The Daily Brief – 26th July 2018

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For the first time Indian Air Force (IAF) will participate in multinational air exercise Pitch Black – 18 (PB-18) in Australia hosted by Royal Australian Air Force (RAAF). It will be three week multi-national large force employment exercise (27 July to 17 August 2018) conducted from RAAF Base Darwin and RAAF Base Tindal. Exercise Pitch Black is a biennial warfare exercise normally held in Northern Australia with an aim to practice Offensive Counter Air (OCA) and Defensive Counter Air (DCA) combat, in simulated war environment. The first Pitch Black exercises took place in 1981 between different RAAF units.
Banks and Financial Institutions (FIs) have signed Inter-Creditor Agreement (ICA) aimed at faster resolution of stressed assets of Rs. 50 crore or more which are under consortium lending. It has been signed by 22 public sector banks, 19 private sector banks and 32 foreign banks and 12 major financial intermediaries like LIC, HUDCO etc. ICA Framework is part of project ‘Sashak’. Under it, lead lender (having highest exposure) will be authorised to formulate resolution plan for operation turnaround of assets which will be presented to lenders for their approval.
World’s fastest rotor
World’s fastest rotor which will help in studying quantum mechanics has been developed by the Scientists. The rotor can spin at more than 60 billion revolutions per minute, making it world’s fastest man-made object. It is more than 100,000 times faster than a high-speed dental drill. The fastest rotor has many applications, including material science as it can help to survivability of different materials in extreme conditions.
The Union Ministry of Women and Child Development organised the 2nd meeting of National Council on India’s Nutrition Challenges under POSHAN Abhiyaan on July 24, 2018 in New Delhi. The meeting was chaired by the Vice Chairman of NITI Aayog, Rajiv Kumar. During the meeting, the National Council approved the inclusion of 32 new districts under POSHAN Abhiyaan in the current year. The WCD Ministry also released a caller tune and ring tone to popularise and connect with the Abhiyaan’s goal of Sahi Poshan Desh Roshan.
Four MoUs have signed by India and Uganda in the areas of defence cooperation, visa exemption for official and diplomatic passport holders, cultural exchange programme and material testing laboratory. The agreements were inked following delegation-level talks between Prime Minister Narendra Modi and Ugandan President Yoweri Museveni in Kampala. The four signed agreements are MoU on Defence Cooperation, MoU on Visa exemption for Diplomatic and official passport holder, MoU on Cultural Exchange Programme and MoU on Material Testing Laboratory. PM Modi visited Uganda on the second leg of his three-African nations- Rwanda, Uganda and Johannesburg-tour after concluding his Rwanda visit.
‘Green Mahanadi Mission’, a plantation drive under which 2 crore saplings will be planted along Mahanadi river and its tributaries has been launched by Odisha Chief Minister Naveen Paitnaik. The main objective of the mission is to stop soil erosion on river banks and recharge the groundwater reserve. It also aims to protect the Mahanadi River and keep it alive. Under this mission, more than 5 crore saplings will be planted over an area of 41,000 hectares along the banks of Mahanadi River and its tributaries Ib and Tel Rivers.
2018 Earth Overshoot Day will fall on August 1, the earliest date since ecological overshoot began in early 1970s. It is date when humanity annual demand on nature exceeds what Earth can regenerate over the entire year. It is calculated by Global Footprint Network and World Wide Fund for Nature (WWF). Every day after August 1 will now be considered as strain on Earth’s natural resources. In 2018, nature’s budget for entire year has already been used in 8 months only. Global Footprint Network is an international non-profit organization founded in 2003.
The Parliament has passed Prevention of Corruption (Amendment) Bill 2018 to enhance transparency and accountability of the government and make anti-graft provisions under the law stringent. The Bill amends various provisions of Prevention of Corruption Act (PCA), 1988. The Bill introduces the offence of giving a bribe as a direct offence. However, a person who is compelled to give a bribe will not be charged with the offence, if he reports the matter to law enforcement authorities within seven days. The Bill makes specific provisions related to giving a bribe to a public servant, and giving a bribe by a commercial organisation. The Bill redefines criminal misconduct to only cover misappropriation of property and possession of disproportionate assets.