18 FEB 2024 Daily Current Affairs for UPSC CDS, CAPF, NDA & SSB

1. What is Interpol’s Red Corner Notice?

The Central Bureau of Investigation (CBI) recently said it has brought back an absconding life convict, against whom there was a Red Corner Notice (RCN) in a murder case.

About Interpol’s Red Corner Notice:

Criminals or suspects often flee a country to evade facing justice.
A Red Corner Notice, also called a Red Notice (RN), is a request to law enforcement worldwide to locate and provisionally arrest such fugitives.
It alerts the police forces across the world about these fugitives who are wanted internationally.
A red notice contains information that helps identify the wanted person, including name, date of birth, nationality, and physical attributes like colour of hair, eyes, etc., along with pictures and biometric information.
It also includes information about the crimes that they are wanted for.
Interpol issues an RN at the request of a member country.
The country which issues the request need not be the home country of the fugitive.
Interpol acts at the request of the country where the alleged crime is committed.
An RN request can also be raised by International Criminal courts and Tribunals.
It is not an international arrest warrant. It is a request to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
Interpol cannot compel the law enforcement authorities in any of the countries to arrest someone who has an RN issued. Each member country determines on the legal value it gives to an RN.

Key Facts about Interpol:

The International Criminal Police Organization (ICPO), commonly known as Interpol, is an intergovernmental organisation that facilitates international police cooperation to control crime.
It has 195 member countries, with its headquarters in Lyon, France.
Each of the member countries has an Interpol National Central Bureau (NCB).
- They facilitate the respective country’s national law enforcement with other countries and with the General Secretariat, which is Interpol’s body that coordinates its policing and administrative activities.
- CBI represents Interpol in India as the country's NCB.'
Interpol helps coordinate police networks & experts in different crime areas to control crime.
All the member countries are connected through Interpol’s communication system, called I-24/7.
- This secure network is used by member countries to contact each other and allows them to access Interpol’s databases.
Interpol manages 19 databases, which include information on varied crimes and criminals and are available in real-time to countries.
It offers investigative support, including forensic analysis, locating fugitives across the world, etc.

Source : Absconding murder convict with Interpol Red Notice brought back from UAE: CBI

2. SOFIA (Stratospheric Observatory for Infrared Astronomy)

Scientists recently detected water molecules on the surface of two asteroids for the first time ever, using the data from NASA's now-retired SOFIA airborne observatory.

About SOFIA (Stratospheric Observatory for Infrared Astronomy):

SOFIA was a telescope mounted on a Boeing 747 SP aircraft that studied infrared light, essentially heat, emitted by objects in the universe.
SOFIA was operated jointly by NASA and the German space agency.
It is the world's largest airborne astronomical observatory, complementing NASA’s space telescopes as well as major Earth-based telescopes.
The observatory, fitted with an 8.9-foot-wide (2.7 metre) telescope with a nearly 20-ton mirror, used a door in the side of the aircraft to peer at the sky.
Flying into the stratosphere at 38,000-45,000 feet put SOFIA above 99 percent of Earth’s infrared-blocking atmosphere, allowing astronomers to study the solar system and beyond in ways that are not possible with ground-based telescopes.
SOFIA could observe the universe in the widest range of infrared light.
The aeroplane is capable of ten-hour flights, with flight paths chosen to keep ahead of the sunrise and maximise the amount of darkness.
The observatory’s mobility allowed researchers to observe from almost anywhere in the world and enabled studies of transient events that often take place over oceans, where there are no telescopes.
- For example, astronomers on SOFIA studied eclipse-like events of Pluto, Saturn’s moon Titan, and Kuiper Belt Object MU69, the next flyby target for NASA’s New Horizons spacecraft, to study the objects’ atmospheres and surroundings.
The SOFIA project prematurely ended in 2022 after operating for 12 years.

Source : Water detected on the surface of an asteroid for the 1st time ever

3. Key Facts about the Kosi River

At least 100 people living in miserable conditions within Kosi River embankments walked 250 kilometres in 12 days to reach Patna to press for their long-standing demand for rehabilitation.

