News In Short-10-10-2024

National Maritime Heritage Complex (NMHC)

Syllabus :GS 1/Culture 

In News

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.

About National Maritime Heritage Complex (NMHC)

• It is being constructed at Lothal, Gujarat, a site of historical significance linked to the Indus Valley Civilization. The project is under the Ministry of Ports, Shipping, and Waterways.
• Its primary objective is to showcase the maritime heritage of India from ancient to modern times, utilizing an edutainment approach and incorporating the latest technology
• Importance: The NMHC is set to become the world’s largest maritime museum complex, positioning it as a key international tourist destination.
• The project aligns with the Prime Minister’s vision to showcase India’s 4,500-year maritime heritage, initiated by the Ministry of Ports, Shipping & Waterways (MoPSW).
  • It is a part of the Sagarmala Programme, a flagship initiative by the Government of India aimed at promoting port-led development and enhancing the efficiency of logistics in the country.
  • Employment generation.

Source: PIB

Sahara Desert

Syllabus: GS1/ Geography

Context

• The Sahara Desert in southeastern Morocco has experienced a rare deluge of rainfall, transforming it into a blue lagoon.

About Sahara

• Location: It stretches from the Red Sea in the east and the Mediterranean in the north to the Atlantic Ocean in the west, where the landscape gradually changes from desert to coastal plains.
  • To the south it is bounded by the Sahel, a belt of semi-arid tropical savanna.
• It stretches across countries, including Algeria, Egypt, Libya, Mali, Mauritania, Morocco, Niger, Western Sahara, Sudan, Chad, and Tunisia. 
• Mountains:  Ahaggar Mountains, Tibesti Mountains, Aïr Mountains.
• Human Inhabitants: It is home to nomadic groups like the Tuareg and Berbers.
• Flora: Date palms, tamarisk, and acacia trees.
• Fauna: Gazelles, Addax (antelope), Saharan silver ant etc.

Source: TOI

EVM Battery Functionality

Syllabus: GS2/Governance

In News

The Congress party has raised concerns about the Haryana Assembly election results, questioning the integrity of Electronic Voting Machines (EVMs).

About

• The ECI has not officially responded to the allegations but stated that no complaints about EVM batteries were received during polling.
• Legal challenges to EVMs have consistently failed, and the Supreme Court recently upheld the use of EVMs, rejecting calls for a return to paper ballots.

EVM Battery Functionality:

• EVMs operate on alkaline batteries, with the control unit (CU) typically having a power pack of 7.5 or 8 volts and the Voter Verifiable Paper Audit Trail (VVPAT) unit at 22.5 volts.
• Battery levels are monitored and displayed as “High”, “Medium”, “Low”, and “Change Battery.”
  • A new battery generally lasts throughout the election and counting process.
• Battery Change Procedure:Batteries are checked and installed before elections, with political party representatives allowed to observe.
  • In case of low battery during polling, a replacement occurs in the presence of polling agents and sector officers.

Source:IE

Indian Institute of Skills (IIS)

Syllabus: GS2/Governance

In News

• Prime Minister Narendra Modi inaugurated various development projects in Maharashtra worth over Rs 7600 crore via video conference.

Indian Institute of Skills (IIS):

• IIS was launched in Mumbai to enhance the employability of Indian youth for national and global opportunities.
• It was established through a Public-Private Partnership (PPP) between the Ministry of Skill Development and Tata Trusts.
• It aims to prepare an industry-ready workforce for Industry 4.0.
  • Initially offers six specialized courses, including Advanced Industrial Automation and Electric Vehicle Battery Specialist.
• Key Training Areas: Focuses on factory automation, digital manufacturing, mechatronics, artificial intelligence, data analytics, and additive manufacturing.
• Importance  :It is aimed at creating a skilled, resilient workforce to drive economic growth and prosperity.
  • IIS is pivotal for India’s vision as the “Skill Capital of the World.”

Source:PIB

Forex Reserves Hit All-Time High of $704.89 Billion

Syllabus: GS3/ Economy

Context

• India’s forex reserves reached a record high of $704.89 billion as of September 27, marking a $12.5 billion increase.

About

• Foreign Exchange Reserves are assets held by a country’s central bank in foreign currencies. These reserves include;
  • Foreign Currencies: A reserve of foreign currencies, including US dollars, euros, yen, etc.
  • Special Drawing Rights (SDRs): These are international reserve assets allocated by the International Monetary Fund (IMF).
  • Reserve Position in the IMF: This is the amount a country can access in the IMF without conditions.
  • Gold Reserves
• Reserve Bank of India (RBI) is the custodian of the Foreign exchange reserves in India.

