W.B.C.S Current Affairs 03 November 2018 to 09 November 2018.

The Importance of Current Affairs in W.B.C.S examinations is immense.Success inW.B.C.S  Prelims and W.B.C.S Mains Exam is mainly subjected to how well an aspirant is aware of the important current affairs. Preparation of current affairs for W.B.C.S is the key to unlock the exam.1) Cabinet Committee on Economic Affairs (CCEA) has approved strategic disinvestment of 100% Government of India’s shares in Dredging Corporation of India Limited (DCIL) to consortium of four ports. Presently, Central Government holds 73.44% shares in DCIL. The consortium of four ports consists of Vishakhapatnam Port Trust (Andhra Pradesh), Paradeep Port Trust (Odisha), Jawahar Lal Nehru Port Trust (Maharashtra) and Kandla Port Trust (Gujarat). The government’s divestment target for fiscal 2018-19 was Rs 80,000 crore and so far it has garnered over Rs 15,000 crore from PSU stake sales. Significance: Strategic sale of DCIL will further facilitate linkage of dredging activities with ports, keeping in view the role of DCIL in expansion of dredging activity in the country as well as potential scope for diversification of ports into third party dredging. The co-sharing of facilities between company as well as ports shall lead to savings for ports. This will also further provide opportunities for larger investment in DCIL as integration with ports shall help ineffective vertical linkage in value chain. Dredging Corporation of India Limited (DCIL): It is miniratna public sector unit (PSU) engaged in the business of dredging. It does dredging for Indian seaports exclusively. It is involved in capital dredging, beach nourishment, and land reclamation. It was established in March 1976 and is headquartered in Visakhapatnam, Andhra Pradesh. It reports to the Ministry of Shipping. Almost all maintenance dredging in Indian seaports is carried out by DCI. It also occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai.Continue Reading W.B.C.S Current Affairs 03 November 2018 to 09 November 2018.

2) Union Cabinet chaired by the Prime Minister Narendra Modi has approved leasing out six airports of Airports Authority of India (AAI) for operation, management and development under Public Private Partnership (PPP) in the first phase. This will be done through Public Private Partnership Appraisal Committee (PPPAC). Union Cabinet also approved constitution of Empowered Group of Secretaries headed by CEO, NITI Aayog with Secretaries of Ministry of Civil Aviation, Department of Economic Affairs and Department of Expenditure to decide on any issue falling beyond scope of PPPAC. Benefits: PPP in infrastructure projects brings efficiency in service delivery, enterprise, expertise and professionalism apart from harnessing needed investments in public sector. The PPP in airport infrastructure projects has brought world class infrastructure at airports, delivery of efficient and timely services to airport passengers, augmenting revenue stream to AAI without making any investment, etc. of these, for development of Greenfield Airports. Presently, Delhi, Mumbai, Bangalore, Hyderabad and Cochin airports are being managed under PPP model.PPP airports in India have been ranked among top 5 in their respective categories by Airports Council International (ACI) in terms of Airport Service Quality (ASQ). These PPP experiments have helped to create world class airports and also helped AAI in enhancing its revenues and focusing on developing airports and air navigation infrastructure in rest of the country.

3) The Union Cabinet chaired by Prime Minister Narendra Modi has approved the filling of Padur Strategic Petroleum Reserves (SPR) in Karnataka by overseas National Oil Companies (NOCs). The filling of the SPR will be under PPP model and is being undertaken to reduce budgetary support of Union Government. The SPR facility at Padur is underground rock cavern with total capacity of 2.5 million metric tonnes (MMT) having four compartments of 0.625 MMT each. Background: Indian Strategic Petroleum Reserves Ltd. (ISPRL) has constructed and commissioned underground rock caverns for storage of total 5.33 MMT of crude oil at three locations namely Mangalore (1.5 MMT), Vishakhapatnam (1.33 MMT), and Padur (2.5 MMT). The total 5.33 MMT capacity under Phase-I of the SPR programme is currently estimated to supply approximately 9.5 days of India’s crude requirement. Government also has given ‘in principle’ approval for establishing additional 6.5 MMT SPR facilities at Chandikhol in Odisha and Padur in Karnataka in phase II which is expected to augment India’s energy security by 11.5 days according the consumption data for FY 2017-18.

4) Union Cabinet has approved setting up of Central Tribal University in Andhra Pradesh. The Union Cabinet meeting was chaired by Prime Minister Narendra Modi in New Delhi. The proposed university will come up after necessary amendment in the Central Universities Act, 2009. Central Tribal University: It will be set up in Relli village of Vizianagaram District of Andhra Pradesh. It will be established under Thirteenth Schedule to Andhra Pradesh Reorganisation Act, 2014 (No. 6 of 2014). Cabinet has also approved provision of funds of Rs. 420 crore for first phase expenditure towards establishment of Central Tribal University.

5) Union Cabinet chaired by Prime Minister Narendra Modi has approved Agreement between India and Morocco on Mutual Legal Assistance in Civil and Commercial Matters. The Agreement will be beneficial for citizens of both the countries. It will also fulfill desire of both countries to strengthen bonds of friendship and fruitful cooperation in Civil and Commercial matters. It will also enhance co-operation in the service of summons, judicial documents, letters of request and the execution of judgments decrees and arbitral awards. Salient features of agreement: Service of summons and other judicial documents or processes; Taking of evidence in civil matters; Production, identification or examination of documents, recordings; Execution of Letter of Request for taking of evidence in civil matters; and Recognition and enforcement of arbitral awards.

