Daily Prelims Newsletter(UPSC)|15 May 2021 | RaghukulCS

Daily Prelims Newsletter For UPSC
| RaghukulCS

15 May 2021

Table Of Contents

Economy
  • Non-Banking Financial Companies (NBFC)
Security 
  • Border Security Force (BSF) 
Governmental Schemes 
  • PM Kisan: 
Places in News
  • Israel 
  • South China Sea 

Economy

Non-Banking Financial Companies (NBFC)

Why in News?

RBI Governor has urged NBFCs to maintain their business resilience and managing risks prudently.

About NBFCs:

  • NBFCs are registered under the Companies Act, 1956.
  • It is engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by GoI or state or local authority or other similar marketable securities.
  • NBFC does not include any institution whose principal business is that of agriculture, industrial nature, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.

Features of NBFCs:

  • NBFCs cannot accept demand deposits;
  • NBFCs do not form part of the payment and settlement system and hence they cannot issue cheques drawn on itself.
  • Deposits made in an NBFC are not covered under Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation.

Security

Border Security Force (BSF)

Why in News?

BSF troops recovered weapons dropped by Pakistani drone in J&K.

About BSF:

  • BSF was raised post 1965 India-Pakistan war.
  • It is one of the Central Armed Police Forces of Union of India.
  • It is under the administrative control of the Ministry of Home Affairs (MHA).
  • It is deployed on:
    • Indo-Pakistan International Border,
    • Indo-Bangladesh International Border,
    • Line of Control (LoC) along with Indian Army, and
    • Anti-Naxal Operations.
  • It also has an air wing, a marine wing, an artillery regiment, and commando units.
  • BSF has been defending theSir Creak in Arabian Sea and Sundarban delta in the Bay of Bengal with its modern fleet of Water Crafts.
  • BSF also plays a key role in helping state administration to maintainLaw and Order and conduct of peaceful elections.
  • For their role, they are referred as “the First Line of Defence of Indian Territories”.

Related Information:

The other Central Armed Police Forces:

  • Central Reserve Police Force (CRPF): Responsible for Internal Security.
  • Assam Rifles: Responsible for guarding India’s land borders with
  • Central Industrial Security Force (CISF): Provides security cover tospace establishments, nuclear installations, seaports, airports, power plants, sensitive Government buildings and even heritage monuments.
  • Indo Tibetan Border Police (ITBP): A specialized mountain force and responsible for guarding Indo-China border.
  • National Security Guard: Acounter terrorism unit which was raised in 1984, following Operation Blue Star.
  • Sashastra Seema Bal (SSB): Earlier called as Special Service Bureau was raised in 1960s. Their objective is to achieve ‘Total security preparedness’ in the remote border areas.

Governmental Schemes

PM Kisan:

Why in News?

8thinstalment of PM-KISAN’s benefits (₹2000) was transferredtp farmers in the country. For the first time Bengal farmers also got this benefit.

About PM Kisan:

  • PM-KISAN is a Central Sector Schemee., has 100% funding from the Government of India.
  • Under Ministry of Agriculture and Farmer’s Welfare.
  • Under this scheme, the Centre transfers an amount of Rs 6,000 per year, in three equal instalments directly into the bank accounts (DBT) of beneficiaries.
  • Beneficiary:Allthelandholding farmersirrespective of the size of their land holdings (there are some exceptions to eligibility as well).
  • It intends to supplement farmers’ income and help in procuring various inputs to ensure proper crop health and appropriate yields.
  • The identification of beneficiary farmer families is done by the State / UT Governments.
  • Similar Income support schemes are also announced by several states like
    • Telangana’s RythuBandhu scheme,
    • Odisha’s Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme

Places in News

Israel

Why in News?

Tensions are escalating across Israel-Palestine border.

About Israel:

  • Neighbouring Countries: Lebanon, Syria, Jordan, and Egypt.
  • Related Information:
    Neighbouring oceans: Mediterranean Sea and the Gulf of Aqaba.

    Key Defence technologies imported by India from Israel are:

    • BARAK missile: The surface-to-air missile is a low-range air defence interceptor. Indian version of BARAK is called BARAK-8.
    • Phalcon Sensors: This airborne warning and control system (AWACS), is hailed as Indian Airforce Force’s “eyes in the skies”.It performs surveillance and intelligence gathering beyond visual range to warn against the incoming missiles or aircrafts in the airspace.

    South China Sea

    Why in News?

    Philippines plans to build military hub in South China Sea with night-capable cameras to oust Chinese vessels from their EEZ.

    About South China Sea:

    • It is an extension of theWestern Pacific Ocean in Southeast Asia.
    • It is connected by Taiwan Strait with the East China Sea and also by Luzon Strait with the Philippine Sea.
    • Bordering states & territories: The People’s Republic of China, Taiwan, Philippines,Brunei, Indonesia, Malaysia, Singapore, and Vietnam.
    • Important islands: Paracel, Spratly, Scarborough Shoal.

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