Daily Current Affairs for UPSC IAS: 8th February 2023

Guidelines On Green Bonds : SEBI

The Securities and Exchange Board of India released operational guidelines for green bonds. The guidelines include dos and don’ts related to green debt securities.

Guidelines:

• No misleading labels shall be used
• Tradeoffs shall not be hidden. Tradeoff means giving up one to gain another.
• Pick random data to highlight research practices
• From now on SEBI will check if the green debt security issuing company is making the transition towards a greener path.
• The regulator will watch over the investment made by the company or the measures taken by the company to promote a green environment.
• Also, the regulator will check if the measures adopted by the company are bringing environmental impacts.
• It will keep a constant eye on the contributions made by the company is making India a sustainable economy.
• The issuer cannot use the funds raised from green bonds for other purposes. Other purposes mean investments or actions that are not related to the environment.

India’s First Hydrogen Internal Combustion Engine (H2-ICE) Powered Truck:

Ashok Leyland unveil India’s first hydrogen-powered heavy-duty truck at India Energy Week

• The ICE in H2-ICE stands for Internal Combustion Engine.
• It was developed by Reliance in partnership with Ashok Leyland.
• The H2-ICE truck is the first of its kind in India to be powered by hydrogen.
• The cost of the production of the truck was high.
• However, the truck emits zero carbon
• It does not produce carbon emissions.
• It produces nitrogen oxides.
• Some countries ignore nitrogen oxides as pollutants if they are released in meagre amounts.
• The H2-ICE produces nitrogen oxides only if atmospheric hydrogen is used.
• India includes nitrogen oxides in its pollutant list.
• There are no sulphur oxides, carbon monoxide, particulate matter, or Hydro carbons emissions in H2-ICE.

Jupiter : Planet With Most Moons

Latest discovery revealed Jupiter has 12 more moons. With this, the count of Jupiter’s moons increased to 92. Today Jupiter has the maximum number of moons.

• The 12 new moons around Jupiter were discovered by the Smithsonian Astrophysical Observatory
• Of the 12 moons discovered, nine are distant
• These nine moons take 550 days to orbit Jupiter
• Also, the nine moons discovered are relatively small
• These nine moons have retrograde orbits.
• Meaning their orbiting direction is opposite to that of Jupiter’s rotation
• The inner moons of Jupiter have prograde orbits, they rotate in the same direction as that of Jupiter.

Mukhyamantri Tirth Darshan Yojana : Madhya Pradesh Govt

The Scheme was launched by the Madhya Pradesh Government.

• Under the scheme, the senior citizens will be taken on a spiritual tour free of cost.
• They will be taken to pilgrimage sites that are located outside the state. One or two pilgrimage sites will be visited by them.
• The scheme is funded by the Government of Madhya Pradesh.
• The scheme is applicable only to senior citizens, that is, persons of age 60 years
• For women, two years of age concession is provided
• The scheme is to be implemented with the help of IRCTC
• During the travel, the tourists will be provided with food, accommodation, bus travel cost, drinking water, etc.

Hybrid Warfare : Strategy Used In Millitary

Hybrid Warfare is a strategy used in the military.

• It includes the techniques of conventional warfare, cyber warfare, and irregular warfare.
• Countries are using political influences to disrupt the governance of their enemy state, causing cyber troubles to the enemy state, and using other indirect measures to counter their enemies.
• Conventional Warfare: Here conventional weapons and normal war field tactics are used. The forces primarily target the opponent and the fight is direct, face-to-face.
• Irregular Warfare: Here the war is fought for legitimacy. It has a goal. It can be fought even within a state. Mostly, this warfare includes non-military actors
• Cyber Warfare: Here the country makes cyber-attacks on enemy states. It can be on its military system or it can be on the civilian cyber hubs of the enemy country.

