Prelim Bits 25-03-2024 | UPSC Daily Current Affairs

Exchange traded fund vs Mutual Fund

SEBI has directed mutual fund houses to stop accepting any more inflows in schemes that invest in overseas exchange-traded funds (ETFs), starting April 1, 2024.

• Exchange Traded Funds (ETFs)- They are marketable securities, it is a type of pooled investment security that can be bought and sold much like an individual stock.
• Investment cap- The directive comes as the mutual industry has already reached 95% (950 million dollars) of the 1 billion dollars limit
• RBI’s overall cap- Mutual funds have overall cap of 7 billion dollars for overseas investments with a separate 1 billion dollars cap for ETFs.

Reference

    Indian Express- SEBI halts overseas ETF

Arresting the Chief Ministers

Delhi Chief Minister Aravind Kejriwal was recently arrested by the Enforcement Directorate (ED) in an excise policy case linked money laundering case

• A chief minister is permitted certain privileges within prison, such as making official phone calls and accessing crucial documents.
• Representation of People’s Act, 1951- It outlines disqualification provisions for certain offences, but a conviction is a prerequisite for anyone holding the office.
• Disqualification- The Act says that a person convicted for an offence and sentenced to 2 years or above shall be disqualified from the date of such conviction.
• Electoral disqualification- It says the lawmaker shall continue to be disqualified for a further period of 6 years after his release.
• Article 361- President and Governor enjoy constitutional immunity from civil and criminal proceedings until the completion of their term.
• This immunity does not extend to Prime Ministers or Chief Ministers, as they are regarded as equals under the Constitution's principle of the Right to Equality before the law.
• Despite this, they are not automatically disqualified solely by virtue of an arrest.
• Delhi framework- Delhi is a Union Territory not a State, it operates under a unique constitutional framework outlined in Articles 239 AA and 239 AB of the Indian Constitution.
• Article 239 AB- The Lieutenant Governor can seek Presidential intervention potentially leading to the imposition of President’s rule.
• S. Ramachandran versus vs Senthil Balaji- The Madras High Court delved into the ethical and moral considerations surrounding a minister’s right to hold office who is accused in ‘cash for jobs scam’.
• The Court referred Manoj Narula vs Union of India case 2014, which had held that the basic norm for holding a public office was constitutional morality, good governance and constitutional trust.
• The Madras High Court had agreed that citizens expect, and “legitimately so”, that persons in power had high standards of moral conduct. It had described the role of a Chief Minister as “the repository of the people’s faith”.

References

1. Indian Express- ED arrests Delhi CM
2. The Hindu- Can Kejriwal continue to be CM

Hyperloop Technology

A Switzerland-based hyperloop company Swisspod Technologies signed a memorandum of understanding (MoU) with TuTr Hyperloop, a spin-off of IIT Madras to develop hyperloop systems in India.

• Origin- It is a proposed ultra-high-speed, ground-level, solar-powered cargo and mass transportation system conceptualized in 2013 by American entrepreneur Elon Musk.
• Technology- It is the 5^th mode of transportation Hyperloop which works on a technology that would use magnetic levitation in low-pressure tubes to transport people and goods at airplane-like speeds.
• Maglev- It is the system in which the vehicle runs levitated from the guide way (corresponding to the rail tracks of conventional railways).

• Need- It seeks to eliminate the limitations of friction and air resistance, enabling high-speed travel with minimal energy.
• Low-pressure system- Elon Musk’s design proposes a more practical low-pressure system as opposed to a full vacuum, using an electric compressor fan for pressure maintenance and air bearings for low friction2.
• Capsule movement-Capsules are propelled at high speeds within a low-pressure tube, lifted by air cushions, requiring minimal external acceleration except for initial speed gain and periodic boosts.
• Components-
  • Tube- A partially evacuated cylindrical tube serves the purpose that tracks do in a conventional railway system.
  • Capsules/ pods- They are sealed vessels used to transport passengers and/or cargo.
  • Stations- They are constructed for the boarding and unboarding of passengers and cargo.
• Active infrastructure- It is used in  maglev systems, requires magnets to be installed along the entire track length which can lead to exorbitant costs and heightened risks, as the failure of even a single magnet could compromise the entire system's reliability.
• Passive infrastructure- Swisspod technologies adopt this approach which involves placing electromagnets on the vehicle itself, eliminating the need for magnets along the track.
• Benefits- It is a safer, faster, economical, convenient, weather and disaster-resistant, sustainable, and non-Disruptive Travel.

Reference

    Indian Express- Selling point for hyperloop

Hepatitis B

Millions of people living with chronic hepatitis B are unaware they have the virus.

• Hepatitis – It means inflammation of the liver.
• Heavy alcohol use, toxins, some medications, and certain medical conditions can cause hepatitis.
• Types of hepatitis
  • Viral hepatitis - Hepatitis A , B, C, D and E
  • Non-viral hepatitis - Autoimmune hepatitis, alcoholic hepatitis, and drug-induced hepatitis.

• Hepatitis B – Caused by the hepatitis B virus.
• Types - The infection can be acute (short and severe) or chronic (long term).
• Transmission – Through contact with infected body fluids like blood, saliva, vaginal fluids and semen.
• From mother to child during birth, body fluids during sex with an infected partner, unsafe injections or exposures to sharp instruments.
• Symptoms - Yellowing of the skin and eyes (jaundice), dark urine, feeling very tired, nausea & vomiting, pain in the abdomen, etc.
• Prevention - There are vaccines to prevent hepatitis A and hepatitis B but there is no vaccine available for hepatitis C.
• Treatment - There is no specific treatment for acute hepatitis B. Chronic hepatitis B infection can be treated with oral medicines, including tenofovir or entecavir.

Hepatitis D, also known as “delta hepatitis,” only occurs in people who are also infected with the hepatitis B virus.

References

1. Down to Earth- Hepatitis B
2. WHO- Hepatitis B
3. CDC- Hepatitis

ISIS- K

The Islamic State Khorasan (ISIS-K) has claimed responsibility for the attack at Moscow’s Crocus City Hall which resulted in at least 143 deaths and hundreds injured.

• Emergence- ISIS-K emerged in eastern Afghanistan in late 2014 and quickly established a reputation for extreme brutality.
• Khorasan- It refers to an ancient caliphate in the region that today encompasses parts of Afghanistan, Iran, Pakistan and Turkmenistan.
• Primary motive- It seeks to destabilize, overthrow, and supplant existing governments in the historic Khorasan region with the goal of creating a Caliphate in South and Central Asia, governed by a strict interpretation of Islamic sharia law, which they plan to expand beyond the region.
• Threat- ISIS-K has been a significant threat to the Taliban’s authority despite a decline in membership since 2018 due to losses inflicted by the United States and the Taliban.

Major high profile attacks

• Kabul airport attack, 2021- It occurred during the US’s withdrawal from Afghanistan, resulting in the deaths of US troops and at least 175 Afghan civilians.
• Russian embassy bombing, 2022- A suicide bombing at the Russian embassy in Kabul.
• Kerman Bombings, 2024- Twin bombings in Kerman, Iran, which claimed the lives of nearly 100 people.

References

1. Indian Express- Who is ISIS-K?