Daily CURRENT AFFAIRS

Daily Current Affair - UPSC/KAS Exams - 1st July 2021

What is in news : The Vrishabhavathi Valley has suffered permanent damage as the number of its contiguous lakes went down from 71 in the 1970s to 35 in 2017 while an indiscriminate dumping of sewage, solid waste and debris has altered the physical and chemical integrity of what was once a river, says a report by NEERI.

Details :

• The interim report, submitted by the National Environmental Engineering Research Institute (NEERI) to the High Court of Karnataka, estimates that sewage flow to the valley would go up from the present 576 MLD (million of litre per day) to 720 MLD by 2023. Currently, only 54% of the raw sewage is treated before it enters the river.
• A team of NEERI experts studied the drains between the KSR Bengaluru railway station and Sankety Tank as well as the networks in RR Nagar and Dasarahalli zones. While solid waste dumping is the most common feature in all the drains, industrial effluents are seen in drains in the Dasarahalli zone
• It was observed during the field survey that the entire river stretches, including various drains, were filled with all types of solid waste. It is like any waste that is too inconvenient to be thrown anywhere else finds its way into Vrishabhavati river banks
• The report suggests measures, from treating all the sewage that runs into the valley, carrying out a detailed survey of the valley, removing encroachments to regular removal of silt and raising public awareness regarding Vrishabhavathi.
• One of the key recommendations is demarcating a buffer zone of 30 metres for lakes and 15 metres for stormwater drains and erecting a six-foot-high fence at a distance of one metre from the river.
• The Urban Development Department has set a six-month deadline to assess the encroachments on the banks of Vrishabhavathi Valley, and directed the Karnataka State Pollution Control Board to regularly monitor the wastewater and lake water for the next three months.
• The long-term measure includes surveying the whole 54–km stretch of the valley, fencing the periphery, stopping the flow of all wastewater and desilting within the next one and a half years.

About the river

• The Vrishabhavati River is an urban industrial river that flows through the south of the Indian city of Bangalore.The river was once so pristine that the water from it was used for drinking and used by the famous Gali Anjaneya temple.
• An inscription on the 17th century Nandi in Basavangudi,Bangalore mentions the place as the source of a river. Vrishabhavathi, (Vrishaba, Bull) , it is claimed, flows underground for a while before emerging as a proper rivulet. That flow now, hardly resembles living waters.
• Another source also say kadu malleshwara temple in Malleshwaram Bangalore is also source of this temple
• It empties to River Arkavathi (which is tributary of Cauvery) at dodamudavadi in Ramnagar.

What is in news : Odia poet Rajendra Kishore Panda has been selected for the Kuvempu Rashtriya Puraskar, the national award instituted in memory of the late poet laureate, for 2020.

Details :

• The award carries a cash award of ₹5 lakh, a silver medal, and a citation. The name of Dr. Panda was finalised by a three-member committee comprising Kannada poet H.S. Shivaprakash; Agrahara Krishnamurthy, former secretary of Central Sahitya Academy; and Bengali author Shyamal Bhattacharya. The committee met under the chairmanship of Hampa Nagarajaiah.
• The award is instituted by Rashtrakavi Kuvempu Pratishthana, Kuppalli, the trust formed to popularise the writings of poet laureate Kuvempu and to propagate the principles advocated by him.
• While the award is presented at Kuppalli, the birthplace of Kuvempu in Shivamogga district, on December 29 to mark his birth anniversary, the announcement for 2020 was delayed owing to the pandemic.

What is in news : The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for extending the terminal date for registration of beneficiaries for availing the benefit under Aatmanirbhar Bharat Rojgar Yojana (ABRY) for another nine months

About

• Under this, Government of India will provide subsidy for two years in respect of new employees engaged on or after 1st October, 2020 and up to 30th June, 2021.
• Government will pay both 12% employees’ contribution and 12% employers’ contribution i.e. 24% of wages towards EPF in respect of new employees in establishments employing upto 1000 employees for two years.
• Government will pay only employees’ share of EPF contribution i.e. 12% of wages in respect of new employees in establishments employing more than 1000 employee for two years.

