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Archives: News

  • Wildlife Conservation Efforts

    Caracals on the brink of extinction in India

    Why in the news?

    • With only an estimated 50 individuals remaining, predominantly in western India, the caracal (Caracal caracal schmitzi) is on the verge of extinction in the country.
    • Ranthambhore Tiger Reserve in Rajasthan and Kutch in Gujarat are the last strongholds for caracals in India, hosting around 28 and 20 individuals, respectively.

    About Caracals

    • Caracals are small wild cats known for their long ears with tufts and a reddish-tan or sandy-brown fur. It is called Siya Gosh in India.
    • It is nocturnal animal typically preys upon small mammals, birds, and rodents.
    • They live naturally in India, especially in Northwestern India. They are also found in Africa, the Middle East, and Central Asia.
    • They are found in Aravalli hill range, semi-deserts, savannahs, scrublands, and dry forests.
    • Caracals used to live all over Central India and the Indo-Gangetic plains, but they haven’t been spotted in those areas for 40 years.

    Conservation Status

    • Caracals are listed as ‘Least Concern‘ on the IUCN Red List globally.
    • It is listed as Near Threatened in India,
    • It falls in the Schedule-I of the Indian Wildlife (Protection) Act, 1972.

    Protection Efforts

    • In 2021, the National Board for Wildlife (NBWL) and the Ministry of Environment, Forest and Climate Change (MOEFCC) announced a plan to recover and increase the population of 22 species in India, including caracals.
    • Areas like Kutch, Aravalli mountains, Malwa plateau, and Bundelkhand region have been identified as potential habitats, with the Ranthambore-Kuno Landscape being a key conservation site.

    PYQ:

    2017:

    In India, if a species of tortoise is declared protected under Schedule I of the Wildlife (Protection) Act, 1972, what does it imply?

    (a) It enjoys the same level of protection as the tiger.

    (b) It no longer exists in the wild, a few individuals are under captive protection; and now it is impossible to prevent its extinction.

    (c) It is endemic to a particular region of India.

    (d) Both B and C stated above are correct in this context.

  • Wildlife Conservation Efforts

    Nagarjunasagar-Srisailam Tiger Reserve (NSTR)

    Why in the news?

    The Forest Department and a temple authority at Ahobilam have imposed certain restrictions on visitors arriving at a shrine in Nagarjunasagar-Srisailam Tiger Reserve (NSTR).

    About Nagarjunasagar-Srisailam Tiger Reserve

    Details
    Origin of Name Named after Nagarjuna Sagar Dam and Srisailam Dam.
    Location Situated in the Nallamala hill range, part of the Eastern Ghats in Andhra Pradesh.
    Area Largest tiger reserve area in India, covering a total area of 3727 sq km.
    Wildlife Sanctuaries Constituted by the Rajiv Gandhi Wildlife Sanctuary and the Gundla Brahmeswaram Wildlife Sanctuary.
    Vegetation Features tropical, dry, moist, deciduous vegetation with diverse flora and fauna.
    Topography Consists of plateaus, ridges, gorges, and deep valleys.
    River Krishna Traverses through the reserve for approximately 270 kilometers.
    Additional Information
    • Attained tiger reserve status in 1983.
    • Home to Bengal tigers, Indian leopards, and more.
    • Habitat contains several endemic species of plants.
    • Tropical dry deciduous forests with bamboo and grass undergrowth.

     

    PYQ:

    2020:

    Among the following Tiger Reserves, which one has the largest area under “Critical Tiger Habitat”?

    (a) Corbett

    (b) Ranthambore

    (c) Nagarjunsagar-Srisailam

    (d) Sunderbans

     

    2015:

    Consider the following pairs :

    Place of Pilgrimage: Location

    1.    Srisailam : Nallamala Hills

    2.    Omkareshwar : Satmala Hills

    3.    Pushkar : Mahadeo Hills

    Which of the pairs given above is/are correctly matched?

