June 27,2018

Quiz – June 25, 2018
June 26, 2018
Quiz -June 26, 2018
June 27, 2018

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
  4. The Key Initiatives of Government
  5. General Knowledge

Topic 1:Economic development

SEBI set to open commodities to MFs

The Securities and Exchange Board of India (SEBI) as the next set of reforms in the commodity market plans to allow mutual funds to participate in the commodity market.

Commodity market

A commodity market is a physical or virtual marketplace for buying, selling and trading raw or primary products. Commodities are split into two types: hard and soft commodities. Hard commodities are typically natural resources that must be mined or extracted (such as gold, rubber and oil), whereas soft commodities are agricultural products or livestock

The most direct way of investing in commodities is by buying into a futures contract. A futures contract obligates the holder to buy or sell a commodity at a predetermined price on a delivery date in the future.

Derivatives

A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset (like a security) or set of assets (like an index). Common underlying instruments include bonds, commodities, currencies, interest rates, market indexes and stocks

Commodity derivative contracts

Commodity market can includes physical trading in derivatives using spot prices, forwards, futures and options on futures. Collectively all these are called Derivatives.

Physical settlement:

  • A SEBI committee is looking into the issue of physical settlement for commodity derivative contracts.
  • Physical settlement refers to the system where the contract on the day of expiry is settled through the delivery of the underlying commodity instead of the current practice of cash.
  • The regulator will have to first frame the warehousing guidelines for non-agriculture commodities

About Mutual Funds:

  • A mutual fund is an investment vehicle made up of a pool of moneys collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and other assets.
  • Mutual funds are operated by professional money managers, who allocate the fund’s investments and attempt to produce capital gains and/or income for the fund’s investors.
  • A mutual fund’s portfolio is structured and maintained to match the investment objectives stated in its prospectus.

Read more at: The Hindu

Topic 1:Social development

New Swachh Iconic Places

Ten new heritage sites of the country today declared as Swachh Iconic Places.

Key Facts:

  • These Places are Sri Raghavendra Swami Mutt Mantralayam (Andhra Pradesh), Hazarduari Palace (West Bengal), Shri Brahma Sarovar Temple (Haryana), Vidur Kuti Temple (Uttar Pradesh), Mana village (Uttarakhand), Pangong Tso (Jammu and Kashmir), Shri Nag Vasuki Temple (Uttar Pradesh), Nupi Keithel (Manipur), Sree Dharma Sastha Temple (Kerala) and Kanvashram (Uttarakhand)
  • It constitute Phase-III of the Swachh Iconic Places (SIP) is the  initiative of the Swachh Bharat Mission, coordinated by the Ministry of Drinking Water and Sanitation.
  • Phase-I started in 2016 and Phase-II started in 2017 for ten iconic places respectively
  • The initiative aims to achieve a distinctly higher level of sanitation at these places, especially in the peripheries and approach areas
  • The special Swachhata initiatives at these places have received CSR support from public and private companies.
  • SIP Sites Resolve to go 100% Plastic Free

Read more at: PIB

Topic 1:Industrial development

Udyam Sangam-2018

  • President Inaugurates Udyam Sangam-2018 to mark UN Small & Medium Enterprises (SME) Day.
  • It is a step forward towards consolidating the convergence and synergy of all the government initiatives relating to MSME Sector.
  • The UN General Assembly has declared 27th June as Micro, Small and Medium-sized Enterprises Day, recognizing the importance of Micro, Small and Medium-sized Enterprises in achieving sustainable development goals and in promoting innovation, creativity and sustainable work for all.

Read more at: PIB

The Kaleshwaram project

The country’s biggest irrigation project, the Kaleshwaram Lift Irrigation Scheme, in Telangana will start receiving water from the Godavari River.

Highlights:

  • The project envisages to irrigate 18 lakh acres in 13 districts and stabilise another 17 lakh acres in another seven districts of Telangana.
  • It will also provide drinking water to several towns and cities,
  • Provides water for industries in many districts.
  • Telangana will harness water at the confluence of three rivers with Godavari
  • And reverse pump the water into the main Godavari River and divert it into a huge and complex system of reservoirs, water tunnels, pipelines and canals.

Lift Irrigation

  • The project had to be built at such a size and scale because while the Godavari flows at 100 metres above mean sea level (MSL), Telangana region is located at 300 to 650 metres above MSL.
  • The pumps would operate at a cavern and surge pool which also holds a record for being the biggest in the world
  • The first time in the world an irrigation project is using 139 MW pumps to lift huge volume of 2 TMC of water.

Read more at: Indian Express  

National Consumer Disputes Redressal Commission

The Supreme Court declined to extend the term of three members in the National Consumer Disputes Redressal Commission (NCDRC).

About NCDRC:

  • The National Consumer Disputes Redressal Commission (NCDRC), India is a quasi-judicial commission in India which was set up in 1988 under the Consumer Protection Act of 1986.
  • Its head office is in New Delhi.
  • The commission is headed by a sitting or retired judge of the Supreme Court of India along with eight members.
  • It  provides for a 3-tier structure of the National and State Commissions and District Forums for speedy resolution of consumer disputes.
  • Called the District Forums, the State Consumer Disputes Redressal Commissions and the National Consumer Disputes Redressal Commission respectively.
  • The provisions of this Act cover ‘goods’ as well as ‘services’.
  • Section 23 of Consumer Protection Act, 1986, provides that any person aggrieved by an order of NCDRC,  may prefer an Appeal against such order to Supreme Court of India.

