Daily Current Affairs UPSC 1 March 2024

National Bank for Financing Infrastructure and Development (NaBFID)

• Union Finance Minister reviews NaBFID performance
• NaBFID:
• Genesis: Established in 2021 by The NaBFID Act, 2021
• Objectives: 
• • Address finance gaps in infrastructure.
  • Strengthen markets, boost economy.
• Vision: Become a global impact investment provider for India's growth.
• Regulation: Regulated by RBI as an All-India Financial Institution.

Pradhan Mantri Anusuchit Jaati Abhyuday Yojna (PM-AJAY)

• Ministry of Social Justice and Empowerment lays foundation for residential hostels under PM-AJAY.
• PM-AJAY:
  • Type: Centrally Sponsored Scheme.
  • Objectives: Reduce poverty, increase literacy, encourage SC enrolment in schools.
• Components:
  • Development of SC villages.
  • Grants for projects, construction of hostels in top ranked HEIs.
  • Financial support for monitoring and evaluation.

Melanochlamys droupadi (M.droupadi)

• Named after President of India by Zoological Survey of India.
• A new marine species of head-shield sea slug discovered from West Bengal and Odisha coast.
• Shares habitat with Melanochlamys bengalensis but differs morphologically.
• • M. droupadi is Smaller in size with mottled brown to black coloration and a ruby red spot on the posterior shield.
• Rapid hunters feeding on mobile prey like sea slugs, roundworms, marine worms, and small fishes

Urban Framed Survey (UFS)

• Ministry of Statistics and Programme Implementation (MoSPI) signed MoU with ISRO for UFS using Bhuvan.
• About IFS:
  • Conducted by FOD of NSSO.
  • UFS block has 120-150 households in urban areas.
  • Conducted in five-year phases, serves as sampling frame for NSSO Socio-Economic Surveys.
  • Digital form carried out for the first-time during Phase 2017-22 using Bhuvan platform.

Very Short-Range Air Defence System (VSHORADS) missile

• DRDO successfully flight tested VSHORADS from a ground-based portable launcher at Integrated Test Range, Chandipur.
• About VSHORADS missile:
  • Indigenously developed MANPADS missile by RCI in collaboration with other DRDO labs and Indian Industry Partners.
  • Features miniaturized Reaction Control System (RCS) and integrated avionics.
  • Propelled by dual-thrust solid motor, designed to neutralize low-altitude aerial threats at short ranges.

Obesity Study Findings:

• Lancet study shows a global increase in obesity rates.
• Obesity is defined as excessive fat accumulation posing health risks.
• • Obesity is indicated by a BMI over 30.
• Finding of Lancet:
• • Rates of obesity in children and adults have quadrupled worldwide from 1990 to 2022.
  • In India, millions of women, and men over 20 are obese.
• Obesity can lead to high blood pressure, heart disease, diabetes, and breathing problems.

Vikramaditya Vedic Clock

• Inauguration of world's first Vedic clock, 'Vikramaditya Vedic Clock' based on Indian 'panchang' calculations.
• Located in Jantar Mantar in Ujjain, part of observatories built by Sawai Jai Singh II in 18th century.
  • Jantar Mantar is a UNESCO World Heritage site in 5 cities including Delhi, Mathura, Varanasi, and Jaipur.
• Ujjain is at the intersection of zero meridian and Tropic of Cancer.
  • Hindu astronomical belief considers Ujjain as India's central meridian, determining country's time zones and differences.

Alliance for Global Good-Gender Equity and Equality

• Logo and website launched by Union Minister of Women & Child Development.
• About Alliance for Global Good-Gender Equity and Equality
  • Aim: bring together global best practices, foster knowledge sharing, attract investments in women's health, education, and enterprise.
  • Supported by World Economic Forum, builds on G20 Leaders' Declaration and India's commitment to women-led development.

Nicaragua (Capital: Managua)

• Experts appointed by the UN, the president of Nicaragua has routinely violated human rights in ways that "amount to crimes against humanity."
• Political features:
  • Location: Largest Central American republic
• Boundaries:
  • Honduras to the north, Costa Rica to the south.

Maritime: Caribbean Sea to the east, Pacific Ocean to the west 

• Geographical features:

• • Highest peak: Mogotón Peak
  • Major rivers: Coco River, San Juan River, Río Grande de Matagalpa
  • Freshwater Lake: Lake Nicaragua (largest in Central America)
  • Ometepe Island located in Lake Nicaragua.

Reserve Bank of India (RBI) released Draft Disclosure Framework on Climate-related Financial Risks, 2024

• RBI released guidelines on climate-related financial risks.
• These guidelines are issued under the Banking Regulation Act, 1949.
• Climate-related financial risks refer to risks from climate change and mitigation efforts.
• Need for Disclosure:
  • Climate-related risks are emerging risks.
  • Helps stakeholders understand an organization's risks.
  • Facilitates early risk assessment and market discipline.
• Applicability to Regulated Entities (RE's):
  • Includes Scheduled Commercial Banks, Tier-IV Primary Co-operative Banks, All-India Financial Institutions.
  • Large Non-Banking Financial Companies
  • Excludes Local Area Banks, Payments Banks, and Regional Rural Banks.
• RE’s will be required to make disclosures on four thematic areas (Pillars):
  • Governance: Processes, controls, and procedures utilized by real estate entities to recognize and address climate-related financial risks and opportunities.
  • Strategy: Plans in place for managing climate-related financial risks and opportunities within the real estate sector.
  • Risk Management: Procedures for identifying, evaluating, prioritizing, and overseeing climate-related financial risks and opportunities.
  • Metrics and Targets: Performance indicators related to real estate entities' management of climate-related financial risks and opportunities.

