Mastercard, a global technology in the payments industry, announced the worldwide launch of its new Payment Passkey Service to make online shopping more secure and easier than ever.
Payment Passkey Service will provide customers with a non-OTP-based solution for transaction management. It will use device-based biometric authentication methods such as fingerprints or facial scans to streamline online shopping experiences
About Payment Passkey Service:
It uses device-based biometric authentication methods such as fingerprints or facial scans.
It will provide customers with a non-OTP-based solution for transaction management.
Working
It works using algorithms to encrypt data so users can verify their identity fast and securely.
When users first sign into an account, their device creates a pair of keys: one that is public and shared with the website to validate the passkey, and one that is private on your device to unlock the passkey to access your account.
It can work across devices from the same operating system: If you set up a passkey for an app or website on your phone, it can work if you log in from your laptop or tablet.
It makes transactions faster and more secure against fraud and scams by replacing traditional passwords and OTPs.
Passkeys can be used for payments. Payment passkeys offer a more secure and easier way for cardholders to authenticate themselves during e-commerce transactions on web or merchant apps.
Tokenization:
It refers to replacement of actual credit and debit card details with an alternate code called the “token”.
It is a combination of card, token requestor and device.
Topic: Financial Ecosystem
2.Finternet
Why in the news?
Co-founder of Infosys Nandan Nilekani proposes Finternet to be the best solution to bring technology of cryptocurrency into the regulated financial sector
He underlined the importance of bringing the power of cryptocurrencies and tokenization to the regulated financial world.
About Finternet:
It is multiple financial ecosystems interconnected with each other, much like the internet.
It would lower barriers between different financial services and systems, drastically reducing the complex clearing and messaging chains and other frictions that hinder financial systems.
Working:
It would be built on unified ledgers which will bring multiple financial markets such as tokenized assets, shares, bonds, real estate, on a single programmable platform.
This has the capability to enable individuals and businesses to transfer any financial asset they like, in any amount, at any time, using any device, to anyone else, anywhere in the world. Financial transactions would be cheap, secure, and near-instantaneous.
It will be user-centric, unified, which means it will cover all types of assets, with a universal infrastructure.
It would reduce the complex processes that happen behind-the-scenes today and make transactions slower and expensive.
Central banks would remain at the core of the system, ensuring trust in money, but (like today) work closely with commercial banks.
Polity and Governance
Topic: Statutory Bodies
3.National Green Tribunal
Why in the news?
The National Green Tribunal (NGT) has asked the Central Pollution Control Board (CPCB) to draw up a timeframe and submit a deadline for finishing the Pavana river conservation work.
The directive comes after the recent hearings in which the CPCB submitted an action plan prepared in 2019 under the national river rejuvenation mission.
About National Green Tribunal (NGT):
It has been established under the National Green Tribunal Act 2010 for effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources.
New Delhi is the principal place of sitting of the tribunal and Bhopal, Pune, Kolkata, and Chennai shall be the other four places of sitting of the tribunal.
Composition:
The Tribunal comprises the Chairperson, the Judicial Members, and Expert Members.
Its Chairperson is a retired Judge of the Supreme Court.
Other judicial members are retired judges of High Courts.
Each bench of the NGT will comprise of at least one judicial member and one expert member.
Expert members should have a professional qualification and a minimum of 15 years’ experience in the field of environment/forest conservation and related subjects.
Powers: The NGT has the power to hear all civil cases relating to environmental issues and questions that are linked to the implementation of laws listed in Schedule I of the NGT Act. These include the following:
The Water (Prevention and Control of Pollution) Act, 1974;
The Water (Prevention and Control of Pollution) Cess Act, 1977;
The Forest (Conservation) Act, 1980;
The Air (Prevention and Control of Pollution) Act, 1981;
The Environment (Protection) Act, 1986;
The Public Liability Insurance Act, 1991;
The Biological Diversity Act, 2002.
NGT has appellate jurisdiction to hear appeals as a Court.
It is not bound by the procedure laid down under the Code of Civil Procedure, 1908, but shall be guided by principles of natural justice.
It is mandated to make disposal of applications or appeals finally within 6 months of the filing of the same.
Central Pollution Control Board (CPCB):
It is a statutory organization constituted under the Water (Prevention and Control of Pollution) Act, 1974.
It was entrusted with the powers and functions under the Air (Prevention and Control of Pollution) Act, 1981.
It provides technical services to the Ministry of Environment, Forests, and Climate Change (MOEFCC) of the provisions of the Environment (Protection) Act, 1986, and advises the Central Government on any matter concerning the prevention and control of water and air pollution and the improvement of the quality of air.
