Current Affairs for IAS Exams - 22 October 2021

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NITI Aayoghas collaborated with the Indian Space Research Organisation (ISRO) to develop a comprehensive geographic information system (GIS) energy map of India with the support of the government of India.

About:

The GIS map provides a holistic picture of all the energy resources of the country, enabling the visualization of energy installations such as conventional power plants, oil and gas wells, petroleum refineries, coal fields and coal blocks, district-wise data on renewable energy power plants, and renewable energy resource potential through 27 thematic layers.
The map attempts to identify and locate all primary and secondary sources of energy and their transportation/transmission networks to provide a comprehensive view of energy production and distribution in the country.

Key objectives:

It aimed at integrating energy data scattered across multiple organizations and to present it in a consolidated, visually appealing graphical manner.
It leverages the latest advancements in web-GIS technology and open-source software to make it interactive and user-friendly.
The Geospatial Energy Map of India will be useful in planning and making investment decisions.
It will also aid in disaster management using available energy assets.

Kerala Government plans to start an online platform to deliver products manufactured byKudumbashree and other micro, small and medium production units.

About:

Kudumbashree, the Kerala State Poverty Eradication Mission launched in 1998 aims to eradicate absolute poverty under the leadership of Local Self Governments.
It was conceived as a joint programme of Kerala and NABARD implemented through CommunityDevelopment Societies (CDSs) of Poor Women.
It is a community organization of Neighborhood Groups (NHGs) of women and has been recognized as an effective strategy for the empowerment of women in rural as well as urban areas.

India-USA-Israel-UAE have explored possibilities for joint infrastructure projects in the fields of transportation, technology, maritime security, economics and trade, as well as for additional joint projects.
The ministers decided to establish an international forum for economic cooperation to take forward their maiden dialogue. Informed sources said the grouping’s key focus is on joint economic projects.

Objective:

The new mini-lateral suggests India is now ready to move towards an integrated regional policy.
It demonstrates feasibility of a non-ideological engagement with the Middle East.
The forum will focus on non-military issues like trade, energy,environment and promoting public goods.
It will give more political and diplomatic space for the balancing act amidst the various fissures of the region over the decades.

Global rating agency Moody’s has upgraded the outlook on the Indian banking system from “Negative” to “Stable” on the back of stabilising asset quality and improved capital.
In a report titled “Banking system outlook- India: Stabilizing asset quality and improved capital drive outlook change to stable”, Moody (global credit rating agency) sees the deterioration of asset quality has moderated and the improvement in the operating environment will support the asset quality of banks.

Key highlights:

The level of problem loans for rated banks has moved down from 8.5 per cent in FY19 to 7.1 per cent in FY21.
India’s economy is expected to continue to recover in the next 12-18 months, with Gross Domestic Product (GDP) growing 9.3 per cent in FY22 and 7.9 per cent in the following year.
The pickup in economic activity will drive credit growth, which we expect to be 10 per cent to 13 per cent annually.
The capital ratios have risen across rated banks in the past year because most have issued new shares. The capital adequacy ratio of rated Indian banks as a pack improved from 9.9 per cent in FY19 to 11.1 per cent in FY21.
Public sector banks’ ability to raise equity capital from the market is particularly credit positive as it reduces their dependence on the government for capital.

Reserve managers can deal with the low yield environment by increasing the duration of their portfolios, investing in new asset classes, new markets and more active management of their gold stocks, as per the recommendations in an article in the Reserve Bank of India’s latest monthly bulletin.

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The RBI Bulletin October 2021 warrants for a relook at ways to enhance returns on Forex reserves without compromising on prudent investment principles of safety and liquidity.
Traditionally, dominated by Foreign Currency Assets (highly rated sovereign bonds of G10 nations),the Forex Reserve Managers (RBI in India) should look at new policy options such asLow Yield Environment andForex ReservesManagementIncreasing duration of portfolio.
Investment in new products/asset classes (Forex Swaps, Dual currency deposits, Equity Index Funds etc.).
Active management of Gold (Gold deposits, Gold ETFs, Gold Swaps, Investment) in new markets.

Even as the Centre investigates allegations that unauthorised genetically modified (GM) rice was exported to Europe, it is yet to decide on a research proposal from its own scientists which would allow plants to be genetically modified without the need for conventional transgenic technology.

Key highlights:

Scientists at the Indian Agricultural Research Institute are in the process of developing resilient and high-yield rice varieties using such gene editing techniques, which have already been approved by many countries, and they hope to have such rice varieties in the hands of the Indian farmers by 2024.
However, the proposal for Indian regulators to consider this technique as equivalent to conventional breeding methods, since it does not involve inserting any foreign DNA, has been pending with the Genetic Engineering Appraisal Committee for almost two years.
The IARI has previously worked on golden rice, a traditional GM variety which inserted genes from other organisms into the rice plant, but ended trials over five years ago due to agronomic issues.
The Institute has now moved to newer technologies such as Site Directed Nuclease (SDN) 1 and 2. They aim to bring precision and efficiency into the breeding process using gene editing tools such as CRISPR, whose developers won the Nobel Prize for Chemistry in 2020.