Amazon fires
Mains-GS3-Environment, Mains-GS3-Disaster Management
Man-made fires in the Amazon have sent smoke to populated cities and the Atlantic coast.
Where is the Amazon rainforest located?
a) It is a moist broadleaf tropical rainforest in the Amazon biome that covers most of the Amazon basin of South America.
b) It is a vast region that spans across the following countries,
i) Brazil
ii) Bolivia
iii) Peru
iv) Ecuador
v) Colombia
vi) Venezuela
vii) Guyana
viii) Suriname
viii) French Guiana, an overseas territory of France.
x) Some parts of Argentina
What is the significance of the Amazon region?
a) Amazon contains nearly a third of all the tropical rainforests left on Earth.
b) Despite covering only around 1% of the planet’s surface, the Amazon is home to 10% of all known wildlife species, i.e. roughly three million species.
c) It is home to around one million members of indigenous communities.
d) People around the world, as well as locally, depend on the Amazon for food, water, wood, and medicine.
e) The region helps in stabilizing the climate by playing a critical role in global and regional carbon and water cycles.
Which are the major reasons for Amazon fires?
a) ‘Fire Day’ was organized by farmers to clear forest lands along the highway that runs through the heart of the Amazon rainforest.
b) The Brazilian government has announced opening up the Amazon region for business. The region has large reserves of gold and other minerals.
c) Government’s short-term economic interests led to mass deforestation. Fires are the direct result of this deforestation.
e) Dry seasons have created favorable conditions for the fires.
Why are the Amazon fires a cause for concern?
a) The Amazon rainforest is a repository of rich biodiversity and produces approximately 20% of oxygen in the Earth’s atmosphere.
b) The Amazon region is a vital carbon store that slows the pace of global warming.
c) A study by the University of Leeds (2017) states that the carbon intake of the region has already matched up to the carbon emissions released by the region.
d) On-going fires imply additional carbon emissions in the atmosphere.
e) These fires can affect the Global Water Cycle adversely.
f) Research states that more deforestation can lead to Amazon’s transformation from the World’s largest rainforest to Savanna.
g) Brazil’s National Institute for Space Research (INPE) has reported that forest fires in the region have doubled since 2013 and increased by 84% compared to 2018.
How is the world reacting?
a) Germany and Norway have suspended the funding for programs that aim to stop deforestation in the Amazon.
b) Many countries are putting pressure on Brazil, the main stakeholder, to control the fires.
c) Indigenous groups and environmental activists have led protests.
d) Mass social media campaigns, fund-mobilization campaigns have been launched
Mains-GS3-Environment, Mains-GS3-Disaster Management
Man-made fires in the Amazon have sent smoke to populated cities and the Atlantic coast.
Where is the Amazon rainforest located?
a) It is a moist broadleaf tropical rainforest in the Amazon biome that covers most of the Amazon basin of South America.
b) It is a vast region that spans across the following countries,
i) Brazil
ii) Bolivia
iii) Peru
iv) Ecuador
v) Colombia
vi) Venezuela
vii) Guyana
viii) Suriname
viii) French Guiana, an overseas territory of France.
x) Some parts of Argentina
What is the significance of the Amazon region?
a) Amazon contains nearly a third of all the tropical rainforests left on Earth.
b) Despite covering only around 1% of the planet’s surface, the Amazon is home to 10% of all known wildlife species, i.e. roughly three million species.
c) It is home to around one million members of indigenous communities.
d) People around the world, as well as locally, depend on the Amazon for food, water, wood, and medicine.
e) The region helps in stabilizing the climate by playing a critical role in global and regional carbon and water cycles.
Which are the major reasons for Amazon fires?
a) ‘Fire Day’ was organized by farmers to clear forest lands along the highway that runs through the heart of the Amazon rainforest.
b) The Brazilian government has announced opening up the Amazon region for business. The region has large reserves of gold and other minerals.
c) Government’s short-term economic interests led to mass deforestation. Fires are the direct result of this deforestation.
e) Dry seasons have created favorable conditions for the fires.
Why are the Amazon fires a cause for concern?
a) The Amazon rainforest is a repository of rich biodiversity and produces approximately 20% of oxygen in the Earth’s atmosphere.
b) The Amazon region is a vital carbon store that slows the pace of global warming.
c) A study by the University of Leeds (2017) states that the carbon intake of the region has already matched up to the carbon emissions released by the region.
d) On-going fires imply additional carbon emissions in the atmosphere.
e) These fires can affect the Global Water Cycle adversely.
f) Research states that more deforestation can lead to Amazon’s transformation from the World’s largest rainforest to Savanna.
g) Brazil’s National Institute for Space Research (INPE) has reported that forest fires in the region have doubled since 2013 and increased by 84% compared to 2018.
