Current Affairs 19 March 2024 for UPSC And State PSC Exam

Here is the 19 March Current Affairs for UPSC 2024 covering the headlines on the Foot-and-mouth disease (FMD), Exercise LAMITIYE, T+0 Settlement

Table of Contents

Foot-and-mouth disease (FMD)

News- In Pilibhit district, Uttar Pradesh, approximately 60% of dairy cattle have been impacted by the Foot-and-Mouth Disease (FMD).

About

A highly contagious viral disease affecting livestock, with significant economic implications.
Impacts cattle, swine, sheep, goats, and other cloven-hoofed ruminants; does not affect horses, dogs, or cats.
More prevalent in intensively reared animals compared to traditional breeds.
Classified as a Transboundary Animal Disease (TAD) that affects livestock production and international trade in animals and their products.
Distinct from hand, foot, and mouth disease, a common childhood illness caused by a different virus.
Caused by the aphthovirus from the family Picornaviridae.
Seven strains of the virus (A, O, C, SAT1, SAT2, SAT3, and Asia1) are endemic globally, with immunity to one strain not offering protection against others.
Symptoms include fever and blister-like sores on the tongue, lips, in the mouth, on the teats, and between the hooves.
Rarely fatal in adults but can cause high mortality in young animals, severe production losses, and long-term debilitation in survivors.
First disease to receive official status recognition by the World Organisation for Animal Health (WOAH, originally OIE).

Exercise LAMITIYE

News- The Indian Army dispatched a contingent to Seychelles for the tenth iteration of the joint military exercise named “LAMITIYE-2024.”

About-

Joint military exercise between the Indian Army and Seychelles Defence Forces (SDF).
Named “LAMITIYE,” which stands for “Friendship” in the Creole language.
A biennial event, taking place in Seychelles since 2001.
Participation of 45 personnel from both the GORKHA RIFLES of the Indian Army and the SDF in the 2024 exercise.
Aims to enhance cooperation and interoperability during Peace Keeping Operations.
Focus on building and promoting bilateral military relations, exchanging skills, experiences, and best practices.
Joint training, planning, and execution of tactical drills for threat neutralization in Semi-Urban environments.
Emphasis on exploiting and showcasing new-generation equipment and technology.

T+0 Settlement

News- Recently, the Securities and Exchange Board of India (SEBI) greenlit the initiation of the beta version for T+0 settlement, offering it as an optional choice.

About

T+0 Settlement Definition: Settlement process where financial transactions are completed on the same day the trade is executed.
Instantaneous Process: Enables the immediate transfer of securities and funds between trading parties.
Current Indian Market Practice: As of now, India primarily operates on a T+1 settlement cycle, where transactions are settled the day after the trade.
Evolution of Settlement Cycles in India:
- Initially, settlements took up to T+5 days.
- SEBI reduced this to T+3 in 2002, then to T+2 in 2003.
- T+1 settlement cycle introduced in 2021 and fully implemented by January 2023.
Benefits of T+0 Settlements:
- Provides instant receipt of funds and securities for investors.
- Eliminates the risk of settlement shortages.
- Offers investors greater control over their assets.
- Reduces counterparty risk, potentially lowering the risk of default.
- Increases market liquidity by allowing funds to be reinvested or withdrawn faster.
Global Perspective: Several international exchanges, such as the Moscow Exchange (MOEX), Korea Exchange (KRX), Taiwan Stock Exchange (TWSE), and Hong Kong Stock Exchange (HKEX), offer T+0 settlements for certain trades, highlighting its feasibility and advantages in fast-paced markets.
Future Implications: The adoption of T+0 settlements could revolutionize trading efficiency and security, fostering a more dynamic and responsive financial market ecosystem.