- Paschim Lehar is a tri-service exercise involving the Air Force, the Navy and the Army. It was carried out in the Arabian Sea in February 2018. Read more at Business Standard.
- Payments bank comes under a differentiated bank licence since it cannot offer all the services that a commercial bank offers. In particular, a payments bank cannot lend. It can take deposits upto Rs. 1 lakh per account and it can issue debit cards but not credit cards. A payments bank can work as a business correspondent (BC) of another bank. They can also distribute simple financial products like mutual fund units and insurance products. They can enable transfers and remittances through a mobile phone. They can also provide forex cards to travellers, usable again as a debit or ATM card all over India. Source: The Hindu and The Hindu. Also read: The Hindu’s report on PayTM.
- On 23 September 2013, Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by Nachiket Mor, was formed by the RBI. On 7 January 2014, the Nachiket Mor committee submitted its final report. Among its various recommendations, it recommended the formation of a new category of bank called payments bank. The payment banks, apart from maintaining Cash Reserve Ratio (CRR), have to invest a minimum 75% of demand deposit balances in Statutory Liquidity Ratio (SLR)-eligible government securities or treasury bills with maturity of up to one year and hold a maximum of 25% in current and time/fixed deposits with other commercial banks for operational purposes and liquidity management. Sources: Wikipedia and The Hindu. Payment banks are allowed to outsource collection and verification of ‘know your customer’ (KYC) documents to a business correspondent. But the onus on deciding whether the account should be opened or not rests with the bank. Also read: The Hindu’s report on PayTM.
- The Instrument of Accession signed by Maharaja Hari Singh in 1947 which brought the State into the Union of India gave New Delhi control only over Kashmir’s defence, foreign policy and communications. On all other matters, the State government retained powers. The State had its own Constituent Assembly and flag; there were customs checks between India and the State; the Supreme Court did not have jurisdiction over key issues in the State; Kashmir militia was constituted as a separate force; and Srinagar tried to send its own trade commissioners to foreign countries. Read more at The Hindu.
- Article 371 provides for special provisions with respect to states of Maharashtra and Gujarat while Article 371-C provides for special provisions with respect to the state of Manipur.
- If it becomes necessary at any stage to withdraw a Bill, the Ministry of Law and Justice and the Ministry of Parliamentary Affairs will be consulted and approval of the Cabinet will be obtained. Where, however, for want of time, it is not possible to obtain prior approval of the Cabinet, the Minister in-charge will take a decision in consultation with the Prime Minister. As soon as possible thereafter, a note in the usual form will be submitted for ex post factoapproval of the Cabinet. A statement giving reasons for the withdrawal will also be sent to the LS/RS Secretariat at least five days before the date on which the motion for withdrawal is to be made. Source: Ministry of Parliamentary Affairs. Also read: The Hindu’s report on the withdrawal of FRDI Bill.
- The Departmentally-related Standing Committee (DRSC) system in Indian Parliament came into force in August, 1989 with the setting up of three Subject Committees on Agriculture, Science & Technology and Environment & Forests. The successful functioning of these Committees led to the constitution on 8 April, 1993 of 17 DRSCs. The year 1993 ushered in a new era in the history of Indian Parliament when 17 Departmentally Related Standing Committees were constituted. The number of Standing Committees has now been increased from 17 to 24. While 8 Committees work under the direction of the Chairman, Rajya Sabha, 16 Committees work under the direction of the Speaker, Lok Sabha. One of the important functions of these Committees is to examine such Bills introduced in either House as are referred to them by the Chairman, Rajya Sabha or the Speaker, Lok Sabha, as the case may be, and make report thereon. The reports of the Standing Committees have persuasive value. In case the Government accepts any of the recommendations of the Committee, it may bring forward official amendments at the consideration stage of the Bill or may withdraw the Bill reported by the Standing Committee and bring forward a new Bill after incorporating the recommendations of the Standing Committee. Source: Lok Sabha Website. Read more: Introduction to Departmentally Related Standing Committees.
- A Money Bill cannot be introduced in Rajya Sabha. It can only be introduced in Lok Sabha with prior recommendation of the President for introduction in Lok Sabha. If any question arises whether a Bill is a Money Bill or not, the decision of the Speaker thereon is final. A Money Bill or a Financial Bill containing any of the provisions calculated to make a Bill a Money Bill cannot be referred to a Joint Committee of the Houses. Source: Lok Sabha Website.
- In case such a motion (for withdrawal of a Bill) relates to a Bill pending before a Select/Joint Committee, the withdrawal motion stands referred to that Committee for its opinion. It is proceeded with only after the opinion of the Committee in the form of a report is received by the House. The procedure regarding withdrawal of a Private Members’ Bill is similar to that of a Government Bill. However, in such a case no statement giving reasons for such withdrawal is required. Source: Rajya Sabha and Rajya Sabha. Also read: The Hindu’s report on the withdrawal of FRDI Bill.
- The BCCI is presently working as private entity under the Tamil Nadu Societies Registration Act. It is not a ‘state’ as defined under Article 12 of the Constitution of India. However, recently, the Law Commission of India has submitted the 275th report titled (headed by Justice B.S. Chauhan) LEGAL FRAMEWORK: BCCI vis-à-vis RIGHT TO INFORMATION ACT, 2005 to the Ministry of Law and Justice. In the Report the Commission has recommended that the BCCI be viewed as an agency or instrumentality of State, under Article 12 of the Constitution, thereby making it amenable to the writ jurisdiction of the Supreme Court under Article 32. The Commission has also recommended that the BCCI should be held under all circumstances, for any violations of basic human rights of the stakeholders. Additionally, it is recommended that RTI Act be made applicable to BCCI along with all its constituent member cricketing associations, provided they fulfil the criteria applicable to BCCI. Source: LiveLaw and Firstpost. Also read: The Hindu.
Categories: POINT IAS
Leave a Reply