{"id":15408,"date":"2021-05-27T00:00:00","date_gmt":"2021-05-27T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/27-05-2021\/facts-in-news-162\/"},"modified":"2021-05-27T00:00:00","modified_gmt":"2021-05-27T00:00:00","slug":"facts-in-news-162","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/27-05-2021\/facts-in-news-162","title":{"rendered":"Facts in News"},"content":{"rendered":"

\u00a0<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n
\n

Facts in News<\/u><\/strong><\/span><\/span><\/span><\/span><\/h2>\n<\/td>\n<\/tr>\n

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African Violet plant ( Environment & Ecology)<\/span><\/span><\/span><\/h3>\n<\/td>\n

\n

Recently, a new species of African Violet was found in Mizoram.<\/span><\/span><\/span><\/p>\n

Key Points<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • Scientific Name:<\/strong><\/span><\/span><\/span> Didymocarpus vickifunkiae (named after Vicki Ann Funk, a US-based botanist)<\/span><\/span><\/span><\/li>\n
  • It is an <\/span><\/span><\/span>endangered species<\/strong><\/span><\/span><\/span>.\u00a0<\/span><\/span><\/span>\n
      \n
    • It is an <\/span><\/span><\/span>epiphyte<\/strong><\/span><\/span><\/span> (a plant that grows on trees) and produces light pink flowers during the monsoons.<\/span><\/span><\/span><\/li>\n
    • Used as an indoor flower in European countries.<\/span><\/span><\/span><\/li>\n
    • Other names:<\/strong><\/span><\/span><\/span> Saintpaulias<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
    • Native Areas:<\/strong><\/span><\/span><\/span> Tanzania and Kenya (Africa).<\/span><\/span><\/span><\/li>\n<\/ul>\n

      <\/span><\/span><\/span><\/p>\n

      Image Courtesy: Almanac<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

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National Initiative for Developing and Harnessing Innovations (NIDHI) (Government Scheme)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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Recently, the <\/span><\/span><\/span>Department of Science and Technology (DST)<\/strong><\/span><\/span><\/span> under its initiative <\/span><\/span><\/span>NIDHI4COVID2.0<\/strong><\/span><\/span><\/span> (National Initiative for Developing and Harnessing Innovations) has invited applications from startups and companies for developing new technologies and innovative products to tackle the second wave of the Covid-19 pandemic.\u00a0<\/span><\/span><\/span><\/p>\n

NIDHI4COVID2.0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • Administered by:<\/strong><\/span><\/span><\/span> National Science and Technology Entrepreneurship Development Board (NSTEDB) under the DST.<\/span><\/span><\/span><\/li>\n
  • Objective:<\/strong><\/span><\/span><\/span> Support indigenous solutions and innovative products to combat the crisis the country is currently facing due to the pandemic.<\/span><\/span><\/span>\n
      \n
    • Promising startups will be provided with financial and mentoring support for scaling up their products or technologies.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
    • NIDHI is an umbrella program aimed at nurturing ideas and innovations (knowledge-based and technology-driven) into successful startups<\/span><\/span><\/span><\/li>\n<\/ul>\n

      Department of Science and Technology (DST)<\/u><\/strong><\/span><\/span><\/span><\/p>\n

        \n
      • Works under the Ministry<\/span><\/span><\/span> of Science and Technology<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n
      • Major work:<\/strong><\/span><\/span><\/span> To promote new areas of S&T and to play the role of a nodal department for organizing, coordinating, and promoting Scientific and Technological activities in the country.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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National Company Law Appellate Tribunal (NCLAT) (Governance)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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Recently, <\/span><\/span><\/span>the National Company Law Appellate Tribunal (NCLAT)<\/strong><\/span><\/span><\/span> has stayed the order of the National Company Law Tribunal (NCLT).<\/span><\/span><\/span><\/p>\n

National Company Law Appellate Tribunal (NCLAT)<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • It is a tribunal established under <\/span><\/span><\/span>Section 410 of the Companies Act 2013<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span>\n
      \n
    • Established in:<\/strong><\/span><\/span><\/span> 2016<\/span><\/span><\/span><\/li>\n
    • Headquarters:<\/strong><\/span><\/span><\/span> New Delhi<\/span><\/span><\/span><\/li>\n
    • Composition:<\/strong><\/span><\/span><\/span> Chairperson (should be\/been judge of the Supreme Court or should be\/been Chief Justice of the High Court) and not more than eleven members (judicial and technical members) in total.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
    • The Members shall be appointed on the recommendation of a Selection Committee consisting of:<\/span><\/span><\/span>\n
        \n
      • Chief Justice of India or his nominee\u2014Chairperson.<\/span><\/span><\/span><\/li>\n
      • A senior Judge of the Supreme Court or a Chief Justice of the High Court\u2014 Member.<\/span><\/span><\/span><\/li>\n
      • Secretary in the Ministry of Corporate Affairs\u2014Member.<\/span><\/span><\/span><\/li>\n
      • Secretary in the Ministry of Law and Justice\u2014Member.<\/span><\/span><\/span><\/li>\n
      • Secretary in the Department of Financial Services in the Ministry of Finance\u2014 Member.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
      • Term:<\/strong><\/span><\/span><\/span> 5 years for Chairperson and members and they can be reappointed for additional 5 years.<\/span><\/span><\/span><\/li>\n
      • The tribunal is responsible for hearing appeals from the orders of the <\/span><\/span><\/span>National Company Law Tribunals, Insolvency and Bankruptcy Board of India, and Competition Commission of India (CCI)<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n
      • Its decisions may be appealed to the <\/span><\/span><\/span>Supreme Court<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n<\/ul>\n

