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Type: Prelims Only

  • UNESCO World Heritage Site of Somanathapura

    Why in the News?

    • Karnataka’s Tourism Department plans to highlight Somanathapura Temple, part of the Hoysala temples, in the Mysuru tourism circuit ahead of Dasara, leveraging its UNESCO World Heritage status.
    Note: There are 42 World Heritage Sites in India. Out of these, 34 are cultural, seven are natural, and one, Khangchendzonga National Park, is of mixed type.

    About Keshava Temple, Somanathapura

    • The Keshava Temple is considered one of the last grand structures built by the Hoysala dynasty.
    • This Trikuta (three-shrined) temple is dedicated to Lord Krishna and is represented in three forms: Janardhana, Keshava, and Venugopala. 
    • The main Keshava idol is missing, and the Janardhana and Venugopala idols are damaged.

    Historical Background:

    • The Keshava Temple was constructed by Somanatha, a commander of the Hoysala Army, during the reign of Hoysala King Narasimha III.
    • Somanatha, who had established a town named Somanathapura after himself, sought the king’s permission and resources to build this grand temple.
    • With the king’s blessing, construction commenced and was completed in 1268 AD.
    • An inscription in old Kannada on a stone slab in the temple provides details of its construction and consecration.
    • After demolitions by invaders, it no longer serves as a place of worship.

    Architecture:

    • The temple is constructed from soapstone, which allows for the fine detailing seen in the carvings.
    • It is built on a raised platform with an outer Pradakshina pathway, allowing devotees to circum-ambulate the sanctum.
    • The temple features a stellar (star-shaped) plan, which creates multiple corners and niches, providing numerous canvases for the sculptors to showcase their intricate work.
    • The temple has three shrines, each crowned with a Vimana (tower).
    • The Hoysala emblem, depicting a warrior fighting a lion, is prominently displayed.
    • The walls of the temple are adorned with beautiful friezes depicting scenes from Hindu epics, figures of elephants, and battle scenes with cavalry.

    Tap to read more about:

    UNESCO Heritage Status for Hoysala Temples in Karnataka

    PYQ:

    [2019] Building ‘Kalyana Mandapas’ was a notable feature in the temple construction in the kingdom of

    (a) Chalukya

    (b) Chandela

    (c) Rashtrakuta

    (d) Vijayanagara

    [2012] The Nagara, the Dravida and the Vesara are the:

    (a) three main racial groups of the Indian subcontinent

    (b) three main linguistic divisions into which the languages of India can be classified

    (c) three main styles of Indian temple architecture

    (d) three main musical Gharanas prevalent in India

    [2013] Chola architecture represents a high watermark in the evolution of temple architecture. Discuss.

  • India achieves an ‘outstanding outcome’ in FATF mutual evaluation 2023-24 

    Why in the News?

    • India has achieved an outstanding outcome in the 2023-24 Mutual Evaluation by the Financial Action Task Force (FATF).
      • India is placed in the “regular follow-up” category, a distinction shared by only four other G-20 countries.

    FATF Evaluation:

    The reason behind India’s Achievements

    • High Level of Compliance: The FATF stated that India reached a high level of technical compliance with its requirements.
    • Effective Regimes: India’s AML (anti-money laundering), CFT (countering the financing of terrorism), and CPF (counter-proliferation financing) regimes achieved good results.
    • International Cooperation: Notable achievements include international cooperation, access to basic and beneficial ownership information, use of financial intelligence, and depriving criminals of their assets.

    Need Improvement

    • Non-Financial Sectors: The FATF noted that improvements are needed to strengthen the supervision and implementation of preventive measures in some non-financial sectors.
    • Prosecution Delays: India needs to address delays in concluding ML (money laundering) and TF (terrorist financing) prosecutions.
    • Non-Profit Sector Risks: Ensure CFT measures prevent the non-profit sector from being abused for TF, including conducting outreach to NPOs on their TF risks.

    Mitigation Efforts taken

    • Mitigating ML/TF Risks: FATF recognized India’s efforts in mitigating risks from ML/TF, including corruption, fraud, and organized crime.
    • Digital Economy Transition: Effective measures have been implemented to transition from a cash-based to a digital economy, reducing ML/TF risks.
    • JAM Trinity Implementation: The JAM (Jan Dhan, Aadhaar, Mobile) Trinity, along with stringent cash transaction regulations, has increased financial inclusion and digital transactions, making them more traceable.

