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Important Current Affairs 14th August

NATIONAL:

RPF launched Operation Number Plate.

• Railway Protection Force (RPF) of Indian Railways launched Operation “Number Plate”, a Special Drive to curb unidentified vehicles. The operation was launched under the direction of DG/RPF, Sh.Arun Kumar. All Local Police and Commercial Department of Railways showed their active interest in the operation.

Aim:

The unidentified vehicles pose a serious threat to the security and safety of passengers and other stake holders of railway.

RPF will identify and verify all vehicles parked in Railway premises, circulating area, parkings and even in the No Parking areas for longer duration.

The drive was conducted from 9th August to 11th August at 466 Railway Stations all over Indian Railways. A penalty of Rs.59000 have been recovered as the charges for unauthorized parking and 549 vehicles were towed away.

All RPF and Zonal Railways were instructed to continue the activity looking into threats related to security of Railways.

State of Art Gallery at National Crafts Museum inaugurated.

• A Textiles Gallery at National Crafts Museum was inaugurated in New Delhi on 13 August by the Union Minister of Textiles and Women and Child Development, Smriti Zubin Irani.

Aim:

The collection aims to help people explore, enjoy, and rediscover the world of Indian textiles through design and technology.

Collections in the gallery:

The Gallery consists of more than 230 different types of textiles collections more than 30 traditions. Five zones were displayed in the gallery. Zones has been named as weaving, embroidery, dying (Ikatpatola), pattern (Bandhej, Kalamkari, and Leheria) and TanaBana based on the intricacies of the textiles.

The gallery exhibits the fine Indian Craftsmanship to public. The rich collection displayed the importance of conserving India’s rich heritage of handlooms for the next generations. It will serve as a resource centre for the students of fashion technology, apparel sciences and textiles designing.

Under three categories the handlooms were displayed:

Pre Loom “Ikat”: The design that are already visualized and transferred to the yarn before the yarn is placed on the loom.

On- Loom: The design enters the loom while weaving brocade, muslin, jamdani, weaved shawls, weaved sarees.

Post Loom: Displays the techniques that can be done on cloth after it is woven-block printing, embroidery and kalamkari comes in this category.

AGREEMENTS AND MOU’s:

Indian Navy signed MoU with CIAL.

• Naval Air Enclave (NAE), Kochi signed a memorandum of understanding (MoU) with Cochin International Airport Limited (CIAL) in a formal function held at CIAL. The agreement was signed by Captain Satish Kumar S, Officer-in-Charge, NAE and Shri ACK Nair, Airport Director CIAL.

The MoU was aimed with the commencement of naval air operations from the NAE, a naval aviation facility at CIAL in Nedumbassery. The MoU sets the standard operating procedures for CIAL and the Indian Navy. It also ensures safe, secure and uninterrupted military air operations.

About the Facility:

The facility will comprise of an independent dispersal, aircraft hangar, administrative building and taxy track. The facility will be located on the northwest side of CIAL. The Naval runway at INS Garuda is not enough for the landing and take-off of long-range maritime reconnaissance anti-submarine warfare aircraft. Hence, the CIAL runway will be used by the Military aircraft for take off and landing and the NAE taxy track for proceeding to and from the hangar.

BANKS AND ECONOMICS:

RBI launches regulatory sandbox for Fintech companies.

• The Reserve Bank of India (RBI) issued the final framework for regulatory sandbox (RS) for the startups, banks and financial institutions. The Fintech companies can now set up their own RS for live testing of innovative products in areas like retail payments, digital KYC and wealth management.

Aim:

The framework aims to enable innovations in the financial technology space. It will also foster responsible innovation in financial services, promote efficiency and bring benefit to consumers.

It will encourage innovations that are intended for use in the Indian market in areas where there is absence of governing regulations.

Eligibility to enter RS:

Fintech companies including startups, banks, financial institutions and any other company partnering with or providing support to financial services businesses.

Guidelines:

As per the guidelines:

Mobile technology applications, data analytics, application program interface (APIs) services, applications under block chain technologies, and artificial intelligence and machine learning applications can also be considered for testing under RS.

The sandbox entity should ensure that any existing obligations to the customers of the financial service under experimentation are fulfilled or addressed before exiting or discontinuing the RS.

Regulatory Sandbox (RS):

A regulatory sandbox refers to live testing of new products or services in a controlled/test regulatory environment. The regulators can permit certain regulatory relaxations for the limited purpose of the testing.

AWARDS:

Vir Chakra for Abhinandnan Varthaman who downed F-16 flying a MiG-21.

• Wing Commander Abhinandan Varthaman will be awarded the Vir Chakra, the country’s third highest war-time gallantry award, on Independence Day for shooting down a Pakistani F-16 during a dogfight over the Line of Control on February 27, two officials said on the condition of anonymity on Wednesday.

• The February 27 dogfight took place a day after the Mirage-2000s struck targets in Balakot in response to the Pulwama suicide attack in Kashmir in which 40 Central Reserve Police Force men were killed on February 14.

• Vir Chakra is India’s third-highest wartime gallantry award, after the Param Vir Chakra and the Maha Vir Chakra.