Today's Brief 2-8/02/2024

1. eROSITA : short for extended Roentgen Survey with an Imaging Telescope Array, is a powerful X-ray telescope that was launched in 2019 as part of the Spektr-RG satellite mission.

was built by the Max Planck Institute for Extraterrestrial Physics (MPE) in Germany and is the primary instrument on the satellite.

Here are some key facts about eROSITA:

• Mission: To conduct the first ever all-sky survey in the medium-energy X-ray range (0.2-10 keV).

• Goals:

• To study the large-scale structure of the universe, including the distribution of galaxy clusters and active galactic nuclei (AGNs).

• To investigate the nature of dark energy, a mysterious force that is accelerating the expansion of the universe.

• To create a catalog of millions of X-ray sources, including stars, galaxies, and clusters of galaxies.

• Technical specifications:

• Seven Wolter-1 mirror modules, each with 54 nested mirror shells.

• Energy resolution of 130 eV at 6 keV.

• Angular resolution of 18 arcseconds.

• Field of view of 40 arcminutes.

eROSITA made significant progress in its mission before its operations were suspended in February 2022 due to the political situation between Russia and Germany.

2. Blue Economy 2.0 : Blue Economy 2.0 refers to a vision for the sustainable development of the ocean economy. It builds upon the traditional concept of the blue economy, which encompasses all economic activities related to the oceans, seas, and coasts, but with a stronger emphasis on:

• Sustainability: Protecting the health of the ocean ecosystem is essential for the long-term viability of the blue economy. This means practices like responsible fishing, pollution control, and conservation of marine biodiversity.

• Innovation: Embracing new technologies and solutions that can help us use ocean resources more efficiently and sustainably. This could include things like aquaculture, renewable energy from ocean sources, and biomimicry.

• Collaboration: Working together across sectors and countries to address the challenges and opportunities facing the ocean. This includes governments, businesses, NGOs, and communities.

The concept of Blue Economy 2.0 is still evolving, but it has the potential to transform the way we interact with the ocean and create a more prosperous and sustainable future for all.

• The Interim Budget presented by the Finance Minister recently stressed on environment-friendly development through the promotion of ‘blue economy’.

3. Payments Bank: A Payments Bank is a type of financial institution that is authorized to provide a limited range of banking services. Unlike traditional banks, Payments Banks are not allowed to issue loans or credit cards, and they cannot undertake lending activities. Instead, their primary focus is on facilitating digital transactions and providing basic banking services to promote financial inclusion, especially in rural and remote areas.

Key features of Payments Banks typically include:

1. Digital Transactions: Payments Banks emphasize digital and electronic channels for transactions, such as mobile banking, internet banking, and electronic fund transfers.

2. Savings Accounts: Payments Banks are permitted to offer savings accounts with a maximum balance limit. However, they cannot offer current accounts or fixed deposits.

3. Payments and Remittances: These banks are designed to handle transactions like bill payments, remittances, and fund transfers. They often leverage technology to provide convenient and efficient services.

4. Financial Inclusion: One of the primary objectives of Payments Banks is to extend banking services to the unbanked and underbanked population, particularly in rural and remote areas.

5. Partnerships with Retailers: Payments Banks often establish partnerships with retail outlets, business correspondents, and other entities to create an extensive network for providing financial services.

6. No Lending Activities: Payments Banks are not permitted to engage in lending activities. This restriction helps them focus on their primary goal of providing basic banking services.

In many countries, including India, the concept of Payments Banks has gained traction as a way to increase financial inclusion and provide banking services to those who may not have easy access to traditional banks. It's important to note that regulatory frameworks may vary from country to country, and the specific services offered by Payments Banks may differ accordingly.

Paytm Payments Bank & RBI News:

On January 31st, 2024, the Reserve Bank of India (RBI) imposed restrictions on Paytm Payments Bank Limited (PPBL). These restrictions will significantly impact the bank's operations and its customers. Here's a summary:

What happened:

• RBI barred PPBL from accepting new customer deposits and onboarding new customers, effective March 1st, 2024.

• Existing customers cannot add money to their Paytm Payments Bank savings accounts, FASTags, or wallets after February 29th, 2024.

