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Wednesday, February 23, 2022

Daily Current Affairs, 23rd Febuary 2022

18:42

 


1)  PM Modi inaugurated ‘Kisan Drone Yatra’ and flagged off 100 ‘Kisan Drones’

•Prime Minister Narendra Modi has inaugurated the ‘Kisan Drone Yatra’, an initiative by Garuda Aerospace Pvt Ltd and flagged off 100 ‘Kisan Drones’ in various cities and towns across India to spray pesticides in farms across the states of India. The 100 Kisan Drones were set off in 100 villages in 16 states across India which includes Uttar Pradesh, Punjab and Goa.


2)  GoI organise week-long ‘Vigyan Sarvatra Pujyate’ Science exhibition

•The Government of India has organised a week-long science exhibition titled ‘Vigyan Sarvatra Pujyate’ from February 22 to 28, 2022, as part of the Azadi Ka Amrit Mahotsav commemoration. It will be conducted simultaneously at 75 locations across the country through a hybrid model. The inaugural programme was held at Vigyan Bhavan, New Delhi on the 22nd of February.


•The exhibition will celebrate science and technology (S&T) and display the country’s scientific legacy and technology prowess. The exhibition will culminate on February 28, 2022, which coincide with the National Science Day, commemorated in remembrance of Nobel Laureate Sir C.V. Raman’s path-breaking discovery of the Raman Effect in 1930.


3)  Centre nominates Sanjay Malhotra as a Director of Central Board of RBI

•The Centre government has nominated Sanjay Malhotra, Secretary, Department of Financial Services (DFS), Ministry of Finance, as a Director on the Central Board of Reserve Bank of India (RBI). The nomination of Malhotra, a 1990 batch IAS officer of Rajasthan cadre, is effective from February 16, 2022, and until further orders.


•Prior to his appointment as DFS Secretary, Malhotra was the Chairman and Managing Director of REC Ltd. He succeeded Debashish Panda, who completed his term on January 31, 2022.


4)  India and France sign Roadmap on Blue Economy

•India and France have inked a roadmap to enhance their bilateral exchanges on the blue economy and ocean governance. Dr S Jaishankar is on a three-day visit to France, from February 20 to 22, 2022, to attend EU Ministerial Forum for Cooperation in the Indo-Pacific scheduled for February 22. The agreement on ‘Roadmap on Blue Economy and Ocean Governance’ was signed between India’s External Affairs Minister Dr. S Jaishankar’s and his French counterpart Jean-Yves Le Drian.


5)  Israel successfully tests fire ‘C-Dome’ new naval air defence system

•Israel successfully tested a new naval air defence system “C-Dome,” to be used on the Israeli Navy’s Sa’ar 6-class corvettes. C-Dome is the naval version of the Iron Dome, an all-weather air defence system of Israel to intercept and destroy short-range rockets and missiles, from the Gaza Strip. The successful test further strengthens the missile defence systems of the Israeli Navy to safeguard the maritime assets of the State of Israel.


6)  Russian President Putin divided Ukraine into 3 countries

•Russian President, Vladimir Putin has recognised the independence of separatist regions in eastern Ukraine – Donetsk and Luhansk. Putin’s announcement paved the way for Russia to openly send troops and weapons to the long-running conflict pitting Ukrainian forces against Moscow-backed rebels. Russian-backed rebels have been fighting Ukrainian troops in Donetsk and Luhansk since 2014, with regular violence despite a ceasefire agreement.


•Putin signed decrees recognizing the Donetsk and Luhansk regions’ independence, eight years after fighting erupted between Russia-backed separatists and Ukrainian forces, and called on lawmakers to approve measures paving the way for military support.


7)  Gurugram sisters chosen as ‘Beti Bachao Beti Padhao’ brand ambassadors

•International Chess Player woman FIDE Masters, Tanishka Kotia and her sister Riddhika Kotia are appointed as Brand Ambassadors of ‘Beti Bachao Beti Padhao’ scheme for the Gurugram District of Haryana. Tanishka Kotia won the Limca Book of Records for being the youngest chess player in 2008. They belong to the Haryana state.