6) Union Cabinet chaired by Prime Minister Narendra Modi has approved signing and ratifying Extradition Agreement between India and Morocco. The agreement will be signed during proposed VIP visit from Morocco in November 2018. Benefits of Agreement: It will provide strong legal base for extradition of fugitive offenders who are accused of economic offences, terrorism and other serious offences in one Contracting State and found in another Contracting State. It will also strengthen bilateral relations to deal with criminal elements acting against national interest of both India and Morocco.

7) United States has exempted India from imposition of certain sanctions for development of strategically-located Chabahar port in Iran, along with construction of railway line connecting it with landlocked Afghanistan. The decision comes after US imposed toughest ever sanctions on Iran under Iran Freedom and Counter-Proliferation Act, 2012. Key Facts: The exemptions to India are with respect to development of Chabahar port, construction of associated railway and for shipment of non-sanctionable goods through port for Afghanistan’s use, as well as the country’s continued imports of Iranian petroleum products. This exception relates to reconstruction assistance and economic development for Afghanistan. These activities are vital for ongoing support of Afghanistan’s growth and humanitarian relief. It is also part US President Donald Trump’s South Asia strategy which underscores US’s ongoing support of Afghanistan’s economic growth and development as well as close partnership with India. This strategy states that India has major role in bringing peace and development in Afghanistan. Background: US has imposed toughest ever sanctions on defiant Iran aimed at altering the Iranian regime’s “behaviour”. The sanctions cover Iran’s banking and energy sectors and reinstate penalties for countries and companies in Europe, Asia and elsewhere that do not halt Iranian oil imports. However, eight countries — India, China, Italy, Greece, Japan, South Korea, Taiwan and Turkey — were temporarily allowed to continue buying Iranian oil as they showed significant reduction in oil purchase from Iran.

8) United Nations Postal Administration (UNPA) has issued special stamps with Diyas lamps (special event sheet) to commemorate India Hindu festival of Diwali. These stamps are available at UN headquarters post office in New York, US and also online. Key Facts: The special event sheet (stamps) issued by UNPA are in denomination of US $1.15. It contains ten stamps and tabs featuring festive lights and symbolic lamps known as diyas. The background of sheet features United Nations Headquarters building illuminated with message of “Happy Diwali” to celebrate the spirit of the festival. The description accompanying information about stamps mentioned that Diwali, also known as Deepawali is joyous and popular festival of lights, which is celebrated in India and by followers of many faiths across the world. It also said that during celebration clay lamps known as diyas are lit to signify the victory of good over evil. The festival also symbolises start of new year for many communities. Note: United States Postal Service (USPS) in October 2016 had launched commemorative stamp in honour of festival of Diwali. It was issued after seven-years-long efforts and advocacy by Indian-American community and several Congressional resolutions by influential American lawmakers such as Congresswoman Carolyn Maloney. United Nations Postal Administration (UNPA): It is postal agency of United Nations. It issues postage stamps and postal stationery, denominated in United States dollars for United Nations offices in New York, in Swiss francs for offices in Geneva and in euros for the offices in Vienna. Postage rates charged are identical to those of the host nation.

9) United Nations World Food Programme (WFP) and Chinese e-commerce giant Alibaba Group have formed strategic partnership to support efforts eliminate hunger globally by 2030. The agreement was signed between WFP Executive Director David Beasley and Alibaba Partner and Chairman of Alibaba Foundation Sun Lijun at Alibaba’s headquarters in Hangzhou, China. Key Facts: Under this agreement, Alibaba will lend its cutting-edge technology and resources to support digital transformation of WFP’s operations. In particular, Alibaba Cloud, the cloud computing arm of Alibaba will work with WFP to develop digital “World Hunger Map”. The map will help to monitor global hunger and operations to end scourge by 2030 which is one of UN’s key Sustainable Development goals. It also aims to boost efficiency of interventions and shorten emergency response times. World Food Programme (WFP): The WEF is the food-assistance branch of the United Nations. It is the world’s largest humanitarian organization addressing hunger and promoting food security. It works to help people who cannot produce or obtain enough food for themselves and their families. It is a member of the United Nations Development Group (UNDG) and part of its Executive Committee. It was established in 1961 after 1960 Food and Agricultural Organization (FAO) Conference. It is headquartered in Rome (Italy) and has more than 80 country offices around the world. It provides food assistance to an average of 80 million people in 75 countries each year.

10) Reserve Bank of India (RBI) has liberalised norms governing external commercial borrowings (ECBs) for infrastructure creation. The provisions have been reviewed and decision has been taken in consultation with Central Government. Key Facts: RBI has reduced minimum average maturity required for the ECBs in the infrastructure space raised by eligible borrowers to three years from earlier five years. Additionally, it also has reduced average maturity requirement for mandatory hedging to five years from earlier ten years. Background: The move comes amid concerns surrounding availability of funds following liquidity squeeze and the difficulties being faced by non-bank lenders, especially those facing asset liability issues due to heavy reliance on short-term funding for long-term assets. This, along with defaults by infra lender IL&FS, has hurt credit markets especially infrastructure financing sector. Central Government has been unequivocal in suggesting remedial measures which will address needs of the economy. It had suggested to include special window for NBFCs, but RBI is not undertaking measures. However, relaxations in ECB norms follow other moves by RBI, including earlier it permission to banks to use credit enhancement to help NBFCs raise medium to long-term funds.

