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Indian Ocean Warming Accelerates

Source: TH

Why in News?

Recently, an Indian Institute of Tropical Meteorology (IITM), Pune indicates a tenfold increase in marine heatwaves, potentially intensifying cyclones, with a rise from 20 days to 220–250 days per year.

What are the Key Findings of the Report?

• Increase in Ocean Temperature:
  • Rapid Warming: The Indian Ocean's temperature has risen by 1.2°C from 1950 to 2020 and is projected to increase further by 1.7°C to 3.8°C from 2020 to 2100.
  • Marine Heatwaves: Predictions indicate an increase in marine heatwave days from an average of 20 days per year to 220–250 days per year.
    • These heatwaves are linked to quicker cyclone formation and can lead to a nearly permanent heatwave state in the tropical Indian Ocean.
    • The frequent and intense heat waves are likely to accelerate coral bleaching, destruction of seagrass, and loss of kelp forests, which are crucial to the fisheries sector.
• Changes in Heat Content of the Ocean:
  • Deep Ocean Warming: The increase in temperature extends beyond the surface down to depths of 2,000 meters, escalating the overall heat content of the ocean.
    • The heat content of the Indian Ocean is currently increasing at a rate of 4.5 zetta-joules per decade and is expected to grow at a rate of 16–22 zetta-joules per decade in the future.
  • Energy Comparison: The projected increase in heat content is likened to the energy released by one Hiroshima atomic bomb detonation every second, continuously for ten years.
• Sea-Level Rise and Thermal Expansion:
  • Increasing heat content leads to sea-level rise primarily through thermal expansion, which accounts for over half of the sea-level rise in the Indian Ocean, surpassing the effects of glacier and sea-ice melting.
• Changes in Indian Ocean Dipole (IOD) and Monsoon Patterns:
  • IOD Alterations: Due to the rise in the ocean's heat content Indian Ocean Dipole, a significant factor in determining monsoon strength, is likely to experience a 66% increase in extreme events and a 52% decrease in moderate events by the end of the 21st century.
  • Implications for Monsoons: These changes are critical as positive phases of the dipole, characterized by warmer temperatures in the western half, are favourable for the summer monsoon.
• Future Outlook:
  • Despite ongoing heatwaves, an "above-normal" monsoon is expected for June-September 2024 partially due to a positive phase of the IOD.

How do Rising Sea Levels Impact India?

• Rate of Sea Level Rise:
  • According to the Ministry of Earth Sciences, on average, the sea level along the Indian coast was observed to be rising at a rate of about 1.7 mm/year during the last century (1900-2000).
  • A 3 cm sea level rise could cause the sea to intrude inland by about 17 meters.
• India is more Susceptible:
  • India is most vulnerable to the compounding impacts of sea level rise.
  • In the Indian Ocean half of the sea level rise is due to the volume of water expanding since the ocean is warming up rapidly. The contribution from glacier melt is not as high.
  • The Indian Ocean is the fastest-warming ocean in terms of surface warming.
• Implications:
  • India is facing compound extreme events along our coastline. Cyclones are intensifying rapidly due to more moisture and heat from ocean warming.
  • The amount of flooding also increases because storm surges are compounding sea level rise decade by decade.
  • Cyclones are bringing more rain than earlier.
    • Super Cyclone Amphan (2020) caused large-scale flooding and inundated tens of km inland with saline water intruding.
  • Over time, the Indus, Ganga, and Brahmaputra rivers may shrink, and rising sea levels combined with a deep intrusion of saltwater will make large parts of their huge deltas simply uninhabitable.

What are the Ways to Tackle the Threat of Marine Heatwaves and Intensifying Cyclones?