Cabinet approves three more semiconductor units under ‘Development of Semiconductors and Display Manufacturing Ecosystems in India:

• Cabinet approves establishment of three new semiconductor units in India.
  • Semiconductor Fab in Dholera, Gujarat in partnership with Taiwan companies.
  • Semiconductor ATMP in Morigaon, Assam.

Semiconductor ATMP for specialized chips in Sanand, Gujarat in partnership with Japan and Thailand companies.

• Importance of semiconductors in electronics industry:
  • Semiconductors are materials with characteristics between conductors and insulators.
  • Semiconductor fab manufactures integrated chip circuits and silicon wafers
  • Essential in electronics devices, telecommunications, and emerging technologies like AI, 5G, IoT
• Global and Indian semiconductor industry projections:
  • US, Taiwan, and China are semiconductor powerhouses.
  • Global semiconductor industry is projected to reach trillion-dollar industry by 2030.
  • Indian semiconductor market expected to reach US$ 55 billion by 2026.

Cabinet approves establishment of International Big Cat Alliance (IBCA) with Headquarters in India

• Establishment of International Big Cat Alliance (IBCA):
  • IBCA was launched in April 2023 to commemorate the 50th year of Project Tiger.
  • The aim is to strengthen global cooperation for the conservation of seven big cat species and their habitats.
  • Except for Puma and Jaguar, India inhabits all 5 big cats.
• Funding for IBCA:
  • India is providing initial support of Rs.150 crore for five years.
  • Contributions from various agencies and organizations will be explored.

• Governance Structure of IBCA:
  • Consists of Assembly of Members, Standing Committee, and Secretariat.
• Significance of Protecting Big Cats and Their Habitats:
  • Balances ecosystem as top predators in the food chain.
  • Ensures water security, especially in regions like the Himalayas.
  • Helps mitigate climate change by protecting forest landscapes.
  • Big cats are culturally significant and support economies through ecotourism and livelihood opportunities.

Status of Leopards in India Report 2022 released by Union Minister for Environment, Forest and Climate Change.

• Leopard Population Estimation (5th Cycle).
• Conducted by National Tiger Conservation Authority and Wildlife Institute of India.
  • Collaboration with State Forest Departments for "Monitoring of Tiger, Co-predators, prey and their Habitat-2022".
  • Focused on forested habitats in 18 tiger states, excluding non-forested habitats, arid areas, and high Himalayas above 2000m.

• Key Findings:
  • The leopard population is estimated at 13,874 with 1.08% growth compared to 2018.
  • Central India and Eastern Ghats saw largest growth, while Shivaliks and Gangetic plains declined.

Madhya Pradesh has highest population, followed by Maharashtra, Karnataka, and Tamil Nadu.
Nagarajunasagar Srisailam Tiger Reserve has the highest leopard population, followed by Panna and Satpura. 

Indian Leopards (Panthera pardus fusca):

• Protection Status: 
• • Vulnerable (IUCN).
  • Appendix I (CITES).
  • Schedule 1 of Wildlife Protection Act 1972
• Habitat: India, Nepal, Bhutan, parts of Pakistan (excluding mangrove forests and deserts)
• Characteristics: Solitary, nocturnal, skilled climbers who rest on tree branches

Cabinet approves PM-Surya Ghar: Muft Bijli Yojana

• Ministry: Ministry of New & Renewable Energy
• Purpose: Provide free electricity for up to 300 monthly units for 1 Crore households through installing rooftop solar (RTS)
• Subsidy structure: Central Financial Assistance (CFA) for Residential RTS:
• • Ranging from Rs. 30,000/- per kW to Rs. 78,000 for systems larger than 3 kW
• Loan option: Households can access collateral-free low-interest loans of around 7% for installation of RTS systems up to 3 kW.
• National Portal: A portal to help households apply for subsidies, select vendors, and make informed decisions about RTS systems.
• Model Solar Village: One village in each district will serve as a role model for RTS adoption in rural areas.
• Incentives: Urban Local Bodies and Panchayati Raj Institutions will be incentivized to promote RTS installations in their areas.
• Solar capacity addition: Aim to add 30 GW of solar capacity through RTS in the residential sector.

Reserve Bank of India (RBI) issued revised regulatory framework of the Bharat Bill Payment System (BBPS)

• RBI has updated the regulatory framework for BBPS under the Payment and Settlement Systems Act, 2007.
• The aim is to simplify bill payments, increase participation, and enhance customer protection.
• About BBPS:
  • BBPS is an integrated online platform developed by NPCI for various bill payments.
  • It aims to create an interoperable service with multiple payment modes and instant payment receipts.
• Structure of BBPS:
  • Operates with NPCI Bharat Bill Pay Ltd (NBBL) as BBPCU and BBPOUs as operational units.
  • BBPOUs can function as BOUs, COUs, or both.
• Regulatory Framework Details:
  • Non-bank payment aggregators can now participate as operating units.
  • BBPCU will establish rules, criteria, and technical standards for system participation.
  • COUs will provide interfaces to customers, while BOUs will onboard billers to BBPS.