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[Newsbits] 12.07.2023

Santhosh Kumar 12/07/2023
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newsbits mindmap notes

Last Natural Person Above Every Person Clause

Last Natural Person Above Every Person Clause upsc notes Context SEBI faced challenges Hindenburg-Adani allegations case What Ultimate individual Control or ownership over Financial investment like FPI Transparency and accountability In the investment structure Most national and international laws Lack such provisions FPI Vs FDI FPI (Foreign Portfolio Investment) Investments by foreign individuals or entities In financial assets Stocks, bonds, mutual funds FDI (Foreign Direct Investment) Investments by foreign individuals or entities In tangible assets Businesses, properties, infrastructure projects Long-term commitment Significant level of control and ownership Challenges posed by FPIs Use of multiple platforms Below limit for beneficial owner identification Operation in tax haven jurisdictions Ambiguity around ownership and control SEBI's Proposed Disclosure Requirements for FPIs Tighter Rules for High-Risk FPIs 50% concentration in a single group or Assets valued above Rs 25,000 crore Additional details about Ownership, economic interests, control rights Transition Period and Adherence 50% exposure to a single corporate group Six-month transition period Additional disclosure requirements Detailed Ownership Information and Enhanced Transparency Comprehensive ownership information of FPIs Details about Natural persons, public retail funds, large public-listed companies Stricter FPI Disclosure Standards Stricter globally Greater transparency and accountability FPI Categorization Based on risk levels Low-risk: Government entities, central banks, sovereign wealth funds Moderate-risk: Pension funds, public retail funds High-risk: All other FPIs

Klotho

Klotho upsc notes Origin Nature Context New study Injection of 'longevity factor' protein In ageing monkeys Restoration of Klotho levels Improvement in cognitive function Explanation Klotho An enzyme Encoded by KL gene Produced in kidney Soluble Klotho levels Decrease with age Klotho gene association Increased risk of age-related diseases Significance of findings Potential new treatments For neurodegenerative diseases Previous research On mice Observations Klotho injections extended life Increased synaptic plasticity Capacity to control communication Between neurons At junctions termed synapses

Hydrazine Hydrate

Hydrazine Hydrate upsc notes Origin HBL Context Gujarat Alkalies and Chemicals Ltd State PSU Purpose of indigenous production Reduction of dependence On European imports Explanation Chemical compound Formula N2H4·H2O Colourless liquid Usage Reducing agent Chemical intermediate Oxygen scavenger In boiler water treatment Rocket propellant Industrial applications Pesticides Agrochemicals Water treatment Pharmaceuticals Polymer production Fine chemicals About GACL Collaboration with CSIR-IICT, Hyderabad Receipt of patents For indigenous manufacturing Of Hydrazine Hydrate Establishment of commercial-scale plant Location Dahej Production capacity 10,000 metric tonnes per annum Additional establishment Purified Phosphoric Acid plant To meet demand In various industries

Standard Operating Procedure (SoP) by CBIC

Standard Operating Procedure (SoP) by CBIC upsc notes Context CBIC issued SoP Source: I.E. Prevent use of freebies, illicit liquor, prohibited items To lure voters in upcoming elections in India SoP Set of guidelines and instructions How a particular task or process should be carried out Ensure consistency, efficiency, compliance with established protocols SoP by CBIC Aim Fair and transparent elections Preventing flow of suspicious cash, illicit liquor, drugs/narcotics Preventing flow of freebies, smuggled goods during elections Monitoring Field officials to monitor monetary and non-monetary inducements Surveillance Establish surveillance teams Conduct checks on vehicles and warehouses Apprehend smuggled goods Setting up flying squads, static surveillance teams Confiscation Items associated with candidates or political parties without an e-way bill Reporting Tax officers report to the Election Commission daily CBIC (Central Board of Indirect Taxes and Customs) Under the Ministry of Finance in India Formulate policies related to customs, excise duties, GST, narcotics Oversee administration and collection of these taxes Administrative authority for subordinate organizations Including Custom Houses, Central Excise and GST Commissionerates And the Central Revenues Control Laboratory

Twin-Balance Sheet problem

Twin-Balance Sheet problem upsc notes Context Finance Minister Nirmala Sitharaman's statement Indian economy has twin-balance sheet advantage Source: TH What Both banks and corporates face financial distress High amount of non-performing assets (bad loans) (NPA) NPA of public sector banks was 12% in 2016-17 Corporates have accumulated excessive debt RBI's Financial Stability Report Banking and corporate sector balance sheets have strengthened India might have twin balance sheet advantage Gross NPA ratio at 10-year low of 3.9% Corporate balance sheet healthiest in 10 years Profitability of public sector banks tripled since 2014 Reached over ₹1 lakh crore in 2022-23 Government initiatives 4R strategy (Recognizing, recapitalizing, resolving, reforming) Central Repository of Information on Large Credits (CRILC) Banks share information on large loans Insolvency and Bankruptcy Code, 2016 National Asset Reconstruction Company (NARCL) To handle bad debt

European Sky Shield Initiative (ESSI)

European Sky Shield Initiative (ESSI) upsc notes Context Austria and Switzerland join ESSI Response to Russia's attack on Ukraine About ESSI Regional grouping of European countries Common air and missile defence system Focuses on acquiring defence equipment Strengthen NATO's Integrated Air and Missile Defense (IAMD) 19 member states Goal of leveraging existing NATO cooperation Spearheaded by Germany Initiation date: 2022

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