TNPSC Current Affairs March 14, 2020

www.tnpsc.academy – TNPSC Current Affairs March 14, 2020 (14/03/2020)

Topic: Latest Diary of Events

MARCH 14 is Pi Day

MARCH 14 is Pi Day, a celebration of the beloved constant pi. It is dedicated to pi, whose value up to five decimal places is 3.14159. The idea originated in the United States, where the convention is to write dates in a format that expresses March 14 as 3/14. These three digits match the value of pi up to two decimal places, at 3.14.

Coincidentally, March 14 is also Albert Einstein’s birthday. By definition, pi is the ratio of the circumference of a circle — any circle — to its diameter. The ratio is always constant.

Topic: Latest Diary of Events

What is circuit breaker in stock market?

In June 2001, the Securities and Exchange Board of India (SEBI) implemented index-based market-wide circuit breakers.

Circuit breakers are triggered to prevent markets from crashing, which happens when market participants start to panic induced by fears that their stocks are overvalued and decide to sell their stocks.

This index-based market-wide circuit breaker system applies at three stages of the index movement, at 10, 15 and 20 per cent.

Implications: When triggered, these circuit breakers bring about a coordinated trading halt in all equity and equity derivative markets nationwide.

Topic: Profile of States

Search and Rescue Exercise (SAREX-2020)

National level Search and Rescue Exercise (SAREX-2020) was conducted by the Indian Coast Guard in Goa. This is for the first time the 03 pillars of national SAR mechanism i.e. Ministry of Shipping, Ministry of Civil Aviation and Ministry of Defence, took part in SAREX20. It had the theme of Harmonization of Maritime and Aeronautical Search and Rescue code named ‘HAMSAR’.

SAREX exercise is being conducted biennially by Indian Coast Guard under the aegis of National Maritime Search and Rescue Board (NMSARB).

Topic: Public Awareness and General Administration, Political System in India

What is Essential Commodities Act?

Govt brings masks and hand sanitizers under the Essential Commodities Act. Under the EC Act, powers of the Central Government have already been delegated to the States by way of orders during 1972 to 1978. The States/UTs, therefore may take action against the offenders.

Background:

The coronavirus pandemic has triggered panic buying of masks and hand sanitisers at many places around the world, including in India.

The government’s order has come in the wake of reports of a shortage of these commodities and a sudden and sharp spike in their prices, and the alleged hoarding of stocks by manufacturers.

What is Essential Commodities Act?

The ECA was enacted way back in 1955. It has since been used by the Government to regulate the production, supply and distribution of a whole host of commodities it declares ‘essential’ in order to make them available to consumers at fair prices.

The list of items under the Act include drugs, fertilizers, pulses and edible oils, and petroleum and petroleum products.

The Centre can include new commodities as and when the need arises, and take them off the list once the situation improves.

Under the Act, the government can also fix the maximum retail price (MRP) of any packaged product that it declares an “essential commodity”.