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The development of a positive Indian Ocean Dipole (IOD)  has led to optimistic expectations regarding its ability to counterbalance the El Nino effect.

About El Nino:

• El Nino,  meaning “the little boy” in Spanish is commonly known, refers to an abnormal warming of surface waters in equatorial Pacific Ocean. It is known to suppress monsoon rainfall. 
• It was first noticed by scientists in the 1920s.
• It occurs on average every two to seven years, and episodes usually last nine to 12 months.  
• Formation: 
  • It forms when the trade winds blowing east-to-west along the equatorial Pacific slow down or reverse as air pressure changes, although scientists are not entirely sure what kicks off the cycle.
  • Because the trade winds affect the sun-warmed surface waters, a weakening causes these warm western Pacific waters to slosh back into the colder central and eastern Pacific basins.
• Impacts: 
  • El Niño events are typically associated with increased rainfall in parts of southern South America, the southern United States, the Horn of Africa and central Asia.
  • In contrast, El Niño can also cause severe droughts over Australia, Indonesia, and parts of southern Asia.

Image Credits: NOAA Climate.gov

La Nina:

• La Niña means Little Girl in Spanish. La Niña is also sometimes called El Viejo, anti-El Niño, or simply “a cold event.
• It is opposite of EL Nino, which is the abnormal cooling of sea surface waters in the same region, and is known to aid rainfall over India. 
• The La Nina phenomenon was discovered only in the 1980s.
• Mechanism for La Nina Formation: 
  • During La Niña events, trade winds are even stronger than usual, pushing more warm water toward Asia. 
  • Off the west coast of the Americas, upwelling increases, bringing cold, nutrient-rich water to the surface.
  • These cold waters in the Pacific push the jet stream northward. This tends to lead to drought in the southern U.S. and heavy rains and flooding in the Pacific Northwest and Canada. 
  • During a La Niña year, winter temperatures are warmer than normal in the South and cooler than normal in the North. La Niña can also lead to a more severe hurricane season.
  • During La Niña, waters off the Pacific coast are colder and contain more nutrients than usual.
• Impact:
  • Western Pacific: Increased potential for landfall in vulnerable areas, particularly continental Asia and China.
    • Heavy floods in Australia
    • Increased temperatures in Western Pacific, Indian Ocean and off the Somalia Coast.
  • South America: Drought in the South American countries of Peru and Ecuador.

El Nino Southern Oscillation (ENSO):

• There is a third, neutral phase,  in which the sea surface temperatures remain roughly in line with long-term averages. 
• Together, these three phases in the Pacific Ocean are referred to as El Nino Southern Oscillation, or ENSO.

Indian Ocean Dipole (IOD):

• IOD, sometimes referred to as the Indian Nino, is a similar phenomenon to El Nino, playing out in the relatively smaller area of the Indian Ocean.
• Affected Region: Between the Indonesian and Malaysian coastline in the east and the African coastline near Somalia in the west.
• A positive IOD event is often seen developing at times of an El Nino, while a negative IOD is sometimes associated with La Nina.
• It involves a temperature difference between the western and eastern sides of the Indian Ocean.
• Positive IOD: In it, warmer than average sea surface temperatures occur in the western Indian Ocean, particularly near the African coastline, while cooler than average temperatures are observed in the eastern Indian Ocean near Indonesia. This creates a gradient in sea surface temperatures across the Indian Ocean.
• Negative IOD: In a negative IOD event, the opposite occurs. Warmer than average SST is found in the eastern Indian Ocean, while cooler than average sea surface temperatures is observed in the western Indian Ocean.

Relation between IOD and El Niño: 

• While the IOD and El Niño occur in different ocean basins, they can influence each other’s behaviour. 
• Research suggests that strong El Niño events can enhance positive IOD conditions, increasing the likelihood of a positive IOD event in the Indian Ocean. 
• Conversely, a positive IOD can impact the development and intensity of El Niño events.
• The interactions between the IOD and El Niño are complex and can vary, making it important for climate scientists to study and understand the relationships between these phenomena to improve climate predictions and forecasting.

Impact of IOD:

• A positive IOD helps rainfall along the African coastline and also over the Indian sub-continent while suppressing rainfall over Indonesia, southeast Asia and Australia. 
• The impacts are opposite during a negative IOD event.

