Author: ForumIAS

UIDAI tightens norms for Aadhaar-bank account linking  Context Following the  Airetel India- Aadhaar subsidy fiasco,the Unique Identification Authority of India (UIDAI) on Tuesday has tightened the norms for mapping Aadhaar number to a different bank account. According to the latest rules, ‘explicitly informed consent’ from customers has been made compulsory The National Payments Corporation of… Continue reading UIDAI tightens norms for Aadhaar-bank account linking 

Reveal, recognise, resolve  Context Gap between global banks and Indian banks on bad loan recovery is set to narrow 5 theories There are five theories for why Indian banks recover so little of their bad loans The first suggests something cultural about repayment intentions of Indian borrowers The second theory suggests that many big bank… Continue reading Reveal, recognise, resolve 

NitiAayog to set up Methanol Economy Fund  Context NitiAayog plans to set up a Methanol Economy Fund worth Rs 4,000-5,000 crore to promote production and use of the clean fuel. The government think is aiming at generation of the fuel by converting high ash content coal into methanol and such a plant is expected to be… Continue reading NitiAayog to set up Methanol Economy Fund 

‘Centre planning strategy to boost services exports’  Context The government is formulating a new strategy to boost services exports by identifying new markets such as Latin America as well as services, including healthcare and financial services, which have tremendous potential in terms of exports and job creation, according to Commerce Minister Suresh Prabhu. Backdrop The… Continue reading ‘Centre planning strategy to boost services exports’ 

Amendments to Companies Act passed; to ease compliance  Context A bill to amend the companies law to strengthen corporate governance standards, initiate strict action against defaulting companies, and help improve the ease of doing business in the country, was passed by Parliament on Tuesday New law will ensure better corporate governance: Minister The RajyaSabha passed… Continue reading Amendments to Companies Act passed; to ease compliance 

Need to bolster WTO process’  Context The World Trade Organisation (WTO) process needs to be strengthened and taken forward as India has a strategic interest in the functioning of the multilateral trade system, according to Commerce Minister Suresh Prabhu. Backdrop Briefing members of Federation of Indian Chambers of Commerce and Industry in a closed-door meeting… Continue reading Need to bolster WTO process’ 

Northeast policy to aid trade with ASEAN’  Context The new Industrial Policy being framed for the development of industries in the northeast would prove catalytic to the trade with southeast Asian nations, according to the government. Govt. to work on improving FDI inflow The department-related Parliamentary Standing Committee on Commerce, in its report on trade… Continue reading Northeast policy to aid trade with ASEAN’ 

CAG picks flaws in Centre’s accounting  Context The Comptroller and Auditor General of India (CAG) has highlighted several flaws in the Union government’s accounting procedures for the financial year 2015-16, which could have led to an understatement of the fiscal deficit and revenue deficit for that year FRBM audit shows FY16 fiscal deficit possibly understated… Continue reading CAG picks flaws in Centre’s accounting 

Seeing through a glass darkly: on combating terrorism Context Terrorism Different type of attacks Recent attacks in Europe and parts of Asia, from 2015 to 2017 — beginning with the attack on the Charlie Hebdo offices in Paris in January 2015 The major incidents at Brussels and Istanbul Ataturk airports as well as the Bastille Day… Continue reading Seeing through a glass darkly: on combating terrorism

Centre examining health effects of e-cigarettes: Nadda  Context The government is examining the legal implications and health effects of e-cigarettes, Union Health Minister J.P. Nadda told the RajyaSabha on Tuesday Groups constituted by government Health Ministry had constituted three groups to study the various aspects of e-cigarettes One was to study the legal implications of… Continue reading Centre examining health effects of e-cigarettes: Nadda