Daily Current Affairs UPSC 20 June 2024

MAVEN orbiter

• MAVEN, a NASA orbiter, observed purple lights on Mars.
• Launched in 2013, MAVEN is focused on studying the Martian upper atmosphere.
• The mission aims to understand how the sun may have caused Mars to lose its. atmosphere, transforming it from potentially habitable to barren.

National Monetisation Pipeline (NMP)

• NMP has successfully monetized assets worth Rs 3.85 lakh crore in just 3 years.
• NMP is an initiative by the Government of India for asset monetization.
• Asset monetization involves transferring revenue rights to private parties in exchange for upfront money and investment commitments.
• The initiative was announced in the Union budget 2021-22 with a goal of monetizing assets worth Rs 6 lakh crore.

Minimum Support Prices (MSP)

• Cabinet approval for MSP for Kharif Crops.
• Minimum Support Price (MSP) explained
  • Prevents distress selling by farmers.
  • Covers 22 crops: 14 Kharif, 6 Rabi, 2 Commercial.
  • Announced at sowing season start.
• Role of Commission for Agricultural Costs and Prices (CACP).
• Decision-making process by Cabinet Committee on Economic Affairs.
• Food Corporation of India as nodal agency for wheat and paddy procurement.

Superhydrophic catalyst

• Scientists created a water-repellent catalyst to lower biodiesel production costs.
• Biodiesel is a renewable fuel made from natural sources.
• Superhydrophobic catalysts are eco-friendly, affordable, and derived from biomass.
• They can resist water by-products in biodiesel production to prevent damage to active sites.
• These catalysts offer a sustainable way to dispose of biomass waste and can be used as an alternative to graphene and carbon nanotubes.

Purpurogallin

Evolution of Purpurogallin in Glacier Algae

• Study shows importance of Purpurogallin in glacier algae adaptations.
• Glacier Algae found on melting glacier and ice sheet surfaces.
• Examples include Ancylonema alaskanum and Ancylonema nordenskiöldii.

Purpurogallin 

• Phenolic pigments in glacier algae.
• Acts as sunscreen to protect cells from UV and visible light damage.
• Linked to tolerance of low temperatures and desiccation.
• Possesses antioxidant, anticancer, and anti-inflammatory effects.

AlphaFold-3

• AlphaFold-3 is a new AI model developed by Google's DeepMind and Isomorphic Labs
• It can predict the structure of proteins, DNA, RNA, ligands, and how they interact
• The model can computationally predict the structure and interactions of all life's molecules with high accuracy and speed
• When given an input list of molecules, AlphaFold-3 generates their joint 3D structure to show how they fit together
• It can also model chemical modifications to molecules that control healthy cell functioning, which when disrupted can lead to disease.

Capsaicin

• Denmark banned noodles with capsaicin due to its presence in chilli peppers
• Capsaicin is the main pungent ingredient in chilli peppers
• It is a secondary plant metabolite produced through cell and tissue cultures
• Capsaicin can dissolve in fat and has various biological effects at low doses
• These effects include antioxidant, anti-obesity, pain-alleviation, and anti-inflammatory properties
• High doses of capsaicin can lead to side effects such as gastrointestinal issues and heartburn.

Revenue Sharing Model (RSM)

Coal India awards 23 abandoned mines to private companies on revenue sharing basis

• Private companies must share a minimum of 4% of revenue with Coal India
• Contract period is up to 25 years.

Revenue Sharing Model (RSM) for Public Private Participation (PPP) projects

• Private entity shares revenue with government.
• Contrasts with Production Sharing Contracts (PSCs) where private entity shares profit with government.

Government of India introduced Hydrocarbon Exploration Licensing Policy (HELP) in 2016

• Replaced PSC with RSM for hydrocarbons like oil, gas, coal-bed methane, shale oil and gas, and gas hydrate.

National Forensic Infrastructure Enhancement Scheme

• Union Cabinet approves National Forensic Infrastructure Enhancement Scheme (NFIES).
• NFIES aims to support forensic laboratories in line with new criminal laws.
• New criminal laws require forensic investigation for offenses with 7 years or more punishment.
• NFIES provisioned under Union Ministry of Home Affairs from 2024-25 to 2028-29.
• Components of NFIES include establishing campuses of National Forensic Sciences University, Central Forensic Science Laboratories, and enhancing infrastructure of NFSU-Delhi.

