International Organizations, Defence, Books & Authors, World History

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The National Doctors’ Day (NDD) is celebrated every year in India on July 1 to honour the legendary physician and the second Chief Minister of West Bengal, Dr Bidhan Chandra Roy. The day is an attempt to emphasize on the value of doctors in our lives and to offer them our respects by commemorating one of their greatest representatives.

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The Bretton Woods system is commonly refers to the international monetary regime that prevailed from the end of World War II until the early 1970s. Taking its name from the site of the 1944 conference that created the International Monetary Fund (IMF) and World Bank, the Bretton Woods system was history’s first example of a fully negotiated monetary order intended to govern currency relations among sovereign states.

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Oslo Accords or Oslo Process refers to two agreements between Israel and the Palestine Liberation Organization. First is the Oslo I Accord, signed in Washington in 1993 and second is Oslo II Accord, signed in Taba, Egypt in 1995. It resulted in recognition of Israel by the PLO and the recognition by Israel of the PLO as the representative of the Palestinian people and as a partner in bilateral negotiations.

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Central Excise Day is observed on February 24 in India. This day commemorates the establishment of the Central Excise Department in 1944, which plays a crucial role in the country’s revenue system by collecting indirect taxes on goods produced or manufactured in India. The observance aims to raise awareness about the importance of excise duties and the role of the department in the economy.

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Flexible Credit Line (FCL) is a lending scheme of the International Monetary Fund (IMF). The FCL was created in 2009 after the 2007 Financial Crisis. It was designed to meet the demand for crisis prevention and crisis mitigation lending for countries with strong policy frameworks and track records in economic performance. The FCL is useful for both crisis prevention and crisis resolution.
The FCL is a precautionary credit line that lasts one or two years. The repayment period is the same as for the Stand by Arrangement (SBA). Only Mexico, Colombia, and Poland have subscribed to the FCL.

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“Nomadic Elephant” is a joint military exercise focusing on counter-insurgency and counter-terrorism operations between India and Mongolia. This exercise is part of a series of military cooperation activities undertaken by the Indian Army with various countries and is aimed at enhancing military cooperation and interoperability, particularly in areas related to counter-insurgency and counter-terrorism.

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Ping pong diplomacy refers to the brief thaw in relations between the United States and China in the early 1970s, which was facilitated in part by the exchange of table tennis players between the two countries. In April 1971, a group of American table tennis players visited China for a tournament, and the Chinese government invited them to stay for several days. This marked the first time in more than 20 years that Americans had been allowed to visit China. The visit was followed by several high-level diplomatic meetings between the two countries, which ultimately led to the establishment of diplomatic relations between the US and China in 1979.

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SLINEX is a bilateral naval exercise that takes place between the navies of India and Sri Lanka. It is an acronym for “Sri Lanka-India Naval Exercise”. The exercise typically involves a variety of naval drills and training activities, including surface warfare, anti-air warfare, anti-submarine warfare, and search and rescue operations. The first SLINEX exercise was held in 2005, and it has been conducted regularly ever since. The exercise is aimed at improving the interoperability and cooperation between the navies of India and Sri Lanka, and at enhancing the security and stability of the Indian Ocean region.

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Notes:
The Kudankulam Nuclear Power Plant (KKNPP) is a joint venture between India and Russia. The plant is located in the Tirunelveli district of Tamil Nadu. It is the largest nuclear power station in India.
The plant was built as a result of an inter-governmental agreement signed in 1988 by then Indian Prime Minister Rajiv Gandhi and Soviet Union leader Mikhail Gorbachev. The agreement called for the construction of two reactors of 2 GW. The first concrete for unit 1 was poured in March 2002, and for unit 2 four months later.
The reactors are pressurised water reactors of Russian design. The thermal capacity is 3,000 MW, the gross electrical capacity is 1,000 MW, and the net capacity is 917 MW.