July 1'st Week
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Financial Stability Report
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The Reserve Bank of India (RBI) has released the Financial Stability Report (FSR) for June 2025.
Highlights of the June 2025 Financial Stability Report:
• India continues to be a major contributor to global economic growth, driven by stable macroeconomic fundamentals and prudent policy measures.
• External risks include prolonged geopolitical tensions, global trade disruptions, and climate-related uncertainties, which may affect growth momentum.
• The gross non-performing asset (GNPA) ratio stood at 2.3 percent as of March 2025, marking a multi-decade low.
About the Financial Stability Report (FSR):
• It is a biannual publication of the Reserve Bank of India (RBI).
• The report presents the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC).
• It provides insights into systemic risks and the resilience of the Indian financial system, including the results of macro-stress tests.
Financial Stability and Development Council (FSDC)
• Set up in 2010 as a non-statutory apex body.
• Based on recommendation of Raghuram Rajan Committee (2008).
• Aims to strengthen financial stability and inter-regulatory coordination.
• Chairperson: Union Finance Minister.
• Members include: Governor, RBI, Chairpersons of SEBI, IRDAI, PFRDA, IBBI, Finance Secretary, Secretary (DEA), Secretary (DFS), Chief Economic Adviser.
• Sub-Committee of FSDC is headed by the RBI Governor.
Space-Based Surveillance-III Programme
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The Cabinet Committee on Security (CCS) headed by Prime Minister has approved phase III of its Space Based Surveillance (SBS) mission.
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• Will launch 52 satellites (21 by ISRO, 31 by private firms).
• Satellites to be deployed in LEO and GEO orbits.
• Dedicated satellites for Army, Navy, and Air Force.
• Supported by acquisition of 31 Predator drones from the USA.
• Includes joint military satellite projects with France.
• Strengthened by India’s anti-satellite (ASAT) missile capability.
Space Based Surveillance (SBS) mission
• Aims to provide land and maritime domain awareness for civilian and military use.
• Enables real-time surveillance for defence, security, and strategic planning.
• To be implemented by the National Security Council Secretariat and Defence Space Agency (Ministry of Defence).
World of Debt Report 2025
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Recently the United Nations Conference on Trade and Development (UNCTAD) released its annual report titled “A World of Debt 2025”.
About:
• Global Public Debt (GPD) reached a record $102 trillion in 2024.
• If current trends persist, GPD could reach 100% of global GDP by 2030.
• Developing countries hold $31 trillion, less than one-third of total GPD, but their debt has grown twice as fast as that of developed nations since 2010.
• Regional Share of Public Debt (Developing Countries): Asia and Oceania: 24%, Latin America and Caribbean: 5%, Africa: 2%.
United Nations Conference on Trade and Development (UNCTAD):
• Established in 1964 as a permanent intergovernmental body.
• Headquarters: Geneva, Switzerland.
• Functions under the United Nations General Assembly (UNGA).
• Membership: 195 countries.
• India is a founding member of UNCTAD.
• Publishes key reports: Trade and Development Report, World Investment Report, Technology and Innovation Report, A World of Debt Report.
QUAD’s Sea Ship Observer Mission
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The first-ever ‘QUAD at Sea Ship Observer Mission’ was launched by the Coast Guards of India, Japan, the USA, and Australia under the framework of the Wilmington Declaration.
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• Conducted aboard the US Coast Guard Cutter (USCGC) Stratton, currently en route to Guam.
• Two officers (including women officers) from each QUAD country are participating in the mission.
• Represents unprecedented cross-embarkation and operational collaboration among QUAD Coast Guards.
• Aims to enhance: Maritime domain awareness, Interoperability, Joint readiness and coordination.
• Supports a Free, Open, Inclusive, and Rules-Based Indo-Pacific.
Wilmington Declaration:
• Adopted during the QUAD Coast Guard Summit held in Wilmington, USA in March 2024.
• Marks the first formal cooperation framework among the Coast Guards of the QUAD countries – India, USA, Japan, and Australia.
• Aims to enhance maritime security cooperation in the Indo-Pacific region.
National Turmeric Board in Nizamabad
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• The Ministry of Commerce & Industry has established the National Turmeric Board of India at Nizamabad, Telangana, a major turmeric-growing region.
About:
• Established by: Ministry of Commerce & Industry
• Location: Nizamabad, Telangana
• Nature: Non-statutory body
• Purpose: To promote development, value addition, and export of turmeric and turmeric-based products.
Turmeric (Curcuma longa):
• Belongs to the Ginger family (Zingiberaceae); a flowering plant grown for its rhizomes.