Eligibility:

• An employee drawing monthly wage of less than Rs. 15000/- who was not working in any establishment registered with the Employees’ Provident Fund Organisation (EPFO) before 1st October, 2020 and did not have a Universal Account Number or EPF Member account number prior to 1st October 2020 will be eligible for the benefit.
• Any EPF member possessing Universal Account Number (UAN) drawing monthly wage of less than Rs 15000 who made exit from employment during Covid pandemic from March 1, 2020, to September 30, 2020, and did not join employment in any EPF covered establishment up to September 30 will also be eligible to avail benefit.

What is in news : The Union Cabinet on Wednesday approved a viability gap funding support of up to ₹19,041 crore for the implementation of the BharatNet project through Public-Private Partnership (PPP) model in 16 States.

Details :

• The project will be extended to all inhabited villages beyond the gram panchayats in 16 States — Kerala, Karnataka, Rajasthan, Himachal Pradesh, Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, West Bengal, Assam, Meghalaya, Manipur, Mizoram, Tripura, Nagaland and Arunachal Pradesh.
• Revised strategy will include creation, upgrading, operation, maintenance and utilisation of BharatNet by the concessionaire or the private sector partner, who will be selected by a competitive international bidding process.
• The private sector partner is expected to bring an equity investment and raise resources towards capital expenditure and for operation and maintenance of the network.
• Extension of BharatNet to all inhabited villages will enable better access to e-services offered by various governments, enable online education, telemedicine, skill development, e-commerce and other applications of broadband

BHARATH NET

• Implemented by :  Ministry of Communications
• Why : Bharat Net seeks to connect all of India’s households, particularly in rural areas, through broadband by 2017, forming the backbone of the government’s ambitious Digital India programme.
• Contents :
  • Earlier National Optical Fibre Network or NOFN failed due to slow implementation.NOFN is now rebranded as Bharat Net.
  • At present, a special purpose vehicle, Bharat Broadband Network Ltd (BBNL), under the telecom ministry is handling the roll out of optical fibre network.
  • The project is being executed by BSNL, Railtel and Power Grid
  • It is world’s largest rural broadband connectivity programme using Optical fibre
  • The project is being funded by Universal Service Obligation Fund (USOF).
  • The three-phase implementation under the BharatNet project is:
  • Under the first phase, one lakh gram panchayats would be provided connectivity by laying underground optic fibre cable (OFC) lines by March 2017. This phase is nearing its completion.
  • Under the second phase, connectivity will be provided to all 2,50,500 gram panchayats in the country. It is to be completed by December 2018.
  • Under the third phase from 2018 to 2023, state-of-the-art, future-proof network, including fibre between districts and blocks would be created.

Viability Gap Funding (VGF) Scheme

• Viability Gap Finance means a grant to support projects that are economically justified but not financially viable.
• The scheme is designed as a Plan Scheme to be administered by the Ministry of Finance and amount in the budget are made on a year-to-year basis.
• Such a grant under VGF is provided as a capital subsidy to attract the private sector players to participate in PPP projects that are otherwise financially unviable.
• Projects may not be commercially viable because of the long gestation period and small revenue flows in future.
• The VGF scheme was launched in 2004 to support projects that come under Public-Private Partnerships.

What is in news : Security and Exchange Board of India (SEBI) has cleared amendments to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 while reviewing regulatory provisions related to independent directors.

What are the amendments:

• Appointment, re-appointment and removal of independent directors will be done only through special resolution passed by shareholders. This provision will be applicable to all listed entities.
• Under the amended rules, a one-year cooling period will be given for an independent director transitioning to a whole-time director in same company or holding or subsidiary or any company belonging to promoter group.
• Process to be followed by Nomination and Remuneration Committee (NRC) when it is selecting candidates for appointment as independent directors was made transparent.
• NRC required to disclose skills required for appointment as independent director and how proposed candidate fits into that skillset.
• Composition of NRC has been updated to include 2/3rd independent directors instead of current requirement of majority of independent directors.
• Under the new rules, resident Indian fund managers have been allowed to be constituents of foreign portfolio investors and to amend mutual fund rules to provide investment of a minimum amount as prescribed by SEBI.
• Presently, investment of 1% of the amount raised in a New Fund Offer (NFO) or an amount of Rs 50 lakh (whichever is less) is required

