03 July 2023

MAINS DAILY QUESTIONS & MODEL ANSWERS

Q1. Outline the RBI’s green deposit framework and talk about the effects it will have on investors and the environment.

Paper & Topic: GS III – Indian Economy

• Model Answer:

• The Reserve Bank of India (RBI) created a regulatory framework to enable banks to accept client green deposits. Under the new approach, banks that accept green deposits will have to provide additional details regarding how they invest in these deposits. The framework defines “green deposits” as interest-bearing deposits accepted by regulated businesses for a predetermined period of time, the proceeds of which are earmarked for green finance.

• Important elements of the green deposit policy of the RBI:

• When investing in green customer deposits, banks will need to create a set of rules or policies that must be followed. These rules or policies must also be authorised by each bank’s board.
• The banks must routinely report information on the amount of green deposits received, how these deposits were allocated among various green initiatives, and the environmental effects of such investments. These regulations must be displayed on the banks’ websites.
• It will be necessary for a third party to independently verify the claims made by banks regarding the projects in which they invest their green deposits and the reputations for sustainability of these commercial firms.
• The RBI has compiled a list of sectors that qualify for receiving green deposits because they fall under the sustainability umbrella. These include waste management, renewable energy, energy efficiency, and clean mobility.
• Green deposits won’t be permitted to be invested by banks in projects involving nuclear power, fossil fuels, cigarette manufacturing, or other damaging items.

• Investors should choose green deposits because:

• Financial products that are ecologically friendly: Customers who care about the environment could feel better about investing their money in such products.
• Green deposits are basically deposits with an extra “green” condition related to how the money made from the deposit is used. Investors are encouraged as a result to demonstrate their dedication to climate resilience. With the assistance of such significant cash, they might be able to demonstrate their commitment to climatic resilience.
• Environmental, social, and governance (ESG) reporting benefits from ESG disclosure, a sort of public reporting by an organization’s management on its performance across a range of ESG concerns. Investments in green deposits can help businesses and organisations with their ESG reporting.

• The value of green deposits for the environment:

• Fighting climate change is without a doubt one of the most important regulatory concerns in recent years because the shift to sustainable corporate practises and energy-efficient technologies demands enormous financial resources. The accessibility of money for a transition to sustainability is a crucial element in preventing climate change.
• The deposit revenues are frequently used to fund or refinance assets that are covered by the Sustainable Development Goals (SDGs) of the United Nations, including waste management, renewable energy, energy efficiency, and other areas.
• Encourage green financing to protect the nation’s finite resources from shortages. This can be done by providing funds for renewable energy initiatives like solar, wind, and hydroelectric ones. Initiations that support resource utilisation that is energy-efficient, lowers greenhouse gas emissions, and reduces carbon emissions can also utilise green deposits.
• focuses on the problem of “greenwashing,” which occurs when a company’s management makes false, illogical, or obviously fraudulent statements about the sustainability of a product or service, or even on how its operations are carried out. The new framework deals with this problem and encourages actions that are really beneficial to the environment.
• Investors and financial institutions have a unique opportunity to contribute to a greener future thanks to the most recent framework on green deposits. In India, green financing is quickly gaining popularity. This might also help India achieve its long-term objective of producing net zero emissions by 2070.

Q2. Illuminate the numerous contributions made by women scientists to the domains of science and technology.

Paper & Topic: GS III – Science and Technology

• Model Answer:

• Since the dawn of time, women in India have had to face a variety of institutional and societal challenges, such as different social expectations, mobility restrictions, employment discrimination, a wage gap, career breaks, etc. Women have achieved tremendous success in science and technology despite these obstacles. From ancient times to the present, several Indian women scientists have made substantial contributions to a variety of fields, helping their country advance.

• Some of the countless contributions made by female scientists to the disciplines of science and technology include the following:

• Prior Periods:

• Leelavati: Leelavati was the daughter of the renowned mathematician Bhaskaracharya. Legend has it that Bhaskaracharya wrote a book in her honour to console her when her marriage was dissolved. She is also regarded as a talented mathematician and astrologe

• Ahead of Independence:

• Kadambini Ganguly: She was the first woman in South Asia to have a Western medical education in addition to being the first woman to graduate from a British Empire university.
• The first Indian woman scientist to make a substantial contribution to antenna and microwave engineering is Rajeswari Chatterjee. About 60 years ago, she was the only female professor at the Indian Institute of Science.
• Anna Mani: Anna Mani, an Indian physicist and meteorologist, investigated how ozone, wind, and sun radiation affect instruments. In Bangalore, she worked with C V Raman to explore the optical properties of diamond and ruby after being awarded a scholarship at the Indian Institute of Science.
• Asima Chatterjee: At the University of Calcutta in 1944, Asima Chatterjee became the country of India’s first woman to get a doctorate in science. Her field of expertise was natural products with an emphasis on medicinal chemistry.

• India following independence:

• Indira Hinduja: In 1986, she gave birth to an embryonic kid, making history as the first Indian woman to do so. She also developed the GIFT method, which resulted in the birth of the first GIFT kid in India in 1988.
• One of the first Indian women to visit the frigid continent of Antarctica was oceanographer Dr. Aditi Pant. She joined the third Indian expedition’s trip to Antarctica in 1983–84.
• Charusita Chakravarty: For her work on the development and application of quantum and classical computer simulation tools to comprehend the properties of liquids and their atom-level reorganisations, she has won accolades from all around the world.
• Tessy Thomas, known as the “Missile Woman” of India, is the first female scientist to direct a missile development in that country. She was the project director for the Agni IV and Agni V missions at the DRDO.
• STEM subjects (Science, Technology, Engineering, and Mathematics) are the primary driving forces behind the formation of an independent India and the advancement of the country. Women and girls make up half of the world’s population, and as a result, they also represent half of its potential. Closing the gender gap in STEM professions is essential if the nation is to realise its full potential. To better help our millennial girls comprehend the challenges, concerns, and uncertainties that result from cultural conditioning in young girls who are interested in a future in science, we should expose them to the professional experiences of women scientists.