Functions of the CPCB:
to promote the cleanliness of streams and wells in different areas of the States by prevention, control, and abatement of water pollution
to improve the quality of air and to prevent, control or abate air pollution.
Topic: Judiciary
4.Fast Track Special Court (FTSCs)
Why in the news?
Against the backdrop of the R.G. Kar hospital rape and murder case, the Union Women and Child Development Minister Annpurna Devi asked Chief Minister Mamata Banerjee to expedite the setting up of fasttrack special courts (FTSC) dedicated to handling cases of rape and those under the Protection of Children from Sexual Offences (POCSO) Act.
About Fast Track Special Court (FTSCs):
These are specialized courts established in India with the primary aim of expediting the trial process for cases related to sexual offenses, particularly those involving rape and violations under the Protection of Children from Sexual Offences Act (POCSO Act).
The establishment of FTSCs was prompted by the government's recognition of the alarming frequency of Sexual Offenses and the prolonged duration of trials in regular courts, which resulted in delayed justice for victims.
Establishment:
The Central Government enacted the Criminal Law (Amendment) Act in 2018, which introduced stricter punishments, including the death penalty for rape offenders.
Subsequently, the FTSCs were set up to ensure the swift dispensation of justice for such cases.
The scheme to establish FTSCs was formulated in August 2019 as a Centrally Sponsored Scheme following directions from the Supreme Court of India in a suo moto Writ Petition (Criminal).
These are implemented by the Department of Justice, Ministry of Law & Justice.
Geography
Topic: Climatology
5.La Nina
Why in the news?
With a La Nina or a cooling of the central Pacific Ocean expected to firmly take root in September, the India Meteorological Department (IMD) has forecast a rainy September with several parts of North India expected to receive heavy rainfall.
About La Nina:
It means Little Girl in Spanish.
It is also called El Viejo, anti-El Niño, or simply “a cold event.”
It has the opposite effect of El Niño.
During La Nina events, trade winds are even stronger than usual, pushing more warm water toward Asia. Off the west coast of the Americas, upwelling increases, bringing cold, nutrient-rich water to the surface.
These cold waters in the Pacific push the jet stream northward.
This tends to lead to drought in the southern U.S. and heavy rains and flooding in the Pacific Northwest and Canada.
During a La Nina year, winter temperatures are warmer than normal in the South and cooler than normal in the North.
It can also lead to a more severe hurricane season.
During La Niña, waters off the Pacific coast are colder and contain more nutrients than usual.
This environment supports more marine life and attracts more cold-water species, like squid and salmon, to places like the California coast.
A neutral state is when neither El Nino nor La Nina is present. During this time the sea surface temperatures in the tropical Pacific are close to average.
Topic: Water Bodies
6.South China Sea
Why in the news?
China and the Philippines accused each other of deliberately ramming their coast guard ships near the Sabina shoal in the South China Sea, the latest in a spate of similar incidents in recent weeks.
China claims almost all of the economically vital waterway despite competing claims from other countries and an international court ruling that its assertion has no legal basis.
About South China Sea:
It is a marginal sea that is part of the Pacific Ocean.
It is bordered by China and Taiwan to the north, the Indo-Chinese peninsula (including Vietnam, Thailand, Malaysia, and Singapore) to the west, Indonesia and Brunei to the south, and the Philippines to the east (referred to as the West Philippine Sea).
It is connected by the Taiwan Strait with the East China Sea and by the Luzon Strait with the Philippine Sea.
It is a crucial global trade route. According to the Center for Strategic and International Studies (CSIS), 80% of global trade by volume and 70% by value is transported by sea, with 60% of it passing through Asia and one-third of global shipping moves through it.
India relies on the region for approximately 55% of its trade.
It is also a rich fishing ground.
The major island and reef formations in the South China Sea are the Spratly Islands, Paracel Islands, Pratas, the Natuna Islands and Scarborough Shoal.
As many as 70 disputed reefs and islets are under contention, with China, Vietnam, the Philippines, Malaysia, and Taiwan all building more than 90 outposts on these disputed features.
China claims up to 90% of the sea with its "nine-dash line" map and has physically expanded islands and constructed military installations to assert control.
International Relations
Topic: South-east Asia
7.Laos
Why in the news?
At least 47 Indians trapped in cyber scam centers at the Golden Triangle Special Economic Zone (SEZ) in Bokeo province in Laos have been rescued by the Indian embassy.