• However, existing customers can still withdraw money from their accounts and use the existing balance until further notice.

Why:

• RBI found "persistent non-compliances and continued material supervisory concerns" at PPBL based on an external audit.

• This implies non-adherence to regulations and supervisory guidelines established by the RBI.

Impact:

• PPBL's future as a full-fledged payments bank is uncertain.

• Existing customers need to find alternative solutions for saving and depositing money.

• This action by RBI raises concerns about compliance and regulatory oversight in the fintech sector.

4.India Energy Week 2024: India Energy Week 2024, held from February 6 to 9 in Goa, India, was the country's largest and only all-encompassing energy exhibition and conference. It brought together the entire energy value chain, serving as a catalyst for India's energy transition goals.

The event was inaugurated by the Hon'ble Prime Minister of India Shri Narendra Modi and was held under the patronage of the Ministry of Petroleum & Natural Gas, Government of India, and officially supported by the Federation of Indian Petroleum Industry (FIPI).

Key facts about India Energy Week 2024:

• Over 35,000 attendees, 350 exhibitors, 400 speakers and 4,000+ delegates, from over 100 countries

• Focus on India's energy transition goals, including renewable energy, energy efficiency, and sustainable development

• Showcased the latest technologies and solutions from across the energy sector

• Provided a platform for networking and collaboration between key stakeholders in the energy industry

Some of the key themes of the event included:

• Energy security and affordability

• Climate change and sustainability

• Digitalization and innovation

• Skills development and job creation

The event featured a number of different activities, including:

• Keynote speeches and presentations

• Panel discussions and workshops

• Product demonstrations and exhibitions

• Networking events and receptions

India Energy Week 2024 was a successful event that helped to advance India's energy transition goals. The event provided a platform for stakeholders to come together and discuss the challenges and opportunities facing the Indian energy sector.

5.Uttarakhand’s Uniform Civil Code (UCC) Bill: Uttarakhand's Uniform Civil Code (UCC) Bill: Key Points and Recent Developments

Uttarakhand recently made history by becoming the first state in India to pass a Uniform Civil Code (UCC) Bill. Here's a summary of the key points and recent developments:

What is the UCC Bill?

• The UCC Bill aims to standardize personal laws related to marriage, inheritance, succession, and adoption for all communities in Uttarakhand (except scheduled tribes).

• This means replacing existing personal laws based on religion with a common set of rules for all citizens.

Key provisions of the Bill:

• Marriage:

• Minimum age of marriage set at 21 for men and 18 for women.

• Registration of marriages and divorces made mandatory.

• Polygamy and child marriage prohibited.

• Inheritance:

• Equal rights for sons and daughters in ancestral property.

• Elimination of distinction between "legitimate" and "illegitimate" children.

• Other provisions:

• Registration of live-in relationships mandated, granting children born from such relationships legal rights.

• Similar grounds and procedures for divorce across communities.

• Ban on practices like "Halala" and "Iddat".

Current status:

• The Bill was passed by the Uttarakhand Legislative Assembly on February 7, 2024.

• However, it still needs to be approved by the President of India before becoming law.

• The Bill faces potential legal challenges as it may be seen as infringing upon religious rights guaranteed by the Indian Constitution.

Reactions to the Bill:

• Supporters:

• View it as a step towards achieving equality and reducing religious discrimination.

• Believe it will simplify legal processes and promote gender justice.

• Opponents:

• Express concerns that it undermines religious minorities' cultural and personal traditions.

• Argue that it may not be truly uniform as it exempts scheduled tribes.

5.Renewables 2023 Report:

• Record growth: Global renewable power capacity additions reached a remarkable 507 GW in 2023, nearly 50% higher than the previous year and marking the 22nd consecutive year of record growth.

• Solar PV leads the charge: Solar photovoltaic (PV) accounted for an impressive 75% of new renewable capacity additions, driven by China's massive expansion and falling costs.

• Cost competitiveness: An estimated 96% of newly installed utility-scale solar PV and onshore wind had lower generation costs than new coal and natural gas plants, further enhancing their attractiveness.

