RBI has announced that Peer-to-peer lending (P2P) platforms will be treated as non-banking financial companies (NBFC) and will be regulated by it.
P2P lending is a form of crowd funding used to raise loans in an online platform which are paid back with interest.
Individuals or businesses can borrow money using an online platform which matches the lenders with borrowers.
P2P lending platforms are largely technology companies registered under the Companies Act that act as aggregators for lenders and borrowers.
The interest rate may be set by the platform or by mutual agreement between the borrower and the lender.
Sakhi
It is a one-stop centre for providing medical, legal and rehabilitation facilities for women subjected to any kind of violence.
These centres will be established across the country to provide integrated support and assistance under one roof both in private and public spaces in a phased manner.
Quantum computer
The Department of Science and Technology (DST) is planning to fund a project to develop quantum computers.
A quantum computer employs the principles of quantum mechanics to store information in ‘qubits’ instead of the typical binary bits of 1 and 0.
Circuits are designed in such a way that qubits work faster and can do intensive computing task much faster than other computers.
It solves the problem in the same way of computing physics which might never be possible on traditional computers.
Canada’s D-Wave Systems, is a pioneer in developing quantum computers.
UDAAN
The Cabinet Committee on Economic Affairs has approved the proposal of the Ministry of Home Affairs for extension of time period of Udaan Scheme till 31st December, 2018.
Initially the time period of Udaan was upto 2016-17.
It is a national integration scheme with the goal to mainstream J&K youth with rest of the country.
It provides exposure to the youth of J&K to corporate India along with skill enhancement and job opportunities.
Leading Corporate have partnered with National Skill Development Corporation (NSDC) under UDAAN.
Operation Sadbhavana and Operation Samaritan
These operations are carried out by Indian Army in Jammu & Kashmir and North East states respectively.
Under this, army undertakes various civic action programmes which aimed at winning hearts of the people and integration of the people with the nation.
Under operation sadbhavana, recently army sponsored educational and national integration tour for Jammu and Kashmir youths.
Measuring height of Mount Everest
The government of Nepal is finalizing a methodology to measure the height of Mount Everest.
Already there are three different measures, in which two are determined by Indian survey and one by China.
In 1856, the Royal Surveyor of India has measured the height as 8,840 metres and again in 1955, an Indian survey measured as 8,848 metres.
In 2005, China conducted its own survey and came up with a figure that is exactly between the two heights measured by the two Indian surveys.
China claimed the peak’s “rock height” that of naked rock, uncapped by snow is 8,844 m high, or 4 m less than the “snow height”.
Hunar Haat
Ministry of Minority Affairs is organizing Hunar Haat to provide market and opportunity to master artisans belonging to the Minority communities.
It is an exhibition of handicrafts, embroidery and art works and artisans will be provided free of cost stall, the arrangements for their transport and their daily expenses.