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

• Securities and Exchange Board of India (SEBI) on September 2, 2015 issued the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) with the aim to consolidate and streamline the provisions of existing listing agreements for different segments of capital markets such as equity shares (including convertibles), non convertible debt securities, etc. and disclosure norms in relation thereto, thereby ensuring better enforceability.
• The Regulations shall be effective from 90 days from the date of notification of these regulations i.e.  December 01, 2015. But Regulations relating to (i) passing of ordinary resolution instead of special resolution in case of all material related party transactions subject to related parties abstaining from voting on such resolutions, in line with the provisions of the companies Act, 2013, and (ii) re-classification of promoters as public shareholders under various circumstances, shall be effective from September 02, 2015 itself.

What is in news : Minister of State for Ports, Shipping and Waterways  inaugurated the loading operation for the maiden voyage of coastal shipping service Green Freight Corridor-2 from Kochi to Beypore and Azhikkal ports

Details :

• The service is expected to bring about a change in transportation of containers by easing congestion on the road and reducing carbon footprint. This also augurs well to connect the hinterlands of northern Kerala, particularly the export-import (EXIM) trade in Kozhikode and Kannur region, which will gain direct access to Vallarpadam container transshipment terminal by sea, saving cost and transit time.
• Green Freight Corridor Service is operated by Round The Coast Pvt. Ltd., Mumbai, a JM Baxi Group Company. Kollam port too will be added to the service.
• The vessel will call at Kochi port twice a week and send containers to Beypore and Azhikkal ports by feeder service. The commodities that would be shipped include rice, wheat, salt, construction materials, cement, etc., unloaded at Kochi from Gujarat. On the return leg, operators are targeting to move exim cargo such as plywood, footwear, textiles, coffee, etc. Similarly, imported cashew containers would be moved from Kochi to Kollam at a later stage.
• In order to promote coastal shipping of containers, Kochi port is offering 50% rebate on vessel-related charges for river-sea vessels. Similarly, the Kerala government has also offered an operational incentive at 10% above the road transportation cost. The hand-holding measures would help the sustenance of the service during the initial period and would encourage introduction of more services of this kind on a regular basis.
• The service is in keeping with the priority that the Ministry of Ports, Shipping and Waterways has accorded to enhancing synergy between major and non-major ports, in order to promote coastal trade and provide sustainable, cost-effective and efficient customer solutions. By doing so, the Ministry aims to provide seaborne connectivity to trade and industries in the hinterland, reduce congestion on road and rail, besides bringing down logistics cost

What is in news : Russia started construction of fifth nuclear power unit at Kudankulam in Tamil Nadu

Details :

• This development is a significant step in bilateral relation between both the countries.
• Rosatom (a Russian company) is providing technology to construct the Kudankulam plant.
• This plant has six units each having 1,000 MWe generation capacity.
• It is going to be India’s first light water reactor.

Kudankulam Nuclear Power Plant (KKNPP)

• KKNPP is the single largest nuclear power station in India.
• It is situated in Koodankulam in the Tirunelveli district of Tamil Nadu.
• It is scheduled to have six VVER-1000 reactors with an installed capacity of 6,000 MW of electricity.
• It has been built in collaboration with Atomstroyexport, the Russian state company and NPCIL.
• Unit 1 and 2 have started generating electricity
• Unit 3 and 4 are under construction

What :

• GCI is a project of International Telecommunication Union (ITU) to rank cybersecurity capabilities of nations across the globe. It is a trusted reference measuring commitment of nations to cybersecurity at a world level. It is published to raise awareness of importance and different dimensions of cybersecurity issues.
• GCI leverages capacity and expertise of different organizations in order to improve quality of survey, and to promote knowledge exchange in the fields of cybersecurity. ITU Global Cybersecurity Agenda (GCA)​ ​provides general foundation and framework for initiative.​

International Telecommunication Union (ITU): ITU was founded in 1865 and is an integral part of United Nations 1947. It has widest decision-making scope among international ICT organizations with respect to issues addressed and types of decisions made.  Its treaties provide an international legal framework for cooperation between states, private sector etc.

What is in news : India has been ranked at 10th position in the cybersecurity index.

