{"id":78422,"date":"2021-01-25T21:00:15","date_gmt":"2021-01-25T15:30:15","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=78422"},"modified":"2021-01-27T15:33:37","modified_gmt":"2021-01-27T10:03:37","slug":"9-pm-daily-current-affairs-brief-january-25-2021","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/9-pm-daily-current-affairs-brief-january-25-2021\/","title":{"rendered":"9 PM Daily Current Affairs Brief \u2013 January 25, 2021"},"content":{"rendered":"<p>Good evening dear reader<\/p>\n<p>Here is our 9pm current affairs brief for you today<\/p>\n<div class=\"content-box-blue\">\r\n<p><strong>About 9 PM Brief<\/strong>- With the <span style=\"color: #000000;\">9 PM Daily Current affairs for UPSC brief we intend<\/span> to simplify the newspaper reading experience. In 9PM briefs, we provide our reader with a summary of all the important articles and editorials from three important newspapers namely The Hindu, Indian Express, and Livemint. This will provide you with analysis, broad coverage, and factual information from a Mains examination point of view.<\/p>\r\n<p><strong>About Factly<\/strong>- The Factly initiative covers all the daily news articles regarding Preliminary examination. This will be provided at the end of the 9 PM Brief.<\/p>\r\n<p>Dear Aspirants,<\/p>\r\n<p>We know for a fact that learning without evaluation is a wasted effort. Therefore, we request you to please go through both our initiatives i.e 9PM Briefs and Factly, then evaluate yourself through the 10PM Current Affairs Quiz.<\/p>\r\n<p>We plan to integrate all our free daily initiatives to comprehensively support your success journey.<br \/><strong>Happy Learning!<\/strong><\/p>\r\n<\/div>\n<p>List of 9 PM Articles<\/p>\n<h5><strong>List of 9 PM Articles<\/strong><\/h5>\n<ul>\n<li><strong>World Economic Forum: Need for \u2018the Great Reset\u2019 of capitalism<\/strong><\/li>\n<li><strong>Reasons for increasing Palk Bay fishing conflict<\/strong><\/li>\n<li><strong>Need for New 4-tier Regulations for NBFCs<\/strong><\/li>\n<li><strong>COVID Vaccine and Science, Technology, and Innovation Policy (STIP), 2020<\/strong><\/li>\n<\/ul>\n<hr \/>\n<h3 class=\"note1\"><a href=\"https:\/\/forumias.com\/blog\/world-economic-forum-need-for-the-great-reset-of-capitalism\/\" target=\"_blank\" rel=\"noopener noreferrer\">World Economic Forum: Need for \u2018the Great Reset\u2019 of capitalism<\/a><\/h3>\n<p>Source:<a href=\"https:\/\/indianexpress.com\/article\/opinion\/columns\/reforming-capitalism-world-economic-forum-2021-7160209\/\" target=\"_blank\" rel=\"noopener noreferrer\"> Indian Express<\/a><\/p>\n<blockquote><p>GS-2: Important International Institutions, agencies, and fora\u00a0 &#8211; their Structure, Mandate<\/p><\/blockquote>\n<p><strong>Synopsis: WEF&#8217;s executive chairman Klaus Schwab is advocating <\/strong>for rearrangement of the global order through \u201cThe Great Reset\u201d. India should also take this development seriously and try to limit the potential implications of this possible global reset.<\/p>\n<p><strong>Background<\/strong><\/p>\n<ul>\n<li>The WEF&#8217;s (<strong>World Economic Forum)<\/strong>\u00a0online\u00a0 Summit began recently. Its physical meeting is scheduled to take place in Singapore in June 2021. It is only the second time after 2002 that Davos annual meeting is taking place outside Davos.<\/li>\n<li>Choosing Singapore instead of any European or American city is a symbol of shifting focus on Asia.<\/li>\n<li>In this context, the World Economic Forum\u2019s initiative for <strong>\u201cThe Great Reset\u201d<\/strong> has gained attention.<\/li>\n<li>In this article, we will discuss what is &#8220;Great Reset&#8221; and what are the key changes suggested by the &#8220;Great Reset&#8221; initiative, and how India should plan for it?<\/li>\n<\/ul>\n<p><strong>What is &#8220;The Great Reset\u201d?<\/strong><\/p>\n<ul>\n<li>The concept has been given by the founder and executive chairman of the WEF- <strong>Klaus Schwab<\/strong>.