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Weapon of Mass Destruction Amendment Bill

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  Context   The Lok Sabha has recently passed the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Amendment Bill, 2022 which sought to prohibit the funding of Weapons of Mass Destruction (WMDs).  Need for Amendment According to the Statement of Objects and Reasons of the Bill, the need to amend the WMD Act rose because In recent times, regulations relating to proliferation of weapons of mass destruction and their delivery systems by international organizations have expanded.  The United Nations Security Council’s targeted financial sanctions and the recommendations of the Financial Action Task Force have mandated against the financing of the proliferation of weapons of mass destruction and their delivery systems.  With advancements in technologies, new kinds of threats have emerged that were not sufficiently catered for in the existing legislation. Therefore, the Amendment keeps pace with evolving threats....
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Rashtriya Gram Swaraj Abhiyan (RGSA)

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 Context The Union Cabinet recently approved continuation of the revamped Centrally Sponsored Scheme of Rashtriya Gram Swaraj Abhiyan (RGSA) for 2022 to 2026. About Rashtriya Gram Swaraj Abhiyan (RGSA)  The Union Cabinet approved the Centrally Sponsored Scheme of RGSA in 2018.  Committee: RSGA was started on the recommendations of the committee chaired by the Vice Chairman of NITI Aayog.  Duration: For implementation from Financial Year 2018-19 to 2021-22.  Evaluation: RGSA was evaluated by a third party in 2021-22.  The evaluation study praised the RGSA scheme's actions and recommended that it be continued to enhance Panchayati Raj Institutions (PRIs).  Objective Deliver on Sustainable Development Goals (SDGs): To prepare elected representatives of Panchayati Raj for leadership roles in order to establish an effective third tier of government that can deliver on SDG localization.  Features of the schemes Panchayats as Focal point: Panchayats...
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The Quarrel over the Kuril Islands

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  Context   Recently, the Japanese government described Kuril islands, which is known as Northern Territory in Japan and the Southern Kuril islands in Russia, as under “illegal occupation” by Russia.  Location of Kuril Islands Background   This is the first time since almost two decades, the Japanese Bluebook of diplomacy for 2022 used the reference of “illegal occupation” for the Kuril islands which had been an area of concern between Russia and Japan since 2003.  What are Kuril islands?   These are a set of four islands located between the Northern Prefecture of Japan, Hokkaido and the Kamchatka Peninsula of Russia.  The islands are situated between the Sea of Okhotsk and the Pacific Ocean.  The islands belong to the Pacific Ring of Fire which is a highly unstable region with many active volcanoes.  Post World War II, the disputed islands between Russia and Japan had been under the possession of Russia. History of the disputed claims ...
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Digital Banking Units

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  Context Recently, the Union Finance Minister reiterated the Budget announcement on setting up 75 digital banking units in 75 districts of the country this year.  Background Digital banking involves the digitization of all traditional banking products, processes and activities to serve customers through online channels.  The government is continuously encouraging digital banking, digital payments and Fintech innovation to ensure that the benefits of banking reach every nook and corner of the country, in a consumer-friendly manner.  In continuation to this, the Union Budget 2022-23 announced setting up 75 Digital Banking Units (DBUs) in 75 districts to commemorate the 75 years of independence of our country (Azadi ka Amrit Mahotsav).  What are Digital Banking Units?   As per the guidelines released by RBI, a digital banking unit is a specialised fixed point business unit, housing a certain minimum digital infrastructure, that helps in delivering bank...
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Punjab’s Claim over Chandigarh

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Relevance  The Center notified Central Service Rules for employees in the Union Territory of Chandigarh instead of the Punjab Service Rules. Alongside, the Punjab Assembly in a special session passed a unanimous resolution reiterating it's claim on Chandigarh.  The Status of Chandigarh   After Partition, Shimla was made the temporary capital of Indian Punjab as Lahore went to the Pakistani side of Punjab. A modern city was proposed to be built to replace Lahore.  In 1948, the foothills of the Shivaliks were chosen as the site of the new capital.  The capital was officially moved from Shimla to Chandigarh in 1953.  The Punjab Reorganization Act of 1966 carved out the new state of Haryana from Punjab, created the new Union Territory of Chandigarh under the direct control of the Centre, and transferred the hill territories of Punjab to Himachal Pradesh.  Chandigarh, became the common capital of both Punjab and Haryana, and properties w...
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Standing Deposit Facility

