Daily Current Affairs UPSC 29 May 2024

Certificates of Deposit (CD)

• Banks are increasingly using Certificates of Deposit (CDs) to raise funds due to a liquidity deficit.
• CDs are a type of negotiable money market instrument.
• They are issued in dematerialised form or as a Promissory Note against deposited funds.
• Scheduled Commercial banks, Regional Rural banks, Small finance banks, and certain All India Financial Institutions can issue CDs.
• CDs can be issued to individuals, corporations, companies, etc.
• They are issued in minimum denominations of ₹5 lakh.
• CDs have a duration of not less than 7 days and up to 1 year for banks, and 1-3 years for Financial Institutions.

PRAGATI-2024

• CCRAS has launched PRAGATI-2024, a Pharma Research initiative in AyurGyan And Techno Innovation.

About Pragati 2024

• PRAGATI-2024 offers collaborative research opportunities between CCRAS and the industry in the field of Ayurveda.
• Ayurveda is India's traditional system of medicine and PRAGATI-2024 aims to showcase its vast potential.

About CCRAS

• CCRAS is an autonomous body under the Union Ministry of Ayush and is the apex body for research in Ayurveda and Sowa-Rigpa system of medicine.

Asia-Pacific Employment and Social Outlook 2024 report

• The International Labour Organisation  (ILO) released a report on the Asia-Pacific region.
• Employment to Population Ratio in the region improved to 58.2% in 2023 from 57.4% in 2022.
• Growth of employment among Indian women contributed to the increase.
• India's old age dependency ratio is projected to increase from 0.10 to 0.22 by 2050.
• India needs a major acceleration of productivity growth to achieve high income status by 2050.
• 76% of manufacturers in India reported skilled labor shortages.

Oedocladium sahyadricum

• A new algal species called Oedocladium sahyadricum was found in the Western Ghats of Kerala.
• This algal species is terrestrial and dioecious, with separate male and female organs.
• It was discovered in wet soil in a habitat that is loamy and acidic.
• Oedocladium sahyadricum has potential applications in medicine, agriculture, and natural pigment production.

Magellan Mission

• Revisiting 30-year-old radar images from the Magellan spacecraft indicates potential volcanic activity on Venus.
• The Magellan Mission was launched by NASA in 1989.
• It was the first spacecraft to capture images of the entire surface of Venus.
• The spacecraft used Synthetic Aperture Radar (SAR) to map the Venusian surface.
• SAR is a technique for creating high-resolution images from radar systems with limited resolution.
• The images from the mission show evidence of volcanism, tectonic activity, and turbulent surface winds on Venus.

Nidoviruses

• Analysis of 30-year-old radar images from the Magellan spacecraft suggests possible volcanic activity on Venus.
• NASA launched the Magellan Mission in 1989 to capture images of the entire surface of Venus.
• The spacecraft utilized Synthetic Aperture Radar (SAR) to map Venus's surface.
• SAR is a method for generating detailed images from radar systems with restricted resolution.
• The images from the mission reveal signs of volcanism, tectonic movements, and strong surface winds on Venus.

Jumping Genes

• A new plant species from Kerala has been named Stellaria mcclintockiae after Barbara McClintock, who discovered Jumping Genes and won a Nobel Prize.
• Jumping genes, also known as transposable elements, are DNA sequences that can move within the genome, affecting nearby genes.
• These genes can replicate themselves and insert copies at new locations, leading to genetic mutations and contributing to genome evolution.

Golden rice

• The Philippines has recently cancelled permits for the commercial growth of genetically modified golden rice.
• Golden Rice is a type of rice that addresses a specific nutritional deficiency without changing taste or cost.
• It contains higher levels of iron and zinc, as well as beta-carotene which is a precursor to vitamin A.
• The beta-carotene in Golden Rice gives it a yellow or golden color.
  Place in News.

Spain (Capital: Madrid)

Spain has pledged to provide military support to Ukraine worth one billion euros this year.

Political Boundaries

• Spain is located in the South-Western part of Europe.
• Land Boundaries include Portugal to the West, Andorra and France to the North-East, Gibraltar (British Overseas territory) and Morocco to the South.
• Maritime Boundaries include the Mediterranean Sea to the east and southeast, Atlantic Ocean to the northwest and southwest, and the Bay of Biscay to the north.

Geographical Features

• The highest peak in Spain is Teide Peak.
• Major rivers in Spain include the Tagus and Ebro.
• Spain has a temperate climate with clear hot summers in the interior and moderate and cloudy conditions along the coast.

"WHO's First Investment Round for Health for All"

• Investment Round launched at the 77th World Health Assembly (WHA).
• WHA is a decision-making body of World Health Organisation (WHO) with the theme of All for Health, Health for All.
• Health for all concept evolved in the Alma-Ata Declaration (1978) to promote Primary Health Care.
• Investment Round aims to mobilize $7 billion for WHO's core work for 2025-2028 to support countries in responding to health challenges.

Funding of WHO

• WHO receives funding from assessed contributions and voluntary contributions.
• Assessed contributions are a percentage of a country's GDP as agreed by the UN General Assembly.
• Voluntary contributions come from Members or other partners and are a major source of total funding.
• Voluntary contributions are further categorized into Core voluntary contributions, Specified voluntary contributions, etc.

Challenges in funding of WHO

• Assessed contributions cover less than 20% of the total budget.
• Withdrawal of funding, such as temporary suspension of funding by the US, poses challenges for WHO's funding sources.

