Daily Current Affairs : 10-Jan-2020
Major Topic Covered :
PRAVASI BHARTIYA DIWAS
CRIMES AGAINST WOMEN
POLITICAL MURDERS
MADHAVPUR MELA
WORLD HINDI DAY
NORTH-EAST GAS GRID PROJECT
RESIDENTIAL BUILDER FINANCE WITH BUYER GUARANTEE
‘MARKET STUDY ON E-COMMERCE IN INDIA: KEY FINDINGS AND OBSERVATIONS’
RBI INTRODUCES VIDEO-BASED IDENTIFICATION PROCESS FOR KYC
PRAVASI BHARTIYA DIWAS
Part of GS- 1 A&C
Why in news? Indian embassies in different countries celebrated Pravasi Bhartiya Diwas yesterday. In Bangladesh, a large number of expatriate Indians participated in the programme organized by High Commission of India in Dhaka.
Highlights:
• Addressing the gathering, High Commissioner Riva Ganguly Das said that the government attaches high priority to provide services to the diaspora community living in various countries.
• Pravasi Bharatiya Divas (PBD) is celebrated on 9th January every year to mark the contribution of Overseas Indian community in the development of India.
• January 9 was chosen as the day to celebrate this occasion since it was on this day in 1915 that Mahatma Gandhi returned to India from South Africa, led India’s freedom struggle and changed the lives of Indians forever.
• Pravasi Bharatiya Divas (PBD) Convention is celebrated once in every two years to strengthen the engagement of the overseas Indian community with the Government of India and reconnect them with their roots.
• During the Convention, selected overseas Indians are also honored with the prestigious Pravasi Bharatiya Samman Award to recognize their contributions to various fields both in India and abroad.
• Riva Ganguly called upon the Indian diaspora community in Bangladesh to register with the High Commission so that services can be provided smoothly when need arises. She called upon the Indian community in Bangladesh to take active part in the activities organized by the High Commission in Bangladesh.The address was followed by a live video session with 8 foreign missions of India spread over all the continents which was addressed by the External Affairs Minister Dr. S. Jaishankar.
Source: AIR
CRIMES AGAINST WOMEN
Part of GS- 1 Social Issues
Why in news?
The National Crime Records Bureau (NCRB) published the annual Crime in India Report 2018 on 8th January, 2020. It was published with provisional data, as five States — West Bengal, Assam, Arunachal Pradesh, Meghalaya and Sikkim — did not send clarifications sought by the NCRB despite repeated reminders.
Highlights:
• According to the report 3,78,277 cases of crime against women were reported in the country, up from 3,59,849 in 2017.
• Uttar Pradesh topped the list with 59,445 cases, followed by Maharashtra (35,497) and West Bengal (30,394).
• A total of 50,74,634 cognisable crimes — 31,32,954 Indian Penal Code (IPC) crimes and 19,41,680 Special & Local Laws (SLL) crimes — were registered in 2018, showing an increase of 1.3% in registration of cases compared to 2017 (50,07,044 cases).
• The crime rate per lakh population, however, came down from 388.6 in 2017 to 383.5 in 2018.
• The conviction rate in rape-related cases stood at 27.2% even though the rate of filing charge sheets was 85.3% in such cases.
• Cruelty by husband or his relatives (31.9%) followed by assault on women with intent to outrage her modesty (27.6%) constituted the major share of crimes against women, the report said.
Source: The Hindu
POLITICAL MURDERS
Part of GS-3 Security
Why in news?
West Bengal reported the maximum number of political murders in 2018, says a report by the National Crime Records Bureau (NCRB).
Highlights:
• The number of murders due to “political reason” in West Bengal stood at 12, followed by 9 in Bihar and 7 in Maharashtra.
• In all, 54 political murders were reported in the country in 2018. In 2017, the number of such cases stood at 98.
Source: The Hindu
MADHAVPUR MELA
Part of GS- 1 A&C
Why in news? The eight States of the Northern Eastern Region will participate in a big way during the Madhavpur Mela of Gujarat due to be held in the first week of April this year.
