News in Shorts 02 July 2026: NSE, EPF Scheme 2026, AI Governance & Biodiversity

Transcaspian marinka (Schizothorax pelzami)

Context: A community-led conservation initiative by the Sangno clan in Arunachal Pradesh has translocated the endangered Himalayan ray-finned fish to a safer stream to ensure its long-term survival.

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About Transcaspian marinka (Schizothorax pelzami)

• Schizothorax pelzami, commonly known as the Transcaspian marinka, is an endangered ray-finned freshwater fish belonging to the carp family (Cyprinidae).
  • It is locally known as Ngarsing in the Nyishi language
• Key Features
  • Habitat: It inhabits clear, cold, fast-flowing mountain streams and rivers with high dissolved oxygen.
    • It is adapted to high-altitude freshwater ecosystems of the Himalayan region.
    • It is native to the cold Himalayan streams of Arunachal Pradesh.
  • Diet: It is primarily omnivorous, feeding on algae, aquatic plants, insects, larvae and other small aquatic organisms.
  • Physical Features: It possesses streamlined, elongated bodies with soft fin rays, a characteristic feature of ray-finned fishes (Class: Actinopterygii).
• IUCN Status: Least Concern (LC)
• Conservation Concerns
  • Predation Pressure: Juveniles and fingerlings are highly vulnerable to predation by the mahseer, a large predatory freshwater fish often called the “Tiger of the Water.”
  • Habitat Degradation: Habitat fragmentation, overfishing, pollution and changing river ecology threaten the species’ long-term survival and breeding success.
• Conservation Efforts
  • Community-led Conservation: The Sangno clan translocated 52 fingerlings from the Lapabung Stream to the predator-free Richaso Stream and proposed a five-year fishing ban to facilitate breeding and population recovery.
  • Sustainable Livelihoods: The initiative seeks to revive traditional community fishing while promoting biodiversity conservation through eco-angling, stream-trail trekking, and community-based stewardship of freshwater ecosystems.

National Stock Exchange (NSE)

Context: The Delhi High Court has held that the National Stock Exchange of India (NSE) is a ‘public authority’ under the Right to Information Act, 2005.

About the National Stock Exchange (NSE)

• The National Stock Exchange of India (NSE), headquartered in Mumbai, is India’s largest stock exchange and pioneered the country’s first fully automated, screen-based electronic trading system.
• Establishment: The NSE was established in 1992 on the recommendations of the Pherwani Committee and commenced operations in 1994 after receiving recognition from SEBI in 1993.
• Administration: The NSE is governed by an independent Board of Directors comprising Public Interest Directors, Shareholder Directors, and the Managing Director & CEO.
  • It functions as a Market Infrastructure Institution (MII) under the regulatory supervision of the Securities and Exchange Board of India (SEBI).
• Key Features
  • Benchmark Index: The NSE hosts the NIFTY 50, India’s benchmark equity index representing 50 leading listed companies across major sectors.
  • Trading Platform: It facilitates trading in equities, derivatives, currency and interest-rate derivatives, ETFs, mutual funds and debt securities through a nationwide electronic trading network.
  • Technology: The exchange operates a fully automated, screen-based trading system with advanced risk management and a disaster recovery centre to ensure uninterrupted market operations.

About Public Authority under  RTI Act

• Definition: Section 2(h) of the Right to Information Act, 2005 defines a public authority as any authority or body established by the Constitution, law, government notification, or one that is owned, controlled or substantially financed by the government.
• Delhi High Court Ruling: The Delhi High Court held that the NSE qualifies as a public authority, observing that its establishment, ownership structure and governmental involvement satisfy the requirements of Section 2(h).

The ruling enhances transparency and accountability by making the NSE subject to the disclosure obligations prescribed under the Right to Information Act, 2005.

U.N. Global Dialogue on AI Governance

Context: A U.N. scientific panel has warned that unchecked Artificial Intelligence (AI) development could pose catastrophic risks ahead of the inaugural U.N. Global Dialogue on AI Governance.

U.N. Global Dialogue on AI Governance

• The U.N. Global Dialogue on AI Governance is the principal international forum established by the United Nations General Assembly (UNGA) to promote inclusive, transparent and evidence-based global AI governance.
  • It was mandated under UNGA Resolution A/RES/79/325 to ensure that AI governance reflects the priorities of all 193 UN Member States, including developing countries.
  • It will serve as a multi-stakeholder platform involving governments, scientists, industry, academia and civil society.
• Inaugural Session: The first session will be held on 6–7 July 2026 at Geneva, Switzerland, under the co-chairmanship of El Salvador and Estonia.
• Key Objectives
  • Bridging the AI Divide: The Dialogue seeks to reduce disparities in AI adoption by promoting capacity building, computing infrastructure, open-source AI models and data access, particularly for developing countries.
  • Interoperable AI Governance: It aims to promote compatible global standards for safe, secure and trustworthy AI while improving coordination among national AI regulatory frameworks.
  • Human Rights and Accountability: The framework emphasises transparency, accountability, fairness and meaningful human oversight to minimise algorithmic bias, discrimination and misuse of AI systems.
  • Assessing Socio-economic Impacts: It evaluates AI’s economic, social, cultural, ethical and environmental implications, including its effects on employment, public services and democratic institutions.

