Current Affairs 7th April 2018

Current Affairs 7th April 2018 - Important Points

• RBI directs banks to stop services to businesses dealing in virtual currencies on - 5th April 2018
• International Day of Sport for Development and Peace 2018 observed globally on - 6th April 2018
• Qatar to allow women to volunteer for national service by - the Gulf Nation Emir Sheikh Tamim bin Hamad Al Thani
• RH300 sounding rocket launched for atmospheric studies by - Vikram Sarabhai Space Centre 

Current Affairs 7th April 2018 - Details

RBI directs banks to stop services to businesses dealing in virtual currencies on - 5th April 2018

The RBI directed all the banking system controlled by it to block providing services to trades dealing in virtual currencies consisting bitcoin, to safeguard user interest and check money laundering, on April 5th , 2018.
Reserve Bank of India informed in an announcement that looking at the associated dangers, it has been
finalised entities controlled by Reserve Bank of India shall not provide facilities to any individual or trade entities dealing with or settling virtual currencies and stop that with instantaneously".
The central bank stated in its 1st bi-monthly monetary policy review that via technological inventions together with virtual currencies have the latent to improve the efficiency and comprehensiveness of the monetary system, they also increase consumer protection concern, market honesty and money laundering.

Reserve Bank of India has also regularly alerted its subscribers, accountholders and businesspersons with regard the various risks concerned in dealing with virtual currencies.  VCs are also referred to as crypto-currencies and crypto-assets.

International Day of Sport for Development and Peace 2018 observed globally on - 6th April 2018

The International Day of Sport for Development and Peace was celebrated across the world on April 6th , 2018 with an objective to recognise the increasing contribution of sport to the development realisation and peace in its advancement of tolerance and respect. 

Sport has a crucial role as a peace promoter and for economic progress in various geographical, cultural and political backgrounds. It acts as a commanding tool to spread peace and understanding by carrying people all together across the limits, cultures and religions.

When was the day proclaimed?

• The Day honours the date of the appointment of the 1st Olympic games of the contemporary era in Athens, Greece in 1896.
• The UN General Assembly finalise to announce 6th April as the International Day of the Sport for the Development and the Peace on 23rd August 2013 through its resolution. The day was 1st observed in the year 2014.
• The acceptance of the day by the United Nations shows the positive influence of sport on the advancement of human, communal and economic progress.

Qatar to allow women to volunteer for national service by - the Gulf Nation Emir Sheikh Tamim bin Hamad Al Thani

Qatar would be announcing national service for females for the 1st time with instantaneous effect, under a new law delivered by the Gulf Nation Emir Sheikh Tamim bin Hamad Al Thani.
The country has also prolonged the time served in the military by recruited men. While females aged more than 18 will now be capable to volunteer for national service under the law, males will have to work for a year instead of 3 months.
Important Highlights

• It is the 1st time that females have been permitted to work for national service, although some females already serve in the military in directorial roles.
• While the national service is essential for Qatari men aged among 18-5, for females it would be voluntary. 
• The new law also permits for a National Service Academy to be formed and informs that men necessity apply for the service within sixty days of turning 18.
• Anyone found trying to dodge military service could be punished up to 3 years in jail and a fine of about 50,000 Qatari riyals.

RH300 sounding rocket launched for atmospheric studies by - Vikram Sarabhai Space Centre

The RH-300 MKII sounding rocket established by IRSO’s Vikram Sarabhai Space Centre was fruitfully
released from Thumba Equatorial Rocket Launching Station in Thiruvananthapuram, Kerala.
Key Points

• The rocket was released by Vikram Sarabhai Space Centre under SOUREX programme for atmospheric studies.
• It uses this rocket to observe Equatorial E and lower-ionosphere regions of atmosphere.
• The observation will enrich accessible atmospheric information and refine models utilised for tropical weather forecast.
• The aim of experiment is to calculate neutral wind in dynamo region of equatorial ionosphere using made in India Electron Density and Neutral Wind Probe. It will also achieve cross-validation with an
  independent Tri Methyl Aluminium release method.
  Did you know?
• It was overall 21st release of RH300 sounding rocket.
• Atmospheric observations with Tri Methyl Aluminium were done in 1960’s using sounding rockets of overseas nations and 1st it was released on May 2nd , 1965 using Centaure rocket.
• Following a prolonged gap, Tri Methyl Aluminium experiment is being directed now with developed in India payload and rocket.