Topic 1 : Exercise VINBAX-2023
Why in news: The Indian Armed Forces contingent reached Hanoi, Vietnam to take part in the fourth edition of Joint Military Exercise VINBAX-2023.
Key details:
- The exercise will be conducted at Hanoi, Vietnam.
- Exercise VINBAX was instituted in 2018
- The first edition was conducted at Jabalpur, Madhya Pradesh.
- It is an annual training event conducted alternatively in India and Vietnam.
- Aim:
- foster collaborative partnership,
- promote inter- operability and
- share best practices between the two sides
- The Exercise will culminate with a Validation Exercise, wherein standards attained by both contingents will be showcased.Topic 2 : Pakadwa Vivah
Why in news: A man in Bihar was allegedly kidnapped from his place of work and forcibly married at gunpoint recently, popularly known as pakadwa vivah.
About Pakadwa vivah:
- Pakadwa vivah involves marriage of a groom by abduction.
- Young and employed men are abducted and forced to marry women whose families cannot afford dowry.
- It is a decades-old social evil that is also against the law.
- According to State Crime Records Bureau, 7,194 forced marriage cases were reported in the State from January to November in 2020.
- Records for 2021, 2022, and 2023 are unavailable.
Factors that lead to such marriages:
- Bihar’s per capita income for 2021-22 was ₹54,383, against the national average of ₹1,50,007.
- It is hard for many to afford the dowry demanded.
- Bachelors, mostly in their 20s, and considered eligible in Bihar, can ‘command’ dowry of up to ₹25 lakh.
- The higher the caste and the better the job, the more the dowry.
- Bihar has the lowest literacy rate in India with 61.8% compared to the national literacy rate of 74.04%.
- A large number of such cases go unreported for fear of violence and societal pressure.
Topic 3 : Project ARTHA Ganga
Why in news: Minister of State for Jal Shakti informed Rajya Sabha about Project Artha Ganga.
About Project Artha Ganga:
- Arth Ganga is an initiative added recently to the Namami Ganga Program launched by the Government in 2014.
- Arth Ganga is a sustainable and viable economic development model to strengthen the river-people connect through an economic bridge.
- It was added as a vertical of Namami Ganga Program, in addition to the 4 verticals:
- Nirmal Ganga,
- Aviral Ganga,
- Jan Ganga and
- Gyan Ganga.
- Six pillars of Arth-Ganga are:
- Promotion of Zero Budget Natural Framing on 5 kms band either side of River Ganga;
- Monetisation and reuse of Treated water and sludge from the STPs;
- Improvement of Livelihood opportunities, particularly for women;
- Promotion of Tourism and Cultural heritage;
- People’s Participation and Building of capacities and institutions.
- The long-term objective of Arth Ganga is to link people and Ganga through the economic bridge in line with river rejuvenation, by garnering people’s participation for Ganga conservation and promoting sustainable development.Namami Gange Program
- The “Namami Gange” programme was launched to integrate the efforts to clean and protect the Ganga River in a comprehensive manner.
- The program is being implemented by the National Mission for Clean Ganga, and State Program Management Groups.
- In order to implement “Namami Gange” Programme, a three-tier mechanism has been proposed for project monitoring comprising of:
- A high-level task force chaired by Cabinet Secretary assisted by National Mission for Clean Ganga at the national level,
- State level committee chaired by Chief Secretary assisted by State Programme Management Group at the state level and
- District level committee chaired by the District Magistrate.
- Namami Gange will focus on pollution abatement interventions.
- Salient Features:
- It will cover 8 states.
- Several ministries are working with nodal Water Resources Ministry for this project includes –
- Environment, Urban Development, Shipping, Tourism and Rural Development Ministries.
- Urban Local Bodies and Panchayati Raj institutions will be involved in this project.
- Setting river-centric urban planning process to facilitate better citizen connects, through interventions at Ghats and Riverfronts.
- Development of rational agricultural practices & efficient irrigation methods.
- Ganga Knowledge Centre.Topic 4 : Report on crypto asset intermediaries
Why in news: Published recently, the international Financial Stability Board (FSB)’s latest report on crypto-asset intermediaries sought measures to enhance cross-border cooperation and information sharing among local authorities.
Key details:
- This is to effectively regulate and address gaps in multi-function crypto-asset intermediaries (MCIs) operating globally.
- Specifically referring to the FTX collapse in November 2022, it highlights potential risks associated with MCIs that combine different activities within the platform.
What are MCIs?
- The report defines MCIs as individual firms, or groups of affiliated firms that offer a range of crypto-based services, products and functions which primarily revolve around operating of the trading platform.
- Examples include Binance, Bitfinex and Coinbase.
