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Important Current Affairs for CLAT-18th October 2023

Government Launches Tradable Green Credit Program to Promote Eco-Friendly Actions

The government has initiated a novel program that allows individuals and entities to earn and trade green credits, which are units of incentives for environmentally beneficial actions. This program aims to encourage positive environmental contributions through market-based incentives.

Program Overview

The program is introduced at the national level, promoting a competitive market-based approach for green credits to incentivize environmental actions. It is a voluntary initiative stemming from the ‘LiFE’ (Lifestyle for Environment) campaign.

Covered Activities

The Green Credit program encompasses eight key activities:

  1. Tree Plantation: Encouraging activities to increase the green cover across the country.

  2. Water Management: Promoting water conservation, harvesting, efficiency, and reuse, including wastewater treatment.

  3. Sustainable Agriculture: Supporting natural and regenerative agricultural practices and land restoration for improved productivity, soil health, and nutritional value.

  4. Waste Management: Encouraging sustainable waste management practices, including collection, segregation, and environmentally sound handling.

  5. Air Pollution Reduction: Promoting measures to reduce air pollution and other pollution abatement activities.

  6. Mangrove Conservation and Restoration: Measures to conserve and restore mangroves.

Earning Green Credits

To earn green credits, individuals or entities need to register their environmental activities electronically through a dedicated website. These activities will be verified by a designated agency, and upon verification, the Administrator will grant a certificate of green credit.

Green Credit Calculation

The calculation of green credits is based on resource requirements, scale, scope, size, and other relevant parameters required to achieve the desired environmental outcome.

Green Credit Registry and Trading Platform

A Green Credit Registry will be established, and the Administrator will maintain a trading platform to facilitate the trade of green credits.

Incentivizing Positive Actions

The program aims to incentivize environmentally positive actions through market-based mechanisms. Green credits will be tradable on a domestic market platform.

Compliance and Obligations

The initiative encourages industries, companies, and entities to fulfill their existing or other obligations under existing laws. It also promotes voluntary environmental measures by allowing the generation or purchase of green credits. However, green credits generated or procured to meet legal obligations cannot be traded.

Distinction from Carbon Credits

The Green Credit program is independent of the Carbon Credit Trading Scheme, 2023, established under the Energy Conservation Act, 2001. Environmental activities that generate green credits may also have climate co-benefits, such as reducing carbon emissions, and can potentially earn carbon credits under the Carbon Credit Trading Scheme.

Bharat Rashtra Samithi In Telangana Unveils Manifesto For Underprivileged

The Bharat Rashtra Samithi (BRS) recently unveiled its manifesto, promising a host of transformative initiatives aimed at improving the lives of underprivileged citizens. In a press conference on October 15th, party president and Chief Minister K. Chandrashekar Rao outlined these pledges, highlighting their commitment to uplift the marginalized sections of society.

Life Insurance for BPL Families

One of the standout promises in the BRS manifesto is the provision of life insurance coverage of ₹5 lakh to over 93 lakh Below Poverty Line (BPL) families. This initiative takes inspiration from the successful Rythu Bima program, which extends insurance to farmers. By extending similar coverage to BPL families, the BRS aims to provide a much-needed safety net to those who are economically vulnerable.

Ensuring Food Security

The BRS manifesto emphasizes the importance of food security by pledging to supply superfine rice through the public distribution system to all ration card holders. This commitment falls under the Telangana Annapurna scheme, with the goal of ensuring that no family goes to bed hungry. This move can significantly alleviate the burdens of low-income households and contribute to improving their overall quality of life.

Monthly Honorarium for Eligible Women

Under the Saubhagya Laxmi scheme, the BRS has promised to provide a monthly honorarium of ₹3,000 to eligible women. This initiative recognizes the invaluable contributions of women in households and communities and aims to provide them with economic empowerment.

Aasara Pension Enhancement

K. Chandrashekar Rao announced a substantial increase in the Aasara pension amount for various vulnerable groups, including old-aged individuals, single women, differently-abled individuals, and others. The monthly pension will be raised in a phased manner, with the ultimate goal of increasing it to ₹5,000 for old-aged and single women and ₹6,000 for the physically challenged. This increase will provide financial relief to those who need it the most.

