Goaltide Daily Current Affairs 2023
Current Affair 1:
Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGMSE)
There are primarily two sources of credit availability to MSMEs- institutional and non-institutional. Institutional credit is led by the RBI and other agencies mandated by the RBI, while the non-institutional credit is majorly sourced from money-lenders and family and friends. The percentage of MSMEs using institutional credit remains low, because of the high-risk perception of banks in extending credit facilities to MSMEs, and this is more acute in the case of micro and small enterprises.
To ease the flow of credit to MSEs, the Government of India had introduced the Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGMSE). A trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was established with contribution in ratio of 1:4 by the Small Industries Development Bank of India (SIDBI) and the Government of India (GoI).
Consistent rise in the amount of guarantee approved under CGMSE.
Under the Credit Guarantee fund scheme for MSEs, the amount of guarantee approved has shown consistent increase, with few exceptions.
Since 2017, CGTMSE has experienced fundamental changes that have allowed it to broaden the scope of its programmes to include untapped markets including partial collateralized loans, retail trade, and untapped lenders like NBFCs, small finance banks, and scheduled cooperative banks.
Emergency Credit Line Guarantee Scheme (ECLGS)
COVID-19 pandemic and the subsequent containment measures had an adverse impact on the financials of the MSMEs. They were struggling with liquidity constraints to keep the enterprise running, and many of them were on the verge of bankruptcy and insolvency. To mitigate the liquidity constraints, the Government of India introduced the ECLGS scheme in May 2020. Under this, 100 percent guarantee is extended to the member lending institutions (MLIs) in respect of credit extended by them to the borrowers. The interest rate under the scheme is capped at 9.25 percent for Banks and Financial Institutions and 14 percent for Non-Banking Financial Institutions.
How is ECLGS is different from CGTMSE?
Though CGTMSE and ECLGS are guarantee schemes by the Government, there is a significant difference in their characteristics. CSTMSE came into force from 01 August 2000, while ECLGS was launched during the COVID-19 period, i.e., 2020. Apart from this, below is the gist of the differences.
Five states account for half of the amount guaranteed under ECLGS.
Services and consumer durables account for 35% of the total amount guaranteed as of 2022.
Impact of ECLGS has been positive so far.
The impact of the Emergency Credit Line Guarantee Scheme (ECLGS) has been studied in August 2022 by TransUnion CIBIL Ltd. As per the assessment, the following positives are observed in flow of credit as well as the change in behaviour of the borrowers.
- Micro-enterprises benefitted the most, with 83% of the total borrowers belonging to the micro-enterprises category.
- The average number of new trades opened per borrower grew by 15% as compared to 6% for the eligible borrowers who did not avail ECLGS.
- The NPA rate is 4.8% for ECLGS availed borrowers, while it is 6.1% for those who did not avail ECLGS.
Current Affair 2:
Uganda’s First Oil Drilling Program
Uganda has one of the largest oil reserves in the Saharan desert according to the International Monetary Fund. Oil was discovered in Uganda twenty years back. But the production was delayed due to a lack of funds and infrastructure. With the assistance of China, Uganda is now launching its first oil field in Lake Albert.
Current Affair 3:
Demonstration for Rocket to Agile Cislunar Operations (DRACO) spacecraft
NASA and the Defense Advanced Research Projects Agency (DARPA) announced a collaboration- Demonstration Rocket for Agile Cislunar Operations, or DRACO, program, to demonstrate a nuclear thermal rocket engine in space, an enabling capability for NASA crewed missions to Mars.
With the help of this new technology, astronauts could journey to and from deep space faster than ever – a major capability to prepare for crewed missions to Mars.
Using a nuclear thermal rocket allows for faster transit time, reducing risk for astronauts. Reducing transit time is a key component for human missions to Mars, as longer trips require more supplies and more robust systems. Maturing faster, more efficient transportation technology will help NASA meet its Moon to Mars Objectives.
Other benefits to space travel include increased science payload capacity and higher power for instrumentation and communication. In a nuclear thermal rocket engine, a fission reactor is used to generate extremely high temperatures. The engine transfers the heat produced by the reactor to a liquid propellant, which is expanded and exhausted through a nozzle to propel the spacecraft. Nuclear thermal rockets can be three or more times more efficient than conventional chemical propulsion.
Current Affair 4:
Polycystic Ovarian Syndrome (PCOS)
This article was mentioned in PIB. Just read once.
Polycystic ovary syndrome (PCOS) is a multifactorial endocrine disorder which is characterized by chronic anovulation. Irregular periods, hirsutism, weight gain are the common symptoms of PCOS. It is the most prevailing female endocrine disorder and the pre-eminent cause of infertility, with the worldwide range of 6-26%, and in India it is 3.7-22.5%. Risk factors that contribute to the development of PCOS include genetics, neuroendocrine system, sedentary lifestyle, diet, and obesity.
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