9 PM Daily Current Affairs Brief – October 27th, 2022

Current Affairs Compilations for UPSC IAS Prelims 2022

Mains Oriented Articles

GS Paper 2

• Improving access to entertainment content
• Pakistan’s exit from FATF Grey List and India’s challenge
• We’ve made significant progress on poverty reduction
• Protecting competition – on CCI penalty on Google
• The foundational education we impart makes a huge difference

GS Paper 3

• The overvalued rupee: Managing exchange rate volatility and forex reserves
• The climate crisis and the urgent need for global cooperation
• Why producing CBG, LBG, hydrogen, methanol from biogas can be beneficial

Prelims Oriented Articles (Factly)

• Genetic Engineering Appraisal Committee approves commercial cultivation of genetically modified mustard yet again
• ISRO to boost NavIC, widen user base of location system
• Two more Indian Beaches enter the coveted list of Blue Beaches
• AAP wants Lakshmi-Ganesh on currency: who designs rupee notes, and how?
• Antitrust cases against Google, how regulator decided fine
• In a first, UNSC’s Counter Terrorism Committee to meet in India this week
• Bats evicted from prehistoric Manipur cave for tourism: Study
• After 5G, here’s how Ambani will use financial services to tighten DNA loop
• New technology for retrofitting non-earthquake-resistant buildings can prevent major damage in old settlement
• Explained | The FM’s call for industrial investment
• Balance required between people’s safety, animal rights: SC on stray dog menace

Mains Oriented Articles

GS Paper 2

Improving access to entertainment content

News: The article discusses the efforts that is required to make movies disabled friendly.

Movies should be made in such a way that even disabled can watch it and enjoy it. However, the efforts taken in India have not been successful in making movies disabled friendly.

What makes movies/entertainment content disabled friendly?

There are two important tools – a) audio description and b) subtitling.

Audio description refers to description of the visual in the form of audio so that it can benefit blind whereas subtitling refers to displaying the textual form of the audio component of the video so that it can benefit deaf.

However, the potential of these two tools have not been used in India and there has been a need for the remedy.

How has India taken step to make entertainment videos disabled friendly?

Law: The Rights of Persons with Disabilities (RPwD) Act provides guidance towards making entertainment content disabled friendly.

• Section 29(h) of the Act provides that the government should take measures to ensure that persons with hearing impairment can have access to television programmes with sign language interpretation or sub-titles.
• Section 42(ii) requires that the government should take measures to ensure that persons with disabilities have access to electronic media by providing audio description, sign language interpretation and close captioning.

Ministry: The Union Ministry of Information and Broadcasting (I&B Ministry) issued a letter to the Central Board for Film Certification (CBFC) in 2019.

• It requested the Board to motivate and persuade its associated members to make audio description part of the production and distribution of a film.

App: Saksham has developed XL Cinema app which syncs audio-described tracks with movies. It helps the disabled person to hear the audio description of the movie at the same time when the movie is being showcased.

Some of the movies that have been audio described are – Sanju, Andhadun and Romeo Akbar Walter.

However, the steps taken by these organization are not enough and there is a further need for the improvement.

What is the way forward?

First, there is a need to put pressure on the production houses to provide audio description and subtitling. This will make the movie disabled friendly.

• Further, the film studios must realize that making disabled-friendly content is morally, legally and commercially right.

Second, user organization must come up to help production houses that lack capabilities in making content disabled friendly. They must engage in engage in capacity-building initiatives.

Third, there is a need for the engagement of the civil society through legal process of making content disabled friendly.

• Citizens with disabilities must demand accountability from the government, filmmakers, streaming platforms and others in the entertainment ecosystem through the judicial process.

Fourth, the I&B Ministry is taking efforts to notify the Accessibility Standards for Television Programmes for Hearing Impaired for three years. A similar standard must be framed for the visually impaired and a prompt action should be taken for its implementation.

Pakistan’s exit from FATF Grey List and India’s challenge

News: The Financial Action Task Force (FATF) has recently announced the removal of Pakistan from its “Grey List’. This announcement was unexpected and it also raises concerns for India.

What is the Financial Action Task Force (FATF) and what are its objectives?

How does FATF fulfil its objectives?

It draws a list of guidelines known as the “FATF Recommendations” or “FATF Standards”.

These standards include a range of regulatory and enforcement actions that states are expected to implement. More than 200 countries and jurisdictions are committed to implementing the FATF’s recommendations.

The decision against a country is taken on the basis of consensus between and FATF and its associate or regional members such as the Asia Pacific Group on Money Laundering (APG).

How does FATF monitors the implementation of its recommendations and what makes country to come in the grey/black list of FATF?

It monitors by periodic evaluations of the anti-money laundering (AML), combating financing of terrorism (CFT) and proliferation financing (PF) system.

