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  • What is Additional Surveillance Mechanism (ASM)?

    The National Stock Exchange (NSE) placed very famous enterprises of business tycoons under the additional surveillance mechanism (ASM).

    Why in news?

    • The Adani Group has shed $108 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud.

    What is Additional Surveillance Mechanism (ASM)?

    • 2018 saw the establishment of the Additional Surveillance Measure (ASM), a measure by SEBI and recognised stock exchanges to control the incredibly volatile stocks on the Indian stock market.
    • ASM in the stock market functions as a control measure for speculative trading to safeguard the interests of retail investors and keep them out of potentially dangerous trading situations.
    • There are two parts of additional margins:
    1. Long-term ASM
    2. Short-term ASM

    What is ASM list in the stock market?

    • ASM list means a collection of securities currently under observation owing to variables like price volatility, volume variation, etc.
    • Investors are alerted to unexpected price movement by stocks that have been shortlisted for the ASM list.
    • These equities are subject to various trading restrictions to halt any speculation.
    • The regulations that apply to stocks on the ASM list are more stringent.
    • They are prohibited from being pledged and using intraday leverages like bracket and cover orders, among others.

    How does it work?

    • For instance, the stock will be moved to a 5% price band the day it joins the ASM list; from then on, it may only move 5% up or down from the previous day’s closing level.
    • As a result of this limit violation, the stock can no longer trade on the market once this limit is violated.
    • In addition, the investor ought to have 100% margin money to trade the stock as of the fifth day.
    • The selected securities will be monitored further, based on predetermined criteria and transferred into Trade to Trade settlement once the criterion is met.

    Criteria to determine ASM list stocks

    The following criteria are used to select stocks for inclusion in ASM and were mutually decided upon by SEBI and Exchanges:

    • Close-to-Close Price Variation
    • Market Capitalisation
    • Volume Variation
    • Delivery Percentage
    • High Low Variation
    • Client Concentration
    • of Unique PANs

     

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  • CITES database reveals Red Sanders smuggling

    red sanders

    The CITES trade database has recorded 28 incidents of Red Sanders confiscation, seizure, and specimen from the wild being exported from India.

    Red Sanders

    • The species, Pterocarpus santalinus, is an Indian endemic tree species, with a restricted geographical range in the Eastern Ghats.
    • It is a very slow-growing tree species that attains maturity in natural forests after 25-40 years.
    • It is endemic to a distinct tract of forests in Andhra Pradesh.
    • It is mainly found in Chittoor, Kadapa, Nandhyal, Nellore, Prakasam districts of Andhra Pradesh.
    • It was classified as ‘near threatened’ in 2018 and has now joined the ‘endangered’ list once again in 2021.
    • It is listed under Appendix II of CITES and is banned from international trade.

    Legal protection in India

    • The Union Environment Ministry had decided to keep Red Sanders (red sandalwood) OUT of the Schedule VI of Wild Life Protection Act, 1972, arguing that this would discourage the cultivation of the rare plant species.
    • Schedule VI regulates and restricts the cultivation, possession, and sale of a rare plant species.

    Threats to this specie

    • Red Sanders are known for their rich hue and therapeutic properties, are high in demand across Asia, particularly in China and Japan.
    • They are used in cosmetics and medicinal products as well as for making furniture, woodcraft and musical instruments.
    • Its popularity can be gauged from the fact that a tonne of Red Sanders costs anything between Rs 50 lakh to Rs 1 crore in the international market.

    Try this question from CSP 2016:

    Q.With reference to ‘Red Sanders’, sometimes seen in the news, consider the following statements:

    1. It is a tree species found in a part of South India.
    2. It is one of the most important trees in the tropical rain forest areas of South India.

    Which of the above statements is/are correct?