How is the world reacting?
a) Germany and Norway have suspended the funding for programs that aim to stop deforestation in the Amazon.
b) Many countries are putting pressure on Brazil, the main stakeholder, to control the fires.
c) Indigenous groups and environmental activists have led protests.
d) Mass social media campaigns, fund-mobilization campaigns have been launched
Project FEDOR
Prelims-Science and Technology
Recently Russia launched its first humanoid robot FEDOR into space.
About FEDOR
a) FEDOR stands for Final Experimental Demonstration Object Research.
b) It is the first robot ever sent up by Russia. It is also known as ‘Sky-bot F850’.
c) The robot will spend 10 days learning to assist astronauts on the International Space Station.
d) FEDOR copies human movements. It allows it to remotely help astronauts or even people on Earth to carry out tasks.
e) Such robots will eventually carry out dangerous operations such as spacewalk.
Similar projects
a) NASA sent up ROBONAUT 2. It was a humanoid robot developed that had a similar aim of working in high-risk environments.
b) Japan also sent up a small robot called KIROBO along with the ISS's first Japanese space commander.
Prelims-Science and Technology
Recently Russia launched its first humanoid robot FEDOR into space.
About FEDOR
a) FEDOR stands for Final Experimental Demonstration Object Research.
b) It is the first robot ever sent up by Russia. It is also known as ‘Sky-bot F850’.
c) The robot will spend 10 days learning to assist astronauts on the International Space Station.
d) FEDOR copies human movements. It allows it to remotely help astronauts or even people on Earth to carry out tasks.
e) Such robots will eventually carry out dangerous operations such as spacewalk.
Similar projects
a) NASA sent up ROBONAUT 2. It was a humanoid robot developed that had a similar aim of working in high-risk environments.
b) Japan also sent up a small robot called KIROBO along with the ISS's first Japanese space commander.
Climate Targets
Prelims – Environment, Mains -GS3- Environment
In the recent G7 summit, India and France issued a statement related to climate change, biodiversity, renewable energy, and ocean resources.
What does the statement talk about?
1. Commitment to enhanced climate actions, support for new low-carbon technologies, and ongoing efforts to accelerate the development and deployment of renewable energy.
2. Need for sustainable use of marine resources, acknowledgment of the link between environment and security, and ocean governance.
3. India and France also promised to develop, by next year, strategies for containing their greenhouse gases in the long-term period, possibly for the next 30 or 50 years.
4. From India’s point of view at least, a longer-term low-carbon pathway would be a new development.
When did Countries announce their climate targets?
1. Under the 2015 Paris Agreement on climate change, which will come into force next year, every signatory country is supposed to declare and implement a climate action plan, called Nationally Determined Commitments (NDCs).
2. Until now, countries have mostly announced their targets for 2025 or 2030. India has declared targets for 2030.
3. NDCs have to be updated every five years. The first set of NDC was declared in 2015 ahead of the climate change conference in Paris.
4. The Paris Agreement asks all signatories to ensure that successive NDCs represent a progression from their current targets.
5. Countries have also been asked to evolve a common timeframe for their action plans. Successive NDCs, therefore, would all be five-year or ten-year action plans.
Which are India’s targets?
1. To bring down its emission intensity, or emission per unit of GDP, by 33 to 35 per cent by 2030 compared to 2005 levels.
2. To ensure that at least 40 per cent of its electricity in 2030 would be generated from non-fossil sources.
3. To create an additional carbon sink of 2.5 to 3 billion tonnes through forests.
Why is Longer-term vision the need of the hour?
1. Countries are asked to finalize and commit to longer-term climate targets, over 30-year or 50-year time horizons.
2. This will help in bringing more predictability into climate actions and also make it easy to monitor whether the world was progressing adequately to avoid the catastrophic impacts of climate change.
3. Short-term targets are seen to lack the urgency of the task and delay ambitious actions making it more difficult or even impossible to act on climate change in the future .
4. There is growing pressure on the big emitters – China, the United States, European Union, India, Russia, Brazil, Australia – to come up with long-term action plans, in particular, to aim for net-zero emissions in the year 2050.
5. The public pressure is also a reason, which is growing stronger in Europe.
6. As climate-induced extreme weather events bring in more and more disasters across the world, the demand for longer-term commitments on climate action has been increasing.
7. Two recent reports by the Intergovernmental Panel on Climate Change (IPCC), have also stressed the need for more urgent and ambitious climate action in the longer term. The reports are -
a. The feasibility of containing the global rise in temperatures to within 1.5°C from pre-industrial times.
b. State of climate-induced land degradation.
How does the European Union respond to the pressure?
1. As part of its NDCs, the European Union of 27 countries has set a combined target of 40 per cent reduction in its greenhouse gas emissions by 2030 from the 1990 levels.
