Current Affairs 22 May 2021 – IAS Current Affairs

Current Affairs 22 May 2021  focuses on Prelims-Mains perspective. Major events are :

1. Astronomers Collaboration In BRICS Countries
2. Sunderlal Bahuguna and Chipko Movement
3. Personal guarantors liable for corporate debt
4. Kyasanur forest disease
5. Dividend transfer from RBI
6. International Biodiversity Day

Pelims Facts

1. Kalakshetra

Astronomers Collaboration In BRICS Countries

Source : PIB
GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

Why in News ?

Astronomers Collaboration In BRICS Countries discussed. BRICS nations highlighted the importance of enhancing collaboration among astronomers from the countries at the seventh meeting of the BRICS Astronomy Working Group Meeting.

Key Facts

• India hosted the seventh meeting of BRICS Astronomy Working Group (BAWG)
  • Meeting of Brazil, Russia, India, China, and South Africa as well as astronomers from these countries.
  • Held under the Science, Technology, and Innovation track of the BRICS 2021.
  • It witnessed participation of all five BRICS countries with more than 50 participants, including researchers, academicians, and government officials.
• Major Outcomes
  • Strategic and operational matters and recommended the networking of existing Telescopes in BRICS countries.
  • It aims to create regional Data Network and agreed to develop flagship project in this area.
  • future directions of research in this area such as building network of intelligent telescope and data network.
  • Seek funding support to realize the flagship project whenever funding opportunity announced by BRICS funding agencies.

Need for the Astronomers Collaboration In BRICS Countries

• Astronomy is in the forefront of science and technology
• It has the potential to answer fundamental questions on the origins of the universe.
• Also had the answer for humanity’s place in it.
• Astronomy also is a key driver of innovation and an important catalyst for scientific and technical development It will empower human capacity for the knowledge-based economy of the future.

BRICS Astronomy Working Group (BAWG)

• Mission of the BRICS Astronomy Working Group is to promote cooperation between BRICS member countries in the field of astronomy
• The cooperation enabling technologies through joint activities of government, universities, research institutions, and industry.
• Will helps to develop astronomical sciences, generate new knowledge, train human capital, develop new technologies and applications, and improve public understanding of science.
• Each party will participate at their own cost unless alternative sources of funding can be identified.
• Reports on the activities of the BRICS Astronomy Working Group will be submitted to the BRICS STI Senior Officials’ Meeting.
• The Department of Science and Technology of South Africa acts as the Secretariat to the Astronomy Working Group.

About BRICS

• The acronym for five major emerging economies: Brazil, Russia, India, China, and South Africa.
• The grouping has held annual summits since 2009.
• New Development Bank (NDB) is a multilateral development bank established by the BRICS states.

Headquarters	Shanghai, China
Membership	Brazil Russia India China South Africa
Official language	English

• BRICS Contingent Reserve Arrangement (CRA) is a framework for providing protection against global liquidity pressures.
• Bangladesh has been formally invited to join the organization in 2020.
• BRICS countries signed a letter of intent to cooperate in the Information and Communication Technology sector.

Sunderlal Bahuguna and Chipko Movement

Source : India Express
GS II : Conservation, environmental pollution and degradation, environmental impact assessment

Why in News ?

Sunderlal Bahuguna, the Gandhian who was the driving force behind the legendary Chipko movement against deforestation that marked a key milestone in Indian environmentalism, succumbed to Covid.

Sunderlal Bahuguna

• His life was dedicated to social causes, activism, and writing.
• He was awarded the Padma Vibhushan in 2009.
  • In 1981, he had refused to accept the Padma Shri over the government’s refusal to cancel the Tehri dam project despite his protests.
• Initiated the chipko movement and protests against the building of the Tehri dam from the 1980s to 2004. 
• It is to guard the trees on the Himalayan slopes.
• The Chipko movement spread the message of conserving the Environment.
• He was of the opinion that ecology and economy should go together.
• Sunderlalji had started what would become a four-month long padayatra through Tehri, Chamoli, Uttarkashi, Almora.
• He adopted Gandhian methods of protest and hunger strikes.
  • He was also a follower of Gandhian values in food, attire, and behaviour.
• Also he participated in the Independence movement and was subsequently a part of Vinoba Bhave’s Sarvodaya movement.
• His main focus was on the menace of alcoholism in the hills and empowerment of Dalits.
  • Bahuguna’s work that led to the entry of Dalits in temples in Tehri district.

Chipko Movement

• Also known as Chipko Andolan
• It was a forest conservation movement in India a nonviolent protest in India practiced methods of Satyagraha.
• It began in 1973 in Uttarakhand.
• It helps to slow down
  • Rapid deforestation.
  • Expose vested interests.
  • Increase social awareness and the need to save trees.
  • Increase ecological awareness and demonstrate the viability of people power.
  • Began to address the issues of tribal and marginalized people.
  • women became its backbone.
• The slogan “Ecology is the permanent economy” used by Sunderlal Bahuguna.

