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Prelim Bits 07-04-2023 | UPSC Daily Current Affairs

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April 07, 2023

Basohli Painting

The world famous Basohli Paintings from the Union Territory of Jammu and Kashmir has received the Geographical Indication (GI) Tag.

  • The world-famous Basohli paintings are from Kathua district of Union Territory of Jammu and Kashmir.
  • It is the first independent GI-tagged product from Jammu region.
  • Basohli - Basohli painting is a school of Pahari miniature painting.
  • The art developed in the mountainous regions of Basohli between the 17th and 19th centuries.
  • Basohli painting is known for its own bold and flamboyant style.
  • It has a unique style of miniature paintings that witnessed a fusion of mythology and traditional folk art.
  • Phases - The early paintings that flourished under Sangram Pal.
  • Early phase of Basohli paintings depict Krishna as the protagonist, specifically in the Rasmanjari series.
  • The latter phase of Basohli paintings matured under the patronage of Kirpal Singh and explicitly depict the religious affiliation of the ruler to Vaishnavism.
  • The paintings in this phase were more sophisticated, with an emphasis on naturalism.
  • The ‘Gita Govinda series’ by Manaku holds great importance in the latter phase.
  • Features - Bright and bold colours like red, yellow, and blue were used in the borders, as well as for the generally flat background.
  • Prominent nose and lotus-shaped eyes are distinguishing facial features.



  1. Kashmir Life - GI Tagging For Basohli Painting
  2. Tribune India - GI tagging for Basohli paintings in Kathua district
  3. Indian Culture - Basohli Paintings

E-Waste (Management) Rules, 2022

E-Waste (Management) Rules came into force from April, 2023.

  • Ministry - Ministry of Environment, Forest and Climate Change
  • Application - These rules will apply to every manufacturer, producer, refurbisher, dismantler and recycler of e-waste.
  • Not applied to - These rules will not applicable to
    1. Waste Batteries as covered under the Battery Waste Management Rules, 2022;
    2. Packaging Plastics as covered under the Plastic Waste Management Rules, 2016;
    3. Micro Enterprise as defined in the Micro, Small and Medium Enterprises Development Act, 2006:
    4. Radio-active Wastes as covered under the provisions of the Atomic Energy Act, 196;
  • Procedure for storage of e-waste - Every manufacturer, producer, refurbisher and recycler may store the e-waste for a period not exceeding 180 days.
  • These rules will be applicable to solar photo-voltaic modules or panels or cells.
  • Responsibilities - Every Manufacturer, Producer, Refurbisher and Recycler have to collect e-waste generated and ensure its recycling or disposal.
  • Extended Producer Responsibility - All producers shall fulfil their extended producer responsibility obligation with the help of third-party organisations.
  • The extended producer responsibility shall lie entirely on the producer only.
  • The Central Pollution Control Board (CPCB) will generate extended producer responsibility certificate.
  • Reduction in the use of hazardous substances - Every producer of electrical and electronic equipment and their components make sure that it doesn’t contain hazardous substances.
  • It do not contain Lead, Mercury, Cadmium, Hexavalent Chromium, polybrominated biphenyls and polybrominated diphenyl ethers beyond a maximum concentration value of 0.1 % by weight.


  1. The Hindu - Unpacking the new set of e-waste rules
  2. CPCB - E-waste Rules, 2022 - pdf

International Finance Corporation (IFC)

The International Finance Corporation (IFC) to stop support investments in new coal-powered electricity projects.

  • The International Finance Corporation (IFC) is the private sector arm of The World Bank founded in 1956.
  • IFC provides financing for private enterprise investments in developing countries.
  • It also provides advisory services to encourage the development of private enterprise in nations.  
  • The IFC funds banks and other financial institutions that in turn lend to other projects (financial intermediaries).
  • In 2020, IFC launched the Green Equity Approach (GEA) to increase their clients climate lending and reduce their exposure to coal- related projects.
  •  Originally it required clients to reduce their exposure by half by 2025, and to zero by 2030.
  • In this new update to its GEA policy said that it will no longer allow financial intermediary clients to support new coal projects.

India sources about three-fourths of its electricity from coal.

The IFC has reportedly lent close to $5 billion to almost 88 financial institutions in India.


  1. The Hindu - IFC to stop funding new coal-powered projects
  2. IE - IFC has issued an update to its GEA policy

Urban Infrastructure Development Fund

Union Budget 2023-24 has announced the setting up of the Urban Infrastructure Development Fund (UIDF)

  • It was established through priority sector lending shortfall.
  • Agency - It will be managed by the National Housing Bank.
  • Usage - It will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities.
    1. Tier II cities are those which have a population range of 50,000 to 100,000
    2. Tier III cities are classified as those with a population of 20,000 to 50,000.
  • The Fund would be operationalised broadly along the lines of the existing Rural Infrastructure Development Fund.
  • Features of UIDF - It provides basic services and encourage projects with lower carbon footprints.
  • All cities and towns will be enabled for 100% mechanical desludging of septic tanks and sewers to transition from manhole to machine-hole mode.
  • Enhanced focus will be provided for scientific management of dry and wet waste.
  • The cities will be incentivized to improve their credit worthiness for municipal bonds.

Rural Infrastructure Development Fund

  • It was setup in 1995-96.
  • Agency - It is maintained by the National Bank for Agriculture and Rural Development (NABARD).
  • Objective - To provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects.
  • Loan to be repaid in equal annual instalments within seven years from the date of withdrawal, including a grace period of two years.


  1. The Hindu - Guidelines for UIDF likely to be released
  2. PIB - Urban Infrastructure Development Fund (UIDF)

Application Supported by Blocked Amount

SEBI has approved a framework for Application Supported by Blocked Amount (ASBA)-like facility for trading in the secondary market.

  • Application Supported by Blocked Amount (ASBA) was introduced by Securities and Exchange Board of India (SEBI) in 2008.
  • ASBA is an application containing an authorization to block the application money in the bank account, for subscribing to an initial public offering (IPO).
  • ASBA gives an explicit authorisation to a Self-Certified Syndicate Bank (SCSB) to block the application money in the bank account for subscribing to an issue (IPO).
  • SCSBs are SEBI authorized banks that confirm to the conditions laid by SEBI and capable of providing ASBA services to its customers.
  • Such blocked funds cannot be used for any other purposes but debited only on allotment.
  • Once the allotment is finalised, based on the number of shares allotted, the ASBA bank account will be debited.
  • If there is balance funds, it will be released for regular use.
  • In Secondary Market - SEBI has introduced (ASBA)-like facility for trading in the secondary market
  • ASBA in secondary market trading will ensure that clients will continue to earn interest on the blocked funds in their savings account till the debit takes place.
  • The facility is based on blocking of funds for trading in the secondary market through UPI (unified payments interface).
  • Investors and stock brokers can choose either direct settlement with Clearing Corporation (CC) or direct settlement through UPI.


  1. IE - SEBI approves ASBA-like facility for trading in secondary market
  2. Live Mint - ASBA-like facility for investors to trade in secondary market
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