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Secrets deep in the Sun

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Secrets deep in the Sun

In an article published in the journal Science on April 5, 2013, recent simulations have ushered in a major understanding of aspects of the sun’s magnetic field. The interesting facts of the finding of the simulation are these: at the base of the sun’s turbulent convection layer, torus like bands of magnetic field of opposite polarities form at mid-latitude on either hemisphere.

Intriguingly, the torus-like bands of magnetic field undergo polarity reversals once every forty years. The highlight of the study is that the researchers were able to show that a regular cycle is produced and this type of internal magnetic field believed to be conducive to the formation of sunspots. The reversal of polarity of the torus-like bands every forty years is nearly four times as long as the observed solar cycle. It is further pointed out that other numerical simulations produced instead large-scale zonal structures within the turbulent convection layer and peaking at low latitudes. The simulations also reveal factors that could be of significance in affecting the observed cycles.

What are icebergs ?

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What are icebergs?

Icebergs are detached masses of glacier which subside into the sea and float as wind or current may take them. About one-ninth of an iceberg is above sea level. The North Atlantic is the chief home of icebergs, which reach the ocean from the ice-clad plateaux of Greenland. Some of these floating masses of ice are of enormous proportions and constitute in the spring and early summer seasons a great menace to the safety of ships, as was disastrously shown in the Titanic catastrophe of 1912.

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Interest Rates On Small Savings, PPF Reduced

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The Central Government has announced that starting April 1, 2013, Public Provident Fund (PPF) accounts and small savings schemes will fetch reduced returns owing to a cut in interest rates by 10 basis points each. According to a Finance Ministry statement, the interest rate on PPF will stand reduced from 8.8 percent to 8.7 percent. Likewise, the five-year maturity Monthly Income Scheme (MIS) will earn an interest of 8.4 percent during the 2013-14 financial year.

The only exception has been made in the case of savings deposits schemes and fixed deposits of up to one year run by post offices with their interest rates kept unchanged at 4 percent and 8.2 percent, respectively All other savings schemes falling under the National Small Savings Fund (NSSF) will see a reduction in interest rates by 10 basis points which would be applicable for the entire 2013-14 financial year. For instance, the National Savings Certificates (NSC) having five and 1,0-year maturity periods will now earn interest rates of 8.5 percent and 8.8 percent, respectively, as against 8.6 percent and 8.9 percent hitherto. The interest rate for Senior Citizens Savings Scheme (SCSS) also stands reduced to 9.2 percent from 9.3 percent.

India’s foreign exchange status

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As per the Reserve Bank of India’s Weekly Statistical Supplement released on March 29, 2013, India’s foreign exchange reserves rose by $1.1 billion to $293.4 billion for the week ended March 22, 2013. For the week ended March 15, the reserves had risen by $1.97 billion to $292.3 billion. The reserves had declined by S220 million to $290.35 billion during the week that ended on March 8. Earlier, for the week ended March 1, die reserves had dropped by $1.35 billion to $290.57 billion.

Rupee v/s Dollar

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In the last one year (from April 2012 to March 2013), the rupee has seen frequent ups and downs. The value of the rupee was at 54.28 to a US dollar on April 2, 2012. Then it fell to Rs. 56.63/dollar by June 25, 2012. From then on until August 2012, :he value of the rupee kept swinging between 55 and 56 per dollar. Thereafter, riding on the Centre’s decision (September 14, 2012) to allow FDI in multi-brand retail, the rupee gained in value to touch 52.80/dollar by end-September 2012. It closed tradings in end-October 2012 at 53.80 to a dollar. It then plunged again to touch a two-month low of 55.16/dollar by November 16, 2012, before seeing some gains in value at 54.30 to a dollar on November 30, 2012. The rupee ended the last day of 2012 at 54.84 vis-a-vis the dollar. It closed at 53.25/dollar in end-January 2013, while at end-February 2013, the value of the rupee was at 54.40/dollar. On Match 31, 2013, the value of the rupee was perched at 54.28/dollar.