News Source: The Indian Express

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The on-ground assessment of cleanliness of cities as a part of the Swachh Survekshan 2023 began on Monday. 

• The exercise will be held to prepare the annual ranking of the cleanest cities, to be announced later in the year.

About Swachh Survekshan:

• Swachh Survekshan, conducted since 2016, is the world’s largest urban sanitation and cleanliness survey and is the part of the Swachh Bharat Mission-Urban.
• Nodal Ministry: Ministry of Housing and Urban Affairs (MoHUA)
• Primary Goal: 
  • To encourage large scale citizen participation and 
  • To create awareness about the importance of working together towards making towns and cities better places to reside in.
• Swachh Survekshan 2023 is the eighth annual edition of the ranking.
• Theme for 2023: Waste to Wealth for Garbage Free Cities.
• The assessment is to be conducted in 4 phases as compared to 3 phases in earlier editions. The survey would give priority to the principle of 3Rs – Reduce, Recycle and Reuse.
• Assessment parameters: 
  1. Cleanliness of public spaces and toilets
  2. Collection of feedback from residents
  3. Performance of municipalities in waste collection, segregation and processing.
• Marking Pattern: 
  • The cities will be marked out of a total 9,500 marks, of which 53 percent is service level progress, 26 percent certification and 23 percent citizens’ feedback. 
  • Within service level progress, 40 percent of the marks will be for processing and disposal of waste, 33 percent for segregated collection and 27 percent for used water management and protection of sanitation workers.

Swachh Survekshan 2022 Rankings:

• Cleanest States:
  • States with More than 100 Urban Local Bodies: Madhya Pradesh 
  • States with less than 100 Urban Local Bodies: Tripura
• Cleanest City:
  • More than 1 lakh Population: Indore
  • Less than 1 lakh Population: Panchgani from Maharashtra
• Best Ganga Town: Haridwar in Uttarakhand 
• Fast Mover City Award: Shivamogga in Karnataka

News Source: Indian Express

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India has ranked 40th on the latest world competitiveness ranking released by the International Institute for Management Development (IMD).

About Global Competitiveness Index:

• The IMD World Competitiveness Yearbook (WCY), first published in 1989, is a comprehensive annual report that serves as a global reference point for a country’s competitiveness. 
• It employs surveys, statistical data and trends to evaluate and rank the competitiveness of 64 countries on various aspects, including GDP, productivity, and how countries manage political, social and cultural factors to achieve long-term value creation.
• Main Evaluation criteria consisting 334 competitiveness parameters 
  1. Economic Performance
  2. Government Efficiency
  3. Business Efficiency
  4. Infrastructure

India’s Ranking: 

• India progressed in government efficiency but lagged in business efficiency, infrastructure and economic performance. 
• Key contributing factors to the country’s score were exchange rate stability, compensation levels and advancements in pollution control.
• The report also outlined challenges facing India in 2023, such as sustaining high GDP growth, managing financial market volatility, controlling inflation and fiscal deficit, accelerating digital transformation and mobilising resources for infrastructure development.

Global Rankings:

• Out of the 64 economies ranked in the annual report, Denmark, Ireland and Switzerland claimed the top three spots, while the Netherlands, Taiwan, Hong Kong, Sweden, the US and the UAE completed the top 10.

News Source: money control 

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The Ministry of Ports, Shipping & Waterways launched ‘Sagar Samajik Sahyog’ – the new guidelines of Corporate Social Responsibility (CSR). 

About the News Guidelines:

• Objectives
  • To empower ports to undertake CSR activities directly
  • To allow ports to initiate, undertake and expedite projects for community welfare through a framework where local communities can also become partners of development & change.
• CSR Committee: 
  1. For the purpose of planning and implementing CSR projects, a Corporate Social Responsibility Committee shall be constituted in each major port. 
  2. The Committee shall be headed by the Dy. Chairperson of the Major Port and shall have 2 other Members. 
• CSR Plan: Each major port shall prepare a Corporate Social Responsibility Plan for every financial year, and integrate its CSR in the Business Plan with the social and environmental concerns related to the business of the entity.
• CSR Budget will be mandatorily created through a Board Resolution as a percentage of net profit.
• Expenditure :
  • 20% of CSR expenses must be earmarked to Sainik Kalyan Board at district level, National Maritime Heritage Complex and National Youth Development Fund. 
  • 78% of funds should be released for the social & environmental welfare of the community in areas like drinking water, education, vocational training, skill development, electricity through non-conventional & renewable sources, health & family welfare, promotion of livelihood for economically weaker sections of society, community centres, hostels etc. 
  • A sum of 2% total CSR expense has been earmarked for monitoring of the projects under the CSR programmes by the Ports.

