News Snippet

News 1: ‘India’s coal mines are severely under-utilised amid push for new ones’

News 2: India has potential to attract $475 billion in FDI in 5 years: report

News 3: Public dashboard to track progress of remediation of legacy landfills

News 4: T.N. raises concern over presence of Chinese troops in Sri Lanka

News 5: Understanding the Global Hunger Index

News 6: Tax on windfall profit on crude oil, export of diesel, ATF raised

News 7:  Centre considering Sri Lanka’s proposal to translocate gaurs

News 8: U.S.-India Trade Policy Forum set for Nov. 8, modest outcomes likely

News 9: PM for use of regional languages in legal system to bring ease of justice

News 10: 6 varieties of neelakurinji identified in Santhanpara region of Western Ghats

News 11: DBUs to further augment digital infrastructure, says RBI Governor

News 12: Indian travellers to Europe can now make payments via UPI, here’s how

Other important news:

  1. Dehing Patkai National Park
  2. Hampi
  3. Khajuraho Group of Monuments

News 1: ‘India’s coal mines are severely under-utilised amid push for new ones’


Background:

  • On average, India’s coal mines use only two-thirds of the capacity, with some large ones using only 1%, says an analysis by Global Energy Monitor (GEM), a firm that tracks utilisation of the fuel-source internationally.

Findings:

  • This suggests that 99 of India’s coal mine projects, expected to yield 427 million tonnes per annum (MTPA), under development are unnecessary, and opening new coal mines would not contribute to easing short-term supply-crunches.
  • GEM performed its analysis by surveying annual reports of Coal India, the largest coal producer in the world, and its subsidiaries and underlines that the company has not listed capacity constraints as among the reasons it fails to reach production targets.
  • Instead, it blames “..competition from renewables, infrastructure impasses, and land-use concerns for hindering output…” the report notes.

Coal mines under development threaten:

  • Displacement of villages which will affect families, of which predominant population is tribal communities.
  • Agricultural land and 19,297 ha of forest
  • Consume at least 168,041 kilolitres of water per day, comparable to the daily water needs of over one million people, according to GEM.

On the heels of Prime Minister Narendra Modi’s announcement of a net zero target of 2070, these new mines “… increase India’s likelihood of stranded assets, delay a clean energy future — and in the process pose irreversible impacts on India’s rural communities and environments for the sake of economically precarious mining ventures”, the report underlines.

‘Warning signs ignored’

  •  “New mines can’t make the industry’s old problems go away. The irony of this expansion is that opening new mines today could intensify the sector’s weaknesses and inefficiencies tomorrow, especially as competition from renewables and conflicts over land use continue to emerge.”

News 2: India has potential to attract $475 billion in FDI in 5 years: report


Background:

  • Even as the COVID-19 pandemic and geopolitical conflict resulted in investor uncertainty, India has the potential to attract Foreign Direct Investment (FDI) flows of $475 billion in the next five years due to the focus on reforms and economic growth, according to a report by the Confederation of Indian Industries (CII) and EY.

Findings:

  • The report noted that FDI in India has seen a consistent rise in the past decade, with FY 2021-22 receiving FDI inflow of $84.8 billion despite the impact of the pandemic and geopolitical developments on investment sentiment.
  • The report titled, Vision — Developed India: Opportunities and Expectations of MNCs, added that 71% of MNCs working in India consider the country an important destination for their global expansion.
  • The confidence in India’s potential, the report said, stems from strong consumption trends, digitisation and a growing services sector, along with government’s strong focus on infrastructure and manufacturing. The Indian government’s consistent efforts to reduce regulatory barriers is also stoking the positive perception among MNCs, it said.

News 3: Public dashboard to track progress of remediation of legacy landfills


Background:

  • Preparations to complete one of the targets of the Swachh Bharat Mission (Urban) 2.0 that was launched a year ago — the remediation of all legacy landfills in the country — are in full swing and a public dashboard on the progress at 2,200 such sites is in the offing, Housing and Urban Affairs Ministry officials said.
  • To begin with, an official said, there was no data on the exact number of landfill sites. While landfills were only supposed to contain the remnants of solid waste after processing, the segregation and management were not carried out over the years, leaving mountains of trash. Any waste that has remained dumped for over three months is considered “legacy”, the official said.
  • Through the portal, citizens would be able to track the progress of their cities’ action plans for remediation of legacy landfills. The plans cover everything from remediation to the eventual reuse of the land. Once removed, the sites would free up 15,000 acres of land, the official said.

Swachh Bharat Mission (Urban):

  • Ministry: Ministry of Housing and Urban Affairs
  • Launched: 2nd October, 2014
  • Aim: Achieving 100% Open Defecation Free (ODF) status through construction of Individual Household Latrines (IHHLs) and Community/ Public Toilets (CT/PTs) in all urban local bodies

Swachh Bharat Mission (Urban) 2.0:

  • Ministry: Ministry of Housing and Urban Affairs
  • Launched: October 1, 2021
  • Ending: October 1, 2026
  • Objective: To achieve “Garbage Free” status for all cities through 100 per cent source segregation, door-to-door collection of segregated waste and scientific processing and management of all fractions of waste, including its safe disposal in scientific landfills.
  • The scheme envisages remediation of all legacy dumpsites by converting them into green zones.

