Today in history (September 12th, 2008)
David Foster Wallace was an American writer known for his complex and satirical exploration of American culture. He hailed from an academic family, with his father being a philosophy professor. Wallace’s works are highly regarded for their depth and complexity, making him a prominent figure in contemporary literature until his passing on September 12th 2008.
Summary of Today’s News
CBI does not require permission to probe pre2014 cases too: SC
A recent Constitution Bench ruling declared that a 2014 Supreme Court judgment, which invalidated a legal provision (Section 6A of the DSPE Act) requiring prior permission for CBI investigations into corruption cases involving senior government officials, has a retrospective effect. This means that Section 6A, in force since September 11, 2003, is considered void from its inception.
IISc develops novel approach to detect, kill cancer cells
Researchers at the Indian Institute of Science (IISc) have developed hybrid nanoparticles made of gold and copper sulphide. These nanoparticles have a dual purpose: they can kill cancer cells by generating heat and allow for the detection of cancer cells using sound waves. This advancement presents a potential breakthrough in both cancer treatment and diagnosis.
Gresham’s law: what happens when governments fix currency exchange rates
Gresham’s Law, known as “bad money drives out good,” applies when a government fixes the exchange rate between two currencies differently from the market rate. In such cases, the undervalued currency tends to disappear from circulation as people prefer to use the overvalued currency. The market exchange rate represents an equilibrium where supply meets demand, and when a government sets a currency’s price below this rate, the currency’s supply decreases while demand rises, leading to the dominance of the undervalued currency in everyday transactions.
After a year’s delay, CSIR’s Shanti Swarup Bhatnagar awards for 2022 announced
The Council of Scientific and Industrial Research (CSIR) has recently announced the winners of the prestigious Shanti Swarup Bhatnagar (SSB) awards for 2022 after a year’s delay. The SSB awards are highly regarded in the field of science in India, but they were not announced the previous year without an official explanation. These awards are typically revealed on CSIR’s foundation day, which occurs on September 26th, and they are named in memory of the first Director General of CSIR.
