Binomial Nomenclature

• It is a system of naming any organism in which each species of animal or plant receives a name of two terms of which the first identifies the genus to which it belongs and the second the species itself.
• The main difference between species and genus is the taxonomic rankings that are used for biological classifications of organisms. 
• Genus belongs to a ranking lower than family and above species, whereas species are organisms with similar characteristics that come below the Genus classification ranking.
• Species are a group of organisms with similar features (that are intrinsic only to their species), identical chromosomes count (meaning they have similar form and structure) and sometimes even similar habitat …who produce fertile offspring when they breed.

About the news: 

• A new species, Pyrostria laljii, has been discovered in the Andaman Islands. It is a kind of coffee tree.
• This is also the first record of the genus Pyrostria in India. This genus is quite common in Madagascar.

Features of the species

• It is a big tree distinguished by a long stem with a whitish coating on the trunk.
• It is assessed as ‘Critically Endangered’ based on the International Union for Conservation of Nature’s (IUCN) Red List criteria.

• It has umbellate inflorescence ( In botany, an umbel is an inflorescence that consists of a number of short flower stalks (called pedicels) which spread from a common point, somewhat like umbrella ribs) with 8 to 12 flowers.
• The species has been named Pyrostria laljii after Lal Ji Singh, Joint Director and Head of Office, Andaman and Nicobar Regional Centre, Botanical Survey of India. 

Reference:

1. https://www.merriam-webster.com/dictionary/binomial%20nomenclature
2. https://rangerplanet.com/difference-between-species-and-genus-simple-guide-examples/