How Mercedes' latest material innovation pushes F1 sustainability forward
Written by Somya Panwar
For 75 years, Formula One has thrived on innovation — much of it engineered for performance, speed, and spectacle. But the Mercedes-AMG PETRONAS F1 Team is adding another layer to that legacy: sustainability.
In a landmark move that aligns with F1's shifting environmental priorities, Mercedes announced that by 2025, their W16 challenger will feature use of sustainable carbon fibre composites — marking the first time in the sport's history that this scale of sustainable material will be integrated into a Formula One car.
The initiative, driven in part by Mercedes' commitment to achieving net-zero carbon by 2040, isn't just about optics. Roughly 75% of the team's race car will soon be composed of sustainable carbon fibre.
'When you combine performance and innovation, you create progress,' Toto Wolff, CEO of Mercedes-AMG PETRONAS F1 Team and Head of Mercedes-Benz Motorsport, said in a statement. 'I am proud to lead a team of problem solvers who are committed to driving sustainable changes.'
The material itself is engineered from two essential components — fibres and a resin system. Typically, the composite is made up of 60% fibres and 40% resin, cured into a lightweight but durable material capable of withstanding the stress of elite motorsport competition.
Mercedes' longstanding partner, Petronas, is onboard as well, aligning its own green fuel development with the team's sustainability push. The latest project sees Mercedes collaborate with Chestnut Carbon, an organization focused on ecological restoration and carbon removal. Two separate programs are underway: one targeting the carbon fibre material and another improving the sustainability of the resin system.
'This commitment is reflected in our ownership of the land and our 100-year project design,' said Ben Dell, CEO of Chestnut Carbon. 'We have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with the local stakeholders, reinforcing our dedication to both environmental stewardship and community support.'
As part of this effort, Mercedes has committed to purchasing 5,500 tonnes of carbon removal credits between 2027 and 2030. The project is supported by a network of four to eight suppliers for each component of the composite material, and each part must still pass the FIA's rigorous performance testing before hitting the grid.
'We are proud to be at the forefront of sustainable innovation within our sport,' said Alice Ashpitel, Head of Sustainability at Mercedes. 'Leadership must be driven by innovation, and our team's efforts in this space are the latest demonstration of our ambition to become one of the world's most sustainable global sports teams.'
Mercedes is exploring applications of these sustainable materials in industries like aviation and aerospace—an evolution of F1's role as a high-speed laboratory for change.
As per sustainability magazine, Ben Dell, CEO of Chestnut Carbon commented: 'This commitment is reflected in our ownership of the land and our 100-year project design. Additionally, we have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with the local stakeholders, reinforcing our dedication to both environmental stewardship and community support.'
(The writer in an intern with the Indian Express)
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UPSC Key: Pandit Deendayal Upadhyay, Instruments of Monetary Policy and India's EV policy
Important topics and their relevance in UPSC CSE exam for June 3, 2025. If you missed the June 2, 2025 UPSC CSE exam key from the Indian Express, read it here FRONT PAGE Minister: Tesla not keen to manufacture in India Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies II: Effect of policies and politics of developed and developing countries on India's interests What's the ongoing story: Electric Vehicle (EV) major Tesla is not interested in manufacturing in India but is looking at opening two stores, Union Heavy Industries Minister H D Kumaraswamy said on Monday. Key Points to Ponder: • India's new EV policy-know in detail • What is Tesla's current plan regarding its presence in India? • Discuss the implications of Tesla's decision not to manufacture in India on the country's 'Make in India' initiative and its goals for the electric vehicle sector. • Know the potential reasons behind Tesla's reluctance to set up manufacturing facilities in India despite favourable government policies. • How does the response of companies like Mercedes-Benz and Skoda-Volkswagen to India's EV policy contrast with Tesla's approach? Key Takeaways: • He, however, said that global EV makers like Mercedes-Benz, Volkswagen-Škoda, Hyundai and Kia have shown interest in applying under the ministry's flagship Scheme to Promote Manufacturing of Electric Passenger Cars in India, notified in March last year. • 'Mercedes-Benz, Volkswagen-Škoda, Hyundai and Kia — all these companies have already shown interest. Tesla, we are actually not expecting from them. They (Tesla) are going to start two showrooms, they are not interested in manufacturing in India,' Kumaraswamy said at a media briefing. • In February, US President Donald Trump had criticised Tesla's plan to expand in India, calling it 'unfair' to the US. 