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  • SEBI introduces T+1 Settlement System

    The Capital markets regulator Securities and Exchange Board of India (SEBI) has introduced T+1 settlement cycle for completion of share transactions on optional basis in a move to enhance market liquidity.

    What is T+1 Settlement System?

    • T+1 means that settlements will have to be cleared within one day of the actual transactions taking place.
    • Currently, trades on the Indian stock exchanges are settled in two working days after the transaction is done (T+2).
    • In April 2002, stock exchanges had introduced a T+3 rolling settlement cycle. This was shortened to T+2 from April 1, 2003.

    What has Sebi allowed?

    • SEBI has allowed stock exchanges to start the T+1 system as an option in place of T+2.
    • If it opts for the T+1 settlement cycle for a scrip, the stock exchange will have to mandatorily continue with it for a minimum 6 months.
    • Thereafter, if it intends to switch back to T+2, it will do so by giving one month’s advance notice to the market.
    • Any subsequent switch (from T+1 to T+2 or vice versa) will be subject to a minimum period.
    • A stock exchange may choose to offer the T+1 settlement cycle on any of the scrips, after giving at least one month’s advance notice to all stakeholders, including the public at large.

    Why T+1 settlement?

    • Reduced settlement time: A shortened cycle not only reduces settlement time but also reduces and frees up the capital required to collateralize that risk.
    • Quick settlement: T+1 also reduces the number of outstanding unsettled trades at any instant, and thus decreases the unsettled exposure to Clearing Corporation by 50%.
    • Speedy recovery of assets: The narrower the settlement cycle, the narrower the time window for a counterparty insolvency/bankruptcy to impact the settlement of a trade.
    • Risk reduction: Systemic risk depends on the number of outstanding trades and concentration of risk at critical institutions such as clearing corporations, and becomes critical when the magnitude of outstanding transactions increases.

    How does T+2 work?

    • If an investor sells shares, settlement of the trade takes place in two working days (T+2).
    • The broker who handles the trade will get the money, but will credit the amount in the investor’s account only.
    • In effect, the investor will get the money only after three days.
    • In T+1, settlement of the trade takes place in one working day and the investor will get the money on the following day.
    • The move to T+1 will not require large operational or technical changes by market participants, nor will it cause fragmentation and risk to the core clearance and settlement ecosystem.

    Why are foreign investors opposing it?

    • Foreign investors operating from different geographies would face time zones, information flow process, and foreign exchange problems.
    • Foreign investors will also find it difficult to hedge their net India exposure in dollar terms at the end of the day under the T+1 system.
    • In 2020, SEBI had deferred the plan to halve the trade settlement cycle to one day (T+1) following opposition from foreign investors.

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    Back2Basics: SEBI

    • The SEBI is the regulatory body for securities and commodity market in India under the jurisdiction of Ministry of Finance Government of India.
    • It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

    Jurisdiction of SEBI

    • SEBI has to be responsive to the needs of three groups, which constitute the market:
    1. Issuers of securities
    2. Investors
    3. Market intermediaries

    SEBI has three powers rolled into one body: quasi-legislative, quasi-judicial and quasi-executive.

    • It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity.
    • Though this makes it very powerful, there is an appeal process to create accountability.
    • There is a Securities Appellate Tribunal which is a three-member tribunal and is currently headed by Justice Tarun Agarwala, former Chief Justice of the Meghalaya High Court.
    • A second appeal lies directly to the Supreme Court.

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  • What is Vishnuonyx?

    Between 12.5 million and 14 million years ago, members of a genus of otters called Vishnuonyx lived in the major rivers of southern Asia.

    Vishnuonyx neptuni

    • Vishnuonyx were mid-sized predators that weighed, on average, 10-15 kg.
    • Before this, the genus was known only in Asia and Africa (recent findings show that Vishnuonyx reached East Africa about 12 million years ago, according to the release).
    • Vishnuonyx depended on water and could not travel long distances over land.

