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Type: Prelims Only

  • Capital Markets: Challenges and Developments

    What are Non-convertible Debentures?

    Prelims Only | Economics | Mains Paper 3: Investment Models

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Non-convertible Debentures

    Mains level: Not Much

    Several companies have announced public issues to raise funds through non-convertible debentures.

    What are Debentures?

    • Debentures are long-term financial instruments issued by a company for specified tenure with a promise to pay fixed interest to the investor.
    • They can be held by individuals, banking companies, primary dealers other corporate bodies registered or incorporated in India and unincorporated bodies.
    • Their types include:
    1. Convertible debentures (CDs): They are a type of debentures that can be converted into equity shares of the company.
    2. Non-convertible debentures (NCDs): They are defined as the type of debentures that cannot be converted into equity shares of the company.

    What are NCDs?

    • Some debentures have a feature of convertibility into shares after a certain point of time at the discretion of the owner.
    • The debentures which can’t be converted into shares or equities are called non-convertible debentures (or NCDs).
    • They are debt financial instruments that companies use to raise medium- to long-term capital.

    Benefits offered by NCDs

    • At a time when fixed deposit rates are in low single digits, these NCD offerings look lucrative.
    • NCDs offer interest rates between 8.25–9.7%.

    Risks posed

    • Although NCDs are generally considered safe fixed-income instruments, some recent defaults have made investors cautious.
    • NCDs can be either secured by the issuer company’s assets, or unsecured.
    • Certain issuers, with credit rating below investment grade, had in the past issued both a secured NCD and another unsecured one through the same offer document, with different credit ratings.
    • The risk is high in the case of unsecured NCDs, even though they offer high-interest rates.
    • Credit rating of the issuer is a key factor to consider before investing in any NCD.

     

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  • Wildlife Conservation Efforts

    Ambergris: The Floating Gold

    Prelims Only | Enviro & Biodiversity | Mains Paper 3: Conservation, Environmental Pollution & Degradation, Eia

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Ambergris

    Mains level: Not Much

    The Crime Branch in Pune and seized 550 grams of ambergris, also known as ‘floating gold’.

    What is Ambergris?

    • Ambergris, which means gray amber in French, is a waxy substance that originates from the digestive system of the protected sperm whales.
    • It is incorrectly referred to as ‘whale vomit’.
    • It is produced in the gastrointestinal tract of some of the sperm whales for the passage of hard, sharp objects that are ingested when the whale eats large quantities of marine animals.

    Why is it so expensive?

    • Investigating agencies from across India who have seized ambergris in the recent past estimate its value to be somewhere between Rs 1 to 2 crores per kilogram, depending on the purity and quality.
    • Being extremely rare contributes to its high demand and high price in the international market.

    Its uses

    • Traditionally, ambergris is used to produce perfumes that have notes of musk.
    • While there are records of it being used to flavor food, alcoholic beverages and tobacco in some cultures in the past, it is rarely used for these purposes presently.

    Legalities and recent cases of seizure in India

    • While there is a ban on possession and trade of ambergris in countries like the USA, Australia and India, in several other countries it is a tradable commodity.
    • In the Indian context, the sperm whales are a protected species under Schedule 2 of the Wildlife Protection Act, 1972 and possession or trade of any of its by-products, including Ambergris is illegal.
    • It has been observed that the gangs smuggling the ambergris procure it from coastal areas and ship it to destination countries via some other countries with whom India has comparatively less stringent sea trade.

     

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  • Modern Indian History-Events and Personalities

    Significance of Raigad Fort in Maratha History

    Prelims Only | | Mains Paper 1: Modern Indian History

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Raigad Fort

    Mains level: Not Much

     

    President Ram Nath Kovind is commencing his visit to Maharashtra by visiting the Raigad Fort where he will pay tribute to Chhatrapati Shivaji Maharaj.

    Where is Raigad fort located?

