NEWS TODAY

VISIONIAS

25th MAY, 2021

Low demand can even lead to a recession with increases in unemployment.

These 5 states include Delhi and four neighbouring States of Rajasthan, Madhya Pradesh, Uttar Pradesh and Haryana.Missing child has been defined as a person below 18 years of age, whose whereabouts are not known to the parents, legal guardians and any other person who may be legally entrusted with the custody of the child, whatever may be the circumstances/causes of disappearance.

Possible factors: Trafficking, Abandonment (on the basis of gender, health/disability, children born out of wedlock), Theft of kids (for personal reasons), Natural calamities, Sacrifice/religious beliefs etc.

Challenges in rescue and rehabilitation of missing child

Steps taken

A child goes missing in India every eight minutes. More girls go missing than boys.

The figures are always under-reported either due to social stigma or due to non-cooperation from police officials.

The mechanism to trace missing children is weak and tracing these children’s families is never taken on priority.

Many of the rescued children do not remember their address or other details of their parents.

Khoya-Paya portal to upload the information of the missing child.Protected under the Juvenile Justice (Care and Protection of Children) Act, 2015.

Migration is the movement of people away from their usual place of residence, across either internal or international borders.

Due to Covid-19 induced lockdown, many migrants are forced to migrate from cities to rural area.

As of 2020, India has an estimated 600 million migrants.Reasons of migration such as urbanisation, marriage, skills and education, healthcare and housing etc. are included under the broader classification of Push and Pull factors of migration.

NTP systems offer greater flexibility for deep space missions. They can reduce travel times to Mars by up to 25% and, more importantly, limit a flight crew’s exposure to cosmic radiation.

MEITY FORMULATES POLICY PAPER ON CIRCULAR ECONOMY TO DEAL WITH E-WASTE

NDUW, developed by Ministry of Labour and Employment, will be a comprehensive data base of the Unorganised Workers including the Building and other Construction Workers and Migrant workers, seeded with Aadhaar.

Inflation targeting is a monetary policy system wherein the central bank of a country has a specific target inflation rate for the medium-term and publicises this rate.

Significance of inflation targeting: Reduced inflation volatility; Reduced inflationary impact of shocks; Increased anchoring of inflation expectations.Issues with inflation targeting

In India, Inflation targeting is done by the Monetary Policy Committee (MPC) who is mandated to keep the inflation rate at 2-6%.

Other Government Initiatives to help migrants: Garib Kalyan Rojgar Abhiyan, Pradhan Mantri SVANIDHI Scheme, Aatm Nirbhar Bharat, Pradhan Mantri Garib Kalyan Yojana, One Nation One Ration Card, financial assistance to Building and Other Construction workers etc.

Significance of NDUW

It will have details of name, occupation, address, occupation type, educational qualification, skill types & family details etc.

It will be utilized to deliver various social security and welfare schemes being implemented by the different Ministries/ Departments of the Central and State Governments.To address various challenges faced by the unorganized workers especially migrant workers and frame policies/schemes according to available data such as occupation, skill etc.It will help the workers to share details about their skills and get suitable workProviding a comprehensive database to Government for tackling any National Crises like COVID-19 in future.

This target was adopted in 2016 for 5 years on the recommendations of Urjit Patel Panel which was further extended for 5 years recently.

India exposes itself to the need for constant policy interventions if it targets an inflation rate below 6%. Low inflation usually signals demand for goods and services is lower than it should be.

Tends to slow economic growth and depress wages.Due to monetary policy focus on Inflation, other macro parameters (ratio of fiscal deficit to GDP; Current account deficit to GDP) lack consistency of targets.

SC ORDERS COMPLETION OF NATIONAL DATABASE FOR UNORGANISED WORKERS (NDUW) AT THE EARLIEST

INFLATION TARGETS BELOW 6% MAY COST GROWTH: RBI STUDY

The paper titled ‘Circular Economy in Electronics and Electrical Sector’ aims to encourage circular economy, or ensuring zero to minimal wastage in the use of electronics and electrical sector.

Circular economy (CE) has the potential for enhancing resource security, abatement of loss of precious and rare minerals, addressing pollution, enhancing livelihood opportunities, and mitigating environmental degradation.

Major recommendations

India is the third largest electronic waste generator in the world after China and the USA as per the Global E-waste Monitor 2020.

CE is an industrial system, which is an alternative to highly extractive and resource intensive linear economy principle of take-make-dispose.

