9 PM Daily Current Affairs Brief – February 28th, 2022

Dear Friends, We have initiated some changes in the 9 PM Brief and other postings related to current affairs. What we sought to do:

  1. Ensure that all relevant facts, data, and arguments from today’s newspaper are readily available to you.
  2. We have widened the sources to provide you with content that is more than enough and adds value not just for GS but also for essay writing. Hence, the 9 PM brief now covers the following newspapers:
    1. The Hindu  
    2. Indian Express  
    3. Livemint  
    4. Business Standard  
    5. Times of India 
    6. Down To Earth
    7. PIB
  3. We have also introduced the relevance part to every article. This ensures that you know why a particular article is important.
  4. Since these changes are new, so initially the number of articles might increase, but they’ll go down over time.
  5. It is our endeavor to provide you with the best content and your feedback is essential for the same. We will be anticipating your feedback and ensure the blog serves as an optimal medium of learning for all the aspirants.
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    • For individual articles of 9 PM BriefClick Here

Mains Oriented Articles

GS Paper 2

GS Paper 3

Prelims Oriented Articles (Factly)

Mains Oriented Articles

GS Paper 2

With Russia-Ukraine conflict, comes inflation challenge

Source: This post is based on the article “With Russia-Ukraine conflict, comes inflation challenge” published in the Indian Express on 28th February 2022.

Syllabus: GS 2 International Relations.

Relevance: Understanding how to bring down inflation, especially food inflation in India.

News: With the Russia-Ukraine conflict going into a war, global commodity prices, especially that of crude oil and gas, are likely to see a strong surge. This poses a challenge for India and the world to contain inflationary pressures.

How does the Russia Ukraine conflict affect the economy?

At 6%, India’s consumer price index (CPI) inflation crossed the upper limit of RBI’s tolerance band in January 2022. The wholesale price index (WPI) is rushing at more than double that rate (12.96%). In the US, inflation is at 7.5 %, which is almost a 40-year-high. Economists also believe that the Federal Reserve will not able to curb inflation soon.

Read here: The Centre should help RBI tame retail inflation

High inflation imposes a large “inflation tax” on the public, with bank savings that earn an interest of less than 1%. India is also affected by this tendency. Most of the major banks, including the State Bank of India, offer interest rates between 3-4% to depositors. With CPI inflation at 6% and WPI inflation at 13%, Indian depositors are losing the real value of their money because of this hidden “inflation tax”.

Even, the upper limit of RBI’s tolerance band is biased against depositors and is in favour of entrepreneurs. The inflation rate must be below 3 percent, which must ensure positive real rates of interest.

Read here: A flawed calculation of inflation

How can India ensure lower rates of inflation?

There is a need to control food inflation as food has a weight of more than 45% in CPI in India. India imports roughly 60% of its consumption of edible oils. Global prices of edible oils have gone up by more than 50% over the last year. To control inflation, the Centre has imposed stock limits on traders and lowered import duties, and imported more pulses. It also imposed stocking limits on domestic oil/oilseed traders.

Read here: Explained: India’s ‘imported’ food inflation

The Center can further control food inflation by unloading the excess grain in the open market. FCI could help in bringing down food inflation substantially as rice and wheat have a high weightage in CPI.

Adopting the growth-oriented policy: It has been seen that political party promises freebies before elections. They promise loan waivers and free power to farmers, unemployment allowances to the youth, and income support to women, laptops, smartphones, etc. This amounts to misusing taxpayers’ money to get into power. There is a need to stop this competitive populism to make the Indian policy-making growth-oriented.

Reform in grain-management-cum-food-subsidy system: There is a need to bring reforms in this system. This should be combined with raising productivity and producing more nutritious food while protecting the environment.

Read here: Growing Food Subsidy Bill: Reasons and Suggestions

The anatomy of India’s Ukraine dilemma

Source: This post is based on the article “The anatomy of India’s Ukraine dilemma” published in  The Hindu on 28th February 2022.

Syllabus: GS2 Effect of policies and politics of developed and developing countries on India’s interests.

Relevance: Understanding India’s move in the UNSC.

News: India abstained from a United Nations Security Council (UNSC) resolution which is for condemning the Russian military action against Ukraine.

What are the available options in front of India?

India has four options in front of it: 1) Condemn Russian aggression 2) Support Russian aggression  3) Stay silent on Russian aggression 4) Express displeasure and call for diplomacy.

Among these options, the first one will pit India against Russia, the second will pit it against the U.S. and its allies. The third option will mark it as pro-Russia, and the fourth option, which it has taken, is the least harmful.

