Daily Prelims Notes 23 July 2021

July 23, 2021
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Daily Prelims Notes

23 July 2021

Table Of Contents

1. Production Linked Incentive (PLI) Scheme for Specialty Steel

Subject: Government Schemes

Context: Recently, the Union Cabinet has approved the Production Linked Incentive (PLI) Scheme for specialty steel.

Concept:

Specialty Steel

It is value added steel wherein normal finished steel is worked upon by way of coating, plating, heat treatment, etc to convert it into high value added steel.
It can be used in various strategic applications like Defence, Space, Power, apart from automobile sector, specialized capital goods etc.

About Production Linked Incentive (PLI) Scheme for Specialty Steel

The duration of the scheme will be five years i.e. from 2023-24 to 2027-28.
The five categories of specialty steel which have been chosen in the PLI Scheme are:

Coated/Plated Steel Products

High Strength/Wear resistant Steel

Specialty Rails

Alloy Steel Products and Steel wires

Electrical Steel

There are 3 slabs of PLI incentives, the lowest being 4 % and highest being 12% which has been provided for electrical steel (CRGO).
Any company registered in India, engaged in manufacturing of the identified ‘specialty steel’ grades eligible to participate.

2. ‘HC appointments an ongoing process’

Subject: Polity

Context: Information provided by the Law Ministry to the Rajya Sabha on the process of appointments to the High Courts.

Concept:

The Chief Justice and Judges of the High Courts are to be appointed by the President under clause (1) of Article 217 of the Constitution.

Appointment process to High Courts:

High Court judges are appointed by the President under Article 217 of the Constitution read with Supreme Court’s decision in the Second and Third Judges’ case. The Memorandum of Procedure (MoP) indicates the process of appointment to be followed.
The high court collegium, which comprises the chief justice of the high court and two senior-most judges, recommends a name for a high court judgeship to the Supreme Court collegium. The Supreme Court Collegium, which comprises the CJI and two senior-most judges, takes a final call on the high court collegium’s recommendations.
The Supreme Court Collegium can either approve the recommendation and then transmit the same to the Government of India for giving effect to it, or it can disagree with the high court collegium or defer the proposal.
The Chief Justice of a High Court is appointed by the President with the consultation of the Chief Justice of the Supreme Court and the Governor of the State. The other judges are appointed by the will of the President, Governor and the Chief Justice of the High Court.

Eligibility for appointment to High Courts:

There are two requirements for being eligible for a high court judgeship: the person concerned must be a citizen of India and have, for at least ten years, been an advocate of a high court or two or more such courts in succession. If the person concerned is from the subordinate judiciary, he must have held a judicial office in the territory of India for at least ten years.
Besides, jurists whom the President of India may consider as eminent are also eligible for appointment as High Court judges.

Concerns over high vacancies:

The total sanctioned strength of judges across the 25 High Courts is 1,098 but the working strength was only 645, a shortfall of 453 judges.
This would adversely impact the functioning of the High Courts.

3. Analysis by NGO reveals micro plastics in Ganga

Subject: Environment

Context : The study, ‘Quantitative analysis of Microplastics along River Ganga’, conducted by the Delhi-based environment NGO, Toxics Link.

Concept :

The study notes pollution by microplastics all along the stretches of the river Ganga.
The study attributes this observation to the poor state of solid and liquid waste management in the surrounding areas.
Untreated sewage from many cities along the river’s course, industrial waste and religious offerings wrapped in non-degradable plastics pile pollutants into the river as it flows through several densely populated cities. These plastic products dumped in the river break down and are eventually broken down into microparticles.
The study notes the presence of both single-use and secondary plastic products with at least 40 different kinds of polymers as microplastics in the studied samples.
Microbeads were observed along some stretches of the Ganga.
Microbeads are manufactured small solid particles and do not degrade or dissolve in water. They are added to a range of products, including rinse-off cosmetics, personal care and cleaning products.
Microbeads are a relatively cheap ingredient and are used in these products for a variety of purposes. This includes as an abrasive or exfoliant, a bulking agent, to prolong shelf-life, or for the controlled release of active ingredients.

Microplastics:

Microplastics are defined as synthetic solid particles sized ranging from 1 micrometre to 5 millimetres (mm), which are insoluble in water.
Microplastics come in a large variety of sizes, colours and chemical compositions, and include fibres, fragments, pellets, flakes, sheets or foams.

