1) Indigenously developed Anti-Tank Guided Missiles (ATGM) Nag was successfully test-fired in desert conditions against two tank targets at different ranges and timings. With this, the developmental trials of Nag missile have been completed and it is now ready for induction. ATMG Nag: ATMG Nag is one of five missile systems developed indigenously by DRDO under integrated guided missile development programme (IGMDP). The other four missiles are Agni, Akash, Trishul and Prithvi. It is manufactured by India’s sole missile producer, state-owned Bharat Dynamics Limited. The Nag missile is third generation ATMG which works on “fire and forget” principle. It has operational range of 500m to 4km (Land version) and 7-10km (when air-launched). It is equipped with highly advanced Imaging Infrared Radar (IRR) seeker along with integrated avionics. This technology is possessed by very few nations. It also possesses advanced passive homing guidance system. It has been designed mainly to destroy modern main battle tanks and other heavily armoured targets. It can be launched from land and air-based platforms. Variants: The helicopter launched version known of NAG missile is known as NAG (HELINA) can be fired from Dhruv advanced light helicopter (ALH) and HAL Rudra attack helicopter. The land-based version of missile is at present available for integration on the Nag missile carrier (NAMICA).
2) Union Cabinet has approved the proposal of Ministry of Commerce and Industry to give focused attention to 12 identified Champion Services Sectors (CSS) for promoting their development and realizing their potential. 12 identified CSS are: Information Technology & Information Technology enabled Services (IT & ITeS), Medical Value Travel, Transport and Logistics Services, Tourism and Hospitality Services, Accounting and Finance Services, Audio Visual Services, Communication Services, Legal Services, Construction and Related Engineering Services, Environmental Services, Financial Services and Education Services. Key Facts: Cabinet also has directed Ministries/Departments concerned with these sectors to utilize available draft sectoral plans to finalize and implement Action Plans for identified CSS. The respective Ministries/Departments will finalize Action Plans and implementation timelines along with monitoring mechanism to monitor implementation under overall guidance of Committee of Secretaries (CoS) under Cabinet Secretary. Government will set up dedicated fund of Rs. 5000 crores to support initiatives for sectoral Action Plans of the Champion Sectors. These Action Plans will develop vision for each of these identified Champion Sectors by year 2022 and enumerate steps that need to be taken to achieve that vision. Significance: It will enhance competitiveness of country’s service sectors through implementation of focused and monitored Action Plans. It will promote GDP growth, create more jobs and promote exports to global markets. Competitive services sector will also add to competitiveness of manufacturing sector as well. Background: The share of India’s services sector in global services exports was 3.3% in 2015 compared to 3.1% in 2014. Based on this initiative, a goal of 4.2 % has been envisaged for 2022. Its share in Gross Value Added (GVA) was about 53% in 2015-16 (61 % including construction services). The Group of Secretaries in their recommendations to Prime Minister, had identified 10 Champion Sectors, including three (3) services sectors related sectors and seven (7) manufacturing, for promoting their development and achieving their potential. It was subsequently decided that Department of Industrial Policy and Promotion (DIPP), the nodal department for ‘Make in India’ will spearhead initiative for Champion Sectors in manufacturing and Department of Commerce (DoC) will coordinate proposed initiative for Champion Sectors in Services.
3) The Cabinet Committee on Economic Affairs (CCEA) has approved proposal to double guarantee to Rs. 19,000 crore from earlier Rs 9,500 crore to National Agricultural Cooperative Marketing Federation of India (NAFED) for obtaining credit from banks for procurement of pulses and oilseeds at the support price. The regularization and extension is for undertaking procurement operation of pulses and oilseeds under Price Support Scheme (PSS). The CCEA also approved Government Guarantee up to Rs. 45 crore to the Small Farmers Agri-Business Consortium (SFAC) for meeting its existing liability and settlement of extant claims. The guarantee will be provided for period of 5 years, till 2021-22 and with waiver of 1% of government guarantee fee. Background: As the market price of almost all pulses and oilseeds are ruling below Minimum Support Price (MSP) as notified by Government, provision of Government Guarantee will help in protecting farmers producing these commodities from making distress sales during peak arrival period. It will also provide remunerative prices to encourage higher investment and production. It will also provide to safeguard interest of consumer by making available supplies at reasonable price with low cost of intermediation. National Agricultural Cooperative Marketing Federation of India Ltd (NAFED): NAFED is apex organization of marketing cooperatives for agricultural produce in India. Its headquarters is located in New Delhi. It was founded in October 1958 to promote trade of agricultural produce and forest resources across the nation. It functions under Ministry of Agriculture. NAFED is now one of the largest procurement as well as marketing agencies for agricultural products in India. In 2008, it had established, National Spot Exchange, a Commodities exchange as a joint venture of Financial Technologies (India) Ltd. (FTIL).
4) According to index of eight core industries released by Ministry of Commerce and Industry, Core sector growth has grown at faster pace of 6.7% in January 2018 against 3.4% in January 2017. The eight core sectors had grown by 4.2% in December 2017 and 7.4% in November 2017. Key Facts: Cumulatively, the growth in eight core sectors during April-January this fiscal slowed to 4.3% as against 5.1% in the same period last fiscal. The growth in key sectors will have implications for Index of Industrial Production (IIP) as these eight segments account for about 41% of the total factory output. Breakup of January performance:: Petroleum refinery production: It jumped up by 11%. Cement output: It jumped up by 20.7%. Electricity generation: Its growth rose to 8.2%. Coal sector output: It improved by 3%. Steel production: It grew by 3.7%. Crude oil production: It dropped by 3.2%. Fertiliser output: It dropped by 1.6%. Natural gas: Its output fell by 1%. Core Industry sector: Core industry can be defined as main industry of the economy. In most countries, there is particular industry that seems to be backbone of all other industries and it qualifies to be the core industry. In India, there are eight core sectors comprising of coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity. Latest weightage in core sectors: Petroleum Refinery production (weight: 28.04%), Electricity generation (19.85%), Steel production (17.92%), Coal production (10.33%), Crude Oil production (8.98%), Natural Gas production (6.88%), Cement production (5.37%), Fertilizers production (2.63%)
5) Pakistan has confirmed that it will be added on ‘grey list’ of the Financial Action Task Force (FATF) in June 2018, once an action plan is mutually negotiated. But it has disputed claims of being put on ‘black list’ from ‘grey list’, which are mainly non-cooperative countries. Earlier, Pakistan was on the FATF grey-list from 2012 to 2015. Background: In February 2018 plenary session of FATF, US, UK, Germany and France had pushed for putting Pakistan on grey list for its ineffectiveness to deal Islamist terrorists especially Haqqani Network and its facilitators. FATF had decided to put Pakistan back on “grey list,” subjecting it to direct monitoring and intense scrutiny by the International Co-operation Review Group (ICRG) on terror financing, pending further review in June 2018. The FATF decision was by consensus, after days of closed-door discussions within the 37-member group. Impact of Grey-listing: It will endanger Pakistan’s handful of remaining banking links to t outside world, causing real financial pain to the economy. It will squeeze Pakistan’s economy and make it harder to meet its mounting foreign financing needs, including potential future borrowings from International Monetary Fund (IMF). It will lead to downgrading of Pakistan’s debt ratings by international banking and credit rating agencies, making it more difficult to tap funds from international bond markets. It will also suspend international funds and aid to Pakistan such as Coalition Support Funds (CSF), money which US owes to Pakistan for military operations. Financial Action Task Force (FATF): FATF is an inter‐governmental policy making body that aims to establish international standards for combating money laundering and terrorist financing. It was established in 1989 during the G7 Summit in Paris (France) to combat the growing problem of money laundering. It comprises over 39 member countries including India. FATF Secretariat is housed at the headquarters of the OECD in Paris. Initially, FATF was only dealing with developing policies to combat money laundering. But in 2001 its purpose was expanded to act against terrorism financing. Mandate: FATF set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to integrity of international financial system. Functions: Set international standards to combat money laundering and terrorist financing. Assess and monitor compliance with the FATF standards. Conduct studies of money laundering and terrorist financing methods, trends and techniques. Respond to new and emerging threats, such as proliferation financing used for promoting proliferation of nuclear, chemical and biological weapons.