    About Financial Action Task Force (FATF)

    • FATF was established in 1989 through the initiative of the G7 nations.
    • Its Secretariat is headquartered at the OECD headquarters in Paris, France.
    • FATF conducts 3 Plenary meetings during each of its 12-month rotating presidencies.
    • As of 2019, FATF consists of 37 member jurisdictions.

    India’s Engagement with FATF

    • Observer Status: India became an Observer at FATF in 2006, marking the beginning of its association with the organization.
    • Full Membership: On June 25, 2010, India officially became the 34th country to attain full membership in FATF, signifying its active participation and commitment to the organization’s objectives.

    Understanding the Mutual Evaluation Process

    • FATF’s mutual evaluation assesses countries’ frameworks against money laundering and terrorist financing, reviewing compliance with its 40 recommendations and effectiveness, resulting in a report with strengths, weaknesses, and improvement suggestions.

    FATF’s Evaluation of India

    • Comprehensive Assessment: FATF’s evaluation of India encompasses various aspects, including the nation’s legal framework, regulatory system, law enforcement efforts, and international collaboration.
    • Alignment with Global Standards: Central agencies in India have been actively working to ensure that the country’s anti-money laundering and counter-terrorism financing laws align with international standards and that their practical implementation is effective.

    Back2Basics: FATF Grey and Black List

    FATF maintains two primary lists to identify countries with deficiencies in their anti-money laundering and counter-terrorist financing (AML/CTF) regimes: the Grey List and the Black List.

    Grey List (Jurisdictions under Increased Monitoring): 

    It includes countries that have strategic deficiencies in their AML/CTF regimes but have committed to resolving these issues swiftly within agreed timeframes. These jurisdictions are subject to increased monitoring by the FATF. Ex. Turkey, Panama etc. (Pakistan and UAE have exited this list.)

    Impact:

    • Countries on the Grey List are required to work closely with the FATF to address the identified deficiencies.
    • Being on the Grey List can lead to economic repercussions such as reduced foreign investment and increased scrutiny from financial institutions and regulators globally.
    • The FATF regularly reviews the progress of these countries and updates the list accordingly.

    Black List (High-Risk Jurisdictions subject to a Call for Action): 

    It includes countries with significant strategic deficiencies in their AML/CTF regimes and have not made sufficient progress in addressing these issues. These jurisdictions are subject to a call for action to protect the international financial system from the risks emanating from these countries.

    Impact:

    • Countries on the Black List face severe economic and financial consequences. They are subject to enhanced due diligence and, in the most serious cases, counter-measures by FATF member states.
    • This listing can result in limited access to the international financial system such as IMF, World Bank; reduced foreign investment, and increased difficulty in conducting international business.

    Current Black List Countries:

    • North Korea
    • Iran
    • Myanmar (Burma) (added in February 2023)

     

    PYQ:

    [2021] Discuss how emerging technologies and globalisation contribute to money laundering. Elaborate measures to tackle the problem of money laundering both at national and international levels.

  • Geoportals for Enhanced Rural Land Records and Emergency Management

    Why in the News?

    • The Union Ministry of Science and Technology launched two Geoportals: ‘Bhuvan Panchayat (Ver. 4.0)’ for rural land records and ‘National Database for Emergency Management (NDEM Ver. 5.0)’.
      • These portals were developed by the Indian Space Research Organization (ISRO).
      • These geospatial tools provide high-resolution satellite imagery of 1:10K scale for various locations across the country.

    About Bhuvan Panchayat (Ver. 4.0)

    • This portal supports “Space-based Information Support for Decentralized Planning (SISDP)”.
    • It aims to empower citizens at the grassroots level by providing real-time land record data and reducing dependency on local administration and corruption.
    • It promotes ease of living through digitalisation and better land revenue management.
    • By providing real-time data accessible to citizens, it reduces opportunities for corruption at the local level.
    • It enhances transparency and efficiency in land record management, aiding in effective governance and planning.