Read more at: Indian Express

Topic 2 : Environment

The Caribbean reef (The Mesoamerican Reef ) under recovery

The reef

  • Second largest in the world after the Great Barrier Reef in Australia
  • Stretches from the tip of Mexico’s Yucatan peninsula all the way to Guatemala and Honduras
  • A popular spot with divers
  • One of the largest ecosystems in the Atlantic.
  • The the portion 380 kilometers in the waters off Belize is covered by World Heritage status.
  • Was placed on endangered status in 2009 because of Belize’s plans to allow oil exploration nearby and the general lack of laws to protect the site

Present Status

  • Is now be removed from UNESCO’s list of threatened World Heritage Sites
  • In an informal referendum in 2012 in which 96 per cent of Belizeans voted against offshore oil exploration.
  • The reef is improving thanks to bold steps to save it by environmental activists and the Belizean government.

Elephant relocation experiment

Assam wildlife officials are proposing a jumbo-relocation experiment for reducing man-elephant conflicts in western Assam.

Threats:

  • Human habitations
  • Barriers such as electric fences and trenches have blocked some of the elephant corridors
  • Scores of reserve forests and proposed reserve forests in the district are fragmented and interspersed with villages
  • The Brahmaputra Valley is very narrow and does not have space for so many elephants and humans to coexist without conflicts

Read more at: The Hindu

Topic 2 : Energy

Solar Charkha Mission

The President of India launched the Solar Charkha Mission which will cover 50 clusters and every cluster will employ 400 to 2000 artisans

Highlights:

  • The Mission has been approved by the Government of India for which the MSME Ministry will disburse subsidy of Rs. 550 crores to the artisans
  • the Solar Charkha Mission will generate employment in rural areas
  • Contribute to the green economy.

Read more at: PIB

Topic 3 : ICT

Sampark

  • A portal of the Ministry of MSME called “Sampark”was unveiled by the President of India.
  • The portal will act as a bridge between the talent pool and those enterprises seeking trained man power.

Read more at: PIB

mPassportSeva Mobile App and Passport Scheme

External Affairs Minister Sushma Swaraj launched a new scheme by which an applicant can apply for passport from anywhere in India as well as a revamped app on the occasion of the Sixth Passport Seva Divas.

mPassportSeva Mobile App:

  • Available in Android and iOS platforms
  • the app allows applicants to apply, pay and schedule appointments for passport services, without needing to access to a computer and printer to apply.
  • The mPassport Seva App will now support enhanced set of passport services such as:
  1. New User Registration
  2. Sign In to Registered User Account
  3. Application form filing to apply for Passport and Police Clearance Certificate
  4. Pay for Passport Services
  5. Appointment Scheduling
  6. Application Availability Status vii. Document Advisor
  7. Fee Calculator

Passport new scheme

  • Under this new scheme, applicants can now choose the Regional Passport Office and the desired Passport Seva Kendra /Post Office Passport Seva Kendra under the RPO where they wish
  • Submit their application, irrespective of whether the present residential address specified in the application form lies within the jurisdiction of the selected RPO or not
  • The Police Verification, if required for a specific passport, would be conducted at the address specified in the application form.
  • The passport will be printed and despatched by the RPO selected for application submission by the applicant.

Read more at: Indian Express

Topic 4: The Key Initiatives of Government

UJALA Scheme

  • UJALA – UnnatJyoti by Affordable LEDs for All is an energy efficiency scheme to promote efficient lighting, enhance awareness on using efficient equipment which reduce electricity bills and help preserve environment.  
  • Under this scheme, LED bulbs at 40% of the market price will be distributed to every grid connected consumer.  
  • It is implemented by the Electricity Distribution Company and Energy Efficiency Services Limited (EESL).

MERIT Portal

  • MERIT – Merit Order Despatch of Electricity for Rejuvenation of Income and Transparency
  • The portal has been developed by Ministry of Power in association with POSOCO and Central Electricity Authority.
  • It displays extensive array of information regarding the merit order of Electricity procured by States such as daily source-wise power purchases of respective states/UTs.
  • Information available in the Portal shall help State Discoms to optimize their power procurement in more efficient way leading to lower cost of power to consumers.

Mobile Applications launched by Ministry of Power:

  • Grameen Vidyutikaran (GARV) app to help citizens track rural electrification under DDUGJY.
  • Vidyut Pravah app to provide real time information of electricity price and availability
  • URJA (Urban Jyoti Abhiyaan) app for Urban Power Distribution Sector to enhance Consumer Connect, Project Monitoring of projects and providing information on the monthly performance on parameters like Consumer complaints redressal, Release of New service connection etc.  
  • E-Tarang app to monitor the real time status of Transmission System
  • E-Trans app to help in better price discovery in respect of Inter State Transmission projects.

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