GS Analyst
Daily Current Affairs

The Prime Minister inaugurated the year-long celebrations commemorating the 200th birth anniversary of Maharishi Dayanand Saraswati, at Indira Gandhi Indoor Stadium, Delhi. He also released a logo for commemoration.

• Dayanand Saraswati was the founder of Hindu reform organisation called ‘Arya Samaj’.
• He was born on February 12, 1824 in Gujarat.
• His original name was Mool Shankar Tiwari.
• He wandered as an ascetic for fifteen years (1845-60) in search of truth.
• He was born to Karshanji Lalji Kapadi, and Yashodabai.
• He was a social leader, Indian philosopher, and reform movement of the Vedic dharma.
• He was the first to give the call for Swaraj “India for Indians” in 1876, which was later taken up by Lokmanya Tilak.
• He took inspiration from the Vedas and considered them to be ‘India’s Rock of Ages’, the infallible and the true original seed of Hinduism.
• He gave the slogan “Back to the Vedas”.
• Dayananda died after vigorous public criticism of a princely ruler, under circumstances suggesting that he might have been poisoned by one of the maharaja’s supporters, but the accusation was never proved in court.
  
  

Arya Samaj:

• Arya Samaj is a monotheistic Indian Hindu reform movement that promotes practices and values based on the belief in infallible authority of the Vedas.
• It was founded by Dayanand Saraswati on April 10, 1875.
• It was the first Hindu organisation to introduce proselytization in Hinduism.
• It has worked towards the growth of the civil rights movement across India since the 1800s.

Recently, the Supreme Court (SC) reserved its judgment on whether children born out of invalid, void and voidable Hindu marriages can inherit their parents’ ancestral property.

• Chief Justice of India (CJI) has agreed that children from void and voidable marriages had rights over the property, whether self-acquired or ancestral, of their parents.
• The birth of a child in such a relationship has to be viewed independently of the relationship of the parents.
• A child born in such a relationship is innocent and is entitled to all the rights which are given to other children born in valid marriage.
• This is the crux of the amendment in Section 16(3),” the Division Bench of Justices (retired) G.S. Singhvi and A.K. Ganguly had written in their 2011 judgment in the Revanasidappa v Mallikarjun case.
• The Division Bench had held that such children would have a right to any property that belonged to their parents.
• The Bench had however clarified that the children’s claims would be limited to the property of their parents and no other relation.

Provisions related to Inheritance in India:

• Section 16(3) of the Hindu Marriage Act, 1956 deals with the inheritance laws in India:
  • Rights of Natural born Children: The children, both son and daughter, under the Succession Act have equal rights over the father’s property to be shared with the mother and grandmother.
  • Even a posthumously born child, if born alive, has rights to the father’s property.
  • The child’s rights come after the father's demise in the grandfather's self-acquired property.
  • Rights of Legally Adopted child: In the case of a legally adopted child, the child has the same rights as a natural child as per inheritance laws in India.
  • From the moment of adoption, the child ceases to belong to the biological parents and becomes a part of the new family.
  • But if a share of property or asset has been vested on the child before adoption from, say, the biological family, the property belongs to the child even after adoption.

Timeline for Inheritance laws:

Ancient Period:

• Pre-Vedic to Vedic Times: Inheritance practices were often patrilineal (through the male line) and based on family traditions and customs.
• Manusmriti (Laws of Manu): Manusmriti codified various inheritance laws and practices, emphasizing the importance of male heirs and providing guidelines for dividing property among family members.

Medieval Period

• Islamic Rule: During Islamic rule, Islamic laws of inheritance were followed for Muslims, which emphasized fixed shares for various family members, including sons, daughters, and spouses.

Post-Independence Era:

• Hindu Succession Act (1956): The Act aimed to modernize Hindu inheritance laws by providing more equitable shares to daughters and other female relatives in ancestral property, and it recognized the concept of a Hindu Undivided Family (HUF).
• Hindu Succession Act Amendments (2005): Major amendments were made to the Hindu Succession Act, ‘granting daughters equal rights’ in ancestral property. It removed the gender-based discrimination present earlier.
• Muslim Personal Law (Shariat) Application Act (1937): This Act applied Muslim personal law in various matters, including inheritance, for Muslims.

Contemporary Period:

• Triple Talaq and Uniform Civil Code Debates: Ongoing debates and legal battles continue regarding reforms in personal laws, including inheritance, particularly with regard to Muslim women's rights.
• Supreme Court Rulings: The Supreme Court of India has delivered judgments promoting gender equality in inheritance, such as the landmark judgment in Prakash & Ors v. Phulavati & Ors (2016) that clarified that daughters have equal rights in ancestral property even if the father died before the 2005 amendment.

