Daily Prelims Notes 4 March 2025

Daily Prelims Notes

4 March 2025

Table Of Contents

1. SEBI Allows All NBFCs & HFCs to Invest in ARC Security Receipts
2. Implications of Treating Virtual Digital Assets (VDAs) as Taxable Properties
3. Research team takes big step towards making a Bose metal
4. First Estimate of Gangetic Dolphins in India
5. Electors Photo Identity Card (EPIC) and Allegations of Voter Fraud
6. ISRO releases second set of scientific data from Aditya mission
7. India launches multi-nation alliance for collaboration on sustainable development
8. NASA set to launch SPHEREx telescope to explore what happened right after Big Bang

1. SEBI Allows All NBFCs & HFCs to Invest in ARC Security Receipts

Sub: eco

Sec: Monetary policy

Why in News? 

• SEBI has permitted all Non-Banking Financial Companies (NBFCs), including Housing Finance Companies (HFCs), (under the SARFAESI Act, 2002, which provides legal backing for securitization and asset reconstruction in India) to invest in security receipts issued by Asset Reconstruction Companies (ARCs).
• This move aims to widen the scope of participants and boost liquidity in the distressed asset market.
• ARCs are registered with RBI and regulated under the SARFAESI Act, 2002.

2. Implications of Treating Virtual Digital Assets (VDAs) as Taxable Properties

Sub: eco

Sec : Fiscal policy

Why in News?

• The Income Tax Bill, 2025 has classified Virtual Digital Assets (VDAs) (including cryptocurrencies and NFTs) as property and capital assets, subject to taxation, regulation, and seizure of crypto assets, preventing their misuse in illicit financial activities.
• India aligns its approach with global standards followed by other countries such as U.K., U.S., Australia, New Zealand, Singapore, and UAE.
• The bill imposes a flat 30% tax on VDA transfers, along with 1% TDS on transactions and mandatory reporting to enhance financial transparency and prevent misuse.

3. Research team takes big step towards making a Bose metal

Sub: Sci

Sec: Msc

Introduction

• A Bose metal is an anomalous metallic state (AMS) with unique electrical properties.
• It is a state where Cooper pairs exist but do not condense into a superconductor.
• This makes Bose metals a significant area of research in condensed matter physics.

Conductivity in Metals

• Metals conduct electricity due to free-moving electrons in a lattice of atomic nuclei.
• Conductivity varies with temperature:
• At room temperature (20ºC), zinc has a conductivity of 16.9 million siemens per meter.
• At -272.3ºC, zinc becomes a superconductor with infinite conductivity.

Superconductivity and Cooper Pairs

• Superconductors exhibit zero resistance below a critical temperature.
• At low temperatures, electrons pair up due to weak attractive forces, forming Cooper pairs.
• These pairs undergo a phase transition, leading to superconductivity.

Anomalous Metallic States (AMS)

• Some metals improve their conductivity at low temperatures but do not become superconductors.
• They conduct electricity via Cooper pairs instead of electrons but lack long-range superconducting coherence.
• This state is termed a Bose metal.

Bose Metal: A Challenge to Traditional Theories

• Classical theories suggest that at absolute zero, metals should either:
• Become superconductors (infinite conductivity) or
• Become insulators (zero conductivity).
• A Bose metal defies this expectation by maintaining a conductivity between zero and infinity.

Recent Research on Bose Metals

• Until now, Bose metals were only theoretically predicted.
• On February 13, 2025, researchers from China and Japan found strong evidence of a Bose metal in niobium diselenide (NbSe₂).

Role of Magnetic Fields

• Superconductors expel magnetic fields when cooled below their critical temperature.
• Type-II superconductors like NbSe₂ allow magnetic fields to enter in isolated pockets.
• When a 2D version of NbSe₂ is subjected to a specific magnetic field, it exhibits properties of a Bose metal.

