MLCR
- The Marginal Cost of Funds-based Lending Rate (MCLR) refers to the minimum interest rate of a bank below which it cannot lend.
- The MCLR was introduced in April 2016, replacing the existing base rate system.
- Reserve Bank of India will link the base rate with the Marginal Cost of Funds based Lending Rates (MCLR).
- RBI decided to shift from base rate to MCLR because the rates based on marginal cost of funds are more sensitive to changes in the policy rates.
Operation Cactus
- In 1988 a group of Maldivians led by Abdullah Luthufi tried to overthrow then Maldivian Government.
- The attempt was a failure due to the intervention of the Indian Armed Forces.
- The operation was code named as Operation Cactus.
- INS Godavari and Betwa were used by the Indian Navy in the operation
The Great India Blog Train
- It is the Social Media Key Influencer campaign of Ministry of Tourism
- It involves the Bloggers across the world and they are invited to travel to destinations in the country on the Luxury Trains operating in different States.
- The objective of the campaign is to position luxury trains of India as a unique tourism product both in the domestic and overseas markets
Railway development Authority
- Rail Development Authority will help the Indian Railways take decisions on pricing of services, consumer interests, generating revenue and competition.
- Government has approved formation of a Rail Development Authority (RDA) comprising Chairman and three Members.
- The objective underlying RDA is to get expert advice/make informed decision on
- Pricing of services commensurate with costs.
- Suggest measures for enhancement of Non-Fare Revenue.
- Protection of consumer interests, by ensuring quality of service and cost optimization.
- Promoting competition, efficiency and economy.
- Other than the above-mentioned objectives the authority also deals with resource allocation, setting service benchmark etc.,
ENCORE
- The Eastern Naval Command Operational Readiness Exercise (ENCORE), Theatre Level Readiness and Operational Exercise concluded on the Eastern Seaboard by the Indian Navy and Indian Air Force aircrafts.
- The exercise was conducted in phases to test various facets of war-fighting capabilities of the combat units.
- The exercise was conducted in real time covering a vast expanse of Indian Ocean Region (IOR)
Minmata Convention on mercury
- The Union Cabinet approved the proposal for ratification of Minamata Convention on Mercury.
- The Convention protects the most vulnerable from the harmful effects of mercury and also protects the developmental space of developing countries
- The objective of the convention’s implementation to protect human health and environment from the anthropogenic emissions and releases of mercury and mercury compounds.
- The Convention is named after the Japanese city Minamata, as the city went through a devastating incident of mercury poisoning.
Source: PIB, The Hindu, Business Standard
