News In Short 18-06-2026

India-Japan Adopt Rules of Implementation for Joint Crediting Mechanism under Paris Agreement

Syllabus: GS2/ IR, GS3/ Environment

Context

• India and Japan have adopted the Rules of Implementation for the Joint Crediting Mechanism (JCM) under Article 6.2 of the Paris Agreement.

About

• The mechanism provides a framework for collaboration on mitigation projects that reduce or remove greenhouse gas emissions while supporting sustainable development in India. 
• It will also contribute to the achievement of the Nationally Determined Contributions (NDCs) of both India and Japan under the Paris Agreement.
• The Rules of Implementation lay down governance arrangements for the mechanism, including
  • The establishment of a Joint Committee comprising representatives of both governments, 
  • Transparent project approval procedures, 
  • Third-party validation and verification processes, sustainable development safeguards and 
  • National registries for tracking the issuance and transfer of carbon credits.

Source: AIR

RBI Allows Banks to offer Higher Interest Rates to NRIs/PIOs to Mobilise Forex

Syllabus: GS3/Economy

Context

• As per the directions of RBI interest rates on NRE/NRO deposits will not be higher than those offered by the bank on comparable domestic rupee term deposits.

About

• It has decided to temporarily withdraw interest rate ceiling on fresh Foreign Currency Non-Resident- Bank [FCNR(B)] deposits of 3-5 year tenors and restriction on interest rates on Non-Resident External (NRE) deposits of three year and above tenors till September 30, 2026 to boost forex reserves. 
• Significance: This move will help Non Resident Indians (NRIs) and People of Indian Origin (PIOs) to avail higher interest rates from India banks to park their funds.
  • It will help India to mobilise dollars to swell its foreign exchange reserves that may lend support to a depreciating rupee and help meet balance of payment obligations.

Foreign Currency Non-Resident Bank

• A Foreign Currency Non-Resident Bank, or FCNR (B) account, means the deposit is held in a foreign denomination. This secures it against currency fluctuations.
• Only NRIs/PIOs/OCIs can open an FCNR (B) account and the NRI status should be as per Foreign Exchange Management Act (FEMA) rules.
• Deposits are maintained in foreign currencies such as USD, GBP, EUR, JPY, AUD, CAD, etc.
• It can only be a term deposit with maturities ranging from 1 year to 5 years.
• They are intended to attract foreign currency deposits from NRIs, helping India strengthen its foreign exchange reserves while providing NRIs protection against currency fluctuations.

Source: TH

High Energy Medical Cyclotron Project (HEMCP) in Nagpur

Syllabus: GS2/ Health, GS3/ Science and Technology

Context

• The Maharashtra Cabinet approved the establishment of the High Energy Medical Cyclotron Project (HEMCP) in Nagpur with an allocation of ₹300 crore.

What is a Medical Cyclotron?

• A medical cyclotron is a specialized particle accelerator that produces radioactive substances called radioisotopes for use in healthcare.
  • It works by accelerating charged particles, such as protons, to very high speeds using electric and magnetic fields.
  • These high-speed particles are then directed at a target material, triggering nuclear reactions that generate radioisotopes.
• The radioisotopes produced are used in:
  • PET (Positron Emission Tomography) scans and PET-CT imaging;
  • Various nuclear medicine diagnostic procedures;
  • Targeted radionuclide therapies for treating diseases such as cancer.
• Common medical radioisotopes include Fluorine-18 (F-18), Gallium-68 (Ga-68), Lutetium-177 (Lu-177) etc.

Source: TH

Bitumen

Syllabus: GS3/Economy

Context

• The recent conflict in West Asia has hit India’s push to expand road infrastructure as India imports 30-40% of Bitumen. 
  • Over 99% of India’s bitumen imports come from Iraq, UAE, Iran, Oman and Bahrain.

Bitumen

• Bitumen is a byproduct of crude oil, known for its waterproofing and adhesive properties.
• It is predominantly used in road construction and roofing.
• Canada has one of the largest natural deposits of bitumen in its oil sands, contributing significantly to global supply.
  • Other deposits of bituminous sands can be found in the United States, Venezuela, and Russia.
• It is produced in refineries to ensure purity, maintain consistent quality, and meet massive global construction demands at a lower cost.

Source: IE

The Universe’s Expansion Still Accelerating: Researchers

Syllabus: GS3/Space

Context

• After revisiting data involving a type of exploding star, a team of researchers says it has confirmed the notion that the universe ‌is expanding at an accelerated rate.
  • In the ​1990s, these observations led to the identification of an enigmatic cosmic force called dark energy.

Dark Matter and Dark Energy

• The content of the Universe is widely thought to consist of three types of substance: normal matter, dark matter and dark energy.
  • Roughly 68% of the universe is dark energy, dark matter makes up about 27% and the rest everything observed adds up to less than 5% of the universe.
• Dark Matter: Unlike normal matter, dark matter does not interact with the electromagnetic force. This means it does not absorb, reflect or emit light, making it extremely hard to spot.
  • Dark matter works like an attractive force, a kind of cosmic cement that holds the universe together. This is because dark matter does interact with gravity.
  • Since dark matter doesn’t emit, absorb or reflect light, astronomers can only study its gravitational effect on visible matter, such as stars and galaxies.
• Dark Energy: Dark energy is a repulsive force, a sort of anti-gravity  that drives the universe’s ever-accelerating expansion.
  • Dark energy is the far more dominant force than Dark matter.

Source: TH