4-January-2024-Daily-Current-Affairs

SC UPHOLDS SEBI PROBE, TURNS THE SPOTLIGHT ON HINDENBURG’S ‘CONDUCT’

GS 2 (POLITY AND GOVERNANCE): SOURCE – THE HINDU

The Supreme Court upheld a probe by the Securities and Exchange Board of India (SEBI) into Hindenburg Research’s activities, focusing on potential law violations and losses suffered by Indian investors in the Adani Group. The judgment addresses petitions highlighting a decline in investor wealth following Hindenburg’s report accusing the Adani Group of share price manipulation and regulatory violations.

        Key Points:

SEBI Investigation:

• The court directed SEBI and investigating agencies to examine Hindenburg’s conduct and take suitable action if any legal violations led to losses for Indian investors.
• An expert committee found SEBI’s investigation into the Adani Group, prompted by the Hindenburg report, comprehensive and inspiring confidence.

Impact on Market Volatility:

• The court noted that Adani stock volatility had individual-scale effects but did not lead to broader market volatility, especially when compared to global trends during the COVID-19 pandemic.
• Chief Justice Chandrachud dismissed the need for transferring the investigation to another agency or forming a Special Investigation Team.

Timely Completion of Investigations:

• SEBI was ordered to complete the pending investigations, preferably within three months, emphasizing the need for a conclusive and time-bound inquiry.

SEBI’s Regulatory Amendments:

• Petitioners’ claims that SEBI’s regulatory amendments hindered the investigation were rejected, with the court dismissing allegations of opening and later plugging a regulatory loophole.

Unverified Claims:

• Claims based on investigative findings by external entities and media reports were deemed unverified and lacking authenticity.

Allegations of Conflict of Interest:

• Allegations of conflict of interest against members of the Justice A.M. Sapre Committee were dismissed as not worthy of serious consideration.

Conclusion:

The Supreme Court’s judgment validates SEBI’s investigative actions into the Adani Group, emphasizing the need for a thorough and timely completion of the inquiry. While addressing concerns raised by petitioners, the court underscores the importance of verified claims and rejects allegations impacting the credibility of the investigation committee members.

TRUMP PROMISES TO BEGIN LARGEST DOMESTIC DEPORTATION OPERATION

GS 2 (INTERNATIONAL RELATIONS): SOURCE – THE HINDU

Donald Trump, former U.S. President, is promising the initiation of the most extensive domestic deportation operation in American history, surpassing the 1950s’ “Operation Wetback.” This operation targeted immigrants, particularly Mexicans, using a term now considered a racial slur. Trump’s rhetoric on immigrants, branding them as threats and disease carriers, intensifies as he seeks a second term.

Key Points

Historical Reference – Operation Wetback:

• Operation Wetback, conducted in the Eisenhower era, involved mass deportations of immigrants, notably Mexicans, using a derogatory term referring to those crossing the Rio Grande.

Trump’s Promises and Rhetoric:

• Trump praises past raids without explicitly naming them, vowing to surpass their scale, presenting it as a solution to immigration challenges.
• His speeches portray immigrants as criminals and disease carriers, using inflammatory language to emphasize perceived threats.

Political Motivations:

• Critics argue Trump selectively uses historical fragments and rhetoric for political gain while downplaying his administration’s deportation shortcomings.

Failure to Execute Mass Deportations:

• Despite promises, Trump’s administration faced challenges in executing large-scale deportations, raising questions about the feasibility of his latest pledge.

Conclusion:

Donald Trump’s commitment to a historic deportation operation echo past controversial initiatives. However, critics argue that his focus on historical rhetoric serves political motives while downplaying practical challenges and previous shortcomings in deportation efforts. The immigration discourse remains a central theme as Trump positions himself for political relevance.

NIGER STRUGGLES TO KEEP ITS TRADITIONAL RHYTHM BEATING

GS 2 (INTERNATIONAL RELATIONS): SOURCE – THE HINDU

Niger faces a struggle in preserving its traditional rhythm as modern influences and socio-cultural shifts threaten its musical heritage.             