2. It also came up with a long-term vision to become climate-neutral or attain the goal of net-zero emissions, by 2050.
3. Recently, the United Kingdom became the first major economy to legislate a law to make itself climate-neutral by 2050.
4. The UK had been previously aiming to achieve an 80 percent reduction from the 1990 levels.
Where does India stand?
1. India, being a developing country, is treated differently from developed country parties in the Paris Agreement.
2. But India
Prelims – Environment, Mains -GS3- Environment
In the recent G7 summit, India and France issued a statement related to climate change, biodiversity, renewable energy, and ocean resources.
What does the statement talk about?
1. Commitment to enhanced climate actions, support for new low-carbon technologies, and ongoing efforts to accelerate the development and deployment of renewable energy.
2. Need for sustainable use of marine resources, acknowledgment of the link between environment and security, and ocean governance.
3. India and France also promised to develop, by next year, strategies for containing their greenhouse gases in the long-term period, possibly for the next 30 or 50 years.
4. From India’s point of view at least, a longer-term low-carbon pathway would be a new development.
When did Countries announce their climate targets?
1. Under the 2015 Paris Agreement on climate change, which will come into force next year, every signatory country is supposed to declare and implement a climate action plan, called Nationally Determined Commitments (NDCs).
2. Until now, countries have mostly announced their targets for 2025 or 2030. India has declared targets for 2030.
3. NDCs have to be updated every five years. The first set of NDC was declared in 2015 ahead of the climate change conference in Paris.
4. The Paris Agreement asks all signatories to ensure that successive NDCs represent a progression from their current targets.
5. Countries have also been asked to evolve a common timeframe for their action plans. Successive NDCs, therefore, would all be five-year or ten-year action plans.
Which are India’s targets?
1. To bring down its emission intensity, or emission per unit of GDP, by 33 to 35 per cent by 2030 compared to 2005 levels.
2. To ensure that at least 40 per cent of its electricity in 2030 would be generated from non-fossil sources.
3. To create an additional carbon sink of 2.5 to 3 billion tonnes through forests.
Why is Longer-term vision the need of the hour?
1. Countries are asked to finalize and commit to longer-term climate targets, over 30-year or 50-year time horizons.
2. This will help in bringing more predictability into climate actions and also make it easy to monitor whether the world was progressing adequately to avoid the catastrophic impacts of climate change.
3. Short-term targets are seen to lack the urgency of the task and delay ambitious actions making it more difficult or even impossible to act on climate change in the future .
4. There is growing pressure on the big emitters – China, the United States, European Union, India, Russia, Brazil, Australia – to come up with long-term action plans, in particular, to aim for net-zero emissions in the year 2050.
5. The public pressure is also a reason, which is growing stronger in Europe.
6. As climate-induced extreme weather events bring in more and more disasters across the world, the demand for longer-term commitments on climate action has been increasing.
7. Two recent reports by the Intergovernmental Panel on Climate Change (IPCC), have also stressed the need for more urgent and ambitious climate action in the longer term. The reports are -
a. The feasibility of containing the global rise in temperatures to within 1.5°C from pre-industrial times.
b. State of climate-induced land degradation.
How does the European Union respond to the pressure?
1. As part of its NDCs, the European Union of 27 countries has set a combined target of 40 per cent reduction in its greenhouse gas emissions by 2030 from the 1990 levels.
2. It also came up with a long-term vision to become climate-neutral or attain the goal of net-zero emissions, by 2050.
3. Recently, the United Kingdom became the first major economy to legislate a law to make itself climate-neutral by 2050.
4. The UK had been previously aiming to achieve an 80 percent reduction from the 1990 levels.
Where does India stand?
1. India, being a developing country, is treated differently from developed country parties in the Paris Agreement.
2. But India
is the third single largest emitter of greenhouse gases, after China and the United States.
3. There have also been demands from India, and other major developing economies such as Brazil and South Africa, to come up with longer-term commitments
5. India’s commitments based on its development imperatives.
6. In terms of NDC, India is on the course of achieving all its targets well in time and may even over-achieve them.
7. On the other hand, developed countries are far from delivering on their climate promises, especially on their obligation to provide money and technology to help developing and poor countries in fighting climate change.
3. There have also been demands from India, and other major developing economies such as Brazil and South Africa, to come up with longer-term commitments
5. India’s commitments based on its development imperatives.
6. In terms of NDC, India is on the course of achieving all its targets well in time and may even over-achieve them.
7. On the other hand, developed countries are far from delivering on their climate promises, especially on their obligation to provide money and technology to help developing and poor countries in fighting climate change.
RBI’s Money transfer to the Government
Prelims- Economy, Mains-GS3- Economic Development
The Reserve Bank of India has announced to transfer Rs. 1.76 lakh crores to the Government of India.