- In the traditional financial landscape, the functions are provided by separate entities, instead of the same entity.
- This prevents conflict of interest and promotes market integrity, investor protection and financial stability.
- The primary source of revenue for these platforms are the transaction fees generated from trading-related activities, the traded security here being self-issued crypto assets.
Issues and concerns:
- Additional demand of services:
- Trades from alternative platforms may also indirectly drive additional demand for other services offered by the platform.
- These may include prepaid debit cards and lending, among other services.
- This shows that the aspirations of MCIs extend beyond just trading to becoming a one-stop shop for crypto-based services.
- FSB’s report observes that the magnitude of these revenue sources is unclear because of the limited publicly disclosed information.
- Transparency issues:
- The report observes that most MCIs are not transparent about their corporate structure.
- Further, they are privately held.
- Even if they disclose information, it is typically for a small part of their business, specific to a jurisdiction.
- Much of the available information has surfaced through press coverage, court filings and regulatory actions and not public disclosures.
- Evasion of regulation:
- The watchdog observed that MCIs failed to create a “meaningful separation” between potentially conflicting business lines, and provide clear account of transactions and activities or audit practices, among other things.
- The report suggests this could be intentional, to limit understanding of their vulnerabilities, economic models and activities to also evade regulatory oversight.
- This translates to lowered or non-existent oversight parameters for management of risk and governance frameworks.
- Poor risk management:
- Poor risk management may make it easier for insiders to engage in misconduct that magnifies MCI vulnerabilities.
- The lack of transparency could also mean that risks from lack of effective governance or lack of profitability of the business model would be hidden until the negative shocks fully materialise.
Implications:
- The report observes that, based on available evidence, the threat to global financial stability and to the real economy from the failure of an MCI is presently “limited.”
- However, recent experience about failure or closure of “crypto-asset-friendly” banks reveal the prevalence of concentrated deposit exposures to firms whose business models rely in some form on crypto assets.
- In March this year, Silvergate Bank had to wind down its operations and voluntarily liquidate.
- This was after the FTX collapse and an ensuing loss of confidence (in crypto-assets) that resulted in a ‘run-off’ (investors moving away from riskier to safer assets).
- FTX Trading Ltd (short for “Futures Exchange”), is a bankrupt company that formerly operated a fraud-ridden cryptocurrency exchange and crypto hedge fund.
- FTX crashed due to:
- mismanagement of funds,
- lack of liquidity and
- the large volume of withdrawals.Topic 5 : Global Partnership on AI Summit
Why in news: The Global Partnership on Artificial Intelligence (GPAI) Summit kickstarts recently in New Delhi.
Key details:
- India is negotiating with the 28 other member countries to arrive at a consensus on a declaration document on the proper use of AI, the guardrails for the technology and how it can be democratised.
- There will be regulatory aspects that are in line with past agreements and declarations.
- The thinking process of GPAI will be in line with global ideas.
About the Global Partnership on AI:
- It is a multi-stakeholder initiative.
- India is a founding member of GPAI, having joined the in June 2020.
- Aim:
- The initiative aims to bridge the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.
- It also brings together people involved in the fields of science, industry, and civil society, along with governments, international organisations and academia for greater international cooperation.
- The first three GPAI summits were held in Montreal, Paris and Tokyo, respectively.
- The GPAI declaration will have two aspects highlighting India’s stance around AI.
- The first is to evaluate the use of AI in sustainable agriculture, adding to the previous GPAI themes including healthcare, climate action and building a resilient society.
- The second is on collaborative AI in line with India’s Digital Public Infrastructure or DPI approach.
Global scenario around regulating AI:
- European Union:
- Recently, the European Union passed the AI Act which introduces safeguards on the use of AI, including:
- clear guardrails on its adoption by law enforcement agencies, and
- empowering to launch complaints against any perceived violations.
- tough penalties for companies breaking the rules
- The deal includes strong restrictions on:
- facial recognition technology,
- on using AI to manipulate human behaviour,
- Recently, the European Union passed the AI Act which introduces safeguards on the use of AI, including:
- United Kingdom:
- Last month, the UK hosted the AI Safety Summit where 28 major countries including the United States, China, Japan, the United Kingdom, France, and India, and the European Union agreed to sign a declaration saying global action is needed to tackle the potential risks of AI.
- The declaration incorporates an acknowledgement of the substantial risks from potential intentional misuse or unintended issues of control of frontier AI especially cybersecurity, biotechnology, and disinformation risks.
- United States:
- Before that, the United States issued an executive order aimed at safeguarding against threats posed by AI and exerting oversight over safety benchmarks used by companies to evaluate generative AI bots such as ChatGPT and Google Bard.What is digital public infrastructure (DPI)?