    (a) 1 only

    (b) 2 only

    (c) Both 1 and 2

    (d) Neither 1 nor 2

     

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    Back2Basics: Convention on International Trade in Endangered Species (CITES)

    • CITES stands for the Convention on International Trade in Endangered Species of Wild Fauna and Flora.
    • It is as an international agreement aimed at ensuring “that international trade in specimens of wild animals and plants does not threaten their survival”.
    • It was drafted after a resolution was adopted at a meeting of the members of the International Union for Conservation of Nature (IUCN) in 1963.
    • It entered into force on July 1, 1975, and now has 183 parties.
    • The Convention is legally binding on the Parties in the sense that they are committed to implementing it; however, it does not take the place of national laws.
    • India is a signatory to and has also ratified CITES convention in 1976.

    CITES Appendices

    • CITES works by subjecting international trade in specimens of selected species to certain controls.
    • All import, export, re-exports and introduction from the sea of species covered by the convention has to be authorized through a licensing system.
    • It has three appendices:
    1. Appendix I includes species threatened with extinction. Trade-in specimens of these species are permitted only in exceptional circumstances.
    2. Appendix II provides a lower level of protection.
    3. Appendix III contains species that are protected in at least one country, which has asked other CITES Parties for assistance in controlling trade.

     

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  • What are Lab-Grown Diamonds?

    diamond

    During her Budget speech, Finance Minister announced the government’s move to focus on lab-grown diamonds (LGDs).

    What did the FM announce?

    • Customs duty on the seeds used in lab-grown diamond manufacturing will be reduced, announced the finance minister.
    • She also announced a grant to IITs to facilitate the growth of LGDs in India.

    What are Lab-Grown Diamonds (LGD)?

    • Lab-grown diamonds are diamonds that are produced using specific technology which mimics the geological processes that grow natural diamonds.
    • They are not the same as “diamond simulants” – LGDs are chemically, physically and optically diamond and thus are difficult to identify as “lab-grown.”
    • While materials such as Moissanite, Cubic Zirconia (CZ), White Sapphire, YAG, etc. are “diamond simulants” that simply attempt to “look” like a diamond.
    • LGDs have basic properties similar to natural diamonds, including their optical dispersion, which provide them the signature diamond sheen.
    • They lack the sparkle and durability of a diamond and are thus easily identifiable.
    • However, differentiating between an LGD and an Earth Mined Diamond is hard, with advanced equipment required for the purpose.

    How are LGDs produced?

    There are multiple ways in which LGDs can be produced.

    • High pressure, high temperature (HPHT) method: This method requires extremely high pressure, high temperature presses that can produce up to 730,000 psi of pressure under extremely high temperatures (at least 1500 Celsius). Usually graphite is used as the “diamond seed” and when subjected to these extreme conditions, the relatively inexpensive form of carbon turns into one of the most expensive carbon forms.
    • Other processes: These include “Chemical Vapor Deposition” (CVD) and explosive formation that creates what are known as “detonation nano-diamonds”.

    What are LGDs used for?

    (1) Production

    • For instance, LGDs are most often used for industrial purposes, in machines and tools. Their hardness and extra strength make them ideal for use as cutters.
    • Furthermore, pure synthetic diamonds have high thermal conductivity, but negligible electrical conductivity.

    (2) Electronics industry

    • This combination is invaluable for electronics where such diamonds can be used as a heat spreader for high-power laser diodes, laser arrays and high-power transistors.

    (3) Jewelleries

    • Lastly, as the Earth’s reserves of natural diamonds are depleted, LGDs are slowly replacing the prized gemstone in the jewellery industry.
    • Crucially, like natural diamonds, LGDs undergo similar processes of polishing and cutting that are required to provide diamonds their characteristic lustre.

     

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  • Who is a Puisne Judge, and what does the term mean?

    While recommending two names for appointment as judges of the Supreme Court, the Collegium headed by Chief Justice of India D Y Chandrachud said that the collegium had taken into “consideration the seniority of Chief Justices and senior puisne Judges
”

    Who are Puisne Judge?

    • According to the dictionary, the word puisne has French origins, which means “later born” or younger.
    • It is pronounced / “puny”, the English word that means small or undersized.
    • Puisne is almost always used in the context of judges, and essentially denotes seniority of rank.
    • The term puisne judge is used in common law countries to refer to judges who are ranked lower in seniority, i.e., any judge other than the Chief Justice of that court.

