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Type: Prelims Only

  • Capital Markets: Challenges and Developments

    What is Offer-for-Sale (OFS)?

    29 July 2023 | Prelims Only | Economics
    Mains Paper 3: Indian Economy

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Offer for Sale (OFS)

    Mains level: Not Much

    Central Idea

    • The government’s stake sale in Rail Vikas Nigam Ltd (RVNL) through an offer-for-sale (OFS) received an enthusiastic response from institutional investors.

    About Offer for Sale (OFS)

    • OFS is a method of share sale introduced by India’s securities market regulator SEBI in 2012.
    • The primary aim was to facilitate promoters of listed companies to reduce their holdings and comply with the minimum public shareholding norms within the stipulated time frame.
    • This mechanism gained popularity among both state-run and private listed companies as a means to adhere to SEBI’s order.
    • Subsequently, the government also embraced OFS to divest its shareholding in public sector enterprises.

    Key Features of Offer for Sale:

    • Stake Dilution: In an OFS, the promoters of a company reduce their stake by selling existing shares to retail investors, companies, Foreign Institutional Investors (FIIs), and Qualified Institutional Buyers (QIBs) through an exchange platform.
    • Restriction on Fresh Issuance: Unlike a follow-on public offering (FPO), where companies can raise funds through issuing fresh shares or promoters can sell their existing stakes (or both), OFS is used exclusively for the sale of existing shares.
    • Eligibility Criteria: Only promoters or shareholders holding more than 10% of the share capital in a company can conduct an OFS.
    • Limited to Top 200 Companies: The OFS mechanism is available to the top 200 companies based on market capitalization.
    • Reserved Quota for Institutions: A minimum of 25% of the shares offered in an OFS is reserved for mutual funds (MFs) and insurance companies. Additionally, no single bidder, other than MFs and insurance companies, can be allocated more than 25% of the offering size.
    • Retail Investor Participation: A minimum of 10% of the offer size is reserved for retail investors, encouraging their participation in the share sale.
    • Discount Provision: Sellers have the option to offer a discount to retail investors either on the bid price or on the final allotment price.
    • Timely Notification: The company must inform the stock exchanges about its intention to conduct an OFS at least two banking days prior to the event.

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  • Waste Management – SWM Rules, EWM Rules, etc

    Resource Efficiency Circular Economy Industry Coalition (RECEIC)

    28 July 2023 | Prelims Only | Environment
    Mains Paper 3: Conservation, Environmental Pollution & Degradation, Eia

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Circular Economy Coalition

    Mains level: Not Much

    Central Idea

    • The Resource Efficiency Circular Economy Industry Coalition (RECEIC) was launched with 39 multinational corporations committing to resource efficiency and circular economy principles.

    What is RECEIC?

    • Foundation: The RECEIC, conceived during India’s G20 Presidency, is an industry-led initiative with a global focus on promoting resource efficiency and circular economy practices
    • Objectives: It aims to address environmental issues arising from waste, such as plastics, microplastics, e-waste, and chemical waste.
    • Participation: 39 multinational corporations from sectors such as steel, FMCG, and electronics joined RECEIC’s launch.
    • Leadership: The coalition will be industry-led, with the government playing a supporting role.
    • Focus: The coalition aims to address environmental challenges arising from different types of waste through resource efficiency and circular economy principles.
    • Presence: Ministers from Mauritius, Denmark, Italy, Canada, UAE, France, and the European Union attended the event.

    India’s measures in this regard

    • In 2021-22, India generated around 41 lakh tonnes of plastic waste, with 30 lakh tonnes allocated to registered recyclers and plastic waste processing units.
    • The Plastic Waste Management (Amendment) Rules, 2022, established Extended Producers’ Responsibility (EPR) guidelines to manage plastic waste effectively.
    • Plastic waste processors generated 2.6 million tonnes of EPR certificates, and purchased approximately 1.51 million tonnes of those certificates for 2022-23 obligations.

    Also read:

    [RSTV Archive] Circular Economy: Concept & Challenges

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  • Foreign Policy Watch: India-Bangladesh

    In news: Maitree Super Thermal Power Project

    28 July 2023 | Prelims Only | Economics
    Mains Paper 3: Infrastructure: Energy, Ports, Roads, Airports, Railways Etc.

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Maitree Super Thermal Power Project

    Mains level: Not Much

    maitree

    Central Idea

    • Bharat Heavy Electricals (BHEL), a state-owned engineering firm, achieved a major milestone in Bangladesh.
    • The 660-MW Unit-2 of the 1,320-MW Maitree Super Thermal Power Project (STPP) was successfully synchronized with the electricity grid in Bangladesh.

