Home Daily Current Affairs Sep 16, 2021

Sep 16, 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.

G-33 group of developing countries

India has finally decided to co-sponsor a proposal made by the G-33 group of developing countries on a permanent solution for allowing public stockholding subsidies without limits at the WTO.

The G33 (or the Friends of Special Products in agriculture) is a coalition of developing countries, established prior to the 2003 Cancun ministerial conference, that have coordinated during the Doha Round of World Trade Organization negotiations, specifically in regard to agriculture.

Dominated by India, the group has "defensive" concerns regarding agriculture in relation to WTO negotiations, and seeks to limit the degree of market opening required of developing countries.


What is "Stablecoin" ?

Stablecoins are a type of cryptocurrency linked to an asset like the U.S. dollar that doesn't change much in value.

The majority of the dozens of stablecoins that currently exist use the dollar as their benchmark asset, but many are also pegged to other fiat currencies issued by governments like the euro and yen.

As a result, the price of stablecoins fluctuates very little, unlike high-profile cryptocurrencies like bitcoin and ethereum that are prone to sudden ups and downs.

The first stablecoin, created in 2014, was Tether, which many other stablecoins are modeled after.

Users receive one token for every dollar they deposit. In theory, the tokens can then be converted back into the original currency at any time, also at a one-for-one exchange rate.


World's longest expressway

The 1380-km eight-lane Delhi-Mumbai Expressway will reduce travel time between certain cities to 12-12.5 hours from 24 hours.

The project is being built at a cost of Rs 98,000 crore and scheduled to be completed by March 2023.

Social Issues

World's largest tree

The General Sherman tree is the world;s largest in terms of volume and exists in the Sequoia National Park in the Sierra Nevada, California (US).

As per recent estimates, General Sherman is about 2,200 years old.

It stands at a height of 275 feet and has a diameter of 36 feet at the base.

Social Issues