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  • Published
    25th Mar, 2023

Polity & Governance

Government launches ‘DigiClaim’


The government launched DigiClaim, under the ambit of Pradhan Mantri Fasal Bima Yojana, for claim disbursal through National Crop Insurance Portal.

  • With the launch of the module, claims will be disbursed electronically, which will benefit the respective farmers of six states.
  • Now, the automated claim settlement process will be an ongoing activity to ease all insured farmers’ lives and provide them with a sustainable financial flow and support, informed the government through a release.

Pradhan Mantri Fasal Bima Yojana (PMFBY), launched in 2016, is the government sponsored crop insurance scheme that integrates multiple stakeholders on a single platform.


Finance Ministry to start ‘greenshoe option’

The Finance Ministry recently decided to exercise the green shoe option as the offer-for-sale of Hindustan Aeronautics Ltd (HAL) has received a good response, with the issue subscribed 4.5 times on day one.

  • The greenshoe option refers to a clause used in an underwriting agreement during an IPO wherein this provision provides a right to the underwriter to sell more shares to the investors than an issuer planned if demand is higher than expected for the security issued.
  • A greenshoe option was first used by the Green Shoe Manufacturing Company (now part of Wolverine World Wide, Inc.)
  • Greenshoe options typically allow underwriters to sell up to 15% more shares than the original issue amount. 
  • Greenshoe options provide price stability and liquidity.
  • Greenshoe options provide buying power to cover short positions if prices fall, without the risk of having to buy shares if the price rises. 


Serbia introduces LIQUID 3 to control pollution

Serbian scientists have introduced a revolutionary solution to the problem of air pollution in densely populated urban areas. 

  • LIQUID 3 is also known as a liquid tree.
  • This innovative tool converts carbon dioxide into oxygen just as plants do. 
  • It is a state-of-the-art urban photobioreactor, the first of its kind in Serbia.
  • It is capable of replacing two 10-year-old trees or 200 square meters of lawn. 
  • The LIQUID 3 photo-bioreactor is made up of a glass tank holding approximately 600 liters of water and microalgae.
  • It also has a solar panel that generates power for a small pump, which brings air into the tank through tiny openings, allowing the microalgae to perform photosynthesis. 
  • This process converts CO2 and water into oxygen, which is then released into the air.
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