Daily Current Affairs UPSC 29 August 2024

Finternet

• Nandan Nilekani recently discussed the concept of "Finternet" as the future of financial systems at the Global Fintech Fest 2024.
• Finternet is a vision for the future financial system where multiple financial ecosystems are interconnected, similar to the internet.
• The concept of Finternet was introduced in a paper by Agustin Carstens and Nandan Nilekani, leveraging innovative technologies like tokenization and unified ledgers.
• Finternet is centered around the 3 U's: User, Unified, and Universal, incorporating all asset classes into a strong regulatory framework.

FM Radio in 234 new cities and towns

• Cabinet has approved the expansion of Private FM Radio to 234 new cities and towns under Phase III Policy.
• The focus in the private FM Policy has shifted from Medium Wave to Frequency Modulated wave.
• This expansion will help boost local dialects and cultures, as well as create employment opportunities.
• Many of the approved cities and towns are in Aspirational districts and LWE areas, which will strengthen Government outreach in these regions.
• The Cabinet has also approved charging an Annual License Fee (ALF) of FM channels as 4% of Gross Revenue excluding Goods and Services Tax (GST).

CFA to Hydro Electric Projects (HEP) in NER

• The Cabinet approved the Ministry of Power's proposal for Central Financial Assistance for Equity Participation by State Governments in the North Eastern Region for Hydroelectric Power projects.
• The funding will be provided from the Power Ministry's outlay, with 10% Gross Budgetary Support allocated for the NER.
• The objective of the scheme is to support the development of hydro capacity of around 15000 MW.
• The scheme includes the formation of a Joint Venture Company between a Central PSU and the State Government for all projects.
• The assistance is only available for viable Hydroelectric Power projects.
• The initiative aims to encourage investment and entrepreneurship in the NER and also contribute to India's Nationally Determined Contributions.

Northern Bald Ibis

• Once considered extinct in Europe, Northern Bald Ibis have made a comeback on the continent.
• The Northern Bald Ibis, also known as Geronticus eremita, historically inhabited the European Alps, Northern Africa, and the Middle East.
• They prefer semi-arid desert and steppe regions, feeding on rocky areas or cliffs near streams or rivers.
• These birds are monogamous and find their mate using their croop call, only having one partner for life.
• Northern Bald Ibis are colonial birds that migrate seasonally in groups, following the guidance of wild-born elders as they do not instinctively know which direction to fly.
• The IUCN lists the Northern Bald Ibis as endangered.

Mimetus spinatus and Mimetus parvulus

• The Zoological Survey of India (ZSI) has found two new spider species, Mimetus spinatus and Mimetus parvulus, in Mookambika Wildlife Sanctuary, Karnataka, and Ernakulam, Kerala.
• Both Mimetus spinatus and Mimetus parvulus are part of the Mimetidae spider family, also known as pirate or cannibal spiders because of their unique predatory behavior.
• There are a total of three Mimetus species in India, including these two newly discovered ones.
• Mimetus spinatus can be identified by its medium-sized, pale yellow head and dull grey-white abdomen with light green mottling.
• Mimetus parvulus is distinguished by its pale creamy-rose head with dense grey-black mottling and a triangular-shaped, dull grey-white abdomen.

Quasar

• The brightest quasar ever observed, named J0529-4351, was discovered by astronomers using the European Southern Observatory's Very Large Telescope (VLT).
• Quasars, short for "Quasi-stellar Radio Source," are the active galactic nuclei powered by supermassive black holes in distant galaxies.
• Despite being among the most luminous objects in the Universe, quasars cannot be seen with the naked eye due to their great distance from Earth.
• Quasars emit a range of electromagnetic radiation including radio waves, visible light, UV rays, infrared waves, X-rays, and gamma-rays.

Piezoelectric Polymer

• Scientists at CeNS have created a security alert system using Piezoelectric Polymer nanocomposite.
• CeNS is a research institute under the Department of Science and Technology.
• Piezoelectric polymers are materials that can produce electric charges when pressure or strain is applied, converting mechanical energy into electrical energy.
• These polymers are popular for their flexibility, light weight, and ease of shaping into large or curved surfaces.
• They are commonly used in sensors, wearables, medical devices, consumer electronics, and other applications.

Chandipura virus

• The WHO has issued a warning about the current Chandipura virus outbreak in India, the largest in two decades.
• Chandipura virus (CHPV) belongs to the same family as rabies and is known to cause acute encephalitis syndrome (AES) outbreaks in various parts of India during the monsoon season.
• The virus is transmitted by sandflies, mosquitoes, and ticks.
• Currently, there is no antiretroviral treatment or vaccine available for Chandipura virus.
• Chandipura virus was first identified in Chandipura, Maharashtra in 1965.

Republic of Chile (Capital: Santiago)

During his most recent trip to Chile, the External Affairs Minister talked about mutual concerns and topics between the two countries.