4. RBI plans digital currency pilots soon

Subject : Economics

Context : RBI Deputy Governor has stated that the Reserve Bank of India may soon conduct pilot projects to assess the viability of using digital currency to make wholesale and retail payments to help calibrate its strategy for introducing a full-scale central bank digital currency (CBDC).

Concept :

Central bank digital currency (CBDC):

A central bank digital currency (CBDC) uses an electronic record or digital token to represent the virtual form of a fiat currency of a particular nation (or region). Hence they are also sometimes referred to as digital fiat currencies or digital base money.
A CBDC is essentially a legal tender issued by the central bank. It has the same functional capabilities as a fiat currency and is considered exchangeable in nature with said fiat currency in a one-to-one form. The only notable difference is the form it takes, i.e., a digital form.
CBDC would coexist with cash and existing digital payment methods.
The present concept of CBDCs was directly inspired by Bitcoin, but a CBDC is different from virtual currency and cryptocurrency, which are not issued by a state and lack the legal tender status declared by the government. A CBDC is centralized; it is issued and regulated by the competent monetary authority of the country.
The growing popularity of cryptocurrencies like Bitcoin and Ethereum poses a possible threat to the traditional banking system. Also, cryptocurrencies are associated with a lot of concerns.

5. UNGA President-elect to meet Modi on July 23

Subject : International Organisations

Context : Maldives Foreign Minister Abdullah Shahid won election for President of next General Assembly in June last.

Concept :

Nord Stream is a system of offshore natural gas pipelines in Europe, running under the Baltic Sea from Russia to Germany.
It includes two active pipelines running from Vyborg to Lubmin near Greifswald forming the original Nord Stream, and two further pipelines under construction running from Ust-Luga to Lubmin termed Nord Stream 2.
In Lubmin the lines connect to the OPAL line to Olbernhau on the Czech border and to the NEL line to Rehden near Bremen.

UNGA

Popularly known as the parliament of the world, where all the 193 UN member states are represented, the UNGA is the deliberative, policymaking and representative organ of the UN.

Roles and functions:

Takes a decision on important matters such as peace and security, discusses various global issues and budgetary matters.
Decides on matters such as the admission of new members.
Decisions are taken through a vote. Admission of new members and budgetary matters require a two-thirds majority, while the decision on other issues are taken by a simple majority.
Each sovereign state gets one vote and the votes are not binding on the membership, except in budgetary matters.
The Assembly has no binding votes or veto powers like the UN Security Council.
The UNGA can express world opinion, promote international cooperation in various fields and make recommendations to the UNSC and elect the Security Council’s non-permanent members.

Which countries are not a part of UNGA?

Among the world’s 196 countries, 193 are UN member states and three nations- Palestine, the Vatican City and Taiwan are not a part of the international organization as their country status is not recognized globally due to political and religious reasons.

According to the Charter of the United Nations, the General Assembly may:

Consider and approve the United Nations budget and establish the financial assessments of Member States;
Elect the non-permanent members of the Security Council and the members of other United Nations councils and organs and, on the recommendation of the Security Council, appoint the Secretary-General;
Consider and make recommendations on the general principles of cooperation for maintaining international peace and security, including disarmament;
Discuss any question relating to international peace and security and, except where a dispute or situation is currently being discussed by the Security Council, make recommendations on it;
Discuss, with the same exception, and make recommendations on any questions within the scope of the Charter or affecting the powers and functions of any organ of the United Nations;
Initiate studies and make recommendations to promote international political cooperation, the development and codification of international law, the realization of human rights and fundamental freedoms, and international collaboration in the economic, social, humanitarian, cultural, educational and health fields;
Make recommendations for the peaceful settlement of any situation that might impair friendly relations among countries;
Consider reports from the Security Council and other United Nations organs.

6. India has much to gain by supporting AfCFTA

Subject : International Organisations

Context :No discussion on Africa today is complete without the hope and expectations emanating from the Africa Continental Free Trade Area (AfCFTA). \

Concept :

AfCFTA

AfCFTA seeks to create a single continental market for goods and services, with free movement of business persons and investments, and thus pave the way for accelerating the establishment of the Continental Customs Union and the African customs union.
The AfCFTA preliminary work is on steps such as incremental tariff reduction, elimination of non-tariff barriers, supply chains and dispute settlement.
It establishes the largest free trade area in the world since the creation of the World Trade Organization in 1995.
In a world, becoming increasingly dependent on African markets and commodities, AfCFTA will have a global impact.