About the transfer
a) This amount includes the Reserve Bank of India’s 2018-19 surplus of ₹1.23 lakh crore and ₹52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF).
b) The transfer aims to address the precarious financial situation of the government to a great extent.
c) The revision of ECF was based on the recommendations of the Bimal Jalan Panel.
d) The transferred amount is over three times the five-year average of Rs 53,000 crore.
About the Jalan Panel
a) The RBI formed a committee chaired by former Governor Bimal Jalan to review its economic capital framework.
b) The committee was tasked to suggest ways to transfer the quantum of excess to the government.
c) The panel recommended a clear distinction between the two components of economic capital,
i) Realized equity- It can be used for meeting all risks/ losses as it is primarily built up from retained earnings.
ii) Revaluation balances- It can be reckoned only as risk buffers against market risks as it is unrealized valuation gains.
d) The committee recognized that RBI’s provisioning for monetary, financial and external stability risks is the country’s savings for a ‘Rainy day’- a monetary or financial stability crisis.
e) This risk provisioning made primarily from retained earnings is referred to as the Contingent Risk Buffer (CRB). CRB should be within a range of 6.5% - 5.5% of the RBI’s balance sheet
f) CRB comprises 5.5 to 4.5% for monetary and financial stability risks and 1.0% for credit and operational risks.
g) The committee recommended the ‘Surplus Distribution Policy’ which says only if realized equity is above its requirement, the entire net income will be transferable to the Government.
h) Currently, the available realized equity stood at 6.8% of the balance sheet.
Cautions
a) Transfer of excess reserves can hit the RBI’s ratings and increase its borrowing cost.
b) This move may have inflationary pressures on the economy.
c) This transfer does not give RBI very much space to maneuver.
Prelims- Economy, Mains-GS3- Economic Development
The Reserve Bank of India has announced to transfer Rs. 1.76 lakh crores to the Government of India.
About the transfer
a) This amount includes the Reserve Bank of India’s 2018-19 surplus of ₹1.23 lakh crore and ₹52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF).
b) The transfer aims to address the precarious financial situation of the government to a great extent.
c) The revision of ECF was based on the recommendations of the Bimal Jalan Panel.
d) The transferred amount is over three times the five-year average of Rs 53,000 crore.
About the Jalan Panel
a) The RBI formed a committee chaired by former Governor Bimal Jalan to review its economic capital framework.
b) The committee was tasked to suggest ways to transfer the quantum of excess to the government.
c) The panel recommended a clear distinction between the two components of economic capital,
i) Realized equity- It can be used for meeting all risks/ losses as it is primarily built up from retained earnings.
ii) Revaluation balances- It can be reckoned only as risk buffers against market risks as it is unrealized valuation gains.
d) The committee recognized that RBI’s provisioning for monetary, financial and external stability risks is the country’s savings for a ‘Rainy day’- a monetary or financial stability crisis.
e) This risk provisioning made primarily from retained earnings is referred to as the Contingent Risk Buffer (CRB). CRB should be within a range of 6.5% - 5.5% of the RBI’s balance sheet
f) CRB comprises 5.5 to 4.5% for monetary and financial stability risks and 1.0% for credit and operational risks.
g) The committee recommended the ‘Surplus Distribution Policy’ which says only if realized equity is above its requirement, the entire net income will be transferable to the Government.
h) Currently, the available realized equity stood at 6.8% of the balance sheet.
Cautions
a) Transfer of excess reserves can hit the RBI’s ratings and increase its borrowing cost.
b) This move may have inflationary pressures on the economy.
c) This transfer does not give RBI very much space to maneuver.
RBI transfer to Government
Prelims – Economy, Mains -GS3- Economic Development
1. Recently, the Reserve Bank of India’s (RBI) Central Board decided to transfer a record surplus of Rs 1.76 lakh crore to the government.
2. It includes the surplus or dividend of Rs 1,23,414 crore and a one-time transfer of excess provisions amounting to Rs 52,637 crore.
How does the RBI make profits?
1. The RBI is a “full service” central bank, it is mandated to following functions/operations –
a. Keep inflation or prices in check.
b. Manage the borrowings of the Government of India and state governments.
c. Supervise or regulate banks and non-banking finance companies.
d. Manage the currency and payment systems.
2. While carrying out these functions or operations, it makes profits such as -
a. Returns it earns on its foreign currency assets, which could be in the form of bonds and treasury bills of other central banks or top-rated securities, and deposits with other central banks.
b. Interest on its holdings of local rupee-denominated government bonds or securities, and while lending to banks for very short tenures, such as overnight.
c. Management commission on handling the borrowings of state governments and the central government.
3. Its expenditures mainly include –
a. Printing of currency notes and on staff.
b. Commission it gives to banks for undertaking transactions on behalf of the government across the country, and to primary dealers, including banks, for underwriting some of these borrowings.
c. RBI’s total costs, which includes expenditure on printing and commissions forms, is only about 1/7th of its total net interest income.