    Now again, what is common law?

    • Common law is the body of law that is created by judges through their written opinions, rather than through statutes or constitutions (statutory law).
    • Common law, which is used interchangeably with ‘case law’, is based on judicial precedent.
    • The United Kingdom (UK) and the Commonwealth countries, including India, are common law countries.

    Legal reference to Puisne Judges

    In the Third Judges Case ruling in 1998, one of the two cases that led to the evolution of the collegium system, the Supreme Court clarified that-

    • The CJI must make a recommendation to appoint a Judge of the Supreme Court and to transfer a Chief Justice or puisne Judge of a High Court in consultation with the four seniormost puisne Judges of the Supreme Court.

    Is a “puisne judge” in India the same as in the UK?

    • In the UK, puisne judges are judges other than those holding distinct titles.
    • The Supreme Court of Judicature Act, 1877 defined a “puisne judge” as any judge of the High Court besides the Lord Chancellor, the Lord Chief Justice of England, and the Master of the Rolls.
    • In India, all judges have the same judicial powers.
    • As the seniormost judge of a court, the Chief Justice has an additional administrative role.
    • In India, there is a reference to a puisne judge only while considering the order of seniority for appointments, elevations to High Courts, etc., but it does not have a bearing on the exercise of a judge’s judicial power.

    What is the recent context?

    • The Supreme Court collegium recommended current Chief Justices of the Allahabad and Gujarat High Courts respectively, for appointment as judges of the Supreme Court.
    • While giving reasons for its recommendation, the collegium said that the decision was made taking “into consideration the seniority of Chief Justices and senior puisne Judges in their respective parent High Courts.
    • This was done because seniority is one of the several criteria that are considered while making appointments to the higher judiciary.

     

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  • Who are the Particularly Vulnerable Tribal Groups (PVTGs)?

    The Union Budget 2023-24 has provided to launch the Pradhan Mantri PVTG (Particularly Vulnerable Tribal Group) Development Mission in order to saturate the PVTG families and habitations with basic facilities.

    What is the budgetary announcement about?

    • The Pradhan Mantri PVTG Mission will be launched as part of ‘Reaching The Last Mile’, one of the seven Saptarishi priorities enlisted in this year’s Budget.
    • More details are awaited for this new.

    Particularly Vulnerable Tribal Groups (PVTGs)

    • There are certain tribal communities who have declining or stagnant population, low level of literacy, pre-agricultural level of technology and are economically backward.
    • They generally inhabit remote localities having poor infrastructure and administrative support.
    • These groups are among the most vulnerable section of our society as they are few in numbers, have not attained any significant level of social and economic development.
    • 75 such groups have been identified and categorized as Particularly Vulnerable Tribal Groups (PVTGs).

    Origin of the concept

    • The Dhebar Commission (1960-1961) stated that within Scheduled Tribes there existed an inequality in the rate of development.
    • During the fourth Five Year Plan a sub-category was created within Scheduled Tribes to identify groups that considered to be at a lower level of development.
    • This was created based on the Dhebar Commission report and other studies.
    • This sub-category was named “Primitive tribal group”.

    Features of PVTGs

    • The features of such a group include a:
    1. Pre-agricultural system of existence
    2. Practice of hunting and gathering
    3. Zero or negative population growth
    4. Extremely low level of literacy in comparison with other tribal groups
    • Groups that satisfied any one of the criterion were considered as PTG.
    • In 2006 the government of India proposed to rename “Primitive tribal group” as Particularly vulnerable tribal group”.

     

    Try this PYQ:

    Q.Consider the following statements about Particularly Vulnerable Tribal Groups (PVTGs) in India:

    1. PVTGs reside in 18 States and one Union Territory.
    2. A stagnant or declining population is one of the criteria for determining PVTG status.
    3. There are 95 PVTGs officially notified in the country so far.
    4. Irular and Konda Reddi tribes are included in the list of PVTGs.

