India has tested the indigenous anti-submarine rocket systems.
About ERASR
- ERASR is a totally indigenous anti-submarine rocket used to combat submarines and fired from onboard of Indian Naval Ships.
- It has twin-rocket motor configuration to meet a wide spectrum of range requirements with high accuracy and consistency.
- It uses an indigenously developed Electronic Time Fuze.
- Designed and developed by DRDO’s Armament Research & Development Establishment (ARDE), Pune.
Recently, Defense Ministry called indigenously-made Advanced Towed Artillery Gun Systems (ATAGS) project an "exemplary mission mode success".
About ATAGS
- Designed by: Armament Research and Development Establishment (ARDE), Pune, a laboratory of DRDO.
- It is a large gun that can fire guided missiles for accurate long-distance attacks.
- Uses an electric system that needs less maintenance and works reliably for a long time.
- It also features an Automatic Ammunition Handling System, including Crane.
A Bridge collapsed in Gujarat over Mahi River.
About Mahi River
- Type: Major west-flowing interstate river. Also known as Mahisagar due to its vastness.
- Origin: Northern slope of the Vindhyas, near Sardarpur, Dhar district, Madhya Pradesh.
- Empties Into: Gulf of Khambhat, Arabian Sea.
- Interstate river: Madhya Pradesh, Rajasthan, and Gujarat.
- Topographical Boundaries
- North & North-West: Aravalli Hills
- East: Ridge separating it from Chambal Basin
- South: Vindhya Range
- West: Gulf of Khambhat
- Distinct Characteristics:
- One of the few rivers in India that flows across the Tropic of Cancer twice.
- Forms a zigzag course unlike other west-flowing rivers.
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Recently, ‘Nistar’, the first indigenously designed and constructed Diving Support Vessel, was delivered to the Indian Navy.
About INS Nistar
- It is installed with state-of-the-art Diving Equipment with capability to undertake Deep Sea Saturation Diving up to 300 m depth.
- It has a Side Diving Stage for undertaking Diving Operations up to 75 m depth.
- It will serve as ‘Mother Ship’ for the Deep Submergence Rescue Vessel (DSRV), to rescue and evacuate personnel.
- It is equipped with a combination of Remotely Operated Vehicles to undertake Diver Monitoring and Salvage Operations up to a depth of 1000 m.
Scientists extracted 18-20 million-year-old proteins from tooth enamel of extinct mammals found in Lake Turkana.
About Lake Turkana (Lake Rudolf or Jade Sea)
- Location: Mainly in Northern Kenya, with some part in Ethiopia.
- Africa’s 4th largest lake by surface area and the world’s largest permanent desert lake.
- Lake Turkana National Parks, including the lake, are designated World Heritage Sites.
- Only perennial tributary: Omo River
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A relatively new type of financial instrument, Cat bonds can help in planning natural disasters.
About Cat Bonds
- It is a financial instrument that transfers catastrophic insurance risk to investors, who receive high yields but may lose their principal if a specific disaster occurs.
- It could include earthquakes, hurricanes, floods, and other extreme events.
- Investors can receive high yields, but lose their principal if a predefined natural disaster occurs before the bond matures.
- Climate change and the increased frequency of natural disasters are making Cat Bonds more important in the insurance industry.
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The Finance Minister said Non-banking financial institutions (NBFCs) are no longer shadow banks.
About Shadow Banking
- It refers to a network of financial intermediaries and institutions that operate outside the traditional banking system. These are not subject to the same regulatory oversight as conventional banks.
- Issues: Lack of transparency and the potential for increased systemic risk.
- Role: It plays a significant role in the global financial system by providing credit and liquidity to various sectors.
- Example: Money Market Funds, Hedge Funds, Private Equity Funds, Securitization and Asset-Backed Securities.
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The Kerala government has sought compensation for environmental damage under Admiralty Act, 2017 for sinking of a ship.
About the Act
- Application: To every vessel, irrespective of the place of residence or domicile of the owner.
- Types of maritime claims covered: Damage to ships, Ownership and agreement disputes, Loss of life at sea, Wage issues for maritime workers, Environmental damage.
- The jurisdiction: Should vest in the respective High Courts.
- Covers compensation for damage, removal measures, and remediation costs
- Enables ship arrest (detention) until claims are settled or security is provided.