    About National Database for Emergency Management (NDEM Ver. 5.0)

    • This portal provides space-based inputs on natural disasters, aiding in disaster risk reduction in India and neighbouring countries.
    • It establishes an effective early warning system to proactively prevent disasters and monitor land use changes.
    • A command centre has been established to monitor situations and provide valuable inputs continuously.
    • The portal is designed to assist not only India but also neighbouring countries in disaster management.
    • It enhances coordination between various agencies and local authorities for effective disaster response and management.

    PYQ:

    [2023] With reference to the Digital India Land Records Modernisation Programme, consider the following statements :

    1. To implement the scheme, the Central Government provides 100% funding.
    2. Under the Scheme, Cadastral Maps are digitized.
    3. An initiative has been undertaken to transliterate the Records of Rights from local language to any of the languages recognized by the Constitution of India.

    Which of the statements given above are correct?

    (a) 1 and 2 only

    (b) 2 and 3 only

    (c) 1 and 3 only

    (d) 1, 2, and 3

  • Motor Neuron Disease (MND)

    Why in the News?

    The annual conference on Motor Neuron Disease (MND) ‘Awareness, Care and Management’ was held at NIMHANS.

    What is Motor Neuron Disease (MND)?

    • MND is a condition that affects the nerves in the brain and spinal cord, which are responsible for controlling your muscles.
    • Over time, these nerves (called motor neurons) stop working properly, leading to muscle weakness and wasting away.

    Types of MND:

    1. Amyotrophic Lateral Sclerosis (ALS): The most common type. It affects both upper and lower motor neurons, leading to weakness in various body parts.
    2. Progressive Bulbar Palsy (PBP): Affects the nerves in the brainstem, leading to problems with speaking and swallowing.
    3. Progressive Muscular Atrophy (PMA): Affects only the lower motor neurons, causing muscle weakness and wasting.
    4. Primary Lateral Sclerosis (PLS): Affects only the upper motor neurons, causing stiffness and movement difficulties.

    Causes of MND:

    • Genetic Factors: In some families, MND can be inherited due to specific gene mutations.
    • Environmental Factors: Exposure to certain toxins, viruses, or physical injuries might contribute, but this is less clear.
    • Age and Gender: It usually affects people between the ages of 50 and 70 and is slightly more common in men.

    Symptoms:

    • Muscle Weakness: Starts in one part of the body, like an arm or leg, and gradually spreads.
    • Muscle Cramps and Twitching: Small, involuntary muscle movements.
    • Difficulty Speaking and Swallowing: Due to weakness in the muscles used for these functions.
    • Breathing Problems: In advanced stages, muscles that control breathing can be affected.
    • Emotional Changes: Some people might experience changes in behavior or thinking.

    Diagnosis:

    • Clinical Examination: A doctor examines your symptoms and medical history.
    • Electromyography (EMG): Tests the electrical activity of your muscles.
    • Nerve Conduction Studies (NCS): Checks how well your nerves send signals.
    • MRI: Scans to rule out other conditions.
    • Genetic Testing: To check for inherited forms of MND.

    Treatment:

    There is no cure for MND, but treatments can help manage symptoms and improve quality of life.

    1. Medications:
      • Riluzole: Can slow down the progression of ALS.
      • Edaravone: Another drug that may slow down the decline in daily activities.
      • Symptomatic Treatments: For muscle cramps, excess saliva, and emotional symptoms.
    2. Therapies:
      • Physical Therapy: Helps maintain muscle strength and mobility.
      • Occupational Therapy: Aids in performing daily activities.
      • Speech Therapy: Assists with speech and swallowing difficulties.
      • Respiratory Therapy: Supports breathing issues.

    Back2Basics: National Institute of Mental Health and Neuro-Sciences (NIMHANS)

    Details
    Location Bangalore, India
    Affiliation Autonomous institute under the Ministry of Health and Family Welfare, Government of India
    Ranking Ranked 4th best medical institute in India by the “National Institutional Ranking Framework (NIRF)”
    History
    • Founded in 1847 as the Bangalore Lunatic Asylum.
    • Renamed as the Mental Hospital in 1925.
    • Amalgamated with the All India Institute of Mental Health (AIIMH) in 1974 to form NIMHANS.
    • Conferred with deemed university status by the University Grants Commission in 1994.
    • Declared an Institute of National Importance by an act of parliament in 2012.
    Governance
    • Operates with academic autonomy under the “Societies Registration Act, 1860”.
    • Prioritises service, manpower development, and research in mental health and neurosciences.
    • A multidisciplinary integrated approach was adopted for translating research results into practice.
    Funding Receives resources for academic and research activities from national and international funding organisations.
    Outreach
    • Engages in mental health outreach initiatives including critiquing mental health reports and collaborating with government agencies for training and counseling.
    • Known for diagnosing and treating various mental health conditions including depression and neurobiological disorders.