    Which of the statements given above are correct? (CSP 2019)

    (a) 1, 2 and 3

    (b) 2, 3 and 4

    (c) 1, 2 and 4

    (d) 1, 3 and 4

     

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  • Vishakhapatnam is Andhra Pradesh’s new Capital

    vishakha

    Visakhapatnam will be the new capital of Andhra Pradesh, announced the Chief Minister.

    AP’s move for three capitals

    • AP had introduced a ‘Three Capitals Act’ titled Andhra Pradesh Decentralisation and Inclusive Development of All Regions Act, 2020.
    • Thus, it was decided that:
    1. Amaravati was to be the Legislative capital
    2. Visakhapatnam the Executive capital and
    3. Kurnool the Judicial capital
    • However, the Andhra Pradesh High Court repealed this Act citing that the legislature has no competence to enact any law for shifting the three organs of the capital.

    Concerns raised by AP government

    • AP contended that the judgement was in violation of the basic structure of the Constitution as the HC cannot hold that the State does not have the powers to decide on its capital.
    • The judgement was against the doctrine of separation of powers as it sought to preempt the legislature from taking up the issue (of three capitals).
    • Further, it is argued that under the federal structure of the Constitution, every State has an inherent right to determine where it should carry out its capital functions from.

    Reasons for AP’s consideration

    (1) Viable option of Visakhapatnam

    • Vizag always had been the biggest city, after Hyderabad, even in the combined State.
    • It has all the settings to become a good living space.

    (2) Sri Krishna panel recommendations

    • The advantages and qualities of Visakhapatnam to become the capital was elaborately deliberated by the Sri Krishna Committee to study the alternatives for a new capital for the State of Andhra Pradesh.
    • Coming to suggestion for the alternative capital, the Committee primarily took up three things for consideration — creation of single city or super city in greenfield location, expanding existing cities and distributed development.

    (3) Decentralisation

    • This idea was elaborately described in the Sri Bagh pact.
    • The pact clearly defined decentralisation, for the benefit of all three main regions such as Coastal AP, Godavari and Krishna districts and Rayalaseema.

    Major practical problems

    • Continuum of work: The government argues that the Assembly meets only after gaps of several months, and government Ministers, officers, and staff can simply go to Amaravati when required.
    • Logistics nightmare: coordinating between seats of legislature and executive in separate cities will be easier said than done.
    • Time and costs of travel: The distances in Andhra Pradesh are not inconsiderable. Executive capital Visakhapatnam is 700 km from judicial capital Kurnool, and 400 km from legislative capital Amaravati.

    Examples of multi-capital states in India

    • Among Indian states, Maharashtra has two capitals– Mumbai and Nagpur (which holds the winter session of the state assembly).
    • Himachal Pradesh has capitals at Shimla and Dharamshala (winter).
    • The former state of Jammu & Kashmir had Srinagar and Jammu (winter) as capitals where Darbar Move is carried out.

     

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  • Artform in news: Shumang Leela

    shumang leela

    This newscard is an excerpt from the original article published in TH.

    Shumang Leela

    • Shumang Leela is a unique traditional form of theatre in Manipur.
    • The tradition is believed to be descended from Lai Haraoba, a ritual of the Meitei community of Manipur.

    Types of this dance

    Shumang Leela is of two types:

    1. Nupa Shumang Leela: It performed only by men. Here the roles of women are all played by men, called Nupi Shabis.
    2. Nupi Shumang Leela: It performed only by women and the roles of men are played by women.

    Performance details

    • The plays serve as a medium to spread awareness among people of social, political and economic issues. Shumang Leelas may also discuss moral values, unity and integrity.
    • This theatre form has for long been trying to strengthen the bond of brotherhood and friendship among various communities in the State.

    Significance of the art

    • In a society marked by heteronormativity, the gender-bending nature of Shumang Leela makes it a unique art form that is fraught with complexity.
    • The men who take up female roles or vice versa are highly appreciated and laughed at.
    • The traditional theatre form has preserved its original form, and its aim to inform and entertain has remained unchanged.

