Type: Prelims Only

Blaze Star: A Celestial Phenomenon in the Making

Why in the News?

NASA predicts the dim star T Coronae Borealis will become visible to the naked eye by September 2024, reaching brightness comparable to Polaris.
- A dim star known as the “Blaze Star,” officially designated as T Coronae Borealis (T CrB), located 3,000 light-years from our solar system, is set to become visible to the naked eye for the first time since 1946.

About the Blaze Star

The Blaze Star located in the constellation Corona Borealis, also known as the “Northern Crown,” is situated between the constellations of Bootes and Hercules.
To locate Corona Borealis, begin by identifying prominent stars in the summer night sky, such as those of the Big Dipper.

Understanding the Blaze Star Phenomenon

The Blaze Star is a rare recurrent nova, a binary star system comprising a cool, red giant star and a smaller, hotter white dwarf star in orbit around each other.
Every 80 years, the red giant transfers matter onto the white dwarf, triggering explosive phenomena.
Historical observations suggest the Blaze Star is on the brink of another explosion, following similar brightness patterns observed before previous eruptions in 1866 and 1946.
- Precursor Signs: The star has been steadily brightening since 2015, followed by a visible dimming in March 2023, mirroring past eruption precursors.

Implications for Observation

Peak Visibility: During its brightness peak, the Blaze Star is expected to be visible to the naked eye for several days, extending to just over a week with stargazing binoculars or a small telescope.
Astronomical Insights: The impending eruption offers a unique opportunity for astronomers to observe and study this celestial event, providing valuable insights into stellar evolution and dynamics.

PYQ:

[2013] Consider the following phenomena

1. Size of the sun at dusk

2. Colure of the sun at dawn

3. Moon being visible at dawn

4. Twinkle of stars in the sky

5. Polestar being visible in the sky

Which of the above are optical illusions?

(a) 1, 2 and 3

(b) 3, 4 and 5

(d) 2, 3 and 5

June 6, 2024

Neo: A Novel Protein in Bacterial Defense

Why in the News?

“Klebsiella pneumoniae” bacteria might employ a newly discovered protein called “Neo” to halt bacteriophage infections.

About Neo Protein

Discovery Details: Researchers, led by Stephen Tang and Samuel Sternberg, reported the discovery of Neo in a 2023 preprint paper on bioRxiv, while investigating Klebsiella pneumoniae.
Neo’s Defense Strategy: Bacteria employ diverse immune systems to fend off viral infections, including defense-associated reverse transcriptase (DRT) systems, which Neo is a part of.
- DRT-2 System: This system involves de novo gene synthesis via rolling-circle reverse transcription (RT) of a non-coding RNA (ncRNA).
- Operational Process: In uninfected cells, the ncRNA and RT enzyme catalyze the synthesis of a repetitive single-stranded cDNA.
- Activation by Phage: Phage presence triggers the synthesis of the second-strand cDNA, resulting in long double-stranded DNA.
- Role of Neo Protein: The translation of this double-strand cDNA produces the Neo protein, which induces potent growth arrest (cell dormancy), thereby protecting the bacterial population from phage proliferation.

Biotechnological and Medical Implications

Potential Applications: Neo represents a promising tool for controlling viral infections, holding significance in both biotechnology and medicine.
Evolutionary Connections: Neo’s discovery sheds light on the shared evolutionary history and functional mechanisms of retroelements in the human genome and bacterial reverse transcriptases.
Technological Influence: Bacterial reverse transcriptases, predecessors of their eukaryotic counterparts, share analogous mechanisms and have revolutionized molecular biology research methods.

What is Reverse Transcriptase?

Reverse transcription, the conversion of RNA into DNA, is facilitated by the enzyme reverse transcriptase.
Discovered by Howard Temin and David Baltimore in 1970, reverse transcriptase has transformed molecular biology research, particularly in studying RNA viruses like HIV.
- Practical Applications: Reverse transcriptase is instrumental in gene cloning, PCR techniques, genome analysis, and viral load detection in diagnostics, such as the case of SARS-2, aiding in virus surveillance, healthcare management, and vaccine development efforts.

