Flash Card

LAKSHYA-75 [Day-52] Current Flash Cards for IAS Prelims 2020

Aqueduct Water Risk Atlas; ‘Truthfully labelled seeds’; Markermeer Lake; AKRUTI - KRUTIK – FORCE; Special Data Dissemination Standard (SDDS); Automatic Exchange of Information (AEOI); Agreement or Asia-Pacific Trade Agreement (APTA); Conference on Disarmament (CD); ‘International Security Alliance’ (ISA); Instrument in Support of Trade Exchanges (INSTEX);
By IASToppers
April 30, 2020

What is the Instrument in Support of Trade Exchanges (INSTEX)?

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Answer:

  • INSTEX is a special purpose vehicle which aims to facilitate trade between the EU and Iran to bypass US sanctions.

Enrich Your Learning:

What is the instrument in Support of Trade Exchanges (INSTEX)?

  • INSTEX, which stands for Instrument in Support of Trade Exchanges, is a payment system that will allow companies to trade with Iran despite harsh US sanctions. The system would allow the exchange of goods without requiring direct transfers of money between Iran and EU companies.
  • The European signatories to the P5+1 nuclear accord, Germany, France and Britainare involved in this effort. The entity is based in France with German governance and financial support from all three countries.

How does this work?

  • INSTEX works as a barter arrangement operating outside of the US-dominated global financial system.
  • Trade is initially expected to focus on non-sanction able essential goods such as humanitarian, medical and farm products.

Which international collaboration located in Abu Dhabi, UAE works to combat organized and transnational crime?

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Answer:

International Security Alliance (ISA)

Enrich Your Learning:

‘International Security Alliance’ (ISA)

  • It is an international collaboration of Ministries of Interior and includes working groups working together to combat organized and transnational crime.
  • The Alliance was launched in February 2017.
  • The Alliance has structured its foundation on progressive global tenets to combat crimes within its remit.
  • The Alliance Secretariat is located in Abu Dhabi, UAE.
  • Member countriesof ISA are UAE, France, Italy, Spain, Senegal, Bahrain, Slovakia and Morocco. Recently, Singapore joined the alliance.
  • It promotes internal security cooperation among its member ministers, in particular with regards to the following strategic priorities:
    • Preventing and combating transnational organized crime
    • Preventing and combating forms of radicalisation and violent extremism
    • The management of borders
  • The United Arab Emirates (UAE) and the French Republic have resolved to join forces in order to mitigate the risk of challenge by alliance of 8 countries:
    • United Arab Emirates
    • French Republic
    • Kingdom of Bahrain
    • Kingdom of Morocco
    • Italian Republic
    • Republic of Senegal
    • Republic of Singapore
    • Kingdom of Spain

Objective:

  • To protect the safety of communities and the prosperity of countries by combating organized and transnational crimes.

 

Which is the world’s only permanent multilateral disarmament treaty negotiating body?

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Answer:

The Conference on Disarmament (CD) is the world’s only permanent multilateral disarmament treaty negotiating body.

Enrich Your Learning:

Conference on Disarmament (CD)

  • The CD was formed in 1979.The CD is the successor to the Ten-Nation Committee on Disarmament (TNDC), Geneva, 1960; the Eighteen-Nation Committee on Disarmament (ENDC), Geneva, 1962-68; and the Conference of the Committee on Disarmament (CCD), Geneva, 1969-78.
  • As originally constituted, the CD had only 38 countries participated in the work of the Conference until 1995. In 1995, the CD unanimously decided to admit 23 additional members.
  • While the CD is independent of the United Nations, it adopts its own rules of procedure and its own agenda, taking into account the recommendations made by the UN General Assembly and the proposals presented by its members, although its secretary is appointed by the UN Secretary-General.
  • Annual report also submitted to the UN General Assembly.
  • The CD has a permanent agenda agreed upon in 1978 at the first special sessionof the UNGA devoted to disarmament.

The CD and its predecessors have negotiated multilateral arms control, non-proliferation and disarmament agreements such as:

  • Treaty on the Non-Proliferation of Nuclear Weapons (NPT)
  • Environmental Modification and Seabed treaties
  • Biological and Toxic Weapons Convention (BTWC)
  • Chemical Weapons Convention (CWC)
  • Comprehensive Nuclear-Test-Ban Treaty (CTBT)

 

What was the previous name for Asia-Pacific Trade Agreement (APTA)? What are the member countries of APTA?