News Source: pib

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The Indian Army’s Spear Corps accused women activists in Manipur of obstructing routes and interfering in security operations amid ongoing rioting and unrest in the state.

About Meira Paibis of Manipur:

• The most visible organised face of civil society actions have been the Meira Paibis or women torch bearers, so called because of the flaming torches that they hold aloft while marching in the streets, often at night.
• The Meira Paibis are also known as Imas or Mothers of Manipur, and represent a powerful moral force. 
• They are loosely organised, usually led by groups of senior women, but have no rigid hierarchy or structure, or any overt political leanings.

What social role do the Meira Paibis play?

• The Meira Paibi was formed in 1977. 
• It is considered as one of the largest grassroots movements in the world. 
• Its initial focus of fighting alcoholism and drug abuse has now expanded to countering human rights violations and the development of society at large.
• The Meira Paibis have led numerous social and political movements in the state, including some powerful protests against alleged atrocities by Indian security forces.

News Source: Indian Express 

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The Ministry of Micro, Small and Medium Enterprises (MSME) launched the Champions 2.0 Portal and accompanying mobile application on 27 June, the International MSME Day. 

About Champions 2.0 Portal:

• It is designed to address the challenges faced by MSMEs in managing their cluster projects efficiently. 
• The portal aims to provide support to MSMEs in a more inclusive and user-friendly manner, as it will be available in 11 languages, including Hindi, Assamese, Gujarati, Bengali, and Kannada. 
• It offers a real-time feedback feature for user
• Geo tagging through the mobile application will enable real-time monitoring, tracking, and evaluation of projects, ensuring transparency and effective resource utilisation.

Other initiative launched:

• MSME Idea Hackathon 3.0: The hackathon aims to encourage women innovators and women-owned MSMEs to contribute ideas across various sectors such as agriculture, healthcare, power, and services. 

News Source: livemint

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United Nations has appointed Indian-origin satellite expert Aarti Holla-Maini as the Director of the United Nations Office for Outer Space Affairs.

About United Nations Office for Outer Space Affairs:

• The Office for Outer Space Affairs is the United Nations office responsible for promoting international cooperation in the peaceful uses of outer space. 
• The Office forms part of the United Nations Office at Vienna.
• The Committee on the Peaceful Uses of Outer Space: It serves as the Secretariat for the General Assembly’s only committee dealing exclusively with those issues.
• The Committee has two sub-committees: 
  1. The Scientific and Technical Subcommittee
  2. The Legal Subcommittee.
• Functions: 
  • On behalf of the Secretary-General, the Office for Outer Space Affairs maintains the Register of Objects Launched into Outer Space and disseminates via its website that information recorded in the Register. 
  • The Office also prepares and distributes documents, reports, studies and publications on various aspects of space science and technology applications and international space law. 

News Source: livemint

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President conferred Distinguished Service Awards, including 52 Ati Vishisht Seva Medals, on 84 serving and retired personnel of the armed forces and the Indian Coast Guard.

About the Awards:

• Uttam Yudh Seva Medal: Instituted in 1980 to recognize the distinguished service of an exceptional order during war/conflict/hostilities.
• Ati Vishisht Seva Medals (AVSMs): Instituted in 1960, it is awarded for distinguished service of an exceptional order.
• Bar To Ati Vishisht Seva Medal: If a recipient of the medal is subsequently awarded the medal again, every such further award shall be recognised by a Bar to be attached to the riband by which the medal is suspended.
• Param Vishisht Seva Medals (PVSMs): Instituted in 1960 to recognise the distinguished service of the most exceptional order.

News Source: The Hindu

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Recently, two California-based companies were cleared to make and sell their cell-cultivated chicken in the USA.

