Rivers : నదుల అనుసంధానంపై కేంద్రంతో మధ్యప్రదేశ్‌, రాజస్థాన్‌ ఒప్పందం

• కేంద్ర ప్రభుత్వం ప్రతిష్ఠాత్మకంగా చేపట్టిన నదుల అనుసంధాన ప్రాజెక్టు పురోగతిలో భాగంగా కేంద్రంతో మధ్యప్రదేశ్‌, రాజస్థాన్‌ రాష్ట్రాలు ఒప్పందం కుదుర్చుకున్నాయి. 
• పర్బతి-కాళిసింధ్‌-చంబల్‌ నదులను ఈశాన్య రాజస్థాన్‌ కెనాల్‌ ప్రాజెక్టులకు అనుసంధానం చేసే ఈ ప్రాజెక్టుతో ఈ రెండు రాష్ట్రాల్లోని 13 జిల్లాలకు తాగునీటి సౌకర్యం, 5.6 లక్షల హెక్టార్ల భూమికి నీటి లభ్యత చేకూరనుంది. కేంద్రం దీనిపై సమగ్ర ప్రాజెక్టు నివేదిక (డీపీఆర్‌)ను తయారు చేయించింది. 
• 2024 జనవరి 28న దిల్లీలో జరిగిన కార్యక్రమంలో కేంద్ర జలశక్తి మంత్రిత్వ శాఖ మంత్రి గజేంద్రసింగ్‌ షెకావత్‌, నదుల అనుసంధాన ప్రాజెక్టు టాస్క్‌ఫోర్స్‌ ఛైర్మన్‌ వెదిరె శ్రీరాం ఆధ్వర్యంలో మధ్యప్రదేశ్‌ ముఖ్యమంత్రి మోహన్‌ యాదవ్‌, రాజస్థాన్‌ సీఎం భజన్‌లాల్‌ శర్మ డీపీఆర్‌కు అంగీకారం తెలిపిన అనంతరం ఒప్పంద పత్రాలపై సంతకాలు చేశారు.

Supreme Court : సుప్రీంకోర్టు వజ్రోత్సవాల ప్రారంభం

• సుప్రీంకోర్టు వజ్రోత్సవాలను ప్రధాని నరేంద్రమోదీ 2024 జనవరి 28న ఢల్లీిలో ప్రారంభించారు. ఈ సందర్భంగా సుప్రీంకోర్టు నూతన వెబ్‌సైట్‌తోపాటు, డిజిటల్‌ రికార్డులు, డిజిటల్‌ కోర్ట్స్‌-2.0ను ఆవిష్కరించారు.
• ప్రస్తుతం న్యాయ వ్యవస్థకు ఇబ్బందికరంగా మారిన 4 అంశాలపై దృష్టి పెట్టాల్సిన అవసరముందని ప్రధాన న్యాయమూర్తి జస్టిస్‌ డి.వై.చంద్రచూడ్‌ పేర్కొన్నారు. ‘అవి 1. కేసుల వాయిదాల నుంచి బయటపడి న్యాయ స్థానాల్లో వృత్తి నైపుణ్య సంస్కృతిని నెలకొల్పడం. 2. న్యాయస్థానాల తీర్పులు జాప్యమయ్యేలా చేస్తూ, న్యాయ వ్యవస్థలను శక్తిమంతమైన వ్యక్తులు తమ గుప్పిట్లో ఉంచుకునే విధంగా వాదనలు సుదీర్ఘంగా సాగకుండా చూడటం. 3. తొలి తరం న్యాయవాదులకూ సమాన అవకాశాలు కల్పించడం. 4. సుదీర్ఘ సెలవులపై చర్చించి ప్రత్యామ్నాయంగా న్యాయవాదులు, న్యాయమూర్తులకు అనువైన సమయంలో పని చేసే అంశంపై ఒక నిర్ణయానికి రావడం’ అని పేర్కొన్నారు. 
• భారత సర్వోన్నత న్యాయస్థానం 75వ పడిలోకి అడుగుపెట్టింది. 1950 జనవరి 28న సుప్రీంకోర్టు ప్రారంభమైన సందర్భాన్ని పురస్కరించుకుని 2024 జనవరి 28న ప్రధాన మంత్రి నరేంద్రమోదీ న్యాయస్థాన వజ్రోత్సవాలను ప్రారంభించారు. 

Man ki Baat : ‘మన్‌ కీ బాత్‌’2024 జనవరి 28

• అయోధ్య రామాలయంలో బాలరాముడి ప్రతిష్ఠ దేశంలో కోట్ల మంది ప్రజలను ఏకం చేసిందని ప్రధాని మోదీ పేర్కొన్నారు. ఆ సమయంలో దేశ సామూహిక బలం వ్యక్తమైందని అన్నారు. 2024లో తొలి మన్‌ కీ బాత్‌ కార్యక్రమంలో మోదీ 2024 జనవరి 28న మాట్లాడారు. 
• రామరాజ్యంలో సాగిన పరిపాలనా విధానమే మన దేశ రాజ్యాంగ రూపకర్తలకు స్ఫూర్తిగా నిలిచిందన్నారు. ఈ కారణంగానే అయోధ్యలో రాముడి ప్రతిష్ఠ జరిగిన ఈ నెల 22న ‘దేవ్‌ టూ దేశ్‌’, ‘రామ్‌ టూ రాష్ట్ర’ అని పేర్కొన్నట్లు వివరించారు. 
• ‘‘ప్రతి ఒక్కరి మనోభావాలు ఒకే రకం. ప్రతి ఒక్కరి భక్తి కూడా అంతే. ప్రతి నోటి వెంట రామ నామమే మోగింది. అందరి మనస్సుల్లో ఉన్నది రాముడే. ప్రస్తుతం చాలా మంది రామ భజనలు చేస్తున్నారు. రాముడికి అంకితమవుతున్నారు. 
• ఈ నెల 22న రాత్రి దేశమంతా రామజ్యోతిని వెలిగించి దీపావళిని జరుపుకొంది. ఈ సందర్భంగా దేశ సమష్టి శక్తి ప్రకటితమైంది. అదే అభివృద్ధి చెందిన భారత్‌ ప్రతిజ్ఞకు ఆధారం. ఆ శక్తే దేశ పురోగతిని నూతన శిఖరాలకు చేరుస్తుంది’’ అని మోదీ పేర్కొన్నారు. 
• తన ప్రసంగంలో మోదీ పద్మ అవార్డులను ప్రస్తావిస్తూ.. తాజాగా ఈ పురస్కారాలను పొందినవారంతా అట్టడుగుస్థాయిలో గొప్ప పనులు సాధించేందుకు ప్రచారానికి దూరంగా ఉంటున్నవారేనని వెల్లడిరచారు. రిపబ్లిక్‌ డే ప్రదర్శనలో 20 బృందాలు పాల్గొంటే వాటిలో 11 మహిళలవేనంటూ ప్రస్తుతించారు. కొంతమంది వ్యక్తులు తమ మరణాంతరం కూడా సమాజం పట్ల బాధ్యతలను పూర్తి చేస్తున్నారంటూ అవయవదాతల దాతృత్వాన్ని  ప్రధాని మోదీ శ్లాఘించారు.

India’s longest ropeway service opened in Guwahati over Brahmaputra

 

Northeast Indian city, Guwahati has earned the longest river crossing ropeway in India across the Brahmaputra river. The project has been completed with an enormous effort of 11 years.

About the ropeway

• It was installed by Kolkata-based Samir Damodar Ropeways.
• The 1.8-kilometer long ropeway linked North Guwahati to Guwahati City.
• The carrying capacity of the ropeway is 31, including 1 Operator.
• It has been designed according to the relevant Indian and international standards.

What are the benefits of the ropeway?

