August 21, 2023 | Your One-Stop Solution for Daily Preparation
Journey of Currency in India | Explained
Delve into the intriguing journey of currency in India spanning over millennia, from the early days of barter and cowry shells to the sophisticated metal coins of empires. Discover how colonial influences, post-independence reforms, and the digital age have transformed India's monetary landscape, shaping its economic identity. Explore the shift from paper currency to cashless transactions, highlighting the nation's resilience and adaptability.
Highlights of the Day
1. Tamil Nadu CM Revives Debate on Katchatheevu Retrieval, Fishing Rights Remain Contested
The Tamil Nadu Chief Minister, M.K.Stalin, renewed the debate over Katchatheevu, a barren islet 14 nautical miles from Rameswaram. He demanded its retrieval from Sri Lanka, asserting it would end issues faced by Tamil Nadu fishermen. Stalin's letters led to released fishermen but not returned boats and nets. Katchatheevu's history dates back to the 1974 agreement between Indira Gandhi and Sirima R.D. Bandaranaike, delimiting the boundary between India and Sri Lanka. Fishing rights were restricted in 1976. The issue sparked debates, with opposition to the 1974 pact, and remained alive through Jayalalithaa and Karunanidhi. The Union government states the islet lies on the Sri Lankan side of the boundary [1].
2. RBI Launches Pilot for Public Tech Platform Enabling Seamless Digital Credit Delivery
The Reserve Bank of India (RBI) initiates a pilot program for the 'Public Tech Platform for Frictionless Credit' to facilitate seamless digital credit delivery. The platform aims to streamline credit appraisal processes by consolidating data from various entities. It addresses hindrances in timely lending due to scattered data sources. The platform intends to encompass diverse loan types, including Kisan Credit Card loans, dairy loans, MSME loans, personal loans, and home loans. It employs open APIs and standards, connecting financial players, and aims to reduce costs, hasten disbursements, and enhance credit risk management. The pilot's success will determine its expansion to more products and lenders [2].
3. Final Stages of National E-commerce Policy Reached, No More Drafts: Official
The forthcoming national e-commerce policy is in its final stages, with no further drafts being issued for stakeholder input, according to a senior government official. The policy, crafted by the commerce ministry, is a consensus among stakeholders, including e-commerce firms and traders' groups. The policy addresses cross-border data flow, data localization, counterfeit products, and export promotion, while aiming for inclusive sector growth through streamlined regulations and modern technology integration. The government is also developing consumer protection rules. The policy aims to provide a favorable environment for e-commerce growth, considering interests of various stakeholders, and aligning with FDI norms [3].
4. Tropical Storm Hilary Brings Deadly Flooding to Mexico and Flash Floods to Southern California
Tropical Storm Hilary caused deadly flooding in Mexico's Baja California Peninsula before moving over Southern California, resulting in flash floods, mudslides, and downed trees. It's the first tropical storm to hit Southern California in 84 years, with fears of flooding extending to Idaho. The storm wreaked havoc in Mexico and led to evacuations and closures in the US, including school closures and shelter-in-place orders. It's the latest climate disaster amid wildfires and extreme weather. Hilary could bring once-in-a-century rains to Western states, potentially becoming the wettest known tropical cyclone for Nevada, Oregon, and Idaho [4].
5. Principal's Innovative 'Jal Sansad' Empowers Rajasthan Students in Water Conservation
Sheela Asopa, the principal of Shyam Sadan School in Rajasthan's Jodhpur district, has initiated a "jal sansad" (water parliament) to promote water conservation among students. Students conduct audits, awareness rallies, and campaigns, fix leaks, and maintain digital records. Asopa's efforts began in 2016 when she set up a rainwater harvesting system and encouraged water audits. She expanded the program to numerous schools, even cleaning unused wells and stepwells, garnering community support. In 2023, Asopa received the National Water Award from the Union Ministry of Jal Shakti, spurring her desire to further expand the initiatives [5].
Source: The Hindu | Indian Express | DownToEarth | Mint
Practice Questions for Prelims
Q1: The term "Quorum Sensing" is most commonly associated with which of the following?
a) Weather forecasting
b) Cellular respiration
c) Bacterial communication
d) DNA replication
Q2: Examine the following statements related to the "Ganges River Dolphin":
I. The Ganges River Dolphin is also known as the "Susuk" or "Shushuk" in local languages and is found in the Ganges, Brahmaputra, and Meghna river systems.
II. The Ganges River Dolphin is a freshwater dolphin species and is considered one of the most endangered dolphin species in the world.
III. The Ganges River Dolphin has poor eyesight but relies heavily on echolocation to navigate and find prey in murky river waters.
Choose the correct combination:
a) Statement I and II are true.
b) Statement I and III are true.
c) Statement II and III are true.
d) Statement I, II, and III are true.
Q3: Consider the following statements about "Ozone Layer Depletion":
I. Ozone layer depletion is primarily caused by emissions of greenhouse gases.
II. The ozone layer is located in the stratosphere and plays a crucial role in protecting life on Earth from harmful ultraviolet (UV) radiation.
III. The Montreal Protocol is an international agreement aimed at phasing out substances that deplete the ozone layer.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) None of the above
Q4: Examine the following statements about "Sustainable Development Goals (SDGs)":
I. The SDGs were adopted by the United Nations in 2015 to address global challenges and achieve a more sustainable future by 2030.
II. The SDGs consist of 17 goals with a total of 169 specific targets.
III. The SDGs are only focused on environmental sustainability and do not encompass social and economic aspects.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) None of the above
Q5: Consider the following statements about the "Right to Information (RTI) Act":
I. The RTI Act was enacted in 2005 to provide citizens with the right to access information held by public authorities.
II. The Central Information Commission (CIC) and State Information Commissions are independent bodies responsible for overseeing the implementation of the RTI Act.
III. Under the RTI Act, citizens have the right to access information related to national security and defense matters without any restrictions.
Choose the correct combination:
a) I and II
b) II and III
c) I and III
d) None of the above
Today’s Question for Mains Answer Writing
Investigate how climate change significantly affects coastal communities, considering its various impacts. Then, provide simple yet effective adaptive strategies that these communities can adopt to become more resilient and better equipped to handle the challenges brought about by the changing climate. (Word limit: 250 words)
Need help in writing or evaluation?
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