TNPSC Current Affairs October 13, 2020

www.tnpsc.academy – TNPSC Current Affairs October 13, 2020 (13/10/2020)

Download as PDF in English

Topic: Awards and Honors, Persons in News

Nobel Prize in Economic Sciences

The Royal Swedish Academy of Sciences awarded Sveriges Riksbank Prize in Economic Sciences, 2020 to Paul Milgrom and Robert Wilson (both from the USA) for their work on commercial auctions.

Key facts:

Sveriges Riksbank Prize in Economic Sciences, 2020 is given in memory of Alfred Nobel and is popularly (but incorrectly) known as Nobel Prize for Economics.

As it is not one of the five Nobel prizes that Alfred Nobel established in his will in 1895, it is not a Nobel Prize.

It was created in 1968 by a donation from Sweden’s central bank Sveriges Riksbank to the Nobel Foundation to commemorate the bank’s 300th anniversary and includes a 10 million Swedish kronor award money — roughly Rs 8.33 crore.

It is officially titled the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”.

 

 

The 2020 Edition:

Milgrom and Wilson improved the auction theory and invented new auction formats for auctioning off many interrelated objects simultaneously, on behalf of a seller motivated by broad societal benefit rather than maximal revenue.

Their work will benefit sellers, buyers and taxpayers around the world. It will help in auctioning goods and services, such as radio frequencies, which are difficult to sell in traditional ways.

Wilson developed the theory for auctions of objects with a common value — a value which is uncertain beforehand but, in the end, is the same for everyone. Examples include the future value of radio frequencies or the volume of minerals in a particular area.

Wilson’s work showed why rational bidders tend to bid under their own estimate of the worth due to worries over the “winner’s curse”.

The winner’s curse is a tendency for the winning bid in an auction to exceed the intrinsic value or true worth of an item. Milgrom came up with a more general theory of auctions, by analysing bidding strategies in different auction forms.

_

Topic: Persons in News

Dr. Ram Manohar Lohia

The Prime Minister of India paid tribute to socialist Dr. Ram Manohar Lohia on his death anniversary.

Key facts:

Birth: 23rd March, 1910 in Akbarpur, Uttar Pradesh

Indian politician and activist who was a prominent figure in socialist politics and in the movement towards Indian independence. Much of his career was devoted to combating injustice through the development of a distinctly Indian version of socialism.

Socialism refers to a set of political ideas that emerged as a response to the inequalities present in, and reproduced by, the industrial capitalist economy.

_

Topic: Latest Diary of Events

National Postal Week and World Post Day – October 9

India Post commenced the celebration of the National Postal Week, starting with World Post Day which is celebrated each year on 9th October.

Key facts:

National Postal Week: It is celebrated from 9th to 15th October every year.

It aims to generating a broad awareness about India Post’s role and activities among the public and media at the national level

World Post Day: It is celebrated each year on 9th October, to commemorate the establishment of the Universal Postal Union (UPU) in 1874 in the Swiss capital, Berne. It was declared as World Post Day by the UPU Congress held in Tokyo, Japan, in 1969.

It aims to create awareness about the role of the postal sector in the lives of people and business and its contribution to the social and economic development of the country.

Quick notes:

The Department of Posts (Ministry of Communications) has launched a scheme called Five Star Villages. The scheme seeks to bridge the gaps in public awareness and reach of postal products and services, especially in interior villages.

The Prime Minister launched India Post Payments Bank (IPPB) on 1st September 2018 aimed at making banking services available at people’s doorstep.

A Customized My Stamp on India’s First Anti Satellite Missile (A-SAT) launch was released by the Department of Posts on the occasion of Engineers Day on 15th september, 2020.

_

Topic: Places in News

Mount Kilimanjaro

Recently, a fire that has broken out on the slopes of Mount Kilimanjaro, the highest peak in Africa. The cause of the fire is not clear but strong winds and dry weather have caused it to spread fast.

It is located in Tanzania, Mount Kilimanjaro is Africa’s tallest mountain at about 5,895 meters. It is also the largest free-standing mountain rise in the world, meaning it is not part of a mountain range.

_

Topic: Latest inventions on Science and Technology

India – Cow dung-based chip ‘Gausatva Kavach’ to reduce phone radiation

More than 500 gaushalas produce such anti-radiation chips, which cost between Rs. 50 and Rs. 100. It is manufactured by Rajkot-based Shrijee Gaushala. The aim is to make the concept popular so that is it adapted more.

India has come up with a new cow dung-based chip, which is claimed to reduce smartphone radiation. Vallabhbhai Kathiria, chairman of Rashtriya Kamdhenu Aayog has introduced the new Gausatva Kavach chip, which will protect us from harmful phone radiation.

_

Topic: Profile of States

Kerala became the First Digital State in Public Education

Kerala has become the first state in the country that have made the public education completely digital. Kerala achieved this milestone within two years of the launch of the initiative. Total expenditure on the initiative was Rs 42.36 crores. The project was implemented by Kerala Infrastructure and Technology for Education.

_

Topic: India and its Neighboring Countries, International Events

Bangladesh cabinet approves capital punishment for rape

Bangladesh Cabinet approved a draft law to include death penalty as the highest punishment for rape. This will be done by amending the Prevention of Women and Children Repression Act-2000. This decision was taken after the Cabinet meeting which was Chaired by Prime Minister Sheikh Hasina in Dhaka on October 12, 2020.

Key facts:

The Minister for Law, Justice and Parliamentary Affairs of Bangladesh is Anisul Haq. The minister highlighted that the ordinance will be issued after the President approves it.

Currently, the highest punishment for rape in Bangladesh is life imprisonment. However, capital punishment is allowed if the rape victim dies. The decision to amend the punishment was taken after a series protests triggered in the aftermath of sexual assaults.

Rapes in Bangladesh:

In between January and August 2020, around 890 rapes have occurred. It also include gang rapes. Out of these, around 40 victims have died.