Daily Current Affairs for 22nd July 2021

GS PAPER II

Indian Council of Medical Research (ICMR)

Why in News

Recently, Indian Council of Medical Research (ICMR) conducted its fourth nationwide serological survey, found that two-third of Indians above the age of 6 had SARS-C0V-2 antibodies in June-July.

Key Points

• The survey results also suggest that about 40 crore people or one-third of the country’s population is still vulnerable to the novel coronavirus.
• The survey findings are significant as it is the first-time children aged 6-17 years were included in the national serosurvey.

Highlights of the survey

• The aim of the survey was to estimate the sero-prevalence of SARS-C0V-2 antibodies.
• The survey was conducted in June and July, 2021 across 70 districts of 21 states. These are the same districts where three earlier rounds have been conducted during May-June (2020); August-September (2020); and December-January (2020-2021).
• For the first time children aged 6-17 years were included in the survey.
• The overall sero-prevalence in the country was 67.6% in June and July, which is higher than the sero-prevalence rate recorded during the three earlier surveys – 0.7% during May-June (2020); 7.1% during August-September (2020); and 24.1% during December-January (2020-2021).
• Findings of the survey suggest that two-third of the general population above 6 years have SARS-CoV-2 antibodies, which means that two-third of Indians have been exposed to novel coronavirus.
• It also shows that one-third of the population does not have antibodies, which suggests that about 40 crore people are still vulnerable to the novel coronavirus.
• States/districts/areas without antibodies run the risk of infection waves.
• The survey also shows that sero-prevalence was similar in rural and urban areas. It also suggests that 85% healthcare workers had antibodies against SARS-CoV-2.
• The survey findings shows that more than half of the children (6 -17 years) were seropositive. It means they have been exposed to Covid-19 in the past months.
• The sero-prevalence among children was 57.2 per cent in the age group 6-9 years and 61.6 per cent in the age group 10-17 years.

Indian Council of Medical Research (ICMR)

• The Indian Council of Medical Research (ICMR) is the apex body of India for the formulation, coordination and promotion of biomedical research.
• It is one of the oldest and largest medical research bodies in the world.
• In 1911, the Government of India set up the Indian Research Fund Association (IRFA) with the specific objective of sponsoring and coordinating medical research in the country.
• Later in 1949, it was redesignated the Indian Council of Medical Research (ICMR), considerably expanded scope of functions.
• The ICMR is funded by the Government of India through the Department of Health Research, Ministry of Health and Family Welfare.
• In 2007 the organization established the Clinical Trials Registry – India, which is India’s national registry for clinical trials.

GS PAPER II

Post-Brexit Trade Deal

Why in News

Recently, the United Kingdom’s government has demanded the European Union re-negotiate post-Brexit trading arrangements for Northern Ireland after rioting and business disruption hit the restive province.

Key Points

• Demand raised by the United Kingdom to the European Union immediately rejected.
• The Northern Ireland protocol was part of the Brexit settlement, backed by Prime Minister Boris Johnson, that finally sealed Britain’s divorce from the EU four years after voters backed leaving in a referendum.
• The EU has long insisted that it is up to London to implement what it agreed in their drawn-out Brexit divorce.
• London had stopped short of suspending the so-called Northern Ireland Protocol, which requires checks on goods crossing over from mainland Britain.
• It wants the European Union to indefinitely abandon ad­hoc grace periods for certain border checks and freeze legal action launched against the U.K. for non­compliance, as part of a “standstill period” allowing for fresh negotiations.
• In its proposals, Britain urged the EU to stop broad checks and focus more squarely on goods “genuinely” at risk of entering its single market via Northern Ireland.
• The government insisted for all other goods, a light touch was needed to preserve Northern Ireland’s integral status as part of the U.K.
• It also wants the removal of any oversight role by the European Court of Justice.

BREXIT

• ‘Brexit’ is the name given to the United Kingdom’s departure from the European Union. It is a combination of ‘Britain’ and ‘exit’.
• The UK joined the European Economic Community which is a regional organisation that aimed to bring about economic integration among its member states in 1973, which then became part of the European Union when it was created in 1993.
• However, the UK had always maintained a distance from the EU. It has its own currency – the pound sterling and refrained from joining the Schengen agreement, which removes internal border controls within the EU.
• The political fraternity in Britain always included people who were opposed to the idea of EU and this opposition intensified after the 2008 financial crisis.
• Immigration of migrants from poorer EU states and the fear of refugees from Syria, Africa and the Middle East further intensified scepticism among voters and the politicians.
• In 2012, the then-Prime Minister of UK promised to hold a referendum on whether the UK should remain in the EU or leave it and the UK held the referendum on June 23, 2016.
• Up to and including 31 December 2020 a transition period was in place. During that time nothing changed and the UK continued to comply with all EU laws and rules. Negotiations were also held on the new relationship between the UK and the EU during this time.
• On 31^st January 2020, the United Kingdom left the European Union.
• In 2020 the EU and the UK reached an agreement on their new partnership. It sets out the rules that apply between the EU and the UK as of 1 January 2021.
• On 27 April 2021 the European Parliament gave final approval to the EU-UK Trade and Cooperation Agreement.
• On 29 April 2021 the European Council approved the conclusion of the agreement by way of a Council Decision.
• As a result, the agreements between the UK and the EU came into force on 1^st May 2021.

