PIB Summary- 28th July, 2021 | PIB (Press Information Bureau) Summary - UPSC PDF Download

Secured Logistics Document Exchange

Context: Secured Logistics Document Exchange (SLDE) launched along with a Calculator for Green House Gas Emissions.

What’s in the News?

• The government launched a secured logistics document exchange platform for digital exchange of logistics-related papers and a calculator for greenhouse gas emissions for choosing the sustainable and right mode of transport for freight movements.
• The SLDE platform is a solution to replace the present manual process of generation, exchange and compliance of logistics documents with a digitised, secure and seamless document exchange system.

Benefits

• The digital initiative is expected to improve logistics efficiency, reduce logistics cost and promote multi-modality and sustainability in a big way.
• It will enable generation, storage and interchange of logistics-related documents digitally using Aadhaar and blockchain-based security protocols for data security and authentication.
• It will also provide a complete audit trail of document transfer, faster execution of transaction, lower cost of shipping and overall carbon footprint, easy verification of authenticity of documents, and lowered risk of fraud.

Calculator for GHG Emissions

• The calculator is an efficient and user-friendly tool which provides for calculating and comparing GHG emissions across different modes.
• It allows for commodity-wise comparison of GHG emissions and total cost of transportation, including their environmental cost, between movement by road and rail.

Raja Mircha Chilli

Context: King Chilli ‘Raja Mircha’ from Nagaland exported to London for the first time.

Raja Mircha Chilli

• Nagaland King Chilli or Raja Mircha belongs to genus Capsicum of family Solanaceae.
• Naga king chilli has been considered as the world’s hottest chilli and is constantly on the top five in the list of the world’s hottest chilies based on the Scoville Heat Units (SHUs).
• The chilli from Nagaland is also referred to as Bhoot Jolokia and Ghost Pepper.
• It got GI certification in 2008.

Rafale Fighter Jet

Context: The Indian Air Force formally inducted Rafale aircraft into No. 101 Squadron at Air Force Station Hasimara in Eastern Air Command (EAC).

Origins of the Rafale Fighter Jet

Towards the closing decades of the Cold War in the 1970s, the French military was looking to replace their current fleets of aircraft. To mitigate development coasts ad earn a hefty profit, France signed deals with the United Kingdom, Germany, Italy to produce a multirole fighter jet, the Eurofighter Typhoon.
However, multiple disagreements over intellectual property rights, workshare and difference in requirements led France to back out of the deal and pursue its own aircraft development programme.
The French government released a tender where they invited major defence contractors to demonstrate their technology. The tender was awarded to Dassault in July 1986 as a part of an eight-year-flight-test programme, laying the groundwork of the Rafale fighter jet project.
The Rafale is unique in the sense that it is the only aircraft of its time to be solely built by France, that involved major French defence contractors, such as Dassault and Thales.

Acquisition by the Indian Airforce

In order to boost its air superiority parameters, the Indian Force placed orders for Rafale jets in April 2011, following a technology demonstration during that year. Following multiple rounds of negotiations between the French and the Indian governments, an agreement was reached on 23 September 2016 between Indian Defence Minister Manohar Parrikar and his French counterpart Jean-Yves Le Drian. The agreement stipulated that 36 Rafales would be delivered to the Indian Air Force for €7.8 billion with an option for 18 more to be delivered.
To counter the latest versions of the Pakistani F-16s, the Indian government wanted their Mig-21 fleet to be replaced by the Rafale jet. Ahead of the Indian Air Force Day on 8 October 2019, a ceremony was conducted for the first formal hand over of the Rafale at the Dassault’s manufacturing facility in Bordeaux. The aircraft had the tail number “RB-001” to mark IAF chief-designate Air Chief Marshal RKS Bhadauria’s role in the 2016 deal.
Delivery of 36 Rafales started on 27 July 2020 with first 5 Rafales delivered to Indian Airforce from France.
India is set to have all 36 by the end of 2021

Specifications of the Rafale Fighter Jet

The combat specifications of the Rafale fighter jet is given in the table below:

Variations of the Rafale Jet

The variations of the Rafale Jet is given in the table below:

International Financial Services Centres Authority (Capital Market Intermediaries) Regulations, 2021

Background

• International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs) in India.

