1. Koyna Dam was in news , Lets Learn about that Plus some other facts : Koyna dam is in Maharashtra.
It is built on Koyna River, which is a small tributary of Krishna River.
Koyna dam was perhaps the main cause of the devastating earthquake in 1967.
Some other Facts :-
Almatti Dam :- In Karnataka. It is built on Krishna River.
Other major Hydro-Power stations on Krishna River are:-Tungabhadara(inter-state project) , Sri Sailam, Nagarjuna Sagar, Naryanpur, Bhadra.
2. Project 75I-class submarine:= It is a follow-on of the Project 75 Kalvari-class submarine for the Indian navy. Under this project, the Indian Navy intends to acquire 6 diesel-electric submarines
These will have 2 Important features:-
3. CIC is asking Navy to disclose reasons of buying a refurbished 30-year old ship(Admiral Gorshkov- aircraft carrier) at escalated cost, instead of a new one.
Background:-A deal was signed between Indian Navy from Russia in 2004 for the purchase of Admiral Gorshkov- aircraft carrier which was originally commissioned by the erstwhile USSR in 1987. It was used in name of "Baku".
The Price was Further escalated for the already 23 years old Carrier(at the time of 2010).
SO Now CIC is asking the reason for the Purchase of an Old Carrier at such a high price , when it could have gone for a new one.
This Aircraft carrier was renamed as the INS Vikramaditya after India aquired it.
4. RBI has revised PCA(Prompt Corrective Action) norms for PSBs:-
What is PCA?: -
When is it invoked?- The PCA is invoked when certain risk thresholds are breached.
What are the Risk Threholds:- There are three risk thresholds which are based on certain levels of asset quality, profitability, capital and the like.
The third such threshold, which is maximum tolerance limit, sets net NPA at over 12% and negative return on assets for four consecutive years.
5. 1st map of the universe based entirely on the positions of Quasars has been created:=
Quasars are the incredibly bright and distant points of light powered by super-massive black holes which are present at their centres.
To make their map, scientists used the Sloan Foundation Telescope to observe an unprecedented number of quasars.
6. Various Reforms for NPA problem:=
i) 5/25 scheme by RBI: Permitted extension of loan amortization period up to 25 years with interest reset every 5 or 7 years.
ii) Sale of NPAs to Asset Reconstruction Companies (ARC):
It was low because of 2 reasons: banks have been reluctant to sell NPA at a price reflecting their realisable economic value; and, banks received only 15% of the NPA sales consideration in cash, while the rest was given by way of security receipts (SR) which meant continued exposure to the risk.
iii) Strategic Debt Restructuring scheme (SDR), 2015:- Involved banks taking over companies by converting debt into equity, replacing the promoters and thereafter selling their equity holdings to new investors
iv) Scheme for Sustainable Structuring of Stressed Assets(S4A), 2016:=The outstanding bank loan is required to be bifurcated into sustainable and unsustainable portions, enabling the borrower company to be revived and making it possible for the sustainable portion to be repaid.
v) Insolvency and Bankruptcy Code, 2016:- offers a uniform, comprehensive insolvency legislation encompassing all companies, partnerships and individuals (other than financial firms)
vi)Public Sector Asset Rehabilitation Agency (PARA):= it will be required to buy NPAs at prices that will involve deep writedowns by banks.
7. Study for Common Risk Mitigation Mechanism (CRMM) for solar power generation projects in solar rich countries.
The exercise is part of the international efforts aimed at implementing the the Paris Declaration of the International Solar Alliance (ISA) adopted on 30 November 2015.
Questions of the Day :-
1. Ordinance making power of President?
2. Pardoning Power of President vs Governor?
It is built on Koyna River, which is a small tributary of Krishna River.
Koyna dam was perhaps the main cause of the devastating earthquake in 1967.
Some other Facts :-
Almatti Dam :- In Karnataka. It is built on Krishna River.