  • Controversy over Sengol in Lok Sabha 

    Why in the News?

    • An opposition parliamentarian has demanded the removal of the Sengol from the Lok Sabha, calling it a symbol of “rajdand/rajtantra (monarchy)”.This demand has become a point of contention between the government and the Opposition.

    What is a Sengol?

    • A sengol (or chenkol) is a royal sceptre symbolizing kingship, righteousness, justice, and authority.
    • It is a traditional Chola-era symbol of authority and governance, originally from Tamil Nadu.
    • It is a golden sceptre, richly adorned and crafted with intricate designs, reflecting the grandeur of ancient Tamil culture.
    • Among the Madurai Nayakas, the sengol was placed before the goddess Meenakshi in the temple and then transferred to the throne room, representing the king’s role as a divine agent.

    Significance in the present context: 

    • Accountability and Legitimacy: Just as the Sengol legitimized ancient rulers by holding them accountable to higher moral standards, the institutions and practices in a parliamentary democracy ensure that elected representatives are accountable to the constitution and the people.
    • Ethical Leadership: Leaders in a democracy are expected to uphold justice, integrity, and the rule of law, much like the dharmic kings of the past.
    • Symbolic Representation: The Sengol, as a symbol of righteous rule, parallels the symbolic importance of democratic institutions that represent the will and welfare of the people.
    1947 Sengol Ceremony Involving Nehru

    • Government’s Claim: The government claims C Rajagopalachari suggested the ceremony to Nehru.
      • This claim is debated, as there is little contemporary evidence to support the Sengol being a key symbol of power transfer in 1947.
    • Lack of Comprehensive Records: There are limited records about the ceremony where Nehru was reportedly handed a sengol by Hindu leaders from Tamil Nadu.
    • Undocumented: The event is not widely documented, and claims of Lord Mountbatten handing it over ceremonially seem exaggerated.
    • No Symbolization: Nehru accepted the Sengol as a mark of honor, but it was later placed in a museum, indicating it was not central to the transfer of power.

  • RBI releases the 29th Financial Stability Report, 2024

    Why in the News?

    The Reserve Bank of India has released the 29th issue of the Financial Stability Report (FSR).

    About Financial Stability Report:

    • The FSR is published biannually by the RBI.
    • It reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC – headed by the Governor of RBI) on risks to financial stability and the resilience of the financial system.
    • The Report also discusses issues relating to the development and regulation of the financial sector.

    Key Highlights of the FSR

    [1] Global Economic Context

    • Heightened Global Risks: The global economy faces significant challenges, such as:
      • Geopolitical Tensions: Conflicts or political disagreements between countries that can affect global stability.
      • Elevated Public Debt: Many countries owe large amounts of money, which can be risky if they struggle to repay it.
      • Slow Progress in Disinflation: Prices of goods and services are not decreasing quickly, which can affect economic stability.
    • Resilience: Despite these challenges, the global financial system (how money moves around the world) remains strong and stable.

    [2] Indian Economy and Financial System

    • Robust and Resilient: India’s economy and financial system are strong and able to handle shocks or problems.
    • Banking Sector Support: Banks and financial institutions (like insurance companies) are in good health and are lending money to support economic activities.

    [3] Financial Metrics for Scheduled Commercial Banks (SCBs)

    • Capital Ratios:
      • Capital to Risk-Weighted Assets Ratio (CRAR): This is a measure of a bank’s financial strength. A CRAR of 16.8% means that for every 100 units of risk, the bank has 16.8 units of capital to cover potential losses.
      • Common Equity Tier 1 (CET1) Ratio: This is a stricter measure of a bank’s core capital. A CET1 ratio of 13.9% means the bank has a strong base of high-quality capital.
    • Asset Quality:
      • Gross Non-Performing Assets (GNPA) Ratio: This measures the percentage of a bank’s loans that are not being repaid. A GNPA ratio of 2.8% means that 2.8% of the total loans are in trouble.
      • Net Non-Performing Assets (NNPA) Ratio: This is similar to GNPA but considers the money the bank has already set aside to cover bad loans. An NNPA ratio of 0.6% means that 0.6% of the total loans, after accounting for provisions, are in trouble.