PYQ:

[2019] What is Cas9 protein that is often mentioned in the news?

(a) A molecular scissors used in targeted gene editing.

(b) A biosensor used in the accurate detection of pathogens in patients.

(d) A herbicidal substance synthesized in genetically modified crops.

June 6, 2024

Netherlands becomes India’s 3rd Largest Export Destination in 2023-24

Why in the News?

During fiscal year 2023-24, the Netherlands emerged as India’s third-largest export market, with a trade surplus expanding to $17.4 billion.

India’s Trade with the Netherlands

Key Export Commodities: Notable export items to the Netherlands include petroleum products ($14.29 billion), electrical goods, chemicals, and pharmaceuticals, showcasing robust growth in these sectors.
Continual Expansion: India’s exports to the Netherlands have steadily risen by approximately 3.5% to reach $22.36 billion in 2023-24, illustrating sustained growth momentum.
Mutual Investment: The Netherlands is a significant investor in India, with foreign direct investment (FDI) amounting to about $5 billion during the last fiscal.
Corporate Presence: Over 200 Dutch companies, including industry giants like Philips, Akzo Nobel, and KLM, operate in India, while Indian firms like TCS, HCL, and Sun Pharmaceuticals have a substantial presence in the Netherlands.

Shift in Trade Dynamics

Outpacing Major Destinations: The Netherlands has surpassed traditional trade partners such as the U.K., Hong Kong, Bangladesh, and Germany in terms of India’s export focus.
Long-term Growth: Export figures have shown consistent growth since 2000-01 when India’s exports to the Netherlands were a mere $880 million.

Significance: Gateway to Europe

Strategic Positioning: The Netherlands’ efficient ports and extensive connectivity with the EU via roads, railways, and waterways have positioned it as a vital gateway to the European market.
Strong Ties: Diplomatic relations between India and the Netherlands, established in 1947, have evolved into robust political, economic, and commercial partnerships.

India’s Trade Dynamics

Export Figures:

Forecasted to reach approximately US$776.68 billion in FY 2023–24.
Slightly surpassed the US$776.40 billion recorded in the previous fiscal year.
Concluded with the highest monthly merchandise exports of US$41.68 billion in March 2024.

Import Figures:

Total goods imports decreased by 5.66 percent to US$675.44 billion.

Global Merchandise Export Ranking:

India advanced from 19th to 17th place.
Marginal increase in share from 1.70 percent in 2014 to 1.82 percent in 2023.
Exported to 115 countries out of a total of 238 destinations during FY 2023-24.

Key Export Markets:

Include the US, UAE, Netherlands, China, UK, Saudi Arabia, Singapore, Bangladesh, Germany, and Italy.
Represent 46.5 percent of India’s export portfolio.

Diversification Strategy:

Focus on expanding beyond traditional sectors like iron ore and agricultural commodities.
Target sectors include electronics, pharmaceuticals, engineering products, and food items.
Plan to introduce goods such as alcoholic beverages, prepared meals, confectioneries, jackfruit, and bananas.
Emphasis on market research and analysis for product customization.

Trade Partners:

China emerged as India’s largest trading partner, surpassing the US.
Bilateral trade with China totalled US$118.4 billion in FY 2023-24.
Bilateral trade with the US amounted to US$118.3 billion in the same period.
India’s exports to China increased by 8.7 percent in FY24, driven by various sectors.
Imports from China rose moderately, totalling US$101.7 billion.

(Source of Data: Ministry of Commerce and Industry, Department of Commerce)

PYQ:

[2013] The balance of payments of a country is a systematic record of:

(a) All import and export transactions of a country during a given period of time, normally a year.

(b) Goods exported from a country during a year.

(d) Capital movements from one country to another.

June 6, 2024

Tele MANAS cell for Armed Forces

Why in the News?

The Ministry of Health and Family Welfare (MoHFW) and the Ministry of Defence (MoD) have entered into a Memorandum of Understanding (MoU) to foster collaboration in operating a special cell of Tele MANAS.
- This collaboration, spanning two years, aims to establish a pilot project at the Armed Forces Medical College in Pune.