    (a) 1 only

    (b) 2 and 3 only

    (c) 1 and 3 only

    (d) 1, 2 and 3

     

    Practice MCQ:

    It is the largest tiger reserve in India, covering a total area of 3727 sq km. It is constituted by the Rajiv Gandhi Wildlife Sanctuary and the Gundla Brahmeswaram Wildlife Sanctuary and features tropical, dry, moist, deciduous vegetation with diverse flora and fauna.

    Which protected area is implied by the above description?

    (a) Nagarjunasagar-Srisailam Tiger Reserve

    (b) Sathyamangalam Tiger Reserve

    (c) Kalakkad Mundanthurai Tiger Reserve

    (d) Biligiriranga Swamy Temple Tiger Reserve

  • Innovations in Biotechnology and Medical Sciences

    OptiDrop platform for studying Single Cells

    Why in the news?

    The Centre for Cellular and Molecular Platforms (C-CAMP) in Bengaluru has unveiled OptiDrop platform designed to simplify and significantly reduce the cost of studying single cells.

    About C-CAMP

    • C-CAMP Initiative was established in 2009 under the aegis of the Department of Biotechnology, Ministry of Science, Technology, and Earth Sciences.
    • It stands as India’s premier biosciences research and innovation hub.

    What is OptiDrop?

    • OptiDrop presents a cost-effective alternative to traditional flow cytometry methods, making single-cell analysis more accessible to a broader range of researchers and institutions.
    • OptiDrop simplifies single-cell analysis by encapsulating individual cells within droplets, facilitating easier manipulation and analysis compared to traditional methods.
    • Key features such as affordability, live data visualization, compact design, and closed-system architecture enhance its suitability for diverse clinical applications.
    Cytometry is the measurement of number and characteristics of cells. Variables that can be measured by cytometric methods include cell size, cell count, cell morphology (shape and structure), cell cycle phase, DNA content, and the existence or absence of specific proteins on the cell surface or in the cytoplasm.

    Applications of OptiDrop

    • Expansive Utility: OptiDrop unlocks various downstream applications, including drug screening, environmental monitoring, immunotherapy, and single-cell genomics, revolutionizing research across multiple domains.
    • Advanced Research Capabilities: Researchers can leverage OptiDrop to study individual cell behavior during drug screenings, identify and monitor environmental contaminants, sort specialized cell populations, and explore genetic heterogeneity within cell populations.

    Benefits offered by OptiDrop

    • Accessible Technology: Unlike conventional cytometers, which can cost up to Rs 40 lakh or more, OptiDrop offers a cost-efficient solution likely priced around Rs 10 lakh, making it accessible to a broader range of research labs and institutions.
    • Affordable Scalability: OptiDrop’s affordable pricing and scalable design allow institutions of varying sizes to adopt the technology, democratizing access to cutting-edge single-cell analysis capabilities.
    • Long-Term Sustainability: By reducing the barrier to entry for single-cell analysis, OptiDrop paves the way for sustainable and impactful research initiatives, driving innovation and discovery in the life sciences.

    PYQ:

    2020:

    Which of the following statements are correct regarding the general difference between plant and animal-calls?

    1.    Plant cells have cellulose cell walls whilst animal cells do not.

    2.    Plant cells do not have plasma membrane unlike animal cells which do.

    3.    Mature plant cell has one large vacuole whilst animal cell has many small vacuoles.

    Select the correct answer using the code given below:

    (a) 1 and 2 only

    (b) 2 and 3 only

    (c) 1 and 3 only

    (d) 1, 2 and 3

     

    Practice MCQ:

    The OptiDrop equipment recently seen in news finds application in:

    (a) Cytometry

    (b) Astronomy

    (c) Geology

    (d) Radiometry

  • Global Geological And Climatic Events

    Mother of Dragons Comet: A Rare Celestial Phenomenon

    Why in the news?

    • The “Mother of Dragons” comet, officially named Comet 12P/Pons-Brooks, is making a rare appearance in the Northern Hemisphere skies.
    • This Halley-type comet, completing its orbit every 71 years, has emerged marking its first sighting since 1954.

    What is a Comet?

