Home Daily Current Affairs Sep 05, 2021

Sep 05, 2021: Current affairs for UPSC/State PSC

This section contains daily current affairs taken from all major news papers and magazines like - The Hindu, Indian Express, PIB, Live Mint, RSTV etc.

These current affairs are written in a easy to remember format and are useful for competitive exams like - UPSC Civil Services, UPPSC, BPSC, MPPPSC, State PSCs and other competitive examinations.

Singapore-India Maritime Bilateral Exercise (SIMBEX)

India and Singapore have carried out a mega naval wargame in the southern fringes of the South China Sea , in reflection of their growing congruence of interests in the strategically key region.

It was the 28th edition of the Singapore-India Maritime Bilateral Exercise (SIMBEX).

Initiated in 1994, SIMBEX is the Indian Navy's longest uninterrupted bilateral maritime exercise with any foreign navy.

Both navies have a representation in each other's Maritime Information Fusion Centres and have also recently signed an agreement on mutual submarine rescue support and coordination.


What is "INSPIRESat-1 CubeSat" ?

INSPIRESat-1 CubeSat, developed under the International Satellite Program in Research and Education (INSPIRE), is ready for launch aboard an upcoming PSLV mission of ISRO.

The small satellite that weighs less than 10 kg will be launched aboard an upcoming Polar Satellite Launch Vehicle (PSLV) mission of the Indian Space Research Organisation (ISRO).

INSPIRESat-1, a small satellite (10 Kg) is a collaborative effort by:

1) The Laboratory for Atmospheric and Space Physics (LASP) at the University of Colorado Boulder in the U.S..
2) The National Central University, Taiwan.
3) The Nanyang Technological University in Singapore and,
4) The Indian Institute of Space Science and Technology (IIST), India.

The satellite, which will be placed in a low earth orbit, is equipped with a Compact Ionosphere Probe for studying the earth's ionosphere. A constellation of earth and space-weather observation satellites is envisaged under the INSPIRE programme.

IIST students were responsible for the design and development of the onboard computer and the electrical power supply for INSPIRESat-1.

Science & Tech

What is "Karbi Agreement, 2021" ?

Moving to end decades of violence in Karbi Anglong in Assam, the Centre signed a tripartite agreement with five insurgent groups from the region and the state government.

The agreement grants greater devolution of autonomy to the Karbi Anglong Autonomous Council apart from providing protection to the language, culture and identity of the region and reservation to the Karbi people.

The consolidated fund of the state would be augmented to supplement the development of the region.

A special development package of Rs 1000 crore over five years will be provided for projects there.

This accord will grant Scheduled Tribe status to Karbi staying in the plains as well.

Located in central Assam, Karbi Anglong is the state's largest district and a melting pot of ethnicities and tribal groups - Karbi, Dimasa, Bodo, Kuki, Hmar, Tiwa, Garo, Man (Tai speakers), Rengma Naga.

Karbi Anglong's diversity also spawned different outfits and fuelled an insurgency that did not allow the region to develop. This agreement hopes to put that in the past.

The Karbi have been demanding a separate state since 1946. Later, their movement took the shape of an insurgency which intensified in the 1990s.


INSPIRE Awards - MANAK scheme

The 8th National Level Exhibition and Project Competition (NLEPC) for the INSPIRE Awards - MANAK (Million Minds Augmenting National Aspiration and Knowledge) showcased the innovative ideas from 581 students.

The INSPIRE Awards - MANAK scheme is aligned with the Start-up India initiative launched by the Prime Minister of India.

The scheme aims to motivate students inthe age group of 10-15 years and studying in classes 6 to 10 to become future innovators and critical thinkers.

Social Issues

Financial Stability and Development Council (FSDC)

The high-level FSDC headed by Finance Minister Nirmala Sitharaman discussed a host of issues concerning the economy and underlined the need for keeping a continuous vigil on the financial sector by the government as well as different regulators.

Financial Stability and Development Council (FSDC) is a not-statutory apex-level body constituted in 2010 by the government of India.

The idea to create such a super regulatory body was first mooted by the Raghuram Rajan Committee in 2008.

The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation' of economy.

No funds are separately allocated to the council for undertaking its activities.

The Chairman of the Council is the Union Finance Minister and its members include - the heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC), Finance Secretary and/or Secretary, Department of Economic Affairs, Secretary, Department of Financial Services, and Chief Economic Adviser.

The Council can invite experts to its meeting if required.

Responsibilities: Financial Stability, Financial Sector Development, Inter-Regulatory Coordination, Financial Literacy, Financial Inclusion, Macro prudential supervision of the economy including the functioning of large financial conglomerates.

Coordinating India's international interface with financial sector bodies like the Financial Action Task Force (FATF), Financial Stability Board (FSB) etc.


What is "Durand Line" ?

Durand Line is the 2,670-kilometre long international land border between Afghanistan and Pakistan.

The agreement demarcating the Durand Line was signed on November 12, 1893 between the British civil servant Sir Henry Mortimer Durand and Amir Abdur Rahman, then the Afghan ruler.

The line cut through Pashtun tribal areas on both sides of the border.

The line stretches from the Afghanistan's border with China to Afghanistan's border with Iran.

With independence in 1947, Pakistan inherited the Durand Line.

International Relations