Focus areas:

  • To achieve the vision of a “Garbage Free” Urban India, more focus is required to be given to issues such as source segregation, collection & transportation, and processing, including effective management of Construction & Demolition waste, plastic waste management including reduction in single use plastic, and remediating all legacy dumpsites;
  • To sustain the ODF status and prevent slippage, there is a need to ensure that all fecal sludge and waste(used) water are safely contained, transported, processed and disposed off, so that no untreated fecal sludge or used water pollutes the ground or water bodies;
  • Intensified focus is required to be given to IEC and behavior change through citizen outreach and jan andolan, as well as capacity building and skilling of all relevant stakeholders, towards achieving the Mission’s objectives.

News 4: T.N. raises concern over presence of Chinese troops in Sri Lanka


Background:

  • Tamil Nadu has flagged serious security concerns over the increased presence of the People’s Liberation Army (PLA) of China in Sri Lanka. An alert issued by the State’s intelligence agency a few days ago said the activities of the Chinese in the neighbouring country is a concern to national security and called for intensified vigil along the coastline.
  • The movement of PLA cadre and the deployment of hi-tech gadgets such as satellites, drones and other communication equipment in northern Sri Lanka required constant surveillance in coastal districts, the advisory sent to all cities and districts in the State said.
  • Citing sources, the alert claimed that the PLA had deployed sophisticated gadgets in the garb of launching sea cucumber farming.

Clandestine entry

  • The security advisory comes days after an alert was issued by the same agency warning that Chinese nationals had clandestinely entered India through the sea route with the assistance of cadre belonging to a Sri Lanka-based political party.
  • The Tamil Nadu Coastal Security Group had also, citing a Central intelligence agency, issued an alert on the Chinese ship used to monitor satellites, rockets and inter-continental missile launches of China docked at Hambantota Port, and called for adequate security arrangements in view of vital installations such as and seaports along the Tamil Nadu coast.
  • Security agencies in Tamil Nadu say there is an urgent need for the Union government to activate the Phase-III funding of the Coastal Security Scheme.

Coastal Security Scheme:

  • Ministry: Ministry of Home Affairs
  • Aim: To strengthen security of coastal areas against sea borne threats. It also envisages to augment the capabilities of police force of coastal states/UTs. This is being done in phases.
  • India has a coastline of 7516.6 km bordering the mainland and the islands with Bay of Bengal in the east, Arabian Sea in the west and Indian ocean on the south.
  • Indian Navy has been designated as the authority responsible for overall maritime security, which includes coastal security and offshore security. Indian Navy is assisted by Indian Coast Guard, Coastal Police and other Central and State agencies.
  • Indian Coast Guard is additionally responsible for coastal security in territorial waters including areas to be patrolled by coastal police.

News 5: Understanding the Global Hunger Index


Background:

  • For the second time in two years, the Ministry of Women and Child Development on Saturday rejected the Global Hunger Index (GHI) that ranked India 107 among 121 countries.
  • India was accorded a score of 29.1 out of 100 (with 0 representing no hunger), placing it behind Sri Lanka (66), Myanmar (71), Nepal (81) and Bangladesh (84). It referred to the index as “an erroneous measure of hunger”.

What is the Global Hunger Index?

  • The GHI, is a peer-reviewed annual report that endeavours to “comprehensively measure and track hunger at the global, regional, and country levels”. Authors of the report primarily refer to the United Nations’ Sustainable Development Goal 2 (SDG 2) that endeavours to achieve ‘Zero Hunger’ by 2030. According to them, the report attempts to “raise awareness and understanding of the struggle against hunger”.
  • The GHI score is computed using four broad indicators — undernourishment (measure of the proportion of the population facing chronic deficiency of dietary energy intake), child stunting (low height for age), child wasting (low weight for height) and child mortality (death of a child under the age of five).

Why these four metrics?

  • Undernourishment, as per the authors, provides a basis to measure inadequate access to food and is among the lead indicators for international hunger targets, including the UN SDG 2. Child stunting and mortality, offers perspective about the child’s vulnerability to nutritional deficiencies, access to food and quality of nutrition.
  • Since children (especially below five) are at a developmental age there is a greater and urgent requirement for nutrition with results particularly visible. This forms the basis of assessing nutritional requirement among children.
  • Adults are at a sustainable age — they are not growing but rather subsisting on nutrition for healthy survival. And lastly, on the same rationale, child mortality indicates the serious consequences of hunger.

What allegations are we looking at?

  • As per the Ministry for Women and Child Development, the report lowers India’s rank based on the estimates of the Proportion of Undernourished (PoU) population. It elaborates that the U.S. Food and Agriculture Organisation (FAO) estimate is based on the ‘Food Insecurity Experience Scale (FIES)’ survey module conducted using the Gallup World Poll, that bears a sample size of 3,000 respondents being asked eight questions.
  • It stated that the data represented a miniscule proportion for a country of India’s size. It countered the assertions in the report pointing to India’s per capita dietary energy supply increasing year-on-year due to enhanced production of major agricultural commodities in the country over the years.
  • The GHI website provides important clarifications on these points raised by the government. It explains that while FAO uses a suite of indicators on food security, including two important indicators — prevalence of undernourishment and prevalence of moderate or severe food insecurity based on FIES — the GHI only uses the PoU obtained through food balance sheets based on data reported by member countries, including India.
  • A food balance sheet provides a comprehensive picture of the pattern of a country’s food supply during a specified reference period. It lists down the source of the supply and its utilisation specific to each food category.

Why the controversy?

  • According to the Ministry, the report is not only disconnected from ground reality but also chooses to ignore the food security efforts of the Central government especially during the pandemic.
  • The Union Cabinet through the Pradhan Mantri Garib Kalyan Ann Yojna (PM-GKAY), provisioned an additional 5 kg ration per person each month in addition to their normal quota of foodgrains. According to Professor of Economics at the Ambedkar University, Dipa Sinha, the schemes definitely helped ease the situation but fell short of being adequate.