•Tanishka Kotia ranks 2nd in the country in the under-16 category, World Chess Federation rankings released in 2019. She won a gold medal at the ASEAN Chess Championship in 2013 and silver at the Commonwealth Chess Championship In 2014 in Scotland. Riddhika Kotia represented India at several prestigious international events, including the World Junior Chess Championship 2020.


8)  Assam Govt Launches India’s First Night Navigation Mobile App In Rivers

•Chief Minister of Assam, Himanta Biswa Sarma has launched India’s first Night Navigation mobile application for ferry services on the Brahmaputra River in Guwahati, Assam. It was developed by the State Transport Department in association with K Raju, the principal scientist of IIT Madras. The first night journey of the IWT (Inland Water Transport) ferry between Guwahati and North Guwahati was started on 19 February 2022.


•The Chief Minister also launched ten Aadhar-based contactless services of the State Transport Department to make public service delivery time-efficient and budget-friendly. The CM also launched an e-ticketing system for Dhubri and Silchar ferry services. An MoU was also signed between the Common Service Centres (CSCs) under the Ministry of Electronics and Information Technology (MeitY) and the State Transport Department to provide online services at the panchayat level.


9)  Lavender designated as brand product of J&K’s Doda district

•The Union Minister of Science & Technology, Dr Jitendra Singh, chaired the District Development Coordination & Monitoring Committee (DISHA) meetings of several districts in Jammu & Kashmir recently. A key decision taken during the meeting was to designate Lavender as a Doda brand product, to promote lavender under the ‘One District, One Product’ initiative of the Modi Government.


•Doda district in J&K is the birthplace of India’s Purple Revolution or the cultivation of Lavender. Though, Lavender cultivation is practised in almost all the 20 districts of Jammu & Kashmir.


10)  India’s R Praggnanandhaa becomes youngest player to beat World No 1 Magnus Carlsen

•India’s teen chess Grandmaster, Rameshbabu Praggnanandhaa has created history as he defeated world number one chess champion, Magnus Carlsen, of Norway in an online chess tournament. The Airthings Masters is the first of the nine events of the 2022 Meltwater Champions Chess Tour, being held from February to November 2022.


•The 16-year-old Pragg achieved the feat in the eighth round of the Airthings Masters, an online rapid chess tournament, in 39 moves with black pieces. Pragg is also only the third Indian grandmaster to win against Magnus Carlsen apart from Viswanathan Anand and Pentala Harikrishna.


11)  Spain’s Carlos Alcaraz creates history, becomes youngest ATP 500 winner

•The 18-year-old Spaniard Carlos Alcaraz has clinched the Rio Open tennis title after defeating Diego Schwartzman in Rio de Janeiro, Brazil. The seventh-seeded Alcaraz defeated third-seeded Schwartzman 6-4, 6-2 to become the youngest ATP 500 champion since the category was created in 2009. It is the second tour-level title of the teen’s career following his breakthrough in Umag last year.


•Alcaraz converted five of his six break points in the match. Overall, he won 55 per cent of his return points to put constant pressure on his veteran opponent.

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The HINDU Notes – 23rd Febuary 2022

18:29

 