Rythu Bandhu Expansion

The BRS plans to enhance the benefits of the Rythu Bandhu scheme, which currently provides support to farmers. The proposed increase will raise the annual support to ₹16,000 per acre, a significant boost from the existing ₹10,000. This augmentation will be implemented in phases to ensure a smooth transition and efficient distribution of resources.

Domestic Gas Cylinders for BPL Families

Addressing the energy needs of BPL families, the BRS manifesto includes a promise to provide domestic gas cylinders at an affordable price of ₹400. This move aims to make clean cooking fuel accessible to economically disadvantaged households, contributing to improved health and living conditions.

Healthcare Reform Under Aarogya Sri

Under the Aarogya Sri health scheme, the BRS pledges to expand treatment coverage to ₹15 lakh, which includes coverage for accredited journalists. This initiative will enhance access to quality healthcare and reduce the financial burden on families during medical emergencies.

Continuation of Welfare Schemes

The BRS is committed to continuing key welfare schemes, including the double-bedroom housing and Gruhalaxmi schemes, and providing house sites to the poor. These initiatives play a pivotal role in addressing the housing needs of the marginalized.

Residential Schools for Unreserved Communities

In a bid to attract and serve the unreserved communities, the BRS has announced the opening of one residential school in each of the 119 constituencies. This move will facilitate access to quality education for students from these communities.

Old Pension Scheme for Employees

Recognizing the concerns of employees, the BRS manifesto assures the formation of a committee to examine the possibility of reinstating the old pension scheme, offering an alternative to the current pension system.

Rights Over Assigned Lands

The BRS manifesto commits to providing complete rights over assigned lands to those who hold them, ensuring that they can manage and dispose of their land as needed.

Bharat Rashtra Samithi (BRS)

The Bharat Rashtra Samithi (BRS), formerly known as the Telangana Rashtra Samithi (TRS), is an Indian political party primarily operating in the state of Telangana. It was established on April 27, 2001, by K. Chandrashekar Rao, with the primary objective of achieving statehood for Telangana, with Hyderabad as its capital. The party has played a pivotal role in leading a consistent movement for the creation of a separate Telangana state.

Jaishankar unveils Rabindranath Tagore’s bust in Vietnam

India and Vietnam, two countries with deep-rooted historical connections dating back almost two millennia, have been forging an enduring bond rooted in Buddhism. This relationship has been further solidified by literary exchanges and cultural influences. In a recent diplomatic gesture, India’s External Affairs Minister, S. Jaishankar, inaugurated a bust of Nobel Laureate writer and poet Rabindranath Tagore in Bac Ninh city, symbolizing the historical and cultural ties between the two nations.

The historical and cultural connections between India and Vietnam, enriched by the introduction of Buddhism, literary exchange, and the influence of Rabindranath Tagore, continue to strengthen the bond between these two nations. The inauguration of Tagore’s bust in Bac Ninh city stands as a testament to the enduring relationship and mutual respect that both countries share, fostering a brighter future for their diplomatic and cultural ties.

Historical Roots: Indian Monks and the Introduction of Buddhism

Indian Monks’ Role: Historical records reveal that Indian monks played a significant role in introducing Buddhism to Vietnam, laying the foundation for a shared spiritual heritage. The Bodhi Tree: A living symbol of the age-old links between India and Vietnam is the Bodhi tree, a gift from President Rajendra Prasad to President Ho Chi Minh in 1959. This gift continues to symbolize the enduring connection between the two nations.

Literary and Cultural Exchange: Tagore’s Influence

Gitanjali in Vietnam: Rabindranath Tagore’s famous work, “Gitanjali,” was translated into Vietnamese and published in 2001, bridging the cultural gap and bringing Tagore’s poetry to Vietnamese readers. Tagore’s Visit: Historical records also indicate that Tagore paid a three-day visit to Ho Chi Minh City in 1929, leaving a lasting socio-cultural impact on Vietnam. Nobel Laureate: Rabindranath Tagore’s “Gitanjali” earned him the Nobel Prize for Literature, making him the first non-European to receive this prestigious award in 1913. This literary achievement continues to connect India and Vietnam through a shared appreciation for Tagore’s poetic genius.