Countries that have strategic deficiencies in their AML/CFT/PF regimes are placed under a scheme of increased monitoring also known as “Grey Listing.”

Countries placed in the grey list are expected to take the required measures to address their deficiencies on the basis of “Action Plans” drawn and evaluated by FATF.

Countries that have serious strategic deficiencies in their AML/CFT/ PF regimes are placed under a “Black List” also known as “High-Risk Jurisdictions subject to a Call for Action.”

Grey list acts as a warning to countries whereas black list have serious economic consequences by increasing check on the transaction made to the designated country.

Presently, there are 23 countries on the FATF’s “Grey List” excluding Pakistan while there are three countries on the “Black List” — North Korea, Iran and Myanmar.

How did listing in the grey list help to counter terror activities in Pakistan?

Pakistan has been pushed three times in the grey list and removed from it. It was placed for the third time in June, 2018.

The members of FATF have said that the adherence of FATF standards by a country should be judged on the basis of “effectiveness” of action taken against individuals and entities of concern, rather than pro-forma based “technical compliance”.

This approach was taken by FATF against Pakistan which increased a further threat of being black listed. These efforts made Pakistan to prosecute, convict, fine and jail, the wanted terrorists.

What are geopolitical concerns that favours Pakistan?

Although there was a threat to Pakistan of moving from grey list to black list but it could have not been possible. The decision could have been opposed by FATF members China, Malaysia, Turkey and Saudi Arabia due to their good relation with the country.

Moreover, the present listing of Pakistan in the grey list was done by the US. However, it was expected that Pakistan would be removed from the list after completion of US withdrawal from Afghanistan. It has proved to be true.

Further, the US have also remained back from declaring Pakistan a “state sponsor of terrorism” under American law despite the supportive evidence.

What India should do?

Although, there has been a decline in terrorist activities across the Line of Control (LoC) in J&K. However, regular sightings of drones bearing weapon payloads and infiltration along the LAC are indications of threat that is still present for India.

Therefore, India must continue with the available opportunities to counter terrorist activities and bring global pressure on Pakistan.

Moreover, there has also been geopolitical concerns that favors Pakistan at the global level.

We’ve made significant progress on poverty reduction

News: Multidimensional Poverty Index (MPI) 2022 has been released by the United Nations Development Programme (UNDP) and the Oxford Poverty & Human Development Initiative.

What approach is followed by MPI to list a household as multidimensionally poor?

It identifies overlapping poverty indicators and captures the intensity of deprivation.

Deprivation is calculated across 10 indicators using three dimensions – health, education and standard of living.

The weighted average score based on 10 indicators of each household is the MPI. If the deprivation score is one-third or higher, the MPI identifies the household as multidimensionally poor.

What are the findings of MPI 2022 for India?

Reduction in Poverty: India has made good progress on all 10 deprivation indicators. There has been reduction in the number of poor people (415 million people exit poverty) in India from 2005.

• This is the first time that India has shown poverty reduction performance like China. In terms of percentage, poverty fell from 55.1% of our population to 16.4% in 15 years, i.e., from 2005. Therefore, it can be said that India is no longer a poor country.

Number of Poor: India has the largest number of poor people worldwide (229 million).

Rural-Urban Gap: There is a huge gap between the people living in urban areas than those living in rural areas. Around 21.2% of rural residents are poor compared to only 5.5% of urban residents. Accord to the report, rural areas account for nearly 90% of all poor people in India.

Children-Adult Gap: More than one in five children (21.8%) are poor compared to one in seven adults (13.9%).

Deprivation indicators: The high deprivation indicators in India are access to cooking fuel, housing, nutrition and sanitation.

States: States such as Bihar, Jharkhand, Chhattisgarh, Madhya Pradesh, Rajasthan and Uttar Pradesh have made improvement still they are India’s most deprived states. Odisha has also joined the list of deprived states.

What can be the course of action?

The highlights of the report help India to reorient its public policy depending upon the deprivation indicators. The measures that can be taken by India are –

1. a) deprivations in people’s access to nutrition, cooking fuel, sanitation and housing need to be addressed on priority, b) the public distribution system should be oriented towards distributing nutrition from distributing basic calories, c) the subsidized cooking fuel benefits should be expanded further in rural areas, d) the central and state government should increase its effort in sanitation and affordable housing.

is it corect? [AS1]

The article says “global MPI complements the international $1.90 a day poverty threshold.” [AS2]

Yes Sir, it is correct. MPI is the global poverty index and it uses the global poverty standard. [at3]

Protecting competition – on CCI penalty on Google

News: The Competition Commission of India (CCI) has imposed two fines within seven days on Google.