• Mitigation Strategies:
  • Emission Reduction Strategies: Adopt and advocate for policies similar to the European Union's Emissions Trading System (ETS).
    • The ETS is a cap-and-trade scheme that incentivises industries to reduce greenhouse gas emissions, combating the root cause of marine heat waves.
  • Renewable Energy Integration: Invest in and promote renewable energy sources like Germany's transition towards solar and wind power.
    • This reduces dependence on fossil fuels and lessens the long-term impact on ocean temperatures.
• Early Warning Systems and Preparedness:
  • Advanced Monitoring: Emulate programs like Australia's Integrated Marine Observing System (IMOS).
    • IMOS utilises a network of buoys, ships, and satellites to collect real-time oceanographic data, providing crucial insights into marine heat waves heat waves and cyclone development.
  • Predictive Modeling: Leverage advancements like the National Oceanic and Atmospheric Administration's (NOAA) hurricane seasonal outlooks.
    • By statistically analysing atmospheric and oceanic data, NOAA provides forecasts for cyclone activity, allowing for better preparedness.
• Coastal Resilience Measures:
  • Mangrove Restoration: Implement initiatives like Bangladesh's efforts to restore mangrove forests.
    • Mangroves act as natural barriers, mitigating storm surges and protecting coastal communities from cyclones.
  • Infrastructure Improvements: Strive for advancements akin to the Netherlands' robust seawall network.
    • Well-maintained seawalls and levees can significantly reduce cyclone damage to coastal infrastructure and settlements.
• International Collaboration:
  • Data Sharing and Research: Foster open exchange of scientific data, similar to the Global Ocean Observing System (GOOS).
    • GOOS facilitates international collaboration in ocean observations, leading to a better understanding of marine heatwaves and cyclone development.
  • Capacity Building: Provide technical and financial assistance to developing countries, akin to the World Meteorological Organization's (WMO) Tropical Cyclone Programme.
    • This program equips vulnerable nations with resources and expertise to prepare for and respond to cyclones.

Drishti Mains Question: Q. Discuss the implications of the projected increase in marine heatwaves in the Indian Ocean on cyclone formation and intensity. How can such projections inform climate change mitigation and adaptation strategies in the Indian Ocean region? (250 words)

Japan’s Shifting Diplomatic Posture

Source: IE

Why in News?

In the recent past of changing geopolitics, the world is witnessing a turning point as Japan, long a symbol of post-war pacifism, strengthens its military capabilities. This transformation has the potential to significantly alter the balance of power in Asia and beyond.

What are the Key Facts About the Japan’s Diplomatic Posture?

• Japan's Diplomatic Journey Before World War II:
  • Seclusion (1600s-1850s):
    • For over 200 years, Japan remained largely closed off from the world. This policy of isolation aimed to preserve social order and prevent foreign influence.
  • Catching Up (1850s-1900s):
    • The arrival of Portuguese Commodore Perry's "Black Ships" in 1853 forced Japan out of its self-imposed seclusion.The Japanese government aimed to:
      • They modernised the military and adopted Western technology to become a strong nation .
      • Japan renegotiated previous treaties to regain control of its trade and foreign policy.
  • Aggressive Stance (1900s-1930s):
    • Despite its victories, Japan wasn't treated as a full equal by Western powers, particularly regarding racial equality (e.g., rejection of the racial equality clause in the Treaty of Versailles).
    • This frustration with the West fueled a shift towards aggressive expansionism like the militaristic takeover of Manchuria in 1931, formed the Axis Alliance before World War II etc.
    • This sense of disrespect and a desire to challenge the Western-dominated world order ultimately led Japan down a path of militaristic conquest that culminated in World War II.
• Japan's Diplomatic Journey After World War II:
  • After the defeat of Japan in World War II, the United States led the Allies in the occupation and rehabilitation of the Japanese state. Thus, Japan embraced a policy of pacifism.
  • Military spending was strictly limited, and the nation focused on rebuilding its economy. This strategy proved wildly successful, propelling Japan to become the world's second-largest economy by the 1970s.
  • Over the recent decades, Japan has undergone a significant shift in its diplomatic posture, moving away from strict post-war pacifism and towards a more assertive role on the world stage.

What Factors led Japan to Change its Diplomatic Posture?

• External Factors:
  • China's Rise: China's growing military power and assertive claims in the East China Sea, particularly regarding disputed territories like the Senkaku Islands, have created a sense of urgency for Japan to strengthen its defences.
  • North Korean Threat: North Korea's continued development of nuclear weapons and ballistic missiles remains a major security concern for Japan.
  • Uncertain US Commitment: The perceived erosion of US commitment to Asian security under the Trump administration, along with the rise of isolationist tendencies in the US, has pushed Japan to become more self-reliant in its defence.
    • Examples include the failure of USA’s Middle East policy in maintaing peace.
• Internal Factors:
  • Conservative Resurgence: A growing number of conservative voices in Japan advocate for a more active security role and argue that Japan, as a "normal power," has a responsibility to contribute to regional stability and defend its interests.
  • Pacifist Fatigue: Decades of relying solely on the US for security have led some to question the sustainability of this approach, especially in the face of a changing regional landscape.