Read here: India’s Ukraine dilemma

India has taken a pro-Russian stand in the Russia-Ukraine conflict, despite passionate appeals by the Ukrainian ambassador to India. This tilt is also shared by the Indian strategic community. This is seen as a product of time tested friendship and also a geopolitical necessity

What are the reasons behind India’s pro-Russia position?

First, India’s tilt towards Russia is based on a calculation that India needs both USA and Russia to counter China. With the weakening of the USA-led global order and the assertive rise of China, it is important for India to have Russia by its side.

Second, there is emerging dualism in India’s security calculus. India needs Russia to manage continental space, which is under threat from China, Pakistan, and Taliban. Maritime space provides an opportunity to break this. And it is here in Indo-Pacific that the USA and its Allies present an opportunity to balance the Chinese threat through QUAD.

Read here: India’s stand on Ukraine is shaped by its national interest

How does the war in Ukraine have major implications for India’s strategic interest?

First, Russian action in Ukraine neglecting the concerns of the rest of the international community including the U.S. will also encourage China and its territorial ambitions.

Second, the new sanctions regime may have implications for India’s defence cooperation with Russia

Third, the longer the standoff lasts, China and Russia will come closer, which is not good for India.

Finally, the more severe the U.S.-Russia rivalry becomes, the less focus there would be on the Indo-Pacific and China, where India’s interests lie.

Read here: The Russia effect: Putin’s invasion of Ukraine has bleak implications diplomatically & economically. India won’t escape them

What does the Indian move in UNSC signify?

India’s response to the Ukraine crisis exposes the vulnerability of India, given its hostile neighborhood.

This may diminish India’s projection as major power or swing state.

It also shows that when it comes to geopolitics, India will choose its interests over principles.

The move shows India’s adherence to strategic autonomy and safeguarding its own interests.

Read here: Strategic choice: India is right not to pick a side on Ukraine

Democracy ought to get the better of autocracy

Source: This post is based on the article “Democracy ought to get the better of autocracy” published in the Livemint on 28th February 2022.

Syllabus: GS 2 Different types of political philosophies.

Relevance: Understanding why autocracy is not the best choice.

News: Although the USA has imposed a lot of sanctions, it seems it does not affect the motives of Russia.

Do countries fear sanctions?

Sanctions have been unable to enforce a regime change as has been exemplified in the case of Iran. So while the USA has implemented half-hearted sanctions, it is unlikely to force Russia to change its plan. Russia’s access to SWIFT and hydrocarbons was left intact in fear of global disruption.

Read here: Denial of access to Swift is a blunt tool for geopolitics

Do autocracies work?

In a protracted battle, the Russian state is likely to sustain leadership because though there are elections, the opposition has been crushed by the Russian ruling regime. This is further exemplified by the rule in Iran and China. The example of China shows that autocracies may even be able to bend global rules. Chinese economic model uses economic feedback for a self-correction like democracies use elections.

However, the most pressing issue with an autocracy is its structurally low sensitivity to actual needs. It is governed by a command economy, not aware of the market and consumer needs. It also covers criticism and runs propaganda in the guise of information. This is why autocracies like the Soviet Union crumbled. Thus,  democracy can be seen as the best bet.

Read here: Threat to Democracies

A pragmatic tightrope walk

Source: This post is based on the following articles

Abstain, But Get Stronger” published in the Times of India on 28th February 2022.

“A pragmatic tightrope walk” published in Business Standard on 27th February 2022.

Syllabus: GS2 Effect of policies and politics of developed and developing countries on India’s interests.

Relevance: Understanding India’s position in the ongoing Russia- Ukraine conflict.

News: India decided to abstain, along with China and the United Arab Emirates, from a UNSC resolution which is for condemning Russia’s invasion of Ukraine.

What does the Indian move in UNSC signify?

The move has enabled India to maintain its long-standing diplomatic stance on respecting territorial sovereignty without compromising its relations with Russia. India chose a path which is originally defined by Prime Minister Jawaharlal Nehru and further refined in changing geopolitical contexts by his many successors.

Henry Kissinger expressed his disappointment when Nehru decided to remain neutral during the Berlin crisis of 1961. Later, Prime Minister PV Narasimha Rao followed India’s middle path after USSR collapsed. He clarified that the middle way does not need two powers. It means there is no place for absolute assertion. The Indian government’s latest vote at the UNSC on Ukraine also reflects this perspective.

In what ways Russia is important to India?

Read here: India-Russia Trade Relationship Post Russia-Ukraine Crisis – Explained, pointwise

How does the West react to the Russian attack on Ukraine?

