Current Drishti Current Affairs Issue-5 May 2024
Current Drishti Current Affairs Issue-5 May 2024
Current Drishti Current Affairs Issue-5 May 2024
Rigorous / Indepth
analysis of High Intensity National / Iran-Israel
International Topics Conflict
Iran-Israel Conflict
Article Index
l Recent Context l History of Iranian-Israeli Co-operation and Conflict l Iran and Israel’s open warfare after decades
of shadow war l Global Impact of the Iran-Israel Conflict l Iran-Israel Conflict : Impact of India l Iran’s Importance of
India l Possible Solutions to De-escalate the Iran-Israel Conflict
Recently, Iran’s President Ebrahim Raisi died
Iran was one of the first Muslim countries to
following a helicopter crash in a mountainous region recognise the new state of Israel. However,
of the country on May 19, 2024. The unexpected ties between the two countries collapsed
death of two powerful Iranian leaders has triggered after Iran’s Islamic revolution in 1979.
a high-stakes power struggle in the Middle Eastern Shah Mohammad Reza Pahlavi was
country. It has also prompted speculations of foul- ousted, and the new supreme leader of
play. the Islamic Republic of Iran, Ayatollah
Recent Context Ruhollah Khomeini, pursued a policy of
Earlier on April 14, 2024 Iran launched
standing up to “arrogant” world powers.
A Shadow War after 1979: After 1979, the
hundreds of drones and missiles towards Israel,
ties between the countries worsened. While
in retaliation for an Israeli attack on its consulate
Israel and Iran have never engaged in direct
that occurred in Damascus, Syria. Several
military confrontation, both have attempted to
senior Iranian generals were killed and Iran
inflict damage on the other through proxies and
vowed to respond.
limited strategic attacks. Israel has attacked
Most of the drones and missiles were neutralised
Iranian nuclear facilities from time to time.
by Israel and its allies. However, a few ballistic
missiles penetrated Israel’s formidable Iron Iran and Israel’s open warfare after
Dome and struck the Nevatim and Ramon decades of shadow war
airbase in the southern Negev desert and a 2010: The US and Israel are believed to have
radar station in the north. developed Stuxnet, a malicious computer virus.
Used to attack a uranium enrichment facility
Backgrounder at Iran’s Natanz nuclear site, it was the “first
History of Iranian-Israeli Co-operation publicly known cyber-attack on industrial
and conflict machinery”, according to Reuters.
Pre-1979 Iran-Israel ties: In 1948, the opposition Iran, meanwhile, is seen as responsible
of Arab states to Israel led to the first Arab-Israeli for funding and supporting several militant
war. Israel won, and it established ties with the groups in the region that are anti-Israel and
Jewish state. In this phase of relations, as an anti-US, such as Hezbollah in Lebanon
analysis from the Brookings Institute, Israel tried and Hamas in the Gaza Strip.
to counter the hostility of Arab states at the time 2012: Iranian nuclear scientist Mostafa Ahmadi-
with the “periphery doctrine” under its first Roshan was killed by a bomb placed on his car
Prime Minister David Ben Gurion. by a motorcyclist in Tehran. A city official blamed
The 1979 Revolution: While Iran was ruled Israel for the attack.
by the Pahlavi dynasty for more than a half- 2018: Israeli Prime Minister Benjamin Netanyahu
century, Iranian-Israeli bilateral relations hails U.S. President Donald Trump’s withdrawal
remained cordial. from Iran’s nuclear deal with world powers after
109
100
100
96 shutdowns violate fundamental rights to freedom
79 77 of expression, and that shutdowns which last
50
indefinitely are unconstitutional.
31
More than 780 internet shutdowns, almost
14 60,000 URLs blocked, a dip in global indices
5 6 8
3
0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024* —research shows that freedom on the net was
Source: Internet Shutdowns - Software Freedom Law Center; weakened in favour of ‘national security’ and
Access Now ‘public order’
Kargil district of Ladakh faced a shutdown of 145 days, which was imposed since August
2019 on the erstwhile State of Jammu and Kashmir. The shutdown was imposed alongside
the suspension of all landlines, mobiles and SMS communication as a preventive measure in
the wake of the abrogation of article 370. It was lifted on December 2019 in the district, but it
continues in other parts of the erstwhile State.
A fair voting process ensures that everyone’s The Court, drawing from a range of legal
voice is heard. John Rawls, an American political precedents, emphasised that there is insufficient
philosopher, studied these principles, and he evidence to question the current polling system,
believed that “justice is fairness.” Several petitions particularly after the implementation of VVPATs.
have been filed in the Supreme Court to challenge SC observed that the microcontrollers
the sanctity of the Electronic Voting Machines
programmed separately by EVM
(EVMs) using VVPATs. Later, the Supreme Court on
manufacturers are neutral, as they do not
April 26, 2024 dismissed the arguments criticising
favour any political party or candidate but
sanctity of voting through EVMs.
only record the buttons pressed by voters.
About VVPAT-EVM Case SC also pointed out that any unauthorised
In 2023, the ADR had filed a petition before
attempt to access the EVM’s microcontroller
the apex court saying that to ensure free and
or memory triggers the Unauthorized Access
fair elections, the tally from Electronic Voting
Machines (EVMs)/ data on votes cast, should Detection Mechanism (UADM), rendering the
be cross-verified with the VVPATs. EVM permanently disabled.