• Triple the goal by 2030: Building on momentum, over 130 countries, including the G20, pledged to triple renewable energy capacity globally by 2030 to accelerate progress towards climate goals.

• Challenges remain: While growth is encouraging, issues like supply chain bottlenecks, grid integration needs, and policy stability require continued attention for sustained progress.

2. RENEWABLES GLOBAL STATUS REPORT 2023 by REN21:

• Multi-dimensional analysis: This report dives deeper, offering five different publications covering energy demand, energy supply, renewable energy systems and infrastructure, economic and social value creation, and a global overview.

• Focus on social value: It emphasizes the potential of renewables to create jobs, drive economic growth, and improve energy access, especially in developing countries.

• Geopolitical shift: The report acknowledges the impact of geopolitical events like the Ukraine war on energy security and emphasizes the need for diversification and increased reliance on renewables.

• Technological advancements: Emerging technologies like green hydrogen, bioenergy, and advanced storage are highlighted as crucial for a comprehensive clean energy transition.

• Financing gap: While investments are increasing, a persistent financing gap hinders progress in developing regions. Addressing this gap through innovative financing mechanisms is essential.

Overall, both reports paint a picture of an accelerating global shift towards renewable energy. However, they also emphasize the need for continued efforts to overcome challenges and ensure a just and equitable transition for all.

6.ABHYAS: The objectives like safe release of booster, launcher clearance and attaining the required end of launch velocity were achieved. During the flight trials, various parameters like required endurance, speed, manoeuvrability, altitude and range were successfully validated.

Designed by DRDO’s Aeronautical Development Establishment (ADE), ABHYAS offers a realistic threat scenario for practice of weapon systems. It is designed for autonomous flying with the help of an auto pilot indigenously made by the ADE. It has Radar Cross Section, Visual and Infrared augmentation system required for weapon practice. It has a laptop-based Ground Control System with which the aircraft can be integrated and pre-flight checks, data recording during the flight, replay after the flight and post-flight analysis can be carried out. ABHYAS requires minimum logistics and is cost effective compared to imported equivalents.

The systems tested recently were realised through Production Agencies – Hindustan Aeronautics Limited (HAL) and Larsen & Toubro (L&T) Defence. With identified production agencies, ABHYAS is ready for production. The system has export potential and can be offered to friendly countries.

Raksha Mantri Shri Rajnath Singh has congratulated the DRDO, the Armed Forces and the Industry for the successful flight trial of ABHYAS. The development of this system will meet the requirements of aerial targets for the Armed Forces,

7.NexCAR19 : NexCAR19 is a groundbreaking development in the field of cancer treatment, particularly for leukemia patients. It's India's first indigenously developed CAR T-cell therapy, offering a new hope for those battling the disease

What is it?

NexCAR19 is a CAR T-cell therapy, a type of immunotherapy that uses a patient's own immune cells to fight cancer. CAR stands for Chimeric Antigen Receptor. T-cells are white blood cells that play a crucial role in the immune system's defense against infections and diseases, including cancer. In CAR T-cell therapy, T-cells are genetically modified in the lab to express a specific receptor on their surface called a CAR. This CAR helps the T-cells recognize and attack cancer cells more effectively.

How does it work?

NexCAR19 targets cancer cells that carry the CD19 protein on their surface. This protein is found on many types of leukemia cells. The CAR on the T-cells binds to the CD19

protein, triggering the T-cells to attack and destroy the cancer cells.

Key benefits:

• Developed in India: This makes NexCAR19 more accessible and affordable for Indian patients compared to imported CAR T-cell therapies.

• Promising results: Clinical trials have shown a 70% overall response rate in patients with relapsed or refractory B-cell lymphomas and leukemia.

• Minimal side effects: NexCAR19 exhibits minimal neurotoxicity, a common side effect associated with other CAR T-cell therapies.

Current status:

NexCAR19 received approval from the Central Drugs Standard Control Organisation (CDSCO) in India in July 2023. It is currently commercially available for the treatment of B-lymphomas and B-Acute Lymphoblastic Leukaemia where one or more lines of treatment have failed.

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