• Grows best in temperatures between 20–30°C with high rainfall.
• India is the largest producer, consumer, and exporter, accounting for 75% of global production.
• Known in Ayurveda as ‘Haridra’; possesses antibacterial and anti-inflammatory properties.
• Over 30 varieties of turmeric are cultivated across 20+ states in India.
• Major producing states: Maharashtra, Telangana, Karnataka, Tamil Nadu
• Top export destinations: Bangladesh, United Arab Emirates (UAE), United States of America (USA), Malaysia.
Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES)
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• In 2025, the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) celebrates 50 years of regulating the world’s international wildlife trade.
About:
• Originally conceived in 1963 at an IUCN meeting; entered into force in 1975.
• Type: Voluntary international agreement among governments
• Aim to ensure that international trade in wild animals and plants does not threaten their survival
• Trade Regulation: Controls import, export, and re-export via a licensing system
• Parties: 185 (states + regional economic integration organizations)
• India ratified in 1976
• Secretariat: Administered by UNEP, based in Geneva, Switzerland
• IUCN provides scientific and technical support
• Implementation: Through national legislation of each party
• Legally binding, but does not override domestic laws
Central Adoption Resource Authority
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• The Central Adoption Resource Authority (CARA) clarified that digitally certified adoption orders sent via email are legally valid, and physical copies are not mandatory under current adoption rules.
About:
• Statutory body under the Ministry of Women and Child Development.
• Originally established in 1990 as an autonomous body.
• Became a statutory body through Section 68 of the Juvenile Justice Act, 2015.
• International Role: Designated as Central Authority under the Hague Convention on Intercountry Adoption, 1993 (ratified by India in 2003).
Key Functions of CARA:
• Monitor and regulate all adoption procedures across India.
• Process applications for adoption by NRIs, OCIs, and foreign nationals.
• Issue No Objection Certificates (NOC) and Conformity Certificates under Hague Convention.
Project 17A
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• INS Udaygiri, the second ship of the Project 17A (P-17A) indigenous stealth frigates, was delivered to the Indian Navy.
About:
• Follow-on project to the Project 17 (Shivalik-class) stealth frigates.
• Aims to build 7 advanced stealth frigates for the Indian Navy.
• Ships are being constructed at Mazagon Dock Shipbuilders Ltd (MDL), Mumbai and Garden Reach Shipbuilders & Engineers (GRSE), Kolkata.
• Designed by the Warship Design Bureau, Indian Navy.
• Hull is 4.54% larger than that of Project 17 ships.
• Equipped with a Combined Diesel or Gas (CODOG) propulsion system.
• Includes Controllable Pitch Propellers (CPP) and Integrated Platform Management System (IPMS).
• Part of India’s push for indigenous warship production and blue-water capabilities.
Project 17 (P-17):
• First indigenous stealth frigate project of the Indian Navy.
• Developed by Mazagaon Dock Shipbuilders Limited (MDL), Mumbai.
• Designed by the Warship Design Bureau (formerly Directorate of Naval Design).
• Comprises three stealth frigates: INS Shivalik, INS Satpura, INS Sahyadri.
• Commissioned between 2010 and 2012.
GOSAT-GW Satellite
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• Japan launched the GOSAT-GW climate monitoring satellite aboard its H-2A rocket, marking the 50th and final flight of the H-2A launcher before retirement.
About GOSAT-GW Satellite:
• Full form: Global Observing Satellite for Greenhouse Gases and Water Cycle
• Developed by: Japan Aerospace Exploration Agency (JAXA)
• Launch partner: Mitsubishi Heavy Industries (MHI)
• Launch vehicle: H-2A rocket (liquid-fueled with solid boosters)
• Launch site: Tanegashima Space Centre, Japan
• Series: Third satellite in Japan’s GOSAT series
• Primary focus: Climate monitoring at a global scale
Microcrystalline Cellulose
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• A fatal industrial accident occurred at the Sigachi Industries pharma unit in Hyderabad, which manufactures Microcrystalline Cellulose (MCC), resulting in 36 deaths.
About Microcrystalline Cellulose (MCC):
• Source: Extracted from refined wood pulp (fibrous plant material).
• Structure: Crystalline due to tightly packed microfibres with strong hydrogen bonding.
• Physical nature: Free-flowing, powdery, chewable, and nontoxic.
• Digestibility: Inert, not degraded during digestion, and not absorbed in the gastrointestinal tract.
Applications of MCC:
• Acts as a bulking agent in the food industry.
• Used as a binder, emulsifier, extender, and texturizer in the pharmaceutical industry.
