28.04.25

Bond Markets

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  • US Presidential Interference: President Trump challenged the independence of the Federal Reserve (Fed), creating uncertainty in financial markets. His conflict with the Fed chair increased investor fears about inflation.

  • Bond Basics: Bonds are debt instruments promising fixed returns, viewed

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    as safer than equities. Bond yields are inversely related to bond prices.

  • Inflation Impact: Inflation erodes bond returns. Rising inflation expectations cause central banks to raise interest rates, lowering bond prices and increasing yields.

  • Currency Risk: Currency depreciation negatively impacts foreign bondholders’ returns.

  • US Market Reaction: Investors are selling US bonds due to fears of inflation from tariffs. Rising yields and a falling dollar suggest investors are moving away from US assets.

  • Capital Flight: The US losing its safe haven status could lead to capital flight from emerging markets seeking stable currencies and markets.

  • Indian Bond Market: It’s a vital segment where entities raise funds

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    via bonds. It includes primary (new issues) and secondary (trading existing bonds) markets, with instruments like G-Secs, corporate bonds, and green bonds. RBI regulates government bonds, SEBI regulates corporate bonds.

Hyena Species Today

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  • Threats to Hyena Populations: All four extant hyena species (Spotted, Striped, Brown Hyena, and Aardwolf) in Africa face increasing threats leading to population declines.

  • Threat Sources: Persecution due to fear/misinformation, habitat loss (agriculture/settlement), human-wildlife conflict (livestock), hunting (bushmeat, traditional medicine), and accidental deaths (poisoning, snares, vehicle collisions).

  • Species Overview:

    • Spotted Hyena: Most widespread, skilled predators, live in female-led clans, declining numbers.
    • Striped Hyena: Nocturnal, solitary, omnivorous, carcass scavengers, use scent marking (“natural lavatories”). Found
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      in India.
    • Brown Hyena: Southern Africa, scavengers, supplement diet with fruits/insects, live in small clans.
    • Aardwolf: Termite specialist (eats up to 300,000 termites/night), socially monogamous, threatened by pesticides.

  • Ecological Importance: Hyenas regulate herbivore populations (hunters), clean up carcasses preventing disease (scavengers), return nutrients to the soil, control insect populations.

  • Conservation Status (IUCN):

    • Spotted Hyena: Least Concern but declining (fewer than 50,000).
    • Striped Hyena: Near Threatened (less than 10,000 mature individuals).
    • Brown Hyena: Near Threatened (just over 10,000).
    • Aardwolf: Least Concern (exact numbers unknown).

  • The hyena is often mischaracterized as the ‘villain of the African Savanna’

  • Call to Action: Changing negative public perception is crucial for securing hyena’s future.

Bone Collector Caterpillar

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  • Discovery: A new carnivorous caterpillar, nicknamed the “bone collector,” has been discovered on Oahu, Hawaii.
  • Unique Behavior: It constructs a protective case using the body parts (ant heads, fly wings) of its prey.
  • Habitat: Found
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    in a small, isolated mountain forest on Oahu.
  • Diet: Feeds on insects trapped in spider webs, decorating its case with their remains.
  • Camouflage: Scientists suspect the case may serve as camouflage, allowing it to steal prey from spiders.
  • Rarity: Predatory caterpillars are extremely rare, and this species is even cannibalistic.
  • Ancient Lineage: Its origins date back at least 6 million
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    years, older than the Hawaiian islands.
  • Vulnerable: Habitat is threatened by invasive species.
  • Significance: First caterpillar to use ant heads and fly wings for case construction.

MR-SAM

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  • Successful Test-Firing: The Indian Navy recently conducted a successful test-firing of the Medium Range Surface-to-Air Missile (MR-SAM) from the INS Surat warship in the Arabian Sea.
  • Air Defence System: MR-SAM is an air defence missile system designed to neutralize aerial threats.
  • Threats Neutralised: Capable of intercepting missiles, aircraft, guided bombs and helicopters
  • Quick Reaction: It is a high-response, quick-reaction missile system.
  • Joint Development: Developed jointly by India’s Defence Research and Development Organisation (DRDO) and Israel Aerospace Industries.
  • Production: Produced
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    at Bharat Dynamics Limited (BDL).
  • System Components: Includes command and control system, tracking radar, missiles, and mobile launcher systems.
  • Mobile Launcher: Transports, emplaces, and launches up to eight canisterised missiles.
  • Firing Modes: Can fire missiles in single or ripple firing modes from a vertical position.
  • Missile Specs: 4.5 m long, weighs 276 kg, equipped with canards and fins.
  • Advanced Features: Has advanced active radar RF seeker, rotating phased array radar, and bidirectional data link.
  • Propulsion: Powered by a dual-pulse solid propulsion system developed by DRDO, enabling a maximum speed of Mach 2.
  • Range: Can engage multiple targets simultaneously at a range of 70 km.

I4C: India Cyber Defense

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  • I4C-ED Information Sharing: The government has authorized the Indian Cybercrime Coordination Centre (I4C) to share and receive information with the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA).

  • Purpose: This move aims to detect money trails and combat cyber frauds by facilitating the identification of masterminds behind these crimes.