'Now, if (Tesla CEO Elon Musk) built the factory in India, that's okay, but that's unfair to us. It's very unfair,' he had said. Trump has since made similar objections to Apple's expansion plans in India. • The heavy industries ministry also issued detailed guidelines on Monday under the EV manufacturing scheme, and will soon issue a notice inviting online applications. Under the scheme, approved applicants will be required to make a minimum investment of Rs 4,150 crore to produce EVs domestically, with defined domestic value addition (DVA) goals. • In turn, they will be eligible to import a maximum of 8,000 completely built-in units (CBU) of electric four-wheelers per year, with a minimum import value of $35,000 at a reduced Customs duty of 15 per cent for a five-year period. The scheme is limited to global manufacturers with a revenue of at least Rs 10,000 crore per year, with fixed assets valued at a minimum of Rs 3,000 crore. Do You Know: • Shortly after the scheme was announced in March 2024, in the run-up to the Lok Sabha polls, Musk was expected to visit India and make a pledge to pump over $2 billion into a car manufacturing facility in the country. However, the visit was postponed after Musk cited 'very heavy Tesla obligations'. But, a few days after cancelling his India trip, Musk visited China — the company's second-largest market. • In February this year, days after Prime Minister Narendra Modi met Musk in Washington, Tesla announced 13 job openings in India, including store manager, service advisor, business operations analyst, and customer engagement manager. • Meanwhile, according to think tank Global Trade Research Initiative (GTRI), it could take years before the first batch of EVs manufactured under the Centre's scheme hit the market. 'While announcement of the scheme guidelines is a positive step, the application process has not opened yet and is expected soon. Realistically, it may take another six months or more before selected firms are announced, and the first locally made EVs under this scheme are still some time away; for now, approved firms can keep importing fully built cars at the reduced 15% duty,' GTRI said in a release. Other Important Articles Covering the same topic: 📍Tesla unlikely to manufacture in India: Heavy Industries Minister Countdown to space mission: Seat for Shukla is big moment for India Syllabus: Preliminary Examination: Current events of national and international importance. Mains Examination: General Studies III: Awareness in the fields of IT, Space, Computers, robotics, nanotechnology, bio-technology and issues relating to intellectual property rights. What's the ongoing story: The four-member crew also has astronauts from Poland and Hungary – countries that, like India, are sending their nationals to space after 40 years — underlining the very diverse nature of participation in this mission. Key Points to Ponder: • Axiom Mission 4-know in detail • What is the Axiom-4 mission primarily known for? • Why is the inclusion of an Indian on Axiom-4 considered a significant development? • Discuss the significance of India's human spaceflight program (Gaganyaan) in the context of global space diplomacy and international collaboration. • Gaganyaan Mission-Know the key features • Gaganyaan Mission-What makes this Mission very Unique? • India's Manned Mission to Space-Know in detail • Indian Space Research Organisation (ISRO)-About the Organisation • Know the role of the Indian Air Force (IAF) in India's space missions. • How does the experience of IAF officers contribute to space exploration? • Evaluate the role of international partnerships in India's human spaceflight program. • How do collaborations with countries like Russia, USA, and France enhance ISRO's capabilities? • What are the challenges India faces in establishing a long-term human spaceflight program? Key Takeaways: • Four decades after Rakesh Sharma became the first Indian to travel to space, Shubhanshu Shulka, a 39-year-old Indian Air Force officer who is in the final leg of his pre-launch quarantine at the Kennedy Space Centre in Florida, will on Sunday, June 8, pilot a Dragon spacecraft that will take him, and three others, to the International Space Station (ISS), about 400 km from the Earth. • Shukla, who is set to be the first Indian to step on to the ISS, will spend two weeks carrying out various experiments and studies in space. • Though India or the Indian Space Research Organisation (ISRO) has had little role to play in the planning and execution of the mission — apart from securing a seat for an Indian on the spacecraft — Shukla's journey couldn't have come at a better time for the country's space programme as it prepares for Gaganyaan, India's own human spaceflight. Do You Know: • The Dragon spacecraft, as well as the Falcon 9 rocket that will launch it into space, are built by Elon Musk-owned SpaceX, one of the biggest private space companies in the world. The mission is being operated and managed by Axiom Space, a nine-year-old private entity focused on commercial spaceflight services. The US space agency NASA is facilitating this mission as part of its broader initiative to encourage private operators to participate in commercial space transportation activities in Lower Earth Orbits. • The four-member crew also has astronauts from Poland and Hungary – countries that, like India, are sending their nationals to space after 40 years — underlining the very diverse nature of participation