What were the reasons behind imposing fine?

Fines were imposed for two reasons – a) misusing its dominant position in multiple categories related to the Android ecosystem, b) misusing its dominant market position with respect to its Play Store policies.

Multiple Categories: As per CCI, Google misused its position in the multiple categories that include misuse of android operating system, android apps, monopoly market share in search, etc.

Play Store Policies: Google made it mandatory to use Google Play Billing System (GPBS) for paid apps and in-app purchases for app developers which is termed as unfair practices by CCI. The failure to comply with using GBPS would not permit app developers to list on Play Store.

Further, as per CCI, Google discriminated in favor of YouTube by not requiring GPBS for it and it also integrated GPay to its Play Store that gave unfair advantage to its own UPI app.

Moreover, Google entered Mobile Application Distribution Agreements (MADA) with mobile manufacturers to ensure Google’s apps are pre-installed.

It gave a competitive edge to Chrome browser and YouTube and helped google to secure its exclusive position in online search.

These were the reasons for imposing fine on Google and CCI has also directed google to take certain steps.

What are the directions issued by CCI to Google?

It has stopped Google from forcing manufacturers to pre-install its applications and it has been prohibited to offer any monetary incentive or to enter into any arrangement for search exclusivity.

CCI also directed google to allow app developers to use third-party billing/payment processing services. This would ensure proper level playing field amongst the payment providers.

Google has been asked to come up with transparent policy on the data collected, use of data and also potential and actual sharing of data with other entities. It has also been directed that data collected through GPBS should not be misused.

Google is also instructed to not discriminate against apps providing payment through UPI apps other than GPay.

The foundational education we impart makes a huge difference

News- Recently, the National Curriculum Framework for Foundational Stage (NCF-FS) was released by India’s ministry of education. It is one of the most important dimensions in the implementation of the National Education Policy (NEP) 2020.

What is the schooling system suggested by NEP, 2020?

It has created a four stage “5+3+3+4” curricular structure.

The first stage is the foundational stage. The second is the preparatory stage. The third and fourth stages are the middle and secondary stages.

What is the importance of the foundational stage?

It is the most critical stage for overall development of an individual- physical, cognitive and socio-emotional.

Neuroscience research tells that 85% of brain development occurs by the age of 6.

The Foundation addresses early childhood care and education for 3-8 ages. It includes pre-schools, kindergarten, anganwadis and nursery.

What is the curriculum?

It is the entire organised experience of students in institutional settings to achieve educational aims. It includes learning and developmental goals, syllabus, pedagogical practices and assessment, learning environment, teaching-learning material.

What are the main highlights of the National Curriculum Framework for the Foundational Stage?

It addresses all domains of development called physical, ethical, cognitive, literacy, socio-emotional and cultural aspects.

Pedagogical approach in the new curriculum framework is play-based. It includes stories, music, crafts, conversation and field trips.

Teaching and learning is to be situated in the context of a child that includes local language and traditions. It caters to different needs and levels of children including children with special needs.

Assessment is seen as an enabler for learning and development. It is imagined as part of everyday classroom process and largely based on systematic and careful observation of children.

It focuses upon building an enabling ecosystem. It includes empowering teachers and enabling a supportive academic and administrative support system.

It speaks directly to teachers. It focuses upon classroom practices with real-life illustrations.

GS Paper 3

The overvalued rupee: Managing exchange rate volatility and forex reserves

News- The article explains the need for higher foreign reserves for India.

What factors explain the need for higher foreign reserves?

To prevent any sharp appreciation/depreciation of the rupee to provide a stable environment for domestic and foreign investment.

India should be prepared for economy-wide shocks such as the Covid-19 epidemic and unusual interest rate and fiscal decisions of central banks and governments of large economies. This in turn means that India should have enough stock of foreign reserves.

The overvaluation of the rupee has been driven by the interests of Indian importers, people who remit forex abroad and Foreign Institutional Investors (FIIs). The INR tends to become overvalued due to higher domestic nominal interest rates. It is the reason enough to let the rupee slide by gradual accumulation of dollars whenever there were opportunities.

Total factor productivity in India had to be much higher than in the US or western Europe if the INR were not to depreciate. The reason is higher nominal interest rates in INR debt instruments compared to the lower interest rates in G7 currencies.

Interest rates by central banks of major economies have been raised.

The US dollar is appreciating against all other major currencies.

Why US dollar has gained importance?

The US government is looking with suspicion at countries which have sustained a current account surplus of 2%. It is against the excessive accumulation of foreign reserves in dollars by central banks. India is also in a list of potential currency manipulators.

Dollar is likely to be the dominant reserve currency for at least another 10 years. It should be given a dominant weighting in estimating the six-currency real effective exchange rate (REER) of the rupee against the dollar, euro, pound sterling, yen, and China’s renminbi.