    Why in news?

    • German researchers have discovered the fossil of a previously unknown species, which they have named Vishnuonyx neptuni, meaning ‘Neptune’s Vishnu’.
    • Fossils of these now extinct otters were first discovered in sediments found in the foothills of the Himalayas.
    • Now, a newly found fossil indicates it had travelled as far as Germany. ‘
    • The dispersal of Vishnuonyx otters from the Indian subcontinent to Africa and Europe about 13 million years ago. ‘
    • This is the first discovery of any member of the Vishnuonyx genus in Europe; it is also its most northern and western record till date.

    How did it travel as far as Europe?

    • According to the researchers, its travels over 6,000 km were probably made possible by the geography of 12 million years ago, when the Alps were recently formed.
    • These Alps and the Iranian Elbrus Mountains were separated by a large ocean basin, which would have made it easier for the otters to cross it.
    • Researchers believe ‘Neptune’s Vishnu’ first reached southern Germany, followed by Ancient Guenz and eventually, the Hammerschmiede.

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  • Species in news: Sea Cucumber

    In a swift operation, the Indian Coast Guard (ICG) at Mandapam, Tamil Nadu seized two tonnes of sea cucumber, a banned marine species.

    Sea Cucumbers

    • Sea cucumbers are part of a larger animal group called echinoderms, which also contains starfish and sea urchins.
    • Their body shape is similar to a cucumber, but they have small tentacle-like tube feet that are used for locomotion and feeding.
    • One way that sea cucumbers can confuse or harm predators is by propelling their own toxic internal organs from their bodies in the direction of an attacker.
    • The organs grow back, and it may save them from being eaten.
    • They are found in virtually all marine environments throughout the world, from shallow to deep-sea environments.
    • They are benthic, meaning they live on the ocean floor. However, their larvae are planktonic, meaning they float in the ocean with the currents.

    Conservation status

    • Sea cucumber in India is treated as an endangered species listed under schedule I of Wildlife Protection Act of 1972.
    • It is primarily smuggled from Tamil Nadu to Sri Lanka in fishing vessels from Ramanathapuram and Tuticorin districts.

    (IUCN status is not available for this species)

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  • IISc finds alternative for single-use plastics

    Researchers from the Department of Material Engineering, Indian Institute of Science, Bengaluru (IISc) have found a way to make a substitute for single-use plastic that can, in principle help mitigate the problem of accumulating plastic waste in the environment.

    What is the new material?

    • IISc has developed polymers using non-edible oil and cellulose extracted from agricultural stubble.
    • These polymers can be moulded into sheets having properties suitable for making bags, cutlery or containers.
    • The material so made is bio-degradable, leak-proof and non-toxic.

    Key features

    • In order to obtain sheets with properties like flexibility suitable for making different articles, the researchers played with the proportions of cellulose to non-edible oil.
    • The more cellulose they added, and less non-edible oil, the stiffer was the material, so that it was more suitable to making tumblers and cutlery.
    • The greater the proportion of oil, the more flexible was the material and it could be moulded into sheets for making bags.

    Why needed?

    Ans. Plastic waste menace in India

    • According to a report by Central Pollution Control Board of India, for the year 2018-2019, 3.3 million metric tonnes of plastic waste are generated by Indians.
    • The bad news is that this may well be an under-estimation of the problem.
    • Another alarming statistic is that of all the plastic waste produced in the world, 79% enters the environment.
    • Only 9% of all plastic waste is recycled.
    • Accumulation of plastic waste is detrimental to the environment and when this waste finds its way into the sea, there can be major harm to aquatic ecosystems, too.

    Agricultural stubble

    • While plastic waste causes one type of pollution, agricultural stubble burning is responsible for air pollution in several States.
    • In Delhi, for example, the air quality index dips to indicate “severe” or “hazardous” level of pollution every winter, and this is due in part to the burning of agricultural stubble in the surrounding regions.