in this mission. • Shukla's space journey was not planned like this. He was selected and trained for Gaganyaan, India's maiden human spaceflight mission that was originally scheduled for 2022 but is now expected to happen in early 2027. In the meanwhile, in 2023, NASA and ISRO agreed to develop a 'strategic framework for human spaceflight cooperation', its immediate result being the inclusion of Indian astronauts in the Axiom-4 mission. • ISRO has designed about 10 experiments for this mission. These include investigations into the effects of microgravity on muscle dysfunctions, and the physical and cognitive impacts of utilising computer screens in space. Another experiment would study the impact of spaceflight on the growth of six varieties of crop seeds. ISRO is also sending a few tardigrades to the ISS. These microscopic, water-dwelling organisms, also called water bears or moss piglets, are known to survive in extremely harsh environments. They are often studied in space to gain a better understanding of how life can survive in extra-terrestrial conditions. • Along with his two Soviet colleagues on the mission, Sharma carried out several space experiments during his flight. These resulted in ISRO getting access to important and novel data, though the space agency had little utility for them at that time. In 1984, India did not even have a decent rocket of its own. The only one it had, SLV-3, could barely carry 30-40 kg to Lower Earth Orbits. India's important satellites, like those of the INSAT series, were being launched from the United States. Other Important Articles Covering the same topic: 📍 Axiom-4 mission will give key inputs for Gaganyaan GOVT & POLITICS India, Paraguay vow to boost ties; united against terror: PM Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies II: Bilateral, regional and global groupings and agreements involving India and/or affecting India's interests. What's the ongoing story: Hosting the first foreign head of state since Operation Sindoor, Prime Minister Narendra Modi told the visiting President of Paraguay, Santiago Peña Palacios, that the two countries are 'united in the fight against terrorism' and there is immense possibility of cooperation to fight against 'shared challenges' such as cybercrime, organised crime, and drug trafficking. Key Points to Ponder: • What is the relationship between India and Paraguay? • India-MERCOSUR—know in detail • Map Work-MERCOSUR Countries • What are the strategic implications of India- Paraguay cooperation? • What are the key challenges in strengthening India- Paraguay trade and investment relations? • Examine the role of regional trade blocs like MERCOSUR in facilitating India's trade with Paraguay. Key Takeaways: • Welcoming President Peña at delegation-level talks, Modi said the Paraguayan leader's first visit to Delhi will add new strength to the pillars of trust, trade, and close cooperation in the relations and will also add new dimensions to India-Latin America relations. • Peña, who arrived in Delhi Monday, is on a three-day visit to India to explore ways to expand overall cooperation. It is his first visit to India and only the second trip by a president of the South American country. • 'India and Paraguay stand united in the fight against terrorism. There is immense possibility of cooperation to fight against shared challenges such as cybercrime, organised crime, and drug trafficking,' Modi said, describing the two countries as integral parts of Global South with similar 'hopes, aspirations, challenges.' • Briefing reporters, P Kumaran, Secretary (East) in the Ministry of External Affairs, said: 'This visit comes soon after the barbaric terrorist attack in Pahalgam, J&K. PM Modi expressed his deep appreciation to Paraguay for its strong condemnation of the terrorist attack in Pahalgam, as well as for the sincere condolences and solidarity expressed with the people and the Government of India… On behalf of the Paraguayan people, President Peña expressed his deep solidarity with the victims and families of the terrorist attack.' • The PM also referred to New Delhi's preferential trade arrangement with South American trading bloc MERCOSUR, comprising Argentina, Brazil, Paraguay and Uruguay. 'We can work together to further expand it,' the PM said. • On defence cooperation, Kumaran said while Paraguay's priorities are different to those of India, the 'logic driving their acquisition of defence hardware' is mainly law enforcement. • He said one of the points discussed in the talks was 'AgriStack'. 'As a large agricultural country, the use of digital platforms to make agriculture more efficient… is of great interest to the Paraguayan side,' Kumaran said. Do You Know: • Mercosur is an economic and political bloc consisting of Argentina, Brazil, Paraguay, and Uruguay. Venezuela was suspended indefinitely in 2016, while Bolivia became a full member in 2024. Founded in 1991 to create a common market, spur development, and bolster democracy, Mercosur saw early successes, including a tenfold increase in trade within the bloc in its first decade. In 2024, Mercosur took a major step toward an agreement with the European Union, though other deals, including with the United States and China, remain elusive. • In 2023, the four founding countries had a combined gross domestic product (GDP) of nearly $3 trillion, according