Loan agreement between India and the Asian Development Bank (ADB) for Fintech | Current Affairs | Vision IAS
News Today Logo

Also in News

Posted 15 Mar 2024

Updated 27 Mar 2024

9 min read

Loan agreement between India and the Asian Development Bank (ADB) for Fintech

  • India and the ADB signed a $23 million loan agreement for Promoting Research and Innovation through Development of Fintech Institute at GIFT-City Project. 
    • GIFT-City in Gujarat is India’s International Financial Services Centre.

 

  • Highlights of project
    • It will establishes an International Fintech Institute (IFI) in partnership with globally reputed institutes and universities.
      • It will strengthen fintech education, boost start-up success rates, and drive fintech research and innovation.
    • Emphasis on market-driven fintech skills programmes. 
    • Create the enabling environment for private sector investment.
  • Tags :
  • Asian Development Bank (ADB)
  • Fintech

Lyme disease

  • A case of Lyme disease was reported in Ernakulam district (Kerala)

 

  • About Disease
    • Pathogen:  Bacteria Borrelia burgdorferi, and Borrelia mayonii
    • Infects humans by: Bite of deer ticks (or black-legged ticks).
    • Symptoms: Fever, headache, multiple areas of rash (called erythema migrans), heart block, numbness or recurring episodes of arthritis.
    • Treatment: Doxycycline or amoxicillin antibiotics
    • Regions affected: Mainly USA, Europe and some parts of Asia.
  • Tags :
  • Diseases
  • Lyme

Agnipath scheme

  • The Passing Out Parade of the third batch of Agniveers who are recruited under Agnipath scheme for serving in the Armed forces held recently.

 

  • About scheme
    • Background: Launched in 2022.
    • Ministry: Ministry of Defence
    • Aim:  To bring paradigm changes in the Human Resource Management of the Indian Army. 
    • Agniveers: 17.5-year-old to 21-year-old youth selected to serve in the Armed Forces for 4 years. 
    • Selection for regular cadre: The best among Agniveers, up to 25% in each batch, will be selected to serve for another 15 years.
    • ‘Seva Nidhi’ package: To be paid to Agniveers on completion of the engagement period of four years. 
  • Tags :
  • Agnipath scheme

DIANA Initiative

  • DIANA (Defence Innovation Accelerator for the North Atlantic) Initiative board approved a proposal to establish an accelerator and two test centers in Finland. 

 

  •  About DIANA initiative
    • Established by North Atlantic Treaty Organization (NATO) to find and accelerate dual-use innovation capacity across the Alliance.
    • It provides companies with the resources, networks and guidance to develop deep technologies. 
    • It aims to solve critical defence and security challenges, from operating in denied environments to tackling threats to our collective resilience.
    • All NATO nations are members of DIANA
  • Tags :
  • DIANA Initiative
  • NATO

PB-SHABD Initiative

  • Ministry of Information and Broadcasting launched PB-SHABD (Prasar Bharti - Shared Audio Visuals for Broadcast and Dissemination) Initiative

 

  • About PB-SHABD
    • A news service launched by Prasar Bharati to support the daily news needs of the Indian media industry.
    • It will be offering free of cost for the first year as an introductory offer and will provide news stories in all major Indian languages across fifty categories.
    • SHABD leverages on the expansive reporter network of Akashvani and Doordarshan to produce its news.

 

  • Prasar Bharati is India’s public broadcaster, which has Doordarshan and Akashvani operating under its aegis.
  • Tags :
  • PB-SHABD Initiative
  • Prasar Bharati

Gulf of Tonkin

  • China has delineated the baseline in the Gulf of Tonkin, known in Chinese as Beibu Gulf
    • Baselines, under UNCLOS 1982, are used to determine limits to territorial waters and Exclusive Economic Zones.
  • Gulf of Tonkin is located off the coast of Northern Vietnam and Southern China.
    • Until now both countries have maintained friendlier relations in this Gulf despite their overlapping claims in South China Sea. 
    • The Red River (which flows across China and Vietnam) empties into this gulf.
  • Tags :
  • Gulf of Tonkin

  Darien Gap

  • Darien Gap has emerged as one of the world’s most dangerous and fastest-growing border crossings for   illegal immigration.
    • This route is taken when people migrate from South America to North America.

 

  • About Darien Gap
    • Connects northern Colombia and southern Panama
    • Part of the Isthmus of Panama.
      • Isthmus is a narrow piece of land, with water on each side,  that joins two larger pieces of land.
    • It is a hot, humid area marked by tropical rainforests, mangrove swamps, and low mountain ranges with cloud forest vegetation (tropical mountainous regions). 
  • Tags :
  • Darien Gap

Geoheritage sites (GHS)

  • Geological Survey of India (GSI) emphasises preserving GHS at Pandavula Gutta in Jayashankar Bhupalpally District (Telangana).
    • Older than the Himalayan hills, Pandavula Gutta features prehistoric rock paintings in Green, red, yellow and white pigments. 
    • Paintings have swastika symbols, circles and squares, and animals like Bison, Antelope, Tiger, Leopard 
  • GHS, sites of rare geological and geomorphologic significance, are declared by GSI. 
    • India is a party to the UNESCO Convention concerning the Protection of the World Cultural and Natural Heritage. 
  • Across the world, the parties to this convention protect GHS through relevant legislation.
  • Tags :
  • Geoheritage sites (GHS)
  • Pandavula Gutta

Places in News

Belarus (Capital: Minsk)

 

  • Foreign Minister of Belarus paid official visit to India. 

 

  • Political boundaries
    • Landlocked country of Eastern Europe.
    • Bordering countries:  Lithuania and Latvia (northwest), Russia (north and east), Ukraine (south), and Poland (west).

 

  • Geographical features
    •  Much of the country consists of flat lowlands separated by low level-topped hills and uplands. 
      • Topography was largely shaped by glaciation during the Pleistocene Epoch.
    • Major Rivers: Pripet, Dnieper and Neman
    • Highest Point: Dzyarzhynskaya Hill
  • Tags :
  • Belarus
Watch News Today