DAILY PRELIMS NEWSLETTER(UPSC)|24 Mar 2021 | RaghukulCS

Daily Prelims Newsletter For UPSC
| RaghukulCS

24 March 2021

Table Of Contents

Environment…………………………………………………………………. 1
  • Coalition for Disaster Resilient Infrastructure (CDRI)….. 1
Science and Technology ………………………………………………. 1
  • Gaganyaan Mission ………………………………………………………… 1
Economy ……………………………………………………………………….. 2
  • Small Finance Banks (SFBs): ………………………………………….. 2
Polity and Governance ………………………………………………….. 3
  • Voter Verifiable Paper Audit Trail (VVPAT) ………….. 3
Places in News ………………………………………………………………. 3
  • Taiwan …………………………………………………………………………… 3
News in Short ……………………………………………………………….. 3
  • Gandhi Peace Prize…………………………………………………………. 3

Environment

Coalition for Disaster Resilient Infrastructure (CDRI)

Why in News?

Recently, PM Modi addressed the opening ceremony of International Conference on Disaster Resilient Infrastructure (ICDRI) held under CDRI.

About CDRI:

  • The CDRI is a global partnership of national governments, UN agencies and programmes, multilateral development banks, the private sector, and knowledge institutions.
  • PM Modi launched CDRI during his speech at the UN Climate Action Summit in 2019.
  • It aims to promote the resilience of new and existing infrastructure systems to climate and disaster risks and path towards sustainable development.
  • Presently there are 22 member countries and 7 organisations.
  • The CDRI Secretariat is based in New Delhi, India.
  • Thematic areas of focus in CDRI is indicated in the image.

    Science and Technology

    Gaganyaan Mission

    Why in News?

    The four cosmonauts who are pilots of Indian Air Force have completed their training in Russia.

    About Gaganyaan Mission:

    • Gaganyaan is a mission by the ISRO aiming to send a three-member crew to space for a period of five to seven days by 2022 when India completes 75 years of independence.
    • Under the Gaganyaan Mission:
      • Three flights would be sent into orbit.
      • There will be two unmanned flights followed by one human spaceflight.
    • The Gaganyaan’s Orbital Module will have three Indian astronauts, including a woman.
    • It will be designed to circle Earth inlow-earth-orbit i.e., at an altitude of 300-400 km from earth for 5-7 days.

    Payloads envisioned for the mission:

    • Crew module –which will carry human beings.
    • Service module – will be powered by two liquid propellant
    • It will also be equipped with emergency escape and emergency mission abort system.

    Related Information:

    • It will be launched by GSLV Mk III, also referred as the LVM-3 (Launch Vehicle Mark-3).
    • The prospective cosmonauts studied in detail with the systems of the Soyuz manned spaceship in Russia.

    Economy

    Small Finance Banks (SFBs):

    Why in News?

    Recently, RBI set up a five-member Standing External Advisory Committee (SEAC), to evaluate applications for universal banks and Small Finance Banks.

    About SFBs:

    • SFBs provide financial services to the unserved and unbanked region of the country.
    • These are registered as a public limited company under the “Companies Act, 2013”.

    Nature and Scope of Activities undertaken by SFBs:

    • Acceptance of deposits
    • Lending to small business units, small and marginal farmers, micro and small industries, and unorganised sector entities.
    • Other simple financial services, if it does not require any commitment of own funds, like the distribution of mutual fund units, insurance products, pension products, etc.
    • SFBs can also become an Authorised Dealer in foreign exchange business as per client’s requirements after authorisation by RBI.

    NOTE: There is no restriction in the area and field of operations of SFBs; however, while granting license preference is given to those applicants who, in the initial phase, sets up banks in under-banked States/districts, such as in the North-East, East and Central regions of the country.

    Related Information: Universal Banks

    • Universal Banks undertake multiple financial activities under one roof, thereby creating a financial supermarket.
    • They can be commercial banks, Financial Institutions, Non-Banking Financial Companies (NBFCs) etc.
    • Such entities focus on using their large branch networkto offer a wide and varied range of services under a single brand name.
    • According to RBI guidelines, resident individuals and professionals who have10 years of experience in banking and finance at senior level are eligible to promote universal banks.
    • However, large industrial houses are excluded to be eligible entities for purpose of Universal Banks, but they are permitted to invest in the banks up to 10%.

    Economy

    Small Finance Banks (SFBs):

    Why in News?

    Recently, RBI set up a five-member Standing External Advisory Committee (SEAC), to evaluate applications for universal banks and Small Finance Banks.

    About SFBs:

    • SFBs provide financial services to the unserved and unbanked region of the country.
    • These are registered as a public limited company under the “Companies Act, 2013”.

    Nature and Scope of Activities undertaken by SFBs:

    • Acceptance of deposits
    • Lending to small business units, small and marginal farmers, micro and small industries, and unorganised sector entities.
    • Other simple financial services, if it does not require any commitment of own funds, like the distribution of mutual fund units, insurance products, pension products, etc.
    • SFBs can also become an Authorised Dealer in foreign exchange business as per client’s requirements after authorisation by RBI.

    NOTE: There is no restriction in the area and field of operations of SFBs; however, while granting license preference is given to those applicants who, in the initial phase, sets up banks in under-banked States/districts, such as in the North-East, East and Central regions of the country.

    Related Information: Universal Banks

    • Universal Banks undertake multiple financial activities under one roof, thereby creating a financial supermarket.
    • They can be commercial banks, Financial Institutions, Non-Banking Financial Companies (NBFCs) etc.
    • Such entities focus on using their large branch networkto offer a wide and varied range of services under a single brand name.
    • According to RBI guidelines, resident individuals and professionals who have10 years of experience in banking and finance at senior level are eligible to promote universal banks.
    • However, large industrial houses are excluded to be eligible entities for purpose of Universal Banks, but they are permitted to invest in the banks up to 10%.

    Polity and Governance

    Voter Verifiable Paper Audit Trail (VVPAT)

    Why in News?

    About VVPAT:


    The Election Commission has decided to use VVPAT along with EVMs at all the Polling booths in the upcoming assembly elections.
    • VVPAT is a method of providing feedback to voters after they had polled using EVMs.
    • A VVPAT is designed to allow voters to verify that their vote was cast correctly.
    • It also provides a means to audit the stored electronic results.
    • It contains
      • Name of the candidate for whom vote has been cast
      • Symbol of the party/individual candidate.

    Places in News

    Taiwan

    Why in news?

    India and Taiwan have recently completed 25 years of partnership.

    About Taiwan:

    • Taiwan is also referred as the Republic of China (ROC).
    • It is an island off the southern coast of China.
    • It has been independently governed from mainland China since 1949.
    • Neighbours:
      • China (officially the People’s Republic of China, PRC),
      • Japan,
      • Philippines
    • Taiwan holds distinction as the most populous state that is not a member of the United Nations and also the largest economy outside the UN.
    • It is considered a global leader in chip manufacturing.
    • PRC views the island as a province, while in Taiwan (a territory with its own democratically elected government) leading political voices have differing views on the island’s status and its relationship with the mainland China.

    News in Short

    Gandhi Peace Prize

    • Recently, Gandhi Peace Prize for the Year 2019 and 2020 were announced by GoI.
    • Gandhi Peace Prize is an annual award started by GoIin 1995.
    • The award is open to all persons irrespective of nationality,language, race, caste,sex or creed.
    • The Jury for the Prize is chaired by PM of India, and comprises of the two ex-officio members,
      • Chief Justice of India, and
      • Leader of the single largest Opposition Party in Lok Sabha.

    Started From 14 Mar 2021

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