     

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  • Project ELLORA to preserve ‘rare’ Indian languages with AI

    Microsoft’s Project ELLORA is helping small languages like Gondi, Mundari become eloquent for the digital world.

    Project ELLORA

    • To bring ‘rare’ Indian languages online, Microsoft launched the Project ELLORA or Enabling Low Resource Languages in 2015.
    • Under the project, researchers are building digital resources of the languages.
    • They say that their purpose is to preserve a language for posterity so that users of these languages “can participate and interact in the digital world.”

    How is ELLORA creating a language dataset?

    • The researchers are mapping out resources, including printed literature, to create a dataset to train their AI model.
    • The team is also working with these communities on the project.
    • By involving the community in the data collection process, researchers hope to create a dataset that is both accurate and culturally relevant.

     

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  • How do ruminants contribute to Methane Pollution?

    methane

    Bill Gates has invested in a climate technology start-up that aims to curtail the methane emissions of cow burps.

    What is the news?

    • The startup Rumin8 is developing a variety of dietary supplements to feed to cows in a bid to reduce the amount of methane they emit into the atmosphere.
    • The supplement includes red seaweed, which is believed to drastically cut methane output in cows.

    What is Methane?

    • Methane is a greenhouse gas, which is also a component of natural gas.
    • There are various sources of methane including human and natural sources.
    • The anthropogenic sources are responsible for 60 per cent of global methane emissions.
    • It includes landfills, oil and natural gas systems, agricultural activities, coal mining, wastewater treatment, and certain industrial processes.
    • The oil and gas sectors are among the largest contributors to human sources of methane.
    • These emissions come primarily from the burning of fossil fuels, decomposition in landfills and the agriculture sector.

    How do cows and other animals produce methane?

    • Ruminant animals such as cows, sheep, goats, and buffaloes release this methane mainly through burping.
    • They have a special type of digestive system that allows them to break down and digest food that non-ruminant species would be unable to digest.
    • Stomachs of ruminant animals have four compartments, one of which, the rumen, helps them to store partially digested food and let it ferment.
    • This partially digested and fermented food is regurgitated by the animals who chew through it again and finish the digestive process.
    • However, as grass and other vegetation ferments in the rumen, it generates methane, a potent greenhouse gas.

    How much do these ruminants contribute to emissions?

    • Given the very large numbers of cattle and sheep on farms in dairy-producing countries, these emissions add up to a significant volume.
    • It is estimated that the ruminant digestive system is responsible for 27 per cent of all methane emissions from human activity.

    Why is methane such a big problem?

    • Methane is one of the main drivers of climate change, responsible for 30 per cent of the warming since preindustrial times, second only to carbon dioxide.
    • Over a 20-year period, methane is 80 times more potent at warming than carbon dioxide, according to a report by the UNEP.
    • It’s also the primary contributor to the formation of ground-level ozone, a colourless and highly irritating gas that forms just above the Earth’s surface.
    • According to a 2022 report, exposure to ground-level ozone could be contributing to 1 million premature deaths every year.
    • Several studies have shown that in recent years, the amount of methane in the atmosphere has dramatically shot up.

    Mitigating methane emissions

    • Scientists have been working on to make these animals more sustainable and less gassy.
    • A 2021 study, published in the journal PLUS ONE, found that adding seaweed to cow feed can reduce methane formation in their guts by more than 80 per cent.
    • Apart from this, researchers are also trying to find gene-modifying techniques to curtail methane emissions in these animals.
    • Last year, scientists in New Zealand announced they had started the world’s first genetic programme to address the challenge of climate change by breeding sheep that emit lower amounts of methane.

    Global collaboration against methane pollution

    Ans. Global Methane Initiative (GMI)

    • GMI is a voluntary Government and an informal international partnership having members from 45 countries including the United States and Canada.
    • India last year co-chaired along with Canada the GMI leadership meet held virtually.
    • The forum has been created to achieve global reduction in anthropogenic methane emission through partnership among developed and developing countries having economies in transition.
    • The forum was created in 2004 and India is one of the members since its inception and has taken up Vice-Chairmanship for the first time in the Steering Leadership along with USA.