Suicides and Fratricides in Armed Forces: A Global Issue

As per information given in Parliament in April 2022, there were two cases of fratricide each year from 2019 to 2021 and one case in 2021.
In an older reply in Rajya Sabha on suspected suicide cases in the Army, the Government informed that during the years 2016 to 2018 there were 104, 75 and 80 cases, respectively.
A 2018 study correlated extended deployment to a 15% increased suicide risk in the U.S. military, the U.S. Department of Defence recorded 503 suicides among active-duty personnel in 2019.
Common reasons that forces an individual to take extreme steps are:
- Family issues,
- Family separation,
- Prolonged deployment in difficult areas,
- Continuous exposure to hazardous situations,
- Traumas originated in Counter Insurgency or Counter Terrorism operations and
- Wide range of Human Resource management issues.
Preventive Measures: The Army in its latest advisory issued in August 2023 stated that officers and religious teachers – at least one Pandit, Maulvi, Granthi or Pastor – are posted in each unit and selected other ranks are being trained on the nuances of counselling.

What is the Tele MANAS Initiative?

Tele MANAS, or Tele Mental Health Assistance and Networking across States, stands as India’s National Tele Mental Health Programme.
It is envisioned as the digital extension of the District Mental Health Programme (DMHP).
Its announcement came in the Union Budget of 2022.
The Ministry of Health and Family Welfare (MoHFW) serves as the nodal agency overseeing its implementation.
The primary aim is to ensure universal access to equitable, accessible, affordable, and high-quality mental health care through round-the-clock tele-mental health services.
The International Institute of Information Technology, Bengaluru, serves as the technology partner.
The nodal centre for Tele MANAS operations is located at NIMHANS, Bengaluru.
The National Health Systems Resource Centre operates within the health system domain.
Helpline numbers for assistance are 14416 and 18008914416.
The implementation structure comprises two tiers:

Tier 1: Consists of State Tele MANAS cells comprising trained counsellors and mental health specialists,
Tier 2: Comprises resources from the District Mental Health Program (DMHP) and medical colleges.

Reach and Impact

Nationwide Presence: Currently, 51 operational Tele MANAS cells operate across all 36 States and UTs, delivering services in 20 diverse languages.
Remarkable Response: Since its inception in October 2022, Tele MANAS has received over 10 lakh calls and manages a daily average of more than 3,500 calls.

National Mental Health Programme (NMHP):

The NMHP was launched by the Government of India in 1982.
It was initiated to address the significant burden of mental disorders in the population.
Mental disorders affect approximately 6-7% of the population in India.
- Objectives of NMHP: Ensuring the availability and accessibility of minimum mental healthcare to all, particularly the vulnerable and underprivileged sections of the population.
As part of NMHP, the District Mental Health Program (DMHP) was introduced in 1996 during the IX Five Year Plan based on the ‘Bellary Model’:
- The Bellary Model emphasizes the importance of early detection, short-term training for physicians, and health worker training in identifying individuals with mental health issues.

PYQ:

[2023] Why suicide among young women is increasing in Indian society?

June 6, 2024

[pib] CSIR’s PI-CHeCK Project

Why in the News?

The Council of Scientific and Industrial Research (CSIR) celebrated the completion of the initial phase of its groundbreaking health monitoring project, ‘Phenome India-CSIR Health Cohort Knowledgebase’ (PI-CHeCK).

What is Phenome?

The human phenome refers to the comprehensive set of observable physical and biochemical traits, behaviours, and characteristics exhibited by an individual as influenced by genetics, environment, and lifestyle.
It encompasses a wide range of attributes, including but not limited to:

Physical characteristics such as height, weight, eye colour, hair colour, facial features, and body shape.
Biological functions and processes like metabolism, hormone levels, blood pressure, and immune response.
Behavioral traits include personality traits, cognitive abilities, temperament, and mental health conditions.
Disease susceptibility and health outcomes, such as the presence or absence of genetic disorders, chronic illnesses, and response to medical treatments.
Environmental factors such as diet, exercise habits, exposure to toxins, socioeconomic status, and cultural influences.

What is the PI-CHeCK Project?

