5. iRAD Project

  1. The Integrated Road Accident Database (iRAD) project, a Central government initiative that aims to improve road safety, has been officially launched in Mizoram.
  2. The iRAD project, an initiative of the Ministry of Road Transport and Highway
  3. It is funded by the World Bank, aims to establish an accurate accident data collection mechanism to improve road safety in the country, it said.
  4. The project will collect and analyze data from across the country to understand the causes of accidents and formulate new policies to enhance road safety
  5. The State police is currently implementing projects such as Crime and Criminal Tracking Networks and Systems (CCTNS) and Emergency Response Support System (ERSS),

6. RBI Permitted to use ARR

  1. The Reserve Bank of India (RBI) has permitted banks, which are authorized to deal in foreign exchange, to use any other widely accepted/alternative reference rate (ARR) in place of the London interbank offered rate (LIBOR) for interest payable in respect of export/import transactions.
  2. The central bank has issued a circular in this regard to authorized dealer banks in view of the impending cessation of LIBOR as a benchmark rate.
  3. The London Interbank Offered Rate (LIBOR) is a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans.