Wednesday, 28th June 2023

Table of contents

1   Daily Current Affairs


Evolution of Eukaryotes from Prokaryotes


US to Return Over 100 Antiquities


Paris Finance Meet


Cell Cultivated Chicken


SEBI Releases Compliance Rules For REITs and InvITs


Digital Publisher Content Grievances Council (DPCGC)


Lasers to Deliver Internet in Remote Areas


Chennai-Vladivostok maritime route


Income Tax (I-T) Rules amendment for Charitable institutions


UTPRERAK (Unnat Takniki Pradarshan Kendra)


Hyperspectral remote sensing (HRS) technology


Debrigarh Wildlife Sanctuary


Guinea Bissau

2   Daily Editorial Analysis


Reforming Multilateral Development Banks

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Daily Current Affairs

Evolution of Eukaryotes from Prokaryotes

In News: Mitochondria in eukaryotic cells and chloroplasts in plant cells have evolved from free-living bacteria.


In recent times, there has been a notable surge of interest in unraveling the evolutionary path from prokaryotes to eukaryotes, providing insights into the captivating puzzle of the emergence of sophisticated cells equipped with nuclei and organelles.

The dominant theory of endosymbiosis postulates that the evolution of eukaryotes can be attributed to a symbiotic association between an ancient archaeon (a primordial group of microorganisms known for their ability to thrive in extreme environments) and a bacterium.

Difference between Prokaryotic Cells and Eukaryotic Cells

  • Cell Structure: Prokaryotic cells are simpler in structure and lack a distinct nucleus. They have no membrane-bound organelles. In contrast, eukaryotic cells have a well-defined nucleus enclosed within a nuclear membrane. They also possess various membrane-bound organelles, such as mitochondria, endoplasmic reticulum, Golgi apparatus, and lysosomes.
  • DNA Organization: Prokaryotic cells have a single, circular DNA molecule located in the nucleoid region, which is not enclosed by a membrane. Eukaryotic cells, on the other hand, have multiple linear DNA molecules organized into chromosomes that are enclosed within the nucleus.
  • Size: Prokaryotic cells are generally smaller, with a diameter of around 1-5 micrometers. Eukaryotic cells are larger, ranging from 10-100 micrometers in diameter.
  • Reproduction: Prokaryotic cells reproduce asexually through binary fission, where the DNA replicates and the cell divides into two identical daughter cells. Eukaryotic cells can reproduce asexually through processes like mitosis, producing identical daughter cells, or sexually through meiosis, which involves the formation of gametes and genetic recombination.
  • Complexity: Eukaryotic cells are more complex in terms of internal organization and cellular processes. They have a higher degree of specialization and differentiation, allowing for the development of tissues, organs, and multicellular organisms.
  • Examples: Prokaryotic cells are found in bacteria and archaea, which are single-celled organisms. Eukaryotic cells are found in plants, animals, fungi, and protists, including both single-celled and multicellular organisms.

Endosymbiosis and Eukaryotes

  • Endosymbiosis is a process where one organism lives inside another and both benefit from the relationship. The endosymbiotic theory suggests that eukaryotes evolved from a small archaeon engulfing a bacterium.
  • The archaeon protected the bacterium and provided a stable environment, while the bacterium supplied energy to the archaeon. Over time, they became dependent on each other and formed a new type of cell called a eukaryote.
  • The engulfed bacterium became the mitochondrion, which produces energy for the cell.
  • In plants, another endosymbiotic event occurred with a cyanobacterium becoming the chloroplast, responsible for photosynthesis.
  • This symbiotic relationship allowed eukaryotes to grow larger, become more complex, and adapt to different environments.

Keywords: GS-3 Science and Technology
Daily Current Affairs

US to Return Over 100 Antiquities

In News: Indian Prime Minister expressed happiness and gratitude towards the US government, which has decided to return more than 100 Indian antiquities that had been stolen from India.