News 6: Tax on windfall profit on crude oil, export of diesel, ATF raised


Background:

  • The government on Saturday raised the windfall tax on domestically-produced crude oil by more than a third while doubling the rate on export of diesel and reintroducing the levy on export of jet fuel (ATF) in line with the rise in international oil prices.

What is windfall profit tax?

  • A windfall tax is a higher tax rate levied by governments against certain industries when economic conditions allow those industries to experience above-average profits.
  • So when any industry, in this case-oil and gas- benefits from an event or a one-off external situation ( the Russia-Ukraine war) that they were not responsible for and make sudden profits, these profits are taxed separately, over and above the normal taxes that these companies pay to the governments.

News 7:  Centre considering Sri Lanka’s proposal to translocate gaurs


Background:

  • Close on the heels of the project that translocated cheetahs from Namibia, the Indian government is considering a proposal from Colombo to export a number of gaurs, or Indian bisons, to Sri Lanka to revive the population of gavaras that have been extinct in the island since the end of the 17th century.
  • If the project is cleared, it would be the first such agreement between India and Sri Lanka, and part of a global trend of “wildlife or zoological diplomacy”, say experts.

Wildlife or Zoological diplomacy:

  • Experts say that while “zoological diplomacy” had been practiced worldwide, they draw a distinction between “gifts or loans” of animals in captivity to translocation and reintroduction of a species, particularly between neighbouring countries with similar eco-systems.
  • “Much depends on whether the conditions that caused the extinction have been removed but reintroduction has frequently been taken up between countries where the range is contiguous,” explained Mahesh Rangaran, Professor of Environmental Studies at Ashoka University

Indian Bison (Gaur):

  • IUCN status: Endangered
  • Protected under Schedule I of Wildlife Protection Authority Act, 1972
  • Distribution: Native to South and South East Asia
  • Nowadays, this animal is kept well – protected in some of the famous national parks of India like Nagarhole, Bandipur, Kabini, Masinagudi and BR Hills.
  • The Indian Bison of Gaur which is the largest and the tallest in the family of wild cattle, even bigger than water buffalo and bison.

News 8: U.S.-India Trade Policy Forum set for Nov. 8, modest outcomes likely


Background:

  • The U.S.- India Trade Policy Forum (TPF) has been scheduled for November 8 in Washington DC, The Hindu has confirmed. U.S. trade officials are arriving in New Delhi next week to finalise issues for discussion, an Indian government official told The Hindu.  

Trade Policy Forum:

  • The 12th TPF was held in New Delhi in November 2021, after a hiatus of four years, delivering some gains over the past twelve months, such as the resumption of sales of Indian mangoes and pomegranate arils to the U.S. following the pandemic, and the appearance of U.S. cherries on the Indian market.
  • For India, many of the historical requests on services are met with responses from USTR that point to other wings of U.S. government, such as the Congress, or to other agencies and departments,  having ownership of the issue.
  • For the U.S. side, offering one to one market access for goods has been difficult.
  • “India has great access to the U.S. market,” a U.S. Government (USG) official told The Hindu, pointing to the lower tariffs in the US market.
  • Going into this year’s TPF , they are looking at “a number of products” in the agricultural space as “win wins”.
  • Among these, for the Americans, is the resolution of exports of alfalfa hay to India – an issue that is pending from last year’s TPF, the official said. The U.S. is also keen to supplement India’s ethanol and DDGS ( an animal feed product) production, with its supplies, in light of India’s blending goals under the 2022 National Biofuels Policy.
  • India’s requests have included high skilled worker visa numbers, fees, and recently, visa processing times;  social security portability across countries;  and 232 tariffs (i.e., tariffs imposed during the Trump administration on steel and aluminium) ; the Generalized System of Preferences (GSP), a preferential market access program offered by the U.S. to some developing countries.
  • For now, GSP had been of interest in previous rounds of talks. Former U.S. President Donald Trump , whose approach to trade was largely guided by differentials in overall trade balance, had taken India out of the program  in June 2019.

Generalized System of Preferences:

  • The Generalized System of Preferences (GSP), instituted in 1971 under the aegis of UNCTAD, has contributed over the years to creating an enabling trading environment for developing countries.
  • Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries to developing countries (also known as preference receiving countries or beneficiary countries). It is a preferential arrangement in the sense that it allows concessional low/zero tariff imports from developing countries.
  • The following 15 countries grant GSP preferences: Armenia, Australia, Belarus, Canada, the European Union, Iceland, Japan, Kazakhstan, New Zealand, Norway, the Russian Federation, Switzerland, Turkey, United Kingdom and the United States of America.
  • The objective of UNCTAD’s support on GSP and other preferential arrangements is to help developing countries – particularly LDCs – to increase utilization of GSP and other trade preferences and in turn promote productive capacity development and increased trade.
  • Such support includes raising awareness and enhancing understanding among exporters and government officials in beneficiary countries of the trading opportunities available under the schemes; strengthening understanding of technical and administrative regulations and laws governing preferential market access, particularly rules of origin; and disseminating relevant information for users of GSP and other preferential schemes. Support is also provided to providers of preferences in improving their preferential schemes.

News 9: PM for use of regional languages in legal system to bring ease of justice


Background:

  • People’s faith in constitutional institutions gets strengthened when justice is seen to be delivered, Prime Minister Narendra Modi said on Saturday even as he cited the delay in getting justice as one of the major challenges faced by the people of the country.
  • Mr. Modi stressed that new laws should be written in a clear manner and in regional languages to bring in “ease of justice”, so that even the poor can easily understand them and legal language doesn’t become a barrier for citizens.