6) The Defence Acquisition Council (DAC) chaired by Defence Minister Nirmala Sitharaman has approved various procurement proposals for three services estimated at about Rs. 9,435 crore. The proposals includes purchase of 41,000 light machine guns (LMGs) and over 3.5 lakh close quarter battle (CQB) carbines, High-capacity radio relay (HCRR) and two Pollution control vessels (PCV). DAC is Defence Ministry’s highest decision-making body on procurement. Key Facts: LMGs and CQB carbines: The carbines will be procured at cost of Rs. 4,607 crore and LMGs Rs. 3,000 crore. The approval is first step in long-drawn defence procurement procedure, and conclusion of final deals will take several years. Of the purchases, 75% will be through Indian industry under Buy and Make (Indian) category and balance through Ordnance Factory Board (OFB). It will enable the defence forces to meet their immediate requirement for troops deployed on border. It will also address shortage of small arms for armed forces. High-capacity radio relay (HCRR): It will be procured at essential quantities for Indian Army and Air Force at about Rs. 1,092 crore. The HCRRs will provide fail-safe and reliable communication along with increased bandwidth in tactical battle area. Pollution control vessels (PCV): Indian Coast Guard will get two pollution control vessels (PCV) at an approximate cost of Rs.673 crore. These PCVs will carry out pollution control and will be capable of undertaking patrolling, search and rescue and limited salvage and fire-fighting operations at sea. They will be built by Indian shipyards at an approximate cost of Rs. 673 crore. It will enhance Indian Coast Guard’s (ICG) ability to rapidly undertake pollution control measures off east coast and island territories.
7) According to Nikkei India Manufacturing Purchasing Managers Index (PMI), India’s manufacturing sector activity fell to four-month low in February 2018 as factory output and new business orders rose at slower pace. The monthly PMI fell to 52.1 in February 2018 from 52.4 in January 2018, indicating modest improvement in operating conditions. A reading above 50 on index denotes expansion and less than that indicates contraction in activities. Key Facts: This is for seventh consecutive month that PMI remained above 50-point-mark that separates expansion from contraction. The expansion was primarily driven by significant rise in manufacturing production, while there were reports of improved underlying demand, with domestic and external sources driving new business gains. In December 2017, PMI had touched a 60-month high of 54.7. In response to greater production requirements, firms raised their staffing levels during February 2018. Although modest, the pace of job creation was slightly faster than January. PMI Survey on prices front found that cost inflation has accelerated to sharpest since February 2017, adding to expectations that inflationary risks will continue over coming months. It also noted that Indian manufacturers remained optimistic towards 12-month outlook for output during February 2018. Purchasing Managers’ Index (PMI): PMI is an indicator of business activity-both in the manufacturing and services sectors. It is a survey-based measure that asks respondents about changes in their perception of some key business variables from month before. It is calculated separately for manufacturing and services sectors and then composite index is constructed. Implications for economy: PMI is usually released at start of month, much before most of official data on industrial output, manufacturing and GDP growth is made available. It is, therefore, considered a good leading indicator of economic activity. Manufacturing growth measured by PMI is considered good indicator of industrial output.
8) The Union Cabinet has approved signing and ratifying Agreement between India and Jordan on Cooperation and Mutual Administrative Assistance in Customs Matters. It will help in availability of relevant information for prevention and investigation of Customs offences. It is also expected to facilitate trade and ensure efficient clearance of goods traded between countries. Key Facts: The Agreement will provide legal framework for sharing of information and intelligence between Customs authorities of two countries and help in proper application of Customs laws, prevention and investigation of Customs offences and facilitation of legitimate trade. Background: The draft text of Agreement was finalized with concurrence of Customs Administrations of both countries. It takes care of Indian Customs’ concerns and requirements, particularly in area of exchange of information on correctness of Customs value, tariff classification and origin of goods traded between two countries.
9) The Union Cabinet has approved signing of a Memorandum of Understanding (MoU) between India and Jordan on cooperation in the field of Health & Medical Science. Working Group will be set up to to oversee the implementation of this MoU and further elaborate the details of cooperation. MoU covers the following areas of cooperation: Health Research. Tobacco Control. Chronic Disease Control. National Health Statistics. Health System Governance. Universal Health Coverage (UHC). Health Finance and Health Economy. Services and Information Technology in Health. Regulation of Pharmaceuticals and Medical Devices. Diagnosis, Treatment and Medication in Tuberculosis.
10) The Union Cabinet has approved signing of Memorandum of Understanding (MoU) between India and Jordan for mining and beneficiation of Rock Phosphate and Muriate of Phosphate (MOP). It also approved setting up production facility in Jordan for Phosphoric Acid/NPK/DAP Fertilizers with long term agreement for 100% off-take to India. The MoU will ensure consistent supply of raw material, intermediaries and finish Phosphatic and Potassic (P&K) fertilizers to cater to needs of country at a reasonable price. MoU on Cooperation in Field of Manpower: The Union Cabinet also approved the proposal for signing of MoU on Cooperation in the Field of Manpower between India and Jordan. It aims at enhancing collaboration between two countries in promoting best practices in administration of contractual employment. The MoU will be valid for period of 5 years and incorporates provision of automatic renewal and monitoring mechanism through Joint Technical Committee (JTC). It reflects latest reforms in recruitment processes and enhances protection and welfare of Indian workers in Jordan. It is expected to usher in greater transparency and curb malpractices in the recruitment process due to use of online portal for recruitment of Indian manpower.
11) The Union Cabinet has approved the Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018 for introduction in the Parliament. Human Trafficking is third largest organized crime violating basic human rights. At present there is no specific law to deal with this crime. The bill addresses the issue of human trafficking from point of view of prevention, rescue and rehabilitation. Features of Bill: It takes into consideration aggravated forms of trafficking. It includes trafficking for purpose of forced labour, begging, trafficking of a woman or child for the purpose of marriage or under the pretext of marriage or after marriage, trafficking by administering chemical substance or hormones on a person for the purpose of early sexual maturity etc. It prescribes punishment for promoting and facilitating trafficking of person. It includes producing, printing, issuing or distributing unissued, tampered or fake certificates, registration or stickers as proof of compliance with Government requirements, or commits fraud for procuring or facilitating acquisition of clearances and necessary documents from Government agencies. It deals with confidentiality of victims and witnesses and complainants by not disclosing their identity. It will be maintained by recording their statement through video conferencing (it will help trans-border and inter-State crimes). It has provision for time bound trial and repatriation of the victims. It will be within a period of 1 year from taking into cognizance. It provides immediate protection of rescued victims and their rehabilitation. The victims will be entitled to interim relief immediately within 30 days to address their physical, mental trauma etc. and further appropriate relief within 60 days from the date of filing of charge sheet. It creates Rehabilitation Fund for the first time. It will be used for physical, psychological and social well-being of victim including education, skill development, health care and psychological support, legal aid, safe accommodation etc. It mandates designation of courts in each district for the speedy trial of the cases. It creates dedicated institutional mechanisms at District, State and Central level. They will be responsible for prevention, protection, investigation and rehabilitation work related to trafficking. The tasks of Anti-Trafficking Bureau at the national level will be performed by National Investigation Agency (NIA). The punishment prescribed under it ranges from rigorous minimum 10 years to life and fine not less than Rs. 1 lakh. In order to break the organized nexus, both at national and international level, it mandates for attachment & forfeiture of property and also proceeds for crime. It comprehensively addresses transnational nature of the crime. It entrusts National Anti-Trafficking Bureau (NATB) to perform functions of international coordination with authorities in foreign countries and international organizations. Significance: The Bill addresses one of most pervasive yet invisible crimes affecting most vulnerable persons especially women and children. It will make India leader among South Asian countries to combat trafficking, as UNODC and SAARC nations are looking forward to India to take lead by enacting this law.
12) The Cabinet Committee on Economic Affairs (CCEA) has approved continuation of Prime Minister’s Employment Generation Programme (PMEGP) beyond 12th Plan for 3 years from 2017-18 to 2019-20. The scheme has been extended with total outlay of Rs. 5,500 crore to create sustainable estimated employment opportunities for 15 lakh persons in three financial years. Key Facts: Targets under the continuation period has been fixed taking into account extent of backwardness of states, unemployment, fulfillment of previous year targets and population of States/UTs and availability of traditional skills and raw material. Minimum target of 75 projects per district will be awarded to all districts across country to achieve Inclusive Growth. Higher rate of subsidy (25% to 35%) will be applicable for women, SC/ST, OBC, Physically Disabled, NER applicants in rural areas. The entire process of application flow and fund flow right from receipt of application, processing, sanction by banks, transfer of margin money subsidy till creation of Term Deposit Receipt (TDR) in name of applicant will be online. Background: PMEGP is major credit-linked subsidy programme being implemented by Ministry of MSME since 2008-09. It is aimed at generating self-employment opportunities through establishment of micro-enterprises in non-farm sector by helping traditional artisans and unemployed youth in rural as well as urban areas. Khadi and Village Industries Commission (KVIC) is nodal implementation agency at national level. At State and district level, State offices of KVIC, Khadi and Village Industries Boards (KVIBs) and District Industry Centres (DIC) are the implementing agencies.