Tehri dam Movement

• Tehri Dam is the tallest dam in India on the Bhagirathi River Uttarakhand a reservoir for irrigation, municipal water supply and the generation hydroelectricity.
• Tehri Dam has been the object of protests by environmental organizations and local people of the region and formed Anti-Tehri Dam Struggle Committee.
• The protest was against the displacement of town inhabitants and environmental consequence of the weak ecosystem.
  • The relocation of more than 100,000 people from the area has led to legal battles.
• Movement raised concern over the environmental consequences of locating such a large dam in the fragile ecosystem of the Himalayan foothills.
• Even with the concerns and protestation operation of the Tehri Dam continues.

Sarvodaya movement

• The term was first coined by Mohandas Gandhi.
• Sarvodaya means Universal Uplift or Progress of All. 
• Later Gandhian a nonviolence activist Vinoba Bhave embraced the term as a name for the social movement in post-independence India.
• Sarvodaya movement may be viewed as an extension of the efforts of Mahatma Gandhi in the realisation of non-violent socialism.
  • Welfare of all citizens and the welfare of the society as a whole.
• There is no place for violence in the philosophy of sarvodaya.
• Sarvodaya philosophy believes in the establishment of a stateless and classless society.
• Based on Bhave speech Marked the birth of bhoodan movement.

Personal guarantors liable for corporate debt

Source : PIB
GS III : Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment

Why in News ?

The apex court on Friday upheld the central government’s November 2019 notification issued under the Insolvency and Bankruptcy Code (IBC) as “legal and valid”.

Key Facts

• What is it ?
  • Lenders can initiate insolvency proceedings against promoters, managing directors and chairpersons who have signed personal guarantees on corporate loans in case the borrowers default.
  • The bench dismissed a clutch of 75 petitions challenging the 2019 notification.
  • Section 1(3) of the IBC code allows the central government to notify different provisions of the code at different dates, to allow its implementation bit by bit.
• It will allow the lenders to recover their remaining debt from personal guarantors following the conclusion of the Corporate Insolvency Resolution Process (CIRP).
  • That means Personal Guarantors Liable For Corporate Debt if any.
• Central Government Notification 2019 :
  • Central Government brought personal guarantors to companies facing insolvency proceedings under the purview of the Insolvency and Bankruptcy Code (IBC).
  • These rules and regulations lay down the process for initiating insolvency resolution and bankruptcy proceedings against personal guarantors to corporate debtors, inviting claims from creditors, withdrawal of such applications, etc.

About the Insolvency and Bankruptcy Code (IBC)

• The IBC was enacted in 2016, replacing a host of laws, with the aim to streamline and speed up the resolution process of failed businesses.
• The Code also consolidates provisions of the current legislative framework to form a common forum for debtors and creditors of all classes to resolve insolvency.
• The Code creates various institutions to facilitate resolution of insolvency.
• Insolvency Professionals :
  • A specialised cadre of licensed professionals is proposed to be created.
  • These professionals will administer the resolution process, manage the assets of the debtor, and provide information for creditors to assist them in decision making.
• Insolvency Professional Agencies :
  • The insolvency professionals will be registered with insolvency professional agencies.
  • The agencies conduct examinations to certify the insolvency professionals and enforce a code of conduct for their performance.
• Information Utilities :
  • Creditors will report financial information of the debt owed to them by the debtor.
  • Such information will include records of debt, liabilities and defaults.
• Adjudicating authorities :
  • The proceedings of the resolution process will be adjudicated by the National Companies Law Tribunal (NCLT), for companies; and the Debt Recovery Tribunal (DRT), for individuals.
  • The duties of the authorities will include approval to initiate the resolution process, appoint the insolvency professional, and approve the final decision of creditors.
• Insolvency and Bankruptcy Board :
  • The Board will regulate insolvency professionals, insolvency professional agencies and information utilities set up under the Code.
  • The Board will consist of representatives of Reserve Bank of India, and the Ministries of Finance, Corporate Affairs and Law.
• Decision to resolve insolvency :
  • A committee consisting of the financial creditors who lent money to the debtor will be formed by the insolvency professional.
• Liquidation : If the debtor goes into liquidation, an insolvency professional administers the liquidation process.

Kyasanur forest disease

Source : Indian Express
GS II : Issues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources

Why in News ?

A new point-of-care test has been found to be highly sensitive in the rapid diagnosis of Kyasanur forest disease (KFD)

• Kyasanur forest disease also known as monkey fever, which is an emerging public health problem in the country.

