CURRENT AFFAIRS

Detailed explanation-1: -Kavach ( lit. ‘Armour’) is an automatic train protection (ATP) system indigenously developed by Indian Railways through Research Designs & Standards Organisation (RDSO). Initial development of Kavach started in 2012 under the name Train Collision Avoidance System (TCAS).

Detailed explanation-2: -In a monopoly competition, there is only one seller and huge number of buyers due to which there remains no competition for the seller and no substitutes for the buyers. Indian railways in an example of monopoly as there is so close substitute for Indian railways which provide transportation at such nominal rates.

Detailed explanation-3: -IRCTC is a state-owned entity and the only player in the Indian markets that operate in the Industry. This makes it a monopoly as consumers have no other alternative. The company was founded in the year 1845. It is one of the largest railways in the world and is one of the world’s largest employers.

Detailed explanation-4: -Abstract. Indian Railways is the world’s largest government-owned monopoly, annually carrying passenger numbers that surpass the global population. It is world’s fourth largest rail network after the U.S.A., China, and Russia, and is managed by a separate Ministry of Railways.