Southern India’s First Industrial Corridor Project:

The Prime Minister of India laid the foundation stone of southern India’s 1st Industrial Corridor Project to be implemented at Tumakuru, spread over 8500 Acre of land, under the Chennai-Bengaluru Industrial Corridor.

• The Tumakuru Industrial Township has been planned in line with the principles of PM-GatiShakti to ensure last mile multimodal connectivity to the economic zone.
• The Govt of India and the Govt of Karnataka are developing the Industrial Township at Vasanthanarasapura in 3 phases in Tumakuru district through the project Special Purpose Vehicle (SPV).
• Under the National Industrial Corridor Development (NICD) Programme, 32 greenfield industrial smart cities under 11 industrial corridors are being developed with world class Plug-n-Play infrastructure.

Save Wetlands Campaign:

Union Minister for Environment, Forest and Climate Change launched the ‘Save Wetlands Campaign’.

• This campaign is structured on a “whole of society” approach for wetlands conservation, enabling affirmative actions for wetlands conservation at all levels of society and involving all strata of society.
• Aim of the Campaign: Over the next one year, the campaign will include sensitizing people to the value of wetlands, increasing the coverage of wetland Mitras and building citizen partnerships for wetlands conservation.
• Wetlands are those areas where the soil is covered with water or can be present near the ground throughout the year.
• World Wetlands Day is observed on 2nd February every year worldwide to commemorate the signing of the Ramsar Convention on Wetlands of International Importance in 1971.
• India has been a party to the Convention since 1982 and has so far declared 75 wetlands as Ramsar sites covering 23 states and Union Territories

National Commission For Scheduled Tribes : Functioning With Less Than 50% Of Its Sanctioned Strength

The recent data presented by the Ministry of Tribal Affairs (MoTA) revealed that the National Commission for Scheduled Tribes (NCST) is currently functioning with less than 50% of its sanctioned strength.

• NCST was set up in 2004 by amending Article 338 and by inserting a new article 338A in the Constitution through the 89th Constitution Amendment Act, 2003.
• Hence, it is a constitutional body.
• By this amendment, the erstwhile National Commission for Scheduled Castes and Scheduled Tribes was replaced by two separate Commissions namely:
  • the National Commission for Scheduled Castes (NCSC), and
  • the NCST
• Article 338A inter-alia gives powers to the NCST to oversee the implementation of various safeguards provided to Scheduled Tribes (STs) under the Constitution or under any other law for time being in force or under any other order to the Government and to evaluate the working of such safeguards.
• Composition: It consists of a Chairperson, a Vice-Chairperson and 3 other Members who are appointed by the President by warrant under his hand and seal.
• At least one member should be a woman.
• The Chairperson, the Vice-Chairperson and the other Members hold office for a term of 3 years.
• The Chairperson has been given the rank of Union Cabinet Minister, the Vice Chairperson has the rank of a Minister of State and other Members have the rank of Secretary to the Government of India.
• The members are not eligible for appointments for more than two terms.

Pradhan Mantri Mudra Yojana: Survey Report

As per the sample survey conducted at the national level by Ministry of Labour and Employment (MoLE) to assess employment generation under Pradhan Mantri Mudra Yojana (PMMY), the scheme helped in generating 1.12 crore net additional employment during a period of approximately 3 years (i.e., from 2015 to 2018).

Highlights of the Survey:

• Out of 81 lakh loans given in the state of Rajasthan, over 52 lakh were given to women entrepreneurs in the last three financial years, which is 64% of all loans.
• In 2016-17, the scheme was expanded to cover activities related to agriculture, such as fishing, dairy, and food processing.
• In 2017-18, loans for tractors and power tillers became eligible under PMMY, with a maximum limit of Rs. 10 lakhs.
• From 2018-19 onwards, loans for two-wheelers for commercial use were included in PMMY.

Pradhan Mantri Mudra Yojana:

• PMMY was launched by the Government of India in 2015.
• The PMMY provides collateral-free institutional loans up to Rs. 10 lakhs for small business enterprises.
• It is provided by Member Lending Institutions (MLIs) i.e. Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs).

