Daily Current Affairs UPSC 15 March 2024

Loan agreement between India and ADB for Fintech

• India and ADB signed a $23 million loan agreement for Fintech Institute at GIFT-City Project.
• GIFT-City in Gujarat is India's International Financial Services Centre.
• Establish an International Fintech Institute (IFI) in partnership with global institutes.
• Strengthen fintech education, boost start-up success rates, and drive innovation.
• Emphasis on market-driven fintech skills programs.
• Create an enabling environment for private sector investment.

Agnipath scheme

• The third class of Agniveers, who are recruited under the Agnipath initiative to serve in the armed forces, recently had their passing out parade.
• Launched in 2022 by the Ministry of Defence
• Aim to bring changes in HR management of Indian Army
• 17.5 to 21-year-old youth selected to serve in Armed Forces for 4 years
• Best among Agniveers (up to 25% in each batch) selected for another 15 years
• 'Seva Nidhi' package: - Paid to Agniveers upon completion of 4-year engagement period.

Lyme Disease

• In Kerala's Ernakulam district, there was a report of a Lyme disease case.
• Pathogen: Bacteria Borrelia burgdorferi, and Borrelia mayonii
• Transmission: Bite of deer ticks (or black-legged ticks)
• Symptoms: Fever, headache, rash, heart block, arthritis
• Treatment: Doxycycline or amoxicillin antibiotics
• Regions affected: Mainly USA, Europe, some parts of Asia

Geoheritage Sites (GHS)

• Geological Survey of India (GSI) focuses on preserving GHS at Pandavula Gutta in Jayashankar Bhupalpally District (Telangana)
  • Features prehistoric rock paintings in green, red, yellow, and white pigments
  • Paintings include swastika symbols, circles, squares, animals like Bison, Antelope, Tiger, Leopard
• GHS are sites of rare geological and geomorphologic significance
  • India is a party to the UNESCO Convention concerning the Protection of the World Cultural and Natural Heritage
• Parties to the convention worldwide protect GHS through relevant legislation.

Gulf of Tonkin:

• China has established baselines in the Gulf of Tonkin, also known as Beibu Gulf.
  • Baselines are used to determine territorial waters and Exclusive Economic Zones under UNCLOS 1982.
• Located off the coast of Northern Vietnam and Southern China.
• Despite overlapping claims in the South China Sea, both countries have maintained friendly relations in this Gulf.
• The Red River, flowing across China and Vietnam, empties into the Gulf of Tonkin.

PB-SHABD Initiative:

• Ministry of Information and Broadcasting launched PB-SHABD (Prasar Bharti - Shared Audio Visuals for Broadcast and Dissemination) Initiative.
• PB-SHABD is a news service by Prasar Bharati to support the daily news needs of the Indian media industry.
• Offering services at no cost for the first year as an introductory offer.
• Provides news stories in major Indian languages across fifty categories.
• SHABD utilizes the reporter network of Akashvani and Doordarshan for news production.
• Prasar Bharati is India's public broadcaster overseeing Doordarshan and Akashvani.

DIANA Initiative

• DIANA (Defence Innovation Accelerator for the North Atlantic) Initiative approved proposal for accelerator and test centers in Finland
• Established by NATO to accelerate dual-use innovation capacity
• Provides resources, networks, and guidance for companies
• Aims to solve defence and security challenges for NATO nations

Darien Gap

• Darien Gap is a dangerous border crossing for illegal immigration
  • Route taken from South America to North America
• Connects northern Colombia and southern Panama
• Part of the Isthmus of Panama
• An isthmus is a small strip of land that connects two bigger areas of land and has water on both sides.
• Hot, humid area with tropical rainforests, mangrove swamps, and low mountain ranges.

Belarus (Capital: Minsk)

• Foreign Minister of Belarus paid official visit to India.
• Political Features:
  • Foreign Minister of Belarus visited India officially.
  • Landlocked country in Eastern Europe.
  • Borders Lithuania, Latvia, Russia, Ukraine, and Poland.