<\/li>\n<li><strong>The concept is developed, based on the assessment<\/strong> that the world economy is in deep trouble. Events like the <strong>pandemic<\/strong>, ongoing <strong>technological revolution<\/strong>, impacts of <strong>climate change<\/strong> have further worsened the global situation.<\/li>\n<li>Hence, <strong>the concept of\u00a0 &#8220;The Great Reset<\/strong>&#8221; suggests, there is an urgent need to reform global societies and economies. Reforms should be brought into every industry of the world and every country should participate in it.<\/li>\n<li>This initiative will mainly focus on reforming<strong> market-led Capitalism into stakeholder capitalism<\/strong>. Which will be focussed on ensuring equality and sustainability.<\/li>\n<\/ul>\n<p><strong>Why the &#8220;Great Reset&#8221; initiative is a step in the right direction?<\/strong><\/p>\n<p><strong>Firstly,<\/strong> economic reforms like deregulation and globalization reduced barriers to capital movement within the countries. Now it is being challenged even in a country like the US.<\/p>\n<p><strong>Secondly,<\/strong> US and EU countries failed in dealing with the COVID pandemic and its economic impacts. Whereas Asian Countries handled it effectively. It magnifies the failure of the Capitalism model of these countries.<\/p>\n<p><strong>How focus areas of The Great Reset&#8217; are relevant for the present world?<\/strong><\/p>\n<p>The agenda of <strong>The Great Reset<\/strong> focuses on many key issues faced by the world today. Three important themes among them are,<\/p>\n<ul>\n<li><strong>First,<\/strong> serious thinking on moving from capitalism to \u201c<strong>stakeholder capitalism<\/strong>\u201d. Because\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong>One,<\/strong> capitalism&#8217;s lack of concern for stakeholders\/society&#8217;s interests and its greed for <strong>profit maximization<\/strong>. <strong>For example<\/strong>,\u00a0Tech giants who are the big beneficiaries of deregulation pay few taxes and actively depress wages for working people.<\/li>\n<li><strong>Two,<\/strong> their increasing power to influence the governments is a cause of concern.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>Second,<\/strong> with the US rejoining the 2015 <strong>Paris accord<\/strong> on mitigating climate change. Now, the focus needs to shift on equal distribution of economic and social costs of moving away from carbon use.<strong>\u00a0<\/strong><\/li>\n<li><strong>Third, the <\/strong>Liberalism of the &#8217;90s resulted in increasing conflicts among nations and resulted in present <strong>\u201ccompetitive multilateralism\u201d<\/strong><strong>. T<\/strong>he forum will focus on global cooperation on important universal issues<strong>.<\/strong><\/li>\n<\/ul>\n<p><strong>Way forward for India<\/strong><\/p>\n<p>Rearrangement of the global order looks inevitable<strong>. India should prepare for changes <\/strong>that will be introduced due to it<strong>;<\/strong><\/p>\n<ul>\n<li>India must actively contribute to the framing of new rules to govern global capitalism and the <strong>reshaping of international institutions.<\/strong><\/li>\n<li>Simultaneously, we must also reform our own economy and society to make it more <strong>equitable, sustainable<\/strong>.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<h3 class=\"note1\"><a href=\"https:\/\/forumias.com\/blog\/palk-bay-fishing-conflict\/\" target=\"_blank\" rel=\"noopener noreferrer\">Reasons for increasing Palk Bay fishing conflict<\/a><\/h3>\n<p>Source: <a href=\"https:\/\/www.thehindu.com\/opinion\/editorial\/troubled-waters-the-hindu-editorial-on-palk-bay-fishing-conflict\/article33651445.ece\" target=\"_blank\" rel=\"noopener noreferrer\">The Hindu<\/a><\/p>\n<p>Gs2: India and its Neighborhood- Relations.<\/p>\n<p><strong>Synopsis:<\/strong> The recent death of 4 fishermen resurfaces the unresolved issue of fisheries conflict between India-Sri Lanka at Palk Bay.<\/p>\n<p><strong>Background:<\/strong><\/p>\n<ul>\n<li>Recently four fishermen from Tamil Nadu died while fishing in <strong>Palk Bay<\/strong>.<\/li>\n<li>Tamil Nadu has accused Sri Lankan Navy of that. But, the Sri Lankan navy maintains that they died when their trawler collided with a naval vessel while trying to avoid arrest.