     

    • A comet is a celestial object composed primarily of ice, dust, and rocky particles that orbit the Sun in elongated, elliptical paths.
    • These icy bodies originate from the outer regions of the solar system, specifically from two regions: the Kuiper Belt and the Oort Cloud.
    • Comets are often referred to as “dirty snowballs” or “icy dirtballs” due to their composition.
    • Halley’s Comet is a short-period comet visible from Earth every 75–79 years.
    • It was last seen in Earth’s skies in 1986 and was met in space by an international fleet of spacecraft. It will return in 2061 on its regular journey around the Sun.

     

    About Mother of Dragons Comet

    • It is named by the European Space Agency (ESA).
    • The comet’s name is inspired by its link to the annual “kappa-Draconids” meteor shower, active from November 29 to December 13 each year.
    • It has a width of 17 km. the comet features an elliptical orbit adorned with a mysterious spiral of luminous light enveloping its icy nucleus.
    • It is comprised of ice, dust, rock, and diatomic carbon molecules.
    • It dissipates a radiant emerald hue when illuminated by the sun, captivating observers with its bright green appearance.

    Display Features of the Comet

    • Renowned for its cryovolcanic eruptions, the comet periodically ejects material from its icy core into space, resulting in breath-taking luminosity.
    • Its most recent eruption in July 2023, after 69 years, earned it the moniker “devil comet” due to its dramatic outburst, resembling horns likely caused by internal features.

    PYQ:

    2014:

    What is a coma, in the content of astronomy?

    (a) Bright half of material on the comet

    (b) Long tail of dust

    (c) Two asteroids orbiting each other

    (d) Two planets orbiting each other

     

    Practice MCQ:

    With reference to the “Mother of Dragons” Comet, consider the following statements:

    1.    It is named by the NASA.

    2.    It is comprised of ice, dust, rock, and diatomic carbon molecules.

    3.    It makes appearances after every 10 years.

    How many of the above statements is/are correct?

    (a) One

    (b) Two

    (c) Three

    (d) None

  • Innovations in Sciences, IT, Computers, Robotics and Nanotechnology

    Nuclear Fusion: KSTAR reaches a temperature of 100 million Celsius

    Why in the news?

    • South Korean scientists at the Korea Institute of Fusion Energy (KFE) achieved a significant milestone by producing temperatures of 100 million Celsius for 48 seconds in the Korea Superconducting Tokamak Advanced Research (KSTAR) fusion reactor.
    • KSTAR maintained the high confinement mode (H-mode) for over 100 seconds, demonstrating stability in plasma conditions crucial for sustained fusion reactions.
    • This is a world record.

    What is Tokamak Technology?

     

    • Scientists utilize a tokamak, a donut-shaped reactor, to heat hydrogen variants to extreme temperatures, creating plasma.
    • This reactor replicates the Sun’s fusion reaction, generating immense heat energy.

     

    What is Nuclear Fusion?

    • Nuclear fusion involves fusion of hydrogen and other light elements to release massive energy, akin to the process that powers the Sun and stars.
    • It is a process where two light atomic nuclei combine to form a heavier nucleus, releasing a large amount of energy in the process.
    • This occurs under extremely high temperatures, typically in the range of tens of millions of degrees Celsius, and pressure, similar to those found in the core of stars.
    • In a tokamak reactor, hydrogen variants are heated to extreme temperatures to create a plasma, mimicking conditions found in the Sun’s core.
    • 1 kg of fusion fuel contains about 10 million times as much energy as a kg of coal, oil or gas.

    Significance of KSTAR’s achievements

    • Achieving sustained fusion reactions in laboratory conditions unlocks the potential for unlimited, zero-carbon electricity generation.
    • By extending the duration of high-temperature fusion, scientists aim to sustain plasma temperatures of 100 million degrees for 300 seconds by 2026, pushing the boundaries of fusion research.
    • Progress in fusion research at KSTAR contributes to international efforts, supporting projects like the International Thermonuclear Experimental Reactor (ITER) in France.

