9 PM Daily Current Affairs Brief – July 24, 2017

The boycott ban: Maharashtra’s law makes a bench mark Context: Maharashtra’s new law prohibiting the social boycott of individuals, families or any community by informal village councils is a step in the right direction. The Maharashtra Protection of People from Social Boycott (Prevention, Prohibition and Redressal) Act, 2016 Objectives: The state’s legislation targets the pernicious… Continue reading The boycott ban:

A Litmus Test:  Context Loss of Right to Privacy will take away the minute rights citizens hold today. The right to privacy is not explicitly mentioned in the Constitution. The cons of not having Right to Privacy Citizens will lose guards against surveillance and even reporting by the state, the state could target those who… Continue reading A Litmus Test: 

CAG flags delay in work on corvettes: CAG condemns delay in construction of anti-submarine warfare corvettes Context The Comptroller and Auditor-General (CAG) has condemned the Navy and Garden Reach Shipbuilders and Engineers Ltd. for delay in construction of anti-submarine warfare corvettes and hampering their capabilities because of delayed decisions. The report The report claims that… Continue reading CAG flags delay in work on corvettes:

Once hero, now ‘white elephant’: (Once a pride, INS Vagli lies unattended) Context: Decommissioned in 2010, the Russia-designed submarine INS Vagli currently lies idle at the Chennai port. She proudly served the Indian Navy and the nation for over 36 years. Introduction: The maritime heritage museum was expected to be displayed on a 30-acre stretch… Continue reading Once hero, now ‘white elephant’:

The RBI’s harsh prescription:  Context Reserve Bank of India (RBI) cited 12 accounts for reference under Insolvency and Bankruptcy Code and also mentioned that RBI will notify revised provisioning norms for cases accepted under the code. The RBI directives RBI has mandated banks to set aside at least 50% of the loan amount as probable… Continue reading The RBI’s harsh prescription: 

NITI Aayog: An institution to fix implementation issues:  Context: NITI Aayog is responsible of monitoring and evaluating government schemes but its performance is below par Introduction: In his last month’s radio address, Prime Minister Narendra Modi appreciated the importance of constructive criticism in strengthening democracy and the government’s performance. Background: Governments in the past have… Continue reading NITI Aayog: An institution to fix implementation issues: 

Forum concerned at ‘secret’ RCEP talks: (RCEP mega FTA talk to be held in India) Context: Talks to forge a mega free trade agreement (FTA) encompassing Asia and Oceania will take place in India this week with countries striving for an early settlement of the accord, the government said on Sunday. Introduction: Civil society organizations… Continue reading Forum concerned at ‘secret’ RCEP talks:

MPC members to get Rs. 1.5 lakh per meet, must disclose assets: (MPC members to get Rs 1.5 lakh per meet) Context: RBI says that govt appointees on the Monetary Policy Committee will be paid Rs 1.5 lakh per meeting along with air travel and other reimbursements. Introduction: The silent period and confidentiality requirements will… Continue reading MPC members to get Rs. 1.5 lakh per meet, must disclose assets:

Payments bank: for the informal sector: India has four Payment Banks now Context: There are two kinds of banking licences that are granted by Reserve Bank of India –Universal bank licence and differentiated bank licence. Payment Banks comes under a differentiated bank lincence since it cannot offer all the services that a commercial bank offers.… Continue reading Payments bank: for the informal sector: