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Type: Prelims Only

  • What are Interest Rate Derivatives (IRDs)?

    The RBI has proposed allowing foreign portfolio investors (FPIs) to undertake exchange-traded rupee interest rate derivatives transactions subject to an overall ceiling of ₹5,000 crores.

    Every year, there is a question on a capital market instruments. Make note of all such separately. Also, try this PYQ:

    Q. Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of the Indian stock market without registering themselves directly? (CSP 2019)

    (a) Certificate of Deposit

    (b) Commercial Paper

    (c) Promissory Note

    (d) Participatory Note

    Interest Rate Derivatives (IRDs)

    • An IDR is a financial instrument with a value that is linked to the movements of an interest rate or rates.
    • These may include futures, options, or swaps contracts.
    • They are often used by institutional investors, banks, companies, and individuals to protect themselves against changes in market interest rates.
    • The proposed directions by RBI are aimed at encouraging higher non-resident participation, enhance the role of domestic market makers in the offshore market, improve transparency, and achieve better regulatory oversight, according to the central bank.

    Back2Basics: Foreign portfolio investment (FPI)

    • FPI involves holding financial assets from a country outside of the investor’s own.
    • FPI holdings can include stocks, ADRs, GDRs, bonds, mutual funds, and exchange-traded funds.
    • Along with foreign direct investment (FDI), FPI is one of the common ways for investors to participate in an overseas economy, especially retail investors.
    • Unlike FDI, FPI consists of passive ownership; investors have no control over ventures or direct ownership of property or a stake in a company.

    FPI vs FDI

    • With FPI—as with portfolio investment in general—an investor does not actively manage the investments or the companies that issue the investments.
    • They do not have direct control over the assets or the businesses.
    • In contrast, foreign direct investment (FDI) lets an investor purchase a direct business interest in a foreign country.

  • Etosha Salt Pan, Namibia

    NASA has recently captured images depicting the wet and dry cycles of Etosha Pan in Africa’s Namibia through the year.

    Try this PYQ:

    Q.Which of the following has/have shrunk immensely/ dried up in the recent past due to human activities?

    1. Aral Sea
    2. Black Sea
    3. Lake Baikal

    Select the correct option using the code given below:

    (a) 1 only

    (b) 2 and 3 only

    (c) 2 only

    (d) 1 and 3 only

    Etosha Salt Pan

    • The Etosha pan is hollow in the ground, wherein water may collect or in which a deposit of salt remains after the water has evaporated.
    • The 120-kilometre-long dry lakebed and its surroundings are protected as Etosha National Park, Namibia’s second-largest wildlife park.
    • The pan is mostly dry, but after a heavy rain, it acquires a thin layer of water that is heavily salted by the mineral deposits on the surface.

  • Who was Subramania Bharatiyar?

    This newscard is an excerpt from an article originally published in TH.

    Try this question from CSP 2016:

    Q.A recent movie titled The Man Who Knew Infinity is based on the biography of-

    (a) S. Ramanujan
    (b) S. Chandrasekhar
    (c) S. N. Bose
    (d) C. V. Raman

    Subramania Bharati

    • Bharati was a Tamil writer, poet, journalist, Indian independence activist, social reformer and polyglot.
    • Popularly known as “Mahakavi Bharathi”, he was a pioneer of modern Tamil poetry and is considered one of the greatest Tamil literary figures of all time.
    • His numerous works included fiery songs kindling patriotism during the Indian Independence movement.

    Literary works

    • As a working journalist, Bharati necessarily employed prose to communicate, and his writings in Swadesamitran and India made an important contribution to Tamil political vocabulary.
    • He wrote stories, commentaries, and was also the pioneer of column writing in Tamil.
    • Active participation in the day-to-day politics of the nationalist movement notwithstanding, Bharati never lost sight of the future, the dream of how a free India should look like.
    • Aspects of this dream form part of his fantasy story, Gnanaratham (The Chariot of Wisdom), written when he was still in his late 20s.

  • Panama Disease

    The scientists of Indian Council of Agriculture Research or ICAR have found a cure for one of the most dreaded diseases on Banana.

    Try this PYQ:

    Q.Recently, our scientists have discovered a new and distinct species of banana plant which attains a height of about 11 metres and has orange-coloured fruit pulp. In which part of India has it been discovered?

    (a) Andaman Islands

    (b) Anamalai Forests

    (c) Maikala Hills

    (d) Tropical rain forests of northeast

    Panama Disease

    • The fungal disease, called Fusarium Wilt, is popularly known as the ‘Panama Disease’ and afflicts banana plants.
    • For the first time, Indian scientists have brought out a biopesticide that can control the disease. This biopesticide has been made using another fungus.
    • For a long time, banana cultivators have been struggling with the Panama Disease.
    • This disease affects the Cavendish variety or the G9 Banana cultivar, which is the most widely grown banana in the world.