📰 Researchers discover new frog species from western coastal plains

‘Euphlyctis Jaladhara’ termed as link between vertebrate life in water and land

•Researchers have discovered yet another new frog species from the freshwater bodies of the western coastal plains of India.  The discovery has been made in a collaborative effort by scientists of the Zoological Survey of India (ZSI), Mount Carmel College (MCC), Bengaluru, and the National Institute of Science Education and Research (NISER), Bhubaneswar. ZSI scientist K. P. Dinesh said the frog had been scientifically named Euphlyctis Jaladhara with a common name “Jaladhara skittering frog”, suggestive of the frog’s habitat - a small body of water or reservoir.  Initially, it was first spotted in fresh water bodies around the Thattekad Bird Sanctuary in Ernakulam, and then multiple populations were identified all along the western coastal plains from Kerala to Gujarat.  He said that the amphibians were the “living link between the vertebrate life in water and land” and the new species was predominantly a freshwater frog. They were the first vertebrate organisms to get affected due to water pollution due to their primitive body plan.  Although most of the amphibians discovered in the country were reported from forested areas, they were well protected in terms of species conservation. “But for the new species like ‘Jaladhara skittering frog’ special conservation plans need to be focused as their distribution is flanked between the salt waters of Arabian Sea and the foothills of the Western Ghats,” he said.  Incidentally, this is the second new species of skittering frog detected from the locality. The earlier species, the Kerala pond frog (Phrynoderma Kerala), was also discovered in the same region by the same group of researchers in 2021. In the recent past, this is the first time that a wide range of new species of frog species has been discovered with its confirmed range in at least five States. The new species looks similar to the common skittering frog (Euphlyctis cyanophlyctis), which is predominantly distributed in the eastern coastal plains, Deccan Plateau and Western Ghats. This species was discovered 220 years ago. Members of the aquatic frog genus ‘Euphlyctis’ are important bioindicators for freshwater systems, and thus, this discovery strengthens the need to protect freshwater habitats around the country.  The research finding has been published in the international journal Zootaxa, published from New Zealand. The discovery was part of the Zoological Survey of India’s (WGRC, Kozhikode) faunal exploratory and documentation programme in the Thattekad Bird Sanctuary.

📰 A new measure of inflation is brewing on the horizon

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INSIGHTS IAS MONTHLY EDITORIAL COMPILATION JANUARY 2022 PDF

09:47

INSIGHTS IAS MONTHLY EDITORIAL COMPILATION JANUARY 2022 PDF

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GS SCORE Prelims 2022 Fact File Geography : Sea & Straits PDF

09:40

GS SCORE Prelims 2022 Fact File Geography : Sea & Straits PDF

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THE HINDU NEWSPAPER IMPORTANT ARTICLES 23.02.2022

09:29
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Tuesday, February 22, 2022

Daily Current Affairs, 22nd Febuary 2022

19:17

 


1)  World Thinking Day observed on 22nd February

•World Thinking Day, originally known as Thinking Day, is celebrated annually on 22 February by all Girl Scouts, Girl Guides and other girl groups worldwide. The day is observed to think about fellow brothers and sisters around the world, address their concerns and understand the true meaning of guiding. The theme for World Thinking Day 2022 is Our World, Our Equal Future.


2)  Government approved continuation of RUSA scheme till 2026

•The Ministry of Education has approved the continuation of the Rashtriya Uchchatar Shiksha Abhiyan (RUSA) scheme till 31st March 2026 with an expenditure of 12,929.16 crores. The new phase of the scheme would support around 1,600 projects. Out of Rs 12,929.16 crores of expenditure, the centre will share Rs 8,120.97 crores, and the state will share Rs 4,808.19 crores.


•The new phase of the scheme has been designed to implement some of the recommendations of the New Education Policy (NEP). Under the new phase of the scheme, State Governments will support Gender inclusion, Equity Initiatives, Enhance employability through vocationalisation and skill upgradation.


3)  Bharti Airtel joins SEA-ME-WE-6 undersea cable consortium

•Telecom operator, Bharti Airtel Ltd has announced that it has joined South East Asia–Middle East–Western Europe 6 (SEA-ME-WE-6) undersea cable consortium, in a bid to scale up its high-speed global network capacity and serve India’s fast-growing digital economy. It shall be anchoring 20 per cent of the overall investment in the cable system. Through SEA-ME-WE-6, Airtel will be able to add 100 TBps capacity to its global network. The telco will land the SEA-ME-WE-6 cable system in India at new landing stations in Mumbai and Chennai. Apart from Airtel, there are 12 other global members in the consortium.


