Prelims Factoids
Virtual Vesak Global Celebrations on Buddha Purnima

Relevance IN - Prelims ( about buddha Purnima + about Virtual Vesak Global Celebrations)
What's the NEWS

• Prime Minister Shri Narendra Modi will deliver the keynote address on the occasion of Virtual Vesak Global Celebrations on Buddha Purnima i.e. on 26th May 2021
• he event is being organised by the Culture Ministry in collaboration with the International Buddhist Confederation (IBC) and will witness participation of all the supreme heads of the Buddhist Sanghas from around the world.
• Over 50 most prominent Buddhist religious leaders from around the world will address the congregation.
• Buddha Purnima celebrations are being held through a virtual congregation owing to the impact of the COVID-19 Pandemic.
• Buddha Purnima is celebrated to mark the birth of Gautam Buddha, the founder of Buddhism.
• It is considered a 'triple-blessed day' - as Tathagata Gautam Buddha's birth, enlightenment, and Maha Parnirvana.
• Vesak- Buddha Poornima, is considered the Triple Blessed Day as it celebrates Tathagata Gautam Buddha's Birth, Enlightenment and Maha Parnirvana.

Know! about Virtual Vesak Global Celebrations

• Vesak also known as Buddha Jayanti and Buddha Day, is a holiday traditionally observed by Buddhists and Hindus in South and Southeast Asia as well as Tibet and Mongolia.
• The festival commemorates the birth, enlightenment (Nibbāna), and death (Parinirvāna) of Gautama Buddha in Theravada Tibetan Buddhism and Navayana.
• In the East Asian tradition, a celebration of Buddha's Birthday typically occurs around the traditional timing of Vesak.
• The Buddha's awakening and death are celebrated as separate holidays that occur at other times in the calendar as Bodhi Day and Nibbāna Day.
• The decision to agree to celebrate Vesak as the Buddha's birthday was formalized at the first conference of the World Fellowship of Buddhists held in Sri Lanka in 1950, although festivals at this time in the Buddhist world are a centuries-old tradition.

The resolution that was adopted at the World Conference reads as follows:

• That this Conference of the World Fellowship of Buddhists, while recording its appreciation of the gracious act of His Majesty, the Maharaja of Nepal in making the full-moon day of Vesak a Public Holiday in Nepal, earnestly requests the Heads of Governments of all countries in which large or small number of Buddhists are to be found, to take steps to make the full-moon day in the month of May a Public Holiday in honour of the Buddha, who is universally acclaimed as one of the greatest benefactors of Humanity.

Know! more about Vesak Day

• On Vesak Day, Buddhists all over the world commemorate events of significance to Buddhists of all traditions: The birth, enlightenment and the passing away of Gautama Buddha.
• In India, Vaishakh Purnima day is also known as Buddha Jayanti day and has been traditionally accepted as Buddha's birth day.
• In 2000, the United Nations (UN) resolved to internationally observe the day of Vesak at its headquarters and offices.
• The name of the observance is derived from the Pali term vesākha or Sanskrit vaiśākha, which is the name of the lunar month used in ancient India falling in April-May.
• In Mahayana Buddhist traditions, the holiday is known by its Sanskrit name (Vaiśākha) and derived variants of it.

Know! about IBC

• International Buddhist Confederation is the biggest religious Buddhist confederation, based in Delhi, India.
• The architect of the International Buddhist Confederation is Lama Lobzang.
• This confederation is named as the first organization which unites Buddhists from the whole world.

Economy
Constitution of an Expert Committee on Investment Funds

Relevance IN - Prelims ( about IFSCA + about the role of Expert Committee on Investment Funds) + Mains ( GS III economic development)
Know! about Expert Committee on Investment Funds

• IFSCA, in its endeavour to develop a comprehensive and consistent regulatory framework based on global best practices with a special focus on ease of doing business, has constituted an Expert Committee on Investment Funds to recommend to IFSCA on the road map for the funds industry in the IFSCs.
• The Committee has been constituted under the Chairmanship of Mr. Nilesh Shah, MD, Kotak Mahindra Asset Management Co. Ltd.
• The Committee comprises of leaders from the entire Fund Management ecosystem including from areas such as technology, distribution, legal, compliance, and operations.

