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31st October 2019 Current Affairs

1. Submarine propulsion system test a success

  • The indigenous Air Independent Propulsion (AIP) system to enhance the endurance of conventional submarines being developed by DRDO reached a milestone with the successful operation of a land-based prototype. 
  • An AIP module enables conventional submarines to remain submerged for longer duration.Fuel cell-based AIP has merits in performance compared to other technologies
  • All Scorpene submarines of the Navy are planned to be equipped with an AIP module in due course
  • Scorpene-class submarines
  • These are a class of diesel-electric attack submarines jointly developed by the French Direction des Constructions Navales (DCN) and the Spanish company Navantia, and now by Naval Group.
  • It features diesel propulsion and an additional air-independent propulsion (AIP).

2. Chile pulls out from hosting climate and trade summits

  • Chile’s President announced that his country, which has been rocked by a wave of recent protests, was not in a position to host a key UN climate change meeting and major Asia-Pacific trade summit later this year.
  • The priority of Chilean government was to focus first and foremost on fully restoring public order and social peace,
  • Cancelling the climate meeting, which had been scheduled for December, leaves organisers with a very tight window to find a new venue. 
  • Chile stepped up to host the Climate Change Conference after the initial host, Brazil, pulled out last year.Brazil’s decision came soon after the election of President Jair Bolsonaro.

3. National Pension Scheme

  • Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enrol in National Pension Scheme (NPS) at par with Non-Resident Indians.
  • It is a government-sponsored pension scheme. It was launched in January 2004 for government employees. However, in 2009, it was opened to all sections.
  • The scheme allows subscribers to contribute regularly in a pension account during their working life. On retirement, subscribers can withdraw a part of the corpus in a lumpsum and use the remaining corpus to buy an annuity to secure a regular income after retirement.
  • This system is managed by PFRDA (Pension Fund Regulatory and Development Authority).

4. Cyclone Maha

  • The depression over Arabian Sea has intensified into a cyclonic storm. It is named Maha. The name is given by Oman.
  • This year, Maha will be the fourth Cyclone in Arabian Sea to form after Vayu, Hikaa, Kyaar

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