The petition (along with other petitions) seeks The bench stated that candidates requesting
100% verification of votes cast on EVMs using verification would be responsible for
the VVPAT. covering the expenses, and if the EVM is
To make sure that this process is carried out discovered to be tampered with, the incurred
as fast as possible, ADR suggested the use of costs will be reimbursed.
barcodes on VVPAT slips. The court said that the Representation of
Key Highlights of the Judgment the People Act, 1951, is the most effective
In the Association of Democratic Reforms instrument to uphold democratic and republican
v. Election Commission of India Case, 2024, ideals, which are the hallmarks of our preambular
the court upheld the electronic voting machine promise.
(EVM) system, rejecting a return to paper ballots.
ON INTEGRITY What the top court said
Also, the Court rejected the request for OF THE
ON CITIZEN PARTICIPATION
ELECTORAL
100% cross-verification of EVM votes PROCESS
"Repeated and persistent doubts and despair,
even without supporting evidence, can have
with Voter Verifiable Paper Audit Trail "The credibility of
the contrarian impact of creating
the ECI (Election
distrust. This can reduce citizen
(VVPAT) slips, maintaining the current Commission of
participation and confidence in
India) and integrity
random verification in five polling booths of the electoral
elections, essential or a
healthy and robust
per Assembly Constituency. process earned
democracy."
over years cannot
The court said the electoral process in India is a be chaffed and over-
ON MANIPULATION CLAIMS
ridden by baroque
“humongous task” and attempts should not be contemplation s
"The suspicion that the EVMs can be configured or manipulated for
repeated or wrong recording of vote(s) to favour a particular candidate
and speculations.
made to “bring down the system”. should be rejected."
According to the World Health Organisation’s The WHO flagged that the number of lives
(WHO’s) Global Hepatitis Report 2024, India has lost due to viral hepatitis is increasing with the
among the highest burdens of viral hepatitis — disease being the second leading infectious
tied with tuberculosis (TB) as the second largest cause of death globally (with 1.3 million deaths
infectious killer globally — in the world. per year) the same as tuberculosis.
Key Findings of the Report The WHO report said new data from 187
Globally, an estimated 1.3 million people countries show that the estimated number of
died of viral hepatitis in 2022 (as compared deaths from viral hepatitis increased from 1.1
to 1.1 million in 2019), even as its incidence — million in 2019 to 1.3 million in 2022. Of these,
number of new cases in a year — went down to 83% were caused by hepatitis B, and 17% by
2.2 million in 2022 (as compared to 2.5 million in hepatitis C.
2019). The report outlined a series of actions to advance
India accounted for the second-highest number a public health approach to viral hepatitis,
of cases of hepatitis B and C in 2022 after China, designed to accelerate progress towards ending
with 3.5 crore infections, according to a report the epidemic by 2030.
by the World Health Organisation (WHO).
Hepatitis is an inflammation of the liver that can
cause a range of health problems and can be
fatal.
According to the WHO’s 2024 Global Hepatitis
Report released, 254 million people lived with
hepatitis B and 50 million with hepatitis C in
2022 globally.
India, which was second only to China in the
viral hepatitis burden, registered 2.98 crore
hepatitis B cases in 2022 while the number of
hepatitis C infections stood at 55 lakh.
China registered 8.3 crore cases of hepatitis B
and C, representing 27.5% of the total disease
burden.
The report said that with a total of 3.5 crore
cases, India accounted for 11.6% of the total Backgrounder
disease burden globally that year.
About Hepatitis
There are five main strains of the hepatitis
Hepatitis is inflammation of the liver.
virus, referred to as types A, B, C, D and E.
Inflammation is swelling that happens when
While they all cause liver disease, they differ in
important ways including modes of transmission, tissues of the body are injured or infected. It can
severity of the illness, geographical distribution damage your liver. This swelling and damage
and prevention methods. can affect how well your liver functions.
In particular, types B and C lead to chronic Hepatitis can be an acute (short-term) infection
disease in hundreds of millions of people and or a chronic (long-term) infection. Some types
together are the most common cause of liver of hepatitis cause only acute infections. Other
cirrhosis, liver cancer and viral hepatitis-related types can cause both acute and chronic
deaths. infections.
