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CURRENT AFFAIRS
JUNE 2020
2.2. E-DIPLOMACY
Why in news?
The first ever India Australia virtual summit in the wake of COVID-19 crisis has brought the concept of e-diplomacy
to limelight.
More on news
• Globally, many nations have taken to e diplomacy routes to keep the momentum of foreign relations going,
amid COVID-19.
• Other recent summits like Extraordinary virtual G20 Leaders’ Summit, SAARC virtual summit, Non-Aligned
Movement Summit have been held virtually.
About e diplomacy
• E diplomacy is the use of internet and communication technologies by nations to define and establish
diplomatic goals and objectives and to efficiently carry out the functions of diplomats.
• These functions include representation and promotion of the home nation, establishing both bilateral and
multilateral relations, consular services and social engagement.
• Advantages
o Continuum of diplomacy and physical safety in extra-ordinary situations: In times of crisis like the
ongoing Pandemic, e-diplomacy mitigates the physical contact between leaders and ensures their safety
along with progressing diplomatic talks.
o Economically prudent: This also saves huge amounts of national money by omitting costly travels and
lavish events.
3.13. AGRIDEX
Why in news? Futures
National Commodity and Derivatives Exchange • These are a type of derivative instrument.
(NCDEX) announced the commencement of trading in o A derivative is an instrument whose value is
derived from the value of one or more
the country’s first agriculture futures index called
underlying assets, which can be commodities,
AGRIDEX precious metals, currency, bonds, stocks, stocks
More on news indices, etc.
o Common examples of derivative instruments are
• NCDEX AGRIDEX is India’s first return based Forwards, Futures, Options and Swaps.
agricultural futures Index which tracks the • In futures, there is an agreement to buy or sell a
performance of the ten liquid commodities (both specified quantity of financial instrument or physical
kharif and rabi seasons) traded on NCDEX commodity in a designated future month at a price
platform. agreed upon by the buyer and seller.
o Ten commodities include Castor seed, Chana, About NCDEX
Coriander, Cotton Seed Oil cake, Guar Gum, • It is the country’s leading agricultural commodity
Guar Seed, Jeera, Mustard Seed, Ref Soya oil exchange, which offers services across the entire
value-chain of agricultural commodities.
and Soy bean.
o No group of related commodities may • It offers a wide range of benchmark products across
agriculture commodities.
constitute more than 40% of the total
• It brings buyers and sellers together through its
weightage in the index in order to ensure
electronic trading platform.
diversification.
• It will facilitate the participants in hedging their commodity risk based on price anticipation of the products.
• It is based on the revised guidelines issued by the Securities and Exchange Board of India (SEBI), which
allowed futures trading in commodity indices.
• NCDEX has partnered with National Stock Exchange (NSE) Indices, a leading Index service provider, to
maintain and disseminate real-time NCDEX AGRIDEX values.
About Sundarbans
• The Sundarbans mangrove forest, one of the largest such forests in the world (140,000 ha), lies on the delta of the
Ganges, Brahmaputra and Meghna rivers on the Bay of Bengal. It is adjacent to the border of India’s Sundarbans
World Heritage site inscribed in 1987.
• The site is intersected by a complex network of tidal waterways, mudflats and small islands of salt-tolerant
mangrove forests, and presents an excellent example of ongoing ecological processes.
• The area is known for its wide range of fauna, including 260 bird species, the Bengal tiger and other threatened species
such as the estuarine crocodile and the Indian python.
Mangrove Cover: According to the India State of Forest Report, 2019
• There has been a net increase of 54 sq km in the mangrove cover of the country as compared to 2017 assessment.
• The mangrove cover in the country is 4,975 sq km, which is 0.15% of the country’s total geographical area. West
Bengal has 42.45% of India’s mangrove cover, followed by Gujarat (23.66%) and A&N Islands (12.39%).
Way forward
• Adoption of Circular Economy, which aims to eliminate waste, not just from recycling processes, but
throughout the lifecycles of products and packaging it maximize value and eliminate waste by improving the
design of materials, products and business models.
• Provide incentives to industry by introducing tax rebates or other conditions to support its transition to phase
out use of plastic.
• Need to integrate the informal sector, and increase citizens’ environmental awareness and promote efficient
coordination and communication between stakeholders involved.
8.4. KUSHINAGAR
Why in News?
The Union Cabinet has recently given its approval for declaration of Kushinagar Airport in Uttar Pradesh as an
International Airport.
About Kushinagar
• Kushinagar is one of the important Buddhist Pilgrimages sites and is also a part of the Buddhist Circuit as Lord
Buddha attained Mahaparinirvana here.
o Mahaparinirvana in Buddhism refers to the ultimate state of Nirvana (everlasting, highest peace and
happiness) entered by an awakened being at the moment of physical death.
• Prominent archaeological sites in the city are the Mahaparinirvana Stupa and temple (the latter houses a
stunning 1,500-year-old reclining Buddha) and the Muktabandhan Stupa (representing the Buddha’s
cremation site).