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Thursday, March 25, 2021

India-Taiwan ties

07:40

 Why in news?

Recently India and Taiwan are celebrating 25 years of their partnership.

What are the existing areas of cooperation?

  • Both the countries have deepened the mutual respect which is underpinned by openness, democracy.
  • They recognise diversity as the key principles for collective growth and share faith in freedom, human rights, justice and rule of law.
  • India and Taiwan already collaborate in the area of traditional medicine.
  • India’s has been in the forefront in fighting against COVID-19 and Taiwan’s handling of the pandemic and its support to other countries underlines the need to deepen cooperation in healthcare.
  • Now both countries can expand cooperation in the field of healthcare.

How can Taiwan support India?

  • Indian government is facing the huge challenge of maintaining air quality and stubble burning is an important reason for this.
  • Taiwan could be a valuable partner in dealing with this challenge through its bio-friendly technologies.
  • Such technologies can convert agricultural waste into value-added and environmentally beneficial renewable energy or biochemicals.
  • This will help in dealing with air pollution and also enhances farmers’ income.
  • Further, they can undertake joint research and development initiatives in the field of organic farming.

What are the other areas that both countries can cooperate?

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Insight IAS Prelims 2021 CSAT Test 3 Solution PDF

07:36

 Insight IAS Prelims 2021 CSAT Test 3 Solution PDF

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THE HINDU NEWSPAPER IMPORTANT ARTICLES 25.03.2021

06:53
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Wednesday, March 24, 2021

Daily Current Affairs, 24th March 2021

18:51

 


1)  World Tuberculosis Day: 24 March

•World Tuberculosis Day is observed every year on 24 March to create awareness among the public about the global epidemic of tuberculosis (TB) and efforts to eliminate the disease. The date marks the day in 1882 when Dr Robert Koch announced that he had discovered the bacterium that causes TB, which opened the way towards diagnosing and curing this disease.


•The theme of World TB Day 2021 – ‘The Clock is Ticking’ –conveys the sense that the world is running out of time to act on the commitments to end TB made by global leaders. This is especially critical in the context of the COVID-19 pandemic that has put End TB progress at risk, and to ensure equitable access to prevention and care in line with WHO’s drive towards achieving Universal Health Coverage.


2)  Russia Launches 38 Satellites From 18 Countries Into Space

•Russian space agency ‘Roscosmos’ successfully launched 38 foreign satellites into orbit, onboard Soyuz-2.1a carrier rocket from the Baikonur cosmodrome in Kazakhstan. The 38 satellites belonged to 18 countries including South Korea, Japan, Canada, Saudi Arabia, Germany, Italy and Brazil. One of these satellites named ‘Challenge-1’ was the first-ever satellite made completely in Tunisia, which was created by the Telnet telecommunications group.


•In 2018, a Soyuz rocket carrying a Russian cosmonaut and a NASA astronaut failed mid-flight, forcing the crew to carry out an emergency landing. Both survived without injuries.


3)  ISRO Demonstrates India’s First Free-Space Quantum Communication

•In a first-of-its-kind initiative, the Indian Space Research Organisation (ISRO) successfully demonstrated free-space Quantum Communication over a distance of 300 metres, with several technologies developed within the country. The demonstration included live video conferencing using quantum-key-encrypted signals, at Space Applications Centre (SAC), Ahmedabad, between two line-of-sight buildings within the campus.


•The experiment was done at night to ensure that there is no interference from the direct sunlight. This is a major milestone achievement for unconditionally secured satellite data-communication using quantum technologies.


4)  Ramesh Pokhriyal inaugurates Shaheed Bhagat Singh Smarak in New Delhi

•The Union Minister of Education, Shri Ramesh Pokhriyal ‘Nishank’, virtually inaugurated the Shaheed Bhagat Singh Smarak in New Delhi on March 23, 2021. The inauguration took place on the occasion of a programme organised by the University of Delhi on ‘Shaheed Diwas’ to pay homage and commemorate 90 years of martyrdom of our national icons of the Indian National Movement –Shaheed Bhagat Singh, Sukhdev Thapar and Shivaram Rajguru.