<\/li>\n<li>The timing of the incident signifies the sensitivity of this issue. As recently, after a three-year gap, India and Sri Lanka have resumed their discussion on fisheries through a <strong>Joint Working Group (JWG).<\/strong><\/li>\n<li>In JWG, India demanded the early release of fishermen and the boats in Sri Lankan custody. On the other hand, Sri Lanka demanded to curb illegal fishing by Indian fishermen, which has adversely affected the livelihood of its fishermen.<\/li>\n<li>India has registered its strong protest against these deaths.<\/li>\n<\/ul>\n<p><strong>Why the conflict has not been resolved yet?<\/strong><\/p>\n<p>There are many reasons for the continuance of the conflict. They are,<\/p>\n<ul>\n<li><strong>Failure in implementing joint working group resolutions: <\/strong>Earlier both sides agreed for no violence or loss of life while handling the fishermen. A hotline was <strong>established <\/strong>between the respective Coast Guards for that.\u00a0 However, the proposed <strong>hotline<\/strong> has not been operationalized yet.<\/li>\n<li><strong>Alternate solutions failed<\/strong>: The plan to replace Tamil Nadu fishermen trawlers with <strong>deep-sea fishing vessels<\/strong> has not been successful.<\/li>\n<li><strong>Failure of Direct talks:<\/strong> Attempts to negotiate a settlement through direct talks between fishermen from both sides have also failed.<\/li>\n<li><strong>Inability to find a common ground<\/strong>: Sri Lanka favors an immediate <strong>ban on unsustainable fishing practices<\/strong> such as <strong>bottom trawling.\u00a0<\/strong> While Tamil Nadu fishermen want a lengthy <strong>phase-out period for the same<\/strong>.<\/li>\n<li><strong>Insensitivity of Tamil Nadu Political leaders.<\/strong> Political leaders in Tamil Nadu fail to acknowledge that incursion into Sri Lankan waters by the State\u2019s fishermen contribute immensely to the problem.<\/li>\n<\/ul>\n<p>A comprehensive solution to end this conflict is to <strong>ban unauthorized fishing. It should be followed by the <\/strong>facilitation of <strong>sustainable use of resources<\/strong> by fishermen from both sides<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3 class=\"note1\"><a href=\"https:\/\/forumias.com\/blog\/need-for-new-4-tier-regulations-for-nbfcs\/\" target=\"_blank\" rel=\"noopener noreferrer\">Need for New 4-tier Regulations for NBFCs<\/a><\/h3>\n<p><b>Source: <\/b><a href=\"https:\/\/epaper.thehindu.com\/Home\/ShareArticle?OrgId=GFE87268N.1&amp;imageview=0\"><span style=\"font-weight: 400;\">click here<\/span><\/a><\/p>\n<blockquote><p><b>Syllabus: <\/b><span style=\"font-weight: 400;\">GS 3<\/span><\/p><\/blockquote>\n<p><b>Synopsis: <\/b><span style=\"font-weight: 400;\">The RBI\u2019s plan to tighten regulations on large NBFCs is critical for financial stability.<\/span><\/p>\n<p><b>Introduction\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The RBI has planned an important change in its regulatory approach towards India\u2019s non-banking financial companies (NBFCs). It plans to monitor larger NBFCs almost as closely as it monitors banks.<\/span><\/p>\n<p>Read &#8211;<a href=\"https:\/\/forumias.com\/blog\/4-tier-structure-for-regulation-of-nbfcs\/\"> 4-tier structure for regulation of NBFCs| ForumIAS Blog<\/a><\/p>\n<p><b>What was the need for a change in the regulatory framework?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>\u00a0The size of NBFC has increased from just about 12% of banks in 2010, to a quarter of the banking sector.<\/b><\/li>\n<li>The growth has been facilitated by the lighter regulations on sourcing funds from home loans to micro-finance and large infrastructure projects.<\/li>\n<li style=\"font-weight: 400;\"><b>However, These lighter regulations revealed a systematic risk<\/b><span style=\"font-weight: 400;\">. For instance, IL&amp;FS\u2019s payment defaults resulted in a large scale economic crisis in 2018.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>What is RBI\u2019s proposed regulatory structure?