What should be potential forex in future?

Moody’s rating for India is Baa3, which is just about investment grade. The current account deficit projection for 2022-23 is around 3.5% of GDP.

Indian consumer price inflation was at 7.4% in September 2022.

Brent crude oil price per barrel was at $93 on October 25. It May persist around this level till uncertainties related to the conflict in Ukraine persist.

India’s short-term debt, with residual maturity of less than one year, was $267.7 billion at the end of March 2022.

All things considered, it would be prudent for India to raise its FX reserves to at least $700 billion by December 2024.

The climate crisis and the urgent need for global cooperation

News- The article explains steps taken by the EU to fight climate change. It also suggests solutions to fight climate change.

Global warming is fast approaching the 1.5 degrees level.

It is causing degraded ecosystems, disappearing forests, collapsing glaciers, heatwaves and floods.

What are the actions taken by the EU to fight climate change?

It has set the goal of cutting emissions by at least 55% by 2030 and reaching climate neutrality by 2050.

It is ensuring affordable and clean energy through green deal.

The EU had to postpone some of the decommissioning of coal-fired power plants as a temporary emergency measure due to the Ukraine crisis. But climate commitments for 2030 and 2050 are not endangered.

The EU continues to be the world’s biggest donor of climate finance. It is providing almost $28 billion in 2020.

What should be the way forward to tackle climate change?
 We have to change the paradigm of our economic models.

At the COP27 climate conference in November 2022, the international community and each country individually must set out what it has done and intends to do to limit the increase of global temperature to 1.5 degrees.

There is a need for global cooperation. We have to accelerate mitigation measures. Mitigation and adaptation must go hand in hand. Success must be demonstrated through actual and effective implementation.

How India and EU are cooperating to tackle climate change?
 The EU and its Member States are working together with India on energy efficiency, renewable energy, smart grids and storage, green hydrogen, e-mobility and decarbonisation.

The EU has also strengthened its engagement with the India-based International Solar Alliance and the Coalition for Disaster Resilient Infrastructure

Why producing CBG, LBG, hydrogen, methanol from biogas can be beneficial

News: With the advancement in research and the tremendous urge to shift to greener fuels, biogas came back into the picture to supplement the rising global energy demand.

What is Biogas?

Biogas is a renewable fuel produced using the anaerobic digestion process from the organic feedstock. It is primarily composed of methane (50-65%), carbon dioxide (30-40%), hydrogen sulfide (1-2.5%) and a very small fraction of moisture.

What are the subsidiary sustainable transportation fuels one can obtain from biogas?

Biogas can be converted to produce numerous sustainable transportation fuels.

Methane

The removal of unwanted components like carbon dioxide, hydrogen sulphide and moisture from raw biogas yields pure methane (over 97% content). Some of the common methods to purify biogas include water scrubbing, membrane separation, pressure swing adsorption and adsorption.

Compressed biogas (CBG)

Upgraded or high-purity biogas compressed at 250 bar pressure results in a fuel called compressed biogas (CBG). This has properties similar to compressed natural gas (CNG) and could be directly used to power CNG engines.

However, CBG is considered more suitable to power small-sized vehicles, though heavy engines have been used for short-distance driving.

Liquefied biogas (LBG)

It is obtained by liquefying the biogas-derived methane by cooling it at -162 degrees Celsius. It has a higher energy density that lowers the storage space requirements of CBG.

At atmospheric pressure, the energy density of liquid methane is roughly 600 times more than that of gaseous methane and 2.5 times greater than that of methane at 250 bar.

Advantages of LBG: a) LBG has become a viable alternative fuel for heavy-duty road transportation since it has a comparatively high energy density (1 litre of LBG against 2.4 litres of CBG), low sulphur content and lower life cycle greenhouse gas emissions than diesel.

Hydrogen

Gasification of biogas is performed by limiting the amount of oxygen and steam present in the reaction and heating the bio-methane to high temperatures (usually over 600°C). As a result of this process, Syngas a mixture of hydrogen and carbon monoxide is created. The hydrogen produced after the removal of carbon monoxide could be used in fuel cells to generate power.

Methanol

Direct methanol production from biogas is done through methanotrophy or partial oxidation. Methanol is an effective fuel with an octane rating of 100. It emits less particulate matter and NOx than gasoline and doesn’t produce SOx because it doesn’t contain sulphur.

Methanol is more affordable than LNG or marine oils with virtually no SOx or NOx emissions.

How India is promoting biogas?

CBG is the only transportation fuel from biogas for which commercialisation efforts have been made. The government has been encouraging private businesses to set up CBG plants and provide CBG to oil marketing companies for sale as automotive and industrial fuels under the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme.