Agra Fort (Uttar Pradesh) 1983 Hill Forts of Rajasthan (Rajasthan) 2013
Ajanta Caves (Maharashtra) 1983 Rani Ki Vav (The Queen’s Stepwell) (Gujarat) 2014
Ellora Caves (Maharashtra) 1983 Archaeological Site of Nalanda Mahavira at Nalanda 2016
(Bihar)
Taj Mahal (Uttar Pradesh) 1983
The Architectural Work of Le Corbusier, an Outstanding 2016
Group of Monuments at Mahabalipuram (Tamil Nadu) 1984
Contribution to the Modern Movement (Chandigarh)
Sun Temple, Konark (Odisha) 1984
Historic City of Ahmedabad (Gujarat) 2017
Churches and Convents of Goa (Goa) 1986
Victorian Gothic and Art Deco Ensembles of Mumbai 2018
Fatehpur Sikri (Uttar Pradesh) 1986
(Maharashtra)
Group of Monuments at Hampi (Karnataka) 1986
Jaipur City (Rajasthan) 2019
Khajuraho Group of Monuments (Madhya Pradesh) 1986
Kakatiya Rudreshwara (Ramappa) Temple (Telangana) 2021
Elephanta Caves (Maharashtra) 1987
Dholavira, a Harappan City (Gujarat) 2021
Great Living Chola Temples (Tamil Nadu) 1987
Sacred Ensembles of the Hoysala (Karnataka) 2023
Group of Monuments at Pattadakal (Karnataka) 1987, 2004
Natural Heritage Site in India
Santiniketan (West Bengal) 2023
Sundarbans National Park (West Bengal) 1987
Buddhist Monuments at Sanchi (Madhya Pradesh) 1989
Western Ghats (Kerala, Tamil Nadu, Karnataka, Goa, 2012
Mountain Railways of India (West Bengal, Tamil Nadu, 1999, 2005,
Maharashtra, and Gujarat)
Himachal Pradesh) 2008
Nanda Devi and Valley of Flowers National Parks 1988, 2005
Humayun’s Tomb (Delhi) 1993
(Uttarakhand)
Qutub Minar and Monuments (Delhi) 1993
Manas Wildlife Sanctuary (Assam) 1985
Mahabodhi Temple Complex at Bodh Gaya (Bihar) 2002
Great Himalayan National Park (Himachal Pradesh) 2014
Rock Shelters of Bhimbetka (Madhya Pradesh) 2003
Keoladeo National Park (Rajasthan) 1985
Champaner-Pavagadh Archaeological Park (Gujarat) 2004
Kaziranga National Park (Assam) 1985
Chhatrapati Shivaji Terminus (formerly Victoria 2004
Terminus (Maharashtra) Mixed Heritage Site in India
Red Fort Complex (Delhi) 2007 Khangchendzonga National Park (Sikkim) 2016
Backgrounder
Top Exporters:
Katchatheevu Island
Table of Contents
lWhy in the news l The History of Katchatheevu Island l The Supreme Court’s Involvement l What are
Maritime Disputes l The United Nations Convention on the Law of the Sea l Ways to Address Maritime
Disputes
Why in News? It serves as a maritime gateway between the
Recently, the Katchatheevu Island dispute two countries which also makes it a strategic
reignited which has long been a source of controversy location.
between Sri Lanka and India, especially with relation Historical Context:
to fishing rights and sovereignty over the uninhabited During British rule, the maritime boundary
island. between India and Sri Lanka (then Ceylon) was
Backgrounder not demarcated, and Kachatheevu Island was
not explicitly addressed in colonial agreements.
The History of Katchatheevu Island: In 1921, during talks between the then
Geographical context: Governments of Madras and Ceylon in
Katchatheevu, an uninhabited off-shore island, connection with the delimitation of Palk Strait and
is a 285-acre island situated in the Palk Strait, the Gulf of Mannar, a Ceylonese representative
separating India and Sri Lanka. claims that Katchatheevu belongs to Ceylon.
The issue of the island’s sovereignty emerged
It was formed due to volcanic eruptions in the
more prominently after both countries gained
14th century.
independence; India in 1947 and Sri Lanka in
It lies northeast of Rameswaram (India) and
1948.
southwest of Jaffna (Sri Lanka).
It has been traditionally used by both Sri Lankan
It’s closer to the Indian coast (33 km) than Sri
Tamil and Tamil Nadu fishermen.
Lanka’s (62 km).
Indo-Sri Lankan Maritime agreement of
1974
In June 28, then Indian Prime Minister Indira
Gandhi formally exchanges an agreement
with her Sri Lankan counterpart Srimavo
Bandaranaike.
India ceded Katchatheevu to Sri Lanka to
resolve a maritime boundary dispute.
She believed at the time that India’s connections
to its southern neighbour would strengthen if its
The Palk Strait is a vital sea passage connecting claim to the island were renounced and that the
the Gulf of Mannar and the Palk Bay. island had little strategic relevance.
The North Atlantic Treaty Organisation (NATO) in Brussels, Belgium, while NATO’s military
pompously celebrates the anniversary of its headquarters are in Mons, Belgium.
establishment on April 4, 75 years ago. They signed the Washington Treaty, which
gets its power from Article 51 of the United
North Atlantic Treaty Organization (NATO):
Nations Charter, “which reaffirms the inherent
NATO is a political and military alliance of
right of independent states to individual or
countries from Europe and North America.
collective defence.”
Its members are committed to protecting each
Article 5 of the Washington Treaty, on collective
other from any threat. security, was added “to counter the risk that the
It was founded on April 4, 1949. Soviet Union would seek to extend its control of
It was established with the primary goal of Eastern Europe to other parts of the continent.”
providing collective defence against potential The only time the article has been invoked
aggression, particularly from the Soviet Union so far was following the September 11, 2001
during the Cold War era. attacks on the US. NATO forces were sent to
The NATO’s main headquarters are located Afghanistan and deployed for nearly 20 years.
News in Short
Romania and Bulgaria partially join Schengen open-travel zone:
The Schengen Area is an area comprising 26
Europe’s Schengen travel zone European countries that have officially abolished
Recently, Romania and Bulgaria partially joined border controls at their mutual borders.
Europe’s ID-check-free travel zone, marking a
new step in the two countries’ integration with the
European Union.
About the Initiative:
Airports in Sofia and Bucharest removed
passport check points for those departing to
or arriving from most European Union member
states.
This effect came after Bulgaria and Romania
partially joined the Schengen open-travel zone.
After years of negotiations to join the Schengen
area, there is now free access for travelers
arriving by air or sea from both countries.
However, land border checks will remain in place
due to opposition primarily from Austria which
has long blocked their bid over illegal migration
concerns.
Austria vetoed Romania and Bulgaria’s
admission into the Schengen zone at the end of
2022 but allowed Croatia full accession. This means that travelers can move freely
Bulgaria and Romania joined the EU in 2007 between these countries without having to go
and Croatia in 2013. through passport control.
valuation of over $10 billion. days over the last year to take the total of known
Decacorn is the more evolved version of the unicorns in the world to a new record of just
unicorn company. under 1500.