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The RBI has introduced a four-tiered regulatory structure. By this, RBI is striking a balance between the need for low regulations and less systemic risks in the sector.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>First,<\/b><span style=\"font-weight: 400;\"> For smaller NBFCs, regulations are light, on the basis of a largely \u2018let it go\u2019 approach.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Second,<\/b><span style=\"font-weight: 400;\"> For the largest NBFCs, it is imposing tougher \u2018bank-like\u2019 capitalization, governance, and monitoring norms. It is with an aim to reduce a systemic risk due to the nature of their operations.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><b>Third,<\/b><span style=\"font-weight: 400;\"> the top tier will be activated only when a certain large player poses \u2018extreme risks\u2019. NBFC categorized in this tier will face the toughest regulations.<\/span><\/li>\n<\/ul>\n<p><b>Way forward<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The banking sector is in despair over the past two years (PMC Bank, Yes Bank, Lakshmi Vilas Bank). Thus, a complete restart of the omission tool for NBFCs is critical to keep the confidence and maintain financial stability.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It is hoped that the plan for the regulation of NBFCs is official soon. This would ensure the new economic recovery is not hampered by funding constraints.<\/span><\/li>\n<\/ul>\n<hr \/>\n<h3 class=\"note1\"><a href=\"https:\/\/forumias.com\/blog\/covid-vaccine-and-science-technology-and-innovation-policy-stip-2020\/\" target=\"_blank\" rel=\"noopener noreferrer\">COVID Vaccine and Science, Technology, and Innovation Policy (STIP), 2020<\/a><\/h3>\n<p><span style=\"font-size: 12pt;\"><strong>Source: <\/strong><a href=\"https:\/\/indianexpress.com\/article\/opinion\/columns\/coronavirus-vaccine-covid-astrazeneca-cdsco-7160179\/\"><strong>Click here<\/strong><\/a><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Syllabus:\u00a0 GS 2 &#8211; <\/strong>Issues relating to development and management of Social Sector\/Services relating to Health, Education and Human Resources.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Synopsis: <\/strong>The hasty <strong>Emergency Use Authorization (EUA) <\/strong>to the two COVID-19 vaccines is against draft <strong>Science, Technology, and Innovation Policy (STIP)<\/strong> 2020.\u00a0<\/span><\/p>\n<p><strong>Introduction<\/strong><\/p>\n<p>Open Science principle is a global movement. It advocates steps against unethical practices such as fabrication and falsification of data, plagiarism, unethical authorship, etc.<\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Science, Technology, and Innovation Policy (STIP), 2020<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">The Government has prepared a draft of the <strong>Science, Technology, and Innovation Policy (STIP)<\/strong> in December 2020 based on the principle of \u201c<strong>Open Science<\/strong>\u201d.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>To implement &#8216;Open Science&#8217; principles,<\/strong><\/span><span style=\"font-size: 12pt;\">\u00a0STIP, 2020 provides for the following provisions:<\/span><\/p>\n<ol>\n<li><span style=\"font-size: 12pt;\"><strong>First, creation of Open Science Framework:<\/strong> It will provide everyone with access to scientific data, information, knowledge, and resources.\u00a0<\/span><\/li>\n<li><span style=\"font-size: 12pt;\"><strong>Second, FAIR (findable, accessible, interoperable, and reusable) terms:<\/strong> Under FAIR terms, all data of publicly funded research will be available to everyone.<\/span><\/li>\n<\/ol>\n<p>However, EUA to 2 vaccine candidates without efficacy data is not consistent with this policy of the government.<\/p>\n<p><strong>Read<\/strong> &#8211; <a href=\"https:\/\/forumias.com\/blog\/dst-releases-draft-5th-national-science-technology-and-innovation-policy-for-public-consultation\/\">DST releases Draft 5th National Science, Technology and Innovation Policy (forumias.com)<\/a><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>What are the two first vaccine candidates?