11) Uttar Pradesh Government has decided to rename newly-built Ekana International Stadium in capital city Lucknow after former Prime Minister Atal Bihari Vajpayee. The stadium with a seating capacity of around 50,000 will now be known as ‘Bharat Ratna Atal Bihari Vajpayee International Cricket Stadium’. Key Facts: The stadium was renamed just ahead of first-ever international cricket match – T20 International between India and West Indies. For renaming stadium, UP Government through Lucknow Development Authority (LDA) used powers vested as per clause 17.5.1 of agreement signed between Ekana Sports City Private Ltd; GC Constructions; Development Industries Pvt Ltd and LDA. The clause 17.5.1 of agreement says that stadium will be named once project is completed. Its name was changed in memory of Atal Bihari Vajpayee, who passed away in August 2018. The former prime minister was Member of Parliament from Lucknow for five consecutive times between 1991 and 2009. Note: Yogi Adityanath Government in UP earlier this year also renamed Allahabad as Prayagraj and Mughalsarai as Pt. Deen Dayal Upadhyaya nagar.

12) Angad Vir Singh Bajwa won gold medal by setting world record score in men’s skeet final of the 8th Asian Shotgun Championship held in Kuwait. With this, he became first Indian skeet shooter to win continental or world level event. In the final round of this event, Angad shot perfect 60 out of 60 to claim top spot ahead of China’s Di Jin who shot 58, winning silver medal. UAE’s Saeed Al Maktoum won bronze with a score of 46. 10m rifle mixed event: India’s pair of Elavenil Valarivan and Hriday Hazarika won gold medal in this event. In 45-shot final of this event, they scored 502.1, setting world and Asian Junior record in the event. Chinese pair Shi Mengyao and Wang Yuefeng won silver medal with 500.9. India’s another pair Mehuli Ghosh and Arjun Babuta won bronze in the same event with a score of 436.9.Continue Reading W.B.C.S Current Affairs 03 November 2018 to 09 November 2018.

13) India’s first indigenous nuclear submarine INS Arihant has successfully completed its first deterrence patrol. The development signifies that underwater warship has completed its maiden long-range mission with live nuclear-tipped missiles. Key Facts: During deterrence patrol, a nuclear submarine carries nuclear missiles on board, where command and control protocols for its operations are fully tested by its crew. The term deterrence patrol is meant to deter an adversary from launching a first nuclear-strike since SSBN (Ship Submersible Ballistic Nuclear) can launch retaliatory strike within minutes. With this, India completed its survivable nuclear triad by adding maritime strike capability to land and air-based delivery platforms for nuclear weapons. It makes India sixth country — after US, Russia, UK, France and China — to have fully operational nuclear triad. INS Arihant: INS Arihant is India’s first indigenously-designed, developed and manufactured nuclear-powered ballistic missile submarine, and three more such submarines are reportedly under various stages of construction. It was designed in 1990s and its development project was officially acknowledged in 1998. Its design is based on the Russian Akula-1 class submarine. It was launched in 2009 and its nuclear reactor went critical in 2013 and it was commissioned in 2016. It is strategic asset developed for over two decades with Russia’s help under Advanced Technology Vessel (ATV) programme, which comes directly under Nuclear Command Authority headed by the Prime Minister. INS Arihant is 6,000-tonne submarine with length of 110 metres and breadth of 11 metres. It is powered by 83 MW pressurised light water nuclear reactor with enriched uranium fuel. It can carry 12 Sagarika K 15 submarine launched ballistic missiles (SLBMs) having range of over 700 km. As it powered by nuclear reactor it can function submerged for months without having to surface. This feature allows it to travel further and with greater stealth capability. It assures second strike capability to India i.e. capability to strike back after being hit by nuclear weapons first. In case of India, second strike capability is important as it had committed to ‘No-First-Use’ policy as part of its nuclear doctrine. Nuclear triad capability of India: India is sixth Nation in the world (after US, Russia, France, China and UK) to possess Nuclear Triad. It means that India is capable of delivering nuclear weapons by aircraft, land based ballistic missiles and submarine launched missiles. India Army has strong arsenal of land based ICBM (intercontinental ballistic missile). It includes Agni series, Prithvi series, Prahar Missile, Shaurya Missile, supersonic Brahmos and subsonic Nirbhay missiles. Indian Airforce (IAF) operates Jaguars aircrafts which are designed for deep penetration strike and can carry nuclear bomb. Besides, IAF also has SU 30 MKI and Rafale aircrafts which can also be used to deliver nuclear weapons. Indian Navy now has its own nuclear powered ballistic missile submarine INS Arihant capable of delivering nuclear weapons.

