Current Affair 1:

How President is elected in Sri Lanka?

 

No one is going to ask you, how president of Sri Lanka is elected. Just we have seen too much crisis recently, just read once the three points given below.

Similar to the French model, Sri Lanka follows the semi-presidential system wherein both the Prime Minister and President enjoy executive powers, and as such the latter is also directly elected by the people. Though the President of Sri Lanka is directly elected at the end of the term of five years, the process is different when a vacancy arises.

Just read these three points mentioned below, aapko saari story samajh aa jygi Sri Lanka ke election ki.

Once the Office of President is vacant as a result of resignation, what does the Sri Lankan constitution say about the aftermath? The procedure in such a scenario is governed by Article 40 of the Constitution of Sri Lanka and the Presidential Elections (Special Provisions) 1981 ("Act").

1. Before the succeeding President occupies Office, Article 40(1)(c) requires that the sitting Prime Minister (or Speaker of Parliament if the office of Prime Minister is vacant, as mandated by the proviso to Article 40(1)(c)) shall become the Acting President until the next President is elected by Parliament. Accordingly, the current Prime Minister, Ranil Wickramasinghe, shall be the Acting President, until the Parliament elects a new one.
2. Article40(1)(a) mandates that a new President elected by Parliament shall occupy office only up to the unexpired term of the resigned President. The former President, Gotabaya Rajapaksa was elected to office in November of 2019 which was due to expire in 2024. Therefore, the new President shall be President until 2024, when the next Presidential election will be held.
3. The accession of the Prime Minister to Acting President is automatic. Subsequently, the Prime Minister (now Acting President) will appoint a cabinet minister as Acting Prime Minister in accordance with Article40(1)(c) of the constitution. The accession by Prime Minister shall set into motion the process to elect a new President. Such an election should take place within thirty-days of the vacancy arising. Consequently, the new President should be elected before 14 August 2022.

Current Affair 2:

Global Alliance for Vaccines and Immunization (GAVI)

 

First read history, how it came into existence.

Created in 2000, Gavi is an international Organisation – a global Vaccine Alliance, bringing together public and private sectors with the shared goal of saving lives and protecting people’s health by increasing equitable and sustainable use of vaccines.

More important points from website:

1. Gavi’s impact draws on the strengths of its core partners, the World Health Organization, UNICEF, the World Bank and the Bill & Melinda Gates Foundation, and plays a critical role in strengthening primary health care (PHC), bringing us closer to the Sustainable Development Goal (SDG) of Universal Health Coverage (UHC), ensuring that no one is left behind.

1. Gavi also works with donors, including sovereign governments, private sector foundations and corporate partners; NGOs, advocacy groups, professional and community associations, faith-based organisations and academia; vaccine manufacturers, including those in emerging markets; research and technical health institutes; and implementing country governments.

India is Gavi-eligible country. It means: Read below paragraph what PM said about GAVI. It donates also and it receives support also from GAVI.

Shri Modi said: ‘India recognizes and values the work of GAVI, that is why it became a donor to GAVI while still being eligible for GAVI support’. Prime Minister said India’s support to GAVI is not only financial but that India’s huge demand also brings down the Global price of vaccines for all, saving almost 400 million Dollars for GAVI over the past five years.

A proven model of GAVI, Gavi now vaccinates almost half of the world’s children, giving it tremendous power to negotiate vaccines at prices that are affordable for the poorest countries and to remove the commercial risks that previously kept manufacturers from serving them.   Because of these market shaping efforts, the cost of fully immunizing a child against 11 antigens now costs about US$ 28 in Gavi-supported countries, compared with approximately US$ 1,300 in the United States of America.   Gavi shares the cost that implementing countries pay for vaccines, which has resulted in more than 521 vaccine introductions and campaigns, dramatically boosting immunization against virulent diseases. For example, 3% of low-income countries had introduced nationally Haemophilus influenzae type b (Hib) vaccine that protects against diseases like pneumonia and meningitis.

Current Affair 3:

NITI Aayog Releases Report on Digital Banks

Source Link

 

News:

Report is fine. We will start with basic history of payment Banks and Small Finance Banks (SFBs).

The Nachiket Mor Committee Report (“Committee”), released in 2014 marks an important milestone towards promoting financial inclusion in a mission mode. One of the salient recommendations of the Committee was differentiated banking policy, i.e., issuing specialized bank licenses that would harness narrow specialization along a given dimension rather than have every bank do everything and pursue every opportunity on both sides of its balance sheet.

Pursuant to the Committee’s recommendations, RBI issued guidelines for both Payments Banks (PBs) and Small Finance Banks (SFBs), in 2014 respectively.

Given the need for leveraging technology effectively to cater to the needs of banking in India, this report studies the prevailing gaps, the niches that remain underserved, and the global regulatory best practices in licensing digital banks.

Recommendations:

The report recommends a carefully calibrated approach, comprising the following steps:

• Issue of a restricted digital bank licence (to a given applicant) (the license would be restricted in terms of volume/value of customers serviced and the like).
• Enlistment (of the licensee) in a regulatory sandbox framework enacted by the Reserve Bank of India.
• Issue of a ‘full-scale’ digital bank licence (contingent on satisfactory performance of the licensee in the regulatory sandbox, including salient, prudential and technological risk management).

The report also maps prevalent business models in this domain and highlights the challenges presented by the ‘partnership model’ of neo-banking—which has emerged in India due to a regulatory vacuum and in the absence of a digital bank licence.

The methodology for the licensing and regulatory template offered by the report is based on an equally weighted ‘digital bank regulatory index’. This comprises four factors—(i) entry barriers; (ii) competition; (iii) business restrictions; and (iv) technological neutrality.

 

Current Affair 4:

Domestic Production of Steel

 

The following details of consumption and share of domestic production and import in the consumption of finished steel during the last three years and current year indicate that the share of domestic production in the consumption of finished steel has been increasing:

Current Affair 5:

E- utthaan project

 

e-UTTHAAN is not a project but is a portal which has been devised by NIC cell of this Department based on a framework provided by NITI Aayog, for capturing online data based on the allocation of funds that has been allocated under Scheduled Caste Sub Plan (SCSP) from various Ministries/Departments on the financial, physical and outcome-based monitoring indicators.

 

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