4)  India’s first Biosafety Level-3 mobile laboratory inaugurated in Maharashtra

•Union Minister of State for Health and Family Welfare, Bharati Pravin Pawar has inaugurated India’s first Biosafety level-3 containment mobile laboratory in Nashik, Maharashtra. The mobile laboratory will help to investigate newly emerging and re-emerging viral infections, by specially trained scientists from ICMR. The newly launched lab will be able to access remote and forested areas of the country, to investigate outbreaks using samples from humans and animal sources.


•Union Minister of State for Health and Family Welfare Bharati Pravin Pawar inaugurated the laboratory and said that the Biosafety Level-3 mobile laboratory is a significant value addition to the government’s efforts to strengthen healthcare infrastructure through the Pradhan Mantri Ayushman Bharat Health Infrastructure Mission.


5)  India and Oman begins Eastern Bridge-VI Air Exercise

•The Indian Air Force (IAF) and Royal Air Force of Oman (RAFO) have organised a bilateral air exercise named Eastern Bridge-VI from February 21 to 25, 2022 at Air Force Station Jodhpur in Rajasthan. Eastern Bridge-VI is the sixth edition of the exercise. The exercise will provide an opportunity to enhance operational capability and interoperability between the two Air Forces.


•Participation of IAF and RAFO in this exercise will promote professional interaction, exchange of experiences and enhancement of operational knowledge, besides strengthening bilateral relations between the two countries. Various senior dignitaries are planning to visit Air Force Station Jodhpur during this exercise.


6)  Tata Power collaborated with RWE to develop offshore wind projects

•Tata Power has collaborated with Germany-based RWE Renewable GmbH to explore the potential for joint development of offshore wind projects in India. A Memorandum of Understanding (MoU) in this regard was signed between Tata Power Renewable Energy Limited, a wholly-owned subsidiary of Tata Power, and RWE, one of the world’s leaders in offshore wind. This is in line with Government of India’s announcement of achieving 30 gigawatts (GW) of offshore wind installations by 2030.


•India is an unexplored and highly attractive market to develop opportunities for offshore wind as it has a large coastline of about 7,600 kilometres. RWE and Tata Power Renewable Energy possess complementary strengths and will enable the establishment of a competitive offshore wind market in India.


7)  Madhya Pradesh: 48th Khajuraho Dance Festival begins

•Madhya Pradesh Governor, Mangu Bhai Patel has inaugurated the 48th ‘Khajuraho Dance Festival-2022’ at world-famous tourist destination Khajuraho on the occasion of ‘Azadi Ka Amrit Mahotsav’. The event will be organized till 26 February. This year a 5-km ‘Dil Khel Ke Ghoomo’ marathon was also organized under the banner of ‘Safe Tourism Project for Women’ at the event. It aims to create a sense of security among women in tourist destinations with the slogan ‘Hindustan Ke Dil Mein Aap Safe Hain’.


8)  Himachal Pradesh gets 1st Biodiversity Park at Mandi

•Himachal Pradesh gets the first biodiversity park to make its contribution towards the conservation of endangered Himalayan herbs. This park is set to come up at Mandi’s Bhulah valley. With the cost of Rs 1 crore, the biodiversity park is set up under the National Mission on Himalayan Studies (NMHS) by HP’s forest department. The aim of the park is to link tourism activities along with extending new opportunities for researchers to conduct in-depth exploration of various medicinal herbs found in the Himalayas that are on the verge of extinction.


9)  Indian Railways Gives Glimpse Of India’s 1st Cable Stayed Rail Bridge In J&K

•The Indian Railways has shared new images of the country’s first cable-stayed bridge on the Anji river in Jammu and Kashmir’s Reasi district. The under-construction Anji Khad bridge, part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project, will connect Katra and Reasi areas through rail links. The bridge will stand at a height of 331 metres above the river bed – higher than the Eiffel Tower in Paris. The total length of the bridge is 473.25 metres and it is supported by 96 cables.


