UPSC QUIZ 23.04.2024

Explanation:

• The recent decision by the Reserve Bank of India (RBI) to allow Foreign Institutional Investors (FIIs) operating within the International Financial Services Centre (IFSC) to invest in India's Sovereign Green Bonds (SGrBs) marks a significant step towards financing the nation's transition to a low-carbon economy.
• FIIs are institutional investors that invest in assets belonging to a different country than where the organizations are based.The Securities and Exchange Board of India (SEBI) regulates FII investments in the country, while the RBI maintains the investment ceilings to keep FII participation in check.

Sovereign Green Bonds

• In the Union Budget 2022-23, the FM announced the government’s decision to issue SGrBs, a kind of government debt that specifically funds projects attempting to accelerate India's transition to a low-carbon economy.
• Funds raised through SGrBs are earmarked exclusively for green projects, ensuring transparency and accountability in fund utilization.

Explanation:

• European astronomers have discovered the largest stellar black hole in our galaxy.
• The mass of this celestial monster named 'BH-3' is 33 times more than our Sun and it is located at a distance of only 2000 light years from the Earth.

ESA's Gaia Space Observatory discovered 'BH-3'

• The weight of many stellar black holes previously found in the galaxy is 10 times the mass of the Sun. For the first time, a massive black hole has been detected.
• ‘BH-3’ was discovered by the Gaia Space Observatory of the European Space Agency (ESA).
• The Gaia Space Telescope was launched in the year 2013.

Explanation:

• Scientists of Linköping University (Sweden) have developed a substance called Goldene for the first time.

golden substance

• This is an extremely thin layer of gold made up of a single layer of graphite atoms.
• It has been developed on the lines of graphene.
• Method: It is made using a 100 year old forging method used by Japanese blacksmiths.
• Forging is a metallurgical process that manipulates, shapes, deforms and compresses metal to achieve the desired form, configuration or condition specified by metal processing.

Explanation:

• The Finance Ministry on April 16 notified foreign direct investment (FDI) in the space sector under foreign exchange management rules, which will now enable Indian space startups working on capital-intensive space products to access the global pool of capital.
• The Union Cabinet approved the liberalised FDI policy in February 2024 to encourage private and foreign players in the space sector. The government notified the new FDI policy on the eve of American billionaire businessman Elon Musk's visit to India.
• Elon Musk, who will visit India shortly, is keen to invest in the Indian space sector through his Starlink company, which provides satellite-based internet service. Elon Musk is likely to meet Indian space start-up companies, and there is a strong possibility that his company is looking to invest in the Indian space sector. To encourage foreign/private investment, the government has announced the easing of FDI in the space sector.

Explanation:

• DRDO carried out a successful flight test of Indigenous Technology Cruise Missile.
• The missile was fired for testing from the Integrated Test Range, Chandipur off the coast of Odisha.
• The flight of the missile was also monitored from the Indian Air Force’s Su-30-Mk-I aircraft.
• This successful flight test has also demonstrated the reliable performance of the indigenous propulsion system, which has been developed by the Gas Turbine Research Establishment.
• The missile is also having advanced avionics and software to make sure its better and more reliable performance.
• The successful development of indigenous long-range subsonic cruise missiles powered by indigenous propulsion is a significant achievement according to Raksha Mantri Rajnath Singh.