Key Concerns Highlighted by the U.N. Scientific Panel

• Growing AI Risks: The panel warned that increasingly autonomous AI systems may enable deception, misinformation, cyber threats, deepfakes and other catastrophic harms if left unchecked.
• Global Inequality: AI development remains highly concentrated, with a few countries possessing the most advanced computing capacity, while many nations lack the expertise to regulate or assess frontier AI models effectively.

Employees’ Provident Fund (EPF) Scheme, 2026

Context: The Central Government has notified the Employees’ Provident Fund (EPF) Scheme, 2026, replacing the EPF Scheme, 1952.

About Employees’ Provident Fund (EPF) Scheme, 2026

• The EPF Scheme, 2026 is a contributory social security scheme notified by the Ministry of Labour and Employment to modernise provident fund administration and align it with the Code on Social Security, 2020.
• Launch: The Scheme was notified on 29 June 2026 and replaces the 74-year-old EPF Scheme, 1952, while ensuring seamless transition for all existing subscribers.
• Key Objectives
  • Labour Code Alignment: The Scheme harmonises provident fund provisions with the Code on Social Security, 2020, creating a modern and uniform legal framework.
  • Digital Governance: It promotes electronic compliance, online claims, e-passbooks and digital settlements to improve transparency, efficiency and ease of service delivery.
  • Enhanced Portability: The Scheme strengthens the Universal Account Number (UAN) framework to enable seamless transfer of provident fund accounts across employers.
• Key Features
  • Contribution and Coverage: The mandatory EPF contribution remains 12% of wages each by the employee and employer, while the ₹15,000 statutory wage ceiling remains unchanged.
  • Simplified Withdrawals: The Scheme simplifies partial withdrawals for medical treatment, education, marriage, housing and specified emergencies, subject to prescribed conditions and minimum balance requirements.
  • Digital Compliance and KYC: It mandates electronic filings, Aadhaar, PAN and bank account linkage, and strengthens compliance for exempted provident fund trusts through digital record-keeping and online settlement timelines.
  • Emergency Provision: The Central Government may temporarily defer, suspend or reduce EPF contributions for up to three months during notified national disasters, pandemics or public health emergencies.

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India Adds 709 New Faunal Species and 353 Floral Taxa in 2025

Context: The Zoological Survey of India (ZSI) and Botanical Survey of India (BSI) released the Animal Discoveries 2025 and Plant Discoveries 2025 reports.

Key Highlights

• Faunal Additions (Animals): India added 709 faunal species in 2025: 483 species new to science.
  • 226 species were recorded in India for the first time.
• Major Faunal Discoveries: 
  • Myotis himalaicus: New Himalayan bat species.
  • Ptyctolaemus mamdaphaensis and Ptyctolaemus siangensis: Two new green fan-throated lizard species.
  • Lycodon irwini:  Newly discovered wolf snake.
• Biodiversity Milestone: India’s total recorded faunal biodiversity now stands at 1,05,953 species, reaffirming its status as one of the world’s megadiverse nations.
• Floral Additions (Plants):353 plant taxa were added to India’s flora: 221 taxa new to science.
  • 132 taxa were recorded in India for the first time (new distributional records).
• Plant Diversity Added: The Plant Discoveries 2025 report documents 154 angiosperms, 3 pteridophytes, 13 bryophytes, 62 lichens, 93 fungi, 22 algae, and 6 microbes.
• Composition of New Plant Discoveries: Approximately 43% of newly described plant taxa are vascular plants, while the remaining 57% are non-vascular organisms.
• Major Floral Discoveries: 
  • Polystichum siangense:  New fern from Arunachal Pradesh.
  • Miliusa beddomei:  New wild custard apple relative from the Western Ghats.
  • Hericium indicum: Newly discovered edible tooth fungus.
• Major Animal Groups Added: 
  • Hymenoptera (bees, wasps, ants) recorded the highest additions: 106 species. Lepidoptera (butterflies and moths): 65
  • Diptera (flies and mosquitoes):  64
  • Arachnida (spiders, scorpions, mites): 64
  • Coleoptera (beetles):  55
  • Pisces (fishes): 50
• The findings highlight the rich diversity of India’s invertebrate fauna and the continuing discovery of previously undocumented species.

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State-wise Highlights

• Faunal Discoveries:  Kerala recorded the highest number of new animal species, with 98 discoveries. It was followed by:
  • West Bengal:  76 species
  • Karnataka: 67 species
  • Arunachal Pradesh: 65 species
• Floral Discoveries: Arunachal Pradesh emerged as the leading contributor to new plant discoveries, with 49 taxa. It was followed by:
  • Uttarakhand: 39 taxa
  • Kerala: 37 taxa

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