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IASbhai Current Affairs News Analysis | Prelims & Mains 2020-21 is an initiative to dilute major articles from leading Newspapers in India which are most relevant to UPSC preparation –‘THE HINDU, LIVEMINT , INDIAN EXPRESS’ and help millions of readers who find difficulty in answer writing and making notes everyday. Hence we choose articles on daily basis and analyse them with respect to UPSC PRELIMS 2021.

“Life is what we make it, always has been, always will be.” – Grandma Moses

HIGHLIGHT INFO:

ORANGE COLOUR: Important for Prelims.

RED COLOUR: Important for Mains.

BLACK COLOUR: Must Read !

BLUE COLOUR : Important Links/Survey.

PINK COLOUR: Reports/Themes/Summits.

Current Affairs News Analysis for UPSC | 14th Dec 2020

Emergency Credit Line Guarantee Scheme (ECLGS) Fund

      HEADLINES:

Slowdown in loans sanctioned to struggling firms

      WHY IN NEWS:

The ECLGS scheme is a key stimulus for businesses battered by lockdown restrictions due to COVID-19

SYLLABUS COVERED: GS 3: Schemes

      ISSUE: 

There has been some slowdown in loans sanctioned to struggling businesses and micro, small and medium enterprises (MSMEs) over the months of October and November.

EMERGENCY CREDIT LINE GUARANTEE SCHEME (ECLGS) FUND

  • In its first three months, the Emergency Credit Line Guarantee Scheme (ECLGS) Fund had led to sanction of soft term loans of ₹1.86 lakh crore.
  • Out of which ₹1.32 lakh crore had been disbursed to ₹27.09 lakh borrowers by September 29.

₹3 lakh crore emergency credit guarantee scheme was announced in the month of May.

  • Between September 29 and December 4, loans sanctioned under the scheme rose by just ₹19,094 crore to a little over ₹2.05 lakh crore.
  • These sanctions pertain to 80.93 lakh accounts.
  • The total borrowers receiving funds under the scheme now stand at 40.49 lakh.

OBJECTIVE

  • The ECLGS is a key element of the government’s stimulus and support measures for firms battered by the lockdown restrictions put in place in March to curb the COVID-19 pandemic.

It provides additional working capital finance for 20% of a borrower’s outstanding credit as on February 29, 2020.

  • The financing is in the form of a term loan at a concessional rate of interest.

DISBURSEMENT

In November, the expansion of the scheme was to cover even larger firms operating in healthcare and the 26 most-stressed sectors identified by the K.V. Kamath Committee.

  • Firms with outstanding loans of ₹50 crore to ₹500 crore from sectors such as construction, real estate, textiles, power, cement, hotels and tourism, are eligible for support.

AID TO NBFCS

  • Similarly, the ₹45,000-crore Partial Credit Guarantee Scheme 2.0 to enable non-banking finance companies (NBFCs), housing finance companies and micro-finance institutions to undertake fresh lending to MSMEs.
  • Banks had approved purchase of loan portfolios of such entities worth ₹25,505 crore and purchased portfolios worth ₹16,401 crore by September 25.

      IASbhai WINDUP: 

  • Transactions being negotiated or awaiting approval at the time were around ₹3,171 crore at the time.
  • As on December 4, the portfolios approved for purchase stood at ₹27,794 crore, rising by just ₹2,289 crore.
  • The portfolios at the negotiation/approval stage had also declined to ₹1,400 crore.
     SOURCES:   PIB | Current Affairs News Analysis for UPSC | 14th Dec 2020

India-Bangladesh Summit 2020

      HEADLINES:

Connectivity, infrastructure key points in Modi-Hasina summit

      WHY IN NEWS:

The two leaders will hold a virtual meeting on December 17

SYLLABUS COVERED: GS 2 : IR

      ISSUE: 

KEY POINTS : INDIA BANGLADESH SUMMIT

  • Connectivity projects, including the resurrection of the 12-km Chilahati-Haldibari rail link after 55 years.
  • The Chilahati-Haldibari rail link, a British-era line, was abandoned after the India-Pakistan war in 1965 (when Bangladesh was East Pakistan).
  • This will be the fifth rail route connecting Bangladesh with Bengal.

The “major issues”, including the water sharing agreement for the Teesta and at least six other rivers.

  • The two countries have also had talks on water sharing for other peninsular rivers, including the Monu, Muhuri, Khowai, Gomti, Dharla and Dudhkumar.
  • The deliberations will also include killings of its nationals at the border, would also be raised by Bangladesh.

      IASbhai WINDUP: 

  • The meeting will also seek to restore the ‘momentum’ in ties after political differences over the Citizenship (Amendment) Act (CAA).
SUGGESTED READING : INDIA-BANGLADESH RELATIONS 
     SOURCES:  THE HINDU | Current Affairs News Analysis for UPSC | 14th Dec 2020

Rare Myristica swamp treefrog

      HEADLINES:

Rare Myristica swamp treefrog found in Thrissur

      WHY IN NEWS:

The exploration study lasted two years and the recording has been published in the December issue of Reptiles & Amphibians, an international journal dedicated to the studies of amphibians and reptiles.

SYLLABUS COVERED: GS 3: Conservation of Biodiversity

      ISSUE: 

Myristica swamp treefrogs are active during June and then retreat to the trees.

MYRISTICA SWAMP TREEFROG

MYRISTICA SWAMP TREEFROG

  • Myristica swamp treefrog, a rare arboreal species endemic to the Western Ghats that bears the scientific name Mercurana myristicapalustris.

It has been recorded for the first time north of the Shencottah gap in the Vazhachal Reserve Forest in Kerala’s Thrissur district.

  • The frog was first spotted in 2013 in the Myristica swamps of Arippa, near the Kulathupuzha Reserve Forest, in the western foothills of Agasthyamalai, in Kollam district.

UNIQUE TRAIT

  • These frogs are rare and elusive for the reason that they are arboreal and active only for a few weeks during their breeding season.
  • During this season, there is a large aggregation of males that descend from the high canopy of the trees.
  • The males vocalise in groups from the low perches in the swamps.
  • They exhibit unique breeding behaviour.

The breeding season, unlike for other frogs, starts in the pre-monsoon season (May) and ends before the monsoon becomes fully active in June.

  • Before the end of the breeding season, the female frogs along with their male counterparts descend on the forest floor.
  • The female digs the mud and lays eggs in shallow burrows in mud.

      IASbhai WINDUP: 

  • After breeding and egg-laying, they retreat back to the high canopies of the tree and remain elusive till next breeding season.
     SOURCES:  THE HINDU  | Current Affairs News Analysis for UPSC | 14th Dec 2020

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