Daily Prelims Newsletter(UPSC)|13 May 2021 | RaghukulCS

Daily Prelims Newsletter For UPSC
| RaghukulCS

13 May 2021

Table Of Contents

Science and Technology 
  • OSIRIS-REx Mission
Economy
  • Securities and Exchange Board of India (SEBI) 2
International Relations 
  • Organisation for Economic Cooperation and Development (OECD) 
  • International Court of Justice (ICJ)
News in Short 
  • HakkiPikki Tribe 

Science and Technology

OSIRIS-REx Mission

Why in News?

Recently, NASA’s OSIRIS-RExspacecraft and started its two-year long journey back to Earth from asteroid Bennu.

About OSIRIS-REx Mission:

  • It is NASA’s first mission to visit a near-Earth asteroid, survey its surface and collect a sample from it.
  • It was launched in 2016 for the journey to asteroid Bennu.
  • The mission was aimed as seven-year-long voyage and will conclude when the samples form asteroidare delivered back to the Earth (expected in 2023).

About Asteroid Bennu:

  • Bennu is an ancient asteroid, presently more than 200 million miles from Earth.
  • It’sheight is expected to besimilar of Empire State Building (USA).
  • It is named after an Egyptian deity.
  • Bennu asteroid is a B-type asteroid, implying that it contains significant amounts of carbon and various other minerals in significant proportions.
  • Dueto its high carbon content, it reflects only about 4% of the light that hits it.
    • It is very low when compared with planet like Venus, which reflects about 65% and Earth reflects about 30%.
  • Around 20-40% of Bennu’s interior is expected to be empty and scientists believe that it was formed in the first 10 million years of the solar system’s formation, thus it is roughly 4.5 billion years old.
  • There is also a slight possibility that Bennu, which is classified as a Near Earth Object (NEO), may strike Earth in the next century.
  • NEOs are comets and asteroids which are nudged by the gravitational attraction of nearby planets into orbits which allows them to enter the Earth’s neighbourhood.
  • Bennu is believed to have been originated in the main Asteroid belt between Mars and Jupiter.
  • Due to gravitational tugs from other celestial objects and slight push asteroids get when they release absorbed sunlight, the asteroid is coming closer to Earth.
  • Bennuhasn’t undergone drastic changes since its formation over billions of years ago and hence it may contain chemicals and rocks dating back to the birth of the solar system.

About Asteroids:

  • These are rocky objects which orbit the Sun but are much smaller than planets.
  • They are also referred to asMinor Planets.

Economy

Securities and Exchange Board of India (SEBI)

Why in News?

Recently, the SEBI has proposed doing away with the concept of promoters and moving to person in control of organisations.

About SEBI:

  • It is a statutory body established in 1992 under the provisions of the SEBI Act, 1992.
  • In April 1988, SEBI was stablished as a non-statutory body as the regulator of capital markets in India.
  • SEBI, due to its functions can be referred to as:
    • quasi-legislative-draft regulations,
    • quasi-judicial- conduct inquiries, pass rulings.
    • quasi-executive body- impose penalties.

About Securities Appellate Tribunal

  • SAT is a statutory body established under the SEBI Act, 1992.
  • Composition: A Presiding Officer and Two other members.
  • The Presiding officer of SAT is appointed by the GoI in consultation with the Chief Justice of India or his nominee.
  • It has same powers as vested in a civil court.
  • Appeals against SAT’s decisions can be filedin the Supreme Court.
  • SAT can hear and dispose appeals against orders passes by
    • SEBI or by an adjudicating officer under the SEBI Act,1992.
    • Pension Fund Regulatory and Development Authority (PFRDA).
    • Insurance Regulatory Development Authority of India (IRDAI).

International Relations

Organisation for Economic Cooperation and Development (OECD)

Why in News?

Many Non-profit organisations have criticised Brazil’s candidacy to join the OECD while its President Jair Bolsonaro’s is dismantling socio-environmental policies in his country.

About OECD:

  • It is an inter-governmental economic organisation, founded with objective to stimulate economic progress and world trade.
  • Most OECD members are high-income economies with a very high Human Development Index (HDI) and are thus regarded as developed countries.
  • It was founded in 1961.
  • It is headquartered atParis, France.
  • India is not a member, but India is a key economic partner.
  • Reports and Indices released by OECD:
    • Government at a Glance 2017 report.
    • International Migration Outlook.

    • OECD Better Life Index.

International Court of Justice (ICJ):

Why in News?

A top Pakistani court hearing the case of death row convict Kulbhushan Jadhav has asked India to cooperate in the legal proceeding over the matter.

About ICJ:

  • Established in 1945 by the United Nations charter.
  • It is the principal judicial organ of the UN, situated in The Hague, Netherlands.
  • It settles legal disputes between States and also gives advisory opinions in accordance with international law, on the legal questions referred to it by authorized UN organs and specialized agencies.

Structure:

  • The Court is composed of 15 judges, who are elected for terms of office of nine years by the UN General Assembly (UNGA) and the Security Council.
  • Election requires that the candidate must receive an absolute majority of the votes in both bodies.
  • One third of the Court is elected every three years and Judges are also eligible for re-election.
  • ICJ’s official languages are English and French.

Jurisdiction and Functioning:

  • ICJ acts as a world court with following jurisdiction:
    • Legal disputes between States submitted to it by them (contentious cases),
    • Requests for advisory opinions on legal questions referred to it by UN organs and specialized agencies (advisory proceedings).
  • Who all can be party to contentious cases:
    • Only those States which are members of the UN and have become parties to the Statute of the Court.
    • UN states which have accepted ICJ’s jurisdiction under certain conditions, are parties to contentious cases.
  • The judgment is final and binding on the parties to the case and without appeal (at the most the judgement may be subject to reinterpretation or, upon the discovery of a new fact, revision).

News in Short

HakkiPikki Tribe

  • Recently, some members of the HakkiPikki Tribe of Krnataka survived Covid-19.
  • These tribes are semi nomadic tribal people, whohave four clans namely the Gujrathioa, Mewara, Kaliwala, and Panwara.
  • They are known to speak many south Indian languages such as Kannada, Tamil, Telugu and Malayalam, etc.
  • The word HakkiPikki, means “bird catchers” in Kannada.
  • It is one of the Scheduled Tribes in Karnataka.
  • The HakkiPikki tribe is said to have an ancestral relation with the legendary Ranapratap Singh.
  • The HakkiPikki tribal community are warrior tribal community who had to migrate to south India after their defeat with Mughal kings.

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