The Reserve Bank of India (RBI) asked all regulated entities (REs), including banks and NBFCs, to give personal loan borrowers an option to switch over from a floating rate to a fixed rate regime at the time of resetting interest rates.

• When a customer takes a loan, the interest rate reset clause in the loan agreement allows the lender to review the interest rate after a certain period, as per the occurrence of a scheduled reset date of the loan.
• The reset rate is the new interest rate that a borrower must pay effective from the scheduled reset date.
• EMI of a floating rate loan changes with periodical changes in reset interest rates.
• These rates and the calculation are not uniform for all the banks as the cost of funds differs from banks.

Changes made by RBI:

The RBI asked banks to implement the following regulations:

• For Regulated entities (RE) :
  • At the time of sanction, REs will have to clearly communicate to the borrowers about the possible impact of a change in benchmark interest rate on the loan leading to changes in EMI and/or tenor or both.
  • Any increase in the EMI/ tenor or both will have to be communicated to the borrower immediately through appropriate channels.
  • At the time of reset of interest rates, REs will have to give the option to borrowers to switch over to a fixed rate as per their board-approved policy.
  • The policy will also specify the number of times a borrower will be allowed to switch during the tenor of the loan.
  • REs will have to disclose all applicable charges for switching loans from floating to fixed rate and any other service charges/ administrative costs in the sanction letter and also at the time of revision of charges or costs from time to time.
• For EMI or Elongation of tenor:
  • The borrowers will also be given the choice to opt for enhancement in EMI or elongation of tenor or for a combination of both options, and to prepay, either in part or in full, at any point during the tenor of the loan, with foreclosure charges.
  • The RBI said REs will have to ensure that these instructions are extended to the existing as well as new loans by December 31, 2023.

Why has RBI issued new regulations?

• RBI's Supervisory Reviews: The Reserve Bank of India (RBI) has conducted supervisory reviews and received feedback from the public.
• Unreasonable Tenor Elongation: Instances of banks significantly extending tenors of floating rate loans without proper borrower consent and communication have been identified.
• Interest Rate Changes: Banks can alter interest rates by adjusting the internal benchmark rate and spread during the loan term, potentially harming borrowers' interests and monetary transmission.
• Arbitrary EMI Resets: Borrowers complain of banks arbitrarily resetting Equated Monthly Installments (EMIs) and extending tenors without adequate notification.
• Hidden Foreclosure Charges: Borrowers are often unaware of foreclosure charges, adding to borrower dissatisfaction.
• Stress Concealment: RBI notes that prolonged tenor elongation may obscure underlying stress in banks' financial health.
• Refinancing Challenges: While theoretically possible, refinancing floating rate loans across different banks with distinct internal benchmarks is complex due to varying benchmark adjustment methods.
• Limited Borrower Options: Borrowers might feel compelled to stay with their original bank, paying higher charges, as refinancing is often impractical due to benchmark disparities.

Possible impacts:

• Interest rate of borrowers: Banks can change the interest rate by changing the internal benchmark rate and the spread during the term of the loan which could harm the interest of the borrower and also impair monetary transmission.

Benefits of Fixed rate regime:

• For borrowers:
  • Protection from Rate Hikes: Shifting to a fixed rate provides protection against potential future increases in interest rates. This can be particularly beneficial if interest rates are expected to rise in the near future.
  • Budgeting and Financial Planning: Fixed payments make it easier for borrowers to budget and plan their finances since they know exactly how much they need to allocate for their loan payments.
  • Potential Cost: Fixed interest rates tend to be initially higher than prevailing floating rates. Borrowers opting for a fixed rate might end up paying more initially compared to what they would have paid with a floating rate if rates remain relatively stable or decrease.
• For lenders:
  • Interest Rate Risk Mitigation: Lenders are less exposed to interest rate risks when borrowers opt for fixed rates. They can better manage their own interest rate risk since they know the interest income they'll receive remains constant.
  • Lending Profitability: Fixed-rate loans typically come with higher initial interest rates compared to floating-rate loans. This can lead to increased lending profitability for lenders, especially if rates remain stable or decline.
  • Potential Lower Loan Demand: Higher initial fixed rates might deter some potential borrowers who are attracted to lower initial payments offered by floating rates.
  • Limited Flexibility: Lenders might have less flexibility in adjusting loan terms for borrowers with fixed-rate loans, as the interest rate remains constant regardless of market conditions.