• It will reduce the travel time to cross the river which usually takes a long time using ferries.
• It will ensure an uninterrupted transportation facility. Previously the rise in the river caused impediments in the transport as well as more prone to accidents.
• A total of about 250 persons per hour would be able to cross the river.
• The newly launched ropeway will boost tourism.
• The ropeway provides a bird’s eye view of the Urvashi Island and Umananda Temple on Peacock Island.

Some facts about the ropeway system in India

• Gulmarg Gondola is the second-highest cable car in the world and the highest and longest cable car in Asia.
• Pavagadh Gujarat is the third busiest ropeway of India.
• Haridwar Uttarakhand is the first city of India having two passenger ropeways.

Mansa Devi ropeways service is the busiest ropeway of India.

What is the special OMO which has been launched by the RBI? How does it impact the economy?

 The Reserve Bank of India recently declared that it is going to conduct simultaneous purchase and sale activities of government securities under the Open Market Operations for an amount of Rs 20,000 crore in two channels.

Open Market Operation (OMO)

• An open market operation (OMO) is the activity of the central bank that is associated with giving or taking liquidity in its currency to the banks or from the banks. 
• The central bank, (generally RBI In the case of India) can either buy or sell government bonds in the open market.

Impacts on the economy

• OMO help to regulate the money supply in the economy.
• Purchasing government securities injects the money supply in the economy.
• Selling government securities flows out liquidity from the system.
• RBI conducts the Open Market Operations through commercial banks.
• OMO reduces the impact of liquidity on the interest rate and inflation rate.

RBI decided to buy government securities including
6.18% maturing on 4th November 2024.
8.24% maturing on 15th February 2027.
5.79% maturing on 11th May 2030.
7.95%maturing on 28th August 2032.

The purchase and sale operation of government securities at the same time includes purchasing government securities of longer maturities and selling the same amounts of securities of shorter maturities.

Atma Nirbhar Bharat, to get a boost with ‘Swadeshi Microprocessor Challenge

 The ministry of electronics and IT of the government of India launched a contest titled ‘Swadeshi Microprocessor Challenge’ with the vision of going one step further towards self-reliance or “Atma Nirbhar Bharat”. In the launching event, Union electronics and information technology minister Ravi Shankar Prasad stated, the contest is going to provide impetus to the Start-up ecosystem, innovation as well as in the field of research in India.

Swadeshi Microprocessor Challenge

The initiative aims at designing microprocessors for the development of various technological products. The challenge not only seeks innovative solutions for the future requirements of different sectors but it should also have the ability to overcome the domestic as well as global challenges regarding security, technological glitch, and import dependency.

• Students from all levels and startup companies can participate in the challenge.
• Prize money of total Rs. 4.30 crore will be provided by the government in the following way.
• Total of 1 crore to 100 semi-finalists. For 25 finalists, a total of 1 crore and Rs. 2.3 crore for the top 10 teams.
• Top 10 finalists will also have incubation support for 1 year.

‘Shakti’ and ‘Vega’:  ‘Shakti’ and ‘Vega’ are the names of two microprocessors,  indigenously developed by the Indian Institute of Technology,  Madras, and Center for Development of Advanced Computing (CDAC).

Atma Nirbhar app challenge: Previously, the Government of India had launched this program to identify the best designed Indian Apps that are being used by citizens. A total of 24 mobile apps won the challenges.

USD 1 billion loan approved by ADB for 2025 visioned Delhi-Meerut Rapid transit system

 

Manila based Asian Development Bank (ADB) approved a total of 1 billion  USD  loan to provide assistance for the construction of modern, high-speed Delhi-Meerut Regional Rapid Transit System. ADB’S finance will include the construction of railway tracks, station buildings, maintenance facilities, and traction, and power supply.

Aim

• The project aims at smoothening regional connectivity by establishing transit options across the densely populated sectors of the National Capital Region connecting Delhi to Meerut in the state of Uttar Pradesh.

What is the Delhi-Meerut Rapid transit system?