13) Chinese electronic device and smartphone maker Huawei has unveiled Balong 5G01, world’s first 5G chip at Mobile World Congress 2018 held in Barcelona, Spain. The company also showed its f5G-ready CPE equipment. Balong 5G01 chipset: The chip has been designed and manufactured by Huawei. It offers 3GPP standard 5G connectivity and provides downlink speeds of up to 2.3Gbps. It supports 5G connectivity across all frequency bands including sub-6GHz and millimetre wave (mmWave) to offer a complete 5G solution suitable for multiple use cases. The chip is designed for multiple use cases and is claimed to be first to offer 5G connectivity at network, device, and chipset level. f5G-ready CPE equipment: The f5G-ready CPE equipment will be available in two variants. The first will support low-frequency 5G bands and other will cater needs for high-frequency offerings. Compatible with both 4G and 5G networks, the CPE equipment can enable speeds of up to 2Gbps. 5G: 5G is wireless communication technology based on third-generation partnership project (3GPP). It is next generation mobile networks technology after 4G LTE networks. It will offer far greater upload and download speed available at present.
14) China-based Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion in loans to India for infrastructure-related projects in 2018. The funds will be used for investment in India’s energy, roads and urban development projects. It also includes $200 million commitment to India’s National Investment and Infrastructure Fund (NIIF) to spend on roads, housing and urban development. AIIB will let the Indian government decide how to use that money. Asian Infrastructure Investment Bank (AIIB): AIIB is a multilateral development bank initiated by China. Its purpose is to provide finance to infrastructure development and regional connectivity projects in the Asia-Pacific region. It was officially established in December 2015 and opened for business in January 2016. It is headquartered in Beijing. Its goals are to boost economic development in Asia-Pacific region, provide infrastructure, and promote regional cooperation and partnership. It prioritises investment in energy, power generation, transport, rural infrastructure, environmental protection and logistics in Asia. So far it has 84 members including India. It has an authorised capital of US $100 billion. China is the largest shareholder of AIIB with 26.06% voting shares. India is the second largest shareholder with 7.5% followed by Russia 5.93% and Germany with 4.5%.
15) The Ministry of Drinking Water & Sanitation has launched second project of Swajal Yojana at village Bhikampura, Karauli, Rajasthan. It was launched by Union Minister of Drinking Water and Sanitation Uma Bharti. Under this project, four reservoirs will be constructed in village and common tap connection will be given to almost 300 households. Swajal Yojana: Swajal is community owned drinking water programme for sustained drinking water supply. The scheme aims at ensuring availability of clean drinking water to every household round year and also generate employment. Under it, 90% of the project cost is borne by Government and remaining 10% cost is contributed by the community. The Operations and management of the project will be taken care by the local villagers. Project undertaken under it will ease lives of people and ensure that potable water is available for every individual round the year.
16) India’s first Aviation Multi Skill Development Centre (MSDC) was launched at Chandigarh Airport’s old terminal. The Centre is a CSR initiative of Airports Authority of India (AAI) and will initially train 2,360 students free of cost in three years. Aviation MSDC: The Centre was established in collaboration with National Skill Development Corporation (NSDC). It is supported by Aerospace and Aviation Sector Skill Council (AASSC) of India. It will impart training based on course curriculum and assessments designed by AASSC in accordance with National Skill Qualification Framework (NSQF). It will train about 2,400 youth and women in 8 aviation job roles over next 3 years. Background: Demand for aviation skilled personnel is rising commensurately in India with boom in civil aviation sector witnessed in last 3-4 years. In the coming few years, more than 900 new aircraft are expected to be inducted by Indian scheduled airlines. Air connectivity for both passenger transport and air freight is increasing with new air routes and operationalisation of unserved and underserved airports through UDAN (Ude Desh Ka Aam Nagrik) Regional Connectivity Scheme (RCS). With this, aircraft maintenance, repair and overhaul (MRO) and ground-handling demands for skilled personnel are also rising in tandem.
17) The Union Commerce and Industry ministry has appointed four institutes to interact with stakeholders and suggest measures to push India’s ranking in World Bank’s Ease of Doing Business Index. They are National Institute of Construction Management and Research (NICMAR), Indian Institute of Foreign Trade (IIFT), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI). Key Facts: These four institutes will take views of respondents on parameters which are taken into in ranking process. They will then share feedback with concerned ministries. The parameters include – starting business, dealing with construction permits, registering property, getting electricity, protecting minority investors, getting credit, paying taxes, trading across borders, enforcing contracts and resolving insolvency. ICAI will look into paying taxes parameter while ICSI and IIFT will work on starting a business and trading across borders respectively. NICMAR will collate feedback on dealing with construction permits. The move will help further push India’s ranking. Improvement in ease of doing business will help attract more investments by ensuring a better business climate for investors. Background: As per the latest World Bank’s Doing Business ranking 2017, India’s position had improved by 30 places to 100th. The government wants India to figure within top 50 in the coming years. In the 2018-19 Budget speech, Finance Minister Arun Jaitley had mentioned that to further improve ease of doing business, the government has identified 372 action points for states which they will carry out in a mission mode.
18) The National Science Day is observed every year on 28th February with an objective to spread message of importance of science and its application among the people. The theme for National Science Day 2018 is “Science and Technology for a sustainable future.” Significance of Day: The day is observed to mark the discovery of Raman effect by Physicist CV Raman on 28th February, 1928. For his discovery, CV Raman was awarded the Nobel Prize in Physics in 1930. Background: The National Science Day was instituted by Central Government in 1986 based on the demand of National Council for Science and Technology Communication. The first National Science Day was celebrated on 28 February 1987. It is celebrated to spread message about importance of science used in daily life of people and popularise science and technology. It also gives an opportunity to scientific-minded citizens in country to showcase their work in organized shows. Raman effect: It is the inelastic scattering of a photon by molecules which are excited to higher vibrational or rotational energy levels. In this phenomenon, some part of light beam after passing through transparent medium gets scattered. This phenomenon of scattering of light is termed as Raman Scattering and the cause of scattering is called the Raman Effect. The wavelength of these scattered rays is different from that of the incident rays of light.
19) The eighth edition Lamitye 2018, bilateral military exercise between Indian Army and Seychelles People’s Defence Force was held at Mahe Island in Seychelles archipelago. The Seychelles archipelago falls on one of most significant and busiest sea transport routes of the world in Indian Ocean. Key Facts: The Lamitye exercise is conducted biennially between Indian and Seychelles with aim of enhancing military cooperation and interoperability between the two countries. “Lamitye” means friendship in Creole (local dialect of Seychelles). The aim Lamitye 2018 was fighting insurgency, terrorism and piracy threats. Indian Army was represented by team comprising of 45 personnel, including four officers, five Junior Commissioned Officers (JCO) and 36 Other Ranks.
20) Reserve Bank of India (RBI) has raised exposure limit under exchange traded currency derivatives (ETCD) trading for residents and foreign portfolio investors (FPIs) to $100 million across all currency pairs involving Indian rupee. This decision aims to help entities engaged in forex transactions to maintain their currency risks in better manner. Earlier, the limit was of $15 million for US Dollar-Rupee and $5 million for other currency pairs of Indian rupee with Japanese Yen, Euro and British Pound. Exchange Traded Currency Derivatives (ETCD). ETCD is financial instrument that trades on regulated exchange, and whose value is based on value of another asset. These derivatives are traded in a regulated fashion. They can be used to hedge exposure or speculate on wide range of financial assets like commodities, currencies, equities and even interest rates. What are new norms? The raised exposure limit permits persons resident in India and FPIs to take positions (long or short), without having to establish existence of underlying exposure, up to single limit of $100 million equivalent across all currency pairs involving Indian rupees, put together, and combined across all exchanges. The onus of complying with provisions of this decision rests with participant in ETCD market. In the case of any contravention participant will be liable to any action that may be warranted as per provisions of Foreign Exchange Management Act (FEMA), 1999 and regulations, directions, etc. issued there under. These limits shall also be monitored by exchanges, and breaches, if any, may be reported to RBI. Background: RBI has taken series of liberalisation measure in the ETCD market. Earlier it had relaxed documentation requirement for such trades i.e. allowed signed undertaking instead of the statutory auditor’s certificate. It also had allowed importers to take appropriate hedging positions up to 100% of eligible limit to bring at par both exporters and importers the RBI. Prior to it, importers were permitted to hedge their contracted exposures in ETCD market only up to 50% of their eligible limit.