    ITER Project

     

    • ITER is a unique partnership of nations jointly responsible for the construction, operation, and decommissioning of an experimental fusion facility.
    • It was founded in 2007 and is based at Saint-Paul-lez-Durance, France.
    • ITER being an experimental reactor, it will allow the study of fusion reaction which governs the Sun and other Stars.
    • Nuclear fusion will take place in the form of Plasma in a Tokamak.

    ITER is run, funded and designed by 7 members:

    1. European Union (EU)
    2. India
    3. China
    4. Japan
    5. Russia
    6. South Korea
    7. United States

    Benefits offered by Nuclear Fusion Energy

    • Clean Energy: Fusion reactions produce minimal radioactive waste compared to nuclear fission, which generates long-lived radioactive waste. Fusion also emits no greenhouse gases, making it an environmentally friendly energy source.
    • Safety and Controlled Nature: Fusion reactions are inherently safer than nuclear fission reactions. Fusion reactors have a lower risk of accidents and do not produce runaway chain reactions like fission reactors.
    • Energy Security: Fusion provides a reliable and secure source of energy, reducing dependence on fossil fuels and volatile energy markets. It offers a sustainable solution to meet global energy demand.
    • High Energy Density: Fusion reactions release a vast amount of energy compared to other energy sources. This high energy density makes fusion power compact and efficient, enabling it to meet large-scale energy needs.
    • Scalability: Fusion reactors can be designed to scale up or down to meet varying energy demands. They can serve as base-load power plants or complement renewable energy sources, providing flexibility in the energy mix.
    • Minimal Environmental Impact: Fusion power plants have a small footprint and do not require large mining operations or fuel transportation, reducing their environmental impact. They also produce no air pollution or carbon emissions during operation.

    PYQ:

    2016:

    India is an important member of the ‘International Thermonuclear Experimental Reactor’. If this experiment succeeds, what is the immediate advantage for India?

    (a) It can use thorium in place of uranium for power generation

    (b) It can attain a global role in satellite navigation

    (c) It can drastically improve the efficiency of its fission reactors in power generation

    (d) It can build fusion reactors for power generation

     

    Practice MCQ:

    The Korea Superconducting Tokamak Advanced Research (KSTAR) fusion reactor has recently set a world record. In this regard, consider the following statements:

    1.    It produced a temperatures of 100 million Celsius for 48 seconds.

    2.    It achieved sustained fusion reactions in laboratory conditions.

    Which of the given statements is/are correct?

    (a) Only 1

    (b) Only 2

    (c) Both 1 and 2

    (d) Neither 1 nor 2

  • Labour, Jobs and Employment – Harmonization of labour laws, gender gap, unemployment, etc.

    South Asia, India risk squandering demographic dividend: World Bank

    Why in the News? 

    Recently, the ‘Job for Resilience Report’ was published by the World Bank. The Report talks about how the South Asia region including India is not making use of its demographic dividend.

    • The pace of job creation in the region fell well short of the growth in the working-age population, even as it projected a strong 6.0-6.1% growth for 2024-25 for the region in its South Asia region.’

    Main findings in this report:

    The South Asia’s labor markets as Emerging markets and developing economies: 

    • Declining employment ratio: South Asia’s employment weakened from 2000–23, despite a 6% post-pandemic surge. While most EMDEs remained stable, South Asia declined by 2%, with varied changes within.
    • Low employment ratios: Except for Nepal, South Asian countries have employment ratios significantly lower than other EMDEs, with South Asia’s ratio at 59%, notably lower than the 70% average elsewhere in 2023.
    • Employment weakness for men and women: In South Asia, men’s employment ratios declined over two decades, compared with other EMDEs. Women’s ratios, persistently low and half those elsewhere, primarily contribute to South Asia’s lower overall employment rates.
    • A missing engine of growth: In the 2010s, South Asia experienced a surge in labor productivity growth, which later declined below the EMDE average from 2020–23. Unlike other EMDEs, South Asia’s output growth relied heavily on labor productivity growth and working-age population expansion. However, declining employment ratios hampered output growth.

