28 December 2023

• Indian overseas labour: Analysis showed 13 million Indians work abroad. Greece needs 70,000 agricultural workers and Israel plans to hire 42,000 Indians for construction.
• SEBI settlement: SEBI proposed T+0 (same-day) settlement for stock trades by April 2024, moving beyond the current T+1 system.
• Zoo expansion: Nandankanan Zoological Park received approval to receive cheetahs and African lions from Dubai Safari Park.
• Space: UPI Tap and Pay via NFC technology went live on BHIM and Paytm.

GS area: Economy, International Relations

Analysis of India's overseas labour markets showed significant demand from new destinations:

• Total overseas Indians: About 13 million Indian nationals work abroad.
• UAE: The largest destination with about 35 lakh (3.5 million) Indian workers.
• Greece: Seeking 70,000 agricultural workers from India. The Greece-India bilateral labour agreement provides a structured pathway.
• Israel: Plans to recruit 42,000 Indian construction workers under a bilateral arrangement, potentially expanding.
• India's bilateral labour agreements: India has signed 17 labour agreements with foreign countries between 2015 and 2023 covering skills certification, social security portability, and worker protections.
• Government support: Pravasi Kaushal Vikas Yojana (PKVY) provides skills training for overseas employment. Budget 2023-24 announced 30 Skill India International Centres.

Static linkage: India's foreign policy, diaspora, employment and labour.

GS area: Economy (capital markets)

SEBI announced a proposal for T+0 (same-day) stock market settlement:

• Current system: India moved from T+2 to T+1 (next-day) settlement for equity shares in 2023, ahead of most major markets.
• T+0 Phase 1: Trades executed until 1:30 PM to settle by 4:30 PM the same day.
• T+0 Phase 2 (instant): Immediate trade-by-trade settlement, effectively shortening the settlement cycle to minutes.
• Benefits: Reduces counterparty risk. Frees margin capital faster. Reduces the systemic risk of accumulated unsettled trades.
• Challenges: Requires real-time funds and securities verification, integrated with Aadhaar-linked demat accounts and instant banking transfers.

Static linkage: Capital markets, SEBI, financial regulation.

GS area: Environment, Ecology

Nandankanan Zoological Park in Odisha received approval to receive cheetahs and African lions from Dubai Safari Park:

• Nandankanan: Located 15 km from Bhubaneswar. Established in 1960. The first Indian zoo to join the World Association of Zoos and Aquariums (WAZA).
• World's first captive crocodile breeding: Nandankanan successfully bred gharials in captivity in 1980, the first successful captive gharial breeding in the world.
• Cheetah in India: Namibian and South African cheetahs were introduced at Kuno National Park in Madhya Pradesh from 2022-23 as part of the cheetah reintroduction programme. Zoo populations serve a different but related conservation purpose.
• African lion: Distinct from the Asiatic lion (Panthera leo persica), which is restricted to the Gir forests in India. African lions are a different subspecies.

Static linkage: Biodiversity, wildlife conservation, zoo management.

GS area: Science and Technology, Health

Researchers developed a formaldehyde sensor to detect adulteration in fresh fish:

• Problem: Unscrupulous traders use formaldehyde to preserve fish beyond its safe shelf life. Formaldehyde is carcinogenic.
• Sensor technology: A composite of tin oxide and reduced graphene oxide detects formaldehyde at room temperature without invasive testing.
• Application: Can be applied at fish markets and cold chain inspection points.

Static linkage: Science and technology, food safety.

GS area: Science and Technology, Agriculture

Swedish researchers developed eSoil, a conductive growing medium for hydroponic plants:

• Material: Cellulose-based biodegradable substrate embedded with an electrically conductive polymer (PEDOT).
• Effect: Electrical stimulation of plant roots accelerates germination and growth. Barley seedlings in the study showed 50 per cent faster development.
• Hydroponic relevance: Hydroponic systems grow plants without soil in nutrient solutions. They require less water and land, making them relevant for urban agriculture.
• India context: Hydroponic farming is being piloted in urban areas and water-scarce regions as an alternative to conventional agriculture.

Static linkage: Agriculture, science and technology.

GS area: Science and Technology, Geography

The Indian Institute of Geomagnetism (IIG) published findings from a decade of observations at India's Antarctic station:

• Ionosphere: The layer of Earth's atmosphere from about 50 km to over 1,000 km altitude. It is ionised by solar radiation, creating a layer of charged particles.
• Role in communication: The ionosphere reflects HF radio waves back to Earth, enabling long-distance radio communication. It also affects GPS signal accuracy.
• IIG observations: Tracked ionospheric variations in the polar region, where solar and geomagnetic activity is strongest, to improve space weather models.

Static linkage: Science and technology, atmospheric science, India's polar research.

• UPI Tap and Pay: NFC-based contactless UPI payments went live on BHIM and Paytm apps. Transactions up to Rs 500 use UPI LITE (offline functionality). NFC must be enabled on the device. NFC (Near-Field Communication) allows devices to exchange data at distances of a few centimetres.
• Dual citizenship: India does not permit dual citizenship for nationals. Countries that allow dual citizenship include the US, Finland, and Israel. India provides an alternative through the OCI (Overseas Citizen of India) scheme offering lifelong visa and near-citizen rights without full citizenship.