UPSC Daily Current Affairs- 8th June 2023 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly PDF Download

GS-I

Kakhovka Dam

Why in News?

Recently, a huge Soviet-era Kakhovka dam that separates Russian and Ukrainian forces was breached and unleashed floodwaters across the war zone.

About Kakhovka Dam:

• It is located on the Dnieper or Dnipro River in southern Ukraine which was built as part of the Kakhovka hydroelectric power plant.
• The reservoir also supplies water to the Crimean Peninsula and the Zaporizhzhia nuclear plant
• Zaporizhzhia nuclear plant is Europe’s largest and gets its cooling water from the reservoir which is located on the southern side, now under Russian control.
• It holds water a volume about equal to the Great Salt Lake in the U.S.

Key facts about the Dnieper

• It is the fourth longest river in Europe.
• It runs a total length of 1,368 miles extending from the uplands of Russia’s Valdai Hills.
• It flows in a southerly direction through western Russia, Belarus, and Ukraine before emptying into the Black Sea.

Source: Indian Express

Kilauea Volcano

Why in News?

The Kilauea volcano on Hawaii’s Big Island erupted recently, according to an advisory from the U.S. Geological Survey (USGS).

About Kilauea Volcano:

• It is the youngest and most active Hawaiian shield volcano, located on the southern part of the Island of Hawai'i, known as Big Island.
• It is near-constantly erupting from vents either on its summit (caldera) or on the rift zones.
• Kilauea has a large summit caldera with a central crater, Halemaumau, which is according to Hawaiian legends the home of the fire goddess Pele.
• Until 1924, it contained a lava lake.

What is a Shield Volcano?     

• Shield volcanoes are a type of volcano that tend to erupt basalt lava, a type of lava that is very fluid when erupted. 
• Although shield volcanoes are the largest volcanoes on Earth, they do not form soaring mountains with conical peaks like composite volcanoes. Instead, they are broad volcanoes with gentle slopes.
• Eruptions at shield volcanoes are only explosive if water somehow gets into the vent, otherwise they are characterized by low-explosivity fountaining those forms cinder cones and spatter cones at the vent.
• The Hawaiian shield volcanoes are the most famous examples.

Source: Indian Express

GS-II

Why in News?

On May 29 Bola Ahmed Tinubu sworn in as Africa’s most populous nation Nigeria’s 16th Executive President, solidifying a quarter-century of unbroken constitutional democracy. Despite this achievement, Nigeria faces persistent challenges hindering the realization of its socio-economic potential. Insecurity, high unemployment, corruption, and inadequate infrastructure continue to impede progress.

What is mean by Yin-and-Yang Moment?

• The Yin-and-Yang Moment is a term used to describe a situation in which two opposing forces are in balance.
• The concept of Yin and Yang is a central one in Chinese philosophy, and it is often used to explain the natural world. In the context of the Yin-and-Yang Moment, the two opposing forces could be anything from economic growth and security challenges to social progress and political instability.
• In the context of Nigeria, this could refer to the country’s growing economy and its ongoing security challenges.

What are the persistent Challenges for Nigeria?

• Insecurity: Nigeria has long grappled with various security challenges, including Boko Haram insurgency, mass kidnappings, ethnic conflicts, and petty robberies. These security issues undermine social stability, economic growth, and investor confidence.
• High Unemployment: Nigeria faces a significant unemployment crisis, particularly among its youth population. The lack of job opportunities and underemployment contribute to social unrest, poverty, and hinder overall economic development.
• Corruption: Corruption remains a pervasive problem in Nigeria, affecting various sectors, including politics, business, and public services. Rampant corruption erodes public trust, hampers development efforts, and undermines effective governance.
• Poverty and Education Gap: Nigeria has the largest number of people living below the poverty line globally, with a significant portion being children. Access to quality education remains limited, resulting in a high number of out-of-school children, hindering their future prospects and perpetuating the cycle of poverty.
• Energy and Infrastructure Deficit: Nigeria struggles with inadequate infrastructure, particularly in the power sector. Despite efforts, the country’s power generation capacity remains insufficient to meet the demands of its growing population and economy. Insufficient infrastructure in transportation, healthcare, and other sectors further limits development opportunities.
• Oil Sector Challenges: Nigeria heavily relies on oil exports for revenue, but the sector faces numerous challenges. Oil theft, bunkering, and operational inefficiencies in refineries contribute to revenue loss and hinder the development of a sustainable and diversified economy.
• Governance and Political Instability: Nigeria has experienced political instability and governance challenges in the past. Effective governance, transparency, and accountability are crucial for addressing socio-economic issues and fostering sustainable development.