• Delhi-Meerut RRTS is an 82-kilometer long semi high-speed rail corridor that connects Delhi and Meerut via Ghaziabad. 
• The network is the first of three priority rail corridors, planned under Phase-I of the RRTS project of NCR Transport Corporation.

What are the advanced features of the RRTS?

• A high technology signaling system
• Special constructional design set up for interchange with other modes transport
• Special arrangement for women, children, elderly people, and differently-abled people

Long term objectives

• The project will ensure safe, reliable, and uninterrupted travel considering the factor of air pollution and other environmental impacts.

Asian Development Bank

• ADB is a regional development bank that was established in 1966 with the objective of social development including poverty alleviation through economic growth, environmentally sustainable growth, and regional integration. 
• It is headquartered in Manila, Philippines.

RBI formulated new regulations framework for Umbrella entity for retail payments

 The Reserve Bank of India formulated a new framework for the establishment of a new umbrella entity for retail payments. According to RBI, the entity will be handed over the responsibility of setting up, managing, and operating new payment systems in the retail space following the same way as the National Payments Corporation of India (NPCI) does.

• The guideline of RBI says such an entity must have a minimum paid-up capital of Rs 500 crore. 
• The entity will be registered under  ‘for-profit’ or a Section 8 Company as per the Companies Act, 2013.

What is the Companies Act 2013?

• It is an Act of the Parliament of India to regulate the incorporation, responsibilities, directors, dissolution of a company. 
• It has 29 chapters that contain 470 sections. Section 8 Company is registered for charitable or non-profit purposes.

What is retail payment?

• Retail payments are the transactions between consumers and businesses and public authorities like store payments, online payment.

NPCI

• National Payments Corporation of India is a non-profit organization that is registered under section 8 of the Companies Act 2013. 
• It is the umbrella organization that looks after the matter of retail payments and settlement systems in India.

Prime Minister e-Inaugurated 750 MW Asia’s Largest Solar Power Plant in Rewa

Through video conferencing, Prime Minister of India Narendra Modi has inaugurated the 750 MW Rewa Ultra Mega Solar Plant on 10^th July 2020. To date, the 750 MW Rewa Ultra Mega Solar Power Project is the largest single-site solar power projects in India and also in Asia.

Rewa Ultra Mega Solar Power Project

• The Rewa Ultra Mega Solar Power Project is located in Gurh Tehsil of Madhya Pradesh’s Rewa district. 
• It is spread over 1,590 acres of land.  
• For the successful implementation of the Power Project, a Joint Venture Company between Solar Energy Corporation of India (SECI) and Madhya Pradesh Urja Vikash Nigam Limited (MPUVNL) was set up. 
• The name of the Joint Venture Company is Rewa Ultra Mega Solar Limited (RUMSL).
• The entire cost of the Solar Power Project is worth around Rs 4000 crore. 
• International Finance Corporation (IFC) is the transaction adviser for the Solar Power Project.  
• On 31^st January 2018, the World Bank Group has approved a loan of USD 30 million (approx Rs 225 crore) for the internal infrastructure of the project.
• Delhi Metro Rail Corporation is an institutional customer of the 750 MW Rewa Ultra Mega Solar Power Project. 
• 24 percent of the power generated by the Rewa Ultra Mega Solar Plant will be supplied to Delhi Metro.

Uttar Pradesh ‘Startup Policy 2020’ gets Cabinet Approval

For making the State more conducive for Startups, the State Cabinet of the Uttar Pradesh Government has given its approval to an independent and comprehensive ‘Startup Policy 2020’ on 8^th July 2020. Until the Startup Policy 2020, Uttar Pradesh did not have an independent and comprehensive Policy for the Startups in the state, policy for Startups was governed under the- Uttar Pradesh Information Technology and Startup Policy 2017.

The Uttar Pradesh ‘Startup Policy’ was prepared by the State Government with the help of NITI Aayog back in 2018. The Policy got the approval of the State Cabinet on 8^th July 2020.