21) The Financial Intelligence Unit (FIU) under Finance Ministry has categorised around 9,491 non-banking financial companies (NBFC) as high risk prone financial institutions as they have not complied with stipulated provision of Prevention of Money Laundering Act (PMLA). There are about 12,000 NBFCs in country at present and high risk financial NBFCs account for about 80% of total NBFCs in the country. This list containing names of NBFCs has been updated till January 2018. What does it means? The publication of names of NBFCs in list is primarily to make aware public that they are not law compliant and that they should refrain from indulging into transactions with them. These NBFCs have been urged to comply with this “basic obligation” under PMLA and its rules for the past one and a half years, but to no avail. Once these NBFCs comply with the rules, their names will be taken off the list. Background: Under PMLA, the NBFCs, which include cooperative banks, are required to furnish details about their financial operations and transactions to the FIU in a prescribed format. The FIU had observed activities of these institutions and processed the data of these companies after demonetisation of high value currency notes of Rs 1,000 and Rs 500 in November 2016. It also had found that these NBFCs also did not comply with stipulated condition of appointing principal officer and designated director who are responsible for checking and reporting suspicious transactions and cash transactions of Rs 10 lakh and above. FIU is mandated to check crimes in Indian economy and alert enforcement agencies against such. Non-banking financial companies (NBFCs): NBFC is company registered under Companies Act. It is engaged in business of loans and advances, acquisition of shares, bonds, stocks, debentures and securities issued by government or local authority or other marketable securities. NBFCs can make investments and lend and hence, their activities are akin to that of banks. However, they cannot accept demand deposits and do not form part of payment and settlement system i.e. they cannot issue cheques drawn on itself.
22) India was ranked 47th out of 86 countries in Inclusive Internet Index (III) 2018 report. India has slipped by 11 positions compared to 36th rank in 2017 III report due to low internet usage and poor quality. The report was commissioned by Facebook in 2017 and is conducted by The Economist Intelligence Unit (EIU). It provides rigorous benchmark of national-level Internet inclusion across four categories: Availability, Affordability, Relevance and Readiness. 2018 edition of report has covered 91% of the world’s population and expanded data set of 86 countries, up from 75 countries in 2017. Key Highlights of 2018 III report: India was ranked 62nd in Availability, 39th in Affordability, 37th in Relevance and 23rd in Readiness categories. Singapore, Canada, Poland and Malaysia have topped in respective categories. Internet connectivity: It has grown by 8.3% over past year and has shown 65.1% increase in low-income countries with largest year-on-year increases in Rwanda (490.8%), Nepal (138.1%) and Tanzania (87.8%). Mobile Internet gap: It is shrinking between rich and poor. In low-income countries, average cost of 500 MB mobile broadband connection fell from 12.1% of monthly income in 2017 to 10.0% in 2018, a 17.3% cost reduction. Gender gap in Internet inclusion: It is still far too pervasive. In 69 out of 86 countries, more men have access to internet than women. On average across indexed countries, men are 33.5% more likely to have Internet access than women. This gap is substantially more pronounced in lower-income countries. Empowerment: Use of internet is empowering, especially to citizens in Asia, Middle East and Africa. Privacy and security concerns have limited the use of the Internet especially in Europe.
23) The Ministry of Shipping has laid foundation stone for setting up of a National Technology Centre for Ports, Waterways and Coasts (NTCPWC) at IIT Chennai to give technological support to ports and maritime sector. It will be set up under Shipping Ministry’s flagship Sagarmala programme. Key Facts: NTCPWC’s mandate is to act as technology arm of Ministry of Shipping for providing engineering and technological inputs and support for Ports, Inland Waterways Authority of India (IWAI) and other institutions. Functions: Conduct applied research in areas of 2D and 3D Modelling of ocean, coastal and estuarine flows, sediment transport and morphodynamics, dredging and siltation, navigation and maneuvering, port and coastal engineering structures and breakwaters, experimental and CFD modelling of flow and hull interaction, hydrodynamics of multiple hulls, autonomous platforms and vehicles and ocean renewable energy. Provide indigenous software and technology, make technical guidelines and standards and address port and maritime issues with models and simulations. Generate new technology and innovations and work towards their successful commercialization. Funding: It is being set up at cost of Rs 70.53 crore to be shared by Ministry of Shipping, IWAI and Major Ports. It will become self-sustainable in three years through industry consultancy projects for Indian and global port and maritime sector. Sagarmala programme: It aims to promote port-led development along India’s 7500 km long coastline by developing string of ports around coast. It will develop access to new development regions with intermodal solutions and enhanced connectivity with main economic centres and beyond. It envisages transforming existing ports into modern world class ports as well as developing new ones. It also aims to develop efficient evacuation systems through road, rail, inland and coastal waterways. Its three key components are Port Modernization, Efficient Evacuation Systems and Coastal Economic Development.
24) The Union Government is going to roll out Galvanizing Organic Bio-Agro Resources Dhan (GOBAR-DHAN) scheme. It was first announced by Finance Minister Arun Jaitley during his 2018-19 budget speech. The scheme focuses on managing and converting cattle dung and solid waste in farms to useful compost, biogas and bio-CNG. It will also help in keeping the village clean while increasing income of farmers and cattle herders. Significance of Scheme: The scheme will be hugely beneficial for country as India is home to highest cattle population in world (around 300 million in number) which produces around 3 million tonnes of dung. It will encourage farmers to consider dung and other waste not just as waste but as source of income. The scheme will provide many benefits to rural people by keeping villages clean and sanitized, improving livestock health and increasing farm yields. Under it, biogas generation will help to increase self-reliance in energy utilized for cooking and lighting. The scheme will augment income of farmers and cattle herders. It will create new opportunities for jobs linked to waste collection, transportation, biogas sales etc. It will also provide stable fuel supply in market for oil companies and accessible credit in market through government schemes and banks for entrepreneurs. Under it, villagers will be mobilized to create self-help groups (SHGs) and creative societies that will help in clean energy and green jobs initiative.
25) The 21st National Conference on e-Governance was held in Hyderabad, capital city of Telangana. This year, theme of the conference was ‘Technology for accelerating Development’. It was organised by Department of Administrative Reforms and Public Grievances (DARPG), along with Ministry of Electronics & Information Technology (MeITY) in association with Telangana. Key Facts: The Conference served as forum in which Secretaries, Administrative Reforms and Secretaries of Information Technology of State Governments, IT Managers of Central Governments, Software Solution providers, industry, etc. participated and interacted, exchanged opinions, views, discuss issues, problems and also analyze various solution frameworks. The Conference also showcased best practices, innovative technologies and ICT solutions. The National e-Governance Awards recognising and promoting excellence in implementation of e-Governance initiatives by various government departments and also initiatives of PSUs and Non- Government Institutions were given. The inaugural session of conference was followed by 3 Plenary Sessions based on themes Building User Experience, Universalization and Replication and Governing e-Governance. Besides, plenary sessions based on e-Governance Good and Best Practices, Emerging Technologies were also held. The theme of wrap up session was Synergising Role of National and State Government. Background: E-Governance is one of the subjects allocated to DARPG, Ministry of Personnel, Public Grievances and Pensions under II Schedule to the Allocation of Business Rules, 1961. DARPG has been entrusted role to promote e-Governance activities in consonance with the overall national objectivities and priorities. Whereas, DeitY’s, under Ministry of Electronics & Information Technology (MeITY) mandate is to encourage e-Governance to empower citizens, promote inclusive and sustainable growth of Electronics, IT & ITeS industries.
26) Ministry of Railways has launched SRIJAN (Station Rejuvenation through Joint ActioN), an idea competition for development of 635 railway stations. It was launched on MyGov portal by Indian Railway Stations Development Corporation Limited (IRSDC). Key Facts: IRSDC has taken up massive redevelopment of around 600 major Railway stations across the country. In this mega exercise, it will take assistance and involve all stakeholders i.e. railway passengers, urban planners, architects, engineers. For this, it has extended pen invitation for developing concept and master plans for redevelopment of stations firms & professionals interested for Station Development. The winners in the SRIJAN competition will get certificates and worthy ideas will be incorporated in the designs. MyGov Portal: It is a citizen engagement platform launched by Central Government in 2014 to promote active participation of citizens in country’s governance and development. Its objective is to create common platform for Indian citizens to crowdsource governance ideas from citizens. It allows users (citizens) to discuss and contribute on various government projects and plans. It is hosted and managed by the National Informatics Centre (NIC).
