Key Fact Statement (KFS) | Current Affairs | Vision IAS
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Posted 09 Feb 2024

Updated 16 Mar 2024

9 min read

Key Fact Statement (KFS)

  • Reserve Bank of India has mandated that all regulated entities provide a KFS to retail and MSME borrowers.

 

  • About KFS
    • It is a document that clearly explains lending terms and has key information regarding a loan agreement in a simple and easy-to-understand format.
    • It enhances transparency in lending and enables customers to make informed decisions.
  • Tags :
  • MSMEs
  • Reserve Bank of India
  • KeyFactStatement

Initiatives under PMFBY

  • Union Government launched 3 new initiatives under Pradhan Mantri Fasal Bima Yojana (PMFBY).
    • PMFBY is comprehensive crop insurance from pre-sowing to post-harvest period.
  • Krishi Rakshak Portal and Helpline (KRPH) 14447: To provide multilingual support, transparent communication and real-time grievance resolution.
  • Learning Management System (LMS) to train stakeholders in efficient crop insurance and agricultural credit.
  • SARTHI Portal: To extend coverage to health, life, home, shop, agriculture implements, motor, and parametric products.
    • SARTHI is a digital insurance platform launched in collaboration with UNDP India.
  • Tags :
  • PMFBY
  • SARTHI Portal

Kaladan Multi-Modal Transit Transport (KMTT) Project

  • Myanmar rebel’s capture of Paletwa town adversely impacts the KMTT project.

 

  • About KMTT Project
    • Aims to provide connectivity between India and Myanmar from Ports on India’s eastern seaport to Myanmar’s Sittwe Port, and further to North East India.
    • 4 stages – 
      • Kolkata to Sittwe port via the Bay of Bengal.
      • Sittwe to Paletwa inland (River Kaladan).
      • Paletwa to India-Myanmar border post in Mizoram.
      • Border to Lawngtlai in Mizoram (NH 54).
    • Significance: Improved access to Southeast Asia, improved connectivity to north-eastern states, etc.
  • Tags :
  • Kaladan Multi-Modal
  • Myanmar
  • KMTT Project

Conservation Reserve

  • Telangana’s State Board for Wildlife (SBWL) approved the corridor area between Tadoba-Andhari Tiger Reserve and Kawal Tiger Reserve as a conservation reserve.
    • SBWL is established under the Wildlife (Protection) Amendment (WPA) Act, 2002, headed by Chief Minister or Administrator in case of UT. 

 

  • About Conservation Reserve:
    • A protected area under the ‘Wildlife (Protection) Act (WPA), 1972’ (added through the WPA Act of 2002). 
    • Acts as buffer zone to or connectors and migration corridors between national parks, wildlife sanctuaries and protected areas. 
    • Declared by the State Government, after consulting with the central government and the local communities. 
    • It is administered with the help of the Conservation Reserve Management Committee.
  • Tags :
  • Conservation Reserve
  • Kawal Tiger Reserve

Natural gas flare

  • Recently, natural gas flare samples collected in USA  revealed high variation in nitrogen oxides emission estimates

 

  • About Natural gas flare:
    • It is the burning of the natural gas associated with oil extraction.
    • The flare's combustion converts hydrocarbons to carbon dioxide and water.
    • The process lessens the climate impact and reduces the safety concerns of the natural gas.
    • However, it also produces nitrogen oxides or NOx.
      • NOx includes the highly reactive gasses such as nitric oxide and nitrogen dioxide which directly and indirectly impacts air quality.
    • In 2015, the World Bank and the United Nation, launched the Zero Routine Flaring by 2030 (ZRF) initiative.
  • Tags :
  • Natural gas flare
  • nitrogen oxides

Kilkari programme

  • Union Ministers of State for Health and Family Welfare launched Kilkari programme for beneficiaries in local content in Gujarat and Maharashtra.

 

  • About Kilkari programme
    • Kilkari’ (meaning ‘a baby’s gurgle’), is a centralized interactive voice response (IVR) based mobile health service.
    • Centrally hosted by Union Ministry of Health & Family Welfare.
    • Delivers free, weekly, time-appropriate 72 audio messages about pregnancy, childbirth, and childcare directly to families’ mobile phones from second trimester of pregnancy until child is one year old.
  • Tags :
  • Kilkari programme
  • Ministry of Health and Family Welfare

Support to Students for Participating in Competitions Abroad (SSPCA)

  • All India Council for Technical Education (AICTE) launched SSPCA to bolster global competitiveness of Indian students in technical education.
  • ObjectivesTo provide travel assistance registration fee to a team of minimum 2 to 10 Bachelor students for attending competition on scientific event at international level
  • EligibilityA team of Students in the field of technical education enrolled and undergoing a technical course notified by AICTE in an AICTE-approved technical institution.
  • Grant: Entire amount subject to a maximum 1 lakh per student
  • Tags :
  • Support to Students
  • All India Council for Technical Education

Aubrites Meteorite

  • Study of Meteorite fragments from the Asteroid 2024 BX1 found that they are part of aubrites Meteorite.
  • Meteor that reaches the Earth is called a meteorite.

 

  • About Aubrites Meteorite
    • Are rare meteorites originating from an extremely reduced differentiated parent body in the solar system.
    • Named after the meteroite, which fell in 1836 near Aubres, France.
    • They are coarse-grained igneous rocks formed under extremely reducing conditions or by little or no free oxygen. 
    • Contain a variety of exotic minerals not found on Earth.
  • Tags :
  • Meteorite
  • Asteroid

Place in News

Iceland 

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  • Recently, a volcano erupted in Iceland.

 

  • Political features:
    • Aisland country, located in North Atlantic Ocean.
    • Part of the Nordic Countries
      • Other Nordic countries are Denmark, Finland, Norway, and Sweden.
    • Bounded by Greenland Sea (North); Norwegian Sea (East); Atlantic Ocean (South and west); Denmark Strait (Northwest).

 

  • Geographical Features
    • It is underlain by basalt, a dark rock of igneous origin.
    • Lies on the Mid-Atlantic Ridge.
    • Ridge is formed at divergent plate boundary where the North American Plate and the Eurasian Plate are moving away from each other.
    • Highest Peak: Hvannadals Peak
    • Major river: Thjórs River
  • Tags :
  • Iceland
  • Nordic Countries
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