• Plays a key role in tablet formulation, helps in adjusting drug weight, enhancing active ingredient delivery, and tablet uniformity.
Financial Fraud Risk Indicator (FRI)
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• The Reserve Bank of India has mandated all banks—including scheduled commercial banks, small finance banks, payment banks, and cooperative banks—to integrate the Financial Fraud Risk Indicator (FRI) to enhance digital transaction security.
About:
• Developed by the Digital Intelligence Unit (DIU) under the Department of Telecommunications (DoT)
• Classifies mobile numbers into Medium, High, or Very High financial fraud risk categories
• Based on inputs from: National Cybercrime Reporting Portal (NCRP), Chakshu platform (DoT), Intelligence from banks and financial institutions
• Shared with stakeholders like banks, NBFCs, UPI providers for real-time fraud detection and mitigation
• Enables actions such as: Declining suspicious transactions, issuing customer alerts or warnings, delaying high-risk financial activities
• Supported by Mobile Number Revocation List (MNRL) issued by DIU, listing numbers disconnected due to cybercrime or misuse
• Already adopted by entities like PhonePe, Paytm, HDFC Bank, PNB, ICICI Bank, India Post Payments Bank
Operation- MED MAX
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• The Narcotics Control Bureau (NCB) has busted a major international drug trafficking network through Operation Med Max, exposing links across four continents and involving advanced technologies like encrypted apps and cryptocurrencies.
About Operation Med Max:
• Launched by the Narcotics Control Bureau (NCB) in May 2024.
• Initiated with seizure of 3.7 kg of Tramadol tablets from a car in Delhi.
• Uncovered a transnational drug syndicate operating in over 10 countries across 4 continents.
• Syndicate used encrypted communication apps, drop shipping, and cryptocurrency payments.
• Led to arrest of a money launderer in Alabama (USA).
Narcotics Control Bureau (NCB):
• Established: 1986 under the provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985
• Nodal Ministry: Ministry of Home Affairs (MHA)
• Headquarters: New Delhi
• Status: Apex drug law enforcement and intelligence agency of India
• Role: Combat production, trafficking, and abuse of narcotic drugs and psychotropic substances
• Collaborate with agencies like CBI, ED, DRI, Customs, and State Police Forces
• Monitor India’s obligations under UN drug control treaties
3 by 35" initiative
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• The World Health Organization (WHO) has launched a ”3 by 35” to urge countries to raise real prices on tobacco, alcohol, and sugary drinks.
About:
• Launched by the World Health Organization (WHO) in 2025.
• Aims to increase real prices of tobacco, alcohol, and sugary drinks by at least 50% by 2035 through health taxes.
• Seeks to reduce non-communicable diseases (NCDs) and generate public revenue.
• Targets to prevent 50 million premature deaths over the next 50 years.
• Goal to raise US $1 trillion in additional public revenue over the next 10 years.
• Supported by global technical and policy partners for national-level implementation.
• Promotes country-led reforms for sustainable health financing and universal health coverage (UHC).
• Health taxes seen as a cost-effective tool to discourage harmful consumption patterns.
World Health Organization (WHO):
• Established: 7 April 1948 (celebrated as World Health Day)
• Headquarters: Geneva, Switzerland
• Parent body: United Nations Economic and Social Council (ECOSOC)
• Status: Specialized agency of the United Nations for international public health
• Membership: 194 member states
• India is a founding member
PARAKH Portal
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• The PARAKH RS 2025 survey, formerly known as the National Achievement Survey (NAS), was recently released, evaluating learning outcomes of students across India in line with NEP 2020 reforms.
About:
• Full Form: Performance Assessment, Review, and Analysis of Knowledge for Holistic Development – Rashtriya Sarvekshan
• Set up under NCERT as the national assessment body mandated by the National Education Policy (NEP) 2020
• Aims to standardize student assessment practices across states
• Provides reliable, comparable data on learning outcomes for evidence-based policymaking
2025 Survey Highlights:
• Covered 21 lakh students, 74,229 schools, and 781 districts
• Included 2.7 lakh teachers and school leaders via questionnaires
• Subjects tested for Grades 3 & 6: Language, Mathematics, The World Around Us
• Subjects tested for Grade 9: Language, Mathematics, Science, Social Science
• Top Performing States/UTs: Punjab, Kerala, Himachal Pradesh, Chandigarh, Dadra & Nagar Haveli and Daman & Diu
volume weighted average price
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• SEBI has recently mandated the issuance of a Common Contract Note with a single Volume Weighted Average Price (VWAP) to streamline trading and reporting for institutional investors and market participants.
