Daily Current Affairs UPSC 02 April 2024

One Vehicle, One FASTag

• National Highways Authority of India (NHAI’s) norms of ‘One Vehicle, One FASTag’ has come into force.
• About One Vehicle, One FASTag:
  • Aim is to prevent misuse of single FASTag for multiple vehicles.
  • Enhances efficiency of toll collection system and ensures seamless movement at toll plazas.
• About FASTag:
  • FASTag is a device using RFID technology for toll payments while vehicle is in motion.
  • Flagship programme of Ministry of Road Transport and Highways & NHAI.

Snow leopard (Panthera Uncia)

• Experts advocate for conservation of snow leopards as important "Indicator Species".
• Indicator species reflects specific conditions in its ecosystem
• Protection Status:
  • IUCN – Vulnerable.
  • CITES - Appendix I.
• Habitat in 12 snow leopard range countries including India
  • Around 718 snow leopards in India
• Characteristics: live in high-altitude mountainous terrain, short forelimbs and long hind limbs for rugged environments

SEBI Complaint Redress System (SCORES 2.0)

• SEBI launched SCORES 2.0 to improve investor complaint redress mechanism in the securities market.
• SCORES is an online system where investors can lodge complaints through a web URL or an App.
• Salient features of SCORES 2.0:.
  • Reduced timelines for redressal of investor complaints to 21 calendar days.
  • Complaints are auto-routed to the concerned regulated entity to eliminate delays.
  • Integration with KYC Registration Agency database for easy registration process.

National Information System for Climate and Environment Studies (NICES) Programme

• NICES Programme invites Indian researchers to combat climate change.
• About NICS Programme:
  • Conceptualized in 2012 by ISRO and Department of Space.
  • Objective is to generate and disseminate long-term Essential Climate Variables from satellites.
  • Aims to increase participation of academia and research institutions in addressing climate change challenges through scientific investigations.

Negative Leap Second

• Researchers found that increased ice melting may have delayed the need for a negative leap second.
• A negative leap second is subtracted from clocks to keep them aligned with Earth's rotation when the Earth is spinning more quickly and the length of the day is decreasing.
• This is the opposite of a positive leap second, which is added to clocks when the Earth is spinning more slowly.
• There have been 27 positive leap seconds so far, but no negative leap seconds have been added.

Kodaikanal Solar Observatory (KSO)

• KSO is celebrating its 125th year since establishment in 1899, originally part of the Madras Observatory.
• It was created to study how the Sun heats up Earth's atmosphere and to understand monsoon patterns.
• Located in Kodaikanal for its proximity to the equator and dust-free high-altitude location in the Palani range of Tamil Nadu.
• Currently under the Indian Institute of Astrophysics, it houses telescopes like the H-alpha telescope, Twin Telescope, and WARM telescope.

Konda Reddi Tribe

• Konda Reddi tribe shared indigenous knowledge about Indian Laurel tree with Forest officials.
• About Konda Reddis:
  • Konda Reddis are a Particularly Vulnerable Tribal Group in Andhra Pradesh.
  • They practice Podu cultivation, a type of shifting cultivation.
• About Indian Laurel Tree (Terminalia Tomentosa):
  • Indian Laurel Tree grows up to 30m tall and can store water in its trunk during summers.
  • The tree is used for medicinal purposes and its timber has commercial value.

Insoluble Sulphur/Polymeric Sulphur

• Anti-dumping probe initiated on insoluble sulphur imports from China and Japan.
• Insoluble sulphur is an amorphous form of sulfur that does not dissolve in carbon disulfide.
• Applications:
  • It is used as a rubber additive in automobile parts and other rubber products like tyres and shoes.
  • It is also used as a vulcanization accelerator in the rubber industry.
• Vulcanization is a chemical process that hardens rubber by cross-linking molecules, improving product quality and wearability.

Tajikistan (Capital: Dushanbe)

• Nine individuals detained in connection to Moscow concert hall attack.
• Tajikistan's state security service took action against suspects.
• Political features of Tajikistan:
  • Landlocked country in Central Asia.
  • Borders with Kyrgyzstan, China, Afghanistan, and Uzbekistan.
• Geographical features of Tajikistan:
  • Highest Peak: Imeni Ismail Samani.
  • Major rivers: Amu Darya, Vakhsh River.