About the Stolen Antiquities:

  • Over centuries, innumerable priceless artefacts, some with deep cultural and religious significance, had been stolen and smuggled abroad. Many of them reached the USA either through legal or illegal routes.
  • The Indian government adopted a proactive approach to bringing back Indian artefacts and cultural heritage through discussions with global leaders and multilateral institutions. As a result a total of 251 antiquities have been brought back to India.
  • In 2022, the US authorities returned 307 antiquities that were stolen by multiple smaller trafficking networks to India, valued at nearly 4 million USD. Since the founding of, the Antiquities Trafficking Unit has returned nearly 2,200 antiquities, valued at over USD 160 million, to 22 countries.
  • Among the pieces being returned were antiquities like Shiva, Parvathi, Nataraja statues belonging to Chola era and Arch Parikara, crafted from marble and valued at approximately USD 85,000.

Legal Provisions for preventing trafficking of antiquities:

  • Mutual Legal Assistance Treaty MLAT in Criminal Matters between India and US allows for mutual assistance on antiquities repatriation.
    • It is a mechanism whereby countries cooperate with one another to provide and obtain formal assistance to ensure that criminals do not escape or sabotage the due process of law.
    • The Ministry of Home Affairs is the nodal ministry for executing court orders under MLATs.
  • Antiquities and Art Treasures Act AATA, 1972 makes the export of such items without licence, from the Archaeological Survey of India, a criminal offence.
  • Customs Act 1962 prevents the export of antiquities.



Keywords: GS-1 Indian Culture and Art forms
Daily Current Affairs

Paris Finance Meet

In News: A summit on ‘Global Financial Pact on Climate Change’ was held in Paris, which was chaired by France and India was co-chairing the steering committee. It is aimed at addressing the financing needs of sustainable development and climate action.

About the Global Financial Pact on Climate Change:

  • The pact focuses on mobilizing funds from various sources, including public and private sectors, to support initiatives that promote economic growth, poverty eradication, and environmental sustainability.
  • The summit was aimed at boosting crisis financing for low-income states and easing their debt burdens, reforming post-war financial systems and freeing up funds to tackle climate change.

Key Outcomes of the Summit:

  • The summit shed light on the magnitude of the crises, the clear demands from developing nations, and the proposed courses of action advocated by developed nations.
  • An additional lending capacity of $200 billion for Multi-Development Banks (MDBs) to support emerging economies would be unlocked to address climate challenges.
  • Multilateral Development Banks (MDBs) were a central topic of discussion for financial system reforms, with calls for expanded resources to address trans boundary challenges and climate issues.
  • The World Bank introduced disaster clauses for debt deals, allowing debt payments to be suspended in the event of extreme weather events.
    • Additionally, it unveiled a Private Sector Investment Lab focused on renewable energy and energy infrastructure.
  • The International Monetary Fund announced the fulfilment of its commitment to allocate US $100 billion in Special Drawing Rights (SDRs) for vulnerable nations.
    • It proposed to recycle SDRs from rich countries to poor countries, expanding the amount of concessional finance available for developing countries.
  • A Euro 2.5 billion Just Energy Transition Partnership deal was announced for Senegal, aiming to increase the share of renewable energy in the country's electricity mix to 40% by 2030.
  • Colombia and Kenya proposed a Global Expert Review on Debt, Nature, and Climate to assess the impact of debt on countries' capacity to address climate change and preserve nature.
  • Furthermore, it was suggested that the long-delayed goal of US $100 billion in climate finance would be achieved this year
  • The EU unveiled a call to action on ‘Paris Aligned Carbon Markets’ with the goal of covering at least 60% of global emissions with carbon pricing mechanisms for climate alignment.



Keywords: GS-3 Environment Conservation and Climate Finance
Daily Current Affairs

Cell Cultivated Chicken

In News: U.S. government approves selective companies to sell cell-cultivated chicken in the country

About Cell Cultivated Chicken:

  • Cell-cultivated chicken refers to chicken meat that is grown in a laboratory for human consumption.
  • It is a form of lab-grown meat produced by isolating and cultivating cells that makeup chicken meat.
  • Two California-based companies, Good Meat, and Upside Foods, have recently received approval from the S. government to make and sell cell-cultivated chicken.
  • Important Features:
    • Cell-cultivated meat is produced in bioreactors, which are containers designed to support a specific biological environment.
    • The cells are provided with necessary resources such as nutrients, fats, carbohydrates, amino acids, and the right temperature to grow and replicate themselves.
    • After reaching a sufficient cell count, typically within two to three weeks, the cells resemble minced meat and are processed with additives to improve texture and appearance.
  • Proponents of cell-cultivated meat argue that it can help reduce carbon emissions associated with the food industry and prevent animal slaughter.
  • Other benefits of Lab-grown meat include climate mitigation, land use reduction, food security, and customization for improved health.
  • However, there are challenges to this new concept including include consumer acceptance, cost competitiveness, resource requirements, and potential environmental impacts.
  • Overall, ongoing research and development will go a long way in addressing these challenges besides improving the viability of cell-cultivated meat as an alternative to traditional meat.

Keywords: GS-3: Science and Technology
Daily Current Affairs

SEBI Releases Compliance Rules For REITs and InvITs

In News: SEBI releases compliance reports for emerging investment vehicles - REITs and InvITs.

About compliance rules for REITs and InvITs:

  • Securities and Exchange Board of India (SEBI) has recently released compliance rules for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
  • These compliance rules focus on disclosure formats for governance and annual secretarial compliance
  • Major highlights:
    • REITs and InvITs will have to disclose the name of investment managers, board of directors' composition, and committee details on a quarterly basis.
    • Investment managers will be required to submit a quarterly compliance report to stock exchanges within 21 days from the end of each quarter.
    • The compliance report should be signed by the compliance officer or the CEO of the investment manager.
    • Investment managers have also been mandated to submit Annual secretarial compliance reports with SEBI.
    • A practicing company secretary must be appointed annually to examine compliance and submit report to the investment manager disclosing compliance, deviations, and observations.
  • The compliance rules will be effective from the financial year 2024 onwards and will promote transparency, accountability and investor’s confidence.
  • Overall, SEBI's compliance rules will help strengthen the regulatory framework for REITs and InvITs, besides enhancing the functioning of these investment vehicles.

Keywords: GS-3: Indian Economy: Regulatory Bodies, Finance
Daily Current Affairs

Digital Publisher Content Grievances Council (DPCGC)

Why in News: Recently, the Digital Publisher Content Grievances Council (DPCGC) has taken action against the Over-the-Top (OTT) platform ULLU for streaming obscene content and ordered to take down the same within 15 days.

Digital Publisher Content Grievances Council (DPCGC):

  • It is an officially recognized, independent self-regulatory body for Online Curated Content Providers (OCCPs).
  • It has been established in June 2021 under the aegis of Internet and Mobile Association of India (IAMAI).
  • It operates under the Ministry of Information & Broadcasting.
  • It follows the IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 and such other existing or new statutes and rules or regulations framed from time to time related to publishing of online curated content.
  • Its aim is to provide a redressal mechanism which ensures a balance between addressing viewer complaints and showcasing content in free-speech environment without ad-hoc interventions.

IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021:

  • It provides due diligence to be followed by an intermediary (including social media intermediary) while discharging it duties, Grievance Redressal Mechanism and Digital Media Code of Ethics.
  • These rules were notified by the Ministry of Electronics and Information Technology in February, 2021.

Constitutional Provisions:

  • Article 19(1)(a) – All citizens shall have the right to freedom of speech and expression.
  • Article 19(2) – Nothing in 19(1)(a) shall affect the operation of any law, or prevent the State from making any law, in so far as such law imposes reasonable restrictions on the exercise of the right conferred in the interest of the sovereignty and integrity of India, the security of the State, friendly relations with Foreign State, public order, decency or morality or in relation to contempt of court, defamation or incitement to an offence.

Keywords: GS – 2: Fundamental Rights, Governance
Daily Current Affairs

Lasers to Deliver Internet in Remote Areas

Why in News: Recently, Google parent company Alphabet started delivering internet service to remote areas by using Laser beams of light.

