Daily Prelims Notes 13 June 2021

June 13, 2021
Posted by: OptimizeIAS Team
Category: DPN

Daily Prelims Notes

13 June 2021

Table Of Contents

1. Govt considering plea for Rs 4 lakh to COVID victims, SC told

Subject: Legislations

Context: The Centre on Friday informed the Supreme Court that it was considering a plea to provide monetary compensation of Rs 4 lakh to the family members of those who have died due to COVID-19.

Concept:

Bansal cited Section 12 (iii) of the Disaster Management Act (DMA) providing for ex gratia monetary compensation for the families of those who died during a notified disaster.

Section 12 in the Disaster Management Act, 2005

The National Authority shall recommend guidelines for the minimum standards of relief to be provided to persons affected by disaster, which shall include,—

(i) the minimum requirements to be provided in the relief camps in relation to shelter, food, drinking water, medical cover and sanitation;

(ii) the special provisions to be made for widows and orphans;

(iii) ex gratia assistance on account of loss of life as also assistance on account of damage to houses and for restoration of means of livelihood;

(iv) such other relief as may be necessary.

2. Foreign Reserves crosses 600 billion dollars first time

Subject: Economy

Context: India’s foreign exchange reserves have crossed the $600 billion mark for the first time. The reserves kitty rose by $6.842 billion to $605.008 billion in the week of June 4, latest data from the Reserve Bank of India showed on Friday.

Concept:

The increase in foreign kitty in the reporting week was mainly on the back of a rise in the value of foreign currency assets (FCA) held by the central bank even as the value of gold reserves held by RBI fell.

Foreign exchange reserves

Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities.
It needs to be noted that most foreign exchange reserves are held in U.S. dollars.
These assets serve many purposes but are most significantly held to ensure that the central bank has backup funds if the national currency rapidly devalues or becomes altogether insolvent.

India’s Forex Reserves include:

Foreign Currency Assets
Gold
Special Drawing Rights
Reserve position with the International Monetary Fund (IMF)

Foreign Currency Assets

FCA are assets that are valued based on a currency other than the country’s own currency.
FCA is the largest component of the forex reserve. It is expressed in dollar terms.
FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Currency appreciation refers to the increase in value of one currency relative to another in the forex markets.
Currency depreciation is a fall in the value of a currency in a floating exchange rate system.
In a floating exchange rate system, market forces (based on demand and supply of a currency) determine the value of a currency.

Special Drawing Rights

The SDR is an international reserve asset, created by the International Monetary Fund (IMF) in 1969 to supplement its member countries’ official reserves.
The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies.
The value of the SDR is calculated from a weighted basket of major currencies, including the U.S. dollar, the euro, Japanese yen, Chinese yuan, and British pound.
The interest rate on SDRs or SDRi is the interest paid to members on their SDR holdings.

Reserve Position in the International Monetary Fund

A reserve tranche position implies a portion of the required quota of currency each member country must provide to the International Monetary Fund (IMF) that can be utilized for its own purposes.
The reserve tranche is basically an emergency account that IMF members can access at any time without agreeing to conditions or paying a service fee.

3. US regulators urge financial firms to quickly ditch Libor rate benchmarks

Subject : Economics

Context : US financial regulators urged market participants on Friday to accelerate their efforts to detach financial products from Libor interest rate benchmarks, while casting doubt on new benchmarks built to compete with their preferred replacement.

Concept :

LIBOR

LIBOR is a benchmark interest rate at which major global lend to one another in the international interbank market for short-term loans.
LIBOR, which stands for London Interbank Offered Rate, serves as a globally accepted key benchmark interest rate that indicates borrowing costs between banks.
The rate is calculated and published each day by the Intercontinental Exchange (ICE).
LIBOR is the average interest rate at which major global banks borrow from one another.
It is based on five currencies including the US dollar, the euro, the British pound, the Japanese yen, and the Swiss franc, and serves seven different maturities—overnight/spot next, one week, and one, two, three, six, and 12 months.
The combination of five currencies and seven maturities leads to a total of 35 different LIBOR rates calculated and reported each business day.
The most commonly quoted rate is the three-month U.S. dollar rate, usually referred to as the current LIBOR rate.

