Doctrine of hot pursuit: 

• The doctrine of hot pursuit emerged as an exception to the fundamental principle of freedom of the high seas — the rights of vessels of all nations to navigate freely on the high seas. 
  
  
• At a time when smuggling and piracy were rampant, this customary doctrine emerged to empower a coastal state to pursue on to the high seas a vessel that had violated its laws within its waters. 
  
  
• Decades later, this customary doctrine was codified in the 1982 United Nations Convention on the Law of High Seas. 
  
  
• Apart from imposing procedural restrictions, the Convention clearly spelt out that the right of hot pursuit ceases as soon as the ship pursued enters the territorial sea of its own country or a third state. 
  
  
• Over the years, some countries have sought to introduce an expanded doctrine of hot pursuit on land, to justify the breaches of territorial sovereignty of foreign states as part of the ongoing pursuit of offenders. 
  
  

About: 

• Muzaffarnagar is arguably the biggest mandi (marketplace) of gur in Asia. Here the farmers produce around 60 varieties of it. 
  
  
• Duration: The three-day festival is scheduled to begin on May 30. 
  
  
• Objective: 
  • It promises to bring together different stakeholders involved in the research, production and marketing of jaggery. 
    
    
  • It will focus on issues such as packaging and marketing of jaggery and sugarcane juice, more efficient prototypes of crushers and ways to increase the production of organic gur. 
    
    
  • The festival aims to address gur versus sugar debate. Gur has medicinal properties and some feel that using gur in tea is healthier than adding sugar. 
    
    
  
  
  
• Parent programme: The event is being organised under the Uttar Pradesh government’s ‘one district, one product’ scheme, in partnership with private players. 
  
  

About: 

• The Reserve Bank of India’s (RBI) Central Board met in Chennai under the Chairmanship of Shri Shaktikanta Das, Governor, RBI. 
  
  
• The Central Board reviewed the present structure of supervision in RBI in the context of the growing diversity, complexities and interconnectedness within the Indian financial sector. 
  
  
• With a view to strengthening the supervision and regulation of commercial banks, urban cooperative banks (UCBs) and Non-Banking Financial Companies (NBFCs), the Board decided to create a specialised supervisory and regulatory cadre within the RBI. 
  
  
• The reason behind a potential overhaul of the RBI supervisory structure are expected due to the non-bank finance crisis, failures of credit rating agencies to flag risks, divergence in asset quality by big banks and alleged lapses on the part of auditors. 
  
  

World Economic Situation And Prospects (WESP) as Of Mid-2019: Key Highlights

• Global growth projections: Across both developed and developing countries, growth projections for 2019 have been downgraded. Following an expansion of 3.0 % in 2018, world gross product growth is now projected to moderate to 2.7 % in 2019 and 2.9 % in 2020.
  
  
• India’s growth projections: India's economy is projected to grow at 7 % in the fiscal year 2019 and 7.1 % in the fiscal year 2020 on the back of strong domestic consumption and investment.
  
  
• Risks:
  • Risks that could trigger a prolonged growth slowdown in the world economy include a further escalation in trade disputes, a sudden deterioration in financial conditions, and the accelerating effects of climate change.
    
    
  • The increase in frequency and intensity of natural disasters highlight the rising threats from climate change, particularly for the most vulnerable economies.
    
    
  
  
  
• Recommendations:
  • Tackling the current growth slowdown require a combination of monetary, fiscal and development-oriented measures.
    
    
  • There is a need of more coordinated multilateral approach to global climate policy, which includes the use of carbon pricing mechanisms.
    
    
  
  
  

About: 

• Given by: The Man Booker International Prize is an international literary award sponsored by the Man Group, the same organisation that gives the Man Booker Prize for fiction. 
  
  
• Criteria: It is annually given for a single work of fiction in any language that has been translated into English and published in the United Kingdom in the last year. 
  
  
• Cash prize: It carries a cash prize of 50,000 pounds or 64,000 US dollar for the winning title, shared equally between author and translator. 
  
  

About: 

• Composition: The High-Level Committee consisted of Dr Anil Kakodkar, eminent Scientist and Sidharth Pradhan, an expert on financial and tax issues.
  
  
• Mandate: It was setup to examine the issues relating to the –
  • preparation of action plan to create synergy among Research and Development Centres of Oil and Gas Public Sector Undertakings,
    
    
  • tax issues and ways to benefit from GST by the Oil and Gas PSUs,
    
    
  • merger, acquisition and consolidation of Oil and Gas Public Sector Undertakings and the Joint Ventures and
    
    
  • Formation of new entity dealing with oil services and supply of qualified manpower to the Oil and Gas sector around the world.
    
    
  
  
  
• Recommendations: It has recommended short term, medium term and long term strategies in the report, clearly bringing out the strategy to reduce the import dependency of the nation.
  
  
• Way ahead: Ministry of Petroleum and Natural Gas will consider the recommendations submitted by the Committee while formulating policies.
  
  

About: 

• Status: A statutory body established under the provisions of The Competition Act, 2002. 
  
  
• Established in: 2003. 
  
  
• Composition: A Chairperson and 6 Members appointed by the Central Government.
  
  
• Mandate: To implement provisions of The Competition Act, 2002 which –
  • prohibits anti-competitive agreements and abuse of dominant position by enterprises
    
    
  • regulates mergers and acquisition (M&A) which can have an adverse effect on competition within India. Thus, deals beyond a certain threshold are required to get clearance from CCI.
    
    
  
  
  

PSLV-C46: 

• In this PSLV-C46 mission, the 'Core-Alone' configuration of PSLV was flown (without the use of solid strap-on motors). 
  
  

RISAT-2B: 

• RISAT-2B with a lift-off mass of 615 kg, is a radar imaging earth observation satellite with an advanced technology of 3.6m radial rib antenna. 
  
  
• The satellite is intended to provide services to Agriculture, Forestry and Disaster Management domains. It will have military applications, as well. 
  
  

Other payload on this mission: 

• Piggyback payload was also carried onboard this mission namely, Vikram processor and low cost MEMS based Inertial Navigation System (INS) developed by Semi-Conductor Laboratory (SCL), Chandigarh and ISRO Inertial Systems Unit, Thiruvananthapuram respectively.