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‘’Paper 3-GS-II, Topic: Achievements of Indians in science & technology; indigenization of technology and developing new technology.

What ails the Navigation Indian Constellation

   Important points:

  • Navigation Indian Constellation (NavIC) is an independent Indian satellite-based positioning system for critical national applications.
  • The purpose is to provide reliable position, navigation and timing services over India and its neighbourhood. NavIC consists of a constellation of seven satellites.

   About satellites:

  • Three of the satellites are in a geostationary orbit and four in a geosynchronous one. This means they will be visible at all times in the Indian region.
  • All the seven satellites of NavIC, namely, IRNSS-1A, 1B, 1C, ID,1E, 1F and 1G were successfully launched on July 2, 2013, April 4, 2014, Oct. 16, 2014, March 28, 2015, Jan. 20, 2016, March 10, 2016 and April 28, 2016 respectively.
  • The ₹1,420-crore NavIC relies on rubidium, clocks because navigation requires the most accurate clocks.
  • Each of the seven satellites has three of the clocks on-board. This January, the Indian Space Research Organisation confirmed that the clocks on the first satellite, IRNSS-1A had failed on June 2016.
  • According to the Indian space agency, the applications of IRNSS are:
  • terrestrial, aerial and marine navigation,
  • vehicle tracking and fleet management,
  • terrestrial navigation for hikers and travellers,
  • disaster management,
  • integration with mobile phones, mapping
  • geodetic data capture
  • visual and voice navigation for drivers.
  • Six of the satellites are working fine, the one, faulty one means the “GPS” isn’t working as accurately as it ought to be.
  • ISRO was trying to revive the clocks on 1A and readying one of the two back-up navigation satellites to replace it in space in the second half of this year.
  • Rubidium clocks were the previous standard in accurate clocks and most organisations, that need precise time estimates, need cesium clocks.
  • It is learnt that future clocks on such satellites, each with a lifespan of 10 years, will host such clocks.

    Source: Indian Express

‘’Paper 3-GS-II, Topic: Statutory, regulatory and various quasi-judicial bodies

SEBI sets trading rules for commodity options

    Briefing:

  • SEBI has allowed commodity exchanges to introduce options trading while ensuring that such contracts are introduced only on such commodities that currently register high volume in the futures segment.
  • On trial bases, each exchange will be allowed to start such options trading only on one commodity initially.
  • The regulatory framework is an instrument that was being demanded ever since SEBI took over the regulation of the commodity markets in 2015.
  • The regulator said that options can be launched only on such underlying futures contracts that are among the top five contracts in terms of total trading turnover value of previous twelve months.

    Daily turnover:

  • The average daily turnover of underlying futures contracts qualifying for options has been pegged at Rs. 200 crore for agricultural & agri-processed commodities and Rs. 1,000 crore for other commodities in the previous twelve months.
  • Given the eligibility criteria, Multi Commodity Exchange of India (MCX) will be able to choose from commodities like crude, gold, silver, zinc and copper to launch options contracts.
  • The top traded commodities on NCDEX include soybean, soya oil along with its derivatives.

    Outcome of new introduction:

  • The introduction of options will boost overall market participation and also complement the existing futures and make the commodities market more robust and efficient.
  • The combination of futures & options can give market participants the benefit of price discovery of futures and simpler risk management of options.

    Source: Hindustan Times

 

‘’Paper 2-GS-I, Topic: Post-independence consolidation and reorganization within the country.

Gorkha movement gathers steam

   You should know:

  • The fresh movement for a separate State of Gorkhaland in the Darjeeling hills gathered steam on Tuesday with smaller parties backing the Gorkha Janmukti Morcha (GJM) demand.
  • At a meeting called by the GJM at the Darjeeling Gymkhana Club, representatives of the Gorkha Rashtriya Nirman Manch, Bharatiya Gorkha Parisangh, the Gorkha National Liberation Front (GNLF), the Communist Party of Revolutionary Marxists(CPRM) and the BJP were present.
  • It was decided to collectively carry forward the struggle for Gorkhaland.
  • In an embarrassment for the Trinamool Congress, the GNLF, with whom it had forged an alliance in the recent municipal polls, came out in full support of Gorkhaland.
  • Statement of GNLF,
  • The GNLF wholeheartedly supports the demand for Gorkhaland. The alliance with the Trinamool Congress was only an electoral understanding.
  • GJM general secretary Roshan Giri demanded a written clarification from the West Bengal government on the three language policy, which intends to make Bengali compulsory. He said the movement would be peaceful.
    gorkha

    Source: The Hindu