14) Union Ministry of Food Processing Industries (MoFPI) approved operationalisation strategy for Operation Greens. Operation Greens was announced by Union Government in Budget 2018-19 to stabilise supply of Tomato, Onion and Potato (TOP) crops. It is aimed at ensuring availability of TOP crops throughout the country round the year without price volatility. Strategy comprises series of measures: Short term Price Stabilisation Measures- National Agricultural Cooperative Marketing Federation of India (NAFED) will be nodal agency to implement price stabilisation measures. MoFPI will provide 50% of subsidy two components of transportation of TOP Crops from production to storage and hiring of appropriate storage facilities for TOP Crops. Long Term Integrated value chain development projects- Capacity Building of FPOs & their consortium. Quality production. Post-harvest processing facilities. Agri-Logistics. Marketing / Consumption Points. Creation and Management of e-platform for demand and supply management of TOP Crops. Assistance and eligibility. The assistance under this strategy will comprise of grants-in-aid at rate of 50% of the eligible project cost in all areas, subject to maximum Rs 50 crores per project. Eligible organisations under it will include State Agriculture and other Marketing Federations, cooperatives, companies, Farmer Producer Organizations (FPO), Self-help groups (SHGs), food processors, logistic operators, supply chain operators, retail and wholesale chains and central and state governments. Operation Greens: It was announced in Union Budget 2018-19 on line of Operation Flood to promote FPOs, agri-logistics, processing facilities and professional management. It aims to promote farmer producers organisations, processing facilities, agri-logistics and professional management. It also aims to aid farmers and help control and limit erratic fluctuations in the prices of tomatoes, onions and potatoes (TOP). It is essentially price fixation scheme that aims to ensure farmers are given the right price for their produce. The idea behind it is to double the income of farmers by the end of 2022. Its major objectives are: Price stabilisation for producers and consumers by proper production planning in TOP clusters. Reduction in post-harvest losses by creation of farm gate infrastructure, development of suitable agro-logistics, and creation of appropriate storage capacity linking consumption centres. Enhance value realisation of TOP farmers by targeted interventions to strengthen TOP production clusters and their FPOs, Increase in food processing capacities and value addition in TOP value chain. Set up of market intelligence network to collect and collate real time data on demand and supply and price of TOP crops.

15) Union Home Ministry has released more than Rs. 113 crore to six border states under Border Area Development Programme (BADP) as part of its plan to ameliorate the problems of people living in isolated locations. These six states are Assam, Nagaland, Sikkim, Gujarat, Rajasthan and Uttarakhand. Key Facts: Till now, Home Ministry has released total of Rs. 637.98 crore during 2018-19 period to states having International Border. The funds released are in addition to the Rs. 1,100-crore released in 2017-18 for the all-round development of villages located along International Border in 17 states. India shares land border with seven neighbouring countries viz. Bangladesh (4,096 km), China (3,488 km), Pakistan (3,323 km), Nepal (1,751 km), Myanmar (1,643 km), Bhutan (699 km) and Afghanistan (106km in Pakistan Occupied Kashmir). Border Area Development Programme (BADP): The umbrella BADP scheme is being implemented by Union Home Ministry in 367 border blocks of 104 border districts in 17 states. Its objective is to meet special developmental needs and well-being of people living in remote and inaccessible areas situated near international border areas. It also seeks to saturate border areas with entire essential infrastructure through convergence of Union, state, BADP, local schemes and participatory approach. Sub-schemes under it include construction of primary health centres (PHCs), connectivity, schools, supply of drinking water, community centres, drainage to enable sustainable living in border areas. It also covers schemes or activities relating to skill development programmes, promotion of sports activities in border areas, promotion of rural tourism, border tourism, protection of heritage sites, Swachhta Abhiyan, construction of helipads in remote and inaccessible hilly areas, which do not have road connectivity. Skill development training to farmers for use of modern and scientific techniques in agriculture, organic farming is also part of BADP now. As many as 61 model villages are being developed under BADP to improve the quality of life for people living near border areas. A total of Rs 13,400 crore so far have been released since BADP programme was initiated in 1986-87.

16) India and South Korea have signed a Memorandum of Understanding for strengthening cooperation in the field of Tourism. The MoU was signed between Union Ministry of Tourism and South Korea’s Ministry of Culture, Sports and Tourism in New Delhi. It was signed during official four-day visit of First Lady of South Korea Kim Jung-sook (wife of incumbent South Korean President Moon Jae-in) to India. First Lady Kim is Chief Guest at Deepotsav event organized by Uttar Pradesh Government in Ayodhya and at ceremony of inaugurating new Memorial of Queen Suriratna (Heo Hwang-ok) in Ayodhya. Ayodhya and Korea have historical connections. It is believed that lAyodhya’s egendary Princess Suriratna had traveled to Korea in 48 CE and married Korean King Suro. Key Facts: South Korea is one of the leading tourists generating market for India from East Asia region. Foreign Tourist Arrivals (FTAs) from South Republic in 2017 were 1, 42, 383 and during January- September were 1, 08,901. The signing of this MoU will be instrumental in increasing tourist arrivals to India from this source market. It will expand bilateral cooperation in tourism sector, increase exchange of information and data related to tourism and encourage cooperation between tourism stakeholders including Hotels and Tour Operators. It will also encourage Investment in the Tourism and Hospitality sectors and promote safe, honorable and sustainable tourism.

17) India and South Korea have signed Memorandum of Understanding (MoU) on sports cooperation. The MoU was signed between Union Ministry of Youth Affairs and Sports and South Korea’s Ministry of Culture, Sports and Tourism in New Delhi. Key Facts: The objective of this MoU is to establish framework to facilitate and promote cooperation between two countries on basis of reciprocity and mutual benefit. Under it two countries will encourage exchanges and cooperative actions between sports authorities, sports federations and other sports bodies in different areas of cooperation, as jointly decided. Cooperation under this MoU may include areas like: Joint training for athletes and officials. Exchange of coaches, athletes, experts. Exchange of scientific and methodical materials. Participation in sports event, seminars, symposia and conferences organized by either country etc.