27) Council of Scientific & Industrial Research (CSIR) has entered into MoU with Indian Ocean Rim Association’s (IORA’s) Regional Centre for Science and Technology Transfer (RCSTT) for designating Central Institute of Medicinal and Aromatic Plants, Lucknow (CSIR-CIMAP) as Coordinating Centre on Medicinal Plants. Key Facts: The IORA Centre at CSIR-CIMAP will establish database on important medicinal plants, their value added products, related experts and industries of IORA member states. It will also organize meetings and training programmes to promote trade, commerce and scientific exchanges to complement strength and limitation of member states. The IORA is association of 21 countries and 7 dialogue partners which have identified six areas of cooperation including medicinal plants. Significance: The Coordination Centre will promote cooperation in area of traditional knowledge related to medicinal plants for welfare of people of IORA member states. It will also provide opportunity for two important member states of IORA (India and Iran) to enhance cooperation between them. IORA Regional Centre for Science and Technology Transfer (IORA RCSTT): IORA RCSTT intergovernmental regional organization established in October 2008 pursuant to recommendation of Academic Group of IORA. It is headquartered in Tehran, Iran. It has the status of the subsidiary body of the IORA, functioning under authority of IORA secretariat and IORA Council of Ministers. Objectives: Develope centre of excellence to facilitate transfer of technology at regional level with open regionalism. Assist Member States and dialogue partners of IORA to institutionalize joint efforts aimed at commercializing of technology with strategic value for region. Provide national focal points with platform to supply technical support and coordinate direction for projects of RCSTT in form of regional clustering and networking of key stakeholders at the international and domestic levels. Serve as a bridge to link the region to relevant international centers of excellence. Facilitate joint technology development, dissemination and commercialization among Member states.
28) The Union Ministry of Health and Family Welfare launched ‘Viral Load testing’ for all People Living with HIV/AIDS (PLHIV). The viral load test measures amount of HIV in blood number of copies of HIV RNA in millilitre of blood. Significance of Viral Load test: Viral Load testing initiative for PLHIV will provide free of cost viral load testing for 12 lakh PLHIV on treatment in country at least once year. It will help to monitor effectiveness of treatment of patients taking lifelong Antiretroviral Therapy (ART). It will help to optimize utilization of first line regimens, thus preventing drug resistance and ensure longevity of PLHIV. It will empower medical officers to detect failure on first line treatment and therefore save PLHIV from developing resistance to drugs. It will also help in strengthening ‘Mission Sampark’ in tracking LFU (Loss to Follow Up) PLHIV and achieve India’s commitment to global 90-90-90 target by 2020. Background: India has third largest population of PLHIV after South Africa and Nigeria, according to UNAIDS. India had 2.1 million people living with HIV at end of 2016 and 36.7 million globally, according to the report. According to UNAIDS report, in India only 49% of patients were on ART in 2016.
29) The two day international conference on Sustainable Biofuels was held in New Delhi. It was jointly being organized by Department of Biotechnology and Biofuture platform. It aimed to provide common platform to Government policy makers, industry, investors and research community to exchange experiences and challenges related to development and scaling of advance biofuels. It also focused on concerns of private sectors to speed up large scale production of sustainable biofuels. Key Facts: The conference also aimed to provide clear understanding of development in bio-economy made by participating countries, increase awareness of policy makers about challenges faced by industry-investor for commercial scale up of advanced biofuels. It also provided common platform to experts and delegates from 19 countries including representatives from mission innovation member countries in Sustainable Biofuels sector to take stock of current knowledge, share information and best practices, and build consensus on the actions most needed to move forward. Mission Innovation: Department of Biotechnology (DBT) under Ministry of Science & Technology is nodal agency coordinating and steering activities of Mission Innovation (MI) in India. Mission Innovation India unit was set-up in 2017 by DBT at ICGEB, New Delhi. DBT has lead in ushering R&D in advanced biofuels and has set up four large Bioenergy Research Centres. DBT also has established Sustainable Biofuel Innovation Challenge (SBIC) under MI. It aims to accelerate research, development and deployment of low cost, high GHG impacting advanced biofuels. It will build on existing knowledge of individual participating countries and international institutes like IEA, IRENA and in collaboration of Biofuture Platform coordinated by Brazil as program Secretariat. The aim of this cooperation is to avoid duplication of efforts and define clear areas of collaboration for speeding up of innovations in this area.
30) China was elected as vice chair of Financial Action Task Force (FATF), a global body mandated to combat terror financing and money laundering. In its plenary meeting in Paris, FATF had placed Pakistan under “grey list” subject to direct monitoring and intense scrutiny by International Cooperation Review Group till June 2018 for compliance of Anti-Money Laundering and Combating Finance of Terrorism regulations. Pakistan was on the same list from 2012 to 2015. Financial Action Task Force (FATF): It is an inter‐governmental policy making body that aims to establish international standards for combating money laundering and terrorist financing. It was established in 1989 during the G7 Summit in Paris (France) to combat the growing problem of money laundering. It comprises over 39 member countries including India. FATF Secretariat is housed at the headquarters of the OECD in Paris. Initially, FATF was only dealing with developing policies to combat money laundering. But in 2001 its purpose was expanded to act against terrorism financing. Mandate: FATF set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to integrity of international financial system. Functions: Set international standards to combat money laundering and terrorist financing. Assess and monitor compliance with the FATF standards. Conduct studies of money laundering and terrorist financing methods, trends and techniques. Respond to new and emerging threats, such as proliferation financing used for promoting proliferation of nuclear, chemical and biological weapons.
31) The Indian Institutes of Technology (IITs) will get largest chunk of loans on offer under Revitalising Infrastructure and Systems in Education (RISE), new funding model scheme for all centrally-run institutes. This shifts funding mechanism to CFIs in higher education from grant assistance to loans to assure more funds, greater accountability and timely completion of projects. Earlier, CFIs, on an average used to get fixed Budget grants of Rs 10,000 crore every year. RISE scheme: RISE scheme was announced in Union Budget 2017-18. It aims to lend low-cost funds to government higher educational institutions. Under it, all centrally-funded institutes (CFIs), including central universities, IITs, IIMs, NITs and IISERs can borrow from a Rs 1,00,000 crore corpus over next 4 years to expand and build new infrastructure. It will be financed via restructured Higher Education Financing Agency (HEFA), a non-banking financial company. Distribution of loans under RISE Scheme is as follows. Key Facts: With introduction of RISE, all financing for infrastructure development at CFIs in higher education will be done through HEFA, which was set up by government as a Section 8 company (a company with charitable objectives) in 2017 to mobilise funds from the market and offer 10-year loans to centrally-run institutes. Equity Share: In order to mobilise funds Rs. 1 lakh crore corpus under RISE, HEFA will need equity of Rs 10,000 crore, of which Rs 8,500 crore will be provided government and remaining by Canara Bank, which partnered with government to set up HEFA, and other corporations. Target: All infrastructure and research projects sanctioned by HEFA are to be completed by December 2022. Fund Raising: HEFA will release money directly to vendors or contractors on certification by executing agency and educational institute. Loans taken from HEFA, under the RISE programme, will be paid back over 10 years. There will be different modes of loan repayment for different institutes, based on their internal revenue.
32) The Defence Research and Development Organisation (DRDO) has carried out first successful test-flight of unmanned aerial vehicle (UAV) Rustom-2 in user configuration with higher power engine. The flight was conducted at its Aeronautical Test Range at Chitradurga in Karnataka and all its parameters were normal. Rustom-2: Rustom-2 belongs to family of UAVs under development, including Rustom-1 and Rustom-H. It is medium-altitude long-endurance drone (MALE). It can fly up to an altitude of 22,000 feet and has endurance of over 20 hours. It is capable of carrying payloads for electronic and signal intelligence missions. Rustom-2 has been modelled on Rustom-H UCAV with light airframe. It is 9.5 metres long and stands 2.4 metres tall with wingspan of 20.6 metres. It is propelled by two 3-bladed NPO saturn engines. Its tail section comes with T-type vertical stabiliser and high-mounted horizontal tailplane. It can fly at around 280 km/h and carry variety of payloads like Long Range Electro Optic (LREO), Medium Range Electro Optic (MREO), Electronic Intelligence (ELINT), Synthetic Aperture Radar (SAR), Communication Intelligence (COMINT) and Situational Awareness Payloads (SAP) for performing missions even during the night. Rustom 2 can fly missions on manual as well as autonomous modes. Its data link developed by Defence Electronics Application Laboratory (DEAL) transmits the ISR data to the armed forces’ ground control station in realtime allowing prompt action. Rustom 2’s onboard way-point navigation system allows drone to conduct missions autonomously. It will be used by all three services of Indian armed forces, primarily for intelligence, surveillance and reconnaissance (ISR) operations. Several critical systems and components of Rustom 2, like its airframe, avionics sub-systems, flight control, landing gear etc. have been made indigenously and some in collaboration with private manufacturers.
