Daily Prelims Newsletter(UPSC)|09 JUN 2021 | RaghukulCS

Daily Prelims Newsletter For UPSC
| RaghukulCS

09 June 2021-Wednesday

Table Of Contents

Environment

  • Sea Snot Outbreak 

Economy 

  • National Asset Reconstruction Company Limited (NARCL) 

Society

  • Central Adoption Resource Authority (CARA)

International Relations 

  • ASEAN (Association of Southeast Asian Nations) 

Places in News 

  • Saudi Arabia

Environment

Sea Snot Outbreak

Why in News?

Recently, Sea of Marmara in Turkey, has witnessed the largest outbreak of sea snot.

This outbreak was first recorded in Turkey in 2007.

About Sea Snot:

  • It is marine mucilage formed when algae are overloaded with nutrients due to water pollution and the effects of climate change.
  • The nutrient overload occurs when algae feast on warm weather resulting from global warming.
  • It looks like a brown viscous and foamy substance.

Related Concerns:

Threat to the Marine Ecosystem:

  • It has already caused massive deaths among the fish population, and other aquatic organisms like corals and sponges.
  • It now covers the surface of the sea and has spread to 80-100 feet below the surface, which eventually can reach the bottom and cover the sea floor.

Livelihoods of Fishermen Affected:

  • Since the sludge is getting collected in their nets as well, making them so heavy that they break or get lost.
  • Also, the mucilage coating the strings makes the nets visible to fish and they keep them away.

Water-borne Diseases:

  • It can cause an outbreak of water-borne diseases like cholera in cities such as Istanbul.

Related Information: Nutrient Pollution

  • It is the process when too many nutrients, mainly nitrogen and phosphorus, are added to the water bodies and starts acting like fertilizer, causing excessive growth of algae.
  • This process is also called as Eutrophication.
  • They can naturally occur dueto weathering of rocks and soil in the watershed, or they can come from the ocean due to mixing of water currents.
  • Much nutrients enter coastal waters from wastewater treatment facilities, runoff from land in urban areas during rains, and from farming.

Economy

National Asset Reconstruction Company Limited (NARCL)

Why in News?

Lenders have decided to initially transfer 22 bad loan accounts worth ₹89,000 crore to the proposed NARCL, aiding the cleanup of their balance sheets.

About NARCL:

  • Setting up of NARCL was proposed in budget 2021-22.
  • It will act as a bad bank to take over stressed assets of lenders worth above ₹500 crore.
  • NARCL will contain an asset reconstruction company (ARC) and an asset management company (AMC) to manage and recover due assets.
  • The new entity being created will be in collaboration with both public and private sector banks.

About Asset Reconstruction Company (ARC):

  • It is a specialized financial institution which buys the NonPerforming Assets (NPAs) from banks and other financial institutions to help them clean up their balance sheets.
  • This aids the banks to concentrate on its core job of normal banking activities.
  • The ARCs are registered under the RBI.
  • The SARFAESI Act, 2002 provides the legal basis to set up ARCs in India.

Society

Central Adoption Resource Authority (CARA)

Why in News?

CARA was recently in news due to Supreme Court hearing on adoption of orphaned children owing to COVID-19.

About CARA:

  • CARA is a statutory bodyunder Ministry of Women & Child Development.
  • Key Functions:
    • As the nodal body for adoption of Indian children.
    • Monitors and regulates in-country and inter-country adoptions.
  • CARA is designated as the Central Authority to deal with inter-country adoptions in accordance with the provisions of the Hague Convention on Inter-country Adoption, 1993.
  • CARA deals with adoption of orphan, abandoned and surrendered childrenthrough its associatedandrecognised adoption agencies.
  • CARA is also empowered to frame regulations on adoption-related matters under the Juvenile Justice (Care and Protection of Children) Act, 2015.

About Hague Convention:

  • The Hague Convention on the Civil Aspects of International Child Abduction protects children and their families against the risks of illegal, irregular or premature adoptions abroad.
  • It is a multilateral treaty which came into existence on 1st December 1983.
  • It was ratified by the Government of India in 2003.
  • The Convention applies to children under 16 years.
  • It also ensures the prompt return of the child who has been abducted from the country of their habitual residence.

International Relations

ASEAN (Association of Southeast Asian Nations)

Why in News?

Marking 30 years of their relations, China is hosting Foreign Ministers from the ASEAN countries.

About ASEAN:

  • History:
    It is a regional organization established to promote political and social stability amid rising tensions among the Asia-Pacific’s post-colonial states.
  • The motto of ASEAN: “One Vision, One Identity, One Community”.
  • ASEAN Secretariat:Jakarta, Indonesia.
  • Established in 1967 with the signing of the Bangkok Declaration (ASEAN Declaration) by its founding nations.
  • Founding Nations: Indonesia, Malaysia,Singapore, Philippines, and Thailand.

Institution Mechanism of ASEAN:

  • ASEAN Summit: It is the supreme policy making body of ASEAN. Under the Charter, the Summit should meet twice a year.
  • ASEAN Ministerial Councils: Four important Ministerial Councilsassists the Summit.
  • ASEAN Coordinating Council (ACC)
  • ASEAN Political-Security Community Council
  • ASEAN Economic Community Council
  • ASEAN Socio-Cultural Community Council

Other ASEAN-led Forums:

  • ASEAN Regional Forum (ARF): Established in 1993, the 27 member multilateral grouping was developed to facilitate cooperation on political and security issues.
  • ASEAN Plus Three: Established in 1997 to bring together ASEAN’s ten members, China, Japan, and South Korea.
  • East Asia Summit (EAS): Started in 2005, it seeks to promote security and prosperity in the region.It is generally attended by the heads of state from ASEAN, Australia, China, India, Japan, New Zealand, Russia, South Korea, and the United States. ASEAN plays a central role as the agenda-setter.

Places in News

Saudi Arabia

Why in News?

Saudi Arabia has banned travellers who have received Chinese vaccines, in their country indicating escalating tensions between these two countries.

Related Information:

  • Saudi Arabiais a country in West Asia constituting the vast majority of the Arabian Peninsula.
  • Saudi Arabia is the only country with both a Red Sea coast and a Persian Gulf coast
  • It is currently India’slargest supplier of crude oil.
  • Neighbouring Countries:
    • Jordan and Iraq to the north,
    • Kuwait to the northeast,
    • Qatar, Bahrain, and the United Arab Emirates to the east,

    • Oman to the southeast and
  • Yemen to the south;

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