    Maitree Super Thermal Power Project

    • Location: The Maitree STPP is a 1,320-MW power plant situated at Rampal, Mongla, Bagerhat, Bangladesh.
    • Joint Venture: BHEL is responsible for setting up the power plant, which is a 50:50 joint venture between the Bangladesh Power Development Board (BPDB) and NTPC Ltd.
    • Infrastructure Priority: The project serves as a symbol of successful cooperation between India and Bangladesh and is a priority infrastructure development initiative for Bangladesh.
    • Objective: The primary goal of the project is to establish a reliable and cost-effective base-load power production system in Bangladesh.

    BHEL’s Technological Prowess and Global Leadership:

    • The successful synchronisation of the 660-MW Unit-2 underscores BHEL’s expertise and technological prowess in the power sector.
    • This accomplishment further solidifies BHEL’s position as a leading global player in providing dependable and sustainable energy solutions.

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

    [pib] Hematene Nanoflakes

    28 July 2023 | Prelims Only | Science and Technology
    Mains Paper 3: Achievements Of Indians In S&T

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Hematene

    Mains level: Not Much

    hematene

    Central Idea

    • Researchers have made a groundbreaking discovery of nanoflakes of a material known as hematene, extracted from iron ore.
    • These nanoflakes have demonstrated exceptional capabilities in withstanding and shielding against high laser intensities.

    What is Hematene?

    • Hematene is a novel 2D material that has been derived from hematite (common iron ore).
    • It is a thin, single-layer material with unique properties that make it promising for various applications, especially in the field of optics.
    • Hematene nanoflakes have demonstrated exceptional capabilities in withstanding and shielding against high laser intensities, making them valuable for optical limiting applications.
    • The material’s stability and potential for futuristic technologies have garnered significant interest from researchers and scientists.

    How is it made?

    • Hematene is derived from naturally occurring hematite, the mineral form of iron oxide, through a process involving sonication, centrifugation, and vacuum-assisted filtration.
    • With a thickness of just 3 atoms, it exhibits improved photocatalysis efficiency.
    • Being ferromagnetic, like common magnets, it possesses magnetic properties.
    • Notably, it has the exceptional ability to withstand and provide shielding against high laser intensities.

    Applications of Hematene Nanoflakes

    • Optical Limiting: Hematene nanoflakes have demonstrated exceptional optical limiting capabilities, making them valuable in protecting sensitive optical equipment, such as sensors, detectors, and other optical devices, from high laser intensities.
    • Photodetectors: Hematene’s properties make it suitable for developing high-performance photodetectors, which are used to detect and convert light signals into electrical signals. This application has potential in telecommunications, imaging, and optical communications.
    • Energy Storage: Hematene can be explored for applications in energy storage devices, such as batteries and super-capacitors, due to its unique electronic and electrochemical properties.
    • Optoelectronics: The material’s properties make it suitable for optoelectronic devices, which involve the interaction of light and electricity, including light-emitting diodes (LEDs) and photovoltaic cells.
    • Photothermal Therapy: Hematene’s ability to withstand and shield against high laser intensities may find applications in photothermal therapy, a medical technique that uses light to treat diseases like cancer.
    • Environmental Applications: Hematene’s stability and potential for use in various environments may make it valuable in environmental applications, such as water purification and pollution control.
    • Sensors: The material’s unique properties may be utilized in developing high-performance sensors for various applications, including gas sensing and environmental monitoring.
    • Catalysts: Hematene’s surface characteristics and electronic properties could be explored for catalytic applications, promoting chemical reactions in various industrial processes.

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  • Banking Sector Reforms

    Full-Reserve Banking vs. Fractional-Reserve Banking

    26 July 2023 | Prelims Only | Economics
    Mains Paper 3

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Full-Reserve Banking

    Mains level: Not Much

    bank

    Central Idea

    • Full-reserve banking, also known as 100% reserve banking, and fractional-reserve banking are two different systems of banking that determine how banks handle customer deposits and lending practices.
    • This article discusses the key differences between these two banking systems and the arguments put forth by proponents of each approach.

    What is Full-Reserve Banking?

    • Custodian Role: In a full-reserve banking system, banks hold all money received as demand deposits from customers in their vaults, acting as safekeepers of depositors’ funds.
    • Limited Lending: Banks can only lend money from time deposits, which customers can withdraw after an agreed-upon period.
    • Preventing Bank Runs: The full reserve ensures banks can meet depositor demands even if all customers seek to withdraw their money simultaneously, reducing the risk of a bank run.
    • Restricted Money Supply: Banks cannot create money through loans, limiting their influence on the economy’s money supply and potentially preventing artificial booms and busts.