What is the International Financial Services Centres Authority (IFSCA)?

The IFSCA was established in April 2020 under the International Financial Services Centres Authority Act, 2019. It is a statutory authority established by the Indian Government.

• It is an authority to develop and regulate financial services, financial products and financial institutions in the International Financial Services Centre (IFSC) in India. 
• Currently, there is only one IFSC being developed in India, Gift City, in Gandhinagar, Gujarat.
• Before the IFSCA was established, the financial services and institutions were regulated by the domestic financial regulators such as SEBI, RBI, IRDAI, PFRDA, etc.
• The main goal of the IFSCA is to promote ease of doing business in IFSC and provide a world class regulatory environment. 
• The IFSCA will not only regulate the nature of business which will be transacted in the IFSC but will also be regulating the functioning of the entities involved with transacting business in IFSC.
• IFSCA is headquartered in Gandhinagar. Its current chairman is Injeti Srinivas.

IFSCA Members
The IFSCA consists of nine members appointed by GOI. The members are:

• Chairperson 
• 1 member from RBI
• 1 member from SEBI
• 1 member from PFRDA
• 1 member from IRDAI
• 2 members from the Finance Ministry
• 2 members appointed on recommendation of a Selection Committee

The term of each member is three years subject to reappointment.

What is an International Financial Services Centre?

An International Financial Services Centre (IFSC) is a financial centre that caters to customers outside the jurisdiction of the domestic economy. It is also known as an offshore financial centre since it deals with flow of finance, financial products and services across borders.
An IFSC is, thus, a jurisdiction that provides world class financial services to non-residents and residents, to the extent permissible under the current regulations, in a currency other than the domestic currency of the location where the IFSC is located. 

• Examples of existing international or global financial centres can be London, Singapore and New York.
• Shanghai and Dubai are budding IFSCs.

Why IFSCs? (Advantages of IFSCs)

• They seek to attract overseas investors by bringing financial services that are currently being carried outside India by overseas financial institutions.
• In this age of globalization, IFSCs serve many purposes including fundraising, global tax management and corporate treasury management.
• An IFSC facilitates the rerouting of financial services and transactions that are currently carried out in offshore financial centres by Indian corporate entities and overseas branches/subsidiaries of financial institutions (such as banks, insurance companies, etc.) to India.
• The business and regulatory environment offered by an IFSC in India would be comparable to that of London, New  York, etc. attracting investors.
• It can also provide enhanced access to global financial markets for Indian corporates.
• There are also many tax benefits for entities set up in the IFSC.
• IFSCs help in the creation of fintech hubs. With a large number of Indians outside India working in fintechs, India can be positioned as a fintech hub.

Services an IFSC can Provide

• Fundraising services for corporations, individuals and governments.
• Wealth management.
• Asset management and global portfolio diversification undertaken by pension/mutual funds and insurance firms.
• Global tax management and cross-border tax liability optimisation, providing a business opportunity for financial intermediaries, law firms and accountants.
• Risk management operations (insurance and reinsurance).
• Global and regional corporate treasury management operations.
• Mergers and acquisitions between trans-national corporations.

What does an IFSC require?
IFSCs have six major building blocks as seen in the Shanghai International Financial Centre and the Dubai International Financial Centre, both of which are located within Special Economic Zones (SEZs).

Legal Provision for IFSC in India

The Special Economic Zone Act, 2005 provides for the establishment of an IFSC in India. It would be prudent to set up an IFSC within an SEZ since there are several restrictions on the financial sector in India. An SEZ can serve as a testing ground for financial sector reforms before they are rolled out in the entire nation. As per the SEZ Act, the government approved GIFT City as a Multi Services Special Economic Zone (“GIFT SEZ”) in Gandhinagar.
Additional Information about IFSCs
There are three models of IFSCs currently seen.
Model 1: Full-service finance centres like Tokyo and New York with their own large domestic economies along with a good regulatory and legal backup.
Model 2: Offshore financial centres such as Mauritius which do not have a robust domestic economy but have international access and acceptance.
Model 3: A hybrid model like Singapore which can boast of both domestic and international business.
India has opted to go for the third hybrid model.

What’s in the news?

