Daily Current Affairs UPSC 02 May 2024

Supersonic Missile-Assisted Release of Torpedo (SMART) system

SMART system successfully tested at Dr APJ Abdul Kalam Island

• SMART system recently underwent a successful flight test at Dr APJ Abdul Kalam Island in Odisha.
• Next-generation torpedo delivery system.
• Developed by DRDO.
• Canister-based missile system with parachute-based release system.
• Advanced sub-systems include two-stage solid propulsion system, electromechanical actuator system.
• Enhances Indian Navy's anti-submarine warfare capability beyond conventional range of lightweight torpedoes.

Antarctic Treaty 

India is preparing to host the 46th Antarctic Treaty Consultative Meeting, which will be organized by the National Centre for Polar and Ocean Research (NCPOR) under the Ministry of Earth Sciences (MoES).

• The Antarctic Treaty was signed in 1959 and came into effect in 1961, with a total of 56 parties to the treaty.
• India signed the treaty in 1983 and became a consultative party.
• The Indian Antarctic Act, 2022 was enacted to reaffirm India's commitment to the Antarctic Treaty, with key provisions including the peaceful use of Antarctica and freedom of scientific investigation.

Key Protocol and Conventions:

• The Protocol on Environment Protection (Madrid Protocol) to the Antarctic Treaty was established in 1991.
• The Convention on the Conservation of Antarctic Marine Living Resources was adopted in 1980.

Quarks

Neutron Stars and Quark Matter:

• Scientists have found that the interior of most massive neutron stars is likely composed of quark matter.
• Neutron stars are created when a large star exhausts its fuel and collapses.
• Quarks are elementary particles that, like electrons, are not made up of smaller particles.
• Quarks cannot exist alone and are only found in groups of two or three, known as hadrons.
• A clump of a quark and an antiquark is called a meson.
• Quarks are the fundamental building blocks of visible matter in the universe.
• There are six types of quarks: up, down, top, bottom, strange, and charm.

Passive funds

• SEBI increases investment limit for passive funds in sponsor group companies.
• Passive funds invest in indexes to mimic their performance.
• SEBI has decided to raise the investment limit for passive funds in sponsor group companies from 25% to 35% of their total assets. This move allows passive funds like Index Funds and ETFs to have a larger exposure to companies within the sponsor group.
• Passive funds are designed to invest in a particular index in a similar proportion to generate returns that closely mirror the performance of the index. By increasing the investment limit, these funds can more accurately reflect the index's performance in the fund.
• This change also provides passive funds with wider investment options within the sponsor group, potentially leading to greater diversification and opportunities for returns. Overall, the increase in the investment limit can benefit investors by offering more accurate tracking of the index and expanded investment choices.

Cultural and legal significance of marriage

• Supreme Court Case on Wedding Ceremonies in Indian Society.
• Importance of Hindu Marriage as a Samskara and Sacrament.
• Registration vs. Rites in Hindu Marriages.
• Hindu Marriage Act of 1955.

In a recent Supreme Court case, the cultural and legal significance of wedding ceremonies in Indian society was highlighted. The court emphasized that Hindu marriage is considered a samskara and a sacrament, and should be recognized as an institution of great value in Indian society.

The judgment made it clear that simply registering a marriage without the performance of traditional rites does not give it the legitimacy of a Hindu marriage under the law. The Hindu Marriage Act of 1955 acknowledges the importance of both the material and spiritual aspects of this event in the lives of the married couple.

Peucetia chhaparajnirvin

Discovery of Green Lynx Spider in Tal Chhapar Wildlife Sanctuary.

• Scientists recently discovered the green lynx spider in Tal Chhapar Wildlife Sanctuary in Rajasthan, naming it peucetia chhaparajnirvin.
• This nocturnal spider feeds on small insects, making it an important predator in the ecosystem.

Role of Lynx Spiders as Predators

• Lynx spiders are known to be major predators of insects found in low shrubs and herbaceous vegetation.
• They play a crucial role in controlling plant-damaging insects and are important predators in forest ecosystems.

