Daily Current Affairs for UPSC – 6 April 2023

Daily Current Affairs for UPSC 2023

Q) Recently seen in news, the term ‘syndicated loan’ refers to which one of the following:

1. A loan given to reduce the negative impacts of inflation.
2. A loan which a group of companies have defaulted.
3. A loan offered by a group of lenders who work together.
4. A loan offered for development of new-age technology.

Daily Current Affairs for UPSC – 5 April 2023

Explanation:

• Option (3) is correct: A syndicated loan, or a syndicated bank facility, is financing offered by a group of lenders, called a syndicate, who work together to provide funds for a borrower. The borrower can be a corporation, a large project, or a sovereign government. Reliance Industries Ltd., and its telecom arm Jio Infocomm have raised a $5 billion in India’s largest syndicated loan. The loan can involve a fixed amount of funds, a credit line, or a combination of the two. Syndicated loans arise when a project requires too large a loan for a single lender or when a project needs a specialized lender with expertise in a specific asset class. Because they involve such large sums, syndicated loans are spread out among several financial institutions to mitigate the risk in case the borrower defaults. Interest rates on this type of loan can be fixed or floating, based on a benchmark rate such as the London Interbank Offered Rate (LIBOR). LIBOR is an average of the interest rates that major global banks borrow from each other.

Q) With reference to North Atlantic Treaty Organization (NATO), consider the following statements:

1. Any nation that wants to join NATO must be moving closer to having a market economy.
2. Recently, North Macedonia and Finland joined NATO as its new members.
3. The approval of all the members of NATO is necessary to include a new member in the organization.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. 1, 2 and 3

Explanation:

• Statement 1 and 3 are correct: North Atlantic Treaty Organization (NATO) was formed in 1949 with the aim of acting as a deterrent to the threat of Soviet expansion in Europe after World War II. The Washington Treaty or North Atlantic Treaty forms the basis of the NATO. The organization acts as a collective security alliance with the aim of providing mutual defense through military and political means if a member state is threatened by an external country. Article 10 of the North Atlantic Treaty prescribes the following as requirements for joining NATO as a member:
• New members must uphold democracy, including tolerating diversity.
• New members must be making progress toward a market economy.
• Their military forces must be under firm civilian control.
• They must be good neighbors and respect sovereignty outside their borders.
• They must be working toward compatibility with NATO forces.

NATO membership normally involves a long process, and it requires unanimous approval, which equals the approval of all 31 existing allied countries.

• Statement 2 is incorrect: Finland officially became the 31st member of the North Atlantic Treaty Organization (NATO), marking a major shift in the security landscape in northeastern Europe. Finland shares an 832-mile border with Russia. Adding Finland to NATO will more than double the size of NATO’s border with Russia; and it will double security on the border. North Macedonia became a NATO member in 2020. The 12 founding members of NATO are the United States, the United Kingdom, Belgium, Canada, Denmark, France, Iceland, Italy, Luxembourg, the Netherlands, Norway, and Portugal.

Q) Consider the following statements about Lumpy Skin Disease:

1. It is a zoonotic disease spread by vectors like flies and ticks.
2. It affects the lymph nodes of the infected animal, causing them to enlarge.
3. It can spread by contaminated fodder or through artificial insemination.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. 1, 2 and 3

Explanation:

• Statement 1 is incorrect: Lumpy skin disease is caused by the lumpy skin disease virus (LSDV), which belongs to the genus capripoxvirus, a part of the poxviridae family (smallpox and monkeypox viruses are also a part of the same family). It is not a zoonotic virus, meaning the disease cannot spread to humans. It is a contagious vector-borne disease spread by vectors like mosquitoes, some biting flies, and ticks and usually affects host animals like cows and water buffaloes.
• Statements 2 and 3 are correct: Lumpy skin disease affects the lymph nodes of the infected animal, causing the nodes to enlarge and appear like lumps on the skin. The disease can either spread through direct contact with the vectors or through contaminated fodder and water. It can spread through animal semen during artificial insemination. The disease was first observed in Zambia in 1929, subsequently spreading to West Asia, Southeastern Europe, and Central Asia, South Asia and China. There has been stagnation in milk production and scarcity of ghee in India due to the prevalence of lumpy skin disease. In India, ‘Goat Pox Vaccine’ is being used across affected States to contain the spread of LSD.

Q) With reference to Lokpal, consider the following statements:

1. Lokpal is a constitutional body which inquire into allegations of corruption against public servants.
2. Lokpal can investigate any society or trust that receives foreign contributions above Ten lakh rupees.
3. The salary, allowances, and other conditions of service of the Chairperson are the same as those of a Judge of the Supreme Court.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 only
3. 1 and 3 only
4. 1, 2 and 3

Explanation:

• Statement 1 is incorrect: Lokpal is a statutory body established under the Lokpal and Lokayuktas Act 2013 to inquire and investigate into allegations of corruption against public functionaries. The Lokpal has power of search and seizure and also powers under the Civil Procedure Code for the purpose of conducting preliminary inquiry & investigation. It has powers to attach assets and take other steps for eradication of corruption. Lokpal will have power of superintendence and direction over any central investigation agency including CBI for cases referred to them by the Lokpal.
• Statement 2 is correct:Lokpal has authority to investigate any society or trust or body that receives foreign contribution above Rs 10 lakh. To investigate charges of corruption against a person who is or has been a Prime Minister, or a Minister in the Union government, or a Member of Parliament, as well as officials of the Union Government under Groups A, B, C and D. Chairpersons, members, officers and directors of any board, corporation, society, trust or autonomous body either established by an Act of Parliament or wholly or partly funded by the Union or State government come under the jurisdiction of Lokpal.
• Statement 3 is incorrect:A recent Parliamentary report has highlighted that about 68% corruption complaints against public functionaries taken up with Lokpal were “disposed of” without any action in the past four years. The salary, allowances and other conditions of services of the Chairperson are the same as that of Chief Justice of India. The salary, allowances and other conditions of services of other members are the same as that of a Judge of the Supreme Court.

Q) Consider the following statements:

1. It is one of the biodiversity hotspots of the Western Ghats.
2. Both tropical and subtropical moist broadleaf forests can be found here.
3. The Anamalai Hills and Nelliampathy Hills are prominent ranges within the area.

Which one of the following Tiger Reserve is described in the statements given above?

1. Periyar Tiger Reserve
2. Mundanthurai Tiger Reserve
3. Megamalai Tiger Reserve
4. Parambikulam Tiger Reserve

Explanation:

• Option (4) is correct: Recently Kerala High Court has ordered to capture, radio-collar, and relocate an elephant to the Parambikulam Tiger Reserve. Parambikulam Tiger Reserve is a protected area located in the Palakkad district of Kerala. It is one of the biodiversity hotspots of the Western Ghats and is known for its tropical and subtropical moist broadleaf forests. The reserve is home to a diverse range of flora and fauna, including Bengal tigers, Indian elephants, sloth bears, Indian gaur, and several species of primates. The Anamalai Hills and Nelliampathy Hills are prominent ranges within the reserve. The highest peak in the reserve is Karimala Gopuram, which stands at an altitude of 1,443 meters. The reserve features several perennial rivers, including the Parambikulam, Sholayar, and Thekkady Rivers. The reservoir formed by the dam is an important source of water for the wildlife in the reserve.The reserve is home to several wetlands, including the Thoonakkadavu and Nedukkayam wetlands, which provide a habitat for a wide variety of water birds.

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