• IFSCA proposes to enact a regulatory framework for the intermediaries in the capital markets operating in IFSC, focusing on ease of doing business and consistent with the fundamental principles laid down by the International Organization of Securities Commissions.
• The proposed IFSCA (Capital Market Intermediaries) Regulations, 2021 (Intermediaries Regulations) inter alia provide for regulatory requirements in respect of registration, obligations and responsibilities, inspection and enforcement of various types of capital market intermediaries such as broker dealers, clearing members, depository participants, investment bankers, portfolio managers, investment advisers, custodians, credit rating agencies, debenture trustees and account aggregators.
• The proposed regulations also envisage registered capital market intermediaries to undertake cross-border business in capital markets in India and foreign jurisdictions, subject to certain conditions such as ring fencing of operations, appropriate risk management and internal controls, maintenance of records, etc.

Cycles4change Challenge

Context

• The Ministry of Housing and Urban Affairs announced the India Cycles4change stage 1 list of awardees.
• Smart Cities Mission, Ministry of Housing and Urban Affairs opens registration for India Cycles4Change Challenge.

Details

• The government has awarded 11 cities with the prestigious title of being India’s Top 11 Cycling Pioneers.
• The award marks the start of the next stage of the first season of India Cycles4Change Challenge where 107 cities across the country came together to test, learn, and scale up different cycling-friendly initiatives.
• The 11 selected cities will receive Rs 1 crore each to scale up their cycling initiatives.

About the India Cycles4Change Challenge

• The India Cycles4Change Challenge is an initiative of the Smart Cities Mission, Ministry of Housing and Urban Affairs, Government of India to inspire and support Indian cities to quickly implement cycling-friendly initiatives in response to COVID-19.
• The Challenge aims to help cities connect with their citizens as well as experts to develop a unified vision to promote cycling.
• In addition to creating extensive cycling-networks through low-cost interventions like pop-up cycle lanes and traffic-calmed or non-motorised zones, cities could launch programmes such as community-led cycle rental schemes that increase the availability of cycles to citizens and promote the usage of cycling through public events and outreach.
• In the longer term, the Smart Cities Mission encourages cities to convert temporary interventions into permanent.
• Cities are encouraged to collaborate with CSOs, experts, and volunteers as they develop and implement their plans. Citizen collaboration will also be a key metric in the evaluation of proposals submitted by the cities.
• The Challenge will run in two stages.
  • Stage One will run until October where cities will focus on piloting quick interventions to promote cycling and developing a scale-up strategy.
  • In October 2020, 11 cities will be shortlisted and will receive Rs. 1 Crore award and guidance from national and international experts to further scale-up the initiatives in Stage Two, which will be held until May 2021.
• Who can apply?
  • Cities with a population of more than 5 lakh.
  • Capital cities of states/UTs.
  • Cities under the Smart Cities Mission.
• Benefits for cities:
  • Through this challenge, cities will be able to implement quick cycling interventions with support from experts and citizens.
  • They will also receive guidance on how to create permanent interventions to encourage cycling in their city.

Project BOLD

Context: KVIC & BSF Launch Project BOLD in Jaisalmer to Prevent Desertification and Support Rural Economy.

Project BOLD – Overview

1. The project named “Bamboo Oasis on Lands in Drought” (BOLD) is the first of its kind exercise in India launched on July 4 2021 from the tribal village Nichla Mandwa in Udaipur, Rajasthan.
2. Project Bold is a unique scientific exercise serving the combined national objectives of reducing desertification and providing livelihood and multi-disciplinary rural industry. You can read in detail about DAY-NRLM National Rural Livelihood Mission on the given link. 
3. Its aim is to boost the income of the tribal people and solve environmental concerns.
4. It is aligned with Prime Minister Narendra Modi’s call for reducing land degradation and preventing desertification in the country by creating bamboo-based green patches of land in arid and semi-arid zones.
5. The project has been initiated by Khadi and Village Industries Commission (KVIC) under the Ministry of Micro, Small & Medium Enterprises.
6. It has been launched as part of KVIC’s “Khadi Bamboo Festival” to celebrate 75 years of independence “Azadi ka Amrit Mahotsav”.