Types:

• The loan can be used for income-generating activities in the manufacturing, trading, services sector, and agriculture.
• There are three loan products under PMMY:
  • Shishu (loans up to Rs. 50,000)
  • Kishore (loans between Rs. 50,000 and Rs. 5 lakh)
  • Tarun (loans between Rs. 5 lakh and Rs. 10 lakh).

Earthquakes In Turkey And Causes:

Strongest earthquake to shake the region in more than 100 years and has killed at least 1,300 people across Turkey and Syria.

• Three earthquake measuring  7.8, 7.6, and 6.0 magnitude on the Richter scale has devastated Turkey and Syria, while the impacting regions as far away as Cyprus (456 km away), Lebanon (874 km), Israel (1,381 km) and Egypt (1,411 km).
• The tremors of the first quake were felt on February 6 around 4 a.m., with the epicentre located near the city of Gaziantep in south-central Turkey, which houses more than two million people
• This is the strongest earthquake to shake the region in more than 100 years and has killed at least 3,800 people across Turkey and Syria as of Tuesday morning, according to officials
• The quake’s focus was 18 km deep, according to the U.S. Geological Survey.
• The epicentre was about 33 km from Gaziantep.
• Turkey is frequently shaken by earthquakes. In 2020 itself, it recorded almost 33,000 earthquakes in the region, according to Disaster and Emergency Management Authority (AFAD).

Reason:

• Turkey’s proneness to earthquakes comes from its tectonic location.
• The Earth’s outermost layer comprises of some 15 major slabs, called tectonic plates.
• The boundaries between these plates are a system of faults fractures between two blocks of rocks.
• Any sudden movement along these faults can cause earthquakes, according to the British Archaeological Survey.
• Turkey is located on the Anatolian tectonic plate, which is wedged between the Eurasian and African plates.
• On the north side, the minor Arabian plate further restricts movement.
• One fault line the North Anatolian fault (NAF) line, the meeting point of the Eurasian and Anatolian tectonic plates is known to be “particularly devastating”.
• The NAF, one of the best-understood fault systems in the world, stretches from the south of Istanbul to northeastern
• Turkey, and has caused catastrophic earthquakes in the past.
• Then there is the East Anatolian fault line, the tectonic boundary between the Anatolian Plate and the northward-moving Arabian Plate.
• It runs 650 kilometers from eastern Turkey and into the Mediterranean.
• In addition to this, the Aegean Sea Plate, located in the eastern Mediterranean Sea under southern Greece and western Turkey, is also a source of seismic activity in the region.

White Label ATM:

The Reserve Bank of India has extended the validity of authorization issued to Vakrangee to set up, own and operate White Label ATMs in India.

White Label ATM:

• Automated Teller Machines (ATMs) set up, owned and operated by non-banks are called White Label ATMs.
• Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).
• Such non-bank entities should have a minimum net worth of Rs 100 crore as per the latest financial year’s audited balance sheet, which is to be maintained at all times.
• Foreign Direct Investment (FDI), up to 100 per cent, is allowed under the automatic route in the activity of White Label ATM (WLA) Operations.

Museum Grant Scheme: Financial Assistance For Digitization

The union Minister of Culture informed Lok sabha about Museum Grant Scheme (MGS). Ministry of Culture provides financial assistance for digitization of museum collections under Digitization of Museum component of Museum Grant Scheme

• This scheme was launched in 2013.
• The Ministry of Culture provides financial assistance under the Scheme to the State Governments and Societies, Autonomous bodies, Local Bodies and Trusts registered under the Societies Act 1860, for setting up new Museums.
• Aim: To strengthen and modernize the existing museums at the Regional, State and District levels.
• The scheme also aims to develop at least 1 Central / State Government Museum located in the State Capital each year.
• Components:
  • Establishment and Development of District and Regional Museums:
  • Under this component museums have been classified into two categories:
  • Category-I: Government-owned State-level Museums and renowned Museums with an exquisite collection.
  • Category II: all other Museums.