Startup Policy 2020

• From the date of notification by the State Government, the Startup Policy 2020 will be applicable for a period of 5 years. 
• The aim will be of the corporatization of more than 10,000 startups across the state in these 5 years.
• For achieving the aim, 100 incubators will be set up across all the 75 districts of the state by making sure at least one incubator in a district has been set up. 
• As per Government estimates, this Startup Policy will generate 50,000 direct and 1,00,000 indirect jobs across the state.
• Other Major Goals under the Policy are:  To establish the largest incubator of India in the state and also to establish the first dedicated Incubator for the Defence Sector in the country.

Startup Fund

• On 20^th May 2020, Chief Minister of Uttar Pradesh Yogi Adityanath had launched the Uttar Pradesh ‘Startup Fund’. 
• This Startup Fund will be managed by SIDBI (Small Industries Development Bank of India).

Six Strategic Bridges in Jammu & Kashmir e-Inaugurated by Defence Minister

On 9^th July 2020, Defence Minister Rajnath Singh has e-Inaugurated 6 strategic bridges in sensitive border areas of Jammu & Kashmir. All the six bridges with strategic importance along the International Border and Line of Control were constructed in record time by working in extremely difficult weather conditions and terrains by the Border Roads Organisation (BRO).

About the Bridges

• 2 bridges out of the 6 are on the Tarnah Nallah of the Kathua district
• In Jammu district’s Akhnoor-Pallanwala road, 4 bridges are located
• All these 6 bridges were constructed by Borders Roads Organisation under Project Sampark
• The length of the 6 bridges ranges from a minimum of 30 metres to a maximum of 300 metres
• Total cost for the construction of the 6 bridges was Rs 43 crore
• The 6 bridges are constructed by focusing on the strategic importance of the region as all these bridges will help in facilitating the movement of the Indian Armed Forces

Tarnah Bridge

• Two Bridges out of the six have been constructed at Tarnah Nallah of Kathua district. 
• Out of these 2 bridges, one bridge is 160 metres (named Tarnah I bridge) long while the other is 300 metres (named as Tarnah II bridge) long.
• Tarnah I bridge of 160 metres is on the old Samba Kathua Road. Tarnah II bridge of 300 metres is on Jammu-Kathua National Highway.

Border Roads Organisation (BRO)

• The Former and First Prime Minister of India Jawaharlal Nehru is credited as the founder of the Border Roads Organisation (BRO). 
• It is headquartered in New Delhi and was founded on 7^th May 1960.
• At present, BRO operates under 18 projects in the country. 
• It maintains across 32,885 Kilometers of road and more than 12,200 meters of permanent bridges across the country. 
• In the last two years, BRO has constructed around 5,800 metres of permanent bridges across the country.

Bhutan: Boundary with China hasn’t been Demarcated, under Negotiation with China

The Foreign Ministry of the People’s Republic of China had claimed last week that their boundary with Bhutan has never been delimited and there are long-standing disputes between the two countries in eastern, central and western sections.

The Royal Bhutanese Embassy in India has clarified China’s claim on 7^th July 2020 that the boundary talks between Bhutan and China is under negotiation and hasn’t been demarcated yet. Further Bhutanese Embassy has also stated that 24 rounds of ministerial-level talks have been conducted to date for demarcating the boundary between the two countries, the 25^th round of talks was delayed due to the COVID-19 pandemic.

Background

• On June 2^nd, 2020, during the 58^th meeting of the U.N. Development Programme’s Global Environment Facility (GEF), China objected to the funding for the development of Sakteng Wildlife Sanctuary by claiming the area to a disputed region between Bhutan and China. 
• Bhutan denied the claims of China by stating the Wildlife Sanctuary is an integral and sovereign territory of Bhutan.
• Sakteng Wildlife Sanctuary comes under Trashigang Dzongkhag district in Eastern Bhutan. 
• The Trashigang Dzongkhag district is the bordering district of Bhutan with India’ Arunachal Pradesh.

