Daily Prelims Notes 21 November 2020

November 21, 2020
Posted by: OptimizeIAS Team
Category: DPN

Table Of Contents

Subject : Environment

Context : Recent surveys done by the Wildlife Association of South India (WASI) indicate that the population of the Masheer species in the Moyar is likely to be genetically pure owing to its isolation.

Concept :

Largest and hardest fighting freshwater fish in the world, the majestic hump-backed mahseer, once a prize catch for anglers, is on the verge of extinction.
The hump-backed mahseer is a large freshwater fish also called the tiger of the water and found only in the Cauvery river basin including Kerala’s Pambar, Kabini and Bhavani rivers.
It is now “Critically Endangered”: more threatened than the tiger is, as per the IUCN’s Red List of Threatened Species.
The inclusion was possible only once the fish got its scientific name last June—Tor remadevii.

2. INNER LINE PERMIT

Subject : Security

Context : Meghalaya-based organisations have renewed their movement for the implementation of the British era inner-line permit (ILP) for entry into the State and the scrapping of the Citizenship (Amendment) Act.

Concept :

It is a concept based on the policy of exclusion drawn by colonial rulers in the form of Bengal Eastern Frontier Regulation Act (BEFR), 1873.
The BEFR prohibits an outsider’s — “British subject or foreign citizen” — entry into the area beyond the Inner Line without a pass and his purchase of land there.
It protected the commercial interests of the British from the tribal communities.
BEFR came as a response to the reckless expansion of British entrepreneurs into new lands which threatened British political relations with the hill tribes.
After Independence, the Indian government replaced “British subjects” with “Citizen of India”.
The Inner Line separates the tribal-populated hill areas in the Northeast from the plains. To enter and stay for any period in these areas, Indian citizens from other areas need an Inner Line Permit (ILP).
The main aim of ILP system is to prevent settlement of other Indian nationals in the States where ILP regime is prevalent, in order to protect the indigenous/tribal population.
The Adaptation of Laws (Amendment) Order, 2019 extended the ILP regime to Manipur – after Arunachal Pradesh, Nagaland and Mizoram where the ILP regime is applicable.

3. AMENDMENT TO BANKING LAW

Subject : Economics

Context : RBI panel moots allowing large corporates to start private banks after amending bank regulation law.

Concept :

An Internal Working Group (IWG) of the Reserve Bank of India (RBI) has recommended raising the cap on promoters’ stake in private sector banks to 26% in the long run (15 years).
The holding is currently mandated at 15% of the paid-up voting equity share capital of the bank.
As regards non-promoter shareholding, it has suggested a uniform cap of 15% of the paid-up voting equity share capital of the bank for all types of shareholders.
The IWG, set up in June, has also suggested that large corporate or industrial houses be allowed as promoters of banks only after necessary amendments to the Banking Regulation Act, 1949 .
Also, well-run non-banking financial companies (NBFCs), with an asset size of ₹50,000 crore and above, including those owned by a corporate house, may be considered for conversion into banks .
It should have completed 10 years of operations, meeting due diligence criteria and compliance with additional specified conditions, the panel said.

Conversion to SFB

The panel also recommended that for Payments Banks intending to convert to a Small Finance Bank (SFB), their track record of three years should be considered sufficient.
Small Finance Banks and Payments Banks may be listed within ‘6 years from the date of reaching net worth equivalent to prevalent entry capital requirement prescribed for universal banks’ or ‘10 years from the date of commencement of operations’, whichever is earlier.
The IWG also suggested that the minimum initial capital requirement for licensing new banks be enhanced from ₹500 crore to ₹1,000 crore for universal banks, and be raised to ₹300 crore from ₹200 crore for SFBs.

4. IPO ISSUE

Subject : Economics

Context : SEBI moots easier dilution norms for large IPO issues.