Proposed Solutions to address these challenges

• Enhancing Security: Implement comprehensive security measures to address the various security challenges Nigeria faces. This includes strengthening law enforcement agencies, improving intelligence gathering and sharing, enhancing border control, and investing in counter-terrorism efforts.
• Job Creation and Economic Growth: Promote an enabling business environment to stimulate economic growth and job creation. This involves reducing bureaucratic hurdles, providing incentives for entrepreneurship, and fostering a conducive environment for local and foreign investments.
• Anti-Corruption Measures: Implement robust anti-corruption initiatives to tackle corruption at all levels of society. Whistleblower protection mechanisms can encourage reporting of corruption and help in its prevention.
• Education and Poverty Alleviation: Prioritize investments in education and skills development, ensuring access to quality education for all children. Addressing the education gap and reducing the number of out-of-school children will improve human capital development and empower individuals to break the cycle of poverty.
• Infrastructure Development: Invest in critical infrastructure, including power generation, transportation networks, healthcare facilities, and water and sanitation systems. Public-private partnerships can mobilize resources and expertise to bridge infrastructure gaps.
• Diversification of the Economy: Reduce dependence on oil exports by promoting economic diversification. Encourage sectors such as agriculture, manufacturing, tourism, and information technology to contribute significantly to the economy.
• Governance Reforms: Strengthen governance institutions, promote transparency, and ensure accountability at all levels of government. Enhance public service delivery, streamline bureaucratic processes, and foster citizen participation in decision-making. Strengthening democratic institutions and the rule of law will contribute to stability, effective governance, and socio-economic development.

Key aspects of India’s stake in Nigeria

• Economic Partnership: India and Nigeria have a strong economic partnership. Nigeria has traditionally been one of India’s largest trading partners in Africa. Strengthening economic ties with Nigeria provides India access to natural resources, including oil and gas, as well as opportunities for trade and investment.
• Indian Diaspora: Nigeria is home to a large Indian diaspora, with over 50,000 people of Indian origin residing in the country. The Indian community in Nigeria contributes to trade, entrepreneurship, and cultural exchanges, fostering people-to-people ties between the two nations.
• Trade and Investment: India has significant investments in Nigeria across various sectors, including telecommunications, manufacturing, agriculture, and banking. Strengthening trade relations and diversifying the bilateral trade basket can benefit both economies and create new avenues for economic cooperation.
• Technology and Expertise: Nigeria values India’s appropriate technology solutions, which are often seen as well-suited to local conditions. Indian expertise in sectors such as information technology, healthcare, agriculture, and education can contribute to Nigeria’s development efforts and capacity building.
• Defense Cooperation: Defense cooperation between India and Nigeria has a rich history. Nigeria has had several past presidents who were trained in India’s defense institutions. Reviving and enhancing defense ties can promote bilateral defense industry cooperation, training programs, and exchange of expertise in areas of mutual interest.
• Regional Influence: Nigeria’s influence extends beyond its borders, particularly within the West African region. Strengthening relations with Nigeria allows India to engage more effectively in regional initiatives, enhance trade partnerships with neighboring countries, and contribute to regional stability and development.
• Energy Security: Nigeria’s role as a major oil producer and exporter is of significance to India’s energy security. Cooperation in the energy sector, including oil exploration, refining, and renewable energy, can help diversify India’s energy sources and ensure a stable supply of energy resources.
• Multilateral Engagement: Nigeria’s active participation in regional and international organizations provides an opportunity for India and Nigeria to collaborate on issues of mutual concern, including climate change, counterterrorism, peacekeeping, and global governance reforms.

Nigeria’s global significance

• Population and Demographics: Nigeria is Africa’s most populous country and is projected to have a population of over 400 million by 2050, becoming the world’s fourth most populous country. This demographic trend has significant implications for global population dynamics, labor markets, and consumption patterns.
• Economic Powerhouse: Nigeria is the largest economy in Africa and has substantial natural resources, including oil and gas reserves. As an important player in the global energy market, fluctuations in Nigeria’s oil production and exports can impact global oil prices and energy security.
• Regional Influence: Nigeria’s size, population, and economic clout give it considerable influence within the West Africa region and across the broader African continent. Nigeria has played a pivotal role in regional peacekeeping efforts and has been involved in conflict resolution initiatives in neighboring countries.
• Counterterrorism and Security: Nigeria’s battle against Boko Haram insurgency has regional and global implications for counterterrorism efforts. Collaborative measures to address security challenges in Nigeria can contribute to regional stability and counter the spread of extremist ideologies.
• Diplomatic Relations: Nigeria is an active participant in international organizations, including the United Nations, African Union, and the Economic Community of West African States (ECOWAS). Its diplomatic engagements and foreign policies impact regional and global dynamics, particularly within Africa.
• Migration and Diaspora: Nigeria has a large diaspora spread across the globe, contributing to diverse societies and economies in various countries. Nigerian migrants play a role in trade, cultural exchanges, and remittances, which have significant global implications.
• Trade and Investment: Nigeria’s vast consumer market and emerging middle class make it an attractive destination for foreign direct investment. The country’s trade relations and economic policies impact global trade flows, particularly within Africa and with major economies like India, China, and the European Union.
• Cultural Influence: Nigeria’s vibrant and diverse cultural heritage, including its music, literature, film industry (Nollywood), and fashion, have gained international recognition and influence, contributing to global cultural exchanges and soft power.

