{"id":14350,"date":"2021-03-13T00:00:00","date_gmt":"2021-03-13T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/13-03-2021\/facts-in-news-99\/"},"modified":"2021-03-13T00:00:00","modified_gmt":"2021-03-13T00:00:00","slug":"facts-in-news-99","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/13-03-2021\/facts-in-news-99","title":{"rendered":"Facts in News"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n
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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Facts in News<\/h2>\n<\/td>\n<\/tr>\n

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Vaccine Efficacy\/Effectiveness (VE) Measurement<\/h3>\n<\/td>\n

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    \n
  • VE measures the proportionate reduction in cases among vaccinated persons<\/strong>.<\/li>\n
  • Vaccine efficacy<\/strong> is used when a study is carried out under ideal conditions, for example, during a clinical trial.<\/li>\n
  • Vaccine effectiveness<\/strong> is used when a study is carried out under typical field (that is, less than perfectly controlled) conditions.\n
      \n
    • The basic formula<\/strong> is\n
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      • Risk among unvaccinated group \u2212 risk among vaccinated group<\/strong> divided by Risk among unvaccinated group<\/strong> OR 1 \u2212 risk ratio<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
      • The greater the percentage reduction of illness<\/strong> in the vaccinated group, the greater the vaccine efficacy\/effectiveness<\/strong>.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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Index of Industrial Production (IIP)<\/h3>\n<\/td>\n

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    \n
  • As per Quick Estimates released by National Statistical Office (NSO) in the Ministry of Statistics and Programme Implementation (MoSPI)<\/strong>, IIP for January 2021 has contracted by 1.6%.<\/li>\n
  • It is an index which shows the growth rates in different industry groups of the economy in a stipulated period of time.<\/li>\n
  • Computed and published by the NSO (previously<\/strong> Central Statistical Organisation (CSO))<\/strong> on a monthly basis.<\/li>\n
  • The Eight Core Industries <\/strong>comprise 40.27 per cent of the weight of items included in the IIP.<\/strong><\/li>\n
  • IIP is a composite indicator<\/strong> that measures the growth rate of industry groups<\/strong> classified under,\n
      \n
    • Broad sectors<\/strong>:\n
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      • Mining<\/li>\n
      • Manufacturing (Constitutes 77.6% of IIP)<\/li>\n
      • Electricity<\/li>\n<\/ul>\n<\/li>\n
      • Use-based sectors<\/strong>, namely Basic Goods, Capital Goods and Intermediate Goods.<\/li>\n<\/ul>\n<\/li>\n
      • Base Year: 2011-2012<\/strong>.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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Inflation<\/h3>\n<\/td>\n

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    \n
  • Inflation:<\/strong> Inflation is the decline of purchasing power of a given currency over time.\n
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    • A quantitative estimate of the rate at which the decline in purchasing power occurs can be reflected in the increase of an average price level of a basket of selected goods and services in an economy over some period of time.<\/li>\n
    • The rise in the general level of prices, often expressed as a percentage, means that a unit of currency effectively buys less than it did in prior periods.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

      <\/strong><\/p>\n

        \n
      • Inflation can be contrasted with deflation, which occurs when the purchasing power of money increases and prices decline.<\/li>\n
      • CPI based Inflation is also known as Retail Inflation and tracks retail prices of goods and services which households purchase for their daily consumption.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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AT-1 Bonds<\/h3>\n<\/td>\n

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  • AT-1 stands for Additional Tier-1 bonds.<\/li>\n
  • They are a type of unsecured, perpetual bonds<\/strong> that banks issue to shore up their core capital <\/strong>base to meet the Basel-III norms.<\/li>\n
  • AT-1 bonds are annual coupon-bearing bonds<\/strong> that have no fixed maturity date<\/strong>.<\/li>\n
  • The interest rate on these bonds is higher than fixed deposit rates <\/strong>which make them an attractive investment option. <\/strong><\/li>\n
  • The holders of these bonds can get their investments back by selling them in the secondary debt market unless the issuer redeems them.<\/li>\n<\/ul>\n

    \u00a0<\/p>\n

    What are Basel Norms?<\/strong><\/p>\n

    \u00a0<\/p>\n

      \n
    • Basel is a city in Switzerland<\/strong>. It is the headquarters of the Bureau of International Settlement (BIS),<\/strong> which fosters cooperation<\/strong> among central banks with a common goal<\/strong> of financial stability <\/strong>and common standards of banking regulations<\/strong>.<\/li>\n
    • Basel guidelines refer to broad supervisory standards<\/strong> formulated by this group of central banks called the Basel Committee on Banking Supervision (BCBS).<\/strong><\/li>\n
    • The set of the agreement by the BCBS mainly focuses on risks to banks and the financial system <\/strong>is called the Basel accord<\/strong>.<\/li>\n
    • The purpose of the accord is to ensure that financial institutions<\/strong> have enough capital<\/strong> on account to meet obligations and absorb<\/strong> unexpected losses<\/strong>.<\/li>\n
    • India has accepted Basel accords for the banking system.<\/li>\n
    • Basel III norms were a set of rules that banking regulators around the world came up with after the global financial crisis in 2008, to strengthen bank balance sheets.<\/strong><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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PCA Framework<\/h3>\n<\/td>\n

