Goa Liberation Day | Securities Markets Code Bill 2025 | New Logo for Regional Rural Banks (RRBs) | Andhra’s Rare Earth Corridor | Ratle Project | RESPOND Basket 2025

Goa Liberation Day

History & Culture

Context

• December 19 marks the day Goa was liberated from Portuguese rule and formally integrated into India in 1961.

Goa Liberation Day

• First capture (1510): Albuquerque seized Goa with help from the local chieftain Timoji.
• Loss of Goa: Adil Shah’s forces recaptured Goa during the monsoon.
• Final conquest (November 1510): Albuquerque returned with reinforcements and decisively defeated Bijapur forces.

Reasons for Portuguese Success:

1. Superior naval power and artillery
2. Weak internal control of the Bijapur Sultanate
3. Local support from discontented groups
4. Effective leadership of Albuquerque

Impact:

• Goa became the capital of Portuguese India (Estado da Índia).
• It marked the beginning of European territorial colonialism in India.
• Goa emerged as a centre of trade, administration, and Christianity.
• Goa was the first Indian Territory to be captured by European power and last to get its independence.

Background:

• Following the country’s independence in 1947, the regime had major challenges to tackle: the integration of regions like Goa, Jammu and Kashmir, Hyderabad among others.
• The India government made several diplomatic outreach to persuade Portugal to hand over Goa peacefully.
• Portugal, which ruled Goa for 451 years, rejected all such requests.
• This led to the Goa Liberation Movement, with significant participation from local leaders and the public.

Operation Vijay

• Operation Vijay was launched by the Indian Armed Forces to annex Goa and amalgamate it with the rest of India during Jawaharlal Nehru’s tenure as Prime Minister.
• The operation lasted for over 36 hours and involved coordinated strikes by the Indian Armed Forces across air, sea, and land.
• Outcome: Portuguese forces surrendered on 19 December 1961, leading to Goa’s liberation along with Daman and Diu.
• On 30 May 1987, the Union Territory was split, and Goa was made India’s twenty-fifth state, with Daman and Diu remaining Union Territories.

Securities Markets Code Bill 2025

Economy

Context

• The Union Finance Minister introduced the Securities Markets Code Bill 2025 in the Lok Sabha.

Securities Markets Code Bill 2025

• The Bill proposes to consolidate the;

1. Securities Contracts (Regulation) Act, 1956,
2. Securities and Exchange Board of India (SEBI) Act, 1992, and
3. The Depositories Act, 1996.

Key Provisions

• Reforms in SEBI’s Composition: The strength of the SEBI Board is proposed to be increased from 9 to 15 members, including the Chairperson.

The reconstituted Board will include;

• The Chairperson.
• Two officials appointed by the Central Government.
• One ex-officio member from the Reserve Bank of India.
• Eleven other members, of whom at least five will be whole-time members. Currently there are three full-time members.

Additional Information – The Securities and Exchange Board of India (SEBI)

• It is the primary regulatory body for the securities and capital markets in India.
• Established as a statutory body in 1992,
• It operates under the Ministry of Finance.
• Chairman: Tuhin Kanta Pandey (as of 2025).
• Headquarters: Mumbai with regional offices in New Delhi, Kolkata, Chennai, and Ahmedabad.
• Objective: To protect investor interests, promote market development, and regulate the securities market.

Key Functions and Powers

• Protective: Prevents insider trading, price rigging, and fraudulent practices.
• Developmental: Promotes investor education and trains intermediaries to enhance market transparency.
• Regulatory: Drafts regulations, conducts audits, and registers market participants like brokers and mutual funds.

New Logo for Regional Rural Banks (RRBs)

Economy

In News

• The Government of India, in collaboration with NABARD, has unveiled a common logo for all Regional Rural Banks (RRBs) under the “One RRB, One Logo” initiative, marking a significant step towards unifying the identity of RRBs across the country.

“One RRB, One Logo” Initiative

• A reform measure to introduce a single, uniform visual identity for all 43 Regional Rural Banks operating in India.
• Implemented jointly by – Department of Financial Services (DFS), Ministry of Finance & National Bank for Agriculture and Rural Development (NABARD)

Objectives of the Initiative

• Unified Identity: Present RRBs as part of a single national banking system, rather than fragmented regional entities.
• Customer Trust: Improve public confidence by ensuring easy recognition and credibility.
• Operational Integration: Support recent amalgamation and consolidation of RRBs.
• Digital Readiness: Align RRB branding with modern banking and digital financial services.

Regional Rural Banks (RRBs)

• Established under – Regional Rural Banks Act, 1976
• Objective – to expand institutional credit in rural areas & serve small farmers, SHGs, artisans and MSMEs.

RRBs have a tripartite ownership pattern:

• Government of India – 50%
• Concerned State Government – 15%
• Sponsor Bank – 35%.

Andhra’s Rare Earth Corridor

Science & Technology

In News

• Andhra Pradesh’s 974-km-long coastline has gained strategic importance due to large reserves of rare earth elements (REEs) embedded in beach sand minerals.

Andhra’s Rare Earth Corridor

• Location – A continuous mineral-rich belt along Andhra Pradesh’s coast from Srikakulam (north) to Nellore (south).

Rich in beach sand minerals such as:

• Monazite (primary source of REEs and thorium)
• Ilmenite, rutile, zircon, garnet and sillimanite
• Note – Andhra Pradesh holds 30–35% of India’s total monazite reserves

Rare Earth Elements (REEs)

• They are a group of 17 elements, 15 lanthanides + scandium + yttrium.
• Though geologically abundant, they are termed “rare” because:
• They occur in low concentrations, and
• Their extraction and processing are complex, capital- and technology-intensive.

REEs are classified into:

• Light REEs (LREEs): lanthanum, cerium, neodymium, praseodymium, samarium, etc.
• Heavy REEs (HREEs): dysprosium, terbium, yttrium, etc.

Ratle Project

Economy

In News

• Recently, the Jammu and Kashmir Police informed Megha Engineering and Infrastructure Limited (MEIL) that 29 workers employed at the under-construction 850 MW Ratle Hydro Electric Project in Kishtwar had alleged militant links or criminal backgrounds.

The Ratle Hydroelectric Project (850 MW)

• Location: On the Chenab River near Drabshalla in Kishtwar district, Union Territory of Jammu and Kashmir.​
• Type and capacity: Run-of-the-river scheme with a total installed capacity of 850 MW and a 133 m high concrete gravity dam and associated underground power houses.​

RESPOND Basket 2025

Science & Technology

In News

• Recently, Indian Space Research Organisation (ISRO) launched the RESPOND Basket 2025.

RESPOND Basket 2025

• It invites submission of research proposals from various premier universities, and other recognised academic and R&D institutions in areas relevant to ISRO’s upcoming missions and national priorities.
• It supports ISRO’s upcoming projects, including Bharatiya Antariksh Station, Chandrayaan-4, Gaganyaan missions, Venus orbiter, and a human Moon landing.