to World Bank data, making Mercosur one of the world's largest economic blocs. In comparison, Latin America's second-largest trade group, the Pacific Alliance, had a slightly lower combined GDP of close to $2.8 trillion. Other Important Articles Covering the same topic: 📍PM Modi meets Paraguay's President Pena in Delhi to deepen diplomatic and trade ties ECONOMY US rejects India's steel tariff challenge at WTO on legal, procedural grounds Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies II: Effect of policies and politics of developed and developing countries on India's interests, Indian diaspora. What's the ongoing story: The United States has rejected India's notice at the World Trade Organization (WTO), which proposed retaliatory action against the 25 per cent US tariffs on steel and aluminium, arguing that the tariffs were imposed on national security grounds. The US also pointed out procedural errors in India's case. Key Points to Ponder: • Know the terms-Tariffs, Non-Tariffs, dumping, Trade diversion and Protectionism • Why Tariffs are imposed? • What will be the impact of the U.S. steel and aluminium tariffs on global trade dynamics? • How does such protectionist policy affect developing economies like India? • 'Trade protectionism has seen a resurgence in global economic policies'-discuss • Discuss the merits and demerits of protectionist measures such as tariffs and import duties. Key Takeaways: • In its note dated May 23, the US stated that India is wrongly treating the tariffs on steel and aluminium as safeguard measures. It clarified that these duties were imposed under US law (Section 232), which allows such action if imports are considered a threat to national security. • This development is significant as US President Donald Trump on Friday announced a move to double import tariffs on steel to 50 per cent — a step Indian exporters have called 'unfortunate', warning that they have already lost $5 billion in exports due to earlier tariffs, and further hikes could deepen losses. • 'The United States will not discuss the Section 232 tariffs under the Agreement on Safeguards as we do not view the tariffs as a safeguard measure,' the US told the WTO Council for Trade in Goods in response to India's challenge. • In FY2025, India exported $4.56 billion worth of iron, steel, and aluminium products to the US, including $587.5 million in iron and steel, $3.1 billion in articles of iron or steel, and $860 million in aluminium and related goods. These exports now face sharply higher US tariffs, threatening the profitability of Indian producers and exporters. • The US also claimed that India had committed procedural errors. 'India never acknowledged the United States' offer to discuss these tariffs in our response dated 16 April 2025. Accordingly, India has not complied with the obligations under the Agreement on Safeguards, the agreement that it mistakenly contends applies to the tariffs in question,' the US note said. • Ajay Srivastava, former trade officer and head of the Global Trade Research Initiative (GTRI), said India now has several options. One is to launch a formal WTO dispute, not under the Safeguards Agreement, but under broader GATT rules, challenging the Section 232 tariffs as disguised protectionist measures. Do You Know: • On May 9, India submitted a document to the WTO, identifying the American metals tariffs, effective from March 12, as 'safeguard measures'. The WTO's Agreement on Safeguards (AOS) identifies safeguards as protectionist measures that a member country may invoke if it determines that certain product imports are significantly large and may 'cause or threaten to cause serious injury' to the corresponding domestic competitor. • According to India's note, the tariffs impact $7.6 billion worth of Indian exports into the US, on which $1.91 billion would be collected as duties. India's proposed retaliatory measure would result in an equivalent amount of duty collected from products originating in the United States,' it said. The specific US products were not specified. • In its response to the WTO on May 23, the US said that India's contention that the tariffs are 'safeguard measures' is incorrect, that the Section 232 tariffs were imposed on national security grounds, and even claimed that India had not followed due procedure in seeking negotiations on the subject. • India currently faces 26% 'reciprocal tariffs' under the International Emergency Economic Powers Act (1977). The US subsequently paused all reciprocal tariffs on April 9, while a legal battle over the validity of these tariffs (as well as the 10% baseline tariff charged on all countries) is currently underway. The White House justified this rate, saying India charges a 70% tariff on passenger vehicle imports, 10-20% on networking switches and routers and 50% on rice in the husk. • India also faces the Section 232 duties of 25% on steel, aluminium and automobiles, which will be doubled to 50% from Wednesday (June 4). We previously noted that the US is the largest market for Indian aluminium, with exports valued at $946 million in FY2024. These exports had exceeded $1 billion in the previous two financial years, and were up from just $350 million in 2016-17 when Trump first became President. Similarly, the US was also the largest market for Indian iron and steel articles, with Indian exports valued