current affairs 22nd octomer

India has won the 2016 Kabaddi World Cup by defeating Iran by 38-29 score in the final match played at the Arena By TransStadia in Ahmedabad (Gujarat. It was India’s third consecutive Kabaddi World Cup in the Standard Style version of Kabaddi. Earlier India had won in 2004 and 2007. Captain of Indian team: Anup Kumar


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What are Masala Bonds?

The rupee-denominated bonds or masala bonds are instruments through which Indian entities can raise funds by accessing overseas capital markets, while the bond investors hold the currency risk.

Why is it important?

Masala bonds, if they take off, can be quite a significant plus for the Indian economy. They are issued to foreign investors and settled in US dollars. Hence the currency risk lies with the investor and not the issuer, unlike external commercial borrowings (ECBs), where Indian companies raise money in foreign currency loans.

While ECBs help companies take advantage of the lower interest rates in international markets, the cost of hedging the currency risk can be significant. If unhedged, adverse exchange rate movements can come back to bite the borrower. But in the case of Masala bonds, the cost of borrowing can work out much lower.

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Civil Aviation Ministry’s Regional Connectivity Scheme “UDAN” Launched

The Centre has unveiled a regional connectivity scheme, known as UDAN (Ude Desh ka Aam Nagrik), with flights priced at Rs.2,500 for one hour of flying time to and from regional airports.

About the scheme:udan-scheme

A “first of its kind” in the world, UDAN (Ude Desh Ka Aam Naagrik) will be based on market mechanism as well as bidding for a minimum of 50% seats in the participating airline’s flight and the rest would be market-based pricing.

The scheme UDAN envisages providing connectivity to un-served and under-served airports of the country through revival of existing air-strips and airports. The scheme would be in operation for a period of 10 years.

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Four apes in critically endangered species

Western Gorilla
Eastern Gorilla
Sumatran Orangutan
Bornean Orangutan

Two apes in endangered list

Chimpanzee
Bonobo

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Conglomerate Hinduja Group’s flagship company Ashok Leyland has unveiled country’s first 100 per cent indigenously made electric bus which are non-polluting and have zero-emissions. These buses were unveiled in lines with National Electric Mobility Plan which aims at a 20% penetration of electric/hybrid (eco-friendly) vehicles by 2020. They enjoy a subsidy under the Central government’s Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) scheme. Key Facts These electric buses will be offered on multiple platforms and have seating capacity ranging from 35 to 65. They can travel 150 km on a single charge. They have been integrated with a fire detection and suppression system. They are built on mass-market platform that will enable operator to cater to customers in city centres with minimal operational and maintenance costs. These buses can be used in heritage sites, metro stations, tarmacs, rural areas, hill stations and by IT firms and educational institutions. Besides, state Transport Undertakings can also use them for environment friendly mass public transportation. Way Forward In India, electric buses in future will have a big leap in mass public transport. It would support the government initiative of reducing fuel import bill. Besides, it will help to curb air pollution as these buses have zero tailpipe emissions and lower noise pollution. What is National Electric Mobility Mission Plan (NEMMP) 2020? The NEMMP 2020 is one of most ambitious initiatives undertaken by Central Government to promote hybrid and electric vehicles in the country to achieve national fuel security. It has set an ambitious target to achieve 6-7 million sales of hybrid and electric vehicles year on year from 2020 onwards. The FAME India Scheme was launched under this mission to provide fiscal and monetary incentives to electric and hybrid vehicles ranging from two wheelers to buses