Experimental Findings

• Researchers used Raman spectroscopy to confirm the presence of Cooper pairs in non-superconducting NbSe₂.
• Hall resistance vanished as the thickness of NbSe₂ increased, indicating charge transport via Cooper pairs instead of electrons.

Theoretical Implications

• The study suggests AMS is characterized by fluctuating local pairing that does not condense into superconductivity.

Findings challenge existing theories about:

• Superconducting pockets in non-superconducting materials.
• Coexistence of superconducting and non-superconducting phases.

Future Prospects

• Bose metals currently lack practical applications.
• However, they provide a rich playground for physics research, which could drive future technological advancements.

4. First Estimate of Gangetic Dolphins in India

Sub: Env

Sec: Species in news

Context:

• The first-ever estimate of Gangetic dolphins, India’s only riverine dolphins, recorded 6,327 individuals in the Ganga and its tributaries.
• The study was conducted between 2021 and 2025, covering a cumulative distance of 8,507 km.
• The maximum number of dolphins were reported in Uttar Pradesh, followed by Bihar, West Bengal, and Assam.

Dolphin Population Estimates

• Total population: 6,327 dolphins.
• Ganges river dolphins: 6,324.
• Indus river dolphins: 3.
• Distribution across river systems:
• Ganga main stem: 3,275 dolphins.
• Ganga tributaries: 2,414 dolphins.
• Brahmaputra mainstream: 584 dolphins.
• Brahmaputra tributaries: 412 dolphins.
• River Beas: 101 dolphins.

Challenges in Dolphin Counting

• Dolphins are underwater species, surfacing only occasionally to breathe.
• Unlike tigers (stripes) or elephants (ears), individual dolphins cannot be uniquely identified visually.
• The survey used acoustic hydrophones (underwater microphones) to detect sounds emitted by dolphins.
• Echo-location is the primary mode of communication and movement for these blind animals.

Double counting prevention:

• Used triangulation method with two different observer groups on the boat.

Survey Methodology

• Conducted via boats moving at a constant speed.
• Researchers trained in new techniques for accurate estimation.
• The next survey is planned after four years.

Threats to Gangetic Dolphins

• Fishing nets: Dolphins often get entangled and die.
• Pollution: Studies are underway to analyze its impact on dolphin habitat.

Government Involvement

• Report made public on March 3, 2025 (World Wildlife Day).
• Announced by Prime Minister Narendra Modi during the National Board for Wildlife meeting in Gujarat.
• Local population participation and school visits to dolphin habitats were encouraged for conservation awareness.

Conclusion

• The survey provides a baseline estimate but cannot determine trends over time due to different past methodologies.
• Conservation efforts must focus on reducing fishing net entanglement and mitigating pollution effects on dolphin habitats.

5. Electors Photo Identity Card (EPIC) and Allegations of Voter Fraud

Sub: Polity

Sec: Elections

Allegations of Voter Fraud

• West Bengal Chief Minister and TMC Chief Mamata Banerjee has accused the BJP of colluding with the Election Commission (EC) to influence the upcoming Assembly election in West Bengal using fake voters.
• Banerjee flagged several electors with the same Electors Photo Identity Card (EPIC) number, raising concerns over the purity of the electoral roll.
• Similar allegations of voter fraud have been made in Maharashtra and Delhi in the past.

Election Commission’s Response

• The Election Commission clarified that some electors do indeed have identical EPIC numbers, but they belong to different states.
• The EC emphasized that duplication in EPIC numbers does not imply duplicate or fake voters.

What is an EPIC?

• The Registration of Electors Rules, 1960 provides for an Electors Photo Identity Card (EPIC) to be issued to all electors to prevent impersonation.
• EPICs were first issued by state governments in 1993.
• An EPIC is an identity document but does not grant the holder the right to vote. Voting rights are only available to those whose names appear in the electoral roll of their respective constituencies.