• Geographical Features:
  • Mostly flat lowlands with low hills and uplands.
  • Topography shaped by glaciation during the Pleistocene Epoch.
  • Major rivers include Pripet, Dnieper, and Neman.
  • Highest point is Dzyarzhynskaya Hill.

NITI Aayog Promotes Grassroots Entrepreneurship with 'Vocal For Local' Initiative

• Key Highlights of Initiative
  • Launched under Aspirational Blocks Programme (ABP)
  • Aim: Encouraging self-reliance and sustainable growth in Aspirational Blocks
  • Bolster local economies and drive inclusive growth
• Implementation of Initiative:
  • Government e-marketplace (GeM) and Open Network for Digital Commerce (ONDC) platforms to support entrepreneurs
  • Assistance for e-commerce onboarding, establishing linkages, enhancing financial and digital literacy, etc.
  • The GeM portal's "Aakanksha" window: designed to highlight native items from the area about 500 ABP.
• ABP Overview:
  • Launched in 2023 by NITI Aayog, ABP is an initiative built on the success of the Aspirational Districts Programme (ADP).
  • Focuses on improving governance to enhance the quality of life of citizens in the most difficult and relatively underdeveloped blocks of India.
  • Covers 500 blocks from 27 states and 4 UTs.
  • Progress Monitoring: - Monitors progress across 40 socio-economic indicators under 5 themes: Health and Nutrition, Education, Agriculture and Allied Services, Basic Infrastructure, Social Development.
• Programme Strategy:
  • Emphasizes convergence of Central and state schemes.
  • Encourages collaboration between NITI Aayog, Central Ministries, State Departments, District and block Administration.
  • Promotes competition among blocks driven by a spirit of mass movement.

About ADP:

• When ADP was first introduced in 2018, it included 112 of the nation's most underdeveloped regions.
• This approach, which has the States as its primary drivers, focuses on each district's strengths, identifies low-hanging fruit for quick improvement, and tracks success by ranking districts monthly.

HLC submits report on One Nation, One Election (ONOE)

• The committee was tasked with investigating the ONOE or Simultaneous Elections (SE) mechanism.
• Two-step approach for electoral reform in India.
  • First hold Lok Sabha and State Legislative Assemblies elections.
  • Then synchronize Municipalities and Panchayats elections with Lok Sabha and SLA.
  • Amendment needed in Article 324A for this change.
  • M&PE to be held within 100 days of Lok Sabha and SLA elections.
• Dealing with hung House/adoption of no confidence motion/defection:
  • Fresh elections to be held in Lok Sabha for unexpired term of previous full term
  • Fresh elections to be held in States for State Legislative Assembly (SLA) until end of Lok Sabha term
  • Amendment needed in Article 83 and Article 172, no state ratification required
• Single electoral roll and electoral identity cards: - Amendment needed in Article 325, state ratification required.

About ONOE:

• Refers to the simultaneous holding of elections for the State Legislative Assemblies, the House of the People, and local bodies like panchayats and municipalities.
  • It will lessen the financial strain on the public coffers, increase attention to governance, and avoid policy gridlock.
• Up until 1967, SE was the norm, but the cycle was broken after that.
• In a previous study, the Law Commission had suggested the idea of SE.

Reimagining Cooperation in a Polarized World

• Human Development Report 2023/2024 released by UNDP
• Key Finding: Human Development Index (HDI) at new high after decline during COVID-19
  • Inequality in recovery: Wealthy countries recovering better than poorest
  • Mismanaged Interdependencies: Increased costs for human well-being due to failure to manage interdependencies
• Rise in trend of Democracy paradox: Support for democracy but also for leaders who may undermine it
• Recommendations for Addressing Political Polarization and Promoting Equity in Technology:
  • Enhancing people's voices in deliberation to discourage political polarization
  • Focus on new governance approaches to tackle misinformation
  • Promoting digital global public goods for greater equity in technology
  • Ensure new technologies are harnessed for equitable human development
  • Public goods are available to all and can be enjoyed without diminishing benefits to others
  • In addition to traditional development aid and humanitarian help, new financial methods and international cooperation are provided to low-income nations.

