News In Short – 29-08-2024

Axis of Resistance

Syllabus: GS2/ International Relations

Context

• The Axis of Resistance was in the news after the assassination of Hamas political leader Ismail Haniyeh and Hezbollah commander Fuad Shukr.

Axis of Resistance

• It is a coalition of Iranian-backed groups describing  themselves as the “Axis of Resistance” to Israel and U.S. influence in the Middle East.
• The Palestinian Islamic Jihad (PIJ), Hezbollah, Hamas, and the Houthis are some of the major groups in  the alliance.

How was the coalition formed?

• The roots of the ‘axis of resistance’ go back to the Iranian Revolution of 1979, which paved the way for radical Shia Muslim clerics to come to power. 
• To expand its political and military influence in a region where most powers (such as US-ally Saudi Arabia) are Sunni-majority nations, Iran’s new regime began to support non-state actors. 
• Another reason for this was to deter threats from Israel and the US as Iran has seen Israel’s creation in 1948 as a means for the US (and the West) to influence the region for its strategic interests.

Source: IE

India and Russia Working Plan to Handle Emergencies

Syllabus: GS 2/IR 

In News 

• Second meeting of the Joint Russian-Indian Commission on Emergency Management held in Moscow.

Working plan of the Joint Russian-Indian Commission 

• India and Russia signed the working plan of the Joint Russian-Indian Commission on the Cooperation in the Field of Emergency Management for 2025-2026 .
• The meeting is significant to draw a strategy for executing the previous agreements between India and Russia, such as, Inter-Governmental Agreement (IGA) for cooperation in the field of Emergency Management in December, 2010 and Regulation to establish the Indo-Russian Joint Commission for Cooperation (2013) in prevention and elimination of consequences of emergency situations.
• Both the countries agreed to exchange best practices in the field of Disaster Management.
• Discussion Points: Space monitoring technologies for risk forecasting and emergency response.
  • Exchange of experiences in responding to large-scale disasters.
  • Cooperation in training fire and rescue specialists.
• Objectives:Enhance early warning systems.
  • Build mutual capacity in emergency preparedness and response.
  • Align with the Sendai Framework and India’s disaster risk reduction agenda
• Future Actions: Intensify joint efforts in emergency management.
  • Exchange best practices in disaster management and training.
  • Extend cooperation between educational and research institutions.
  • Next meeting will be held in India in 2026.

Source : TH 

44th PRAGATI Interaction

Syllabus: GS 2/ Governance 

In News 

• Prime Minister Modi chaired the 44th PRAGATI meeting, focusing on project reviews and governance.

Projects Reviewed: 

• Seven significant projects were discussed, including road, rail, coal, power, and water resources, totaling over Rs. 76,500 crore.
  • Projects affect 11 States and UTs: Uttar Pradesh, Uttarakhand, Jharkhand, Maharashtra, Rajasthan, Gujarat, Odisha, Goa, Karnataka, Chhattisgarh, and Delhi.

PRAGATI

• It is the ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation.
• It is  a multi-purpose platform for addressing grievances and monitoring government projects.
• It is a three-tier system (PMO, Union Government Secretaries, and Chief Secretaries of the States);
• Purpose: Aims to enhance governance efficiency and responsiveness, integrating Digital data management, video-conferencing, and geo-spatial technology

Source :PIB 

UPI Block Mechanism Facility for Secondary Market Trading

Syllabus: GS3/Economy

Context

• Recently, Securities and Exchange Board of India (SEBI) proposed mandatory Unified Payments Interface (UPI) block mechanism facility for secondary market trading.

What’s the UPI Block Mechanism?

• The UPI block mechanism is akin to the Application Supported by Blocked Amount (ASBA) facility that allows trading with blocked amounts. 
• In the primary market, it ensures that an investor’s money moves only when the allotment is completed.
• Now, SEBI wants to extend this concept to the secondary market.
• SEBI is also exploring an alternative: a “3-in-1 trading account facility”. This could potentially replace the mandatory ASBA-like facility.
• It combines a savings bank account, a demat account (for holding securities), and a trading account.

Why the UPI Block Mechanism?

• By integrating UPI with the secondary markets, clients can block funds in their bank accounts specifically for trading in the secondary market. 
• Instead of transferring these funds upfront to the trading member, they remain securely blocked until needed.
• It enhances the protection of cash collateral.

Who are these Qualified Stock Brokers (QSBs)?

• QSBs are trading members who meet certain criteria which include factors like the size and scale of their operations, the number of active clients, total assets held by clients, end-of-day margin, and trading volume.
• Being designated as a QSB comes with enhanced responsibilities and obligations.

About SEBI – It was constituted as a non-statutory body through a resolution of the Government of India, and established as a statutory body in the year 1992 and the provisions of the Securities and Exchange Board of India Act, 1992. Functions – To protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto. Unified Payments Interface (UPI) – It is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.  – It was developed by National Payments Corporation of India (NPCI) in 2016. – Participants in UPI: Payer Payment Service Provider (PSP), Payee PSP, Remitter Bank, Beneficiary Bank, NPCI, Bank Account holders, and Merchants.

Source: BL

Green Shoots

Syllabus: GS3/Economy

Context

• Auto markets will see green shoots by October as per the Maruti Suzuki.