at $2.8 billion in FY2024. Other Important Articles Covering the same topic: 📍Tariff Tracker, June 3: What next for India? US dismisses WTO challenge, EU trade deal ahead India's rapid AI adoption, China's open-source lead in focus in Mary Meeker report Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies III: Science and Technology- developments and their applications and effects in everyday life. What's the ongoing story: 'Unprecedented' – that's the word frequently used by venture capitalist Mary Meeker—once known as the 'Queen of the Internet'—in her latest trends report on artificial intelligence (AI) development and adoption. Key Points to Ponder: • Who is Mary Meeker? • What does the report, titled 'Trends — Artificial Intelligence,' says? • According to recent global tech reports like Mary Meeker's, what is particularly noted in India's growth? • India's AI adoption is seen predominantly in which sectors? • What is a key challenge India faces despite rapid AI adoption, as indicated in the recent tech report? • Discuss the significance of India's rapid AI adoption in achieving digital transformation and inclusive growth. • How is India's policy and institutional readiness to build indigenous AI models in comparison to global leaders like the US and China? Key Takeaways: • The 340-page report, titled 'Trends — Artificial Intelligence,' charts out the speed at which costs of usage are dropping, and how its adoption curve is unlike any tech disruption of the past. 'The pace and scope of change related to the artificial intelligence technology evolution is indeed unprecedented…' Meeker writes in her report, her first major trends report since 2019. • While largely upbeat about AI's disruptive promise, the report also outlines cautions against well-known pitfalls including hallucinations, biases, misinformation and slow moving regulation. It also said that while AI platforms have racked up the user-base, revenue per user is still quite low for most of them, with a median of $23. • The adoption of AI platforms has been unlike anything that has come before it, the report said. For instance, it took the likes of Instagram, WhatsApp, and YouTube between 2-4 years to reach 100 million users, but for ChatGPT, it took less than 3 months. • The report also speculated, based on data from Morgan Stanley, that while it took between 6-12 years for 50% households in the US to have access to mobile and desktop internet, it will take only 3 years for the same number of households to become users of AI platforms. Do You Know: • Owing to its large demography and internet penetration, India has been a key user-base market for AI companies, the report said. It is the second largest market for ChatGPT, and contributes the highest percentage of its mobile app users (13.5%), ahead of countries like the US (8.9%), and Germany (3%). • India is also the third-largest user base (6.9%) for China's homegrown platform DeepSeek, and is behind only China (33.9%) and Russia (9.2%). However, the thing to note here is that ChatGPT, one of DeepSeek's main rivals, is banned in both China and Russia. Indians therefore contribute a substantial user base to DeepSeek, despite the availability of its Western rivals. • The report said that two different philosophies in shipping AI models are playing out in parallel – closed and open source. • Closed models follow a centralised, capital-intensive arc. These models – like OpenAI's GPT-4 or Anthropic's Claude – are trained within proprietary systems on massive proprietary datasets, requiring months of compute time and millions in spending, it said. They often deliver more capable performance and easier usability, and thus are preferred by enterprises and consumers, and – increasingly – governments. However, the tradeoff is opacity: no access to weights, training data, or fine-tuning methods, the report added. Other Important Articles Covering the same topic: 📍Mary Meeker's AI report: OpenAI's ChatGPT is growing 5.5x faster than Google Search Why MPC is likely to cut repo rate for 3rd consecutive time Syllabus: Preliminary Examination: Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc. Mains Examination: General Studies III: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. What's the ongoing story: The Reserve Bank of India's (RBI) six-member Monetary Policy Committee (MPC) is expected to cut the repo rate – the key policy rate – by 25 basis points (bps) in the policy meeting scheduled from June 4 to 6, to support growth as inflation continues to remain below the 4 per cent target. Key Points to Ponder: • What are the instruments of monetary policy? • Will RBI change repo rate in the upcoming policy? • Will there be a change in monetary policy stance? • Will RBI revise inflation and GDP projections? • What happens to lending rates if repo rate is left steady? • When is RBI expected to cut repo rate? • What happens when repo rate is increased? • Repo rate is the rate at which central bank of a country (in our case Reserve Bank of India) lends money to whom? • In reverse repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) borrows money from whom? • If Repo Rate is increased or say decreased then it impacts common people? • Who decides the repo rate and reverse repo rate? • How repo rate and reverse repo rate are decided? • What is the difference between repo rate and interest