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Relevance In its first bi-monthly monetary policy meeting for FY 2023, the Reserve Bank of India announced a new tool to absorb excess liquidity from the system – Standing Deposit Facility (SDF).  Standing Deposit Facility   This new tool of RBI can absorb excess liquidity from the commercial banks without an exchange of collateral such as government-backed securities (G-Secs).  Interest rate for SDF has been fixed at 3.75 percent, 40 basis points higher than the reverse repo rate (and below the policy rate).  It will benefit both the central bank and commercial banks, as it will be more attractive for the commercial banks to pump that liquidity back to the central bank due to higher returns, while for the central bank it would not need to offer any security to the commercial bank.  The SDF is currently available as an overnight facility.  When was SDF first introduced?   The idea about SDF was initially introduced by a monetary policy ...
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INS Vagsheer

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Relevance   The sixth and last of the French Scorpene class submarines, INS Vagsheer, was launched into water at the Mazagon Docks in Mumbai.  INS Vagsheer Features   It is the last of the Scorpene class submarines made under the P75 project.  It was designed by French naval defense and energy company DCNS and manufactured by Mazagon Dock Limited.  Vagsheer is a diesel attack Scorpene class submarine.  It can do offensive operations across the spectrum of naval warfare including anti-surface warfare, anti-submarine warfare, intelligence gathering, mine laying and area surveillance.  It is enabled with a C303 anti-torpedo counter-measure system.  It can carry up to 18 torpedoes.  Its superior stealth features include advanced acoustic absorption techniques, low radiated noise levels, and hydro-dynamically optimized shape.  It has the ability to launch precision guided weapons, underwater or on surface.  It will be equi...
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Digital Services Act (DSA) by European Union

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Relevance The European Union agrees on a landmark law aimed at forcing Big Tech firms to tackle illegal content, hate speech, disinformation and other harmful content.  What is the Digital Service Act (DSA) ? It is a proposed piece of legislation of the EU to establish an “new standard” for online platforms such as Google, Meta (Facebook), and Twitter to track illegal and harmful content.  Objective of the DSA Better protect consumers and their fundamental rights online.  Establish robust transparency and a clear accountability framework for online platforms.  Foster innovation, growth, and competitiveness within the single market.  Implication of the Act It would restrict digital giants to target users with online content /ads.  It would stop platforms from targeting users with algorithms using data based on their gender, race or religion.  It will force online platforms to share how their algorithms work with authority.  It wil...
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RBI issued new guidelines for Credit and Debit Cards

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  Relevance Recently, the RBI has opened a window for non banking finance companies (NBFCs) to issue credit cards and debit cards with the prior approval of the regulator.  Highlights of the Guidelines Conduct of Credit Card Business Scheduled Commercial Banks (SCBs) (except RRBs) with net worth of ₹100 crore.  RRBs are permitted to issue credit cards in collaboration with their sponsor bank or other banks.  Urban Cooperative Banks (UCBs) with minimum net worth of ₹100 crore.  Non-Banking Financial Companies registered with the Reserve Bank can undertake credit card business only with prior approval of the Reserve Bank. Conduct of Debit Card Business Almost all the banks issue debit cards.  Prior approval of the Reserve Bank is not necessary for banks desirous of issuing debit cards to their customers. Failure on the part of the card-issuers to complete the process of closure within seven working days shall result in a p...
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The Delhi Municipal Corporation (Amendment) Act, 2022

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  Relevance Recently, President Ram Nath Kovind has given his assent to the Delhi Municipal Corporation (Amendment) Bill, 2022. About the news The act seeks to unify the three civic bodies in the national capital.  The act was brought by the center (The Center has the power to enact laws in the Union Territory of Delhi) . Historical background  In the original Constitution of India, there was no provision made for the establishment of local self-government except in Article 40 in the Directive Principles of State Policy.   Administration of Municipalities and Nagar Palikas are dealt through 74th Amendment Act, 1992 which was inserted a new Part IX-A   It consists of Article 243P to 243ZG. About Delhi Municipal Corporation (Amendment) Bill, 2022  The Delhi Municipal Corporation (Amendment) Bill, 2022 was introduced in Lok Sabha in March, 2022.  The Bill seeks to amend the Delhi Municipal Corporation Act, 1957...
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