Goaltide Daily Current Afffairs 2023

Mar 28, 2023

Current Affair 1:
First International Quantum Communication Conclave


The conclave was organised in association with CDOT, Telecommunications Standards Development Society India (TSDSI) and IEEE Communications Society - Delhi Chapter.

Quantum communication refers to communication channels that leverage laws of quantum physics to protect data, and in theory, is much more secure than traditional ways of transmitting the data.

Quantum communication takes advantage of the laws of quantum physics to protect data, that allow particles—typically photons of light for transmitting data along optical cables—to take on a state of superposition, which means they can represent multiple combinations of 1 and 0 simultaneously.

The particles are known as quantum bits, or qubits. If a hacker tries to observe these qubits in transit, their super-fragile quantum state “collapses” to either 1 or 0. This means a hacker can’t tamper with the qubits without leaving behind a tell-tale sign of the activity.

The International Quantum Communication Conclave provided an excellent opportunity to learn about the latest advancements in quantum communication technologies. Experts from industries, academia, R&D centres, and government deliberated possible applications of Quantum Technologies in building a secure communication infrastructure.

The C-DOT is actively engaged in developing solutions in Quantum Communications and is poised to be designated as hub for Quantum Communication related activities under National Mission on Quantum Technologies and Applications (NMQTA).

C-DOT has developed Quantum Key Distribution (QKD) and Post Quantum Cryptography (PQC) security solutions for communication. These solutions have been demonstrated in the live network and TEC certification process is also under way.

Current Affair 2:
Centre for Processing Accelerated Corporate Exit (C-PACE)


The Ministry of Corporate Affairs (MCA) has issued a notification dated 17th March, 2023 regarding establishment of Centre for Processing Accelerated Corporate Exit (also called C-Pace) which was proposed by Finance Minister Nirmala Sitharaman in her Union Budget 2022-23.

Current Affair 3:
SWAMIH Investment Fund


SWAMIH has so far provided final approval to about 130 projects with sanctions worth over Rs 12,000 crore. In three years since inception in 2019, the Fund has already completed 20,557 homes and aims to complete over 81,000 homes in the next three years across 30 tier 1 and 2 cities

The Fund is sponsored by the Ministry of Finance, Government of India, and is managed by SBICAP Ventures Ltd., a State Bank Group company. The Fund has no precedent or comparable peer fund in India or in the global markets.

Since the Fund considers first time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints and NPA accounts, even projects where there are litigation issues, it is considered as the lender of last resort for distressed projects.

See in detail:


Current Affair 4:
BRICS nations now contribute more to world GDP than industrialised G7


BRICS countries overtook G7 in 2020 by making up a larger share of global GDP in PPP terms, with China & India respectively in second and third positions globally that year.

Data shows that, beginning 2020, the BRICS nations as a whole now contribute more towards global Gross Domestic Product (GDP) than the G7 industrialised nations do, in terms of purchasing power parity (PPP).

The BRICS countries comprise Brazil, Russia, India, China, and South Africa, and represent the largest developing economies. The G7 are the largest industrialised economies and consist of the US, the UK, Germany, France, Japan, Italy, and Canada.

Within the BRICS, however, the break-up highlights the dominance of China (itself accounting for 17.6 per cent of global GDP in 2019), followed by India at a distant second (7 per cent). Russia (3.1 per cent), Brazil (2.4 per cent), and South Africa (0.6 per cent) together made up just 6.1 per cent of world GDP.

It was in 2020, however, that the G7-BRICS dynamic flipped. That year, the BRICS (31.4 per cent) overtook the G7 (30 per cent).

In other words, 2020 was the year the global economic power dynamic shifted in favour of developing countries, marking a key landmark in the ongoing decline of the developed nations in terms of economic might.

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