    Spread in India

    • In India, more than 60 per cent of bananas are of the G9 variety.
    • They go by names like ‘Grand Naine’, ‘Robusta’, ‘Bhusaval’, ‘Basrai’ and ‘Shrimanth’.
    • Farmers in at least four Indian states — Bihar, Gujarat, Madhya Pradesh and Uttar Pradesh — have been badly affected by this disease.
    • All these are areas where the Cavendish variety is grown.

    Why is the disease so deadly?

    • Panama Disease is caused by a fungus with a long and complicated name called Fusarium oxysporum f. Sp cubense.
    • One of its strains which is called ‘Tropical Race 4’ or ‘TR4’ is creating the most havoc, threatening almost 80 per cent of the global banana production.
    • The disease is so deadly that it is sometimes referred to as ‘banana cancer’.
    • The fungus resides below ground and infects the plant through its roots. The infection then stops water and essential nutrients from being transported to the rest of the plant.
    • The leaves begin to wilt, and the stem of the plant starts turning dark brownish before the plant dies. If one plant gets it, then it is most likely that an entire plantation can be wiped out.

  • Turkish Coffee

    Turkish Coffee made it to the UNESCO’s list of Intangible Cultural Heritage of Humanity in 2013. It is celebrated in literature and songs and is an important part of ceremonies and festivals.

    Try this PYQ:

    Q.Consider the following pairs:

    Traditions Communities

    1. Chaliha Sahib Festival — Sindhis
    2. Nanda Raj Jaat Yatra — Gonds
    3. Wari-Warkari — Santhals

    Which of the pairs given above is/are correctly matched?

    (a) 1 only

    (b) 2 and 3

    (c) 1 and 3

    (d) None of the above

    Turkish Coffee

    • To make Turkish Coffee, Arabica beans are ground manually and boiled with water and sugar in a special pot called cezve in Turkey and ibrik elsewhere.
    • It is taken off the heat as soon as it begins to froth and before it boils over.
    • It is traditionally served in individual porcelain cups called kahvefinjan.
    • Sometimes the coffee may be flavoured with cardamom or other spices and served with a small piece of Turkish delight.

    Back2Basics: Intangible Heritages from India

    • Tradition of Vedic chanting
    • Ramlila, the traditional performance of the Ramayana
    • Kutiyattam, Sanskrit theatre
    • Ramman, religious festival and ritual theatre of the Garhwal Himalayas.
    • Mudiyettu, ritual theatre and dance drama of Kerala
    • Kalbelia folk songs and dances of Rajasthan
    • Chhau dance
    • Buddhist chanting of Ladakh: recitation of sacred Buddhist texts in the trans-Himalayan Ladakh region, Jammu and Kashmir.
    • Sankirtana, ritual singing, drumming and dancing of Manipur
    • Traditional brass and copper craft of utensil making among the Thatheras of Jandiala Guru, Punjab
    • Yoga
    • Nawrouz
    • Kumbh Mela

  • Dictionary of Martyrs of India’s Freedom Struggle (1857-1947)

    Four martyrs of Communist movement of Kerala will be added to the ‘Dictionary of Martyrs India’s Freedom Struggle (1857-1947)’, if an earlier review report to the Indian Council for Historical Research (ICHR) is accepted.

    Communist revolutionaries of Kerala

    • The four who may make it to the list include Aboobacker and Chirukandan of Kayyur, “who walked to the gallows shouting Inquilab Zindabad and Communist Party Zindabad” and “died as brave communists,” as mentioned in the fifth volume of the dictionary.
    • Abu of Mambram, a Communist and active partner in the nationalist and anti-imperialist movements, and Chattukutty, an active Communist cadre involved in the agitations for price control, wage hike, and relief to peasants, who were killed in the Tellichery police firing on September 15, 1940, would also qualify.
    • The report had suggested the deletion of the martyrs of Punnapra-Vayalar, Karivelloor, and Kavumbayi agitations as they were rioters against the interim government headed by Jawaharlal Nehru.

    Back2Basics: “Dictionary of Martyrs” Project

    • The project for the compilation of “Dictionary of Martyrs” of India’s Freedom Struggle was commissioned by the Ministry of Culture, to the Indian Council of Historical Research (ICHR) to commemorate the 150th anniversary of the uprising of 1857.
    • In this dictionary, a martyr has been defined as a person who died or who was killed in action or in detention, or was awarded capital punishment while participating in the national movement for the emancipation of India.
    • It includes ex-INA or ex-military personnel who died fighting the British.
    • Information of about 13,500 martyrs has been recorded in these volumes.

    Who are included?