The scheme has set a goal to produce 15 million tonnes of CBG from 5,000 plants by 2023–24.

What are the challenges in promoting biogas in India?

Currently, LBG, hydrogen and methanol are not produced from biogas in India. This is because,

a) CBG exists in the gaseous form. So, it demands bigger volumes for transportation, b) Unavailability of biogas in bulk for such derivatives, c) There is an absence of infrastructure to generate and market these fuels, d) There is a deficiency of modified automobile engines in India, e) There is a lack of effective research and development push to improve process economics.

Overall renewable sources like biogas could be used to produce numerous fuels but their potential still remains untapped.

Prelims Oriented Articles (Factly)

Genetic Engineering Appraisal Committee approves commercial cultivation of genetically modified mustard yet again

Source: The post is based on the following articles

“Years after Bt cotton, GEAC clears environmental release of GM mustard” published in Business Standard on 26th October 2022

“Understanding GM mustard: what is it, and how has it been achieved?” published in Indian Express on 27th October 2022

“Genetic Engineering Appraisal Committee approves commercial cultivation of genetically modified mustard yet again” published in The Hindu on 27th October 2022

What is the News?

The Genetic Engineering Appraisal Committee(GEAC) has recommended the environmental release of the Genetically Modified(GM) mustard variety DMH (Dhara Mustard Hybrid)-11, paving the way for the commercialisation of the country’s first GM food crop.

What is hybrid mustard?

Hybridisation involves crossing two genetically dissimilar plant varieties that can even be from the same species. The first-generation(F1) offspring from such crosses tend to have higher yields than what either parent can individually give.

Such hybridisation isn’t easy in mustard as its flowers have both female (pistil) and male (stamen) reproductive organs making the plants largely self-pollinating. 

Since the eggs of one plant cannot be fertilized by the pollen grains from another, it limits the scope for developing hybrids — unlike in cotton, maize or tomato where this can be done through simple emasculation or physical removal of anthers.

How was the GM Mustard produced then?

GM mustard was developed by the Centre for Genetic Manipulation of Crop Plants (CGMCP) at Delhi University by genetic modification (GM)

The scientists have deployed the barnase-barstar GM technology to develop DMH-11, containing two alien genes isolated from a soil bacterium called Bacillus amyloliquefaciens.

The barnase gene codes for a protein that impairs pollen production and renders the plant into which it is incorporated male-sterile.

This plant is then crossed with a fertile parental line containing the barstar gene that blocks the action of the barnase gene.

The resultant F1 progeny is both high-yielding and also capable of producing seed/ grain.

Note: DMH-11 was developed by crossing the Indian mustard variety ‘Varuna’ (barnase line) with an East European ‘Early Heera-2’ mutant (barstar).

Why did it take so long for GEAC to clear GM Mustard?

There has been opposition to GM crops in general from several groups. In GM mustard, there have been two specific concerns voiced as well:

The first concern is the presence of a third ‘bar’ gene, which makes GM mustard plants tolerant to the spraying of glufosinate ammonium, a chemical used for killing weeds. Some allege that this will cause displacement of manual labour engaged in weeding by promoting the use of chemical herbicides.

The second concern is over GM mustard threatening or undermining the population of honey bees. Mustard flowers are a source of nectar for honey bees and many other pollinator insects.

ISRO to boost NavIC, widen user base of location system

Source: The post is based on the article “ISRO to boost NavIC, widen user base of location system” published in The Hindu on 27th October 2022

What is the News?

At the India Space Congress, the Indian Space Research Organisation(ISRO) has revealed its plans to expand the reach of NavIC (Navigation with Indian Constellation) beyond India and not to a limited territory around India.

What is NavIC?

Click Here to read

What are the changes NavIC will undergo in future?

Adding L1 band into NavIC: Currently, NavIC is only compatible with the L5 and S bands and hasn’t easily penetrated into the civilian sector.

– ISRO is now planning to add the L1 band into NavIC. This bandwidth is part of the GPS and is the most used for civilian navigational use. 

Increase the safety of signals: There is a Long Code and Short Code. Currently (NavIC) only provides short code. This has to become a Long Code for the use of the strategic sector. This prevents the signal from being breached.

Expand NavIC reach: Currently, NavIC satellites orbit the earth in a geostationary or geosynchronous (GEO) orbit or about 36,000 km from the earth. Its reach is only 1,500 km beyond Indian territory. 

– To make NavIC global, India needs satellites in Medium Earth Orbit(MEO). Hence, ISRO is planning to launch satellites in MEO.

Note: MEO orbits occupy a space between GEO and Low Earth Orbit (LEO) or about 250-2,000 km from earth.

What is India Space Congress (ISC) 2022?