        National Company Law Tribunal (NCLT)<\/u><\/strong><\/span><\/span><\/span><\/p>\n

          \n
        • A <\/span><\/span><\/span>quasi-judicial body<\/strong><\/span><\/span><\/span> established in 2016 (on the recommendations of the <\/span><\/span><\/span>V. Balakrishna Eradi committee<\/strong><\/span><\/span><\/span>) under Section 408 of the <\/span><\/span><\/span>Companies Act, 2013<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span>\n
            \n
          • Principal Bench:<\/strong><\/span><\/span><\/span> New Delhi<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
          • Objective:<\/strong><\/span><\/span><\/span> Adjudicates issues relating to Indian companies.<\/span><\/span><\/span><\/li>\n
          • Composition of NCLT bench:<\/strong><\/span><\/span><\/span> President, 16 judicial members, and 9 Technical members.<\/span><\/span><\/span><\/li>\n
          • NCLT has to adjudicate the insolvency resolution process of companies and limited liability partnerships under the <\/span><\/span><\/span>Insolvency and Bankruptcy Code, 2016<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
\n

Argentine Ant (Science and Technology; Environment)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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Recently, the researchers have successfully detected the <\/span><\/span><\/span>environmental DNA (eDNA)<\/strong><\/span><\/span><\/span> of the Argentine ant in surface soil samples from Kobe\u2019s Port Island and Kyoto\u2019s Fushimi district (both in Japan).<\/span><\/span><\/span><\/p>\n

Argentine Ant<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • Native Areas:<\/strong><\/span><\/span><\/span> South America<\/span><\/span><\/span><\/li>\n
  • Scientific Name:<\/strong><\/span><\/span><\/span> Linepithema humile<\/span><\/span><\/span><\/li>\n
  • It is an <\/span><\/span><\/span>invasive species<\/strong><\/span><\/span><\/span> and can cause a threat to pollinators.<\/span><\/span><\/span><\/li>\n
  • The <\/span><\/span><\/span>IUCN<\/strong><\/span><\/span><\/span> (International Union for Conservation of Nature and Natural Resources) ranks it as one of the <\/span><\/span><\/span>world\u2019s worst 100 invasive species<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n<\/ul>\n

    <\/span><\/span><\/span><\/p>\n

    Image Courtesy: Gardners Path<\/strong><\/span><\/span><\/span><\/p>\n

    Environmental DNA (eDNA)<\/u><\/strong><\/span><\/span><\/span><\/p>\n

      \n
    • It is organismal DNA that can be found in the environment.<\/span><\/span><\/span><\/li>\n
    • Environmental DNA analysis allows researchers to comprehensively identify species that reside in an area, even if they no longer live there.\u00a0<\/span><\/span><\/span><\/li>\n
    • This in turn enables them to estimate and gain an understanding of the target species\u2019 distribution.\u00a0<\/span><\/span><\/span><\/li>\n
    • Environmental DNA surveys are used in a wide range of research fields, including species conservation, ecology, taxonomy, microbiology, and paleontology.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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Tigray Region (IR)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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Recently, Ethiopia\u2019s Tigray region is facing famine.<\/span><\/span><\/span><\/p>\n

Key Points<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • Ethiopia is Africa\u2019s most populous country after Nigeria.<\/span><\/span><\/span><\/li>\n
  • Tigray region is located in <\/span><\/span><\/span>northern Ethiopia<\/strong><\/span><\/span><\/span>.\u00a0<\/span><\/span><\/span>\n
      \n
    • This region is the homeland of the Tigrayan, Irob, and Kunama peoples.\u00a0<\/span><\/span><\/span><\/li>\n
    • Language:<\/strong><\/span><\/span><\/span> Tigrinya<\/span><\/span><\/span><\/li>\n
    • Border Areas:<\/strong><\/span><\/span><\/span> Eritrea (North), Sudan (West), the Amhara Region (South), and the Afar Region (East and South East).<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
    • In early November 2020, the region and the Ethiopian federal government entered into conflict, with some gunfire being reported in the capital of Tigray, Mekelle.<\/span><\/span><\/span><\/li>\n<\/ul>\n