Key Facts

• Such point-of-care tests would be beneficial for the diagnosis of KFD as the outbreaks mainly happen in remote areas, where there is lack of well-equipped sample handling and laboratory testing facilities.
• Point-of-care test would be useful in quick patient management and controlling.
• Point-of-care test includes
  • A battery-operated PCR analyser, which is a portable, lightweight
  • Universal cartridge-based sample pre-treatment kit
  • Nucleic acid extraction device that aid in sample processing at the point of care.
  • Present study, we have evaluated the microchip-based TruenatTM KFD Point of Care Test for the rapid diagnosis of KFD.
  • PoCT was found to be highly sensitive, specific with a limit of detection of up to 10 copies of KFD viral RNA.
• Conventional Techniques
  • Diagnosis of suspected cases was entirely dependent on conventional techniques which were laborious and time consuming, delaying timely diagnosis and increased disease burden.
  • Quick and reliable molecular diagnostic tests were developed by NIV requires laboratory abd trained staff.

Kyasanur Forest Disease

• This disease was first identified in Kyasanur forest of Shimoga district in Karnataka during an investigation of monkey mortalities in 1957.
• The disease is caused by a Kyasanur Forest disease virus.
• The virus primarily affects humans and monkeys.
• The virus is maintained mainly in hard ticks, monkeys, rodents and birds.
• It is transmitted via the bite of Haemaphysalis ticks and contact with carcasses of dead monkeys.
• Disease is characterised by chills, frontal headache, body ache, and high fever for five to 12 days with a case fatality rate of 3 to 5 per cent.
• Several outbreaks of KFD have been reported every year especially in five districts of Karnataka with average cases of about 400 to 500 per year.

Dividend transfer from RBI

Source : Indian Express
GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

Why in News ?

The Reserve Bank of India (RBI) will transfer Rs 99,122 crore as surplus to the central government for the nine months ended March 31.

• Every year the central bank pays a dividend to the government to help with the finances from its surplus or profit.

Key Facts

• This is much higher than what most had estimated and what the government itself had budgeted for.
• Central bank has changed its accounting period aligning it with the fiscal calendar (April-March) from this year, earlier July-June calendar.
  • The transfer of nearly a trillion rupees for just nine months of operation is surprising, though it will come as a huge respite to the government.
• The surplus transfer amount is the second highest ever in any financial year.
  • In the financial year 2018-19 RBI transfer 1.76 lakh crore as dividend.
• This will offer a buffer to absorb the losses in indirect tax revenues that are anticipated in May-June 2021 due to lockdown.
• RBI’s transfer this year is as per the economic capital framework (ECF) adopted by the RBI board last year.

What is Surplus Transfer

• The surplus is usually given based on the RBI’s operations over a one-year period.
• Jalan Committee on the RBI’s economic capital intact had recommended that the RBI maintain at all times a minimum contingency risk buffer of 5.5 per cent of its balance sheet.
• As per Section 47 of the RBI Act
  • Profits or surplus of the RBI are to be transferred to the government after making various contingency provisions, public policy mandate of the RBI, including financial stability considerations.

Contingency Fund and Provision
This is a specific provision meant for meeting unexpected and unforeseen contingencies, including
1. Depreciation in the value of securities,
2. Risks arising out of monetary/exchange rate policy operations,
3. Systemic risks and any risk arising on account of the special responsibilities enjoined upon the Reserve Bank.

International Biodiversity Day

Source : Down To Earth
GS III : Conservation, environmental pollution and degradation, environmental impact assessment

Why in News ?

International Day for Biological Diversity is observed every year on May 22. This year 2021 the theme is “We’re part of the solution #ForNature”.

• To spread awareness and to increase understanding of the biodiversity issue the UN decided to celebrate the International Day for Biological Diversity annually.

Key Facts

• A healthy planet is critical for achieving the Sustainable Development Goals. We are depleting resources faster than nature can replenish them.
• International Day for Biological Diversity falls within the scope of the UN Post-2015 Development Agenda’s Sustainable Development Goals.
• Need for Conservation of Biological Diversity
  • Biodiversity plays a major role in maintaining the balance of the earth.
  • It is the foundation of ecosystem services to which human well-being is intimately linked.
  • All the variety of animals, plants, fungi, and even microorganisms like bacteria make up our natural world.
  • Each of these species and organisms works together in ecosystems, like an intricate web, to maintain balance and support life.
  • If one of them gets extinct, then others will start getting endangered too.
• It has been proven that biodiversity loss could expand zoonoses diseases transmitted from animals to humans.
  • If we keep biodiversity perfect it offers excellent tools to fight against pandemics like those caused by coronaviruses.

How to maintain Biodiversity ?

• Avoid single-use plastics like plastic straws, coffee cups, plastic cutlery, take out containers or plastic water bottles
• Reduce or eliminate pesticides and fertilizer
• Reduce your meat consumption
• Eat and purchase seasonal foods
• Buy local foods
• Buy organic foods
• Reduce your food waste
• Compost your food scraps

Prelims Facts

Kalakshetra

• The academy was founded in January 1936 by Rukmini Devi Arundale Based in Chennai.
• In January 1994 Act of the Parliament of India recognised the Kalakshetra Foundation as an Institute of National Importance.

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