Daily Prelims Newsletter(UPSC)|07 May 2021 | RaghukulCS

Daily Prelims Newsletter For UPSC
| RaghukulCS

07 May 2021

Table Of Contents

Environment
  • White Bellied heron 
Economy
  • Open Market Operations
Polity and Governance 
  • Central Vigilance Commission
International Relations
  • International Monetary Fund 
  • North Atlantic Treaty Organization (NATO) 

Environment

White Bellied heron

Why in News?

The bird was recently sighted in Namdapha National Park.

About White Bellied Heron:

  • It is an extremely rare bird.
  • IUCN Status (in Red List): Critically Endangered

Natural Habitat:

  • Foundnear small or large rivers, usually with sand or gravel bars,or marshes/lakes near wet grasslands.
  • Range -Eastern Himalayan foothills in Bhutan and north-eastern India to the hills of Bangladesh, Myanmar.
  • In India, found inAssam and Arunachal Pradesh.

Threats:

  • Degradation of forests and wetlands due to exploitation and disturbance by humans.
  • Natural forest fires have also destroyed their nesting sites.
  • Poaching

Protected areas

  • Namdapha Tiger Reserve
  • Kaziranga National Parks
  • Dibru-Saikhowa National Parks
  • Manas National Parks
  • Pabitora Wildlife Sanctuary

About Namdapha Tiger Reserve:

  • Located at the international border between India and Myanmar in the state of Arunachal Pradesh.
  • It is only known park in the World to have the four Feline species of big cat:
  • Tiger (Panthera Tigris),
  • Leopard (Panthera Pardus),
  • Snow Leopard (Panthera Uncia)
  • Clouded Leopard (NeofelisNebulosa).

Economy

Open Market Operations

Why in News?

RBI has decided to conduct simultaneous purchase and sale of G-Secs under Open Market Operations (OMO) for an aggregate amount of Rs 10,000 crore each in view of current liquidity situation in the country.

About the process:

  • Simultaneous purchase and sale of G-Secs under OMOs, involves purchasing G-Sec of longer maturities and selling equal amounts of G-Sec of shorter maturities.

About Open Market Operations:

  • OMO refers to buying and selling of bonds issued by the Government in the open market.
  • It is one of the quantitative tools that RBI uses to smoothen the liquidity conditions.

Impact on Money Supply:

  • When RBI buys a G-Sec in the open market, it pays for it thereby increasing the money supply in the economy.
  • Types of OMOs:
    Selling of a G-Sec by RBI (to private individuals or institutions) leads to reduction the money supply.
    1. Outright OMOs: These are permanent in nature i.e., if RBI buys or sells these securities, it is without any promise to sell or buy them backat a later date.
    2. Repo: Under these operations when RBI buys or sells the security, the agreement also has specification about date and price of resale or repurchase of this security. This is called are purchase agreement or repo.
      • The interest rate at which the money is lent in such a way is called the repo rate.

    Polity and Governance

    Central Vigilance Commission

    Why in News?

    Central Vigilance Commission (CVC)has asked all central government organisations to decide on corruption complaints against employees within three months.

    About CVC:

    • It is the apex vigilance institution created via executive resolution, based on the recommendations of Santhanam committee in 1964.
    • Later, in 2003 it was conferred with statutory status by Central Vigilance Commission Act, 2003.
    • It submits its report to the President of India annually.
    • On receipt of such report, the President causes the report to be laid before each House of Parliament.
    • The CVC is notunder any Ministry/Department. It is an independent body responsible only responsible to the Parliament.
    • CVC has no investigation wing of its own.
    • It depends on the CBI and Chief Vigilance Officers (CVO) of central organizations.

    Composition:

    • Consists of CVCs along with 2 other vigilance commissioners.

    Appointment

    • They are appointed by the President of India on the recommendations of a committee consisting of:
      • Prime Minister,
      • Union Home Minister and
      • Leader of the Opposition in Lok Sabha (if there is no LoP then the leader of the single largest Opposition party in the Lok Sabha).

    Term in Office:

    • Their term is 4 years or 65 years, whichever is earlier.
    • Removal:
    • The CVC or any VCs can be removed from his office only by order of the
    • The grounds for removal are proved misbehavior or incapacity concluded as such by the Supreme Court enquiry on a reference made to it by the President.

    International Relations

    International Monetary Fund

    Why in News?

    Recently, IMF stated that it will revisit its forecast for India’s growth pegged at 12.5% earlier, due to the rising COVID-19 cases.

    About IMF:

    • The IMF was set up in 1945 along with the World Bank after the Second World War to assist the reconstruction of war-ravaged countries.
    • These two organisations were agreed to be set up at a conference in Bretton Woods, USA. Hence, they called as the Bretton Woodstwins. Membership: 189 countries (almost global membership). India joined on 27th December 1945.
    • The IMF’s primary objective is to ensure the stability of the international monetary system i.e., the system of exchange rates which enable countries (and their citizens)to transact with each other.
    • Also, the IMF is mandated to include all macroeconomic and financial sector issues that impact global financial stability.
    • Important Reports published by the IMF:
    • Global Financial Stability Report
    • World Economic Outlook

    North Atlantic Treaty Organization (NATO)

    Why in News?

    The final phase of ending America’s “forever war” in Afghanistan has begun with troops of US and NATO withdrawal.

    About NATO:

    • It is an intergovernmental military
    • It was established by Washington treaty in 1949.
    • Headquarters — Brussels, Belgium.
    • NATO constitutes a system of collective defence whereby its independent member states agree to mutual defence in response to an attack by any external party.
    • Presently it has 30 members and the most recent addition being North Macedonia in 2020.
    • NATO’s membership is open to anyEuropean state in a position to further the principles of Washington Treaty and to contribute to the security of the North Atlantic area.
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