29th August 2026

Explanation - The U.S. currently holds about 606 million barrels in dozens of caverns in four heavily guarded locations on the Louisiana and Texas coasts. That’s enough oil to meet US demand for more than a month. The country also maintains small heating oil and gasoline reserves in the US Northeast.

Besides the United States, the other 29 member countries in the International Energy Agency (IEA), including the United Kingdom, Germany, Japan and Australia, are required to hold oil in emergency reserves equivalent to 90 days of net oil imports. Japan has one of the largest reserves after China and the United States. China, an associate member of the IEA and the world’s second-leading oil consumer, created its SPR 15 years ago (with about 200 million barrels of reserves) and held its first oil reserve auction in September.

Another IEA associate member, India, the third-biggest oil importer and consumer, also maintains a reserve. India’s strategic crude oil storages are currently located at Visakhapatnam (Andhra Pradesh), Mangaluru (Karnataka), and Padur (Karnataka). The government has also given approval for setting up of two additional facilities at Chandikhol (Odisha) and Padur (Karnataka).

Explanation - The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched in 2020. It is a Central Sector Scheme supporting street vendors through affordable working capital, financial inclusion and social protection measures. Key Features of PM SVANidhi Scheme — Working Capital Loan: Collateral-free loans of ₹15,000, ₹25,000, and ₹50,000 are provided in three progressive tranches with interest subsidy and credit guarantee support. UPI-linked RuPay Credit Cards: Vendors successfully repaying the second tranche are eligible for UPI-linked RuPay Credit Cards with limits up to ₹30,000. Digital Adoption: Cashback incentives of up to ₹1,600 are provided to street vendors for retail/wholesale digital transactions to encourage digital adoption and financial literacy. SVANidhi se Samriddhi (SSS):Socio-economic profiling of beneficiaries and their families is undertaken to link them with eight selected Central welfare schemes and create a holistic social security net. Capacity Building & Entrepreneurship Development: Vendors are provided with training in financial literacy, digital literacy, and food safety & hygiene in collaboration with FSSAI. Implementation: It is a joint responsibility of the Ministry of Housing and Urban Affairs (MoHUA) and the Department of Financial Services (DFS).

Explanation - The Security Action for Europe (SAFE) instrument is a joint borrowing scheme backed by the European Union (EU). The regulation setting up the SAFE instrument entered into force in 2025. It is aimed at boosting the bloc's defence capabilities and helping member states meet new, more ambitious NATO spending targets. Focus: The assistance helps EU member states make rapid and significant increases in their defence investments through common procurement. Loan: Through this instrument, the EU is providing financial assistance in the form of loans worth up to €150 billion. Fund Allocation — The instrument finances urgent and large-scale investments in the European defence technological and industrial base. Allocation of the budget is demand-driven. Disbursements take the form of competitively priced long-maturity loans, to be repaid by the beneficiary EU member states. While only Member States can obtain SAFE loans, the following countries may participate in common procurement: EU acceding, candidate, and potential candidate countries; Countries that have signed Security and Defence Partnerships with the EU, such as Albania, Canada, India (signed in 2026), Japan, Moldova, North Macedonia, Norway, South Korea, and the United Kingdom.

Explanation - Buckingham Canal is running along the east coast of India. Together with the Krishna and Godavari irrigation canal systems, was once a continuous, navigable stretch. Economic lifeline: It was once the only main route by which bulky commodities, such as fuel, salt, and dried fish, could be profitably brought to the city of Madras (now Chennai) in Tamil Nadu state. Historical Background — It was originally constructed in 1806 by Basil Cochrane and privately owned and operated by him; the waterway was then called Cochrane Canal. It was taken over by the government in 1837 and named it as East Coast Canal and extended in 1857 to Dugarajapatnam (in Tirupati district of Andhra Pradesh) In 1878, it acquired the present name after the Governor of Madras, the Duke of Buckingham and Chandos. Issues — It is faced with encroachment and severe pollution woes with untreated sewage and solid waste.

Explanation - It is located in the foothills of the Himalayas in the Nainital district of Uttarakhand. It is a part of the Corbett Tiger Reserve. It was established in 1936 as Hailey National Park and was later renamed in 1957 in memory of Jim Corbett, a famous hunter turned conservationist, who played a key role in the establishment of the park. It is not only the first national park in India but also the first to come under the Project Tiger It is spread over the Bhabar and lower Shivalik regions with a deep-water table. The tract is porous with boulders and sand deposits. Drainage — The Ramganga River (West) and its important tributaries - Sonanadi, Palain, and Mandal, constitute the primary water source for the region. Additionally, the Kosi River runs adjacent to the national park. Vegetation — North Indian tropical moist deciduous forests and tropical dry deciduous forests: Flora — In general, the park comprises sal and mixed forests, interspersed with grasslands and riparian vegetation. The grasslands are locally known as ‘Chaur’, which are an outcome of abandoned settlements or past clearings. Evergreen Sal and its combined trees, the Sheesham and the Kanju, are found extensively on the ridges. Fauna — Tigers, elephants, leopards, sambar, hog deer, spotted deer, etc.