"Breakthrough: India's Quantum Diamond Microchip Imager in the Works"

Development by Tata Consultancy Services and IIT-Bombay

• Project developed in partnership with TCS and IIT-Bombay.
• Aligns with India's National Quantum Mission (NQM) launched in 2023 by the Department of Science & Technology (DST).
• NQM aims to position India as a global Quantum Technology (QT) leader
• QT uses principles of quantum mechanics.

About Quantum Diamond Microchip Imager

• Advanced sensing tool for semiconductor chip imaging.
• Uses defects in diamond's structure (Nitrogen-Vacancy centers) to detect anomalies in chips.
• Reduces chip failures and improves energy efficiency of electronic devices.
• Promotes development of semiconductor industry in India.

Facilitating the Second Quantum Revolution

• Microchip Imager will facilitate the Second Quantum Revolution.
• Second Quantum Revolution involves advancements in QT such as quantum computing.
• Successor of the first quantum revolution in the early 20th century.
• First quantum revolution led to discoveries in quantum mechanics and inventions like the laser and transistor.

About Semiconductor Chips:

• Semiconductor chips are a crucial part of modern electronic devices.
• They serve as the central processing unit in various industries like communications, computing, healthcare, and military systems.
• These chips are typically made from pure elements like silicon or germanium, or compounds like gallium arsenide.

"GM Mosquitoes Released in Djibouti to Combat Malaria"

• The 'Djibouti Friendly Mosquito Programme' aims to prevent the spread of Anopheles stephensi.
• Anopheles stephensi is a type of mosquito that can transmit malaria parasites such as Plasmodium falciparum and P. vivax.
• Only female mosquitoes bite and spread diseases like malaria.
• The project involves releasing non-biting male Anopheles stephensi mosquitoes with self-limiting genes that prevent female offspring from reaching maturity.
• By decreasing the number of female mosquitoes, the programme aims to control the spread of malaria.

Technology used to create GM Mosquitoes

1. Laboratory Method: GM mosquitoes are produced in a lab with two specific genes.

• Self-limiting gene: Prevents female mosquito offspring from reaching adulthood.
  1. This technology has been successfully used in India.
• Fluorescent marker gene: Glows under a special red light.

2. Gene Drives Technology (GDT): A genetic engineering technique that alters genes to bypass typical heredity rules.

• Increases the chances of passing on a specific set of genes to the next generation.
• Allows genes to quickly spread through a population and override natural selection.

Components of GDT:

• Gene to be spread: The specific gene that is targeted for modification or editing.
• Cas9 enzyme: A molecular scissor that can cut DNA at specific locations.
• CRISPR: A programmable DNA sequence that guides the Cas9 enzyme to the correct location for cutting.

Tragic Landslides in Mizoram after Cyclone 'Remal'

Cyclone-induced landslides in Northeast highlight the importance of building resilience to multiple hazards.

Understanding Landslides

• Landslides are the movement of rock, debris, or earth down a slope due to gravity.
  They can be categorized by type of movement and type of material involved.

Causes of Landslides

• Natural factors like rainfall, snowmelt, and earthquakes can trigger landslides.
• Human activities such as agriculture, construction, and deforestation can also contribute to landslides.

Landslide Prone Areas in India

• The Northwest Himalayas account for 66.5% of landslides in India.
• The Northeast Himalayas follow with 18.8%, and the Western Ghats with 14.7%.
• Factors like exposed laterite and root growth contribute to landslides in the Western Ghats.

Efforts to Reduce Landslides

• The National Landslide Risk Management Strategy includes hazard mapping and early warning systems.
• The National Landslide Susceptibility Mapping Programme identifies landslide-prone areas.
• The Landslide Risk Mitigation Scheme provides financial support for specific mitigation projects.

 "Warning: FSSAI Advisory on Unauthorised Human Milk Commercialisation"

FSSAI Regulations on Human Milk Commercialization. FSSAI's stance on human milk commercialization.

• State licensing authorities instructed to not grant licenses for human milk products.

Benefits of Human Milk Donation

• Bioactive molecules in human milk protect against infection and inflammation.
• Tradition of providing safe donor human milk for newborns for over 100 years.
• National guidelines on Lactation Management Centre emphasize voluntary donation at health facilities.

Concerns with Commercializing Human Milk

• Exploitation of low-income women by selling breastmilk to high-income consumers.
• Risks of transmission of pathogens and chemical residues in commercialized human milk.
• Commodification of human milk leading to limited access based on socioeconomic status.

"SEBI Updates InvITs Regulations"

• The new norms now allow for the issuance of subordinate units by privately placed InvITs only to the sponsors upon acquisition of an infrastructure project.
• This move is aimed at bridging the valuation differences between the sponsor (as a seller) and the InvIT (as a buyer).

About InvITs

• InvITs are a type of investment vehicle similar to a mutual fund that allows investors to invest in infrastructure projects such as toll roads, power lines, and pipelines.
• These investment trusts are set up by sponsors (infra companies) through SEBI and are recognized as borrowers under the SARFAESI Act 2002.
• Parties involved in an InvIT include its trustee, sponsor, investment manager, and project manager.
• InvITs generate income through tolls, rents, interest, or dividends from their investments, which are then distributed to investors as taxable earnings.

Significance of InvITs

• Low ticket size: Investors can invest small amounts in InvITs.
• Liquidity: InvITs are listed on stock exchanges and can be exited at any point.
• Transparency: Investors are informed about where their money is being invested.
• Low Risk: InvITs are regulated by SEBI, reducing the risk for investors.

Challenges of investing in InvITs include operational risk, refinancing risk, and return risk.