China’s Claim in Sakteng Wildlife Sanctuary is to pressurize India

• Between 1984 to 2016, in a total of 24 boundary talks between Bhutan and China, there are no records of talks regarding the Trashigang Dzongkhag district or the Eastern part of Bhutan as a disputed area, neither China had claimed the any of the Eastern regions of Bhutan in the past at any international forum or during its talks with Bhutan.
• China does not have a boundary with the Trashigang Dzongkhag District of Bhutan, its sudden claim in an international forum is clearly meant to target India.

State Finance Commission of Odisha Recommends Rs 23,848 crore for PRIs and ULBs in the state

Over the period of next six financial year (2020-21 to 2025-26), an amount of Rs 23,848 crore for the Panchayati Raj Institutions (PRIs) and Urban Local Bodies (ULBs) in the state of Odisha has been recommended by the 5^th State Finance Commission of Odisha on 7^th July 2020.

• These funds allocated will be for strengthening the ULBs and PRIs in the state financially so that various developmental projects and maintenance of existing assets can be taken up by these institutes and bodies.
• Projects on which the funds will be invested by PRIs and ULBs: drainage networks, sanitation, drinking water, solid waste management, maintenance of public Health Sub Centers and Anganwadis, construction of roads, etc.

Breakdown of the Rs 23,848 crore funds

• Rs 15,715.60 crore for Panchayat Raj Institutions
• Rs 8,132.52 crore for Urban Local Bodies
• These funds will be transferred directly into the bank accounts of Panchayati Raj Institutions (Gram Panchayats, Panchayat Samitis, and Zilla Parishads) by using ‘PRIA Soft’- Panchayati Raj Institutions Accounting Software. PRIA Soft for the fund transfer will be integrated with the IFMS- Integrated Financial Management System.
• This Funds to be transferred in two tranches in a financial year: The first tranche will be released in the months on May-June while in the month of October-November the second tranche will be released. 
• For the second tranche to be released, the ULBs and PRIs will have to complete 30 percent of the work they had taken up under the first tranche provided in the financial year.

Unemployment Rate fell to 10.9 % in June from 23.5 % in May 2020

With Unlock 1 from 8^th June 2020, economic activities have resumed in the country as a result of which after two months the unemployment rate has fallen significantly. As per the data for the month of June 2020 released by the Centre for Monitoring Indian Economy (CMIE), the unemployment rate in June 2020 was 10.9 percent in India (Urban-12.02 % and Rural- 10.52%).

• The unemployment rate reached an all-time high of 23.52 percent in the country in the month of April due to the nationwide lockdown. 
• It remained similar in May 2020 with 23.48 percent. 
• But with the significant fall in June 2020 and the GST collection for June 2020 reaching 91 percent of the GST collection in June 2019, it can be suggested that the worst for the Indian economy has passed for now.
• With Unlock 2 beginning on 1^st July 2020, it can be expected that the Unemployment Rate can further normalize during the month.

Unemployment Rate in India has continuously declined

• As per data by CMIE, the unemployment rate in India on 8^th June was 21.33 percent. 
• Since then, this rate has declined every day.

State-wise Unemployment Rate in June 2020

• Assam with 0.6 percent unemployment had the lowest unemployment rate in the country in the month of June 2020, while Haryana with 33.6 percent had the highest unemployment rate in June 2020 among all the states in the country.

Centralized System of Stamp Duty collection comes into effect from 1st July 2020

Through Finance Act 2019, amendments were brought to the Indian Stamp Act, 1899. The amendments made comes into effect from 1^st July 2020 onwards. These amendments were made for building a pan-India securities market and to boost Ease of Doing Business.