About the Project:

  • The project is known as Taara which is a part of Alphabet’s innovation called X or “Moonshot Factory”.
  • It was initiated in 2016 initially a part of project Loon. In India it has partnership with Airtel.
  • Project Loon was to deliver internet using stratospheric balloons. This project has been side-lined due to high costs.
  • This project is helping to link up internet services in 13 countries so far including Australia, Kenya and Fiji.
  • This project has deals with Econet Group and its subsidiary Liquid Telecom in Africa, internet provider Bluetown in India and Digicel in the Pacific Islands.
  • Google in July 2020 committed $10 billion for digitizing India. It invested $700 million for a 1.28% stake in Bharti Airtel last year. X and Google are sister companies under Alphabet, while Taara's partnership with Bharti Airtel is separate from the Google investment.

Technology used:

  • It uses Free Space Optical Communication (FSOC) technology where free space is used as communication channel.
  • The size of the machine is similar to that of traffic lights. This machine beam the laser carrying the data – essentially fiber-optic internet without the cables.
  • Partners like Airtel use the machine to build out communications infrastructure in hard to reach places.
  • The tested speed was achieved upto 20Gbps through upto 20 km range.


  • Cost effective and quickly deployable.
  • High Speed data transmission.
  • Effective in remote areas that are difficult to connect using fiber cables.


  • Weather conditions like fog and haze can affect the signal transmission.
  • Obstructions like birds or insects in front of the signal.

Way Forward:

  • It can be used for high speed data transfer and connectivity.
  • It can be a boon for the rural connectivity and will help to boost Digital Indian Mission.

Keywords: GS – 3: Science & Technology
Daily Current Affairs

Chennai-Vladivostok maritime route

In News: Recently, Union Minister for Ports, Shipping, and Waterways said India and Russia are keen to make the Chennai – Vladivostok maritime route operational, and a stakeholder has been scheduled in September.


  • The Chennai-Vladivostok maritime route is a proposed sea route connecting the Indian port city of Chennai and the Russian port city of Vladivostok.
  • The route is approximately 5,600 nautical miles (10,300 km) long and passes through the Sea of Japan, the South China Sea, and the Strait of Malacca.
  • The aim of the route is to increase bilateral trade between India and Russia, as well as to provide India with access to the Far East.
  • The route is expected to take only 12 days, compared to the current route's duration of 32 days.

Benefits of using the Chennai-Vladivostok maritime route:

  • It is shorter than the current route, which means that it will take less time and cost less money to transport goods between the two countries.
  • The route passes through less congested waters, which means that there is less risk of delays.
  • The route passes through waters that are not controlled by China, which gives India more options for trade.

Keywords: GS-3 Infrastructure Development
Daily Current Affairs

Income Tax (I-T) Rules amendment for Charitable institutions

In News: I-T department tweaks disclosure norms for charitable institutions claiming exemption.


CBDT has made several amendments (applicable from 1 October 2023) under which Charitable institutions have to:

  • Mention whether the activities undertaken are charitable, religious, or both to claim tax benefits.
  • Furnish details of donations received over Rs 2 lakh in a single day.
  • Under I-T law, income of charitable institutions and religious trusts, and medical and educational institutions are exempt from tax.
  • However, these institutions are required to seek registration from the I-T department.

The Income Tax (I-T) Rules were amended in 2023 to tighten the rules for charitable institutions. The amendments include:

  • Increased scrutiny of applications for registration: The Principal Commissioner or Commissioner of Income-tax will now have the power to examine the objects, genuineness of activities, and past compliances of the institutions before granting registrations.
  • Requirement for charitable institutions to donate 100% of the grant amount to other charities in order to avail full tax exemption. This is to plug a loophole that was being used by some charities to claim tax exemption on chain donations.
  • Exposure of charities to the provisions of 'exit tax: Charities are now liable to pay tax at 34.94% on the accreted income (FMV of assets less FMV of liabilities) upon violation of certain conditions (viz., change in objects, transfer of assets to non-charitable entities, etc.).
  • Changes to the forms that need to be filed by charitable institutions: New forms have been introduced for applications for registration, approval, and annual returns.

