GS-II: Automatic Exchange of Information (AEOI) Regime
News
Banking details of Indians with accounts in Switzerland will be available to tax authorities as the automatic exchange of information regime kicks off between the two countries. In 2016, India and Switzerland had signed an information-sharing deal on bank accounts, which was to come in effect from September 2019.
About Automatic Exchange of Information (AEOI)
Benefits of the regime
In 2018, data from Zurich-based Swiss National Bank (SNB) had shown that after declining for three years, money parked by Indians in Swiss Banks rose 50 per cent to CHF (Swiss Franc) 1.02 billion in 2017 over the previous year. The step is likely to shed more light on the wealth Indians have stashed away in Swiss bank accounts, for so long governed by strict local rules of secrecy.
Source: The Hindu
GS-II: Interpol Red Notice
News
As many as 18 requests for RNs from India are pending with Interpol, including against famous fugitives hiding abroad.
INTERPOL:
Red Notices
Why Red Notice?
Importance of Red Notice
Source: The Hindu
GS-III: A polar region we must keep on the radar in a multipolar world
Context
Recent offer by the US president to buy Greenland is indicative of the emerging geopolitics of the Arctic region. Climate change and China are fast destabilizing the status quo and throwing up political, security, legal, and environmental challenges. Autonomous vehicles and robots can populate uninhabitable regions and the next few decades could see the Arctic emerge as a hotspot of great power competition.
Background
Arctic politics
Source: Live Mint
GS-III: Mergers of Bank
Context
The Centre announced a mega amalgamation plan, the third in a row, that merged ten public sector banks into four larger entities, these series of mergers the number of state-owned banks is down to 12 from 27.
About Merger:
How does it help the government?
How have previous bank mergers fared?
Will this help improve the performance metrics now?
Source: Indian Express
GS-III: A new ethics for a sustainable planet
Context
Brazil’s Amazon forests are ablaze with dozens of fires mostly set intentionally by loggers and others seeking greater access to forest land. They are paving the way for a global climate catastrophe.
Climate Change
Examples of Climate Change
Importance of Land Management:
CONCLUSION
Land use policy should incorporate better access to markets for small and marginal farmers, empower women farmers, expand agricultural services and strengthen land tenure systems.
Source: The Hindu
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