    Contrary Idea: Fractional-Reserve Banking

    • Lending with Electronic Money: Banks in a fractional-reserve system predominantly lend in the form of electronic money, allowing them to lend more than the physical cash they have in vaults.
    • Risk of Bank Runs: Although electronic money minimizes cash withdrawals, excessive loans can lead to a bank run if depositors demand cash that exceeds the actual cash reserves.
    • Supporting Economic Growth: Proponents argue that fractional-reserve banking fuels investment and economic growth by allowing banks to create loans without relying solely on customer savings.

    Arguments for both systems

    • Fractional-Reserve Banking: Supporters believe fractional-reserve banking frees the economy from the constraints of real savings, stimulating investment and growth.
    • Full-Reserve Banking: Supporters argue that full-reserve banking is more natural, prevents bank runs, and limits banks’ ability to create money, which could prevent economic instability.

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  • Parliament – Sessions, Procedures, Motions, Committees etc

    What is No-Confidence Motion?

    26 July 2023 | Prelims Only | Polity
    Mains Paper 2: Parliament & State Legislatures

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: No-Confidence Motion

    Mains level: Not Much

    Central Idea

    • Opposition parties belonging to the new Alliance INDIA plan to move a no-confidence motion against the government to force the PM to speak on Manipur unrest.

    Motion of No-Confidence

    • In the Indian parliamentary system, a motion of no-confidence plays a crucial role in assessing the government’s strength and accountability.
    • This motion allows opposition parties or any member to express their lack of confidence in the Council of Ministers, leading to a significant political event.

    Procedure for No-Confidence Motion:

    • Rule 198: The procedure for a no-confidence motion is laid down under Rule 198 of the rules of procedure and conduct of the Lok Sabha.
    • Absence of Grounds: Such does not require specific grounds to be mentioned in the motion, and even if mentioned, these grounds do not form part of the motion.
    • Lok Sabha Exclusive: It can only be moved in the Lok Sabha and not in the Rajya Sabha.
    • Written Notice: Any member of the Lok Sabha can move a no-confidence motion by providing a written notice before 10 am.
    • Acceptance and Discussion: For the motion to be accepted, a minimum of 50 members must support it. Once accepted, the Speaker announces the date for the motion’s discussion within 10 days.
    • Voting: Voting can be conducted through a voice vote, division vote (using electronic gadgets, slips, or a ballot box), or a secret ballot vote.

    Implications of Voting

    • Majority Decision: Following the vote, the side with the majority determines the motion’s outcome.
    • Speaker’s Role: In the event of a tie, the Speaker casts the deciding vote to resolve the impasse.

    Outcomes

    • Government Resignation: If the government fails to prove its majority in the House, it is obligated to resign from power.
    • Political Impact: A successful no-confidence motion can lead to significant political changes and reshuffling of the government.

    Try this PYQ:

    Q. Consider the following statements regarding a No-Confidence Motion in India:

    1. There is no mention of a No-Confidence Motion in the Constitution of India.
    2. A Motion of No-Confidence can be introduced in the Lok Sabha only.

    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

     

    Post your answers here.

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  • Censorship Issues – Censor Board, Banning films, etc

    How are films Certified in India?

    25 July 2023 | Prelims Only | Governance
    Mains Paper 2: Governance, Transparency & Accountability, Citizens Charters

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: CBFC, Film Certification Process

    Mains level: Not Much

    Central Idea

    • Union Information & Broadcasting Minister has expressed displeasure with the Central Board of Film Certification (CBFC) over its approval of the Hollywood film “Oppenheimer.”
    • The Minister has reportedly asked officials to remove a particular scene from the movie that has generated controversy on social media.

    Understanding the CBFC

    films

    • Role: The Central Board of Film Certification is a statutory body under the Ministry of Information and Broadcasting, responsible for regulating the public exhibition of films in India under the Cinematograph Act, 1952.
    • Certification Requirement: Films can be screened in India only after receiving certification from the Board.
    • Composition: The CBFC comprises a Chairperson and members appointed by the Central Government. There are nine Regional Offices with Advisory Panels to assist in the examination of films.

    Film Certification Process

    • Examining Committee: After submitting all film materials and requisite fees, a regional officer forms an Examining Committee to view the film. For short films (shorter than 72 minutes), the committee includes a CBFC officer and one advisory panel member, with at least one being a woman. For long films (longer than 72 minutes), at least two committee members must be women.
    • Certification Recommendations: Each committee member provides a written report with their recommendations for modifications and classification of the film.
    • CBFC Decision: The Chairperson reviews the committee’s reports and initiates further procedures based on their recommendations.

