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Current Affairs for IAS Exams - 24 January 2021

::NATIONAL::

The Corporate Social Responsibility (CSR) Rules, the Corporate Affairs Ministry (MCA) has introduced several changes to the CSR framework including mandating Impact Assessment for big CSR projects and revamping the reporting formats of the Board report.
The other major changes include mandatory disclosure of all CSR projects and activities besides CSR Committee’s composition on the company’s website.
The revamped rulesoriginally framed in 2014 allow CSR activities to be carried through charitable trusts.
It may be recalled that there was a proposal to restrict the CSR activities to be undertaken only by the Section 8 companies registered with the central government and not allow companies to fulfil their CSR obligations through charitable institutions. Now, this proposal has been dropped and is not reflected in the latest amendment to the Rules.
The MCA has also now stipulated that an Annual action plan for CSR has to be presented to the company Board for its approval,

Movement against Smuggled and Counterfeit Trade (MASCRADE) is the annual flagship conference.
It is organised byFICCI (Federation of Indian Chambers of Commerce & Industry).
It provides a platform to identify opportunities for joint action between governments and private sector, andenforcement machinery to combat illegal trade.
Established in 1927, FICCI is the largest and oldest apex business organisation (non-government,not-for-profit) in India.

The United Arab Emirates cabinet on Sunday approved the establishment of an embassy in the city of Tel Aviv in Israel, state media said.
The UAE and Israel agreed to normalise relations in August, a deal forged largely over shared fears of Iran. Since then Bahrain, Sudan and Morocco have all agreed to establish ties with Israel in deals brokered in 2020 by the administration of former U.S. President Donald Trump.
Israel’s government regards Jerusalem as its capital, although that is not recognized by most of the international community. Palestinians claim East Jerusalem as the capital of a future Palestinian state.
Most countries have their embassies in Tel Aviv.

The Indonesian Embassy in New Delhi has built a special room in recognition of the nation’s fight for freedom from Dutch colonialism 74 years ago, and named it in honor of Biju Patnaik to honor his role in the fight for the freedom of the nation.

About:

The former Chief Minister of Odisha who was a skilled pilot flew various missions in 1947 to transport Indonesian leaders, including the nation’s highest leader, President Sukarno, Vice President Hatta and Prime Minister Sutan Sjahrir out of Indonesia, at grave risk to himself.
In 1950, President Sukarno was the main guest on India’s first Republic Day, and ties between India and Indonesia remained strong for the next decade.
Relations between the two countries soured after Indonesia failed because they did not supported India in the 1962 war with China.
Relations revived only decades later, when in 2005, India and Indonesia signed a strategic partnership agreement; Military exchanges and commercial ties have grown since then.
The recently opened Patnaik Room is a reminder not only of the historical ties between the two countries, but also of the imperative to keep ties strong today.

Global green bond issuance reached a record high of $269.5 billion by the end of last year and could reach $400-$450 billion this year, a report by the Climate Bonds Initiative (CBI).
Green bonds are a growing category of fixed-income securities that raise capital for projects with environmental benefits, such as renewable energy or low-carbon transport.

About:

According to RBI, cost of issuance of green bonds has remained higher than other bonds in India mainlybecause of asymmetric information.
Green bonds are issued to fund projects that have positive environmental or climate benefits.
For example, in renewable energy, clean transportation and sustainable water management.

Benefits:

Two new species of a rare ant genus have been discovered in India.
The species of the ant genus Ooceraea found in Kerala, and Tamil Nadu add to the diversity of this rare genus.
They differ from others of the same genus on the basis of the number of antennal segments.
One of them found in the Periyar Tiger Reserve of Kerala, has been named Ooceraea joshii.
New species are typically named after some distinguishing attribute or location but are often named after scientists as a means of honouring their research contributions to biology, especially in the fields of evolutionary and organismal biology, ecology or systematics.
The genus is currently represented by 14 species of which eight possess nine-segmented antennae, while five possess eleven- segmented antennae and one species has recently been reported with eight-segmented antennae.
In India, the genus was so far represented by two species with nine- and eleven-segmented antennae respectively.

The two-kilometre time trial set at eight minutes and 15 seconds for fast bowlers and 8:30 for batsmen, spinners and wicketkeepers.
It has become mandatory for India’s centrally-contracted cricketers.

What is the 2k time trial?

On a standard athletics track, the distance is covered in five laps of 400 metres each. The timings can be measured with a stop-watch or an electronic clock.
The 2k time trial is a speed-endurance test, according to Ramji Srinivasan, the 2011 World Cup-winning Indian team’s strength and conditioning coach.

How will it help cricketers?

Srinivasan gives the example of someone batting for hours in difficult conditions. “Time trial is going to make you fitter. For example, if you have to cover the last 100 metres in 20 seconds, you cannot stride, you have to sprint.
Especially when your muscles are fatigued, you have to push. For example, a batsman is in the 90s, it is extremely hot and humid outside.
The time trial will help in terms of when to push (and) when to sprint,” Srinivasan said.