Sanctions have been imposed on Russia’s largest bank and Russian elites and their families.

Restrictions have been imposed on purchasing US military items, including those produced by foreign nations using US software.

Germany has stopped the certification of the Nord 2 pipeline between Russia and Germany.

Read here: Why has the US changed its mind on the Nord Stream 2 pipeline?

What are the things which shape the Indian foreign and strategic policy?

Geography: There are no security concerns for India, keeping in view India’s geography vis-à-vis Eurasian landmass. It is up to Germany, France, and the European Union to define and defend their national security.

Strategic: There is a view that challenge from China requires India to keep good relations with NATO powers and sacrifice the relationship with Russia. This view is not correct, as  Western support for India is a strategic option that benefits both the West and India. The US-India relationship, like the Russia-India relationship, is and will always be based on mutual benefit and national interest.

Read here: The perfect storm: On Russia’s Ukraine gambit

What are the suggestions for India?

India’s national integrity, unity, and sovereignty can only be protected, defended, and preserved by Indians. This is where ‘Atmanirbharata’ comes into action. India requires indigenous scientific, technological, cyber, space, and defense manufacturing capability and capacity. No major nation can defend its sovereignty by depending on another.

Rather than surrendering to external pressure and choosing one side or another in the new East-West conflict, India should focus on renewing its capabilities and building international relationships that strengthen our domestic capacity.


No quick fix: On the state of medical education in India

Source: This post is based on the article “No quick fix: On the state of medical education in India” published in The Hindu on 28th Feb 2022.

Syllabus: GS 2 – Issues relating to development and management of Social Sector/Services relating to Health, Education.

Relevance: Medical education in India needs an urgent revamp.

News: Many Indian students are pursuing medicine in Ukraine. The war in Ukraine highlighted the need to strengthen medical education in India.

About PM’s remark on Indian medical education

The Prime Minister, on Union Budget announcements on the health sector, stated that many young Indians were going to “small countries of the world for medical education.” He also urged the government a) To encourage the private sector, b) To set up more medical colleges and hospitals locally, along with cooperation from States, so that such aspirants remain in India.

Read more: Brain drain in the health sector – Explained, Pointwise
About medical education and Indian students abroad

The most sought-after international destinations – for medical education are the U.S., the U.K. and a few West European countries. But these countries are too expensive for most Indians.

In the last few decades, Russia, China and Ukraine with their historical commitment to public health care have been able to offer more affordable, yet quality, medical education.

Read more: Brain drain from India – Explained, pointwise
What is the challenge faced in medical education in India?

1) India’s huge population still continues to be predominantly rural, so make most of the trained medical doctors, paramedics and nurses gravitate towards cities, 2) Nature of medical education: Medical education requires significant infrastructure — land, equipment, and trained faculty at the postgraduate level — all of which are in short supply and unevenly spread across India, 3) Low spending on health: For several years, India’s spending on health care has consistently lagged behind several countries comparable to its size. For this reason, there is barely one doctor for every 1,000 Indians and specialists often a tenth of what is required.

For these reasons, there is an increase in young Indians seeking affordable, quality, health-care education in other countries. Without correcting these deficiencies, India cannot expect to dramatically increase the availability of medical personnel.

What should be done to revive medical education?

Encouraging private establishments to start medical schools might repeat the engineering fiasco. I.e., a plethora of colleges without adequately trained faculty or infrastructure that churn out students who need further skills upgrade to be employable.

The Government must 1) Make health care the centrepiece of its economic rebuilding, 2) Provide long-term commitment offering necessary training and post-graduate education, 3) Ease procedures for establishing medical colleges, 4) Spend more on infrastructure, and 5) Provide incentives for a health-care ecosystem to develop in rural areas.

Over time, this will facilitate the growth of private and public medical colleges that could stem the outflow of students aspiring to be doctors.

Read more: National Entrance cum Eligibility Test(NEET) – Issues and Significance- Explained, pointwise

Western Sanctions: Impact & Ways Around Them

Source: This post is developed based on the article “Western Sanctions: Impact & Ways Around Them” published in “Times of India” on 28th Feb. 2022.

Syllabus Topic – GS –2 International Relations,

News: Western countries have put several type of sanctions on Russia against invasion of Ukraine.

In one of the more severe sanctions, Russia’s assets worth $300 billion have been frozen. These assets are held abroad in the Federal Reserve (US central bank) and the European Central Bank (ECB).

Other sanctions might be excluding Russian banks from the SWIFT network.

About SWIFT

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global messaging system that enables safe transfer of funds and allows banks to communicate with each other in a secure manner.

It has 11,000 international banks as members and is based in Belgium.