Highlights:
• The annual fair is held at Madhavpur Ghed in Porbandar district and the Mela this year will commence on 2nd April, a day after the Ram Navami festival.
• Madhavpur Ghed, a small but culturally significant village, is the place where, according to folklore, Lord Krishna married Rukmini, the daughter of King Bhishmaka. Madhavpur lies on the seashore, close to Porbandar.
• A 15th century Madhavrai temple marks the site.
• This event is commemorated by a cultural fair held every year, commencing on Ram Navami.
• A colourful chariot carrying the idol of Lord Krishna circumnavigates the village and the festivities usually continue for five days.
• The Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh chaired a high level meeting with senior officials of the Gujarat Government here today to review preparations for the mega festival. Secretary, North Eastern Council (NEC), Shri Moses Chalai and senior officers of NEC, besides Resident Commissioners/representatives of Arunachal Pradesh, Assam and Manipur also participated.
Source: PIB
WORLD HINDI DAY
Part of GS-1 A&C
Why in news?
Today 10th January is World Hindi Day. The day is commemorated every year with the objective to promote use of Hindi language abroad.
Highlights:
• On this day in 2006, the First World Hindi Conference was organized in Nagpur to promote the language worldwide. Since then 10th January is being observed as World Hindi Day.
• Ministry of External Affairs and Indian Missions abroad are observing the day annually. World Hindi Day
• The first World Hindi Conference was held in Nagpur on January 10, 1975, where 122 delegates from 30 countries participated in the program.
• Hindi is the fifth most spoken language among the total languages spoken in the world.
• Hindi is spoken in many countries including Pakistan, Nepal, Bangladesh, USA, UK, Germany, New Zealand, United Arab Emirates, Uganda, Guyana, Suriname, Trinidad, Mauritius, and South Africa.
• Former Prime Minister Dr. Manmohan Singh announced to celebrate World Hindi Day on January 10 every year in 2006.
Source: AIR
NORTH-EAST GAS GRID PROJECT
Part of GS-3 Economy
Why in news? The Cabinet Committee on Economic Affairs has approved a Capital Grant as the Viability Gap Funding to Indradhanush Gas Grid Ltd for setting up the North East Natural Gas Pipeline Grid.
Highlights:
• The proposed gas pipeline grid will connect Guwahati to the major Northeast cities and major load centers. It is 1, 656 km long.
• Implementation: The North-East pipeline grid is to be implemented by Indradhanush Gas Grid, a joint venture of state-owned GAIL India, Indian Oil Corp (IOC), Oil and Natural Gas Corp (ONGC), Oil India Ltd (OIL) and Numaligarh Refinery Ltd (NRL).
• The project is being implemented under ambitious Urja Ganga Gas Pipeline Project.
1. Besides connecting all the state capitals in the region, the pipeline will also connect with the National Gas Grid through Barauni-Guwahati Gas Pipeline, which is being laid by GAIL.
2. The pipeline will enable the supply of piped cooking gas to households and CNG to automobiles, besides fuel to industry.
Source: The Hindu
RESIDENTIAL BUILDER FINANCE WITH BUYER GUARANTEE
Part of GS-3 Economy
Why in news? India’s largest bank, in a statement, said with RBBG, customers will be able to secure their investment in the ongoing home projects financed by the bank. RBBG will focus on affordable housing segment with home prices of up to Rs. 2.50 crore in seven cities initially, it added.
Highlights:
• Under this product, reputed builders fulfilling the prescribed criteria, including Star rating and CIBIL score, can avail loan between Rs. 50 crore to Rs. 400 crore.
• Under RBBG, the guarantee would be given by the bank till the project gets the occupation certificate (OC).
• The guarantee will be available for RERA registered projects and a project will be considered stuck after it crosses the RERA deadline. RERA ACT
• RERA or Real Estate (Regulation and Development) Act, 2016 aims at protecting the home purchasers and also boosts the real estate investments.