    Report on Indian Scenario:

    • Trends in employment and labor productivity: India’s employment growth in the 2010s was weak but rebounded post-pandemic. The employment ratio declined significantly until 2022 but partially recovered by 3 percentage points in 2023.
    • Migrant workers:  In India, Migrant workers returned to rural areas, and emigration from rural areas slowed, during the pandemic.5 India has the region’s second-largest share of workers in agriculture (44 per cent) after Nepal.
    • Employment composition: India’s industrial employment grows with public investments, eased labor regulations, and contract labor. The services sector, led by IT, BPO, and healthcare, thrives on a skilled workforce and digital infrastructure, limiting opportunities for unskilled labor.

    Measures to address the challenges highlighted in the Report: 

    • Skill Development Programs: Implementing extensive skill development programs to equip the workforce with the necessary skills demanded by the evolving job market, focusing on both technical and soft skills.
    • Labour Market Reforms: Continuously reviewing and refining labor regulations to strike a balance between protecting workers’ rights and fostering a conducive environment for job creation and investment.
    • Promotion of Inclusive Growth: Implementing policies aimed at promoting inclusive growth, particularly focusing on increasing women’s participation in the workforce through measures like affordable childcare, flexible work arrangements, and addressing cultural barriers.
    • Investment in Infrastructure: Continued investment in infrastructure development to facilitate the growth of industries and services, creating more employment opportunities, particularly in rural areas.
    • Enhancing Productivity: Implementing measures to enhance productivity across sectors through technological advancements, innovation, and efficient resource allocation.

    Conclusion: World Bank warns South Asia, including India, risks wasting demographic dividend due to declining employment ratios and low productivity growth. Urgent measures needed: skill development, labor reforms, inclusive growth promotion, infrastructure investment, and productivity enhancement.

    With inputs from:

    https://openknowledge.worldbank.org/server/api/core/bitstreams/4ec19c2d-65fd-4523-8020-338f0cb98523/content

  • RBI Notifications

    Let’s make ₹ a global currency: PM to RBI

    Why in the news? 

    PM Modi asked the RBI to prepare a 10-year strategy to make the Indian rupee a globally “accessible and acceptable” currency and to meet the credit needs of every segment of the country

    What is Global Currency?

    A global currency refers to a single currency that is used by every country in the world. This concept involves all nations adopting the same currency for international trade and transactions

    What are the major challenges for India to make Rupeea a Global Currency?

    • Economic Stability: The Indian economy would need to demonstrate consistent stability and growth to inspire confidence among international investors and users of the currency.  
    • Liquidity in Financial Market Development:  These markets need to be deep and liquid to accommodate large volumes of international transactions denominated in INR.
    • Capital Controls: India currently has restrictions on capital flows in and out of the country. These would need to be eased to facilitate international trade and investment denominated in INR.
    • Legal and Regulatory Framework: There would need to be robust legal and regulatory frameworks in place to govern the use of the INR in international transactions, including clearing and settlement systems, as well as dispute resolution mechanisms.
    • International/ Investors Acceptance: Convincing other countries, businesses, and individuals to adopt the INR as a global currency would require concerted diplomatic efforts, as well as initiatives to promote its use in international trade and finance.
    • Currency Convertibility: Full convertibility of the INR would be necessary for it to become a global currency.

    Indian Efforts to Make Rupee a Global Currency:

    • RBI’s Roadmap for Rupee Internationalization: The RBI has published a report outlining a roadmap for the internationalization of the Rupee. This roadmap recommends actions such as including the Rupee in the Special Drawing Rights (SDR) basket, promoting its use in trade invoicing and settlement, facilitating its use in offshore markets, and developing financial products denominated in Rupees.
    • Promoting Use of Local Currencies for Cross-Border Transactions: India has been engaging in agreements with countries like the UAE to promote the use of local currencies, including the Rupee, for cross-border transactions.