How is Japan Changing its Diplomatic Posture?

• Manifestations of Change:
  • Increased Defence Spending: Japan has significantly increased its defence budget, ending the self-imposed cap of 1% of GDP.
    • From 1960 to 2020, Japan’s military spending remained at or below 1% of GDP
  • Military Buildup: Japan is acquiring new military capabilities, including offensive weapons like cruise missiles, and easing restrictions on arms exports.
    • Prime Minister Kishida announced that Japan will increase annual defence spending to 2% of GDP by 2027.
  • Deeper Security Cooperation with the Allies: Japan is working closely with the US on joint military exercises and exploring deeper integration of command structures.
    • The Key Japan-US joint military exercises are Keen Sword, Orient Shield, and Valiant Shield (a ballistic missile defence-focused exercise).
    • The Global Combat Air Programme (GCAP) is a multinational initiative led by the United Kingdom, Japan, and Italy to jointly develop a sixth-generation stealth fighter by 2035.
    • Also, Japan has decided to ease its strict defence export rules, allowing it to collaborate with Britain and Italy to build a next-generation fighter jet for export under certain conditions.
• Active Regional Diplomacy: Japan is strengthening its relationships with other regional powers like India and Australia, promoting a "free and open Indo-Pacific" vision.
  • Quadrilateral Security Dialogue (QUAD): A strategic security dialogue involving Japan, the US, India, and Australia to address regional security concerns.
  • Pacific Island Forum (PIF): Japan actively engages with Pacific Island nations, offering development assistance and fostering closer ties.
  • Support for Ukraine: Japan's strong stance in support of Ukraine against Russia is seen as a signal of its commitment to upholding international norms and deterring similar aggression in Asia.
• Shifting Stance on Historical Issues: Japan is attempting to reconcile with South Korea, a historical adversary, in an effort to create a more cohesive regional security architecture.

How Japan’s Changing Posture will Affect Indian Interest?

• Potential Benefits:
  • Countering China: Both India and Japan see China as a strategic concern. Japan's increased military capabilities and focus on the Indo-Pacific could strengthen the ability of both countries to deter Chinese aggression.
    • Both India and Japan are members of Quad grouping, G20 and G-4, International Thermonuclear Experimental Reactor (ITER).
    • The India-Japan Act East Forum was established in 2017 which aims to provide a platform for India-Japan collaboration under the fabric of India’s “Act East Policy“ and Japan’s "Free and Open Indo-Pacific Strategy”.
  • Enhanced Security Cooperation: The new strategy emphasises cooperation with like-minded countries like India. This could lead to more joint military exercises, technology sharing, and potentially relaxed export restrictions on Japanese defence equipment for India.
    • Japan is one of the few countries with whom India has 2+2 ministerial dialogue.
    • India and Japan's defence forces also organise a series of bilateral exercises such as JIMEX (naval), Malabar exercise (Naval Exercise), ‘Veer Guardian’ and SHINYUU Maitri (Air Force), and Dharma Guardian (Army).
  • Infrastructure Development: The new Japanese Official Development Assistance (ODA) Loan framework for strategic purposes could provide India with much-needed funding for infrastructure projects in border areas with China. This would improve India's defence preparedness and connectivity.
    • India has been the largest recipient of the Japanese ODA Loan framework for the past decades.
    • Delhi Metro is one of the most successful examples of Japanese cooperation through the utilisation of ODA.
    • India’s Western Dedicated Freight Corridor (DFC) project is funded by a soft loan provided by the Japan International Cooperation Agency.
  • Economic Cooperation: A stronger Japan could be a more reliable economic partner for India, potentially leading to increased trade and investment.
    • Japan’s bilateral trade with India totalled USD 20.57 billion during FY 2021-22. India was the 18th largest trading partner for Japan, and Japan was the 12th largest trading partner for India in 2020.
• Potential Challenges:
  • Competition: Both India and Japan are developing long-range strike capabilities. This could lead to an arms race in the region, potentially straining resources.
    • Competition between Japan and India to export defence equipment in common nature of market and allies like Africa, Philippines and South America might harm India's interests in the long run.
  • Diplomatic Challenges: It might become challenging for India to balance more assertive powers in competing blocks like the Quad grouping and BRICS.
  • Ideological Conflicts: Ideological conflicts may arise in areas such as human rights, nuclear proliferation, and international interventions, where India's stance can differ from Japanese stance.