About the Amendments

• For building a pan-India securities market, a centralized system of stamp duty with a unified rate has been brought under the amendments. 
• A uniform stamp duty across all the states will be imposed for all financial securities transactions. 
• For stock exchange, duty on the transaction of securities will be deposited to the Central Government. 
• As per the legal and institutional mechanism, the stamp duty is collected by the State Government, under the uniformity, the Central Government will deposit it to the State Government based on the place from where the trade took place.
• For other financial securities transactions (non-stock exchange), depositories will collect stamp duties on behalf of the State Government.
• For Transfer and reissue of debentures, the rate of duty proposed under the unified system is 0.0001 percent. 
• The rate of duty would vary for financial securities transactions related to the stock exchange or derivate products such as Mutual Funds etc in between 0.0005 percent to 0.015 percent

Estimated Rs 1,48,938 crore of food grains and pulses will be distributed from April to November 2020

The Department of Food and Public Distribution has estimated that food grains (Rice and Wheat) and pulses worth Rs 1,48,938 crore will be distributed under the Pradhan Mantri Garib Kalyan Ann Yojana in the period between 8 months from April to November 2020.

Breakdown of the Estimation

• The estimations were made based on Targeted Public Distribution System (TPDS) for the previous three months April to June 2020 of the scheme. 
• Under the Yojana, 5 Kg of Rice/Wheat is provided for free to each member of the beneficiary family per month, also 1 Kg of pulses is provided to each beneficiary family per month.
• Estimations made suggests that a total of 32 million tonnes of foodgrains worth Rs 1,22,829 crores will be provided from April to November 2020. 
• An estimate of approx Rs 11,800 crore of Pulses will be distributed in total during the April to November 2020 period.
• Apart from the above costs, Rs 3109.52 crores for distribution of foodgrains to migrant labourers in the months of April and May 2020 and Rs 11,200 crore for Central Issue Price under the National Food Security Act from April to November 2020 was been included in the estimation.

Extension of Pradhan Mantri Garib Kalyan Ann Yojana

• Extension of Pradhan Mantri Garib Kalyan Ann  Yojana was announced on 30^th June 2020 while addressing the nation by Prime Minister Narendra Modi. 
• The Yojana that commenced in the month of April 2020 has provided free ration to more than 80 crore people across the country in the last 3 months.  
• The Prime Minister announced the extension for a period of another 5 months until November 2020.

RBI to conduct Special OMOs on 2nd July to Pump up Liquidity

On 29^th June 2020, the Reserve Bank of India (RBI) has announced that it will be conducting a special Open Market Operations (OMOs) on 2^nd July 2020. The Open Market Operations was announced after reviewing the market conditions and evolving liquidity situations in banks. Through this special Open Market Operations, the aim will be to pump up liquidity in the financial system of the country.

About the Special Open Market Operations

• Government Securities worth Rs 10,000 crore will be purchased and sold simultaneously during the special Open Market Operations.
• At first, the Reserve Bank of India will be selling short term government securities worth Rs 10,000 crore that is maturing in between 15^th October 2020 to 29^th April 2021.
• Then it will be purchasing new long term government securities worth Rs 10,000 crore that will have a maturity period between May 2027 to 5th December 2033.
• Such operations were simultaneous selling and purchase of government securities are conducted by the Central Bank of the country are known as Operation Twist. 
• This will be the second such operation in this financial year to be conducted by the Reserve Bank of India. 
• The first Operation Twist of this financial year was conducted on 27^th April 2020 of Rs 10,000 crore.

Delhi Government to set up ‘Plasma Bank’ at ILBS, the First Plasma Bank in India

To treat COVID-19 patients, on 29th June 2020 Delhi’s Chief Minister Arvind Kejriwal was announced that a ‘Plasma Bank’ will be set up at the National Capital in the next two days. The Plasma Bank will be set up at the Institute of Liver and Biliary Sciences (ILBS).

At the Delhi Government’s Lok Nayak Jai Prakash Narayan Hospital, 35 people have been administered with Plasma Therapy out of which 34 have survived. In order to meet the demand of Plasma, the Chief Minister has urged cured COVID-19 patients to come forward and donate plasma.