    • Raigad is a hill fort situated about 25 km from Mahad in the Raigad district and stands 2,851 feet above sea level.
    • The British Gazette states the fort was known to early Europeans as the Gibraltar of the East.
    • Its decisive feature is a mile and a half flat top which has adequate room for buildings.
    • In its prime, the fort had 300 stone houses and a garrison of 2,000 men.

    When was it built?

    • The fort, which was earlier called Rairi, was the seat of the Maratha clan Shirke in the 12th century.
    • The fort changed hands a number of times from the dynasty of Bahaminis to the Nizamshahis and then the Adilshahis.
    • In 1656, Chhatrapati Shivaji captured it from the More’s of Javli who were under the suzerainty of the Adilshahi Sultanate.
    • The fort not only helped Shivaji challenge the supremacy of the Adilshahi dynasty but also opened up the routes towards Konkan for the extension of his power.

    Significance of the fort in Shivaji’s life

    • In 1662, Shivaji formally changed the fort’s name to Raigad and added a number of structures to it.
    • By 1664, the fort had emerged as the seat of Shivaji’s government.
    • As the Marathas under the leadership of Shivaji gained strength in their struggle against the Mughals, the announcement of a sovereign, independent state was made.
    • On June 6, 1674, Shivaji was coronated at Raigad by Gagabhatt where he took on the title of Chhatrapati.
    • Six years later, Shivaji passed away in Raigad in 1680 and has been cremated at the fort.

    Importance of Raigad Fort in Maharashtra’s polity

    • Chhatrapati Shivaji is the tallest and the most revered icon in Maharashtra and there is a constant attempt by political parties of all hues to appropriate his legacy.
    • Due to the significance of Raigad in his life, many political leaders make it a point to visit the fort.
    • Maharashtra has already announced a mid-sea memorial in the Arabian Sea for the Maratha warrior king.

     

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  • International Space Agencies – Missions and Discoveries

    Laser Communications Relay Demonstration (LCRD)

    Prelims Only | Science Tech | Mains Paper 3: Awareness in various sc and tech fields

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: LCRD

    Mains level: NA

    NASA has launched its new Laser Communications Relay Demonstration (LCRD) — the agency’s first-ever laser communications system.

    What is LCRD?

    • LCRD involves laser communications – also called optical communications which uses infrared light to send information.
    • LCRD is launched in a geosynchronous orbit, over 35,000km above Earth.
    • LCRD has two optical terminals – one to receive data from a user spacecraft, and the other to transmit data to ground stations.
    • The modems will translate the digital data into laser signals. This will then be transmitted via encoded beams of light.

    Benefits offered by LCRD

    • Currently, most NASA spacecraft use radio frequency communications to send data.
    • Optical communications will help increase the bandwidth 10 to 100 times more than radio frequency systems.
    • The LCRD will help the agency test optical communication in space.

    Laser vs Radio

    • Laser communications and radio waves use different wavelengths of light. It uses infrared light and has a shorter wavelength than radio waves.
    • This will help the transmission of more data in a short time.
    • Using infrared lasers, LCRD will send data to Earth at 1.2 gigabits-per-second (Gbps).
    • It would take roughly nine weeks to transmit a completed map of Mars back to Earth with current radio frequency systems. With lasers, we can accelerate that to about nine days, says NASA.

    Other advantages

    Optical communications systems are smaller in size, weight, and require less power compared with radio instruments.

    • A smaller size means more room for science instruments.
    • Less weight means a less expensive launch.
    • Less power means less drain on the spacecraft’s batteries.

     

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  • New Species of Plants and Animals Discovered

    Species in news: Physella Acuta

    Prelims Only | Enviro & Biodiversity | Mains Paper 3: Conservation, Environmental Pollution & Degradation, Eia

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Snail Physella Acuta

    Mains level: Not Much

    A tiny snail with a striking, pellucid golden-yellow shell found in the Edappally canal in Kochi has been flagged as an invasive species that could play havoc with native ecosystems.

