Prelim Bits 24-10-2017

Public Credit Registry

• RBI has constituted a High Level Task Force on Public Credit Registry (PCR) that can provide a roadmap for developing a powerful credit information system.
• PCR is an extensive central database of bank loans (credit information) that is accessible to all stakeholders.
• It captures credit data on all kinds of loans which will be helpful in improving assessment of credit risk by the banks, early detection of non-performing assets (NPAs), and to improve recovery of loans.
• It certifies the details of collaterals, can enable the writing of contracts that prevent over-pledging of collateral by a borrower.
• It will also help to prevent multiple financing against the same property.
• Initially, PCR will cover banks’ customers which can then be expanded to cover other financial institutions (NBFCs).
• It will be managed by a public authority like the central bank.
• It would help in enhancing efficiency of the credit market, increase financial inclusion, and improve ease of doing business and help control delinquencies.

IBSA Trust Fund Agreement

• The IBSA Dialogue Forum is an international tripartite grouping for promoting international cooperation among India, Brazil, and South Africa.
• It was formalized through the adoption of the "Brasilia Declaration" in 2003.
• It promotes the international poverty alleviation and social development with main focus being on equitable development.
• The countries have recently signed the IBSA Trust Fund Agreement that seeks to fight poverty in developing countries.
• Each country contributes USD 1 million annually to this fund which is managed by the UN Development Programme (UNDP).

United Nations Day

• The United Nations is an international organization founded in 1945 after the World War II.
• Its charter was signed in San Francisco on June 26, 1945 and came into existence on October 24, 1945 after 51 countries have signed the charter.
• With the ratification of the founding document by the majority of its signatories, including the five permanent members of the Security Council, the United Nations officially came into being.
• UN Day marks the anniversary of the entry into force in 1945 of the UN Charter.
• Since 1948, 24^th October has been celebrated as United Nations Day.
• It is headquartered in New York.
• It has 193 members and latest member joined was South Sudan.
• The Official Languages are Arabic, English, French, Chinese, Spanish, and Russian.
• The organs of UN are General Assembly, Security Council, Economic and Social Council, International court of Justice and Secretariat.

Pradhan Mantri Kaushal Kendra

• India's first Pradhan Mantri Kaushal Kendra (PMKK) for Skilling in Smart Cities was recently launched.
• It was established by National Skill Development Corporation (NSDC), in collaboration with New Delhi Municipal Council (NDMC).
• It aims to provide skill training for unemployed youth through its short-term training (STT) module and contribute to the capacity building of municipal employees through Recognition of Prior Learning (RPL) program.
• It signifies integration and convergence approach towards the Skill India Mission and the Smart City Mission.

Pradhan Mantri Kaushal VikasYojana

• It is an outcome based skill certification scheme implemented by National Skill Development Corporation (NSDC), an executive arm of Ministry of Skill Development and Entrepreneurship.
• The objective is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
• Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).
• Training and Assessment fees are completely paid by the Government.
• The Various components are short term training, recognition of prior learning, special projects, kaushal and rozgarmela, placement guidelines and monitoring guidelines.

Comet Rings

• NASA Scientists have spotted narrow dense rings of comets coming together to form massive planets.
• It is found on the outskirts of at least 3 distant solar systems with at least the size of a few Earths.
• Its mass is estimated based on the amount of light they reflect.
• The bright outer rings composed of comet like bodies at 75 to 200 astronomical units from their parent stars which is about 2 to 7 times the distance of Pluto from our own Sun.
• The composition of the material in these rings varies from ice - rich to ice- depleted but carbon rich.
• The scientists are especially intrigued by the red dust ring surrounding the planet “HR 4796A”, which shows unusually tight form for an infant solar system.

Indian Energy Exchange

• The first initial public offering (IPO) by a power exchange was recently launched by Indian Energy Exchange (IEX).
• IEX is India’s premier power trading platform.
• It provides an automated platform for physical delivery of electricity and enables efficient price discovery.
• It offers participants the opportunity to trade in a variety of energy products.
• The platform increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution.

Source: PIB, The Hindu, BusinessLine, Business Standard.