How exclusion from SWIFT will affect Russia?

It will disconnect Russian banks from the international financial system. It will hinder their ability to operate globally, which means Russia will not be able to pay for its imports or get paid for its exports through the normal payment routes.

It is very important considering the fact that overall exports of Russia amount to nearly 30% of its GDP.

Last time, Iran was excluded from SWIFT and it lost almost half of its oil export revenues and 30% of foreign trade.

How all these developments will impact India?

Even though neither Russia nor Ukraine are major trading partners, there will be macroeconomic repercussions:

– First, due to hinderance in Russia’s ability to oil exports, global crude oil prices will rise further. It will have consequences for India, considering the high dependency on imports for oil and high retail inflation, which is already at 6%.

– Second, it will negatively affect the $11. 9 billion India-Russia bilateral trade.

– Lastly, Russia is India’s biggest arms supplier, accounting for more than half of India’s total arms imports. De-swifting will potentially impact defense deals between India and Russia.

What are the suggestions?

The following are a few ways that can be used to bypass the sanctions:

– Firstly, countries could use their respective currencies for trading. A part of India-Russia trade already takes place in Indian rupee and not in US dollars.

– Second, Russia has been developing its own alternatives to SWIFT, called SPFS (System for Transfer of Financial Messages). Indian banks could register on this network for carrying out financial transactions.

– Third, new digital currencies can be brought into use.

However, India must be cautious in bypassing the sanctions, as it could attract punitive measures from the US and Europe.

GS Paper 3


Tackling the plastic problem

Source: This post is developed based on the article “Tackling the plastic problem” published in “The Hindu” on 28th Feb. 2022.

Source: GS – 3 – Environment – Pollution – Plastic Pollution

News: A United Nations Environment Programme (UNEP) report stated last year that emissions of plastic waste into the aquatic ecosystems may triple by 2040 in the absence of actions.

What are the causes behind increasing plastic waste?

Increasing global consumption and low participation in recycling programmes.

Consumption externality: It is more challenging to address challenging to address compared to production externality. Because imposing cost of the harm by plastics on all consumers may not yield efficient solutions due to their large number.

Banning plastic bags can result in a sustainable environment, intergenerational equity, saving marine and wildlife ecosystems, and restoring soil quality. However, it also causes inconvenience for consumers, increases substitution costs, and creates unemployment shocks as it affects the production of plastics.

Taxation: It is difficult to bring global consensus on a uniform tax to be imposed. Because, it may depend on country-specific circumstances.

What policy measures can be adopted against plastics?

Removal of existing taxes and subsidies that have a negative environmental impact.

Taking into account the different types or grades of plastics for taxation.

Restructuring existing taxes in an environmentally friendly manner. It can be done in the following ways:

  • various stages of production, consumption or disposal of plastics should be taxed. Because pollution starts happening from the production stage.
  • Meters can be installed for recording the emission or the effluent discharged for taxation purposes.
  • Eco-tax should be equal to Marginal social cost arising from the negative externality at various stages.

Promoting multiple use of plastics through better waste management

Educating the public on the harmful use of plastics

Providing subsidies for research and development activity for substitute development,

Appropriate disposal mechanisms and waste management and use of waste for constructive usage like roads


Liberalise, do not bureaucratise

Source: This post is developed based on the article “Liberalise, do not bureaucratise” published in “Business Standard” on 28th Feb. 2022.

Syllabus – GS – 3 Agriculture inputs – fertilisers

News: The draft Integrated Plant Nutrition Management Bill, 2022 has been put for the public comments.

About the Draft Integrated Plant Nutrition Management Bill, 2022

The bill has been criticised from various angles by various stakeholders in the fertilizer sector.

What are the criticisms against the bill?

Use of fertilisers: The bill aims to balance the use of different types of fertilizers in the light of over-use of urea. This imbalance can be corrected by rationalizing subsidies and not by enacting a new law.

Governance structure: At present, fertiliser sector is governed by two mechanism: 1) Fertiliser Movement Order (FMO), promulgated and enforced by the fertiliser ministry. It controls the production of fertilisers. 2) Fertiliser Control Order (FCO), issued and administered by the agriculture ministry. It controls the allocation of fertilisers to different states.

The inclusion of these provisions in the planned single statute may confuse the different stakeholders.

Inspector Raj: Bill may bring back the Inspector Raj of prior to economic liberalisation in 1991. It provides for fertiliser inspector with sweeping powers like entering, searching and confiscation of stocks in any premise in fertiliser sector for violation of bill’s provisions.