Organized by: SatCom Industry Association(SIAIndia) 

Theme: ‘Leveraging Space to Power Next-Gen Communication & Businesses’.

ISC 2022 is supported by the ISRO, Ministry of Defence, Niti Aayog, In-Space, NewSpace India Ltd (NSIL) and the Department of Telecommunication.

Two more Indian Beaches enter the coveted list of Blue Beaches

Source: The post is based on the article “Two more Indian Beaches enter the coveted list of Blue Beaches” published in PIB on 26th October 2022

What is the News?

Blue Flag Certification has been accorded to two new Indian beaches – Minicoy Thundi Beach and Kadmat Beach- both in Lakshadweep.

This takes the number of beaches from India certified under the Blue Flag certification to twelve (12).

About Thundi Beach: It is one of the most pristine and picturesque beaches in the Lakshadweep archipelago where white sand is lined by the turquoise-blue water of the lagoon. It is a paradise for swimmers and tourists alike. 

About Kadmat Beach: It is especially popular with cruise tourists who visit Lakshadweep for water sports. It is a paradise for nature lovers with its pearl white sand, blue lagoon waters, its moderate climate and friendly locals.

What is Blue Flag Certification?

Click Here to read about it 

AAP wants Lakshmi-Ganesh on currency: who designs rupee notes, and how?

Source: The post is based on the article “AAP wants Lakshmi-Ganesh on currency: who designs rupee notes, and how?” published in Indian Express on 27th October 2022

What is the News?

Delhi Chief Minister has appealed to the Union government to print images of Goddess Lakshmi and Lord Ganesh on new currency notes for the country’s “economic prosperity.

Who decides what Indian banknotes and coins are supposed to look like?

Changes in the design and form of banknotes and coins are decided by the Reserve Bank of India(RBI) and the central government. 

Any change in the design of a currency note has to be approved by the RBI’s Central Board and the central government. Changes in the design of coins are the prerogative of the central government.

What role does the RBI play in issuing notes?

Section 22 of The Reserve Bank of India Act, 1934, gives RBI the “sole right” to issue banknotes in India. 

Section 25 states that the design, form and material of banknotes shall be such as may be approved by the Central Government after consideration of the recommendations made by the [RBI’s] Central Board.

The RBI’s Department of Currency Management has the responsibility of administering the core function of currency management. If the design of a currency note has to change, the Department works on the design and submits it to RBI which recommends it to the central government. The government gives the final approval.

Printing of Currency Notes: Two of India’s currency note printing presses are in Nasik and Dewas. These are owned by the Government of India,

– Two other printing presses are in Mysore and Salboni. These are owned by the RBI through its wholly-owned subsidiary, Bharatiya Reserve Bank Note Mudran Ltd (BRBNML).

What about the Minting of Coins?

The Coinage Act, 2011 gives the central government the power to design and mint coins in various denominations. In the case of coins, the role of the RBI is limited to the distribution of coins that are supplied by the central government.

The government decides on the quantity of coins to be minted on the basis of indents received from the RBI on a yearly basis. 

Coins are minted in four mints owned by the Government of India in Mumbai, Hyderabad, Kolkata and Noida.

What are the types of notes issued so far?

Ashoka Pillar Banknotes: The first banknote issued in independent India was the Re 1 note issued in 1949. It replaced the portrait of King George with the symbol of the Lion Capital of the Ashoka Pillar at Sarnath in the watermark window.

Mahatma Gandhi (MG) Series, 1996: All the banknotes of this series bear the portrait of Mahatma Gandhi on the obverse (front) side, in place of the symbol of the Lion Capital of Ashoka Pillar, which was moved to the left, next to the watermark window. 

Mahatma Gandhi series, 2005: They contain some additional/ new security features as compared to the 1996 MG series.

Mahatma Gandhi (New) Series, 2016: These new notes highlight India’s cultural heritage and scientific achievements. The first banknote from the new series — of Rs 2,000 denomination — was introduced on November 8, 2016, with the theme of Mangalyaan.

Antitrust cases against Google, how regulator decided fine

Source: The post is based on the article “Antitrust cases against Google, how regulator decided fine” published in Indian Express on 27th October 2022

What is the News?

Competition Commission of India(CCI) has fined Google twice — for abusing its dominant position in the market with its Android mobile operating system(OS) and for anti-competitive policies in its in-app billing and payment processing.

Abuse of Dominant Position

The Competition Commission of India(CCI) is empowered under the Competition Act, 2002 to check whether companies, especially large tech companies are not eliminating healthy competition in the market and creating a monopoly.

Section 4 of the Competition Act prohibits abuse of the dominant position of an enterprise in the market. 

