Daily Current Affairs for UPSC – 23 November 2022

Daily Current Affairs for UPSC 2022

Q) With reference to Non Performing Assets (NPA), consider the following statements:

1. The Gross NPAs of banks have dropped to their lowest level in five years.
2. The National Asset Reconstruction Company Limited (NARCL) is a government entity that cleans up all the stressed assets of commercial banks.

Select the correct answer using the code given below:

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Daily Current Affairs for UPSC – 22  November 2022

Explanation:

Statement 1 is correct: RBI’s November bulletin informed that gross non-performing assets (GNPAs) of banks have consistently declined, with net NPAs sliding down to 1% of total assets. Gross non-performing assets (NPAs) of the banking sector dropped below 6 per cent, the lowest since 2016, indicating that the sector has remained largely unscathed from the ill-effects of the Covid-19 pandemic so far

Statement 2 is incorrect: National Asset Reconstruction Company Limited (NARCL) was announced in the Union Budget 2021 for aggregation and resolution of Non-Performing Assets (NPAs) in the Banking Industry. NARCL is a government entity, with majority stake held by Public Sector Banks and balance by Private Banks with Canara Bank being the Sponsor Bank.  NARCL is created as a bad bank to house bad loans of Rs 500 crore and above, in a structure that will contain an asset reconstruction company (ARC) and an asset management company (AMC) to manage and recover bad assets. NARCL is registered with the RBI as an Asset Reconstruction Company under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

Q) With reference to Indo-Pacific Regional Dialogue (IPRD), Consider the following statements:

1. It is an annual international conference of the member countries of the East Asia Summit to discuss matters related to the maritime domain of the Indo-Pacific.
2. The Indo-Pacific Oceans Initiative was launched as a part of IPRD to make efforts for disaster risk reduction in Indo-Pacific region.

Which of the statements given above is/are not correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Explanation:

Statement 1 is incorrect: Indo-Pacific Regional Dialogue (IPRD) is a high level international annual conference of the Indian Navy. The National Maritime Foundation is Navy’s knowledge partner and chief organizer of IPRD. The dialogue seeks to foster exchange of ideas and promote deliberations on regionally relevant maritime issues.The aim of each successive edition of the IPRD is to review both opportunities and challenges that arise within the Indo-Pacific. Being a Track 1.5 event, the IPRD seeks for a balanced representation from government and non-government agencies and institutions.The aim of each successive edition of the IPRD is to review both opportunities and challenges that arise within the Indo-Pacific.

Statement 2 is incorrect: Indo-Pacific Oceans Initiative (IPOI) is an initiative of the Government of India and builds upon the “Security and Growth for All in the Region” (SAGAR) initiative announced in 2015. Launched by India on 4 November, 2019, at the East Asia Summit in Bangkok, the Indo-Pacific Oceans Initiative (IPOI), is focused on practical cooperation in seven thematic areas, such as maritime Security; maritime Ecology; maritime Resources; capacity building and resource sharing; disaster risk reduction and management etc. The IPOI is premised on the liberal theoretical vistas and endorses an open, inclusive, non-treaty-based global initiative for mitigating challenges especially in the maritime domain through practical cooperation.

Q) With reference to the phenomenon of Lake effect snow, Consider the following statements:

1. It occurs when cold, dry air passes over the warm waters of the Great Lakes in North America.
2. A temperature difference of at least 14 degrees Celsius in the air is necessary for the phenomenon to occur.
3. The direction of the wind and the orography has a profound impact on the rate of snowfall.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. 1, 2 and 3

Explanation:

Statement 1 is correct: Lake-effect Snow starts with cold, dry air from Canada. As the bitter cold air sweeps across the relatively warmer Great Lakes, it sucks up more and more moisture that falls as snow. The mechanism is influenced by the differences between the amount of heat and moisture at the lake surface and in the air a few thousand feet above it. This often happens in late fall, when lake water is still warm from summer and cold air starts sweeping down from Canada.

Statement 2 is correct: A difference of at least 25 degrees Fahrenheit (14 Celsius) or more creates an environment that can fuel heavy snows. Temperatures lower than 25 degrees can sometimes add enough energy to create thundersnow. Thundersnow can be especially intense, sometimes falling at a clip of two to three inches per hour or more.

Statement 3 is correct: The direction of the wind is also important. If the wind is blowing in a direction that covers more of the lake, the air will act like a large sponge that gulps up water from the lake and wrings it onto the land. Wind direction also determines which areas will receive lake-effect snow. Once the snow reaches land, elevation contributes an additional effect. Land that slopes up from the lake increases lift in the atmosphere, enhancing snowfall rates. This mechanism is termed “orographic effect.”

Q) With reference to Arittapatti Biodiversity Heritage Site, consider the following statements:

1. It is the first Biodiversity Heritage Site in the state of Tamil Nadu.
2. It is notified by the state government under the Wildlife Protection Act, 1972.
3. Important species found here include the endangered Slender Loris and the Indian Pangolin.

Select the correct answer using the code given below:

1. 1 and 3 only
2. 2 only
3. 2 and 3 only
4. 3 only

Explanation:

Statement 1 is correct: The Tamil Nadu government recently declared the Arittapatti village near Melur in Madurai district as a biodiversity heritage site. It is the first Biodiversity Heritage Site (BHS) to be notified in the state. The Arittapatti village is surrounded by a chain of seven barren granite hillocks that act as a watershed and support close to 72 lakes, 200 natural spring pools and three check dams. The Anaikondan Lake built during the reign of the Pandiyas in the 16th century is one among them.

Statement 2 is incorrect: The declaration has been made under the Section 37 of the Biological Diversity Act, 2002. Under Section 37 of the Biological Diversity Act, 2002, State governments, in consultation with the local bodies, can declare certain areas as biodiversity heritage sites under this Act.

Statement 3 is correct: The site houses around 250 species of birds including three important raptors – birds of prey, namely the Laggar Falcon, the Shaheen Falcon and Bonelli’s Eagle. It is also home to wildlife such as the Indian Pangolin, Slender Loris. IUCN has listed them as Endangered,The site is home to several megalithic structures, rock-cut temples, Tamil Brahmi inscriptions and Jain beds.

Q) With reference to Minorities in India, consider the following statements:

1. The Constitution of India provides a definition of minorities.
2. Currently, only six communities are identified as minorities under the 1992 National Minorities Commission Act.
3. Minorities constitute nearly one-sixth of the total population of India, with Sikhs being the second largest minority.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 only
3. 1 and 3 only
4. 1, 2 and 3

Explanation:

Statement 1 is incorrect: Expression “minorities” appears in some Articles of the Constitution, but is not defined anywhere in Constitution. Recently Petition has been filed in the Supreme Court which sought a direction to the Centre to define ‘minority’ and lay down guidelines for identification of minorities at district level, in order to protect their cultural and educational rights under Articles 29 and 30.

Statement 2 is correct: Currently, only those communities notified under section 2(c) of the National Minorities Commission Act, 1992, by the central government are regarded as minority. Thus six minorities namely: Muslims, Sikhs, Christians, Buddhists, Jain and Zoroastrians (Parsis) have been notified as minority communities.

Statement 3 is incorrect: As per the Census 2011, the percentage of minorities in the country is about 19.3% (nearly one-fifth) of the total population of the country. The population of Muslims is 14.2%; Christians 2.3%; Sikhs 1.7%, Buddhists 0.7%, Jain 0.4% and Parsis 0.006%.

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