WHY IN THE NEWS?

Lewis Hamilton has become the first-ever Formula-one driver who reached to his 100 wins after finishing at first in the Russian Grand Prix on September 26, 2021.

About:

• Lewis Hamilton, the seven-time World Champion, overtook the long-time race leader Lando Norris late on.
• Norris, was aiming for a maiden Grand Prix victory. He was leading for most of the race.
• Hamilton finished over 53 seconds ahead of the second-placed Max Verstappen. Max had started at back of the grid after Red Bull took a new engine.
• Hamilton also moved back to the top of driver’s championship standings ahead of Verstappen.
• Hamilton is already holding the record for most F1 wins.

Sir Lewis Carl Davidson Hamilton

He is a British racing driver and currently competes in Formula One for Mercedes. He has previously driven for McLaren from 2007 to 2012. Hamilton has won the joint-record seven World Drivers’ Championship titles in Formula One. He also holds the records for the most wins, podium finishes and pole positions.

Background

Hamilton was born and raised in Stevenage, Hertfordshire. In the year 1998, he joined the McLaren young driver programme. This led to a Formula One drive in 2007 with McLaren. In 2007 season, Hamilton set numerous records and finished runner-up to Kimi Raikkonen by one point. In the next season, he won his maiden title in dramatic fashion and become the then-youngest Formula One World Champion in history.

WHY IN THE NEWS?

Voters in Switzerland decided to legalize same-sex marriage on September 26, 2021. It makes Switzerland one of the last countries in Western Europe to do so.

About:

• Apart from opening up the option of marriage to all couples, the government also approved an amendment to Switzerland’s marriage law which was put to voters in a referendum.
• This law also grants lesbian couples to get access to sperm banks as well as allows same-sex couples to adopt children.
• Under the amended law, same-sex couples will be able to have a civil wedding. They will be granted the same institutional and legal rights as heterosexual couples.
• They will be granted simplified naturalization for foreign partner.
• Law was approved through a referendum, in which polls predicted widespread approval for same-sex marriage in the country.
• The legislation change was accepted by 64.1 percent of voters. It also received strong support in urban as well as rural areas.

Background

Federal government has approved the marriage laws in year 2020 and in the line, parliament had also approved them, granting all couples the same rights. However, opponents were seeking to limit marriages to unions between a man and a woman. Thus, they collected signatures to force a referendum.

Same sex couple in Switzerland

Same-sex couples in Switzerland have been able to enter into a civil partnership since 2007. It grants them some legal rights. However, it is not equal to a marriage.

Country not allowing same sex marriage

Italy is the only country in Western Europe which does not allow marriage between same-sex couples. It only allows civil unions

WHY IN THE NEWS?

The Indian Institute of Technology (IIT) Delhi has set up a ‘Centre of Excellence (CoE) on Quantum Technologies’ in a bid to conduct research activities in the related field.

About:

• This CoE will bring synergy and coherence in the activities that are being carried out at IIT Delhi,
• It will also support the principal investigators to pitch in for several significant projects from the DST and other agencies.

Focus areas of CoE

The centre of Excellence will focus on select thrust areas including quantum computing, quantum sensing & metrology, quantum communication and quantum materials & devices. Centre would undertake the design and development of new quantum materials. It would also undertake research activities related to the quantum processor & cryogenic controller, modelling and technology development of semiconducting qubits such as CMOS and 2D materials, quantum biophotonics, quantum sensing & metrology, development of single-photon detectors etc.

Significance of quantum physics

Quantum physics has impacted society in an unprecedented way, in some 100 years. In order to exploit the characteristics of quantum physics in light & materials, researchers invented both laser and the transistor. Inventions ranging form the basis of information technology, computers, the internet, etc has shaped the society up to a large extent. It was the first quantum revolution.

Second quantum revolution

Second quantum revolution is now round the corner. It is benefitting enormously from the advancements of ability to detect and manipulate single quantum objects like photons and atoms

WHY IN THE NEWS?

Vice-President M. Venkaiah Naidu presented the Council of Scientific and Industrial Research (CSIR) innovation on September 26, 2021.

About

• Awards were presented to two Class 10 students from Udupi district in a virtual ceremony.
• Those students are Anusha and Rakshitha Naik from Charamakki Narayana Shetty Memorial Government High School in Ardi Village.
• They received the award for their project named “Gas Saving Kit”.
• Award was sponsored by the Union Ministry of Science and Technology, that will reach to students in a week, via post.
• It comprises of a cash prize of Rs 20,000.

Background

• 0f all, 14 schools have been awarded from across the country.
• Out of 14 schools, Charamakki Narayana Shetty Memorial Government High School is the only government school to get this award.

About the project

Both the students developed gas saving kit. This kit would enable a family of four to source hot water for bathing as well as cooking food simultaneously. It will also allow water to flow through a copper coiled frame which have been kept over a flaming stove. In the process, water flowing through the outlet pipe is heated.