    Try this PYQ from CSP 2020:

    Which of the following statements are correct regarding the general difference between plant and animal cells?

    1. Plant cells have cellulose cell walls whilst animal cells do not.
    2. Plant cells do not have plasma membranes unlike animal cells which do.
    3. Mature plant cell has one large vacuole whilst animal cell has many small vacuoles.

    Select the correct answer using the code given below:

    (a) 1 and 2 only

    (b) 2 and 3 only

    (c) 1 and 3 only

    (d) 1, 2 and 3

     

    [wpdiscuz-feedback id=”yl9mtpfmnq” question=”Please leave a feedback on this” opened=”1″]Post your answers here.[/wpdiscuz-feedback]

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  • What is Planet Nine?

    A new study’s “treasure map” suggests that a planet several times more massive than Earth could be hiding in our solar system, camouflaged by the bright strip of stars that make up the Milky Way.

    Do not wonder. This too was a PYQ:

    Q.Which planet was downgraded to dwarf planet status?

    (a) Pluto

    (b) Mars

    (c) Earth

    (d) Venus

     

    [wpdiscuz-feedback id=”j8ws1stgve” question=”Please leave a feedback on this” opened=”1″]Post your answers here![/wpdiscuz-feedback]

    Planet 9

    • Planet Nine is a hypothetical planet in the outer region of the Solar System.
    • Its gravitational effects could explain the unlikely clustering of orbits for a group of extreme trans-Neptunian objects (ETNOs), bodies beyond Neptune that orbit the Sun at distances averaging more than 250 times that of the Earth.
    • Based on earlier considerations, this hypothetical super-Earth-sized planet would have had a predicted mass of five to ten times that of the Earth, and an elongated orbit 400 to 800 times as far from the Sun as the Earth.

    Curiosity for the ninth Planet

    • In August 2006, the International Astronomical Union broke several hearts when it announced that it had reclassified Pluto as a dwarf planet. ‘
    • The decision was based on Pluto’s size and the fact that it resides within a zone of other similarly-sized objects.

    Is everyone convinced that Planet Nine exists?

    • Researchers from across the globe have carried out several studies on Planet Nine and there are several theories about it, including one that stated Planet Nine could in fact be a black hole.
    • Another research has argued that the unknown object causing anomalous orbits of the trans-Neptunian objects could be a primordial black hole.
    • Yet another study noted that a trans-Neptunian object called 2015 BP519 had an unusual trajectory because it was affected by Planet Nine’s strong gravity.

    Back2Basics: Dwarf Planet

    • A dwarf planet is a small planetary-mass object that is in direct orbit of the Sun – something smaller than any of the eight classical planets, but still a world in its own right.
    • As of today, there are officially five dwarf planets in our Solar System.
    • The most famous is Pluto, downgraded from the status of a planet in 2006.
    • The other four, in order of size, are Eris, Makemake, Haumea and Ceres. The sixth claimant for a dwarf planet is Hygiea, which so far has been taken to be an asteroid.
    • These four criteria are – that the body orbits around the Sun, it is not a moon, has not cleared the neighborhood around its orbit, and has enough mass for its gravity to pull it into a roughly spherical shape.

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  • What is Serotype 2 Dengue?

    The Union Health Ministry has flagged the emerging challenge in 11 States across India of serotype 2 dengue, which it said is associated with “more cases and more complications” than other forms of the disease.

    Try this PYQ from CSP 2015:

    Q. Consider the following statements:

    1. In tropical regions, Zika virus disease is transmitted by the same mosquito that transmits dengue.
    2. Sexual transmission of Zika virus disease is possible.

    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

     

    [wpdiscuz-feedback id=”f66l7r4swb” question=”Please leave a feedback on this” opened=”1″]Post your answers here![/wpdiscuz-feedback]

    What is Dengue?

