Top News Highlights- 1 August 2024

Massive Landslides in Wayanad, Kerala

• Cause: Extremely heavy rain triggered landslides.
• Region: Wayanad district in the Western Ghats, the second most vulnerable region to landslides in India.
• Impact: High soil depth and steep slopes in the Western Ghats contribute to frequent landslides during the monsoon.
• Statistics: Approximately 0.42 million sq. km (12.6% of India’s land area) is prone to landslide hazards (Geological Survey of India).

FAO Releases Updated Integrated Fire Management (IFM) Guidelines

• Key Principles: Economic efficiency, environmental considerations, equity, and human health.
• Strategic Actions: Pre-fire actions, planned fire, awareness programs, and knowledge transfer.
• Initiatives: The National Landslide Risk Management Strategy and the National Landslide Forecasting Centre.

China Completes 400-Meter Bridge Near Pangong Lake

• Location: Near the Line of Actual Control (LAC) in Ladakh.
• Purpose: Facilitates rapid movement of Chinese troops between the North and South banks of Pangong Lake.
• Border Dispute: India and China have differing perceptions of the LAC length (3,488 km vs. 2,000 km).

RBI Issues Directions on Wilful Defaulters and Large Defaulters

• Objective: Ensure a transparent procedure for classifying borrowers as wilful defaulters.
• Statistics: 16,883 accounts involving Rs 3.5 lakh crore classified as wilful defaulters as of March 2023.
• Measures: Criminal proceedings, denial of additional credit, and preventive measures for credit appraisal and fund use monitoring.

SEBI Consultation Paper on Index Derivatives

• Need: Address excessive speculative trading and increased retail participation.
• Proposals: Increase in minimum contract value and limit strike prices to prevent scattering of trading activity.
• Statistics: Household savings loss through derivatives trading is estimated at ₹50,000–₹60,000 crore.

Atomic Energy Regulatory Board (AERB) Grants Permission for PFBR

• Location: Kalpakkam, Tamil Nadu.
• Significance: The 500 MWe sodium-cooled Prototype Fast Breeder Reactor (PFBR) marks the start of stage II of India’s nuclear power program.
• Technology: Utilizes Uranium-Plutonium Mixed Oxide (MOX) fuel and breeds more fuel through nuclear transmutation.

National Apprenticeship and Training Scheme (NATS) 2.0 Portal Launched

• Objective: Facilitate registration and application for apprenticeships.
• Features: Offers practical training for 6 months to 1 year with a reimbursable stipend.
• Outcome: Apprentices receive a Certificate of Proficiency upon completion.

World Heritage Committee (WHC) Session Outcomes

• New Additions: Moidams from Assam added to the World Heritage List.
• India’s Contribution: Pledged $1 million to UNESCO World Heritage Centre.
• Cultural Agreement: India and the US signed the first ‘Cultural Property Agreement’ to prevent antiquities trafficking.

Key Terms and Policies

• National Landslide Risk Management Strategy: A comprehensive plan by NDMA for managing landslide risks.
• National Landslide Forecasting Centre (NLFC): Launched to operationalize Landslide Early Warning Systems nationwide by 2030.
• Integrated Fire Management (IFM): A strategy by FAO for managing wildfire risks, focusing on economic, environmental, equity, and health aspects.
• Wilful Defaulter: A borrower who defaults despite having the capacity to pay, diverts or siphons off funds, or fails to infuse equity.