10)  Corbevax gets emergency approval for 12-18 age group by DGCI

•The Drugs Controller General of India (DCGI) has approved the Corona Vaccine Biologicals E Ltd’s Corbevax for children in the age group of 12 to 18 years. Hyderabad-based pharmaceutical company Biological E Ltd said its coronavirus vaccine Corbevax, is also India’s third homegrown vaccine. Bharat Biotech’s Covaxin is being given to children aged 15 to 18 years from January 3.


11)  IOC Athletes’ Commission re-elected Emma Terho as Chair

•International Olympic Committee (IOC) Athletes’ Commission re-elected ice hockey player Emma Terho of Finland as its Chair and table tennis player Seung Min Ryu of the Republic of Korea as its First Vice-Chair. The commission also elected cyclist Sarah Walker of New Zealand as the second VC of the Commission.


•Emma Terho is a five-time Olympian and former captain of the Finland women’s ice hockey team. She will be the head of the Commission until the Olympic Games Paris 2024.


12)  Winter Olympics Games 2022 in Beijing concludes

•The closing ceremony of the 2022 Beijing Winter Olympic Games was held on February 20, 2022, at National Stadium (known as the Bird’s Nest) in Beijing. The 2022 Winter Olympics in Beijing, China, was held from 4 to 20 February 2022. The Games featured a record 109 events across 15 disciplines in 7 sports. The venues of the Games were distributed across three zones- Beijing, Yanqing and Zhangjiakou. The Presidency of the Games was formally handed over to Milan and Cortina d’Ampezzo, in Italy, to host the 2026 Winter Olympics.

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Insights IAS Current Affairs Monthly Magazine January 2022 in Hindi

14:24

Insights IAS Current Affairs Monthly Magazine January 2022 in Hindi

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Anthropology Interview Questions For UPSC CSE PDF

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 Anthropology Interview Questions For UPSC CSE PDF

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The HINDU Notes – 22nd Febuary 2022

14:13

 


📰 Laffaire NSE: is corporate governance an illusion?

Convulsions of outrage after episodes such as the NSE affair are pointless; significant institutional reform is a must

•Over the past 10 days, the revelations about the functioning of the National Stock Exchange (NSE) during the tenure of Chitra Ramkrishna as Managing Director and Chief Executive Officer (CEO) have had people shaking their heads in disbelief. The savvy head of the one of the world’s largest bourses taking guidance on organisational matters from a Himalayan yogi?

The damage is huge

•In his order, Securities and Exchange Board of India (SEBI) board member Ananta Barua makes short work of Ms. Ramkrishna’s contention that there was no danger of any damage being caused to NSE as the yogi in question is a ‘spiritual force’. He remarks with grim sarcasm, “I note that there is no exception in the Regulations or the SEBI Act or SCRA [Securities Contracts (Regulations) Act], that confidential information of the stock exchange may be shared with a spiritual force.” It may be that, in this instance, the NSE did not suffer any financial costs through the leakage of confidential information. But the reputational damage caused to the NSE and to India’s capital markets is huge.

•Sharing confidential information was one serious lapse on the part of Ms. Ramkrishna. Mr. Barua’s order highlights others. Ms. Ramkrishna appointed an individual, Anand Subramanian, first as chief strategic adviser and, next, as group operating officer without following due process.

•Mr. Subramanian lacked the credentials for the job, the position was not advertised and Mr. Subramanian was interviewed solely by Ms. Ramkrishna. He was recruited on a salary that was more than 10 times what he last drew and his salary was frequently revised without any evaluation being recorded.

•Mr. Subramanian was hired as a consultant and progressively given operational powers until he became virtual second-in-command in the NSE hierarchy. Ms. Ramkrishna ensured he was not designated as a key management person as that would have meant bringing Mr. Subramanian within the ambit of regulation.

Managerial wrongdoing

•Clearly, there was managerial misconduct at NSE. That is no surprise; managerial misconduct is a global phenomenon. That is why we need checks on management such as an effective board of directors. The bigger problem is that the board of NSE has been found wanting.