Know! about IFSCA

• The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services and financial institutions in the International Financial Service Centres (IFSCs) in India.
• The Fund Industry has been playing an increasingly important role in intermediating between seekers of capital and investors.
• IFSC has been actively engaging with stakeholders to enhance the Global reach of GIFT-IFSC.
• The regulatory approach has been to benchmark with Global Standards and adopt a facilitative framework to provide ease of operations for seeker as well as provider of capital.

Disaster Management
National Disaster Response Force Academy, Nagpur

Relevance IN - Prelims ( about the role of NDRF)
What's the NEWS

• The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the proposal of the Ministry of Home Affairs for creation of one (01) post of Director in Senior Administrative Grade (SAG), at National Disaster Response Force Academy, Nagpur.
• The Academy will impart skill based practical training to over 5000 personnel annually, from NDRF, SDRF, CD volunteers, other stakeholders and disaster response agencies of SAARC and other countries.
• It will also cater to analyzing and improving the training programmes as per changing needs and requirement of the Stakeholders.
• It will immensely improve the standard of training imparted on disaster response to NDRF, SDRF personnel and other stakeholders.

Know! about NDRF

• National Disaster Response Force Academy was established in year 2018 at Nagpur by merging with it National Civil Defence College (NCDC).
• The main campus of the Academy is under construction, till then it is functioning from the existing campus of NCDC.
• The Academy presently imparts training to National Disaster Response Force (NDRF)/ State Disaster Response Force (SDRF)/ Civil Defence volunteers and other stakeholders and is envisaged to grow into a premier training institution of international repute.
• It will also provide specialized training to disaster response personnel of SAARC and other countries.

Miscellaneous
National Mission on use of Biomass in coal based thermal power plants

Relevance In - Prelims ( about National Mission on use of biomass in thermal power plants) + Mains ( GS III Energy sector)
What's the NEWS

• In order to address the issue of air pollution due to farm stubble burning and to reduce carbon footprints of thermal power generation, Ministry of Power has decided to set up a National Mission on use of Biomass in coal based thermal power plants.
• This would further support the energy transition in the country and our targets to move towards cleaner energy sources.

The "National Mission on use of biomass in thermal power plants" will have the following objectives;
a. To increase the level of co-firing from present 5% to higher levels to have a larger share of carbon neutral power generation from the thermal power plants.
b. To take up R&D activity in boiler design to handle the higher amount of silica, alkalis in the biomass pellets.
c. To facilitate overcoming the constraints in supply chain of bio mass pellets and agro- residue and its transport upto to the power plants.
d. To consider regulatory issues in biomass co-firing.

Prelims Factoids
International Day of Biological Diversity

Relevance IN - Prelims ( about The International Day for Biological Diversity)
What's the NEWS

• Experts from different parts of India discussed the importance and different aspects of biodiversity conservation, its relationship with technology and sustainable development at a programme organised on the occasion of International Day of Biological Diversity.
• The programme organised by BioNest-IASST, along with Institute of Advanced Study in Science and Technology (IASST) Guwahati, an autonomous institute of the Department of Science & Technology (DST).
• The programme was attended by several dignitaries, including faculty members, staff, and research scholars of the Institute via an online digital platform following the Covid-19 protocol.
• The International Day for Biological Diversity is a United Nations-sanctioned international day for the promotion of biodiversity issues held on May 22 annually which falls within the scope of the UN Post-2015 Development Agenda's Sustainable Development Goals.

International Day for Biological Diversity

• The International Day for Biological Diversity (or World Biodiversity Day) is a United Nations-sanctioned international day for the promotion of biodiversity issues. It is currently held on May 22.
• The International Day for Biological Diversity falls within the scope of the UN Post-2015 Development Agenda's Sustainable Development Goals.
• In this larger initiative of international cooperation, the topic of biodiversity concerns stakeholders in sustainable agriculture; desertification, land degradation and drought; water and sanitation; health and sustainable development; energy; science, technology and innovation, knowledge-sharing and capacity-building; urban resilience and adaptation; sustainable transport; climate change and disaster risk reduction; oceans and seas; forests; vulnerable groups including indigenous peoples; and food security.
• The critical role of biodiversity in sustainable development was recognized in a Rio+20 outcome document, "The World We Want: A Future for All".
  
  

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