Indian authorities have been cautioning its nationals against fake job offers in Laos and urged them to conduct due diligence to avoid being deceived.
The Indian mission has so far rescued 635 Indians from the country and ensured their safe return home.
About Laos:
It is located in the Indochinese Peninsula in Southeast Asia.
It is the only landlocked country in Southeast Asia.
It is bordered to the north by China, to the northeast and east by Vietnam, to the south by Cambodia, to the west by Thailand, and to the northwest by Myanmar (Burma).
The Mekong river flows southeast and south along and through western Laos and forms its boundary with Myanmar and most of the border with Thailand.
It has the typical tropical monsoon(wet-dry) climate of the region.
It has tropical rainforests of broad-leaved evergreens in the north and monsoon forests of mixed evergreens and deciduous trees in the south.
Its capital is Vientiane.
The predominant religion followed here is Theravada Buddhism.
Environment and Ecology
Topic: Protected Areas
8.Pilibhit Tiger Reserve
Why in the news?
Poachers killed two chitals in the Pilibhit Tiger Reserve (PTR), Uttar Pradesh.
The Forest Department team also recovered chital meat from the jungle.
About Pilibhit Tiger Reserve:
It is located in Uttar Pradesh in the districts of Pilibhit, Lakhimpur Kheri and Bahraich.
It lies along the India-Nepal border in the foothills of the Himalayas and the plains of the ‘terai’ in Uttar Pradesh
The river Gomti originates from here.
The Sharda Sagar Dam extending up to a length of 22 km is on the boundary of the reserve.
It encompasses north Indian moist deciduous type of forests.
It is characterized by sal forests, tall grasslands and swamps, maintained by periodic flooding from rivers.
The sal woodland is very dense with good natural regeneration, amounting to almost 76% of the reserve area.
The forest patches are interspersed with grass meadows with several species like Sacchrum, Sclerostachya, Imperata, Themeda, Bothriochloa, Vetiveria, Apluda, Dichanthium, Digitaria and Cyperus.
It is home to a myriad of wild animals including the endangered tiger, swamp deer, Bengal florican, hog deer, leopard, etc.
Chital:
It is also known as spotted deer.
It is native to the Indian subcontinent. It is widely distributed in Asia, especially in India, Sri Lanka, Bangladesh, Bhutan, and a small area in Pakistan.
It is generally found in subtropical grasslands and forests.
It is a slightly reddish brown with white spots on its body.
Only males have antlers, and their bodies are larger than females.
It is a social animal and commonly found in herds of 10 to 50 individuals.
It mainly feeds on grasses, herbs, shrubs, foliage, and fruits.
Its IUCN Red List status is least concerned.
Science and Technology
Topic: Diseases
9.Foot-and-mouth Disease
Why in the news?
The Union government has decided to establish foot-and-mouth disease-free zones in eight States (Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Uttarakhand, Punjab, Haryana, Maharashtra, and Gujarat) in a bid to expand export opportunities for Indian animal products, and enhance the country’s global market presence.
About Foot-and-mouth Disease:
It is a severe, highly contagious viral disease of livestock that has a significant economic impact.
It affects cattle, swine, sheep, goats, and other cloven-hoofed ruminants.
It does not affect horses, dogs, or cats.
Intensively reared animals are more susceptible to the disease than traditional breeds.
It is a transboundary animal disease (TAD) that deeply affects the production of livestock and disrupts regional and international trade in animals and animal products.
It is not a human health or food safety threat. It is also not related to hand, foot, and mouth disease, which is a common childhood illness caused by a different virus.
It is caused by an aphthovirus of the family Picornaviridae which has seven strains i.e. A, O, C, SAT1, SAT2, SAT3, and Asia1.
Immunity to one type does not protect an animal against other types or subtypes.
Transmission:
It is found in all excretions and secretions from infected animals.
Notably, these animals breathe out a large amount of aerosolized virus, which can infect other animals via the respiratory or oral routes.
It is rarely fatal in adult animals, but there is high mortality in young animals.
Symptoms:
It is characterized by fever and blister-like sores on the tongue and lips, in the mouth, on the teats, and between the hooves.
Ruptured blisters can result in extreme lameness and reluctance to move or eat.
Other frequent symptoms are fever, depression, hypersalivation, loss of appetite, weight loss, growth retardation, and a drop in milk production, which can persist even after recovery.
It results in severe production losses, and while the majority of affected animals recover, the disease often leaves them weakened and debilitated.
Vaccines are available but must be matched to the specific type and subtype of virus causing the outbreak.
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