5)  Andhra Pradesh to launch India’s first Govt-Run Animal Ambulance Network

•The state government of Andhra Pradesh has decided to set up “India’s first government-run ambulance network” for animals. This decision was taken in order to further boost the animal husbandry and veterinary sector in the state. Ambulance network as one of its main missions in order to help in reaching out to the distressed animals to provide them with proper animal healthcare. The Animal Husbandry Department was directed to set up one Mobile Ambulance Veterinary Clinic at each of the assembly constituency.


6)  UP and MP sign agreement with Jal Shakti Ministry for ‘Ken-Betwa Link’ project

•On the occasion of World Water Day, the governments of Uttar Pradesh and Madhya Pradesh signed an agreement with the Union Ministry of Jal Shakti to implement the Ken-Betwa river interlinking project. The main purpose of this project is to carry water from surplus regions to drought-prone and water-scarce region through the interlinking of rivers.


7)  India, Japan agree for greater cooperation in patent verification

•India and Japan have agreed to recognize each other’s offices to act mutually as competent International Searching and International Preliminary Examining Authority (ISA/IPEA) for any international patent application filed with them. This memorandum of cooperation on the industrial property was arrived at during the 4th review meeting between DPIIT and Japan Patent Office.


•India had approved an MoC between the Indian Patent Office (IPO) and the JPO for entering into a PPH on a pilot basis for three years. This is a reciprocal arrangement, so the JPO will also be able to accelerate the prosecution of a Japanese application using positive examination results received from the IPO. The IPO will only offer acceleration for patent applications in certain technical fields such as physics, computer science, IT, electronics, metallurgy and automobiles.


8)  POWERGRID Launches Certified E-Tendering Portal “PRANIT”

•Power Grid Corporation of India (POWERGRID) has launched an “e-Tendering Portal” called ‘PRANIT’ to make the tendering process more transparent. The portal ”PRANIT” will involve less paperwork and allow ease of operation, which in turn will make the tendering process more transparent.


•The portal has been certified by Standardisation, Testing and Quality Certification Directorate (STQC), under the Ministry of Electronics and Information Technology, GoI. POWERGRID is the only organization in India to have an e-procurement solution on SAP Supplier Relationship Management (SRM), complying with all applicable requirements relating to security and transparency as stipulated by STQC.


9)  Pabbi-Anti-Terror 2021: India, Pakistan and China to hold anti-terror exercise

•The eight-member bloc said that the decision to hold the joint exercise ‘Pabbi-Anti-Terror 2021’ was announced during the 36th meeting of the Council of the Regional Anti-Terrorist Structure (RATS) held in Tashkent, Uzbekistan. Members of the Shanghai Cooperation Organisation, including India, Pakistan and China, will hold a joint anti-terrorism exercise this year.


•“Decisions have been made to improve cooperation between the competent authorities of the SCO member states in identifying and suppressing channels that finance terrorist activities. Delegations of the competent authorities of India, Kazakhstan, China, the Kyrgyz Republic, Pakistan, Russia, Tajikistan, Uzbekistan and the RATS Executive Committee attended the meeting.


10)  International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims

•International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims is observed annually on 24th March every year. This day is observed on 24th March every year to pay tribute to “Monsignor Óscar Arnulfo Romero” as he was murdered on 24 March 1980. He was actively engaged in criticizing violations of the human rights of the most vulnerable individuals in El Salvador.


•The International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims aims to honour the memory of victims of gross and systematic human rights violations. It also aims to promote the importance of the right to truth and justice.

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GS SCORE Current Affairs March 2021 Week 4 PDF

18:28

GS SCORE Current Affairs March 2021 Week 4 PDF

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The HINDU Notes – 24th March 2021

12:28

 


📰 Refund penal interest on EMIs, Supreme Court tells lenders

Lifts govt. bar on banks declaring accounts as NPAs

•The Supreme Court on Tuesday directed banks and financial institutions to refund compound interest, interest on interest or penal interest collected on EMI for loans during the period of moratorium from March 1 to August 31 last year.