Political Features 

• Location: Chile is a long and narrow country in South America, with a maximum width of 110 miles (~178 Km).
• Neighbouring Countries: Chile shares borders with Peru and Bolivia to the North, and Argentina to the East. It is bordered by the Pacific Ocean on the West.

Geographical Features

• Landforms: Chile is arranged as three parallel north-south units, with the Andes Mountains to the east, an intermediate depression or longitudinal valley in the center, and coastal ranges to the west.
• Desert: The Atacama Desert in Chile is the driest non-polar desert in the world.
• Longest River: The Loa River in Chile rises from the Andes.
• Major Volcanoes: Chile is home to major volcanoes such as Calbuco, Chaiten, and Villarrica.
• Major Minerals: Chile is rich in minerals such as copper and lithium, and is part of the Lithium triangle along with Argentina and Bolivia.
• Highest Peak: Ojos De Salado is the highest peak in Chile.

"Justice Hema Committee Report: Women's Safety in Malayalam Cinema"

• The report commissioned by the Kerala Government identified issues such as the presence of power groups, couch casting, and the lack of essential facilities like toilets, changing rooms, and safe transportation in the workplace.
• These issues highlighted by the committee reignited the MeToo Movement and shed light on the prevalence of sexual harassment of women in the workplace.

Reasons for Sexual Harassment at Workplace

• Men dominating by making sexual demands in order to advance in their careers
• Online harassment includes being trolled and receiving threats with explicit content
• Legal non-compliance with the requirement of having an Internal Complaint Committee (ICC) under the POSH Act, 2013, in establishments with 10 or more employees, with a majority of women members.

Major Recommendations

• Women in cinema are often portrayed as holding powerful positions such as Civil Servants, Ambassadors, and leaders.
• The Gender Awareness Training Program aims to challenge the dominance of power held by men and promote equality between men and women.
• Redefining masculinity to be associated with justice, equality, and compassion rather than violence and aggression, and redefining femininity to be separate from passivity and silent suffering.
• The creation of a Welfare Fund to support women who take breaks from their jobs due to childbearing, health issues, or other responsibilities.

Other Measures to Address Sexual Harassment at Workplace

• The Indecent Representation of Women Act was passed in 1987.
• In the Vishakha and Others Vs State of Rajasthan case in 1997, the Supreme Court ruled that employers have a duty to prevent sexual harassment.
• Chapter V of the Bharatiya Nyaya Sanhita in 2023 addresses sexual offenses against women and children.
• The government has implemented initiatives such as SHe-Box and Working Women Hostels to support women.

"PIF Endorses Australia's PPI"

• The Pacific Patrol Boat Program (PPI) aims to enhance the law enforcement capabilities of Pacific nations to address internal security threats effectively.
• PPI is in line with the Pacific Islands Forum's 2050 Strategy for the Blue Pacific Continent, emphasizing the importance of regional security and cooperation.
• Analysts view PPI as a strategic move to counter China's growing influence in the Pacific region.

About Pacific Islands Forum (PIF)

• PIF is a prominent political and economic policy organization in the Pacific region, working towards a vision of peace, harmony, and prosperity.
• Established in 1971, PIF has 18 member countries across the Pacific Ocean, promoting regional cooperation and development.

Challenges Faced by Pacific Countries

• Pacific Island nations are severely impacted by climate change, including sea level rise, ocean warming, and acidification.
• Geopolitical power struggles between China and the US for influence in the region pose challenges to stability and security.
• International drug trafficking is a significant issue, with Pacific Islands serving as transit points for narcotics smuggling from Asia and the Americas.

India's Engagement with the Pacific Region

• The Pacific Islands hold strategic importance for India's energy security and maritime interests, aligning with its Indo-Pacific strategy.
• India has launched initiatives like the Indo-Pacific Oceans Initiative and the Forum for India-Pacific Islands Cooperation to strengthen ties with Pacific nations and promote regional cooperation.

"Ministry of Road Transport and Highways (MoRTH) Introduces Vehicle Scrapping Policy"

• The policy focuses on encouraging the voluntary disposal of commercial and passenger vehicles that are deemed unfit based on their condition, regardless of how old they are.
• Unfit vehicles that are polluting will be gradually phased out through Registered Vehicle Scrapping Facilities (RVSFs) and Automated Testing Stations (ATSs).
• Multiple manufacturers of commercial and passenger vehicles will provide discounts for a period of two years and one year, respectively, to owners who scrap their vehicles and obtain a Scrappage Certificate.

Significance of Vehicle Scrappage

• Reduce pollution: Scrapping old vehicles can lead to a significant reduction in vehicular emissions, with one old car emitting gases equivalent to 11 new cars and one old truck emitting gases equivalent to 14 new trucks.
• Improve fuel efficiency: Scrapping old vehicles can lead to improved fuel efficiency, resulting in reduced maintenance costs.
• Ensure Formalization: Implementing a vehicle scrappage policy can help formalize the existing informal vehicle scrappage ecosystem.
• Availability of low-cost raw materials: Scrapping vehicles can provide low-cost raw materials for the automotive, steel, and electronics industries, leading to potential cost savings.
• Others: Vehicle scrappage can also boost sales in the automotive industry, generate employment opportunities, and have other positive economic impacts.