Details :

• India was ranked ahead of China (No. 33) and Pakistan (No. 79) in global cybersecurity ranking of countries.
• India has improved its ranking from 47 to 10 in United Nation’s ITU Global Cybersecurity Agenda (GCA).
• United States has been ranked first and is followed by United Kingdom.
• Improved ranking acknowledges multiple initiatives that India have taken along with CERT (Cyber Emergency Response Team).

• CSTEP has developed a tool to accurately assess the solar potential of rooftops in cities using light detection and ranging, or LiDAR. Named CSTEP's Rooftop Evaluation for Solar Tool (CREST), this tool identifies precise locations for installing rooftop photovoltaic (RTPV) systems on buildings. It also has the potential to aid the Bangalore Electricity Supply Company (BESCOM) in achieving its target of 1.2 GW solar capacity by the end of 2022.
• In a significant achievement, the Rubber Research Institute of India (RRII) under the Rubber Board has decoded the entire genome of the most popular Indian hybrid rubber clone, RRII 105. The findings would have a profound impact on research aimed at improving the genetic potential of rubber trees to produce more rubber and timber.The genome decoding is also expected to provide a major breakthrough on the development of new rubber clones.The tools [molecular markers] for the selection of potential high-yielding varieties at the juvenile stage itself will be developed in the research labs of the RRII so that farmers get better-performing clones more frequently from the Rubber Board
• Justice Ashok Bhushan, who led the Bench that had been monitoring the COVID-19 management and relief throughout the pandemic days, completed his last working day as judge of the Supreme Court on Wednesday. Justice Bhushan is retiring on July 4.
• Jacobabad, located in the Sindh province of Pakistan, recently recorded a temperature as high as 52°  C. Ras al Khaimah in the United Arab Emirates is the only other city to have crossed this deadly threshold.Jacobabad is situated along the Tropic of Cancer, which means that the sun is nearly overhead during the summer months. The mixture of heat and humid air from the Arabian Sea has contributed to the city crossing temperatures of 52 degrees Celsius, which could potentially be fatal for human beings
• NITI Aayog recently released a comprehensive study on not-for-profit hospital model in India.NITI Aayog calls to strengthen not-for-profit hospitals by giving 100% income tax exemption for donations, fast release of dues from government schemes and grants. Not-for-profit hospitals be allowed to utilize primary health care (PHC) infrastructure to take health care in rural India.Non-profit hospitals are mostly funded by charity, religion or research/educational funds. Nonprofit hospitals do not pay federal income or state and local property taxes, and in return they benefit the community.
• Government of Odisha has decided to set up district-level industry and investment promotion agencies in all the districts of state.
• Crown Prince of Saudi Arabia Mohammed bin Salman announced plans of launching second national airline as part of broader strategy to turn kingdom into global logistics hub in a bid to diversify from oil.Creation of another flag carrier will put Saudi Arabia into 5th rank worldwide in terms of air transit traffic.
• In a move to give a major push to tech startups across the country, Atal Innovation Mission, NITI Aayog Wednesday concluded its first fintech cohort of AIM-iLEAP- an initiative to back tech start-ups with much-needed access to industry, markets and investors.
• A two day Regional Conference on the theme “Replication of Good Governance Practices” will be held in Srinagar on July 01 and 02, 2021. The Conference is being organised by the Department of Administrative Reforms and Public Grievances (DARPG) under the Ministry of Personnel, Public Grievances and Pensions in collaboration with Jammu and Kashmir Administration.
• Lt Gen Sanjeev Kumar Sharma, AVSM, YSM will assume the appointment of the Deputy Chief of Army Staff (Strategy) on 01 July 2021.
• The Prime Minister, Shri Narendra Modi has expressed deep grief over the demise of Shri K.V. Sampath Kumar Ji editor of Sudharma,  the Sanskrit daily.
• China was certified as malaria-free by World Health Organisation on June 30, 2021 after a 70-year effort of eradicating this mosquito-borne disease.

• NON-FOOD CREDIT :The major portion of the bank credit is the non-food credit which comprises credit to various sectors of the economy (Agriculture, Industry, and Services) and also in the form of personal loans.The data is provided by RBI
• ACCREDITED INVESTORS : Accredited investors can be individuals, HUFs, family trusts, partnership firms, sole proprietorships, trusts and body corporates on the basis of financial parameters.