    Way Forward:

    • Need for Transactions in Rupee: To be an accepted International Currency, the Indian rupee is to be freely used in transactions by residents and non-residents and as a reserve currency for global trade.
    • Need to increase the Exports: Indian Trades need to be promoted beyond the Asian region.  All export and import transactions need to be invoiced in Indian rupees.
    • Reducing the Constraints: Legal and Regulatory frameworks need to be freed to attract investors for their business profits without hampering security concerns.

    https://www.hindustantimes.com/india-news/lets-make-a-global-currency-pm-to-rbi-101711996093588.html

    https://theprint.in/opinion/indian-rupee-can-become-global-reserve-currency-but-modi-govt-must-bring-reforms-for-that/1738000/

  • Roads, Highways, Cargo, Air-Cargo and Logistics infrastructure – Bharatmala, LEEP, SetuBharatam, etc.

    Why Supreme Court bar unregulated soil extraction for linear projects?

    Why in the News?

    Recently, the SC revoked the notification given by the Environment Ministry to exempt the extraction of ordinary earth for linear projects, such as road and railway construction.

    • It was challenged before the National Green Tribunal (NGT), which asked the Ministry to review it within three months. However, the Ministry did not take any action, leading the matter to reach the SC.

    What are the linear projects? 

    Linear projects refer to Construction or Development Projects. It includes the construction of linear structures like utility lines, pipelines, railroad tracks, highways, stormwater channels, and stream restoration activities.

    What was the 2020 exemption?

    • September 2006: The Environment Ministry issued a notification under the Environment (Protection) Act, 1986, on activities that would require prior Environmental Clearance.
    • January 2016: A second notification was issued, exempting certain categories of projects from this requirement.
    • March 2020: It added “Extraction or sourcing or borrowing of ordinary earth for the linear projects such as roads, pipelines, etc” to the list of exempted activities.
      • The general purpose of the 2020 notification was to conform to the amendments made to the Mines and Minerals (Development and Regulation) Act, 1957, in March 2020, allowing new lessees to continue mining for two years with the statutory clearances and licenses issued to their predecessors.

    Nexus between the Judiciary and the Union Government (Ground for Challenges)

      • Judicial stand: The SC invalidated the broad and random exception, highlighting that the announcement was rushed during the COVID-19 lockdown without seeking feedback or objections through prior notification.
    • The exemption granted without incorporating safeguards was deemed arbitrary and violative of Article 14 of the Constitution.
    • The court emphasized that the absence of safeguards defeats the purpose of the Environment Protection Act (EP Act).
    • An argument by the center: The Center contended that the exemption was essential “to benefit the general public” and would support “the kumhars (potters), farmers, gram panchayats, banjaras, roads of Gujarat,” and all non-mining activities recognized by the states.
      • However, the Apex court stated that the Centre had failed to provide reasons for concluding that the notification was issued in the public interest.

    Similar Judicial Scrutiny in the Past:

    • January 2018: The NGT quashed an exemption offered by the Ministry’s 2016 notification from the requirement of prior EC for building and construction activities having built-up areas of more than 20,000 sq m. According to the Tribunal, there was nothing to suggest an improvement in the quality of the environment to justify the exemption.
    • July 2015: Underlining that the EP Act mandates prior approval, the NGT struck down two Office Memorandums issued by the Ministry in December 2012 and June 2013 for granting ex-post facto EC to projects under the 2006 notification.
    • July 2021: Another notification of the Ministry that sought to perpetuate an amnesty window opened for just six months in March 2017 to clear projects under the “violation category” and issued ex-post facto approval to more than 100 projects, until the SC stayed it in January this year.
    • March 2024: The Kerala HC quashed a 2014 notification that exempted educational institutions and industrial sheds with built-up areas of more than 20,000 sq m from obtaining EC.

     

    Conclusion: The Supreme Court invalidated the Environment Ministry’s exemption for earth extraction in linear projects due to a lack of justification and safeguards, emphasizing compliance with Environmental Clearance to minimize environmental harm, safeguarding the Environment Protection Act’s purpose.

