Daily Current Affairs for UPSC Civil Services Exam – 08 June 2021

Daily Current Affairs for UPSC Civil Services Exam – 08 June 2021

In Today’s News:

  1. Non Performing Assets.
  2. Micro Arc Oxidation and Aluminum alloys.
  3. World Food Safety Day event on 7th June.

1. Non Performing Assets

News Summary

Banks have planned to shift some Rs. 89000 crore worth of NPAs to National Asset Reconstruction Company(NARCL).

Prelims GS – Economic Development

NPA:
  • Non-Performing Assets are those loans or advances that have defaulted or in arrears.
  • The loans for which the Principal or interest amount has not been paid for more than 90 days are considered to be Non-Performing Assets.
  • Before a loan becomes NPA, it first enters into SMA(Special Mention Account) stage. It is an early sign that loan is going to default. There are three stages in SMA:
    • SMA-0: When the loan is not paid from 0-30 days.
    • SMA-1: When the loan is not paid from 31-60 days.
    • SMA-2: When the loan is not paid from 61-90 days.
  • Banks should be cautious during the SMA stage and prevent the loan from becoming NPA.
  • NPAs are classified as:
    • Substandard assets: Assets which has remained NPA for a period less than or equal to 12 months.
    • Doubtful assets: An asset would be classified as doubtful if it has remained in the substandard category for a period of 12 months.
    • Loss assets: A loss asset is one where loss has been identified by the bank or internal or external auditors or the RBI inspection but the amount has not been written off wholly. In other words, such an asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted although there may be some salvage or recovery value.

Click here to know more about NPAs on the RBI website.

2. Micro Arc Oxidation and Aluminum alloys

News Summary

Indian Scientists have developed an environmental-friendly process, which can provide excellent corrosion resistance to the high-strength aluminum (Al) alloys.

Prelims GS – Science & Technology

Applications of Aluminium alloys:
  • High-strength aluminum (Al) alloys are extensively used in aerospace, textile, and automotive applications owing to their low density and high specific strength.
  • Aerospace components made out of Al alloys include landing gear, wing spar, which is the main structural part of the wing, fuselage (main body of an aircraft), aircraft skins or outer surface, and pressure cabins.
  • These parts often need resistance against wear, corrosion damages, and enhanced fatigue life.
  • The widely used technique for Al alloys to improve corrosion resistance called the hard anodizing (HA) process is an electrolyte-based coating deposition.
  • It involves sulphuric/oxalic-based electrolytes, which emit not only toxic fumes but are also hazardous to handle during processing.
MAO:
  • In order to cater to the growing demand for cleaner industrial processes, an environmental-friendly process called micro-arc oxidation (MAO) has been developed at International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), an autonomous R&D Centre of the Department of Science and Technology, Govt. of India.
  • The process which involves an alkaline electrolyte is capable of providing better wear and corrosion resistance compared to the HA process.
  • MAO is a high-voltage driven anodic-oxidation process, which through an electrochemical method, produces an oxide film on a metallic substrate.
  • ARCI team has further designed and developed a duplex treatment of shot peening (a process used to modify the mechanical properties of metals and alloys) followed by MAO coating deposition.
  • Systematic investigations conducted at ARCI have shown that the duplex treatment has led to the remarkable enhancement in aerospace Al alloys’ fatigue life while retaining the outstanding corrosion and wear resistance of MAO coating.

Click here to view the Courtesy: PIB release to know more about Micro Arc Oxidation.

3. World Food Safety Day event on 7th June

News Summary

Dr. Harsh Vardhan, Union Minister for Health and Family Welfare virtually attended the Word Food Safety Day celebrations on 7th June 2021 organized by the Food Safety and Standards Authority of India (FSSAI).

Click here to view the official PIB release.

Prelims GS – Governance

FSSAI:
  • The Food Safety and Standards Authority of India (FSSAI) has been established under Food Safety and Standards, 2006.
  • FSSAI has been created for laying down science-based standards for articles of food and to regulate their manufacture, storage, distribution, sale, and import to ensure the availability of safe and wholesome food for human consumption.
  • Ministry of Health & Family Welfare, Government of India is the Administrative Ministry for the implementation of FSSAI.

Click here to view the official website of FSSAI.

Mini Insights

Mains GS2 – Governance

Functions of FSSAI:

FSSAI has been mandated by the FSS Act, 2006 for performing the following functions:

  • Framing of Regulations to lay down the Standards and guidelines in relation to articles of food and specifying appropriate system of enforcing various standards thus notified.
  • Laying down mechanisms and guidelines for accreditation of certification bodies engaged in certification of food safety management system for food businesses.
  • Laying down procedure and guidelines for accreditation of laboratories and notification of the accredited laboratories.
  • To provide scientific advice and technical support to Central Government and State Governments in the matters of framing the policy and rules in areas that have a direct or indirect bearing on food safety and nutrition.
  • Collect and collate data regarding food consumption, incidence, and prevalence of biological risk, contaminants in food, residues of various, contaminants in foods products, identification of emerging risks, and introduction of the rapid alert system.
  • Creating an information network across the country so that the public, consumers, Panchayats, etc receive rapid, reliable, and objective information about food safety and issues of concern.
  • Provide training programs for persons who are involved or intend to get involved in food businesses.
  • Contribute to the development of international technical standards for food, sanitary and phytosanitary standards.
  • Promote general awareness about food safety and food standards.

Courtesy: FSSAI official website.

 

 

 

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