Why the transition from Libor?

The rate isn’t sustainable because of a lack of transactions providing data. Libor became a byword for corruption after traders were caught manipulating the benchmark, leading to about $9 billion in fines and the conviction of several bankers.
The London Interbank Offered Rate (Libor) transition opens up a sizeable business opportunity for large consulting firms such as PwC, KPMG, EY and Deloitte and also for global IT firms, including leading players in India.
Regulators globally have asked firms to move away from Libor to other alternate, risk-free rates (RFRs)

4. Coronavirus stays on surfaces of hospitals, floors of patient rooms: Study

Subject : Science & tech

Context : The researchers also noted that even though the virus’ unique genetic signature was detected on a surface, it didn’t necessarily mean that they were able to infect the healthcare workers tending to the patients.

Concept :

A gene signature or gene expression signature is a single or combined group of genes in a cell with a uniquely characteristic pattern of gene expression that occurs as a result of an altered or unaltered biological process or pathogenic medical condition.
This is not to be confused with the concept of gene expression profiling. Activating pathways in a regular physiological process or a physiological response to a stimulus results in a cascade of signal transduction and interactions that elicit altered levels of gene expression, which is classified as the gene signature of that physiological process or response.
The clinical applications of gene signatures breakdown into prognostic, diagnostic and predictive signatures.
The phenotypes that may theoretically be defined by a gene expression signature range from those that predict the survival or prognosis of an individual with a disease, those that are used to differentiate between different subtypes of a disease, to those that predict activation of a particular pathway.
Ideally, gene signatures can be used to select a group of patients for whom a particular treatment will be effective.

5. Coast Guard inducts three ALH Mk-III helicopters

Subject: Defence

Context: The Coast Guard on Saturday inducted the first batch of three Advanced Light Helicopters (ALH) Mk-III designed and manufactured by Hindustan Aeronautics Ltd. (HAL).

Concept:

About ALH MK-III Helicopter

The Advanced Light Helicopter (ALH-DHRUV), designed and built in-house, is a twin-engine, multi-role, multi-mission new generation helicopter in the 5.5 tonne weight range.
It’s a multi-role chopper powered by Hindustan Aeronautics Limited’s Shakti engine (HAL).
HAL (Hindustan Aeronautics Limited) is an Indian state-owned aerospace and defence corporation headquartered in Bangalore.
The Ministry of Defence is in charge of its administration.
The ALH Mk III will be used for search and rescue, special operations, and coastal surveillance and will have an all-glass cockpit.
The Advanced Light Helicopter programme was conceived by HAL in 1984. Dhruv Mk-I, Mk-II, Mk-III, and Mk-IV are the four main variants of Dhruv.

Features of ALH MK-III Helicopter

The plane, which is a step up from the Mk 1, would be able to reduce low visibility during nighttime search and rescue operations.
It has a 0.7 mm gun, giving it a significant capability in LIMO (low intensity maritime operations).
The new automatic flight control system outperforms the previous one by a long shot.

6. ‘Operation Olivia’ to the rescue of Olive Ridleys

Subject : Environment

Context : Every year, the Indian Coast Guard’s “Operation Olivia”, initiated in the early 1980s, helps protect Olive Ridley turtles as they congregate along the Odisha coast for breeding and nesting from November to December.

