Long-Term Repo Operations
RBI has announced long-term repo operations, an instrument outside the framework of the Monetary Policy Committee aimed at lowering the cost of lending of banks... Read more
Energy Neutral’ railway stations
Prelims – Environment
1. South Central Railway (SCR) has become the first on Indian Railways to come up with the concept of ‘Energy Neutral’ railway stations.
2. These stations are capable of meeting 100% energy requirements by tapping natural solar power through Solar Photo Voltaic (SPV) panels.
3. The anticipated energy generation from these stations comes to around 1.3 lakh units annually and it is expected that solar power will also lead to savings of ₹13 lakh each year.
4. The generation of clean solar energy will help reduce carbon footprints of about 1,170 tonnes per annum.
Source: The Hindu
Criminal record of Election candidates
Prelims – Governance
1. The Supreme Court ordered political parties to publish the entire criminal history of their candidates for Assembly and Lok Sabha elections.
2. It also ordered to state the reasons that motivate them to field suspected criminals over decent people.
3. A party has to reason its decision on giving tickets to such candidates other than the reason of candidate’s “winnability at the polls”.
4. The information should be published in a local, a national newspaper and the parties’ social media handles.
5. It should mandatorily be published either within 48 hours of the selection of candidates or less than two weeks before the first date for filing of nominations, whichever is earlier.
6. Political parties must submit compliance reports with the Election Commission of India within 72 hours or risk contempt of court action.
7. The judgment is applicable to parties both at Central and State levels.
Source: The Hindu
Prelims – Economy
1. Financial technology is becoming an integral part of the global financial system, but its adoption within countries varies significantly.
2. Factors like the unmet demand for financial services and demographics can be reasons for the differences in adoption.
3. Credit platforms have achieved an economically significant scale in the US and the UK.
4. In emerging and developing economies like India and Bangladesh mobile payments have picked up. China has made significant progress in fintech credit and mobile payments.
5. The fintech market is larger in richer nations, but it is of more importance in developing economies as it caters to populations without access to banks.
6. It’s important for economies and their growth can enhance financial inclusion in developing nations, address market failures in financial systems and improve cross-border financial integration.
7. It also faces risks like market shocks across institutions, monopoly by big fintech firms and speculative bubbles of financial assets that need to be addressed by regulation.
Source: Live Mint
Ek Bharat Shrestha Bharat
Prelims – Art and Culture
Meghalaya is paired with the State of Uttar Pradesh and Arunachal Pradesh under the Ek Bharat Shrestha Bharat programme for the year 2019-2020.
Objectives of the initiative are
1. To Celebrate the Unity in Diversity of our Nation and to maintain and strengthen the fabric of traditionally existing emotional bonds between the people of our Country,
2. To promote the spirit of national integration through a deep and structured engagement between all Indian States and Union Territories,
3. To Showcase the rich heritage and culture, customs and traditions of either State for enabling people to understand and appreciate the diversity that is India,
4. To Establish long-term engagements and,
5. To Create an environment that promotes learning between States by sharing best practices and experiences.
Prelims – Miscellaneous
1. The ninth edition of Indo-Bangladesh Joint Military Exercise SAMPRITI-IX commenced in Meghalaya.
2. The main focus of this edition of the joint exercise is on Counter-Terrorism Operations in mountainous and jungle terrain.
3. The Exercise SAMPRITI is held alternately in India and Bangladesh every year.
4. The aim of this excise is to build, strengthen and promote positive relations between the Armies of both nations.