19 September 2022 – Current Affairs

National Logistics Policy

Paper 3 – Economy

Why Should You Know?

On September 17, 2022 The Prime Minister, Shri Narendra Modi launched the National Logistics Policy (NLP) at Vigyan Bhawan, New Delhi.

In details

Need of NLP

• The need for a national logistics policy was felt since the logistics cost in India is high as compared to other developed economies. It is imperative to reduce the logistics cost in India for improving the competitiveness of Indian goods both in domestic as well as export markets. Reduced logistics cost improves efficiency cutting across various sectors of the economy, encouraging value addition and enterprise.
• Since 2014, the Indian government has put significant emphasis on improving both, Ease of Doing Business and Ease of Living. National Logistics Policy, a comprehensive effort to address issues of high cost and inefficiency by laying down an overarching interdisciplinary, cross-sectoral and multi-jurisdictional framework for the development of the entire logistics ecosystem, is yet another step in this direction.
• The policy is an endeavour to improve the competitiveness of Indian goods, enhance economic growth and increase employment opportunities.
• It has been the vision of the Indian Government to develop world-class modern infrastructure through the integration of all stakeholders in holistic planning and implementation so that efficiency and synergy are achieved in the execution of the project.
• The PM GatiShakti – National Master Plan for muti-modal connectivity – launched by the Prime Minister last year, was a pioneering step in this direction. PM GatiShakti will get further boost and complementarity with the launch of the National Logistics Policy.

Target of NLP

The policy has simple but transformational targets to help benchmark its performance.

• Reduce the cost of logistics from 14-18 percent of GDP to global best practices of 8 percent by 2030. Countries like the US, South Korea, Singapore, and certain European nations have such a low logistics cost-to-GDP ratio.
• Assuming the current cost is 16 percent of GDP, that would mean that logistics costs have to be cut by half to be near global benchmarks by 2030, assuming the global benchmark does not improve further.
• Improve the country’s Logistics Performance Index (LPI) ranking to be among top 25 countries by 2030.
• India is the fifth largest economy in the world. If it has to move fast to be among the three largest economies and join the league of developed nations, it has to aim to be among the top 10 in the LPI by 2030. It has to match the pace of South Korea.
• Create data-driven decision support systems (DSS) to enable an efficient logistics ecosystem. This is key. The DSS was needed yesterday, and time is running out fast.
• The policy’s target is to ensure that logistical issues are minimised, exports grow manifold, and small industries and the people working in them benefit significantly.
• Finally, strengthening the logistics sector will not only make it easier to do business, but also to generate substantial employment and ensure improvement in wages and working conditions.

Basic Infrastructure –

• The most important building block is the Unified Logistics Interface Platform (ULIP), which aims to collapse all logistics and transport sector digital services into a single portal, thereby freeing manufacturers and exporters from the present tyranny of long and cumbersome processes.
• Ease of Logistics Services (E-Logs), a new digital platform. This will allow industry to directly take up operational issues with government agenciesfor speedy resolution.
• The Comprehensive Logistics Action Plan comprising integrated digital logistics systems, standardisation of physical assets, benchmarking service standards, human resource development, capacity building, development of logistics parks, etc.

Vision

• The vision of the policy is to develop a technologically enabled, integrated, cost-efficient, resilient, sustainable and trusted logistics ecosystem in the country for accelerated and inclusive growth.
• The NLP, in conjunction with the Gati Shakti Programme, the Sagarmala and Bharatmala (waterways and roadways) schemes, the Dedicated Freight Corridors, etc., can be transformational.

‘Swachh Sagar, Surakshit Sagar’ Campaign

Paper 3 – Environment

Why Should You Know?

Recently Eastern Naval CommandJoined Mega Coastal Cleanup Drive ‘Swachh Sagar, Surakshit Sagar’ Campaign.