- DPI is a digital network that enables countries to safely and efficiently deliver economic opportunities and social services to all residents.
- DPI can be compared to roads, which form a physical network that connects people and provides access to a huge range of goods and services.
- It allows governments to support citizens more quickly and efficiently, especially during emergencies.
- It enables entrepreneurs to reach customers far and wide.
Topic 6 : The Chief Election Commissioner and Other Election Commissioners (Appointment, Conditions of Service and Term of Office) Bill, 2023
Why in news: The Rajya Sabha today passed the Chief Election Commissioner and other Election Commissioners (Appointment, Conditions of Service and Term of Office) Bill, 2023..
About the Bill:
- The Bill replaces the Election Commission (Conditions of Service of Election Commissioners and Transaction of Business) Act, 1991.
- It provides for the appointment, salary, and removal of the Chief Election Commissioner (CEC) and Election Commissioners (ECs).
- According to the provisions of the Bill, the CEC and ECs will be appointed by the President upon the recommendation of a Selection Committee.
- The Selection Committee will consistof:
- the Prime Minister,
- a Union Cabinet Minister, and
- Leader of Opposition or leader of the largest opposition party in Lok Sabha.
- This Bill also proposed giving the CEC and ECs the same salary, perks, and allowances as that of the Cabinet Secretary.
- The Constitution lays down no specific legislative process for the appointment of the CEC and ECs.
- As a result, the central government has a free hand in appointing these officials.
- The President makes the appointments on the advice of the Union Council of Ministers headed by the Prime Minister.
Criticism:
- It has been criticized for replacing the CJI in the selection committee with a Cabinet Minister which effectively means the government will at all times have the majority to ram through its choice of candidate.
- Another criticism was the apparent downgrading of the status of the ECI.
- While the salaries of a Supreme Court judge and the Cabinet Secretary are the same, there are differences in the allowances and perks.
- It is argued that the ECI currently has the status of a Supreme Court judge and can summon senior officials and even Ministers.
- If this status is changed to that of a government official, it would affect their ability to do so.Topic 7 : Unabated fossil fuels
Why in new: At this year’s COP climate summit, one phrase that took the centrestage was “unabated” fossil fuels.
Key details:
- For instance, in a new deal agreed at the meeting recently, countries recognised the need to accelerate efforts towards the phase-down of unabated coal power.
- Notably, the phrase is inextricably tied to Carbon Capture and Storage (CCS) technologies.
What are ‘unabated’ fossil fuels?
- When it comes to fossil fuels, “unabated” means doing nothing to reduce the carbon dioxide (CO2) and other greenhouse gases that are released from the burning of coal, oil, and natural gas.
- Conversely, “abated” refers to the attempts to decrease the release of polluting substances to an acceptable level.
- However, there isn’t any clarity on what this level is and how to get there.
- Moreover, there is no international or agreed-upon definition of the two phrases.
- The UN Intergovernmental Panel on Climate Change (IPCC) scientific advisory body says unabated fossil fuels are those without interventions that substantially reduce greenhouse gas emissions.
- That would mean capturing at least 90% of CO2 from power plants, or up to 80% of the methane that leaks during energy production and transport.
- Discussions around fossil fuel abatement largely revolve around CCS technologies.
- They capture emissions from power stations or industrial facilities and store them underground.
How beneficial are carbon capture and storage technologies?
- In its report, Carbon Capture, Utilisation and Storage, the International Energy Agency (IEA) said power and industrial plants that are equipped with modern CCS technologies capture around 90% of the CO2.
- However, a 2022 study by the Institute for Energy Economics and Financial Analysis (IEEFA) (a global think tank) found that most of the 13 flagship CCS projects worldwide that it analysed have either underperformed or failed entirely.
- Another analysis revealed that reliance on CCS could release an extra 86 billion tonnes of greenhouse gases into the atmosphere between 2020 and 2050.
- It added that discussions around fossil fuels abatement are creating the false impression that CCS would help limit average global temperature below 1.5 degree Celsius even when there is an expansion of fossil fuel projects.
- CCS technologies are also very expensive.
- It’s cheaper to shut down a coal plant and replace it with some combination of wind, solar and batteries in comparison to attaching a carbon capture device to the plant
Way forward:
- According to the deal struck at COP28 recently, countries need to phase-down unabated coal power.
- Many climate vulnerable nations and experts are concerned that this would allow countries and fossil fuel companies to continue to burn coal as long as they capture the emissions and store it underground.
- The false promises of ‘abated’ fossil fuels risks climate finance being funnelled to fossil projects, particularly oil and gas, and will greenwash the ‘unabatable’ emissions from their final use, which account for 90% of fossil oil and gas emissions.