Challenges with the Vehicle Scrappage in India

• Inadequate numbers of registered scrapping facilities: Currently, there are only around 60 Registered Vehicle Scrapping Facilities (RVSFs) and 75 Automated Testing Stations (ATSs) operational in the country, spread across a limited number of states and union territories.
• Dismantling and disposal of hazardous wastes: The process of dismantling and disposing of hazardous wastes from scrapped vehicles often involves the informal sector, which may lack modern equipment and pose environmental and health hazards.

Commercial Vehicles (CVs)

• Vehicle registration is dependent on the fitness certificate being valid.
• Commercial vehicles are required to undergo a fitness test every two years for the first eight years, and then annually after that.

Private Vehicles (PVS)

• The initial registration is good for 15 years.
• A current fitness certificate is required to renew registration after 15 years, which will then be valid for S years.

Fitness would be mandated through Automated Testing Stations for vehicles

• Starting on April 1, 2023, fitness testing for Heavy Commercial Vehicles will be required to be done through Automated Testing Stations only.
• Fitness testing for all other classes of Commercial Vehicles and Personal Vehicles will be mandated to be done through Automated Testing Stations in phases starting on June 1, 2024.
• If a vehicle does not pass an automated fitness test, it will need to be repaired and retested before being declared an ELV, with a possible re-inspection if required by the Appellate Authority.

"Union Cabinet Approves Agriculture Infrastructure Fund Expansion"

The Union Cabinet has recently approved a gradual increase in the Central Sector Scheme for financing through the Agriculture Infrastructure Fund (AIF) in order to enhance its appeal, effectiveness, and inclusivity.

Key highlights of the recent expansion of AIF

• Viable Farming Assets: All eligible beneficiaries can now create infrastructure for community farming assets.
• Integrated Processing projects: Integrated primary and secondary processing projects are now eligible under AIF.
• PM KUSUM Component-A: Convergence of PM-KUSUM Component-A with AIF for various farmer groups.
• Credit Guarantee: NABSanrakshan to extend credit guarantee coverage of FPOs along with CGTMSE.

About Agriculture Infrastructure Fund (AIF)

• A medium to long-term debt financing facility for post-harvest management infrastructure and community farming assets.
• Banks and financial institutions will provide ₹1 Lakh Crore in loans with interest subvention and credit guarantee support.

Issues with Agriculture Infrastructure in India

• Upstream issues: Inadequate irrigation infrastructure, poor farm mechanization, limited soil testing facilities, and cold-storage infrastructure.
• Downstream issues: Limited food processing facilities, inefficient supply chain management, poor market intelligence leading to 'cobweb phenomenon'.

Tragic Loss: Namibian Cheetah Dies at Kuno National Park

This cheetah was the only one living freely in Kuno to survive. With its passing, KNP now has a total of 24 cheetahs, consisting of 12 adults and an equal number of cubs.

Background

• Project Cheetah (2022) was started to reintroduce the extinct large carnivore species, the Cheetah.
• The Cheetahs were brought in from South Africa and Namibia.
• Conservation actions will focus on protecting the prey base, including endangered species, and safeguarding other at-risk species in grasslands and open forest environments.

Challenges faced by Cheetahs in Kuno National Park

• Biorhythm challenges: Some cheetahs in India developed thick winter coats during the Indian summer and monsoon to anticipate the African winter due to differences in circadian rhythms between the Northern and Southern Hemispheres.
• To avoid biorhythm complications, India is considering sourcing new cheetahs from countries closer to the equator or in the Northern Hemisphere such as Somalia, Tanzania, and Sudan.
• Low prey density: The overall prey density in Kuno is approximately 22 individuals per km, which falls short of the 35 to 40 individuals per km required.
• Gandhi Sagar and Nauradehi Wildlife Sanctuaries in Madhya Pradesh are currently being evaluated as potential locations for managing the cheetah population in KNP.

"Union Cabinet Approves 12 New Industrial Nodes/Cities"

The Cabinet Committee on Economic Affairs recently approved 12 new project proposals under the NICDP in 10 states along 6 major corridors.

Key Highlights of Approved Projects

• Smart Cities and Modern Infrastructure: The projects will develop new industrial cities as Greenfield Smart Cities with global standards, focusing on concepts like 'plug-n-play' and 'walk-to-work'.
• Area Approach on PM GatiShakti: The projects will prioritize multi-modal connectivity infrastructure to ensure seamless movement of people, goods, and services in alignment with the PM GatiShakti National Master Plan.

About NICDP

• NICDP aims to develop futuristic industrial cities as "Smart Cities" in India to compete with top manufacturing and investment destinations globally.
• The implementing agency for NICDP is the National Industrial Corridor Development and Implementation Trust (NICDIT).
• Currently, there are 11 Industrial Corridors approved for implementation by the Union Government.