    • It includes the martyrs of 1857 Uprising, Jallianwala Bagh Massacre (1919), Non-Cooperation Movement (1920-22), Civil Disobedience Movement (1930-34), Quit India Movement (1942-44), Revolutionary Movements (1915-34), Kissan Movements, Tribal Movements, Agitation for Responsible Government in the Princely States (Prajamandal), Indian National Army (INA, 1943-45), Royal Indian Navy Upsurge (RIN, 1946), etc.

    Five Volumes

    • Volume 1: In this volume, more than 4400 martyrs of Delhi, Haryana, Punjab and Himachal Pradesh have been listed.
    • Volume 2: In this volume, more than 3500 martyrs of Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Rajasthan and Jammu & Kashmir have been listed.
    • Volume 3: The number of martyrs covered in this volume is more than 1400. This volume covers the martyrs of Maharashtra, Gujarat and Sind.
    • Volume 4: The numbers of martyrs covered in this volume is more than 3300. This volume covers the martyrs of Bengal, Bihar, Jharkhand, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Nagaland and Tripura.
    • Volume 5: The number of martyrs covered in this volume is more than 1450. This volume covers the martyrs of Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Kerala.

  • ‘Streets for People’ Challenge

    The Union Housing and Urban Affairs has launched the initiative ‘Streets for People’ for making cities more pedestrian-friendly.

    Streets for People

    • The Challenge builds on the advisory issued by MoHUA for the holistic planning for pedestrian-friendly market spaces, earlier this year.
    • It will support cities across the country to develop a unified vision of streets for people in consultation with stakeholders and citizens.
    • Adopting a participatory approach, cities will be guided to launch their own design competitions to gather innovative ideas from professionals for quick, innovative, and low-cost tactical solutions.
    • ​It aims to inspire cities to create walking-friendly and vibrant streets through quick, innovative, and low-cost measures.
    • All cities participating in the challenge shall be encouraged to use the ‘test-learn-scale’ approach to initiate both, flagship and neighbourhood walking interventions.
    • The interventions can include inter alia creating pedestrian-friendly streets in high footfall areas, re-imagining under-flyover spaces, re-vitalizing dead neighbourhood spaces, and creating walking links through parks and institutional areas.

    Various stakeholders

    • Fit India Mission, under Ministry of Youth Affairs and Sports, along with the India program of the Institute for Transport Development and Policy (ITDP) has partnered with the Smart Cities Mission to support the challenge.

  • US Presidents who have won Nobel Peace Prize

    A Norwegian legislator has nominated US President Donald Trump for the 2021 Nobel Peace Prize for his efforts towards furthering peace in the Middle East.

    Take a look at the Presidents and Vice-Presidents who have won the Nobel Peace Prize:

    These trivial facts are too unlikely to be asked in the CS prelims, but may hold importance for CAPF and other exams.

     (1) Theodore Roosevelt (1906)

    • Roosevelt, the 26th occupant of the White House (1901-09), was not only the first American president but also the world’s first statesman to win the honour, five years after the Peace Prize was instituted in 1901.
    • He was given the prize for negotiating peace between imperial Russia and Japan after the Russo-Japanese War of 1904-05.
    • He was also praised for his efforts in resolving a dispute between the US and Mexico through arbitration, and for extending the use of arbitration as a means for settling international disputes.
    • At home, Roosevelt launched radical social and economic reform policies and earned a reputation as a “trust buster” for breaking up monopolies.

    (2) Woodrow Wilson (1919)

    • Wilson (1913-21) was given the award for his efforts in ending World War I, and for being the key architect of the League of Nations– born out of his famous ‘Fourteen Points’.
    • Although the League faltered in a few years, it served as a blueprint for the United Nations after World War II.
    • At home, Wilson saw the reduction of import duties, started America’s central bank and a national business oversight body, and strengthened anti-monopoly and labour laws.
    • In his second term, the US passed its 19th constitutional amendment giving women the right to vote.

    (3) Jimmy Carter (2002)

    • The 39th President was awarded the Peace Prize “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development”.
    • During his presidency (1977-81), Carter earned praise for his role in bringing about a peace agreement between Israel and Egypt.
    • His later years were more fraught, including foreign policy failures such as the conflict with Iran and the Soviet invasion of Afghanistan, culminating in him losing re-election to the conservative Ronald Reagan in 1980.
    • Post his presidency, Carter pursued peace and mediation efforts independently and co-founded the Carter Center, a non-profit that chiefly works to advance human rights.

    (4) Barack Obama (2009)

    • The country’s 44th President (2009-2017) was given the Nobel Peace Prize “for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples”.
    • Cited among Obama’s achievements were his promotion of nuclear non-proliferation, and bringing a “new climate” in international relations.
    • Obama donated the full prize money – 10 million Swedish kronor (around $1.4 million) – to charity.