• The first country to approve the sale of alternative meat was Singapore in 2020.

Image Source: swissinfo

About Cell-Cultivated Chicken:

• Cell-cultivated chicken, also known as cultured chicken or lab-grown chicken, refers to meat that is produced using cell culture techniques rather than traditional animal farming methods. 
• Researchers are also developing cell-cultivated versions of sea bass, tuna, shrimp, and pork. 

Challenges:

• Consumer Acceptance: Perfectly substituting animal meat with alternative meat requires the latter to match the former’s taste, texture, and appearance, and cost. 
• Cost: The cost of cell-cultivated meat is expected to remain high in the near future. 
  • One 2020 analysis even concluded that it may never be cost-competitive, while reports have also expressed concerns about the costs imposed by quality control, especially at scale.

• Resources: For the cellular cultivation process, researchers require:
  • high quality cells to begin with
  • information about how different cell types contribute to the ‘meat’
  • a suitable growth-medium in which the cells can be cultured
  • other resources required to maintain the quality of the final product

 Arguments in favour of developing Lab-grown meat: 

• Climate Mitigation: The FAO has estimated that global livestock is responsible for 14.5% of all anthropogenic greenhouse-gas emission. Lab grown meat can reduce such emissions.
  • With reduction in slaughterhouses, pollution of land and water can also be prevented.
• Customisation: Lab-grown meat can be customised to be healthier than their animal counterpart, such as being designed to contain less fat, thus contributing to public health
• Nutritional Security: Its proponents have also advanced such meat as a way to meet the world’s nutritional security and food security needs.

News Source: The Hindu

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IDFC First Bank said it had raised ₹1,500 crore of Tier­2 bonds in the domestic bond market.

About Tier-2 Bonds:

• Tier-2 bonds are a type of debt instrument banks issue to raise capital for their operations. 
• Tier-2 bonds form a part of the bank‘s Tier-2 capital and are subordinate to Tier-1 capital.
• Banks are allowed to issue even foreign currency Tier-2 bonds on a case-by-case basis after taking the approval of the RBI.

Benefits of Tier-2 bonds:

• Flexibility: Tier-2 bonds offer greater flexibility to banks in terms of raising capital as they can be issued and redeemed as and when required by the bank. 
  • This helps banks respond quickly to changes in their capital requirements.
• Lower Cost of Capital: Tier-2 bonds are considered a cost-effective source of capital for a bank because banks do not have to issue new equity to raise capital, which can dilute the holdings of existing shareholders.
• Diversification of Funding Sources: Tier-2 bonds provide banks with another source of funding, which helps to diversify their funding mix and reduce their dependence on a single source of funding. 
  • This, in turn, enhances the stability of their funding structure.
• Attractive Investment Option: These bonds offer a higher coupon rate compared to other fixed-income instruments such as government bonds and fixed deposits.

Risks:

• Capital Risk: Tier-2 bonds carry a risk of losing capital in case a bank goes into liquidation or needs to cover the losses.
• Credit Risk: Although Tier-2 bonds offer a higher interest rate coupon, investors should check the banks‘ credit ratings before making investments.
• Liquidity Risk: These types of bonds are not widely traded in the secondary market and investors may find it difficult to sell these bonds.

What Is Tier 2 Capital?

• The term tier 2 capital refers to one of the components of a bank’s required reserves. 
• Tier 2 is designated as the second or supplementary layer of a bank’s capital and is composed of items such as revaluation reserves, hybrid instruments, and subordinated term debt. 
• It is considered less secure than Tier 1 capital because it’s more difficult to liquidate.

News Source: The Hindu

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Recently, the Geographical Indications Registry in Chennai has given tags to seven different products from Uttar Pradesh. 

More on News:

• Amroha Dholak, Mahoba Gaura Patthar Hastashlip, Mainpuri Tarkashi, Sambhal Horn Craft, Baghpat Home Furnishings, Barabanki Handloom Product, and Kalpi Handmade Paper are the products that been given the Geographical Indication (GI) tag.

