CONTENTS

1. Treasury Bills
2. Mushk budiji Rice

Treasury Bills

Context:

Recently, the Government of India, in consultation with the Reserve Bank of India notified the calendar for the issuance of Treasury Bills for the quarter ending June 2024.

Relevance:

GS III: Indian Economy

About Treasury Bills

Definition and Nature:

• Treasury bills, commonly known as T-bills, are money market instruments.
• These are short-term debt instruments issued by the Government of India.

Maturity Period:

• Currently, T-bills are available in three maturity periods: 91-day, 182-day, and 364-day.

Financial Structure:

• T-bills are zero-coupon securities, meaning they do not pay interest.
• They are issued at a discount to their face value and redeemed at the full face value upon maturity.

Ownership and Utility:

• T-bills can be purchased by individuals, trusts, institutions, and banks, with financial institutions being the primary holders.
• Apart from being investment tools, T-bills play a crucial role in the financial market.
• Banks utilize T-bills for obtaining funds from the Reserve Bank of India (RBI) through repo operations and can also maintain them to meet their Statutory Liquidity Ratio (SLR) obligations.

Functioning:

• T-bills are issued at a discounted price, and the holder receives the full face value upon maturity.
• For instance, a Rs 100 T-bill might be purchased for Rs 95, but the holder will receive Rs 100 upon maturity.
• The yield on T-bills is influenced by the liquidity conditions within the economy. Higher returns are observed during liquidity crunches, and lower returns during surplus liquidity periods.

Mushk Budiji Rice

Context:

Recently, scientists at the Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST), Srinagar, reported that altitude and temperature play an important role in the development of mushk budiji aroma.

Relevance:

GS II: Government policies and Interventions

About Mushk Budiji Rice

Origin and Cultivation:

• Mushk Budiji Rice is an indigenous aromatic rice variety cultivated in the Highland Himalayas.
• Typically grown at altitudes between 5000 to 7000 ft above mean sea level, it thrives in the higher reaches of the Kashmir valley.

Physical Characteristics:

• This rice variety is short, bold, and possesses a distinct aromatic quality.
• When cooked, it offers a unique blend of taste, aroma, and rich organoleptic properties.

Cultivation Regions:

• Predominantly cultivated in specific areas such as Sagam, Panzgam, and Soaf Shali in Anantnag district, and the Beerwah belt in Budgam district.

Traditional Consumption:

• While once widely consumed, the consumption of aromatic rice like Mushk Budiji in Kashmir has become limited to special occasions, weddings, and festivals.

Recognition:

• Mushk Budiji Rice has been accorded a Geographical Indication (GI) tag, highlighting its unique regional identity.

Highlights of the Study

Flavor Profile Analysis:

• Scientists employed gas chromatography-mass spectroscopy (GC-MS) and an ‘electronic nose’ to study the flavor profile of Mushk Budiji rice from selected locations.

Findings:

• The study revealed 35 volatile organic compounds (VOCs) in Mushk Budiji rice samples.
• Aldehydes (compounds with the -CH=O functional group) were found to range from 6.33% to 29.09%, while alcohols (-OH) ranged from 0.47% to 30.34%.
• Acetyl-1-pyrroline (2-AP), a known aromatic compound, was detected only in Mushk Budiji samples from higher altitudes, especially in Budgam and Kupwara districts.

What is Chromatography-Mass Spectroscopy?

Definition:

• Chromatography-mass spectroscopy (GC-MS) is an analytical technique employed to identify and quantify volatile compounds present in organic mixtures.

Applications:

• This method finds applications in analyzing compounds extracted from geological, environmental, and biological samples, aiding in detailed chemical profiling and characterization.