BOLD – Bamboo Oasis on Lands in Droughts

1. Under the BOLD project, 5000 saplings of special bamboo species – Bambusa Tulda and Bambusa Polymorpha from Assam have been planted. You can read about Beema Bamboo in the given link. 
2. Over 16 acres of vacant arid Gram Panchayat land of village NichlaMandwa has been used for the plantation.
3. With this, KVIC also created a world record of planting the highest number of bamboo saplings on a single day at one location.
4. KVIC is set to replicate the Project at Village Dholera in Ahmedabad district in Gujarat and Leh-Ladakh region by August this year. 
5. Total 15,000 bamboo saplings will be planted before August 21.

Benefits of Project BOLD

• It will help in reducing the land degradation percentage of the country.
• It will be a haven of sustainable development and food security. Detailed information on Sustainable Development Goals – SDGs can be read here. 
• The bamboo plantation program in Udaipur will boost self-employment in the region
• It will benefit a large number of women and unemployed youths in the region by connecting them to skill development programs.
• It can provide livelihood opportunities for locals and tribal men and women in the form of handicrafts, making bamboo furniture, culinary items, paper, bags, handbags, textile, household items, to name a few.
• Economic activities from Bamboo such as construction purposes, will save locals the cost of timber, bricks, and steel. 

Reasons for choosing Bamboo for developing Green patches?

1. Bamboos are a diverse group of evergreen perennial flowering plants.
2. Bamboos are very fast-growing plants and can be harvested in about three years.
3. It is known for conserving water and reducing evaporation of water from the land surface, which is an important feature in arid and drought-prone regions.
4. Bamboo can be used to control pollution by making use of bamboo charcoal, which has absorption properties.
5. It devours high amounts of nitrogen and this helps decrease water pollution.

Status of Bamboo In India 

• Bamboos are tall treelike grasses.
• Earlier, the definition of tree in the law included palm, bamboo, brushwood and cane. With an amendment in 2017 in the Indian Forest Act 1927, the Bamboo has ceased to be a tree anymore.
• Bamboo grown in the forest areas would continue to be governed by the provisions of the Indian Forest Act.
• The move aims to promote cultivation of bamboo in non-forest areas to achieve the “twin objectives” of increasing the income of farmers and also increasing the green cover of the country.

Other Initiatives by Government to Fight Desertification

1. The Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) was introduced with a vision of expanding irrigation coverage (Har Khet ko Pani) and using the water more efficiently (More Crop Per Drop). This scheme will provide an end-to-end solution on source creation, distribution, management, field application, and other extension activities.
2. The Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at providing support for the sustainable production of yield in the agricultural sector. 
3. Soil Health Card Scheme – It is a field-specific detailed report of soil fertility status and other important soil parameters that affect crop productivity.
4. India is a party to the UNCBD. India ratified the United Nation Convention on Biological Diversity in 1994. 
5. India ratified the United Nations Convention to Combat Desertification in December 1996. The nodal ministry for the convention in India is the Ministry of Environment, Forest and Climate Change.

Juvenile Justice (Care and Protection of Children) Amendment Bill, 2021

Context: Parliament Passes Juvenile Justice (Care and Protection of Children) Amendment Bill 2021.

Details

• The Rajya Sabha has passed the amendment bill. It was earlier passed by the lower house in March 2021.
• The Bill seeks to amend the Juvenile Justice Act, 2015.

What are the changes to the Act being brought about?

• The amendments include authorizing District Magistrate including Additional District Magistrate to issue adoption orders under Section 61 of the JJ Act, in order to ensure speedy disposal of cases and enhance accountability.
• The District Magistrates have been further empowered to ensure its smooth implementation, as well as garner synergized efforts in favour of children in distress conditions.
• As per the amended provisions of the Act, any Child Care Institution shall be registered after considering the recommendations of the District Magistrate.
  • The DM shall independently evaluate the functioning of District Child Protection Units, Child Welfare Committees, Juvenile Justice Boards, Specialized Juvenile Police Units, Child Care Institutions, etc.
• The eligibility parameters for appointment of Child Welfare Committee (CWC) members have been redefined. Disqualification criteria for the same have also been introduced.
• It has been decided that offences where the maximum sentence is more than 7 years imprisonment but no minimum sentence has been prescribed or minimum sentence of less than 7 years is provided, shall be treated as serious offences within this Act.