{"id":16220,"date":"2018-02-24T13:00:01","date_gmt":"2018-02-24T07:30:01","guid":{"rendered":"http:\/\/blog.forumias.com\/?p=16220"},"modified":"2018-02-22T17:18:40","modified_gmt":"2018-02-22T11:48:40","slug":"answers-mains-marathon-upsc-mains-current-affairs-questions-february-23-2018","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/answers-mains-marathon-upsc-mains-current-affairs-questions-february-23-2018\/","title":{"rendered":"Answers: Mains Marathon \u2013 UPSC Mains Current Affairs Questions \u2013 February 23, 2018"},"content":{"rendered":"<p><strong><a href=\"http:\/\/blog.forumias.com\/mains-marathon\/\" target=\"_blank\" rel=\"noopener\">Archives<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Q.1) In the light of the recent Punjab National Bank fraud case explain how blockchain technology can prevent such types of frauds in banking sector. Is there any limitations associated with it?(GS-3)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, PNB found that the SWIFT system had been misused by junior-level branch officials, who had fraudulently issued letters of undertaking (LoUs) on behalf of some companies for availing buyer\u2019s credit from overseas branches of Indian banks.<\/span><\/p>\n<p><b>How the technology like blockchain can prevent frauds like PNB?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The <\/span><b>adoption of blockchain<\/b><span style=\"font-weight: 400;\"> by India\u2019s banks could help avert frauds such as the one at Punjab National Bank.<\/span><\/li>\n<\/ul>\n<p><b>Implications of the Blockchain technology:<\/b><\/p>\n<p><b>Positive aspects:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Blockchain potentially has far-reaching implications for the financial sector, and this is prompting more and more banks, insurers and other financial institutions to invest in research into potential applications of this technology.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The RBI\u2019s Working Group on FinTech and Digital Banking in a report highlighted that \u201cMarket participants in other securities markets are exploring the usage of blockchain or distributed database technology to provide various services such as clearing and settlement, trading.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Blockchain utility have potential to improve internal fraud monitoring.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> \u00a0Blockchain would ensure easy tracking of entries.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> If the LoUs were on the blockhain, then they would have been there for everybody to see, and every entry into the chain leaves a clear record of who made that entry, and where.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Blockchains are immutable and distributed ledgers, which means that anything recorded on them cannot be changed or deleted, and is instantly uploaded to all users on that blockchain.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Through blockchain\u2019s technology is such that even human error can be greatly mitigated. Blockchain can fix this by having everything linked to the same database.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Blockchain helps in decentralized system where one need multiple branches to give their approval before any sort of transaction is approved or an LoU is issued.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Another big challenge that blockchain can address is providing a basis for the trust banks have in each other, thereby preventing such frauds from taking place.<\/span><\/li>\n<\/ul>\n<p><b>Limitations of blockchain technology:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>In mature:<\/b><span style=\"font-weight: 400;\"> Blockchain technologies aren\u2019t mature yet. They are developing and evolving every day. \u00a0A lot of products that are being developed as a POC on a Blockchain aren\u2019t even Blockchain secure.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Lack of technical understanding:<\/b><span style=\"font-weight: 400;\"> There is not much understanding of the Blockchain technologies and the advantages they provide over existing technologies. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are certain barriers which limit blockchain technology unusable for mainstream applications. They include<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">1- \u00a0<\/span><b>Limited Scalability<\/b><b>:<\/b><span style=\"font-weight: 400;\"> Blockchains like Bitcoin, Ethereum have consensus mechanisms which require every participating node to verify transaction. This limits the total number of transactions a blockchain network can process. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">2- \u00a0<\/span><b>Privacy:<\/b> <span style=\"font-weight: 400;\">In case of public Blockchains, transactions on blockchains might appear private since it is not directly tied to your identity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">3- <\/span><b>Access to external data:<\/b><span style=\"font-weight: 400;\"> Blockchain services cannot inherently make arbitrary network requests to access data outside the network. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">4- <\/span><b>Unavoidable security flaws: <\/b><span style=\"font-weight: 400;\">There is one notable security flaw in Bitcoin and other Blockchains, if more than half of the computers working as nodes to service the network tell a lie, the lie will become the truth. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">5- The number of transactions on the network is an existing limit which has caused a lot of heated debate recently. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Q.2)<\/span><span style=\"font-weight: 400;\">In purely bilateral terms, Iranian President Hassan Rouhani\u2019s visit to India was pitch perfect in content. In this context, discuss the major takeaways from his visit to India.(GS-2)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In bilateral terms, Iranian President Hassan Rouhani\u2019s visit to India was <\/span><b>perfect in content.<\/b><\/p>\n<p><b>Major takeaways from Iranian President Hassan Rouhani\u2019s visit to India:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The visit came amid uncertainty over the U.S.\u2019s next move on Iran, given the T<\/span><b>rump administration\u2019s line on the Iran nuclear deal.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">After his meeting with Prime Minister Narendra Modi, India and Iran <\/span><b>signed agreements and memorandums of understanding <\/b><span style=\"font-weight: 400;\">on a wide variety of issues.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Among the announcements was the decision to <\/span><b>award India the contract to operate the ChabaharShahid Beheshti port<\/b><span style=\"font-weight: 400;\"> terminal after the project is completed.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>No announcement <\/b><span style=\"font-weight: 400;\">was made on the <\/span><b>Farzad-B gas field <\/b><span style=\"font-weight: 400;\">that India has expressed an interest in, the joint statement indicates that positive deliberations may follow.