These startups have received such investments Despite the slowdown of the economy, China
and have an after-money valuation of over $10 still managed to keep up with the US in terms of
billion as they have shown the globe a great rate new unicorns.
of growth that others can not. Each minting more than one unicorn a week for
Examples : Bytedance, SpaceX, Canva,
every week of the year.
Databricks, Revoult
The US has half of the world’s known
Hectocorn unicorns, led by S99S, Fintech and AI, China
A tech, financial or fintech companies worth a quarter, led by AI, semiconductors and new
more than $100 billion is called Hectocorn. energy.
Hectocorn is alow known as ‘super unicorn’. The report noted that 5% of the global unicorn
Example : Apple, Facebook, Oracle, Cisco Index are spinoffs from a larger company, with
are Hectocorn. the core business startup in the 2000s.
Summary Unicorn Capital of the World
Unicorn : Valuation over $1 billion The San Francisco Bay area (California) United
Decacorn ; Valuation over $10 billion States.
Hectocorn : Valuation over $100 billion
The USA leads the pack with 703 unicorns,
Indepth closely followed by China with 340, reaffirming its
India and Unicorn status as a global innovation powerhouse.
India once a burgeoning hub for startups, Notably, India secures the third position with 67
witnessed a notable decline in unicorn unicorns, despite experiencing a decline in unicorn
creation for the first time since 2017. creation for the first time since 2017.
Recently, the Reserve Bank of India in the month Sovereign Green Bond in India
of April 2024 allowed investment in the country’s In the Union Budget 2022-23, the finance
sovereign Green Bonds by Foreign Institutional minister stated that the government plans to
Investors.
issue sovereign green bonds to raise money for
Key Highlights green infrastructure.
This decision closely follows India’s “Panchamrit
The fund raised by issuing green bonds to be
Pledge” at the conference of Parties (CoP) 26
used to fund public projects that power the
in Glasgow in November 2021.
economy’s carbon intensity. The declaration
Panchamrit (COP 26) is consistent with India’s goal of having net-zero
carbon emissions by 2070.
Reach 500 GW Non-fossil energy capacity
by 2030. India’s Sovereign Green Bond Framework
50 percent of its energy requirements from The framework is closely aligned with India’s
renewable energy by 2030. Panchamrit Pledge.
Reduction of total projected carbon Through this India’s dedication to its Nationally
emission by one billion tonnes from now to Determined Contribution (NDC) targets,
2030. set forth under the Paris Agreement would be
Reduction of the carbon intensity of the further strengthened.
economy by 45 percent by 2030, over The government stated that green bonds
2005 levels. proceeds would be used for green projects that :
Achieving the target of net-zero emissions Reduce Carbon Emission,
by 2070.
Promote climate resilience and adaptation.
Encourage energy efficiency.
Backgrounder Improve Ecosystem & Biodiversity
What is Sovereign Green Bond The proceeds should be allocated to
Government issue Sovereign Green Bond projects within 24 months of issuing the
to raise money for projects that deal with
bonds.
environment or climate.
If an eligible green project is postponed,
Green Bond cancelled, it will be replaced by another
Indepth Analysis
Advantages of Sovereign Green Bonds
Green bonds spur the growth of local market
and provide institutional investors with a boost.
This bond facilitate expansion of local market
by offering benchmark pricing, liquidity, and a
According to World Bank a green bond is a
demonstration effect for local issuers :
debt security that is issued to raise money
for initiatives that are relevant to environment Diversification, one can potentially attract
or the climate. Government offer sovereign a new source of investors.
green bonds to raise money for these kinds of Enhance reputation in market
initiatives. Reduced cost of funds
To assure liquidity, twin bonds can also be Thus, Sovereign Green Bonds of India not only
issued, as Denmark did. Two comparable and contribute to sustainability goals, but also serve
interchangeable bonds are issued under this as a means to strengthen the Indian currency.
CDP – SURAKSHA
Article Index
l Key Highlights l About CDP-Suraksha l Operational Mechanism l India and its Horticulture Sector
l Cluster Development Programme (CDP) l Major Challenges in Horticulture Sector of India l Government
Land use
upto Rs. 100 crore for mega cluster (more
Soil Action
than 15000 ha).
Suitable Vegetables Plans for
Slope
Weighted
overlay areas horticulture
Spices
CDP aims to improve exports of targeted
Ground water crops by about 20% and create cluster specific
prospect
Drainage
Criteria
Plantation
brands to enhance the competitiveness of
table
cluster crops.
In March 2024, the United Nations Conference Trade in goods experienced a 5% decline
on Trade and Development (UNCTAD) released its compared to 2022, while service sector
Global Trade Update Report. witnessed 8% year on year growth.
The report is outlining the state of global trade
Some big economies like China and India,
in 2023 and projections for 2024.
presented a return to growth in the last quarter
Highlights of the Report
Global trade contracted by 3%, amounting to a
of 2023.
$1 trillion decrease from the record high of $32 Despite quarterly improvements, the overall
trillion in the year 2023. trade statistics for 2023 remained negative.
On April 12, 2024, the European Union and India The intended exchange of knowledge and
launched an Expression of Interest (EoI) for startups expertise will be instrumental in advancing the
working in Battery Recycling Technology for Electric circularity of rare materials and transitioning
Vehicles for match making event. towards carbon neutrality in both India and
Key Facts European Union.
