Daily Prelims Newsletter(UPSC)|28 May 2021 | RaghukulCS

Daily Prelims Newsletter For UPSC
| RaghukulCS

28 May 2021

Table Of Contents

Science and Technology
  • FASTags 
Economy 
  • Insolvency and Bankruptcy Code, 2016
Art and Culture
  • Rukmini Devi Arundale 
News in Short 
  • Corpse flower 
  • Bao-dhaan 

Science and Technology

FASTags

Why in News?

The Union Government has recently integrated the E-Way Bill system with FASTag and RFID.

About Electronic Way (E-Way) Bill:

  • It is usually a unique bill number generated for the consignment which involve the movement of goods.
  • Under the GST regime, EWBs are mandatory for inter-state transportation of goods valued over ₹ 50,000, with the exemption to precious items such as gold.
  • It is to ensure that goods being transported comply with the GST Law.
  • It is also a tool to track movement of goods and check tax evasion.

About FASTag:

  • A FASTag device employs Radio Frequency Identification or RFID technology for payments directly from the prepaid wallet or savings account linked to it.
  • It is affixed on the windscreen, to enable the vehicles to drive through toll plazas without stopping.
  • It is has unlimited validity, and can be recharged as and when required.
  • FASTag payment method is a part of the National Electronic Toll Collection (NETC) programme.
  • The National Payments Corporation of India or NPCI collects the payments.

Related Information:

  • RFID usesradio waves to read and capture the information stored on the tag attached to any object.
  • A RFID enabled tag can be read from up to several feet away.
  • Also, it doesn’t need to be within direct line-of-sight of the reader to be tracked.

Economy

Insolvency and Bankruptcy Code, 2016

Why in News?

Supreme Court has upheld the government’s notification which had allowed creditors, likefinancial institutions and banks, to move against personal guarantors under the IBC, 2016.

About IBC:

  • The IBC,2016 aims to streamline and speed up the resolution process of failed businesses.
  • The code forms a common forum for debtors and creditors of all classes to resolve the insolvency.
  • The code mandates that the resolution process of a stressed company will have to be completed in a maximum of 270 days (180+90).

Various institutions created by IBC:

  • Insolvency Professionals: A specialised cadre of licensed professionals to administer the resolution process, manage assets of the debtor, and provide information to creditors assisting them in decision making.
  • The Board consists of representatives of RBI, and the Ministries of Finance, Corporate Affairs and Law.Insolvency Professional Agencies: The insolvency professionals are registered with insolvency professional agencies.
  • Information Utilities: Creditors will report financial information of all the debt owed to them by the specified debtor.
  • Adjudicating authorities: The proceedings of the resolution process is adjudicated by
    • National Companies Law Tribunal (NCLT), for companies; and the
    • Debt Recovery Tribunal (DRT), for individuals.
  • Insolvency and Bankruptcy Board: It will regulate insolvency professionals, insolvency professional agencies and information utilities set up under the Code.

Art and Culture

Rukmini Devi Arundale

Why in News?

GoIappointed 12 eminent artistes and musicians to the board of Kalakshetra Foundation, an institution created by Rukmini Devi Arundale.

About Rukmini Devi Arundale:

  • Rukmini Devi Arundale was an Indian Bharatnatyam dancer and was also associated in field of theosophy and animal welfare.
  • She was the first woman to be anominated member of the Rajya Sabha.
  • He founded Kalakshetra Foundation to revitalise the ancient Indian craft of textile printing.
    • Presently, it is recognised as an ‘Institute of National Importance’ by an Act of Parliament.

Key Points about Bharatnatyam:

  • Bharatnatyam is one among the eight classical dances of India recognised by Sangeet NatakAkademi.
  • Bharatanatyam is one of the oldest classical danceform that originated in Tanjore district in Tamil Nadu, India.
  • The origin of this dance can be traced to the Bharata Muni’s Natyashastra.
  • The Abhinaya Darpana by Nandikesvaramentions about the technique and grammar of body movement in Bharatanatyam Dance.
  • This dance form is associated with Devadasi system whereby the young girls were ‘gifted’ by their parents to the temples and married to the chief deity. This dance was performed for the deity.
  • In Bharatnatyam dance, one dancer takes on many roles in a single performance.
  • This form of dance includes both slow and moving; and fast and fluid; dance steps and hence is said to symboliseFireaspect of nature.
  • Apart from movements of the leg, hip and arm expressive eye movements and hand gestures are also used to convey emotions.
  • A person conducts the dance recitation and is called the Nattuvanar.

The performance starts with Alarippu and ends with Thillana.

News in Short

Corpse flower

  • It is an ultra-rare plant which blooms only once every seven to ten years.
  • The flower is also considered to be among the largest in the world.
  • The plant is native to Indonesia. However, its saplings have been cultivated in zoos, botanical gardens, and greenhouses around the world.
  • On average the corpse flower has a lifespan of about three to four decades.
  • The flower has a pungent stench, like rotting meat or a decaying cadaver.

It was listed as an endangered plant in 2018 by the IUCN(International Union for Conservation of Nature).

Bao-dhaan

  • It is Iron rich, thus named ‘red rice’.
  • It is grown in the Brahmaputra valley of Assam.
  • It does not need use of any chemical fertilizer.
  • It has much more nutrient value compared to other varieties of rice

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