• Oumarou Adamou, renowned as Maidouma, excels in playing the douma, a traditional percussion instrument.
• While he serves as a global ambassador for Niger’s musical legacy, the younger generation is drawn more towards rap and electronic music.
• Declining interest in deciphering traditional drumbeats, coupled with the preference for computer-based composition over traditional apprenticeships, poses a challenge.
• Diplomatic tensions and a growing strict interpretation of Islam further contribute to the fading vitality of Niger’s rich musical traditions, exacerbated by a caste system restricting instrument playing to specific groups like the griots, now marginalized.

BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES

GS 2 (INTERNATIONAL RELATIONS): SOURCE – INDIAN EXPRESS

In 2023, Bangladesh significantly increased its coal-fired power production, almost tripling the output to address severe power shortages and mitigate rising generation costs.

     

• The shift towards coal was driven by economic constraints, hindering the affordability of cleaner fuel options like natural gas, furnace oil, and diesel.
• The analysis of daily operational reports from the Power Grid Company of Bangladesh revealed a record 21 billion kilowatt-hours (kWh) of electricity generated from coal, up from 7.9 billion kWh in 2022.
• Coal’s share in the power generation mix rose from 8.9% in 2022 to 14.2% in 2023, while the share of natural gas increased to 55.2%.
• Despite this, natural gas faced challenges due to high international prices and diminishing local reserves, resulting in an overall surge of nearly 40% in power shortages.

CO2 LEVEL IN A PLANET’S ATMOSPHERE COULD INDICATE HABITABILITY

GS 3 (ENVIRONMENT): SOURCE – THE INDIAN EXPRESS

New research suggests that the carbon dioxide (CO2) levels in a planet’s atmosphere might be an indicator of habitability. A study led by the University of Birmingham and MIT proposes a ‘habitability signature’ based on the relative amount of CO2 compared to neighbouring planets.

Key Points:

CO2 and Liquid Water:

• Lower CO2 levels compared to neighbouring planets could signify the presence of liquid water on a planet’s surface.
• A drop in CO2 might indicate absorption by an ocean or isolation by biomass on a planetary scale.

Habitability Signature:

• The international team of researchers introduces a ‘habitability signature’ as a practical method for detecting habitability.
• This signature allows the identification of planets capable of hosting liquid water, a key factor for potential life support.

Habitable Zone:

• Planets in the habitable zone, neither too close nor too far from their star, are considered ideal for supporting liquid water on the surface.
• CO2 measurements can help determine the likelihood of oceans on such planets.

CO2 Measurement:

• CO2 in a planet’s atmosphere absorbs infrared light, making it measurable and comparable across different planets.
• Comparing CO2 levels enables the identification of planets with oceans, increasing the chances of supporting life.

Conclusion:

Understanding the CO2 levels of planets can provide valuable insights into habitability, environmental tipping points, and potential biosignatures. This research contributes to our ability to identify planets with conditions suitable for hosting liquid water, a crucial factor in the search for extraterrestrial life.

 BIODIVERSITY CREDIT ALLIANCE (BCA)

GS 3 (ENVIRONMENT): SOURCE – INDIAN EXPRESS

The Biodiversity Credits Alliance (BCA) is advocating for the use of biodiversity credits (biocredits) to finance targets within the Kunming-Montreal Global Biodiversity Framework (KMGBF).

                     

• Biocredits offer a potential mechanism to fund conservation, restoration, and interventions addressing drivers of biodiversity loss, including habitat degradation.
• The BCA, launched at the 15th Conference of Parties (COP15) to the UN Convention on Biological Diversity (CBD) in 2022, is a voluntary international alliance.
• It aims to establish a voluntary biocredit market by developing a framework based on high-level, science-based principles.
• This approach aligns with efforts to enhance biodiversity conservation through innovative financing strategies.

WARLI TRIBE

GS 3 (SOCIETY): SOURCE – THE INDIAN EXPRESS

The Warli Tribe in Maharashtra has set a remarkable example of peaceful coexistence with leopards near the Sanjay Gandhi National Park.

• The tribe reveres leopards, known as Waghoba, as deities.
• The Warli tribe, one of Maharashtra’s largest tribes, resides on the outskirts of Mumbai in the North Sahyadri region.
• Renowned for their Warli wall paintings, this traditional art form dates back to the 10th century AD.
• Inspired by daily life and surroundings, Warli paintings utilize natural materials and colors, employing bamboo brushes for their creations.
• The tribe’s harmonious relationship with leopards reflects their deep-rooted cultural