DAILY CURRENT AFFAIRS ANALYSIS

04 March 2022

. No.	Topic Name	Prelims/Mains
1.	ABOUT THE ASIAN INFRASTRUCTURE INVESTMENT BANK	Prelims & Mains
2.	ABOUT THE SOLAR CONJUCTION EVENT	Prelims & Mains
3.	DETAILS OF THE DEFENCE ACQUISITION PROCESS	Prelims & Mains
4.	ABOUT SAMARTH RAMDAS	Prelims & Mains
5.	VILLAGE DEFENCE GROUPS IN JAMMU	Prelims & Mains

 

1 – ABOUT THE ASIAN INFRASTRUCTURE INVESTMENT BANK:

GS II

Topic – International Relations

• Context:
• In the context of the present war in Ukraine, the Asian Infrastructure Investment Bank (AIIB) has put all activities involving Russia and Belarus on pause and is reviewing them.
• The AIIB defined the situation in Ukraine as “war in Ukraine,” the closest any Chinese government-affiliated entity has come to using the term “invasion” to describe the situation in the east European country.
• The following are the consequences of such sanctions:
• Russians are more disconnected from the rest of the world after years of living in a developing, globally connected economy.
• Following President Vladimir Putin’s invasion of Ukraine, the European Union and the United States imposed a slew of sanctions, as well as an exodus of foreign corporations and investors, isolating and economically constraining Russia.
• Long lineups formed around ATMs across Russia for many days as individuals rushed to withdraw cash — both foreign money and rubles — amid fears that electronic banking would fail.
• As many people’s savings dwindled, the ruble’s value dropped to a historic low of less than one penny.
• All Russians are prohibited from sending foreign money overseas, and exporters must convert 80 percent of their foreign currency revenues for rubles, according to the Kremlin.
• Russian consumers are noticing early price rises for several products, particularly electronics and appliances, on social media.
• Many workers working for international companies in Russia have been worried about not being able to get paid after the first batch of major Russian banks were kicked out of the interbank SWIFT system in order to target oil and gas profits.
• What exactly is AIIB:
• The Asian Infrastructure Investment Bank (AIIB) is an international development bank tasked with improving social and economic results in Asia and beyond.
• The Bank’s Membership is made up of the parties to the agreement (57 founding members).
• Beijing is the bank’s headquarters.
• The bank began operations after the agreement went into effect on December 25, 2015, with ratifications from ten member states accounting for 50 percent of the Authorized Capital Stock initial subscriptions.
• Aim:
• It seeks to connect people, services, and markets that will influence billions of lives and build a better future by investing in sustainable infrastructure and other productive industries now.
• Membership:
• There are now over 100 members.
• Source – The Hindu

2 – ABOUT THE SOLAR CONJUCTION EVENT:

GS III

Topic – Science and Technology

• Context:
• Scientists from ISRO’s various units used ‘S-band’ radio signals from Mangalyaan, India’s Mars probe, to investigate the solar corona and pinpoint the spot on the sun where the temperature rapidly rises.
• The specifics have yet to be revealed.
• The study’s importance:
• The researchers took advantage of the solar conjunction event, which occurs when the Earth and Mars are on opposing sides of the Sun.
• The radio signals from Mangalyaan pass into the solar corona — about 10 solar radii or roughly 69,57,000 km from the Sun’s center — during conjunction occurrences, which happen once every two years for Mars.
• This gives scientists a once-in-a-lifetime chance to investigate solar processes. Each solar radius is approximately 6,95,700 kilometers long.
• What is the meaning of Solar Conjunction:
• It is the time when Earth and Mars are veiled from each other by the Sun’s fiery orb as they continue their endless orbit around the Sun.
• Like dancers on opposite side of a massive bonfire, the two planets are temporarily invisible to each other.
• Every two years, the sun and the moon align.

• Source – The Hindu

3 – DETAILS OF THE DEFENCE ACQUISITION PROCESS:

GS III

Topic – Internal Security

• Context:
• The government has given in-principle clearance to a slew of indigenous defense projects that will involve industry design and development in a fresh push for self-reliance in the defense sector.
• The defence ministry has approved nine such projects, four under the ‘Make-I’ category of the Defense Acquisition Procedure 2020 and five under the ‘Make-2’ category.
• Development of light tanks, communication equipment that adheres to Indian security norms, an aerial electro-optical pod with a ground-based system, and airborne stand-off jammers are among the projects that have been approved.
• 2020 DAP:
• From October 1, the new policy replaced the Defense Procurement Procedure of 2016.
• In order to modernize the Armed Forces, including the Coast Guard, the DAP provides policies and processes for purchase and acquisition from the MoD’s capital budget.
• The following are some of the highlights of the new policy:
• Reservations for indigenous businesses: The policy makes provisions for indigenous businesses in a number of procurement sectors.
• DAP 2020 defines a “Indian vendor” as a company that is owned and controlled by Indian citizens and has less than 49 percent foreign direct investment (FDI).
• Category: New Buy (Global–Manufactured in India):
• This mandates the indigenization of at least 50% of the total contract value of a foreign purchase made with the intention of constructing it in India with knowledge transfer.
• Greater indigenous content in military procurements:
• It encourages greater indigenous content in military procurements, including equipment manufactured in India under license. DAP-2020 mandates a 10% increase in indigenisation over DPP 2016 in most purchase categories.
• Import ban list:
• The government issued a “import embargo list” of 101 commodities last month, which has been particularly incorporated into DAP 2020. (An embargo is a government order that bans trade or the exchange of specific items with a specific country.)
• Offset liability:
• If a deal is done through an inter-government agreement (IGA), government-to-government, or an ab initio single vendor, the government has elected not to include an offset clause.
• A foreign vendor must invest a portion of the contract value in India under the offset clause.

• Source – The Hindu

4 – ABOUT SAMARTH RAMDAS:

Prelims Specific Content

• Several Maharashtra politicians have spoken out against state Governor B S Koshyari’s statements that Samarth Ramdas was Chhatrapati Shivaji Maharaj’s guru.
• Sant (saint) Ramdas or Ramdas Swami were other names for Samarth Ramdas.
• He was a Hindu saint, poet, philosopher, writer, and spiritual master from India’s Marathi community.
• He worshipped the Hindu gods Rama and Hanuman. Previously, he was known as Narayan.
• He was born in the village of Jamb, which is now part of the Maharashtra district of Jalna.
• Karunashtakas, Dasbodh, Yuddhakand, Sunderkand, Poorvarambh, Antarbhav, Chaturthman, Aatmaaram, Panchman, Panchsamasi, Manpanchak, Janaswabhawgosavi, and others are among his literary works.
• Ramdas influenced a number of 19th and 20th century Indian thinkers, historians, and social reformers, including Bal Gangadhar Tilak, Rajwade, Keshav Hedgewar, and Ramchandra Ranade.

• Source – The Hindu

5 – VILLAGE DEFENCE GROUPS IN JAMMU:

Prelims Specific Content

• Before the Union Territory delimitation process begins, residents of Jammu and Kashmir’s villages will be enrolled for local defense. The formation of village defense groups (VDG) has been permitted by the government.
• VDGs will be established to respond to threats in regions where local police presence is sparse.
• Each VDG will be made up of 8 to 10 members of the same rank and pay, which will be credited to their accounts on a monthly basis by the government.
• The current system of assigning 1 or 2 VDGs to special police personnel will be phased out.
• The VDGs will also conduct operations in the Kashmir valley.

• Source – The Hindu