Anti-Satellite Test: Under Mission Shakti India completed its first successful attempt at shooting a satellite in lower earth orbit (LEO). In doing so, India has become the fourth country after the US, Russia and China to acquire the capability of space warfare. ASAT propels India to the coveted space-superpower league. India will now have the power to decimate satellites for pure military and strategic purpose. With this missile, India will have the capability to interfere with satellites or engage in direct attacks.
Core Sector Industries: The eight core sector industries include coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. The eight core industries comprise nearly 40% of the weight of items included in the Index of Industrial Production (IIP). The eight Core Industries in decreasing order of their weightage: Refinery Products> Electricity> Steel> Coal> Crude Oil> Natural Gas> Cement> Fertilizers.
Credit default swap: It is an example of a credit derivative transaction where credit protection is bought and sold. In a Credit Default Swap (CDS), one party agrees to pay another party periodic fixed payments in exchange for receiving ‘credit event protection’, in the form of a payment, in the event that a third party or its obligations are subject to one or more pre-agreed adverse credit events over a pre-agreed time period. Typical credit events include bankruptcy, failure to pay, obligation acceleration, restructuring, and repudiation/moratorium.
Geostationary Orbit: About 35,786 kilometers above the Earth’s surface, satellites are in geostationary orbit. From the center of the Earth, this is approximately 42,164 kilometers. This distance puts it in the high Earth orbit category. At any inclination, a geosynchronous orbit synchronizes with the rotation of the Earth. More specifically, the time it takes for the Earth to rotate on its axis is 23 hours, 56 minutes, and 4.09 seconds, which is the same as a satellite in a geosynchronous orbit. If you are an observer on the ground, you would see the satellite as if it’s in a fixed position without movement. This makes geosynchronous satellites particularly useful for telecommunications and other remote sensing applications.
OIC: The Organisation of Islamic Cooperation (OIC) is the second largest intergovernmental organization after the United Nations with a membership of 57 states.It is the collective voice of the Muslim world. It endeavors to safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony among various people of the world. India is not a member of the OIC. However, India was invited as a guest of honour at 46th Session of the Council of Foreign Minister in 2019. 2019 is the 50th anniversary of OIC.
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