Oil Bonds: An oil bond is a promissory note issued by the government to the oil marketing companies (OMCS), in lieu of cash that government owes them.N When fuel prices are high for consumers, government directs oil marketing companies (OMCS) to charge consumers less prices and the balance is to be paid by the government. However, if government pays in cash, it would have to tax the same people to collect the money to pay.
El Nino Modoki: El Niño Modoki is a coupled ocean-atmosphere phenomenon in the tropical Pacific.It is different from another coupled phenomenon in the tropical Pacific namely, El Niño. El Niño Modoki is associated with strong anomalous warming in the central tropical Pacific and cooling in the eastern and western tropical Pacific. Such zonal gradients result in anomalous two-cell Walker Circulation over the tropical Pacific, with a wet region in the central Pacific.
Schengen Area: EU has reportedly decided to “punish” the UK by requiring non-EU citizens to get a transit Schengen visa to fly to the UK on transit flights operated by its airlines. A Schengen visa is a short-term visa that allows its holder to travel freely throughout the Schengen area. Schengen Area signifies a zone where 26 European countries, abolished their internal borders, for the free and unrestricted movement of people. These countries are Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
‘Tree City of the World’ (TCW) Tag: Mumbai and Hyderabad have been jointly recognised as ‘2021 TCW’!TCW programme started by United Nations’ Food and Agriculture Organisation and American non-profit organisation Arbor Day Foundation. It provides direction, assistance, and worldwide recognition for a community’s dedication to its urban forest.Also, provides framework for healthy, sustainable urban forestry programme in town or city.City was evaluated based on five standards i.e. Establish Responsibility, Set the Rules, Know What You Have, Allocate the Resources, and Celebrate the Achievements.
CHAMPIONS Portal:The CHAMPIONS stands here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.It is a technology driven Control Room-Cum-Management Information System which utilises modern information and communication technology (ICT) tools.In addition to ICT tools including telephone, internet and video conference, the system is enabled by Artificial Intelligence, Data Analytics and Machine Learning.It is also fully integrated on a real time basis with the Government of India’s main grievances portal Centralized Public Grievances Redress and Monitoring System (CPGRAMS) and the Ministry’s other web based mechanisms.The entire ICT architecture is created in house with the help of the National Informatics Centre.A network of control rooms is created in the Hub & Spoke Model.The Hub is situated in New Delhi in the Secretary MSME’s office.The spokes will be in the States in various offices and institutions of the Ministry.Aim: To assist Indian MSMEs march into the big league as National and Global CHAMPIONS by solving their grievances and encouraging, supporting, helping and hand holding them.Three basic objectives:
- Support: To help the MSMEs in this difficult situation in terms of finance, raw materials, labour, permissions, etc.
- Explore: To help them capture new opportunities like manufacturing of medical accessories and products like Personal Protection Equipments (PPEs), masks, etc.
- Promote: To identify the sparks, i.e., the bright MSMEs who can not only withstand but can also become national and international champions.
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