Background of Africa’s economic integration

In 1963, the Organization of African Unity was founded by the independent states of Africa. The organization aimed to promote cooperation between African states.
The 1980 Lagos Plan of Action was adopted by the Organization of African Unity. The plan suggested that Africa should minimize reliance upon the West by promoting intra-African trade.
In 2002, the Organization of African Unity was succeeded by the African Union, which had as one of its goals to accelerate the “economic integration of the continent”.
At the 2012 African Union summit in Addis Ababa, leaders agreed to create a new Continental Free Trade Area by 2017, for which in 2015 negotiations for AfCFTA started.
The AfCFTA agreement was adopted and opened for signature on 21st March 2018 in Kigali. The AfCTA entered into force on 30 May 2019.

7. Swing Pricing for Mutual Funds

Subject : Economics

Context: The markets regulator has floated the concept of swing pricing in debt mutual funds, which would kick in at times of high stress.

Concept :

The Securities and Exchange Board of India (Sebi) on Monday proposed a swing pricing mechanism for mutual funds to prevent the collapse in a scheme’s net asset value (NAV) at times of investor exodus.
The mechanism allows fund houses to adjust a scheme’s NAV in response to inflows and outflows, protecting long-term unitholders from value erosion during heavy redemptions.
Swing pricing is a potential risk-mitigation measure for any product with liquidity risk. This is particularly acute with open-ended debt mutual funds, especially in times of market stress.
Even a 10-15% redemption of assets under management in a short span of time can adversely impact the fund.

8. Essential Defence Service Bill introduced in Lok Sabha

Subject : Legislations

Context : The Essential Defence Services Bill, 2021, introduced by Minister of State for Defence Ajay Bhatt amid din created by the Opposition over three new agri laws and the alleged Pegasus snooping controversy, seeks to replace an ordinance issued in June.

Concept :

Key features of the bill

Prohibition on strikes, lock-outs, and lay-offs: Under the Ordinance, the central government may prohibit strikes, lock-outs, and lay-offs in units engaged in essential defence services.
The government may issue such an order if necessary in the interest of: (i) sovereignty and integrity of India, (ii) security of any state, (iii) public order, (iv) public, (v) decency, or (vi) morality.
The prohibition order will remain in force for six months, and may be extended by six months.
Punishment for illegal lock-outs and lay-offs: Employers violating the prohibition order through illegal lock-outs or lay-offs will be punished with up to one year imprisonment or Rs 10,000 fine, or both.
Punishment for illegal strikes: Persons commencing or participating in illegal strikes will be punished with up to one year imprisonment or Rs 10,000 fine, or both.
All offences punishable under the Ordinance will be cognisable and non-bailable.
Public utility service: The Ordinance amends the Industrial Disputes Act, 1947 to include essential defence services under public utility services.
Under the Act, in case of public utility services, a six-week notice must be given before: (i) persons employed in such services go on strike in breach of contract or (ii) employers carrying on such services do lock-outs.

9. Amending Procedure of Constitution

Subject : Polity

Concept :

Part XX of the Constitution deals with its amendment.
Under Article 368(2), Parliament can amend the Constitution by passing a Bill in each House by a majority of the total membership of that House and by a majority of not less than two-thirds of the members of that House present and voting.
Thereafter, the Bill shall be presented to the President who shall give his assent… and thereupon the Constitution shall stand amended.
Parliament cannot amend those provisions which form the basic structure of the Constitution according to the Supreme Court ruling in the landmark 1973 KesavanandaBharati case.
FRs and DPSPs are the two most important provisions that can be amended by the special majority.
All provisions that do not require ratification by states, and those that come directly under the purview of Article 368, have to be amended by the special majority.
Various Procedures for Amendments

[I] Simple Majority

A large number of provisions contained in the constitution are open to change by a simple majority. These may be divided into two classes:

Where the text of the constitution is not altered but the law is changed

Article 11 confers on the Parliament power to enact a law regarding citizenship.
An Act made in pursuance of that power will change the law relating to citizenship without altering the text of Article 5 to 10.
Article 124 still refers to the Supreme Court as consisting of the Chief justice and 7 judges.
But in exercise of its power the Parliament has increased the strength of the judges from 7 to 25.

Where the text of the constitution is changed

Formation of new state.
Creation or abolition of legislative council
Creation of council of ministers for Union territories
Extending the period of 15 years fixed for the use of English in Article 343
Defining Parliamentary privileges
Salaries and allowances of President, Vice-President, Judges, etc.

[II] Special Majority

Except those provisions which are amendable by an ordinary majority, the rest of the provisions require a special majority for amendment.
The Amendment Bill must be passed by a majority of two-thirds of the members of each House present and voting and such majority must exceed 50% of the total membership of the House.

[III] Special Majority and Ratification by half of the States

Those provisions which relate to the federal structure of the constitution require special majority in Parliament as well as ratification by at least half of the state legislatures.

This procedure is required in the following provisions:

Manner of election of President
Executive power of the Union and the State
The Supreme Court and the High Courts
Distribution of legislative power between the Union and the States
Representation of states in Parliament
Article 368 itself

10. Great Indian Bustards

Subject: Environment

Context: The Central government informed the Rajya Sabha that there were no Great Indian Bustards (GIB) in Kutch Bustard Sanctuary (KBS) in Gujarat’s Kutch district as on January 1 this year.

Concept:

Great Indian Bustards is the heaviest birds with flight,
GIBs prefer grasslands as their habitats
GIBs are the largest among the four bustard species found in India, the other three being MacQueen’s bustard, lesser florican and the Bengal florican.
They spend most of their time on the ground with occasional flights to go from one part of their habitat to the other.
The International Union for Conservation of Nature (IUCN) has categorized GIBs as critically endangered, thus on the brink of extinction from the wild.
They feed on insects, lizards, grass seeds etc. GIBs are considered the flagship bird species of grassland and hence barometers of the health of grassland ecosystems.

Recent Data

The Central government had told the 13th Conference of Parties to the United Nations Convention on Migratory Species of Wild Animals (CMS) held in Gandhinagar, that the GIB population in India had fallen to just
The Central government informed the Rajya Sabha that there were no Great Indian Bustards (GIB) in Kutch Bustard Sanctuary (KBS) in Gujarat’s Kutch district this year.

Spread:

The historical range of these majestic birds included much of Indian sub-continent but it has now shrunk by 90 per cent,

128 birds were in Rajasthan,
10 in Kutch district of Gujarat and
A few in Maharashtra, Karnataka and Andhra Pradesh.
Pakistan is also host a few GIBs.
Besides the KBS, Prajau, Bhanada and Kunathia-Bhachunda are important grasslands

Threats

Scientists of Wildlife Institute of India (WII) have been pointing out overhead power transmission lines as the biggest threat to the GIBs
Due to their poor frontal vision, can’t detect powerlines in time and their weight make in-flight quick manoeuvres difficult.
Change in landscape by way of farmers cultivating their land, and cultivation of cotton and wheat instead of pulses and fodder are also cited as reasons for falling GIB numbers.

Conservation measures

In 2015, the Central government launched the GIB species recovery programme, WII and Rajasthan forest department have jointly set up conservation breeding centres where GIB eggs harvested from the wild are incubated artificially and hatchlings raised in controlled environment.
The Supreme Court in April this year ordered that all overhead power transmission lines in core and potential GIB habitats in Rajasthan and Gujarat should be undergrounded

Kutch Bustard Sanctuary

KBS near Naliya in Kutch district’s Abdasa block is a tiny sanctuary notified in 1992 and spread over just two square kilometres (sqkm).
Its eco-sensitive zone spread over 220 sqkm covers most of present-day core GIB habitat. The creation of safe-haven for the birds led to an increase in the GIB population in KBS—from 30 in 1999 to 45 in 2007.
The sanctuary is bounded on the north by the Jakhau creeks, along the coast of Kutch. where large flocks of flamingos, herons, egrets, sandpipers and other birds can be seen
The sanctuary lies in the ecological zone of the semi desert region. Hence, the climate is arid, rainfall is meagre and erratic, with an average annual precipitation of 384 millimetres.

11. The rising sun flag

Subject: International relations

Context: The rising sun flag has created anger at the Olympics, with some of the host nation’s neighbors calling for it to be banned during the Tokyo Games, which start Friday

Concept:

Origin

There are two rising sun flags associated with Japan, whose very name in Japanese means “the sun’s origin.” One is the country’s national flag, called “nisshoki,” or “hinomaru,” which has a red disc on a white background..
The other one also has a red disc, but it is surrounded by 16 rays that extend outward. Called “kyokujitsuki,” this one has led to vehement protests from some of Japan’s neighbors.
Japan’s imperial navy used it as its official flag as the nation colonized the Korean Peninsula and invaded or occupied China and other Asian countries until its World War II defeat in 1945.
It’s still Japan’s navy flag, used by the Maritime Self-Defense Force and, in a slightly modified version, by the Ground-Self Defense Force since 1954.
Even today, the rising sun with rays flag motif is used in everyday life in Japan, such as to celebrate a big catch by fishermen, childbirth and other festivities, the government says.
Japan’s neighbors view it differently.