Details Contained in an EPIC

• Name of the elector
• Age of the elector
• Residence and other particulars specified by the EC
• Photograph of the elector
• Facsimile signature of the registration officer

EPIC Number and Its Uniqueness

• As per the EC’s Manual on Electoral Rolls, 2023, “every EPIC is issued under a unique EPIC Number.”
• The EPIC number is an alphanumeric series consisting of three alphabetical codes followed by a seven-digit number.
• This number includes a Functional Unique Serial Number (FUSN) for each Assembly constituency.

 Issuance and Management of EPICs

• Since 2017, EPICs have been generated using the EC’s ERONET portal.
• EPICs can only be made online through this system.
• A unique EPIC number is allotted to every elector when an EPIC is issued for the first time.
• In the case of a replacement EPIC, the number remains the same as the original.

6. ISRO releases second set of scientific data from Aditya mission

Sub : Sci

Sec : Space sector

Context:

• The Indian Space Research Organisation (ISRO) has released the second set of scientific data from its Aditya-L1 solar mission.
• The Aditya-L1 mission, launched on September 2, 2023, is currently observing the Sun during its third revolution in a halo orbit around L1, which is located 1.5 million kilometres from Earth towards the Sun.
• The datasets provide valuable information about the Sun’s photosphere, chromosphere, and corona, along with particle and magnetic field measurements from the first Earth-Sun Lagrange Point (L1).

Access to Data:

• The Aditya-L1 datasets are widely accessible through the Indian Space Science Data Centre (ISSDC) portal. Researchers and students can access the data for further analysis by visiting the ISSDC website at www.issdc.gov.in/adityal1.html or through the PRADAN portal at pradan.issdc.gov.in/al1 and pradan1.issdc.gov.in/al1.
• User manuals for analysing the Aditya-L1 payload data are also available on these portals after registration.
• ISRO encourages the scientific community, researchers, and students to utilize these datasets for further study and exploration.

About Aditya-L1 Mission:

• Aditya-L1 is India’s inaugural mission dedicated to studying the Sun, developed by the Indian Space Research Organisation (ISRO).
• Launched on September 2, 2023, aboard the PSLV-C57 rocket, the spacecraft was successfully inserted into a halo orbit around the Sun-Earth Lagrange Point 1 (L1) on January 6, 2024.

Mission Objectives:

• Investigate the behaviour and heating mechanisms of the Sun’s chromosphere and corona, including the study of coronal mass ejections (CMEs) and their origins.
• Analyse the properties and dynamics of the solar wind, enhancing our understanding of space weather phenomena and their impact on Earth.
• Measure energetic particle fluxes and magnetic fields in the space environment around L1 to study the solar wind and magnetic storms affecting both space and terrestrial technologies.

Payloads:

• Visible Emission Line Coronagraph (VELC)
• Solar Ultraviolet Imaging Telescope (SUIT)
• Solar Low Energy X-ray Spectrometer (SoLEXS)
• Aditya Solar wind Particle Experiment (ASPEX)
• High Energy L1 Orbiting X-ray Spectrometer (HEL1OS)
• Plasma Analyser Package for Aditya (PAPA)
• Advanced Tri-axial High-Resolution Digital Magnetometers

Significance of L1 Orbit:

• Positioned at the L1 point, approximately 1.5 million kilometres from Earth towards the Sun, Aditya-L1 enjoys an uninterrupted view of the Sun, free from Earth’s shadow. This strategic location allows for continuous solar observations.

7. India launches multi-nation alliance for collaboration on sustainable development

Sub : Env

Sec : Int conventions

Context:

• India launched the Cities Coalition for Circularity (C-3), a multi-nation alliance aimed at fostering city-to-city collaboration, knowledge-sharing, and private sector partnerships for sustainable urban development at the 12^th Regional 3R and Circular Economy Forum.
• This initiative will provide a platform for policymakers, industry leaders, researchers, and development partners to discuss and implement solutions for waste management and resource efficiency in Asia-Pacific economies.
• At the event in Jaipur, a significant Memorandum of Understanding (MoU) for the CITIIS 2.0 initiative was also signed.