    Snail Physella Acuta

    • First described by J.P.R. Draparnaud in 1805, Physella acuta is considered native to North America but is now found in all continents except Antarctica.
    • The snail was first reported in India in the early 1990s.
    • It is believed to have reached Kerala through the aquarium trade, a major vector for invasive species.
    • In Kerala, the snail had made its home in a highly polluted reach plagued by high sedimentation, untreated sewage, commercial effluents, construction wastes and a thick growth of invasive aquatic weeds.

    Threats posed

    • This snail plays host to worms that can cause food-borne diseases and skin itches in humans.
    • Moreover, its rapid growth rate, air-breathing capability, and tolerance to pollution make it a potential competitor to native fauna.

     

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  • Agmark, Hallmark, ISI, BIS, BEE and Other Ratings

    How is Gold Hallmarking being implemented?

    Prelims Only | Economics | Mains Paper 3: Effects Of Liberalization On The Economy, Changes In Industrial Policy and their effects on Industrial Growth

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Hallmark Gold

    Mains level: Not Much

    The Government has made it mandatory for the introduction of a Hallmark Unique Identification (HUID) number in every piece of jewellery.

    What is HUID?

    • HUID is a six-digit alphanumeric code, or one that consists of numbers and letters. It is given to every piece of jewellery at the time of hallmarking and is unique for each piece.
    • It is being implemented by the Bureau of Indian Standards (BIS) in a phased manner.
    • Hallmarking & HUID are mandatory for 14-, 18- and 22-carat gold jewellery and artefacts.
    • Before buying any piece of gold jewellery, the buyer should check all these three symbols.

    Implementation of HUID

    • Symbols: The hallmark consists of three symbols which give some information about the jewellery piece. The first symbol is the BIS logo; the second indicates purity and fineness; and the third symbol is the HUID.
    • A&H centre: Jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre.

    Why is it being introduced?

    • Authentication: HUID gives a distinct identity to each piece of jewellery enabling traceability.
    • Credibility: It is critical to the credibility of hallmarking and to help address complaints against adulteration.
    • Registration: In HUID-based hallmarking, registration of jewellers is an automatic process with no human interference.
    • Prevents malpractice: It also helps check malpractice by members of the trade.
    • Data privacy: It is a secure system and poses no risk to data privacy and security.
    • Financial tracking: HUID provides traceability and financial tracking of purchases.

    Issues with HUID

    • Time-consuming: It is cumbersome to number each piece of jewellery
    • Intricate jewellery: HUID cannot be engraved in tiny pieces.
    • Unnecessary expense: Also it will increase cost for consumers.
    • Infrastructural issues: there needs to be ample AH Centres.

    What does this mean for the consumer?

    • Consumer protection: Given that gold plays a big role in the lives of Indians, mandating gold hallmarking is aimed at protecting consumer interests.
    • Assurance of quality: It provides ‘third-party assurance’ to consumers on the purity of gold jewellery.

    Conclusion

    • HUID concept is innovative, out-of-the-box thinking and more than makes up for stepping in late with mandatory hallmarking.
    • It is the sort of global leadership India has and needs to show in gold-related reforms.

     

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  • ISRO Missions and Discoveries

    Dhawan-1: India’s first privately developed Cryogenic Rocket

    Prelims Only | Science Tech | Mains Paper 3: Achievements Of Indians In S&T

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Dhawan-1

    Mains level: Space startups in India

    Skyroot Aerospace successfully tested Dhawan-1 last month. It became the country’s first privately developed fully cryogenic rocket engine.

    Dhawan-1

    • The indigenous engine was developed using 3D printing with a superalloy.
    • It runs on two high-performance rocket propellants — liquid natural gas (LNG) and liquid oxygen (LoX).
    • This was after successfully designing and developing the solid propulsion rocket engine, the first private firm in the country to do so.

    Other projects by Skyroot

    • Skyroot is working simultaneously on different stages of both solid propulsion and liquid propulsion engines.
    • It is named after eminent scientists, like Kalam (Abdul Kalam) series for the former and Dhawan (Satish Dhawan).
    • The launch vehicles are named after Vikram Sarabhai.

