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SUCKING UP SURPLUS: SEBI NEEDS
FINANCIAL AUTONOMY TO
REMAIN EFFECTIVE
P-3/ ECO OR P-2/ REGULATOR
Key wordsKey words
• SEBI ACT 1992• SEBI SURPLUS FUNDS• INDEPENDENT AGENCIES
News
• As part of the Finance Bill, the Centre had proposed amendments to the
Securities and Exchange Board of India Act,
1992
• the amendments required that after 25% of • the amendments required that after 25% of its surplus cash in any year is transferred to its
reserve fund, SEBI will have to transfer the
remaining 75% to the government.
• the government rejected the plea from SEBI’s officials
IMPACT
1. A regulatory agency that is at the government’s
mercy to run its financial and administrative
operations cannot be expected to be
independent.
2. Further, the lack of financial autonomy can affect
SEBI’s plans to improve the quality of its SEBI’s plans to improve the quality of its
operations by investing in new technologies and
other requirements to upgrade market
infrastructure.
3. This can affect the health of India’s financial
markets in the long run.
• this is not the first time that the government at the Centre has gone after independent
agencies.
1. The Reserve Bank of India
2. National Sample Survey Office
आरबीआई को यादा
वाय�तता क� वकालत
• �ड�ट� गवनर �वरल आचाय ने कहा �क सरकार� ब�क� क� �नगरानी के �लए
MORE INDEPENDENCE FOR RBI
• Making a strong case for granting more independence to the Reserve Bank of India (RBI), Deputy Governor Viral
सरकार� ब�क� क� �नगरानी के �लए क� ��य ब�क को यादा अ धकार "दए जाने ज$र� ह�।
Governor Viral Acharya said the central bank must have more powers to supervise public sector banks
• आचाय ने कहा है �क जो सरकार क� ��य ब�क क� वतं#ता का स$मान नह�ं करती उसे आगे पीछे %व�तीय बाजार� क� नाराजगी झेलनी
Acharya said the
governments that
did not respect their
central bank's
independence would
sooner or later incur
the wrath of नाराजगी झेलनी पड़ती है।
the wrath of
financial markets
• जो सरकार क� ��य ब�क को वतं*ता से काम करने देती है उसे कम लागत पर उधार� और अंतररा-.�य /नवेशक1 का नेह 2मलता है।
• the governments that invested in central
bank independence
would enjoy lower
costs of borrowing,
the love of
international का नेह 2मलता है। • ऐसी सरकार का काय.काल यादा लंबा होता है।
international
investors, and longer
life spans.
• उ4ह1ने कहा �क 5रजव ब�क क�
वाय�तता बरकरार रखने म� कुछ ऐसे मह88वपूण ;े# ह� जहां लगातार कमजोर� बनी हुई है।
• Yet, a few important pockets of persistent
weakness remain in
maintaining the
independence of the
RBI. कमजोर� बनी हुई है।
Power-sharing agreement,
Sudan's new beginning?
P-2 /INDIA AND WORLD
KEY WORDSKEY WORDS
• ARAB SPRING• SUDAN MAP• OMAR AL-BASHIR’S FALL
• 22-year-old • 22-year-old Alaa Salahhave been at the forefront of Sudan's protests
Sudan's military council and the Forces of
Freedom and Change (FFC) Opposition alliance
initialed a political accord.
NEWS-
• Sudan’s ruling military council and representatives of the pro-democracy movement have signed
a power-sharing agreement, signalling that its
disputed transition to civilian rule is on track.
• Under the deal, a sovereign council of 11 members — five military and five civilian members and one to — five military and five civilian members and one to
be selected based on consensus — will rule for over
three years.
• A general will lead it for the first 21 months and a civilian leader for 18 months. The security
apparatus will be controlled by the military; the
ministries will get civilian leaders.
IMPACT-
1. Charts A New Course
2. Exists Deep Distrust
3. Massacred The Protesters
4. A Balance Between The Military And 4. A Balance Between The Military And
Revolutionaries
5. Framing Of A New Constitution
6. Independent Investigation Into The
June 3 Violence
The tremor of unwelcome amendments to the RTI Act
Aruna Roy and Nikhil Dey are social activists who work with
the Mazdoor Kisan Shakti Sangathan and the National
Campaign for People’s Right to Information
P- 2 / GOVERNANCE
KEY WORDSKEY WORDS
• Right to Information (Amendment) Bill, 2019
• Sections 13, 16, and 27 of the RTI Act• आशीवा.द क� कलम से....
Provisio
nRTI Act, 2005
RTI (Amendment) Bill,
2019
The Chief Information
Commissioner (CIC)
and Information
The Bill removes
this provision and
states that the
Term
and Information
Commissioners (ICs)
(at the central and
state level) will hold
office for a term of
five years.
states that the
central
government will
notify the term of
office for the CIC
and the ICs.
Quantum
The salary of the CIC and ICs (at the central level) will be equivalent to the salary paid to the
The Bill removes these provisions and states that the salaries, allowances, and other terms and conditions of Quantum
of Salarysalary paid to the Chief Election Commissioner and Election Commissioners, respectively.
conditions of service of the central and state CIC and ICs will be determined by the central government.
Quantum
Similarly, the salary of the CIC and ICs (at the state level) will be equivalent to the salary paid to the
determined by the central Quantum
of Salarysalary paid to the Election Commissioners and the Chief Secretary to the state government, respectively.
the central government.
Deductions
The Act states that at the time of the appointment of the CIC and ICs (at the central and state level), if they are receiving pension
The Bill removes these provisions.in Salary or any other retirement
benefits for previous government service, their salaries will be reduced by an amount equal to the pension.
these provisions.
AN ALLY, A PARTNER AND AMERICAN UNILATERALISM: ON THE U.S. RESPONSE TO TURKEY'S
S-400 DEAL WITH RUSSIA
P-2 INDIA AND WORLDP-2 INDIA AND WORLD
KEY WORDS
• S-400• COUNTERING AMERICA’S ADVERSARIES
THROUGH SANCTIONS ACT (CAATSA)
• F-35 JOINT STRIKE FIGHTER PROJECT
Facial recognition is an invasive and inefficient tool
P-3 / INTERNAL SECURITY
KEY WORDS
• Automated Facial Recognition • Automated Facial Recognition System (AFRS)
• assumption of “innocent until proven guilty”
• Fears of mass surveillance