Conclusion

• Japan's diplomatic shift has significant implications for Asia and the world. It will likely lead to a more multipolar regional order, with Japan playing a more prominent role in shaping security dynamics.
• The impact of Japan's dynamic posture on India depends on how effectively both countries manage the relationship. There's significant potential for increased security and economic cooperation, but challenges around competition, affordability, and strategic alignment need to be addressed for a mutually beneficial outcome.

Drishti Mains Question: Discuss about Japan’s changing political stance in recent decades. How Japan’s changing posture will affect Indian interests?

India's De-globalised Food Inflation

Source: IE

Why in News?

In 2023, world food prices dropped significantly from their 2022 highs. However, India's food inflation remained high at 9.5% in December 2023, contrasting with global deflation of -10.1%.

• The UN Food and Agriculture Organization's (FAO) food price index averaged 143.7 points in 2022, but fell to 124 points in 2023, a decline of 13.7%.

What Factors are Contributing to the Drop in Global Food Prices?

• Abundant Supply of Key Crops: Bumper harvests of major crops like wheat in 2023 led to a surplus in the global market.
  • This abundance contrasts with concerns in 2022, when worries about supply disruptions due to the war in Ukraine, a major grain exporter, caused prices to spike.
• Improved Supply from Russia and Ukraine: Despite the disruption of the Black Sea Grain Initiative in July 2023, both Russia and Ukraine have managed to maintain wheat exports.
  • This continued flow of grain from the region has helped to alleviate some of the supply anxieties.
• Lower Demand for Vegetable Oils: The UN's Food and Agriculture Organization Vegetable Price Index saw the biggest drop in 2023, falling by 32.7%.
  • This decline is due to a combination of factors, including improved vegetable oil supplies and a decrease in its use for biofuel production.
  • As more oil becomes available for food purposes, and less is diverted for biofuels, the overall demand for vegetable oil goes down, leading to lower prices.
• Slowing Demand: High inflation and fears of an economic recession have dampened consumer demand in many parts of the world, including in major food-importing regions, leading to a decline in import demand for certain food commodities and putting downward pressure on global prices.

Why is India Experiencing High Food Inflation Despite Falling Global Food Prices?

• Limited Transmission of Global Prices: While global food prices fell, India's food prices stayed elevated due to limited transmission of international prices to domestic markets.
  • India's import dependence is significant only for edible oils (60% of consumption) and pulses.
  • For most other agri-commodities, including cereals, sugar, dairy, and fruits and vegetables, India is self-sufficient or an exporter.
• Export Bans and Import Duties: The Indian government imposed bans on exports of certain food items like wheat, non-basmati white rice, sugar, and onions and provided import duty waivers on others, effectively reducing global market influences on domestic prices.
• Domestic Production Challenges: Issues like weather conditions affecting crop yields, particularly for cereals, pulses, and sugar, contributed to supply shortages and higher prices domestically.
  • Cereal and pulse inflation stood at 9.9% and 20.7% year-on-year, respectively, in December 2023.
• Low Stock Levels: Low stock levels for commodities like wheat and sugar further exacerbated price pressures.

How Food Inflation is Calculated in India?

• About: Food inflation in India is primarily measured by the Consumer Price Index (CPI) for Food and Beverages. CPI is a key measure of inflation in India that tracks the changes in the prices paid by typical consumers for a basket of goods and services over time.
• Recent Trends: Food has a weight of 45.9% in the consumer price index but its contribution to overall inflation has increased from 48% in April 2022 to 67% in November 2023.
  • The government's first Household Consumption Survey released recently showed that food's share of the rural consumption basket fell below 50% for the first time to 46% and to 39% for urban consumers.
  • According to the RBI, about 90% of food inflation is determined by non-cyclical factors like the weather, supply conditions, international prices and availability.
    • On average, however, 10% of food inflation is driven by demand factors with significant time variation.

How India can Address Food Inflation Effectively?

