ASTROSAT detected UV light from a galaxy, 9.3 billion light-years away

Pune based Inter-University Centre for Astronomy and Astrophysics confirmed that the AstroSat satellite has detected an extreme ultraviolet (UV) ray from a galaxy that is 9.3 billion light-years away from Earth.

What is ASTROSAT?

• Astrosat is the first multi-wavelength space telescope launched by ISRO from Satish Dhawan Space Centre in 2015. 
• It has a set of five unique X-ray and ultraviolet telescopes. The mission duration was planned for 5 years.

About the IUCAA led global team

• The discovery of UV light was conducted by a team that consists of scientists from India, Switzerland, France, the USA, Japan, and the Netherlands.
• The team was led by Dr. Kanak Saha.
• The news of the discovery was published in an online, peer-reviewed, scientific journal called “Nature Astronomy”.
• The team observed the galaxy that is located in the Hubble Extreme Deep Field.

Key findings could be made

• It will help to find how the dark ages of the universe ended and transition in the light ages took place in the universe.

NASA’s previous approach

• NASA’s Hubble Space Telescope was commissioned with the same objective as ASTROSAT but it failed to detect any UV emission. 
• As reported by experts, the background noise in the ultraviolet detector of ASTROSAT is much less than that of the Hubble Space Telescope.

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.

ILO-ADB report: concern expressed on job loss of 41 lakh youth in India amid the Covid-19 pandemic

 The joint report of the International Labour Organization and the Asian Development Bank titled ‘Tackling the COVID-19 youth employment crisis in Asia and the Pacific’ apprehended that the COVID-19 pandemic may hit with a job loss of 41 lakh youth in India. The report also added that a major percentage of job loss will be faced by the workers associated with the construction and farm sector.

What are the key findings of the report?

The report conducted a regional evaluation of the ‘Global Survey on Youth and COVID-19’. 

• The youth of the age group of 15-24 are going to experience the maximum impact
• The pandemic outbreak severely affected the apprenticeship and internship program.
• The report considered three factors as responsible for this condition i.e. reduced working hours and wages, job losses, lack of training, and education.

Measures suggested by the report

• The report suggested the government to take some actions with immediate effect on employment generation, training & education, and prevention of any further impact.
• It suggested wage subsidies and public employment programs for the youths of India.
• More inclusion of youth in the labor market with innovative solutions for better allocation of resources.

Global picture

• The report showed an increasing trend of youth unemployment rates in countries like Indonesia, Australia, Malaysia, Japan, Vietnam, China.

International Labour Organization

• ILO is an agency under the United Nations whose objective is to set international labor standards for the advancement of social and economic justice. 
• It was established in 1919 and headquartered in Geneva, Switzerland

Death Valley in Southern California witnessed its hottest temperature in more than a century

 Furnace Creek of the Death Valley in the Southern California desert recorded its highest air temperature on Earth since July of 1913. The Weather Prediction Center of the National Oceanic and Atmospheric Administration measured 54.4 degrees Celsius temperature in that area. However, the verification of the recorded temperature is yet not confirmed by the concerned authority.

What is Death Valley?

• Death Valley is a graben (a down-dropped block of land between two mountain ranges), located in Eastern California region. 
• Due to its location in the rainshadow area of four mountain ranges, the valley is extremely dry in nature. 
• According to scientists the high temperature is caused by Solar heating, warm air tapping, warm air migration, hot mountain winds.

Why is it making news?

• Death Valley is considered one of the  hottest places on Earth. 
• It is best known for creating a record for the highest recorded air temperature on Earth at 56.7 degrees Celsius on 10th July 1913. 
• Recently, the thermometer near the area has soared to 54.4 degrees Celsius, which is the highest temperature in more than a century.

NOAA

• The National Oceanic and Atmospheric Administration is a scientific agency in America, associated with the observations regarding the conditions of the oceans, major waterways, and the atmosphere.

What are the other hottest places in the world?

• Other than the Death Valley, California several hottest places are there in the world i.e. Kebili (Tunisia), Mitribah (Kuwait), Turbat (Pakistan), Dallol (Ethiopia), Aziziyah (Libya).

Highest temperature recorded in India

• In 2016 Palodi, Rajasthan witnessed 51.0 degrees Celsius which is the highest ever recorded temperature in India. 
• Recently, Rajasthan’s Churu recorded a temperature of 50 degrees Celsius.

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.