26th Aug, 2020
The Assam government has inaugurated a 1.8-km ropeway across the Brahmaputra River.
It is being described as India’s longest river ropeway.
It Connects Kachari Ghat (Guwahati) to Dol Govinda Temple on the northern bank.
It passes the famous Umananda temple on a small island.
The ropeway uses a “twin-track, single-haul, bi-cable double reversible jig back” system.
- It cuts travel time between the two banks to 8 minutes. Presently it takes 30 minutes or more (ferry) and over an hour (road).
- It promotes tourism in the State.
It is also called Yarlung Tsangpo in Tibet, Siang/Dihang River in Arunachal Pradesh and Luit, Dilao in Assam.
It is a trans-boundary river which flows through Tibet, India and Bangladesh.
Structured Finance and Partial Guarantee Programme to NBFC-MFIs launched
National Bank for Agriculture and Rural Development (NABARD) has introduced ‘Structured Finance and Partial Guarantee Programme to NBFC-MFIs.’
The programme is for Non-Banking Financial Company (NBFC) and Microfinance Institutions (MFIs).
It is a dedicated debt and credit guarantee programme.
Objective: To ensure uninterrupted flow of credit to the last mile in COVID-19-affected rural areas.
NABARD will provide partial guarantee on loans given to small and mid-sized MFIs.
It will help facilitate ₹2,500 crore funding in the initial phase.
NABARD has recently signed agreements with Vivriti Capital and Ujjivan Small Finance Bank to roll out the initiative.
Tata Group plans to launch Super App
Tata Group is planning to launch an all-in-one super app by early 2021.
The digital platform is expected to bring together all the consumer-facing businesses of the group.
It is likely to be developed by the newly formed entity Tata Digital.
It is a platform developed by a company offering various services under one umbrella.
For example, China’s WeChat. It started as a messaging app and later expanded into payments, cabs, shopping, food ordering, and cab services to become a super app.
Super app can be compared to a mall in the physical world.
Bondas tribal community
Bondas, a tribal community, was recently in news, when four of its members tested positive for COVID-19.
The community resides in the hill ranges of Malkangiri district in Odisha.
It belongs to a particularly vulnerable tribal group (PVTG).
It lives in settlements comprising small hutments in the hills of the Khairaput block.
Odisha is home to 62 tribal communities — the largest diverse groups of tribal population in India.13 of them are PVTGs.
Tribal populations are found in the entire seven districts of Kandhamal, Mayurbhanj, Sundargarh, Nabarangpur, Koraput, Malkanagiri and Rayagada.
Study in India – Stay in India scheme to come up
The Central Government would soon come up with a programme called “Study in India – Stay in India”.
- To prevent students from leaving the country seeking higher education abroad and also
- To bring back Indian students studying abroad.
RBI’s Annual Report for 2019-20 released
RBI annual report for 2019-20 was recently released.
Economic contraction triggered by the COVID-19 pandemic would extend into the second quarter.
The shock to consumption has been severe.
The government consumption would be key to the revival of demand.
High frequency indicators point to a reduction in spending that was never observed till now.
RBI’s survey for July month indicated that consumer confidence fell to an all-time low.
Majority of respondents reported pessimism relating to the general economic situation, employment, inflation and income.
It an asteroid that is on a collision course with Earth according NASA’s Jet Propulsion Laboratory.
It was first discovered at the Palomar Observatory in California’s San Diego County two years ago.
NASA has said there is a 0.41 per cent, or 1 in 240 chance that 2018VP1 would impact the Earth.
If the asteroid does enter our planet’s atmosphere, it is unlikely to cause any harm.
It is likely to burn up into an impressive fireball after entering the Earth’s atmosphere before reaching the ground.
Such an event happens about once every year.
Asteroids that are 140 metres or larger are of “the greatest concern” due to the level of devastation their impact may cause.