Subprime Market

• A “prime” borrower in banking parlance is one with a good credit history and an excellent repayment track record. “Subprime” refers to below prime, or customers who have questionable or limited credit histories.
• This market, which came into focus during the 2008 financial crisis, originated in the US in the 1990s to extend home, car and other loans to subprime customers, who typically pay higher interest charges than the prime customer to compensate for the riskiness of these loans.
• From 2000 until the bankruptcy of Lehman Brothers in September 2008, this market expanded along with the housing boom in the US.
• The unsaid assumption among bankers was that even although subprime customers may have a questionable repayment capability, the appreciation in price of underlying assets such as home (on which loan is given) would rise in the future, providing enough security for the loan.
• In the Indian context, credit information bureaus assess the repayment track record and financial history of customers. CIBIL, for instance, assigns a score based on an individual’s credit behaviour as reflected in accounts and statements.
• While there is no explicit concept of subprime customers in India, an individual with score substantially below 700 could be put in the subprime category.

Smart fencing will put an end to infiltration: Rajnath

• Union Home Minister Rajnath Singh inaugurated the first phase of hi-tech ‘smart fencing’ of a 11 km stretch on the International Border (IB) .
• The Comprehensive Integrated Border Management System (CIBMS) would provide for round-the-clock laser-guided surveillance of the borders.

Smart fencing

• The smart fencing project will initially be implemented to cover gaps in the physical fencing.
• The smart fencing is a web of surveillance, communication and data storage devices.
• It will enable surveillance during difficult weather conditions and reduce the need for physical patrolling of the borders.
• It will rely on thermal imaging, infra-red and laser-based intruder alarms to stop infiltration.
• A total of 2,026 km border was vulnerable. “Digital fencing will make it virtually impossible for terrorists to infiltrate

Germany rolls out world’s first hydrogen train-It uses fuel cells that produce electricity through a combination of hydrogen and oxygen, leaving behind water and steam

• Germany rolled out the world’s first hydrogen-powered train, signalling the start of a push to challenge the might of polluting diesel trains with costlier but eco-friendly technology.

Zero emission

• Hydrogen trains are equipped with fuel cells that produce electricity through a combination of hydrogen and oxygen, leaving behind steam and water as the only emissions.
• Excess energy is stored in ion lithium batteries on board the train.
• The Coradia iLint trains can run for around 1,000 km on a single tank of hydrogen, similar to the range of diesel trains.
• This technology is claimed as a greener, quieter alternative to diesel on non-electrified railway lines — an attractive prospect to many German cities scrambling to combat air pollution.
• Buying a hydrogen train is somewhat more expensive than a diesel train, but it is cheaper to run.

The World Economic Forum

• The World Economic Forum is the International Organization for Public-Private Cooperation.
• The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas.
• It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.
• It is independent, impartial and not tied to any special interests.
• The foundation produces a series of research reports and engages its members in sector-specific initiatives.
• Global Information Technology Report, Travel and Tourism Competitiveness Report. Global Competitiveness Report (GCR) are released by WEF