Complicated pricing system: Bill empowers central government to fix the maximum price at which fertilisers would be sold to the farmers. However, prices would differ for different consumers or classes of consumers in accordance with the local situation and period of storage of fertilisers. It will complicate the process of fertiliser pricing.

Over-regulation: It will also bring desi soil fertility-enhancers and crop yield-boosters, such as “Pachgavya Krishi” and “Amritpani” under price control and controls of other kinds. It means these products will be subject to bureaucratic controls and inspectorial scrutiny.

Prelims Oriented Articles (Factly)

Explained: What is SWIFT, what shutting Russia out of it means

Source: This post is based on the following articles:

– “Explained: What is SWIFT, what shutting Russia out of it means” published in Indian Express on 28th February 2022.

– “Will the SWIFT expulsion really hurt Russiapublished in Livemint on 28th February 2022.

What is the News?

The US and European Union (EU) have decided to exclude some Russian banks from the SWIFT payment system. 

What is SWIFT?

SWIFT system stands for the Society for Worldwide Interbank Financial Telecommunication.

It is a secure platform for financial institutions to exchange information about global monetary transactions such as money transfers.

Click Here to read more about SWIFT

What is the importance of SWIFT?

The crucial role of SWIFT can be known by the fact that when some Iranian banks were cut off from SWIFT in 2012, its oil exports fell sharply from more than 3 million barrels a day in 2011 to about 1 million barrels a day a few years later. 

How could a SWIFT ban affect Russia?

Banning Russian banks from availing of SWIFT services restricts the country’s access to financial markets across the world. It would make it harder for Russian companies and individuals to pay for imports and receive cash for exports.

However, Russian banks could use alternative messaging systems such as phones, messaging apps or email to make payments via banks in countries that have not imposed sanctions. But these are likely to be less efficient and secure, as transaction volumes could fall and costs rise.

How would the SWIFT ban on Russia impact India?

India might face interruption and delay in arms import with Russia. However, there is some relief for India and Russia as their bilateral payments are made in Indian Rupee and sometimes in other currencies like Euro for both imports and exports. So, sanctions may not have a huge impact on the payments.


Explained: Why eastern Europe is popular with Indian medical students

Source: This post is based on the article “Explained: Why eastern Europe is popular with Indian medical students” published in Indian Express on 28th February 2022.

What is the News?

Ukraine and other eastern European countries like Romania and Bulgaria are popular destinations for Indian students pursuing medicine.

Why Eastern European countries are popular for Indian medical students?

Easy Entrance Criteria: There are no entrance exams to pass in order to gain admission to medical schools.(Since 2018, India has made it mandatory for students going abroad for their MBBS to also give the NEET-UG exams).

Medium of Instruction: English is the medium of instruction. Hence, it is simple for aspirants, and they do not have to worry about learning a foreign language.

Less Cost: The cost of graduating in medicine in Ukraine is around Rs 15-20 lakh for the entire duration of six years. In India, fees of private medical colleges can range between Rs 50 lakh to Rs 1.5 crore for a 4.5-year course.

Less Competition: In Ukraine, there is at least one medical college for every 1.7 lakh people. On the other hand, in India, there is one medical college for every 25.7 lakh people.

Credit Transfer: In Ukraine, universities follow the European Credit Transfer System, which makes it easy for students to change institutions in Europe during their course.

Can students study MBBS in foreign universities, practice medicine in India?

When students return to India with foreign MBBS degrees, they must take the National Board of Examinations’ Foreign Medical Graduate Exam (FMGE) to receive a license to practise medicine in India. An analysis of FMGE results showed that only 16.48% of those who applied for the test in 2020 passed it. Only 16.6% of students from Ukraine were able to pass the test.


KVIC proposes lifting of “Export Prohibition” on Bamboo Charcoal for Higher Profitability of Bamboo Industry

Source: This post is based on the article KVIC proposes lifting of “Export Prohibition” on Bamboo Charcoal for Higher Profitability of Bamboo Industrypublished in PIB on 28th February 2022.

What is the News?

Khadi and Village Industries Commission(KVIC) has urged the Government to lift the “export prohibition” on bamboo charcoal for optimum utilization of raw bamboo and higher profitability in the bamboo industry.

About Bamboo waste in India

In India, bamboo is mostly used in the manufacturing of Agarbatti. Around 16% (upper layers of the bamboo) is used for manufacturing bamboo sticks. However, the remaining 84% of bamboo is discarded as waste.

The Bamboo waste generated in Agarbatti and bamboo craft industries is not being utilized commercially. Hence, the bamboo input cost for round bamboo sticks is very high compared to countries like China.

