Daily Current Affairs for UPSC IAS: 21st December 2024

Eastern Maritime Corridor (EMC):

The recent launch of the Chennai-Vladivostok Eastern Maritime route has cut shipping time and costs, thereby boosting trade between India and Russia in oil, food, and machinery.

• The Chennai-Vladivostok Sea Route, also known as the EMC, connects South India with Russia’s Far East region.
• The corridor significantly reduces cargo transit time by up to 16 days and cuts distance by up to 40%, making it a highly efficient trade route.
• The traditional Mumbai-to-St. Petersburg route spans 8,675 nautical miles (16,066 km) and takes over 40 days for cargo transportation.
• In contrast, the Chennai-Vladivostok route is only 5,647 nautical miles (10,458 km) and takes 24 days, saving approximately 5,608 km in distance.
• The EMC passes through key waterways, including the Sea of Japan, East China Sea, South China Sea, Malacca Straits, Andaman Sea, and the Bay of Bengal.
• Ports along the route include Dalian, Shanghai, Hong Kong, Ho Chi Minh City, Singapore, Kuala Lumpur, Bangkok, Dhaka, Colombo, and Chennai.

Lokayukta Investigation in Karnataka:

Lokayukta is State-level anti-corruption body tasked with investigating complaints of corruption and maladministration against public officials.

• It is inspired by the Ombudsman system in Scandinavian countries.
• It was recommended by the first Administrative Reforms Commission, 1966 chaired by Morarji Desai.
• The first Lokayukta was established in Maharashtra in 1971.
• Lokpal and Lokayukta Act, 2013:
  • Mandates the establishment of Lokpal at the Union level and Lokayukta in states.
  • Requires that at least 50% of members belong to SCs, STs, OBCs, minorities, or women.
  • Lokayukta is a statutory body without constitutional status.

Calyptocephallela gayi:

A giant frog species Calyptocephallela gayi is now losing ground in its native Chile as climate change and human intervention damage its habitat.

• It is one of the largest frogs in the world, growing up to over 30 cm (1 foot) in length and weighing up to 1 kg (2.2 lbs).
• It is also known as Helmeted Water Toad which hopped alongside dinosaurs and is considered a “living fossil”.
• It is a robust species with a broad head and large mouth. It is very large, and can reach a snout–to–vent length of up to 15.5 cm (6 in) in males and 32 cm (13 in) in females.
• They inhabit aquatic environments, such as lakes, rivers and ponds.
• They are found in the lowlands of Chile, up to 500 m in elevation.
• Conservation Status
  • IUCN: Vulnerable
• Threats: Factors such as climate change, habitat interruption, environmental decline and pollution have all caused the Helmeted Water Toad’s numbers to dwindle.

Specialised Investment Fund:

SEBI has introduced a new asset class called Specialised Investment Fund (SIF). It is designed for informed investors willing to take on riskier investments.

• Specialised Investment Fund (SIF) bridges the gap between mutual funds (MFs) and portfolio management services (PMS).
• It requires a minimum investment of Rs 10 lakh, with lower thresholds for accredited investors. SIFs will offer open-ended, close-ended, and interval investment strategies.
• It is a group of investments that share similar characteristics and are governed by the same regulations.
• Example: Equities (stocks), fixed income (bonds), cash and cash equivalents, real estate, commodities, and currencies.

Dark Comet:

NASA scientists are closely studying a new class of celestial objects known as “dark comets”.

• They are celestial bodies which lack the glowing tails (a typical feature of comets) and resemble asteroids.
• They are often small, just a few meters to a few hundred meters wide.
• They have less surface area for material to escape and form into the beautiful tails we see on typical comets.
• But they are not asteroids due to their sudden accelerations.
• They often spin quite rapidly and disperse escaping gas and dust in all directions, making them less visible.
• They follow elongated, elliptical paths that bring them close to the Sun before sweeping back out to the farthest reaches of the Solar System.
• The first indication of dark comets came in 2016, when asteroid 2003 RM exhibited unusual orbital deviations.
• Since then, astronomers have confirmed the existence of dark comets, with a new study published which revealed 14 such objects.
• These comets fall into two main categories: “outer dark comets,” which have eccentric orbits and are larger, and “inner dark comets,” which are smaller and closer to the Sun, with nearly circular orbits.