The amendments are aimed at ensuring that charitable institutions are used for their intended purpose and that tax benefits are not misused.

Key changes that were made to the Income Tax (I-T) Rules in 2023:

  • Rule 2C: This rule was amended to require charitable institutions to deposit 100% of the grant amount received from other charities into a separate bank account. This is to prevent the misuse of chain donations.
  • Rule 11AA: This rule was amended to require charitable institutions to file an annual return with the Principal Commissioner or Commissioner of Income-tax. The return must include information about the institution's activities, income, and expenditure.
  • Rule 17A: This rule was amended to require charitable institutions to get their accounts audited by a chartered accountant. The audit report must be filed with the Principal Commissioner or Commissioner of Income-tax.

The amendments to the Income Tax (I-T) Rules are a significant development for charitable institutions in India. The changes are aimed at ensuring that these institutions are used for their intended purpose and that tax benefits are not misused.

Keywords: GS-2 Indian Polity
Daily Current Affairs

UTPRERAK (Unnat Takniki Pradarshan Kendra)

In News: Power ministry establishes UTPRERAK, a Centre of Excellence to Accelerate Adoption of Energy Efficient Technologies in Indian Industry.


  • UTPRERAK has been set up by the Bureau of Energy Efficiency (BEE).
  • The Centre would implement and support projects in areas such as training/capacity building, showcase for energy-efficient technologies, information centre and knowledge repository etc.
  • Centre is mandated to become the key reference and resource institution on industrial energy-efficient technologies.

Keywords: GS- 3 Economy
Daily Current Affairs

Hyperspectral remote sensing (HRS) technology

In News: Agriculture Ministry Collaborates with Pixxel Space India which will focus on leveraging sample hyperspectral data from Pixxel’s pathfinder satellites to develop an analytics model.


  • The Ministry of Agriculture has entered into a Memorandum of Understanding (MoU) with a private company to utilize High-Resolution Spectroscopy (HRS) data for tasks such as crop mapping, distinguishing different stages of crops, and monitoring crop health.
  • HRS, also referred to as imaging spectroscopy, involves the extraction of valuable information from objects or landscapes on the Earth's surface through radiance captured by sensors on airborne or spaceborne platforms.
  • Unlike traditional remote sensing, which captures data in a limited number of discrete spectral bands, HRS collects data across numerous narrow and contiguous bands.
  • This enables the acquisition of highly detailed spectral information for precise location identification within the scene.

Keywords: GS- 3 Science and Technology
Daily Current Affairs

Debrigarh Wildlife Sanctuary

In News: Debrigarh Wildlife Sanctuary of Odisha records higher prey density


  • Debrigarh Wildlife Sanctuary is a protected area in the Sambalpur district of Odisha, India. It is located near the Hirakud Dam built on Mahanadi River.
  • The sanctuary is home to a wide variety of wildlife, including tigers, elephants, leopards, sambar deer, chital deer, wild boar, gaur, and many species of birds.

About Mahanadi River

  • The Mahanadi River system is the third largest of peninsular India after Godavari and Krishna, and the largest river of Odisha state.
  • The catchment area of the river extends to Chhattisgarh, Madhya Pradesh, Odisha, Jharkhand and Maharashtra.
  • Its basin is bounded by the Central India hills on the north, by the Eastern Ghats on the south and east and by the Maikala range in the west.
  • It rises from a place near Sihawa, near Raipur in the state of Chhattisgarh to the south of Amarkantak.
  • The Seonath, the Hasdeo, the Mand and the Ib joins Mahanadi from left whereas the Ong, the Tel and the Jonk joins it from right.

Keywords: GS- 3 Environment and Ecology
Daily Current Affairs

Guinea Bissau

In News: Recently, a French shipping major resumed service for cashew export from Guinea-Bissau to India and Vietnam.


  • Guinea-Bissau, officially known as the Republic of Guinea-Bissau, is a small West African country located on the Atlantic coast.
  • Guinea-Bissau is bordered by Senegal to the north, Guinea to the south and east, and the Atlantic Ocean to the west.
  • The country has a tropical climate and has diverse ecosystems, including coastal mangroves, savannahs, and dense forests.
  • The capital and largest city of Guinea-Bissau is Bissau. 


