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UPSC Prelims News 17 November 2022


UPSC Prelims News of 17 November 2022


Context: The 26th edition of the multinational maritime exercise Malabar-22 completed near Japan.

More on the News:

  • This edition marked the 30th Anniversary of the exercise and was hosted by Japan Maritime Self Defense Force (JMSDF). Eastern Fleet ships Shivalik and Kamorta represented Indian Navy.
  • Indian maritime commandos (MARCOS) and a P-8I Poseidon maritime reconnaissance aircraft also participated.
  • The sea phase of the exercise involved live weapon firings, surface, anti-air and anti-submarine warfare drills and tactical procedures. Another highlight was the conduct of War at Sea exercise.
  • Apart from operational drills and exercises, the bilateral logistics support agreements between the participating nations were validated during this edition.
  • Significance: The exercise enhanced understanding of each others operational methodologies and ability to co-operate to tackle myriad maritime challenges.

Malabar Exercise:

  • Malabar began in 1992 as a bilateral exercise between the navies of India and US and gained further prominence with joining of the navies of Australia and Japan.
  • China considers the Malabar as anti-China alliance but member countries have claimed that their objective is to safeguard the global commons and implement freedom of navigation.


Liquefied Natural Gas (LNG)

Context: Russia has slashed supplies of natural gas to Europe, forcing countries to look for LNG as an alternative.

About LNG:

  • LNG is methane, or methane mixed with ethane, devoid of impurities and cooled to approximately -160°C. This converts the gas into a liquid, which takes up 600 times less space.
  • At its destination, liquid is turned back into gas and used for heating, cooking and power.
  • Producers of LNG:
    • Australia, Qatar and the US are the largest producers.
    • The US is the biggest supplier to Europe. Australia ships majority of its LNG to customers in Asia.
    • Qatar also supplies some LNG to Asia, as well as European nations such as the UK, Belgium, and Italy.
  • Features LNG:
    • LNG is colorless, odorless, non-toxic and non-corrosive.
    • LNG is not explosive and cannot ignite during its liquid stage.
    • Creation of LNG terminals are required to offload it and turn it back into gas form.
    • LNG is least environmentally harmful fossil fuel because it has the lowest CO2 emission.


Online Bond Platform Providers

Context:  Securities and Exchange Board of India (SEBI) has come out with a detailed regulatory framework for online bond platform providers in a bid to streamline their operations.

About Online Bond Platform Providers (OBPPs):

  • It would be companies incorporated in India and they should register themselves as stock brokers in the debt segment of the stock exchange.
  • OBPPs cannot offer products or services on its platform except listed debt securities and debt securities proposed to be listed through a public offering.
  • Need: OBPs provide an avenue for investors, particularly non-institutional investors to access the bond market, their operations were outside SEBI’s regulatory purview.

Bond Market:

  • It is a place where debt securities are traded.
  • This market includes government-issued securities as well as corporate debt securities.
  • It enables the transfer of capital from savers or investors to the issuers who need the capital for projects and other operations.
  • This market is also known as the debt, fixed-income or credit market.


  • Bonds are units of corporate debt issued by companies and securitized as tradeable assets.
  • A bond is referred to as a fixed-income instrument since bonds traditionally paid a fixed interest rate (coupon) to debt holders.
  • Bond prices are inversely correlated with interest rates; when rates go up, bond prices fall and vice-versa.
  • Bonds tend to be less volatile and more conservative than stock investments, but they also have lower expected returns.


Kashi Tamil Sangamam

Context: The month-long Kashi Tamil Sangamam has begun in Varanasi, Uttar Pradesh.

About Kashi Tamil Sangamam:

  • Kashi Tamil Sangamam 2022 is an initiative of the Government of India as part of “Azadi ka Amrit Mahotsav”.
  • It will be a celebration of the spirit of ‘Ek Bharat Shreshtha Bharat’ and will also celebrate the Tamil language as well as culture.
  • Objective: To rediscover the centuries-old bond of knowledge and ancient civilizational linkage between Kashi and Tamil Nadu, and to bring them closer and deepen the people-to-people bond between the regions.
  • Duration: The month-long ‘Kashi Tamil Sangamam’ programme will be organised in Varanasi from 16 November to 16 December.
  • During the programme, academic exchanges will be held between experts, scholars on various facets of the two ancient manifestations of Indian culture, with a focus on bringing out the links and shared values between the two.

About the Ek Bharat Sreshtha Bharat initiative:

  • It was announced by the Prime Minister in 2015 on the occasion of the 140th birth anniversary of Sardar Vallabhbhai Patel.
  • Objectives of the initiative:
    • To celebrate the Unity in Diversity of our Nation and to maintain and strengthen the fabric of traditionally existing emotional bonds between the people of our Country.
    • Promote the spirit of national integration through a deep and structured engagement between all Indian States and Union Territories.
    • To promote the rich heritage and culture, customs and traditions, thus fostering a sense of common identity.
    • To create an environment which promotes learning between States by sharing best practices and experiences.


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