Current Affair 1:

National Adaptation Fund for Climate Change (NAFCC)

 

 

It was recently informed in the Lok Sabha that under NAFCC, till date, 30 projects are sanctioned in 27 States and UTs.

 

What is National Adaptation Fund for Climate Change (NAFCC) ?

 

The National Adaptation Fund for Climate Change (NAFCC) is a Central Sector Scheme which was set up in the year 2015-16.The overall aim of NAFCC is to support concrete adaptation activities which mitigate the adverse effects of climate change. The activities under this scheme are implemented in a project mode. The projects related to adaptation in sectors such as agriculture, animal husbandry, water, forestry, tourism etc. are eligible for funding under NAFCC. National Bank for Agriculture and Rural Development (NABARD) is the National Implementing Entity (NIE).

 

Implementation

 

The States/UTs are required to prepare the project proposal in consultation with NIE i.e. NABARD. The project proposals are required to be approved by the State Steering Committee on Climate Change to be eligible for consideration under NAFCC. It is the discretion of the State Government to engage any organization to assist in project preparation, as per their requirement.

 

 

Current Affair 2:

River Cities Alliance:

 

 Recently the River Cities Alliance (RCA) has been launched with the objective to provide the membe cities with a platform to discuss and exchange information on aspects that are vital for sustainable management of urban rivers, sharing best practices and supporting innovation.

What is  River Cities Alliance (RCA)?

 

RCA is envisaged as a facilitatory platform for initiating river-sensitive planning and development. Namami Gange through its integrated and comprehensive framework has been working towards rejuvenating Ganga river basin. As cities start to implement the river-sensitive development agenda, the River Cities Alliance will support them to learn from each other and inspire others to take up progressive action on this front.

 

The alliance has been launched initially with 30 cities including Dehradun, Rishikesh, Haridwar, Srinagar, Varanasi,Kanpur, Prayagraj etc. The Alliance is open to all river cities of India. Any river city can join the Alliance at any time.

Current Affair 3:

Small saving scheme

 

 

 

Recently, the government has kept interest rates unchanged on Small savings Schemes, including NSC (National Savings Certificate) and PPF (Public Provident Fund) for the first quarter of 2022-23(April-June) due to an elevated level of inflation.

 

 

What is Small saving scheme?

 

 SSSs are investment tools administered by the government to encourage residents to save for the long term. All the money pooled from different SSSs goes to the National Small Savings Fund (NSSF), established in 1999 within the Public Account of India.

 

 Types of SSSs:

1.Postal deposits: Savings account, recurring deposits, time deposits and monthly income scheme.

2. Savings certificates: National Small Savings Certificate and Kisan Vikas Patra.

3. Social security schemes: Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS), and Sukanya Samridhi Account Scheme.

 

 Significance of SSSs

 

Offering slightly higher interest rates compared to bank deposits. Some SSSs have income tax benefits and assured returns. Funds are channelized to the government in order to finance a part of their expenditure.

 

 

Current Affair 4:

Red sanders

 

 

 

The CITES trade database has recorded 28 incidents of red sanders confiscation,

seizure and specimens from the wild being exported from India.

 

What are red sanders?

 

Red Sanders (Pterocarpus santalinus), or red sandalwood, is an endemic tree species with distribution restricted to the Eastern Ghats of India. Scientific name is Pterocarpus santalinus.IUCN: Endangered ,CITES: Appendix Il ,Wildlife (Protection) Act 1972:Schedule Il.Red Sanders usually grow in rocky, degraded and fallow lands with Red Soil and hot and dry climate.

 

ABOUT CITES:

 

What is CITES?

 

The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) is an international agreement to which States and regional economic integration organizations adhere voluntarily. CITES was drafted as a result of a resolution adopted in 1963 at a meeting of members of the International Union for Conservation of Nature (IUCN).

CITES entered into force in July 1975. Currently there are 184 Parties (include countries or

raninnal acnanamirc intanratiann araanizatinne).Although CITES is legally binding on the Parties, it does not take the place of national laws. Rather, it provides a framework to be respected by each Party, which has to adopt its own domestic legislation to ensure that CITES is implemented at the national level.

 

Current Affair 5:

Inaugural iCET dialogue Source

 

 

Why in news?

 

India and the US National Security Advisor are due to meet for the inaugural of the iCET dialogue ( Initiative on Critical and Emerging Technologies).

What is the Initiative for Critical and Emerging Technologies(iCET)?

 

The iCET initiative was launched by India and the US in May 2022.

Aim: To expand the India-US partnership for critical and emerging technologies— that will drive global grow bolster both countries’ economic competitiveness, and protect shared national security interests. Spearheaded by: The initiative is being run by the National Security Councils of both countries.

Areas of cooperation: The six areas for cooperation are scientific research and development; quantum and artificial intelligence, defense innovation, space, advanced telecom which would include things like 6G and semiconductors.

 

What is significance of (iCET)?

 

iCET will accelerate America’s technology partnership and strategic convergence and policy alignment with India. It is important for India’s role as a trusted supply chain partner

Important for the next industrial revolution, space, and future defense needs ,This will allow the gradual lifting of the US’s export control restrictions on India.Sustaining a free, open, and secure global economy that can ensure the future happiness of humanity

 

 

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