Council of Scientific and Industrial Research (CSIR)

CSIR was established in September 1942 by the Government of India as an autonomous body. It is the largest research and development organisation in India. It is mainly funded by the Ministry of Science and Technology. However, it operates as an autonomous body under the Societies Registration Act, 1860. The research and development activities the organisation comprises of structural engineering, aerospace engineering, ocean sciences, chemicals, mining, life sciences, metallurgy, food, leather, petroleum, and environmental science.

WHY IN THE NEWS?

National Institute of Rural Development and Panchayati Raj (NIRD&PR), Hyderabad under the Ministry of Rural Development (MoRD) presented “Hunarbaaz Awards” to 75 diyangjan candidates.

About:

• Awards were presented to candidates from 15 states as a part of Azaadi ka Amrit Mahotsav on September 25, 2021.
• September 25 also marked the occasion of Antyodaya Diwas which is observed on birth anniversary of Pandit Deen Dayal Upadhyaya.
• Virtual award ceremony was organised by NIRDPR with MoRD, in collaboration with the State Rural Livelihood Missions (SRLMs) and Rural Self-employment Training Institutes.
• CEOs of SRLMs and Directors of RSETIs presented the awards at respective states to the specially-abled achievers.

DDU-GKY and RSETI ka Hunarbaaz Awards

These awards have been instituted by the NIRD&PR, Hyderabad. These awards are presented to the candidates who were trained under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) and Rural Self Employment Training Institutes (RSETI) schemes and got placed & worked in the organizations for more than one year.

About DDU-GKY

Union Ministers Nitin Gadkari and Venkaiah Naidu launched DDU-GKY on September 25, 2014 on the occasion of 98th birth anniversary of Pandit Deendayal Upadhyaya. It was launched with the vision of “Transforming poor youth from rural India into an economically independent and globally relevant workforce”. It is aimed at targeting youth, in the age group of 15–35 years. This scheme is a part of the National Rural Livelihood Mission (NRLM) and is tasked with the dual objectives of adding diversity to the incomes of poor families and cater to the career aspirations of youth from rural India. A corpus of Rs 1,500 crore was dedicated for this purpose. Under it, disbursements are made through a digital voucher directly into the bank account of students

WHY IN THE NEWS?

UNICEF released its new report titled “Fed to fail? The crisis of children’s diets in early life”.

About:

• According to the report, Children aged under 2 are not getting the food or nutrients they need to thrive and grow well. This is leading to irreversible developmental harm.
• The report warns that rising poverty, conflict, inequality, climate-related disasters, and health emergencies like COVID-19 pandemic, are contributing to the nutrition crisis among those children.
• Poor nutritional intake in the first two years of life can harm the rapidly growing bodies and brains of the children. It also impacts their schooling, job prospects and futures. But there has been little progress towards providing right kind of nutritious and safe foods for them.
• While conducting the analysis across 91 countries, the report finds that, half of children aged 6-23 months are getting minimum recommended number of meals in a day.
• One third of the children consume the minimum number of food groups they need to grow.

Impact of Covid-19

COVID-19 pandemic still continues to disrupt the essential services and is driving more families into poverty. According to the report, pandemic is also affecting how families feed their children. In several countries, families have been forced to reduce the purchases of nutritious food. Because of this, percentage of children consuming minimum recommended number of food groups reduced by a third in 2020 as compared to 2018.

Vulnerability of Children

Children aged under two are most vulnerable to all forms of malnutrition like wasting, stunting, micronutrient deficiencies, overweight and obesity. As per UNICEF estimates, more than half of children aged under 5 are vulnerable to wasting, globally.

WHY IN THE NEWS?

The world’s highest EV charging station was opened at Kaza town, which is located in Lahaul and Spiti district of Himachal Pradesh.

About:

• The EV charging station was opened on September 23, 2021, in order to promote a sustainable environment.
• It is the world’s highest electric vehicle charging station located at 500 ft.
• Along with the EV charging station, two women drove electric vehicles from Manali to Kaza to promote a clean and green environment.
• All the products including chargers of this station are made in India.

India’s EV ecosystem

India is gaining good momentum in the electric vehicle (EV) ecosystem. There is a good response for battery-operated small electric vehicles such as e-scooter, e-rickshaws, electric three-wheelers, e-carts, and e-bikes in India. Currently, the road ministry is planning to run the railway, metro, and long-run intercity buses on green hydrogen fuel. Battery electric vehicles, as well as fuel cell vehicle technologies, are complementary to each other. These technologies are all set to overtake fossil-run automotive by 2050 in India.

