Daily Current Affairs :  04-12-2020

Table of Contents :

1. US- China Economic and Security Review Commission (UCESRC) report
2. Municipal bonds 
3. Government plans to Revamp Scholarship Schemes
4. Nuclear Magnetic Resonance (NMR)
5. Wastewater treatment,recycling system
6. International Association of Insurance supervisors(IAIS)
7. 40% Dedicated Freight Corridors (DFC)
8. CC TV's must in offices of CBI,ED,Police station :Supreme court(SC)
9. Deen Dayal upadhyaya grameen kaushalya yojana (DDU-GKY) Gains Momentum 

1.US- China Economic and Security Review Commission (UCESRC) report

• Report finds Chinese government had planned the clash with Indian troops in Galwan Valley in June, which resulted in the death of 20 Indian soldiers and unspecified Chinese casualties.
• Report also says the proximate cause of the clash appeared to be India's construction of a strategic access road to support troops stationed along the LAC.
• UCESRC was created by the US Congress in 2000 with the mandate of monitoring and submitting an annual report on national security implicationsof trade and economic ties between US and China.

Source: The Hindu

2.Municipal bonds 

• Recently, Municipal bonds issued by Lucknow Municipal Corporation were listed on the Bombay Stock Exchange (SSE}.
• municipal bonds are bonds issued by urban local bodies to raise money for financing specific projects such as infrastructure projects. They are regulated by SEBI.

To issue such bonds, municipalities must not have:

• Negative net worth in any of the three preceding financial years.
• Defaulted in any loan repayments in the last one year.

Source: The Hindu

3.Government plans to Revamp Scholarship Schemes

• It aims to ensure that cash benefit reaches the right student at the right time through an IT-enabled uniform system.
• At present,  different ministries have schemes for students belonging to socially and economically backward classes which include pre-matric, post-matric, and overseas scholarships.
• These schemes are run on a Centre-state partnership.
• The issue with these schemes: States either do not send the demand in time for the ministries to release funds or are unwilling to release their share.
• In both cases, scholarships do not reach meritorious students on time.

Source: The Hindu

4.Nuclear Magnetic Resonance (NMR)

• NMR spectroscopy is an analytical chemistry technique used in quality control by determining the purity of a sample.
• It allows the molecular structure of a material to be analyzed by observing and measuring the interaction of nuclear spins when placed in a powerful magnetic field.
• The advantages of NMR are that sample measurements are non-destructive and there is less sample preparation required. Fields of application include bio, foods, and chemistry, as well as new fields such as battery films.

Source: The Hindu

5.Wastewater treatment, recycling system

• It has been developed by Indian Institute of Science researchers.
• It is an efficient decentralized wastewater treatment and recycling system for rural areas.
• In this, the water that drains out of the washbasin and kitchen is treated and recycled after removing the oil and grease and used again for non-potable purposes such as toilet flushing and gardening.

Source: The Hindu

6.International Association of Insurance Supervisors(IAIS)

• Gujarat  International  Finance Tee (GIFT)  City regulator  International  Financial Services Centres Authority (IFSCA) has recently obtained membership of IAI S.
• IAIS, established in  1994, is a voluntary membership organization of insurance supervisors.
• It is the international standard·settlng body responsible for developing and assisting in the implementation of principles, standards, and other supporting material for the supervision of the insurance sector.

Source: The Hindu

7.40% Dedicated Freight Corridors (DFC)

• DFC project involves the construction of six freight corridors traversing the entire country (refer to infographics).
• DFC is a rail route created for freight (goods and commodity) transportation.
• Purpose of the project is to provide a safe and efficient freight transportation system.
• DFCCIL was established by the Centre in 2006 as a dedicated body to implement the project.
•  Freight corridor project of one of the largest railway infrastructure projects and is being implemented at a cost of 81,459 crores.

Benefits of DFC

• Reduce logistic cost which in turn would enhance the competitiveness of the Indian economy.
• At present, the logistic cost is about 14% GDP which is 30-40% higher than the global benchmarked logistics cost.
• India aims to bring down logistics cost to below 10% of GDP
• Boost to the industrial regions
• Help the Railways to regain the market share lost to private road transport over the years.
• Faster speed of freight movement which will allow freight trains to travel at 100 mph (current average is 23.6 kmph).
• Reduce congestion at various terminals and junctions thereby reducing air pollution.

Source: The Hindu

8.CC TV's must in offices of CBI, ED, Police station: Supreme court(SC)

• With the aim of preventing custodial torture, SC extended the ambit of its 2018 order and stated that not only police stations but all other agencies, with the power to make arrests and interrogate, must also have CCTVs and record ing devices installed on their premises.
•  In 2018 ordered the installation of CCTV cameras in police stations to check human rights abuses.
• Observation made by SC
• Victims of human right violation by investigating agencies have the right to get a copy of CCTV footage of interrogation.
• Also, victims have the right to approach the National/State Human  Rights Commission,
• Human Rights Court or Superintendent of Police or any other authority empowered to take cognizance of an offense.
• SC also ordered for setting up of State and District Level Oversight Committees.
• Earlier in 2018, SC asked the Central government to a set up a Central Oversight Body that would issue necessary directions to states and UTs to facilitate videography of crime scenes and compliance with other directions of SC.
• India has not ratified United Nation s Convention against torture and also has not enacted a national law against torture.

Source: The Hindu

9.Deen Dayal Upadhyaya Grameen kaushalya yojana (DDU-GKY) Gains Momentum 

• Out of 10.78 lakh, rural youths trained under DDU-GKY over 58% have got placement.
• In Kerala, Maharashtra, Haryana, and Karnataka more than 50% of the trained youth have got placement.
• The overall target is to train and get placement for 28,82 677 rural youth by March 2022.
• DDU-GKY, a placement-linked skill development program under National Rural L.ivelihoods Mission, was launched in 2014 by the Ministry of Rural Development.
• It is tasked with dual objectives of times of adding diversity to incomes of rural poor families and caters to career aspirations of rural youth (15 -35 years) from poor families.
• There Is a mandatory coverage of socially disadvantaged groups,l.e for SC/ST-50%, minorities- 15%,and women 33%.

Need for Skill development

• National Policy for Skill Development & Entrepreneurship (NPSDE) 2015 has identified the skills gap of 109 73 million in 24 key sectors by 2022.
• FICCI study identified a shortage of over 47 million skilled workers across the globe by 2020.
• India has formally trained just 4.69 % of the total workforce (15-59 years of age) of about 487 million people.

Source: The Hindu

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