Conclusion

• Nigeria’s recent transfer of power showcases its commitment to democracy amidst a continent known for political instability. India, with its historical ties and economic partnership, has a crucial role to play in Nigeria’s journey. By fostering enhanced engagement, India can contribute to Nigeria’s progress and strengthen bilateral relations for mutual benefits.

Source: The Hindu

Kerala Fibre Optical Network (KFON)

Why in News?

The Kerala government has officially launched the Kerala Fibre Optical Network (KFON).

• Through KFON, Kerala aims to reduce the digital divide by ensuring high speed broadband internet access to all houses and government offices.
  • Kerala was the first state to declare the right to internet as a basic right.

Kerala Fibre Optical Network (KFON)

• About
  • KFON will act as an infrastructure provider.
  • KFON is an optical fibre cable network of 30,000 kms, with 375 Points-of-Presence across Kerala.
  • The KFON infrastructure will be shared with all service providers, including cable operators.
    • While KFON will do the cable work for government offices, individual beneficiaries will have to depend on private, local internet service providers.
  • KFON promises an internet speed from 10 mbps to 10 Gbps. The quality of mobile phone calls is also expected to improve.
    • Once KFON is connected to mobile towers in Kerala, it will speed up transition to 4G and 5G.
• Aim
  • The project is aimed at ensuring universal Internet access and narrowing the digital divide, which has become especially acute after the COVID-19 outbreak.
  • For this it will create a core network infrastructure (information highway) with non-discriminatory access to all service providers.
• Stakeholders
  • KFON project is a joint venture of Kerala State Electricity Board (KSEB) and Kerala State IIT Infrastructure Limited.
  • Implementation- by a consortium led by Central PSU Bharat Electronics Limited
  • Consultant –Price Waterhouse Coopers
  • Operations and maintenance by Kerala State Information Technology Infrastructure Ltd (KSITIL)
  • System integrator - Bharat Electronics (BEL)
• Funding -The project is fully funded by Kerala Infrastructure Investment Fund Board (KIIFB), the state government agency for funding infrastructure projects.
• Beneficiaries
  • Through KFON Internet connections would be provided free of cost to 20 lakh below-poverty-line (BPL) families.
    • In the first stage of KFON, the government wants to provide connectivity to 30,000 government offices and 14,000 BPL families in the state.

What was the need for KFON?

• Existing TELCOS have only limited infrastructure in the rural areas
  • The telecom sector is dominated by private players.
  • The government is of the view that existing TELCOS have only limited infrastructure in the rural areas.
  • Their wireless connectivity infrastructure is providing only limited bandwidth.
  • Due to the low business potential in rural areas, private TELCOs are not keen to enhance connectivity infrastructure.
• Limited reach of Kerala State Wide Area Network (KSWAN)
  • KSWAN, the existing state Information Infrastructure connecting government offices, is limited to 3,800 premises.
  • Hence, the Government in 2017 decided to establish KFON, for efficient service delivery, assured Quality of Service, reliability, interoperability, and security.

Source: PIB

GS-III

Why in News?

Recommendation for DICGC cover extension: A committee suggests extending Deposit Insurance and Credit Guarantee Corporation (DICGC) cover to Prepaid Payment Instrument (PPI) holders to protect against fraud and unauthorized transactions.

• Relief for PPI holders: Acceptance of the recommendation would provide significant relief to PPI holders.

Understanding Prepaid Payment Instrument (PPI)

• Definition: PPIs are instruments facilitating various financial transactions and the purchase of goods and services.
• Types: PPIs can be categorized as small PPIs and full-KYC PPIs, issued as cards or wallets.
• Loading/reloading options: PPIs can be loaded/reloaded with cash, debit/credit cards, or bank transfers.

Issuers of PPI Instruments

• Authorized issuers: Banks and non-banks authorized by the RBI can issue PPIs.
• Examples of authorized issuers: Airtel Payments Bank, Axis Bank, Union Bank, and others are permitted to issue and operate PPIs.
• Non-bank PPI issuers: Amazon Pay (India), Bajaj Finance, Ola Financial Services, and others also offer PPI services.