Why such a huge pay-out was approved?
1. The level of surplus or profits the RBI pays to the government has been an issue of conflict for long.
The Government’s Argument
1. Over the last decade, the government had sought higher pay-outs saying the RBI was maintaining reserves or capital buffers that were much higher than many other global central banks’ buffers.
2. The government has argued that such relatively lower transfers crimped public spending for infrastructure projects and social sector programmes, considering the pressure to meet deficit targets and to provide space for private firms to borrow.
RBI’s Stand
1. RBI on its part has traditionally preferred to be more cautious and build its reserves, keeping in mind potential threats from financial shocks, and the need to ensure financial stability and provide confidence to the markets.
2. From the central bank’s perspective, bigger reserves on its balance sheet are crucial to maintaining its autonomy.
3. After the global financial crisis when central banks had to resort to unconventional means to revive their economies, the approach has been to build adequate buffers in the form of higher capital, reserves and other funds as potential insurance against future risks or losses.
4. A higher buffer enhances the credibility of a central bank during a crisis and helps avoid approaching the government for fresh capital and thus maintain financial autonomy.
Bimal Jalan Committee
1. To sort out the issue, the government appointed the Jalan committee to review the capital structure, statutory provisions and other issues relating to the RBI balance sheet.
2. The committee after making a distinction on the RBI’s capital structure especially on unrealised gains (which are gains not booked) and considering the role of the central bank in ensuring financial stability, potential risks and global standards, the committee suggested a total transfer of Rs.1.76 lakh crore.
Which are the rules relating to the payment of dividends by central banks in other countries?
1. In many top central banks — US Federal Reserve, Bank of England, German Bundesbank, Bank of Japan— the laws make it clear that profits have to be transferred to the government or the treasury.
2. The quantum of profits or percentage to be distributed is also specified in the laws.
What is the difference in India now and compared to the past?
1. The quantum is discusse
Prelims – Economy, Mains -GS3- Economic Development
1. Recently, the Reserve Bank of India’s (RBI) Central Board decided to transfer a record surplus of Rs 1.76 lakh crore to the government.
2. It includes the surplus or dividend of Rs 1,23,414 crore and a one-time transfer of excess provisions amounting to Rs 52,637 crore.
How does the RBI make profits?
1. The RBI is a “full service” central bank, it is mandated to following functions/operations –
a. Keep inflation or prices in check.
b. Manage the borrowings of the Government of India and state governments.
c. Supervise or regulate banks and non-banking finance companies.
d. Manage the currency and payment systems.
2. While carrying out these functions or operations, it makes profits such as -
a. Returns it earns on its foreign currency assets, which could be in the form of bonds and treasury bills of other central banks or top-rated securities, and deposits with other central banks.
b. Interest on its holdings of local rupee-denominated government bonds or securities, and while lending to banks for very short tenures, such as overnight.
c. Management commission on handling the borrowings of state governments and the central government.
3. Its expenditures mainly include –
a. Printing of currency notes and on staff.
b. Commission it gives to banks for undertaking transactions on behalf of the government across the country, and to primary dealers, including banks, for underwriting some of these borrowings.
c. RBI’s total costs, which includes expenditure on printing and commissions forms, is only about 1/7th of its total net interest income.
Why such a huge pay-out was approved?
1. The level of surplus or profits the RBI pays to the government has been an issue of conflict for long.
The Government’s Argument
1. Over the last decade, the government had sought higher pay-outs saying the RBI was maintaining reserves or capital buffers that were much higher than many other global central banks’ buffers.
2. The government has argued that such relatively lower transfers crimped public spending for infrastructure projects and social sector programmes, considering the pressure to meet deficit targets and to provide space for private firms to borrow.
RBI’s Stand
1. RBI on its part has traditionally preferred to be more cautious and build its reserves, keeping in mind potential threats from financial shocks, and the need to ensure financial stability and provide confidence to the markets.
2. From the central bank’s perspective, bigger reserves on its balance sheet are crucial to maintaining its autonomy.
3. After the global financial crisis when central banks had to resort to unconventional means to revive their economies, the approach has been to build adequate buffers in the form of higher capital, reserves and other funds as potential insurance against future risks or losses.
4. A higher buffer enhances the credibility of a central bank during a crisis and helps avoid approaching the government for fresh capital and thus maintain financial autonomy.
Bimal Jalan Committee
1. To sort out the issue, the government appointed the Jalan committee to review the capital structure, statutory provisions and other issues relating to the RBI balance sheet.
2. The committee after making a distinction on the RBI’s capital structure especially on unrealised gains (which are gains not booked) and considering the role of the central bank in ensuring financial stability, potential risks and global standards, the committee suggested a total transfer of Rs.1.76 lakh crore.
