4th JULY 2017
1. Enforcement Directorate
- It is a law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India.
- It is part of the Department of Revenue, Ministry of Finance.
- The prime objective of the Enforcement Directorate is the enforcement of two key Acts of the Government of India namely, theForeign Exchange Management Act 1999 (FEMA) and the Prevention of Money Laundering Act 2002 (PMLA)
- The origin of this Directorate goes back to 1 May 1956, when an ‘Enforcement Unit’ was formed, in Department of Economic Affairs, for handling Exchange Control Laws violations under Foreign Exchange Regulation Act, 1947.
- In the year 1957, this Unit was renamed as ‘Enforcement Directorate’
2. Prevention of Money Laundering Act, 2002
- It is an Act of the Parliament of India enacted to prevent money-laundering and to provide for confiscation of property derived from money-laundering.
- PMLA and the Rules notified there under came into force with effect from July 1, 2005.
- The Act and Rules notified there under impose obligation on banking companies, financial institutions and intermediaries to verify identity of clients, maintain records and furnish information in prescribed form to Financial Intelligence Unit – India (FIU-IND).
- The act was amended in the year 2005, 2009 and 2012.
3. Financial Intelligence Unit – India (FIU-IND)
- It was set by the Government of India in 2004 as the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions.
- FIU-IND is also responsible for coordinating and strengthening efforts of national and international intelligence, investigation and enforcement agencies in pursuing the global efforts against money laundering and related crimes.
4. Maccabiah Games
- It is an international Jewish multi-sport event now held quadrennially in Israel.
- It is the third-largest sporting event in the world, (after the Olympics and the FIFA World Cup) with 10,000 athletes competing.
- The Maccabiah Games are often referred to as the “Jewish Olympics“.
- It was first held in 1932.
- The 20th Maccabiah Games, is being held in July 2017
- The Maccabiah Games are open to Jewish athletes from around the world, as well as to all Israeli athletes regardless of religion. Arab Israelis have also competed in it.
- The Maccabiah is a forum for Jewish athletes to meet and convene; it also provides these athletes with opportunities to explore Israel and Jewish history.
- It is the migration of the Jewish diaspora to Israel
- Among the Indian groups which migrated in large numbers are the Bene-Israelis from Maharashtra, Cochin Jews, Baghdadi Jewsfrom Kolkata, as well as some from the so-called “lost tribe” of B’nai-Menache from Manipur.
6. Medical Termination of Pregnancy Act of 1971
- It bars abortion if the foetus has crossed the 20-week mark.
- An exception to the law is made if a registered medical practitioner certifies to a court that the continued pregnancy is life-threatening for the mother or the baby.
- It was possible to detect certain abnormalities before 20 weeks, but some could be detected only after that period.
- The Supreme Court’s decision whether a woman should be allowed to abort or not after the 20 weeks period has been on a case-to-case basis.
- The primary factor that has guided its decisions has been the expert opinion of a court-appointed medical board on the risk it poses to the mother and the child.
7. Special Leave Petition (SLP)
- It is a “residual power” in the hands of Supreme Court of India to be exercised only in cases when any substantial question of law is involved, or gross injustice has been done.
- The Constitution of India under Article 136 vests the Supreme Court of India, the apex court of the country, with a special power to grant special leave, to appeal against any judgment or order or decree in any matter or cause, passed or made by any Court/tribunal in the territory of India.
- It is to be used in case any substantial constitutional question of law is involved, or gross injustice has been done.
- It is discretionary power vested in the Supreme Court of India and the court may in its discretion refuse to grant leave to appeal.
8. Terminal High Altitude Area Defense (THAAD) anti-missile system
- Terminal High Altitude Area Defense (THAAD), formerly Theater High Altitude Area Defense, is a United States Army anti-ballistic missile defense system designed to shoot down short, medium, and intermediate range ballistic missiles in their terminal phase by intercepting with a hit-to-kill approach.
- The THAAD interceptor carries no warhead, but relies on its kinetic energy of impact to destroy the incoming missile.
- A kinetic energy hit minimizes the risk of exploding conventional warhead ballistic missiles, and nuclear tipped ballistic missiles will not detonate upon a kinetic energy hit.
- The THAAD system is being designed, built, and integrated by Lockheed Martin Space Systems acting as prime contractor.
- THAAD has been deployed in the United Arab Emirates, Turkey, and South Korea.
9. Co-location case of National Stock Exchange (NSE)
- The co-location issue relates to brokers placing their servers at the NSE exchange’s premises during 2011-14, which reduces the time for an order and provides a speed advantage over those located away from the premises.
- The ‘co-location’ controversy that had engulfed National Stock Exchange (NSE) appears to have claimed a scalp in founder-member Ravi Narain, who has quit the NSE board.
10. Kalam Sat
- ‘Kalam Sat’, a femto category satellite named after former President A.P.J. Abdul Kalam, was selected in a contest for launch by NASA. It was launched in June 2017.
- It has been designed by a six-member team from Chennai-based Space Kidz India
- The satellite is termed as world’s lightest (weighing a mere 64 gm) and also the first 3D-printed.
- It is a 3.8 cm cube satellite, made of reinforced carbon fibre polymer.
- The satellite contained a temperature and humidity sensor, a barometric pressure sensor and a ‘Nano Geiger Muller counter’ to measure radiation in the outer space.
- This was the only satellite among the 70 cubes sent by the NASA rocket, while the other entries were experimental samples, say blood, chewing gum etc. to study their behaviour in space.