Kaza Town

Kaza Town is the sub-divisional headquarters of Spiti Valley. It is located in western Himalayas in Lahaul and Spiti district of Himachal Pradesh. Spiti is a high altitude or cold desert which is having close similarities to the neighbouring Tibet and Ladakh regions with respect to the terrain, climate and the Buddhist culture. Kaza is situated along the Spiti River, at the elevation of 3,650 metres. It is the largest township and commercial center in Spiti valley

WHY IN THE NEWS?

Khadi and Village Industries Commission (KVIC) has started a historic initiative to set up the first-ever Tussar Silk Yarn Production Centre at Choudwar in Cuttack district in Odisha.

About:

• The silk yarn production centre was inaugurated on September 24, 2021, by the Chairman of KVIC, Vinai Kumar Saxena.
• This centre will ensure local availability of Tussar Silk yarn, reduce the silk production cost as well as create local employment.
• Tussar silk is one of the finest varieties of Silk. It is distinguished by its coarseness and porous weave, giving it a rugged and rustic appearance.
• This centre was set up at a cost of Rs 75 lakh.
• It is capable of producing 200 KG of silk yarn of worth Rs 94 lakh annually.

Silk production in Odisha

Odisha has been known for exquisite Silk production, particularly the Tussar variety. This industry provides livelihood to thousands of tribal people, particularly women in the state. But the Silk weavers were totally dependent on states such as West Bengal, Karnataka and Jharkhand for the Silk yarn. This in turn, increased the cost of the Silk fabric here.

Significance of the Production centre in Odisha

Opening up of the Tussar Silk Yarn Production Centre in Odisha is of great significance because Silk comprises nearly 75% of the total Khadi fabric production in the State alone. This production centre will be creating direct employment for 50 artisans including 34 women. It will also provide livelihood support to more than 300 tribal farmers engaged in cocoon farming. This centre will also create indirect employment for weavers. Every kilo of raw silk produced will create employment for 11 artisans of which 6 are women

WHY IN THE NEWS?

Ministry of Defence (MoD) has signed a $2.5 billion contract for the acquisition of 56 Airbus C-295 aircraft.

About:

• 56 Airbus C-295 aircraft will replace the Indian Air Force’s (IAF’s) legacy fleet of Avro HS-748 aircraft.
• As per contract, Airbus will deliver the first 16 aircraft in ‘fly-away’ condition. It will be delivered from its final assembly line in Seville, Spain.
• Other 40 aircraft will be manufactured and assembled in India by Tata Advanced Systems (TASL). Manufacturing will be done in India as part of an industrial partnership between Airbus and TASL.

Operator of C-295

Indian Air Force will become the 35th operator of C-295 aircraft worldwide.

Order of C-295 aircraft

Airbus had obtained orders for 278 of the aircraft. Out of which 200 are already in operation.

Avro replacement programme

Under the “Avro replacement programme”, a private sector firm will build an entire aircraft in India for the first time. It will be developing an entire industrial ecosystem ranging from manufacture, assembly, testing and qualification, delivery to the maintenance of aircraft’s lifecycle.

Specification of C-295 aircrafts

C-295 aircraft is powered by two Pratt & Whitney PW-127 turbo-prop engines, which is a part of the PW-100 family. It can transport up to 71 troops or 50 paratroopers along with battle loads. It can also ferry supplies to locations which are not accessible by the heavier transport aircraft of IAF. It can also be used for medical evacuation, using basic litters or mobile intensive care units (ICU) comprising of life support equipment.

WHY IN THE NEWS?

The Reserve Bank of India (RBI) allowed lenders to sell loans that are tagged as fraud to the asset reconstruction companies (ARCs).

About:
This permission by RBI potentially paves the way for focussed recovery efforts on loans worth trillions of rupees.

• As per RBI’s annual report, banks have reported frauds of about Rs 95 trillion in between Financial Year 2019 and Financial Year 2021.
• With RBI’s permission, now banks can sell stressed loans in default for more than 60 days or those classified as bad loans including fraudulent loans. However, this permission is subject to some conditions.
• However, transfer of these exposures to an ARC does not absolve the lender from fixing staff accountability which is required under the extant instructions on frauds.
• Currently, lenders are not permitted to transfer fraudulent loans to asset turnaround companies. But the recent change in norms will allow ARCs to buy more assets as well as the National Asset Reconstruction Company Ltd (NARCL) to partake in more asset resolutions. It will thus lead to a faster clean-up.

Significance of the new norm

The new norm has open significant opportunities for banks as well as asset reconstruction companies as it would allow them to probably buy these assets at a greater discount rather than regular bad loans.

How lenders sell stressed loans?

Lenders sell stressed loans to ARCs at a discount, in exchange for cash or a mix of cash & security receipts. These receipts are redeemable after ARC has recovered the specific loan. ARCs charge an asset management fee of 1.5-2% of the asset annually. Once an account is declared fraud, banks are required to set aside 100% of the outstanding loans.