•“It is directed that there shall not be any charge of interest on interest/compound interest/penal interest for the period during the moratorium,” a Bench of Justices Ashok Bhushan, R. Subhash Reddy and M.R. Shah ordered in a 148-page judgment.

•The court said the amount accumulated as compound/penal interest or interest on interest during the six-month moratorium on term loan EMIs should be given as “credit/adjusted in the next instalment of the loan account”.

•Justice Shah, who authored the judgment, reasoned that additional interest in the form of compound or penal is usually collected from loan defaulters. When the payment of instalments had already been deferred during the moratorium, what was the need to burden borrowers, already reeling under the financial loss of a pandemic and lockdown, the court asked.

•The judgment also spelt relief for banks and lenders with the court lifting its nearly six-month bar on them from declaring accounts of borrowers as non-performing assets (NPAs). In October last year, the apex court had stopped banks and lenders from declaring accounts of borrowers as NPAs.

•The judgment concluded that the government’s scheme to restrict the waiver of interest on interest to loans worth only up to ₹2 crore as irrational. This scheme, introduced in October, was limited to debts in MSME, education, housing, consumer durables, credit card, auto, personal and consumption categories within the ₹2 crore limit.

•“There is no justification shown to restrict the relief of not charging interest on interest with respect to the loans up to ₹2 crore only, and that too, restricted to the aforesaid (eight) categories. There is no rationale to restrict such relief,” Justice Shah noted.

•But the court refused to entertain complaints from petitioners that the government did not do enough to ease the burden of financial strain during the pandemic.

•“By and large, everybody has suffered due to lockdown due to COVID-19 pandemic. Even the Government suffered due to non-recovery of GST... Merely, since the reliefs announced by the Union of India/RBI may not suit the desires of the borrowers, the reliefs/policy decisions related to COVID-19 cannot be said to be arbitrary or violative of Article 14 of the Constitution,” the court said.

•The apex court further refused the insistent pleas of the borrowers for a total waiver of interest for EMIs falling within the moratorium period. It also declined to extend the moratorium till December 2020 or, as some of the petitioners sought, another six months from August 31, 2020.

•The court said a total waiver of interest on loan EMIs would hit the banks and depositors hard.

•“To grant such a relief of total waiver of interest during the moratorium period would have a far-reaching financial implication in the economy of the country. Banks and lenders have to pay the interest to the depositors. Their liability to pay the interest on the deposits continued even during the moratorium period… Continuing to pay interest to depositors is not only one of the most essential banking activities but it shall be a huge responsibility owed by the banks to crores and crores of small depositors, pensioners, etc, who survive on the interest from their deposits,” Justice Shah reasoned.

•Besides, the court said numerous welfare funds schemes survive on the interest generated from bank deposits.

•The petitioners, which included members of the real estate and power sectors, had wanted “sector-specific reliefs”.

•To this demand, the court replied that “what is best in the national economy and in what manner and to what extent the financial reliefs/packages be formulated, offered and implemented is ultimately to be decided by the government and RBI on the aid and advise of the experts. The same is a matter for decision exclusively within the province of the central government. Such matters do not ordinarily attract the power of judicial review”.

•The court further declined pleas to extend the deadline, from December 31, 2020, for the invocation of Reserve Bank of India’s resolution mechanism for “big borrowers” like business and manufacture sectors. The mechanism titled ‘Resolution Framework for COVID-19-related Stress’, issued in an August 6 circular, had informed that lending institutions, guided by their respective Board-approved policy, would prepare viable resolution plans for eligible borrowers under stress on account of COVID-19.

📰 Prevent brazen use of public funds for campaigning, HC

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Vision IAS Weekly Focus Inter-State Water Governance From Conflict to Cooperation PDF

10:47

Vision IAS Weekly Focus Inter-State Water Governance From Conflict to Cooperation PDF

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APTI PLUS Current Affairs Monthly Magazine March 2021 PDF

07:09

APTI PLUS Current Affairs Monthly Magazine March 2021

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THE HINDU NEWSPAPER IMPORTANT ARTICLES 24.03.2021

07:02
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