Concept :

Operation Oliva has been launched by the Indian Coast Guard in the state of Odisha.
It is an annual mission that aims to protect the Olive Ridley sea turtles during their breeding seasons and to conserve their natural breeding habitats.
The Mission has been launched this year jointly with the Odisha state forest department. Two dedicated ships of the coast guard and some aircraft have been engaged in this novel nature conservation activity.
The two ships will ensure that fishing vessels do not enter the major breeding sites of the turtles like Gahirmatha marine sanctuary, Dhamara River, and Rushikulya beach.
The Coast guard keeps a vigil on the illegal fishing and turtle catching in this area as a part of the mission.
The ICG also makes interactions with the fishermen and people of the local community to raise awareness on conserving the Olive Ridleys.

Olive Ridley Turtles

Olive Ridley turtles are one of the species of sea turtles and have been listed as vulnerable by the International Union for Conservation of Nature (IUCN).
It is included in Schedule I of the Indian Wildlife Protection Act, 1972, and in the Appendix I of the Convention of International Trade in Endangered Species of Wild Fauna and Flora.
The species is one of the most abundant of all sea turtles found in the world.
It is primarily found in warm and tropical waters, primarily in the Pacific and Indian Oceans, but also in the warm waters of the Atlantic Ocean.
They are famous for their unique mass nesting called arribadas wherein females lay eggs in the moonlight.

7. Onus of dialogue on J&K lies with Centre: Gupkar alliance

Subject : Current Events

Context : CPI(M) leader and Gupkar alliance spokesman M.Y. Tarigami on Saturday said the onus of engagement and dialogue lay with the Centre and there had to be a credible agenda for it.

Concept :

People’s Alliance for Gupkar Declaration (PAGD) was formerly known as Gupkar Declaration.
It is a political alliance between the multiple mainstream regional political parties of Jammu and Kashmir aimed at safeguarding and restoring special status along with Article 35A of the erstwhile state of Jammu and Kashmir.
First Declaration: The Declaration signed on 4 August 2019 stated that modification or abrogation of Article 35A or Article 370 would be aggression against the people of J&K.
The venue was the Gupkar Residence in Srinagar and thus it became known as the Gupkar Declaration.
Gupkar Declaration II: Gupkar Declaration II, signed on 22 August 2020 by the six political parties asserted that the signatories were bound by August 4, 2019 Gupkar declaration and parties would strive for restoration of Article 370 and Article 35a.

8. Bharitalasuchus tapani, a carnivorous reptile that lived 240 million years ago

Subject : Science & tech

Context : In the mid 20th century, researchers from the Indian Statistical Institute, Kolkata, carried out extensive studies on rocks of the Yerrapalli Formation , uncovering several fossils. By studying some of these specimens stored at the Institute, an international team has now thrown light on a carnivorous reptile that lived 240 million years ago.

Concept :

The Yerrapalli Formation of the Pranhita-Godavari Basin in Telangana has had several fossils unearthed from it.
One of the species identified includes a carnivorous reptile that lived 240 million years ago. It has been named Bharitalasuchus tapani.
Studies have revealed that the reptile belonged to a family of extinct reptiles named Erythrosuchidae.
The Bharitalasuchus tapani were robust animals with big heads and large teeth, and these probably predated other smaller reptiles. They were approximately the size of an adult male lion and might have been the largest predators in their ecosystems.
Apart from this erythrosuchid reptile, the fossil assemblage of the Yerrapalli Formation includes many other extinct creatures such as ceratodontid lungfish, rhynchosaur and allokotosaurian.

9. Bitcoin Push as a legal tender

Subject : Economics

Context : El Salvador became the world’s first sovereign nation to adopt bitcoin cryptocurrency as legal tender

Concept :

As per the new law of El Salvador, Bitcoin, as a legal tender, can be used in any transaction and businesses will have to accept that payment form.
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
Under the new law, El Salvador will promote necessary training and mechanisms so that the population can access bitcoin transactions. However, those who do not have access to technologies that can carry out bitcoin are excluded from being required to accept it as payment.
The bitcoin-dollar exchange rate will be set by the market.