Issues

Japan considers the “rising sun” flag part of its history.
The flag is a reminder of Japan’s wartime atrocities, and is comparable to the Nazi swastika.
Seoul said that the flag recalls the “scars and pain” of Asian people , similar to how the swastika “reminds Europeans of the nightmare of World War II.”
North Korea’s state media, not known for understatement, have accused Japan of trying to turn “the flag of war criminals” into a symbol of peace at the Olympics, saying that is “an intolerable insult to our people and other Asian people.”
China is also highly sensitive to perceived slights from the Japanese government, individuals and companies

12. Antibody response

Subject: Science and Technology

Context: Older people appear to have fewer antibodies against the novel coronavirus, a new laboratory study from Oregon Health & Science University (OHSU) suggests.

Concept:

The study has been published in the Journal of the American Medical Association emphasized that

They measured diminished antibody response in older people, the vaccine still appeared to be effective enough to prevent infection and severe illness in most people of all ages.
The youngest group all in their 20s had a nearly seven-fold increase in antibody response compared with the oldest group of people between 70 and 82 years of age.

Antibodies

They are proteins made by the immune system to fight antigens, such as bacteria, viruses, and toxins. The body makes different immunoglobulin to combat different antigens.

The five subclasses of antibodies are:

Immunoglobulin A (IgA), which is found in high concentrations in the mucous membranes, particularly those lining the respiratory passages and gastrointestinal tract, as well as in saliva and tears.
Immunoglobulin G (IgG),are involved in the secondary immune response (IgM is the main antibody involved in primary response). IgG can bind pathogens, like for example viruses, bacteria, and fungi, and thereby protects the body against infection and toxins. Comprising up to 80% of the antibodies found in the human body, IgG is the smallest, yet most abundant human antibody, and that of other mammals. IgG can be found in all bodily fluids, and is the only antibody that can protect a foetus by passing through the mother’s placenta.
Immunoglobulin M (IgM),is the largest antibody, and it is the first antibody to appear in the response to initial exposure to an antigen. B-cells create IgM antibodies as a first line of defense. Their large size gives them excellent binding avidity, and can pick up trace amounts of infection to mark for recognition by phagocytes. IgM is primarily found in serum and due to its size, it cannot diffuse well, and is found in the interstitium only in very low quantities.
Immunoglobulin E (IgE),which is associated mainly with allergic reactions (when the immune system overreacts to environmental antigens such as pollen or pet dander). It is found in the lungs, skin, and mucous membranes.
Immunoglobulin D (IgD),which exists in small amounts in the blood, is the least understood antibody.

13. Azithromycin

Subject: Science and Technology

Context: A year into the pandemic, however, its use as a treatment option against Covid-19 has gone down, given the lack of evidence that it works, a new study has shown that it does not have a role in the treatment of Covid-19 that it only has a placebo effect.

Concept:

Azithromycin and Covid-19

Azithromycin is a broad-spectrum antibiotic that is widely available. It is prescribed for various bacterial infection. Itis not used as an antibiotic, but as an immunomodulatory.
Due to cardiac side effects the use of this drug has been stopped and is not part of any guidelines this year
It reduce exacerbations in chronic airway diseases
Azithromycin was in use last year as an antibiotic for atypical pneumonia and possible in vitro antiviral activity.

The new findings

Treatment with a single dose of oral azithromycin compared with placebo did not result in a greater likelihood of being free of symptoms at day 14.
There is no conclusive evidence that these drugs are of any benefit.
Overuse of antibiotics during Covid-19 pandemic may lead to increased selection for antimicrobial resistance. Widespread use of azithromycin for Covid 19 in the absence of a clear bacterial indication may contribute to resistance selection
Due to cardiac side effects the use of this drug has been stopped and is not part of any guidelines this year

14. IPO

Subject: Economy

Context: In the upcoming listing, up to 10% of the IPO issue size will be reserved for LIC policyholders, who can also look forward to a discount. The LIC (Amendment) Rules, 2021 say that any reservation made by the Corporation in favour of its policyholders on a competitive basis in a public issue .