Which are the rules relating to the payment of dividends by central banks in other countries?
1. In many top central banks — US Federal Reserve, Bank of England, German Bundesbank, Bank of Japan— the laws make it clear that profits have to be transferred to the government or the treasury.
2. The quantum of profits or percentage to be distributed is also specified in the laws.
What is the difference in India now and compared to the past?
1. The quantum is discusse
d and decided between the government and RBI.
2. Periodically, this has been guided by the policies set out internally by RBI. Last time, RBI appointed a committee headed by Y H Malegam, who recommended distributing 100% of the profits made to the government.
3. The difference now is that the Jalan committee’s recommendation on a profit distribution policy has been endorsed by the Central Board.
4. That will mean a more transparent and rule-based pay-out from next year, as in many other central banks, which could help narrow differences between the government and RBI.
Where lies the potential issues relating to a higher pay-out?
1. According to former RBI governor Raghuram Rajan, much of the surplus the RBI generates comes from the interest on government assets (securities or bonds) or from capital gains made off other market participants.
2. When this is paid to the government, the RBI is putting back into the system the money is made from it; there is no additional money-printing or reserve creation involved.
3. But when the RBI pays an additional dividend, it has to create additional permanent reserves or, print money.
4. To accommodate the special dividend, the RBI will have to withdraw an equivalent amount of money from the public by selling government bonds in its portfolio.
2. Periodically, this has been guided by the policies set out internally by RBI. Last time, RBI appointed a committee headed by Y H Malegam, who recommended distributing 100% of the profits made to the government.
3. The difference now is that the Jalan committee’s recommendation on a profit distribution policy has been endorsed by the Central Board.
4. That will mean a more transparent and rule-based pay-out from next year, as in many other central banks, which could help narrow differences between the government and RBI.
Where lies the potential issues relating to a higher pay-out?
1. According to former RBI governor Raghuram Rajan, much of the surplus the RBI generates comes from the interest on government assets (securities or bonds) or from capital gains made off other market participants.
2. When this is paid to the government, the RBI is putting back into the system the money is made from it; there is no additional money-printing or reserve creation involved.
3. But when the RBI pays an additional dividend, it has to create additional permanent reserves or, print money.
4. To accommodate the special dividend, the RBI will have to withdraw an equivalent amount of money from the public by selling government bonds in its portfolio.
A link to see the moon landing at 1.10 am tonight https://www.isro.gov.in/gslv-mk-iii-m1-chandrayaan-2-mission/watch-live-landing-of-vikram-lander-moon-sep-07-2019-0110-hrs
Forwarded from Dakshina Junior
Artemis Program by NASA
Prelims – Technology
1. The Artemis I Mission of NASA will land the first woman and next man on the Moon by 2024.
2. It is using innovative technologies to explore more of the lunar surface than ever before.
3. It will collaborate with its commercial and international partners and establish sustainable exploration by 2028.
4. The learning on and around the Moon will be used to take astronauts to Mars.
Source: scitechdaily.com and nasa.gov
Credit Rating lowered.
Prelims – Economy
1. Rating agency Moody’s has lowered India’s outlook from stable to negative.
2. It is due to risks to economic growth, prospects of a more entrenched slowdown, weak job creation, and a credit squeeze being faced by Non-Banking Finance Companies.
3. Credit rating agencies rate instruments such as bonds, debentures, commercial papers, deposits, and other debt offerings of companies or governments to help investors make informed decisions.
4. From a company’s or a government’s perspective, a better rating helps raise funds at a cheaper rate.
5. India has not issued a bond or raised money directly in the international market so far, so to a large extent, a downgrade has limited impact.
6. The impact is felt mostly by private firms or state-owned companies that raise foreign currency funds.
Source: The Indian Express
Chandrayaan-2 finds Argon-40 in Moon
Prelims – Technology
1. Chandrayaan-2 currently orbiting the Moon has detected Argon-40 in the lunar exosphere.
2. It has been able to do that with the help of its Chandra’s Atmospheric Composition Explorer-2 (CHACE-2) payload.
3. Argon-40 also known as 40Ar is an isotope of the noble gas Argon. It is the third most abundant gas in the Earth’s Atmosphere.
Source: The Indian Express
Anaemia Among Men
Prelims-Miscellaneous
1. A recent study found that 23.2 percent of men India in the age group 15-54 had some form of anaemia.
2. The prevalence was lowest in the age group 50-54, at 7.8%. It was higher for younger age groups.
3. Among the states, the highest prevalence of any anemia was in Bihar and lowest in Manipur.
4. The WHO defines anemia as a condition in which the number of red blood cells or their oxygen-carrying capacity is insufficient to meet physiological needs.
5. Anaemia in men can cause fatigue, lethargy, creates difficulty in concentrating, thereby reducing the quality of life and decreasing economic productivity.