    Mains PYQ

    Q How does the draft EnvironmentImpact Assessment(EIA)Notification, 2020 differ from the existing EIA Notification, 2006? (UPSC IAS/2020)

  • RBI Notifications

    90 years of the Reserve Bank of India (RBI)

    Why in the news?

    Recently, the RBI celebrated its 90th year in Mumbai, marking a significant milestone.

    Dr. Ambedkar’s Role in the Establishment of RBI:

    • Dr. B.R. Ambedkar’s contributions were particularly notable during the Hilton Young Commission discussions in 1926, where he presented his recommendations based on his book “The Problem of the Rupee – Its Origin and Its Solution.”
    • These discussions laid the foundation for the establishment of the RBI on April 1, 1935.

    About Reserve Bank of India (RBI)

    • The RBI is the central bank and monetary authority of India.
    • It was established on April 1, 1935, under the Reserve Bank of India Act, 1934.
    • Its idea was incepted from the recommendations of the Hilton Young Commission.
    • Sir Osborne Arkell Smith, an Australian, served as the inaugural Governor.
    • He was succeeded by Sir C D Deshmukh, the first Indian to hold the position.
    • It is a centralized institution for India to effectively regulate its monetary and credit policies.
    • RBI had its initial headquarters in Kolkata, later moving permanently to Mumbai in 1937.
    • Initially, the RBI operated as a privately owned entity until its full nationalization in 1949.

    Functions and Initiatives:

    • Monetary Authority: The RBI controls the supply of money in the economy to stabilize exchange rates, maintain a healthy balance of payment, and control inflation.
    • Issuer of Currency: Sole authority to issue currency and combat circulation of counterfeit notes.
    • Banker to the Government: Acts as a banker to both the Central and State governments, providing short-term credit and financial advisory services.
    • Lender of Last Resort: Provides emergency liquidity assistance to banks during crises.
    • Custodian of Foreign Exchange Reserves: Manages foreign exchange reserves and administers the Foreign Exchange Management Act, 1999 (FEMA).
    • Regulator and Supervisor of Payment and Settlement Systems: Oversees payment and settlement systems in the country, ensuring efficiency and security.
    • Credit Control and Developmental Role: Promotes credit availability to productive sectors and fosters financial infrastructure development.

    Transformative Reforms initiated by the RBI

    • Green Revolution (1960s-1970s): Supported agricultural growth through credit facilities and rural credit accessibility enhancements.
    • Banks Nationalization (1969): Aimed at aligning banking sector objectives with national policy goals.
    • Priority Sector Lending (1972): Ensures timely credit flow to key sectors of the economy.
    • Economic Liberalization (1991): Opened up the economy to global markets, fostering market-oriented growth.
    • Unified Payment Interface (UPI), 2016: Enabled seamless and instant transactions across India.
    • Inflation Targeting Framework, 2016: Set inflation targets to guide monetary policy decisions.
    • Bharat Bill Payment System (BBPS), 2019: Launched an integrated bill payment system for customer convenience.
    • Aadhar-based eKYC (2019): Streamlined customer authentication processes for financial institutions.
    • Emergency Credit Line Guarantee Scheme (ECLGS), 2020: Provided credit assistance to SMEs affected by the COVID-19 pandemic.
    • Central Bank Digital Currency (2022): RBI is actively exploring the issuance of a CBDC known as e₹ (digital Rupee).
    • Cryptocurrency Regulation (2022): RBI has maintained a consistent stance against cryptocurrencies, advocating for an outright ban on them (after China and El Salvador imposed the complete ban). In 2020, the Supreme Court of India removed the ban on cryptocurrencies imposed by RBI.
    • Payment Vision 2025 Document (2023): The goals and vision of the RBI, are categorised in the Payments Vision 2025 documents into five anchor goalposts – Integrity, Inclusion, Innovation, Institutionalisation and Internationalisation.

     

    PYQ:

    2012:

    The Reserve Bank of India (RBI) acts as a bankers’ bank. This would imply which of the following?

