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Social Media Marketing Course EMarketing Institute eBook 2018 Edition

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  March 16, 2019 Insights Daily Current Affairs + PIB: 16 March 2019 insightsonindia.com /2019/03/16/insights-daily-current-affairs-pib-16-march-2019 Insights Daily Current Affairs + PIB: 16 March 2019Relevant articles from various News Papers:Paper 3: Topics covered: 1. Awareness in the field of IT. National Supercomputing Mission (NSM)What to study? For Prelims and Mains: NSM- objectives, significance and challenges ahead.Context:   IIT Kharagpur has signed an MoU with Centre for Development of Advanced Computing (C-DAC) to set up a 1.3 Petaflop high-performance computing facility   anddata centre funded under the National Supercomputing Mission .The new supercomputing system would be used for specific challenge domainslike cryptography, chemistry, molecular dynamics, drug discovery, artificialintelligence and data sciences where the new system would be utilized. National Supercomputing Mission (NSM): National Supercomputing Mission, approved in 2016, is being implemented and steered jointly by the Department of Science and Technology (DST) and Department of Electronics and Information Technology (DeitY) .The Mission envisages empowering national academic and R&D institutionsspread over the country by installing a vast supercomputing grid comprising of more than 70 high-performance computing facilities .These supercomputers will also be networked on the National Supercomputinggrid over the National Knowledge Network (NKN) . The NKN is anotherprogramme of the government which connects academic institutions and R&Dlabs over a high speed network. The Mission includes development of highly professional High PerformanceComputing (HPC) aware human resource for meeting challenges of development of these applications . Significance: World-wide supercomputing facilities have enabled countries in their S&T capabilitiesin areas such as designing vehicles, aeroplanes, massive structures like high rise 1/14  buildings and bridges, infrastructure, discovery of new life saving drugs, discoveryand extraction of new energy sources including oil, natural gas etc.Over the years, supercomputers have benefitted mankind in several ways. Weatherprediction has reached accuracy of forecast as well as real time tracking of naturalphenomenon. Timely warning of cyclones in the recent past have saved many livesand property. The Mission aims to further such capabilities beyond current levels.Sources: the hindu. Paper 3: Topics Covered: 1. Indian Economy and issues relating to planning, mobilization of resources,growth, development and employment. Domestic systemically important bank What to study? For Prelims and Mains: D- SIB- meaning, concerns, need and management.Context:  RBI categorises IDBI Bank as Private Sector Bank; SBI, ICICI and HDFC remainSystemically Important Banks. What is a domestic systemically important bank and why is it important?  2/14  D-SIB means that the bank is too big to fail  . According to the RBI, some banksbecome systemically important due to their size, cross-jurisdictional activities,complexity and lack of substitute and interconnection. Banks whose assets exceed  2% of GDP are considered part of this group . Significance: 1. Should such a bank fail, there would be significant disruption to the essentialservices they provide to the banking system and the overall economy.2. The too-big-to-fail tag also indicates that in case of distress, the government isexpected to support these banks. Due to this perception, these banks enjoycertain advantages in funding. It also means that these banks have a differentset of policy measures regarding systemic risks and moral hazard issues. Classification: 1. RBI has to disclose names of banks designated as D-SIB. It classifies the banksunder five buckets depending on order of importance.2. Based on the bucket in which a D-SIB is, an additional common equityrequirement applies. Banks in bucket one need to maintain a 0.15% incrementaltier-I capital from April 2018. Banks in bucket three have to maintain anadditional 0.45%.3. All the banks under D-SIB are required to maintain higher share of risk-weighted assets as tier-I equity. Need: 1. It was observed during the global financial crisis that problems faced by certainlarge and highly interconnected financial institutions hampered the orderlyfunctioning of the financial system, which in turn, negatively impacted the realeconomy.2. Government intervention was considered necessary to ensure financial stabilityin many jurisdictions. Cost of public sector intervention and consequentialincrease in moral hazard required that future regulatory policies should aim atreducing the probability of failure of SIBs and the impact of the failure of thesebanks.Sources: the hindu.Mains Question: What prompted RBI to classify some banks in India such as SBI andICICI as systemically important? Also examine implications of this move. Paper 1: Topics Covered: Modern Indian history from about the middle of the eighteenth century until thepresent- significant events, personalities, issues. Who are the Gurkhas of the British Army?  3/14  What to study? For Prelims and Mains: Gurkha regiment in British army, historical background and significance.Context:  The British Army announced this week that it would create a new SpecialisedInfantry Battalion by recruiting more than 800 Nepalese Gurkha servicepersons thisyear. Who are they? Brief background: Currently, the Gurkhas comprise up to 3% of the British Army, and in 2015 completed200 years of service there.Impressed by their discipline and ferocity in  Anglo-Nepalese War of 1814-16  , theBritish decided to recruit Gurkha soldiers starting in 1815. Since then, the Gurkhashave fought on the side of the British Empire in almost every war, including bothWorld Wars.Upon Independence in 1947, the question of allotting the 10 regiments of Gurkha soldiers arose. This was settled by the Britain-India-Nepal TripartiteAgreement. In 1948, India created an 11th Gurkha Rifles regiment toaccommodate the Gurkhas who refused to depart with the now-Britishregiments.Later, the British Army amalgamated their four regiments into a combinedRoyal Gurkha Rifles (RGR) regiment consisting of three battalions. The RGR wassubsequently deployed in Britain’s remaining colonies in Asia, includingMalaysia, Singapore, and Hong Kong, to fill the vacuum created by departingIndian regiments such as the Sikhs, which were stationed there earlier. Recruitment of Gurkhas: The Gurkhas are recruited every year at the British Gurkha camp at Pokhara in Nepal.The camp enlists fresh recruits not only for the British Army, but also for the counter-terror arm of the Singapore Police Force. British Army scouts roam the Nepalesecountryside to identify potential recruits, who then undergo a rigorous trainingprocess before joining. Service: Regarded as fierce and loyal, the Gurkhas are held in high esteem in the BritishArmy. They are enlisted not only in the infantry, but also in the engineeringcorps and as logisticians. Their signature weapon, the khukri, famous for theinwardly curved shape of its blade and its legendary utility, forms part of theGurkha regimental insignia in Britain as well as in India.Queen Elizabeth II of Britain is guarded by two personal Gurkha officers. FormerSingaporean Prime Minister Lee Kuan Yew is known to have preferred Gurkhapolice officers for his protection.Sources: Indian Express. 4/14
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