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Answer:

Asia-Pacific Trade Agreement (APTA) was previously known as Bangkok agreement. Member countries of APTA are Bangladesh, China, India, Laos, South Korea and Sri Lanka.

Enrich Your Learning:

Bangkok Agreement or Asia-Pacific Trade Agreement (APTA)

  • Asia-Pacific Trade Agreement (APTA) is a preferential regional trade agreementformerly known as the Bangkok Agreement.
  • APTA was signed in 1975 as an initiative of ESCAP (Economic and Social Commission for Asia and the Pacific).
  • It was renamed as Asia-Pacific Trade Agreement on 2nd November 2005.
  • APTA aims to promote economic developmentof its members through the adoption of mutually beneficial trade liberalization measures that contribute to regional trade expansion and economic cooperation.
  • Member countries of APTA are Bangladesh, China, India, Laos, South Korea and Sri Lanka.
  • Over time it refocused from the initial negotiation of tariff concessions on merchandise trade to at present negotiating liberalization in investment, services trade and trade facilitation.
  • It is also continuously working on improving and modernizing its Rules of origin for trade in goods.

 

 

What kind of information would be given under the agreement of Automatic Exchange of Information (AEOI)? Recently, India signed AEOI agreement with which country?

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Answer:

  • AEOI is the exchange of information between countries without having to send a specific request. Under AEOI, bulk taxpayer information by the source country to the resident countriesconcerning various categories of income (e.g. dividends, interest, royalties, salaries, pensions, etc.) is shared.
  • Recently, India signed AEOI agreement with which country.

Enrich Your Learning:

Why in news?

  • India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018.
  • In 2016, Switzerland and India signed a joint declaration on the introduction of the automatic exchange of information (AEOI) in tax matters on a reciprocal basis.
  • AEOI is to be carried out under the Common Reporting Standard (CRS) which has been developed by the Organisation for Economic Cooperation and Development (OECD).
  • Under the agreement, India will not receive information on bank accounts prior to 2018.

What is the Automatic Exchange of Information (AEOI)?

  • Automatic Exchange of Information (AEOI) is the exchange of information between countries without having to send a specific request.
  • AEOI exists to reduce global tax evasion. Information can be found in this section in relation to:
    • Different agreements between countries
    • Links to the relevant legislation
    • Practitioner guides
  • Automatic Exchange of Information (AEOI) is understood to involve the systematic and periodic transmission of “bulk” taxpayer information by the source country to the resident countriesconcerning various categories of income (e.g. dividends, interest, royalties, salaries, pensions, etc.).
  • AEOI will enable governments to recover tax revenue lost to non-compliant taxpayers, and will further strengthen international efforts to increase transparency, cooperation, and accountabilityamong financial institutions and tax administrations.
  • Additionally, AEOI will generate secondary benefits by increasing voluntary disclosures of concealed assetsand by encouraging taxpayers to report all relevant information.

 

The Special Data Dissemination Standard (SDDS) is established by which international Institution? a) World Bank OR b) International Monetary Fund.

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Answer:

International Monetary Fund

Enrich Your Learning:

Special Data Dissemination Standard (SDDS):

  • The Special Data Dissemination Standard (SDDS) was established by the IMF in 1966.
  • It was established for member countries that have or that might seek access to international capital markets, to guide them in providing their economic and financial data to the public.
  • The subscription to this standard is voluntaryfor countries.
  • The subscribing member needs to be committed to observing the standard and provide information about its data and data dissemination practices (metadata).
  • The SDDS is expected to enhance the availability of timely and comprehensive data and improve the functioning of financial markets.
  • The subscription to SDDS indicates that a country meets the test of “good statistical citizenship. 
  • Countries that subscribe to the SDDS agree to follow good practices in four areas:
  • the coverage, periodicity, and timeliness of data
  • public access to those data
  • data integrity
  • data quality
  • The SDDS Plus is the highest tier in the Fund’s Data Standards Initiatives and builds on the progress achieved under the SDDS.

What is metadata?

  • The Metadata is data information that provides information about other data.
  • It means it is a description and context of the data.
  • It helps to organize, find and understand data.