In details

• Over 500 naval personnel from Eastern Naval Command have joined the Mega Coastal Cleanup Drive as part of Puneet Sagar Abhiyan and to mark the 37th International Coastal Cleanup (ICC) Day with the theme “Swachh Sagar, Surakshit Sagar”, “Clean Coast, Safe Seas” on 17 Sep 22.
• The naval personnel along with NCC Cadets carried out the beach cleanup drives at Yerada, Kalinga beaches and all waterfronts within the premises of naval units.
• The Coastal Cleanup Drive has gained prominence in Visakhapatnam over the last few years primarily due to rapid industrialisation and development activity impacting the environment and surroundings.
• ENC has been playing active role by undertaking various environmental initiatives toward the preservation of environment especially the Oceans.

Objective

• The event is aimed to create awareness among the general public towards the upkeep of the beaches as per the Govt. of India mega Coastal Cleanup Drive of covering 7500 kms stretch covering 75 beaches for 75 days which has commenced on 03 Jul 22 and culminating on 17 Sep 22 coincides the celebrations 75 years of the country’s independence in the form of with Azadi Ka Amrit Mahotsav. 
• The underlying goals of the campaign are to ‘Consume Responsibly, Segregate waste at home, and to Dispose Responsibly’.

What is the International Coastal Cleanup?

• The International Coastal Cleanup (ICC) day is conducted in various parts of the world in third week of September every year under the aegis of United Nations Environment Programme (UNEP) and South Asia Co-operative Environment Programme (SACEP) in South Asian Region.
• The Indian Coast Guard has been co-ordinating ICC activity in India since 2006 to generate awareness among coastal populace and students towards safe & clean beaches.
• It is a day where citizens from all around the world come together to clean up the coastlines and waterways.
• The International Coastal Cleanup Day came into existence more than 30 years ago. It was founded by Linda Maraniss and Kathy O’Hara, both of whom worked at the Ocean Conservancy, a nonprofit environmental agency that specializes in formulating resolutions and policies at federal and governmental levels.
• The goal of the ICC is to reduce the amount of plastic and other waste that ends up in our oceans. By collecting trash and debris from coastal and marine habitats, we can help to make a difference.

75th Hyderabad Liberation Day program

Paper 1 – History

Why Should You Know?

On September 17, 2022 Union Home and Cooperation Minister Shri Amit Shah participated in the 75th Hyderabad Liberation Day program in Telangana.

In details –

• The Union Home and Cooperation Minister, Shri Amit Shah participated in the 75th Hyderabad Liberation Day celebrations in Telangana today. On this occasion, the Chief Minister of Maharashtra Shri Eknath Shinde, the Union Minister of Culture and Tourism Shri G. Kishan Reddy and the Union Home Secretary and many other dignitaries were present.
• Shri Amit Shah said the purpose of celebrating Hyderabad Liberation Day is to revive the history of this liberation struggle and revived the tales of the known and unknown martyrs by igniting the flame of patriotism in the youth. This will revive the spirit of patriotism in our youth.

History –

• When India gained independence in 1947 and Pakistan was formed, the British gave the remaining princely states a choice to merge with either union or stay independent. One of the largest princely states within the Indian union was Hyderabad, a Hindu-majority region ruled by a Muslim Nizam.
• The Nizam of Hyderabad, Mir Osman Ali Khan, was in a dilemma on whether he should join the Indian union or stay independent.
• Initially the Nizam urged the British government to grant Hyderabad the status of an independent monarchy under the Commonwealth of Nations. However, the British did not agree to this proposal of the Nizam.
• Majlis-e-Ittehadul Muslimeen (MIM) at that time had 20,000 Razakars who worked for the Nizam and wanted Hyderabad to be merged with Pakistan or remain independent. The Razakar was a private army meant to maintain the rule of the Nizam. After the refusal of the Nizam of Hyderabad, the then Home Minister of India Sardar Vallabhbhai Patel urged him to merge directly with India. But the Nizam, rejecting Patel’s request, declared Hyderabad an independent nation on 15 August 1947.
• Patel was shocked by this move of the Nizam of Hyderabad, located in the heart of India, and he approached the then Governor General, Lord Mountbatten. Mountbatten advised Patel that India should tackle this challenge without the use of force. Prime Minister Pandit Jawaharlal Nehru agreed with Mountbatten’s advice and he also wanted a peaceful solution to the issue.
• After this the Nizam of Hyderabad started trying to buy arms and cooperate with Pakistan.
• By this time the talks between India and Hyderabad had broken down and India had prepared to attack it.

