1. ASIAN DEVELOPMENT BANK (ADB) (Syllabus: GS Paper 2 – IR)

Context: Asian Development Bank (ADB) intends to partner with India to promote digital public infrastructure (DPI) in its projects to help improve the impact of development projects and bridge the digital divide that has become the new face of inequality.

Asian Development Bank (ADB)

• Formation: 1966.
• Objective: It envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.
• Headquarter: Manila, Philippines.
• Members: 68 members including India, China and Pakistan.

o The bank admits the members of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE), and non-regional developed countries.

• Largest capital contribution and voting rights: Japan and the United States (have equal and largest)>China>India>Australia.

Digital public Infrastructure (DPI): It is the foundational technology and data systems that governments and public organizations put in place to support various digital services and interactions with citizens, businesses, and other government entities. It is the digital counterpart to physical public infrastructure like roads, bridges, and utilities.

• Example: UPI, Aadhar, single window clearance, mygov.in etc.

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2. WORLD TRADE ORGANIZATION (WTO) (Syllabus: GS Paper 2 – IR)

Context: The United States and India have agreed to resolve their last outstanding (out of six disputes) dispute- related to poultry-at the World Trade Organization, the US Trade Representative recently said.

World trade organisation (WTO)

• Background: The WTO is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1947.

o It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement.

o Created by: Uruguay Round negotiations (1986-94).

• Work: It is the only global international organization dealing with the rules of trade between nations.
• Headquarter: Geneva, Switzerland.
• Membership: Total 164 countries. China becomes its member only in 2001.
• Decision Making:

o Ministerial Conference: Top decision-making body which must meet at least every two years. All decisions are taken by consensus.

o General council: It is the top day-to-day decision-making body. It meets a number of times a year in Geneva.

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3. EXERCISE VARUNA-23 (Syllabus: GS Paper 2 – IR)

Context: Phase Il of the 21st edition of Varuna (Varuna-23) bilateral exercise between Indian and French Navy was recently conducted in the Arabian Sea.

Exercise Varuna - 23

• Type: It is a bilateral Navy exercise.
• Exercise between: Indian and French Navy. It was initiated in 1993, and later was named ‘Varuna’ in 2001.
• Edition: 21st edition, and it was the 2nd phase of the exercise. The first phase of 'Varuna-2023' was conducted off India's Western Seaboard in January 2023.

Other Exercise between India-France
Army          SHAKTI

Navy           VARUNA

Air force     GARUDA

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4. GLOBAL STOCKTAKE (Syllabus: GS Paper 3 – Env & Eco)

Context: The synthesis report of the first Global Stocktake was recently released by United Nations Framework Convention on Climate Change (UNFCC).

Global Stocktake

• About: ‘Global stocktake’ refers to a proposed five-yearly review of the impact of countries’ climate change actions. Under the Paris Agreement, every country must present a climate action plan in five-yearly cycles.
• First cycle: Under the Paris Agreement, the first global stocktake was to be happened in 2023. 
• Also recognized: The stocktake also recognises that money needs to be made available for Loss and Damage and energy transition in developing countries.

Key points of the report

• Global efforts on climate crisis are falling short of meeting the Paris Agreement goals of keeping global warming under 2 degrees C (over pre-industrial levels) and pursuing efforts to keep it under 1.5 degrees C.
• There is a rapidly narrowing window to raise ambition and implement existing commitments in order to limit warming to 1.5°C .
• Action is needed to increase both the mitigation ambition of Nationally Determined Contributions and the implementation of measures to achieve their targets.

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5. WORLD INTELLECTUAL PROPERTY ORG. (WIPO) (Syllabus: GS Paper 2– IR)

Context: Member countries of the World Intellectual Property Organization (WIPO) ended a five-day meeting recently in Geneva, about a new treaty regarding Intellectual Property and Genetic Resources, Traditional Knowledge and Folklore. 

• This new treaty, if agreed on, could ensure benefits to indigenous communities that have protected genetic resources and are knowledge holders of how these can be used. Though these are governed by the Convention on Biological Diversity (CBD), benefits have been rare till date.

World Intellectual Property Organization (WIPO)

• About: It is the global forum for intellectual property (IP) services, policy, information, and cooperation.
• Formation: 1967.
• Funding: It is a self-funding agency of the United Nations. It is one of the 15 specialized agencies of the United Nations (UN).
• Members: 193 members.
• Headquarters: Geneva, Switzerland.
• Mission: To lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.

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6. G20 (Syllabus: GS Paper 2 – IR)

Context: The Prime Minister of India recently expressed confidence that the New Delhi G20 Summit will chart a new path in the human-centric and inclusive development. He emphasized that India’s G20 Presidency has been inclusive, ambitious, decisive, and action-oriented where the developmental concerns of the Global South have been actively voiced. 

G20

• Origin: Formed in 1999 in the backdrop of the financial crisis of the late 1990s that hit East Asia and Southeast Asia in particular.
• Aim and objective: To secure global financial stability by involving middle-income countries.
• Members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the EU.
• Presidency: The presidency of the G20 rotates every year among members, and the country holding the presidency, together with the previous and next presidency-holder, forms the ‘Troika’ to ensure continuity of the G20 agenda.
• No permanent secretariat/Headquarter: The incumbent chair establishes a temporary secretariat for the duration of its term.