33) The Indian Navy is going to host 16 countries for multi-national 2018 MILAN exercise at Port Blair in Andaman and Nicobar (A&N) islands from March 6 to 13, 2018. The eight-day mega naval exercise will be held under aegis of Andaman and Nicobar Command with theme of ‘Friendship Across the Seas’. Key Facts: Milan 2018 will witness diverse mix of professional exercises and seminars, social events and sporting fixtures. The interactions at event encompass sharing of views and ideas on maritime good-order and enhancing regional cooperation for combating unlawful activities at sea. 16 countries participating in this edition of exercise include Australia, Malaysia, Maldives, Mauritius, Myanmar, New Zealand, Oman, Vietnam, Thailand, Tanzania, Sri Lanka, Singapore, Bangladesh, Indonesia, Kenya and Cambodia. The social interactions planned in Milan 2018 include display by bands of the Indian Navy and Indian Army, ship visits and colorful cultural evenings. Milan 2018 aims to showcase the rich heritage and pristine natural beauty of A&N Islands to foreign visitors. MILAN Exercise: MILAN is congregation of littoral navies conducted biennially by Indian Navy under aegis of the Andaman and Nicobar Command. It was first held in 1995. In the first edition, only four littoral navies had participated in it. Now it has now grown into prestigious international event and encompasses participation by maritime forces from not just Bay of Bengal and South East Asia but larger Indian Ocean Region (lOR). It provides effective forum to participating navies to come together to discuss common concerns in the Indian Ocean Region and forge deeper cooperation among friendly navies.
34) Prime Minister Narendra Modi launched subsidised Amma two-wheeler Scheme meant for working women on the occasion of former Chief Minister Jayalalithaa’s 70th birth anniversary. He also launched 70-lakh tree sapling planting drive. Amma two-wheeler Scheme: Under the scheme, every beneficiary will be given 50% of cost of a two-wheeler or grant of Rs. 25,000. It will cover one lakh working women every year. The subsidised scooter scheme for working women is an electoral promise of former Tamil Nadu Chief Minister Jayalalithaa. During the 2016 Assembly election, she had promised 50% subsidy for women to purchase two-wheelers.
35) Unique Identification Authority of India (UIDAI), the nodal authority for issuing Aadhaar cards has rollout ‘Bal Aadhaar’, meant for kids under 5 years of age. Bal Aadhaar literally means Kid’s Aadhaar. It will have blue colour to differentiate it with regular Aadhaar. It will be linked with one of parent’s Aadhaar card. No biometric details will be captured. Need: Biometrics are not developed for children before 5 years of age. Hence, during Aadhar enrolment child’s Aadhaar data does not include biometric info like fingerprints and Iris scan. Key Facts: Bal Aadhaar will have no biometric identification, like Iris scan or fingerprint scans, as their parents will be accompany their ward when such identification is required. However, once the kid crosses 5 years of age, then regular Aadhaar will be issued, which will have the biometric details. Bal Aadhaar will not abe necessity per se, but it may be required when kid grows up, and applies for Government scholarships or grants for higher education. Aadhaar rules mandate compulsory conversion of all Bal Aadhaar cards into proper Aadhaar card with biometric details once the kid turns 5 years. Aadhaar: Aadhaar is 12-digit number which acts as proof of identity and address anywhere in the country. It is considered as world’s largest national identification project. Its collects biometric and demographic data of residents and stores them in a centralised database. It is issued by the Unique Identification Authority of India (UIDAI).
36) According to new study based on data from India’s Chandrayaan-1 mission and NASA’s Lunar Reconnaissance Orbiter (LRO), Moon’s water may be widely distributed across its surface and not confined to particular region or type of terrain. The results contradict some earlier studies, which had suggested that more water was detected at Moon’s polar latitudes and that strength of water signal waxes and wanes according to the lunar day (29.5 Earth days). Study: In this study, researchers had analysed data from Moon Mineralogy Mapper spectrometer onboard Chandrayaan-1 spacecraft. They came up with new way for incorporating important temperature information and created detailed model from measurements made by Diviner instrument on NASA’s Lunar Reconnaissance Orbiter (LRO). New findings: The new finding suggests that water may be present primarily as OH, a more reactive form of normal water (H2O). OH also called hydroxyl does not stay in its form for long, and attaches itself chemically. This OH molecule needs to be extracted from minerals in order to be used as water. The results indicate that OH or H2O on moon is created by solar wind hitting lunar surface. It is also believed that OH or H2O may have come from Moon itself, after it is slowly released from deep inside minerals locked since Moon was formed. Significance: The new findings can help researchers to understand origin of Moon’s water and how easy it would be to use as resource. If there is enough water on Moon and is reasonably convenient to access, then future explorers might be able to use it as drinking water or convert it into hydrogen and oxygen for rocket fuel or oxygen to breathe.
37) The Assam government will be observing September 22 as Rhino Day to generate public awareness on protection of one-horned rhinoceros (pachyderm) — the pride of the state. It was announced at the 10th meeting of State Board for Wildlife chaired by Chief Minister Sarbananda Sonowal. The day will be dedicated to approximately 2,500 rhino population in state. State government is also launch State Rhino Project in line with National Rhino Project for protecting them from threats of poaching. One-horned rhinoceros: One-horned rhinoceros is the largest of the Asian Rhinos. Its preferred habitat is alluvial flood plains and areas containing tall grasslands along the foothills of the Himalayas. Formerly, they were extensively distributed in the Gangetic plains, but now they are restricted to small habitats in Indo-Nepal terai and North Bengal, and Assam. They are found in Kaziranga, Orang, Pobitara, Jaldapara (in Assam), Dudhwa (UP) National Park. Kaziranga National Park hosts two-thirds of the world’s Great One-horned rhinoceros (68% of worldwide population). It has been listed as Vulnerable on the IUCN Red List of Threatened Species.
38) Indian Railways in collaboration with General Electric (GE) has inducted two Digitally Enabled Locomotives based on state of art insulated-gate bipolar transistor (IGBT) technology. The two HHP prototypes locomotives were wholly designed in India under Make in India program and manufactured under Public Private partnership (PPP) through MoU with GE. IGBT Technology: It has three-terminal power semiconductor device primarily used as electronic switch. It gives combined advantages of high efficiency and fast switching. It offers greater power gain than standard bipolar type transistor combined with the higher voltage operation and lower input losses. Background: GE is providing locomotive technology to Indian Railway and by 2025, through joint venture company (Indian Railways has 26% stake) it will manufacture 1000 fuel-efficient locomotives (100 per year) for freight traffic hauling. 700 locomotives will be 4500HP WDG4G and rest 300 locomotives will be of 6000HP. Initially 40 fuel efficient diesel locomotives will be manufactured in GE facility at Erie, Pennsylvania, US and rest 960 diesel locomotives will be manufactured in Marhoura, Saran District, Bihar. It will start loco manufacturing from October 2018. Locos will be maintained in Roza, UP and Gandhidham, Gujarat. Features GE Locomotive: They are four stroke engine, 12 cylinders, 06 traction motors, Safety features for self-load, AC Dual Cab locomotive, toilet facility, Upgraded Computer Controlled Braking (CCB system), Fuel Efficient locomotive, Electronic Fuel Injection system, IGBT based traction technology, compliant with India’s UIC emission norm.