Purposes of Foreign Exchange Reserves

• Stabilizing Currency: Reserves help stabilize the national currency by managing exchange rate volatility. 
• Supporting Imports and Debt: Reserves are used to pay for essential imports or service external debt.
• Confidence in Economy: Large reserves provide confidence to foreign investors regarding a country’s economic stability.
• Balance of Payments: These reserves help manage any deficits in a country’s balance of payments.

Source: ET

Non-banking financial companies (NBFCs)

Syllabus: GS3/Economy

Context

• Reserve Bank of India (RBI) governor Shaktikanta Das warned of action against those non-banking financial companies (NBFCs) who are pursuing unsustainable practices to push growth.

Non-banking financial companies (NBFCs)

• It is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/ debentures/securities issued by Government or local authority or other marketable securities.
• They are financial institutions that offer various banking services but do not have a banking license. 
• Generally, these institutions are not allowed to take traditional demand deposits—readily available funds, such as those in checking or savings accounts—from the public.
• The functions of the NBFCs are managed by both the Ministry of Corporate Affairs and the Reserve Bank of India.

What is the difference between banks & NBFCs?

• NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below:
  • NBFC cannot accept demand deposits;
  • NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;
  • Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.

Source: TH

Digital Arrest

Syllabus: GS3/ Internal Security

Context

• Fraudsters in Indore duped a 65-year-old woman of ₹46 lakh through a five-day fake interrogation, in a case of ‘digital arrest.’

What is Digital Arrest?

• Digital Arrest is a form of cyber fraud where scammers impersonate law enforcement officers through audio or video calls, falsely accusing individuals of crimes or legal violations. 
• The fraudsters use fabricated legal documents and confine victims to their homes by threatening arrest unless a payment is made. 

The Legality of Digital Arrests in India

• Arrests in India require physical detention by recognized law enforcement officials under the Code of Criminal Procedure, 1973 or under the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS). 
• The law only provides for service of the summons and the proceedings in an electronic mode. 

Measures taken by government

• The Indian Cyber Crime Coordination Centre (I4C) blocked over 1,000 Skype IDs linked to fraud, collaborating with Microsoft, and provided technical support to state/UT police for investigations.

• The National Cyber Coordination Centre (NCCC) monitors cyber threats and facilitates timely information sharing to enable proactive, preventive, and protective actions by entities.
• Chakshu Facility: It is a feature on the Sanchar Saathi portal that encourages citizens to proactively report suspected fraudulent communications received via call, SMS, or WhatsApp.

Source: TH

CCS clears deals for 31 MQ-9B drones and Nuclear Submarines

Syllabus: GS3/Defence

Context

• The Cabinet Committee on Security (CCS) approved the purchase of 31 MQ-9B High Altitude Long Endurance (HALE) Unmanned Aerial Vehicles (UAV) from General Atomics of the U.S. as well indigenous construction of two Nuclear Attack Submarines (SSN).

About

• Nuclear Attack Submarines: India has already indigenously manufactured nuclear-powered ballistic missile submarines (SSBN) and the SSN project will be a follow-on to that.
  • The submarines are likely to be built at the Ship Building Centre in Visakhapatnam and will involve private sector firms.
  • The SSNs are a critical requirement for the Navy which give unlimited endurance to perform a variety of tasks. 
• The MQ-9Bs, to be assembled in India, will enhance the ISR (intelligence, surveillance, and reconnaissance) capabilities of India’s armed forces.
  • They can also carry out precision strikes on strategic targets in mountains and the maritime domain during long-endurance missions.

Cabinet Committee on Security (CCS) – Members: It is chaired by the Prime Minister, the CCS has the ministers for Finance, Defence, Home Affairs and External Affairs as its members. – Functions: It is responsible for debates, discussions and appointments of/ in the national security bodies. a. Major decisions with respect to the significant appointments, issues of national security, defence expenditure of India are taken by CCS. b. Besides dealing with defence related issues, the CCS also brainstorms on issues relating to law and order and internal security, and policy matters concerning foreign affairs on security-related issues.  c. It also considers matters relating to atomic energy.

Source: TH

MALABAR- 2024

Syllabus :GS 3/Defence

Context

• The maritime exercise Malabar 2024, the most comprehensive version of all editions so far, commenced at Visakhapatnam, India.

About: Exercise Malabar

• The Malabar series of exercises began as an annual bilateral naval exercise between India and the United States in 1992. 
• However, it has evolved into a key multilateral event aimed at enhancing interoperability, fostering mutual understanding, and addressing shared maritime challenges in the Indian Ocean and Indo-Pacific region.
• Japan joined the naval exercises in 2015 and Australia rejoined the exercise in 2020 after having last participated in 2007. 

Source: PIB