Read more: KVIC’s Project BOLD to Boost Tribals’ Income and Bamboo-based Economy in Rajasthan
How can Bamboo waste be effectively utilized?

Bamboo waste can be best utilized by making “Bamboo Charcoal” which has very limited use within the domestic market, but it is hugely in demand in the international market. 

Bamboo Charcoal is used for barbeque, soil nutrition and as a raw material for manufacturing activated charcoal. However, the Government of India has prohibited the export of Bamboo Charcoal.

What has KVIC urged the Government?

KVIC has urged the Government to lift the “export prohibition” on bamboo charcoal. This is because one of the biggest challenges that the Indian bamboo industry faces is the extremely high input cost owing to the inadequate utilization of bamboo. 

Hence, the export of bamboo charcoal would ensure complete utilization of the bamboo waste and thus make the bamboo business more profitable.


India seeks Namibia’s partnership for re-introduction of Cheetahs into Madhya Pradesh

Source: This post is based on the article “India seeks Namibia’s partnership for re-introduction of Cheetahs into Madhya Pradesh” published in TOI on 28th February 2022.

What is the News?

A delegation from India left for Namibia to discuss cheetah translocation logistics with the Namibia Government.

About Cheetah

The cheetah is the world’s fastest land animal. The cheetah was declared extinct in India in 1952. Cheetah is, in fact, the only large carnivore to have become extinct in Independent India.

IUCN Status: Vulnerable

Read more about Cheetah (Acinonyx jubatus)

About Cheetah Reintroduction project in India

Recently, the Government of India has released the Action Plan for Introduction of Cheetah in India.

As part of the plan, India will be translocating around 12-14 cheetahs from South Africa, Namibia and Botswana to Kuno Palpur National Park in Madhya Pradesh.

Each of these cheetahs would also be fitted with Satellite/GSM-GPS-VHF radio-collars before their release in the wild so as to enable monitoring remotely.

This could be the world’s first intercontinental cheetah translocation project.

Read more: African cheetahs in Kuno-Palpur: Have we assessed disease risks well

Role of Market Infrastructure Institutions(MIIs)

Source: This post is based on the article “Role of Market Infrastructure Institutions(MIIs)published in The Hindu on 27th February 2022.

What is the News?

National Stock Exchange(NSE), the country’s largest equities and derivatives exchange was fined by SEBI for laxity in governance pertaining to actions taken during the tenure of its former MD.

While penalising NSE, SEBI also noted that the NSE was a systemically important market infrastructure institution (MII).

What are Market Infrastructure Institutions (MIIs)?

Stock exchanges, depositories and clearing houses are all Market Infrastructure Institutions(MIIs) and constitute a key part of the nation’s vital economic infrastructure. 

According to the Bimal Jalan Committee (2010), MIIs are systemically important for India as these institutions have seen phenomenal growth in terms of the market capitalization of listed companies, capital raised and the number of investor accounts with brokers and depositories and the value of assets held in the depositories account.

Which institutions in India qualify as MIIs?

Stock Exchanges: SEBI lists seven including  BSE, NSE, Multi Commodity Exchange of India and the Metropolitan Stock Exchange of India as MIIs.

Depositories: They are charged with the safekeeping of securities and enabling their trading and transfer. Central Depository Services Ltd. and the National Securities Depository Ltd has been listed as MIIs. 

Clearing houses: They help validate and finalise securities trades and ensure that both buyers and sellers honour their obligations. SEBI lists seven clearing houses including the Multi Commodity Exchange Clearing Corporation as MIIs.

Why are governance norms critical in the regulation of MIIs?

Any failure of MIIs could result in an overall economic downfall that could potentially extend beyond the boundaries of the securities market. Hence, the governance and oversight of MIIs are absolutely critical, and they need to be of the highest standards. 

For instance, SEBI has set out norms stipulating timelines within which a stock exchange has to take action if its technology fails, including rules for a switchover to back up servers as part of the disaster recovery in an institution that enables transactions running into thousands of crores of rupees daily. 


Cabinet approves implementation of Ayushman Bharat Digital Mission

Source: This post is based on the article Cabinet approves implementation of Ayushman Bharat Digital Missionpublished in PIB on 28th February 2022.

What is the News?

The Union Cabinet has approved the Ayushman Bharat Digital Mission (ABDM).

What is Ayushman Bharat Digital Mission(ABDM)?

Nodal Ministry: Ministry of Health and Family Welfare

Type: Central Sector Scheme

Aim: To create a seamless online platform through the provision of a wide range of data, information and infrastructure services. It will also ensure the security, confidentiality and privacy of health-related personal information.