Excessive-deficit Procedure

European Commission likely to place France in Excessive Deficit Procedure (EDP)

• EDP ensures member states take necessary actions to correct excessive deficits.
• EC can initiate EDP against countries not following Stability and Growth Pact (SGP).

Stability and Growth Pact (SGP) governs coordination of EU fiscal policies

• EDP can be launched if deficit threshold is breached or debt rule violated.

"RBI Revokes Licenses of Non-Compliant UCBs"

• RBI revoked the licenses of City Cooperative Bank in Maharashtra and Purvanchal Cooperative Banks in Uttar Pradesh.
• The banks did not have enough capital or earning potential and broke the Banking Regulation Act of 1949.
• Depositors of these banks will receive up to ₹5,00,000 in deposit insurance claims upon liquidation.

About UCBs

Definition of UCBs

• Refers to Primary Cooperative Banks in urban and semi-urban areas.
• Can be scheduled or non-scheduled.

Legal status

• Registered as cooperative societies under State Cooperative Societies Act or Multi-State Cooperative Societies Act.
• Banking activities regulated by RBI under BR Act, 1949.

Lending

• Mandated to achieve priority sector lending target of 75% by March 2026.
• Allowed to lend money for agricultural purposes.

Challenges of UCBs

• High gross non-performing assets (GNPA) at 10.9% till September 2023.
• Lack of professional management and competition with SFBs, FinTechs, etc.
• Concentrated in few states like Andhra Pradesh, Gujarat, Karnataka, Maharashtra, and Tamil Nadu.

Initiatives to Strengthen Urban Cooperative Banks

NUCFDC Support:

• NUCFDC is an umbrella organization of UCBs, providing support and resources to strengthen them.

Banking Regulation (Amendment) Act, 2020:

• This act gives RBI the power to supersede the boards of Cooperative banks, ensuring better regulation and oversight.

Ease of Expansion:

• Some UCBs are allowed to open new branches without prior approval from RBI, making it easier for them to expand and reach more customers.

"PM Launches Nalanda University in Bihar"

• The new Nalanda University is not only a center for inter-civilisational dialogue but also a 'Net Zero Green Campus'.
• Located near the ancient Nalanda ruins, it was established under the Nalanda University Act 2010 of Parliament.
• The decision to establish NU was made at the 2nd East Asia Summit (EAS) in the Philippines in 2007.

Ancient Nalanda University: A Hub of Learning

• Founded by Kumargupta I in the 5th century CE, Nalanda University remained a center of learning until the 12th century CE.
• It was a monastic University with residential and educational buildings, stupas, shrines, and important artworks in stucco, stone, and metal.

Educational Excellence at Nalanda University

• Nalanda University had students from various countries in Asia and offered disciplines like Veda, fine arts, medicine, mathematics, astronomy, politics, and the art of warfare.
• Admission was strictly based on merit and exams were conducted by trained gatekeepers.

Foreign Visitors and Recognition

• Chinese scholars I-Qing and Xuan Zang visited Nalanda in the 7th century CE.
• Xuan Zang studied yogashastra at Nalanda under Chancellor Shilabhadra.
• Nalanda University was declared a UNESCO World Heritage site in 2016.

Major Institutions of Learning in Ancient India

• Vikramshila in Bihar was founded by Dharmpala in the 8th century CE and promoted Vajrayana Buddhism.
• Nagarjunakonda in Andhra Pradesh was named after Nagarjuna, a proponent of Sunyavada in Mahayana Buddhism.
• Takshashila, now in northwestern Pakistan, was home to famous pupils like Panini, Jivaka, and Chanakya.
• Other notable ancient universities include Valabhi in Gujarat, Odantapuri in Bihar, and Jagaddala in present-day Bangladesh.

"Union Cabinet Approves Vadhavan Port Development"

• The port will be developed by a SPV formed by Jawaharlal Nehru Port Authority and Maharashtra Maritime Board.
• It will be an all-weather Greenfield deep draft major port.

About Vadhavan Port Project

• The project is aligned with the objectives of the PM Gati Shakti program.
• The port will be located in Palghar District and will be built on a landlord-model through PPP.
• In the landlord model, the port authority acts as a regulatory body and landlord while private companies handle port operations.
• The port will be constructed in 2 phases with a total capacity of 23.2 million TEUs of container holding capacity.
• It will have a draft of 20 meters to accommodate mega vessels.