Blue Hole

Taam Ja' Blue Hole in Mexico's Chetumal Bay

• Researchers have discovered that Taam Ja' Blue Hole is the deepest in the world.
• Located on the eastern side of the Yucatán Peninsula.
• Blue holes are water-filled caverns that form below the seafloor.
• They are often found in coastal areas where the bedrock is prone to erosion.
• These formations develop as ocean water seeps through cracks, dissolving minerals and leading to sinkholes that can grow quite large.

Other Prominent Blue Holes

• Dragon Hole in the South China Sea, Great Blue Hole near Belize, and the Dahab Blue Hole in Egypt are other well-known blue holes around the world.

Middle-power

Middle Powers and their Definition

• Middle powers are countries that do not have a universally agreed-upon definition but are typically ranked below great powers in terms of influence over global politics.

Characteristics of Great Powers

• Great powers are countries with a permanent seat on the United Nations Security Council, giving them significant influence in global affairs.

Attributes of Middle Powers

• Middle powers have extensive diplomatic, economic, multilateral, and military capabilities that allow them to exert influence on the global stage.

Examples of Middle Powers

• Middle powers include countries from both the Global North, such as Australia, Canada, and South Korea, and the Global South, such as India, Argentina, Brazil, and Indonesia.

Significance of Middle Powers

• Middle powers play a crucial role in strengthening multilateralism and representing the voice of the global south in international relations.

Lebanon (Capital: Beirut)

Conflict between Hezbollah and Israel along Lebanon border.

Physical Features:

• Situated in West Asia.
• Borders Syria to the north and east, Israel to the south, and the Mediterranean. Sea to the west.
• Shares maritime borders with Cyprus.

Geographical Features:

• Physiography includes the Al-Biqā valley between the Lebanon Mountains and the Anti-Lebanon Mountains.
• Part of the East African Rift System.
• Highest peak is Qurnat al-Sawdā.
• Major rivers include Līānī River, Orontes, etc.

India's E-commerce Market Set to Reach $325 Billion by 2030

Invest India predicts that by 2030, India will be the 3rd largest online retail market in terms of scale.

Invest India is a non-profit organization under the Ministry of Commerce and Industry that promotes and facilitates investments in India.

The current e-commerce sector in India was valued at $70 billion in 2022, accounting for 7% of the total retail market.

There are two key e-commerce models: Inventory Based and Market Based. Inventory Based involves an e-commerce entity owning and selling goods directly, while Market Based connects buyers and sellers through an IT platform like Amazon.

Key drivers of e-commerce growth include increasing internet penetration, digital infrastructure promotion, and the rise of rural-led value e-commerce.

Challenges in the e-commerce sector include digital divide in certain regions, piracy, counterfeit products, and dominance by foreign entities like Amazon.

Initiatives to promote e-commerce in India include the Draft e-Commerce Policy, Open Network for Digital Commerce, Consumer Protection (E-Commerce) Rules 2020, National Logistics Policy 2022, and India Stack.

"India sees sharp increase in tobacco prices"

Reasons for the Increase in Tobacco Prices

• Decrease in crop production in major tobacco-producing countries like Brazil, Zimbabwe, and Indonesia due to extreme weather conditions.
• China imposed restrictions on tobacco exports to protect its local cigarette industry.

Tobacco Production in India

• India is the 2nd largest producer and exporter of tobacco.
• Specific temperature and rainfall requirements for tobacco cultivation.
• Different soil types suitable for growing various tobacco varieties in different regions of India.
• Various types of tobacco cultivated in India such as Flue-cured Virginia, Bidi Tobacco, Cigar & Cheroot, and Pikka Tobacco.
• Tobacco cultivation in India provides livelihood security to 36 million people, earns foreign exchange, and contributes to government revenue.

Tobacco Control Measures in India

• Cigarettes and Other Tobacco Products Act, 2003 prohibits smoking in public places and sale of tobacco products to minors.
• Cigarettes and Other Tobacco Products Packaging and Labelling Amendment Rules, 2022 require health warnings on tobacco product packaging.
• India has taken other steps such as becoming a Party to the WHO Framework Convention on Tobacco Control and implementing the National Tobacco Control Programme.

