DAILY CURRENT AFFAIRS,12th February 2020

Daily Current Affairs Dated on 12-Feb-2020

Contents: 1. Cleaning of drains & septic tanks claims 110 lives in 2019 2. Ministry of Earth Sciences may go in for decadal forecast system 3. RBI planning umbrella entities for retail payment systems

CLEANING OF DRAINS & SEPTIC TANKS CLAIMS 110 LIVES IN 2019 The number of people who New Delhi died while cleaning sewers and septic tanks in the country increased by almost 62% from 68 in 2018 to 110 in 2019.

Manual scavenging, is banned under the Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013.

Daily Current Affairs Dated on 12-Feb-2020

MINISTRY OF EARTH SCIENCES MAY GO IN FOR DECADAL FORECAST SYSTEM The Ministry of Earth Sciences (MoES) is planning a ‘decadal forecast’ system along the lines of the United Kingdom’s Met Office to ensure better predictability in the climate time scale.

This is a new idea with more relevance to present climate forecasting needs. So, given the need for longer range prediction for 10 or 20 years, we will be starting a new programme in the country using a coupled climate model by utilising signals emanating from deep oceans to predict decadal climate changes.

RBI PLANNING UMBRELLA ENTITIES FOR RETAIL PAYMENT SYSTEMS 

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The Reserve Bank of India (RBI) has proposed to set up a new pan-India new umbrella entity (NUE) or entities focusing on retail payment systems with a minimum paid-up capital of Rs 500 crore.

The proposed entity will set up, manage and operate new payment systems especially in the retail space comprising of, but not limited to ATMs, white label PoS, Aadhaar-based payments and remittance services, develop payment methods, standards and technologies, monitor related issues and internationally, take care of developmental objectives like enhancement of awareness about the payment systems.

Operate clearing and settlement systems.

Identify and manage relevant risks such as settlement, credit, liquidity and operational preserve the integrity of the system.

Monitor retail payment system developments and related issues in the country and internationally to avoid shocks, frauds and contagions that may adversely affect the system and the economy in general.