With the increasing challenges posed by climate change, population growth and evolving market dynamics, the need for sustainable, smart, yet localised agricultural practices has become more pressing than ever before.

What is Smart and Youth-centric Agriculture?

• Smart Youth-Centric Agriculture" refers to the integration of modern technologies, innovative practices, and youth engagement to transform and enhance the agricultural sector.
• It focuses on leveraging the potential of young people in agriculture by equipping them with knowledge, skills, and tools to address challenges and capitalize on opportunities in the agricultural domain.
• This approach aims to make agriculture more attractive, sustainable, and productive while catering to the needs and aspirations of the younger generation.

How it can be beneficial?

• For a sustainable future: The convergence of traditional wisdom and technology in smart agriculture can open the gateway to a prosperous future for Northeast India's farmers and communities.
• Adaptations to changing environment: It will likely empower them to adapt to changing conditions, preserve their cultural heritage and build a stronger and self-reliant agricultural sector.
• Inspire young minds towards agriculture: It will lead to further innovations. As we have witnessed the IT revolution, which was led by young minds who saw a dream and believed in it.
• Making agriculture aspirational: A new approach to smart farming became possible with an effort to engage with children and youth at the school level, making community spaces into science and agriculture laboratories where children can connect with nature, science and technology while learning more about their agricultural and food histories.

How involvement of youth can be achieved?

• Challenging modern techniques: Monocropping was becoming popular, adversely impacting diversity in local diets as crop and diet diversities are intrinsically linked. These disturbing trends presented an opportunity to rethink agriculture and innovation and make it more community-centric, in fact, even child-centric.
• Promoting community-centric participation: Today, krishisakhi, pashusakhi and solarsakhi are creating an ecosystem of inquiry that helps open minds to the idea of smart agriculture that is community-centred.
• Sense of coexistence: By attracting youth, helps them discover their relationship with the larger ecosystem, its relationship with parents, friends, their community and the environment around them.

Government Initiatives on similar lines:

• Digital Agriculture Mission (DAM): It includes India Digital Ecosystem of Agriculture (IDEA), Farmers Database, Unified Farmers Service Interface (UFSI), and Funding to the States on the new Technology (NeGPA), Revamping Mahalanobis National Crop Forecast Centre (MNCFC), Soil Health, Fertility and profile mapping.
• The GoI started eNAM (National Agriculture Market), an electronic trading portal which creates networks between the existing Agricultural Produce Market Committee (APMC) mandis for the farmers.
• Common platform called KISAAN: The Farmer FIRST (Farm, Innovations, Resources, Science and Technology) initiative was launched by ICAR to enhance farmers-scientists interface to move beyond production and productivity.

To prevent death of elephants due to train hits, the East Coast Railway (ECoR) has decided to install intrusion detection systems (IDS) at the sensitive locations of elephant passing zones and elephant corridors in Odisha.

• According to official data, as many as 784 elephants died in Odisha during 2012-13 to 2021-22 due to various reasons while electrocution and train-hits are considered among the key reasons.
• Similarly, 925 persons were trampled to death by tuskers while 212 persons were permanently disabled during the period.
  
  

What is Intrusion detection system (IDS)?

• IDS is based on artificial intelligence (AI) and existing optical fibres will be used as sensors to identify movements of elephants at locations and alert control offices, station masters, gatemen and loco pilots.
• It uses the fibre optic based acoustic system to sense real time presence of elephants on the track.
• The AI-based system can monitor unusual movement up to a stretch of 60 km.
• The system will help in locating and detecting the presence of elephants near the track so that speed of the trains in the sections will be reduced.
• IDS will send alarms to the loco pilot unit via SMS/internet with GPS tag, providing real time information about the location of elephants.
• Significance:
• The detection system will work as an early warning system for elephant intrusion.
• IDS will also help in detecting rail fracture, trespassing on railway track and alert about disaster mitigation due to unauthorised digging near railway tracks, landslides near tracks.

Need of such an initiative:

• For Conservation of Elephants: Under Project Elephant, was launched in 1992 as a Centrally-sponsored scheme with an aim to protect elephants and improve its habitat and corridors, reduce human-elephant conflict and ensure their welfare.
• As many as 33 elephant reserves, spanning 80,777 sq. km, have been notified.
• To avoid Human-Animal Conflict: As prime elephant habitats are shrinking across Asia and human developments are on the rise, both species are increasingly coming into close contact.
• Human-elephant conflicts (HEC) arise with complex interactions between humans and elephants often resulting in detrimental impacts for both species.