Operation Polo –

• When India was left with no other option, it was decided to take military action on Hyderabad. On 13 September 1948, the Indian Army attacked Hyderabad. This action of the Indian Army was named Operation Polo because at that time Hyderabad had the largest number of polo grounds in the world at 17.
• The Indian Army was led by Major General JN Choudhary. The Indian army had some trouble on the first and second day and then the opposing army conceded defeat. On the evening of 17 September, the Hyderabad army laid down its arms. 1373 Razakars were killed in the action which lasted for five days. 807 jawans of Hyderabad were also killed. The Indian Army lost 66 of its soldiers while 97 soldiers were injured.

Indian Swachhata League

Paper 3 – Environment

Why Should You Know?

Swachh Amrit Mahotsav was started on 17th September 2022 along with Indian Swachhata League.

In details

• The country has witnessed many kinds of leagues from cricket to kabaddi. Today has been a league with a difference – The Indian Swachhata League – an inter-city competition ‘played’ on the parameters of swachhata powered by the youth of the city.
• The first edition of the ISL witnessed a record of sorts with more than half a million youth joining hands for clean beaches, hills and tourist spots.
• The Indian Swachhata League kick starts the Swachh Amrit Mahotsav, a fortnight of activities to galvanize action around swachhata from 17th Sept. 2022, Seva Diwas, till 2nd Oct. 2022, Gandhi Jayanti.
• The day began with whole-hearted participation and presence of highly motivated youth teams carrying with pride their own team identity.  Teams of Puri Saviours, Aizwal Clean Avengers, Gazab Ghaziabad, Swachhata Warriors, Swachh Vishakha Warriors, Bemisal Bhopal, Swachhata Warriors Jhansi represented their cities in cleanliness displayed the passion to achieve the vision of Garbage Free Cities.
• Cricketer Kuldeep Sen, actors like Rahul Dev, Mughda Godse and veteran actor Jeetender, ploggerRipu Daman Bevli joined the movement supporting their city teams. Trap shooter R. PrithvirajTondaiman, the ambassador of Trichy Rockers led from the front to keep his city clean.
• Notwithstanding the showers of rain that many cities experienced, the million plus strong youth participation drew the presence of various prominent leaders, citizens, local influencers.

Activities –

• While Chandigarh Challengers started the activity with a message Har Din, Chaar Bin! by forming the largest human chain in the history of the city to advocate the use of four bins for improved waste segregation at source at the famous Rose Garden.
• Rajkot carried out a ‘Fun Run & Youth Run’ drive for citizens of all age group to support the Swachhata mission.
• While Deputy CM of Mizoram Pu Tawnluia flagged off the youth rally of team Aizwal Clean Avengers to clean locations at SakawrhmuituaiTlang, Muthi Prayer Mountain and Hlimen Park.
• Uttarakhand Chief Minister Pushkar Singh Dhami joined the team of 2000 plus youth to win the battle against garbage in Dheradun.
• The Children’s Academy school of Malad cleaned the Aksa Beach in Mumbai, the New Delhi Municipal Council (NDMC) team cleaned the famous Hanuman Mandir, whereas the Municipal Corporation of Delhi (MCD) team was involved in cleaning locations at Qutub Minar, Akshardham Temple and Bharat Darshan Park.
• Gazab Ghaziabad team started rejuvenating Lake Makanpur with a goal to make it a tourist spot, which was a garbage dumping site.
• Team Swachhata Warriors in Jhansi moved on foot to clean Quila Gate as well as AatiyaTalaab. Malvan Warriors tried to make their beaches clean, Team Puri Saviours involved itself in mass-plogging drive to clean Puri beach.
• The best teams of this youth-led competition will be chosen by an independent process involving jury members of national repute. The evaluation will be on the basis of scale of participation, uniqueness of the activity, and impact of cleanliness initiatives. It is expected that the mission will trigger participation of youth by indulging in action for sanitation, waste management and the impact of cleanliness drive.