PI-CHeCK launched on Dec 7, 2023, assesses risk factors for cardio-metabolic disorders in the Indian population.
‘Phenome India’ health check-up camp targets CSIR employees, pensioners, and spouses across 17 states, and 24 cities.
Nearly 10,000 volunteers provide comprehensive health data.

Objectives:

Developing India-Specific Algorithms: The project highlights the necessity of developing risk prediction algorithms tailored to India’s diverse genetic and lifestyle landscape, as existing algorithms may not accurately represent the Indian population.
Advancing Precision Medicine: CSIR’s commitment to advancing precision medicine is evident through the project’s focus on Predictive, Personalized, Participatory, and Preventive healthcare.
Catalyzing Nationwide Initiatives: By generating a comprehensive phenome database, PI-CHeCK aims to catalyze similar initiatives nationwide, ensuring more accurate risk prediction algorithms for India’s diverse population.

PYQ:

[2021] “Besides being a moral imperative of a Welfare State, primary health structure is a necessary precondition for sustainable development.” Analyse.

[2018] Appropriate local community-level healthcare intervention is a prerequisite to achieve ‘Health for All’ in India. Explain.

[2011] Aspartame is an artificial sweetener sold in the market. It consists of amino acids and provides calories like other amino acids. Yet, it is used as a low-calorie sweetening agent in food items. What is the basis of this use?

(a) Aspartame is as sweet as table sugar, but unlike table sugar, it is not readily oxidized in human body due to the lack of requisite enzymes.

(b) When aspartame is used in food processing, the sweet taste remains, but it becomes resistant to oxidation.

(c) Aspartame is as sweet as sugar, but after ingestion into the body, it is converted into metabolites that yield no calories.

(d) Aspartame is several times sweeter than table sugar, hence food items made with small quantities of aspartame yield fewer calories on oxidation.

June 5, 2024

[pib] FSSAI Directive on Fruit Juices

Why in the News?

FSSAI has mandated the immediate removal of any claims stating ‘100% fruit juices’ from labels and advertisements of reconstituted fruit juices by all Food Business Operators (FBOs).
- FBOs must utilize existing pre-printed packaging materials before September 1, 2024, to comply with the directive.

Compliance Guidelines on Fruit Juices

Products falling under this standard must be labelled as per the Food Safety and Standards (Labelling and Display) Regulations, 2020.
The term “reconstituted” must be specified in the ingredient list for juices reconstituted from concentrate.
Additionally, if the product contains added nutritive sweeteners exceeding 15 gm/kg, it must be labelled as ‘Sweetened juice’.

Issues with such ‘Sweetened juice’

Misleading Marketing Practices: FSSAI has observed numerous FBOs inaccurately labelling various types of reconstituted fruit juices as 100% fruit juices.
Regulatory Assessment: Upon evaluation, FSSAI determined that such claims are misleading, especially when the major ingredient is water, and the primary ingredient is present in limited concentrations or when the juice is reconstituted using water and fruit concentrates or pulp.

About Food Safety and Standards Authority of India (FSSAI)

The FSSAI is an autonomous body established under the Ministry of Health & Family Welfare, Government of India.
It was established under the Food Safety and Standards Act, of 2006, which consolidates various acts and orders that have hitherto handled food-related issues in various ministries and departments.
FSSAI is responsible for protecting and promoting public health through the regulation and supervision of food safety.

Functions of FSSAI include:

Setting Standards: FSSAI sets standards for food products and regulates their manufacture, storage, distribution, sale, and import, to ensure that food items are safe for consumption.
Licensing and Registration: FSSAI grants licenses and registrations to food businesses based on their compliance with food safety standards and regulations.
Inspections and Monitoring: FSSAI conducts inspections, surveillance, and monitoring of food products and food businesses to ensure compliance with food safety standards.
Awareness and Education: FSSAI works towards creating awareness about food safety and hygiene among food businesses and consumers. It provides information and education programs to promote safe food handling practices.
Research and Development: FSSAI undertakes research and development activities related to food safety and standards.