39) Turkmenistan, Afghanistan, Pakistan and India have ceremonially broke ground on Afghanistan section of ambitious, multi-billion dollar TAPI gas pipeline. The ceremony was attended by Afghanistan President Ashraf Ghani and his Turkmenistan counterpart Gurbanguly Berdymukhamedov, Pakistani Prime Minister Shahid Khaqan Abbasi and India’s Minister of state for external affairs Shri M. J. Akbar. TAPI gas pipeline: TAPI gas pipeline project is proposed trans-country natural gas pipeline from Caspian Sea, Turkmenistan to India through Afghanistan and Pakistan. The abbreviation TAPI itself indicate its member countries- Turkmenistan, Afghanistan, Pakistan and India. The pipe line connects central Asia with south Asia covering 1,840 km. The pipeline begins from Turkmenistan’s Galkynysh field (formally known as South Yoiotan Osman) that has gas reserves are 16 trillion cubic feet. The estimated construction cost of the project is 10 billion US dollars and is being funded by Asian Development Bank (ADB). The pipeline has capacity to carry 90 million standard cubic metres a day (mmscmd). Both India and Pakistan will get supply of about 38 mmscmd whereas Afghanistan will get 14 mmscmd supply of natural gas. The pipeline will begin pumping natural gas from Turkmenistan’s giant Galkynysh gas field by the beginning of 2020 and supply life is expected to last for period of 30 years. The pipeline runs through Galkynysh field (Turkmenistan), Afghanistan’s Herat and Kandahar province, Pakistan’s Multan via Quetta and ends at Fazilka in Punjab (India). For its security, an inter-government joint security task force (JSTF) has been recommended to serve as nucleus of safety provided by security consultants. Significance: The TAPI Project is considered as an important initiative of these four countries to connect energy rich Central Asia with energy starved South Asia. It marks a new dawn of economic engagement through regional connectivity by economically integrating region stretching from Bay of Bengal to Caspian Sea. From India’s perspective, TAPI Project will provide an alternative supply source of gas with dependable reserves leading to enhanced energy security. It will further diversify the fuel basket to the benefit of Indian economy as it would be used mainly in power, fertilizer and city gas sectors.
40) The Union Finance Ministry (Department of Revenue) has imposed anti-dumping dutyon import of ceramic tableware and kitchenware from China in bid to protect domestic producers. Both items will attract anti-dumping duty of $1.04 per kg, making the imports expensive. The protectionist measure against cheap Chinese import was based recommendation of Directorate General of Anti-Dumping and Allied Duties (DGAD), Ministry of Commerce and Industry. Background: All India Pottery Manufacturers’ Association (AIPMA) and Indian Ceramic Society had approached DGAD for imposition of levy on cheap imports of above items from China. They had alleged that these goods were being dumped into India at cheap prices and consequently causing injury to domestic industry. Anti-dumping Duty: It is an import duty imposed by government on imported products which have prices less than their normal values or domestic price. Thus, it is protectionist and counter import measure used by country under multilateral World Trade Organisation (WTO) regime to protect its domestic producers and market from below-cost/cheap imports. It varies from product to product and from country to country. In India, anti-dumping duty to be levied is recommended by Union Ministry of Commerce (i.e. by DGAD), while the Union Finance Ministry imposes it. So far, India has initiated maximum anti-dumping cases against “below-cost” imports from China.
41) Scientists from Botanical Survey of India (BSI) have identified new plant species named Drypetes kalamii from Buxa and Jaldapara National Parks in West Bengal. It has been named after former President of India, Dr APJ Kalam. The new species is close relative of medicinal plant known in Sanskrit as Putrajivah. Drypetes kalamii: Drypetes kalamii is small shrub found to be shorter version of its close relative Drypetes ellisii. It is found in wet, shaded areas of subtropical, moist semi-evergreen forests, at heights of 50-100 metres. It is just 1 metre tall and is unisexual in nature, which means they have separate male and female plants. It has pale yellow flowers in clusters and bright orange to red fruits. Scientists have provisionally assessed plant to be “Critically Endangered” as per IUCN (International Union for Conservation of Nature) rules. It faces threat from forest fires and grazing.
42) Heavy Water Board (HWB), a constituent industrial unit of Department of Atomic Energy (DAE) signed an collaborative agreement with Clearsynth, Mumbai for sale of 20 tonnes of Heavy Water in year. It will be sold for development of deuterium labeled compounds, NMR Solvents, d-labeled Active Pharma Ingredients (APIs). Significance: This deal marks beginning of important era in t annals of Indian Nuclear industry leading to societal benefits for masses. During previous years, Indian industries had imported deuterated compounds and Heavy Water to tune of 9 Million USD. This collaborative agreement will initiate import substitution for deuterated compounds and Heavy Water. Heavy Water Board (HWB): HWB is constituent unit under DAE in the Central Government. It is primarily responsible for production of Heavy Water (D2O) which is used as ‘moderator’ and ‘Coolant’ in nuclear power as well as research reactors. It is also engaged with production of different types of nuclear grade solvents and extraction of rare materials. HWB currently operates 7 heavy water plants around the country. Heavy Water: It is also known as deuterium oxide (D2O). It is form of water that contains large amount of hydrogen isotope deuterium (heavy hydrogen). Deuterium differs from hydrogen which is usually found in water. Heavy water may be deuterium protium oxide (DHO) or deuterium oxide (D2O). The presence of deuterium increase mass of water and gives different chemical and physical property compared to normal water. Heavy water is used in certain types of nuclear reactors, where it acts as a neutron moderator to slow down neutrons. It also used in nuclear magnetic resonance, organic chemistry, fourier transform spectroscopy, neutron moderator, neutrino detector, tritium production and metabolic rate testing in physiology and biology.
43) The Reserve Bank of India (RBI) has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against NBFCs registered with RBI under section 45-IA of the RBI Act, 1934. The scheme will provide cost-free and expeditious complaint redressal mechanism relating to deficiency in services by non-banking financial companies covered under the scheme. Ombudsman Scheme for NBFCs: The offices of NBFC Ombudsmen will function at four metro centres —Mumbai, Chennai, Kolkata and New Delhi. They will handle complaints of customers in respective zones. To begin with, the scheme will cover all deposit-taking NBFCs. Under this scheme, any customer or person can file compliant with ombudsman on various grounds. Only written complaints or those in electronic format will be accepted. The complaint may be wrt non-payment or inordinate delay in payment of interest, non-repayment of deposits, lack of transparency in loan agreement, non-compliance with RBI directives on fair practices code for NBFCs, levying of charges without sufficient notice tocustomers and failure or delay in returning securities documents despite repayment of dues among others. RBI will appoint one or more of its officers in rank of not less than General Manager (GM) to be known as Ombudsman to carry out functions. The appointment will for period not exceeding three years at time. The schemes provide for Appellate mechanism under which complainant/NBFC will have option to appeal against decision of Ombudsman before Appellate Authority. It will obligation of NBFC concerned to implement settlement arrived with complainant or Award passed by Ombudsman when it becomes final and send report in this regard to RBI within 15 days of award becoming final. In case of non-implementation of settlement or Award, the complainant may represent to RBI and RBI may initiate such action under provisions of RBI Act, 1934 as it deems fit.
44) The Reserve Bank of India (RBI) has directed banks to link SWIFT (Society for World Interbank Financial Telecommunication System platform) with their core banking solutions (CBS) by April 30, 2018. This decision is part of RBI’s efforts to tighten internal controls in banks following Rs 11,400 crore fraud that was unearthed at Punjab National Bank (PNB). CBS is centralised software used to support bank’s most common transactions. Background: The mega PNB fraud surrounds around SWIFT technology which was misused by its branch officials to fraudulently issue LoUs (letters of undertaking), kind of Bank guarantees to diamond and jewellery importer Nirav Modi-linked companies without getting proper approvals and without making entries in CBS. The failure of SWIFT-CBS link led to Rs 11,400 crore fraud at PNB and enabled these transactions to go undetected for over seven years. Many banks are yet to establish the linkage. So there is urgent need for banks to revisit their surveillance system and plug the loopholes. SWIFT (Society for World Interbank Financial Telecommunication System) platform: SWIFT is global financial messaging service that enables financial institutions worldwide to send and receive information about financial transactions in secure, standardized and reliable environment. It is used to transmit messages relating to cross border financial transactions. It was founded in 1973 and is headquartered in La Hulpe, Belgium. It is a cooperative society under Belgian law owned by its member financial institutions with offices around the world. Globally over 11,000 financial institutions in more than 200 countries use services of SWIFT. SWIFT does not facilitate funds transfer, rather, it sends payment orders, that must be settled by correspondent accounts that institutions have with each other. On receiving this message through SWIFT, banks abroad, mostly branches of domestic banks abroad provide funds to the company.