Concept:

Initial Public Offering

IPO is the selling of securities to the public in the primary market.
Primary market deals with new securities being issued for the first time. It is also known as the new issues market.
It is different from secondary market where existing securities are bought and sold. It is also known as the stock market or stock exchange.
It is when an unlisted company makes either a fresh issue of securities or an offer for sale of its existing securities or both for the first time to the public.
Unlisted companies are companies that are not listed on the stock exchange.
It is generally used by new and medium-sized firms that are looking for funds to grow and expand their business.

15. Nord Stream

Subject: Geography

Context: The US, which had previously imposed sanctions to prevent the completion of a major new gas pipeline between Russia and Germany, has now signalled its approval for the project.

Concept:

Nord Stream is a system of offshore natural gas pipelines in Europe, running under the Baltic Sea from Russia to Germany.
It includes two active pipelines running from Vyborg to Lubmin near Greifswald forming the original Nord Stream, and two further pipelines under construction running from Ust-Luga to Lubmin termed Nord Stream 2.
In Lubmin the lines connect to the OPAL line to Olbernhau on the Czech border and to the NEL line to Rehden near Bremen.

16. Islanding scheme

Subject: Science and Technology

Context: In order to avoid outages in the electricity grid like the Mumbai 2020 blackout, islanding scheme is proposed to be implemented at seven new locations across India

Concept:

The Ministry of power has identified locations for islanding scheme

Eastern region: Patna and Ranchi
Northern region: Agra (Uttar Pradesh), one in Rajasthan for loads of Jodhpur and Barmer, Rajpura (Punjab) and another one will have loads of Pathankot, Sarna, Mamoon, Gurdaspur and Dhariwal.
Southern region: Vijaywada is set to have an islanding scheme.

What is grid islanding scheme?

The process of disconnecting the Plant from the Utility (during parallel operation) in case of Grid disturbances is called Grid Islanding Scheme.
Grid Islanding scheme means as the name indicates it isolates grid from our island (Power plant) in case of any grid side disturbance or fault.
Grid Islanding scheme is a set of protective relays, connected at the grid incomer- these relays will sense a disturbance in the grid and give a trip command to the incomer breaker whenever the grid disturbance exceeds a set limit.
By opening the incomer breaker, the plant is isolated from the disturbed grid and we can keep our generator safe.
. The selected protective device for grid islanding scheme shall having protection function like directional over current & earth fault Protection, Reverse power protection, voltage vector shift protection, rate of change of frequency protection, under / over voltage protection, under / over frequency protection, negative phase sequence protection, residual over voltage protection.
It is required to have dedicated protection scheme for industrial plant which have parallel connectivity of grid with in house generator, to keep our generator safe from grid side disturbances.

The causes of disturbances in grid network may be,

Load and Generation imbalance
Load Fluctuation in grid
Loss of grid power / mains power
Large switching operation
Symmetrical or Asymmetrical fault in infinite grid
Voltage dip for a long duration of 1s or more or Rise in voltage above the normal value along with zero real power import from grid to the plant.

The main objective to connect grid in parallel with in-house generator are as under

To Black start of island (Plant),
To Exporting / Evacuating extra generated power from generator to grid,
To Meet the extra load requirement of plant,
To cater fluctuating load of plant,

17. Series A, B and C funding

Subject: Economy

Context: Agnishwar Jayaprakash, founder and CEO of Garuda Aerospace, was in for a very pleasant surprise on Tuesday morning when he realised that Elon Musk had liked his tweet on Garuda’s new Surya drone that could potentially clean solar panels at Singapore’s new floating solar farms

Concept:

The large majority of successful startups have engaged in many efforts to raise capital through rounds of external funding. These funding rounds provide outside investors the opportunity to invest cash in a growing company in exchange for equity, or partial ownership of that company.

Series A, B and C funding rounds are merely stepping stones in the process of turning an ingenious idea into a revolutionary global company, ripe for an IPO.