Health Awareness Initiatives by FSSAI

“Heart Attack Rewind”: This is FSSAI’s inaugural mass media campaign, designed to support its goal of eliminating trans-fat from India by 2022.
FSSAI-CHIFSS Collaboration: FSSAI has partnered with the CII-HUL Initiative on Food Safety Sciences to foster collaborations between industry, the scientific community, and academia to enhance food safety.
State Food Safety Index (SFSI): Developed by FSSAI, the SFSI evaluates states’ performance on five key parameters of food safety: Human Resources and Institutional Data, Compliance, Food Testing Infrastructure and Surveillance, Training & Capacity Building, and Consumer Empowerment.
Eat Right India Movement: This is a joint initiative by the Government of India and FSSAI aimed at revolutionizing the country’s food system to ensure safe, healthy, and sustainable food for all citizens.
Eat Right Station Certification: FSSAI awards this certification to railway stations that meet the benchmarks outlined in the Food Safety and Standards Act, 2006, ensuring the provision of safe and wholesome food to passengers.

PYQ:

[2018] Consider the following statements:

The Food Safety and Standards Act, 2006 replaced the Prevention of Food Adulteration Act, 1954.
The Food Safety and Standards Authority of India (FSSAI) is under the charge of Director General of Health Services in the Union Ministry of Health and Family Welfare.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(d) Neither 1 nor 2

June 5, 2024

What is Greedflation?

Why in the News?

Political campaigns highlight inequality in India. Accusations suggest billionaires amass wealth through monopolistic control, dictating prices and suppressing real wages.

Monopoly Power and Economic Dynamics

Monopoly Influence: Billionaires often amass wealth through monopolistic control, enabling them to dictate prices and suppress real wages.
Consumption Conundrum: Higher mark-ups under monopolies lead to reduced real wages and diminished consumption power, hindering economic growth and investment.
Greedflation Impact: The phenomenon of “Greedflation,” where companies raise prices to bolster profit margins amidst multiple demand-and-supply shocks, exacerbates inflationary pressures, particularly observed in developed economies.

So what is Greedflation?

Definition: Greedflation, in essence, signifies that corporate greed is driving inflation, rather than the traditional wage-price spiral, leading to a profit-price spiral.
Corporate Exploitation: Companies exploit inflation by significantly raising prices, surpassing the need to cover increased costs, thereby maximizing profit margins and perpetuating inflation.
Profit-Price Spiral: Unlike the wage-price spiral, it involves companies exploiting inflation by excessively raising prices to maximize profit margins, triggering a cycle of inflation.

Illustrative Scenario

Crisis Dynamics: During crises such as natural disasters or pandemics, businesses often raise prices due to increased input costs.
Exploitative Practices: However, some businesses exploit the situation by engaging in excessive profit-making through significantly inflated price mark-ups.

Impact of Greedflation

Disproportionate Impact: Greedflation disproportionately affects low-income and middle-class individuals, diminishing their consumption and lowering living standards.
Wealth Disparities: While benefiting the wealthy by inflating asset values, it widens the wealth gap and exacerbates income inequality.
Market Instability: Sharp price increases and speculative activities driven by greed can create bubbles and unsustainable market conditions, heightening the risk of financial market crashes and crises.

Global Implications

Divergent Policies: Inflationary pressures from greedflation may lead to divergent policy responses among nations.
Trade and Geopolitical Risks: Conflicting strategies to combat inflation can exacerbate global imbalances, trade tensions, and geopolitical conflicts as countries prioritize their interests and competitiveness.

PYQ:

[2015] Which reference to inflation in India, which of the following statements is correct?

(a) Controlling the inflation in India is the responsibility of the Government of India only.

(b) The Reserve Bank of India has no role in controlling the inflation.

(d) Increased money circulation helps in controlling the inflation.

June 5, 2024

RobiNOweed: ICAR’s Herbicide-Tolerant Basmati Variety

Why in the News?

Indian Agricultural Research Institute (IARI) launched India’s inaugural non-GM herbicide-tolerant Basmati rice varieties for commercial farming, ensuring improved weed control, cost-effectiveness, and addressing water scarcity and methane emissions in cultivation.