rate? • If repo rate or reverse repo rate is increased or decreased, then how it impacts savings? • What Marginal Standing Facility? Key Takeaways: • With benign inflation, there has been a consensus among economists that the six-member MPC will cut the repo rate by 25 basis points (bps) to 5.75 per cent in the upcoming meeting. One basis point (bps) is one-hundredth of a percentage point. • Headline inflation, as measured by year-on-year changes in the all-India consumer price index (CPI), moderated to 3.2 per cent in April, the lowest since July 2019, from 3.3 per cent in March. The easing in CPI has been driven by the sustained fall in food prices. • Economists said that with inflation remaining below the 4 per cent target in the last three months (February, March and April), and a sharp fall in food inflation, CPI is likely to durably align with the 4 per cent target over a 12-month period. • Under the flexible inflation targeting (FIT) framework, the RBI has been mandated by the government to maintain CPI at 4 per cent with a band of +/-2 per cent. • According to economists, the RBI is likely to revise its projections on real gross domestic product (GDP) and inflation for FY26. • As per the RBI's estimate, CPI inflation for FY26 is expected to be at 4 per cent. The easing of supply chain pressures, softening of global commodity prices and higher agricultural production on the back of a likely above-normal south-west monsoon augur well for the inflation outlook in FY26, the RBI's annual report said. Do You Know: • Monetary policy essentially deals with the supply and cost (interest rates) of money in an economy. The RBI's MPC meets every two months to assess the state of monetary activities, and may tweak the repo rate — the interest rate at which the RBI lends to commercial banks — in a manner that reduces price fluctuations in the economy while keeping the inflation rate (the rate at which the general price level in the economy grows) at a reasonable level. According to RBI, there are several direct and indirect instruments that are used for implementing monetary policy: —Repo Rate: The interest rate at which the Reserve Bank provides liquidity under the liquidity adjustment facility (LAF) to all LAF participants against the collateral of government and other approved securities. —Standing Deposit Facility (SDF) Rate: The rate at which the Reserve Bank accepts uncollateralised deposits, on an overnight basis, from all LAF participants. The SDF is also a financial stability tool in addition to its role in liquidity management. The SDF rate is placed at 25 basis points below the policy repo rate. With introduction of SDF in April 2022, the SDF rate replaced the fixed reverse repo rate as the floor of the LAF corridor. —Marginal Standing Facility (MSF) Rate: The penal rate at which banks can borrow, on an overnight basis, from the Reserve Bank by dipping into their Statutory Liquidity Ratio (SLR) portfolio up to a predefined limit (2 per cent). This provides a safety valve against unanticipated liquidity shocks to the banking system. The MSF rate is placed at 25 basis points above the policy repo rate. —Liquidity Adjustment Facility (LAF): The LAF refers to the Reserve Bank's operations through which it injects/absorbs liquidity into/from the banking system. It consists of overnight as well as term repo/reverse repos (fixed as well as variable rates), SDF and MSF. Apart from LAF, instruments of liquidity management include outright open market operations (OMOs), forex swaps and market stabilisation scheme (MSS). —Reverse Repo Rate: The interest rate at which the Reserve Bank absorbs liquidity from banks against the collateral of eligible government securities under the LAF. Following the introduction of SDF, the fixed rate reverse repo operations will be at the discretion of the RBI for purposes specified from time to time. —Bank Rate: The rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial papers. The Bank Rate acts as the penal rate charged on banks for shortfalls in meeting their reserve requirements (cash reserve ratio and statutory liquidity ratio). The Bank Rate is published under Section 49 of the RBI Act, 1934. This rate has been aligned with the MSF rate and, changes automatically as and when the MSF rate changes alongside policy repo rate changes. —Cash Reserve Ratio (CRR): The average daily balance that a bank is required to maintain with the Reserve Bank as a per cent of its net demand and time liabilities (NDTL) as on the last Friday of the second preceding fortnight that the Reserve Bank may notify from time to time in the Official Gazette. —Statutory Liquidity Ratio (SLR): Every bank shall maintain in India assets, the value of which shall not be less than such percentage of the total of its demand and time liabilities in India as on the last Friday of the second preceding fortnight, as the Reserve Bank may, by notification in the Official Gazette, specify from time to time and such assets shall be maintained as may be specified in such notification (typically in unencumbered government securities, cash and gold). —Open Market Operations (OMOs): These include outright purchase/sale of government securities by the Reserve Bank for injection/absorption of durable liquidity in the banking system. Other Important Articles Covering the same topic: 📍Centre reconstitutes