Daily Prelims Newsletter|20 July 2021|RaghukulCS|UPSC

Daily Prelims Newsletter For UPSC
| RaghukulCS

20 July 2021-Tuesday

Table Of Contents

Economy

  • PCA Framework

Art and Culture

  • Tipu Sultan

Governmental Initiatives

  • Mid-Day Meal Scheme
  • Smart Cities Mission

International Relations

  • International Atomic Energy Agency (IAEA)

Economy

PCA Framework

Why in News?

Post removal from PCA restrictrictions, IDBI bank is looking for avenues to enhance its credit growth.

About PCA (Prompt and Corrective Action) Framework:

  • PCA norms allow RBI to place certain restrictions like halting branch expansion and stopping dividend payment to the shareholders.
  • RBI can even cap a bank’s lending limit and exposure to one entity or sector.
  • Other corrective action that can be imposed on banks include:
    • special audit,
    • restructuring operations, and
    • activation of recovery plan.
    • The RBI can also supersede the bank’s board, under PCA.
  • The PCA is invoked when certain prescribedrisk thresholds are breached based on, asset quality, profitability, capital, etc.
  • Another threshold, is maximum tolerance limit, which sets net NPA at over 12% and negative return on assets for four consecutive years.
  • Banks usual course of action post PCA categorisation:
  • Launch special drives to reduce the stock of NPAs
  • Contain generation of fresh NPAs.
  • Banks are also not allowed to enter into new lines of business.
  • RBI also imposes restrictions on the bank on borrowings from interbank market.

Art and Culture

Tipu Sultan

Why in News?

Mysore King of 18th century Tipu Sultan is at the centre of controversy over attempts to name a garden after him in Mumbai. 

About Tipu Sultan:

  • He was a ruler of the erstwhilekingdom of Mysore and was the eldest son of Sultan Hyder Ali of Mysore.
  • Tipuis seen as a man of imagination and courage, a brilliant military strategist who, even though in a short reign of 17 years, mounted the most serious challenge the East India Company (EIC) faced in India.

Contributions of Tipu Sultan:

  • Fought the first Anglo-Mysore War (1767-69) at the age of 17 and subsequently, against the Marathas and in the Second Anglo-Mysore War (1780-84).
  • He fought EIC forces four times during 1767-99. However, he was killed defending his capital Srirangapatnam in the Fourth Anglo Mysore War, 1799.
  • Tipu is known to have reorganised his army along European lines, using new technologies, including the first war rocket.
  • He devised a land revenue system based on detailed surveys and classification, in which tax was imposed directly on the peasant, and was collected through salaried agents in cash, widening the state’s resource base and reducing middlemen.
  • Other initiatives:
    • Modernised agriculture,
    • Gave tax breaks for developing wasteland,
    • Built irrigation infrastructure,
    • Repaired old dams,
    • Promoted agricultural manufacturing and sericulture.
    • Built a navy to support trade.
    • Commissioned a “State commercial corporation” to set up and build factories.

Governmental Initiatives

Mid-Day Meal Scheme

Why in News?

Recently, a new study highlighting the inter-generational benefits of Midday Meal Scheme was published.

About the Mid-Day meal scheme:

  • MDM Scheme guarantees one meal to all the children in government and other aided schools and madarsas supported under Samagra Shiksha Abhiyan.
  • These students are guaranteed one nutritional cooked meal at least 200 days in a year.
  • It is under the Ministry of Education.
  • It was launched in the 1995 as the National Programme of Nutritional Support to Primary Education, a centrally sponsored scheme.
  • In 2004, the scheme was relaunched as the MDM Scheme.
  • The Scheme is also covered under the National Food Security Act, 2013.
  • Objective:
    • Address hunger and malnutrition,
    • increase enrolment and attendance in school,
    • improve socialisation among castes,
    • provide employment at grassroot level especially to women.
  • The MDM rules 2015, states that the place of serving meals to the children shall be school only.
  • Nutritional norms:

    Smart Cities Mission

    Why in News?

    Recently, Jaipur Smart City Limited has completed nine big projects to secure first place in the online ranking under Smart Cities Mission.

    About Smart Cities Mission:

    • It is an innovative initiative under MoHUA, to drive economic growth and improve quality of life of people by enabling local development with harnessing technology to create smart outcomes for citizens.
    • Objective:
      • Promote cities which provide core infrastructure,
      • Give a decent quality of life to citizens,
      • A clean and sustainable environment,
      • Application of Smart Solutions.
    • It aims to develop areas step-by-step with the help of these three models:
      • Greenfield development.
    • It is a Centrally Sponsored Scheme(CSS).

    International Relations

    International Atomic Energy Agency (IAEA)

    Why in News?

    IAEA has stated that the dragging talks for restoration of JCPOA has put IAEA is an “uncomfortable position” with its role beoing undermined.

    About IAEA:

    • The IAEA is a UN agency working as the international centre for cooperation in the nuclear/atomic field.
    • It works with its member countries and many other partners to promote peaceful uses of nuclear technologies.
    • In 1957, it was set up as the world’s
    • “Atoms for Peace” organization within the United Nations.
    • It reports to both the UN General Assembly and Security Council.
    • It has headquarters in Vienna, Austria.

    Key functions:

    • Promote the safe, secure and peaceful use of nuclear technologies in the globe.
    • Promote the peaceful use of nuclear energy,
    • Inhibit nuclear energy’s use for any military purpose, also including nuclear weapons.

    The IAEA has three chief areas of work:

    • Safety and security
    • Science and technology
    • Safeguards and verification

    Other important aspects of IAEA:

    • India is a founding member of the IAEA, i.e., joined it in 1957.
    • Presently, IAEA functions as an autonomous organisation within the United Nations system.
    • Funding of IAEA:Contributions and donations from non-members.


    Note: IAEA is not specialised agency of UN.

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