Plasma Therapy

• A person who has recovered successfully from the COVID-19 infection can donate his/her plasma. 
• In the case of COVID-19, Convalescent Plasma is used to transfer antibodies to the patient suffering from the COVID-19 virus. 
• This helps the patient’s body to develop similar antibodies for fighting the COVID-19 virus.
• Trials with Plasma Therapy conducted to date have shown positive results. 
• The patients suffering from the virus at the second stage have either a decline in oxygen levels or the respiration levels have increased. 
• In both cases when the patient was given Plasma therapy, the levels have shown improvement.
• Plasma donation does not cause any weakness in an individual. 
• A person can donate plasma again in a gap of 10 days.

Concession Agreement Signed between India & Bhutan for Joint Venture Hydroelectric Project

On 29^th June 2020, a concession agreement was signed between the Kholongchhu Hydro Energy Limited and the Royal Government of Bhutan. The Concession Agreement provides the right to Kholongchhu Hydro Energy Limited to operate the Kholongchhu Hydroelectric Project within the jurisdictions of the Bhutanese Government.

The Concession Agreement signing was conducted at Bhutan’s capital city Thimphu. The Agreement signing was attended virtually by the Minister of External Affairs of India Dr. S. Jaishankar.

Kholongchhu Hydroelectric Project

• The project will be located on the Kholongchhu River in Eastern Bhutan’s Trashiyangtse District. 
• The run of the river Hydroelectric Project will of 600 MW and is expected to be completed by the second half of 2025.
• For the implementation and development of the Hydroelectric project, a joint venture between Bhutan’s Druk Green Power Corporation and India’s Satluj Jal Vidyut Nigam Limited was formed on 12^th June 2015. 
• The joint venture was named as Kholongchhu Hydro Energy Limited.

India-Bhutan Bilateral Hydropower Projects

• With the signing of the concession agreement, construction work at the Kholongchhu Hydroelectric Project will begin. 
• This is the 5^th Hydroelectric project under bilateral ties between the Governments of India and Bhutan.
• Prime Minister Narendra Modi had inaugurated the Mangdechhu Hydroelectric project in August 2019. 
• The Mangdechhu Hydroelectric Project is of 720 MW. 
• The Tala Hydroelectric Project is the largest Hydropower project in Bhutan with 1020 MW. 
• Tala Hydroelectric Project is operational since 2007 and was financed by India through grants.

World’s Largest Plasma Therapy Trial under Project ‘Platina’ launched by Maharashtra

The World’s largest Convalescent Plasma Therapy Trial project was launch on 29^th June 2020 by the Maharashtra State Government.  The name of the project is Platina. The project was virtually launched by the Chief Minister of Maharashtra Uddhav Thackeray.

For this trial project, the Indian Council of Medical Research has given the approval to conduct plasma therapy in COVID-19 positive patients admitted in the 21 COVID-19 hospitals of the Maharashtra State Government.

Project Platina

• In the absence of a definite treatment or drugs for the COVID-19 positive patients, Convalescent Plasma Therapy has shown encouraging results on patients across the world. 
• As Maharashtra has been the worst-hit state in India by the COVID-19 pandemic, trial under project Platina will help in creating a robust data for the use of Convalescent Plasma Therapy. 
• The project will also help in establishing an infrastructure for plasma treatment in the state.
• Costs of Plasma Therapy trials under the project will be borne by the State Government of Maharashtra. 
• From Chief Minister’s Relief Fund, Rs 16.85 crores have been sanctioned for the project.
• Under the trial project, two doses of 200 ml of convalescent plasma will be given to all critical patients in 21 State Government-run COVID-19 Hospitals of Maharashtra.

Plasma Therapy

• A person who has recovered successfully from the COVID-19 infection can donate his/her plasma. 
• In the case of COVID-19, Convalescent Plasma is used to transfer antibodies to the patient suffering from the COVID-19 virus. 
• This helps the patient’s body to develop similar antibodies for fighting the COVID-19 virus.