20th Foundation Day of the National Commission for Minority Educational Institutions:

It was established by the National Commission for Minority Educational Institutions (NCMEI) Act 2004.

• It is a quasi judicial body and has been endowed with the powers of a Civil Court for the purpose of discharging its functions under the Act.
• It aims to safeguard the educational rights of the minorities enshrined in Article 30(1) of the Constitution.\
• The Commission has three main roles namely adjudicatory, advisory and recommendatory.
• It decides all questions relating to the status of any institution as a Minority Educational Institution (MEI).
• It serves as an appellate authority in respect of disputes pertaining to Minority Status/No Objection Certificate (NOC).
• Educational institutions aggrieved by the order of refusal to grant Minority Status Certificate/No Objection Certificate by the competent authority of State/UT, can appeal to the Commission against such orders.
• The Commission has the power to cancel the minority status of an educational institution granted by an Authority or Commission, on grounds laid down in the Act.
• It also has powers to call for information while enquiring into the complaints of violation or deprivation of the educational rights of the minorities.

Standing Committee on Railways : Report

The Standing Committee on Railways presented its latest report in Parliament, highlighting inefficiency in Railways.

Standing Committee Report on Railways:

• Freight Train Speed:
• Average speed over the past 11 years: 25.14 km/h.
• Dedicated Freight Corridors (DFC):
  • Eastern DFC: Completed.
  • Western DFC: 102 km section to be completed by December 2025.
• Revenue :
  • 2023–24 revenue from freight: ₹1,68,293 crore.
  • 2024–25 target: ₹1,80,000 crore.
• Research and Development (R&D):
  • Budget allocation for 2024–25: ₹72.01 crore.
  • Actual spending: ₹39.12 crore (2022–23) and ₹28.34 crore (2023–24).

Varmam Therapy:

The National Institute of Siddha (NIS) has set a Guinness World Record for providing Varmam therapy to 567 individuals simultaneously.

• It is a unique and traditional healing modality within the Siddha system of medicine, has long been revered for its effectiveness in treating various health conditions.
• It is a drugless, non-invasive, simple therapy used in pain management.
• Varmam is considered the vital life energy points, located in human body. It has been identified as 108 points by the Siddhars.
• The therapy is particularly renowned for its ability to provide rapid relief for musculoskeletal pain, injuries, and neurological disorders.
• It is a scientifically grounded therapeutic practice used to treat acute and chronic diseases, including stroke, arthritis, and trauma-related injuries.
• It serves as a testament to the growing global recognition of Siddha medicine and its healing potential.

Loan Write-Offs by Banks:

A large-scale loan write-off by banks over the past few years has contributed to a significant reduction in non-performing assets (NPAs).As a result, banks have achieved a 12-year low NPA ratio of 2.8% of advances by March 2024.Between FY2015 and FY2024, Indian commercial banks wrote off loans amounting to Rs 12.3 lakh crore, with Rs 9.9 lakh crore in the last 5 years alone (FY 2020-2024).The peak in loan write-offs occurred in FY2019 at Rs 2.4 lakh crore, following an asset quality review initiated in 2015.

Oilfields Amendment Bill 2024:

The Oilfields (Regulation and Development) Amendment Bill, 2024 was passed by the Rajya Sabha, aiming to encourage domestic production of petroleum and mineral oils while attracting private investment.This bill seeks to amend the existing Oilfields Act of 1948 by clearly delineating the governance of oil production from mining activities.The Bill broadens the definition of mineral oils to include naturally occurring hydrocarbons (such as petroleum and natural gas), as well as coal bed methane and shale gas/oil.

