Indian Navy ‘Imphal’ sails for maiden sea trials (GS Paper 3, Defence)
Why in news?
- Imphal, Indian Navy’s third indigenous stealth destroyer of the Project 15B class, planned to be commissioned later in 2023, undertook her maiden sea sortie recently.
Key Highlights:
- The ship incorporates several niche technologies and high indigenous content.
- It is designed in-house by the Navy’s Warship Design Bureau and constructed by Mazagon Dock Ltd. (MDL).
- Imphal will have the unique distinction of being the largest and most advanced destroyer to be ever named after a city from the North-East.
- Imphal would thus be a befitting symbol of the growing importance and contribution of the North-Eastern region and the state of Manipur towards national security and development.
Way Forward:
- Imphal will add significantly to the Indian Navy’s combat capabilities.
- With the recent commissioning of her predecessor INS Mormugao in December 2022 and the fifth Project 75 submarine INS Vagir in January 2023, commencement of sea trials of Imphal is yet another important milestone in MDL’s continued contribution towards building a strong, modern and self-reliant India.
PM inaugurates 91 new 100W FM Transmitters adding 2 crore listeners to All India Radio network
(GS Paper 3, Science and Tech)
Why in news?
- Recently, Prime Minister commissioned Low Power FM Transmitters of capacity of 100 Watt at 91 locations.
- These transmitters of have been installed in 84 districts of 20 states.
Key Highlights:
- With this the network of transmitters with All India Radio has increased from 524 to 615. The addition will further boost the coverage of AIR to 73.5% of the population of the country.
- Left Wing Extremism hit areas, Aspirational Districts and border areas of the country have been given priority for the installation of the transmitters.
- Clear sound quality and easy availability of FM receiver equipped mobile phones has increased the demand of FM radio service in the country.
- In another major step towards meeting this demand and capacity building of the organisation, Government has further approved installation of 63 more FM transmitters in the country.
Background:
- As part of the government’s commitment to enhancing FM connectivity in the country, 91 new 100W FM transmitters have been installed in 84 districts across 18 States and 2 Union Territories.
- A special focus of this expansion has been on enhancing coverage in Aspirational Districts and in border areas.
- The States and UTs which are covered include Bihar, Jharkhand, Odisha, West Bengal, Assam, Meghalaya, Nagaland, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Andhra Pradesh, Kerala, Telangana, Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Ladakh and Andaman & Nicobar Islands.
Way Forward:
- With this expansion of AIR’s FM service, an additional 2 crore people will now be covered who did not have access to the medium.
- It will result in the expansion of coverage in about 35,000 sq km area.
Zimbabwe plans to launch digital currency backed by gold
(GS Paper 3, Economy)
Why in news?
- Zimbabwe is to launch a digital currency by introducing tokens that are backed by gold reserves and can be transferred between people and businesses as a form of payment.
- The move is aimed at shoring up Zimbabwe's faltering national currency, the Zimbabwe dollar, which is fast depreciating amid years long economic woes.
Digital currencies in other nations:
New tokens in Zimbabwe:
- In Zimbabwe, the new tokens will be fully backed by physical gold held by the ban and will go into circulation on May 8, Reserve Bank of Zimbabwe said.
- People can buy the tokens and use them as a way to save their money or conduct person-to-person and person-to-business transactions and settlements.
- People will be able to buy the tokens through banks and make transactions using e-gold wallets or e-gold cards held by banks.
- International gold prices determined by the London Bullion Market Association will dictate the local pricing of the tokens.
Hyperinflation:
- Trust in Zimbabwe’s currency is desperately low after people in 2008 had their savings wiped out by hyperinflation, which reached 5 billion percent, according to the International Monetary Fund, nearly a world record.
- The hyperinflation resulted in the country at one point issuing a 100 trillion Zimbabwe dollars banknote before the government was forced to temporarily scrap its currency and allow the U.S. dollar to be used as legal tender.
- In 2019, the government reintroduced a Zimbabwean currency and banned foreign currencies for local transactions. But few took heed and the black market thrived, while the local currency quickly devalued. The government relented and unbanned the U.S. dollar.
Way Forward:
- Zimbabwe has tried to stave off the depreciation of its currency with unusual ideas before. In July 2022, it launched gold coins as legal tender to stabilize the local currency. But many people struggling to buy everyday basics such as bread found them too pricey.
- The introduction of the digital currency will ensure that those with low amounts of money can trade them.
