Author: ForumIAS

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

Prasar Bharati, Centre on collision course Context: The Prasar Bharati Board on Thursday will discuss a proposal of the Information and Broadcasting Ministry to appoint an IAS officer as a board member, giving it a larger say in the working of the autonomous public service broadcaster. Introduction: Surya Prakash, who was recently reappointed Prasar Bharati… Continue reading Prasar Bharati, Centre on collision course

Order to install CCTV cameras in courts is only for security reasons, clarifies Supreme Court Context: Recently, the Supreme Court passed orders for installation of CCTV cameras in courts. Background: On March 28, 2017, the Supreme Court directed that CCTV cameras should be installed in courts and important locations of court complexes in at least… Continue reading Order to install CCTV cameras in courts is only for security reasons, clarifies Supreme Court

Pakistan backed terrorists will continue attacks in India, says U.S. intel chief Context: The United States intelligence chief has said that he expected increased tensions between India and Pakistan. Details: U.S Intelligence Chief warned that terror groups supported by Pakistan will continue to attack inside India The remark was made during the hearing on ‘Worldwide… Continue reading Pakistan backed terrorists will continue attacks in India, says U.S. intel chief