What is Expression of Interest : Expression This initiative takes place under the India-EU
of interest is a formal process used in various Trade and Technology Council (TTC).
industries, including real estate, to guage the TTC was announced in April 2022 by India and
interest of potential buyers or investors in European Commission.
particular property or project. Benefits of this collaboration to India
Highlights of E.U. India collaboration The Expression of Interest and match making
To identify support, and promote startups/SMEs event provides a platform for India to promote
dedicated to advancing the field of battery startups and SMEs in the field of EV Battery
recycling technologies for electric vehicles. Recycling Technology.
To facilitate cooperation, This event is promoting sustainable agenda,
To explore potential trade avenues. foster innovation and forge stronger economic
This initiative seeks to deeper customer relations relations between European Union and India.
and explore investment avenues for shortlisted Trade and Technology Council working
startups/SMEs. group offers Indian startups/Small &
Electric Vehicle (BEV) on Hybrid Electric Vehicle markets, including a direct subsidy to EV buyers.
(HEV). This strategy also includes the cell battery and
vehicle component industries.
India and EV market Outlook
Total payout of the scheme is Rs. 18,100 crore.
According to latest report of Bain & Co. Electric
two wheelers could make up about 40 to 50% of Battery Swapping Policy
all EV sold in India. This initiative for electric vehicle would unify the
And electric passenger vehicle could make up battery specifications used in EVs across India.
about 15 to 20%.
Special E-Mobility Zone
As per NITI Aayog Report, the Indian
government is aiming for EV adoption to reach The government intends to create electric car
40% for buses, 30% for private cars, 70% mobility zones.
for commercial vehicles and 80% for two- Only electric cars or equivalent vehicles will
wheelers by that timeline (2030). be authorized to operate in the administration
Economic Survey of India 2023 had forecast designed zones.
a robust 49% Compound Annual Growth Rate Such zones are standard in European
(CAGR) in India’s domestic electric vehicle countries and in China.
Classification of CPSEs
Category Launch Criteria Examples
Maharatna Maharatna Scheme was l Having Navratna status. Bharat Heavy
introduced for CPSEs in l Listed on Indian stock exchange with minimum Electricals Limited,
May, 2010, in order to prescribed public shareholding under Bharat Petroleum
empower mega CPSEs to Securities and Exchange Board of India (SEBI) Corporation Limited,
expand their operations regulations. Coal India Limited,
and emerge as global l An average annual turnover of more than Rs. GAIL (India) Limited,
giants. 25,000 crore during the last 3 years. etc.
l An average annual net worth of more than Rs. [As of April 2024
15,000 crore during the last 3 years.. (Total 13)]
l An average annual net profit after tax of more
than Rs. 5,000 crore during the last 3 years.
l Should have significant global presence/
international operations.
Why in News? Fintech has been driven partly by the robust and
On April 24, 2024, Fintech Company Razorpay effective government reforms that are pushing
launched its own UPI Infrastructure with ‘UPI Switch’. the country towards a digital economy.
UPI Switch is a cloud based innovation in
Indian Fintech Industry
partnership with Airtel Payment Bank.
The size of Indian fintech industry was $50 Bn in 2021,
Key Highlights and it is expected to be at $150 Bn by 2025.
UPI switch is a cutting-edge cloud based The payment landscape in India is expected to reach
infrastructure designed to revolutionise the $100 Tn in transaction volume and $50 Bn in terms of
landscape of digital payments. revenue by 2030.
According to a report by Erust & Young (EY). India
This innovative product promises to enhance
is one of the largest and fastest-growing Fintech
success rates by 4-5% and handle an
ecosystem in the world. Bharat stands second after
impressive 10,000 transactions per second China in terms of the Fintech adoption Index with an
(TPS). adoption rate of 87%.
This system is offering business with
unprecedented efficiency and scalability. In depth Analysis
UPI Switch is catering to the growing demand Key Drivers of Fintech in India
for seamless and efficient payment solutions in
digital economy. Increased Funding
With latency below 100 miliseconds and tailored A substantial increase in investment from
features to suit diverse business needs, the venture capital, private equity and institutional
UPI Switch promises to set new standards in investment has encouraged the rise of Fintech
payment infrastructure. startups.
Backgrounder India Stack
What is Fintech Company India stack is a set of APIs that allows government,
Fintech or financial technology, refers to the businesses, startups and developers to utilize a
technological innovation in design and unique and common digital infrastructure, these
delivery of financial services and products. open API plateforms include adhar, Unified
These companies operate in insurance, asset Payment Infrastructure, Bharat Bill payments
management and payment and numerous other etc.
industries.
Fintech has emerged as a relatively new industry
Innovation in Technology
in India in the past few years. New business models are being developed
The Indian market has witnessed massive using technologies like Machine learning and
investment in various sectors adopting Fintech. Artificial Intelligence.
News in Short
This shift has resulted in substantial growth
Toy Industry Shift from China to India
in India’s toy exports and decline in imports,
Nowadays, the global toy industry is witnessing a positioning India as a net exporter of toys.
significant shift from China to India. It is attributed to The value of toy industry was $1.7 billion in
various reasons including regulatory requirements, 2023 and is projected to reach $4.4 billion by
protectionism and strategic business policy decisions 2032.
by key players. Recently, India’s toy exports grew by As per market research from IMARC this
239%. industry is growing @ 10.6%.
Key Highlights This growth trajectory indicates the
transformative shift and promising prospects for
India’s toy manufacturing sector.
