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PIB Summaries 29 March 2024

  1. Treasury Bills
  2. Mushk budiji Rice


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.


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.


  • 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.


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.


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.


  • 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.


  • 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?


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


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

April 2024