Current Affair 1:

adhar-enabled Payment System (AePS)

 

News:

Amid increasing instances of fraud related to the Aadhaar-enabled payment system (AePS), the Reserve Bank of India (RBI) has proposed to streamline the process of onboarding AePS service providers.

AePS is a bank led model which allows online interoperable financial inclusion transaction at PoS (Micro ATM) through the Business correspondent of any bank using the Aadhaar authentication.

National Payments Corporation of India (NPCI) introduced AePS system to promote financial inclusion and make banking services accessible to all, particularly those living in remote and rural areas.

The only inputs required for a customer to do a transaction under this scenario are: -

• Bank Name
• Aadhaar Number
• Biometrics captured during enrolment

 

Current Affair 2:

'Sangam: Digital Twin' initiative

 

News:

Department of Telecommunications (DoT) has unveiled the 'Sangam: Digital Twin' initiative, an unparalleled venture inviting Expressions of Interest (EoI) from industry pioneers, startups, MSMEs, academia, innovators and forward-thinkers. 

Digital Twin technology offers a solution by creating virtual replicas of physical assets, allowing for real-time monitoring, simulation and analysis for experimental iterations and feedback loop to adapt to the changes for achieving the best outcomes.

 

Current Affair 3:

‘Sagar Aankalan’ guidelines for Indian Port Performance Index

 

News:

Key performance indicator used is divided in two categories (You don’t need to remember):

 

Current Affair 4:

Magnetoelectric multiferroics

 

News:

Researchers have identified a unique mechanism of electric polarization via magnetic ordering in a novel mineral named “MnBi2S4”, which can be useful for energy efficient data storage.

Magnetoelectric multiferroics are a special class of materials popular among the research fraternity for their rarity and unique properties. 

Interestingly, these materials can exhibit both magnetism and ferroelectricity simultaneously. This dual property is particularly fascinating, as materials typically possess either magnetism or ferroelectricity. Finding a single material with both these properties, is therefore, rare and valuable, especially for advanced technology applications like spintronics, electronic memory devices, and other electronic components like actuators and switches.

Advantages:

1. The findings of this study could find applicability in the domain of energy-efficient data storage. 
2. Specifically, if the material possesses the ability to exhibit the same phenomena at room temperature, it could pave the way for energy-efficient manipulation of spin using small electric fields. 
3. This, in turn, could revolutionize data storage by reducing energy consumption during writing processes. 
4. Additionally, these findings can be helpful for the development of four-state logic memory system, providing additional degrees of freedom for device performance compared to the current binary logic systems.

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