Daily Current Affairs for UPSC Civil Services Exam – 09 June 2021

In Today’s News:

  1. World Bank’s Global Economic Prospects report.
  2. Plastic Waste Management rules 2016.
  3. Securities Appellate Tribunal.
  4. DNA Sequencing.

1. World Bank’s Global Economic Prospects report

News Summary

World Bank in its June 2021 Global Economic Prospects has projected that India’s economy is expected to grow by 8.3% in the new fiscal year which started from April 2021.

Prelims GS – World News/International Organizations

World Bank:
  • World Bank was founded in 1944.
  • Initially, it was known as the International Bank for Reconstruction and Development and soon it is widely known as the World Bank.
  • The World Bank Group works in every major area of development.
  • It provides a wide array of financial products and technical assistance and helps countries share and apply innovative knowledge and solutions to the challenges they face.
  • The World Bank is like a cooperative, made up of 189 member countries. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank.
  • The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries.
  • Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
  • Some important Reports of World Bank:
    • World Development Report
    • Global Economic Prospects
    • Ease of Doing Business
The World Bank Group consists of five organizations:
  • The International Bank for Reconstruction and Development

    The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries.

  • The International Development Association

    The International Development Association (IDA) provides interest-free loans — called credits — and grants to governments of the poorest countries. Together, IBRD and IDA make up the World Bank.

  • The International Finance Corporation

    The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. It helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.

  • The Multilateral Investment Guarantee Agency

    The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.

  • The International Centre for Settlement of Investment Disputes

    The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.

Click here to know more about World Bank on the official website.

2. Plastic Waste Management Rules 2016

News Summary

Union Environment Minister, Shri Prakash Javadekar launched an awareness campaign on Single-Use Plastics.

Prelims GS – Governance

Key Highlights of Plastic Waste Management Rules 2016:

(Note: These points have been directly taken from the official Government document to highlight the important rules as given in the document.)

  • Every local body shall be responsible for the development and setting up of infrastructure for segregation, collection, storage, transportation, processing, and disposal of the plastic waste either on its own or by engaging agencies or producers.
  • These rules shall apply to every waste generator, local body, Gram Panchayat, manufacturer, Importers, and producer.
  • A carry bag made of virgin or recycled plastic, shall not be less than fifty microns in thickness.
  • Carry bags made of recycled plastic or products made of recycled plastic shall not be used for storing, carrying, dispensing, or packaging ready to eat or drink foodstuff.
  • Local bodies shall encourage the use of plastic waste (preferably the plastic waste which cannot be further recycled) for road construction as per Indian Road Congress guidelines or energy recovery or waste to oil etc.
  • The waste generator shall. –
    a. Take steps to minimize generation of plastic waste and segregate plastic waste at source in accordance with the Solid Waste Management Rules, 2000 or as amended from time to time;
    b. Not litter the plastic waste and ensure segregated storage of waste at source and handover segregated waste to the urban local body or gram panchayat or agencies appointed by them or registered waste pickers’, registered recyclers or waste collection agencies;
  • All institutional generators of plastic waste shall segregate and store the waste generated by them in accordance with the Municipal Solid Waste (Management and Handling) Rules, 2000 notified vide S.O 908(E) dated the 25th September 2000 under the Act or amendment from time to time and handover segregated wastes to authorized waste processing or disposal facilities or deposition centers either on its own or through the authorized waste collection agency.
  • The producers, within a period of six months from the date of publication of these rules, shall work out modalities for waste collection system based on Extended Producers Responsibility and involving State Urban Development Departments, either individually or collectively, through their own distribution channel or through the local body concerned.
  • Manufacture and use of multi-layered plastic which is non – recyclable or non -energy recoverable or with no alternate use of plastic if any should be phased out in two years’ time.

Click here to view the Courtesy: Official document of Plastic Waste Management Rules 2016

Click here to view a summary of the salient features of Plastic Waste Management rules 2016.

Mini Insights

Mains GS2 – Governance/Environment

Efforts taken by the Government to eradicate plastic:
  • The Ministry of Environment, Forest and Climate Change for the first time brought out Plastic Waste Management Rules, 2016, for handling plastic waste in an environmentally sound manner.
  • Under the rules, plastic carry bags below 50 microns have been banned.
  • Many states/UTs have also banned identified single-use plastic items.
  • Further, the Ministry has issued a draft notification in March 2021 for amending the Plastic Waste Management Rules, 2016, with respect to prohibiting identified 12 single-use plastic items such as disposable plastic cutlery, etc.
  • Awareness generation on plastic waste management and reduction in the use of single-use plastic items is vital in bringing about behavioral change.
  • Union Minister Shri Javadekar announced the “India Plastic Challenge – Hackathon 2021”.
  • The “India Plastic Challenge – Hackathon 2021” is a unique competition calling upon start-ups /entrepreneurs and students of   Higher Education Institutions (HEIs) to develop innovative solutions to mitigate plastic pollution and develop alternatives to single-use plastics.

Click here to view the Courtesy: PIB release.

3. Securities Appellate Tribunal

News Summary

There is a piece of news related to Franklin Templeton Asset Management and Securities Appellate Tribunal.

Prelims GS – Governance

  • Securities Appellate Tribunal is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992 to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act; and to exercise jurisdiction, powers, and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.
  • SAT hears and disposes of appeals against orders passed by the Pension Fund Regulatory and Development Authority (PFRDA) under the PFRDA Act, 2013.
  • SAT hears and disposes of appeals against orders passed by the Insurance Regulatory Development Authority of India (IRDAI) under the Insurance Act, 1938, the General Insurance Business (Nationalization) Act, 1972, and the Insurance Regulatory and Development Authority Act, 1999 and the Rules and Regulations framed thereunder.

Click here to view the Courtesy: official website of SAT.

4. DNA Sequencing

News Summary

Genome Sequencing may be used for tracking emerging COVID-19 variants. This may help in facing the pandemic fight.

Prelims GS – Science & Technology

DNA Sequencing:
  • Sequencing DNA means determining the order of the four chemical building blocks – called “bases” – that make up the DNA molecule.
  • The sequence tells scientists the kind of genetic information that is carried in a particular DNA segment.
  • Sequence information can help in determining which stretches of DNA contain genes and which stretches carry regulatory instructions, turning genes on or off.
  • In addition, and importantly, sequence data can highlight changes in a gene that may cause disease.
  • In the DNA double helix, the four chemical bases always bond with the same partner to form “base pairs.” Adenine (A) always pairs with thymine (T); cytosine (C) always pairs with guanine (G).
  • This pairing is the basis for the mechanism by which DNA molecules are copied when cells divide, and the pairing also underlies the methods by which most DNA sequencing experiments are done
  • The human genome contains about 3 billion base pairs that spell out the instructions for making and maintaining a human being.

Click here to view the Courtesy: National Human Genome Research Institute website to know more about DNA sequencing.

Next-Generation Sequencing(NGS):
  • NGS is used for human genome sequencing.
  • NGS can sequence the entire human genome within a day.
  • In virus testing, NGS involves scanning the entire virus genome.
  • This can help identify the variants of the SARS-CoV2 virus and it will help develop new diagnostic tests.
  • The accuracy will also be good because NGS can read the entire bigger chunk of the virus genome.

Courtesy: NCBI




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