DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 25th September 2023
Archives (PRELIMS & MAINS Focus) Fatehpur Sikri Syllabus Prelims – Art and Culture Context: Recently A 61-year-old French tourist died inside the Fatehpur Sikri fort after she fell from a nine-feet-high platform following the collapse of a wooden railing. About Fatehpur Sikri: Location: It is a city predominantly in red sandstone, situated at a distance of 37 km from Agra, Uttar Pradesh. Founder: Mughal emperor Akbar in 1569. Designated a UNESCO World Heritage site in 1986. The structures has combined elements of Persian, Indian, and Central Asian styles. It served as the Mughal Empire’s capital from 1571 to 1585. When Akbar returned from his Gujarat campaign victorious in 1573, the city was renamed Fatehpur Sikri, or the City of Victory, to commemorate the victory. The Fatehpur Sikri complex include: Jama Masjid: It is home to the Jama Masjid, one of the largest mosques in India. It is known for its imposing structure, graceful arches, and intricately designed prayer hall. Buland Darwaza: This colossal gateway, also known as the “Gate of Magnificence,” is an iconic monument of Fatehpur Sikri. It was built to commemorate Akbar’s victorious campaign in Gujarat and is a grand example of Mughal architecture. Diwan-i-Khas and Diwan-i-Aam: These are two prominent buildings within the complex. The Diwan-i-Khas (Hall of Private Audience) was where Akbar held private meetings, while the Diwan-i-Aam (Hall of Public Audience) was for conducting public affairs. Panch Mahal: This five-storied palace is a unique structure with open pavilions on each level. It served as a place for relaxation and entertainment. Source: Hindustan Times Basel-III capital framework Syllabus Prelims – Economy Context: The RBI recently introduced norms on the Basel III capital framework for All India Financial Institutions (AIFIs), which will come into effect from 2024. About Basel III: Basel III is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09 in order to strengthen the regulation, supervision and risk management of banks. Basel III standards are minimum requirements which apply to internationally active banks. Objective: The guidelines aim to promote a more resilient banking system by focusing on four vital banking parameters viz. capital, leverage, funding and liquidity. Capital: The capital adequacy ratio is to be maintained at 12.9%. The minimum Tier 1 capital ratio and the minimum Tier 2 capital ratio have to be maintained at 10.5% and 2% of risk-weighted assets respectively. Leverage: The leverage rate has to be at least 3 %. The leverage rate is the ratio of a bank’s tier-1 capital to average total consolidated assets. Funding and Liquidity: Basel-III created two liquidity ratios: LCR and NSFR. The liquidity coverage ratio (LCR) will require banks to hold a buffer of high-quality liquid assets sufficient to deal with the cash outflows encountered in an acute short term stress scenario as specified by supervisors. This is to prevent situations like “Bank Run”. The goal is to ensure that banks have enough liquidity for a 30-days stress scenario if it were to happen. The Net Stable Funds Rate (NSFR) requires banks to maintain a stable funding profile in relation to their off-balance-sheet assets and activities. NSFR requires banks to fund their activities with stable sources of finance (reliable over the one-year horizon). The minimum NSFR requirement is 100%. Therefore, LCR measures short-term (30 days) resilience, and NSFR measures medium-term (1 year) resilience. Deadline for India to adopt: March 2019 but it was postponed to March 2020 in light of the coronavirus pandemic. About AIFIs: AIFI is a group composed of financial regulatory bodies that play a pivotal role in the financial markets by assisting the proper allocation of resources, sourcing from businesses that have a surplus and distributing to others who have deficits. They act as an intermediary between borrowers and final lenders, providing safety and liquidity. India has five AIFIs regulated by the central bank: National Bank for Financing Infrastructure and Development (NaBFID) National Housing Bank (NHB) Small Industries Development Bank of India (SIDBI) Export-Import Bank of India (EXIM Bank) National Bank for Agriculture and Rural Development (NABARD) Source: The Hindu Dudhwa Tiger Reserve Syllabus Prelims – Environment and Ecology Context: The endangered Indian Skimmer was recently spotted near Zalim Nagar Bridge along the Ghaghra River at Dudhwa Tiger Reserve, Uttar Pradesh (UP). About the Indian Skimmer: It is an unusual-looking bird with a striking red, orange beak where the lower bill is longer than the upper bill. Distribution: Globally found in the coastal estuaries of western and eastern India, and Bangladesh. Food: fish, larvae, insects, and shrimps. Habitat: It favours slow-moving rivers with sandbar habitats formed seasonally during summers, around lakes and adjacent marshes, estuaries, and coasts. Breeding: Between February to June and raise one to three chicks per clutch. Conservation Status: IUCN: Endangered (EN) Wildlife Protection Act, 1972 : Schedule I About Dudhwa Tiger Reserve: Location: Spread across the Lakhimpur Kheri and Bahraich districts of Uttar Pradesh. Rivers: The Sharda River flows by the Kishanpur WL Sanctuary, the Geruwa River flows through the Katerniaghat WL Sanctuary and the Suheli and Mohana streams flow in the Dudhwa National Park, all of which are tributaries of the mighty Ghagra River. It was considered as a tiger reserve in 1987. Vegetation: The vegetation is of the North Indian Moist Deciduous type, containing some of the finest examples of Sal forests (Shorea robusta) in India. Flora: The flora is predominantly Sal forest along with its associate tree species like Terminalia alata (Asna), Lagerstroemia parviflora (Asidha), Adina cordifolia (Haldu), Mitragyna parviflora (Faldu), Gmelina arborea (Gahmhar), Holoptelea intgrifolia (Kanju) etc. Fauna: Guldar, Tiger, Fishing cat, Monkey, Langur, Mongoose, Small Indian Mongoose, small Indian civet, Jackal etc. Birds include Dabchick, spotbilled pelican, Large cornorant, Little cormorant, Grey Heron, White stork, Black storck, White Ibis etc. Reptiles include Mugger, Ghariyal, Python, Sandboa, Banded krait, Russel’s viper, Rat snake etc. Source: India Times Five Eyes Alliance Syllabus Prelims – International Relations Context: Recently US ambassador to Canada has claimed that “shared intelligence among Five Eyes
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