HDI Performance in India:

• India ranked 134 out of 193 countries in 2022 with an HDI value of 0.644
• India performed well in life expectancy, education, and Gross National Income per capita
• Placed in the medium human development category
• Global HDI Rankings: - Switzerland ranked 1st, followed by Norway and Iceland in global HDI rankings

Union Minister of Commerce & Industry's Participation in Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting

• Key Highlights:
  • Introduction of four new Cooperative Work Programs focusing on various aspects of clean energy and sustainability
  • Establishment of the IPEF Catalytic Capital Fund in collaboration with Private Investment Development Group for climate infrastructure projects
• Published Details of Key Agreements:
• Highlighted agreements:
  • IPEF Agreement
  • Establishes two ministerial-level bodies
  • IPEF Council: Considers matters affecting collective operation of agreements
  • Joint Commission: Monitors work under Pillars II-IV
• Clean Economy Agreement:
  • Defines scope of the agreement
  • Calls for partnership with Indigenous people for clean economies
  • Recognizes role of nuclear energy in energy security
• Fair Economy Agreement:
  • Defines scope of the agreement
  • Does not affect rights or obligations under other agreements
  • Calls for international cooperation in identifying and confiscating proceeds of crime

About IPEF:

• Launched in 2022 under US leadership
• Aims to enhance economic engagement among partner countries in the Indo-Pacific region
• Structured around four pillars: Trade, Supply Chains, Clean Economy, and Fair Economy
• India is involved in Pillars II to IV of IPEF and has observer status in Pillar I.

Ministry of I&B blocks 18 OTT platforms and social media accounts for vulgar content

• The decision was made because the content on over-the-top (OTT) platforms appeared to violate
  • Violation of Information Technology Act, 2000
  • Section 67: Punishment for transmission of obscene materials
  • Section 67A: Punishment for publishing sexually explicit content
• Violation of Section 292 of the IPC: Prohibits circulation of obscene materials
• Violation of Section 4 of the Indecent Representation of Women (Prohibition) Act, 1986
• Delhi High Court stated that profanity in web series cannot be protected under free speech
  • HC called for stricter enforcement of Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021
  • The rules mandate significant social media intermediaries to use technology-based measures to identify specific types of content on a best-effort basis.
• Regulation of content on OTT and social media platforms emphasized by High Court
  • Electronic media's vast influence on people of all ages, including young children
  • Vulgar content does not accurately reflect societal values
  • Profanity raises moral concerns and should be addressed.

SIDBI's Avaana Sustainability Fund (ASF) approved by Green Climate Fund (GCF)

• ASF is the first anchored fund of  Small Industries Development Bank of India (SIDBI).
  • ASF is a venture capital fund
  • Aim: To invest in early-stage climate technology companies
  • Project Value: $120 million
  • ASF's strategies include:
  • Investing in low-carbon and climate-resilient businesses
  • Adding value for climate and sustainability leaders.
• Overview of the Green Climate Fund (GCF):
  • Largest dedicated climate fund globally
  • Established in 2010 under the Cancún Agreements
  • Mandate is to promote low emission, climate-resilient development in developing countries
  • Operates as the financial mechanism of the UNFCCC
  • The United Nations is its accountable body.
  • The South Korean city of Incheon is home to the Secretariat.
• Key Features of GCF:
  • Country-driven approach: Developing countries take the lead in GCF programming and implementation.
  • Balanced allocation: GCF invests 50% of its resources in mitigation and 50% in adaptation in grant equivalent.
  • Flexible financial support: GCF provides funding through a combination of grants, concessional debt, guarantees, or equity instruments.

Other important Funds for Climate Finance:

• Global Environment Facility (GEF): Created in 1992 at the Rio Earth Summit to address environmental issues.
• GEF Trust Fund: Established to address urgent environmental problems on a global scale.
• Adaptation Fund: Founded in 2001 to support adaptation projects in developing countries under the Kyoto Protocol.
• Climate Investment Funds (CIFs): Established in 2008 as a multilateral fund for climate-related investments.