Do You Know
What is a Bank?
A bank is an institution that accepts deposits of money from the public, which are repayable on demand and withdrawable by cheque. Such deposits are used for lending to others and not for financing its own business of any kind. The term lending includes both direct lending to borrowers and indirect lending through investment in open market securities. A sound banking system plays a pivotal role in the growth of a nation's economy. In India, the beginning of banking system dates back to 1881, whe
What is Aadhaar?
Aadhaar is a 12 digit individual identification number issued by the Unique Identification Authority of India on behalf of the Government of India. This number will serve as a proof of identity and address, anywhere in India. Any individual, irrespective of age and gender, who is a resident in India and satisfies the verification process laid down by the UIDAI can enrol for Aadhaar. Each individual needs to enroll only once which is free of cost. Each Aadhaar number will be unique to an individu
What is ISO (International Organization for Standardization)?
ISO (International Organization for Standardization) is the world’s largest developer of voluntary International Standards. International Standards give state of the art specifications for products, services and good practice, helping to make industry more efficient and effective. Developed through global consensus, they help to break down barriers to international trade. What it do? ISO develops International Standards. We were founded in 1947, and since then have published more than 19 500 Int
What is Family Farming?
Family farming includes all family-based agricultural activities, and it is linked to several areas of rural development. Family farming is a means of organizing agricultural, forestry, fisheries, pastoral and aquaculture production which is managed and operated by a family and predominantly reliant on family labour, including both women's and men's. Both in developing and developed countries, family farming is the predominant form of agriculture in the food production sector. At national level,
What is Basel III?
"Basel III" is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector. These measures aim to: Improve the banking sector's ability to absorb shocks arising from financial and economic stress, whatever the source Improve risk management and governance Strengthen banks' transparency and disclosuresThe reforms target: Bank-level, or microprudential, regulation, whi
What is Bitcoin?
In 2009, an unknown programmer by the name of Satoshi Nakamoto put forward a whitepaper that proposed a creation of new form of digital currency - cryptocurrency. Cryptocurrency functions the same way as regular currencies do in that its used as a means of exchange, unit of account and a store of value. Cryptocurrency, just like other resources, has some demand for it, and subsequently a market price. The significant difference is Bitcoin’s intangibility - there is no bank-issued notes or papers
What is North East Council?
The North Eastern Council is the nodal agency for the economic and social development of the North Eastern Region which consists of the eight States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura. What are its objectives? The North Eastern Council was constituted in 1971 by an Act of Parliament. The constitution of the Council has marked the beginning of a new chapter of concerted and planned endeavour for the rapid development of the Region. Over the last
What is NASSCOM?
National Association of Software and Service Companies (NASSCOM) is the India's premier trade body and the chamber of commerce of the IT software and services industry in India. NASSCOM is a global trade body with over 1100 members, of which over 250 are global companies from the US, UK. EU, Japan and China, NASSCOM's member companies are in the business of software development, software services, software products, IT-enabled BPO services and e-commerce. NASSCOM was set up to facilitate busine
What is Kyoto Protocol?
The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012. The major distinction between the Protocol and the Convention is that while the Convention encouraged in
What is polio?
Poliomyelitis is a highly infectious disease caused by the polio virus. It invades the nervous system, and can cause paralysis or even death in a matter of hours. How is polio transmitted? The polio virus (scientifically known as the wild polio virus or WPV) enters the body through water or food that has been contaminated with faecal material from an infected person. The virus multiplies in the intestine. From blood it may pass to the nerves of the brain stem and spinal cord. The disease mai
What is the Global Slavery Index?
The Global Slavery Index 2013 measures the size of the modern slavery problem, country by country. The Index provides a quantitative ranking of 162 countries around the world according to the estimated prevalence of modern slavery (that is, the estimated percentage of enslaved people in the national population at a point in time). The Index is constructed from three quantitative indicators on prevalence, one of which was generated internally (estimated prevalence of slavery), and two of which ar
What is Budget?
