Current Affairs 11th April

National Affairs

1. In Chennai, TN, the PM dedicates a number of projects to the nation and lays the foundation stone.

India’s Prime Minister Narendra Modi laid the foundation stone and dedicated several projects to the nation at an event in Chennai, Tamil Nadu (TN), on April 8, 2023, during his visit to Tamil Nadu.

 

The PM unveiled the New Integrated Terminal Building (NITBPhase 1) of Chennai International Airport, also known as the “Golden Terminal,” which will improve passenger service. The airport’s capacity to serve passengers will grow from 23 Million Passengers Per Annum (MPPA) to 30 MPPA as a result.

 

The “Chennai– Coimbatore Vande Bharat Express,” which will travel from Chennai to Coimbatore, has been officially launched by the PM.

 

He also attended the Vivekananda House celebrations in Chennai to mark the 125th anniversary of Sri Ramakrishna Math.

2. PM Inaugurated ‘Commemoration of 50 years of Project Tiger’; Launched IBCA 

The first event of its kind in India to commemorate Project Tiger’s 50th anniversary was held on April 9, 2023, at Mysuru University in Mysuru, Karnataka, and was opened by Prime Minister (PM) Narendra Modi.

 

Other Significant Projects:

 

In collaboration with nations that contain the natural habitat of these seven major big cat species, the PM established the International Big Cats Alliance (IBCA) for the conservation of these species. These big cats include the tiger, lion, leopard, snow leopard, puma, jaguar, and cheetah.

 

He declared the number of tigers and released the summary report of the fifth cycle of the Management Effectiveness Evaluation of Tiger Reserves, as well as the publications “Amrit Kaal Ka Vision For Tiger Conservation.”

 

He also put out a coin to celebrate Project Tiger’s 50th anniversary.

3. UP gets World’s First Conservation & Breeding Centre for Asian king vultures

On International Vulture Awareness Day (the first Saturday in September), the world’s first conservation and breeding center for the Asian king vulture, the Jatayu Conservation and Breeding Centre (JCBC) in Uttar Pradesh’s Maharajganj district, is scheduled to be opened by UP Chief Minister Yogi Adityanath.

 

The JCBC is in the Farenda range of the Gorakhpur forest division, near the village of Bhari Baisi.

 

Under the Wildlife Protection Act, the Asian king vulture is protected because it is critically endangered.

 

Aim:

 

The center’s goal is to breed and release captive-bred king vultures into the wild to ensure a sustainable population of the species.

 

Center for Jatayu Conservation and Breeding (JCBC):

 

The JCBC is spread across 1.5 hectares in the Gorakhpur woods division.

 

It is a cutting-edge facility with multiple aviaries (bird cages) for vultures, including breeding and holding aviaries, nursery aviaries for juveniles, and hospital and recovery aviaries for those in need of medical care. The total cost of the facility is approximately 15 crore rupees.

 

Other features include an incubation center where eggs are artificially raised to guarantee 100% success and a food processing unit where vulture food is manufactured and tested before being served to the birds.

 

It is a project that will last 15 years and aims to raise at least 40 vultures.

 

Regarding the Asian King Vulture:

 

The Asian king vulture (Sarcogyps calvus), more commonly referred to as the red-headed vulture, Indian black vulture, or Pondicherry vulture, is primarily found in the Indian subcontinent, with isolated populations in a few regions of Southeast Asia.

 

The International Union for the Conservation of Nature (IUCN) upgraded the species’ status from “least concern” to “near threatened” in 2004.

On the IUCN Red List, it was elevated to the status of “critically endangered” in 2007.

 

The widespread administration of diclofenac, an NSAID, in veterinary care has led to a decline in the vulture population in India in recent years.

In India, diclofenac is no longer utilized in veterinary medicine.

 

Central issues:

 

In 2021, the center’s infrastructure construction began.

 

2 Periods of the Focuses:

 

First phase: putting all of the infrastructure in place.

Vulture breeding in the third phase Ten vultures will be available for breeding at the JCBC. The adults who are breeding will be added gradually.

 

For technical guidance, the forest department has collaborated with the Bombay Natural History Society.

4. MoF Establishes 4-Member Panel to Review Pension System for Government Employees

To investigate the pension system for government employees, the Ministry of Finance (MoF) has established a committee consisting of four members and headed by Finance Secretary T. V. Somanathan.

 

The board will likewise incorporate Deepak Mohanty, Executive, Annuity Asset Administrative

furthermore, Advancement Authority (PFRDA); Special Secretary for the Ministry of Finance, Annie Matthew; and Radha Chauhan, Secretary of the Ministry of Personnel, Public Grievances, and Pensions’ Department of Personnel & Training (DoPT).