About Kosi River:

It is a transboundary river which flows through China, Nepal, and India.
It is a prominent tributary of the Ganges.
Origin: The river Kosi is formed by the confluence of three streams, namely the Sun Kosi, the Arun Kosi, and the Tamur Kosi, all of which have their origin in the Himalayan region of Nepal and Tibet.
Course:
- About 30 miles (48 km) north of the Indian-Nepalese frontier, the Kosi is joined by several major tributaries and breaks southward through the Siwalik Hillsat the narrow Chatra Gorge.
- The river then emerges on the great plain of northern India in Bihar state on its way to the Ganges River, which it enters south of Purnea after a course of about 450 miles (724 km).
The Kosi drains an area of 74,500 sq. km, of which only 11,070 sq. km lie within Indian Territory.
The Kosi River valley is bounded by steep margins that disconnect it from the Yarlung Zangbo River to the north, the Mahananda River to the east, the Gandaki to the west, and the Ganga to the south.
It is well known for its tendency to change course generally in the westward direction. During the last 200 years, the river has shifted westwards for a distance of about 112 km and has laid waste large tracts of agricultural land.
Kosi is known as the "sorrow of Bihar", as it has caused widespread human suffering in the past due to flooding and very frequent changes in course when it flows from Nepal to Bihar.
Tributaries: It has seven major tributaries: Sun Koshi, Tama Koshi or Tamba Koshi, Dudh Koshi, Indravati, Likhu, Arun, and Tamore or Tamar.

Source : Bihar: Families Affected by Kosi River Floods March 12 Days to Patna to Lodge Protest

4. What is the Cash Reserve Ratio (CRR)?

The State Bank of India (SBI) has requested the Reserve Bank of India (RBI) for a lower cash reserve ratio (CRR) on green deposits raised from customers.

About Cash Reserve Ratio (CRR):

Under CRR, commercial banks have to hold a certain minimum amount of deposits as reserves with the RBI.
The percentage of cash required to be kept in reserves against the bank's total deposits is called the CRR.
The RBI decides the amount and is kept with them for financial security.
The bank cannot use this amount for lending and investment purposes and does not get any interest from the RBI.
The CRR applies to scheduled commercial banks, while regional rural banks and NBFCs are excluded.
The following are the critical objectives of the CRR:
- CRR helps control inflation. In a high-inflation environment, the RBI can increase CRR to prevent banks from lending more.
- CRR also ensures banks have a minimum amount of funds readily available to customers, even during huge demand.
- CRR serves as the reference rate for loans. Also known as the base rate for loans, banks cannot offer loans below this rate.
- Since the CRR regulates the money supply, it boosts the economy whenever required by lowering the CRR.
How is the CRR Calculated?
- There is no CRR formula. In technical terms, CRR is calculated as a percentage of Net Demand and Time Liabilities (NDTL).
- NDTL for banking refers to the aggregate savings account, current account, and fixed deposit balances held by a bank.
In case a bank fails to maintain its CRR, it will have to pay fines to the RBI because of that default. The fine is charged for the shortfall.

Source : SBI seeking lower CRR on green deposits says chairman Dinesh Khara

5. What is Anti-Dumping Duty?

India has initiated an anti-dumping probe into imports of certain solar glass from China and Vietnam, following a complaint by domestic players.

About Anti-Dumping Duty:

Anti-dumping duty is a tariff imposed on imports manufactured in foreign countries that are priced below the fair market value of similar goods in the domestic market.
The government imposes anti-dumping duty on foreign imports when it believes that the goods are being “dumped” – through low pricing – in the domestic market.
Anti-dumping duty is imposed to protect local businesses and markets from unfair competition by foreign imports.
Thus, the purpose of anti-dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade.
The use of anti-dumping measures as an instrument of fair competition is permitted by the World Trade Organization (WTO).
- The WTO allows the government of the affected country to take legal action against the dumping country as long as there is evidence of genuine material injury to industries in the domestic market.
- The government must show that dumping took place, the extent of the dumping in terms of costs, and the injury or threat to cause injury to the domestic market.
While the intention of anti-dumping duties is to protect local businesses and markets, these tariffs can also lead to higher prices for domestic consumers.