Series A Funding

Once a business has developed a track record (an established user base, consistent revenue figures, or some other key performance indicator), that company may opt for Series A funding in order to further optimize its user base and product offerings.
In this round, it’s important to have a plan for developing a business model that will generate long-term profit.
Series A rounds raise approximately $2 million to $15 million
Investors are looking for companies with great ideas as well as a strong strategy for turning that idea into a successful, money-making business. The investors involved in the Series A round come from more traditional venture capital firms.
It’s also common for investors to take part in a somewhat more political process. It’s common for a few venture capital firms to lead the pack. In fact, a single investor may serve as an “anchor.” Once a company has secured a first investor, it may find that it’s easier to attract additional investors as well.
Angel investors also invest at this stage, but they tend to have much less influence in this funding round than they did in the seed funding stage.

Series B Funding

Series B rounds are all about taking businesses to the next level, past the development stage.
Investors help start-ups get there by expanding market reach. Companies that have gone through seed and Series A funding rounds have already developed substantial user bases and have proven to investors that they are prepared for success on a larger scale.
It is used in bulking up on business development, sales, advertising, tech, support, and employees costs a firm a few pennies.
The average estimated capital raised in a Series B round is $33 million
Series B appears similar to Series A in terms of the processes and key players.
The difference with Series B is the addition of a new wave of other venture capital firms that specialize in later-stage investing.

Series C Funding

Businesses that make it to Series C funding sessions are already quite successful.
These companies look for additional funding in order to help them develop new products, expand into new markets, or even to acquire other companies.
In Series C rounds, investors inject capital into the meat of successful businesses, in an effort to receive more than double that amount back. Series C funding is focused on scaling the company, growing as quickly and as successfully as possible.
Series C funding could be used to buy another company.
In Series C, groups such as hedge funds, investment banks, private equity firms, and large secondary market groups accompany the type of investors mentioned above.
Companies that do continue with Series D funding tend to either do so because they are in search of a final push before an IPO or, alternatively, because they have not yet been able to achieve the goals they set out to accomplish during Series C funding.

18. District judge

Subject: Polity

Context: The bench comprising Justices DY Chandrachud and Hrishikesh Roy noted that the Trial judges work amidst appalling conditions, The colonial mindset which pervades the treatment meted out to the district judiciary must change, the Supreme Court observed in a judgment .

Concept:

The courts comprised in the district judiciary are the first point of interface with citizens.

Qualification

He should have been an advocate or pleader for 7 years.
He should be recommended by high court.
He shouldn’t already be in service of center or state

Appointment

The appointment, posting, promotion is made by Governor after consultation with High court. Other appointments of judicial service are made by Governor after consulting high court and state public service commission. Appointments of judicial service below district judge are made by high court.
District judge (Civil cases) / Sessions judge (Criminal cases) has highest judicial position in district. He has original and appellate jurisdiction over civil and criminal cases.

Civil Courts

The Court of the District Judge is the highest Civil Court in a district to deal with Civil Cases is called the Court of District and Sessions Judge when it deals with both Civil and Criminal Cases at the district level.
The judge of this Court is appointed by the governor of the State. Below the Court of District Judge, there may be one or more Courts of Sub Judge, have been established in districts to exclusively hear Cases Family disputes, like divorce, Custody of Children, etc.
Below them there and Courts of Munsiffs and Small Causes Courts which decide cases involving petty amounts No appeal can be made against the decisions of the Small Causes Courts. All these Courts hear and Settle Civil disputes.

Functions and powers

The Court of the District Judge (Called the District Courts) hears not only appeals against the decisions of the Courts of Sub Judges, but also some of the Cases begin directly in the Court of District Judge itself, Appealing against the decisions of this Court may be heard by the High Court of the State.
Civil Courts deal with Cases pertaining to disputes between two or more persons regarding property, divorce, Contract and Contract and breach of agreement or landlord-tenant disputes.

Criminal Courts

The Court of the Sessions Judge (Known as Sessions Courts) is the highest Court for Criminal Cases in a district. Below this Court, there are Courts of magistrates of First, Second and Third class.
In metropolitan cities like Delhi, Calcutta, Mumbai and Chennai, First Class Magistrates are Called Metropolitan Magistrates.

Functions and powers

All these criminal courts are competent to try the accused and to award punishment, as sanctioned by law, to those who are found guilty of Violation of law.
Criminal courts hear criminal Cases which are related to violation of laws. These Cases involve theft, dacoity, rape, arson, pick-pocketing, physical assault, murder etc.
It may be fine, imprisonment or even death sentence. Normally every accused is presented by the police before a magistrate. The magistrate Can family dispose off Cases of minor Crime.
Thus, Sessions Courts try the accused but the capital punishment can be implemented only after his Sentence is confirmed by the High Court.