About the Indian Council of Agricultural Research (ICAR)

ICAR is an autonomous organisation under the Department of Agricultural Research and Education (DARE), Ministry of Agriculture and Farmers Welfare.
It is headquartered in New Delhi.
ICAR was formerly known as the Imperial Council of Agricultural Research.
It was established in 1929 as a registered society under the Societies Registration Act, 1860 on the basis of the report of the Royal Commission on Agriculture.

Functions of ICAR:

Its primary mandate is to coordinate agricultural education and research in India and provide leadership in agriculture and allied sectors.
It is the apex body for coordinating, guiding and managing research and education in agriculture including horticulture, fisheries and animal sciences in the entire country.

Structure and Organization:

ICAR operates under the Department of Agricultural Research and Education (DARE), Ministry of Agriculture and Farmers Welfare, Government of India.
It consists of a network of research institutes, national bureaus, project directorates, and agricultural universities across the country.
The council is governed by a Governing Body and an Executive Committee, which oversee its functioning and activities.

Recognition and Awards:

ICAR confers prestigious awards, such as: the Rafi Ahmed Kidwai Award, the Borlaug Award, and the Hari Om Ashram Trust Award, to recognize excellence in agricultural research and education.

About RobiNOweed

Dubbed as ‘RobiNOweed,’ these varieties are developed by ICAR-IARI and named as:

Pusa Basmati 1979 and
Pusa Basmati 1985

They are tailor-made for farmers employing the direct seeded rice (DSR) method, where weed management is crucial.

Benefits Offered

Effective Weed Management: These new varieties offer an effective solution to weed issues and promote the success of the DSR method, potentially saving up to 33% of the total water requirement.
Water Conservation: DSR significantly reduces water usage compared to traditional flooding methods, addressing concerns of water depletion, especially in northwest India.
Market Impact: With IARI already holding a dominant 95% share in Basmati exports, these new varieties are expected to further boost production and export.

Critical Assessment of Herbicide-Tolerant Varieties

Weed Management Alternatives: Some scientists argue against the necessity of Ht rice, advocating for eco-friendly weed management methods based on climatic factors.
Potential Risks: Concerns arise regarding the limited efficacy of the herbicide, its impact on genetic diversity, and the evolution of herbicide-resistant weeds.
Lessons from Past: Lessons from the Bt Cotton experience highlight the risks associated with overreliance on specific agricultural technologies.

What is the Direct Seeding of Rice (DSR) technique?

Transplantation Method: In the conventional transplantation method, seeds are sown in nurseries, grown into seedlings, and then transplanted into puddled fields.
Direct Seeding: DSR involves directly drilling pre-germinated seeds into the field using tractor-powered machinery.
Simplicity and Efficiency: DSR eliminates the need for nursery preparation and transplantation, simplifying the cultivation process.
Resource Management: DSR offers benefits such as water savings and reduced labor requirements compared to conventional methods.
Higher Requirements: However, DSR requires higher seed quantities and levelled land, posing challenges for adoption.

PYQ:

[2018] With reference to the Genetically Modified mustard (GM mustard) developed in India, consider the following statements:

GM mustard has the genes of a soil bacterium that give the plant the property of pest-resistance to a wide variety of pests.
GM mustard has the genes that allow the plant cross-pollination and hybridization.
GM mustard has been developed jointly by the IARI and Punjab Agricultural University.

Which of the statements given above is/are correct?

(a) 1 and 3 only

(b) 2 only

(d) 1, 2 and 3

June 5, 2024

RBI brings back 100 tonnes Gold from UK to its Vaults

Why in the News?

The RBI has repatriated over 100 tonnes of gold from the UK to its domestic vaults, the largest transfer since at least 1991.

What are Gold Reserves?

- A gold reserve is the gold held by a country’s central bank, acting as a backup for financial promises and a store of value.
- India, like other nations, stores some of its gold reserves in foreign vaults to spread out risk and facilitate international trading.

India’s Gold Reserves:

- As of the end of March 2024, the RBI held 822.10 tonnes of gold, with 408.31 tonnes stored domestically.
- The share of gold in the total forex of India is around 7-8% as of 2023.

Where does the RBI store its gold?

India’s gold reserves are primarily stored in the Bank of England, which is known for its stringent security protocols.
The RBI also stores a portion of its gold reserves at the:

Bank for International Settlements (BIS) in Basel, Switzerland, and the
Federal Reserve Bank of New York in the United States.

