Current Affairs 7th September 2022

1.     CENTRAL REGISTRY OF SECURITIZATION ASSET RECONSTRUCTION AND SECURITY INTEREST OF INDIA (CERSAI)

  • News: The central government has granted income tax exemption to Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI).
  • About Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI):
    • It a body set up to record security interest of lenders on assets.
    • CERSAI was set up to keep a central record of the lien lenders have on collaterals in order to prevent people from borrowing against the same asset from different lenders fraudulently.
    • The company has been incorporated with majority shareholding of the Central Government, Public Sector Banks and National Housing Bank initially for the purpose of operating a Registration System under the provisions of Chapter IV of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
    • The Security Interest Registry, which was incorporated in 2011, made a humble beginning by filing of Security Interest of Immovable Properties, it has today matured into a complete registry encompassing security interest of immovable, movable, intangible properties and assignment of receivables.

2.     FLUE-GAS DESULFURIZATION

  • News: India had initially set a 2017 deadline for thermal power plants to install flue gas desuphurization (FGD) units to cut sulphur emissions. That was later changed to varying deadlines for different regions, ending in 2022, and further extended last year to a period ending 2025.
  • Details:
    • Indian cities have some of the world’s most polluted air. Thermal utilities, which produce 75% of the country’s power, account for some 80% of industrial emissions of sulphur- and nitrous-oxides, which cause lung diseases, acid rain and smog.
    • Only 40% of India’s total coal power capacity of 211.6 GW have been awarded bids for installing FGD while another 4% have already installed it.
  • About Flue – Gas Desulfurization:
    • Flue-gas desulfurization (FGD) is a set of technologies used to remove sulfur dioxide (SO
      2) from exhaust flue gases of fossil-fuel power plants, and from the emissions of other sulfur oxide emitting processes such as waste incineration.
    • Since stringent environmental regulations limiting SO2 emissions have been enacted in many countries, SO
      2 is being removed from flue gases by a variety of methods. Common methods used:
    • Wet scrubbing using a slurry of alkaline sorbent, usually limestone or lime, or seawater to scrub gases;
    • Spray-dry scrubbing using similar sorbent slurries;
    • Wet sulfuric acid process recovering sulfur in the form of commercial quality sulfuric acid;
    • SNOX Flue gas desulfurization removes sulfur dioxide, nitrogen oxides and particulates from flue gases;
    • Dry sorbent injection systems that introduce powdered hydrated lime (or other sorbent material) into exhaust ducts to eliminate SO2 and SO3 from process emissions.
  • About Sulfur Dioxide (SO2):
    • Sulfur dioxide is the chemical compound with the formula SO
      It is a toxic gas responsible for the smell of burnt matches.
    • It is released naturally by volcanic activity and is produced as a by-product of copper extraction and the burning of sulfur-bearing fossil fuels.
    • Sulfur dioxide has a pungent smell like nitric acid.
    • Sulfur dioxide emissions are a precursor to acid rain and atmospheric particulates.

3.     EARTHQUAKE

  • News: Authorities in southwestern China’s Chengdu have maintained strict Covid-19 lockdown measures on the city of 21 million despite a major earthquake that killed at least 65 people in outlying areas.
  • About Earthquakes:
    • An earthquake (also known as a quake, tremor or temblor) is the shaking of the surface of the Earth resulting from a sudden release of energy in the Earth’s lithosphere that creates seismic waves.
    • Earthquakes can range in intensity, from those that are so weak that they cannot be felt, to those violent enough to propel objects and people into the air and wreak destruction across entire cities.
    • The seismic activity of an area is the frequency, type, and size of earthquakes experienced over a particular time period.
    • The seismicity at a particular location in the Earth is the average rate of seismic energy release per unit volume. The word tremor is also used for non-earthquake seismic rumbling.
    • At the Earth’s surface, earthquakes manifest themselves by shaking and displacing or disrupting the ground.
    • When the epicenter of a large earthquake is located offshore, the seabed may be displaced sufficiently to cause a tsunami. Earthquakes can also trigger landslides.
Enquiry Form