Private Properties as Material Resources of the Community: Interpretation under Article 39 (b) of the Constitution

• Article 39(b) in the Directive Principles of State Policy focuses on ensuring that the ownership and control of material resources are distributed in a way that benefits the common good.
• The legal validity of Article 31C of the Constitution will be considered by the court in light of the Minerva Mills judgment.
• Article 31C protects laws made under Articles 39(b) and (c) that allow the State to take over material resources, including private properties, for distribution to benefit the common good.
• Article 39(c) emphasizes that the economic system should not lead to the concentration of wealth and means of production to the detriment of the common good.
•  In the Minerva Mills case of 1980, the Supreme Court declared two provisions of the 42nd Amendment unconstitutional, which restricted Judicial Review and gave precedence to the Directive Principles of State Policy over the fundamental rights of individuals.

"75 Years of India-Indonesia Diplomatic Relations"

Establishment of Diplomatic Ties:

• The foundation of diplomatic relations between the two countries was established through the visit of the Indonesian President in 1950 and the Treaty of Friendship in 1951.

Political Aspects:

• Both countries were part of the Bandung Conference in 1955, which led to the creation of the Non-Aligned Movement in 1961.
• The countries established a Strategic Partnership in 2005, which was later upgraded to a Comprehensive Strategic Partnership.
• Cooperation in various international groups such as G20, Indian Ocean Rim Association (IORA), East Asia Summit, and the United Nations.
• Indonesia is involved in India's Act East Policy since 2014.

Trade Relations:

• Indonesia has become India's largest trade partner in the ASEAN region.
• India is the second largest buyer of crude palm oil from Indonesia.

Maritime Cooperation in the Indo-Pacific:

• Indonesia's strategic location between the Indian and Pacific Oceans.
• India's assistance in developing port infrastructure under the Security and Growth for All in the Region (SAGAR) initiative, such as the Sabang port.
• Joint military exercises like Samudra Shakti and India-Indonesia Coordinated Patrol (IND-INDO CORPAT).

Cultural Influence:

• Hinduism and Buddhism have had a significant influence on the culture of Indonesia, acting as a soft power between the two countries.

RBI Updates Guidance on Operational Risk Management

Basis of the Guidance Note

• The Guidance Note is derived from the principles document of the Basel Committee on Banking Supervision (BCBS) from 2021, replacing the previous 2005 version.

Need for Guidance Note

The Guidance Note was created in response to the increasing frequency of Operational Risks (ORs), which are defined as risks stemming from internal processes, people, systems, or external events such as IT threats or geopolitical conflicts.

Key Highlights of Guidelines

The guidelines cover a wide range of entities including commercial banks, non-banking financial companies, cooperative banks, and All India Financial Institutions, expanding from the previous focus on Scheduled Commercial Banks. The guidelines emphasize the three lines of defence model, involving the business unit, Organizational Operational Risk Management Function (OORF), and the audit function. Additionally, there is a focus on third-party dependency management for organizations.

About Basel Committee on Banking Supervision (BCBS)

The BCBS is a global standard setter for the prudential regulation of banks, facilitating cooperation on banking supervisory matters among its 45 members, which include central banks and bank supervisors from 28 jurisdictions.

"ISRO Study: Water Ice Likely in Moon's Polar Craters"

Importance of Ice on the Moon

• Ice is crucial for selecting future landing sites and sustaining long-term human presence on the Moon.
• Water is essential for astronauts for life support and generating rocket fuel.

Key Findings of Study

• The study confirms that volcanic activity in the Imbrian period was the primary source of sub-surface water ice in the lunar poles.
• The study supports previous findings by Chandrayaan-2 regarding the presence of water ice on the Moon.

India's Contribution in Finding Water on the Moon

• In 2009, ISRO's Chandrayaan-1 detected hydrated minerals on the Moon.
• Moon Mineralogy Mapper (M3) onboard Chandrayaan-1, provided by NASA, identified water ice in permanently shadowed regions of the Moon.

About Chandrayaan Missions

• Chandrayaan-1 in 2008 focused on studying the chemical, mineralogical, and photogeologic mapping of the Moon.
• Chandrayaan-2 in 2019 aimed to study surface geology, composition, and exospheric measurements of the Moon.
• Chandrayaan-3, scheduled for 2023, will demonstrate the capability of soft landing and roving on the south pole of the lunar surface.