Special Liquidity Scheme
- Special Liquidity Scheme of Rs. 30,000 crore for NBFCs and HFCs is being implemented w.e.f. 1st July, 2020.
- The Scheme has been launched to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector.
- The Scheme is being implemented by SLS Trust, the SPV set up by SBI Capital Markets Limited (SBICAP).
- Eligibility -
- Any NBFC including Microfinance Institutions registered with RBI under the Reserve Bank of India Act, 1934 (excluding those registered as Core Investment Companies).
- Any HFC registered with the National Housing Bank (NHB) under the National Housing Bank Act, 1987 which is complying with certain specified conditions
- The Scheme will remain open for 3 months for making subscriptions by the Trust.
- It permits both primary and secondary market purchases of debt and seeks to address the short-term liquidity issues of NBFCs/HFCs.
- Therefore, those market participants who are looking to exit their standard investments with a residual maturity of 90 days may also approach the SLS Trust.
Kumhar Sashaktikaran Yojana
- Kumbhar Sashaktikaran Program is an initiative of the Khadi and Village Industries Commission (KVIC).
- It aims for empowerment of potter community in the remotest of locations in the country.
- The program reaches out to the potters in U.P., M.P., Maharashtra, J&K, Haryana, Rajasthan, West Bengal, Assam, Gujarat, Tamil Nadu, Odisha, Telangana and Bihar.
- The average income of potters under the Kumhar Sashaktikaran Yojana has gone up from nearly Rs 3,000 per month to nearly Rs 12,000 per month.
- This program provides the following support to potters.
- Training for advanced pottery products
- Latest, new technology pottery equipment’s like the electric Chaak
- Market linkages and visibility through KVIC exhibitions
Global Forest Resources Assessment
- Global Forest Resources Assessment is released by the United Nations Food and Agriculture Organization (FAO), every five years since 1990.
- This report assesses the state of forests, their conditions and management for all member countries.
Highlights of 2020 report -
- The top 10 countries that have recorded the maximum average annual net gains in forest area during 2010-2020 are China, Australia, India, Chile, Vietnam, Turkey, the United States, France, Italy and Romania.
- In India the forest area managed by local, tribal and indigenous communities in India increased from zero in 1990 to about 25 million ha in 2015.
- The area of naturally regenerating forests worldwide decreased since 1990, but the area of planted forests increased by 123 mha.
- Africa had the largest annual rate of net forest loss in 2010–2020, at 3.9 mha, followed by South America, at 2.6 mha.
- On the other hand, Asia had the highest net gain of forest area in 2010–2020, followed by Oceania and Europe.
- The largest proportion of the world’s forests were tropical (45%), followed by boreal, temperate and subtropical.
Current Swap Agreement
- A currency swap between the two countries is an agreement or contract to exchange currencies with predetermined terms and conditions.
- Central banks and Governments engage in currency swaps with foreign counterparts
- To meet short term foreign exchange liquidity requirements
- To ensure adequate foreign currency to avoid Balance of Payments (BOP) crisis till longer arrangements can be made.
- Currency swaps are used to obtain foreign currency loans at a better interest rate than could be got by borrowing directly in a foreign market.
- RBI has recently agreed to a $400 million currency swap facility for Sri Lanka till November 2022.
- The RBI’s action follows a recent bilateral ‘technical discussion’ on rescheduling Colombo’s outstanding debt repayment to India.
Dhruvastra
- Recently trials of India’s Helicopter- launched Nag Missile anti-tank guided missile (HELINA), were successfully conducted.
- HELINA now known as Dhruvastra, is developed by DRDO.
- It is a third-generation fire and forget class anti-tank guided missile (ATGM) system that has been mounted on the Advanced Light Helicopter (ALH).
- The system consists of all the weather day and night capability and can easily defeat battle tanks with a conventional armor and explosive reactive armor.
- The missile can also engage targets both in the direct hit mode and as well as top attack mode.
Sub-Group on Traditional Medicine
- Union Minister of Health and Family Welfare digitally participated in the Shanghai Cooperation Organization (SCO) Health Minister's Digital Meet.
- There is currently no institutional mechanism within SCO to discuss cooperation in Traditional Medicine.
- Traditional Medicine has the potential to fulfil the WHO Traditional Medicine Strategy 2014-2023.
- India proposes to set up a Sub-Group on Traditional Medicine under the existing Institutional Meetings of the SCO Health Ministers.
Source: PIB, the Hindu, Down to Earth, Economic Times