What is Countervailing duty (CVD)?

It is a specific form of duty that the government imposes to protect domestic producers by countering the negative impact of import subsidies.
CVD is thus an import tax by the importing country on imported products.
Why is CVD imposed?
- Foreign governments sometimes provide subsidies to their producers to make their products cheaper and boost their demand in other countries.
- To avoid flooding the market in the importing country with these goods, the government of the importing country imposes CVD, charging a specific amount on the import of such goods.
The duty nullifies and eliminates the price advantage enjoyed by an imported product.
The WTO permits the imposition of CVD by its member countries.

Countervailing duty v/s Anti-dumping duty:

Anti-dumping duty is imposed to prevent low-priced foreign goods from damaging the local market. On the other hand, CVD will apply to foreign products that have enjoyed government subsidies, which eventually leads to very low prices.
While the Anti-dumping duty amount depends on the margin of dumping, the CVD amount will completely depend on the subsidy value of the foreign goods.

Source : India initiates anti-dumping probe into imports of solar glass from China, Vietnam

6. What is APEDA?

The Union minister of state for commerce and industry addressed a gathering of farmers and Agri-produce buyers in the ‘Agri-Export: Capacity Building Cum Buyer-Seller Meet’ organised by APEDA in Mirzapur.

About APEDA:

The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act, 1985.
This Authority replaced the Processed Food Export Promotion Council (PFEPC).
The Authority with its headquarters at New Delhi, is headed by a Chairman.
In order to reach out to the exporters in different parts of the Country, APEDA has set up 15 Regional Offices in different cities like- Mumbai, Bengaluru, Kolkata etc.
Functions: The following functions have been assigned to the Authority:
- Registration of persons as exporters of the scheduled products on payment of such fees as may be prescribed;
- Fixing of standards and specifications for the scheduled products for the purpose of exports;
- Improving of packaging of the Scheduled products;
- Improving marketing of the Scheduled products outside India;
- Promotion of export-oriented production and development of the Scheduled products;
- Training in various aspects of the industries connected with the scheduled products;
APEDA also functions as the Secretariat to the National Accreditation Board (NAB) for the implementation of accreditation of the Certification Bodies under the National Programme for Organic Production (NPOP) for Organic exports.
Ministry: Ministry of Commerce and Trade.

Source : Centre committed to increase farmers’ income: Minister

7. INSAT-3DS

According to ISRO, The countdown for the launch of the INSAT-3DS meteorological satellite onboard a Geosynchronous Launch Vehicle has commenced.

About INSAT-3DS:

INSAT-3DS Satellite is a follow-on mission of Third Generation Meteorological Satellite from Geostationary Orbit.
- Presently, meteorologists make extensive use of data generated by satellites like the INSAT-3D and INSAT-3DR (launched in September 2016, still operational).
It is fully funded by the Ministry of Earth Sciences (MoES).
The primary objectives of the mission are:
- To monitor Earth’s surface, carry out Oceanic observations and its environment in various spectral channels of meteorological importance.
- To provide the vertical profile of various meteorological parameters of the Atmosphere.
- To provide the Data Collection and Data Dissemination capabilities from the Data Collection Platforms (DCPs).
- To provide Satellite Aided Search and Rescue services.
Weight: 2,274 kg.
Orbit: Geosynchronous Transfer Orbit (GTO).
It will be launched by using the Geosynchronous Launch Vehicle (GSLV-F14).

What is GSLV-F14?

It is a more advanced rocket utilising liquid propellant.
It is a three-stage 51.7 m long launch vehicle having a liftoff mass of 420 tonnes.
The third stage (GS3) is a cryogenic stage with a 15-ton propellant loading of liquid oxygen (LOX) and liquid hydrogen (LH2).

Source : ISRO to Launch Weather Monitoring Satellite INSAT-3DS Today

8. New crustacean Species

Researchers at Odisha’s Berhampur University recently found a new crustacean in Odisha’s Chilika lagoon.