RBI Enhances Collateral-Free Loan for Farmers:

The Reserve Bank of India (RBI) has increased the collateral-free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh to support small and marginal farmers amidst rising input costs.Over 86% of farmers, primarily small and marginal landholders, are expected to benefit.Includes loans for allied agricultural activities, enabling income diversification.

Global Decline in Diarrhoeal Disease Deaths:

A recent study published in The Lancet Infectious Diseases highlights a decline in global deaths caused by diarrheal diseases.There has been a nearly 60% drop in global deaths due to diarrhoeal diseases, with 1.2 million deaths reported in 2021, down from 2.9 million in 1990.Children under five and the elderly (above 70 years) remain highly vulnerable, especially in sub-Saharan Africa and South Asia, where mortality rates are highest.

Marine Heat Wave Killed 4 Million Murre Seabirds:

A marine heatwave (MHW) nicknamed “the Blob” killed 4 Million of Alaska’s Common Murre Seabirds between 2014 and 2016.This was the largest documented die-off of a single species of wild bird or mammal.They are black-and-white seabirds (often described as “flying penguins”) that somewhat resemble penguins in appearance, and are among the most plentiful seabirds in Alaska.They are the deepest diving bird in the northern hemisphere diving up to 600 feet deep. IUCN Status: Least Concern.

State Fiscal Prudence:

The Reserve Bank of India (RBI) released its report on state finances, highlighting the fiscal performance of Indian states.Gross Fiscal Deficit (GFD): States contained GFD within 3% of GDP in 2022-23 and 2023-24; budgeted at 3.2% for 2024-25.
Revenue Deficit: Limited to 0.2% of GDP in 2023-24.
Capital Expenditure: Increased from 2.4% of GDP in 2021-22 to 3.1% budgeted for 2024-25.
Outstanding Liabilities: Declined from 31% of GDP (March 2021) to 28.5% (March 2024), yet above the pre-pandemic level of 25.3%.

S.A.F.E Accommodation Report:

NITI Aayog released its report on Site Adjacent Factory Employee (S.A.F.E.) Accommodation, emphasizing the importance of secure and affordable housing for industrial workers to boost India’s manufacturing sector.Report highlights the need for secure, affordable, and flexible housing near industrial sites to support India’s manufacturing growth.

India’s First Fully Solar-Powered Border Village:

Masali village in Gujarat’s Banaskantha district has become India’s first fully solar-powered border village under the PM Suryaghar Yojana.Masali Village Located in Banaskantha district, Gujarat, 40 km from the Pakistan border.Solar rooftops installed on 119 houses under the PM Suryaghar Yojana, generating over 225 kilowatts of electricity.

Yuga Yugeen Bharat National Museum:

The Indian Ministry of Culture, in collaboration with France Museums Développement, is set to establish the Yuga Yugeen Bharat National Museum as part of the Central Vista Redevelopment Project.Yuga Yugeen Bharat National Museum announced by the Prime Minister at the International Museum Expo in May 2023. A national museum to celebrate India’s unbroken civilizational history, emphasizing inclusivity and community narratives.Aim is to serve as a global cultural landmark combining India’s heritage with contemporary narratives, bridging past, present, and future.

GLP-1 receptor agonists:

The WHO has endorsed GLP-1 receptor agonists, a new class of drugs for managing obesity, marking a shift in global health strategies to combat the growing obesity epidemic.The WHO has endorsed GLP-1 receptor agonists, a new class of drugs for managing obesity, marking a shift in global health strategies to combat the growing obesity epidemic. A class of medicines that mimic the Glucagon-Like Peptide-1 (GLP-1) hormone, which regulates appetite and blood sugar levels.

IRIS2 Space Programme:

The EU has launched an ambitious IRIS2 space programme with a constellation of 290 satellites to rival Elon Musk’s Starlink.Nations involved: European Union member states through the European Space Agency (ESA).
Launched in: Announced and initiated in 2024.Aim is to provide secure, resilient, and uninterrupted connectivity for governmental and commercial purposes,to strengthen European autonomy and competitiveness in space technology.