    [4] Macro Stress Tests for Credit Risk

    • Stress Scenarios and Projections:
      • Baseline Scenario: Under normal conditions, banks are expected to have a CRAR of 16.1% by March 2025.
      • Medium Stress Scenario: Under moderate stress, banks are expected to have a CRAR of 14.4% by March 2025.
      • Severe Stress Scenario: Under severe stress, banks are expected to have a CRAR of 13.0% by March 2025.
    • Interpretation: These tests show how banks might perform under different levels of economic stress. They are hypothetical scenarios to ensure banks are prepared for tough times.

    [5] Health of Non-Banking Financial Companies (NBFCs)

    • CRAR: NBFCs have a CRAR of 26.6%, indicating they are financially strong.
    • GNPA Ratio: NBFCs have a GNPA ratio of 4.0%, meaning 4% of their loans are not being repaid.
    • Return on Assets (RoA): NBFCs have a RoA of 3.3%, indicating they are making good profits from their assets.

    PYQ:

    [2016] With reference to ‘Financial Stability and Development Council’, consider the following statements:

    1. It is an organ of NITI Aayog.

    2. It is headed by the Union Finance Minister.

    3. It monitors macroprudential supervision of the economy.

    Which of the statements given above is/are correct?

    (a) 1 and 2 only

    (b) 3 only

    (c) 2 and 3 only

    (d) 1, 2 and 3

  • Himalayan Serow recorded at Assam’s Raimona National Park

    Why in the News?

    • A mainland serow aka. Himalayan Serow (Capricornis sumatraensis thar) was recorded at 96 metres above mean sea level in Raimona National Park, Assam.
      • This is the lowest elevation recorded for the species beyond Bhutan, its natural habitat.

    About Himalayan Serow

    Details
    About Herbivore species.

    Also known as Thar.

    Resembles a cross between a goat, a donkey, a cow, and a pig.
    Recognition Official state animal of Mizoram.
    Distribution
    • Found at altitudes between 2,000 metres and 4,000 metres (6,500 to 13,000 feet).
    • Found across the India-Bhutan border in Phibsoo Wildlife Sanctuary and Royal Manas National Park.
    • Present in eastern, central, and western Himalayas, but not in the Trans Himalayan region.
    Conservation Status
    • IUCN Red List: Vulnerable
    • CITES: Appendix I
    • The Wildlife Protection Act, 1972: Schedule I

     

    Back2Basics:  Raimona National Park 

    • Raimona National Park is a newly established protected area located in the Bodoland Territorial Region (BTR) of Assam.
    • It was officially declared a national park in June 2021, becoming the sixth national park in the state of Assam.
    • It shares its northern boundary with Bhutan, forming part of the transboundary conservation landscape.
    • It is characterised by dense forests, rivers, and grasslands. The park is part of the greater Manas Biosphere Reserve and serves as an extension of the Manas National Park.
    • The area is interspersed by the Sankosh River which flows through the park.

    Flora and Fauna:

    • Flora: The park boasts a rich biodiversity with various types of vegetation, including semi-evergreen forests, mixed deciduous forests, and patches of grassland.
    • Fauna: Hosts a variety of wildlife, including:
      • Mammals: Asian elephants, tigers, clouded leopards, golden langurs, Indian gaur, and several species of deer.
      • Birds: Home to numerous bird species, including hornbills, great pied hornbills, and various migratory birds.
      • Reptiles and Amphibians: The park also supports a diverse range of reptiles and amphibians, adding to its ecological richness.

     

    PYQ:

    [2011] The Himalayan Range is very rich in species diversity. Which one among the following is the most appropriate reason for this Phenomenon?

    (a) It has a high rainfall that supports luxuriant vegetative growth

    (b) It is a confluence of different bio-geographical zones.

    (c) Exotic and invasive species have not been introduced in this region.

    (d) It has less human interference.

  • [pib] Launching of LSAM 20 (Yard 130)  

    Why in the News?