6. Factors such as consuming smokeless tobacco, being underweight, level of urbanisation and household wealth are associated with a higher probability of developing the disease among men.
Source: The Indian Express
Reducing the Use of Pesticides
Prelims – Environment
1. Punjab is often blamed for excessive and indiscriminate use of pesticides and fertilisers in its agriculture.
2. In turn, this has led to such toxic residues leaching into the soil and underground water as well as the crops themselves.
3. In recent times Punjab has been able to cut down its pesticide use quite significantly.
4. Farmers were sensitised by the state government about the overuse of pesticides that it was polluting the environment and affecting the health of their children.
5. It was also a drain on their monetary resources. Besides, the soil and the underground water was also getting poisoned.
6. The government is now planning about resource conservation and changes in agronomic practices like conserving water.
Source: The Indian Express
Prelims – Technology
1. The Artemis I Mission of NASA will land the first woman and next man on the Moon by 2024.
2. It is using innovative technologies to explore more of the lunar surface than ever before.
3. It will collaborate with its commercial and international partners and establish sustainable exploration by 2028.
4. The learning on and around the Moon will be used to take astronauts to Mars.
Source: scitechdaily.com and nasa.gov
Credit Rating lowered.
Prelims – Economy
1. Rating agency Moody’s has lowered India’s outlook from stable to negative.
2. It is due to risks to economic growth, prospects of a more entrenched slowdown, weak job creation, and a credit squeeze being faced by Non-Banking Finance Companies.
3. Credit rating agencies rate instruments such as bonds, debentures, commercial papers, deposits, and other debt offerings of companies or governments to help investors make informed decisions.
4. From a company’s or a government’s perspective, a better rating helps raise funds at a cheaper rate.
5. India has not issued a bond or raised money directly in the international market so far, so to a large extent, a downgrade has limited impact.
6. The impact is felt mostly by private firms or state-owned companies that raise foreign currency funds.
Source: The Indian Express
Chandrayaan-2 finds Argon-40 in Moon
Prelims – Technology
1. Chandrayaan-2 currently orbiting the Moon has detected Argon-40 in the lunar exosphere.
2. It has been able to do that with the help of its Chandra’s Atmospheric Composition Explorer-2 (CHACE-2) payload.
3. Argon-40 also known as 40Ar is an isotope of the noble gas Argon. It is the third most abundant gas in the Earth’s Atmosphere.
Source: The Indian Express
Anaemia Among Men
Prelims-Miscellaneous
1. A recent study found that 23.2 percent of men India in the age group 15-54 had some form of anaemia.
2. The prevalence was lowest in the age group 50-54, at 7.8%. It was higher for younger age groups.
3. Among the states, the highest prevalence of any anemia was in Bihar and lowest in Manipur.
4. The WHO defines anemia as a condition in which the number of red blood cells or their oxygen-carrying capacity is insufficient to meet physiological needs.
5. Anaemia in men can cause fatigue, lethargy, creates difficulty in concentrating, thereby reducing the quality of life and decreasing economic productivity.
6. Factors such as consuming smokeless tobacco, being underweight, level of urbanisation and household wealth are associated with a higher probability of developing the disease among men.
Source: The Indian Express
Reducing the Use of Pesticides
Prelims – Environment
1. Punjab is often blamed for excessive and indiscriminate use of pesticides and fertilisers in its agriculture.
2. In turn, this has led to such toxic residues leaching into the soil and underground water as well as the crops themselves.
3. In recent times Punjab has been able to cut down its pesticide use quite significantly.
4. Farmers were sensitised by the state government about the overuse of pesticides that it was polluting the environment and affecting the health of their children.
5. It was also a drain on their monetary resources. Besides, the soil and the underground water was also getting poisoned.
6. The government is now planning about resource conservation and changes in agronomic practices like conserving water.
Source: The Indian Express
Forwarded from Dakshina Junior
National Strategy for Financial Inclusion
Mains-GS3-Economic Development, Prelims-Economy
1. Reserve Bank of India (RBI) has released the ‘National Strategy for Financial Inclusion for India 2019-2024’.
2. The financial inclusion is increasingly is a key driver of growth and poverty alleviation the world over.
Financial Inclusion
1. Financial inclusion has been defined as the process of ensuring access to financial services, timely and adequate credit for vulnerable groups such as weaker sections and low-income groups at an affordable cost.
2. Access to formal finance can boost job creation, reduce vulnerability to economic shocks and increase investments in human capital.
3. It is increasingly being recognized as a key driver of economic growth and poverty alleviation the world over.
4. Seven of the seventeen United Nations Sustainable Development Goals (SDG) of 2030 view financial inclusion as a key enabler for achieving sustainable development worldwide.
5. An inclusive financial system supports stability, integrity and equitable growth. Therefore, financial exclusion needs to be eliminated.
