Mineral Law Amendment Bill passed in Lok Sabha
– The bill aims to amend Mines and Minerals (Development and Regulation) Act, 1957 and Coal Mines (Special Provisions) Act, 2015. – The bill opens up the coal sector completely for commercial mining. – It also intends to remove end use restrictions to participate in coal mine auction
Quick Facts: The output of coal industry has been declining recently due to flooding of mines and labour unrest
2. National Affairs
Jan Aushadi Diwas
– Jan Aushadi Diwas is to be celebrated on March 7th 2020. -The day is being celebrated to commemorate the achievements of Pradhan Mantri Bharatiya Janaushadi Pariyojana. – Spread across 700 districts, these jan aushadi kendras are the biggest retail pharma chain in the world – They provide self-employment as well as awareness about generic medicines
Yes Bank Crisis
– RBI has taken actions for Yes Bank which is currently unable to raise funds that will help against loan losses. – It has selected SBI is to inject capital into Yes Bank – RBI has recommended the government of India to impose a month-long moratorium on SBI – RBI has imposed withdrawal restrictions of Rs 50,000 to the customers under the Banking Regulations Act 1949, Section 35A
4. India & The World
India-European Union to collaborate on Integrated Local Energy Systems
– The collaboration will be based on Mission Innovation, a global initiative of 24 countries. – It aims at accelerating clean affordable energy to create commercial opportunities. – Projects will be funded by the Department of Science and Technology (DST) – India and Sweden will also work on building smart grids.
Quick Facts: Smart Grids are electricity networks that allow devices to provide communication flow between consumers and suppliers, protect distribution network, allow to manage demand, save energy and reduce costs.
5. Science & Technology
International Conference on Nano-Science and Nano Technology held in Kolkata
– The conference was organised by Department of Science of Technology operating under Ministry of Science and Technology. – It highlighted the current need of India in the field of Nano-Science. – It includes 5Ms namely Material, Mechanical, Manufacturing, Manpower and Machines.