The Real Estate (Regulation and Development) Act, 2016 under Section 84 envisions that within a period of six months from its commencement date, State Governments will set the rules to carry out the provisions associated with the Act.
• On 31 October 2016, the centre, through HUPA (Housing & Urban Poverty Alleviation) Ministry, released the general rules of the Real Estate (Regulation and Development) Act, 2016. Some Points Under Real Estate Regulation and Development (RERA)
• Transparency: Builders are supposed to submit the original documents for all projects they undertake. Builders are not supposed to make any changes to the plans without the consent of the buyer.
• Fairness: RERA has now instructed developers to sell properties based on carpet area and not super built up area. In the event that the project has been delayed, buyers are entitled to get back the entire money invested or they can choose to be invested and receive monthly investment on their money.
• Security: o Under the RERA act, a minimum of 70% of the buyers’ and investors’ money will be kept in a separate account. o This money will then be allotted to the builders only for construction and land related costs. Developers and builders cannot ask for more than 10% of the property’s cost as an advance payment before the sale agreement is signed.
• Quality: The builder must rectify any issue faced by the buyer within 5 years of purchase. This issue must be rectified within 30 days of the complaint.
• Authorisation: A regulator cannot advertise, sell, build, invest, or book a plot without registering with the regulator. After registration, all the advertisement for investments should bear a unique project wise registration number provided by RERA.
Source: The Hindu
‘MARKET STUDY ON E-COMMERCE IN INDIA: KEY FINDINGS AND OBSERVATIONS’ Part of GS-3 Economy
Why in news?
The Competition Commission of India (CCI) released a Report titled ‘Market Study on E- commerce in India: Key Findings and Observations’ on 8th January.
Highlights:
• Ensuring competition on the merits to harness efficiencies for consumers: Increasing transparency to create incentive for competition and to reduce information asymmetry
• User review and rating mechanism: Adequate transparency over user review and rating mechanisms is necessary for ensuring information symmetry. Reviews for only verified purchases to be published and mechanisms to be devised to prevent fraudulent reviews/ratings.
• Revision in contract terms: Notify the business users concerned of any proposed changes in terms and conditions.
• Discount policy: Bring out clear and transparent policies on discounts, including inter alia the basis of discount rates funded by platforms for different products/suppliers and the implications of participation/non-participation in discount schemes.
• Fostering sustainable business relationships between all stakeholders: The report enumerates certain areas for self-regulation by the e-commerce marketplace platforms to reduce information asymmetry and promote competition on the merits.
• Search ranking: Set out in the platforms’ terms and conditions a general description of the main search ranking parameters drafted in plain and intelligible language and keeps that description up to date.
• Collection, use and sharing of data: Set out a clear and transparent policy on data that is collected on the platform, the use of such data by the platform and also the potential and actual sharing of such data with third parties or related entities.
Source: PIB
RBI INTRODUCES VIDEO-BASED IDENTIFICATION PROCESS FOR KYC
Part of GS-3 Economy
Why in news?
The RBI on 9th January amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely.
Highlights:
• The V-CIP, which will be consent-based, will make it easier for banks and other regulated entities to adhere to the RBI's Know Your Customer (KYC) norms by leveraging the digital technology.
• With a view to leveraging the digital channels for Customer Identification Process (CIP) by Regulated Entities (REs), the Reserve Bank has decided to permit V-CIP as consent based alternate method of establishing the customer's identity, for customer on boarding.
• The regulated entities will have to ensure that the video recording is stored in a safe and secure manner and bears the date and time stamp. Important points:
• Last year in 2019, the government had notified amendment to the Prevention of Money- laundering (Maintenance of Records) Rules, 2005.
• The Reserve Bank said it decided to permit video based Customer Identification Process (V- CIP) as consent based alternate method of establishing the customer's identity, for customer on boarding with a view to leveraging the digital channels for Customer Identification Process (CIP) by Regulated Entities.
Source: Economics Times
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