• Increase Agricultural Productivity: Investing in agricultural infrastructure, technology, and research to improve crop yields and reduce production costs can boost supply and stabilise prices.
• Efficient Supply Chain Management: Enhancing logistics, storage facilities, and distribution networks can reduce wastage and ensure a steady supply of food items to the market, mitigating price fluctuations.
• Diversification of Agriculture: Promoting diversification by encouraging the cultivation of a variety of crops and supporting alternative farming practices can reduce reliance on a few commodities and balance market dynamics.
• Price Monitoring and Regulation: Monitoring food prices regularly and implementing effective price regulation mechanisms can prevent price manipulation and ensure fair pricing for consumers and producers alike.
• Climate Resilience: Addressing climate change challenges through sustainable farming practices, water management strategies, and crop diversification can reduce production risks and enhance food security in the long term.

Drishti Mains Question: What are the key factors driving India's de-globalised food inflation trend, and what strategies can be implemented to address this disparity in the context of the country's economy?

Unclassed Forests in India

Source: TH

Why in News?

Recently, in compliance with the Supreme Court order, the Ministry of Environment, Forests and Climate Change (MoEFCC) uploaded the various State Expert Committee (SEC) reports on its website.

• This interim order was in response to a public interest litigation challenging the constitutionality of the Forest (Conservation) Act Amendment (FCAA) 2023.
• A key concern in the petition was that the status of unclassed forests, which were to be identified by the state SEC reports, wasn't known or if they had been identified at all.

What Did the SEC Reports Reveal?

• Highlights:
  • No state provided verifiable data on the identification, status, and location of unclassed forests.
    • Seven states and Union Territories (Goa, Haryana, Jammu & Kashmir, Ladakh, Lakshadweep, Tamil Nadu, and West Bengal) did not even constitute the SEC.
  • Only 17 out of 23 states submitted reports in line with the Supreme Court's directives.
  • Most states relied on existing data from forest and revenue departments, without undertaking ground-truthing or physical surveys and demarcation of unclassed forest lands have not been conducted in most states.
    • There is a lack of clarity on the geographic location and classification of these forests.
  • Many states' reports showed significant discrepancies with the data from the Forest Survey of India (FSI).
    • For example, Gujarat's SEC report stated unclassed forests of 192.24 sq. km, while the FSI reported 4,577 sq. km.
    • Similarly, Assam, where the SEC report states the extent of unclassed forest area to be 5,893.99 sq. km whereas the FSI has reported 8,532 sq. km.
  • Only nine states provided the extent of unclassed forests, while others shared data on different types of forest areas without clarity.
    • Some states detailed the extent of degraded, cleared, or encroached forests, but this information varies across reports.
  • There is a lack of clarity regarding the extraction of data from available records and the geographical location of forests, with no available topo sheet identification maps (a map showing a region’s natural and manmade features).
• Consequences:
  • The hasty and incomplete nature of the SEC reports is likely to have resulted in the large-scale destruction of unclassed forests.
    • For example, Kerala's SEC did not include the Pallivasal unreserve, an ecologically fragile area in Munnar, which was also devastated during the 2018 floods.
    • The report also failed to mention the Chinnakanal unreserve, an important elephant corridor in Munnar that is now overrun by intensive commercial tourism, leading to many instances of human-elephant conflicts.
  • The failure to comprehensively identify and protect these forests undermines the 1996 Godavarman judgement and the Indian Forest Policy's goal of achieving 33.3% forest cover in the plains and 66.6% in the hills.
    • The Forest Survey of India’s 2021 report shows an overall 21% forest cover (which experts have disputed) in the country and 40% in hills. Approximately 900 sq. km has been lost in the last cycle of the Survey’s review.

What are Unclassed Forests?

• Legal Protection:
  • Unclassed forests, also known as deemed forests, enjoy legal protection under the landmark case T.N. Godavarman Thirumulkpad vs Union Of India & Ors(1996).
• Definition:
  • They encompass various types of land, including those belonging to forests, revenue, railways, government entities, community forests, or private ownership.
  • Despite their diverse ownership, these forests are not officially notified under the Indian Forest Act, though the area has forest type vegetation.
• Identification Process:
  • State Expert Committees (SECs) were tasked with identifying unclassed forests across the country.
    • Identification involved examining available records such as Forest Working Plans and Revenue land records, as well as physically identifying land patches with forest characteristics.
• Implications of FCAA:
  • The Forest (Conservation) Amendment Act, 2023, which came into force in December 2023, introduced significant changes to the Forest (Conservation) Act, 1980 (FCA).
    • The amendment narrowed the coverage of the FCA to two types of lands:
      • Areas officially declared or notified as forests under the Indian Forest Act, 1927, or other relevant legislation.
      • Lands recorded as forests in government records since 25th October 1980.
  • FCAA, 2023 raised concerns about the loss of legal protection for unclassed forests, potentially leading to their diversion for non-forest use.
  • Under the FCAA, unclassed forests would require Central government approval for any diversion, even if not officially notified.
• Challenges:
  • Legal Protection:
    • With the enactment of the Forest (Conservation) Amendment Act, unclassed forests risk losing their legal protection, leading to their diversion for non-forest use.
  • Impact on Forest-Dwelling Communities:
    • The Amendment Act's failure to recognise 'deemed forests' as subject to the provisions of the Forest (Conservation) Act,1980 undermines the rights of forest-dwelling communities.
      • Forest land classified as 'deemed forests' can be diverted without the consent of Gram Sabhas, violating their rights recognised under the Forest Rights Act of 2006.
  • Environmental and Ecological Concerns:
    • The Act's narrow definition of forests based on legal status overlooks ecological considerations, leading to potential degradation and loss of biodiversity in unclassed forest areas.

