Daily Current Affairs for UPSC Civil Services Exam – 11 June 2020

Daily Current Affairs for UPSC Civil Services Exam – 11 June 2020

In Today’s News:

  1. ED brings back gems, jewellery in PNB Case.
  2. Gujarat and Gir Lions.
  3. NHRC sends notices to Delhi and Centre.
  4. Stations to be classified on wastewater output.
  5. New guidelines for the import of exotic species.
  6. As NBFCs face redemption pressure, RBI hints at more support.

1. ED brings back gems, jewellery in PNB Case

News Summary

The Enforcement Directorate has brought from Hong Kong major precious metals like diamonds and pearls with a declared value of over Rs.1350 crores which are in connection with Punjab National Bank Nirav Modi and Mehul Choksi case.

Note: For UPSC, the case is not important, we need to know about ED.

Prelims GS – Economic Development

ED:
  • Enforcement Directorate
  • Specialized Financial Investigation Agency
  • Works under the Department of Revenue, Ministry of Finance
  • Responsible for enforcing two important fiscal laws
    • Foreign Exchange Management Act 1999 (FEMA)
    • Prevention of Money Laundering Act 2002 (PMLA)

Mini Insights

Mains GS3 – Economic Development

Functions of ED:
  • Investigate contraventions of the provisions of the FEMA act 1999.
  • Investigate offenses of the Prevention of Money Laundering Act 2002.
  • Processing cases of Fugitives from India under the Fugitive Economic Offenders Act 2018.
  • Sponsor cases of preventive detention under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act 1974.
  • Render Cooperation to foreign countries in matters related to money laundering and restitution of assets under the provisions of PMLA and to seek cooperation.

For more information on Enforcement Directorate, visit the official website

2. Gujarat and Gir Lions

News Summary

The number of lions in Gir Forests has increased by over 29% over the last 5 years as per the census of the exclusive population on June 5. The total number of lions in Gir Forest and other regions of Gujarat has increased to 674. This shows that Forest departments have been working hard to conserve the lions.

Prelims GS – Environment

Gir Lions (Asiatic Lions):
  • Gir Forest is a place in Gujarat
  • Gujarat(Gir Forest) is the only place exclusively for Asiatic Lions in India
  • Asiatic Lions are naturally found in India only (UPSC 2019 Prelims Question)
  • IUCN Status of Asiatic Lion: Endangered

Mini Insights

Mains GS3 – Environment

Reasons for the increase in Gir Lions (Asiatic Lions):
  • Community participation in conservation
  • Technological emphasis
  • Wildlife healthcare
  • Proper habitat management
  • Mitigation of human-lion conflict
  • Proper vaccination to Lions

NOTE: These points can also be used for any other questions regarding the increase in animals’ rate if applicable

3. NHRC sends notice to Delhi and Centre

News Summary

The NHRC has issued notices to the Union Health and Family Welfare and the Delhi Government concerning the complaint filed by a person regarding the inadequate healthcare facilities for COVID-19 patients in the city.

Prelims GS – Polity

Refer Prelims content of NHRC on 9th June

Mini Insights

Mains GS2 – Polity

Refer Mains content of NHRC on 9th June

4. Stations to be classified based on wastewater output

News Summary

The CPCB will classify railway stations into Red, Orange, and Green based on the quantity of wastewater generated and the disposal of untreated water into the municipal drain systems. This mechanism will help in reducing the wastewater and will increase the installation of wastewater recycling plants.

Prelims GS – Environment

CPCB:
  • Central Pollution Control Board
  • CPCB is a statutory organization
  • It is established under Water (Prevention and Control of Pollution), Act 1974 and has also been entrusted with powers and functions under Air (Prevention and Control of Pollution), Act 1981
  • CPCB works under the Ministry of Environment, Forest and Climate Change

For more information on CPCB, visit the official website

5. New guidelines for import of exotic species

News Summary

The Ministry of Environment and Climate Change has said that people who are importing exotic species need to make a voluntary disclosure. This move is very significant in the current situation of zoonotic diseases from animals and illegal wildlife trade. Here exotic species refer to the species covered under Appendices I, II, III of CITES.

Prelims GS – Environment

CITES:
  • The Convention on International Trade in Endangered Species of Wild Fauna and Flora
  • It is an international agreement between governments
  • Aim: To ensure that international trade in specimens of wild animals and plants does not threaten their survival
  • Species in CITES are covered under three Appendices
  • Appendix I :
    • Consists of species threatened with extinction.
    • Trade-in specimens of these species are permitted only in exceptional circumstances.
    • Eg: Asiatic Lion, tigers
  • Appendix II :
    • Consists of species not necessarily threatened with extinction, but in which trade must be controlled to avoid utilization incompatible with their survival.
    • Eg: White shark, American black bear
  • Appendix III:
    • Contains species that are protected in at least one country
    • Eg: Alligator Turtles

6. As NBFCs face redemption pressure, RBI hints at more support

News Summary

In the wake of Covid-19, NBFCs are facing serious issues leading to higher redemption pressure. RBI has said that more support is needed for NBFCs to make them stronger as before. RBI said that stress in NBFCs and developments require policy interventions, which should be beyond liquidity-related measures to credit-related ones. Ensuring the flow of credit/liquidity to NBFCs with concrete credit backstop to address the risk aversion in the system is the need of the hour.

Prelims GS – Economic Development

NBFC:
  • Non-Banking Financial Company
  • NBFCs are companies registered under the Companies Act, 1956
  • NBFCs are engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of the immovable property

Mini Insights

Mains GS3 – Economic Development

What features of NBFCs make it different from banks?
  • NBFCs cannot accept demand deposits(DD) and cannot issue cheques drawn on itself.
  • Deposits of NBFCs are not insured whereas deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is available for Bank Deposits.
  • They do not form a part of the payment and settlement system.
  • All banks are registered with RBI whereas only certain NBFCs are registered with RBI. Other NBFCs like Venture Capital Fund/Stock Broking Companies need to be registered with SEBI.

 

Click here for Daily current affairs for the UPSC exams on other dates.