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There were discussions on <\/span><b>enhancing trade and investment and<\/b> <b>ease of doing business <\/b><span style=\"font-weight: 400;\">between India and Iran.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The discussion also included a <\/span><b>double taxation avoidance agreement <\/b><span style=\"font-weight: 400;\">and an expert group to recommend trade remedy measures.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India announced that it would allow <\/span><b>Indian investment in Iran<\/b><span style=\"font-weight: 400;\"> to be done in <\/span><b>rupee<\/b> <b>terms<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The two leaders also drew broad strokes highlighting the <\/span><b>importance<\/b> <b>of<\/b> <b>bilateral<\/b> <b>ties<\/b><span style=\"font-weight: 400;\"> between the two countries, stressing the strategic imperative for their growth.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Iran endorsed India\u2019s <\/span><b>bid for a permanent seat at the UN Security Council <\/b><span style=\"font-weight: 400;\">with the veto, and praised India as a \u201cliving museum of religious diversity\u201d.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The joint statement issued contained tough language on the <\/span><b>\u201csanctuaries for terrorism\u201d,<\/b><span style=\"font-weight: 400;\"> an issue important to both countries.<\/span><\/li>\n<\/ul>\n<p><b>Conclusion:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It will be important to see what, if any, implications the Indian overtures would have on <\/span><b>India\u2019s ties with the U.S. and its recently upgraded relations with Israel.<\/b><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, it is crucial that India maintain a <\/span><b>steady course on its strategic interests with Iran<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Q.3)Write a short note on \u00a0any two of the following :<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">a) National Urban Housing Fund (GS 3)<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">b) Operation Greens(GS 3)<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> c) \u00a0Kambala(GS )<\/span><b><br \/>\n<\/b><b><\/b><\/p>\n<p><b>National Urban Housing Fund <\/b><b><br \/>\n<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Union Cabinet has given approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NUHF will facilitate raising requisite funds in next four years so that flow of Central Assistance under different verticals i.e. Beneficiary Linked Construction (BLC), Affordable Housing in Parternership (AHP), In-Situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS) is sustained and construction of houses to address the gap in Urban Sector progresses smoothly.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body registered under the Societies Registration Act, 1860 under the Ministry of Housing and Urban Affairs.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>Operation Greens<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Operation Greens aims to promote farmer producers organisations, agri-logistics, processing facilities and professional management. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The operation aims to aid farmers and help control and limit the erratic fluctuations in the prices of onions, potatoes and tomatoes. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It was announced by Finance Minister Arun Jaitley in his budget speech.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The government recently interacted with the stakeholders including Farmer Producer Organisations and farmers, to gather input on their concerns and suggestions thereof on the modalities of Operation Greens.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>Significance of Operation greens:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Operation Green (OG) wants to replicate the success story of Operation Flood, in fruits and vegetables, starting with three basic vegetables\u2014tomatoes, onions and potatoes (TOP).<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The main objective of OG is to reduce price volatility in these commodities, and thereby helping farmers augment incomes on a sustainable basis, as also provide these basic vegetables to consumers at affordable prices<\/span><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><b>Kambala:<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Kambla in its traditional form is non-competitive with buffalo pairs made to race one after another in paddy fields, which is considered a thanksgiving to the Gods for protecting the animals from diseases.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">President Ram Nath Kovind has approved the Prevention of Cruelty to Animals (Karnataka Amendment) Bill making Kambala a legal rural sport in Karnataka. With this, all apprehensions and obstacles that were preventing kambala have been cleared.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Karnataka government had promulgated Prevention of Cruelty to Animals (Karnataka Amendment) Ordinance, 2017 on July 20 last year. The Bill seeks to exempt kambala and bullock-cart racing from the ambit of the Prevention of Cruelty to Animals (PCA) Act, 1960.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Over the years, it has however become an organised sport with animal rights activists claiming that the buffaloes run in the race due to fear of being beaten, which the organizers dismiss, saying no violence is involved and that several modifications had been made to ensure that it is an animal friendly event.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Archives Q.1) In the light of the recent Punjab National Bank fraud case explain how blockchain technology can prevent such types of frauds in banking sector. Is there any limitations associated with it?(GS-3) Recently, PNB found that the SWIFT system had been misused by junior-level branch officials, who had fraudulently issued letters of undertaking (LoUs)&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/answers-mains-marathon-upsc-mains-current-affairs-questions-february-23-2018\/\">Continue reading <span class=\"screen-reader-text\">Answers: Mains Marathon \u2013 UPSC Mains Current Affairs Questions \u2013 February 23, 2018<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":2292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[25,9],"tags":[],"class_list":["post-16220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mains-marathon-answers","category-public","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2017\/06\/pen-paper-laptop.jpg?fit=1000%2C500&ssl=1","views":{"total":0,"cached_at":"","cached_date":1704742078},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/16220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=16220"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/16220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/2292"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=16220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=16220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=16220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}