Obsolete laws scrapped

  • He also urged the State governments to adopt a humane approach towards undertrial prisoners. The Prime Minister made these remarks while inaugurating the All India Conference of Law Ministers and Law Secretaries’ via video conference.
  • The two-day conference is being held at Ekta Nagar in Kevadia near the ‘Statue of Unity’ in Gujarat and is being attended by Union Law Minister Kiren Rijiju among others.
  • Delivering the inaugural address, Mr. Modi said that people should neither feel the absence of government nor its pressure and that is his government, in the last eight years, has scrapped more than 1,500 obsolete and irrelevant laws that were a relic of British rule and reduced as many as 32,000 compliances for the sake of “innovation and ease of living”.
  • Laying stress on ensuring the ease of justice for the citizen, he said, “Delay in getting justice is one of the major challenges being faced by the people of our country. But our judiciary is seriously working towards resolving this issue. In this Amrit Kaal, we will have to work together to tackle this.”
  • Mr. Modi stated villages have been resorting alternative dispute resolution mechanism for a long time and it can be adopted at State level as well. On the importance of use of regional languages, he said, If law is comprehensible to the common man, it will have a different impact”.

News 10: 6 varieties of neelakurinji identified in Santhanpara region of Western Ghats


As visitors keep pouring in to witness the blooming of neelakurinji on a vast area on the Kallippara hills at Santhanpara in Idukki, Kerala, an expert team has identified six varieties of the plant across the region.

Neelakurinji (Strobilanthes kunthiana):

  • Kurinji or Neelakurinji in Malayalam and Tamil and Gurige in Kannada is a shrub that is found in the shola forests of the Western Ghats in Kerala, Karnataka and Tamil Nadu. The purplish blue flower blossoms only once in 12 years, and gave the Nilgiri Mountains range its name, from the neelam (blue) + giri (mountain).

UPSC prelims question

  1. With reference to Western Ghats, consider the following:
  2. Gujarat, Maharashtra, Goa, Karnataka, Tamil Nadu and Kerala are the six Indian states covered by the Western Ghats.
  3. Western Ghats are also known as Anaimalai hills and cardamom Hills in Kerala.

Which of the statements given above is/are correct?

  1. a) 1 only
  2. b) 2 only
  3. c) Both 1 and 2
  4. d) Neither 1 nor 2

Answer – Option C (They are also known as Sahyadris in Maharashtra, Nilgiri hills in Tamil Nadu and Karnataka )


News 11: DBUs to further augment digital infrastructure, says RBI Governor


Background:

  • Reserve Bank of India (RBI) Governor Shaktikanta Das Sunday said the establishment of digital banking units (DBUs) will further augment the digital infrastructure in the country and improve customer experience in doing banking transactions.
  • Prime Minister Narendra Modi today dedicated 75 DBUs to the nation. Finance Minister Nirmala Sitharaman, in her Union Budget speech for 2022-23, had announced setting up of 75 DBUs in as many districts of the country to commemorate 75 years of India’s independence.

What was the initial announcement?

  • In the Budget for 2022-23, the Finance Minister said: “In recent years, digital banking, digital payments and fintech innovations have grown at a rapid pace in the country.
  • The government is continuously encouraging these sectors to ensure that the benefits of digital banking reach every nook and corner of the country in a consumer-friendly manner.
  • Taking forward this agenda, and to mark 75 years of our independence, it is proposed to set up 75 Digital Banking Units (DBUs) in 75 districts of the country by Scheduled Commercial Banks”.

What are these DBUs?

In April this year, the Reserve Bank of India (RBI) announced the guidelines for DBUs, following the report of a working group of the Indian Banks Association (IBA). 

  • A digital banking unit is a specialised fixed point business unit or hub, housing a certain minimum digital infrastructure for delivering digital banking products and services as well as servicing existing financial products and services digitally in self-service mode at any time.
  • “The establishment of DBUs is a step to further augment the digital infrastructure in the country. This will act as an enabler in the digital ecosystem and will improve customer experience by facilitating seamless banking transactions,” Das said at the virtual launch of these DBUs.
  • These units will augment the efforts to promote financial inclusion by providing banking services in a paperless, efficient, safe and secure environment, he said.

Who will set up these DBUs?

  • DBUs are being set up by commercial banks to ensure that the benefits of digital banking reach every nook and corner of the country. It is a joint initiative of the government, the RBI, the Indian Banks Association and the participating banks.
  • Commercial banks (other than regional rural banks, payment banks and local area banks) with past digital banking experience are permitted to open DBUs in tier 1 to tier 6 centres, unless otherwise specifically restricted, without having the need to take permission from the RBI in each case.

What services will be provided by these units?

  • As per the RBI, each DBU must offer certain minimum digital banking products and services. Such products should be on both liabilities and assets side of the balance sheet of the digital banking segment. Digitally value-added services to conventional products would also qualify as such.
  • The services include saving bank accounts under various schemes, current accounts, fixed deposit and recurring deposit accounts, digital kits for customers, mobile banking, Internet banking, debit cards, credit cards, and mass transit system cardss, digital kits for merchants, UPI QR codes, BHIM Aadhaar and point of sale (PoS).
  • Other services include making applications for and onboarding customers for identified retail, MSME or schematic loans. This may also include end-to-end digital processing of such loans, starting from online application to disbursal and identified government-sponsored schemes that are covered under the national portal.
  • Shaktikanta Das said the products and services in these units will be provided in two modes – self-service and assisted modes – with self-service mode being available round the clock.
  • DBUs will enable customers to have cost effective, convenient access and enhanced digital experience of banking products and services. They will spread digital financial literacy and special emphasis will be given to customer education on cyber security awareness and safeguards.

