• Admin

Daily Current Affairs : 25-Jan-2020

Major Topics Covered :

  1. IFSC BANKING UNITS (IBUS)

  2. NEW ARCHAEON- NATRIALBA SWARUPIAE

  3. ICC-CLIMATE CHANGE

  4. ASSOCIATION FOR DEMOCRATIC REFORMS- CRIME IN POLITICS

  5. STABLISHMENT OF CHAIRS NAMED AFTER EMINENT WOMEN IN UNIVERSITIES

  6. NATIONAL VOTERS' DAY

  7. THAI AMAVASAI -TAMIL NADU

  8. ISRO INTRODUCED VYOMMITRA


IFSC BANKING UNITS (IBUS)

Part of GS-3 Economy


Why in news?

  • In regard to IFSC Banking Units (IBUs) being allowed to participate in exchange traded currency derivatives on rupee (with settlement in foreign currency).

  • And listed on stock exchanges set up at IFSCs, the Reserve Bank of India (RBI) said banks should ensure their IBUs should have necessary expertise to price, value and compute the capital charge and manage the risks associated with the products /transactions intended to be offered.


Highlights:

  • The RBI also stated that banks should also obtain their board’s approval for undertaking such transactions.

  • RBI had earlier accepted the recommendation made by the Task Force on Offshore Rupee Markets chaired by Usha Thorat following which it permitted rupee derivatives (with settlement in foreign currency) to be traded in IFSC.

  • “IBUs shall follow all other risk mitigation and prudential measures as applicable and detailed in this circular while participating in these products,” RBI stated.

  • In April 2015, the Reserve Bank had formulated a scheme for setting up of International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs.


Source: Indian Express



NEW ARCHAEON- NATRIALBA SWARUPIAE

Part of GS- 3 S&T


Why in news?

  • Scientists at the National Centre for Microbial Resource — National Centre for Cell Science (NCMR-NCCS) in Pune have reported a new archaeon (a kind of microorganism), which they discovered in Sambhar Salt Lake in Rajasthan.


Highlights:

  • The discovery was described in the International Journal of Systematic and Evolutionary Microbiology. This is the only journal that publishes the description of new microbial taxa, said Dr Yogesh Shouche, senior scientist at NCCS.

Why it matters:

  • Archaea (singular archaeon) are a primitive group of microorganisms that thrive in extreme habitats such as hot springs, cold deserts and hypersaline lakes.

  • These slow-growing organisms are also present in the human gut, and have a potential relationship with human health.

  • They are known for producing antimicrobial molecules, and for anti-oxidant activity with applications in eco-friendly waste-water treatment.

  • Archaea are extremely difficult to culture due to challenges in providing natural conditions in a laboratory setting, said Dr Avinash Sharma, one of the researchers at NCMR-NCCS.

  • Very few groups are working on their cultivation, said co-author Swapnil Kajale.

  • Scientists in China, Israel, Russia and a few countries in Europe are working on the taxonomy of archaea, but going by the number of publications that are coming out on all bacterial taxonomy, the studies on archaea are outnumbered.

  • As archaea are relatively poorly studied, very little is known about how archaea behave in the human body.

  • About Natrialba swarupiae:

  • The new archaeon discovered in Sambhar Lake has been named Natrialba swarupiae, after Dr Renu Swarup, secretary, Department of Biotechnology, for her initiative in supporting microbial diversity studies in the country.

  • Once the new organism was found, it took researchers one year to complete the study because archaea grow so slow.

Source: Indian Express



ICC-CLIMATE CHANGE

Part of GS- 3 Environment & Ecology


Why in news?

  • Philanthropy arms of top corporates, including the Tatas, Mahindras, Godrejs and Premjis, announced a partnership to minimise the climate change impact.