 

As per its order, the board of trustees would suggest any essential changes

to the Public Annuity Framework (NPS), by and large known as the New Benefits Plan,

in accordance with workers of the public authority.

 

Background 

 

Finance Minister Nirmala Sitharaman made the announcement in March 2023 that a committee led by the Finance Secretary would be formed to look into the issue of government employees receiving NPS pensions and come up with a solution that meets the needs of employees while maintaining fiscal discipline.

 

The decision comes as employee associations in a few other states increase demand for the Old Pension Scheme (OPS), which is linked to a state’s dearness allowance.

 

Rajasthan, Chhattisgarh, Jharkhand, Punjab, and Himachal Pradesh have informed the Government of India (GoI) of their decision to return to the OPS and requested a reimbursement for the NPS corpus.

 

Note:

 

The Ministry of Finance has informed Parliament that it will not consider any suggestions to reinstate the OPS for GoI employees hired after January 1, 2004.

 

What the committee does:

 

The committee will offer recommendations for improving the pension benefits of NPS-covered government employees while also guaranteeing fiscal discipline to safeguard common citizens.

 

The committee would establish its own procedure and mechanism, including consultation with states, to arrive at its recommendations.

 

In any case, the MoF didn’t determine a cutoff time for the board’s suggestions

to be submitted.

 

Central issues:

 

The NPS has been presented for all administration workers, aside from those in the

military, who joined the GoI on or after January 1, 2004.

 

The majority of state and union territory (UT) governments have also informed the National Personnel Service (NPS) about their new employees.

 

The PFRDA says that 26 state governments have notified and implemented NPS for their employees, with the exception of West Bengal and Tamil Nadu.

5. Two-day 1st International Quantum Communication Conclave held on 27-28 March 2023

Devusinh Chauhan, the Minister of State for Communications, and Ashwini Vaishnaw, the Minister of Communications, Electronics & Information Technology, and Railways, officially opened the two-day “First International Quantum Communication Conclave” on March 27, 2023, at Vigyan Bhawan in New Delhi.

 

The conference was coordinated by the Division of Media communications (Spot),

Service of Correspondences, and Media transmission Designing Center (Detective), in

joint effort with C-Dab, TSDSI and IEEE Interchanges Society – Delhi

part.

 

The conclave aims to bring together practitioners, start-ups, researchers, and the scientific community from around the world.

 

It gave people a chance to find out about the most recent developments in quantum communication technologies.

 

Additional Details:

 

At the conclave, the standards for the “Quantum-Safe and Classical Cryptography System” and “Test Guide of Quantum Key Distribution (QKD) System” were made public.

 

Communication security solutions based on QKD and Post Quantum Cryptography (PQC) have been developed by C-DOT.

 

Ashwini Vaishnaw reported the Quantum Hackathon 2023 to track down weaknesses

in QKD, PQC arrangements and to additionally fortify the Quantum Biological system in India.

 

For each successful hack into the QKD or PQC systems, applicants to the hackathon would receive a prize of Rs 10 lakh and the opportunity to further collaborate with C-DOT in the field of quantum security.

 

Through CDOT’s Collaborative Research Policy (CCRP 2022), funding for the creation of solutions that can breach QKD or PQC security was also announced.

-Pandit Deendayal Upadhyaya Telecom Ability Greatness Grants 2022

Pandit Deendayal Upadhyaya Telecom Ability Greatness Grants – 2022 was introduced

on Walk 27, 2023 at the meeting.

 

DoT established the award to recognize outstanding contributions made by the telecom ecosystem to skilling, services, manufacturing, and applications.

Awardees of Pandit Deendayal Upadhyaya Telecom Expertise Greatness Grants

– 2022:

 

S.no Name of Awardee’s Work or Contribution: 

 

1 Sterlite Technologies Ltd., Pune Pune Skill development in the telecom sector; 2 Vihaan Networks Limited, Gurugram Technology development and manufacturing of solar-powered 4G RAN in India for remote and rural areas; 3 QuNu Labs Private Limited, Bengaluru Quantum Communication and security solution work; 4 Dhruva Space Private Limited, Hyderabad Satellite communication work; 5 Inntot Technologies Pvt Ltd., Erna

Banking and Finance

1. Norway, Singapore gain as India’s FPI destinations in FY23, Mauritius declines

Norway and Singapore emerged as India’s FPI (Foreign Portfolio Investment) destinations in FY23, according to data from the Mumbai-based National Securities Depository Limited (NSDL), while Mauritius experienced the sharpest decline.