“Dominant position” means a position of strength enjoyed by an enterprise in the “relevant market” in India, which enables it to operate independently of competitive forces prevailing in the relevant market; or affect its competitors or consumers or the relevant market in its favour.

How is the penalty decided by CCI?

Under Section 27 of the Competition Act, CCI has the power to impose such a penalty as it may deem fit which shall be not more than 10% of the average turnover for the last three preceding financial years upon each of such persons or enterprises which are parties to such agreements or abuse.

In 2014, the Supreme Court ruled that the penalty should be imposed not on the “total/ entire turnover of the offending company” but on “relevant turnover”.

In a first, UNSC’s Counter Terrorism Committee to meet in India this week

Source: The post is based on the article “In a first, UNSC’s Counter Terrorism Committee to meet in India this week” published in Indian Express on 27th October 2022

What is the News?

India is hosting a special meeting of the United Nations Security Council’s Counter Terrorism Committee(CTC).

What is Counter-Terrorism Committee(CTC)?

The Counter-Terrorism Committee(CTC) was established by the UN Security Council resolution 1373 (2001), which was adopted unanimously on 28th September 2001 in the wake of the 11 September terrorist attacks in the United States.

Mandate: The Committee comprising all 15 Security Council members were tasked with monitoring the implementation of resolution 1373 (2001) which requested countries to implement a number of measures intended to enhance their legal and institutional ability to counterterrorist activities at home, in their regions and around the world.

– The resolution also calls on States to become parties, as soon as possible, to the relevant international counter-terrorism legal instruments. 

Chaired by: The Permanent Representative of India to the UN currently serves as the Chair of the CTC for 2022.

What is the purpose of the UNSC Counter Terrorism Committee(CTC) meeting in India?

UNSC Counter Terrorism Committee(CTC) will discuss the overarching theme of ‘Countering the use of new and emerging technologies for terrorist purposes’. 

The panel will also discuss terror financing through crypto-currency and the use of drones in new-age terrorism.

This will be the first such meeting of the UNSC-CTC in India since its establishment in 2001.

Bats evicted from prehistoric Manipur cave for tourism: Study

Source: The post is based on the article “Bats evicted from prehistoric Manipur cave for tourism: Study” published in The Hindu on 27th October 2022

What is the News?

According to a study by researchers, a colony of bats were evicted from Khangkhui cave in Manipur to make it tourist-friendly.

About Khangkhui Cave

Khangkhui is a natural limestone cave about 15 km from Ukhrul, the headquarters of Ukhrul district in Manipur.

Excavations carried out by Manipur’s archaeologists had revealed the cave was home to Stone Age communities.

The cave was also used as a shelter by the local people during World War 2 after the Japanese forces advanced to Manipur and the adjoining Nagaland. 

About the study

Khangkhui Cave housed large populations of bats belonging to the Rhinolophidae and Hipposideridae families.

However, these bats were killed and evicted from the Khangkhui cave after 2016-17 purportedly to make it “more tourist-friendly”. 

But the divisional Forest Officer of the area denied any such killing of bats.

After 5G, here’s how Ambani will use financial services to tighten DNA loop

Source: The post is based on the article “After 5G, here’s how Ambani will use financial services to tighten DNA loop” published in Business Standard on 26th October 2022

What is the News?

Reliance is planning to enter into the Financial Services market. It will use the self-reinforcing DNA Loop model to dominate the market.

What is DNA Loop?

The business model of big techs rests on enabling direct interactions among a large number of users.

An essential by-product of their business is the stock of user data. The data are then utilized as input to offer a range of services that exploit natural network effects, generating further user activity. Increased user activity then completes the circle, as it generates yet more data. This has been called as “data-network-activities” loop – or the “DNA” loop. 

The DNA loop is self-reinforcing. More data generates stronger network effects, which elicit more activity, leading to yet more data. This means that big tech firms with an established platform have an advantage when they venture into financial services. 

The source of their competitive advantage depends on the nature of their existing platform. 

For instance, big techs with e-commerce platforms collect data from the activity of sellers and buyers and can combine them with financial and consumer habit information. These can be valuable input into credit scoring models, especially for loans to small and medium-sized enterprises (SMEs) and consumer loans. 

New technology for retrofitting non-earthquake-resistant buildings can prevent major damage in old settlement

Source: The post is based on the article “New technology for retrofitting non-earthquake-resistant buildings can prevent major damage in old settlement” published in PIB on 26th October 2022

What is the News?

Researchers have found a solution for retrofitting old non-earthquake-resistant buildings with a technology that can prevent major damage to such buildings from earthquakes without compromising their strength.

Background

Historically, most buildings technically called unreinforced masonry(URM) were not built using modern building codes. 

URM buildings have traditionally been widely adopted worldwide due to inexpensive and locally available construction materials.