     

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  • Tribes in News

    Tribes in news: Konyak

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Konyak Tribe

    Mains level: Not Much

    An angry mob allegedly vandalized an Assam Rifles camp and the office of the Konyak Union in Nagaland’s Mon district.

    Konyak Tribe

    • With a population of roughly 3 lakh, the area inhabited by the Konyaks extends into Arunachal Pradesh, with a sizeable population in Myanmar as well.
    • They are known to be one of the fiercest warrior tribes in Nagaland.
    • The Konyaks were the last to give up the practice of head-hunting – severing heads of enemies after attacking rival tribes – as late as the 1980s.

    Significance in Naga Peace Process

    • Mon is the only district in Nagaland where the separatist group has not been able to set up base camps, largely due to resistance from the Konyaks.
    • The Konyaks therefore, are imperative for a smooth resolution of the peace talks, as well as the post-talk peace process in the state.

    Also read:

    Naga Peace Accord

     

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  • Modern Indian History-Events and Personalities

    Who was St. Francis Xavier?

    Prelims Only | History | Mains Paper 1: Arts & Culture

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: St. Francis Xaviers and his missions

    Mains level: Not Much

    The Prime Minister has greeted the people of Goa on the day of the Feast of St. Francis Xavier.

    St. Francis Xavier (1506-1552)

    • Francis Xavier venerated as Saint Francis Xavier, was a Catholic missionary and saint who was a co-founder of the Society of Jesus.
    • He was born in Javier, Kingdom of Navarre (in present-day Spain), he was a companion of Ignatius of Loyola and one of the first seven Jesuits.
    • He led an extensive mission into Asia, mainly in the Portuguese Empire of the time and was influential in evangelization work, most notably in India.

    His works

    • He has asked for a special minister to the king of Portugal whose sole office would be to further Christianity in Goa.
    • He also was the first Christian missionary to venture into Japan, Borneo, the Maluku Islands, and other areas.
    • In those areas, struggling to learn the local languages and in the face of opposition, he had less success than he had enjoyed in India.
    • Xavier was about to extend his missionary preaching to China when he died on Shangchuan Island.
    • Known as the “Apostle of the Indies” and “Apostle of Japan”, he is considered to be one of the greatest missionaries since Paul the Apostle.

    Try this question from CSP 2021

    Q. Consider the following statements:

    1. Francis Xavier was one of the founding members of the Jesuit Order.
    2. Francis Xavier died in Goa and a church is dedicated to him there.
    3. The Feast of St. Francis Xavier is celebrated in Goa each year.

    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

     

    Post your answers here.

     

     

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  • Modern Indian History-Events and Personalities

    Paika Rebellion to be included as ‘case study’ in history textbook

    Prelims Only | | Mains Paper 1: Modern Indian History

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Paika Rebellion

    Mains level: Peasants uprising in India

    The 1817 Paika Rebellion of Odisha would be included as a case study in the Class 8 NCERT history textbook, informed the Union Culture Minister.

    Who were the Paiks?

    • The Paiks of Odisha were the traditional landed militia and enjoyed rent free land tenures for their military service and policing functions on a hereditary basis.

    Paika Rebellion

    • When the British started tinkering with the revenue system in 1803, the farming community of Odisha rose in rebellion.
    • At that critical juncture, Bakshi Jagabandhu Bidyadhar — the military chief of the King of Khurda — led his army of Paikas forcing the British East India Company forces to retreat.
    • The rebellion came to be known as Paika Bidroh (Paika rebellion).

    When did it take place?

    • The rebellion, by the landed militia of Khurda called Paiks, predates the first war of independence in 1857 but did not get similar recognition.
    • It took place when the British East India Company wrested the rent-free land that had been given to the Paiks for their military service to the Kingdom of Khurda.

    Try this PYQ from CSP 2020:

    Q. With reference to the history of India, ‘ulgulan’ or the great tumult is the description of the which of the following?

    (a) The revolt of 1857

    (b) The Mappila rebellion of 1921

    (c) The Indigo revolt of 1859-1860

    (d) Birsa Munda’s revolt of 1899-1900

     

    Post your answers here.

     

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