UPSC Daily Current Affairs | Prelim Bits 15-02-2021

Category-I Licence to UAE

• India has classified Foreign Portfolio Investors (FPIs) from the UAE as eligible for taking up preferential Category-I FPI licence.
• Category I licence exempts overseas investors into India-dedicated funds from the ambit of indirect transfer taxes under the Income Tax Act, 1961.
• This means that the funds from UAE would get the benefit from indirect transfer provisions under the Income-tax Act, 1961.
• Funds, however, must still pay the Securities Transaction Tax (STT) and capital gains tax on investment gains in Indian assets.
• Usually, Category-I licence would be given to only the FATF countries.
• But now the Securities and Exchange Board of India (SEBI) rules were changed to include non-FATF countries.
• After Mauritius, UAE is the second non-FATF (Financial Action Task Force) Country to be given this exemption.
• Other two categories -  Category II and III.

Arjun Main Battle Tank

• It was initiated in 1972 by the Defence Research & Development Organisation (DRDO) with Combat Vehicles Research & Development Establishment (CVRDE) as the lead Laboratory.
• It is a state-of-the-art Main Battle Tank (MBT) with superior fire power, high mobility, and excellent protection.
• The Mk 1 prototype of Arjun has been manufactured. Mk-1A version has 14 major upgrades on the earlier version.
• The breakthroughs achieved by CVRDE during the development are in the Engine, Transmission, Hydro-pneumatic Suspension, Hull and Turret, and Gun Control System.
• Two types of ammunition have been indigenously developed for this armament, viz,
  1. Fin Stabilized Armour Piercing Discarding Sabot (FSAPDS)
  2. High-explosive squash head (HESH). 
• Arjun has a computer-controlled integrated fire control system with day-cum-night stabilized sighting system and 120 mm calibre rifled gun.
• All round protection from anti-tank ammunition is achieved by the newly developed KANCHAN armour to a degree much higher than available in present generation tanks.

Mandarin Duck

• Rare Mandarin duck has been found floating in the Maguri-Motapung beel (or wetland) in Assam’s Tinsukia district.
• It is a small-exotic looking bird native to East Asia (Eastern China and Southern Japan).
• It is closely related to North American wood duck.
• The International Union for Conservation of Nature (IUCN) status of Mandarin duck is ‘Least Concern’

Maguri Motapung Beel

• It is declared as an Important Bird Area by the Bombay Natural History Society (BNHS).
• The wetland is located close to the Dibru Saikhowa National Park in Upper Assam. It has a grassland adjacent to it.
• The entire ecosystem (grassland and wetland) is home to a number of endemic bird species, like Black-breasted parrotbill and Marsh babbler.

Chittaura Lake

• Foundation stone of Maharaja Suheldev Memorial and development work of Chittaura Lake would be laid by the Prime Minister soon.
• Chitaura Jheel or lake is a Hindu pilgrimage site, centred around a pond in Bahraich district in Uttar Pradesh, India.
• It is also known as Ashtwarka jheel. River Teri Nadi flows from this lake.
• The site is believed to be the place where the fight between Raja Sukhdeo and Ghazi Saiyyad Salar Masud took place in June 1033.
• Ashtwarka Muni, the Guru of Maharaja Janak used to live here in his ashram. Every year, a fair is organized here on Basant Panchami.

BL Lacertae Blazer

• Indian astronomers have detected one of the strongest optical flares from a feeding super massive black hole called BL Lacertae blazar.
• This was detected with the help of Sampurnanand Telescope (ST) and 1.3 m Devasthal Fast Optical Telescopes located in Nainital.
• This detection can help tracing the events at different stages of the Universe’s evolution.
• It can help trace the source of emission and mass of the black hole.

• Located 10 million light-years away, BL Lacertae blazar is one among the 50 most prominent blazars which can be observed with a small telescope.
• Whole Earth Blazar Telescope (WEBT) had predicted that BL Lacertae blazar is among the three or four blazars to be experiencing flares.
• [WEBT is an international consortium of astronomers.]

Blazars

• Blazars are feeding super massive black holes in far off galaxies.
• They are one of the most energetic and luminous objects in the Universe that are known for their complicated emission mechanism.
• They emit jets of charged particles travelling at nearly the speed of light.

World Sustainable Development Summit 2021

• It is the annual event of The Energy and Resources Institute (TERI).
• The theme of the 2021 Summit was ‘Redefining our common future: Safe and secure environment for all’.
• It brings together governments, civil society and the thinkers in the fields of sustainable development, energy and environment sectors on a single common platform,
  1. In the fight against climate change,
  2. To accelerate action towards sustainable development.
• It was earlier known as Delhi Sustainable Development Summit.

Source: AIR, PIB, The Indian Express, The Hindu, Business Standard, Economic Times, Financial Express