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Important Daily Facts of the Day

13Nov
2024

13 November, Quick Facts of the Day

13 November, Quick Facts of the Day

1.         Justice Sanjiv Khanna was recently sworn in as the 51st Chief Justice of India (CJI), succeeding Justice D.Y. Chandrachud. He has been part of significant rulings, including the abrogation of Article 370 and the Aligarh Muslim University minority status case. The qualifications for CJI include being a citizen of India, having been a High Court judge for 5 years or an advocate for 10 years, or being a distinguished jurist. The President appoints the CJI based on seniority, with the senior-most Supreme Court judge usually chosen. As "Master of the Roster," the CJI assigns cases and determines hearing schedules. The CJI also plays a role in judicial appointments and can shift the Supreme Court's seat with the President's approval. The CJI can only be removed by the President after a special majority vote in Parliament.

 

2.         India's Defence Space Agency recently conducted its first-ever Space Exercise, Antariksha Abhyas, in New Delhi, aimed at simulating and analyzing threats to space-based assets and securing national strategic objectives in space. The exercise focused on enhancing the integration of space capabilities into military operations, understanding dependencies on space assets, and identifying vulnerabilities, particularly in case of disruptions or denial of space services. The Indian military uses space for various operations, including border surveillance, artillery tracking, and missile launches. India's space capability was bolstered by the successful anti-satellite (ASAT) test, Mission Shakti, in March 2019. While the 1967 Outer Space Treaty mandates peaceful use of outer space, the Kármán line at 100 km above sea level marks the boundary where Earth’s atmosphere ends and space begins.

 

3.         The Reserve Bank of India (RBI) has introduced a framework allowing foreign portfolio investors (FPIs) to convert investments above 10% of a company’s paid-up equity into foreign direct investment (FDI). This reclassification must be completed within five trading days. FDI refers to direct capital investment in unlisted companies or 10% or more equity in listed companies, while FPIs hold smaller stakes. The framework includes compliance with the Foreign Exchange Management (FEM) Rules, 2019, and excludes sectors with FDI restrictions, such as gambling and real estate. This move complements a similar regulation by the Securities and Exchange Board of India (SEBI). Additionally, the 2020 amendment to FDI policy restricts investments from countries sharing a land border with India. The key distinction between FDI and FPI lies in control, investment approach, and risk, with FDI involving long-term, direct involvement, and FPI being a passive, short-term financial investment.

 

4.         India is showing significant progress in higher education, as reflected in the QS World University Rankings: Asia 2025, with two institutions—Indian Institute of Technology Delhi (IIT-D) and IIT Bombay—ranking in the top 50 at 44th and 48th positions, respectively. Five more institutions, including IIT Madras and Indian Institute of Science, are in the top 100. India's overall performance is buoyed by strong research productivity, academic excellence, and growing international research networks. In the last decade, the number of Indian institutions in the QS rankings has increased by 318%, with 46 institutions now listed, up from just 11 in 2015. This rise in rankings enhances India's global recognition, attracting international students and faculty, boosting foreign direct investment (FDI) in education, and improving academic standards. The QS rankings assess universities based on research reputation, learning environment, research impact, and internationalization.

 

5.         India ranks 176th in the 2024 Global Nature Conservation Index (NCI), positioning it among the five lowest-ranked nations, alongside Kiribati, Turkey, Iraq, and Micronesia. This low ranking is primarily attributed to inefficient land management, increasing biodiversity threats, and poor environmental conservation practices. The NCI, developed by the Goldman Sonnenfeldt School of Sustainability and BioDB.com, assesses four key factors: land management, biodiversity threats, governance capacity, and future trends. India's challenges include unsustainable land use, with 53% of land converted for urban, industrial, and agricultural purposes. High pesticide use, soil pollution, and weak marine conservation (only 0.2% of national waterways protected) exacerbate the issue. The country also ranks fourth globally in illegal wildlife trade, with annual sales of about 15 billion Euros. Deforestation has led to the loss of 23,300 sq. km of tree cover between 2001 and 2019, while overpopulation continues to threaten India’s ecological wealth.