Status of Elephants in India:

• India has about 27,000 Asian Elephants, which is the world’s largest population of the species.
• As per Elephant Census (2017), Karnataka has the highest number of elephants (6,049), followed by Assam (5,719) and Kerala (3,054)
• More than 60% of the world’s elephant population is in India.
• The elephant is the ‘Natural Heritage Animal of India’.

Other Steps taken for Elephant conservation:

• Gaj Yatra(a nationwide awareness campaign to protect elephants): Monitoring the Illegal Killing of Elephants (MIKE) program (2003, to monitor the effectiveness of field conservation efforts)
• Gaj Soochna’mobile application for forest officials:
  • Upholding the right of passage of elephantsby SC
  • Involvement of mahouts and their familiesin the welfare of elephants
• Gaj Utsav: Asian Elephant Alliance, an umbrella initiative by five NGOs, had, last year, come together to secure 96 out of the 101 existing corridors used by elephants across 12 States in India.

Geography (GS-I)

Monsoon Trough

The monsoon trough, an elongated low-pressure area that was to the north of its normal position, causing heavy rainfall over Himachal Pradesh and Uttarakhand, has gradually started moving south, as per the India Meteorological Department.

What is Monsoon Trough?

• Monsoon Trough is an elongated low-pressure area which extends from heat low over Pakistan to Head Bay of Bengal. 
• This is one of the semi-permanent features of monsoon circulation. Monsoon trough may be a characteristic of east west orientation of Himalayan ranges and north south orientation of Khasi-Jaintia Hills. 
• Generally the eastern side of monsoon trough oscillates, sometimes southwards and sometimes northwards.
• Southward migration results in active/vigorous monsoon over major part of India.
• In contrast, the northward migration of this trough leads to break monsoon conditions over major part of India and heavy rains along foothills of Himalayas and sometimes floods in Brahmaputra River.

Polity and Governance  (GS-II)

Indira Rasois

Chief Minister Ashok Gehlot inaugurated 1000 new Indira Rasois in the Rajasthan.

About the scheme:

• Background: On 20 August 2020, Rajasthan Chief Minister Ashok Gehlot launched Indira Rasoi Yojana to provide quality nutritious food-- 100 gms of pulses, 250 gms chapatti, 100 gms of vegetables, and pickles-- to poor people at just Rs. 8. It is expected to benefit around 4 crores 87 lakh people of the state.
• The scheme will provide semi-rural rasoi or canteen, which offers a nutritious meal at a throwaway price.
• Today, there are 950 functional Indira Rasois.
• Each plate has 100 grams of dal, 100 grams of seasonal vegetables and six chapatis along with a serving of pickle.
• It costs Rs 17, but a patron pays Rs 8; the government subsidises the remaining amount.

Economy (GS-III)

UDGAM centralized web portal

The Reserve Bank of India (RBI) has launched a centralized web portal to help citizens search for their unclaimed deposits, known as UDGAM (Unclaimed Deposits – Gateway to access information).

About the portal:

• The Reserve Bank of India announced the launch of a centralised web portal, UDGAM (Unclaimed Deposits – Gateway to access Information), to address the issue of unclaimed deposits with banks.
• The RBI has developed a web portal to facilitate the public to easily locate their unclaimed deposits across multiple banks in one place.
• This centralised web portal ensures that every penny lying unclaimed with the banks reaches its rightful owner. 
• Launching the web portal will aid users in identifying their unclaimed deposits/ accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks.
• Developed by: Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks have collaborated on developing the portal. 

Science and Technology (GS-III)

Xenotransplantation

Surgeons at NYU Langone Health have transplanted a ‘Pig kidney Xenotransplantation’ that continues to function well after 32 days in a man declared dead by neurologic criteria and maintained with a beating heart on ventilator support.

• This represents the longest period that a gene-edited pig kidney has functioned in a human, and the latest step toward the advent of an alternate, sustainable supply of organs for transplant.

About the Process:

• Xenotransplantation is the transplantation of organs or tissues from an animal source into a human recipient.
• Scientists first attempted xenotransplantation in the early 1900s.
• Researchers have focused on using pigs because primate organs carry infectious disease risks, along with ethical concerns. 
• Also, pig organs are a relatively compatible size for humans.
• Pig tissues and hormones have been used in medicine for years, including for heart valves, insulin, and hormones.