11th October 2025

Explanation -
Pradhan Mantri Kisan Urja Suraksha Evam Uttham Mahabhiyan was launched in 2019. The scheme envisages income generation for farmers from their infertile land with the establishment of solar power plants. 

Aim —
To help farmers access reliable daytime solar power for irrigation, reduce power subsidies, and decarbonise agriculture. 

The Scheme consists of three components — 

• Component A — 10,000 MW of solar capacity through the installation of small Solar Power Plants of individual plants of capacity up to 2 MW. 

• Component B — Installation of 20 lakhs standalone Solar Powered Agriculture 

Explanation -
Income Tax Appellate Tribunal is a quasi-judicial institution set up in January, 1941 and specialises in dealing with appeals under the Direct Taxes Acts. It was started in 1941 with six Members constituting three Benches – one each at Delhi, Kolkata (Calcutta), and Mumbai (Bombay). Presently ITAT has 63 Benches at 27 different cities, covering almost all the cities having a seat of the High Court. 

Nodal Ministry —
It functions under the Ministry of Law and Justice. 

Composition of Income Tax Appellate Tribunal —
The President of the ITAT constitutes a bench from among the members of the ITAT. Each bench has an accountant member and a judicial member. In some cases, a special bench with three or more members may be constituted to dispose of income tax appeals. 

Functions of Income Tax Appellate Tribunal — 

• It hears appeals concerning orders passed by the income-tax authorities. 

• It adjudicates appeals made under the Income Tax Act of 1961. 

• ITAT serves as the final fact-finding body in tax disputes, offering both taxpayers and the income tax authorities a convenient platform to resolve disputes. 

• It is the second forum to hear income-tax appeals after the Commissioner of Income-tax (Appeals) 

• ITAT functions under the regional High Court's jurisdiction and must adhere to the rules of the same. 

• ITAT is subordinate to both the region's High Court and the Indian Supreme Court. 

Who can file an appeal in ITAT?
A tax appeal can be filed by a taxpayer who does not agree with the assessment order or any other order, passed by an income-tax authority. An appeal before the ITAT is generally filed by the taxpayer to contest any order passed by the Commissioner of Income-tax (Appeals). Similarly, an income-tax department can also file an appeal against any order passed by the Commissioner of Income-tax (Appeals) before the ITAT. The orders passed by the ITAT are final. An appeal lies to the High Court only if a substantial question of law arises for determination. 

Explanation - 
The International Financial Services Centres Authority (IFSCA), headquartered at GIFT City, Gandhinagar Gujarat, has been established under the International Financial Services Centres Authority Act, 2019. It works as a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India. At present, the GIFT IFSC is the maiden international financial services centre in India. 

Explanation -
Foreign Currency Settlement System is established under a comprehensive legal and regulatory framework of the Payment and Settlement Systems Act, 2007. It is authorised by International Financial Services Centres Authority (IFSCA). 

Key Features — 

• It enables foreign currency transactions between IFSC Banking Units (IBUs) to be settled locally instead of routing through the traditional correspondent banking route. 

• It provides a structured framework for the settlement of foreign currency transactions, enabling market participants to process cross-border payments with greater speed, reliability, and legal certainty. 

• Initially, the system will support US dollar transactions, with scope to add other foreign currencies over time. 

• It is operated by the CCIL IFSC Limited (CCIL IFSC), a subsidiary of Clearing Corporation of India Limited. 

Currently, foreign currency transactions in GIFT IFSC are processed via correspondent banking routes i.e through multiple Nostro account relationships (accounts held with foreign banks) and intermediaries to route funds. That chain of relay can lead to settlement lags of 36 to 48 hours. 

Explanation -
Metal–Organic Frameworks (MOFs) are three-dimensional networks made of metal ions linked by organic molecules. These structures contain large, porous cavities through which gases and liquids can flow, making them extremely adaptable for diverse applications such as gas storage, filtration, and catalysis. 

How MOFs Are Built?
In a MOF, metal ions act as anchors or joints in a scaffold, while organic molecules serve as flexible linkers connecting them. These organic linkers can form rings or chains and can be chemically tailored to give the framework specific properties, allowing fine control over structure and function. 

The Chemistry Behind the Design —
At their core, MOFs are built on basic bonding principles — atoms form bonds to achieve stability, usually by completing eight electrons in their outer shell. Atoms with fewer than four electrons tend to lose them. Atoms with more than four try to gain electrons. This process, determined by an element's valency, governs how metal ions and organic molecules link together. Carbon, the key element in organic compounds, can form stable rings and chains, enabling the creation of complex, customisable molecular frameworks that define MOFs.