Objectives of C-3:

• To promote sustainable urban development.
• To enhance waste management practices and resource efficiency.
• To support the implementation of circular economy principles, including the 3Rs (Reduce, Reuse, Recycle), across cities in the Asia-Pacific region.

India’s Role in C-3:

• In a special written message during the launch, Prime Minister Narendra Modi emphasized India’s commitment to sustainability and circular economy principles. He highlighted the country’s advocacy for the “P (Pro-Planet People)” approach, which focuses on environmental sustainability, and the importance of the 3Rs for achieving resource efficiency.
• He also stated that India is willing to share its experiences and learnings in creating a circular economy and proposed the formation of a working group of member nations to finalize the coalition’s structure and operational framework.

Regional 3R and Circular Economy Forum:

• The Regional 3R and Circular Economy Forum in Asia and the Pacific was launched in 2009 to promote sustainable waste management, resource efficiency, and the adoption of circular economy principles across the region.
• It serves as a key platform for policy dialogue, capacity-building, and collaboration among governments, industry, and other stakeholders.
• One of the major milestones of the forum was the adoption of the Hanoi 3R Declaration (2013-2023), which set out 33 voluntary goals for member countries to shift towards a resource-efficient and circular economy.

CITIIS 2.0 Initiative:

• The CITIIS 2.0 (City Investments to Innovate, Integrate, and Sustain) initiative is aimed at enhancing urban infrastructure and promoting sustainable development in Indian cities.
• It seeks to implement innovative solutions for urban challenges, focusing on climate resilience, resource efficiency, and sustainability.
• CITIIS 2.0, implemented by the Ministry of Housing and Urban Affairs (MoHUA), is partnered with the French Development Agency (AFD), Kreditanstalt für Wiederaufbau (KfW), the European Union (EU), and the National Institute of Urban Affairs (NIUA).
• The program will run from 2023 to 2027.

8. NASA set to launch SPHEREx telescope to explore what happened right after Big Bang

Sub : Sci

Sec : Space sector

Context:

• NASA is preparing to launch the SPHEREx space telescope, a mission aimed at gaining insights into the origin of the universe and searching for water reservoirs within the Milky Way.
• The telescope, which is shaped like a megaphone, is set to be launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California.

About SPHEREx space telescope:

• The SPHEREx (Spectro-Photometer for the History of the Universe, Epoch of Reionization and Ices Explorer) space telescope is a NASA mission designed to explore the origins of the universe and investigate cosmic phenomena by mapping the distribution of galaxies and searching for water in the Milky Way.
• One of its primary objectives is to investigate cosmic inflation, the rapid expansion of the universe shortly after the Big Bang, and to map the distribution of galaxies to constrain the physics behind this event.
• The observatory is planned for a two-year mission.

Mission Objectives:

Understanding the Universe’s Origins:

• SPHEREx (Spectro-Photometer for the History of the Universe, Epoch of Reionization and Ices Explorer) will map the distribution of galaxies and investigate the origins of the universe. It will help explore the cosmic inflation theory, which explains the rapid and exponential expansion of the universe after the Big Bang.

Searching for Water in the Milky Way:

• Closer to home, SPHEREx will search for water frozen and molecules such as carbon dioxide and carbon monoxide on the surface of interstellar dust grains in molecular clouds, which are dense regions of gas and dust where stars and planets form. This could provide insights into the formation of water in the universe and its potential role in the origin of life.

3D Mapping:

• The observatory will create a three-dimensional map of the universe using 102 distinct wavelengths of light, offering detailed data on over 450 million galaxies and more than 100 million stars in the Milky Way.
• SPHEREx will use spectroscopy (the study of objects based on their colour) to observe cosmic sources, splitting light from billions of stars and galaxies into their component wavelengths. This will allow scientists to understand the composition and distance of these objects, creating a 3D map of the universe.