    • Dengue is a mosquito-borne viral infection, found in tropical and sub-tropical climates worldwide, mostly in urban and semi-urban areas.
    • It is transmitted by female mosquitoes mainly of the species Aedes aegypti and, to a lesser extent, Ae. albopictus.
    • These mosquitoes are also vectors of chikungunya, yellow fever and Zika viruses.
    • Dengue is widespread throughout the tropics, with local variations in risk influenced by rainfall, temperature, relative humidity and unplanned rapid urbanization.

    Its transmission

    • The virus is transmitted to humans through the bites of infected female mosquitoes, primarily the Aedes aegypti
    • Other species within the Aedes genus can also act as vectors, but their contribution is secondary to Aedes aegypti.
    • Mosquitoes can become infected from people who are viremic with dengue.

    Various serotypes

    • Dengue is caused by a virus of the Flaviviridae family and there are four distinct, but closely related, serotypes of the virus that cause dengue (DENV-1, DENV-2, DENV-3 and DENV-4).
    • Recovery from infection is believed to provide lifelong immunity against that serotype.
    • However, cross-immunity to the other serotypes after recovery is only partial and temporary.
    • Subsequent infections (secondary infection) by other serotypes increase the risk of developing severe dengue.

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  • Delhi-Mumbai Expressway: World’s longest

    The Minister for Road Transport and Highways Union Minister Nitin Gadkari concluded the review of the work progress on the Delhi-Mumbai Expressway.

    Delhi-Mumbai Expressway

    • The ambitious infra project started in the year 2018 is being constructed at a cost of Rs 98,000 crore and is scheduled for completion by March 2023.
    • States: Delhi, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra
    • Once ready, the expressway will feature a spur to Noida International Airport and Jawaharlal Nehru Port to Mumbai through a spur in the financial capital.
    • It will reduce travel time between certain cities to 12-12.5 hours from 24 hours.
    • The project is expected to improve connectivity to economic hubs of India like Jaipur, Ajmer, Kishangarh, Chittorgarh, Kota, Udaipur, Ujjain, Bhopal, Indore, Vadodara, Ahmedabad, and Surat.

    Key features of the expressway

    • The expressway which is eight-lane access-controlled can be expanded to a 12-lane expressway depending on the traffic volume
    • It will boast wayside amenities such as resorts, food courts, restaurants, fuel stations, logistics parks, facilities for truckers
    • For accident victims, it will offer a helicopter ambulance service as well as a heliport, which will use drone services for business
    • Along the highway, over two million trees and shrubs are planned to be planted
    • The highway project is Asia’s first and the world’s second to include animal overpasses in order to facilitate unrestricted wildlife movement
    • Besides, it will also involve two iconic eight-lane tunnels
    • The project will result in annual savings of more than 320 million litres of fuel as well as reduce Carbon dioxide emissions by 850 million kg
    • Over 12 lakh tonnes of steel will be consumed in the project’s construction, which is equivalent to constructing 50 Howrah bridges
    • For the project, 80 lakh tonnes of cement will be consumed, which is around 2 percent of the country’s annual cement production capacity
    • The ambitious Delhi-Mumbai Expressway project has also created job opportunities for thousands of trained civil engineers apart from generating over 50 lakh man-days of work

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  • Pseudo-melanism in Tigers of Simlipal

    A team of scientists has resolved the genetic mystery of Simlipal’s so-called black tigers.

    What are Black Tigers?

    • Tigers have a distinctive dark stripe pattern on a light background of white or golden.
    • A rare pattern variant, distinguished by stripes that are broadened and fused together, is also observed in both wild and captive populations.
    • This is known as pseudo-melanism, which is different from true melanism, a condition characterized by unusually high deposition of melanin, a dark pigment.
    • This pseudo-melanism is linked to a single mutation in Transmembrane Aminopeptidase Q (Taqpep), a gene responsible for similar traits in other cat species.

