Current Affairs 2nd February 2019

Current Affairs 2nd February 2019 - Important Points

• Lithium-ion cell technology Transfer by ISRO to - Organisations
• Horticulture Production in India published by - The Ministry of Agriculture & Farmers Welfare
• Prompt Corrective Action framework restrictions lifted for 3 Banks by - RBI
• Aero India 2019 organizing in - Bengaluru
• Start-up India, a WhatsApp Grand Challenge declared by - Facebook

Current Affairs 2nd February 2019 - Details

Lithium-ion cell technology Transfer by ISRO to - Organisations

Indian Space Research Organisation has finalised 10 organisations for the Lithium-ion cell technology Transfer following the examination of Request for Qualification which confined a brief description of the qualification aspects, technology transfer process, timelines &  other appropriate details.
Organisations Selected for Technology Transfer
The organisations selected by Indian Space Research Organisation for the technology transfer are:
Amara Raja Batteries Limited, at Chittoor.
Bharat Electronics Limited, at Pune.
Carborundum Universal Limited, at Kochi.
Exicom Tele-Systems Limited, at Gurgaon.
GOCL Corporation Limited, at Hyderabad.
Jyoti CNC Automation Limited, at Rajkot.
National Aluminium Co Limited, at Bhubaneswar.
Sukhbir Agro Energy Limited, at New Delhi.
Tata Chemicals Limited, at Mumbai.
Thermax Limited, at Pune.
Lithium-ion cell technology
The Lithium-ion cell technology has been established by Vikram Sarabhai Space Centre.
Following the effective deployment of indigenous lithium-ion batteries in various missions of Indian
Space Research Organisation, the Vikram Sarabhai Space Centre will now handover the technology to
the industries to establish production amenities for producing lithium-ion cells to cover the whole
spectrum of power storage necessities of the nation.
The progress in Li-ion battery technology research has made it the favourite energy source for electric & hybrid electric automobiles owing to its high voltage, high energy density, long lifecycle & high storage features.

Horticulture Production in India published by - The Ministry of Agriculture & Farmers Welfare

The Ministry of Agriculture and Farmers Welfare has published the final estimations for 2017-18 & the 1st estimations for 2018-19 of area & production of horticulture produces.
Findings from the Estimations

• India’s horticulture production is projected to increase by 1% to record 314.67 million tonnes in 2018-19 on the higher area.
• The final estimations of the 2017-18, horticulture production reached at record 311.7 million tonnes, which is 3.7% higher than the earlier year & 10% higher than the last 5 years.
• The estimations put forward that area under coverage augmented to 25.87 million hectares from 25.43 million hectares.
• The Production of Onion in year 2018-19 is probable to be about 23.62 million tonnes as against 23.26 million tonnes in 2017-18.
• The Production of Potato in year 2018-19 is probable to be about 52.58 million tonnes as against 51.31 million tonnes in 2017-18.
• The Production of Tomato in year 2018-19 is probable to be about 20.51 million tonnes as against 19.76 million tonnes in last 2017-18.
• The production of fruits is projected to be around 97.35 million tonnes & that of vegetables at about 187.5 million tonnes.

Prompt Corrective Action framework restrictions lifted for 3 Banks by - RBI

The Reserve Bank of India has elevated the Prompt Corrective Action- PCA framework operational
verges on Bank of India, Bank of Maharashtra & Oriental Bank of Commerce.
These public sector banks are out of the Prompt Corrective Action framework. This will benefit in making marked developments in the capital positions & asset excellence.
The Prompt Corrective Action restrictions were elevated following these banks provided a written
commitment that they would comply with the guidelines of Minimum Regulatory Capital, net Non-
performing Assets and leverage ratio on a constant basis. These Banks have also described Reserve Bank of India of the structural and systemic developments they have put in place.
Prompt Corrective Action (PCA) Framework
PCA framework has been released by the Reserve Bank of India to maintain the sound financial health of banks. The Reserve Bank of India will start certain structured & discretionary actions for the bank under the Prompt Corrective Action when the Banks breach any of the 3 important regulatory trigger points:
1. Capital to risk-weighted assets ratio
2. Net non-performing assets
3. Return on assets
The Prompt Corrective Action framework is intended at nudging the banks to take corrective actions in a timely manner, in order to restore their financial health.

Aero India 2019 organizing in - Bengaluru

The 12th edition of Aero India 2019, will be organised at Air Force Station at Yelahanka in Bengaluru
from February 20th-24th 2019. Aero India 2019 intends to provide an important platform in bolstering
business opportunities in the International aviation sector.
More about Aero India 2019

The Aero India 2019 has a tagline ‘The Runway to a Billion Opportunities’ & has a logo stimulated by the Tejas Light Combat Aircraft. The Ministry of Defence has prearranged following programmes during the Aero India 2019:
Start-up Day

The ‘Start-up day’ would see a start-up display programme on February 21st to tap into the highly
motivated entrepreneurial talent pool of the nation. The display programme is intended at delivering the platform for interactions between the Domestic & International start-up community, significant policymakers in the Indian defence sector, &CEOs of leading Indian & worldwide start-ups.
Women’s Day
‘Women’s Day’ would be organised On February 23rd to display achievements achieved by women in the aerospace sector on February 23rd. The ‘Women’s Day’ would witness felicitation of women achievers, launching of the brochure highlighting accomplishments of females, experience sharing by leading females in Aero-Space Sector &flying display by female pilots, paratroopers etc.
Drone Olympics
Drone Olympics delivers an opportunity for all the UAV engineering enthusiasts to display the
capabilities of the Drones they are producing.
Technology Day/Students Day
‘Technology Day’ would be celebrated on February 22nd to deliver an opportunity for the students
elaborated in the aerospace sector, both civil & defence, to display their projects.
Photography contest
A Photography contest would be held on the theme “Flying Objects”.

Start-up India, a WhatsApp Grand Challenge declared by - Facebook

The Facebook-owned messaging application WhatsApp has declared Start-up India- WhatsApp Grand
Challenge to boost entrepreneurs &small businesses in India.
More about the challenge

• The challenge is being accommodated in connotation with Invest India. The topmost Five winners would get a cash prize worth $250,000, approximately Rupees 1.8 crores.
• The challenge is intended at inspiring the businesspersons who have innovative ideas, business models that solve for a local India problem, making a large-scale socio-economic impression.
• The subjects for this Start-up challenge include healthcare, rural economy, financial  digital inclusion, education & resident safety.
• The applications will be assessed by an independent evaluation committee & out of which the best 30 ideas will be nominated for the subsequent round &further Ten in the following round.
• The nominated Ten ideas would participate at the live pitch day during the grand finale & the leading Five would be bestowed grants worth $250,000.
  Invest India
  Invest India is a non-profit entity founded under the Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry in 2009.