GATI web portal
Why in news?
- Union Minister for Road Transport and Highways launched online Web Portal ‘GATI.’
Key facts
- The portal has been created by National Highways Authority of India (NHAI) taking inspiration from the PRAGATI Portal used by PMO.
- It can be accessed from NHAI Website and contractors/concessionaires can raise any project related issues on the Portal.
- The issue will immediately come to the notice of every official of NHAI including top management, and immediate action will be taken by the concerned officer, duly updating on the Portal. This will bring transparency and speed up the decision making giving real GATI to highway construction.
Ophichthus kailashchandrai
Why in news?
- A new snake eel species residing in the Bay of Bengal has been discovered and documented this month (January) by the Estuarine Biology Regional Centre (EBRC) of the Zoological Survey of India (ZSI) at Gopalpur-on-sea in Odisha.
- This new marine species has been named Ophichthus kailashchandrai to honour the vast contributions of Dr. Kailash Chandra, Director of ZSI, to Indian animal taxonomy.
- Ophichthus kailashchandrai is the eighth species of the Ophichthus genus found on the Indian coast. It is the fifth new species discovered by the Gopalpur ZSI in the last two years.
Bay of Bengal: - Three specimens of the new species were collected from the Shankarpur fishing harbour in the northern region of the Bay of Bengal on the West Bengal coast in 2015.
- Detailed study for over four years led to the discovery that they belonged to a newly discovered species living in the Bay of Bengal.
Key facts
- The eel family ‘Ophichthidae’ comprises two sub-families — Myrophinae (69 species) and Ophichthinae (276 species).
- The sub-family Ophichthinae is identified by its hard tail and other osteological (bone) features, and it has 17 genera and 24 species. Out of them, seven species from the Ophichthus genus were earlier identified in Indian waters. The recent discovery is the eighth species of this genus.
- The Ophichthus kailashchandrai lives at a depth of around 50 metres in the sea. According to the studied specimens, individuals of this species are around 420 mm to 462 mm in length. They are light brown in colour, with white fins.
- They have a well-developed pectoral fin and also have a dorsal fin.
- Their posterior nostril is a hole covered by a flap on the upper lip opening towards the mouth.
- There are 180-182 total vertebrae in this new species.
- Their teeth are moderately elongated, conical and sharp.
- Ophichthus kailashchandrai feeds on small fish and crabs.
IFSC Banking Units (IBUs)
Why in news?
- RBI granted the IFSC Banking Units (IBUs) being allowed to participate in exchange traded currency derivatives on rupee (with settlement in foreign currency) listed on stock exchanges set up at IFSCs.
Key facts
- The Reserve Bank of India (RBI) said banks should ensure their IBUs should have necessary expertise to price, value and compute the capital charge and manage the risks associated with the products /transactions intended to be offered.
- The RBI also stated that banks should also obtain their board’s approval for undertaking such transactions.
- IBUs shall follow all other risk mitigation and prudential measures as applicable and detailed in this circular while participating in these products.
- The central bank had earlier accepted the recommendation made by the Task Force on Offshore Rupee Markets chaired by Usha Thorat following which it permitted rupee derivatives (with settlement in foreign currency) to be traded in IFSC.
Thai Amavasai festival
Why in news?
- Thai Amavasai was observed throughout Tamil Nadu with devotion and traditional rites on January 24.
About:
- Thai Amavasai is the first New Moon that comes after the Sun starts moving towards the Northern hemisphere.
- The day is believed to be astrologically significant and hence considered to be holy. Bathing in holy rivers and offering rituals to ancestors form important aspects of the Amavasai day.
- People gathered to perform rituals at Poompuhar in Nagapattinam district, where the Cauvery River joins the Bay of Bengal. In the famous sea shore Shiva temple of Rameswaram, rituals are conducted on the famous glass idol.