Khadi and Village Industries Commission

Paper 3- Economy

Why Should You Know?

Recently on September 17, 2022 the KVIC Launched 72 PMEGP units to empower artisans.

In details

• Shri Narayan Rane, Minister, MSME in presence of Shri Manoj Kumar Chairman, Khadi and Village Industries Commission (KVIC) inaugurated 72 Units assisted under PMEGP and Disbursement of Margin Money Subsidy to 720 PMEGP Beneficiaries on 17th September 2022 at KVIC Office, Mumbai.
• What is PMEGP?
• The Prime Minister’s Employment Generation Programme (PMEGP) is a flagship scheme of the Ministry of MSME, which was launched during the year 2008 – 09 (September 2008) by merging the erstwhile Rural Employment Generation Programme (REGP) implemented by KVIC and Pradhan Mantri Rojgar Yojana (PMRY) implemented by District Industries Centers.

This is a credit linked subsidy scheme for generation of employment opportunities through establishment of micro enterprises in rural as well as urban areas of the Country.

Background

• During 2020-21 and 2021-22 NAHEP in association with Agricultural Engineering and Animal Science Divisions of ICAR organized Hackathon 1.0 and 2.0 to promote the innovation in Farm Mechanization and in Animal Science, respectively.
• The events witnessed immense participation across the country where more than 784 teams i.e., 3,000 participants actively participated in hackathon 1.0 and more than 269 teams participated in hackathon 2.0. At national level, 4 teams were awarded by Union Minister of Agriculture and Farmers Welfare Shri Tomar with a cash prize of Rs. 9 lakhs.
• This event is also extending the support to winners for further development in their concept propositions, its scalability and future plan in collaboration with Agri Business Incubators, MSMEs and other investors through support of ICAR.

KVIC Initiatives

• KVIC is the nodal Agency at the national level to implement the scheme designated by Ministry of MSME, Government of India – with the active participation of banks, State Khadi & Village Industries Boards, District Industries Centers (DICs) and Coir Board for coir related activities in both rural as well as urban areas of the country.
• Maximum cost of the project eligible for subsidy under the scheme in the manufacturing sector is Rs. 50.00 lakh, and Rs. 20.00 lakh in the service sector.
• Under this Scheme KVIC has sanctioned 25105 projects and generated employment for 200840 people and released 802.19 crore MM (margin money) upto 2022-2023 as on 15.09.2022 and expected performance of 720 projects, 5760 employment and 27.43 crore of MM.
• Further, a slew of policy decisions taken by the Ministry of MSME and KVIC to expedite the execution of projects under PMEGP helped KVIC achieve its best ever performance,” he said.
• KVIC, in recent years, has taken a number of initiatives for effective implementation of PMEGP. In 2016, KVIC introduced an online portal for PMEGP. Before 2016, filing of applications was done manually and on an average only 70,000 applications were received annually.
• But, with the online portal in place, an average of nearly 4 lakh applications are received every year. The online system has brought in greater transparency. PMEGP portal enables the applicants to track their applications without any human intervention.
• In another major step, KVIC has also begun geo-tagging of all PMEGP units so as to verify the actual physical status of the units and their performance at any point of time. So far, more than one lakh PMEGP units have been geo-tagged. This also enables any person to locate the PMEGP units using a mobile app.
• Further, the Ministry of MSME, based on the inputs provided by KVIC, removed the role of the District Level Task Force Committee in approving the PMEGP projects and authorized state directors of KVIC for approval of projects and directly send it to the financing banks.
• KVIC also reduced the timeframe for scrutinizing and forwarding the applications to the banks by its state directors from 90 days to just 26 days. Further, monthly coordination meetings with the banks were started at different levels which, too, has resulted in timely disbursement of loans to the  beneficiaries.

