Mandala in art

• Mandala patterns are a centuries-old motif that are used to depict the cosmos, and have been adapted by artists the world over, each of whom have added their own interpretation and painted it as their own. 
• Literally meaning “circle” or “centre” in Sanskrit, mandala is defined by a geometric configuration that usually incorporates the circular shape in some form.
• While it can also be created in the shape of a square, a mandala pattern is essentially interconnected. It is believed to be rooted in Buddhism, appearing in the first century BC in India.
• There are various elements incorporated within the mandala, each of which has its own meaning.
• For instance, the eight spokes of the wheel (the dharmachakra) represent the eightfold path of Buddhism (practices that lead to liberation from rebirth).
• The lotus flower depicts balance, and the sun represents the universe. Facing up, triangles represent action and energy, and facing down, they represent creativity and knowledge.

Alpha

• Alpha reflects the degree to which a stock's returns meet or exceed the returns generated by the market.

• Alpha is an important tool for many investors when trying to figure out if their investments are doing well.
• Alpha is more useful in the context of overall portfolio analysis because the distribution of investment capital over several different securities allows for diversification.
• A positive alpha indicates the security is outperforming the market.
• Conversely, a negative alpha indicates the security fails to generate returns at the same rate as the broader sector.

ADIZ and meridian line

• Many nations have so-called air defence identification zones including United States, Canada, South Korea, Japan and China.
• They are not same as country’s air-space and are much wider area in which any foreign air-craft is expected to announce itself to local aviation authorities.
• This is intended to allow greater time for a country to identify and respond to a potentially hostile air craft.
• The median line is an unofficial but once largely adhered to border thart runs down the middle of the Taiwan strait which separates Taiwan and China.
• No agreement or treaty ever solidified its status. But over the decades it helped keep Taiwan and China’s militaries apart.

Remission

• Remission is shortening of a sentence without changing its character. It is not a right but based on executive discretion, as observed by the SC in the State of Haryana vs. Mahender Singh.
• As per law, there are three kinds of remissions  constitutional, statutory and those earned in accordance with jail manuals.
• While Article 72 of the Constitution empowers the President to grant remission, Article 161 vests similar power with the Governor.
• The provisions under Sections 432 and 433 of the Code of Criminal Procedure (CrPC) lay down rules for the State governments to suspend or remit sentences.
• Section 432 empowers the ‘appropriate government’ to suspend or remit the sentence of a prisoner.
• Section 433A which deals with the power to commute sentences, however, states that a prisoner shall not be released before 14 years of undergoing sentence in the case of two kinds of life convicts.
• Section 435 states that in certain cases, the States have to act in consultation with the Central government.

Overseas Borrowings

• The argument behind borrowing in foreign currencies is that when there is interest-rate disparity between the domestic and foreign markets (favouring the latter), it becomes cheaper to service such loans.
• It is crucial to note the borrower is still open to exchange risk, notwithstanding the difference in interest to be paid.
• If the domestic currency were to decline compared with the foreign currency, the company is liable to pay more than it had bargained for in real terms.
• A revenue earned in foreign currencies may not be a sufficient hedge for companies borrowing excessively due to low-interest rates.
• The problem with borrowing in the current environment is the impending risk of a recession due to increased interest rates to curb inflation.