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Prelim Bits 24-10-2017

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October 24, 2017

Public Credit Registry

  • RBI has constituted a High Level Task Force on Public Credit Registry (PCR) that can provide a roadmap for developing a powerful credit information system.
  • PCR is an extensive central database of bank loans (credit information) that is accessible to all stakeholders.
  • It captures credit data on all kinds of loans which will be helpful in improving assessment of credit risk by the banks, early detection of non-performing assets (NPAs), and to improve recovery of loans.
  • It certifies the details of collaterals, can enable the writing of contracts that prevent over-pledging of collateral by a borrower.
  • It will also help to prevent multiple financing against the same property.
  • Initially, PCR will cover banks’ customers which can then be expanded to cover other financial institutions (NBFCs).
  • It will be managed by a public authority like the central bank.
  • It would help in enhancing efficiency of the credit market, increase financial inclusion, and improve ease of doing business and help control delinquencies.

IBSA Trust Fund Agreement

  • The IBSA Dialogue Forum is an international tripartite grouping for promoting international cooperation among India, Brazil, and South Africa.
  • It was formalized through the adoption of the "Brasilia Declaration" in 2003.
  • It promotes the international poverty alleviation and social development with main focus being on equitable development.
  • The countries have recently signed the IBSA Trust Fund Agreement that seeks to fight poverty in developing countries.
  • Each country contributes USD 1 million annually to this fund which is managed by the UN Development Programme (UNDP).

United Nations Day

  • The United Nations is an international organization founded in 1945 after the World War II.
  • Its charter was signed in San Francisco on June 26, 1945 and came into existence on October 24, 1945 after 51 countries have signed the charter.
  • With the ratification of the founding document by the majority of its signatories, including the five permanent members of the Security Council, the United Nations officially came into being.
  • UN Day marks the anniversary of the entry into force in 1945 of the UN Charter.
  • Since 1948, 24th October has been celebrated as United Nations Day.
  • It is headquartered in New York.
  • It has 193 members and latest member joined was South Sudan.
  • The Official Languages are Arabic, English, French, Chinese, Spanish, and Russian.
  • The organs of UN are General Assembly, Security Council, Economic and Social Council, International court of Justice and Secretariat.

Pradhan Mantri Kaushal Kendra

  • India's first Pradhan Mantri Kaushal Kendra (PMKK) for Skilling in Smart Cities was recently launched.
  • It was established by National Skill Development Corporation (NSDC), in collaboration with New Delhi Municipal Council (NDMC).
  • It aims to provide skill training for unemployed youth through its short-term training (STT) module and contribute to the capacity building of municipal employees through Recognition of Prior Learning (RPL) program.
  • It signifies integration and convergence approach towards the Skill India Mission and the Smart City Mission.

Pradhan Mantri Kaushal VikasYojana

  • It is an outcome based skill certification scheme implemented by National Skill Development Corporation (NSDC), an executive arm of Ministry of Skill Development and Entrepreneurship.
  • The objective is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
  • Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).
  • Training and Assessment fees are completely paid by the Government.
  • The Various components are short term training, recognition of prior learning, special projects, kaushal and rozgarmela, placement guidelines and monitoring guidelines.

Comet Rings

  • NASA Scientists have spotted narrow dense rings of comets coming together to form massive planets.
  • It is found on the outskirts of at least 3 distant solar systems with at least the size of a few Earths.
  • Its mass is estimated based on the amount of light they reflect.
  • The bright outer rings composed of comet like bodies at 75 to 200 astronomical units from their parent stars which is about 2 to 7 times the distance of Pluto from our own Sun.
  • The composition of the material in these rings varies from ice - rich to ice- depleted but carbon rich.
  • The scientists are especially intrigued by the red dust ring surrounding the planet “HR 4796A”, which shows unusually tight form for an infant solar system.

Indian Energy Exchange

  • The first initial public offering (IPO) by a power exchange was recently launched by Indian Energy Exchange (IEX).
  • IEX is India’s premier power trading platform.
  • It provides an automated platform for physical delivery of electricity and enables efficient price discovery.
  • It offers participants the opportunity to trade in a variety of energy products.
  • The platform increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution.

 

Source: PIB, The Hindu, BusinessLine, Business Standard.

1 comments
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mahesh sandip datir 6 years

IS IBSA part of BRICS.CAN the policies of BRICS &IBSA same?

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