Current Affairs

 The National Aeronautics and Space Administration (Nasa) on Sunday blasted off a $1.5 billion spacecraft toward the Sun on a historic mission to protect the Earth by unveiling the mysteries of dangerous solar storms.
Source- Livemint

 Axis Bank became first bank in the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions through its micro ATM tablets. These micro ATM tablets are Standardisation Testing and Quality Certification (STQC) certified and UIDAI compliant registered devices with completely integrated iris sensors.
  • How it works?
The transaction process through iris scan is very simple. Customer need to select desired service (funds transfer, cash withdrawal) and feed-in their Aadhaar numbers in micro ATM. Next, they have to choose IRIS as desired mode of authentication. Verification will be done by scanning eyes of customers through tablet’s iris sensor camera in 3-5 seconds. The transaction will be completed after biometric details are verified from UIDAI database. Axis Bank is presently running pilot program of iris-based Aadhaar authentication for its customers at eight branches in rural segment largely covering areas of Punjab, Haryana, Gujarat and Andhra Pradesh. It is also exploring its application for varied services such as loan processing, insurance, eKYC account opening and others, most likely extending to the semi-urban and urban regions as well.
  • Significance
Iris scan technology is completely contactless and provides up to 98.2% authentication success rate and offers edge over other prevalent biometric modes. It will help to boost bank’s financial inclusion efforts by making Aadhaar authentication process hassle-free and offering easier access to digital banking for consumers especially in rural parts of the country. Micro ATMs completely eliminate requirement of debit cards, passwords, PINs, and user IDs, and empower consumers to avail banking services using only their Aadhaar numbers and biometrics (iris scan or fingerprint scan).

 According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) had 7% in June 2018, five-month high. This was on account of higher output in mining, manufacturing and power generation segments. Moreover, CSO also revised IIP upwards for May 2018 at 3.9% from previous estimate of 3.2% estimated earlier. The cumulative IIP growth for period April-June 2018 was 5.2% over corresponding period of previous year. The manufacturing sector in June 2018 grew by 6.9%, as against decline of 0.7% in the year-ago month. Power generation segment grew by 8.5% in June against 2.1% growth year ago. The mining sector output recorded 6.6% growth in June against 0.1% in June 2017.
  • Index of Industrial Production (IIP)
IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation. Base year: The CSO had revised the base year of the IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy and improves quality and representativeness of indices. The revised IIP (2011-12) reflects changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP). Sector wise items and weightages: IIP covers 407 item groups. Sector wise, the items included falls into 3 categories viz. Manufacturing (405 items), Mining (1 items) & Electricity (1 item). The weights of the three sectors are 77.63%, 14.37%, 7.9% respectively. The revised combined weightage of eight core Industries in the IIP is 40.27%.

 As part of Shanghai Cooperation Organization (SCO) initiatives, SCO Peace Mission Exercise is conducted biennially for SCO member states. The joint exercise for the year 2018 will be conducted by Central Military Commission of Russia from 22 August to 29 August 2018 at Chebarkul, Chelyabinsk, Russia. This will be a historic occasion due to the maiden participation of India post becoming a full member of the SCO in June 2017. This exercise marks a major milestone in the multilateral relations of SCO member nations. 
Source- Press Information Bureau (PIB)

 An MoU has been signed between the Ministry of Health & Family Welfare (MoHFW) and Ministry of Tribal Affairs (MoTA), Government of India  for cooperation between the two Ministries for sensitizing the principals and training to teachers each of all functional EMRSs, Ashram Schools and other Schools supported by MoTA in the country using the existing infrastructure of MoTA in the states. The MoU covers various activities including extending all aspects of the School Health Program viz., providing weekly Iron and Folic Acid Supplementation, biannual de-worming, basic first aid and health promotion activities through teachers designated as Health and Wellness Ambassadors at the school level in all functional EMRSs, Ashram Schools and other Schools supported by MoTA in the states. 
Source- DD News

 Justice Rajendra Menon was sworn in as the new Chief Justice of the Delhi High Court by Lt Governor Anil Baijal at a ceremony held at the Raj Niwas in New Delhi. Justice Menon was earlier the Chief Justice of Patna High Court. He succeeded Justice Gita Mittal, who was elevated to head the Jammu and Kashmir High Court. 
Source- NDTV News

 Bajaj Allianz General Insurance has entered into a bancassurance deal with Vijaya Bank. This corporate agency agreement will enable distribution of Bajaj Allianz General Insurance products through the bank’s network of 2,129 branches across the country. Under this strategic tie-up, Bajaj Allianz General Insurance will offer personal lines of insurance products such as health, personal accident, home, motor and travel along with a commercial line of insurance products.
Source- The Moneycontrol

 Axis bank has become the first bank in the country to introduce Iris Scan Authentication feature for Aadhaar -based transactions through its micro ATM tablets. This is being run as a pilot project in 8 branches of rural Punjab, Haryana, Gujarat and Andhra Pradesh.
Source- The Livemint

 Defence Minister Nirmala Sitharaman and Uttar Pradesh Chief Minister Yogi Adityanath launched a defence industrial corridor in Aligarh, Uttar Pradesh. The move is part of the government’s efforts to develop specialised zones dedicated to defence production in the state. Six nodal points, Agra, Aligarh, Lucknow, Kanpur, Chitrakoot and Jhansi have been identified in state for the corridor. There will be an exhibition of products by the armed forces, defence public sector undertakings and DRDO which are planned to be indigenised over the next five years. Another defence corridor was also launched in Tamil Nadu. 
Source- DD News

 The Minister of State for Culture (I/C) and Minister of State for Environment Forest and Climate Change, Dr. Mahesh Sharma inaugurated an exhibition entitled ‘Prathibandhit Sahitya mein Swatantrata Sangram’(Freedom Movement through Proscribed Literature) in the premises of National Archives of India, in New Delhi. The Exhibition was based on the unique collection of proscribed literature in its possession. This exhibition of proscribed literature was from vast collection of poetry and prose that portrays the nationalistic fervour prevalent in the days of freedom struggle. There were about 55 such proscribed literatures displayed in the Exhibition. 
Source- Press Information Bureau (PIB)


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