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    \n
  • Prompt Corrective Action or PCA is a framework under which banks with weak<\/strong> financial metrics<\/strong> are put under<\/strong> watch <\/strong>by the RBI. <\/strong><\/li>\n
  • RBI initiated the Scheme of Prompt Corrective Action (PCA)<\/strong> in 2002<\/strong> to discipline banks<\/strong> when they report poor and risky financial performance<\/strong>.<\/li>\n
  • The PCA framework deems banks as risky if they slip below certain norms<\/strong> on three parameters \u2014 capital ratios, asset quality and profitability.<\/strong><\/li>\n<\/ul>\n

    Relevance<\/strong><\/p>\n

      \n
    • As most bank activities are funded by deposits<\/strong> that need to be repaid, it is imperative that a bank carries a sufficient amount of capital to continue its activities<\/strong>.<\/li>\n
    • PCA is intended to help alert the regulator<\/strong> as well as investors and depositors<\/strong> if a bank is heading for trouble.<\/li>\n
    • It aims to check the problem of Non-Performing Assets (NPAs) in the Indian banking sector.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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Sahitya Akademi Award<\/h3>\n<\/td>\n

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  • The Sahitya Akademi award<\/strong> established in 1954, is a literary honour<\/strong>.<\/li>\n
  • It is conferred by Sahitya Akademi <\/strong>which is India\u2019s National Academy<\/strong> of Letters<\/strong>.<\/li>\n
  • The Sahitya Akademi Award prizes the most outstanding books<\/strong> of literary merit <\/strong>published in any of the major Indian languages recognised by the Akademi<\/strong>.<\/li>\n<\/ul>\n

    \u00a0<\/p>\n

    Sahitya Akademi<\/strong><\/p>\n

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    • It is an autonomous organization under the Ministry of Culture, <\/strong>encourages the preservation<\/strong> and promotion of languages<\/strong>, especially the unrecognized and tribal languages.<\/strong><\/li>\n
    • The Sahitya Akademi Library is one of the largest multi-lingual libraries<\/strong> in India, with a rich collection of books on literature and allied subjects.<\/li>\n
    • It publishes two bi-monthly literary journals: Indian Literature in English and Samkaleen Bharatiya Sahitya in Hindi.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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Benzene Pollution<\/h3>\n<\/td>\n

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    \n
  • Benzene is a colourless or light-yellow chemical<\/strong> that is liquid at room temperature.<\/li>\n
  • It has a sweet odour and is highly flammable<\/strong>.<\/li>\n
  • Benzene is formed from both natural processes and human activities.<\/li>\n
  • Benzene can quickly evaporate into the air and be carried over long distances. If it is released into soil it can break down quickly and may contaminate groundwater.<\/li>\n
  • Prime Sources<\/strong>:\n
      \n
    • Glue, cigarettes, cleaning products, paint strippers and some art supplies such as ink and paint.<\/li>\n
    • Oil and gas extraction<\/li>\n
    • Rubber, oil, chemicals, footwear and petrol<\/li>\n
    • It can occur naturally in the environment. It is emitted into the atmosphere by\n
        \n
      • Erupting volcanoes,<\/li>\n
      • From the smoke of forest fires<\/li>\n
      • Some plants and animals.<\/li>\n<\/ul>\n<\/li>\n
      • Benzene is found in petrol and oil\n
          \n
        • It can be released into the atmosphere by buses, cars, motorbikes, trains and aeroplanes.<\/li>\n
        • It can be emitted in exhaust fumes, and by evaporation of fuels from machinery, motors and petrol tanks.<\/li>\n<\/ul>\n<\/li>\n
        • Benzene is also used as a solvent for grease and oil.<\/li>\n<\/ul>\n<\/li>\n
        • Dangers due to Benzene Pollution<\/strong>\n
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          • Secondary Pollutants: Can create Smog<\/li>\n
          • Effects on the bone marrow and can cause a decrease in red blood cells, leading to anemia<\/li>\n
          • Decreased Immunity<\/li>\n
          • Death on exposure to excess concentration<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

            \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Facts in News Vaccine Efficacy\/Effectiveness (VE) Measurement VE measures the proportionate reduction in cases among vaccinated persons. Vaccine efficacy is used when a study is carried out under ideal conditions, for example, during a clinical trial. Vaccine effectiveness […]<\/p>\n","protected":false},"author":1,"featured_media":14351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[30,26,25],"class_list":["post-14350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-2","tag-gs-3","tag-gs1"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/2634688current-affairs (1).jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=14350"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/14351"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=14350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=14350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=14350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}