TERMS OF THE WEEK (3rd May, 2024)

S.No.

Term

About

1.        

Air Independent Propulsion (AIP) System

The AIP has a force multiplier effect on lethality of a diesel electric submarine as it enhances the submerged endurance by several folds.

2.        

Air-to-surface missile (ASM) or air-to-ground missile (AGM)

An air-to-surface missile (ASM) or air-to-ground missile (AGM) is a missile designed to be launched from military aircraft at targets on land or sea.

3.        

Balanced fertilization

It is the use of right ratio of nutrients as per soil or crop requirement. The requirement of nutrients such as Nitrogen, Phosphate and Potash are soil and crop specific.

4.        

Climate Finance

It generally refers to finance for activities aiming to mitigate or adapt to the impacts of climate change.

5.        

Consumer Price Index

This price index calculates price changes of goods and services that a consumer has to pay for consuming a basket of goods.

6.        

Exclusive Economic Zone (EEZ)

An exclusive economic zone (EEZ) is an area of the ocean extending 200 nautical miles (370 km) beyond a nation’s territorial sea (12 nautical miles or 12 miles from the coast).

7.        

Front-running

Trading stocks or any other financial asset while possessing intimate knowledge of a forthcoming transaction.

8.        

Foreign portfolio investment (FPI)

Foreign portfolio investment (FPI) is securities and other assets passively held by foreign investors, allowing individuals to invest overseas.

9.        

Glacial lake outburst floods or GLOF

When the boundary around unstable glacial lake breaks, and huge amounts of water rush down the side of the mountains, which could cause flooding in the downstream areas.

10.    

Intellectual property rights (IPR)

Intellectual property rights (IPR) refers to the legal rights given to the inventor or creator to protect his invention or creation for a certain period of time.

11.    

Money laundering 

Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them. 

12.    

Overtourism

Overtourism results from tourist demand exceeding the carrying capacity of host communities in a destination. 

13.    

Ocean currents

Ocean currents are the continuous, predictable, directional movement of seawater driven by gravity, wind (Coriolis Effect), and water density.

14.    

Organic fertilizers 

They are fertilizers that are naturally produced. The main organic fertilizers are, peat, animal wastes, plant wastes from agriculture, and treated sewage sludge.

15.    

On-tap bank licensing

On-tap bank licensing facility, introduced in 2016, enables a window for making applications for bank licenses at the RBI throughout the year. 

16.    

Treasury bills

Treasury bills are money market instruments issued by the Government of India as a promissory note with guaranteed repayment at a later date.

17.    

Universal Banks

Universal Banks are financial entities like commercial banks, financial institutions, NBFCs, etc. that undertake multiple financial transactions.

18.    

Wholesale Price Index

It is a measure of the average change in the price of goods at a wholesale level or in the wholesale market.