Implementing Agency: National Health Authority (NHA)

Key Feature of the Mission: Under the mission, citizens will be able to create their ABHA (Ayushman Bharat Health Account) numbers, to which their digital health records can be linked.This will enable creation of longitudinal health records for individuals across various healthcare providers, and improve clinical decision making by healthcare providers.

What are the benefits of the Mission?

Firstly, it will improve equitable access to quality healthcare by encouraging the use of technologies such as telemedicine and enabling national portability of health services.

Secondly, it will facilitate evidence-based decision making for effective public health interventions.

Lastly, it will also help catalyze innovation and generate employment across the healthcare ecosystem.


India launches Operation Ganga to evacuate stranded Indian nationals in Ukraine

Source: This post is based on the articleIndia launches Operation Ganga to evacuate stranded Indian nationals in Ukraine” published in The Hindu on 28th February 2022.

What is the News?

The Government of India has launched Operation Ganga.

What is Operation Ganga?

Operation Ganga was launched to help stranded Indian nationals come back to India from Ukraine through special flights amidst the Russian invasion of Ukraine.

Since Ukraine is currently a no-fly zone, citizens and students are being evacuated to nearby countries after which they are being flown to India.

What are the other similar earlier evacuation operations of India?

Click Here to read about it


Compensation to Victims of Hit and Run Motor Accidents Scheme, 2022: Hit-and-run deaths: Govt notifies 8-fold hike in relief to Rs 2 lakh

Source: This post is based on the article “Hit-and-run deaths: Govt notifies 8-fold hike in relief to Rs 2 lakh” published in Indian Express on 28th February 2022.

What is the News?

The Government has released “The Compensation to Victims of Hit and Run Motor Accidents Scheme, 2022”.

Note: According to the government data, 3.66 lakh road accidents occurred in the country in 2020 resulting in 1.31 lakh deaths.

What is Compensation to Victims of Hit and Run Motor Accidents Scheme, 2022?

Released by: Ministry of Road Transport and Highways

This scheme will supersede the Solatium (Compensation) Scheme,1989.

This scheme ​​shall come into force with effect from April 1,2022.

Key Features of the Scheme

Firstly, the compensation to the families of hit-and-run victims will be increased by eight-fold to Rs 2 lakh in cases of death.

Secondly, the relief to a person sustaining grievous injuries in a hit-and-run case will now be increased to Rs 50,000 from the current Rs 12,500.

Thirdly, under the scheme, the procedure has been prepared for detailed investigations of road accidents and their reporting along with timelines for different stakeholders for quick settlements of claims.

Fourthly, a Motor Vehicles Accident Fund has been set up. The fund will be used for providing compensation in case of hit-and-run cases and treatment for accident victims.


Council of Europe suspends Russia

Source: This post is based on the article Council of Europe suspends Russiapublished in The Telegraph on 28th February 2022.

What is the News?

The Council of Europe has suspended Russia from its rights of representation in the Council. However, Russia was not permanently removed from the council, thus obligated to follow its human rights provisions.

What is the Council of Europe?

The Council of Europe was founded in 1949 by the Treaty of London.

It is an international organization founded in the wake of World War II to uphold human rights, democracy and the rule of law in Europe.

The council is distinct from the European Union(EU).

Members: It includes 47 member states (27 of which are EU members).

The Council cannot make binding laws, but it does have the power to enforce select international agreements reached by European states on various topics.

The Council is also an official United Nations Observer.

Headquarters: Strasbourg, France.


A day to embody the true spirit of science

News: Vigyan Sarvatra Pujyate (means science & technology is revered all over) was organised by government as a science week between 22nd to 28th feb. It was organised as a prelude to National Science Day on February 28 that commemorates Sir C.V. Raman’s discovery on light scattering.

As per the author, this program should have been designed for promoting critical thinking in our academic centres and removing all types of intellectual curtailments.

What should be the universal attitude towards science?

A prominent physicist, Freeman Dyson in his book, The Scientist as Rebel, explains the elements of soul of science. Following are a few takeaways from it.

First, Science is universal, like music, dance or poetry. It cannot be contained by restrictions imposed by the locally prevailing cultures, western or eastern, Arabs and Indians and Japanese and Chinese. Science has been nurtured by exchanges of ideas through ancient trade routes.

Second, evidence-based modern science is an intellectual rebellion against social constraints. It is evident from European renaissance of science of the Middle Ages, or the reawakening in India around the 19th century.

This rebellious spirit led to a resurgence of science in India in the pre-Independence days. Sir C.V. Raman’s discovery cannot be seen independent of the social reformism of those days.