About KVIC

• formed in April 1957 by the Government of India, under the Act of Parliament, ‘Khadi and Village Industries Commission Act of 1956’.
• Micro, Small and Medium Enterprises, with regard to khadi and village industries within India.
• It seeks to – “plan, promote, facilitate, organise and assist in the establishment and development of khadi and village industries in the rural areas in coordination with other agencies engaged in rural development wherever necessary.”
• In April 1957, it took over the work of former All India Khadi and Village Industries Board.
• Its head office is in Mumbai, whereas its six zonal offices in Delhi, Bhopal, Bengaluru, Kolkata, Mumbai and Guwahati. Other than its zonal offices, it has offices in 28 states for the implementation of its various programmes.
• Khadi and Village Industries Commission holds the exclusive rights to use the trademark ”Khadi” and “Khadi India”. The National Internet Exchange of India Domain Dispute Policy (INDRP) Arbitration Tribunal in New Delhi rejected the contention of a private entity that “Khadi” is a generic word.

Objectives of the Commission

The commission has three main objectiveswhich guide its functioning. These are –

• The Social Objective – Providing employment in rural areas
• The Economic Objective – Providing saleable articles
• The Wider Objective – Creating self-reliance amongst people and building up a strong rural community spirit.

The commission seeks to achieve these objectives by implementing and monitoring various schemes and programs.

Rajbhasha Kirti Award

Paper 1- Art & Culture

Why Should You Know?

Recently CSIR’s Popular Science Magazine ‘Vigyan Pragati’ received ‘Rajbhasha Kirti Award’.

In details

• CSIR’s popular science magazine “Vigyan Pragati” has created a new history. This magazine has received the National Rajbhasha Kirti Award (First position) and this award was given at the Second All India RajbhashaSammelan held during 14-15 September 2022 in the Pandit DeenDayal Upadhyay Indoor Stadium, Surat.
• Department of Official Language, Ministry of Home Affairs, Govt. of India organized this grand event which was witnessed by around 9000 audience.

About the meeting

• ‘Vigyan Pragati’ (a popular science magazine in Hindi) is one of India’s best popular science magazines. It is popular among children, teachers, researchers, and the public across India as well as the world.
• Council of Scientific & Industrial Research (CSIR) started publishing this magazine in 1952.
• It carries a legacy of seven decades and over these many years, the readers of this magazine have been motivated through its content.
• This monthly Hindi publication imparts the knowledge of the recent national-international S&T related developments, discoveries, inventions, technological advancements in the form of article, feature, science fiction, science poetry, quiz, scientoon (science cartoon) and docudrama.
• Vigyan Pragati aims at communicating S&T to the masses in simple language. The magazine contents aim at igniting curiosity about science among the young and strive to develop an interest in them to pursue science.
• Those engaged in preparation for various competitive examinations; use this magazine as an authentic source of information on science and technology.
• NoteblyArticle 51 A[h] of the Indian Constitution put emphasis and says that it is every citizen’s fundamental duty to develop scientific temper, spirit of enquiry, humanism and reform. Science magazines play a vital role in communicating S&T to the common man and thereby developing scientific temper.

What is Rajbhasha Kirti Award?

• Rajbhasha Kirti Puraskar is given on the day of Hindi Diwas. A total of 39 awards are given under this award scheme.
• This award is given to the organization which achieves good progress by doing its work in Hindi language.
• This award is given to any department, division, committee etc.
• It is noteworthy that The prestigious Rajbhasha Kirti Puraskar for the year 2021 was given to warship builder Garden Reach Shipbuilders and Engineers Limited, Kolkata

About Council of Scientific and Industrial Research (CSIR)

• The Council of Scientific and Industrial Research (CSIR)  isindia’s largest research and development (R&D) organization. CSIR is an all-India institute comprising  an active network of 38 national laboratories, 39 remote centres, 3 innovative campuses and 5 units.
• It was established in the year 1942
• CSIR is funded by the Ministry of Science and Technology and is registered as an autonomous body under the Societies Registration Act, 1860.
• CSIR covers a wide range of subject areas ranging from radio and space physics, oceanography, geophysics, chemicals, drugs, genomics, biotechnology and nanotechnology to mining, aeronautics, instrument science, environmental engineering and information technology.
• It provides significant technical support in many areas in relation to social efforts including environment, health, drinking water, food, housing, energy, agriculture sector and non-agricultural sector.
• The objective of the Council is to carry out scientific and industrial research related to national importance.