During India’s foreign exchange crisis in 1990-91, the country pledged some of its gold reserves to the Bank of England to secure a $405 million loan, according to reports.
Even though the loan was paid back by November 1991, India decided to keep the gold in the UK for convenience.

Why does the RBI store its gold in foreign banks?

Convenience: Storing gold overseas makes it easier for India to trade, engage in swaps and earn returns.
Averting Risks: There are risks involved, especially during times of geopolitical tensions and war.
- The recent freezing of Russian assets by Western nations has raised worries about the safety of assets kept abroad and the RBI decision to shift a portion of the gold reserve to India could be prompted by these concerns.
Stable Prices: Unlike fiat currencies, which can be subject to inflation or devaluation due to various economic factors, the value of gold tends to be relatively stable over time, which makes it an attractive asset for central banks to hold as a reserve.

Benefits Offered by Gold Reserves

Control domestic gold prices: With its big stash of gold, the RBI can help control local gold prices by using some of it in India. Last financial year, the RBI added about 27.47 tonnes of gold to the total reserve, bringing it to 794.63 tonnes.
Security buffer: The increased gold reserve works as a hedge against any financial crisis and to take measures to control inflation as well as currency devaluation.

Why is the recent move significant?

Efficiency and Confidence: Bringing gold back to India reduces storage fees and signals confidence in the stability of the Indian economy.
Logistical Efficiency: Moving gold to India saves on storage fees paid to foreign custodians, such as the Bank of England.
Diversified Storage: Repatriation ensures diversified storage, enhancing security and reducing dependency on foreign storage.

Has the RBI made similar purchases or transfers of gold in the past?

RBI started buying gold in 2018 and had previously bought 200 tonnes during the global financial crisis in 2009.
In the first quarter of 2024, the RBI bought 19 tonnes of gold, surpassing the 16 tonnes purchased throughout 2023.

PYQ:

[2015] The problem of international liquidity is related to the non-availability of:

(a) Goods and services

(b) Gold and silver

(d) Exportable surplus

June 4, 2024

Hunga Tonga Volcanic Eruption

Why in the News?

Hunga Tonga-Hunga Ha’apai (Hunga Tonga) erupted in Tonga, triggering a tsunami and global seismic waves.

About Hunga Tonga Volcano

The Hunga Tonga-Hunga Ha’apai volcano is situated in the western South Pacific Ocean, west of the main inhabited islands in the Kingdom of Tonga. It lies on the Pacific Ring of Fire.
It forms part of the Tofua Arc, within the larger Tonga-Kermadec volcanic arc, resulting from the subduction of the Pacific Plate beneath the Indo-Australian Plate.
It comprises two small uninhabited islands, Hunga-Ha’apai and Hunga-Tonga.
Hunga Tonga is one of 12 confirmed submarine volcanoes along the Tofua Arc.

Key Findings on Hunga Tonga Eruption

The Hunga Tonga eruption primarily emitted water vapour, which reached the stratosphere, affecting ozone depletion and acting as a potent greenhouse gas. Minimal smoke was produced.

Impact on Weather

Ozone Hole: The study reveals that Hunga Tonga contributed to the exceptionally large ozone hole in the preceding year and the unexpectedly wet summer of 2024.
Global Mean Temperatures: While the eruption had a negligible effect on global temperatures, it induced lasting regional disruptions in atmospheric wave patterns.
- Traditionally, massive volcanic eruptions reduce temperatures by emitting sulfur dioxide, which forms sulphate aerosols reflecting sunlight.
Regional Effects: Anticipated changes include colder and wet winters in northern Australia, warmer winters in North America, and colder winters in Scandinavia until approximately 2029.

Do you know?

Previous volcanic eruptions, such as Tambora in 1815 and Samalas in 1257, have significantly impacted global climate, leading to phenomena like the “year without a summer” and the onset of the Little Ice Age.

PYQ:

[2021] Discuss about the vulnerability of India to earthquake-related hazards. Give examples including the salient features of major disasters caused by earthquakes in different parts of India during the last three decades.

June 4, 2024