18) The World Tsunami Awareness Day is observed every year across the world on 5 November 2016 to spread awareness among people across the world about Tsunami. This year it was third edition of World Tsunami Awareness Day after it was instituted in 2015. 2018 World Tsunami Awareness Day is aligned with International Day for Disaster Reduction (observed on 13 October) and “Sendai Seven Campaign”. It focused on Target “c” of Sendai Framework for Disaster Risk Reduction which aims at reducing direct disaster economic loss in relation to GDP. Significance of the Day: Spread awareness among people across the world in matters related to the dangers of tsunami. Stress on importance of early warning systems in order to mitigate damage from devastating natural calamity. Background: The World Tsunami Awareness Day was designated by United Nations General Assembly (UNGA) by adopting a resolution in December 2015. The proposal was first mooted by Japan after the 3rd UN Conference on Disaster Risk Reduction held in Sendai (Japan) in March 2015. This day coincides with the annual anniversary of the 1854 Inamura-no-hi (Fire of Inamura) event. On this day in 1854, a villager in Wakayama Prefecture in Japan through his quick action had saved countless lives after he had set fire to sheaves of rice on the top of a hill, thus warning people of the imminent danger of a tsunami. This was the first documented instance of a tsunami early warning. Tsunami: Tsunamis are large waves that approach crashing on coasts due to seafloor movement, majorly associated with landslides or earthquakes. The word “tsunami” gets its name from the Japanese “tsu” means harbor and “nami” means wave. Tsunami is chain of huge waves created by disturbance created underwater. These waves are normally associated with earthquakes taking place under or around the ocean. Other causes of Tsunami may be submarine landslides, coastal rock falls, volcanic eruptions or extraterrestrial collision. Like many other natural disasters, it is difficult to predict tsunamis but it can be suggested that seismically active areas are more at risk. Tsunami waves are highly dangerous and generally look like strong walls of water. The strong waves can attack seashore for hours, thereby destructing thousands of lives.Continue Reading W.B.C.S Current Affairs 03 November 2018 to 09 November 2018.

19) Reserve Bank of India (RBI) has initiated steps to set up wide-based digital Public Credit Registry (PCR) to capture loan information of individuals and corporate borrowers. In this regard, RBI has invited expression of interest (EOI) for developing PSC from companies with turnover of over Rs 100 crore in last three years. Setting up of PCR assumes significance amidst rising bad loans in financial system. The non-performing assets (NPAs) in Indian banking system is about Rs 10 lakh crore. Public Credit Registry (PCR): PCR is digital registry of authenticated granular credit information. It will work as financial information infrastructure providing access to various stakeholders and enrich the existing credit information ecosystem. It seeks to serve as single point of mandatory reporting for all material events for each loan, notwithstanding any threshold in the loan amount or type of borrower. PCR will capture all details of borrowers, including wilful defaulters and also pending legal suits in order to check financial delinquencies. It will also include data from entities like market regulator SEBI, Corporate Affairs Ministry, Goods and Service Tax Network (GSTN) and Insolvency and Bankruptcy Board of India (IBBI) to enable banks and financial institutions to get 360 degree profile of existing and prospective borrowers on real-time basis. Background: In June 2018, RBI had announced to set up PCR for India with view to address information asymmetry, foster access to credit and strengthen the credit culture in the economy. This decision was taken based on recommendation of high-level task force (HTF) i.e. YM Deosthalee committee which was constituted by RBI to review current availability of information on credit, adequacy of existing information utilities, and identify gaps that could be filled by PCR. Currently, there are multiple granular credit information repositories in India, with each having somewhat distinct objectives and coverage. Within RBI, CRILC is borrower level supervisory dataset with threshold in aggregate exposure of Rs 5 crore. Moreover, there are four privately owned credit information companies (CICs) operating in India. RBI has mandated all its regulated entities to submit credit information individually to all four CICs.

20) Indian Coast Guard (ICG) launches new Offshore patrol vessel (OPV) ICGS Varaha at L&T Kattupalli shipyard near Chennai, Tamil Nadu. It is fourth in the series of 98 M OPVs designed and built indigenously by Larsen & Toubro (L&T). ICGS Varaha: It is fitted with advanced technology navigation and communication equipment, sensor and machinery. Its weaponry includes one 30 mm and two 12.7 mm guns with fire control system. It has been designed to attain maximum speed of 26 knots and has endurance of 5,000 nautical miles. It also equipped with an Integrated Bridge System (IBS), Automated Power Management System (APMS), Integrated Platform Management System (IPMS), and High Power External Fire Fighting (EFF) system. It can carry one twin engine helicopter and four high speed boats, including two inflatable boats, for boarding operation, search and rescue, law enforcement and maritime patrol. It will also be capable of carrying pollution response equipment to contain oil spill at sea. Background: In March 2015, Union Defence Ministry had awarded contract to L&T for construction of seven OPVs awarded. The first and second ships of this project already have been delivered to ICG and are presently based in Western Coast and Eastern Coast of India and third OPV will be delivered in early 2019. The shipyard will deliver all seven ships by March 2021.

