January 11,2019

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Current Affairs for Engineering Service Exam

 Topics list:

  1. National and International Issues on
    1. Economic Development
    2. Social Development
    3. Industrial Development
  2. Energy and Environment
    1. Energy
    2. Environment
  3. Information and Communication Technology
    1. Technology
    2. Application
  1. General Knowledge

Topic 1:Economic development

Bilateral Swap Arrangement

The Union Cabinet has approved the proposal for entering into an Agreement for Bilateral Swap Arrangement (BSA) between India and Japan.

Salient Features:

  • Authorizing the Reserve Bank of India (RBI) to sign the Agreement for Bilateral Swap Arrangement between the RBI and the Bank of Japan for a maximum amount of USD 75 billion.
  • The purpose of maintaining an appropriate level of balance of payments for meeting short-term deficiency in foreign exchange.

Benefits:

  • Assisting each other in times of difficulty and for restoring international confidence.
  • The facility will enable the agreed amount of Capital being available to India on tap for use.
  • The prospects of Indian companies would improve in tapping foreign capital as there would be greater confidence in stability of country’s exchange rate.
  • Availability of such swap line to tide over difficulties arising out of Balance of Payment (BOP) would deter speculative attacks on the domestic currency.
  • It greatly enhance the RBI’s ability to manage exchange rate volatility.
  • Milestone in mutual economic cooperation and special strategic and global partnership between India and Japan.

About Bilateral Swap Arrangement:

  • It is an agreement to exchange currency between two foreign parties.
  • The agreement consists of swapping principal and interest payments on a loan made in one currency for principal and interest payments of a loan of equal value in another currency.

About BOP:

The balance of payments(BOP) is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a quarter or a year.

Read more at: PIB

Tokenization

The Reserve Bank of India’s (RBI) decided to allow card payment providers to offer tokenization services.

Highlights:

  • Tokenization involves a process in which a unique token masks sensitive card details like card and CVV number.
  • The token is used to perform card transactions in contactless mode at Point Of Sale (POS) terminals, Quick Response (QR) code payments, etc.
  • Tokenization is the foundational aspect of taking payment security and safety to the next level by devaluing data and replacing payment credentials with tokens.
  • Tokenization is expected to increase digital transactions in India.
  • This will ensure the safety of digital transactions and reduce chances of fraud.

How it works?

  • The debit or credit card holder will create a code for a particular amount, say Rs. 1000, through an app in the form of a number.
  • That number will have the amount that can be spent, the merchant type where it can be spent as well as time within which the transaction needs to be completed.
  • Then the number can be shared with the merchant who will enter it in the mobile, to get the payment for the items sold.

Read more at: ET

Topic 1:Industrial development

National Rail & Transport Institute (NRTI)

India’s first rail and transportation university, National Rail & Transport Institute (NRTI) set up in Vadodara, Gujarat.

Key Facts:

  • NRTI is focused on transport-related education, multidisciplinary research and training.
  • It was established as a Deemed to be University under the de Novo category in 2018 to create a resource pool of best-in-class professionals for the railway and transportation sector.
  • NRTI seeks to forge collaboration with leading international institutions in the areas of Joint research and faculty and student exchange.
  • It is planning to offer two fully-residential undergraduate courses – BSc. in Transportation Technology and DBA in Transportation Management.
  • These three-year degree programs have interdisciplinary curricula, benchmarked with leading institutions in the world, consisting of foundation, core and elective courses.

Read more at: PIB

Topic 2 : Environment

National Clean Air Programme (NCAP)

National Clean Air Programme (NCAP) is a time bound national level strategy for pan India implementation to tackle the increasing air pollution problem across the country in a comprehensive manner.

Highlights:

  • The objective of the NCAP is comprehensive mitigation actions for prevention, control and abatement of air pollution besides augmenting the air quality monitoring network across the country and strengthening the awareness and capacity building activities.
  • It takes into account the available international experiences and national studies, the tentative national level target of 20%–30% reduction of PM2.5 and PM10 concentration by 2024 is proposed.
  • NCAP taking 2017 as the base year for the comparison of concentration.
  • The NCAP will be a mid-term, five-year action plan with 2019 as the first year.
  • The NCAP is envisaged to be dynamic and will continue to evolve based on the additional scientific and technical information as they emerge.
  • The NCAP will be institutionalized by respective ministries.
  • The program will partner with multilateral and bilateral international organizations, and philanthropic foundations and leading technical institutions to achieve its outcomes.
  • It envisages for increasing number of monitoring stations in the country including rural monitoring stations, technology support, emphasis on awareness and capacity building initiatives, setting up of certification agencies for monitoring equipment, source apportionment studies, emphasis on enforcement, specific sectoral interventions etc.

Read more at:PIB

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