Significance of the Project

• The port will facilitate Export Import (EXIM) trade flow through IMEC and INSTC.
• It will reduce turnaround time of goods with state-of-the-art infrastructure and modern technologies.

Ports in India

• Ports in India are categorized into Major Ports and Non-Major Ports.
• Major Ports are under the administrative control of the Union Ministry of Ports, Shipping, and Waterways, with 12 functional major ports.
• Non-Major Ports are under the jurisdiction of respective State Maritime Boards/ State Government, with 200 non-major ports currently in operation.

"WEF Report: Energy Transition 2024"

• The report evaluates 120 countries on their energy system performance and readiness for secure, sustainable, and inclusive energy systems.
• The Energy Transition Index (ETI) is used to assess countries' progress in transitioning from fossil fuels to renewable energy sources to reduce CO2 emissions.

Key Findings:

• Clean energy infrastructure investments reached $1.8 trillion in 2023, with most growth in advanced economies and China.
• Top performers include Sweden, Denmark, Finland, Switzerland, and France.
• Six G20 countries are among the top 20 performers.
• India is ranked 63rd on the Energy Transition Index.
• Eight countries reached net-zero emissions in 2022.
• Generative AI can help energy companies save over $500 billion annually.

Challenges in Energy Transition:

• Lack of incentives for private sector investment in clean electricity.
• Only 6% of G20 recovery funding is directed towards clean energy.
• Ongoing subsidies for fossil fuels.
• Some advanced economies and energy companies are rolling back energy transition commitments.

Initiatives in Energy Transition:

• Global Renewables and Energy Efficiency Pledge signed by 133 countries at CoP 28 of UNFCCC.
• G20 initiatives to address technology gaps in energy transitions.
• Just Energy Transition Partnerships launched by IEA & WEF to support developing countries.
• Carbon Border Adjustment Mechanism launched by the EU in 2023.

"AI Spreading Misinformation on WWII, Holocaust: UNESCO"

• A recent UNESCO report warned about the potential dangers of Generative AI.
• Generative AI can be used by malicious actors to spread disinformation and hate-filled narratives.
• It can also create false or misleading content about historical records.
• Generative AI is a technology that automatically generates content based on natural language prompts.

Concerns Highlighted in the Report

• AI-generated content may create false information: Generative AI has the potential to spread inaccurate or offensive information that can distort historical events.
• AI models can be used to spread hate speech: AI systems can perpetuate human biases and misrepresent information about certain events or groups, leading to the reinforcement of prejudices.
• Violation of privacy: AI technology can limit individuals' control over the information about their past that is accessed.
• Lack of transparency and algorithmic biases: The data used to train AI systems and the algorithms used to generate content may not be transparent, leading to potential biases in the information retrieved.

Key Recommendations

• Monitoring and evaluating AI systems: Implement standards to prevent the dissemination of harmful content that could damage individuals' rights and reputations.
• Integrating ethical values into AI design: Include ethical impact assessments in the design of AI systems to ensure fairness, non-discrimination, and diversity are prioritized.

"Global Air Quality Report 2024"

• A report released by the Health Effects Institute, a research organization in the US, in collaboration with UNICEF, provides details on the levels of exposure and health effects caused by common air pollutants such as fine particulate matter, ozone, and nitrogen dioxide from 1990 to 2021.

Key Highlights of the Report:

• Air pollution was the 2nd largest risk factor of death globally in 2021, with 8.1 million deaths attributed to it.
• 99% of the world's population lives in areas with unhealthy levels of PM2.5 pollution.
• Populations in low- and middle-income countries are exposed to 1.3-4 times higher levels of ambient PM2.5.
• Air pollution worsened COVID-19 outcomes by compromising immune systems and causing inflammation and oxidative stress in lungs.

Health Risks of Air Pollution in India:

• India and China accounted for 54% of the global disease burden linked to air pollution.
• Nearly 50% of all ozone-related Chronic Obstructive Pulmonary Disorder (COPD) deaths in 2021 were in India.

Initiatives to Combat Air Pollution in India:

• National Clean Air Programme aims to improve air quality in 131 cities in 24 states.
• India has leapfrogged from BS-IV to BS-VI fuel standards to reduce emissions.
• The National Air Quality Index provides information to the public about daily air quality levels.