21) The National Seminar on Entrepreneurship and Business Development in Ayurveda was held in New Delhi. It was organised by Ministry of AYUSH in association with NITI Aayog with aim of encouraging entrepreneurs and Ayurveda stakeholders towards businesses opportunities in the sector. Key Facts: The seminar is expected to develop awareness among stakeholders about the business opportunities, encouraging young entrepreneurs to use of modern technologies and modern innovations in business development in the sector and highlight opportunities at global level. Nearly 800 participants from across country are expected to participate in main function of 3rd Ayurveda day. It will be attended by experts in marketing, finance management, innovation, telemedicine, the policy makers, experts in start-up as well as experienced entrepreneurs in Ayurveda pharmaceuticals and hospital industry. The deliberations in seminar are expected to educate young entrepreneurs about the various possibilities of business development in Ayurveda sector, usage of modern technology and ease of business being facilitated by Government for promoting their business in the field of Ayurveda.

22) New Delhi Municipal Corporation (NDMC) has launched quick response (QR)-enabled fridge magnets for digital payment of bills. The magnets are personalised and each customer will have unique QR Code mapped to their consumer account number. It is powered by SignCatch – an IT and services company,. QR-enabled fridge magnets: There will be separate magnets provided by the NDMC to its consumers’ doorstep for both electricity and water bills. Consumers can stick these magnets on their refrigerators at home and use their smartphones to scan QR Code on magnet to pay their bills instantly. The QR Code will redirect consumers to their current bill with option to pay using any of digital payment channels active with NDMC like credit/debit cards, net banking, wallet, and UPI. The move will reduce collection costs and expedite revenue realisation. Moreover, these magnets will be extremely useful in cases where a consumer misplaces the pending paper bills. Quick Response (QR) code: It is a two-dimensional (matrix) machine-readable bar code made up of black and white square. This code can be read by the camera of a smartphone. It is used for storing URLs or other information that link directly to text, emails websites phone numbers. It is capable of 360 degrees (omni-directional), high speed reading. It can store up to 7089 digits as compared to conventional bar codes which can store max 20 digits. It encodes same amount of data in one-tenth the space of a traditional bar code. It carries information both horizontally and vertically. It has error correction capability and data stored in it can be restored even if it is partially damaged or dirty.

23) The researchers from Indian Institute of Technology Madras (IIT Madras) have designed India’s first indigenous microprocessor called ‘Shakti’. It is aimed at developing industrial-grade microprocessors and other components of the microprocessor ecosystem. It will also help to reduce dependency on imported microchips and risk of cyber-attacks. Microprocessors are brain of all computing and electronic devices and are used to operate larger high-speed systems and supercomputers. Shakti microprocessor: It was designed, developed and booted by IIT Madras with microchip fabricated in ISRO’s Semi-Conductor Laboratory at Chandigarh. It has been developed under project partly funded by Ministry of Electronics and Information Technology (MeitY), as part of two-decade-old efforts to develop indigenous microprocessors. Its design originates from open source instruction set architecture (ISA), a set of basic instructions called RISC V, which makes it customisable to any device. ISA is programming or machine language and provides commands to processor instructing it on functions to be executed. RISC-V is open, free ISA which enables new era of processor innovation through open standard collaboration. It delivers new level of free, extensible software and hardware freedom on architecture. Significance: It will reduce dependency on imported microchips especially in communication and defence sectors and thus eliminate risk of cyber-attacks. It can be used in mobile computing, wireless and networking systems. It may also provide power to mobile phones, smart meters and surveillance cameras. Parashakti: IIT M researchers are now conducting research on ‘Parashakti’, an advanced microprocessor for supercomputers. It will be super scaler processor that will be ready by December 2018. It will have its applications in desktops and 32 such interconnected microprocessors may be used in supercomputers.

24) Odisha Government launched Aerospace and Defence Manufacturing Policy 2018. The policy is aimed to carry forward process of industrialization through promotion of aerospace and defence manufacturing enterprises, generate employment opportunities and promote value addition. Key Features of Polity: It proposes to extend subsidy upto 50% of cost of land, building, plant and machinery to special purpose vehicle (SPV) for setting up first state-of-the-art Aerospace and Defence Park in the state. This is to attract investment in aerospace and defence manufacturing in the State, the policy. It sets ceiling of Rs. 50 crore for Common Facility Centre, Rs. 30 crore for Technology Innovation Centre and Rs. 25 crore for Testing Centre to be established with private participation. It also provides capital grants of 50% of infrastructure cost limited to Rs. 10 crore for subsequent aerospace and defence parks. It also extends capital subsidy of Rs. 100 crore for first three OEMs (original equipment manufacturer) for setting up manufacturing facilities in the state with investment of at least Rs. 1000 crore and generating 1000 domiciled employment. In addition, it allows interest subsidy allowed up to a limit of Rs. 10 Crore per annum and Rs. 5 crore per annum for first three OEMs setting up manufacturing units in the state based on investment in plant and machinery for amount of more than Rs. 500 Crore and between Rs. 100 crore to Rs.500 crore, respectively. This provision is designed to attract key players to set up units in the state. This will provide impetus for further development of ancillary and downstream units in the state. Enterprises will come up in industrially backward districts namely Kandhamal, Gajapati and Mayurbhanj along with KBK districts will be extended additional incentives.Continue Reading W.B.C.S Current Affairs 03 November 2018 to 09 November 2018.

