Daily Current Affairs for UPSC Civil Services Exam – 22 July 2021

Daily Current Affairs for UPSC Civil Services Exam – 22 July 2021

In Today’s News:

  1. Akash-NG missile.
  2. MPATGM.
  3. IBBI.

1. Akash-NG missile

News summary

Defense Research & Development Organisation (DRDO) successfully flight-tested the New Generation Akash Missile (Akash-NG) from Integrated Test Range (ITR) off the coast of Odisha on July 21, 2021.

Prelims GS – Science & Technology

Akash-NG:
  • New Generation Akash Missile (Akash-NG) is a surface-to-air Missile.
  • The missile system has been developed by Defence Research & Development Laboratory (DRDL), Hyderabad in collaboration with other DRDO laboratories.
  • During the test, the missile demonstrated the high maneuverability required for neutralizing fast and agile aerial threats.
  • Once deployed, the Akash-NG weapon system will prove to be a force multiplier for the air defense capability of the Indian Air Force.

Click here to view the official PIB release.

2. MPATGM

News Summary

Defence Research and Development Organisation (DRDO) successfully flight-tested indigenously developed Man Portable Antitank Guided Missile (MPATGM) on July 21, 2021. The test has validated the minimum range.

Prelims GS – Science & Technology

MPATGM:
  • Man-Portable Antitank Guided Missile (MPATGM)  is an indigenously developed low weight, fire and forget missile.
  • The missile is incorporated with state-of-the-art Miniaturized Infrared Imaging Seeker along with advanced avionics.
  • The test brings the development of indigenous third-generation man-portable Anti-Tank Guided Missile close to completion.
  • MPATGM is a major boost to AatmaNirbhar Bharat and the Indian Army.

Click here to view the official PIB release.

3. IBBI

News Summary

The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016.

Click here to view the official PIB release.

Prelims GS – Economic Development/Governance

IBBI:
  • The Insolvency and Bankruptcy Board of India was established on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
  • It is a key pillar of the ecosystem responsible for the implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms, and individuals in a time-bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.
  • It is a unique regulator: regulates a profession as well as processes.
  • It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities, and Information Utilities.
  • It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution, and individual bankruptcy under the Code.
  • It has recently been tasked to promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information utilities, and other institutions, in furtherance of the purposes of the Code.
  • It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.

Click here to view the official website of IBBI.

 

 

 

 

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