VIRUS OUTBREAK SPREADS TO BEIJING, SHANGHAI
Why in news? An outbreak of a new coronavirus has spread to more Chinese cities, including the capital Beijing and Shanghai, authorities said on 20th January, and a fourth case has been reported beyond China’s borders China’s National Health Commission confirmed that the virus, which causes a type of pneumonia, can pass from person-to-person, Spreading […]
IMF BRINGS DOWN INDIA’S GROWTH FORECAST TO 4.8%
Why in news? The International Monetary Fund (IMF) on 20th January, lowered India’s economic growth estimate for the current fiscal to 4.8% Reasons for slowdown. Decline in rural demand growth and an overall credit sluggishness for the lowering of India forecasts IMF The International Monetary Fund (IMF), is an international organization headquartered in Washington, D.C. […]
SOCIAL MOBILITY INDEX: INDIA RANKS LOW AT 76TH PLACE; DENMARK TOPS
Why in news? India has been ranked very low at 76th place out of 82 countries on a new Social Mobility Index compiled by the World Economic Forum Details The report also lists India among the five countries that stand to gain the most from a better social mobility score that seeks to measure parameters […]
146 IRRAWADDY DOLPHINS SIGHTED IN ODISHA’S CHILIKA
Details India’s largest brackish water lake is home to their highest single lagoon population in the world The Chilika Development Authority (CDA) is elated that the direct sighting of 146 dolphins meant that its population in the lake would stabilise well above 150 The total population of these aquatic mammals in the world is estimated […]
SUBMARINE-LAUNCHED BALLISTIC MISSILE K-4
Why in news? India successfully test-fires 3,500-km range submarine-launched ballistic missile K-4 Details The test was carried out by the Defence Research and Development Organisation (DRDO) from a submerged pontoon off the Visakhapatnam coast Very few countries which have managed to achieve this technological breakthrough Our Circular Error Probability (CEP) is much more sophisticated Once […]
SERVICES SECTOR ACTIVITY GROWTH AT 5 MONTH HIGH
India’s services sector activity gained momentum and touched a five month high in December, supported by an uptick in new business orders that boosted output and employment IHS Markit India Services Business Activity Index improved from 52.7 in November to 53.3 in December 2019, highlighting the second strongest rate of increase in output in over […]
STRESSED URBAN COOPERATIVE BANKS TO FACE PCA LIKE CURBS
Why in News? The Reserve Bank of India (RBI) has decided to impose restrictions on urban cooperative banks (UCBs) for deterioration of financial position, in line with the prompt corrective action (PCA) framework that is imposed on commercial banks RBI’s action includes cancellation of banking license Under this revised Supervisory Action Framework (SAF), UCBs will […]
CONVERGENCE INDIA
Launched in 1992, the Convergence India series of expo is credited as India’s leading Technology Show. It started as a communications and ICT event and it has now become a mega expo showcasing convergence of technologies covering Communications, Digital Broadcast, Internet of Things, AR, VR, Artificial Intelligence, Robotics, Embedded Technology, Mobile Devices & Accessories, Gaming […]
RBI GIVES IN-PRINCIPLE NOD TO SHIVALIK MERCANTILE TO CONVERT TO SFB
Uttar Pradesh based Shivalik Mercantile Co-operative Bank Ltd to convert to a small finance bank (SFB), becoming the first urban cooperative bank (UCB) to make the transition The UCB will get 18 months to comply with the requirements under the scheme, which state that banks with a minimum net worth of ₹50 crore and capital […]
NEW SATELLITES WILL HELP GAGANYAAN CREW
Why in news? India plans to ring in its own era of space to space tracking and communication of its space assets this year by putting up a new satellite series called the Indian Data Relay Satellite System (IDRSS) More about IDRSS The IDRSS is planned to track and be constantly in touch with Indian […]