Budget is also called the Annual Financial Statement. This is the main budget document. Under Article 112 of the Constitution, a statement of estimated receipts and expenditure of the government of India has to be laid before Parliament for every financial year. This statement shows the receipts and payments of Government under the three parts in which Government accounts are kept: (1) Consolidated Fund (2) Contingency Fund and (3) Public Account. What is Revenue Budget? This consists of the r
What is London Interbank Offered Rate (LIBOR)?
London Interbank Offered Rate (LIBOR) is an interest rate at which banks can borrow funds from other banks in the London interbank market. One of the world’s most widely used benchmarks for short-term interest rates, LIBOR rates were first used in financial markets in 1986. From then on LIBOR has been growing in stature and today it is the key reference rate for financial products worth about $350 trillion. Small changes in the LIBOR can cause ripples in the money market. LIBOR is fixed on a dai
Where is world largest solar telescope developed?
India's remotely controlled terrestrial solar telescope, which will be the largest of its kind in the world will be operational by 2013. A high-resolution two-metre class solar telescope be placed soon to help scientists study the sun. The solar telescope will developed by the Indian Institute of Astrophysics in Banglore in collaboration with the Inter-University Centre for Astronomy and Astrophysics Pune and the Aryabhatta Research Institute of Observational Sciences, Nainital. The remot
What is Micro Credit and Self Help Group?
Micro Credit is defined as provision of thrift, credit and other financial services and products of very small amount to the poor in rural, semi-urban and urban areas for enabling them to raise their income levels and improve living standards. Micro Credit Institutions are those which provide these facilities. What is a Self-Help Group ? A Self-Help Group (SHG) is a registered or unregistered group of micro entrepreneurs having homogenous social and economic background, voluntarily coming to
What is Intergovernmental Panel on Climate Change (IPCC)?
The Intergovernmental Panel on Climate Change (IPCC) is an international body, which comprehensively assesses increasing levels of greenhouse gases in the worlds and passes that information on to policymakers through its reports. Why is it in news? Along with former U.S. Vice President Al Gore, the IPCC has been awarded the 2007 Nobel Peace Prize for its efforts to educate the public on the threat of global warming and for creating an informed consensus about its connection with human activities
What is Higgs boson?
The Higgs boson is a particle in the standard model of particle physics. Its existence was postulated in 1960s, to explain why the tiny particles that make up atoms have mass. Physicist Peter Higgs and 5 other theoretical physicists proposed that an invisible field lying across the universe gives particles their mass, allowing them to clump together to form stars and planets. Prof. Higgs predicted that this field, the Higgs Field, would have a signature particle, a massive boson. Finding it woul
What is the Indo US Civilian Nuclear Deal?
India and the United States signed a landmark deal in October 2008, which allows India access to US civil nuclear fuel and technology. What is it that makes this deal so significant? How does India stand to gain from it ? Here are some answers to these questions : What is the Indo-U.S. Civilian Nuclear Deal ? This is a deal between India and the United States for civil nuclear cooperation. Under this agreement, the United States can sell civilian nuclear fuel and technology to India. India in
What are the Child Rights?
Who is a Child? Article 1 of the UN Convention on the Rights of the Child says, a child means every human being below the age of eighteen years unless under the law applicable to the child, majority is attained earlier. What is the Convention on the Rights of the Child? The United Nations Convention on the Rights of the Child, often referred to as CRC or UNCRC, is an international convention setting out the civil, political, economic, social and cultural rights of children. Nations that ra
What is credit rating?
A credit rating assesses the credit worthiness of an individual, corporation, or even a country. Credit ratings are calculated from financial history and current assets and liabilities. Typically, a credit rating tells a investor the probability of the subject being able to pay back a loan. However, in recent years, credit ratings have also been used to adjust insurance premiums, determine employment eligibility, and establish the amount of a utility or leasing deposit. A rating is an opinion of