Way Forward

• Ensure strict compliance with the T.N. Godavarman Thirumulkpad vs Union Of India Case, 1996, ruling to protect all forest types, including unclassed forests.
• Mandate physical surveys and ground-truthing to accurately identify and map unclassed forests.
  • Address discrepancies between SEC reports and FSI data through cross-verification and updating records.
• Implement penalties for states and Union Territories that fail to constitute SECs or provide accurate data on unclassed forests.
• Establish a robust monitoring system to track progress towards these targets and adjust strategies as needed.

Drishti Mains Question: Q. Critically analyse the implications of the Forest (Conservation) Amendment Act, 2023, on the protection and management of unclassed forests in India.

Read more: SC's Interim Order on the Forest Conservation Act 2023, Forest Conservation Amendment Bill 2023, Global Forest Watch (GFW)

High Court Upholds Debtors' Right to Travel

Source: IE

Why in News?

The Bombay High Court ruled that public sector banks (PSBs) cannot request Look Out Circulars (LOCs) against loan defaulters.

• The court set aside the central government’s Office Memoranda (OM) empowering PSBs to do so. The court stated that these tactics violate fundamental rights guaranteed under the Constitution.

Why did the High Court Rule Against Banks Restricting Debtors' Travel?

• Legal Challenge:
  • LOCs were issued by the Bureau of Immigration of the Ministry of Home Affairs (MHA) based on Office Memoranda (OM) from 27th October 2010.
  • In September 2018, amendments to the OM were introduced, authorising the issuance of a LOC to prevent individuals from travelling abroad if their departure was harmful to the country's "economic interest".
    • It empowered PSB officials (managing director and chief executive officers) to request immigration authorities to issue LOCs against default borrowers.
    • The default borrowers included not only the borrowers but also the guarantors for repayment of loans, and the principal officers or directors of corporate entities in debt.
• Petitioners’ Argument:
  • Petitioners contended that the OMs infringed upon fundamental rights, including the right to life with dignity under Article 21.
  • They argued that the government created an improper classification between public and private banks, regulated by the Reserve Bank of India (RBI).
  • Petitioners argued that the "economic interest of India" cannot be the same as the "financial interests" of a PSB.
• Centre’s Submission:
  • The MHA argued that the circulars contained necessary "checks and balances" for deprivation of life or personal liberty, as required by the established legal procedure.
• Court Stance:
  • The court referring to the case Viraj Chetan Shah v Union Of India & Anr, 2024, noted that the government failed to prove debt recovery due to the person being denied permission to travel abroad.
    • It criticised the use of LOCs as a strong-arm tactic to bypass legal proceedings, which PSBs see as inconveniences and irritants.
  • It emphasised that the fundamental right to travel abroad cannot be curtailed by executive action without a government statute.
  • The court also expressed concern that PSBs were given unilateral power in debt recovery, effectively making them judge and executioner. It found it incomprehensible that bank officials were elevated to the same status as high-ranking police officers.
  • The court found if a borrower solely deals with non-PSBs, no LOC can be issued, but even one PSB involvement poses a risk.
    • The court dismissed the differentiation between PSB and private bank borrowers as arbitrary. Considered invalid under Article 14, the court deemed the inclusion of only PSBs in the LOC provision arbitrary.
• Implications of the Verdict:
  • The ruling does not affect existing restraint orders issued by competent authorities.
  • Banks can still seek orders from courts or tribunals to restrain individuals from travelling abroad but cannot ask the centre to issue Look Out Circulars.
  • Banks can also invoke powers under the Fugitive Economic Offenders Act, of 2018 to recover the loan.
  • The judgement will not prevent the central government from framing an appropriate law consistent with Article 21 of the Constitution.