How will these DBUs compete with fintechs?

  • Currently, fintechs operating as neobanks offer digital banking services but they do so in partnership with non-banking financial companies (NBFCs). Some of the neobanks offering services in India are Jupiter, Fi Money, Niyo, Razorpay X.
  • Compared to conventional banks with online and mobile banking facilities, neobanks or digital banks excel at product innovation and offer far better digital solutions. However, given the arrangement they have currently with NBFCs or scheduled banks to conduct the actual banking part, some in the industry have pegged these digital banks as “glorified digital distribution companies”.

News 13: Indian travellers to Europe can now make payments via UPI, here’s how


Background:

  • Indian travellers to Europe would soon be able to make payments from their Indian bank accounts using the Unified Payments Interface (UPI) with the National Payments Corporation of India’s (NPCI) international arm entering into a pact with payments services operator Worldline.

How will users be able to make payments in Europe using UPI?

  • It will be mandatory for users to have an Indian bank account with an UPI activated on their accounts. The users will also need an app to make UPI payments, like the BHIM app.
  • The service will be available at point-of-sale terminals deployed by Worldline. Alongside UPI, NPCI’s card network RuPay will also be accepted. The UPI will be facilitated by QR code.
  • However, it is noteworthy that the payments made by customers using UPI will be charged in the local currency and not INR. This will attract a currency conversion charge levied by the banks, as it is in the case of card payments.

Does NPCI have other such international arrangements?

  • Earlier this year, NPCI and the UAE-based Mashreq Bank’s NEOPAY entered into a partnership, which allowed tourists and migrants to the UAE with Indian bank accounts to be able to make UPI payments at shops, retail establishments and other merchants in the gulf nation.
  • Additionally, NPCI’s international arm NIPL has several other such arrangements with international financial services providers for its products, including UPI and RuPay cards. Globally, UPI is accepted in Bhutan and Nepal.
  • Further, in Singapore, a project to link UPI with the city-state’s instant payment system PayNow is being undertaken by the RBI and the Monetary Authority of Singapore.

National Payment Corporation of India:

Type: Not for profit company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013)

National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

Objective:

  • Intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems.
  • The Company is focused on bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.

Ten core promoter banks:

  • State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank Limited, HDFC Bank Limited, Citibank N. A. and HSBC.
  • In 2020, new entities regulated by RBI were inducted, consisting of Payment Service Operators, payment banks, Small Finance Banks, etc.
  • The shares were allotted pursuant to issuance of equity shares on private placement basis in compliance to the applicable provisions of the Companies Act, 2013.

Unified Payment Interface (UPI):

  • Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.
  • It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.

Other important news


Dehing Patkai National Park:

  • Assam’s 7th national Park and has has 47 species each of reptiles and mammals, including tiger and clouded leopard.
  • The “last remaining stretches” of the Assam Valley tropical wet evergreen forests have become Assam’s seventh National Park.
  • The 234.26-sq. km Dihing Patkai straddling eastern Assam’s Dibrugarh and Tinsukia districts is a major elephant habitat and 310 species of butterflies have been recorded there. 
  • Dehing Patkai National Park is located in the Dibrugarh and Tinsukia districts of Assam and covers an area of 231.65 km2 rainforest. It is located in the Dehing Patkai Landscape which is a dipterocarp-dominated lowland rainforest.
  • The rainforest stretches for more than 575 km2 (222 sq mi) in the districts of Dibrugarh, Tinsukia and Charaideo. The forest further spreads over in the Tirap and Changlang districts of Arunachal Pradesh. Dehing Patkai National Park harbours the largest stretch of lowland rainforests in India.
  • Dehing Patkai Wildlife Sanctuary was declared as Dehing Patkai Elephant Reserve under Project Elephant.

Hampi:

  • Group of Monuments at Hampi, is a UNESCO World Heritage Site located in Hampi town, Vijayanagara district, east-central Karnataka. Hampi was the capital of the Vijayanagara Empire in the 14th century. It was a fortified city.
  • The austere, grandiose site of Hampi was the last capital of the last great Hindu Kingdom of Vijayanagar. Its fabulously rich princes built Dravidian temples and palaces which won the admiration of travellers between the 14th and 16th centuries.
  • Conquered by the Deccan Muslim confederacy in 1565, the city was pillaged over a period of six months before being abandoned.
  • Dravidian architecture flourished under the Vijayanagara Empire and its ultimate form is characterised by their massive dimensions, cloistered enclosures, and lofty towers over the entrances encased by decorated pillars.
  • The Vitthla temple is the most exquisitely ornate structure on the site and represents the culmination of Vijayanagara temple architecture. It is a fully developed temple with associated buildings like Kalyana Mandapa and Utsava Mandapa within a cloistered enclosure pierced with three entrance Gopurams.
  • Among these, the Krishna temple complex, Narasimha, Ganesa, Hemakuta group of temples, Achyutaraya temple complex, Vitthala temple complex, Pattabhirama temple complex, Lotus Mahal complex, can be highlighted. 