Monetary Policy Committee ahead of RBI rate review EXPLAINED Roots of Deendayal Upadhyay's Integral Humanism, the 'basic philosophy' of BJP Syllabus: Preliminary Examination: History of India Main Examination: General Studies I: Modern Indian history from about the middle of the eighteenth century until the present- significant events, personalities, issues. What's the ongoing story: The BJP is celebrating 60 years of the philosophy of Integral Humanism (Ekatm Manavvad), the thoughts of Pandit Deendayal Upadhyay, co-founder of the Bharatiya Jana Sangh (BJS), which the BJP says is the basis of the policies followed by the governments led by the party. Key Points to Ponder: • What you know about Pandit Deendayal Upadhyay? • Integral Humanism, as propounded by Deendayal Upadhyay, primarily advocates what? • Which political organization adopted Integral Humanism as its official ideology in 1965? • In Integral Humanism, what is the concept of 'Antyodaya'? • Discuss the core tenets of Deendayal Upadhyay's Integral Humanism? • How Integral Humanism differs from both socialism and capitalism? • How Integral Humanism reconciles spiritual values with economic development? Key Takeaways: • Upadhyay, a pracharak of the Rashtriya Swayamsevak Sangh (RSS), was associated with the BJS from the beginning, and was general secretary before being elected its president in Calicut in December 1967. • On February 11, 1968, Upadhyay was found dead outside Mughalsarai railway station, now renamed Deendayal Nagar. He had boarded a train from Jaunpur to Patna the previous evening. The mystery of Upadhyay's death remains officially unresolved. • Between April 22 and April 25, 1965, Upadhyay, who was then general secretary of the BJS, delivered four lectures at Ruia College in Bombay (now Mumbai) on the political philosophy of Ekatm Manavvad. He listed the problems before the country and their possible solutions. • 'Now that we are independent, what shall be the direction of our progress?', he asked. It is 'amazing that serious thought has not been given to this question and today even after 17 years of independence we cannot say that a definite direction has been decided upon.' He argued that it was 'neither possible nor wise to adopt foreign 'isms' in our country in the original form. It will not be helpful in achieving happiness and prosperity'. Do You Know: • Upadhyay concluded his fourth lecture with the words, 'We have in the last four days thought over the integrated form of Humanism. On this basis we shall be able to reconcile nationalism, democracy, socialism, and world peace with the traditional values of Bharatiya Culture and think of all these ideals in an integrated form.' • This idea of Upadhyay's Integral Humanism was subsequently expanded and articulated in detail by Dattopant Thengdi (1920-2004), an RSS pracharak who served with the BJS in its initial years in Madhya Bharat (later Madhya Pradesh), and who went on to found the Bharatiya Mazdoor Sangh (BMS) and was a BJS member of Rajya Sabha from 1964-76. However, the intellectual roots of the idea Integral Humanism go back almost four decades. Other Important Articles Covering the same topic: 📍What Deendayal Upadhyaya wrote on tolerance, mob rule and autocracy For any queries and feedback, contact Subscribe to our UPSC newsletter. Stay updated with the latest UPSC articles by joining our Telegram channel – IndianExpress UPSC Hub, and follow us on Instagram and X. Priya Kumari Shukla is a Senior Copy Editor in the Indian Express (digital). She contributes to the UPSC Section of Indian Express (digital) and started niche initiatives such as UPSC Key, UPSC Ethics Simplified, and The 360° UPSC Debate. The UPSC Key aims to assist students and aspirants in their preparation for the Civil Services and other competitive examinations. It provides valuable guidance on effective strategies for reading and comprehending newspaper content. The 360° UPSC Debate tackles a topic from all perspectives after sorting through various publications. The chosen framework for the discussion is structured in a manner that encompasses both the arguments in favour and against the topic, ensuring comprehensive coverage of many perspectives. Prior to her involvement with the Indian Express, she had affiliations with a non-governmental organisation (NGO) as well as several coaching and edutech enterprises. In her prior professional experience, she was responsible for creating and refining material in various domains, including article composition and voiceover video production. She has written in-house books on many subjects, including modern India, ancient Indian history, internal security, international relations, and the Indian economy. She has more than eight years of expertise in the field of content writing. Priya holds a Master's degree in Electronic Science from the University of Pune as well as an Executive Programme in Public Policy and Management (EPPPM) from the esteemed Indian Institute of Management Calcutta, widely recognised as one of the most prestigious business schools in India. She is also an alumni of Jamia Milia Islamia University Residential Coaching Academy (RCA). Priya has made diligent efforts to engage in research endeavours, acquiring the necessary skills to effectively examine and synthesise facts and empirical evidence prior to presenting their perspective. Priya demonstrates a strong passion for reading, particularly in the genres of classical Hindi, English, Maithili, and Marathi novels and novellas. Additionally, she possessed the distinction of being a cricket player at the national level. Qualification, Degrees / other achievements: Master's degree in Electronic Science from University of Pune and Executive Programme in Public Policy and Management (EPPPM) from Indian Institute of Management Calcutta ... Read More