About Geographical Indication Tag:

• A Geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. 
• Geographical Indications are covered as a component of Intellectual Property Rights (IPRs) under the Paris Convention for the Protection of Industrial Property.
• Geographical indications are typically used for agricultural products, foodstuffs, wine and spirit drinks, handicrafts, and industrial products.
• The first product in India to be accorded with GI tag was Darjeeling tea in the year 2004-05.

Image Credits: Times of India

Process Governing GI Tag:

• International Level: At the International level, GI is governed by the World Trade Organisation’s (WTO’s) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). 
• National Level: In India, Geographical Indications registration is administered by the Geographical Indications of Goods (Registration and Protection) Act, 1999 which allowed India to join the WTO and sign the convention. 
•  A GI registration is given to an area, not a trader, but once a product gets the registration, traders dealing in the product can apply for selling it with the GI logo.

Methods to Protect a Geographical Indication:

• Sui generis systems (i.e. special regimes of protection): A “sui generis” system means “one that is of its own kind”. In this case, it refers to the creation of a new national law or the establishment of international norms that would afford protection to intellectual property dealing with genetic resources.
• Using collective or certification marks such as Trademarks.

Benefits of GI Tag:

• International Trade: GIs open doors of international trade by protecting products’ names and reputation in foreign markets which in turn increase exports.
• Reputation & Trust: By establishing a reputation for quality and authenticity, GI tagging helps in bringing an instant confidence amongst consumers. The association of a specific region with the product adds value and establishes instant trust, loyalty, and reputation.
• Market Differentiation: Offering valuable opportunities for businesses to differentiate their products in the marketplace, GIs highlight the uniqueness and qualities of the product.
• Tourism and Destination Marketing: Unique regional products attract visitors seeking authentic experiences, fostering economic growth and cultural exchange. Thereby, GIs can serve as drivers of tourism and destination marketing. 
• Legal Protection to the Products: GI Tag prevents unauthorized use of GI tag products by others.

Challenges Associated with GI Tag:

• Counterfeiting & Imitation: Businesses need to implement robust measures to combat infringements related to GI Violation. 
• International Recognition: Documentation and legal procedures to achieve international recognition for GIs is a complex process. 
• Legal Frameworks: Enforcing GI protection requires a strong legal framework and effective enforcement mechanisms. Regions lacking robust legal systems or with limited resources can inhibit the ability to enforce GI rights. 
• Consumer Awareness & Education: Many consumers still do not fully understand the added value and distinct characteristics associated with GIs. 
• Sustainability & Conservation: Climate change, pollution, and unsustainable practices pose threats to the ecosystem that support the production of GI tagged products, necessitating sustainable farming and production techniques.
• Small-Scale Producer Participation: Navigating the GI system due to limited resources, lack of knowledge, or difficulties in meeting regulatory requirements, limits the small-scale producers from participating in GI tagging. 

Initiatives taken by Government to Promote the GI Tag Products:

• Launch of GI Store: India’s 1st Geographical Indication (GI) Store at Goa International Airport in Dabolim, with an eye over for the global tourists.    
• Promotion through Agricultural and Processed Food Export Development Authority (APEDA): The Centre, through Agricultural and Processed Food Export Development Authority (APEDA) has been facilitating trial shipments into new markets world wide for GI products.  
• Financial Assistance: In accordance with the objectives of national IPR policy, Government of India will provide financial assistance to eligible agencies for undertaking initiatives for Promotion of GIs.
• Department for Promotion of Industry and Internal Trade (DPIIT): It organized various GI Promotion Programmes/Exhibitions/ Conferences/ Buyer Seller Meets/ Workshops with focus on GI Products to boost its sale in India as well abroad.

Way Forward:

• Strengthening Legal Frameworks: Governments should establish robust legal frameworks that clearly define the criteria for obtaining and maintaining a GI tag.
• Enhancing Enforcement Mechanisms: Adequate resources and dedicated teams should be allocated to enforce and monitor the proper use of GI tags.
• Market Promotion and Branding: Proactive marketing strategies and branding initiatives can enhance the visibility and market access of GI products. 
• Strengthening International Cooperation: International cooperation is crucial for the recognition and protection of GI products across borders. 
• Promoting Innovation and Product Development: Encouraging innovation within the framework of traditional practices can help address the challenge of balancing tradition and market demands.

News Source: The Hindu

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