    Where are they mostly found?

    • While truly melanistic tigers are yet to be recorded, pseudo-melanistic ones have been camera-trapped repeatedly, and only, in Simlipal, a 2,750-km tiger reserve in Odisha, since 2007.
    • Launched in 2017, the study was the first attempt to investigate the genetic basis for this unusual phenotype (appearance).

    Why they are rare?

    • Mutants are genetic variations which may occur spontaneously, but not frequently, in nature.
    • A cub gets two copies of each gene from both parents, and a recessive gene can show up only in the absence of the dominant one.
    • So, two normal-pattern tigers carrying the recessive pseudo-melanism gene will have to breed together for a one-in-four probability of giving birth to a black cub.
    • But recessive genes are rare and it is unlikely that two unrelated tigers will carry the same one and pass it on together to a cub.

    Connection with Simlipal TR

    • In an ideal tiger world, where far-ranging individuals are never short of choices for partners, that makes succession of black tigers a rarity.
    • Under exceptional circumstances, a black tiger may succeed as part of a very small population that is forced to inbreed in isolation for generations.
    • As it turned out, that is what happened at Simlipal.
    • Pseudo-melanistic tigers are also present in three zoos in India — Nandankanan (Bhubaneswar), Arignar Anna Zoological Park (Chennai) and Bhagwan Birsa Biological Park (Ranchi) — where they were born in captivity.
    • All of them have ancestral links to one individual from Simlipal.

    What about natural selection?

    • Natural selection eliminates the weakest from a gene pool, and the traits of the more successful get passed on.
    • Niche modelling, the study said, shows higher frequency of melanistic leopards in darker tropical and subtropical forests than in drier open habitats.
    • Likewise, darker coats may confer a selective advantage in both hunting and avoiding hunters in Simlipal’s tropical moist deciduous and semi-evergreen closed-canopy forest, with a relatively darker understory.

    Try this PYQ:

    Two important rivers – one with its source in Jharkhand (and known by a different name in Odisha), and another, with its source in Odisha – merge at a place only a short distance from the coast of Bay of Bengal before flowing into the sea. This is an important site of wildlife and biodiversity and a protected area.

     

    Which one of the following could be this?
    (a) Bhitarkanika
    (b) Chandipur-on-sea
    (c) Gopalpur-on-sea
    (d) Simlipal

     

    Post your answers here.[wpdiscuz-feedback id=”plpfw4ge94″ question=”Please leave a feedback on this” opened=”1″][/wpdiscuz-feedback]

    Back2Basics: Project Tiger

    • Project Tiger is a tiger conservation program launched in April 1973 during PM Indira Gandhi’s tenure.
    • In 1970 India had only 1800 tigers and Project Tiger was launched in Jim Corbett National Park.
    • The project is administrated by the National Tiger Conservation Authority (NTCA).
    • It aims at ensuring a viable population of Bengal tigers in their natural habitats, protecting them from extinction etc.
    • Under this project the govt. has set up a Tiger Protection Force to combat poachers and funded relocation of villagers to minimize human-tiger conflicts.

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  • General Sherman: World’s largest tree

    Two wildfires in California are burning through the Sequoia National Park in the Sierra Nevada that is home to some of the largest trees in the world.

    Among these trees is the world’s largest tree popularly known as General Sherman, which firefighters are now trying to protect from the blaze.

    About General Sherman

    • The General Sherman tree is the world’s largest in terms of volume and exists in the Giant Forest sequoia grove of the national park.
    • As per recent estimates, General Sherman is about 2,200 years old.
    • It stands at a height of 275 feet (taller than the leaning tower of Pisa) and has a diameter of 36 feet at the base.
    • Even 60 feet above the base, the tree has a diameter of 17.5 feet.
    • Giant sequoia trees have existed in the national park for thousands of years and there are an estimated 2,000 such trees in the park.