Impact of BREXIT on India

• India has had strong historical ties with the UK and currently it is one of India’s most important trading partners.
• The UK is an entry point for India to the EU. With the UK’s withdrawal from the EU, no one can predict anything with certainty.
• The move of BREXIT will be an opportunistic event for India. It is expected that it will act as a catalyst between India and the UK and also for India and the EU to modify or reset the legal terms of its trade with both.
• According to experts, India’s services sector is likely to make gains from the curbs on the free movement of professionals between the two markets.
• According to the Brexit trade and security deal, UK nationals will no longer have unrestricted freedom to work, study, start a business or live in the EU and vice versa, although both sides will have tariff-free and quota-free access to each other’s market.
• Sectors such as IT, R&D, architecture and financial services are likely to shine for India.
• As per one of the reports by NASSCOM, “Indian IT industry is going to experience a negative influence in the short term due to BREXIT.” The return of these companies is going to be affected because of the depreciation of the pound.

Conclusion

• Northern Ireland, which suffered three decades of sectarian conflict until a peace agreement in 1998, has been rocked by violence in 2021, in part against the protocol.
• The protocol was painstakingly negotiated to avoid a hard border with Ireland, by effectively keeping Northern Ireland in the EU’s single market.

GS PAPER III

English city of Liverpool

Why in News

Recently, UNESCO has been removed the English city of Liverpool from World Heritage Sites.

Key Points

• The English city of Liverpool has been removed from the World Heritage Sites after the United Nations’ cultural agency found new buildings, including a football stadium, undermined the attractiveness of its Victorian docks.
• The only other sites stripped previously of the title are a wildlife sanctuary in Oman in 2007 after poaching and habitat loss, and the Dresden Elbe Valley in Germany in 2009 when a four­lane motorway bridge was built over the river.
• Liverpool was named a World Heritage Site in 2004, joining cultural landmarks such as the Great Wall of China and the Taj Mahal.

English city of Liverpool

• 
• Liverpool is a city and metropolitan borough in Merseyside, England and is tenth-largest English district by population.
• Its metropolitan area is the fifth-largest in the United Kingdom, with a population of 2.24 million.
• In 2019, Liverpool was ranked fifth on the list of the most visited UK cities.
• Liverpool has rich architectural heritage and is home to many buildings regarded as amongst the greatest examples of their respective styles in the world.
• Several areas of the city centre were granted World Heritage Site status by UNESCO in 2004.
• Referred to as the Liverpool Maritime Mercantile City, the site comprises six separate locations in the city including the Pier Head, Albert Dock and William Brown Street and includes many of the city’s most famous landmarks.
• The areas of the heritage site were the world’s major trading centres in the 18th and 19th centuries, a testimony to the development of maritime mercantile culture.
• The modern dock technology, transport systems and port management were the significant features of the maritime city.

Reason of removal

• In 2012, however, the World Heritage Committee sounded alarm bells over the proposed construction of Liverpool Waters, a massive redevelopment of the historic docklands north of the city centre.
• While moving it to the list of world heritage in danger, the committee warned that the redevelopment project would “alter the skyline and profile of the site.
• The project has since gone ahead along with other developments both inside the site and in its buffer zone.
• Liverpool has become the third property to lose its world heritage status after Dresden in Germany and the Arabian Oryx Sanctuary in Oman.

United Nations Educational, Scientific and Cultural Organization (UNESCO)

• The United Nations Educational, Scientific and Cultural Organization (UNESCO) is a specialised agency of the United Nations (UN) founded in 1945 as the successor to the League of Nations’ International Committee on Intellectual Cooperation.
• It aimed at promoting world peace and security through international cooperation in education, the sciences, and culture.
• It has 193 member states and 11 associate members as well as partners in the non-governmental, inter-governmental, and private sector.
• Headquartered at the World Heritage Centre in Paris, France, UNESCO has 53 regional field offices and 199 national commissions that facilitate its global mandate.
• UNESCO’s programmes contribute to the achievement of the Sustainable Development Goals defined in Agenda 2030, adopted by the UN General Assembly in 2015.