About:
• VWAP is the average price of a stock weighted by trading volume during a particular trading session.
• Used as a benchmark to assess the fairness of trade execution and to compare the current market price with the average traded price.
• Helps investors make informed decisions on entry and exit points, and adopt active or passive trading strategies.
• Intraday tool, calculated from market open to market close using real-time data.
Endocrine-Disrupting Chemicals
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• EDCs are chemicals that interfere with the endocrine (hormone) system in humans and animals.
• They can mimic, block, or alter hormone production, leading to developmental, reproductive, neurological, and immune problems.
• Even low doses of EDCs can cause significant health effects, especially during critical growth periods (e.g., fetal or early childhood stages).
• Common Sources of EDCs: Industrial chemicals (e.g., PCBs, dioxins), Plastics and additives (e.g., Bisphenol A (BPA), phthalates), Pesticides (e.g., DDT, atrazine), Personal care products (e.g., parabens, triclosan)
• Health Impacts: Early puberty, infertility, low sperm count, Obesity, diabetes, and metabolic disorders, Thyroid dysfunction, hormone-related cancers
Television Rating Point (TRP)
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• The Ministry of Information and Broadcasting has proposed amendments to the Policy Guidelines for Television Rating Agencies (2014) to make the TRP system more representative of India’s diverse and evolving media consumption patterns.
About Television Rating Point (TRP):
• TRP is a metric to measure viewership and popularity of TV programmes.
• Higher TRP indicates greater audience engagement with a program.
• Used by advertisers to decide ad placement and by investors to evaluate channel performance.
• In India, TRP is calculated by BARC (Broadcast Audience Research Council).
• BARC is a joint industry body representing broadcasters, advertisers, and media agencies.
• Uses BAR-O-meters installed in 58,000+ panel households for real-time data collection.
• Follows the People Meter technique and Picture Matching method for data recording.
• People Meters record which channels are watched and for how long.
• Picture Matching captures a small image of the screen to identify programs watched.
• Data is collected from a sample and extrapolated to estimate national viewership.
• Weekly TRP ratings are released by BARC every Thursday.
Bukkapatna Chinkara Wildlife Sanctuary
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• The Karnataka Forest Department recently recovered 300 acres of encroached land in the Bukkapatna Chinkara Wildlife Sanctuary, located in Tumakuru district, reaffirming efforts to protect grassland ecosystems and Chinkara habitat.
About:
• Located in Tumakuru district, Karnataka
• Declared as a wildlife sanctuary in 2019
• Established for the protection and conservation of Chinkara (Indian Gazelle)
• It is the second Chinkara sanctuary in Karnataka after Yadahalli Wildlife Sanctuary (Bagalkot, notified in 2016)
• Characterized by wooded savannahs, dominated by grasslands interspersed with native tree species
• Key fauna: Chinkara (Least Concern), Fourhorned antelope (Vulnerable), Blackbuck (Least Concern), Sloth bear (Vulnerable), Leopard (Vulnerable)
• Plays a vital role in conserving dryland biodiversity and threatened grassland and savannah ecosystems.
Chinkara (Indian Gazelle):
• IUCN Status: Least Concern
• Native to India, Pakistan, and Iran, primarily found in arid and semi-arid regions.
• Commonly seen in Rajasthan, Gujarat, Madhya Pradesh, Karnataka, and parts of the Deccan plateau.
• Inhabits grasslands, scrublands, and dry deciduous forests.
• Known for its slender build, light brown coat, and distinctive black stripes on the face.
• Can survive without water for days, deriving moisture from plants—an adaptation to dry habitats.
• Protected under Schedule I of the Wildlife (Protection) Act, 1972 in India.
HAM Radio
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• Indian astronaut Shubhanshu Shukla recently interacted with students across the country via HAM radio from the International Space Station (ISS), highlighting its use as a reliable mode of global communication.
About: –
• Also known as Amateur Radio; a form of noncommercial radio communication.
• Operated by licensed individuals for purposes such as self-training, experimentation, and emergency communication.
• Regulated in India under the Indian Wireless Telegraphs (Amateur Service) Rules, 1978 by the Ministry of Communications.
• Requires a valid license issued by the Wireless Planning and Coordination Wing (WPC) of the Department of Telecommunications (DoT).
• HAM radio operators use specific radio frequency bands allocated internationally by the International Telecommunication Union (ITU).
• Functions independently of the internet or mobile networks—making it highly useful during natural disasters and emergencies.
• Commonly used to establish two-way radio contact with satellites, space stations (e.g., ISS), and other HAM operators worldwide.
