The Marginal Cost of Funds-based Lending Rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend.
The MCLR was introduced in April 2016, replacing the existing base rate system.
Reserve Bank of India will link the base rate with the Marginal Cost of Funds based Lending Rates (MCLR).
RBI decided to shift from base rate to MCLR because the rates based on marginal cost of funds are more sensitive to changes in the policy rates.
Operation Cactus
In 1988 a group of Maldivians led by Abdullah Luthufi tried to overthrow then Maldivian Government.
The attempt was a failure due to the intervention of the Indian Armed Forces.
The operation was code named as Operation Cactus.
INS Godavari and Betwa were used by the Indian Navy in the operation
The Great India Blog Train
It is the Social Media Key Influencer campaign of Ministry of Tourism
It involves the Bloggers across the world and they are invited to travel to destinations in the country on the Luxury Trains operating in different States.
The objective of the campaign is to position luxury trains of India as a unique tourism product both in the domestic and overseas markets
Railway development Authority
Rail Development Authority will help the Indian Railways take decisions on pricing of services, consumer interests, generating revenue and competition.
Government has approved formation of a Rail Development Authority (RDA) comprising Chairman and three Members.
The objective underlying RDA is to get expert advice/make informed decision on
Pricing of services commensurate with costs.
Suggest measures for enhancement of Non-Fare Revenue.
Protection of consumer interests, by ensuring quality of service and cost optimization.
Promoting competition, efficiency and economy.
Other than the above-mentioned objectives the authority also deals with resource allocation, setting service benchmark etc.,
ENCORE
The Eastern Naval Command Operational Readiness Exercise (ENCORE), Theatre Level Readiness and Operational Exercise concluded on the Eastern Seaboard by the Indian Navy and Indian Air Force aircrafts.
The exercise was conducted in phases to test various facets of war-fighting capabilities of the combat units.
The exercise was conducted in real time covering a vast expanse of Indian Ocean Region (IOR)
Minmata Convention on mercury
The Union Cabinet approved the proposal for ratification of Minamata Convention on Mercury.
The Convention protects the most vulnerable from the harmful effects of mercury and also protects the developmental space of developing countries
The objective of the convention’s implementation to protect human health and environment from the anthropogenic emissions and releases of mercury and mercury compounds.
The Convention is named after the Japanese city Minamata, as the city went through a devastating incident of mercury poisoning.
