SEBI Extends Suspension Of Derivatives Trade In 7 Commodities Till December 2023

• On December 20, 2021, the capital markets regulator suspended futures trading in seven commodities, viz., wheat, paddy (non-basmati), moong, chana, soybean and its derivatives, mustard seed and its derivatives, and palm oil and its derivatives on the exchanges.
• The trading was initially suspended for a year, but in December 2022, the ban was extended for another year, i.e., until December 20, 2023.

Derivative trading

• The derivatives are short-term financial contracts that are bought and sold in the market.
• Profits are made in the derivatives trade by predicting the price movements of the asset that underlies the contract.
• The derivatives trade can be in futures and options. In a futures contract, a supplier pledges to sell a certain quantity at a fixed price at a future date. An option is a derivative contract which gives the buyer (the owner or holder of the option) the right, but not the obligation, to buy or sell an underlying asset.
• Farmers can put fixed amounts of their products, which fit the quality standards of the exchange, to be sold at a fixed price — almost like price insurance.
• These contracts can be exited by either the producer or the trader by paying a margin price to the exchange.
• Agricultural commodities like cotton, paddy, soya bean, soya oil, mustard seed, etc., are traded on the National Commodities and Derivatives Exchange (NCDEX) and the Multi Commodity Exchange (MCX).

NSE to pay ₹100 crore in penalties to SEBI for lapses

• Securities and Exchange Board of India passed its first order after adjudicating the co-location case in April 2019, when it fined the National Stock Exchange (NSE) a sum of ₹625 crores.

Co-location trading

• The National Stock Exchange 2009 started to offer co-location services to members of the exchange.
• It allows a member to set up his server in a specifically earmarked data centre within the NSE’s exchange premises for a certain price.
• The relative proximity allows members wishing to gain access to the entirety of buy and sell orders sent because of the reduced time taken for order execution.
• Is it Illegal? : Stock exchanges across the world allow the practice to flourish as a paid service. The SEBI allowed exchanges to offer co-location in 2008.

Securities Appellate Tribunal

• It is a statutory body established under the provisions of Section 15K of the Securities and Exchange Board of India Act, 1992
• It hears and disposes of appeals against orders passed by
  • The Securities and Exchange Board of India
  • Insurance Regulatory Development Authority of India
  • The Pension Fund Regulatory and Development Authority (PFRDA)

Planning Meeting on G20-Chief Science Advisers Roundtable (G20-CSAR) Organised by the Office of the Principal Scientific Advisor to the Government of India

• It is a government-to-government level initiative conceptualised through India’s G20-Presidency.
• It will be an effective platform to discuss and achieve solutions to some of the long pending as well as anticipated issues related to scientific research, technology development and deployment.
• Under this initiative, the Chief Science Advisers and their equivalents of G20 member countries, as well as the invited countries will discuss and develop collaborative frameworks for all involved countries.
• This initiative will also help in establishing an effective and coherent global science advice mechanism.
• The two high-level G20-CSAR meetings will be organised – the 1st G20-CSAR during 26-28 March 2023 at Hyderabad and the 2nd G20-CSAR during 27-29 Aug 2023 at Bengaluru.

Five billion people unprotected from trans fat leading to heart disease

• Trans fat, or trans-fatty acids, are unsaturated fatty acids that come from either natural or industrial sources.
  • Naturally-occurring trans-fat comes from ruminants (cows and sheep).
  • Industrially-produced trans-fat is formed in an industrial process that adds hydrogen to vegetable oil converting the liquid into a solid, resulting in “partially hydrogenated” oil (PHO).
• Partially hydrogenated oils (PHO) are solid at room temperature and prolong the shelf life of products. They are primarily used for deep frying and as an ingredient in baked goods.

Initiatives

• National Level: Foods Standards and Safety Authority of India (FSSAI) launched **a “Trans Fat-Free”**logo for voluntary labelling to promote TFA-free products.
• Global Level: World Health Organisation launched a REPLACE campaign in 2018 for global-level elimination of trans-fats in industrially produced edible oils by 2023.