Cryptocurrency:

A cryptocurrency is a digital asset designed to work as a medium of exchange.
Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems.
Cryptocurrencies are built on the back of blockchain technology, a system of distributed, cryptographically-secured account keeping.
Bitcoin is the first decentralized cryptocurrency.

Status of cryptocurrencies:

Most countries have warned their citizens against investing in cryptocurrencies and transacting in them.
Some countries have tried to use the blockchain technology to create government-sanctioned digital currencies. China, a hub of cryptocurrency activity, has issued a digital Yuan based on blockchain technology. The Bank of England has also proposed a digital Sterling.
The RBI had virtually banned cryptocurrency trading in 2018. The Supreme Court had asked the Centre in 2019 to frame policies for crypto, and in 2020, struck down the curbs imposed by the RBI. India has allowed the treatment of cryptocurrencies as commodities.
Bitcoin is the first and biggest of decentralized cryptocurrencies, which are increasingly becoming mainstream. Etherium, Tether, and Binance Coin are some of the many others that have emerged after Bitcoin.
As per available reports by the end of 2021, at least 4-5 more nations will adopt bitcoin as their sovereign acceptable currency.

10. Bru Tribes Issue

Subject : Social Issue

Context : The National Green Tribunal (NGT) has sought replies from the Forest Department and a district administration in Tripura on a complaint that Bru refugees from adjoining Mizoram were being resettled in a forest.

Concept :

The Brus, also referred to as the Reangs, are spread across the north-eastern states of Tripura, Assam, Manipur, and Mizoram.
In Tripura, they are recognised as a Particularly Vulnerable Tribal Group.
They speak the Reang dialect of Kokborok language which is locally referred to as Kau Bru.
Their Hojagiri folk dance is well known all over the world.
‘Buisu’, not ‘bihu’ is the most popular festival of Reang tribes.

11. TOTAL FERTILITY RATE

Subject : Governance

Context : The Assam unit of the Congress has slammed Chief Minister for asking a minority community to adopt population control measures to prevent encroachment and pressure on land resources.

Concept :

It cited the latest National Family Health Survey (NFHS) released in December 2020, which said the total fertility rate (TFR) declined across most Indian States in the last five years.
The total fertility rate is defined as the average number of children that would be born to a woman by the time she ends childbearing.
According to the UN Population Division, a total fertility rate (TFR) of about 2.1 children per woman is called replacement-level fertility.
The fertility rate of less than 2.1 implies that the total population will be less than the existing population which is also called the negative growth rate.
The same survey said the fertility rate of women in Assam declined from 2.2 in 2015-16 to 1.9 in 2020-21, which means the future population of Assam will only be less than the current population. Hence there is no question of an increase in population.

Indicators of fertility

High fertility: Total fertility levels above 5 children per woman.
Replacement-level fertility: Total fertility levels of about 2.1 children per woman.
Below-replacement fertility: Total fertility levels below 2.1 children per woman.
Very low fertility: Total fertility levels below 1.3 children per woman.

12. Hardy – vigorous corals (Blue Rice Corals)

Subject : Environment

Context : In 2014 and 2015, the brown rice coral in Hawaii was completely bleached, but the blue rice coral recovered quickly after bleaching, and blue coral was unaffected by the elevated ocean temperatures.

Concept :

Hawaiian blue rice corals have a deep blue pigment derived from algae called zooxanthellae that live inside the coral tissue.
The researchers found that these algae produce sunscreen for the coral.
This pigment has a protein named chromoprotein which filters out harmful UV radiation.
After the 2014 and 2015 Hawaii bleaching events, the blue rice coral was found to have exceptional reproductive vigour at 90% motility.
But the brown coral’s motility was only half this. A key factor in the blue rice coral’s ability to reproduce successfully might be its sunscreen pigment, which the coral may retain even if it bleaches.