Khajuraho Group of Monuments:

  • Khajuraho is a city, near Chhatarpur in Chhatarpur district of the Indian state of Madhya Pradesh. he Khajuraho Group of Monuments has been listed as a UNESCO World Heritage Site since 1986 and is considered one of the “seven wonders” of India. The town’s name, anciently “Kharjuravahaka”, is derived from the Sanskrit word kharjur meaning “date palm“.
  • The temples at Khajuraho were built during the Chandella dynasty, which reached its apogee between 950 and 1050. Only about 20 temples remain; they fall into three distinct groups and belong to two different religions – Hinduism and Jainism.
  • They strike a perfect balance between architecture and sculpture. The Temple of Kandariya is decorated with a profusion of sculptures that are among the greatest masterpieces of Indian art.
  • The temples of Khajuraho are known for the harmonious integration of sculptures with their architecture. All surfaces are profusely carved with anthropomorphic and non-anthropomorphic motifs depicting sacred and secular themes. 

 

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    Ovett waved to the crowd and raised a hand in triumph. But he had celebrated a bit too early. At the finishing line, Ireland’s John Treacy edged past Ovett. For those few moments, Ovett had lost his sense of reality and ignored the possibility of a negative event.

    This analogy works well for the India story and our policy failures , including during the ongoing covid pandemic. While we have never been as well prepared or had significant successes in terms of growth stability as Ovett did in his illustrious running career, we tend to celebrate too early. Indeed, we have done so many times before.

    It is as if we’re convinced that India is destined for greater heights, come what may, and so we never run through the finish line. Do we and our policymakers suffer from a collective optimism bias, which, as the Nobel Prize winner Daniel Kahneman once wrote, “may well be the most significant of the cognitive biases”? The optimism bias arises from mistaken beliefs which form expectations that are better than the reality. It makes us underestimate chances of a negative outcome and ignore warnings repeatedly.

    The Indian economy had a dream run for five years from 2003-04 to 2007-08, with an average annual growth rate of around 9%. Many believed that India was on its way to clocking consistent double-digit growth and comparisons with China were rife. It was conveniently overlooked that this output expansion had come mainly came from a few sectors: automobiles, telecom and business services.

    Indians were made to believe that we could sprint without high-quality education, healthcare, infrastructure or banking sectors, which form the backbone of any stable economy. The plan was to build them as we went along, but then in the euphoria of short-term success, it got lost.

    India’s exports of goods grew from $20 billion in 1990-91 to over $310 billion in 2019-20. Looking at these absolute figures it would seem as if India has arrived on the world stage. However, India’s share of global trade has moved up only marginally. Even now, the country accounts for less than 2% of the world’s goods exports.

    More importantly, hidden behind this performance was the role played by one sector that should have never made it to India’s list of exports—refined petroleum. The share of refined petroleum exports in India’s goods exports increased from 1.4% in 1996-97 to over 18% in 2011-12.

    An import-intensive sector with low labour intensity, exports of refined petroleum zoomed because of the then policy regime of a retail price ceiling on petroleum products in the domestic market. While we have done well in the export of services, our share is still less than 4% of world exports.

    India seemed to emerge from the 2008 global financial crisis relatively unscathed. But, a temporary demand push had played a role in the revival—the incomes of many households, both rural and urban, had shot up. Fiscal stimulus to the rural economy and implementation of the Sixth Pay Commission scales had led to the salaries of around 20% of organized-sector employees jumping up. We celebrated, but once again, neither did we resolve the crisis brewing elsewhere in India’s banking sector, nor did we improve our capacity for healthcare or quality education.

    Employment saw little economy-wide growth in our boom years. Manufacturing jobs, if anything, shrank. But we continued to celebrate. Youth flocked to low-productivity service-sector jobs, such as those in hotels and restaurants, security and other services. The dependence on such jobs on one hand and high-skilled services on the other was bound to make Indian society more unequal.

    And then, there is agriculture, an elephant in the room. If and when farm-sector reforms get implemented, celebrations would once again be premature. The vast majority of India’s farmers have small plots of land, and though these farms are at least as productive as larger ones, net absolute incomes from small plots can only be meagre.

    A further rise in farm productivity and consequent increase in supply, if not matched by a demand rise, especially with access to export markets, would result in downward pressure on market prices for farm produce and a further decline in the net incomes of small farmers.

    We should learn from what John Treacy did right. He didn’t give up, and pushed for the finish line like it was his only chance at winning. Treacy had years of long-distance practice. The same goes for our economy. A long grind is required to build up its base before we can win and celebrate. And Ovett did not blame anyone for his loss. We play the blame game. Everyone else, right from China and the US to ‘greedy corporates’, seems to be responsible for our failures.

    We have lowered absolute poverty levels and had technology-based successes like Aadhaar and digital access to public services. But there are no short cuts to good quality and adequate healthcare and education services. We must remain optimistic but stay firmly away from the optimism bias.

    In the end, it is not about how we start, but how we finish. The disastrous second wave of covid and our inability to manage it is a ghastly reminder of this fact.


  • On March 31, the World Economic Forum (WEF) released its annual Gender Gap Report 2021. The Global Gender Gap report is an annual report released by the WEF. The gender gap is the difference between women and men as reflected in social, political, intellectual, cultural, or economic attainments or attitudes. The gap between men and women across health, education, politics, and economics widened for the first time since records began in 2006.

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    No need to remember all the data, only pick out few important ones to use in your answers.

    The Global gender gap index aims to measure this gap in four key areas : health, education, economics, and politics. It surveys economies to measure gender disparity by collating and analyzing data that fall under four indices : economic participation and opportunity, educational attainment, health and survival, and political empowerment.

    The 2021 Global Gender Gap Index benchmarks 156 countries on their progress towards gender parity. The index aims to serve as a compass to track progress on relative gaps between women and men in health, education, economy, and politics.