      <\/span><\/span><\/span><\/p>\n

      Image Courtesy: Voa News<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

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Ricochet Impact (Indian Economy)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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Recently, the <\/span><\/span><\/span>International Monetary Fund (IMF)<\/strong><\/span><\/span><\/span> chief said that emerging-market nations\u2019 struggle to move out of the COVID-19 pandemic-induced economic crisis can hurt developed and advanced nations.<\/span><\/span><\/span><\/p>\n

    \n
  • This struggle has been termed as the <\/span><\/span><\/span>\u201cRicochet impact\u201d<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span>\n
      \n
    • Now, poorer nations are faced with the risk of interest rates increasing while their economies aren\u2019t growing, and may find themselves \u201creally strangled” to service debt, especially if it\u2019s dollar-denominated<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

      Ricochet<\/u><\/strong><\/span><\/span><\/span><\/p>\n

        \n
      • It is a rebound, bounce, or skip off a surface, particularly in the case of a projectile.<\/span><\/span><\/span><\/li>\n<\/ul>\n

        International Monetary Fund (IMF)<\/u><\/strong><\/span><\/span><\/span><\/p>\n

          \n
        • Established in:<\/strong><\/span><\/span><\/span> 1945<\/span><\/span><\/span><\/li>\n
        • Headquarters:<\/strong><\/span><\/span><\/span> Washington DC, United States.<\/span><\/span><\/span><\/li>\n
        • Objectives:<\/strong><\/span><\/span><\/span> reducing global poverty, encouraging international trade, and promoting financial stability and economic growth. The IMF has three main functions: overseeing economic development, lending, and capacity development.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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SEBI to appoint forensic auditors for listed firms (Indian Economy)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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Recently, SEBI has released a notification to appoint forensic auditors for conducting forensic audits.<\/span><\/span><\/span><\/p>\n

    \n
  • The purpose is to conduct <\/span><\/span><\/span>forensic audits<\/strong><\/span><\/span><\/span> of the financial statements of listed companies.<\/span><\/span><\/span><\/li>\n
  • During a forensic audit, an auditor seeks to derive evidence that could potentially be used in court.<\/span><\/span><\/span><\/li>\n
  • A forensic audit is used to <\/span><\/span><\/span>uncover criminal behavior such as fraud or embezzlement<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n<\/ul>\n

    Securities and Exchange Board of India (SEBI)<\/u><\/strong><\/span><\/span><\/span><\/p>\n

      \n
    • It is the <\/span><\/span><\/span>regulatory body for the securities and commodity market in India<\/strong><\/span><\/span><\/span>, and it is a <\/span><\/span><\/span>statutory body<\/strong><\/span><\/span><\/span> established by an act of Parliament, SEBI Act, 1992.<\/span><\/span><\/span>\n
        \n
      • Established in:<\/strong><\/span><\/span><\/span> 1992<\/span><\/span><\/span><\/li>\n
      • Headquarters:<\/strong><\/span><\/span><\/span> Mumbai<\/span><\/span><\/span><\/li>\n
      • Administered by:<\/strong><\/span><\/span><\/span> Ministry of Finance\u00a0<\/span><\/span><\/span><\/li>\n
      • Composition:<\/strong><\/span><\/span><\/span> Chairman and 8 other members<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
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K Shaped Recovery (Indian Economy)<\/span><\/span><\/span><\/h3>\n<\/td>\n

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After facing downfall due to COVID-19 and lockdown-like restrictions, not India\u2019s real estate sector sees a <\/span><\/span><\/span>K-shaped recovery<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/p>\n

Key Points<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • A K-shaped recovery happens when different sections of an <\/span><\/span><\/span>economy recover at starkly different rates<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n
  • The economic performance of different sectors, industries, and groups within an economy always differ to some extent, but in a K-shaped recovery, some parts of the economy may see strong growth while others continue to decline.<\/span><\/span><\/span><\/li>\n
  • A K-shaped recovery describes the path of different disaggregated economic variables, such as income across different segments of society or employment in different industries.<\/span><\/span><\/span><\/li>\n<\/ul>\n

    <\/span><\/span><\/span><\/p>\n

    Image Courtesy: Business Insider<\/strong><\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

    \u00a0 Facts in News African Violet plant ( Environment & Ecology) Recently, a new species of African Violet was found in Mizoram. Key Points Scientific Name: Didymocarpus vickifunkiae (named after Vicki Ann Funk, a US-based botanist) It is an endangered species.\u00a0 It is an epiphyte (a plant that grows on trees) and produces light pink […]<\/p>\n","protected":false},"author":1,"featured_media":15409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[30,26,25],"class_list":["post-15408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-2","tag-gs-3","tag-gs1"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/3752152current-affairs.jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=15408"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/15409"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=15408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=15408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=15408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}