Setting up material sampling labs across the regions to assess the material value in the end-of-life product.Mandatory use of certain percentage of critical materials sources from secondary materials.Resource efficiency/ circular economy labeling, eco-labelling on the products in the percentage use of recycled materials in the product to create consumer awareness in recycling aspects of products.Promotion of technology for extraction of maximum number of materials through technology development/transfer, innovative finance mechanisms and schemes.

IN 5 STATES 9,453 CHILDREN WENT MISSING BETWEEN JAN-JULY 2020: REPORT

STCCS mostly provide crop and other working capital loans primarily for a short period to farmers and rural artisans.

Long-term cooperative credit structure (LTCCS) institutions focus on providing typically medium to long-term loans for making investments in agriculture, rural industries, and lately housing.

RBI has come out with the guidelines after a few state governments approached it for amalgamation of DCCBs with StCBs as a two-tier Short-term Co-operative Credit Structure (STCCS).

Need of amalgamation:

RBI will consider proposals for amalgamation if the following conditions are fulfilled.

Under the Banking Regulation (Amendment) Act, 2020, amalgamations of the above banks have to be sanctioned by the RBI.

Rural cooperative credit institutions have two distinct structures:

To ensure robust rural credit system.

State Government makes a proposal for such amalgamation after fulfilling various conditions.Scheme of amalgamation is approved by the requisite majority of shareholders.Such proposal of the State Government has been examined and recommended by NABARD.

To allow the bank to function like any other commercial bank To enable the banks for better human resource management as well as tax management.

RBI ISSUES GUIDELINES FOR AMALGAMATION OF DISTRICT CENTRAL CO-OPERATIVE BANKS (DCCBS) WITH STATE CO-OP BANKS (STCBS)

VISIONIAS

VISIONIASALSO IN NEWS

Selection of CBI Chief

Beed district formula (80-110 Plan)

Zero Shadow Day

Yellow Fungus

Shahi Litchi

The other two members of the panel included the Leader of Opposition in Lok Sabha and Chief Justice of India. 

This organization comes under the Ministry of Personnel, Public Grievances and Pensions.

The initiative includes 12 EU member states and 5 Balkan states.

The state government has to bear the cost of any claims above 110% of the premium collected to insulate the insurer from losses. The premium surplus (gross premium minus claims) exceeding 20% of gross premium is refunded by insurer to the state government.

Other GI certification agricultural products from Bihar: Jardalu mango, Katarni rice and Magahi paan.

Recently, a high-powered committee chaired by the Prime Minister met to select the new director of the Central Bureau of Investigation (CBI). 

CBI investigates very severe cases from all over the country. 

China-CEEC (Central and Eastern European

Countries) 17+1 Group

Lithuania quits China’s 17+1 cooperation forum with central and eastern European states that includes other EU members. Now it is known as 16+1.

It aims to expand cooperation between Beijing and the CEE member countries, with investments and trade for the development of the CEE region.

Owing to the normal monsoon predicted for this year, States have written to the Centre seeking the ‘Beed district formula’ to run the Pradhan Mantri Fasal Bima Yojana.

Recently, Odisha’s Bhubaneswar witnessed Zero Shadow Day. It is a rare celestial phenomenon during which no shadow of an object or a being is observed.

Like black fungus and white fungus, yellow fungus too is a fungal infection, but it can be rather fatal and deadly as it begins internally unlike the others where symptoms are visible.A yellow fungus infection spreads via contaminated environments, or when a suspected patient inhales moulds (mycometes) which grow in the environment.Like black fungus, the treatment for yellow fungus is Amphoteracin-B injection.Symptoms of yellow fungus are loss of appetite, sunken eyes, slow healing of wounds, lethargy and weight loss.

The phenomenon occurs twice a year when the sun is at its highest point in the sky at all the regions between the Tropic of Cancer and the Tropic of Capricorn. 

Due to the sun being exactly overhead, the shadow of all beings or objects disappears, resulting in Zero Shadow Day.

Under the 80-110 plan, the insurer’s potential losses are restricted.

The platform is largely seen as an extension of China’s flagship Belt and Road initiative (BRI).

The 17+1 initiative is a China-led format founded in 2012 in Budapest.

The geographical indication (GI) products Shahi Litchi from Bihar was exported to United Kingdom.

India is the second largest producer of litchi in the world, after China. Bihar tops in terms of production of litchi.

It was established under the Delhi Special Police Establishment Act, 1946.

Errata: In News Today dated 22nd May, 2021, under Personalities in news, Brahmo Sabha date of foundation was incorrectly mentioned as 1928. The correct date is 1828.