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Current Affairs September 21, 2017

1. Indo-Russian Collaboration on Bangladesh Nuclear Plant:

  • India is going to start its first atomic energy venture abroad by collaborating with Russia to build Rooppur nuclear power plant in Bangladesh. It will be the first such initiative under Indo-Russian nuclear deal to undertake atomic energy project in any third country.
  • 1200 MW Rooppur project is the first atomic energy project of Bangladesh. Two units will be commissioned, each with a capacity of 1200MW.
  • With this, Bangladesh will become the third South Asian country after India and Pakistan to harness atomic energy for energy purpose.

 

2. Chabahar Port likely to be operationalized by the end of 2018: GOI

  • Union Government is hopeful for the operationalization of the strategic Chabahar Port in Iran by the end of 2018. The Exim Bank of India has to provide a loan of $150 million to Iran to activate the contract between India and Iran.
  • Chabahar Port is a strategically located port in the Gulf of Oman near the energy rich Iran’s border with Pakistan. The deal was signed in 2016 so as to make the port as the India’s gateway to Afghanistan, Central Asia and Europe by passing the Pakistan.
  • The port will provide access to the land locked Afghanistan and will also counter the Chinese influence in Arabian sea as the Gwadar port in Pakistan has been developed by China.

 

3. RBI to regulate peer-to-peer lending firms as NBFC’s: GOI

  • In a notification issued in the official Gazette, the Government has cleared that Peer-to-peer lending (P2P) platforms will be treated as Non-Banking Financial Companies (NBFCs) and therefore from now onwards they will be regulated by the Reserve Bank of India (RBI).
  • This move will help the P2P lenders to attain official recognition and further expansion.
  • Peer-to-peer lending (P2P):
  • It is a method of crowd funding to raise loans which are paid back with interest without using any official financial institution as an intermediary.

 

4. India to join Quantum Computing race:

  • With an aim to achieve further excellence in computing, the Science and Technology Department is planning for a project to develop quantum computers.
  • Quantum computing uses the principles of quantum physics to increase the computational power beyond the attainable limits of traditional computers.
  • It uses the complex principles of quantum mechanics to store information in qubits (quantum bits) instead of the typical binary bits of 1 and 0.
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