    Types of Certifications:

    1. Unrestricted Public Exhibition (U)
    2. Parental Guidance for children below age 12 (U/A)
    3. Adult (A)
    4. Viewing by specialized groups (S)

    Controversies and Appeals

    • Suggested Changes: CBFC may suggest modifications or excisions in the film before granting certification. Applicants dissatisfied with the certification or suggested changes can apply to the Revising Committee.
    • Revising Committee: The Revising Committee consists of the Chairperson and up to nine members from the board and advisory panel.
    • Appellate Tribunal: If disagreements persist, the Appellate Tribunal, an independent body, can be approached.

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  • Festivals, Dances, Theatre, Literature, Art in News

    Meri Maati Mera Desh Initiative

    25 July 2023 | Prelims Only | History
    Mains Paper 1: Arts & Culture

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Meri Maati Mera Desh Initiative

    Mains level: NA

    meri maati

    Central Idea

    • The Union government has launched the ‘Meri Maati Mera Desh’ campaign as a grand culmination of the ‘Azadi Ka Amrit Mahotsav,’ celebrating 75 years of Indian Independence.

    Meri Maati Mera Desh

    • This initiative aims to honor and commemorate the sacrifices of martyrs.
    • It includes freedom fighters, defense personnel, and members of the Central Armed Police Forces (CAPF) and State Police, who laid down their lives in the line of duty.

    Five-Point Agenda

    1. Shilaphalakam Installation: Memorials will be erected, adorned with the names of those who made the supreme sacrifice for the nation. The veers (bravehearts) will be remembered and respected for their immense contribution to the country’s freedom, unity, and integrity.
    2. Pledge of Commitment: A solemn pledge will be taken by people at the memorial sites, reaffirming their unwavering commitment to the nation and its values.
    3. Vasudha Vandhan: Every gram panchayat or village will participate in ‘Vasudha Vandhan’ by planting 75 saplings of indigenous species, rejuvenating Mother Earth, and developing Amrit Vatikas (Eternal Gardens).
    4. Veeron Ka Vandan: Freedom fighters and the families of deceased freedom fighters will be honored and felicitated. Retired defense personnel, CAPF, and State Police personnel, along with the families of those who lost their lives in the line of duty, will also receive recognition for their invaluable service to the nation.
    5. National Flag Hoisting: The National Flag will be proudly hoisted, and the National Anthem will resonate in unison, filling the air with patriotism and pride.

    Implementation and Events

    • Events will be organized at various levels, from panchayat and village to block, urban local bodies, state, and national levels.
    • Soil from every panchayat/village will be collected by young volunteers and brought to the block, from where ‘Mitti Kalash’ (pots of soil) will be ceremoniously transported to Delhi.
    • The collected soil will be utilized to create a unique garden, the Amrit Vatika, at the Kartavya Path in Delhi, honoring the heroes of Indian freedom struggle and national integrity.

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  • Urban Transformation – Smart Cities, AMRUT, etc.

    Excision and Merger of Civil Areas in Cantonments

    25 July 2023 | Prelims Only | Governance
    Mains Paper 2: Governance, Transparency & Accountability, Citizens Charters

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Cantonments

    Mains level: NA

    Central Idea

    • The Ministry of Defence (MoD) has put forward a proposal to excise civil areas in 58 cantonments across the country, intending to merge them with State municipalities.
    • Earlier in May, the centre kicked off a plan to abolish the 62 cantonments around the country as “archaic colonial legacies”.

    What are Cantonments?

    • Definition: Cantonments are permanent military stations where a group of military personnel are stationed for administrative purposes. They are governed by the Cantonments Act, 2006, which provides for municipal administration and control of these areas.
    • Number and Locations: India currently has 62 cantonments spread across various states, with some areas known for their better infrastructure and facilities compared to other parts of the country.
    • Cantonment Boards: Cantonments are managed by Cantonment Boards, which are democratic bodies comprising elected and nominated members. The Station Commander of the Cantonment serves as the ex-officio President of the Board.

    Historical Background

    • The Cantonments Act, 1924, was enacted by the British to regulate the municipal administration of cantonments.
    • After India’s independence, the Cantonments Act was modified to suit the democratic setup of the country.
    • The current Cantonments Act, 2006, replaced the previous version, aiming to provide greater autonomy and accountability to the Cantonment Boards.

    Categories of the erstwhile Cantonments

    Cantonments are categorized based on the population size residing within them:

    1. Category I: Cantonments with a population of over 50,000.
    2. Category II: Cantonments with a population of 10,000 to 50,000.
    3. Category III: Cantonments with a population of less than 10,000.
    4. Category IV: Industrial or training Cantonments, irrespective of their population size.

