RBI Committee on ARCs

• RBI has set up a committee to undertake a comprehensive review of the working of asset recon­struction companies (ARCs) in the financial sector eco­system and recommend suitable measures for ena­bling them to meet the growing requirements.
• The committee will sub­mit its report within three months from the date of its first meeting.

Composition

• It is a six­member commit­tee.
• It will be headed by Sudar­shan Sen, former executive director, Reserve Bank of In­dia (RBI).

Terms of reference

• Review the exist­ing legal and regulatory fra­mework applicable to ARCs and recommend measures to improve efficacy of ARCs.
• Review the role of ARCs in the resolution of stressed assets, including under the Insolvency and Bankruptcy Code (IBC), and give suggestions for improv­ ing liquidity in and trading of security receipts.
• Review the business models of ARCs.

Source: The Hindu

Wright broth­ers’ moment on Mars

• NASA successfully flew its ti­ny helicopter Ingenuity on Mars.
• It is the first powered flight on another planet and a feat  called “Wright brothers’ moment.”

About the Flight

• The 1.8 kg rotor­ craft lifted off, hovered 10 feet above the Martian sur­face, then came back to rest after 39.1 seconds.
• Data and images from the autonomous flight were transmitted back to Earth where they were received by NASA’s ar­ ray of ground antennas and processed more than three hours later.
• Ingenuity quickly sent back a black­and­white im­age from its downward pointing navigation camera, showing its bug­like shadow cast on the surface.
• Then came a choppy co­lour video from the Perseve­rance rover showing Inge­nuity on

Wright brothers

• The first powered flight on Earth was achieved by the Wright brothers in 1903 in North Carolina.
• A piece of fabric from that plane has been tucked inside Ingenui­ty in honour of that feat.

Goal

• Ingenuity travelled to Mars attached to the underside of Perseverance, which touched down on the planet on February 18 on a mission to search for signs of extra­ terrestrial life.
• Ingenuity’s goal is to demonstrate its technology works, and it won’t contribute to Perseve­rance’s science goals.

Source: The Hindu

Pangolin

• A live pangolin was rescued by the Special Task Force (STF), from a village in Cuttack district of Odisha.
• Forest officials had also rescued at least three live pangolins from the Athagarh forest division from August 2019-April 2020. They had also seized over five kg of pangolin scales during the period.
• The rescue and recovery prove wrong the prediction that the smuggling of the would reduce in Odisha as several scientists had identified it as a potential intermediate host of the novel coronavirus (SARS-CoV-2) in February, 2020.

About the pangolin

• The Indian pangolin (Manis crassicaudata), is a solitary, shy, slow moving, nocturnal mammal.
• It is a Schedule I protected animal under Wildlife (Protection) Act, 1972. Offences committed with regard to Schedule I animals carry the highest penalties.
• The species is listed under the Appendix I of the International Convention of Trade in Endangered Species (CITES) that prohibits international commercial trade.
• Among eight pangolin species found globally, four each are found in Asia and Africa. India is home to two species, the Chinese pangolin (Manis pentadactyla) and the Indian pangolin.
• When Chinese researchers identified pangolins as the potential intermediate host of SARS-CoV-2 in February 2020 and discovered of a 99% genetic match between the novel coronavirus and a strain of the virus found in pangolins, it was thought the smuggling of the pangolin might be reduced. But it proved wrong with seizure of more live pangolins from Odisha.

Threats to Pangolins in India:

• Hunting and poaching for local consumptive use (e.g. as a protein source and traditional medicine).
•  International trade for its meat and scales in East and South East Asian countries, particularly China and Vietnam.

Source: Downtoearth

Indian Naval Air Squadron (INAS) 323

• INAS 323 was commissioned into the Indian Navy.
• Indian Naval Air Squadron (INAS) 323 is the first unit of the indigenously built ALH Mk III aircraft.
• The commissioning of INAS 323 marked yet another milestone in the efforts towards enhancing maritime security and safeguarding maritime interests of the nation. It also embodying the spirit of AtmaNirbhar Bharat.
• The squadron will operate three state-of-the-art ALH Mk III, a multirole helicopter with Shakti engine manufactured by Hindustan Aeronautics Limited (HAL).
• The Mk III version of the ALH has an all glass cockpit and will be used for Search and Rescue, Special Operations and Coastal Surveillance.

Source: PIB

Webinar on Khajuraho Temples

• The Ministry of Tourism’s DekhoApnaDesh Webinar series held its 85th webinar titled “Khajuraho-Temples of Architectural Splendour”.
• The magnificence of the structures in the country that UNESCO has identified several of them as World Heritage Sites and among it is one such architectural marvel and that is temples of Khajuraho.

About the Khajuraho Temples

• Khajuraho Temples were built between 950-1050 AD by the Chandela Dynasty.
• The temples are categorised into three groups that is Eastern, Western and Southern.
• These temples display intricate & exceptional carvings and astounding architectural skill which makes Khajuraho one of the most popular tourist destination among domestic as well as international visitors.
• To name few temples are Kandariya Mahadev Temple, Chaunsat Yogini Temple, Brahma Temple, Chitragupta Temple, Devi Jagdamba Temple, Lakshmana Temple, Matangeshwar Temple, Parsvanath Temple.

Source: PIB