Concept :

Markets regulator SEBI on Friday proposed to reduce the minimum offer size in an initial share sale, whereby companies with a post-issue capital of above ₹10,000 crore would be required to offer at least 5% stake in IPO.
At present, all companies with a post-issue capital above ₹4,000 crore are compulsorily required to dilute at least 10% shareholding in an initial public offering (IPO).
SEBI said there could be a scenario where large issuers may not be compliant with 10% minimum public shareholding (MPS) at the time of listing.
Accordingly, the regulator recommended that MPS of 10% should be achieved in 18 months by such issuers and 25% within 3 years from the date of listing.

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.

5. BAN ON ONLINE GAMING

Subject : Polity

Context : Tamil Nadu Governor promulgates ordinance to ban online gaming.

Concept :

Tamil Nadu Governor promulgated an ordinance to ban online gaming in the State, providing for the levy of a ₹5,000 fine and six months’ imprisonment for those found to be engaging in it.
An official statement from the Raj Bhavan noted that innocent people, mainly youngsters, were being cheated due to online gaming, and some had even been pushed to take the extreme step.

Ordinace Power of Governor :

He can promulgate ordinance when the Legislative Assembly is not in session in case of the unicameral legislature or when both Legislative assembly and council are not in session in case of a bicameral legislature.
He can roll-out an ordinance for only those matters on which state legislature can make laws.
His ordinances have the same effect on policies as state’s acts will have. If his ordinance legislates on matters which state government has no power on, the ordinance stands null and void.
The ordinance introduced by him can be withdrawn anytime.
His power to promulgate ordinance is not a discretionary power. Council of Ministers’ (headed by CM) advice is a pre-requisite.
President’s instructions on the following three cases are must:
If a bill containing the same provisions would have required the previous sanction of the President for its introduction into the state legislature.
If he would have deemed it necessary to reserve a bill containing the same provisions for the consideration of the President.
If an act of the state legislature containing the same provisions would have been invalid without receiving the President’s assent.

6. SPREAD OVER TIME

Subject : Legislation

Context : The Labour Ministry has proposed raising ‘spread over time’ for a worker to 12 hours a day from the current limit of 10-and-half hours.

Concept :

This is part of the draft rules for the Occupational Safety, Health and Working Conditions Code.
‘Spread over time’ refers to working hours plus the time for lunch and other breaks.
No worker shall be required, or allowed, to work in an establishment for more than 48 hours in a week, the draft rules state.
The period of work shall be so arranged that, inclusive of the intervals for rest, it shall not spread over for more than 12 hours in a day.
The government has kept weekly working hour consistent with the ILO convention. However, by increasing the ‘spread over time’, it has given employers the leeway to keep worker in for longer hours.

Single licence

To formalise the contract labour system, the draft rules spell out the conditions for a contractor to get a licence.
It states that the contractor, as an entity or as an individual, should not be an un-discharged insolvent or convicted any time during the last two years of any criminal offence liable for more than three months of imprisonment.
There will also be provision for single licence for a contractor to work in more than one State.

7. LNG FUELLING STATIONS

Subject : Economy

Context : Minister of Petroleum & Natural Gas and Steel laid the foundation stone for the first 50 LNG fuelling stations, across the golden quadrilateral and major National Highways.

Concept :

Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport.
LNG is not only almost 40% cheaper than diesel but also causes very less pollution. LNG use in trucks can reduce SOx emissions by 100% and NOx emissions by 85% thus befitting society at large.
Government will set up LNG stations at the distance of 200-300 km on golden quadrilateral, and within 3 years, we will have 1000 LNG stations on all major roads, industrial hubs and mining areas.
These fifty LNG stations will be set up and commissioned in partnership by country’s Oil & Gas majors such as IOCL, BPCL, HPCL, GAIL, PLL, Gujarat Gas and their Joint Venture Companies and subsidiaries.