Landing Of INS Vikrant:

The Naval variant of the indigenous Light Combat Aircraft undertakes its maiden landing onboard the country’s first Indigenous Aircraft Carrier INS Vikrant.

INS Vikrant:

• It is the first ever indigenously designed and constructed aircraft carrier which will strengthen the country’s stand as a ‘Blue Water Navy’.
• The ship has been designed in-house by Indian Navy’s Warship Design Bureau and constructed by M/s Cochin Shipyard Limited.
• India also joined the elite group of nations – the US, Russia, France, the UK and China – who are capable of designing and constructing aircraft carriers.
• Also, with a displacement of 43,000 tonnes when fully loaded, INS Vikrant is set to be the seventh largest among the carriers or carrier classes in the world.

Yuva Sangam Registration Portal:

The Yuva Sangam registration portal was recently launched at Indira Gandhi National Centre for the Arts, New Delhi.

• Yuva Sangam portal is an initiative of the Prime Minister of India.
• The main aim of this portal is to build close ties between the youth of the North East Region and the rest of India under the spirit of Ek Bharat Shreshtha Bharat.
• Over 20000 youth will travel across India and gain a unique opportunity for cross-cultural learning.
• This Cultural Exchange Program will also allow youth to celebrate the ancient culture and natural diversity of India.
• The youth of 18 years to 30 years will get an opportunity to see different states of the country, to understand their art, culture and languages.

Perform Achieve & Trade (PAT) Scheme: Impressive Progress In Recent Years

The Director of Bureau of Energy Efficiency (BEE) recently said that the Government of India has made impressive progress in recent years in accelerating energy efficiency in industrial sectors through its flagship program Perform, Achieve & Trade (PAT) Scheme.

• PAT Scheme is a flagship program under the National Mission for Enhanced Energy Efficiency (NMEEE).
• It is implemented by the Bureau of Energy Efficiency (BEE) under the aegis of the Ministry of Power.
• PAT scheme aims at reducing Specific Energy Consumption (SEC),e., energy use per unit of production for Designated Consumers (DCs) in energy-intensive sectors, with an associated market mechanism to enhance the cost-effectiveness through certification of excess energy saving, which can be traded.
• Energy Saving Certificates (ESCerts):
  • The excess energy savings are converted into tradable instruments called Energy Saving Certificates (ESCerts) that are traded at the Power Exchanges.
• Trading Platform: The two Power Exchanges, India Energy Exchange (IEX) and Power Exchange India Limited (PXIL) provide the trading platform for ESCerts.
• Central Electricity Regulatory Commission (CERC) is the market regulator for the trading of ESCerts.
• PAT Scheme is implemented in cycles of 3 years each, where the Designated Consumers (DCs) are assigned SEC reduction targets.
• Designated Consumers (DCs) who fall short of their targets bid for the purchase of ESCerts.

What Is Res-Judicata:

The Madras High Court recently dismissed a civil revision petition filed by a woman against an order of a lower court that had allowed a second divorce petition filed by her husband on the ground of res-judicata.

• The concept of res judicata has evolved from the English Common Law System.
• Res judicata literally means ‘the thing has been judged”.
• The principle of res judicata applies when a litigant attempts to file a subsequent lawsuit on the same matter after having received a judgment in a previous case involving the same parties.
• It is a judicial concept which means that the issue before the court has already been decided by another court, between the same parties, and the courts do not allow a petition to be filed in the same or to the other Court.
• Therefore, the court will dismiss the case before it as being useless.
• Res Judicata as a concept is applicable both in the case of the Civil as well as Criminal legal system.
• Purpose:
  • To prevent injustice to the parties of a case supposedly finished.
  • To avoid unnecessary waste of resources and time of the Judicial System