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Prelim Bits 24-08-2018

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August 24, 2018

National Logistics Portal

  • The portal is being developed by the Ministry of Commerce and Industry.
  • It is a digital platform to bring all stakeholders in the logistics sector on board to cut down transaction cost and time for businesses.
  • It will act as a single window online market place for trade.
  • Stakeholders like traders, manufacturers, logistics service providers, infrastructure providers, financial services, government departments and groups and associations will all be on one platform.
  • There are four main components of the portal - logistics e-market place,  logistics certification platform, integrated regulatory platform and  banking and financial services platform.
  • The portal is developed to achieve the government’s target of reducing the logistics cost from the present 14% of GDP to less than 10% by 2022.

International Buddhist Conclave 2018

  • The 6th International Buddhist conclave was recently inaugurated in New Delhi by the President.
  • The conclave aims to showcase the Buddhist heritage in India and boost tourism in the country.
  • Delegates from 29 countries are participating in the conclave.
  • It has been organised by the Ministry of Tourism in collaboration with State Governments of Maharashtra, Bihar and Uttar Pradesh.
  • The conclave is going to be held in New Delhi, Ajanta (Maharashtra).
  • Site visits to Rajgir, Nalanda and Bodhgaya (Bihar) and Sarnath (Uttar Pradesh) will also be conducted.
  • The earlier conclaves were held biennially in Bodhgaya &
  1. New Delhi in 2004
  2. Nalanda in 2010
  3. Varanasi in 2012 and 2014
  4. Sarnath and Varanasi in 2016.

5G Panel

  • A steering committee headed by Paulraj was formed by the government last year to make fifth-generation (5G) telecommunication services successful in India.
  • Its mandate is to formulate a road map for 5G services in India.
  • The committee has revealed that the advent of next-generation wireless services may unleash USD 1 trillion economic opportunity for the country.
  • Under the spectrum policy, the committee has suggested that India’s spectrum allocation for public wireless services should be enhanced significantly.
  • It has also asked for setting up a Standing Committee with five-year term to advise on building spectrum technology infrastructure.
  • While the US is likely to deploy 5G services later this year, or in the first quarter of 2019, the India rollout may begin by 2020.

Bond-i

  • Bond-i, an acronym standing for Blockchain Offered New Debt Instrument is the world’s first public bond created and managed using only blockchain.
  • It is launched by World Bank and the Commonwealth Bank of Australia is the sole manager of the deal.
  • The total worth of the bond is 100 million Australian Dollars.
  • It is viewed as an initial step in moving bond sales away from manual processes towards faster and cheaper automation.
  • World Bank's bonds hold an AAA rating, creating a new bond markets and also engineers new methods to sell and trade securities.
  • Blockchain technology refers to the distributed ledger technology that securely records all transactions made on the chain.
  • This can help simplify raising capital and trading securities, improve operational efficiencies and enhance regulatory oversight,

Aeolus Satellite

 

Source: BusinessLine, PIB

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