Keywords: GS-2 International Relation
Daily Editorial Analysis

Reforming Multilateral Development Banks

Exam View: Multilateral Development Banks; Broadening the scope of multilateralism; Equity in financing; Expansion of financing.

Context: Multilateral Development Banks (MDBs) need to address the challenges of climate change and developmental aspirations of the Global South else they will become irrelevant and be substituted by other forms of cooperation.


In their joint statement, President Joe Biden and PM Modi underscored the need to strengthen and reform the multilateral system to reflect contemporary realities.

  • Therefore, under India’s G20 presidency, the Expert Group on Strengthening MDBs comprises finance ministers and central bank governors.
  • The Expert Group proposes to submit two reports:
    • Issues of vision, financial capacity and modalities of funding the MDBs.
    • Issues related to harnessing private capital, risk mitigation, optimally using guarantees to leverage private capital and hybrid innovative financing.

Decoding the editorial: Multilateral Development Banks

Broadening the scope of multilateralism

  • MDBs are trapped in their procedures, approach and methods of work and reticent to structural changes.
  • Given their technical knowledge, experience and credibility in the financial sphere, they need to rediscover their role and methods.
  • The two traditional goals have been
    • the elimination of poverty and
    • fostering shared prosperity.
  • The new challenges are
    • transboundary issues and
    • opportunities connected with climate change.

Equity in financing

  • While broadening the mandate of MDBs is imperative, it should not be at the cost of available funding for traditional priorities, as they remain dominant concerns in LICs and even EMDCs, including India.
  • In this context, the Expert Group is calibrating different options, to ensure that concessional finance targeted towards LICs, is not compromised.
  • Each of these four requires different modes of financing and methods of work.

Expansion of financing

  • Need
    • Leaving aside the pandemic, the average annual lending commitments from MDBs to developing countries were about $120-130 billion.
    • The WBG estimates that the average annual spending needed to address global challenges of climate change, conflict, and pandemics is $2.4 trillion per year for developing countries between 2023 and 2030.
    • There is a need for a breakthrough to mobilise the $1 trillion per year in external finance needed by 2030 for emerging markets and developing countries (EMDCs), other than China.
  • Current status
    • For the IBRD, the amount of paid-in capital, so far, is just over $20 billion against which it has successfully undertaken lending operations of over $800 billion.
    • In 2022, the WBG gave loans of $428 billion against an equity (paid-in capital and retained earnings) of $267 billion.
    • In the same year, the Asian Development Bank gave loans of $144 billion against an equity capital of $54 billion.
  • Steps needed to enhance
    • The lending capacities of multilateral institutions needs to be enhanced.
    • The MDBs need to optimize their current balance sheets to create higher leverage from existing funds and to attract private capital.
    • They need to fix annual targets and judge performances by the outcomes secured in this altered framework of accountability.
    • There is a need to mobilize private capital.
      • On the demand side, there are concerns about moral hazards associated with private capital.
      • On the supply side, private capital is not immune to risks such as those associated with foreign exchange. Many projects, therefore, do not move forward because either the risk is too high or the return is too low.
      • De-risking approaches such as blended finance and guarantees aimed at tilting the balance do exist.
      • However, they imply a more intensive recourse to public and donor support. Concerns about unlocking private sector investments using public resources inevitably arise. Financial channels for capital mobilization, therefore, need to be strengthened.
    • Recapitalisation needs to be enhanced due to the broad principle that given the inescapable financial requirements after harnessing resources for balance sheet optimization as well as private capital, there would still be a need to recapitalize the banks.
    • There is also a need for creating an incentive structure and bring changes to the current operating model of the MDBs.
    • MDBs must work in close coordination with each other.

For India, reforming MDBs would mean advocating the voice of the Global South. Making MDBs more relevant for addressing 21st-century challenges would contribute towards enhancing human welfare.


Keywords: GS Paper-2: Important International Institutions.
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