India’s Defence Exports Reached an All-time High of Rs. 21,083 crore in FY 2023-24: Ministry of Defence

• India’s Defence Exports in FY 2023-24
  • Defence exports reached an all-time high of Rs. 21,083 crores.
  • Growth of 31 times in the last 10 years compared to FY 2013-14.
  • Growth of 32.5% over FY 2022-23.
  • Number of export authorisations rose to 1,507.
• Significance of Growth in Defence Exports:
  • Enhances self-reliance in defence by increasing manufacturing capabilities.
  • Encourages use of new technology.
  • Integrates with defense value chain by exporting to major countries.
  • Enhances diplomatic relations and strengthens strategic partnerships.
• Challenges with Defence Export:
  • Large orders needed for profitability due to high manufacturing costs.
  • Delays in export clearances affecting competitiveness.
• Initiatives to Promote Defence Exports:
  • Foreign Direct Investment increased to 74% through automatic route.
  • Innovation for Defence Excellence (iDEX) to achieve self-reliance and foster innovation.
  • Defence Acquisition Procedure (DAP 2020) increased indigenous content in procurement.
  • Establishment of Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu.
• Purchase of products that are designed, developed, and manufactured in India (Indian-IDDM)
• Indigenous design must make up at least 50% of the product
• If the product is not of indigenous design, at least 60% must be made in India
• Purchase products that are both made and designed in India, with at least 50% of the 'Make' portion being Indian.
• Products manufactured globally but in India must make up at least 50% of the purchase
• No requirement for products from foreign vendors, but Indian vendors must make up at least 30% of the purchase

Expert Committee on developing GIFT IFSC as ‘Global Finance and Accounting Hub’ submits report to IFSCA

• Expert Committee on developing GIFT IFSC as ‘Global Finance and Accounting Hub’ submits report to IFSCA.
  • Committee formed following Ministry of Finance notification.
  • Notification classified certain services as 'financial services' under IFSC Act, 2019.
• GIFT City-IFSC established as SEZ in Gujarat in 2015.
  • IFSC caters to customers outside domestic economy, dealing with international finance flows.
• Opportunities for GIFT IFSC to become Global Finance and Accounting Hub:
  • Strong technology-driven outsourcing capabilities.
  • Large talent pool of skilled manpower in accounting.
  • "Accounting and finance services" recognized as Champion sector for exports.
• Recommendations:
  • Proposes new regulation for comprehensive definition of services.
  • Only registered companies or LLPs should offer services.
  • Long-term strategies for education and skill development.

IFSC Authority:

• Statutory body established under IFSC Act, 2019.
• Unified regulator for development and regulation of financial products and services in IFSCs in India.

International Organization for Migration (IOM) released a report “A Decade of Documenting Migrant Deaths”

• IOM Report on Migrant Deaths: A Decade of Documentation.
• The International Organization for Migration (IOM) released a report on the completion of ten years of its Missing Migrants Project (MMP).
  • The MMP was launched in 2014 to document deaths and disappearances of people in migration towards international destinations.
  • IOM, established in 1951, is a leading intergovernmental organization in the field of migration with headquarters in Geneva, Switzerland and 175 member states including India.
• Key Findings of the Report:
  • More than one in three migrants whose country of origin could be identified come from countries in conflict.
  • More than two-thirds of those whose deaths were documented through IOM's MMP are unidentified.
  • Major causes of death include drowning, vehicle accidents, suffocation due to fuel inhalation, inadequate shelter, and healthcare.
• Migration refers to the movement of persons away from their usual residence, either across an international border or within a state.
• Factors behind migrations include urbanization, marriage, economic disparities, political instability, and impacts of climate change.
• Consequences of Migration:
  • Intermixing of diverse cultures leading to the evolution of composite culture.
  • Overcrowding in cities leading to haphazard growth and slum development.
  • Changes in the resource-population ratio.
  • Brain drain, where skilled people migrate from poorer countries to developed countries for better economic opportunities.

