This Daily Current Affair Capsule is a brief collection of important news from national dailies and government releases on PIB useful for UPSC IAS, CDS, SSC CGL, NDA, etC) It covers national, international, economic, sports news.
National Important Current Affairs – 30 July 2017
■ Former Union Minister Ashwani Kumar has been conferred with the Japan’s imperial decoration ‘Order of the Rising Sun’ award for his contribution to fostering Japan-India ties.
■ India’s first unmanned tank developed by the Defence Research and Development Organisation (DRDO) has been developed by the Chennai. Muntra, the unmanned tank, has three variants – surveillance, mine detection and reconnaissance in areas with nuclear and bio-threats. It is likely to be used in Naxal-hit areas.
- Muntra-S has been developed for unmanned surveillance missions, whereas Muntra-M is built for detecting mines. Muntra-N, on the other hand, will be deployed in areas where nuclear radiation or bio weapon risk is high.
- The vehicle has been tested. It’s surveillance radar, which has an integrated camera can be used to spy on ground target 15 km away.
■ According to a report by the Comptroller and Auditor General of India (CAG), the Centre’s Indradhanush’ scheme to recapitalize public sector banks (PSBs) based on their performance was not implemented in a manner envisaged. The national auditor doubts that the public sector banks will be able to raise Rs 1.1 lakh crore from equity markets in the four years ending March 2019 under the government’s Indradhanush plan.
- According to the CAG repot tabled in Parliament on Friday, as per the scheme, a portion of the recapitalization was to be based on the banks performance.
- The parameters used to determine whether banks required capital changed from year to year and in some years the rationale for capitalizing banks was not even recorded.
- The report said that the scheme’s target of raising Rs 1.1 lakh crore from the markets by 2018-19 was not likely to be met.
- The report also pointed out that in some cases the rationale for distribution of government of India’s capital among different PSBs (Public Sector Banks) was not on record.
- The report also emphasized that some banks that did not qualify for additional capital as per the decided norms, were infused with capital, and in some cases, banks were infused with more capital than required.
- The government has launched a seven pronged plan called Indradhanush Mission to revamp functioning of public sector banks (PSBs).
■ The Comptroller and Auditor General (CAG) tabled a report in Parliament stating that the strategic missile system, a medium range supersonic surface to air missile system to counter aerial threats were “deficient in quality”.
- Note that: Over 70% of the under vehicle scanners (UVS) installed at Indian Air Force (IAF) bases were reported non-functional.
- The report comes amid increased threat perception to defense installations in the wake of terrorist attack at the Pathankot airbase in January 2016.
■ On the occasion of its foundation day, the Union Ministry of Earth Science has launched a mobile application titled ‘India Quake‘.
- ‘India Quake’ app has been developed by the National Centre for Seismology (NCS) for automatic dissemination of earthquake parameter (location, time and magnitude) after the occurrence of earthquakes.
- The ministry has also launched an integrated information dissemination system titled ‘Sagar Vani‘, to serve the coastal community with advisories and alerts towards their livelihood as well as their safety at sea.
- Sagar Vani is an integrated information dissemination system that will serve the coastal community, especially the fishermen community with the advisories and alerts towards their livelihood as well as their safety at Sea.
International Current Affairs Capsule – 30 July 2017
■ China has successfully produced natural gas from methane hydrate, also known as “flammable ice”, in an experimental project in the South China Sea. The government will now “actively develop” the natural gas hydrate over the 2016-2020 five-year plan period.
|Methane Hydrates exist under low temperature and high pressure. And it has been identified as a potential new gas source for China, with the South China Sea estimated to contain some of the world’s most promising deposits.||When brought to surface of Earth, one cubic meter of gas hydrate releases 164 cubic metres of gas.|
|The lattice of ice traps methane molecules in land deposits below arctic permafrost. Despite the low temperature, these hydrates are flammable.||Vast deposits exist basically underneath all oceans around the the globe, especially on the edge of continental shelves. Countries are scrambling for a way to make the extraction safe and profitable.
United States and Japan are working on extraction and mining but it is extremely difficult.
■ Sri Lanka has signed a US $1.1 billion deal to sell a 70% stake of the strategic Hambantota deep-sea port to China.
Economics Today’s Current Affair Capsule – 30 July 2017
■ The National Payments Corporation of India (NPCI), has received a final nod from the Reserve Bank of India to function as the Bharat Bill Payment Central Unit (BBPCU) and operate the Bharat Bill Payment System (BBPS). This approval has come a year after NPCI launched the BBPS pilot project to make payment of utility bills easier for the public.
|What is NPCI ?
National Payments Corporation of India (NPCI) is an organization set up by the RBI andIndian Banks’ Association (IBA) for all retail payments system in India. NPCI has ten promoter banks.
|What is BBPS?
The Bharat Bill Payment System (BBPS) is a one-stop payment platform for all bills, essentially an RBI conceptualised system driven by National Payments Corporation of India (NPCI).
Payments through BBPS may be made using cash, transfer cheques and electronic modes.It aims to provide a reliable, interoperable and accessible bill payment service to customers across the country.
■ According to an OECD-FAO report, India has tripled its milk production in the first quarter of 21st century and is expected to become world’s biggest milk-producing nation.
■ The Delhi Metro Railway Corporation (DMRC) has become the world’s first completely ‘green’ Metro system for adhering to green building norms for its residential colonies. The Delhi Metro has secured the platinum rating for adherence to green building norms for its 10 residential colonies from the Indian Green Building Council (IGBC).
“Current Affairs Questions for UPSC IAS Prelims”
Q1. Who has been honoured with the Lifetime Achievement (LTA) award for his contributions as a Lok Sabha member?
Q2.Odisha’s longest road bridge “Netaji Subhas Chandra Bose Setu” connecting Bhubaneswar and Cuttack has built over which tributary of the Mahanadi River?
Answer these questions in the comments below. We encourage you to discuss your thoughts on the news and issues mentioned in today’s current affairs post. The idea is to promote healthy discussions on interesting issues to make preparation fun. Have a good day!
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