As part of its plan to put universal bank licences ‘on tap’, the Reserve Bank of India has unveiled draft guidelines that could encourage big non-banking financial players to throw their hats in the banking ring. What is ‘on tap mechanism? The central bank has been opening the bank licence window only periodically. Under the… Continue reading RBI for easier bank permits
The Lok Sabha recently approved the Finance Bill 2016 which included an amendment to the RBI Act clipping the central bank governor’s powers to set monetary policy. The amendment made to the RBI Act through the Finance Bill removed the governor’s powers to singularly set monetary policy vesting them in a six-member Monetary Policy Committee.… Continue reading LS clears decks for MPC
Indian Express Context Central and State Governments’ interference in the price mechanism of sugarcane is detrimental to the farmers. Sugarcane Sugarcane is a long duration, high water and high nutrient-demanding crop. It is grown under wide range of climate, ranging from sub-tropical to tropical conditions. Temperatures above 50°C and below 20°C are not suitable for… Continue reading Bitter sweet
Livemint Issue There is a need to develop a system where efficiency of our education system can be measured. Context With Right to Education (RTE) Act and Sarva Shiksha Abhiyan, the goal of ensuring universal primary education has been aggressively pursued, and a significant quantitative impact in terms of the enrolment ratio has been seen.… Continue reading How efficient is Indian education?
The Hindu Context Prevention of Corruption Act (PCA) is set to be amended by Parliament. The proposed Bill includes several contentious amendments that are likely to have far-reaching ramifications. They require considerable deliberation. Prevention of Corruption Act (PCA) PCA is the key legislation which defines what constitutes corruption and prescribes penalties for corruption-related offences. What… Continue reading How not to fight corruption
The Hindu What happened? The government has proposed a law where wrong depiction of the map of India could land the violators in jail with a maximum term of seven years and fine up to Rs. 100 crore. Why this measure has been proposed? This measure has been envisaged by the government against the backdrop… Continue reading Rs.100-cr. fine proposed for wrong India map
The Hindu What happened? In a move that is sure to raise eyebrows in Beijing, four Indian warships will join the navies of the United States and Japan in the second half of June for the next edition of Malabar exercises east of Okinawa, a Japanese island. Exercise Malabar Exercise Malabar is a trilateral naval… Continue reading India, Japan, U.S. to hold naval exercises
The Hindu News In Gobi desert, there exist hundreds of caves, whose intricately painted walls and magnificent statues have described the journey of Buddhism. Geography, and specifically the ancient Silk Road, had indeed played a foundational role Dunhuang was a major point of intersection along the Silk Road, one of whose branch lines headed towards… Continue reading Mogao caves reveal powerful India-China Buddhist link