MALUKA IAS
FACTLY
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Date :- 24th September

Citizen Science initiative

  • A citizen science initiative of documenting Indian hornbills is providing valuable inputs for the conservation of the unique bird. The data on hornbill presence outside protected areas would be be crucial in identifying and protecting their habitats from possible threats and development projects, scientists said.
  • The Hornbill Watch initiative (www.hornbills.in) is an interactive web interface that allows a person to report on hornbills anywhere in India. People can record the observation of a live hornbill, note its call or report a dead, hunted or captive bird.
  • There are nine hornbill species in India.

Krishna Raja Sagar

  • On the confluence of river Kaveri with its tributaries Hemavati and Lakshmana Tirtha, in Karnataka.

Article 161 of the Constitution

  • Article 161 of the Constitution provides the Governor with the power to “remit or commute the sentence of any prisoner”. 
  • The Governor’s decision will be subject to judicial review by the constitutional courts.

Lemon law

  • Also known as lemon socialism, this refers to any form of government intervention in the market economy in order to help in the survival of struggling firms. 
  • These businesses, which would normally not be able to survive in a free market without any government intervention in their favour, thus turn out to be the beneficiaries of government policy. 
  • Such government intervention in favour of inefficient firms in the marketplace can be brought about in various ways — through the use of subsidies, bailouts, or discriminatory regulations that favour select firms in the market. 
  • Lemon laws are considered to be harmful to economic growth as they breed inefficiency.

Spike

  • A third generation, fire-and-forget, manportable missile manufactured by Israel’s Rafael.

Mutual Funds

  • Mutual funds are investments where an investor entrusts his/her money with an investment manager (of an asset management company) to manage the money smartly and efficiently. 
  • This money management comes at a cost, which is usually charged as a percentage of the investment. The official regulator of mutual funds has laid down rules on how much an asset management company can charge an investor to manage their funds. 
  • For an investor this is important because it is a charge (called total expense ratio or TER in short) levied on their investment, and the money they get back from their investment is reduced by this figure. 
  • For example, if a fund charges 2% as the TER, and the fund produces a gross profit (return) of 15% in a given year, the investor would get 13% – which is the gross profit minus the TER – in their hands.

World Happiness Report 

  • The World Happiness Report (WHR) 2018, which ranked 156 countries, placed India at the 133rd place on the index of global happiness.