Other major Hydro-Power stations on Krishna River are:-Tungabhadara(inter-state project) , Sri Sailam, Nagarjuna Sagar, Naryanpur, Bhadra.
2. Project 75I-class submarine:= It is a follow-on of the Project 75 Kalvari-class submarine for the Indian navy. Under this project, the Indian Navy intends to acquire 6 diesel-electric submarines
These will have 2 Important features:-
- Advanced Air Independent Propulsion (AIP) systems to enable them to stay submerged for longer duration and substantially increase their operational range.
- Vertical launch system(VLS) to enable them to carry multiple Brahmos supersonic cruise missiles, making the submarines fully capable of anti-surface and anti-ship warfare missions.
3. CIC is asking Navy to disclose reasons of buying a refurbished 30-year old ship(Admiral Gorshkov- aircraft carrier) at escalated cost, instead of a new one.
Background:-A deal was signed between Indian Navy from Russia in 2004 for the purchase of Admiral Gorshkov- aircraft carrier which was originally commissioned by the erstwhile USSR in 1987. It was used in name of "Baku".
The Price was Further escalated for the already 23 years old Carrier(at the time of 2010).
SO Now CIC is asking the reason for the Purchase of an Old Carrier at such a high price , when it could have gone for a new one.
This Aircraft carrier was renamed as the INS Vikramaditya after India aquired it.
4. RBI has revised PCA(Prompt Corrective Action) norms for PSBs:-
What is PCA?: -
- It allow the regulator to place certain restrictions such as halting branch expansion and stopping dividend payment.
- It can even cap a bank’s lending limit to one entity or sector.
- Other corrective action that can be imposed on banks include special audit, restructuring operations and activation of recovery plan.
- Banks’ promoters can be asked to bring in new management, too.
- The RBI can also supersede the bank’s board, under PCA.
When is it invoked?- The PCA is invoked when certain risk thresholds are breached.
What are the Risk Threholds:- There are three risk thresholds which are based on certain levels of asset quality, profitability, capital and the like.
The third such threshold, which is maximum tolerance limit, sets net NPA at over 12% and negative return on assets for four consecutive years.
5. 1st map of the universe based entirely on the positions of Quasars has been created:=
Quasars are the incredibly bright and distant points of light powered by super-massive black holes which are present at their centres.
To make their map, scientists used the Sloan Foundation Telescope to observe an unprecedented number of quasars.
6. Various Reforms for NPA problem:=
i) 5/25 scheme by RBI: Permitted extension of loan amortization period up to 25 years with interest reset every 5 or 7 years.
ii) Sale of NPAs to Asset Reconstruction Companies (ARC):
It was low because of 2 reasons: banks have been reluctant to sell NPA at a price reflecting their realisable economic value; and, banks received only 15% of the NPA sales consideration in cash, while the rest was given by way of security receipts (SR) which meant continued exposure to the risk.
iii) Strategic Debt Restructuring scheme (SDR), 2015:- Involved banks taking over companies by converting debt into equity, replacing the promoters and thereafter selling their equity holdings to new investors
iv) Scheme for Sustainable Structuring of Stressed Assets(S4A), 2016:=The outstanding bank loan is required to be bifurcated into sustainable and unsustainable portions, enabling the borrower company to be revived and making it possible for the sustainable portion to be repaid.
v) Insolvency and Bankruptcy Code, 2016:- offers a uniform, comprehensive insolvency legislation encompassing all companies, partnerships and individuals (other than financial firms)
vi)Public Sector Asset Rehabilitation Agency (PARA):= it will be required to buy NPAs at prices that will involve deep writedowns by banks.
7. Study for Common Risk Mitigation Mechanism (CRMM) for solar power generation projects in solar rich countries.
The exercise is part of the international efforts aimed at implementing the the Paris Declaration of the International Solar Alliance (ISA) adopted on 30 November 2015.
Questions of the Day :-
1. Ordinance making power of President?
2. Pardoning Power of President vs Governor?
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