RBI Committee’s Recommendations

• Call for DICGC cover examination: The committee recommends examining the extension of DICGC cover to bank and non-bank PPIs.
• Purpose of examination: Considering PPIs as deposits held with regulated PPI issuers requires further examination.

Understanding DICGC

• Role of DICGC: DICGC, a subsidiary of the RBI, provides deposit insurance.
• Protection for depositors: DICGC ensures the stability of the financial system by protecting small depositors in the event of a bank failure.
• Coverage scope: DICGC covers commercial banks, payments banks, small finance banks, regional rural banks, and cooperative banks licensed by the RBI.

DICGC Coverage and Limits

• Types of deposits covered: DICGC insures savings, fixed, current, recurring, and accrued interest deposits.
• Maximum insurance limit: Each depositor is insured up to a maximum of Rs 5 lakh for both principal and interest amounts.
• Increase in insurance cover: The insurance cover was raised to Rs 5 lakh in 2020 from the previous limit of Rs 1 lakh.

Total Number of PPIs

• PPI quantity as of March 31, 2023: The system comprised 16,185.26 lakh PPIs, including 13,384.68 lakh wallets and 2,800.58 lakh cards.
• Transaction volume in FY2023: The total volume transacted through PPIs in FY2023 reached 74,667.44 lakh.

Source: The Hindu

Pension Fund Regulatory and Development Authority (PFRDA)

Why in News?

Pension Fund Regulatory and Development Authority (PFRDA) Chairman recently said that a pension scheme with minimum assured returns is in the works by the PFRDA, which may entail higher premium payments for higher returns.

About Pension Fund Regulatory and Development Authority (PFRDA):

• It is a statutory regulatory body set up under PFRDA Act enacted in 2014.
• Objective: To promote old age income security by establishing, developing, and regulating pension funds and to protect the interests of subscribers to schemes of pension funds and related matters.
• It comes under the jurisdiction of the Ministry of Finance.
• Headquarters: New Delhi
• Composition: It consists of a Chairperson and not more than six members, of whom at least three shall be Whole-Time Members, to be appointed by the Central Government.
• Functions:
  • Regulate National Pension System (NPS) and other pension schemes to which PFRDA Act applies;
  • Establish, develop and regulate pension funds;
  • Protect the interest of pension fund subscribers;
  • Register and regulate intermediaries;
  • Laying down norms for management of corpus of pension funds;
  • Establish grievance redressal mechanism for subscribers;
  • Settle disputes among intermediaries and also between intermediaries and subscribers;
  • Train intermediaries and educate subscribers and the general public with respect to pension, retirement savings, and related issues;
  • Call for information, conduct inquiries, investigations, and audit of intermediaries and other entities connected with pension funds;

Key Facts about National Pension System (NPS):

• It is a government-sponsored pension scheme launched in January 2004 for government employees.
• It was opened to all sections in 2009.
• NPS is mandatorily applicable to Central Government employees (except Armed Forces) recruited on or after 01.01.2004.
• Under NPS, a subscriber can contribute regularly to a pension account during her working life, withdraw a part of the corpus in a lumpsum and use the remaining corpus to buy an annuity to secure a regular income after retirement.

Source: Indian Express

Kanha Tiger Reserve (KTR)

Why in News?

Recently, a 15-year-old tiger died after being found in an injured condition near the Kanha Tiger Reserve (KTR), Madhya Pradesh.

About Kanha Tiger Reserve (KTR):-

• Kanha Tiger Reserve stretches over the two districts: Mandla and Balaghat – of Madhya Pradesh.
• It is located in the central Indian highlands.
• The reserve is situated on the Maikal range, which is a part of the Satpura mountain range.
• Prominent Rivers: Banjar and the Halon Rivers.
• Kanha National Park was created in 1955.
• Kanha National Park is the largest National Park in Central India.
• It was made the Kanha Tiger Reserve in 1973. 
• It is the first tiger reserve in India to officially introduce a mascot, “Bhoorsingh the Barasingha”.
• Fauna: The State animal of Madhya Pradesh – Hard Ground Barasingha (Swamp deer or Rucervus duvaucelii) is found exclusively in Kanha Tiger Reserve.
• Protection Status of Swamp Deer:
  • IUCN Red List: Vulnerable
  • CITES: Appendix I
  • Wildlife Protection Act, 1972: Schedule I
• Other Species: Tiger, Leopard, Dhole, Bear, Gaur and Indian Python etc.
• Flora: It is best known for its evergreen Sal forests (Shorea Robusta).

Source: The Hindu