    Back2Basics: CO2 Equivalents

    • Each greenhouse gas (GHG) has a different global warming potential (GWP) and persists for a different length of time in the atmosphere.
    • The three main greenhouse gases (along with water vapour) and their 100-year global warming potential (GWP) compared to carbon dioxide are:

    1 x – carbon dioxide (CO2)

    25 x – methane (CH4) – I.e. Releasing 1 kg of CH4into the atmosphere is about equivalent to releasing 25 kg of CO2

    298 x – nitrous oxide (N2O)

    • Water vapour is not considered to be a cause of man-made global warming because it does not persist in the atmosphere for more than a few days.
    • There are other greenhouse gases which have far greater global warming potential (GWP) but are much less prevalent. These are sulphur hexafluoride (SF6), hydrofluorocarbons (HFCs), and perfluorocarbons (PFCs).
    • There are a wide variety of uses for SF6, HFCs, and PFCs but they have been most commonly used as refrigerants and for fire suppression.
    • Many of these compounds also have a depleting effect on ozone in the upper atmosphere.

     

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  • Domestic Goat as a Drug Factory

    goat

    India’s domestic goats have attracted the attention of biotechnology companies wishing to produce therapeutic proteins in bulk.

    Domestication of Goats

    • The domestic goat (Capra hircus) is a familiar presence in the rural landscape of India and in many developing countries.
    • The goat has played an important economic role in human communities from the time it was domesticated about 10,000 years ago.
    • It has even been argued that the domestication of goats was an important step in mankind’s shift from a hunting-gathering lifestyle to agricultural settlements.

    Various breeds found in India

    • The Food and Agriculture Organisation (FAO) estimates that the world has 830 million goats belonging to about 1,000 breeds.
    • India has 150 million from over 20 prominent breeds including-
    1. Marwari: Rajasthan has the most number of goats — the Marwari goat found here is hardy and well-adapted to the climate of deserts.
    2. Osmanabadi: Another hardy breed, found in the dry regions of Maharashtra, Telangana and North Karnataka is the Osmanabadi.
    3. Malabari: Also called Tellicherry of North Kerala, it is a prolific breed with low-fat meat, and shares these traits with the beetal goat of Punjab.
    4. Black Bengal goat: The east Indian Black Bengal goat is a vital contributor to the livelihoods of the rural poor of Bangladesh. It contributes over 20 million square feet of skin and hides to the world’s demands for leather goods, from fire-fighters gloves to fashionable handbags.
    5. Jamunapari: These goats from Uttar Pradesh were favoured as they yield 300 kg of milk during eight months of lactation. Once in England, the Jamunapari was bred with local breeds to produce the Anglo-Nubian, a champion producer of high-fat milk.

    Why are goats significant for farmers?

    • Goats have a quick generation time of about two years.
    • General benefits of goat milk out-powers the high-fat buffalo milk.
    • As many farmers lack the space or funds to rear cattle, the goat is rightly called “the poor man’s cow”.
    • There are no specific fodder requirements for goat. It can feed even on the neem leaves.

    Significance in therapeutics: Antithrombin production

    • Goats have attracted the attention of biotechnology companies wishing to produce therapeutic proteins in bulk.
    • The first success came with ATryn, the trade name for a goat-produced antithrombin III molecule.
    • Antithrombin keeps the blood free from clots, and its deficiency (usually inherited) can lead to serious complications such as pulmonary embolisms.
    • Affected individuals need antithrombin injections twice a week, usually purified from donated blood.
    • Recently, the monoclonal antibody cetuximab, which has been approved by the FDA as an anti-cancer drug against certain lung cancers, has also been produced in cloned goat lines.

    Why is it a significant development?

    • Transgenic goats carrying a copy of the human antithrombin gene have cells in their mammary glands that release this protein into milk.
    • It has been claimed that one goat could produce antithrombin equivalent to what was obtained from 90,000 units of human blood.
    • Large quantities can be made this way (10 grams per litre of milk).

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