Just like in most developing countries located in earthquake-prone regions, unreinforced brick masonry(URBM) has been a common practice in urban, semi-urban and rural areas of India.

These buildings are much more likely to experience damage or collapse during an earthquake.

What has been developed by the researchers now?

Researchers from the Indian Institute of Technology, Kanpur have developed a technology called semi-confined unreinforced brick masonry(SC-URBM).

The technology can resolve the problem of the spread of settlements in earthquake-prone areas with constructions that have been built without following earthquake-preventive building codes.

Researchers found that SC-URBM can significantly enhance the energy dissipation capacity and ductility of the retrofitted building without compromising its strength.

Hence, such buildings would have superior performance in comparison to URBM buildings during earthquakes.

Explained | The FM’s call for industrial investment

Source: The post is based on the article “Explained | The FM’s call for industrial investment” published in The Hindu on 27th October 2022

What is the News?

The Finance Minister has recently asked captains of the industry what was holding them back from investing in manufacturing. 

Why did the Finance Minister say about industrial investment?

The Finance Minister said that she could not see any investments happening at the pace she would have liked.

In the hope of revitalizing private investment, the government had in September 2019 cut the tax rate for domestic companies from 30% to 22% if they stopped availing of any other tax SOP (standard operating procedure).

Why there is a slow pace in industrial investment?

According to experts, capital expenditure by the government is a precursor to private investment, but it would take a sustained trend in public spending, for about half a decade at least, to help kindle enthusiasm in the private sector. 

While the government’s intent to spend aggressively on infrastructure in its Budget for this fiscal is encouraging. But this cycle should have started a few years ago.

What is consumer sentiment?

Private companies invest when they are able to estimate profits, and that comes from demand.

The Centre for Monitoring Indian Economy’s (CMIE) consumer sentiment index is still below pre-pandemic levels but is far higher than what was seen 12-18 months ago.

Other Terms mentioned in the article

Gross Fixed Capital Formation(GFCF): As per RBI, Gross capital formation refers to the ‘aggregate of gross additions to fixed assets (that is fixed capital formation) plus change in stocks during the counting period.’Fixed asset refers to the construction, machinery and equipment.

Private final consumption expenditure(PFCE): It is defined as the expenditure incurred by the resident households and non-profit institutions serving households(NPISH) on the final consumption of goods and services whether made within or outside the economic territory.

Index of Industrial Production(IIP)

Balance required between people’s safety, animal rights: SC on stray dog menace

Source: The post is based on the following articles

“Balance required between people’s safety, animal rights: SC on stray dog menace” published in Livemint on 10^th September 2022.

“Dog dilemma: Awareness key to curb stray dog menace, say experts after baby mauled in Noida” published in Indian Express on 18^th October 2022.

What is the News?

While hearing about the issue of the stray dog menace, the Supreme Court of India has recently said that a balance has to be maintained between the safety of people and animal rights.

About the issue of the stray dog menace and the case

According to Lok Sabha data, Delhi has 60,472 stray dogs as of 2019. According to the Animal Husbandry ministry, there were at least 1.53 crore dogs in the streets of India till 2019.

According to a private report, every day 100 to 150 cases of dog bites cases come in Delhi.

The apex court has been hearing a batch of petitions on issues relating to orders passed by various civic bodies on the culling of stray dogs which have become a menace, especially in Kerala and Mumbai.

Some NGOs and individual petitioners have moved the apex court against the decisions by the Bombay High Court and Kerala High Court. They demanded them to allow municipal authorities to deal with the stray dogs menace as per the rules.

What are the recommendations of the court on the stray dog menace?

The Supreme Court said that a rational solution is required to address the stray dog issue.

This issue raises a fundamental issue regarding the rights of wild animals within the society dominated by human beings in general and within the framework of the Constitution of India in particular.

Recommendation of court: People who feed stray dogs could be made responsible for vaccinating them and bearing costs if somebody is attacked by the animal.

What is the existing rule on Animal Birth Control?

The Animal Birth Control (Dogs) Rules 2001: It is an existing guideline to manage the population of strays. But the rules do not talk about the issues of feeding dogs and how disputes over dog bites must be resolved.

Draft Animal Birth Control Rules, 2022: To resolve the disputes over dog bites the Centre earlier this year proposed these rules. Once finalised, these rules will replace the existing ones framed in 2001.

The key features of these rules are, a) Prescribe procedures for the immunisation, vaccination and sterilisation of dogs, b) Proposes the formation of monitoring committees that will take steps to limit the population of strays in an area through animal birth control programmes, c) An animal helpline will be set up by local authorities to resolve complaints of dog bites, d) Address the role of resident welfare associations (RWAs) to end frequent conflicts between dog feeders and other residents.