History of UNESCO

• In 1942, during the Second World War, the governments of the European countries, which were confronting Nazi Germany and its allies, met in the United Kingdom for the Conference of Allied Ministers of Education (CAME).
• Upon the proposal of CAME, a United Nations Conference for the establishment of an educational and cultural organization (ECO/CONF) was convened in London from 1 to 16 November 1945.
• Finally, at the end of the conference, the UNESCO was institutionalised on 16 November 1945 and its first session was held at Paris in between November-December of 1946.

GS PAPER III

Insolvency and Bankruptcy Board of India (IBBI)

Why in News

The Insolvency and Bankruptcy Board of India (IBBI) recently have been amended the “Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations”.

Key Points

• The amendment in “Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations” is done to enhance the transparency in the insolvency process.
• These amendments were aimed at enhancing “the discipline, transparency, and accountability in corporate insolvency proceedings”.
• A resolution professional was duty­bound to find out if a Corporate Debtor (CD) had been subject to avoidance transactions, namely, preferential transactions, undervalued transactions, extortionate credit transactions, fraudulent trading and wrongful trading, and file applications with the adjudicating authority seeking appropriate relief.
• This not only claws back the value lost in such transactions increasing the possibility of reorganisation of the CD through a resolution plan, but also disincentivises such transactions preventing stress to the CD.
• For effective monitoring, the amendment requires the RP to file Form CIRP 8 on the electronic platform of the Board, intimating details of his opinion and determination in respect of avoidance transaction.

Insolvency and Bankruptcy Board of India (IBBI)

• The Insolvency and Bankruptcy Board of India was established on 1^st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
• It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.
• It is a unique regulator: regulates a profession as well as processes. It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities.
• It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.
• It has recently been tasked to promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information utilities and other institutions, in furtherance of the purposes of the Code.
• It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.

Insolvency and Bankruptcy Code, 2016 (Code)

• Definition of Bankruptcy:
• The legal status of an entity or a person where the debt owed to the creditors cannot be repaid is known as Bankruptcy.
• A court order imposes bankruptcy in most of the jurisdictions. It is mostly initiated by the debtor.
• It is important to note that bankruptcy is not synonymous with insolvency. It is not the only legal status that could be applicable to an insolvent individual or an entity.
• In countries like the UK, bankruptcy is exclusive to individuals. Liquidation, administration and other such insolvency proceedings are applicable to entities and companies.
• The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.
• Objectives of IBC:
• To consolidate and amend all existing insolvency laws in India;
• To simplify and expedite the Insolvency and Bankruptcy Proceedings in India;
• To protect the interest of creditors including stakeholders in a company;
• To revive the company in a time-bound manner;
• To promote entrepreneurship;
• To get the necessary relief to the creditors and consequently increase the credit supply in the economy;
• To work out a new and timely recovery procedure to be adopted by the banks, financial institutions or individuals;
• To set up an Insolvency and Bankruptcy Board of India; and
• Maximization of the value of assets of corporate persons.

GS PAPER III

Akash surface-to-air missile

Why in News

A new generation of Akash surface-to-air missile was successfully flight-tested by the DRDO from an integrated test range off the Odisha coast in a boost to air defence capabilities.

Key Points

• Separately, the DRDO also successfully flight-tested an indigenously developed low weight man portable anti­tank guided missile, paving the way for its production for the Army.
• The “flawless performance” of its weapons system was confirmed by the complete flight data.
• Once deployed, the Akash­NG weapon system will prove to be a force multiplier for the air defence capability of the IAF.
• The new variant of the Akash missile (Akash­NG) has a slightly better range compared to the original version that can strike targets at a distance of around 25 km.
• The missile is being developed to strengthen the combat capabilities of the Indian Army.
• In a major boost towards ‘Aatmamirbhar Bharat’ and strengthening of Indian Army, the DRDO successfully flight-tested indigenously developed low weight, fire and forget Man-Portable Antitank Guided Missile (MPATGM) on 21^st July.

Akash missile

• The Akash (sky) is a mid-range surface-to-air missile (SAM) system built by India’s state-owned Defence Research and Development Organisation (DRDO).
• The missile was developed under the integrated guided-missile development programme (IGMDP). The programme also involved the development of the Nag, Agni and Trishul missiles, as well as the Prithvi ballistic missile.
• The Indian Air Force successfully test-fired the Akash missile from the integrated test range (ITR) at Chandipur, Orissa, India in May 2012.
• The missile has since been successfully test fired in ripple mode against a floating object launched by a pilotless target aircraft in May 2014.