Key Drivers of Shifting from China to India
Higher Custom Duty
The Government of India has increased custom
duty on toys from 20% to 70%.
Government also incentivise domestic
manufacturers to reduce reliance on imports.
This policy aims to make Indian toy industry
competitive in global market.
Protection
India adopted protectionism measure in economy
by growing its custom duty on toy imports.
Only a few regions in the world currently possess Electrical conductivity can be controlled and
the capability to manufacture semiconductor chips. modified by introducing impurities or applying
Due to disruptions in the supply chain caused by the electrical fields, making semiconductors
pandemic and recent geopolitical tensions, many
essential components in electronic devices such
companies and countries, including India, have come
as transistors, diodes, and integrated circuits.
to understand the importance of investing in chip
manufacturing infrastructure. Taking a step in this Silicon is the most commonly used
direction Prime Minister Narendra Modi recently semiconductor material, but other materials like
laid the foundation stone of three semiconductor gallium arsenide and germanium are also used
plants. It will also include country’s first commercial in specialized applications.
fabrication plant.
Semiconductor Chip
A semiconductor chip, also known as an
About the Manufacturing Units
Integrated Circuit (IC) or microchip, is a tiny
Foundation Stone laid by: Prime Minister
electronic device made of semiconductor
Narendra Modi (Virtually)
Foundation Stone laid on: March 13, 2024 material, typically silicon.
Number of Units: 3 (at Morigaon) It consists of many interconnected electronic
Location of units: One in Assam and two in components such as transistors, diodes,
Gujarat (at Dholera and Samand)
resistors, and capacitors fabricated on a single
Special: Includes country’s first commercial
fabrication plant
semiconductor wafer or substrate.
Semiconductor chips serve as the building
About the Fabrication Unit blocks for various electronic devices, including
The Tata Electronics Private Limited (TEPL) computers, smart phones, digital cameras, and
collaborated with Taiwan’s PSMC to establish
many other electronic systems.
a 300 mm (millimetre) wafer fabrication plant in
Gujarat, with plans to launch its initial 28 nm Transistors
(nanometer) chip in 2026. Transistors, pivotal semiconductor components,
Two assembly and test plants in Gujarat and
serve as switches and signal amplifiers on chips.
Assam have also been recently approved by the
Government of India. Integrated into single semiconductor chips, they
power various functions like WiFi in mobile
What is Semiconductor?
A semiconductor is a material that has electrical devices. Their invention laid the groundwork for
conductivity between that of a conductor and an semiconductor revolution, earning Nobel Prizes
insulator. in 1956 and 2000.
Subunit, They use specific pieces of the germ - like its protein, sugar, Booster doses are required
Recombinant, or capsid (a casing around the germ). in some cases
Polysaccharide, and They give a very strong immune response.
Conjugate Vaccines These vaccines are used to protect against: Hib
(Haemophilus influenzae type b) disease,Hepatitis B,
HPV (Human papillomavirus), Whooping cough (part of
the DTaP combined vaccine), Pneumococcal disease,
Meningococcal disease, Shingles
Toxoid Vaccines They use a toxin (harmful product) made by the germ that Booster shots are required
causes a disease. They create immunity to the parts of the to get ongoing protection
germ that cause a disease instead of the germ itself. against diseases
Provide protection against: Diphtheria, Tetanus
Require a projector
Accoustic
and receiver at both
Communication ends of the acoustic
Systems path
GPS Spoofing
Article Index
l What is GPS Spoofing l Working l Satellite Based Navigation Systems
Recently in April, 2024 Israel reportedly used What is GPS Spoofing?
GPS spoofing against Iran’s missile targeting GPS spoofing is a technique used to deceive
teams by jamming Global Positioning System a Global Positioning System (GPS) receiver by
(GPS) navigation signals. Something like this also broadcasting false GPS signals.
happened during Kargil War when USA did the same This can be done by generating signals that
to India. Therefore, the concept of GPS spoofing mimic authentic GPS signals but provide
should be understood as missilbe defence system. inaccurate location information.
information, such as passwords and credit card 2 Ukraine 36.44 12 Belarus 3.87
threats.
Key Points about Iron Dome System 2. Detection & 3. Battle management
4. Missile
It is Israel’s air missile defense system, designed tracking radar & control
firing unit
to protect against short-range rockets by
intercepting them within the country’s airspace, The Iron Dome’s functionality extends to
has the capacity to successfully handle multiple countering various threats including rockets,
rockets concurrently. artillery, mortars, as well as aircraft, helicopters,
Developed jointly by Rafael Advanced Defense and Unmanned Aerial Vehicles (UAVs).
Systems and Israel Aerospace Industries, this Since its activation in 2011, the Iron Dome has
system became operational in 2011. demonstrated an effectiveness of around 90%.
SALIENT FEATURES:
1. Multi Sensor Data Fusion
2. Flight Plan
3. Target Identification
4. Real Time RSAP
5. Surveillance
6. Threat Evaluation
7. Weapon Solutions for Interceptors
Gun Batteries & Missiles
News in Short
of the Indian Space Research Organisation
World’s First “Miss AI” Contest
(ISRO) during the opening ceremony of the
The world’s first artificial intelligence beauty
annual Space Symposium in Colorado.
pageant has been launched by The Fanvue
This prestigious award is given annually by USA
World AI Creator Awards (WAICAs) recently.