 

Singapore is now India’s second-largest jurisdiction for FPI flows, following the United States.

Singapore is ranked third, followed by Luxembourg, and Mauritius has dropped from second in FY22 to fourth in FY23.

 

Central issues:

 

At the end of March 2023, the total Assets Under Custody (AUC) of Mauritius decreased by nearly 42% to Rs 3.25 lakh crore, down from Rs 5.55 lakh crore in March 2022.

 

During FY23 the AUC increased by 13% and 5%, respectively, in Norway and Singapore. The renegotiation of the India-Mauritius tax treaty and increased scrutiny of flows are to blame for the diminished attractiveness of Mauritius as a preferred location for FPI into India.

 

With asset price depreciation and capital outflows of more than Rs 35,000 crore, FPI AUC fell 4.44 percent in FY23.

 

FPIs have sold Indian stocks worth Rs 23,844 crore since the beginning of the year 2023. They recorded steep surges worth Rs 28,852 in January 2023, the

most elevated in 7 months, in any case, it directed in February 2023 preceding turning positive in Walk 2023.

2. MPR (April 2023) by RBI: Loan Growth in FY23 at an 11-Year High Despite a Sharp Increase in Lending Rates 

In spite of banks fully transmitting lending rates linked to external benchmarks [250 basis points (bps)], which now account for nearly half of floating-rate loans, credit growth continued to outpace deposit growth in the financial year 2022-23 (FY23) at an eleven-year high, according to the Reserve Bank of India’s (RBI) Monetary Policy Report (April 2023).

In FY23, bank credits expanded 14.6% while stores expanded simply 9.6%.

 

The highest rate of credit growth since FY 2011–12, when credit increased by 17%, occurred in FY23.

 

The most significant increase in lending rates occurred in FY23.

Transmission of Monetary Policy I. Since May 2022 to Walk 2023, banks have climbed their repo-connected Outer

 

Benchmark-Based Loaning Rates (EBLRs) by 250 bps to stay up with the

strategy repo rate.

 

The inward benchmark for advance estimating, the Minor Expense of Assets Based

Loaning Rate (MCLR), expanded by 140 bps from May 2022 to Walk 2023.

Science and Technology

1. Israel Launches ‘Ofek 13’ Reconnaissance Satellite into Space

Israel successfully launched the Ofek 13, a brand-new Israeli spy satellite aboard the Shavit launch vehicle, into space in March 2023 from the Palmachim Airbase spaceport, which is close to the Israeli cities of Yavne and Rishon LeZion.

As Israel prepares for a potential conflict with Iran, this would increase regional monitoring around the clock.

 

The Ofek-13, produced by Israel Aerospace Industries (IAI), a state-owned company, is the most recent in a line of Israeli-made satellites that were launched into space in 1988.

The Ofek 13 is the most current Israeli observation satellite to sent off, follow

the Ofek 16 in the late spring of 2020.

 

Key Features:

 

In accordance with the initial launch plans, the Israeli Defense Ministry claims that the satellite has entered orbit, begun transmitting data, and completed an initial round of inspections.

 

It was launched using a Shavit missile over the Mediterranean Sea, which Israel typically moves in the west to prevent its neighbors in the Middle East from obtaining sensitive technology in the event of a malfunction.

 

As per the IAI, “Ofek 16” is an “electro-optical observation satellite with

high level abilities.”

 

The locally developed “Shavit” launcher, which was used to launch previous Ofek satellites, was used to launch it into space.

 

Ofek-13:

 

The “Ofek-13” is the most advanced of its kind. It has one-of-a-kind radar observation capabilities, making it possible to collect intelligence in any weather or visibility conditions.

 

The synthetic aperture radar (SAR) observation satellite Ofek-13 has advanced capabilities Israel would be able to take high-quality photos regardless of the weather or the time of day or night with the new satellite.

 

The satellite would enable Israeli decision-makers to make sound choices.

2. Iran successfully tests Kamikaze Drone Equipped with 50-kg Warhead

Iran’s Islamic Revolution Guards Corps (IRGC) has successfully tested a homemade kamikaze drone with a 50-kg warhead that has high precision and long range. The “Meraj-532” unmanned aerial vehicle has a range of 450 kilometers and can fly for three hours straight at a maximum altitude of 12,000 feet.

 

The UAV is suitable for rapid response operations due to its ease of assembly and flight preparation.

 

Over the past few years, Iran has made significant progress in the manufacturing of unmanned aerial vehicles (UAVs), and it now produces drones that can perform a wide range of tasks.