25) Prime Minister Narendra Modi launched Micro, Small and Medium Enterprises (MSME) Support and Outreach Programme. As part of this programme, PM unveiled 12 key initiatives which will help the growth, expansion and facilitation of MSMEs across the country. There are five key aspects for facilitating the MSME sector. These include access to credit, access to market, technology upgradation, ease of doing business, and sense of security for employees. MSME Outreach Programme: It aims to boost MSME sector it is one of important sector for major generations of employment opportunities. It will run for 100 days covering 100 Districts throughout the country. Various Central Ministers will visit these districts in order to apprise entrepreneurs about various facilities being extended to MSME Sector by Union Government and financial institutions. Under it, entrepreneurs will be encouraged to come forward and make best use of these facilities including access to credit and market, etc. Under Access to Credit aspect of this porgramme, Government will launch 59 minute loan portal to enable easy access to credit for MSMEs. Loans upto Rs. 1 crore will be granted in-principle approval through this portal, in just 59 minutes. The link to this portal will be available at GST portal. Government will give 2% interest subvention for all GST registered MSMEs, on fresh or incremental loans. For exporters who receive loans in pre-shipment and post-shipment period will get increase in interest rebate ranging from 3% to 5%. All MSMEs or companies with turnover more than Rs. 500 crore will now be compulsorily brought on Trade Receivables e-Discounting System (TReDS). This will enable entrepreneurs to access credit from banks, based ontheir upcoming receivables. This will help to resolve their problems of cash cycle. For access to markets for entrepreneurs, Union Government has taken number and now it is mandatory for public sector companies to procure 25 %t, instead of 20% of their total purchases from MSMEs. Out of the 25% procurement mandated from MSMEs, 3% is reserved for women entrepreneurs. It is mandatory for all PSUs of Union Government to be part of GeM. For Technology Upgradation, Government will form 20 hubs and 100 spokes in the form of tool rooms will be established vital part of product design. For ease of doing business, government will establish clusters of pharma MSMEs. 70% cost of establishing these clusters will be borne by the Union Government. For simplification of government procedures, the return under 8 labour laws and 10 Union regulations will be now filed only once year. Now establishments to be visited by an Inspector will be decided through computerised random allotment. Air pollution and water pollution laws now have been merged, and henceforth under them single consent and will be required, besides return will be accepted through self-certification. Government has promulgated ordinance under which, for minor violations under the Companies Act, entrepreneur will no longer have to approach Courts, but can correct them through simple procedures. For Social Security for MSME Sector Employees, government will launch mission to ensure that they have Jan Dhan Accounts, provident fund and insurance.

26) Odisha Government has launched Saura Jalnidhi scheme to encourage use of solar energy in irrigation by farmers. Under this scheme, farmers will be given 90% subsidy and 5,000 solar pumps. This will provide irrigation benefits in 2,500 acres of the state. The beneficiary of this scheme will be farmers who have valid farmer identity cards and have minimum 0.5 acres of agricultural land. Saura Jalnidhi scheme: The scheme was launched as part of state government’s endeavor to increase the use of solar photovoltaic pump sets in those areas so that irrigation facilities can be provided where power system is bad. For this scheme, state government has made a provision of Rs 27.18 crore in the financial year 2017-18. In the first phase, this scheme will be available in those areas where electricity is not available for running the pump set. This scheme will generate 1.52 lakh human day employments annually and provided livelihood to around 5,000 families and also reduce carbon footprints. Under this scheme, farmers will be provided with a well-equipped solar pump irrigation system in convergence mode. It will help to reduce burden of input cost on farmers and also increase agricultural income. It will promote the use of green energy and reduce pollution.

27) Maharashtra state cabinet approved plant for conversion of Indian Navy’s longest-serving aircraft carrier INS Viraat, into India’s first-ever moored maritime museum-cum-marine adventure centre. At present, INS Viraat is at Mumbai’s Naval dockyard after it was decommissioned (retired) in 2017. Key Facts: As per state government’s plan, INS Viraat’s conversion will be on publicprivate-partnership (PPP) basis. It will be grouted (grounded, sealed to seabed with concrete and moored) seven nautical miles off Malvan coast at Nivati rocks in Sindhudurg districct. This ship will host biodiversity centres and marine adventure centre providing sailing and scuba-diving experiences. There will be virtual galleries, cafeterias and even training centre for merchant navy crew. World over only seven aircraft carriers so far have been converted into museums, theme parks and luxury hotel. INS Viraat: It was built in 1943 during Second World War and was first commissioned as HMS Hermes into the British Royal Navy in November 1959. During the Falklands War in 1982, the aircraft carrier had served as flagship of the Royal Navy’s task force. British navy had decommissioned in 1985 after 27 years of service. It has sailed nearly 11 lakh km, enough to cover the globe 27 times. It had spent 30 years in Indian Navy and 27 years in Royal British Navy. It was commissioned into the Indian Navy on May 12, 1987. It had played a major role in Operation Jupiter in 1989 in the Sri Lankan peace keeping operation. It had participated in the standoff Operation Parakram in 2001-20012 when India and Pakistan were engaged in a standoff post the Parliament terror attack. Its last operational deployment was for participation in International Fleet Review held at Visakhapatnam, Andhra Pradesh in February 2016. INS Viraat holds Guinness Books of record of being the longest serving warship in the world.

