Surety Bond: Union Minister for Road Transport and Highways launched one of India’s first-ever Surety Bond Insurance product from Bajaj Allianz.
A surety bond can be defined in its simplest form as a written agreement to guarantee compliance, payment, or performance of an act.Surety is a unique type of insurance because it involves a three-party agreement. The three parties in a surety agreement are:
Principal – the party that purchases the bond and undertakes an obligation to perform an act.
Surety – the insurance company that guarantees the obligation will be performed. Obligee – the party who requires, and often receives the benefit of. For most surety bonds, the obligee is a local, state or federal government organization.
Surety bond is provided by the insurance company on behalf of the contractor to the entity which is awarding the project.
Black Carbon: Black carbon is a kind of an aerosol.
An aerosol is a suspension of fine solid particles or liquid droplets in the air.
Among aerosols (such as brown carbon, sulphates), Black Carbon (BC) has been recognized as the second most important anthropogenic agent for climate change and the primary marker to understand the adverse effects caused by air pollution.
It gets emitted from gas and diesel engines, coal-fired power plants, and other sources that burn fossil fuel. It comprises a significant portion of particulate matter or PM, which is an air pollutant.
Ocean Sailing Expedition: Indian Naval Sailing vessel (INVS) Tarini has set sail for an expedition to Cape Town, South Africa for participating in the 50th edition of Cape to Rio Race 2023. The race is one of the most prestigious Trans-Atlantic ocean races. The expedition is being undertaken by an Indian Navy crew of five officers including two women officers.
The expedition aims to train the crew onboard, in essential seamanship skills including Navigation, Communication, Technical, Planning, etc. Ocean sailing is an extremely tough adventure sport. Accordingly, Indian Navy has been regularly participating in sailing expeditions like Sagar Parikrama, IONS 10th anniversary and Bay of Bengal sailing expeditions.
National Informatics Centre: NIC provides network backbone and e-Governance support to the Central Government, State Governments and UT Administrations.NIC has been closely associated with the Government in different aspects of Governance besides establishing a Nationwide State-of-the-Art information and communication technology (ICT) Infrastructure.It is under the aegis of the Ministry of Electronics and Information Technology
It was established in 1976 and is located in New Delhi.
Climate Change Performançe Index: The Climate Change Performance Index 2023 report was released recently and India secured 8th position in the index which is 2 positions up from the last edition. The top three places i.e 1-3 are vacant.Thus India’s rank is the best amongst the G20 countries. Published by:Germanwatch, the New Climate Institute and the Climate Action Network annually since 2005.Denmark, Sweden, Chile and Morocco were the only four small countries that were ranked above India as 4th, 5th, 6th and 7th respectively.
The ranking given by CCPI places India as the only G-20 country in the top 10 rankers.
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