Daily Current Affairs

To The Point Notes

1.India and the 46th Antarctic Treaty Consultative Meeting (ATCM-46)

About the ATCM-46 and CEP-26

• Hosted by: Ministry of Earth Sciences (MoES) through the National Centre for Polar and Ocean Research (NCPOR), Goa (India)
• Supported by: Antarctic Treaty Secretariat (Argentina)
• Theme: Vasudhaiva Kutumbakam (Sanskrit – one Earth, one family, one future)
• Outcomes:
  • Reaffirmed Antarctic Treaty (1959) and the Madrid Protocol (1991)
  • 17 revised and new management plans for Antarctic Specially Protected Areas (ASPAs) adopted
  • Development of a tourism framework for Antarctica discussed
  • Increased use of renewable energy and robust biosecurity measures encouraged

ATCM and CEP: Global Forums for Antarctica

• Annual meetings to discuss and take collective action on preserving Antarctica
• Crucial for protecting one of Earth’s most pristine ecosystems

Significance of Antarctic Research

• Climate Change and Global Warming: Understand ice melting, sea level rise, and climate change impacts.
• Ozone Layer Depletion: Monitor ozone layer recovery and assess international agreements’ effectiveness.
• Space Analog: Simulate challenges of future space exploration (e.g., Mars missions) with Antarctica’s extreme conditions.
• Scientific Discovery: Potential to discover ancient organisms, meteorites, and insights into Earth’s history.

India’s Involvement in Antarctica

• Treaties and Agreements:
  • Antarctic Treaty (1983) – Demilitarization of Antarctica
  • CCAMLR (1985) – Protection of Antarctic marine life
  • Madrid Protocol (1998) – Comprehensive environmental protection
• Organizations:
  • Council of Managers of National Antarctic Programmes (COMNAP)
  • Scientific Committee on Antarctic Research (SCAR)

About Antarctica

• Southernmost and fifth-largest continent
• Highest, driest, windiest, coldest, and iciest continent
• Divided by Transantarctic Mountains:
  • East Antarctica (Greater Antarctica) – Older rocks
  • West Antarctica (Lesser Antarctica) – Younger rocks, part of the “Ring of Fire”
• Active Volcano: Mount Erebus (Ross Island)
• Longest River: Onyx
• Largest Lake: Vostok

 

 

 

2.Venus: The Hot, Volcanic Twin of Earth

Earth’s Twin

• Venus, Earth’s closest neighbor, is similar in structure but slightly smaller.
• It’s the second planet from the sun.
• Unlike Earth, Venus is:
  • Inhospitable: Hottest planet with a highly acidic atmosphere (471°C).
  • Thick Atmosphere: Thick, toxic atmosphere filled with carbon dioxide traps heat (50 times denser than Earth).
  • Unique Rotation: Rotates east to west (opposite most planets).
  • No Moons or Rings.

Venus’ Volcanic Landscape

• Extensive volcanic plains with high volcanic mountains and vast ridges.
• Magellan Mission (1989): Provided crucial insights using Synthetic Aperture Radar to map 98% of Venus’ surface (1990-1992).
  • Revealed features hinting at a volcanic past.

Specific Volcanic Sites

• Sif Mons (Eistla Regio): A 200-mile wide volcano exhibiting signs of eruption during the early 1990s.
  • Radar images showed lava flow covering 12 square miles, suggesting Venus might not be dormant.
• Niobe Planitia: Large volcanic plain with lava flow covering 45 square kilometers.

Evidence of Recent Volcanic Activity

• 2023 study: A volcanic vent on Maat Mons (Atla Regio) expanded and changed shape during the Magellan mission.
  • Magellan’s radar images captured changes near Maat Mons, indicating a recent eruption.
  • Outflow of molten rock filled the vent’s crater and spilled down its slopes (direct geological evidence).

Implications of Recent Volcanic Activity

• Venus’ Evolution: Suggests Venus may be more volcanically active than previously thought.
  • Understanding volcanic history helps explain its different evolutionary path from Earth.
• Climate Alterations: Massive volcanic outpourings in Venus’ past may have altered its climate.
  • Scorching surface temperatures and thick atmosphere may have originated from intense volcanic activity.

Volcanoes: An Overview

• Vents or fissures in Earth’s crust through which lava, ash, rocks, and gases erupt.
• Types can be active, dormant, or extinct.
• Eruptions occur when magma (molten rock) rises to the surface.

 

 

 

 

3.Can Managed Care Organizations (MCOs) Improve India’s Universal Health Coverage (UHC)?

Context

• Health insurance is emerging as a key component of India’s UHC discussions.
• A recent healthcare chain’s foray into combined health insurance and healthcare provision suggests a potential Indian model of MCOs.

Health Insurance Landscape in India

• Ayushman Bharat Scheme (central government) – Covers over 490 million beneficiaries (unorganized sector).
• Employees’ State Insurance Corporation (ESIC) & Central Government Health Scheme (CGHS) – Cover 174 million beneficiaries (organized sector).
• State health insurance schemes – Cover about 200 million people.
• Despite these schemes, around 400 million Indians lack health insurance.
• Focus has been on indemnity insurance (hospitalization costs) despite a large outpatient market.