    Broader plan

    • Conversion to Exclusive Military Stations: Under the plan, military areas within all cantonments will be carved out and designated as “exclusive military stations.” The Army will exercise “absolute control” over these areas, streamlining their administration and operations.
    • Merger with Local Municipalities: The civilian areas of cantonments will be integrated with the respective local municipalities. These municipalities will take up the responsibility of maintaining these areas, along with providing essential services and infrastructure.
    • Move Away from Traditional Cantonment Concept: Post-independence, the Indian Army moved away from the traditional cantonment concept, primarily due to friction between military and civilian authorities. However, certain major cantonments continued to exist, such as Pune Cantonment and Agra Cantonment.

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  • Health Sector – UHC, National Health Policy, Family Planning, Health Insurance, etc.

    Controlled Human Infection Studies (CHIS) in India

    25 July 2023 | Prelims Only | Science and Technology
    Mains Paper 3: Awareness in various sc and tech fields

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Controlled Human Infection Studies (CHIS)

    Mains level: Read the attached story

    chis

    Central Idea

    • India has taken its first step towards introducing Controlled Human Infection Studies (CHIS), a research model widely used in other countries for vaccine and treatment development.
    • The Indian Council of Medical Research’s (ICMR) Bioethics Unit has prepared a consensus policy statement open for public comment, addressing the need, benefits, and ethical challenges associated with CHIS.

    What is Controlled Human Infection Studies (CHIS)?

    • CHIS also known as human challenge trials, are scientific studies conducted to deliberately expose healthy human volunteers to infectious agents under controlled conditions.
    • The primary objective of these studies is to gain a better understanding of the pathogens’ behavior, human immune response, and to test potential vaccines, treatments, or preventive measures against the infection.

    Key points about Controlled Human Infection Studies (CHIS) include:

    1. Informed Consent: Volunteers participating in CHIS must provide informed consent, fully understanding the potential risks and benefits associated with their participation.
    2. Types of Pathogens: CHIS can be used to study various infectious agents, such as viruses (e.g., influenza, dengue, Zika), bacteria (e.g., cholera, typhoid), and parasites (e.g., malaria).
    3. Vaccine Development: CHIS plays a crucial role in vaccine development by providing controlled environments to assess the efficacy of candidate vaccines and their ability to induce protective immune responses.
    4. Controversy: The use of CHIS has sparked ethical debates about balancing potential risks to participants against potential benefits to public health.

    Ethical Concerns Surrounding CHIS in India

    • Delicate Ethical Balance: CHIS is considered ethically sensitive due to concerns about deliberate harm to participants, fair compensation, third-party risks, and withdrawal from the study, and involving vulnerable participants.
    • Streamlined Ethics Review: ICMR acknowledges the need for a specialized ethics review process with additional oversight and safeguards to protect study participants.
    • Deterrents and Unique Context: Technical, clinical, ethical, and legal challenges deterred India from adopting CHIS earlier, partly influenced by the nation’s unique socio-cultural context.

    Potential Benefits of CHIS in India

    • High Disease Burden: India faces a significant burden of morbidity and mortality from infectious diseases, contributing about 30% of the disease burden in the country.
    • Novel Insights and Efficiency: CHIS offers unique insights into disease pathogenesis and enables accelerated and cost-effective outcomes with smaller sample sizes compared to large clinical trials.
    • Social Value: CHIS can contribute to public health response, healthcare decision-making, policies, economic benefits, improved pandemic preparedness, and community empowerment.

    Encouraging Collaboration and Expertise

    • Complex Nature of CHIS: ICMR highlights the complexity of CHIS and suggests that collaborations between researchers, institutions, organizations, and countries may be necessary to ensure the right expertise is available.
    • Crucial Role in Advancing Scientific Understanding: The ICMR Bioethics Unit’s consensus policy statement aims to address ethical concerns associated with CHIS, acknowledging its potential role in advancing the scientific understanding of infectious diseases and accelerating treatment strategies.

    Public Consultation and Future Directions

    • Open for Public Consultation: The ICMR’s consensus policy statement on CHIS is open for public consultation until August 16 to gather input from stakeholders and experts.
    • Striving for Ethical Research: ICMR emphasizes its commitment to conduct CHIS in India while ensuring ethical principles are upheld and human participants are protected.

    Conclusion

    • The introduction of CHIS in India is a significant step towards advancing medical research and finding cost-effective solutions for infectious diseases.
    • Public consultation and expert collaborations will help shape the future direction of CHIS research in India and contribute to scientific progress and improved healthcare outcomes.

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