28th July 2026

Explanation – The Crypto-Asset Reporting Framework is an international tax transparency framework developed by the OECD to facilitate the reporting and automatic exchange of information relating to crypto-asset transactions. Its primary objective is to ensure that tax authorities receive accurate information on crypto transactions undertaken by taxpayers across jurisdictions, thereby reducing opportunities for tax evasion.

The framework establishes:

• Standardised due diligence procedures
• Uniform reporting requirements
• Common definitions of reportable crypto-assets
• Mechanisms for the automatic exchange of information among participating countries

CARF complements existing international tax transparency standards and extends reporting obligations to crypto-assets that were previously outside the scope of conventional financial reporting systems.

Explanation – BitChat is a decentralised, peer-to-peer messaging application operating over Bluetooth mesh networks. It requires no internet connection, no servers, and no phone numbers — unlike traditional messaging apps dependent on centralised infrastructure that can be monitored or disabled.

Each device functions as both client and server, automatically discovering nearby peers and relaying messages across multiple hops to extend network reach. It offers censorship resistance, surveillance resistance, and infrastructure independence, remaining functional during internet outages, natural disasters, protests, or in low-connectivity regions.

Explanation – PRAXIS is an acronym of 'Planetary Rings Autonomous EXploration with In-situ Sampling' and is designed to collect and study ring particles directly. It is conceptualised by NASA. It will transform understanding of ring structure and origins for Saturn (dense), Uranus and Neptune (tenuous), rings of other objects such as Centaurs Chariklo and Chiron.

It will consist of a bio-inspired robotic explorer driven by an AI model, and will be capable of directly sampling particles from planetary ring systems. It combines robotic autonomy for collision avoidance, precision sampling, and on-site analysis. It also uses technology inspired by sport casting to capture free-floating particles and miniaturised instruments for real-time scientific analysis.

Working of the Mission: Once it has picked a target particle, the spacecraft will perform a touch-and-go sample of the particle's surface using a long deployable boom, staying at a safe distance from the moving ring particles. Once it has a sample, the craft will move on to another region or gap in the rings to sample from another area. When it has a sample, small instruments will snag free-floating particles and the AI model will help measure particle size, porosity, and composition.

PRAXIS addresses a key Decadal priority by delivering the first direct observations of mm- to cm-scale ring particles (not all particles up to kilometre-sized moonlets).

Explanation – The International Film Festival of India (IFFI), founded in 1952, is among Asia's most prominent film festivals. It is held annually, currently in the state of Goa. Since 2004, starting from the 35th edition, the International Film Festival of India became globally competitive, and moved to its permanent venue Goa, and is being held during the months of November and December of each year.

The festival is conducted jointly by the Ministry of Information and Broadcasting, Directorate of Film Festivals and the Government of Goa. The idea of the International Film Festival of India is to celebrate films, the stories they tell and the people behind them.

Explanation – Gobind Sagar Lake is a manmade reservoir located in the Bilaspur district of Himachal Pradesh. The lake is named after Guru Gobind Singh, the tenth and last Sikh guru, who spent some time in the region during his military campaigns. It was created by the construction of the Bhakra Dam on the Sutlej River in the 1950s and 1960s. It is one of the deepest man-made lakes in the world. It is surrounded by lush green hills and the snow-capped peaks of the Himalayas. It is also the third-largest in the country concerning the storage of water.

To maintain the level of water, the flow of river Beas was channelized to Gobind Sagar by the Beas-Sutlej link, which was accomplished in 1976. It helps in supplying water for irrigation to the states of Himachal Pradesh, Punjab, Haryana, and Rajasthan, significantly benefiting agriculture in the region.

Flora and Fauna: In 1962, the lake was recognised as the 'waterfowl refuge.' Even today, the lake is home to many species of birds and animals like Panther, Wolf, Chausinga, Sambar, Hyena, Sloth bear, Nilgai, Chinkara, and wild boar. It is home to fifty species and sub species of fishes, namely Tor Putitora (Mahasheer), Labeo Dero (Gid), Mystus Seenghala (Singhara), and mirror carp.