Initiatives taken related to Migration:

• Global Initiatives: Global Compact for Safe, Orderly and Regular Migration (GCM): First intergovernmental agreement under the United Nations to address all aspects of international migration comprehensively.
• Initiatives in India:
  • Pravasi Bharatiya Bima Yojana: Welfare measures in destination countries for Indian migrants.
  • Pre-departure orientation Training: Providing migrants with training to better prepare them for life abroad and raise awareness about their rights and responsibilities.

Scientists discover evidence of Ozone (O3) on Jupiter’s moon Callisto

• Scientists discovered O3 on Callisto while investigating the chemical evolution of Sulphur dioxide (SO2) with Ultraviolet (UV) irradiation.
  • The presence of O3 was revealed as a result of this research.
• Significance of O3:
  • O3 is formed of three oxygen atoms and is an unstable compound that can be easily formed and broken down.
  • The O3 layer in the Stratosphere acts as an invisible shield, protecting from harmful UV radiation from the Sun.
    • UV rays can damage DNA, trigger mutations, and cause skin cancer and cataracts in humans.
    • UV light can also inhibit plant growth and have detrimental effects on various organisms.
  • O3 near the surface of the Earth is considered a pollutant with negative effects on humans, plants, and animals.
• About Callisto:
  • Callisto was discovered by Galileo Galilei.
  • It is Jupiter's second largest moon and the third largest moon in the solar system.
  • Jupiter has 95 officially recognized moons, with the largest being Ganymede.
  • Callisto is the most heavily cratered object in our solar system.

Prime Minister attends Commemoration ceremony of 90 years of Reserve Bank of India (RBI)

• Brief History of RBI:
  • Established in 1935 under the Reserve Bank of India Act, 1934.
  • Nationalized in 1949.
  • Sir Osborne Smith was the first Governor.
• Organisational Structure:
  • Governed by a Central Board of Directors headed by Governor and four Deputy-Governors.
  • Appointed by the Central Government.
  • Governor and Deputy Governors can hold office for up to five years.
• Functions of RBI:
  • Formulate, implement, and monitor monetary policy.
  • Regulate and supervise the financial system.
  • Issue currency notes and coins.
  • Regulate and supervise Payment and Settlement Systems.
  • Act as Banker to Government and Banks.
• Key Achievements:
  • Gross Non-Performing Assets of public sector banks reduced to 3% in 2023 from 11.25% in 2018.
  • Size of RBI's balance sheet stands around Rs 63 lakh crore in 2023.
  • Foreign exchange reserve of the bank currently stands around $642 billion.

Artificial sun sets the new world record of 48-second-long operation at 100 million degrees

• Korea Superconducting Tokamak Advanced Research (KSTAR) fusion reactor reaches 100 million degrees.
  • Temperature is seven times that of the Sun's core.
• KSTAR maintains high confinement mode (H-mode) for over 100 seconds.
  • H-mode is a stable plasma state.
  • Plasma is hot, charged gas with unique properties.
• About Tokamak:
  • Scientists use donut-shaped tokamak reactor.
  • Hydrogen variants heated to high temperatures to create plasma.
  • Tokamak replicates nuclear fusion reaction in the Sun.
• Nuclear fusion is process where light atomic nuclei combine to form heavier nuclei.
• Significance of Nuclear Fusion:
  • Abundant energy source: Releases four million times more energy than burning coal, oil, or gas.
  • Limited risk of proliferation: No enriched materials used for weapons
  • No risk of meltdown: Fusion reactors are inherently safe
  • Inexpensive and abundant fuel sources available in nature

Key Challenges associated with nuclear fusion:

• Materials Development Challenge: One key challenge in nuclear fusion is developing materials that can withstand the extreme conditions of fusion reactions for decades without degrading.
• Plasma Physics Challenge: Another challenge is the lack of complete understanding of the physics of plasma, which is essential for controlling and sustaining fusion reactions.
• Temperature Maintenance Challenge: Maintaining the extremely high temperature of around 50 million degrees Celsius required for fusion reactions is also a significant challenge in nuclear fusion research.