17 June 2023 : PIB
PRESS INFORMATION BUREAU
17-June-2023
Daily Current Affairs For UPSC ,The PIB ( Press Information Bureau )
1. Sovereign Gold Bond Scheme 2023-24 (Series I).
Topic: GS2 – Government initiatives.
Context:
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Sovereign Gold Bonds 2023-24 (Series I) will be open for subscription from June 19-23, 2023.
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The settlement date for the bonds is June 27, 2023.
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About Sovereign Gold Bond Scheme:
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The Sovereign Gold Bond (SGB) Scheme is a government initiative in India that allows individuals to invest in gold in a paper form rather than purchasing physical gold.
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The scheme was launched in 2015 by the Government of India and is managed by the Reserve Bank of India (RBI).
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Under the scheme, investors can subscribe to gold bonds issued by the government, which are denominated in grams of gold.
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The bonds have a maturity period of 8 years, with an exit option after the 5th year.
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SGBs can be used as collateral for loans, and they also qualify for capital gains tax exemptions upon maturity.
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The bonds are issued periodically, and the subscription periods are announced by the government.
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SGBs can be purchased through designated banks, post offices, stock exchanges, and recognized stock brokers.
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Need for Sovereign Gold Bond Scheme:
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Encouraging financial savings: The scheme provides an avenue for individuals to invest in gold in a convenient and secure manner, promoting financial savings among the population.
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Reducing import of physical gold: By offering an alternative to purchasing physical gold, the scheme aims to reduce the dependence on importing gold, which contributes to the current account deficit of the country.
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Capitalizing on the benefits of gold: Gold is considered a reliable investment asset and a hedge against inflation. The SGB Scheme allows investors to benefit from the potential appreciation in gold prices over the long term.
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Offering liquidity and tradability: Unlike physical gold, SGBs can be easily bought and sold in the secondary market, providing investors with liquidity and flexibility.
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Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1932961
2. New model for improving high-frequency radio communications, crucial during natural disasters
Topic: GS3 – Science and technology.
Potential of newly developed model:
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Scientists at the Indian Institute of Geomagnetism (IIG) have developed a model for radio wave propagation through the ionosphere.
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The model helps estimate the impact of space weather on High Frequency (HF) radio communications.
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HF radio communication is important during situations like natural disasters and mid-ocean surveillance.
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The ionosphere acts as a gateway for radio communication between the ground and space.
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Severe ionospheric disturbances caused by space weather events can limit the usage of Skywave communications.
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The model can assists in developing strategies to mitigate the effects of space weather on Skywave communication systems.
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Planning the right strategies is crucial for reliable Skywave communication systems in the face of natural disasters and emergencies.
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Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1932924
3. NITI Aayog and the United Nations in India sign the Government of India – United Nations Sustainable Development Cooperation Framework
Topic: GS2 – International collaboration.
Context:
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NITI Aayog and the United Nations in India have signed the Government of India – United Nations Sustainable Development Cooperation Framework 2023-2027.
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More about the news:
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The framework aligns with the national vision for development and aims to achieve the Sustainable Development Goals (SDGs).
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It focuses on four strategic pillars: People, Prosperity, Planet, and Participation.
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The framework has six outcome areas, including Health and Well Being, Quality Education, Economic Growth and Decent Work, and Environment, Climate, WASH, and Resilience.
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It emphasizes SDG localization and South-South cooperation, showcasing Indian models of development globally.
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The formulation involved participation from line ministries, state governments, UN agencies, civil society, think tanks, and the private sector.
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Implementation, monitoring, and reporting will be co-led by the Government of India and the United Nations through a Joint Steering Committee.
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The framework aims to contribute to India’s national development priorities and adapt to changing circumstances.
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It comes at a critical time as the world strives to achieve the 2030 Agenda for Sustainable Development and India envisions a ‘Viksit Bharat’ over the next 25 years.
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Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1932966
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