Here are 2 Back2Basics collections from today’s news items

B2B #1: From news- [op-ed snap] Outcome-based financing for development in India

Social impact bond

1. A Social impact bond, also known as Pay for Success Financing, a Pay for Success Bond or a Social Benefit Bond  or simply a Social Bond, is a contract with the public sector in which a commitment is made to pay for improved social outcomes that result in public sector savings
2. The term was originally coined by Geoff Mulgan, Chief Executive of the Young Foundation
3. The first Social Impact Bond was launched by UK-based Social Finance Ltd. in September 2010
4. Social Impact Bonds are a type of bond, but not the most common type. While they operate over a fixed period of time, they do not offer a fixed rate of return
5. Repayment to investors is contingent upon specified social outcomes being achieved
6. Therefore, in terms of investment risk, Social impact bonds are more similar to that of a structured product or an equity investment.

 

B2B #2: From news- Strong winds in Atlantic create high waves off Indian coasts over 10,000 km away

Indian National Centre for Ocean Information Services (INCOIS)

1. INCOIS is an autonomous organization of the Government of India, under the Ministry of Earth Sciences
2. ESSO-INCOIS is a unit of the Earth System Science Organization (ESSO)
3. ESSO- INCOIS is mandated to provide the best possible ocean information and advisory services to society, industry, government agencies and the scientific community through sustained ocean observations and constant improvements through systematic and focused research

 

As a part of revision for Prelims 2018, Here’s a Factoid to brush up your concepts

Key words related to History : Vidhata

Dynasty/era : Vedic period

Meaning : 1.Vidatha appears for 122 times in the Rig-Veda and seems to be the most important assembly in the Rig Vedic period. Vidatha was an assembly meant for secular, religious and military purpose. 2.The Rig-Veda only once indicated the connection of woman with the Sabha whereas Vidatha is frequently associated with woman women actively participated in the deliberations with men. 3. Vidatha was the earliest folk assembly of the Aryans, performing all kinds of functions- economic, military religious and social. The Vidatha also provided common ground to clans and tribes for the worship of their gods.