•Mr. Barua documents the board’s lapses. After the board was informed about the irregularities in Mr. Subramanian’s appointment, it discussed the matter but chose to keep the discussions out of the minutes on grounds of confidentiality and the sensitivity of the matter. Second, despite being aware of Ms. Ramkrishna’s transgressions, it allowed her to resign and on generous terms instead of taking action against her. Third, the Public Interest Directors (PIDs) failed to keep SEBI informed about the goings-on at the NSE.

•How did all this happen and how could it have gone on for so long? The answers lie in the culture of the corporate world and the board room.

•In the corporate world, much is forgiven on grounds of performance. When a performing CEO chooses to unduly favour a particular individual or individuals, boards see that as a forgivable infirmity. Considerations of equity or fairness do not trouble boards unduly — it is a mercy if breaches of regulation do.

The problem is structural

•The NSE ushered in a revolution at India’s stock exchanges. It rakes in enormous profits. In such a situation, boards would tend to think they can live with a degree of nepotism and other human failings in the CEO. ‘She’s doing a great job, she’s entitled to pick her team.’ Such an attitude may pass muster at your typical private sector company. Not so in a public institution which is a Market Infrastructure Institution (MII) because it amounts to a violation of regulations. The board of an MII must tell itself that there is little margin for error.

•As for dysfunctional or ineffective boards, these remain the norm despite numerous regulations, seminars and papers over the past four decades. The issue is not the credentials of board members or their domain expertise. Few boards can match the set of luminaries who sat on the board of the NSE. The SEBI order says that these very luminaries failed to measure up.

•The problem is structural. It has to do partly with the way board members are selected and partly with the absence of penalties where directors do not live up to their mandate. Board members are selected by top management (or, in India, by the promoter who is also top management). In leading companies and institutions, board memberships are lucrative, prestigious and carry attractive perks. Board members have every incentive to nod their heads to whatever the management wants done.

•To challenge management is to ensure that one’s term is not renewed. It also means antagonising one’s colleagues on the board, not just the top management. The dissenting board member becomes an outcaste on the board — he will find it difficult to make conversation over lunch. In the closed club from which board members are drawn, word spreads that the dissenter is a ‘trouble maker’. Other boards will be reluctant to touch him.

•As long as the top management selects all board members or can influence their selection, there is little hope of any active challenge to management. If we are to bring about meaningful change, we need to bring in diversity in the selection of board members.

•The top management must be allowed to choose not more than 50% of the independent directors. The rest must be chosen by various other stakeholders — financial institutions, banks, small shareholders, employees, etc. Then, we will have independent directors who are not beholden to the top management for their jobs. They will be accountable, not to the top management, but to stakeholders who have appointed them.

•Once that happens, the dynamics of the boardroom can be expected to change. Of course, we cannot be certain it will. At the NSE, there were five PIDs who were required to keep SEBI informed about any untoward happenings. They failed to do so. All we can say is that where independent directors are chosen by diverse stakeholders, there is at least the theoretical possibility of directors challenging the top management.

Issue of accountability

•A second thing that needs to happen is holding board members accountable for lapses. In the NSE case, SEBI has penalised Ravi Narain who happened to be vice chairman. Mr. Narain has made the point that there is no reason why he should be singled out as the board of NSE was collectively responsible.

•Regulators act against directors where there is financial malfeasance. They seldom act where there are breaches of regulation as in the present instance. This must change. Regulators must penalise errant directors through a whole range of instruments — strictures, financial penalties, removal from boards and a permanent ban from board membership.

•Lastly, regulators themselves must be held to account. In the NSE affair, questions have been asked of SEBI. For instance, why did SEBI not seek the help of the cyber police to ascertain the identity of the yogi? SEBI needs to explain itself.

•We need periodic independent audits of all regulators by a panel of eminent persons. The audits must evaluate the regulators’ performance in relation to their objectives. The internal processes and governance mechanisms of regulators must be subjected to the glare of public scrutiny. It is vital to guard the guardians.

•Convulsions of outrage after particular episodes will not take us very far. We need significant institutional reform if corporate governance is not to remain an illusion.

📰 Use international law, call out China’s violations

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