CSIR’s Vision

“Pursue science which strives for global impact, technology that enables innovation – driven industry and nurture trans-disciplinary leadership thereby catalyzing inclusive economic development for the people of India”

Structure –

• Its ex-officio chairman is the Prime Minister of India, ex-officio vice-chairman is the Union Minister of Science and Technology, the Director General is the head of the governing body. Further, the Finance Secretary (Expenditure) is its ex-officio member.
• The tenure of other members is three years.

Advisory Board-

• It is a 15-member  body of eminent persons from the science and technology sector.
• Its function is to provide science and technology advice or inputs to the Governing Body.
• Its members have a tenure of three years.

National Conference of State Tourism Ministers

Paper 3 – Tourism

Why Should You Know?

Ministry of Tourism is going  to organise National Conference of State Tourism Ministers from 18th to 20th September 2022 in Dharamshala.

In details

• Ministry of Tourism, Government of India is organizing National Conference of State Tourism Ministers from 18th to 20th September 2022 in Dharamshala, Himachal Pradesh under the Chairmanship of Shri G. Kishan Reddy, Minister of Tourism, Culture and DONER, to discuss issues related to development of Tourism in the country.
• The three-day National Conference of State Tourism Ministers will be attended by Central Ministers, Tourism Ministers from States and Union Territories, Governors, Administrators & Seniors Officials of the Central Government, State Governments, and Heads of the Tourism & Hospitality Associations.
• Chief Minister of Himachal Pradesh would be inaugurating the event. The event would be attended by Tourism Ministers of several states including Arunachal Pradesh, Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Assam, Tripura, Mizoram, Haryana, Sikkim, Goa, Meghalaya, Karnataka, Ladakh, Bihar, Chattisgarh, Gujarat, Jammu & Kashmir, Jharkhand, Kerala, Maharashtra etc. The conference is expected to be attended by approximate 250 delegates.

Objective –

• The Conference shall focus on the various policies and programmes of the Ministry of Tourism including the development of Tourism Infrastructure, Cultural, Spiritual & Heritage tourism, Tourism in the Himalayan states, Responsible and sustainable tourism, Role of digital technology for the marketing and promotion of tourism destinations, emerging importance of home stays in the Indian hospitality sector, Ayurveda, Wellness, Medical Value travel and promotion of domestic tourism.

Other issues such as Wildlife Tourism, Responsible Tourism, tourism related aspects of G-20 will also be discussed along with the review on the implementation of various projects implemented by Ministry of Tourism.

JAPAN- INDIA MARITIME EXERCISE 2022

Paper 2- International Relations

Why Should You Know?

Recently The sixth edition of the Japan India Maritime Exercise 2022, JIMEX 22concluded.

In details

• The sixth edition of the Japan India Maritime Exercise 2022, JIMEX 22 hosted by the Indian Navy concluded in the Bay of Bengal with the two sides bidding farewell to each other with a customary steam past on 17 Sep 22.
• Indian Naval ships led by Rear Adm Sanjay Bhalla, Flag Officer Commanding Eastern Fleet and Japan Maritime Self Defence Force (JMSDF) Ships Izumo and Takanami led by Rear Adm Hirata Toshiyuki, Commander Escort Flotilla Four, participated in the week-long exercise.
• JIMEX 22 witnessed some of the most complex exercises undertaken jointly by the two navies. Both sides engaged in advanced level anti-submarine warfare, weapon firings and Air Defence exercises.
• Shipborne helicopters, fighter aircraft and submarines also participated in the exercise. IN and JMSDF ships replenished each other at sea under the agreement on Reciprocal Provision for Supply and Services (RPSS).
• The exercise, which marked the tenth anniversary of JIMEX since its inception in 2012, consolidated the mutual understanding and interoperability between the two navies.
• JIMEX 22 seeks to consolidate the high degree of interoperability that exists between maritime forces of the two countries, through complex exercises in the surface, sub-surface and air domains.