Third, science is an inherently subversive act. It threatens establishment of all kinds, like, upending a long-standing scientific idea, or questioning the received political wisdom or irrationality.

What are the cultural challenges in India that can be reformed?

The Indian family system is authoritarian and patriarchal. Children from the beginning are sensitized to a collective self, leading to a loss of self

Mains Answer Writing

Supreme Court Gives Verdict — EVMs are safe

Source-This post on Supreme Court Gives Verdict — EVMs are safe has been created based on the article “Express View: Message from Supreme Court — EVMs are safe” published in “The Indian Express” on 27 April 2024. UPSC Syllabus-GS Paper-2– Salient Features of the Representation of People’s Act. News-The Supreme court in Association of Democratic… Continue reading Supreme Court Gives Verdict — EVMs are safe

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ISRO’s findings on the growth of glacial lakes in the Indian Himalayas

Source: The post ISRO’s findings on the growth of glacial lakes in the Indian Himalayas has been created, based on the article “How ISRO used satellite remote-sensing to analyse glacial lakes in Himalayas” published in “Indian express” on 27th April 2024. UPSC Syllabus Topic: GS Paper 1-geography-changes in critical geographical features (including water-bodies and ice-caps)… Continue reading ISRO’s findings on the growth of glacial lakes in the Indian Himalayas

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Protests at U.S. universities against the war in Gaza a sign of the crisis

Source: The post protests at U.S. universities against the war in Gaza a sign of the crisis has been created, based on the article “Pratap Bhanu Mehta writes: Behind student anger in US, three crises — democracy, university, protest” published in “Indian express” on 27th April 2024. UPSC Syllabus Topic: GS Paper 2-international relations- Effect… Continue reading Protests at U.S. universities against the war in Gaza a sign of the crisis

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Curative Jurisdiction: Sounding the gavel on curative jurisdiction

Source: The post Curative Jurisdiction has been created, based on the article “Sounding the gavel on curative jurisdiction” published in “The Hindu” on 27th April 2024. UPSC Syllabus Topic: GS Paper 2 – Polity – Supreme Court News: The article discusses the Supreme Court of India’s use of “Curative Jurisdiction” to overturn a previous decision… Continue reading Curative Jurisdiction: Sounding the gavel on curative jurisdiction

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Supreme Court VVPAT judgement- Explained Pointwise

Recently, the Supreme Court VVPAT judgement reposed the faith in the integrity of the current electoral process involving the use of VVPAT and EVM. The Supreme Court has rejected a plea for 100% verification of Voter Verifiable Paper Audit Trail (VVPAT) slips with the Electronic Voting Machine (EVM) count. Table of Content What is the… Continue reading Supreme Court VVPAT judgement- Explained Pointwise

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Antihistamines

Source-This post on Antihistamines is based on the article “What are antihistamines?” published in “The Hindu” on 26th March 2024. Why in the News? There has been an increase in the intake of antihistamines to treat health concerns. About Antihistamines 1. About Antihistamines: They are common drugs that can be purchased without a prescription. They are… Continue reading Antihistamines

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Nephrotic Syndrome

Source- This post on Nephrotic Syndrome is based on the article “In search of skin lightening creams, kidneys take a hit” published in “The Hindu” on 26th March 2024. Why in the News? Researchers from Kerala have reported a series of cases from Malappuram district where the regular use of fairness creams has been linked to… Continue reading Nephrotic Syndrome

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Phi-3-mini

Source- This post on Phi-3-mini is based on the article ” Microsoft unveils Phi-3-mini, its smallest AI model yet: How it compares to bigger models” published in “Indian Express” on 27th March 2024. Why in the News? Recently, Microsoft unveiled the latest version of its ‘lightweight’ AI model that is the Phi-3-Mini. About Phi-3-mini 1.… Continue reading Phi-3-mini

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Decreasing trend in solar radiation for electricity in India

Source- This post on the Decreasing trend in solar radiation for electricity in India is based on the article “Study says solar radiation available for producing power falling in India” published in “The Hindu” on 27th March 2024. Why in the News? A recent study conducted by the India Meteorological Department (IMD) in Pune has warned… Continue reading Decreasing trend in solar radiation for electricity in India

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Symbol Loading Unit (SLU)

Source- This post on Symbol Loading Unit (SLU) and how it works is based on the article “SLU, ‘matchbox’ that feeds EVM candidate info” published in “The Indian Express” on 26th March 2024. Why in the News? Recently, the Supreme Court dismissed a request to verify 100% of Voter Verifiable Paper Audit Trail (VVPAT) slips… Continue reading Symbol Loading Unit (SLU)

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