    1.    Banks retain their deposits with the RBI.

    2.    The RBI lends funds to the commercial banks in times of need.

    3.    The RBI advises the commercial banks on monetary matters.

    Select the correct answer using the codes given below:

    (a) 2 and 3 only

    (b) 1 and 2 only

    (c) 1 and 3 only

    (d) 1, 2 and 3

     

    2013: Consider the following statements: ​

    1.    The Governor of the Reserve Bank of India (RBI) is appointed by the Central Government.​

    2.    Certain provisions in the Constitution of India give the Central Government the right to issue directions to the RBI in public interest.​

    3.    The Governor of the RBI draws his power from the RBI Act.​

    Which of the above statements are correct?​

    (a) 1 and 2 only

    (b) 2 and 3 only

    (c) 1 and 3 only

    (d) 1, 2 and 3

  • Global Geological And Climatic Events

    Negative Leap Second: Climate Change’s Impact on Timekeeping

    Why in the news?

    • A recent publication in the science journal Nature highlights how climate change-induced melting of glaciers and ice sheets is altering the Earth’s rotation, potentially disrupting our timekeeping systems.
    • Leap seconds were added almost every year between 1972 and 1999 to adjust for Earth’s slowing rotation. But there have only been four added in the last 23 years, and the last time a leap second was added was in 2016.

    What is a Leap Second?

    • A leap second is a one-second adjustment that is occasionally applied to Coordinated Universal Time (UTC) in order to synchronize atomic time with astronomical time, particularly with the Earth’s rotation.
    • The purpose of adding or subtracting a leap second is to keep International Atomic Time (IAT) (which is extremely precise) in close alignment with astronomical time, which is based on the Earth’s rotation and is subject to slight variations.

    There are two types of leap seconds:

    1. Positive Leap Second:
      • A positive leap second is added to UTC when the Earth’s rotation slows down slightly, causing the length of a day to exceed 86,400 seconds.
      • This type of leap second is necessary to bring UTC back into alignment with the Earth’s rotational time.
      • Positive leap seconds are rare and occur less frequently than negative leap seconds.
    2. Negative Leap Second:
      • A negative leap second, also known as a deletion or removal of a second, occurs when the Earth’s rotation speeds up slightly, causing the length of a day to be less than 86,400 seconds.
      • Negative leap seconds are extremely rare and have only been proposed but never implemented. They are considered hypothetical and have not yet been needed to adjust UTC.
      • The concept of negative leap seconds is controversial and requires international agreement and coordination among timekeeping organizations.

    International Atomic Time (TAI)

     

    • TAI is a high-precision time scale based on the weighted average of atomic clocks (usually involving caesium or rubidium atoms) from various laboratories around the world.
    • It is one of the primary time scales used for scientific and technical purposes, providing a continuous and uniform time reference that is independent of the Earth’s rotation.
    • TAI is maintained since 1958 by the International Bureau of Weights and Measures (BIPM) in Paris, France.
    • Unlike UTC, which is adjusted periodically to account for the Earth’s irregular rotation, TAI is a continuous time scale that does not include any corrections for Earth’s rotation.

     

    How Climate Change causes Negative Leap Second?

    •  Glacial Melting: Accelerating melt rates in Greenland and Antarctica are redistributing weight across the planet, causing a slight deceleration in the Earth’s rotation.
    • Historical Context: Timekeepers have periodically added leap seconds to clocks worldwide to account for the Earth spinning faster than usual, with 27 instances recorded since the 1970s.
    • Planned Adjustment: The proposed “negative leap second” adjustment, scheduled for 2026, may be postponed until 2029 or later due to the recent deceleration in the Earth’s rotation.Top of Form

    Practice MCQ:

    What is a Leap Second?

    (a) It is a periodic adjustment added to International Atomic Time (TAI) to compensate for irregularities in Earth’s rotation.

    (b) It is an extra second added to Coordinated Universal Time (UTC) to synchronize atomic time with astronomical time.

    (c) It is the time lag measured by the atomic clocks in Outer Space-Time conditions.

    (d) It is a term used to describe the synchronization of atomic clocks with the oscillations of subatomic particles.

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