Author: ForumIAS

Finance Ministry follows RBI, warns about cryptocurrencies  Context Cryptocurrency What has happened? The government has joined the Reserve Bank of India in cautioning potential customers about investing in cryptocurrencies like bitcoin, likening them to ponzi schemes where investors risk losing their money What did the government issued statement say? VCs don’t have any intrinsic value… Continue reading Finance Ministry follows RBI, warns about cryptocurrencies 

‘E-way bill to boost GST compliance’  Context E way bill system News The mandatory implementation of the e-way bill system from February 1 for all inter-State movement of non-exempted goods will help boost compliance under the Goods and Services Tax (GST) regime, according to Hasmukh Adhia, Finance Secretary Backdrop The July 1 implementation of GST… Continue reading ‘E-way bill to boost GST compliance’ 

Govt. injects funds into 6 public banks  Context Injecting funds in the banks What has happened? The Centre has released the much-required equity capital to six stressed public sector banks (PSBs) as some of these lenders were on the verge of breaching minimum capital norms on December 31, 2017 Which banks have received the funds?… Continue reading Govt. injects funds into 6 public banks 

Lok Sabha amends bankruptcy law Context Amendment made to Insolvency & bankruptcy law What has been done? The Lok Sabha has amended the Insolvency and Bankruptcy Code law to prevent wilful defaulters and existing promoters from taking part in insolvency proceedings of stressed assets of companies unless they make their bad loans operational by paying… Continue reading Lok Sabha amends bankruptcy law

Women hail Bill against triple talaq  Context Passage of Triple Talaq Bill by LS News A day after the Lok Sabha passed the contentious bill on instant triple talaq, the development was hailed by several Muslim women involved in the judicial war against the practice, with a rider that the government should have also banned polygamy… Continue reading Women hail Bill against triple talaq 

A necessary reform  Context Eliminating conflict of interest Author’s contention Author contends that there is a need for removing discretion and codifying the conflict of interest inherent in having senior bureaucrats assuming corporate roles post-resignation or retirement Conflict of interest Vested interests have increasingly captured regulatory boards — consider the case of the Food Safety… Continue reading A necessary reform 

Taking on the gatekeepers  Context As long as courts affirm ‘community’ claims, don’t expect the Censor Board to protect free speech Backdrop Censor board has constituted a six-member panel was being constituted to review the film Padmavati, before it could be granted a censor certificate and publicly exhibited. Members of the panel include historians as well as… Continue reading Taking on the gatekeepers 

‘Punish the guilty for their crimes, not their poverty’  Context A convict’s poverty should not be the reason for him to spend years in prison even after serving a substantial prison sentence, that too, merely because he is unable to pay the fine amount the criminal court had imposed on him, the Supreme Court said… Continue reading ‘Punish the guilty for their crimes, not their poverty’ 

India yet to find reason for darkening Siang  Context The Union government has conveyed its views and concerns to the Chinese authorities, including at the highest levels of the government, on the unusual darkening of the Siang river in Arunachal Pradesh, Union Minister of State for Water Resources Arjun Ram Meghwal said in reply to… Continue reading India yet to find reason for darkening Siang 

Ancient jumping genes may give corals new lease of life  What has happened? Scientists have identified a gene that improves the heat tolerance of the algae that live symbiotically with coral species, and could potentially help the corals adapt to some warming Effect of rising temperatures Symbiodinium is a unicellular algae that provides its coral… Continue reading Ancient jumping genes may give corals new lease of life