45) India and Canada have signed six agreements in different fields including nuclear science, energy cooperation, sports, education, science and technology cooperation and information communication technology. These agreements were signed after delegation-level talks between Prime Minister Narendra Modi and his visiting Canadian counterpart Justin Trudeau in New Delhi. Agreements signed are: MoU on Cooperation in Sport. MoU for Cooperation in Higher Education. MoU for Cooperation on Intellectual Property Rights. Terms of Reference for the India-Canada Ministerial Energy Dialogue. MoU for cooperation in the Fields of Science, Technology and Innovation. Joint Declaration of Intent on Cooperation in the Field of Information Communications Technology and Electronics. India-Canada Relations: India-Canada share strategic partnership underpinned by shared values of democracy and pluralism. It has significantly expanded in recent years aided by heightened economic engagement, regular high level interactions and long-standing people-to-people ties. Canada is home to over 1.2 million Persons of Indian Origin (PIO) who comprise more than 3% of its population. The highly educated, affluent and industrious PIOs is one of largest immigrant groups in Canada. They are well integrated with mainstreamand also active politically. The two-way trade between both countries has increased from US $3.21 billion in 2010 to US $6.05 billion approximately in 2016. India accounts for only 1.95% of Canada’s global trade. India exports to Canada include gems, jewellary and precious stones, pharmaceutical products, readymade garments, textiles, organic chemicals, light engineering goods, iron & steel articles, etc. India’s import from Canada include pulses, newsprint, wood. pulp, asbestos, potash, iron scrap, copper, minerals and industrial chemicals, etc. The cumulative Indian FDI was US$ 2093.53 million as against Canadian FDI of US$ 901.1693 million in India. Indian companies have invested especially in the IT, software, steel and natural resources sectors etc.
46) Telecom Major Bharti Airtel and Chinese telecom equipment maker Huawei have successfully conducted India’s first 5G (fifth generation) network trial. It was conducted at Airtel’s network experience centre in Manesar, Gurugram (Haryana) and was able to achieve over 3 gigabit per second (Gbps) data speed. Key Facts: The setup for this 5G trial involved 5G RAN that operated on 3.5GHz network band, along with 5G Core and 50GE network slicing router. In duration of tests, a user throughput speed of 3Gbps was achieved, claimed to be highest for 3.5GHz band. The tests were conducted within a 100MHz bandwidth and resulted in a 1-millisecond end-to-end network latency. Significance: The test is small but significant step in its journey towards next generation 5G mobile networks, which could offer data speed up to 100 times faster than current 4G networks. It also demonstrates spectral efficiency and potential for diversified services such as Internet of Things (IoT) and augmented reality (AR)/virtual reality (VR), which can be delivered by 5G technology to serve a digitally connected world. Background: India is planning to roll out 5G services for consumers by 2020. To achieve this objective, Government in September 2017 had set up high-level forum that will evaluate and approve roadmaps and action plans to bring in the latest technology. 5G: 5G is wireless communication technology based on third-generation partnership project (3GPP). It is next generation mobile networks technology after 4G LTE networks. It is expected to offer enhanced mobile broadband (eMBB) through R15 repeaters that can cater to coverage requirements. In December 2017, 3GPP had completed first set of 5G New Radio standards. The 5G technology will offer far greater upload and download speed available at present. High data speed offered by 5G network will help cloud systems to stream software updates, music, and navigation data to driverless cars. Moreover, it holds the key to growth of artificial intelligence (AI) systems and enhance IoT. As per the OECD Committee on Digital Economic Policy, 5G technologies rollout will help in increasing GDP, creating employment and digitizing the economy.
47) India and Germany have inked MoU for “Implementation Agreement in Sustainable Urban Development and Smart Cities in India. The Agreement was signed between Ministry of Housing & Urban Affairs (MoHUA) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, India on behalf of Government of Germany. Key Facts: The objective of programme is to develop and apply concepts for sustainable urban development about provision of urban basic services and housing in selected cities and Smart Cities in India. It will also develop and apply concepts for provision of Urban basic services & housing in Smart Cities Technical cooperation to support approaches in integrated planning, affordable housing and basic services. The technical cooperation measure will support approaches for sustainable urban development in area of integrated planning, provision of affordable housing and basic services with particular focus on water, waste water and solid waste management and mobility. Sustainable Urban Development Programme – Smart Cities in India’ project: The project is supported by German Federal Ministry for Economic Cooperation and Development (BMZ) and jointly implemented by MoUHA and GIZ India. It seeks to support India to achieve set target of promoting sustainable urban development under national urban missions and programmes such as Smart Cities Mission, linking with Sustainable Development Goal (SDG) No. 11 ‘Make cities inclusive, safe, resilient and sustainable’. The project will continue for duration of three years (starting from 2018 till December 2020) with German contribution to up to 8 million Euros.
48) The National Human Rights Commission (NHRC) has retained its ‘A’ status of accreditation of Global Alliance of National Human Rights Institutions (GANHRI) for fourth consecutive term. NHRC was awarded ‘A’ status for first time in 1999 which it retained in 2006 and 2011 reviews. The Sub Committee on Accreditation (SCA) of GANHRIs had recommended that NHRC be reaccredited with “A” status. What it means? The accreditation is given to those human rights institutions, which after rigorous process of review every five years are found fully compliant with UN-mandated Paris Principles. ‘A’ status accreditation also grants participation in the work and decision-making of the GANHRI, as well as the work of the Human Rights Council and other UN mechanisms. GANHRI accreditation system: The GANHRI accreditation system has evolved and been strengthened over past years. It measures that GANHRI adopted to improve process including system by which NHRIs are reviewed on periodic basis of 5 years, appeal process for NHRIs to ensure greater transparency and due process, more rigorous review of each application, more focused recommendations and wider distribution and greater knowledge of SCA recommendations by NHRIs and other stakeholders, so that they can follow up in-country and contribute to the accreditation process. Paris Principles: The Paris Principles were adopted by United Nations General Assembly (UNGA) in 1993. It requires human right commissions to protect human rights, including by receiving, investigating and resolving complaints, mediating conflicts and monitoring activities. It also promotes human rights, through education, outreach, media, publications, training and capacity building, as well as advising and assisting government. According to Paris Principles, human right commissions should have autonomy from government, independence guaranteed by statute or constitution, pluralism, adequate resources and adequate powers of investigation. National Human Rights Commission (NHRC): NHRC is apex statutory watchdog of human rights in the country, i.e. the rights related to life, liberty, equality and dignity of the individual guaranteed by the Constitution or embodied in the international convents. It was established as per the statutory provisions of Protection of Human Rights Act, 1993. It is multimember body consisting of Chairman and four members. President appoints the Chairman and members of the NHRC on the recommendation of the high-powered committee headed by the Prime Minister.
49) The Union Government has inked $84 million loan agreement with Asian Development Bank (ADB) for improvement and expansion of water supply in Bhagalpur and Gaya towns in Bihar. The loan has 25-year term, including grace period of 5 years with annual interest rate determined in accordance with ADB’s lending facility based on London interbank offered rate (LIBOR) and commitment charge of 0.15% per year. Key Facts: This agreement is for tranche 2 loan, part of $200 million multi-tranche financing facility (MFF) for Bihar Urban Development Investment Program that was approved in 2012 by ADB. The program aims to provide sustainable urban infrastructure and services in four towns in Bihar –Gaya, Bhagalpur, Darbhanga and Muzaffarpur. The project 2 will improve access to better quality and sustainable water supply, for people of Bhagalpur and Gaya towns. It will help two towns to achieve national urban service goals or match many of national averages for urban service delivery performance in India. The investment program will assist urban local body (ULBs) in designing affordable tariffs for operation and maintenance (O&M) cost recovery. Significance of project: The project will promote better water management practices that will result in a citywide coverage with 24-hour uninterrupted supply of treated water of 135 litres per capita per day in both cities. The loan finances will support civil works subprojects and will benefit 1.1 million people in two project towns with increased coverage of treated water supply by 2021. It will also train 400 urban local body (ULB) staff in management and O&M of water supply systems and help ULBs improve technical and financial management of water supply operations.
50) Kunwar Bai, a 106-year-old woman from Chhattisgarh who was chosen as mascot for `Swachh Bharat Abhiyan’, passed away after a prolonged illness. She had shot to fame in 2016 when story of her selling goats to build toilet at home had got nationwide publicity. She was felicitated by Prime Minister Narendra Modi at public meeting at Kurrubhat village in Rajnandgaon district and later made a mascot for Swachh Bharat Abhiyan. Kunwar Bai: She was recognised by Prime Minister Narendra Modi for building toilet by selling off her 8-10 goats to build two toilets at her home. Apart from that, she started showing other villagers the toilets at her home while educating them about its importance. She had encouraged others from village to build toilets. Her efforts had help to make her village ‘open defecation free as very home in her village has toilets.
WBCS Current Affairs 24/02/2018 to 02/03/2018
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WBCS Current Affairs 24/02/2018 to 02/03/2018
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