Author: ForumIAS

Sri Lanka’s first national unity government in trouble Context: Sri Lankan first national unity government is in trouble What has happened? Sri Lankan President and PM have failed to reach consensus on the future of their coalition government, following the huge defeat their parties has suffered in the recent local government elections. They have decided… Continue reading Sri Lanka’s first national unity government in trouble

Funds push for project to benefit desert areas Context: A new loan agreement for water sector is set to benefit the desert areas in Rajasthan through restructuring of Indira Gandhi Canal and formulation of flood management systems for the Ravi, Beas, Sutlej and Ghaggar rivers. The agreement: The agreement has been signed with New Development… Continue reading Funds push for project to benefit desert areas

DVC to start exporting power to Bangladesh Context: Damodar Valley Corporation (DVC) would soon begin exporting power to Bangladesh. Details: DVC would soon begin exporting power to Bangladesh on the basis of a bid it had won, for supplying 300 MW It has won the bid through its power trading partner NTPC Vidyut Vyapar Nigam… Continue reading DVC to start exporting power to Bangladesh

Centre targets industry to save power Context: The Centre, through its company Energy Efficiency Services Limited (EESL), is planning to replicate its success in the LED space in the commercial sector by creating a market for low-cost, energy-efficient motors. Rationale behind this decision: A large chunk of energy consumption goes to industry. About 30-34% of… Continue reading Centre targets industry to save power

India initiates review of anti-dumping duty on Chinese steel wheel imports Context: India has initiated a review of the anti-dumping duty on flat base steel wheels from China. Background: India had in 2013 imposed duty up to $613 per tonne on import of the product from China for five years. As per the World Trade… Continue reading India initiates review of anti-dumping duty on Chinese steel wheel imports

PNB warns peers about LoU fraud Context: Reeling from a ₹11,500-crore fraud, Punjab National Bank reached out to alert other lenders to the perpetrators’ modus operandi, while at the same time apportioning a share of the blame to its competitors’ overseas branches. What has happened? Recently, PNB found that the SWIFT system had been misused… Continue reading PNB warns peers about LoU fraud

The ratings illusion Context: Modern day credit rating agencies were first established after the financial crisis of 1837 in the U.S. Such agencies were then needed to rate the ability of a merchant to pay his debts, consolidating such data in ledgers; soon enough, such ratings were being applied to equity stocks. Background: By the… Continue reading The ratings illusion

₹11,500 crore fraud rocks state-run PNB Context: State-run lender Punjab National Bank (PNB) reported unauthorised transactions worth ₹11,500 crore in one of its branches in south Mumbai. Banking fraud: The Enforcement Directorate has registered a money laundering case in the matter. It involves Mumbai-based billionaire diamond merchant Nirav Modi. A case has been registered by… Continue reading ₹11,500 crore fraud rocks state-run PNB

Mind the perimeter: On J&K terror attacks Context: The number of casualties in the terror attack on the Sunjuwan Army base in Jammu has risen to seven after clearing operations. The terror attack: The garrison of the 36 Brigade of Jammu and Kashmir Light Infantry was attacked by a small group of heavily armed terrorists… Continue reading Mind the perimeter: On J&K terror attacks

Supreme Court may hear plea to take up two-child norm Context: The Supreme Court may hear a plea to direct the Union government to adopt the “two-child” policy norm in family planning. About the Petition: The public interest litigation petition has been filed by activist Anupam Bajpai The petition calls for incentives for couples who… Continue reading Supreme Court may hear plea to take up two-child norm