The AKRUTI – KRUTIK – FORCE, a part of AKRUTI initiative, is formulated by which Indian institution?

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Answer:

Bhabha Atomic Research Centre (BARC)

Enrich Your Learning:

What is Advance Knowledge & RUral Technology Implementation (AKRUTI)?

  • AKRUTI is an acronym for Advanced Knowledge and Rural Technology Implementation initiative.
  • Department of Atomic Energy has launched DAE- Societal Initiative for utilization of Non-Power Applications (NPAs) and spin off technologies in the area of water, agriculture, food processing and agri-land improvement through urban and rural waste management.
  • Within this framework, the structured programme called ‘AKRUTI-KRUTIK-FORCE’ has been formulated by the Bhabha Atomic Research Centre (BARC).
  • Since the inception of this programme, it is popularly known as AKRUTI programme.
  • It is implemented through technically oriented NGOs for techno-economic growth of the rural sector.
  • AKRUTI nodes through NGOS have demonstrated the usefulness of BARC technologies for rural sector leading to societal benefit.

The Marker Meer lake, recently in news, is situated in which country? Is this lake a Ramsar site?

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Answer:

Netherlands.

Enrich Your Learning:

Why in news?

  • Recently an artificial archipelago of five islands would be developed on the Markermeer lake to bring back nature to the area.

Markermeer Lake

  • Markermeer is a lake in the central Netherlandsin between North Holland, Flevoland and its larger sibling, the IJsselmeer.
  • The Markermeer is used as a freshwater reservoirand a buffer against floodwaters and droughts.
  • Markermeer and IJmeer is a lake with submerged vegetationin the catchment of the river  IJmeer and Markermeer both are separately listed as Ramsar Sites.
  • The lake is importance for a large number of breeding andnon-breeding birds.

The ‘Truthfully labelled seeds’ are produced by government companies in India. True or False?

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Answer:

False

Correct statement:

It is produced by private seed companies and is sold under truthful labels.

Enrich Your Learning:

‘Truthfully labelled seeds’

  • It is the category of seed produced by private seed companiesand is sold under truthful labels.
  • Companies should maintain field and seed standardssuggested for quality seed production as per seed act.
  • Truthful labelling is compulsoryfor notified kind of varieties and quality is guaranteed by producing agency.
  • The seeds are applicable to both notified and released varieties.
  • These seeds are tested for physical purity and germination.
  • For ‘Truthfully labelled seeds, seed inspector alone can take samples for checkingthe seed quality.

Key Facts:

  • Parliament recently decided to mandate uniform certificationby pushing through a replacement to the Seeds Act, 1966.

The new Bill aims to regulate the quality of all seeds sold in the country, as well as exported and imported seeds. 

Who publishes Aqueduct Water Risk Atlas?

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Answer:

World Resources Institute (WRI) publishes Aqueduct Water Risk Atlas.

Enrich Your Learning:

Aqueduct Water Risk Atlas

  • The Atlas combines twelve water risk indicatorsto create overall maps of where and how water risks may be prevalent.
  • In January 2013, the World Resources Institute launched the centrepiece of Aqueduct Water Risk Atlas after a three-year development effort.
  • It uses a robust, peer reviewed methodology and the best-available data to create high-resolution, customizable global maps of water risk.
  • Aqueduct’s global water risk mapping tool helps companies, investors, governments, and other users understand where and how water risks and opportunities are emerging worldwide.
  • In its Global Risks 2013 report, the World Economic Forum identified water supply crises as one of the highest impact and most likely risks facing the planet.

India’s place on Aqueduct Water Risk Atlas:

  • According to the Atlas, India placed 13thamong the world’s 17 ‘extremely water-stressed’ countries.
  • Neighbouring country Pakistan was under ‘extremely high’ levels of baseline water stress.
  • Twelve of the 17 were from the Middle East and North Africa(MENA) region.
  • ‘Extremely high’ levels of water stress mean an average 80 per cent of the available water in a country is used by irrigated agriculture, industries and municipalities every year.
  • Both surface water and groundwaterin India was highly exploited.
  • Groundwater levels, declined at more than eight centimetres per year between 1990 and 2014 in northern India.
  • Chandigarh was the most water-stressed, followed by Haryana, Rajasthan and Uttar Pradesh.


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Daily Current Flash Cards 2020 Prelims 2020
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