<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>First, Covishield: <\/strong>It is developed by AstraZeneca and Oxford University. It is manufactured by the Pune-based Serum Institute in India. The overall efficacy of the vaccine:<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Major concerns on this Vaccine are 1. <\/strong><\/span><span style=\"font-size: 12pt;\">Limited ethnicity data in the present trials and 2. The a<\/span><span style=\"font-size: 12pt;\">bsence of results on elderly people above the age of 55.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Second, Covaxin: <\/strong>It is developed by Hyderabad based Bharat Biotech in collaboration with the Indian Council of Medical Research (ICMR). EUA was provided to vaccine while It was undergoing Phase III trials.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Research on these vaccines was public-funded research. The ICMR funded the clinical trial site fees for Covishield and collaborated in the development of Covaxin. Thus, these vaccines fall under the scope of the draft STIP 2020. So all data on these vaccines must have been available publicly.\u00a0<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>What are the implications of non-transparency?<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\"><strong>First,<\/strong> It may result in erosion of public trust in science and scientist.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\"><strong>Second,<\/strong> It hampers the Self-critical and self-correcting nature of science. It includes scientists analysing the data available on new researches.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\"><strong>Way Forward\u00a0 <\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">The government should implement STIP 2020 on a priority basis. It should make the data across the different stages of COVID-19 vaccine research public on ICMR\u2019s open access repository, the Department of Science and Technology, or other open access repositories identified by the CSIR.<\/span><\/p>\n<h3>Daily Factly Articles \u2013 25Jan. 2021<a id=\"note1\"><\/a><\/h3>\n<blockquote class=\"wp-embedded-content\" data-secret=\"1YKicKPxgf\"><p><a href=\"https:\/\/forumias.com\/blog\/factly-news-articles-for-upsc-prelims-jan-252021\/\">Factly :-News Articles For UPSC Prelims | Jan 25,2021<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Factly :-News Articles For UPSC Prelims | Jan 25,2021&#8221; &#8212; Free UPSC IAS Preparation For Aspirants\" src=\"https:\/\/forumias.com\/blog\/factly-news-articles-for-upsc-prelims-jan-252021\/embed\/#?secret=9Z241Io7nS#?secret=1YKicKPxgf\" data-secret=\"1YKicKPxgf\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good evening dear reader Here is our 9pm current affairs brief for you today List of 9 PM Articles List of 9 PM Articles World Economic Forum: Need for \u2018the Great Reset\u2019 of capitalism Reasons for increasing Palk Bay fishing conflict Need for New 4-tier Regulations for NBFCs COVID Vaccine and Science, Technology, and Innovation&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/9-pm-daily-current-affairs-brief-january-25-2021\/\">Continue reading <span class=\"screen-reader-text\">9 PM Daily Current Affairs Brief \u2013 January 25, 2021<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":75337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-78422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-9-pm-brief","entry"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/01\/website-banners-9-PM-DAILY-BRIEF-2.jpg?fit=1200%2C628&ssl=1","views":{"total":0,"cached_at":"","cached_date":1704942108},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/78422","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=78422"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/78422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media\/75337"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=78422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=78422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=78422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}