Aatmanirbhar Bharat: DRDO’s Fuel Cell-based Air Independent Propulsion system to soon be fitted onboard INS Kalvari, significantly enhancing its submerged endurance

There are two types of submarines:

• Conventional or Diesel-electric submarine: They need atmospheric oxygen to run the diesel generator which in turn charges the batteries.
• Nuclear Submarine: It is a submarine powered by a nuclear reactor, but not necessarily nuclear-armed. They have considerable performance advantages over conventional submarines.

AIP

• With the emergence of submarines, there was a problem finding satisfactory forms of propulsion underwater.
• AIP is mostly implemented as an auxiliary source, with the traditional diesel engine handling surface propulsion. Most of these systems generate electricity, which in turn drives an electric motor for propulsion or recharges the boat’s batteries.
• AIP allows longer submergence than a conventionally propelled submarine. A typical conventional power plant provides 3 megawatts maximum, and an AIP source around 10 per cent of that. A nuclear submarine’s propulsion plant is much greater than 20 megawatts.
• It allows the submarines to stay for longer hours in water. The submarines need to come to the surface of the water to charge their batteries. This is reduced by AIP System.
• It decreases the noise levels made by the submarines. This makes it hard to detect the submarines.

Types of AIP:

• Open-cycle systems
• Closed-cycle diesel engines
• Closed-cycle steam turbines
• Stirling cycle engines
• Fuel cells

DRDO is using the fuel cells-based AIP System. It is unique as the hydrogen is generated onboard. The plant was operated in endurance mode and max power mode as per the user requirements. The system is being developed by Naval Materials Research Laboratory (NMRL) of DRDO.

Thousands of Indian IT professionals now jobless scrambling for options to stay in the US

H1B Visa:

• It is a multiple entry non-immigrant visa which allows foreign workers employed by US companies to work in the United States.
• The workers under H1B visas should be engaged in specialised occupations such as science, medicine, engineering and mathematics.
• H1B applicants must have at least a US bachelor''s degree or equivalent.
• Generally this visa is granted for a period of three years and can be extended for an additional three years for special circumstances.
• H-1B visa requires the employer to apply on the person’s behalf.
• Holders of H1B visas can sell or buy property and invest in the stock market in the United States.

L1 Visa:

• L1 Visa is an Intra-Company Transferee Visa.
• It allows large multinationals (need not be a US company) - with operations across various countries - to shift employees in specialized positions on a temporary basis to the US.
• There are two types of L1 visas - L1A and L1B.
• Managers and executives come under the category of L1As while L1Bs encompass workers with specialized knowledge.
• There is no education requirement for the L1 visa.
• L-1A visa holders are allowed a maximum stay of seven years in the U.S while s L-1B visa holders are allowed a maximum stay of five years.

Delhi Air Quality Continues To Remain In "Very Poor" Category

• It stands for System of Air Quality Forecasting and Research.
• SAFAR is an air quality monitoring system. It was introduced by the Ministry of Earth Sciences (MoES) to provide location specific information on air quality in near real time and its forecast upto 3 days in India.
• It is developed by Indian Institute of Tropical Meteorology (IITM), Pune, along with India Meteorological Department (IMD) and National Centre for Medium Range Weather Forecasting (NCMRWF).
• Objective: To increase awareness among the general public regarding the air quality changes in their city well in advance so that appropriate mitigation measures and systematic action can be taken up for betterment of air quality and related health issues.
• The World Meteorological Organization has recognised SAFAR as a prototype activity on the basis of the high quality control and standards maintained in its implementation.

Air Quality Index (AQI) calculation

• AQI is calculated based on the average concentration of a particular pollutant measured over a standard time interval (24 hours for most pollutants, 8 hours for carbon monoxide and ozone).
• Eight individual pollutants are monitored for the calculation of AQI in India. These are PM10, PM2.5, nitrogen dioxide, sulphur dioxide, carbon monoxide, ground-level ozone, ammonia, and lead.
• To calculate AQI, data for a minimum of three pollutants must be present, of which one should be either PM10 or PM2.5.