Managed Care Organizations (MCOs)

• MCOs are health plans that use managed care to control costs while maintaining quality care.
• Managed care aims to reduce healthcare costs while keeping quality high.
• The concept gained popularity in the US during the 1970s due to rising healthcare costs.

Potential Benefits of MCOs in India

• Cost Control:
  • MCOs manage utilization, negotiate discounted rates with providers, and implement cost-effective protocols.
  • They aim to reduce unnecessary expenses through care coordination and preventive measures.
• Quality Improvement:
  • MCOs emphasize quality initiatives like clinical guidelines, outcome monitoring, and evidence-based practices.
  • This focus ensures patients receive appropriate and effective care.
• Care Coordination:
  • MCOs coordinate care across providers and settings.
  • They facilitate communication, streamline referrals, and ensure seamless integrated care for patients.
• Healthcare Access:
  • MCOs offer networks of providers (primary care, specialists, hospitals) within their insurance coverage.
  • This network approach improves access to a wider range of services.
• Risk Management:
  • MCOs take financial risk for provided services, incentivizing them to manage costs and outcomes effectively.
  • Risk-sharing arrangements with providers and innovative payment models align financial incentives with quality and efficiency goals.

 

 

4.Self-Regulatory Organizations (SROs) for India’s Booming Fintech Sector

Context

• The Reserve Bank of India (RBI) released a framework for recognizing SROs in the fintech sector (SRO-FT).

What are SROs?

• Non-governmental organizations that bridge the gap between industry players and regulators.
• Set standards for conduct, enforce regulations, and promote ethical practices within the industry.

India’s Fintech Landscape

• 3rd largest fintech ecosystem globally.
• Contributes 14% to global fintech funding.
• Market size: $50 billion in 2021, estimated at $150 billion by 2025.
• Processed 46% of all real-time transactions worldwide in 2022.

Significance of Fintech

• Innovation and Efficiency: Offers new financial products and services, streamlining operations and reducing costs.
• Financial Inclusion: Provides access to financial services for unbanked and underbanked populations.
• Economic Growth: Fosters entrepreneurship, creates jobs, and contributes to overall economic growth.
• Global Connectivity: Enables seamless cross-border transactions and remittances, supporting international trade and investment.

RBI’s Guidelines for SRO-FTs

• Independent Entity: Free from external influence, committed to upholding regulatory standards.
• Representative Body: Membership should reflect the diverse expertise within the fintech sector.
• Membership:
  • Diversified shareholding with no single entity holding more than 10% of the capital.
  • Open to both domestic and foreign fintech companies.
• Minimum Net Worth: Rs 2 crore within a year of recognition as an SRO-FT.
  • Must be a not-for-profit company.
• Oversight and Enforcement:
  • Establish frameworks to monitor fintech activities and ensure compliance.
  • Address instances of user harm (fraud, misselling, unauthorized transactions).
  • Deploy surveillance mechanisms focused on maintaining confidentiality and collecting essential information.
• Grievance Redressal: Establish a dispute resolution framework for its members.

 

 

 

5.Indian Air Force Participates in Exercise Red Flag

About Exercise Red Flag

• Premier international aerial combat training event hosted by the US Air Force.
• Held several times a year with participation from air forces worldwide.
• Focuses on advanced aerial combat training and strengthens US-India strategic partnership.
• Allows for sharing expertise, testing tactics, and enhancing interoperability.

Other Joint Exercises by Indian Air Force

• Blue Flag (Israel)
• Eastern Bridge (Oman)
• Indra (Russia)
• SIAM BHARAT (Thailand)
• DESERT EAGLE (UAE)
• INDRADHANUSH (UK)
• Ex Samvedna (Multinational with Bangladesh, Nepal, Sri Lanka, UAE)

 

 

6.Colombo Process: India Takes the Lead (2024-26)

• Regional Grouping: Colombo Process (established in 2003).
• Members: 12 Asian countries (origin countries for migrant workers).
  • Afghanistan, Bangladesh, Cambodia, China, India, Indonesia, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, Vietnam.
• Function: Consultation platform for managing overseas employment and contractual labor.
• Decision Making: Non-binding, consensus-based through Ministerial Consultations.

7.Infrastructure Investment Trusts (InvITs) Get a Boost

• SEBI Framework: Issuance of subordinate units by private InvITs.
• Purpose: Bridge valuation gaps between asset sellers (Sponsors) and InvITs (buyers).
• Benefits:
  • Attract wider investor participation in infrastructure projects.
  • Generate returns for investors.
  • Facilitate infrastructure development.
• Regulation: SEBI (Infrastructure Investment Trusts) Regulations, 2014.
• Similar to: Real Estate Investment Trusts (REITs) – invest in infrastructure projects (roads, power plants, pipelines) instead of real estate.