Corals:

Corals are made up of genetically identical organisms called polyps. These polyps have microscopic algae called zooxanthellae living within their tissues.
The corals and algae have a mutualistic relationship.
The coral provides the zooxanthellae with the compounds necessary for photosynthesis. In return, the zooxanthellae supply the coral with organic products of photosynthesis, like carbohydrates, which are utilized by the coral polyps for the synthesis of their calcium carbonate skeletons.
In addition to providing corals with essential nutrients, zooxanthellae are responsible for the unique and beautiful colors of corals.
They are also called the “rainforests of the seas”.

There are two types of corals:

Hard, shallow-water corals—the kind that builds reefs.
Soft corals and deep water corals that live in dark cold waters.

13. RNA into DNA

Subject : Science & tech

Context : A new study notes that as against the current understanding that only DNA transcription into RNA as being possible, the reverse can also happen.

Concept :

Deoxyribonucleic acid (DNA) and Ribonucleic acid (RNA) are important molecules in cell biology, responsible for the storage and reading of genetic information that underpins all life.
They are both linear polymers, consisting of sugars, phosphates and bases, but there are some key differences which separate the two.
Unlike DNA which is double stranded, RNA is single-stranded.
The bases in DNA are Adenine (‘A’), Thymine (‘T’), Guanine (‘G’) and Cytosine (‘C’). RNA shares Adenine (‘A’), Guanine (‘G’) and Cytosine (‘C’) with DNA, but contains Uracil (‘U’) rather than Thymine.
Unlike DNA which replicates and stores genetic information and functions as a blueprint for all genetic information contained within an organism, RNA converts the genetic information contained within DNA to a format used to build proteins, and then moves it to ribosomal protein factories.

Transcription

Transcription is the process of copying a segment of DNA into RNA. The segments of DNA transcribed into RNA molecules that can encode proteins are said to produce messenger RNA.

14. Great apes in peril

Subject : Environment

Context : A study involving over 60 co-authors has found that African great apes, are set to suffer massive range declines due to impacts of climate change, land-use changes and increase in human population.

Concept :

The study looked at the impact of climate change, human population growth and human land use on great ape habitat range, and developed estimates for habitat loss in the best and worst case scenarios.
The researchers predict that Africa’s great apes, which include gorillas, chimpanzees and bonobos, will lose 85 per cent of their habitat range by 2050.
Climate change, human land use and population growth push vegetation and other food sources uphill, leaving the survival of Africa’s great apes, as well as other land animals, up to their ability to climb and adapt to new environments.
African ape populations are currently endangered, largely due to habitat loss, poaching, pet trades and climate change.
Asia’s only great ape, the orangutan, is also in deep trouble (critically endagered species).
Its last remaining strongholds in the rainforests of Sumatra (Indonesia) and the island of Borneo (Indonesia and Malaysia) are being destroyed by illegal logging, a proliferation of palm oil plantations, and by widespread forest fires, many set by plantation owners.

15. FAME II to spur new tech, says Venu

Subject : Government Schemes

Context : TVS Motor Company Limited’s Joint Managing Director Sudarshan Venu on Saturday welcomed the revision of FAME II subsidies for electric two-wheelers, and said the move would give a fillip to both increased adoption and technology development.

Concept :

With an aim to promote eco-friendly vehicles, the government had launched the FAME India scheme (Faster Adoption and Manufacturing of (Strong) Hybrid and Electric Vehicles in India) in 2015.
The second phase of FAME India Scheme focuses on supporting electrification of public and shared transportation and aims to support electrification through subsidies for electric vehicles, including buses, passenger cars and two-wheelers.
FAME-II will cost Rs 10,000 crore over 3 years till 2022 and intends to provide incentives to the manufacturers of electric and hybrid vehicles.
Out of total budgetary support, about 86 percent of fund has been allocated for Demand Incentive so as to create demand for xEVs in the country.
The incentives for electric vehicles will help increase penetration and lead to the indigenous development of future electric technology.
It also motivates to establish the necessary charging Infrastructure for electric vehicles.