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