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  • Gupta Era Temple uncovered in UP

    Last week, the Archaeological Survey of India (ASI) discovered remains of an ancient temple dating back to the Gupta period (5th century) in a village in Uttar Pradesh’s Etah district.

    Findings of the excavation

    • The Bilsarh site was declared ‘protected’ in 1928.
    • Every year, the ASI undertakes scrubbing work at the protected sites.
    • This year, the team discovered two decorative pillars close to one another, with human figurines resembling an ancient temple.
    • The stairs of the temple had ‘shankhalipi’ inscriptions, which were deciphered by the archaeologists as saying, ‘Sri Mahendraditya’, the title of Kumaragupta I of the Gupta dynasty.

    You will find tons of PYQs on Gupta Period. Try this recent one:

    Q. With reference to the period of Gupta dynasty in ancient India, the towns Ghantasala, Kadura and Chaula were well known as:

    (a) ports handling foreign trade

    (b) capitals of powerful kingdoms

    (c) places of exquisite stone art and architecture

    (d) important Buddhist pilgrimage centres

     

    [wpdiscuz-feedback id=”1ct5k7tlw1″ question=”Please leave a feedback on this” opened=”1″]Post your answers here.[/wpdiscuz-feedback]

    Who was Kumaragupta I?

    • Kumaragupta I was an emperor of the Gupta Empire of Ancient India.
    • A son of the Gupta emperor Chandragupta II and queen Dhruvadevi, he seems to have maintained control of his inherited territory, which extended from Gujarat in the west to Bengal region in the east.
    • In the 5th century, Kumaragupta I ruled for 40 years over north-central India.
    • Skandagupta, son and successor of Kumaragupta I is generally considered to be the last of the great Gupta rulers.
    • He assumed the titles of Vikramaditya and Kramaditya.

    What is the Shankhalipi script?

    • Shankhalipi or “shell-script” is a term used by scholars to describe ornate spiral characters assumed to be Brahmi derivatives that look like conch shells or shankhas.
    • They are found in inscriptions across north-central India and date to between the 4th and 8th centuries.
    • Both Shankhalipi and Brahmi are stylised scripts used primarily for names and signatures.
    • The inscriptions consist of a small number of characters, suggesting that the shell inscriptions are names or auspicious symbols or a combination of the two.

    Chronology and meaning

    • The script was discovered in 1836 on a brass trident in Uttarakhand’s Barahat by English scholar James Prinsep, who was the founding editor of the Journal of the Asiatic Society of Bengal.
    • A year later, he came across two more similar scripts at Nagarjuna group of caves in the Barabar Hills near Gaya.
    • Prominent sites with shell inscriptions include the Mundeshwari Temple in Bihar, the Udayagiri Caves in Madhya Pradesh, Mansar in Maharashtra and some of the cave sites of Gujarat and Maharashtra.
    • In fact, shell inscriptions are also reported in Indonesia’s Java and Borneo.
    • Scholars have tried to decipher shell script but have not been successful.

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    Back2Basics: Gupta Empire

    • The Gupta Empire was an ancient Indian empire which existed from the early 4th century CE to late 6th century CE.
    • This period is considered as the Golden Age of India by historians.
    • The ruling dynasty of the empire was founded by the king Sri Gupta; the most notable rulers of the dynasty were Chandragupta I, Samudragupta, and Chandragupta II alias Vikramaditya.
    • The 5th-century CE Sanskrit poet Kalidasa credits the Guptas with having conquered about twenty-one kingdoms, both in and outside India, including the kingdoms of Parasikas, the Hunas, the Kambojas, tribes located in the west and east Oxus valleys, the Kinnaras, Kiratas, and others.
    • Many of the literary sources, such as Mahabharata and Ramayana, were canonized during this period.
    • The Gupta period produced scholars such as Kalidasa, Aryabhata, Varahamihira, and Vatsyayana who made great advancements in many academic fields.