6. Causes of financial exclusion,
A.lack of surplus income
B.Not suitable to customer's requirements
C.lack of trust in the system
D.high transaction costs
7. Financial exclusion leaves the disadvantaged and low- income segments of society with no choice other than informal options. It makes them vulnerable to financial distress, debt, and poverty.
About the strategy
1. The strategy aims to provide access to formal financial services in an affordable manner, deepening financial inclusion and promoting financial literacy and consumer protection.
2. It sets forth the vision and key objectives of the financial inclusion policies in India to help expand and sustain the financial inclusion process at the national level.
3. The strategy seeks to address the inherent barriers of access to a gamut of financial products and services.
4. The strategy has been prepared by the Reserve Bank of India under the aegis of the Financial Inclusion Advisory Committee. It is based on the inputs from Government of India, other Financial Sector Regulators such as SEBI, IRDAI, and PFRDA.
5. Recommendations
a) Financial entities such as banks etc. should provide banking access to every village within a 5 km radius of 500 households in hilly areas by March 2020.
b) Public credit registry is a database of credit information of borrowers. It should be made operational by March 2022 so that authorized financial entities can leverage.
c) The digital infrastructure in the country needs to be expanded through better networking of bank branches, BC outlets, Micro ATM, PoS terminals
d) The banks should undertake periodic review of their existing products and adopt a customer-centric approach while designing and developing financial products.
e) There should be a convergence of objectives of the National Rural Livelihood and Urban Livelihood Missions to deepen Financial inclusion through an integrated approach.
f) A robust customer grievance redressal mechanism at different levels helps banks in timely redressal of grievances.
Mains-GS3-Economic Development, Prelims-Economy
1. Reserve Bank of India (RBI) has released the ‘National Strategy for Financial Inclusion for India 2019-2024’.
2. The financial inclusion is increasingly is a key driver of growth and poverty alleviation the world over.
Financial Inclusion
1. Financial inclusion has been defined as the process of ensuring access to financial services, timely and adequate credit for vulnerable groups such as weaker sections and low-income groups at an affordable cost.
2. Access to formal finance can boost job creation, reduce vulnerability to economic shocks and increase investments in human capital.
3. It is increasingly being recognized as a key driver of economic growth and poverty alleviation the world over.
4. Seven of the seventeen United Nations Sustainable Development Goals (SDG) of 2030 view financial inclusion as a key enabler for achieving sustainable development worldwide.
5. An inclusive financial system supports stability, integrity and equitable growth. Therefore, financial exclusion needs to be eliminated.
6. Causes of financial exclusion,
A.lack of surplus income
B.Not suitable to customer's requirements
C.lack of trust in the system
D.high transaction costs
7. Financial exclusion leaves the disadvantaged and low- income segments of society with no choice other than informal options. It makes them vulnerable to financial distress, debt, and poverty.
About the strategy
1. The strategy aims to provide access to formal financial services in an affordable manner, deepening financial inclusion and promoting financial literacy and consumer protection.
2. It sets forth the vision and key objectives of the financial inclusion policies in India to help expand and sustain the financial inclusion process at the national level.
3. The strategy seeks to address the inherent barriers of access to a gamut of financial products and services.
4. The strategy has been prepared by the Reserve Bank of India under the aegis of the Financial Inclusion Advisory Committee. It is based on the inputs from Government of India, other Financial Sector Regulators such as SEBI, IRDAI, and PFRDA.
5. Recommendations
a) Financial entities such as banks etc. should provide banking access to every village within a 5 km radius of 500 households in hilly areas by March 2020.
b) Public credit registry is a database of credit information of borrowers. It should be made operational by March 2022 so that authorized financial entities can leverage.
c) The digital infrastructure in the country needs to be expanded through better networking of bank branches, BC outlets, Micro ATM, PoS terminals
d) The banks should undertake periodic review of their existing products and adopt a customer-centric approach while designing and developing financial products.
e) There should be a convergence of objectives of the National Rural Livelihood and Urban Livelihood Missions to deepen Financial inclusion through an integrated approach.
f) A robust customer grievance redressal mechanism at different levels helps banks in timely redressal of grievances.
Channel name was changed to «Kerala State Civil Service Aspirants»
UPSC PRELIMS Countdown finished KEEP CALM AND STUDY
The Civil Services (Prel.) Examination-2020, scheduled to be held on 31/05/2020, stands deferred. Decision on the fresh date of the Examination will be made available on 20/05/2020 after assessing the situation.
CAPF (ACs) Exam-2020, scheduled to be notified on 22.04.2020, stands deferred till further notice.
https://upsc.gov.in
CAPF (ACs) Exam-2020, scheduled to be notified on 22.04.2020, stands deferred till further notice.
https://upsc.gov.in