Daily Factly-17-06-2020

What is Daily Factly?

 Daily Factly is NDI-National Defence Institute initiative to help student in the process of preparation for UPSC, CDS, CAPF , NDA, AFCAT, INET, SSC and other State-level exams.Complemented with thorough preparation and revision of all subjects and mock tests,Daily Factly would undoubtedly help you gain those extra 10-12 marks when you have exhausted the limits of your knowledge. the real test is close.We hope this helps you.

Micro-Credit

• Micro-credit refers to the granting of very small loans to impoverished borrowers, with the aim of enabling the borrowers to use that capital to become self-employed and strengthen their businesses. Loans given as micro-credit are often given to people who may lack collateral, credit history, or a steady source of income. The core idea of micro-credit is that a small loan will provide access to the larger economy to people who typically live outside the scope of the institutions on which the mainstream economy rests.

Chit fund

• A chit fund is a type of saving scheme where a specified number of subscribers contribute payments in installment over a defined period. Each subscriber is entitled to a prize amount determined by lot, auction or tender depending on the nature of the chit fund. Typically, the prize amount is the entire pool of contribution minus a discount which is redistributed to subscribers as a dividend.

Coal India Ltd

• Coal India Ltd. was formed in the year 1975. Before 1975, the Indian coal industry was plagued with a number of issues like low productivity, lack of strategic planning, lack of funds, low-grade technology, and lack of regulation. Under government monopoly, coal production by Coal India Ltd. increased steadily.

Ox-bow lake

• The ox-bow lake is a crescent-shaped lake formed when a wide U-shaped meander of a river is cut off from the main stem of the river, resulting in a separate body of water.

Foreign Contribution Regulation Act (FCRA)

• Foreign Contribution Regulation Act (FCRA) was introduced in 2010, to consolidate the law to regulate the acceptance and utilization of foreign contribution by individuals or associations and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental.

Dispute Settlement System (DSS)

• Dispute Settlement System (DSS) is a mechanism to resolve trade disputes between member states. It utilizes both political negotiation and adjudication for dispute resolution. The Uruguay Round negotiations (1986- 1994) culminated in the creation of the DSS and the adoption of the Dispute Settlement Understanding (DSU) to govern trade disputes between member states.

New Southern Policy (NSP)

• New Southern Policy (NSP) is part of the South Korean government’s broader strategy of promoting a ‘Northeast Asia Plus Community for Responsibility-sharing’ (NEAPC). The New Southern Policy intends to build stronger economic linkages with countries to Korea’s south in Southeast Asia and India. The New Northern Policy, meanwhile, focuses on countries to Korea’s north including Russia, Mongolia and Central Asian countries.

Foot and Mouth Disease (FMD)

• The Foot and Mouth Disease (FMD) is a highly infectious viral disease of cattle, swine, sheep, goats, and other cloven-hooved ruminants. FMD is generally not fatal in adult animals but leaves them severely weakened, and results in a drastically reduced production of milk (milk loss is up to 100% for 4-6 months).

Brucellosis

• Brucellosis is a zoonotic disease caused due to bacteria “Brucella” that causes early abortions in animals and prevents the addition of new calves to the animal population. It also spreads from animals to people due to eating of raw or unpasteurized dairy products or either through the air or direct contact with infected animals.

Multimodal Transport

• Multimodal Transport is the movement of goods from point A to point B using different modes of transport by a single transport operator. It is an effective mode in a large and diverse country like India where an end to end delivery is a humongous task. The Multimodal Transport Act was passed by the Indian Parliament in 1993 to establish a standardized regime for the multimodal transport operators (MTOs).