India Current Affairs 2017

Scientist a synthetic molecule to quell allergy

Scientists have discovered that a new synthetic molecule named “DARP E2-79” could pave the way for quick-acting remedies for a number of acute allergic reactions.

What is Allergy?

Allergy is a hypersensitivity disorder of immune system. These reactions occur when a person’s immune system  reacts to normally harmless substances in the environment. The substance which incites such a reaction is called an allergen. These reactions are acquired, predictable, and rapid. When exposed to the allergen, the immune system produces a type of antibody (IgE). IgE incites certain cells in our body (mast cells and basophils) to produce chemical called histamine. Histamine is what is responsible for the symptoms of your allergy.

How can “DARP E2-79” help?

In order to trigger an allergic response, antiboby IgE needs to bind with a specific receptor called FcR. FcR is a protein found on the surface of certain cells including mast cells, immune cells present in the nasal lining and in the eyelids, along with IgE. Here works DARP E2-79, which detaches IgE from its partner FcR, thereby turning the process off.

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Frauds caused Rs 6,600 cr loss to Indian Economy

As per the first edition of Ernst & Young’s Fraud Indicators in India, different types of frauds may have caused Rs 6,600 crore loss to Indian economy in the last fiscal and banks were the most common victim in scamming cases.

As per the report:

  • 61 % of the frauds are insider enabled.
  • Magnitude of frauds in the second half of FY2012 increased by 36 % over the first half, while the number of frauds rose by a mere 8% during the same period.
  • Around 63 % of the total fraud cases in FY12 were reported in the financial services sector
  • Banks were the most common victim of frauds followed by insurance and mutual fund companies.
  • Losses incurred by banks due to fraud increased by 88%  in 2010-11 to exceed Rs 3,790 crore (more than Rs 2,010 crore in 2009-10).
  • 79% of the major fraud cases (majority cases above Rs 100 million) were due to involvement of senior management of the company owing to their authority and direct interference in the company’s decisions.
  • Delhi witnessed the largest number of fraud cases and highest aggregate losses by fraud in 2011-12.
  • Delhi recorded the highest average losses (Rs 0.8 billion) followed by Rs 5 billion for Andhra Pradesh.
  • Around 86 % of the total loss is cause by top 10 frauds amounting to a loss of Rs 5,670 crore
  • The survey noted that a proactive Forensic Data analysis can assist governments, regulatory bodies and corporate to battle the increasingly complex nature of frauds.

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