Why in News ?

• US House of Representatives has reintroduced bipartisan legislation to eliminate per country cap on employment-based green card. This legislation is called as “EAGLE Act” and was introduced to benefit Indian IT professionals who are waiting over decades for green card.

What is EAGLE Act, 2021 ?

• EAGLE Act is called as “Equal Access to Green cards for Legal Employment Act”. It proposes to phase out limit of seven per cent per-country on employment-based immigrant visas. It also seeks to raise seven per cent per-country limit to 15 percent on family-sponsored visas.

How will it help Indians ?

• Due to existing cap, a person from a large-population country like India with extraordinary qualifications, who could contribute to US economy & create jobs, waits behind person with lesser qualifications from small country. Thus, new legislation will reduce waiting time for Indian professionals.

Why in news ?

• Social Justice and Empowerment Minister, Thaawar chand Gehlot, will launch senior care Ageing Growth Engine or SAGE project on June 4, 2021.

What is SAGE project?

• SAGE project will be launched to select, support and create “one-stop access” of elderly care products and services provided by credible start-ups.
• Project was formulated following the recommendations of empowered expert committee report on start-ups for elderly.
• Once the project is launched, start-ups can apply to be a part of it through dedicated portal. This dedicated portal will also be launched along with the scheme.

How start-ups will be selected?

• Start-ups will be selected based on their innovative products and services, which they can provide across sectors like housing, health and care centres. They will also be selected based on technological access linked to finances, food & wealth management besides legal guidance.

Who will facilitate the scheme?

• Ministry of Social Justice and Empowerment will be the facilitator to enable elderly to access products through these identified and verified start-ups.

Why in News ?

• According to TATA Power, Blue-finned Mahseer has moved to “least concern” status which was listed in red list of endangered species of International Union for Conservation of Nature (IUCN) earlier.

About:

• TATA group is involved in conservation of blue-finned and golden mahseer for 50 years in Lonavala.
• Golden mahseer is still in danger of going extinct.
• About five lakh mahseer are bred at Walvan Hatchery in Lonavala, where group has created an artificial lake for their conservation.

About Mahseer

• Mahseer is the common name for genera Tor. These fishes are found across Vietnam in north and China in south, Laos, Cambodia, Thailand, Indonesia, Malaysia, southern Asia, Indian Peninsula, Pakistan, Sri Lanka and Afghanistan. They are commercially important game fish and highly esteemed food fish. They have a high market price and are potential candidate species for aquaculture.

Why in News ?

• Indian Institute of Technology (IIT) Hyderabad has developed nano-fibre based oral tablets of Amphotericin B, called as AmB.

About:

• IIT Hyderabad researchers decided to keep this technology free of intellectual property rights and are ready for technology transfer so that tablet can be produced on mass level.
• This medicine is reportedly cheaper, higher AmB absorption and less Nephrotoxicity.
• AmB was earlier available in injectable form only.

What are Amphotericin B tablets?

• Amphotericin B tablets are nano-fibre based oral medicine that can be used to treat fungal infections which is currently spreading in India post COVID treatment.

Why in News ?

Archaeological Survey of India (ASI) has found three caves in Buddhist Caves Complex in Nasik, Maharashtra.

About:

• Newly discovered caves are being discovered about two centuries after the British military officer documented Tri-Rashmi Buddhist caves, which is also called as Pandav Leni, on a hill in Nashik.
• Antiquity of caves is yet to be established. They may have been dwellings of Buddhist monks.
• Archaeologists believe, these caves could be older than Trirashmi caves.

• Labor Veteran Issac Herzog has been elected as the 11th President of Israel in a secret ballot in the Knesset (Parliament of Israel).
• The 60-year old will be the first President of Israel who is the son of a former president. Herzog’s father Chaim Herzog had also served as Israel’s head of state between 1983 and 1993.
• Herzog will replace President Reuven Rivlin, who was elected as a President in 2014, and will assume his position as Israel’s President on July 9, 2021

• The Union Cabinet chaired by Prime Minister Narendra Modi on June 2, 2021, approved the signing and ratification of an Agreement on ‘Cooperation in the field of Mass Media’ between all the Member States of Shangai Cooperation Organization (SCO).
• The Agreement on ‘Cooperation in the field of Mass Media’ between all the Member States of Shanghai Cooperation Organization was signed in June 2019.
• The Member States of the Shangai Cooperation Organization consists of eight countries: India, China, the Kyrgyz Republic, Kazakhstan, Pakistan, Tajikistan, Russia, and Uzbekistan.

• Vice Admiral Ravneet Singh takes charge as Deputy Chief of Naval Staff.
• He has commanded various Naval Air Squadrons and frontline ships including INS Himgiri, INS Ranvir, INS Ranvijay, INAS 551B, INAS 300 and premier Air Base INS Hansa. 
• He is a qualified flying instructor with a Master Green instrument rating.
• He has flown Kiran HJT 16, HT-2, TS 11 Iskra, Hunter, Harrier Gr 3, Jet Provost, Chetak, Gazelle, Hawk and Mig 29 KUB aircraft.

Why in News ?

• Largest warship of Iranian navy caught fire and sank in the Gulf of Oman, circumstances are still unclear. Kharg used to resupply other ships in fleet and conduct training exercises. It sank near Iranian port of Jask.

IRIS Kharg

• Kharg, named after Island Kharg, was a modified Ol-class fleet replenishment oiler of Islamic Republic of Iran Navy. It was built by Swan Hunter in United Kingdom, which was officially launched in 1977. It was largest naval vessel of Iran on the basis of tonnage.

Ol-class Tankers

• They were Royal Fleet Auxiliary “fast fleet tankers” which provides fuel, food, fresh water and other supplies to Royal Navy vessels across the world.

Kharg or Khark Island

• Kharg is a continental island, located in Persian Gulf and is about 25 km off the coast of Iran.

• K.P. Krishnan committee on “Variable Capital Company” has submitted its report to International Financial Services centres Authority (IFSCA) regarding feasibility of Variable Capital Companies in International Financial Services Centres in India.
• IFSCA had set up K.P. Krishnan committee to explore potential for allowing variable capital company (VCC) as an additional option using which asset managers could pool investors’ funds.
• VCC is an alternative form of corporate vehicle which can be used for open-ended as well as closed-ended alternative and traditional fund strategies. It is a corporate vehicle with flexible capital because of which shares are created when investments are made and shares are readily redeemable by shareholders. It has been designed for fund management industry.
• It is a corporate vehicle with flexible capital because of which shares are created when investments are made and shares are readily redeemable by shareholders.