    Although no country has achieved full gender parity, the top two countries (Iceland and Finland) have closed at least 85% of their gap, and the remaining seven countries (Lithuania, Namibia, New Zealand, Norway, Sweden, Rwanda, and Ireland) have closed at least 80% of their gap. Geographically, the global top 10 continues to be dominated by Nordic countries, with —Iceland, Norway, Finland, and Sweden—in the top five.

    The top 10 is completed by one country from Asia Pacific (New Zealand 4th), two Sub-Saharan countries (Namibia, 6th and Rwanda, 7th, one country from Eastern Europe (the new entrant to the top 10, Lithuania, 8th), and another two Western European countries (Ireland, 9th, and Switzerland, 10th, another country in the top-10 for the first time).There is a relatively equitable distribution of available income, resources, and opportunities for men and women in these countries. The tremendous gender gaps are identified primarily in the Middle East, Africa, and South Asia.

    Here, we can discuss the overall global gender gap scores across the index’s four main components : Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment.

    The indicators of the four main components are

    (1) Economic Participation and Opportunity:
    o Labour force participation rate,
    o wage equality for similar work,
    o estimated earned income,
    o Legislators, senior officials, and managers,
    o Professional and technical workers.

    (2) Educational Attainment:
    o Literacy rate (%)
    o Enrollment in primary education (%)
    o Enrollment in secondary education (%)
    o Enrollment in tertiary education (%).

    (3) Health and Survival:
    o Sex ratio at birth (%)
    o Healthy life expectancy (years).

    (4) Political Empowerment:
    o Women in Parliament (%)
    o Women in Ministerial positions (%)
    o Years with a female head of State (last 50 years)
    o The share of tenure years.

    The objective is to shed light on which factors are driving the overall average decline in the global gender gap score. The analysis results show that this year’s decline is mainly caused by a reversal in performance on the Political Empowerment gap.

    Global Trends and Outcomes:

    – Globally, this year, i.e., 2021, the average distance completed to gender parity gap is 68% (This means that the remaining gender gap to close stands at 32%) a step back compared to 2020 (-0.6 percentage points). These figures are mainly driven by a decline in the performance of large countries. On its current trajectory, it will now take 135.6 years to close the gender gap worldwide.

    – The gender gap in Political Empowerment remains the largest of the four gaps tracked, with only 22% closed to date, having further widened since the 2020 edition of the report by 2.4 percentage points. Across the 156 countries covered by the index, women represent only 26.1% of some 35,500 Parliament seats and 22.6% of over 3,400 Ministers worldwide. In 81 countries, there has never been a woman head of State as of January 15, 2021. At the current rate of progress, the World Economic Forum estimates that it will take 145.5 years to attain gender parity in politics.

    – The gender gap in Economic Participation and Opportunity remains the second-largest of the four key gaps tracked by the index. According to this year’s index results, 58% of this gap has been closed so far. The gap has seen marginal improvement since the 2020 edition of the report, and as a result, we estimate that it will take another 267.6 years to close.

    – Gender gaps in Educational Attainment and Health and Survival are nearly closed. In Educational Attainment, 95% of this gender gap has been closed globally, with 37 countries already attaining gender parity. However, the ‘last mile’ of progress is proceeding slowly. The index estimates that it will take another 14.2 years to close this gap on its current trajectory completely.

    In Health and Survival, 96% of this gender gap has been closed, registering a marginal decline since last year (not due to COVID-19), and the time to close this gap remains undefined. For both education and health, while progress is higher than economy and politics in the global data, there are important future implications of disruptions due to the pandemic and continued variations in quality across income, geography, race, and ethnicity.

    India-Specific Findings:

    India had slipped 28 spots to rank 140 out of the 156 countries covered. The pandemic causing a disproportionate impact on women jeopardizes rolling back the little progress made in the last decades-forcing more women to drop off the workforce and leaving them vulnerable to domestic violence.

    India’s poor performance on the Global Gender Gap report card hints at a serious wake-up call and learning lessons from the Nordic region for the Government and policy makers.

    Within the 156 countries covered, women hold only 26 percent of Parliamentary seats and 22 percent of Ministerial positions. India, in some ways, reflects this widening gap, where the number of Ministers declined from 23.1 percent in 2019 to 9.1 percent in 2021. The number of women in Parliament stands low at 14.4 percent. In India, the gender gap has widened to 62.5 %, down from 66.8% the previous year.

    It is mainly due to women’s inadequate representation in politics, technical and leadership roles, a decrease in women’s labor force participation rate, poor healthcare, lagging female to male literacy ratio, and income inequality.

    The gap is the widest on the political empowerment dimension, with economic participation and opportunity being next in line. However, the gap on educational attainment and health and survival has been practically bridged.

    India is the third-worst performer among South Asian countries, with Pakistan and Afghanistan trailing and Bangladesh being at the top. The report states that the country fared the worst in political empowerment, regressing from 23.9% to 9.1%.

    Its ranking on the health and survival dimension is among the five worst performers. The economic participation and opportunity gap saw a decline of 3% compared to 2020, while India’s educational attainment front is in the 114th position.

    India has deteriorated to 51st place from 18th place in 2020 on political empowerment. Still, it has slipped to 155th position from 150th position in 2020 on health and survival, 151st place in economic participation and opportunity from 149th place, and 114th place for educational attainment from 112th.

    In 2020 reports, among the 153 countries studied, India is the only country where the economic gender gap of 64.6% is larger than the political gender gap of 58.9%. In 2021 report, among the 156 countries, the economic gender gap of India is 67.4%, 3.8% gender gap in education, 6.3% gap in health and survival, and 72.4% gender gap in political empowerment. In health and survival, the gender gap of the sex ratio at birth is above 9.1%, and healthy life expectancy is almost the same.

