Indian Siris
Why in News: A wave of sadness swept over Kumaradevam gram panchayat in the East Godavari district following the death of the century-old Indian siris tree.
About Indian Siris
- Scientific Name: Albizia lebbeck
- Native Region: India and Southeast Asia
- Family: Fabaceae
- Type: Deciduous tree
- Climate: Prefers warm and humid conditions
- Soil Types: Can thrive in clay, loam, and sandy soils
Features:
- Height: Grows up to 15-20 meters
- Canopy: Wide-spreading, umbrella-shaped
- Trunk: Straight, up to 1 meter in diameter
- Leaves: Green, fern-like, up to 25 cm long
- Branching Pattern: Moderate to dense, spreading outward and upward
- Flowers: Small, white, and fragrant, in clusters
Ecological Role:
- Nitrogen Fixation: Enriches the soil and supports other plant species by fixing atmospheric nitrogen
- Soil Conservation: Extensive, shallow root system acts as a soil binder, aiding in soil conservation and erosion control
Asset Management Companies (AMCs)
Why in News: In a recent circular, SEBI stated that CEOs, Managing Directors (MDs), or any equivalent officials of Asset Management Companies (AMCs) will be held responsible and accountable for establishing mechanisms to prevent potential market abuse.
About Asset Management Companies (AMCs)
AMCs pool funds from multiple investors and invest in various financial instruments (stocks, bonds, real estate) to generate returns in exchange for a fee.
- Other Names: Commonly known as money managers or money management firms.
Types of AMCs:
- Hedge funds
- Mutual funds
- Index funds
- Exchange-traded funds (ETFs)
- Private equity funds
- Other funds
Investment Companies: Those offering public mutual funds or ETFs are also known as investment companies or mutual fund companies.
Clientele:
Types of Clients:
- Retail investors
- Institutional investors
- Public sector (government organizations)
- Private sector
- High-net-worth clients
Roles and Responsibilities:
- Investment Decisions: AMCs make investment decisions and manage investors’ portfolios by choosing a suitable mix of investments to help grow their money.
- Fund Managers: Professionally qualified fund managers with investment expertise are appointed to manage assets.
- Investment Strategies: Fund managers use investment strategies and financial tools, such as risk management techniques, to manage portfolios and protect assets.
- Research Support: Research analysts assist fund managers in their roles.
Key Metrics:
- Assets Under Management (AUM): The total value of investments managed by an AMC, indicating investor confidence and trust.
Regulation:
- Governing Body: The Securities and Exchange Board of India (SEBI) regulates and controls every AMC in India.
Global Alliance for Improved Nutrition (GAIN)
Why in News: A recent report by the Global Alliance for Improved Nutrition (GAIN) advocates for investing in nutrition within the agri-food sector. It asserts that such investments can help reduce gender inequalities, boost productivity, and improve business resilience.
About Global Alliance for Improved Nutrition (GAIN)
Swiss-based foundation launched at the United Nations in 2002 to combat malnutrition.
- Headquarters: Located in Geneva, Switzerland, with offices in countries experiencing high levels of malnutrition.
Mission and Approach:
- Collaborations: Works with governments, businesses, and civil society to make healthier food choices more affordable, available, and desirable.
- Purpose: Aims to improve nutrition outcomes by increasing the consumption of nutritious and safe food, especially for vulnerable populations.
Strategies:
- Public-Private Partnerships: Mobilizes partnerships and provides financial and technical support to deliver nutritious foods to those most at risk of malnutrition.
- Maternal and Infant Health: Supports improved maternal and infant health through the promotion of breastfeeding and specialized products for infants over six months and young children.
- Local Business Partnerships: Collaborates with local businesses to enhance the quality of food along agricultural value chains.
Impact:
- Reach: GAIN-supported nutrition programs reach an estimated 667 million vulnerable people in over 30 countries.
Dark Patterns
Why in News: Recent research indicates that mobile apps frequently employ deceptive design strategies, known as dark patterns, to manipulate users into taking unintended actions.
About Dark Patterns
Dark patterns are deceptive and manipulative user interface (UI) design techniques used by websites, apps, and other digital platforms to trick or manipulate users into taking actions they may not intend to take or to make decisions not in their best interest.
- Purpose: Employed to influence user behavior in a way that benefits the company implementing them.
Origins:
- Term Coined: The term “dark patterns” was coined in 2010 by Harry Brignull, a user experience specialist.
Usage:
- Common Applications: Often used to encourage users to sign up for services, make purchases, or share personal information, among other actions.
- Mechanism: Exploit cognitive biases and psychological principles to influence user behavior.
- Tactic Range: Can vary from subtle and mildly misleading to overtly aggressive tactics.
Types:
- Examples of Dark Patterns:
- Friend spam
- Forced continuity
- Disguised ads
- Confirm shaming
- Bait and switch
- Hidden costs
- Roach motel
- Privacy zuckering
- Misdirection
- Price comparison prevention
- Trick questions
- Sneak into basket
Example in Practice:
- Confirm Shaming: Using a phrase, video, audio, or other means to create a sense of fear, shame, ridicule, or guilt in the user to nudge them into acting a certain way.
Regulation:
- Indian Guidelines: In November 2023, the Department of Consumer Affairs, Government of India, released guidelines for 13 dark patterns.
- Legal Implications: According to these guidelines, using any of these prescribed dark patterns constitutes a misleading advertisement, an unfair trade practice, or a violation of consumer rights.
VIRAASAT
Why in News: “VIRAASAT,” a two-week-long exhibition commemorating the 10th National Handloom Day, recently commenced at Handloom Haat in Janpath.
About VIRAASAT
National Handloom Development Corporation Ltd (NHDC) under the Ministry of Textiles.
Event Series:
- Name: “VIRAASAT” – the “Exclusive Handloom Expo.”
- Purpose: Continues the celebrations from the previous year’s National Handloom Day.
Focus:
- Theme: Highlights the rich tradition of handloom and handicrafts.
- Market Connection: Provides market access to handloom weavers and artisans.
Products Featured:
- Examples: Banarasi, Jamdani, Baluchari, Madhubani, Kosa, Ikkat, Patola, Tussar Silk, Maheshwari, Moirang Phee, Baluchari, Phulkari, Laheriya, Khandua, and Tangaliya.
Key Facts about National Handloom Day
Historical Context:
- Swadeshi Movement: Launched on 7th August 1905, encouraging indigenous industries, particularly handloom weavers.
- Commemoration: Since 2015, the Government of India has celebrated National Handloom Day annually on 7th August.
- First Celebration: Held on 7th August 2015 in Chennai.
Objective: Recognition: Aims to honor the efforts and skills of the weaver community in this sector.