28) India and Japan signed Loan Agreement worth Rs. 1817 crore for construction of Turga Pumped Storage (I)’ Hydel Project. On completion, this project will contribute to Industrial Development and Living Standard Improvement in the West Bengal. Key Facts: This loan agreement was signed between Union Ministry of Finance, Government of India and Mr. Katsuo Matsumoto, Chief Representative Japan International Cooperation Agency (JICA). The objective of project is to strengthen capability to respond to fluctuation in supply and demand of power. It also seeks to improve stability of power supply by constructing pumped storage facilities, thereby contributing to industrial development and improvement of Living Standard of people in West Bengal. Background: India and Japan have long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has steadily progressed, which has further consolidated and strengthened Strategic and Global Partnership between them.

29) Union Cabinet has approved proposal for promulgation ordinance to amend the Companies Act, 2013. The ordinance had received assent from President Ram Nath Kovind under Article 123 and has been promulgated. The amendments to the Act are aimed to promote ease of doing business as well as ensure better compliance levels. Key Facts: The ordinance to change Companies Act seeks to declog National Company Law Tribunals (NCLTs) and decriminalise minor offences by companies. The ordinance will transfer 90% of the cases to regional directors under Ministry of Corporate Affairs from NCLTs. Moreover, it will retain status of all non-compoundable offences since they are serious in nature. Background: Union Government-appointed Committee (headed by Corporate Affairs Secretary Injeti Srinivas) had suggested various changes to Act, including restructuring of corporate offences under companies law and in-house adjudication mechanism to ensure that courts get more time to deal with serious violations. Apart from restructuring of corporate offences to relieve special courts from adjudicating routine offences, the committee had mooted re-categorisation of 16 out of 81 compoundable offences under the Act. This move was recommended to bring down NCLT’s load as it looks at insolvency and bankruptcy cases as well. It also recommended disqualification of directors in case they have directorships beyond permissible limits and capping an independent director’s remuneration. It also had suggested that remuneration any independent director gets from company should be capped at 20% of his gross income in year to prevent any material pecuniary relationship, which could impair their independence on the board.

30) Indian Railway has eliminated all Unmanned Level Crossings (UMLCs) on Broad Gauge routes (rails separated by 1676 mm or 1.67m of distance) from 12 of its total 16 zones. These 12 zones are Central Railway, Eastern Railway, East Coast Railway, East Central Railway, North Eastern Railway, Southern Railway, North East Frontier Railway, South Central Railway, South Eastern Railway, South East Central Railway and West Central Railway. Key Facts: Out of total of 3,479 UMLCs on broad gauge routes still existing till April 2018, 3,402 have been eliminated in. The balance 77 UMLCs have also been planned to be eliminated by December 2018. Most of UMLCs that have been eliminated are either by provision of subway, road under bridges or by manning. All UMLCs on routes having speed more than 130KMPH and on Sub-urban routes have been eliminated. By elimination of UMLCs on war footing, accidents have reduced from 65 in 2009-10 to 3 in 2018-19.

31) Union Ministry of Railways has launched Unreserved Mobile Ticketing facility (UTS on Mobile) to enable seamless booking of unreserved tickets including season tickets and also platform tickets all over Indian Railways. This will remove the need for passengers to wait in queues for purchasing the tickets. UTS on Mobile aims to promote three C’: Cashless transactions (Digital payment), Contact less ticketing (no need to physically visit the point of sale) and Customer convenience and experience. With this, booking of unreserved tickets on all non-suburban sections across all Zonal Railways will be now made available on mobile. Unreserved Mobile Ticketing facility: The facility for booking unreserved tickets is available through ‘UTSONMOBILE’ app, available for mobile phones with Android, IOS and windows operating systems. The process of ticket booking involves downloading application on mobile phone and registration by furnishing the necessary details. After successful registration, user is given user-ID and password through which user can log-in and book ticket through this app within the ticketing area and outside Geo-fenced area. The payment can be made by user digitally using R-Wallet, debit card, credit card, net-banking, UPI and other e-wallets. Benefits: This environment friendly initiative will allow seamless booking of unreserved tickets all over Indian Railways. It will obviate need for passengers to wait in queues for purchasing tickets. It will also enhance experience for booking unreserved tickets i.e. for journey, platform tickets, season tickets etc.

32) Justices Hemant Gupta, R Subhash Reddy, Mukesh Kumar Rasikbhai Shah and Ajay Rastogi were sworn-in as the Judges of Supreme Court. They were administered oath of office by Chief Justice Ranjan Gogoi. They will have tenure till they attain age of 65. Key Facts: These four new judges of SC were appointed by President Ram Nath Kovind under Article 124 based on the recommendation of SC Collegium comprising CJI Ranjan Gogoi, Justice Madan B Lokur, Justice Kurian Joseph, Justice A K Sikri and Justice S A Bobde. With this total number of judges at the Supreme Court rose to 28. The sanctioned strength of Supreme Court judges in 31 including Chief Justice. Prior to this elevation, Justice Gupta served as Chief Justice of Madhya Pradesh High Court; Justice Rastogi as Chief Justice of the Tripura High Court; Justice Shah as Chief Justice of the Patna High Court and Justice Reddy as Chief Justice of Gujarat High Court.

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