20.09.2007

• What is RFID?
• It is a data collection system based on tiny micro-chips attached to a box, pallet or an individual item that communicates with other devices using radio waves. Device readers capture the data from tags and, in some cases, write to them as well. The software then collates and distributes the data.
• It is nowadays used mostly in retail, asset tracking and logistics fields.
• New cricket academy at Bidadi, Karnataka
• BCCI is setting up a globally benchmarked National Cricket Academy with an investment of Rs. 300 crores near Bangalore. The NCA has been operating out of a temporary facility at the Chinnasamy stadium in Chennai since the year 2000.
• Cyber Command set up by US Air Force
• In a first of its kind, the US Air Force has set up this. It will prepare the defence forces for wars in cyber space. The move comes amid concerns over a wave of hacker attacks originating in China against western governments and a crippling in May against Estonia amid a dispute with Russia.
• The new command will operate at Barksdale Air Force Base in Louisiana.
• Are we seeing the Matrix in real life?
• Spain set to install the largest solar plant
• So far the largest solar plant in the world is a 12 MW plant in Bavaria, Germany.
• Spain is coming out with a solar plant in Salamanca, consisting of 70,000 modules on a site of 36 hectares. It produces 13.8 MW of electricity, enough to meet the needs of 5,000 households.
• About ULCA and the need for its repeal
• The ULCA was introduced in 1976 to prevent hoarding of land in private hands and facilitate execution of social welfare schemes. The law was scrapped by the Centre in 1999. However, some states like Maharashtra have continued to legislate on land issues since it is a state subject.
• ULCA, if repealed will release about 7,000 hectares of urban land.
• Encouragement to SME segment
• The ministry of small and medium enterprises has proposed that public sector companies and government departments must procure at least 20% of the total purchases from SMEs.
• About 358 items are reserved for procurement from SMEs. Also, a minimum of 10% of total purchases would have to be mandatorily procured from women-managed SMEs.
• CBI is itching to go after the private sector banks
• The CBI wants to extend its turf to cover private banks and corporates which remain largely outside its investigative domain.
• The logic extended by it is that since lot of public money is being managed by them, CBI should have the power to investigate their affairs.
• At present as per the Banking Regulation Act and Prevention of Corruption Act, private entities cannot be probed by the CBI.
• Bernanke does a Greenspan
• With the cut in the fed rate, the markets have cheered the Fed Chairman Mr. Bernanke. Some ET editorial comments made in this regard are worth a note:
• The reality is that the long-term problems of the US economy – huge current account imbalance and negative household savings – do need to be addressed. The falling dollar and long-dated Treasury bills are warning signals. For the moment though the Fed has taken the view that while it will keep a watch on inflation, the risk of recession is greater.
• Commenting on the subprime crisis and its first casualty – the rescuing of Northern Rock bank in England, TT Ram Mohan made some sanguine comments about the state of our banking.
• He says that while it may be true that the unfolding problems and crises in the world financial markets may have an impact on the Indian economy, it would be wrong to exaggerate these risks. This is because, there is little to suggest that the magnitude of losses in the present crisis cannot be absorbed by the markets and the central banks.
• Further while discounting the theory that the US housing collapse will have a domino effect on our housing markets, he identifies a clear distinction between the Indian housing market and the US market.
• In the US, the housing demand is driven by borrowing against assets, whether an existing house or stocks. This makes a fall in asset prices have a big impact on housing demand. But in India, the demand is driven by borrowing against future income. The resolve to have a roof over head is stronger. Moreover, the loan to asset value ratio is lower in India and this gives lenders a cushion against any steep fall in housing prices.
• What was the Montreal protocol about?
• Signed 20 years ago, by 191 countries, it is about phasing out the use of ozone depleting substances. Many ozone depleting substances are also greenhouse gases; their elimination serves to protect not only the ozone layer but also the global climate.
• Living fossil
• The Horseshoe crab is an example of a living fossil.
• Its appearance has not changed since its origin over 20 mn years ago.
• 61^st senior National Aquatics Championships
• Are being held in Panaji, Goa.
• Sandeep Sejwal of Delhi and Karnataka’s Rehan Poncha have bettered the long standing records in 100 meters breast-stroke and 200 meters backstroke respectively.