Inclusive growth:

• According to UNDP: The process and the outcome where all groups of people have participated in growth and have benefited equitably from it. OECD: It is economic growth that is distributed fairly across society and creates opportunities for all. World Bank: It refers both to the pace and pattern of growth, which are interlinked and must be addressed together.

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7. MILLETS (Syllabus: GS Paper 3 – Agriculture and food security)

Context: According to the Agronomy Journal, examined data from crop models and digital technology, India’s core pearl millet or bajra production zone has shifted to 18 districts spread across eastern Rajasthan and Haryana between 1998 and 2017. Increase in rainfall triggered by human-induced climate change has led to this development.

Millets:

• Background: Earliest evidence found in Indus civilization: 3000 BC.

o Ancient food grain: first plants domesticated for food.

o Grown in 131 countries. Millets traditional food for 59 crore people in Asia & Africa.

• Millets: They are collective group of small seeded annual grasses that are grown as grain crops, primarily on marginal land in dry areas of temperate, sub-tropical and tropical regions.
• Includes: Sorghum (jowar), pearl millet (bajra), finger millet (ragi), barnyard, foxtail, brown top and other varieties.
• Also known as: Supergrain, poor man’s food grain.
• Largest producer: India is the largest producer of millets with 37.5% of the total global output followed by Sudan and Nigeria.
• Good source of: Protein, fibre, and essential vitamins, as well as minerals.
• Advantages of millets: Food and economic security, high nutrition, low glycemis index, climate resistant, doubling farmers' income. Etc.

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8. OECD (Syllabus: GS Paper 2 – IR)

Context: The Organisation for Economic Co-operation and Development (OECD) recently released a possible framework for enhancing tax transparency in real estate, which is seen as a source of leakage and money laundering, and also allow for sharing of tax-related information received from other countries for “non-tax purposes”.

Organisation for Economic Co-operation and Development (OECD)

• About: It is an international organisation with 38 member countries.
• Founded in: 1961 to stimulate economic progress and world trade.
• Headquarter at: Paris, France.
• Members: The majority of OECD members are high-income economies with a very high Human Development Index (HDI)and are regarded as developed countries. 
• Aim: Fostering economic development and cooperation and fighting poverty through the promotion of economic stability.

Money Laundering

• UN convention on money laundering (Vienna convention) defines money laundering as the conversion or transfer of property, knowing that such property is derived from any offense(s), for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in such offense(s) to evade the legal consequences of his actions. In simple terms: It is a process of converting illegally earned money into legitimate money.

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9. Global Initiative on Digital Health (Syllabus: GS Paper 2 – Health)

Context: WHO SPECIAL Envoy for the Access to Covid-19 Tools Accelerator (ACT-Accelerator) recently said that the most significant achievement of the G20 health track was the launch of the Global Initiative on Digital Health (GIDH).

Global Initiative on Digital Health (GIDH)

• Introduced by: WHO and India’s G20 presidency.
• Managed by: It will functions as WHO Managed Network (“Network of Networks”), that will promote equitable access to digital health by addressing challenges.
• Objective: To foster equity in healthcare by converging efforts and best practices.  To consolidate the evidence and amplify recent and past gains in global digital health for health systems while strengthening mutual accountability to enhance the impact of future investments. 
• Aim:

o ALIGN: Efforts to support the Global Strategy on Digital Health 2020–2025;

o SUPPORT: Quality assured technical assistance to develop and strengthen standards-based and interoperable systems aligned to global best practices, norms and standards;

o FACILITATE: The deliberate use of quality assured digital transformation tools that enable governments to manage their digital health transformation journey.

• 4 Pillars: Country needs tracker, Country resources portal, Transformation toolbox, Convening & knowledge exchange.

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10. INCREMEMENTAL CASH RESERVE RATIO (Syllabus: GS Paper 3 – Economy)

Context: The Reserve Bank of India has decided to discontinue the incremental Cash Reserve Ratio (I-CRR) in a phased manner.  The measure was intended to absorb the surplus liquidity generated by various factors, including the return of ₹2000 notes to the banking system. 

Incremental cash reserve ratio (ICRR)

• Cash reserve ratio (CRR): It is the share of a bank’s total deposit that is mandated by the Reserve Bank of India (RBI) to be maintained with the latter as reserves in the form of liquid cash.

o Limitations: The bank cannot use this amount for lending and investment purposes and does not get any interest from the RBI.

o Exclusion: CRR applies to scheduled commercial banks, while the regional rural banks and NBFCs are excluded.

o Present requirement: Currently, banks are required to uphold 4.5% of their Net Demand and Time Liabilities (NDTL) as CRR with the RBI.

• ICRR: Unlike CRR, which applies to the total deposit base, ICRR specifically targets new deposits.

o It is applied to the incremental increase in deposits made by customers within a certain period. It was introduced on August 10, 2023, as a temporary measure by RBI to absorb surplus liquidity.

Net Demand and Time Liabilities (NDTL): It is the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.

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