Syllabus subtopic: Bilateral, Regional and Global Groupings and Agreements involving India and/or affecting India’s interests.
Prelims and Mains focus: about the move and its significance; about IOC
News: India has joined as an observer of the Indian Ocean Commission.
About the move
With this, India joins China, which was made an observer in 2016, as well as the “International Organisation of the Francophonie” or the 54-nation French-speaking collective, the European Union (EU) and Malta, which were all admitted in 2017.
Background
Significance of the move
About IOC
The COI works on four pillars which have been adopted in 2005 by the Summit of Heads of States:
Source: The Hindu
Syllabus subtopic: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation.
Prelims and Mains focus: about the key features of the bill
News: The Lok Sabha passed the Mines and Mineral Laws (Amendment) Bill amid sloganeering by Opposition members over the Delhi violence and other issues.
Key features of the Bill
Source: The Hindu
Syllabus subtopic: Important Aspects of Governance, Transparency and Accountability
Prelims and Mains focus: about the issue and recommendations of the committee
News: The parliamentary panel on Personnel, Public Grievances, Law and Justice has pulled up the government for “dismal implementation” of the reservation policy.
About the issue
Recommendations
Source: The Hindu
Syllabus subtopic: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation.
Prelims and Mains focus: key highlights of the bill and its significance
News: The Lok Sabha passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019.
Background
The Bill was first tabled in Lok Sabha on December 12, 2019, but was referred to the Standing Committee on Finance before being reintroduced in Parliament on 6th February. The Bill is set to replace an ordinance which had brought provisions of the Bill into effect on December 28, 2019.
Key highlights of the Bill
Key Issues and Analysis
Source: Indian Express
Syllabus subtopic: Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth.
Prelims and Mains focus: about the currency swap agreement and its significance
News: Reserve Bank of India (RBI) governor made a case for international multilateral agencies like the International Monetary Fund (IMF) launching currency swaps for countries affected by the spread of COVID-19, also known as coronavirus.
Need
A swap line was critical from the point of view of preserving global financial stability. The global economy has been hit hard by COVID-19. According to IMF projections, the outbreak’s impact on the global economy will be 0.1 per cent and 0.4 per cent on the Chinese economy.
What is the benefit?
A coordinated swap line would act as a second line of defence to bolster national reserves across nations.
What is a currency swap agreement?
What is the purpose of currency swap?
1) Exchange cash for cash vs cash for securities;
2) Exchange conditional vs unconditional swaps;
3) Exchange reserve currencies on both sides;
4) Exchange reserve currency for non-reserve currency; and
5) Exchange non-reserve currencies on both sides.
Source: Indian Express
Syllabus subtopic: Challenges to Internal Security through Communication Networks, Role of Media and Social Networking Sites in Internal Security Challenges, Basics of Cyber Security
Prelims and Mains focus: about the cyber security threat concerning India; about NTRO
News: Although India is the fifth most important target of cyber threats, the country does not focus enough on security during the technology development process, National Technical Research Organisation (NTRO) chairman told an audience of cyber security experts at the cyber security Nullcon conference at Dona Paula in Goa.
Need of the hour
About NTRO
Source: Indian Express
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