LADAKH’S PARKACHIK GLACIER

 

Context: The Parkachik Glacier in Ladakh, India, has undergone alterations, according to a recent study by researchers at the Wadia Institute of Himalayan Geology.

  • The study calculated the glacier’s surface ice velocity and found that it decreased by roughly 28% in the lower ablation zone between 1999–2000 and 2020–2021.

According to calculations, three lakes of various sizes may arise as a result of subglacial over-deepening if the glacier keeps retreating at the same rate.

 

The glacier is rapidly melting for two reasons in particular:

  • The first is global warming and the region’s rising temperatures.
  • A lower elevation than other glaciers in the Zanskar region is the second reason.

 

Regarding the glacier:

Mountain glacier named Parachik Glacier can be found near Kargil, Ladakh. It is an iceberg that is slowly descending the Nun-Kun slopes. Finally, this iceberg plunges into the Suru River. With a surface area of 53 square kilometres and a length of 14 kilometres, it is one of the largest glaciers in the Suru River basin. The western Himalayas’ southern Zanskar Ranges include the Suru River valley.

 

 

MIDDLE STREAM

 

The Atlantic Meridional Overturning Circulation (AMOC), also known as the Gulf Stream system, may fail as early as 2025, according to a research study.

  • The AMOC controls the Atlantic currents and is a major factor in the weather in Europe. Climate catastrophes and cooler temperatures could result from its collapse.

The most recent report from the Intergovernmental Panel on Climate Change indicates that the collapse of AMOC could not occur as rapidly as the study predicts. The precise timing and occurrence of such a collapse are impossible to predict due to the complexity of the climate system.

 

Regarding Gulf Stream:

In the North Atlantic Ocean, there is a strong ocean circulation known as the Gulf Stream. The Gulf of Mexico is where it starts, and it moves north-east down the east coast of the United States before crossing the Atlantic to reach Europe. By transferring warm water and heat from the tropics to higher latitudes and affecting weather patterns and temperatures in coastal regions, it plays a key role in regulating the climate.

 

The AMOC

It is a significant network of ocean currents. It is the Atlantic branch of the ThermoHaline Circulation (THC), which transports heat and nutrients throughout the ocean basins of the planet.

  • AMOC transports tropically heated surface waters to the Northern Hemisphere, where it cools and sinks.
  • After that, a bottom current carries it back to the tropics and eventually to the South Atlantic. From there, it is transported by the Antarctic Circumpolar Current to all ocean basins.

The only other current that completely circles the earth is the ACC, which is the most significant current in the Southern Ocean.

 

 

INDIA SELF-RELIANT FUND

 

The Indian government announced a Rs. 50,000 crore Equity Infusion for Micro, Small, and Medium Enterprises (MSMEs) through the Fund of Funds as part of the Aatmanirbhar Bharat package. The initiative’s goal is to give viable and prospective MSMEs equity investment so that they can expand and become bigger businesses.

  • To carry out this strategy, the Self-Reliant India (SRI) Fund was established with contributions of Rs. 10,000 crore from the Indian government and Rs. 40,000 crore from private equity and venture capital funds.
  • The SRI Fund invests in equity or quasi-equity through a mother-fund and daughter-fund structure. Under the SRI Fund implementation, the NSIC Venture Capital Fund Limited (NVCFL) is registered as the Mother Fund.

The launch of the Champions 2.0 portal, the MSME Champions Scheme for financial assistance, budgetary support for the Credit Guarantee Fund Trust for Micro and Small Enterprises, and the “Raising and Accelerating MSME Performance (RAMP)” programme, which aims to improve MSMEs’ access to credit and markets and encourage technology advancement, are just a few additional actions the government has taken to support the MSME sector.

 

 

FRAMEWORK FOR THE COLOMBO SECURITY CONCLAVE (CSC)

 

An effective cooperative expedition amongst ocean scientists from India, Bangladesh, and Mauritius was organised under the context of the Colombo Security Conclave (CSC).

  • Under the CSC framework, the trip aboard ORV Sagar Nidhi was the first of its type,

 

Objective:

  • To improve ocean observation and data gathering to forecast and manage changes in the regional environment of the Indian Ocean.
  • Promoting cooperation in the measurement and modelling of ocean characteristics for improved regional forecasting and services.

 

The CSC

Colombo Security Conclave: What is it?

The CSC is a trilateral maritime security organisation made up of India, Sri Lanka, and the Maldives that was established in 2011. Bangladesh and Seychelles participated as observers with invites to join the organisation, while Mauritius is the fourth member.

 

The CSC’s envisioned goal is to develop and improve regional security across five pillars:

  1. Maritime Security and Safety
  2. Countering Radicalization and Terrorism
  3. Combating Transnational Organised Crime and Human Trafficking
  4. Cybersecurity and the Defence of Critical Technology and Infrastructure
  5. Disaster relief and humanitarian aid

 

Meaning It represents India’s engagement with the Indian Ocean (in line with India’s “SAGAR” vision), putting a focus on regional collaboration and shared security goals. It also seeks to lessen China’s presence in member nations and counteract its influence in the area.

 

 

THE RBI-DPI, OR THE DIGITAL PAYMENTS INDEX

 

Context: As of the end of March 2023, digital payments in India grew by over 13% annually, according to figures from the RBI.

  • The RBI’s Digital Payments Index (RBI-DPI), which was 377 in September 2022, now stands at roughly 395.

 

The cause of the increase is:

  • The significant growth in payment infrastructure and efficiency across the nation was blamed for the index’s rise.

 

DPI details

The Digital Payments Index (DPI) measures the extent of digitalization in payments across the country and highlights the expansion of various digital payment systems. It is published every two years and has five key parameters with different weights:

 

  • Payment Facilitators (25% weight)
  • Demand-side variables affecting payment infrastructure (10%)
  • Supply-side factors affecting payment infrastructure (15%)
  • Payment Results (45%)
  • Customer Focus (5%)