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[Newsbits] 12.07.2023

Santhosh Kumar 12/07/2023

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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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