8. MEGHALAYA INTEGRATED TRANSPORT PROJECT (MITP)

Subject : Economy

Context : The Government of India, the Government of Meghalaya and the World Bank signed a $120 million project to improve and modernise the transport sector of state of Meghalaya

Concept :

The project will improve about 300 km of strategic road segments and stand-alone bridges by using innovative, climate resilient, and nature-based solutions. It will also support innovative solutions such as precast bridges to reduce both time and cost of construction.
MITP will help Meghalaya develop reliable, climate resilient and safe roads which is crucial for the economic development of the state. About half of the 5,362 habitations in the state lack transport connectivity.
This operation will also support state government’s “Restart Meghalaya Mission” to revive and boost development activities affected due to COVID-19 pandemic.
The $120 million loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 14 years including a grace period of 6 years.

9. VATAYAN LIFETIME ACHIEVEMENT AWARD

Subject : Current Events

Context : Union Education Minister Ramesh Pokhriyal ‘Nishank’ will be conferred with the Vatayan Lifetime Achievement Award at a virtual ceremony on 21st November, 2020.

Concept :

Vatayan International Awards given by the Vatayan-UK organization in London, honours poets, writers and artists for their exemplary work in their respective fields.
Earlier many eminent personalities like Prasoon Joshi, Javed Akhtar have been awarded the Vatayan Awards for their literary contribution.
Shri Pokhriyal has penned more than 75 books on wide ranging issues, which have also been translated into many national and foreign languages.
He has earlier received several awards in the field of literature including Sahitya Bharati Award by the then Prime Minister Shri Atal Bihari Vajpayee, Sahitya Gaurav Samman by Former President Dr. A.P.J. Abdul Kalam etc.

10. ONE WEB SATELLITE

Subject: Science & tech

Context: UK joins with Bharti to take control of failed space start-up OneWeb, a low earth orbit satellite operator.

Concept:

OneWeb’s emergence from distressed businesses use to reorganise themselves, gives a significant boost to the UK’s ambitions to become a major commercial space player and to develop cutting-edge positioning technology that could be used to cement international security alliances.
The company was one of the earliest to propose a mega-constellation to deliver internet to remote parts of the world but SpaceX’s Starlink constellation already has about 800 satellites in low-earth orbit against OneWeb’s 74.
The initial focus will be to deliver a viable commercial internet service to the UK and the Arctic region by autumn next year.
One Web intends to launch 36 more satellites on December 17 and will accelerate launches next year to complete its target of having 650 satellites in orbit by 2022 for its global coverage.
Goal will be to launch global commercial internet service focusing on remote areas by 2022.

11. NEUTRALIZING ANTIBODIES

Subject :Science

Context: A new study in Pune has revealed that nearly 85% of the people who had been found infected with novel coronavirus in a sero survey, conducted earlier, had developed neutralising antibodies. If a person has developed neutralising antibodies, this means he has developed immunity against the disease.

There is a misconception that everyone who has recovered from an infection by a disease- becomes immune to the disease, because they build antibodies against it. But that is not the case.
While the creation of antibodies is necessary for the recovery process, it does not guarantee immunity against a future attack from the same virus. Immunity comes from what are known as “neutralising” or “protective” antibodies.

What are Neutralising antibodies?

They are a small subset of the disease-specific antibodies that are generated once an infection has occurred. The neutralising antibodies become special because they have the ability to thwart the entry of the same virus inside human bodies in the future. The other antibodies help in fighting off the virus once the infection has already happened.

How is Pune sero survey different from other sero survey done in India?

All previous sero surveys Delhi, Mumbai, Pune and other cities, only look for the presence of antibodies in people. Their purpose is to find out whether a person has been infected with the virus or not, and through random testing of people, estimate the extent of spread of the disease, or prevalence, in a population group. Detection of disease-specific antibodies confirms that the person had been infected with the virus in the past.
Therefore, a further test needs to be carried out to detect the presence of neutralising antibodies. This is what has happened in the case of Pune. So far, this is the only study that has looked for neutralising antibodies.