    (5) Al Gore (1993-2001)

    • Apart from the four Presidents, one Vice President– Al Gore (1993-2001) – has been given the Nobel Peace Prize.
    • He shared the honour in 2007 with the Intergovernmental Panel on Climate Change (IPCC) for their joint efforts to build up and disseminate greater knowledge about man-made climate change.

  • Centenary of Aligarh Muslim University

    In its centenary year, Aligarh Muslim University is planning to bury a time capsule, containing its history and achievements for posterity.

    Try this PYQ:

    Q.Consider the following:

    1. Calcutta Unitarian Committee
    2. Tabernacle of New Dispensation
    3. Indian Reforms Association

    Keshab Chandra Sen is associated with the establishment of which of the above?

    (a) 1 and 3 only

    (b) 2 and 3 only

    (c) 3 only

    (d) 1, 2 and 3

    Aligarh Muslim University

    • AMU is a public central university in Aligarh, India, which was originally established by Sir Syed Ahmad Khan as the Muhammadan Anglo-Oriental College in 1875.
    • Muhammadan Anglo-Oriental College became Aligarh Muslim University in 1920, following the Aligarh Muslim University Act.
    • It has three off-campus centres in Malappuram (Kerala), AMU Murshidabad centre (West Bengal), and Kishanganj Centre (Bihar).

    Its establishment

    • The university was established as the Muhammadan Anglo-Oriental (MAO) College in 1875 by Sir Syed Ahmad Khan, starting functioning on 24 May 1875.
    • The movement associated with Syed Ahmad Khan and the college came to be known as the Aligarh Movement, which pushed to realize the need for establishing a modern education system for the Indian Muslim populace.
    • He considered competence in English and Western sciences necessary skills for maintaining Muslims’ political influence.
    • Khan’s vision for the college was based on his visit to Oxford University and Cambridge University, and he wanted to establish an education system similar to the British model.

    About Syed Ahmad Khan

    • He was an Islamic pragmatist, reformer, and philosopher of nineteenth-century British India.
    • Born into a family with strong debts to the Mughal court, Ahmed studied the Quran and Sciences within the court.
    • He was awarded an honorary LLD from the University of Edinburgh in 1889.
    • In 1838, Syed Ahmed entered the service of East India Company and went on to become a judge at a Small Causes Court in 1867, retiring from 1876.
    • During the Indian Rebellion of 1857, he remained loyal to the British Raj and was noted for his actions in saving European lives.
    • In 1878, he was nominated to the Viceroy’s Legislative Council.
    • He supported the efforts of Indian political leaders Surendranath Banerjee and Dadabhai Naoroji to obtain representation for Indians in the government and civil services.

  • Hypersonic Technology Demonstrator Vehicle (HSTDV)

    The DRDO has successfully demonstrated the hypersonic air-breathing scramjet technology with the flight test of the Hypersonic Technology Demonstration Vehicle (HSTDV).

    Take note of close dissimilarities between Ramjet and Scramjet engines.

    About HSTDV

    • HSTDV is an unmanned scramjet vehicle with a capability to travel at six times the speed of sound.
    • The scramjets are a variant of a category of jet engines called the air-breathing engines.
    • The ability of engines to handle airflows of speeds in multiples of the speed of sound gives it a capability of operating at those speeds.
    • Hypersonic speeds are those which are five times or more than the speed of sound.
    • The unit tested by the DRDO can achieve upto six times the speed of sound or Mach 6, which is well over 7000 km per hour or around two km per second.

    Its development

    • The DRDO started on the development of the engine in the early 2010s.
    • The ISRO has also worked on the development of the technology and has successfully tested a system in 2016. DRDO too has conducted a test of this system in June 2019.
    • The special project of the DRDO consisted of contributions from its multiple facilities including the Pune headquartered Armament and Combat Engineering Cluster.

    Back2Basics: Ramjet V. Scramjet

    • A ramjet is a form of air-breathing jet engine that uses the vehicle’s forward motion to compress incoming air for combustion without a rotating compressor.
    • Fuel is injected in the combustion chamber where it mixes with the hot compressed air and ignites.
    • A ramjet-powered vehicle requires an assisted take-off like a rocket assist to accelerate it to a speed where it begins to produce thrust.
    • Ramjets work most efficiently at supersonic speeds around Mach 3 (three times the speed of sound) and can operate up to speeds of Mach 6.
    • However, the ramjet efficiency starts to drop when the vehicle reaches hypersonic speeds.
    • A scramjet engine is an improvement over the ramjet engine as it efficiently operates at hypersonic speeds and allows supersonic combustion. Thus it is known as Supersonic Combustion Ramjet or Scramjet.