About the New Crustacean Species:

It is a new species of marine amphipod-a shrimp-like crustacea of genus Parhyale.
This genus is represented by 15 species globally, occupying both marine and brackish water environments.
Features:
- It is brown in colour and around eight mm in length.
- It has 13 pairs of legs. The first pair of legs is used for capturing prey and feeding.
- It differs from all other 15 species by having a stout robust seta -a spine-like structure on the surface of the propodus of the male gnathopod (first pair of legs).

What are Amphipods?

Amphipods are any member of the invertebrate order Amphipoda (class Crustacea) inhabiting all parts of the sea, lakes, rivers, sand beaches, caves, and moist (warm) habitats on many tropical islands.
Amphipods are a significant group in the marine ecosystem and play a vital role in the marine food chain.
They range in size from a millimetre in length to the supergiant amphipod Alicella gigantea at 340 mm.
They can be found in all marine habitats (even the deepest ocean trenches, e.g., Hirondellea dubia), and have also colonised freshwater and terrestrial habitats.
The generic diversity of amphipods is apparently higher in cold waters than in warm ones.
They are important food for many fish, invertebrates, penguins, shore birds, small cetaceans, and pinnipeds.
Most amphipods are active swimmers, propelled by three pairs of abdominal appendages.
They also serve as indicators for studying the impact of climate change and the health of coastal ecosystems.

Source : Researchers find new crustacean in Odisha’s Chilika Lagoon

9. Income Tax Appellate Tribunal (ITAT)

Recently, the I.T. department froze Congress bank accounts over 2018-19 returns but the appellate tribunal provided partial relief.

About Income Tax Appellate Tribunal (ITAT):

ITAT is a quasi-judicial institution set up in January 1941.
It specialises in dealing with appeals under the Direct Taxes Acts.
Functions:
- It hears income tax appeals from taxpayers against orders passed by the Income Tax Authorities.
- The orders passed by the ITAT are final, an appeal lies to the High Court only if a substantial question of law arises for determination.
Benches:
- Presently ITAT has 63 Benches in 27 different states covering almost all the cities having a seat of the High Court.
- Strength: One President, who is assisted by ten (10) Zonal Vice Presidents and 115 Members (i.e. Accountant Members and Judicial Members).
- The ITAT is headed by a President, who is appointed by the Central Government.
Monetary Limits set by the CBDT are the following:
- Before the ITAT – Rs 50 lakh.
- Before the High Court – Rs 1 crore.
- Before the Supreme Court – Rs 2 crore.
ITAT is referred to as the 'Mother Tribunal' being the oldest tribunal in the country.

Source : Congress gets tax tribunal relief after bank accounts 'frozen' by I-T department claim

10. PM-SVANidhi

Recently, the Union Minister of Housing and Urban Affairs Minister disbursed loans to 10,000 beneficiaries of the PM SVANidhi scheme.

About the PM SVANidhi Scheme:

The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched on June 01, 2020, for providing affordable Working Capital loans to street vendors to resume their livelihoods that have been adversely affected due to the Covid-19 lockdown.
Time duration: Initially it was until March 2022. After that, it has been extended till December 2024.
Eligibility: The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.
Benefits: A micro-credit scheme, facilitating a working capital collateral-free loan of Rs. 10,000, with subsequent loans of Rs. 20,000 and 50,000 with 7% interest subsidy.
Implementation agency: Small Industries Development Bank of India (SIDBI).
Ministry: Ministry of Housing and Urban Affairs.

Source : PM SVANidhi restores the dignity of street vendors: Housing Minister Hardeep S Puri

18 FEB 2024 Daily Current Affairs for UPSC CDS, CAPF, NDA & SSB

YOU MIGHT ALSO LIKE

17 FEB 2024 Daily Current Affairs for UPSC CDS, CAPF, NDA & SSB

19 FEB 2024 Daily Current Affairs for UPSC CDS, CAPF, NDA & SSB

Categories

Latest Affair