Other Military Exercises between India and Japan

• Trilateral Maritime Exercise Malabar with the USA.
• Joint Air Force exercise ‘ShinyuuMaitri’.
• Annual joint land military exercise named ‘Dharma Guardian’.

India-Singapore Cooperation

Paper 2 –International Relations

Why Should You Know?

Recently The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) signed a FinTech Co-operation Agreement.

In details –

• On 18 September 2022The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) signed a FinTech Co-operation Agreement (CA) to facilitate regulatory collaboration and partnership in FinTech.
• The CA will promote the following:

Regulatory Sandbox Collaboration –

• MAS and IFSCA will leverage existing regulatory sandboxes in their respective jurisdictions to support experimentation of technology innovations.
• This includes referral of companies to each other’s regulatory sandboxes and enable innovative cross-border experiments in both jurisdictions.
• The CA will also allow MAS and IFSCA to evaluate the suitability of use cases which could benefit from collaboration across multiple jurisdictions, and invite relevant jurisdictions to participate in a Global Regulatory Sandbox.

Sharing of Information –

MAS and IFSCA will share non-supervisory related information and developments on innovation in financial products and services, facilitate discussions on emerging FinTech issues and participate in joint innovation projects.

About MAS, Monetary Authority of Singapore

• As a central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis.
• It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector.
• As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors and financial market infrastructures.
• It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre.

About IFSCA, International Financial Services Centre Authority

• The International Financial Services Centres Authority (IFSCA) is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centres in India.
• Housed in Gujarat International Finance Tec-City (GIFT City) in Gandhinagar (Gujarat), GIFT-IFSC is the maiden International Financial Services Centre in India (IFSC).
• Established by the Government of India under the IFSCA Act 2019, IFSCA has laid down principle-based regulatory frameworks governing myriad of activities, such as banking, finance companies, capital markets, funds management, insurance, aircraft & ship leasing, etc., which have been globally benchmarked and designed to ensure ease of doing business.

Maharaja Hari Singh’s birth anniversary

Paper 1 – History

Why Should You Know?

Recently J&K Government  todeclare Maharaja Hari Singh’s birth anniversary on Sept 23 as public holiday.

In details

• In Jammu and Kashmir, the Government has decided to declare Maharaja Hari Singh’s birth anniversary, September 23 as a public holiday. A notification to this effect will be issued soon.
• The announcement was made by Lieutenant Governor, Manoj Sinha following his meeting with a delegation comprising of prominent political leaders, members of the Yuva Rajput Sabha, civil society members at the Raj Bhavan in Jammu.
• Maharaja Hari Singh was a great educationist, progressive thinker, social reformer and a towering man of ideas and ideals. Mr Sinha said the public holiday will be a fitting tribute to rich legacy of Maharaja Hari Singh.

About Maharaja Hari Singh

• Maharaja Sir Hari Singh (23 September 1895 – 26 April 1961) was the last ruling Maharaja of the princely state of Jammu and Kashmir.
• Hari Singh was the son of Amar Singh and BhotialiChib. In 1923, following his uncle’s death, Singh became the new Maharaja of Jammu and Kashmir.
• After Indian Independence in 1947, Singh wanted Jammu and Kashmir to remain as an independent kingdom.
• He made elementary education compulsory in his state and introduced a law prohibiting child marriage. He opened up places of worship for the lower classes.
• He was against the communal thinking of the Muslim League and its members.
• During World War II, he was a member of the Imperial War Cabinet from 1944–1946. Hari Singh signed the Instrument of Accession on 26 October 1947, thus annexing his state of Jammu to the Dominion of India.
• He spent the last moments of his life at his Hari Niwas palace in Jammu. He died on 26 April 1961 in Bombay.