The pageant will see AI-generated ladies will based Space Foundation.
compete in front of a panel of judges, including It is given to recognize extraordinary accom-
two AI influencers. plishments by a company, space agency, or
The contestants will be judged based on their consortium of organisations in the realm of
looks, the heft they command online and the space exploration and discovery.
technical skill that went into creating them. The award was established in 2004, in memory
The AI influencers’ social clout will be assessed of John L. “Jack” Swigert, Jr., who was part of
based on their engagement numbers with fans, NASA’s Apollo 13 mission to the moon.
rate of growth of audience and utilisation of
platforms. Bhasha Net portal
The beauty pageant has a prize money of On 21 March 2024, Ministry of Electronics
$20,000. and Information Technology (MeitY) and
ISRO’s Chandrayaan-3 Mission National Internet Exchange of India (NIXI) have
Awarded the Prestigious John L. announced the launch of the BhashaNet portal
“Jack” Swigert, Jr. Award at the Universal Acceptance Day.
The theme of the event was “BhashaNet:
India’s Chandrayaan-3 mission team has been
Impetus Towards Universal Acceptance”.
presented with the prestigious 2024 John L.
‘Jack’ Swigert Jr. Award for Space Exploration The BhashaNet portal is a joint initiative of the
on 8th April 2024. National Internet Exchange of India (NIXI) and
The award was received by India’s Consul the Ministry of Electronics and Information
General in Houston D.C. Manjunath on behalf Technology (MeitY).
Government initiative for Food Waste Banking Network, Food storage warehouse,
Management Mega Food Parks etc. which collects surplus
Government of India has implemented food from hotels, restaurants, and other food
SAMPADA (Scheme for Agro-Marine establishments and distributes it to the needy.
Processing and Development of Agro- The National Food Security Act, 2013 places
Processing Clusters) - the national policy an obligation on the government to deliver
for developing an integrated cold supply chain quality food at affordable prices to the poor. This
for agricultural products - in collaboration with places an indirect obligation on the government
public and private stakeholders. to reduce food wastage in order to achieve the
Government has established the Indian Food mission’s objectives.
News in Short
One synthesis report consolidates findings from
IPCC Reports and Equity in Climate the three Working Group reports. Then there are
Change Mitigation thematic special reports.
In a recent study researchers analysed more Each report assesses climate-related scientific
than 500 future emissions scenarios the UN literature to capture the state of scientific,
Intergovernmental Panel on Climate Change (IPCC) technical, and socio-economic knowledge on
assessed in its latest reports. These scenarios relate climate change.
to mitigation actions like reducing carbon dioxide The IPCC is currently in its Seventh Assessment
emissions from burning fossil fuels and increasing cycle (AR7).
carbon sequestration through forestry.
Key points Backgrounder
Research study published on - March 4, 2024 About Intergovernmental Panel on Climate
Research study is based on - UN Change (IPCC)
Intergovernmental Panel on Climate Change The Intergovernmental Panel on Climate
(IPCC) reports Change(IPCC), consisting of the world’s leading
Major findings of report- It found that across
climate scientists.
all 556 scenarios, income, energy-use, and
Created in 1988 by the World Meteorological
emissions disparities between developed and
developing countries are projected to continue Organization (WMO) and the United Nations
up to 2050. Environment Programme (UNEP).
The objective of the IPCC is to provide govern-
Key Highlights
ments at all levels with scientific information that
What are IPCC assessment reports? they can use to develop climate policies.
Typically, IPCC reports comprise three Working The IPCC currently has 195 members.
Group reports: one on physical science, one on Thousands of people from all over the world
climate adaptation, and one on mitigation action. contribute to the work of the IPCC.
Places in News
to travel freely without internal border controls.
The Schengen zone now comprises 29
members, of which 25 are EU members.
NATIONAL Switzerland, Norway, Iceland and Liechtenstein
Mumbai are also part of the Schengen area of Europe.
Awards
competition among them.
CERAW eek Leadership Award for
Building Global Consensus Towards a
Global Inequality Research Award
Sustainable Energy Future
Bina Agarwal and James Boyce have been
Dr. Sultan Al Jaber was recognized with the
awarded the first “Global Inequality Research
Award” for their significant contributions to ‘CERAWeek Leadership Award for Building
understanding global inequalities, specifically Global Consensus towards a Sustainable
in the areas of social and environmental Energy Future’ for his role in bringing Parties
inequalities. together to deliver the UAE Consensus.
The GiRA Award recognizes the importance Dr. Al Jaber was presented the award by Daniel
of addressing global inequalitiesfrom diverse Yergin, Vice Chairman of S&P Global and
perspectives and disciplines. CERAWeek conference chair.
Mr. Pavadia was re-elected by secret ballot for a 187 Member States and 6 Territories, maintaining
third term for five years from March 2025-2030, their own meteorological services.
receiving the highest number of votes in the Headquartered in Geneva, Switzerland.
highly competitive election. The WMO began operations in 1951
Since 2015, Mr. Pavadia has been a member of NABARD
the International Narcotics Control Board.
NABARD released its Climate Strategy 2030
Founded in 1968, the INCB is the independent
and quasi-judicial monitoring body for document.
the implementation of the United Nations On the occasion of Earth Day, the National
international drug control conventions. Bank for Agriculture and Rural Development
Elected by the Economic and Social Council, (NABARD) released its Climate Strategy 2030
it consists of 13 members who serve in their document.
personal capacity and not as government The Climate Strategy 2030 document has been
representatives. released by Shaji KV, Chairman of NABARD.
