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06 May 2017 Keywords

 

 

KEYWORDS

6th MAY 2017

1.      Ordinance

  • Temporary laws that are promulgated by the President of India on the recommendation of the Union Cabinet.
  • They can only be issued when Parliament is not in session.
  • Ordinances cease to operate either if Parliament does not approve of them within six weeks of reassembly, or if disapproving resolutions are passed by both Houses.

2.      Scheme for Sustainable Structuring of Stressed Assets (S4A)

  • launched by the Reserve Bank of India (RBI) in June 2016
  • for addressing the large stressed assets of the corporate sector with banks
  • eligible if total loans by all institutional lenders in the account exceed Rs 500 crore
  • The project should have started its commercial operations and there should be cash flows from the project
  • allows lender (bank) to acquire equity of the stressed project
  • loans are divided into sustainable and unsustainable components.
  • scheme allows banks to rework stressed loans under the oversight of an external agency.
  • external independent agency evaluates how much of the debt is ‘sustainable’

3.      Joint Lenders Forum ( JLF)

  • Under the stressed asset norms of RBI that took effect on 1 April 2014, as soon as interest payments on a loan are delayed by 60 days, a JLF comprising all lenders must be put in place
  • within 45 days, the JLF must come up with a Corrective Action Plan (CAP).
  • Under the JLF framework for revitalising distressed assets in the economy, even before a loan account turns into an NPA, the new system helped identify the stress by segregating the accounts into three categories —
  • Special Mention Accounts (SMA)

                            i.           SMA-0 --> if <30 days + sign of incipient stress

                           ii.           SMA-1 --> loan overdue for 31-60 days

                          iii.           SMA-2. --> if >60 days

4.      Nirbhaya gang-rape and murder case

  • Incident of December 2012
  • Supreme Court upheld the Delhi High Court’s verdict of 2013
  • confirmed the death penalty to four convicts
  • One accused committed suicide in Tihar Jail
  • One juvenile sentenced by the Juvenile Justice Board, now free

5.      draft Civil Aviation Requirements on “Handling of unruly or disruptive passengers

6.      Supreme Court directions on children living in orphanages and child care institutions

7.      Commission for Protection of Child Rights Act, 2005

  • National Commission for Protection of Child Rights
  • State Commissions for Protection of Child Rights
  • India has acceded to the Convention on the Rights of the Child (CRC) in 1992

8.      Part IX B of Constitution

  • On “The Co-operative Societies” (Articles 243-ZH to 243-ZT)
  • Added by Ninety Seventh Constitutional Amendment Act, 2011
  • Provisions for incorporation, regulation and winding up of co-operative societies based on the principles of democratic process
  • maximum number of directors on board as twenty-one.
  • reservation of one seat for SC/ST and two seats for women on the board of every co-operative society.
  • fixed term of five years from the date of election in respect of the elected members of the board and its office bearers; maximum time limit of six months during which a board of directors of co-operative society could be kept under suspension; independent professional audit;
  • right of information to the members of the co-operative societies
  • Empowering the State Governments to obtain periodic reports of activities and accounts of co-operative societies
  • Providing for offences relating to co-operative societies and penalties in respect of such offences.

9.      Armed Forces (Special Powers) Act

  • grant special powers to the Indian Armed Forces in "disturbed areas".
  • an officer of the armed forces has powers to:

                    i.           After giving such due warning, Fire upon or use other kinds of force even if it causes death, against the person who is acting against law or order in the disturbed area for the maintenance of public order,

                    ii.          To arrest without a warrant anyone who has committed cognizable offences or is reasonably suspected of having done so

                    iii.         To enter and search any premise without warrant

                    iv.         Stop and search any vehicle or vessel reasonably suspected to be carrying such person or weapons.

  • Any person arrested and taken into custody under this Act shall be made present over to the officer in charge of the nearest police station with least possible delay.
  • Army officers have legal immunity for their actions. There can be no prosecution, suit or any other legal proceeding against anyone acting under that law.
  • Nor is the government's judgment on why an area is found to be disturbed subject to judicial review
  • On July 8, 2016, in a landmark ruling, Supreme Court ended the immunity of the armed forces from prosecution under AFSPA

10.  Special Drawing Rights (SDR)

  • an international reserve asset, created by the IMF in 1969
  • to supplement its member countries’ official reserves.
  • SDRs can be exchanged for freely usable currencies.
  • SDR is neither a currency, nor a claim on the IMF
  • IMF may allocate SDRs to member countries in proportion to their IMF quotas
  • The value of the SDR is based on a basket of five major currencies— US dollar, euro, British pound sterling, Japanese yen and Chinese renminbi (yuan) added in Sept 2016

11.  Disarib

  • Molecule synthesised by Indian researchers from Indian Institute of Science (IISc), Bengaluru
  • Can facilitate targeted killing of cancer cells
  • Disarib works by binding itself to a protein called BCL2, which suppresses the death of cancerous cells
  • Unlike the FDA-approved BCL2 inhibitor ABT199, disarib shows better efficiency in killing cancer cells, also does not cause any side effects. 
  • However, expression of BCL2 is low in certain cancer cell lines such as breast cancer, chronic myelogenous leukemia and cervical cancer. So the Disarib molecule would be ineffective in these cancers.
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