About

• “Green Shoots” is a term generally applied to signs of recovery from an economic recession.
• The phrase derives from the green shoots seen in plants that signify health and growth.
• The term was first used by UK chancellor Norman Lamont to refer to economic growth during the economic downturn in the United Kingdom in 1991.

Source: TH

Expansion of ‘Agriculture Infrastructure Fund’

Syllabus: GS3/Agriculture

Context

• Recently, the Union Cabinet expanded the scope of the Agricultural Infrastructure Fund (AIF).

About the Agricultural Infrastructure Fund (AIF)

• It was launched in 2020 with the primary objective of strengthening post-harvest infrastructure—a critical link in the agricultural supply chain.
• It focuses on creating essential facilities that enhance productivity, sustainability, and overall efficiency in the agricultural sector.

Key Features of AIF

• Credit Scheme at Subsidised Interest Rate: Under this scheme, eligible beneficiaries can access funds for creating various infrastructure assets related to farming.
  • These assets include warehouses, cold storage facilities, and more.
• Expanding Eligibility: The recent expansion of the AIF allows all eligible beneficiaries to participate in creating infrastructure assets covered under ‘viable projects for building community farming assets’.
  • It aims to enhance community farming capabilities and improve overall productivity in the sector.
• Integrated Primary-Secondary Processing Projects: The AIF now permits credit for ‘integrated primary-secondary processing projects’. However, standalone secondary projects are not eligible for AIF credit.
• Convergence of PM-KUSUM with AIF: It aims to further support farmers, farmer producer organisations (FPOs), and cooperatives.
• Credit Guarantee Options: In addition to the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), the AIF now extends credit guarantee coverage to FPOs through the NABSanrakshan Trustee Company.
  • It enhances financial security and encourages investments in agricultural infrastructure projects.

Impact and Achievements

• Since its inception, the AIF has been instrumental in supporting the creation of 6,623 warehouses, 688 cold storage facilities, and 21 silos across the country.
• These projects have resulted in an additional storage capacity of about 500 lakh tonnes (lt), including 465 lt of dry storage and 35 lt of cold storage.
• Its increased storage capacity can save approximately 18.6 lt of food grains and 3.44 lt of horticulture produce annually.

Investment and Mobilisation

• A total of ₹47,575 crore has been sanctioned for 74,508 projects under the AIF.
• These sanctioned projects have mobilised an impressive investment of ₹78,596 crore in the agriculture sector, with a significant contribution from private entities.

Source: TH

ISRO Designed Humanoid Skull

Syllabus: GS3/ Science and Technology

Context

• Recently Indian Space Research Organisation (ISRO) has designed the skull of the female half humanoid, Vyomitra.

Background

• The Indian Space Research Organisation’s (ISRO’s) uncrewed Gaganyaan mission in 2025 will carry the Vyomitra. 
• The Gaganyaan project will launch a crew of 3 members to an orbit of 400 km for a 3-day mission and bring them back safely to earth, by landing in seawater. 

What are humanoids?

• Humanoids are robotic systems designed to resemble humans and function autonomously in space.
• Robotic systems are used to assist astronauts in performing repetitive and/or dangerous tasks in space, like cleaning of solar panels or fixing faulty equipment located outside the spacecraft. 

Design of the humanoid skull 

• It has been made using an aluminum alloy (AlSi10Mg) known for its high flexibility, light weight, heat resistance, and mechanical properties.
  • It weighs 800 grams and measures 200mm x 220 mm.
• Vyommitra will resemble the upper body of a human and will include movable arms, a face, and a neck. 

Source: IE

Solar Paraboloid Technology

Syllabus: GS3/Science and Technology

Context

• As the world grapples with the urgent need to transition to renewable energy, solar paraboloid technology is emerging as a potentially transformative solution.

Solar Paraboloid Technology

• Solar paraboloids operate using a Parabolic Trough Collector (PTC) system.
  • These systems consist of long, parabolic mirrors that focus sunlight onto a receiver tube placed at the focal line of the mirror. 
• The concentrated solar energy heats a fluid within the receiver, which can then be used to generate electricity or provide direct heat for industrial processes. 
• This design offers several advantages over traditional PV panels, which convert sunlight directly into electricity using semiconductors.
• Benefits: One of the key benefits of solar paraboloid technology is its ability to operate at higher temperatures, up to 300°C, which significantly increases thermal efficiency. 
  • Solar paraboloids are highly efficient in concentrating solar energy, which means that more electricity can be generated from the same amount of sunlight. 
  • This efficiency could lead to lower costs per unit of electricity produced, making solar energy more competitive with traditional fossil fuels. 
• Challenges: The technology requires precise construction, specialized materials, and complex tracking systems, all of which contribute to higher upfront costs. 

Source: ET

Blue Origin

Syllabus: GS 3/ Science and Tech

Context

• Jeff Bezos’ aerospace venture Blue Origin is set to launch its eighth tourist mission to suborbital space using the New Shepard rocket.

About

• The flight will carry six people for an 11-minute ride above the Karman line (the internationally recognised boundary of space), marking another key milestone for Blue Origin, which has already taken 37 people into space.
• Additionally, Blue Origin is also cooperating with NASA on the ESCAPADE (Escape and Plasma Acceleration and Dynamics Explorers) mission, which will investigate the interaction of solar wind and Mars’ magnetosphere. This mission will launch on Blue Origin’s reusable New Glenn rocket in October 2024.

Source: AIR