    The Indian Navy has inducted the ‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 20 (Yard 130) into its fleet.

    What is LSAM 20?

    • LSAM 20 (Yard 130) is the Ammunition Cum Torpedo Cum Missile Barge (Storage) inducted by the Indian Navy.  (built by MSME Shipyard, M/s Suryadipta Projects Pvt Ltd, Thane).
    • LSAM 20 facilitates transportation, embarkation, and disembarkation of articles/ammunition to IN Ships.
    • These Barges are indigenously designed and built under relevant Naval Rules and Regulations of the Indian Register of Shipping.

    Objective 

    • A Torpedo Cum Missile Barge is a specialized vessel used by the Indian Navy to transport various types of ammunition, torpedoes, and missiles to operational areas. 
    • These barges play a crucial role in providing logistical support to naval vessels by ensuring the uninterrupted transportation of essential military supplies. 
    PYQ:

    [2016] Which one of the following is the best description of ‘INS Astradharini’, that was in the news recently?

    (a) Amphibious warfare ship

    (b) Nuclear-powered submarine

    (c) Torpedo launch and recovery vessel

    (d) Nuclear-powered aircraft carrier

    Practice MCQ:

    What is the primary function of LSAM 20 (Yard 130) recently inducted by the Indian Navy?

    a) Transportation of personnel

    b) Transporting ammunition, torpedoes, and missiles

    c) Search and rescue operations

    d) Underwater surveillance

     

  • RBI’s New Guidelines for Asset Reconstruction Companies (ARCs)

    Why in the news?

    The RBI has introduced updated guidelines for Asset Reconstruction Companies (ARCs) through a master direction, effective from April 24, 2024.

    What is an Asset Reconstruction Company (ARC)?

    Description
    About ARC is a special financial institution that acquires debtors from banks at a mutually agreed value and attempts to recover the debts or associated securities.
    Regulation ARCs are registered under the RBI.

    Regulated under the SARFAESI Act, 2002 (Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act).
    Objective ARCs take over a portion of the bank’s non-performing assets (NPAs) and engage in asset reconstruction or securitization, aiming to recover the debts.
    Functions Asset Reconstruction: Acquisition of bank loans or other credit facilities for realization. 

    Securitization: Acquisition of financial assets by issuing security receipts.
    Foreign Investment 100% FDI allowed in ARCs under the automatic route.
    Limitiations ARCs are prohibited from undertaking lending activities. 

    They can only engage in securitization and reconstruction activities.
    Working Bank with NPA agrees to sell it to ARC at a mutually agreed value. 

    ARC transfers assets to trusts under SARFAESI Act. 

    Upfront payment made to bank, rest through Security Receipts. 

    Recovery proceeds shared between ARC and bank.
    Security Receipts Issued to Qualified Institutional Buyers (QIBs) for raising funds to acquire financial assets.
    Significance Banks can clean up their balance sheets and focus on core banking activities. 

    Provides a mechanism for resolution of NPAs and debt recovery.

     

    What are the new guidelines laid out by the RBI?

    • Enhanced Capital Requirements:
        • Minimum Capital Requirement Increase: ARCs are now mandated to maintain a minimum capital requirement of Rs 300 crore, a significant increase from the previous Rs 100 crore stipulation established on October 11, 2022.
        • Transition Period for Compliance: Existing ARCs are granted a transition period to reach the revised Net Owned Fund (NOF) threshold of Rs 300 crore by March 31, 2026.
        • Interim Requirement: However, by March 31, 2024, ARCs must possess a minimum capital of Rs 200 crore to comply with the new directives.
    • Supervisory Actions for Non-Compliance:
        • ARCs failing to meet the prescribed capital thresholds will face supervisory action, potentially including restrictions on undertaking additional business until compliance is achieved.
    • Expanded Role for Well-Capitalized ARCs:
      • Empowerment of Well-Capitalized ARCs: ARCs with a minimum NOF of Rs 1000 crore are empowered to act as resolution applicants in distressed asset scenarios.
      • Investment Opportunities: These ARCs are permitted to deploy funds in government securities, scheduled commercial bank deposits, and institutions like SIDBI and NABARD, subject to RBI specifications. Additionally, they can invest in short-term instruments such as money market mutual funds, certificates of deposit, and corporate bonds commercial papers.
      • Investment Cap: Investments in short-term instruments are capped at 10% of the NOF to mitigate risk exposure.

