Standardize markdown file syntax

[tinvaan]

Markdown files in the repo do not seem to follow linting guidelines (pre-commit-config.yml actually excludes *.md files) and this is how it looks on my VSCode editor.

Since the project is hosted on Github, it would make sense to follow the Github flavoured markdown syntax for markdown files.

This is a low hanging fruit & a fix can be automated by using a tool like https://mdformat.rtfd.io/

#695 is an attempt to address this.