    Discrimination against women has also been reflected in Health and Survival subindex statistics. With 93.7% of this gap closed to date, India ranks among the bottom five countries in this subindex. The wide sex ratio at birth gaps is due to the high incidence of gender-based sex-selective practices. Besides, more than one in four women has faced intimate violence in her lifetime.The gender gap in the literacy rate is above 20.1%.

    Yet, gender gaps persist in literacy : one-third of women are illiterate (34.2%) than 17.6% of men. In political empowerment, globally, women in Parliament is at 128th position and gender gap of 83.2%, and 90% gap in a Ministerial position. The gap in wages equality for similar work is above 51.8%. On health and survival, four large countries Pakistan, India, Vietnam, and China, fare poorly, with millions of women there not getting the same access to health as men.

    The pandemic has only slowed down in its tracks the progress India was making towards achieving gender parity. The country urgently needs to focus on “health and survival,” which points towards a skewed sex ratio because of the high incidence of gender-based sex-selective practices and women’s economic participation. Women’s labour force participation rate and the share of women in technical roles declined in 2020, reducing the estimated earned income of women, one-fifth of men.

    Learning from the Nordic region, noteworthy participation of women in politics, institutions, and public life is the catalyst for transformational change. Women need to be equal participants in the labour force to pioneer the societal changes the world needs in this integral period of transition.

    Every effort must be directed towards achieving gender parallelism by facilitating women in leadership and decision-making positions. Social protection programmes should be gender-responsive and account for the differential needs of women and girls. Research and scientific literature also provide unequivocal evidence that countries led by women are dealing with the pandemic more effectively than many others.

    Gendered inequality, thereby, is a global concern. India should focus on targeted policies and earmarked public and private investments in care and equalized access. Women are not ready to wait for another century for equality. It’s time India accelerates its efforts and fight for an inclusive, equal, global recovery.

    India will not fully develop unless both women and men are equally supported to reach their full potential. There are risks, violations, and vulnerabilities women face just because they are women. Most of these risks are directly linked to women’s economic, political, social, and cultural disadvantages in their daily lives. It becomes acute during crises and disasters.

    With the prevalence of gender discrimination, and social norms and practices, women become exposed to the possibility of child marriage, teenage pregnancy, child domestic work, poor education and health, sexual abuse, exploitation, and violence. Many of these manifestations will not change unless women are valued more.


    2021 WEF Global Gender Gap report, which confirmed its 2016 finding of a decline in worldwide progress towards gender parity.

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    Over 2.8 billion women are legally restricted from having the same choice of jobs as men. As many as 104 countries still have laws preventing women from working in specific jobs, 59 countries have no laws on sexual harassment in the workplace, and it is astonishing that a handful of countries still allow husbands to legally stop their wives from working.

    Globally, women’s participation in the labour force is estimated at 63% (as against 94% of men who participate), but India’s is at a dismal 25% or so currently. Most women are in informal and vulnerable employment—domestic help, agriculture, etc—and are always paid less than men.

    Recent reports from Assam suggest that women workers in plantations are paid much less than men and never promoted to supervisory roles. The gender wage gap is about 24% globally, and women have lost far more jobs than men during lockdowns.

    The problem of gender disparity is compounded by hurdles put up by governments, society and businesses: unequal access to social security schemes, banking services, education, digital services and so on, even as a glass ceiling has kept leadership roles out of women’s reach.

    Yes, many governments and businesses had been working on parity before the pandemic struck. But the global gender gap, defined by differences reflected in the social, political, intellectual, cultural and economic attainments or attitudes of men and women, will not narrow in the near future without all major stakeholders working together on a clear agenda—that of economic growth by inclusion.

    The WEF report estimates 135 years to close the gap at our current rate of progress based on four pillars: educational attainment, health, economic participation and political empowerment.

    India has slipped from rank 112 to 140 in a single year, confirming how hard women were hit by the pandemic. Pakistan and Afghanistan are the only two Asian countries that fared worse.

    Here are a few things we must do:

    One, frame policies for equal-opportunity employment. Use technology and artificial intelligence to eliminate biases of gender, caste, etc, and select candidates at all levels on merit. Numerous surveys indicate that women in general have a better chance of landing jobs if their gender is not known to recruiters.

    Two, foster a culture of gender sensitivity. Take a review of current policies and move from gender-neutral to gender-sensitive. Encourage and insist on diversity and inclusion at all levels, and promote more women internally to leadership roles. Demolish silos to let women grab potential opportunities in hitherto male-dominant roles. Work-from-home has taught us how efficiently women can manage flex-timings and productivity.

    Three, deploy corporate social responsibility (CSR) funds for the education and skilling of women and girls at the bottom of the pyramid. CSR allocations to toilet building, the PM-Cares fund and firms’ own trusts could be re-channelled for this.

    Four, get more women into research and development (R&D) roles. A study of over 4,000 companies found that more women in R&D jobs resulted in radical innovation. It appears women score far higher than men in championing change. If you seek growth from affordable products and services for low-income groups, women often have the best ideas.

    Five, break barriers to allow progress. Cultural and structural issues must be fixed. Unconscious biases and discrimination are rampant even in highly-esteemed organizations. Establish fair and transparent human resource policies.

    Six, get involved in local communities to engage them. As Michael Porter said, it is not possible for businesses to sustain long-term shareholder value without ensuring the welfare of the communities they exist in. It is in the best interest of enterprises to engage with local communities to understand and work towards lowering cultural and other barriers in society. It will also help connect with potential customers, employees and special interest groups driving the gender-equity agenda and achieve better diversity.