    PYQ:

    [2018] With reference to the governance of public sector banking in India, consider the following statements:

    1. Capital infusion into public sector banks by the Government of India has steadily increased in the last decade.
    2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.

    Which of the statements given above is/are correct?

    (a) 1 only 

    (b) 2 only 

    (c) Both 1 and 2 

    (d) Neither 1 nor 2

     

  • Why the Thar Desert on the borders of India and Pakistan is getting greener?

    Why in the news?

    Rajasthan’s barren Thar Desert may turn green, says a recent study in the journal Earth’s Future.  

    About Thar Desert

    • The Thar Desert is the 18th largest subtropical desert globally and is one of the most densely populated deserts.
    • Approximately 40% of the human population in Rajasthan resides in the Thar Desert.
    • It extends from the Sutlej River and is bounded by the Rann of Kutch, the Aravalli Mountains, and the Indus River.
    • About 85% of the Thar Desert is located in India, with the remainder in Pakistan. 
    • In India, it spans across Rajasthan, Gujarat, Haryana, and Punjab as well.
    • Civilizations are believed to have thrived in the Thar region around 50,000 years ago across the extinct Saraswati River.
    • The Desert National Park (home to the endangered Great Indian Bustard, desert fox, desert cat, blackbuck, and Indian gazelle) is situated in the Thar Desert in the northwest Indian state of Rajasthan.

    Why the thar desert getting greener?

    • Climate Change Effects:
        • Alteration of Weather Patterns: Climate change is causing shifts in rainfall distribution in the thar desert area.
        • Potential for Vegetation Growth: The increased precipitation could provide favorable conditions for vegetation growth, contributing to the greening of the desert.
    • Indian Monsoon Dynamics:
        • Westward Extension of Indian Monsoon: The Indian monsoon, known for bringing heavy rainfall to eastern India, is now extending further westward into regions like the Thar Desert.
        • Impact on Moisture and Rainfall: This change in monsoon dynamics could lead to increased moisture and rainfall in the desert region, facilitating the growth of vegetation.
    • Expansion of Indian Ocean Warm Pool (IOWP):
        • Influence on Monsoon Patterns: The Indian Ocean Warm Pool (IOWP) influences monsoon patterns and rainfall distribution over the Indian subcontinent.
        • Westward Expansion due to Climate Change: Climate change is causing the IOWP to expand westward, potentially resulting in increased rainfall over semi-arid regions like the Thar Desert and promoting greening.
    • Water Management Practices:
        • Contribution to Greening: Effective water management practices, such as rainwater harvesting and irrigation techniques like johad, kuis, and kunds, may be playing a role in the greening of the Thar Desert.
        • Utilization of Water Resources: By harnessing and efficiently utilizing available water resources, local communities and authorities can support vegetation growth and ecosystem restoration efforts in the desert.
    • Introduction of Irrigation  
      • Commercial Cropping: Irrigation was introduced during British colonial rule in the 19th and 20th centuries to convert arid and semi-arid ecosystems into cropland.
      • Restrictions on Grazing: The right to graze animals was restricted to landowners who cultivated crops, leading to the transformation of nomadic pastoralists into sedentary agropastoralists.
    Sustainability of this transformation

    • Recent greening activities, largely on arid scrub savannahs, have threatened species adapted to such climates and have been linked to locust outbreaks.
    • The Indira Gandhi Canal project in the 1980s led to extensive crop cover in the Thar Desert, resulting in areas becoming infertile due to waterlogging and salinity.
    • Planting invasive species, such as prosopis juliflora and acacia tortilis, has led to habitat degradation and biodiversity loss.

     

    PYQ:

    [2018] Which of the following leaf modifications occur(s) in the desert areas to inhibit water loss?

    1. Hard and waxy leaves
    2. Tiny leaves
    3. Thorns instead of leaves

    Select the correct answer using the code given below:

    (a) 2 and 3 only

    (b) 2 only

    (c) 3 only

    (d) 1, 2 and 3

    [2020] The process of desertification does not have climate boundaries. Justify with examples.

    [2013] Major hot deserts in northern hemisphere are located between 20-30 degree north and on the western side of the continents. Why?