International Telecommunication Union (ITU):
• Founded: 1865 as the International Telegraph Union; renamed ITU in 1932.
• Headquarters: Geneva, Switzerland
• Status: Specialized agency of the United Nations (UN) for information and communication technologies (ICTs).
• Membership: 193 member states and over 900 sector members (private companies, academic institutions, etc.)
• India is a member of ITU since 1869.
Reserve Bank of India revised the timings SDF and MSF
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SDF (Standing Deposit Facility):
• SDF is a tool through which the RBI absorbs excess liquidity from banks without offering collateral, unlike the reverse repo.
• It helps maintain the floor of the policy rate corridor, thereby supporting effective monetary transmission.
• Introduced in 2022 to strengthen RBI’s liquidity management and reduce dependence on collateralized operations.
MSF (Marginal Standing Facility):
• MSF allows scheduled banks to borrow overnight funds from the RBI against government securities during liquidity crunch.
• The MSF rate is typically 100 basis points above the repo rate, acting as the upper bound of the policy rate corridor.
• It serves as a last-resort borrowing window when banks exhaust all other short-term funding options.
SAKSHAM-3000
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• The Minister of State for Communications recently launched SAKSHAM-3000, an indigenous high-capacity switch-cum-router developed by CDOT to support India’s digital infrastructure.
About SAKSHAM-3000:
• Developed by the Centre for Development of Telematics (C-DOT) under the Department of Telecommunications (DoT).
• It is a state-of-the-art switch-cum-router that manages high-speed data traffic for internet and telecom networks.
• Ensures faster, secure, and smooth data flow across large-scale networks like 5G, cloud, and AI systems.
• Can handle massive data volume with extremely low delay and keeps all network parts in perfect sync.
• Used in 5G/6G networks, cloud services, AI workloads, smart cities, defence and government communication systems.
Gini index
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• According to a recent World Bank report, India’s Gini Index is 25.5, making it the 4th most equal country globally, surpassing all G7 and G20 nations in income equality.
About
• The Gini Index (or Gini Coefficient) is a statistical tool to measure income or wealth inequality within a population.
• Developed by Corrado Gini in 1912, it uses the Lorenz curve to assess income distribution.
• Ranges from 0 (perfect equality) to 1 or 100% (perfect inequality).
• A lower Gini score indicates a more equal society; a higher score signals greater inequality.
• It is a relative measure, not an indicator of a country’s total wealth or income.
Tokara Islands
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• Southern Japan’s Tokara Islands have experienced over 1,000 earthquakes in the past two weeks, making it one of the most intense seismic swarms in the region’s recorded history.
About:
• A small volcanic island chain in the southern part of Kagoshima Prefecture, Japan.
• Located in the Ryukyu Archipelago, between Kyushu and Amami Islands.
• It comprises 12 islands, of which 7 are inhabited.
• It forms part of the Nansei Islands and lies within a tectonically active zone on the Pacific Ring of Fire.
The Prime Minister’s multination visit
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• The Prime Minister of India is on a multi-nation tour from July 2 to July 9, 2025, visiting Ghana, Trinidad & Tobago, Argentina, Brazil, and Namibia to enhance bilateral cooperation and global strategic ties.
Ghana
• Located in West Africa; capital – Accra.
• First sub-Saharan African country to gain independence (1957).
• India supports Ghana through Pan-African eNetwork and developmental aid.
• Member of ECOWAS; cooperation includes healthcare, ICT, and capacity building.
Trinidad & Tobago
• Island nation in the Caribbean Sea; capital – Port of Spain.
• Large Indian diaspora (~40%); descendants of indentured labourers.
• Member of CARICOM; strong cultural and historical ties with India.
• Collaborates with India in education, culture, and diaspora engagement.
Argentina
• Located in South America; capital – Buenos Aires.
• Member of MERCOSUR trade bloc; key partner in soy oil exports.
• Signed MoU with India on lithium exploration (critical mineral).
• Bilateral ties include space, agriculture, and renewable energy cooperation.
Brazil
• Largest country in South America; capital – Brasília.
• Strategic partner in BRICS, IBSA, and G20.
• Collaborates with India on biofuels, climate change, and UN reforms.
• India-Brazil trade includes agro-products, pharma, and defence cooperation.
Namibia
• Located in Southern Africa; capital – Windhoek.
• Key partner in wildlife conservation (Cheetah translocation in 2022).
• Rich in uranium; cooperation in mining, health, and defence training.
• India supported Namibia’s independence and continues capacity-building initiatives.