NDTV
16 hours ago
- NDTV
Rare Mercedes-AMG One Hypercar Goes Up In Flames: Watch Video
A rare Mercedes-AMG One hypercar caught fire and was totaled in an incident in Germany. Valued at about 2.7 million Dollars, it is one of only 275 made and includes Formula 1 inspired technology. This is the second time an AMG One has caught fire, raising worries about the safety of this high-performance car. Incident Overview: The fire incident occurred in Germany, where the car had an "OL" license plate, indicating it was registered in the Oldenburg region. The dark green AMG One was featured at the Techno Classica Essen event in April. The driver was able to pull over and get out of the car before it was fully engulfed in flames. Firefighters arrived on the scene but couldn't save the vehicle, which was left completely destroyed. Moreover, It seems that the vehicle belonged to a customer rather than being a prototype as Mercedes' test vehicles use "LB" number plates, since AMG's headquarters are located in Affalterbach. About Mercedes-AMG One: The Mercedes-AMG One is a unique hypercar that brings Formula 1 technology to the road. It has a complicated hybrid powertrain featuring a 1.6-liter V6 engine and several electric motors, producing over 1,000 horsepower. Because of its complex design, the AMG One requires careful maintenance, including engine rebuilds every 31,000 miles (approximately 50,000 kms). View this post on Instagram A post shared by Supercar Fails (@ Investigation Reports: The cause of the fire is currently under investigation. While the hybrid system's complexity might be a factor, no clear conclusions have been reached yet. This incident raises concerns about the safety and reliability of high-performance hybrid vehicles that use advanced motorsport technology. The loss of another Mercedes-AMG One showcases the difficulties of applying cutting-edge racing technology to consumer cars. As the investigation continues, the automotive industry will keep a close eye on the findings to address any potential safety issues in high-performance hybrid vehicles.
Time of India
16 hours ago
- Time of India
Lewis Hamilton apologised off-camera to TV presenter for frustrated interview after Spanish Grand Prix, reveals her colleague
Image credit: Ferrari/Instagram There is no one bigger than Lewis Hamilton competing in Formula 1 at present. And he is, of course, upset about not being able to clinch even one win in his maiden season with Ferrari, since he moved from Mercedes to the French team this season. It has now been revealed that he apologised to Sky Sports F1 presenter Rachel Brookes for venting his frustration in an interview conducted just after the race in Spain. Lewis Hamilton's interview with Rachel Brookes Despite doing well during the race, Lewis Hamilton eventually finished sixth at the Spanish Grand Prix last weekend. He could have been seventh had Max Verstappen not taken the 10-second penalty for hitting George Russell's Mercedes. Soon after the race, when Sky Sports presenter Rachel Brookes asked Hamilton why he said something was wrong with the car, he replied, 'Not particularly. It was just not a great day.' When she enquired about the strategy call, he said, 'Strategy was good, the team did a great job, just... that's it.' It seems she hit the wrong nerve when she told him, 'I hate seeing you in this mood, it's hard seeing you in this mood.' The upset Ferrari driver couldn't hold back his frustration and responded, saying, 'What do you want me to say? I've just had a really bad day. I've got nothing to say. It was a difficult day, I've got nothing else to add to it. It was terrible. There's no point explaining it. It's not your fault, but what else is there to say?' When she told him, 'I totally understand that. I just hope they find answers for you,' he said, 'I'm sure they won't. It's probably just me.' Lewis Hamilton apologised to Rachel Brookes According to Sky Sports F1 commentator David Croft said on The Fast and The Curious podcast that Hamilton apologised to her for how he reacted in the interview. 'He did apologise to Rachel Brookes for being so down in the dumps off-camera. He said, 'I'm really sorry about that. I'm just so down.' And that just shows the extent that he really was down. He's not putting this on for the cameras, trust me," he said. Also Read: Spanish Grand Prix 2025 results: Oscar Piastri wins his fifth race, Lando Norris and Charles Leclerc join him on the podium Hamilton had won the F1 Sprint at the Chinese Grand Prix in Shanghai this year, but that is not counted as a final Grand Prix race. He is yet to win a Grand Prix for Ferrari. What has made things even more difficult for him is that, while he is left complaining about his Ferrari, his teammate Charles Leclerc has secured three podiums this year, including taking third place at the recently held Spanish Grand Prix, where Hamilton finished sixth.
