market functioning.

Notes:
India and the United States of America have reached an agreement to settle their longstanding World Trade Organisation (WTO) poultry dispute. This resolution was announced in a joint statement following a meeting between Indian Prime Minister and US President.
As part of the settlement, India will reduce tariffs on various American products, including frozen turkey, frozen duck, fresh, frozen, dried, and processed blueberries and cranberries.

Notes:
The Reserve Bank of India (RBI) has recently called upon fintech entities to establish Self-Regulatory Organizations (SROs).
These SROs serve as non-governmental entities responsible for creating and enforcing industry-specific codes of conduct on transparency, fair competition, and consumer protection. They would act as intermediaries between regulators and market participants.

Notes:
A new report from the United Nations has emphasized the urgency of addressing climate change, stating that the window of opportunity to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels is rapidly closing.
The report, part of the Global Stock take (GST) mandated by the Paris Agreement, highlights that while some progress has been made, countries are far from achieving the necessary targets to meet this goal.

Notes:
The US Space agency NASA has announced that its Mars Oxygen In-Situ Resource Utilization Experiment (MOXIE) which is on board the Perseverance Mars Rover has been successful in generating oxygen in Mars. The equipment demonstrated its ability to convert Martian carbon dioxide (CO2) into oxygen.
This technology breakthrough could play a crucial role in future human missions to Mars, providing a sustainable source of breathable air and rocket propellant.