What are the Legal Rights of the Defaulters?

• The Reserve Bank of India (RBI) directed banks and finance companies to undertake compromise settlements or technical write-offs on accounts categorised as wilful defaulters or fraud.
  • Wilful offenders or companies involved in fraud will no longer face prejudice from lenders due to criminal proceedings against them.
• Borrowers who have undergone compromise settlements can apply for fresh loans after a minimum cooling period of at least 12 months.
  • Regulated banks and finance companies have the flexibility to stipulate higher cooling periods in line with their board-approved policies.
• The legal rights of defaulters in India include the right to receive a notice, fair debt collection practices, grievance redressal, seek legal assistance, and fair credit reporting.

Drishti Mains Question: Q. Discuss the legal and regulatory framework governing loan defaulters in India. Analyse the role of public sector banks in dealing with default cases and the challenges they face in debt recovery. Q. How are banking reforms aligning with broader financial inclusion goals while tackling the issue of loan defaults?

Bima Vistaar

Source: IE

Why in News?

Recently, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to price Bima Vistaar, its ambitious all-in-one affordable insurance mass product aimed at the rural areas of the country, at Rs 1,500 per policy.

What is Bima Vistaar?

• About:
  • Bima Vistar, which is part of the Bima Trinity. The first-of-its-kind all-in-one affordable insurance product, Bima Vistaar will offer life, health and property cover.
    • The product has been designed to provide a basic social safety net cover with combined features of life, health, personal accident and property insurance.
• Key Features:
  • The product includes Life cover premium of Rs 820, Health cover Rs 500, Personal accident cover at Rs 100, and Property cover at Rs 80.
  • If taken for the entire family on a floater basis, the policy will cost Rs 2,420, with an additional Rs 900 charged for the rest of the family members.
  • The sum assured for life, personal accident, and property covers is Rs 2 lakh each, while the health cover (hospital cash) offers a sum assured of Rs 500 for 10 days, with a maximum amount of Rs 5,000 available without producing bills or documents.
  • Agents selling Bima Vistaar policies stand to earn a commission of 10%, incentivising wider distribution and adoption of the product.
• Benefits for Broader Insurance Landscape in India:
  • Bima Vistaar is expected to provide a reliable insurance solution at a reasonable cost, thereby promoting financial inclusion.
  • Bima Vistaar policy underscores its importance in safeguarding individuals and families against various risks and uncertainties.
  • It is considered a mass product for increasing insurance penetration in the country, it is expected that, unlike micro insurance products, it will generate a large sales volume.
• Future Prospects:
  • IRDAI, along with the General Insurance Council (GIC) and Life Insurance Council (LIC), is working towards creating a "Bima Trinity" - Bima Sugam (digital platform), Bima Vistaar (product), and Bima Vahak (women-centric distribution channel) - to effectively distribute and promote these products.
    • The competitive pricing and comprehensive coverage of Bima Vistaar are expected to make it a viable and sustainable solution in the long run.

Read more: No Age Bar for Health Insurance in India

IREDA Gets Navratna Status

Source: LM

Indian Renewable Energy Development Agency (IREDA) achieves a significant milestone as it attains 'Navratna' status from the Department of Public Enterprises.

• IREDA was set up in 1987 as a non-banking financial institution, it operates under the Ministry of New and Renewable Energy and promotes and develops projects related to renewable energy sources.
• Navratna Privileges: Firms with Navratna status can undertake investments up to Rs 1,000 crore without central authority approval, allocate 30% of net worth annually, and engage in joint ventures and overseas subsidiaries.
• Qualification Criteria: Companies must attain Miniratna Category-I designation and be listed in Schedule A of CPSEs to qualify for Navratna status.

Read more: Sectors of Indian Economy, India's Renewable Energy Vision: IREDA

Goldman Environmental Prize 2024

Source: IE

Alok Shukla, a forest and tribal rights activist, has been awarded the prestigious Goldman Environmental Prize 2024 for his successful campaign that saved 4.45 lakh acres of biodiversity-rich forests from 21 planned coal mines in Chhattisgarh's Hasdeo Aranya region.