  • Section 66 of PMLA: The Revenue Department included I4C under Section 66 of PMLA via a notification dated April 25, enabling the information exchange with the ED and other law enforcement agencies (LEAs).

  • Cyber Fraud Trends: Online frauds are perpetrated through fake websites, deceptive social media pages, paid advertisements, and phishing tactics (OTP/weblink sharing).

  • Reporting Mechanisms: The public is urged to report cybercrime incidents on the National Cybercrime Reporting Portal (cybercrime.gov.in) or call the

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helpline number 1930.

  • I4C’s Role: I4C acts as the nodal point at the national level to fight cybercrime, bringing together government, academia, industry, and the public.

  • Transnational cyberfrauds: Information sharing will help identify the masterminds behind such frauds which are mostly trans-national.

    • MR Elimination Campaign

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    • National Zero Measles-Rubella Elimination Campaign (2025-26) Launched: Aiming to eliminate Measles and Rubella (M-R) in India by 2026. Launched during World Immunization Week (April 24-30) under the Universal Immunization Programme (UIP).

    • Goal: Achieve 100% immunization coverage with two doses of the M-R vaccine.

    • Progress:

      • Over 90% M-R vaccination coverage in 2024-25. (HMIS data reports 93.7% for first dose and 92.2% for second dose)
      • 73% reduction in measles cases and 17% reduction in rubella cases in 2024 compared to 2023.
      • 332 districts reported zero Measles cases and 487 districts reported zero Rubella cases during January-March 2025.

    • Strategy:

      • Achieve >95% vaccination coverage.
      • Strengthen surveillance.
      • Ensure quick outbreak response.
      • Address vaccine hesitancy through awareness campaigns.

    • “ACT NOW” Policy: Focuses on eliminating M-R similar to Polio and Maternal and Neonatal Tetanus

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      elimination.

    • International Recognition: India received the M-R Champion Award (2024) for its efforts in disease elimination.

    • IEC Materials Released: Multi-language posters and radio jingles to create awareness.

    • Call to Action: States and UTs urged to be proactive, involve local leaders, and reach remote areas to achieve 100% coverage.

    • Measles & Rubella: Contagious viral diseases affecting children, preventable through vaccination. Measles complications can be severe, and rubella during pregnancy can lead to Congenital Rubella Syndrome (CRS).

    • Under UIP: Two doses of MR vaccine are provided free of cost at 9-12 months and 16-24 months of age.

    Similipal

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    • Similipal Declared National Park: Odisha’s Similipal Tiger Reserve is now the state’s second National Park and India’s 107th. This was a long-pending proposal since 1980.
    • Significance of Declaration: The 845.70 sq/km area is now ‘rights free’, prohibiting all human activities for enhanced conservation. The remaining 2,750 sq/km will remain a wildlife sanctuary with limited human activity.
    • Ecological Importance: Similipal is home to diverse flora and fauna, including melanistic tigers, royal Bengal tigers, a significant elephant population, and numerous orchid species. It is recognised as a wildlife sanctuary, project tiger, UNESCO biosphere reserve, and elephant reserve.
    • Greater Similipal Landscape Programme: The Odisha government is implementing this to protect the new National Park and its ecological corridors. AI powered surveillance, communication networks, and dedicated security forces will be employed.
    • Tiger Conservation: To enhance the tiger population and genetic diversity, two female tigers were introduced from Maharashtra’s Tadoba Andheri
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      Tiger Reserve, targeting a population of 100 tigers by 2036.
    • Community Development: The “Ama Similipal Yojana” focuses on livelihood improvement, skill training, eco-tourism promotion, and infrastructure upgrades
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      for local communities.
    • No Downgrading: A national park cannot be downgraded to a wildlife sanctuary.

    Kasturirangan’s Impact

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    • Death of Dr. K. Kasturirangan: Former ISRO chairman (1994-2003) passed away in Bengaluru.

    • Leadership at ISRO:

      • Oversaw the development of Chandrayaan-1, India’s first lunar mission.
      • Operationalized key satellite series: IRS, INSAT.
      • Launched PSLV and GSLV.
      • Project Director for BHASKARA-I & II (experimental earth observation satellites).

    • Remote Sensing and National Development:

      • Key role in National Natural Resource Management System (NNRMS) for
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        satellite-based services (agriculture, water, forestry, health).
      • Expanded India’s
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        remote sensing program. IRS-1C and IRS-1D provided high-resolution data.

    • Pioneering Space Applications: Initiated thematic space missions like EDUSAT, INSAT/GSAT, OCEANSAT, and CARTOSAT for social and economic development.

      • Supported the development of multi-wavelength astronomy mission, AstroSat.

    • Policy Contributions:

      • Rajya Sabha member, Planning Commission member.
      • Chaired the committee that drafted the National Education Policy (NEP) 2020.
      • Chaired the committee for reviewing the Western Ghats Ecology report, recommending 37% be declared ESA.

    • Recognition and Awards: Padma Shri, Padma Bhushan, Padma Vibhushan, and international recognition.

    • Transformative Impact: Shaped India’s space ambitions, educational framework, and environmental conservation efforts. His work inspired countless individuals to pursue careers in science.