Surrogacy and the World
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GM mustard moves closer to approval
DMH-11, the genetically modified (GM) mustard hybrid was developed by researchers at the Delhi University under a government-funded project. In essence, it uses a system of genes from soil bacterium that makes mustard — generally a self pollinating plant — better suited to hybridisation than current methods. This means local crop developers can more easily develop different varieties of hybrid mustard, and confer traits like pest resistance and potentially improving yield.
The Genetic Engineering Appraisal Committee (GEAC), an Environment Ministry body whose clearance is mandatory for testing GM crops in farmer fields, had consulted with plant biologists, ecologists and environmentalists before tasking a sub-committee with compiling all evidence — and addressing key questions — on DMH-11.
Genetic Engineering Appraisal Committee (GEAC)
The Genetic Engineering Appraisal Committee (GEAC) is the apex body constituted in the Ministry of Environment and Forests under ‘Rules for Manufacture, Use, Import, Export and Storage of Hazardous Microorganisms/Genetically Engineered Organisms or Cells 1989‘, under the Environment Protection Act, 1986.
The Rules of 1989 also define five competent authorities for handling of various aspects of the rules i.e.
Institutional Biosafety Committees (IBSC)
Review Committee of Genetic Manipulation (RCGM)
Genetic Engineering Approval Committee (GEAC)
State Biotechnology Coordination Committee (SBCC) and
District Level Committee (DLC)
The GEAC accords approval of activities involving large scale use of hazardous microorganisms and recombinants in research and industrial production from the environmental angle. The GEAC is also responsible for approval of proposals relating to release of genetically engineered organisms and products into the environment including experimental field trials (Biosafety Research Level trial-I and II known as BRL-I and BRL-II).
Banks to issue Masala bonds
The Reserve Bank of India (RBI) has announced a raft of measures to boost investor participation and market liquidity in both the corporate bond and currency markets.
The central bank will allow commercial banks to issue rupee bonds in overseas markets — known as Masala bonds, both for their capital requirement and for financing infrastructure and affordable housing.
Masala Bonds
Masala bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency. Masala is a Hindi word and it means spices. The term was used by IFC to evoke the culture and cuisine of India. Unlike dollar bonds where the borrower takes the currency risk, masala bond investors will bear the risk. The first Masala bond was issued by the World Bank backed International Finance Corporation in November 2014 when it raised 1,000 crore bond to fund infrastructure projects in India. Later in August 2015 International Financial Corporation for the first time issued green masala bonds and raised Rupees 3.15 Billion to be used for private sector investments that address climate change in India.
In July 2016 HDFC raised 3,000 crore rupees from Masala bonds and thereby became the first Indian company to issue masala bonds. In the month of August 2016 public sector unit NTPC issued first corporate green masala bonds worth 2,000 crore rupees.