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Prelim Bits 08-02-2018

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February 08, 2018

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
  1. Pricing of services commensurate with costs.
  2. Suggest measures for enhancement of Non-Fare Revenue.
  3. Protection of consumer interests, by ensuring quality of service and cost optimization.
  4. 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

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