In a first, Eravikulam National Park reports birth of Nilgiri tahr in December

• Location: Idukki District, Kerala
• Area: 97 sq. Km
• It was declared as a National Park in 1978.
• This is also the land of “Neelakurinji”, the flower that blooms once in twelve years.
• The **highest peak south of the Himalayas – The Anamudi (**2695 meters) is situated in this park.
• Topography: The major part of the park is covered with rolling grasslands, but several patches of shola forests are also found in the upper part of the valley.
• Flora:
• Important flora includes Actinodaphne bourdilloni, Microtropis ramiflora, Pittosporum tetraspermium, Eupatorium adenophorum, Strobilanthus Kunthianus (Neela Kurinji)
• The shola grasslands are exceptionally rich in balsams and orchids including the long thought extinct variety Brachycorythis wightii.
• Fauna:
• 29 Species of mammals are found here of which 5 are endemic to the Western Ghats.
• The Nilgiri Tahr, Gaur, Sloth Bear, Nilgiri Langur, Tiger, Leopard, Giant Squirrel and wild dog are common.
• Half the world population of the endangered Nilgiri Tahr lives here.
• 140 species of birds of which 10 are unique to the Western Ghats.
• The Atlas moth, the largest of its kind in the world is seen in this Park.
• More than 100 varieties of butterflies and 20 species of amphibians are also seen here.

Nilgiri Tahr:

• It is a sure-footed ungulate that is endemic to the southern part of Western Ghats.
• Scientific name: Nilgiritragus hylocrius
• It is also the state animal of Tamil Nadu.
• Conservation Status:
  • IUCN: “Endangered”
  • Wildlife (Protection) Act of India, 1972 : Schedule 1

Now the chestnut-winged cuckoo has more pit stops in and around Chennai

• Scientific Name: Clamator coromandus
• The chestnut-winged cuckoo is a small bird, measuring 35 to 45 cm in length and weighing 60 to 90 grams.
• Distribution: India, Nepal, Bhutan, Bangladesh, Myanmar, southeast China, Laos, Thailand, Vietnam, Sri Lanka, , Malaysia, Indonesia and Philippines.
• Habitat : Includes tropical and temperate deciduous/evergreen forests.
• They are brood parasites, laying their eggs in the nests of other birds.
• They are mostly migratory and breed during summer in north India, Nepal, Bhutan, Bangladesh, Myanmar, southeast China, Laos, Thailand and Vietnam.
• They winter in south India, Sri Lanka, Andaman Islands (India), Malaysia, Indonesia and Philippines.
• IUCN Status: "Least Concern"

Parakram Diwas | Prime Minister names 21 Andaman islands after Param Vir Chakra awardees

• It is India''s highest military decoration awarded for the highest degree of valour or self-sacrifice in the presence of the enemy.
• The Param Vir Chakra was introduced on January 26, 1950, on the first Republic Day with retrospective effect from 15 August 1947.
• Literally, Param Vir Chakra means ''Wheel (or Cross) of the Ultimate Brave''.
• It can be awarded posthumously.
• It is similar to the British Victoria Cross, US Medal of Honor, or French Legion of Honor or Russian Cross of St. George.
• Design:
• The medal was designed by Mrs. Savitri Khanolkar.
• The medal is cast in bronze and circular in shape.
• In the centre, on a raised circle, is the state emblem, surrounded by four replicas of Indra''s Vajra, flanked by the sword of Shivaji.
• On its reverse, it shall have embossed Param Vir Chakra both in Hindi and English with two lotus flowers between Hindi and English. The fitting will be swivel mounting.
• The decoration is suspended from a straight swiveling suspension bar, and is held by a 32 mm purple ribbon.
• First winner: Major Somanth Sharma, from the Kumaon regiment.
• Till now, only 21 people had been given the Param Vir Chakra award of which 14 are posthumous.

Gallantry Awards:

• They have been instituted by the Government of India to honour the acts of bravery and sacrifice of the officers/personnel of the Armed Forces, other lawfully constituted Forces and civilians.
• They are announced twice in a year - first on the occasion of the Republic Day and then on the occasion of the Independence Day.
• India’s Gallantry Awards in the order of precedence:
• Param Vir Chakra
• Ashoka Chakra
• Mahavir Chakra
• Kirti Chakra
• Vir Chakra
• Shaurya Chakra.