IMF NABARD(National Bank for Agriculture and
Rural Development)is India’s apex development
IMF reappointed Kristalina Georgieva as
managing director for another five-year term. bank, established in 1982 under an Act of
The IMF was established in 1944 in the aftermath Parliament to promote sustainable and equitable
of the Great Depression of the 1930s. agriculture and rural development.
Winner – Giovanni Mpetshi Hockey India Major Dhyan Chand Ashok Kumar
Men’s Perricard (France) Lifetime Achievement Award
Singles Runner-up – Nicolas Mejia Hockey India Balbir Singh Sr. Hardik Singh
(Colombia) Award for Player of the Year (Men)
Winners – Arjun Kadhe and Jeevan Hockey India Balbir Singh Sr. Award Salima Tete
Nedunchezhiyan (Both India) for Player of the Year (Women)
Men’s
Runners-up – Piotr Matuszewski Hockey India Dhanraj Pillay Award Abhishek
Doubles
(Poland) and Matthew Christopher
for Forward of the Year
Romios (Australia)
Hockey India Baljit Singh Award P.R. Sreejesh
for Goalkeeper of the Year
Football Hockey India Ajit Pal Singh Award Hardik Singh
for Midfielder of the Year
Indian Super League, 2023-24 Hockey India Pargat Singh Award Harmanpreet
for Defender of the Year Singh
September 21, 2023 – May 4, 2024 Hockey India Jugraj Singh Award Araijeet Singh
of Upcoming player of the Year Hundal
Teams – 12 Matches – 139 (Men Under-21)
Hockey India Asunta Lakra Award Deepika
Champion – Runner-up –
Results
Hockey
(France)
Winner – Carolina Marine (Spain)
Women’s
Runner-up – Kirsty Gilmour
Indian Men’s Hockey Team in Singles
(Scotland)
Australia 2024 Winners – Kim Astrop and Anders
April 6-13, 2024 Men’s Skaarup Rasmussen (Both Denmark)
Winner –
Doubles Runners-up – Andreas Sondergaard
Australia (5-0)
Matches – 5 and Jesper Toft (Both Denmark)
Table Tennis
Zheng Yu (Both China)
Winners – Feng Yan Zhe and Huang
Mixed Dong Ping (Both China)
Doubles Runners-up – Seo Seung Jae and ITTF Men’s and Women’s
Chae Yu Jung (Both South Korea)
World Cup, 2024
Swiss Open, 2024
Macao,
March 19-24, 2024 April 15-21, 2024
China
Basel, Switzerland Results
Results Event Champion Runner-up
Men’s Winner – Lin Chun Yi (Chinese Taipei) Lin
Ma Long
Singles Runner-up – Chou Tien Chen (Chinese Men’s Singles Gaoyuan
(China)
Taipei) (China)
Women’s Winner – Carolina Marin (Spain) Wang
Women’s Sun Yingsha
Singles Manyu
Runner-up – Gregoria Mariska Singles (China)
Tunjung (Indonesia)
(China)
Rank
Country Total
Results Gold Silver Bronze
Event Champion 1. China 15 9 3 27
Men’s Gukesh D. (India 2. Japan 8 5 8 21
Athletics Rotterdam
Marathon, 2024
World Athletics Race Walking Winner – Ashete
Women’s Bekere (Ethiopia)
Team Championships, 2024
Marathon Runner-up – Viola
Kibiwot (Ethiopia)
April 21, 2024
Antalya,
Indian Grand Prix 1, 2024
Turkey April 30, 2024 Bengaluru, Karnataka
4. Harshita 4. Antim
(Red Bull)
(Women’s 72 kg) (Women’s 65 kg)
Runner-up –
5. Manisha
Lando Norris
(Women’s 62 kg)
(McLaren)
Country Total
Gold Silver Bronze
Australian Grand Prix, 2024 Kazakhstan 11 4 9 24
1.
March 24, 2024 2. Uzbekistan 7 3 12 22
Winner
Carlos 3. India 5 9 8 22
Runner-up
Sainz Jr. Charles Leclerc China 1 1 3 5
4.
(Ferrari) (Ferrari)
5. Iran 1 0 2 3
Georgia, USA
Shooting
Winner
Scottie Scheffler (USA)
Archery World Cup (Stage 1) 2024
Shanghai,
April 23-28, 2024
China Miscellaneous
Medal Standing (Top-5)
44th Queen Sirikit Cup (Golf), 2024
Rank
Country Total
Gold Silver Bronze March 20-23, 2024
1. India 5 2 1 8
Winner – South Korea
2. South Korea 2 3 2 7
3. Spain 1 1 0 2
Christchurch, New Zealand
4. China 1 0 1 2
5. Austria 1 0 0 1 This tournament is officially known as Asia –
Pacific Ladies Golf Team Championship.
Indian Gold Medal Winners
1. Jyothi Surekha Vennam (compound
women) 3 × 3 Basketball Asia Cup, 2024
2. Abhishek Verma and Jyothi Surekha
March 27-31, 2024 Singapore
Vennam (compound mixed team)
3. Prathamesh Bhalchandra Fuge, Abhishek
Results
Verma and Priyansh (compound men
Winner – Australia
team)
Men (4th title)
4. Parneet Kaur, Aditi Gopichand Swami
Runner-up – Iran
and Jyothi Surekha Vennam (compound
Winner – Australia
women team)
Women Runner-up – New
5. Dhiraj Bommadevara, Pravin Ramesh
Zealand
Jadhav and Tarundeep Rai (Recurve men
team) Awards
Most Valuable Player (Men) – Todd
Blanchfield (Australia)
Most Valuable Player (Women) – Alex
Wilson (Australia)