DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 12th September 2023
Archives (PRELIMS & MAINS Focus) Phanigiri artifacts Syllabus Prelims –ART AND CULTURE Context: The Phanigiri artifacts, belonging to 200 BCE-400 CE were put on display at the New York Metropolitan Museum of Art. Background:- The Phanigiri artifacts would be displayed in the art collection of the Tree and Serpent exhibition, which began at the New York Metropolitan Museum of Art (popularly known as The Met) in July 2023. The exhibition has 125 objects between 200 BCE and 400 CE. The exhibition at The Met is on till November 13, 2023. About the Phanigiri artifacts:- Discovered: 1942. Rediscovered: 2003. Location: Phanigiri, Phanigiri in Suryapet district is a small village of about 4,000 residents, about 150 km from Hyderabad. The Phanigiri Buddhist site is considered one of the most important finds in Buddhist iconography in this millennium. (Buddhist monastery complex at Bharatpur of Bengal) Phanigiri means the hillock of snake hood. Key Findings and their Significance:- The thoranas discovered at Phanigiri are very important as they are among the first found south of Sanchi. The same thorana has a panel that shows both the Mahayana and Hinayana school of thought. This shows that despite philosophical differences, both sects co-existed in Phanigiri. There is evidence from Phanigiri that shows the deification of Buddha. (The Buddhist Circuit) The change from a historical and spiritual identity and a transition to canonization and ritual is evident in Phanigiri. The artifacts from this site, include a limestone carving of Buddha wearing what appears to be a Roman toga. MUST READ: Buddhist caves, temples in Madhya Pradesh’s Bandhavgarh Tiger Reserve SOURCE: THE HINDU PREVIOUS YEAR QUESTIONS Q.1) In which one of the following regions was Dhanyakataka, which flourished as a prominent Buddhist centre under the Mahasanghikas, located? (2023) Andhra Gandhara Kalinga Magadha Q.2) With reference to ancient India, consider the following statements: (2023) The concept of Stupa is Buddhist in origin. The stupa was generally a repository of relics. The stupa was a votive and commemorative structure in Buddhist tradition. How many of the statements given above are correct? Only one Only two All three None Central Bank Digital Currency (CBDC) Syllabus Prelims –Economy Context: The Reserve Bank of India (RBI) is working with lenders to introduce new features to popularise the central bank digital currency (CBDC), in recent times. About Central Bank Digital Currency (CBDC):- CBDC is fiat money or money established/backed by a government through its central bank in a virtual form. It is a legal tender issued by a central bank in a digital form. It combines the power of blockchain with the logistics of distributed ledger technology (DLT), where data can be synchronized across multiple locations without the need for centralized storage. Salient Features:- CBDC is a high-security digital instrument. It is a means of payment, a unit of account, and a store of value. Just like paper currency, each unit is uniquely identifiable to prevent counterfeiting. It is a liability of the central bank just as physical currency is. It’s a digital bearer instrument that can be stored, transferred, and transmitted by all kinds of digital payment systems and services. Advantages:- CBDC is a faster system. Financial inclusion Improve Monetary policy facilitation. It can become a regional currency for cross-border transactions. MUST READ: Rupee SOURCE: THE INDIAN EXPRESS PREVIOUS YEAR QUESTIONS Q.1) With reference to Central Bank digital currencies, consider the following statements: (2023) It is possible to make payments in a digital currency without using the US dollar or the SWIFT system. A digital currency can be distributed with a condition programmed into it such as a timeframe for spending it. Which of the statements given above is/are correct? 1 only 2 only Both 1 and 2 Neither 1 nor 2 Q.2) In the context of finance, the term ‘beta’ refers to: (2023) the process of simultaneous buying and selling of an asset from different platforms. an investment strategy of a portfolio manager to balance risk versus reward a type of systemic risk that arises where perfect hedging is not possible a numeric value that measures the fluctuations of a stock to changes in the overall stock market. Marine pollution Syllabus Prelims –ENVIRONMENT AND ECOLOGY Context: Small island nations seek for protection from Marine /ocean pollution, and climate change in the United Nations recently. Background:- Small island nations that have been disproportionately harmed by the climate crisis will go up against high-emitting nations A landmark climate justice case started its hearing in the United Nations maritime tribunal in Hamburg, Germany, on September 11, 2023. About Marine pollution:- Marine pollution can be defined as the contamination of marine water, mainly big seas and oceans with pollutants and contaminants like industrial effluents, oil spills from huge vessels, chemical displacements, chemical spills, sewage, etc. Causes:- Sewage: Sewage or polluting substances flow through sewage, rivers, or drainages directly into the ocean. Industries: Industrial waste which is directly discharged into the oceans, results in ocean pollution. The runoff from industries raises the temperature of the ocean and causes thermal pollution due to which aquatic animals and plants have difficulty surviving at higher temperatures. Land Runoff: Land-based sources (such as agricultural run-off, discharge of nutrients and pesticides, and untreated sewage including plastics) account for approximately 80% of marine pollution. Oil Spills: Crude oil lasts for years in the sea and is extremely toxic to marine life, it suffocates the marine animals to death. Ocean Mining: Ocean mining sites drilling for silver, gold, copper, cobalt, and zinc create sulfide deposits up to three and a half thousand meters down into the ocean. Harmful Effects of Marine Pollution:- Reduction of oxygen level in the water: Most of the waste dumped in oceans uses up oxygen to decompose thereby decreasing the oxygen level in the water. Affects the oceanic food chain: Agricultural & and industrial waste enters the seawater and affects organisms. Upset the coral reef cycle. Oil spills that cover the surface of seawater do not allow sunlight to reach oceanic plants Prevention of Marine Pollution:- Puttin a stop
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