• The forest of the Hasdeo Aranya is spread over 1.70 lakh hectares across the districts of Korba, Surajpur, and Surguja in Chhattisgarh, known as the "lungs of Chhattisgarh", with rich biodiversity and home to 25 endangered species, 92 bird species, and 167 rare and medicinal plant species.
• The Hasdeo River, which flows into the Mahanadi River, is fed by these forests and supplies water to the Hasdeo Bango reservoir, irrigating 741,000 acres of farmland.
  • Chhattisgarh, where 44% of the land is forested, has the third largest forest coverage in India.
  • Furthermore, nearly 15,000 Indigenous peoples rely on the Hasdeo Aranya forests for their livelihood, cultural heritage, and food.
• The Goldman Environmental Prize also known as the Green Nobel Awards awarded by the Goldman Environmental Foundation. The Prize was founded by Richard and Rhonda Goldman in 1989.
  • It recognises grassroots environmental leaders from six regions (Asia, Africa, Europe, North America, South and Central America) and lastly, islands and island nations.
  • The winners are selected by an international jury and awarded USD 200,000 as prize money.

Read more: Protests in Chhattisgarh Over Coal Mining

AI-powered Election Outreach

Source: IE

As the ongoing Lok Sabha elections in India unfold the use of technologies like artificial intelligence (AI) and augmented reality (AR) is rapidly transforming how politicians interact with and reach out to potential voters.

• AI-generated Conversation: It involves generating the realistic-sounding voice of a local leader to make calls to voters and respond to their issues using a generative AI and making promises to improve the situation.
• Augmented Reality Rallies: Political parties use AR technology to create computer-generated images of politicians delivering messages to voters in their real-world environment, accessed through QR codes.
• Social Media Deepfakes: AI-generated deepfakes of politicians and bollywood celebrities are being used on social media and messaging platforms to deliver positive and negative messages to sway voter sentiment.
• Concerns about Literacy and Transparency: The widespread use of these technologies raises concerns about the potential for misinformation and the need for greater transparency, especially in a country with a large and diverse population of internet users with varying degrees of digital literacy.

Read more: Deepfakes: Opportunities, Threats, and Regulation, Artificial intelligence

Plato and the Avars

Source: DTE

Recent scientific advances have uncovered Plato's burial site and shed light on the Avars' historical significance, unveiling two intriguing past chapters.

• Plato (427-348 BCE), a prominent philosopher from Greece, was a student of Socrates (470-399 BCE) and a teacher of Aristotle (384-322 BCE).
  • In North India and Pakistan, they are known as ‘Sukraat’, ‘Aflatoon’, and ‘Arastu’ respectively.
  • Ancient papyrus scrolls (writing material used in ancient Egypt and the Mediterranean) discovered in the 18th century from Herculaneum unveiled Plato's burial in Athens' Academia garden.
• Avars, a dominant power in eastern central Europe from the late 6th century CE to the early 9th century.
  • The Avars originated from eastern central Asia and settled in the Carpathian Basin. The researchers collected DNA from Avar cemeteries and used a method called ancIBD to investigate the social practices of the Avars.
    • ancIBD detects Identity-by-Descent (IBD) segments in ancient human DNA (aDNA). IBD segments are long DNA sequences shared between two individuals and are a signal for recent genealogical connections.
  • The findings reveal that Avars avoid cousin marriage and have minimal intermarriage with non-Avars.
    • They practised Levirate unions (a widow married a male from the family of her deceased spouse), which is not common in Europe but were an established feature of steppe peoples from Asia and had a strict patrilineal structure.

Hangor Class Submarine

Source: TH

Recently, China has launched the first of eight Hangor-class submarines being built for Pakistan. It is a diesel-electric attack submarine.

• It is bigger than the Indian Navy's Kalvari class submarines, with a displacement of 2,800 tons compared to 1,775 tons for the Kalvari class.
• The Hangor class has Air independent propulsion (AIP).
  • AIP allows submarines to stay submerged for longer periods.
  • AIP is planned to be installed on the first Scorpene class submarine INS Kalvari in 2024.
• In terms of armament, both carry torpedoes and anti-ship missiles, The Kalvari class likely has more modern and battle-tested armament.
• The bigger size of the Hangor class may hamper its manoeuvrability in littoral waters compared to the smaller Kalvari class.

Read more: Air Independent Propulsion for Diesel Electric Submarines