Celebrating Tagore: A Postal Stamp and a Bust

Postal Stamp Tribute: In 1982, Vietnam issued a postal stamp in honor of Rabindranath Tagore, further showcasing the admiration and respect the nation holds for the poet. Minister Jaishankar’s Visit: During his visit, External Affairs Minister S. Jaishankar expressed his deep appreciation for the reverence shown to Tagore in Vietnam and believes that unveiling the bust of Gurudev Tagore will contribute to the international character of Bac Ninh city.

One Nation One Student ID Card – APAAR ID Registration, Benefits, and Download

The Ministry of Education and Government of India has initiated the APAAR ID, known as the “One Nation One Student ID Card.” This groundbreaking program aims to digitally centralize academic data, including degrees, scholarships, rewards, and other credits for students. In this article, we will provide you with detailed information about the benefits of the APAAR ID and how to download it from the official website.

The One Nation One Student ID Card, APAAR ID, is a significant step towards a more organized and accessible academic experience for students in India. By registering and downloading your APAAR ID, you can unlock various benefits and conveniently store your academic records. With thousands of institutes and millions of students already benefiting from this program, it’s a promising development in the education sector.

APAAR ID Registration Form

Government Initiatives: Explore how the Government of India and the Ministry of Education continue to introduce initiatives that benefit citizens. Registration Process: Understand the significance of completing the APAAR ID registration and how to download the card for use.

APAAR Card: One Nation One ID Card Registration

Digital Student ID: Learn about the APAAR Card, a digital ID card for students in India, whether they attend private or government schools or colleges. Main Objectives: Explore the key objectives of the APAAR Card program, such as collecting academic data and academic credits in one place. Unique Identifier: Understand how the card includes a unique 12-digit APAAR number for each student.

ABC Card PDF Download

The Academic Bank of Credits was launched following discussions in the National Education Policy (NEP). Under this portal, all students can register and avail of the benefits provided by the ABC Card. The following instructions explain the ABC Card PDF download process. After downloading the APAAR Card PDF @ abc.gov.in, it’s important to verify the details mentioned on it, such as name, APAAR ID, QR code, and others. Currently, thousands of institutes and two crore students have registered online for the ABC Card or APAAR ID Card.

ABC Bank Registration By Digilocker

ABC Bank Account: Learn about the ongoing ABC Bank registration through Digilocker. Account Setup: Find out how to set up an account using your mobile number, select university details, academic qualifications, and more. APAAR Card Issuance: Understand the process of APAAR Card issuance and how to download it for various services.

Guide for APAAR ID Registration Online @ abc.gov.in

Registration Steps: Follow the detailed instructions for completing APAAR ID registration online on the abc.gov.in website. Mobile and Aadhar Card: Understand the role of your mobile number and Aadhar card number in the registration process. Selecting School or University: Learn how to choose your school or university and specify your class or course. Card Generation: Find out how to submit the form and generate your APAAR ID Card online for collecting academic credits.

B K Mohanty Assumes Charge As Director Of Finance At IREDA

Dr. Bijay Kumar Mohanty officially assumed the role of Director (Finance) at the Indian Renewable Energy Development Agency Ltd. (IREDA). Dr. Mohanty, a highly respected senior finance professional with an impressive career spanning over 25 years in the Indian power sector, brings with him a wealth of knowledge and experience that promises to enrich IREDA’s leadership. The appointment of Dr. Mohanty as Director (Finance) of IREDA was approved by the Appointments Committee of the Cabinet (ACC).

Five-Year Appointment

In an order issued by the Ministry of New & Renewable Energy , Dr. Bijay Kumar Mohanty was appointed to the post for a period of five years from the date he assumed charge or until further orders, whichever is earlier. This long-term commitment is expected to provide stability and continuity in the financial leadership of IREDA.

Distinguished Career and Expertise

Prior to joining IREDA, Dr. Mohanty, aged 53 years, held the position of Head of Department and Senior General Manager (Finance & Accounts) at REC Limited. His illustrious career in the Indian power sector is marked by significant contributions, and he has played invaluable roles at GRIDCO (Grid Corporation of Odisha) and CESCO Distribution Company, where he honed his expertise across the entire power sector value chain.

Dr. Mohanty’s Diverse Academic Achievements

Dr. Mohanty has a multifaceted background, holding Ph.D., M.Phil, M.Com, MA (Public Administration), and LL.B degrees in addition to a postgraduate diploma in Management. He is also a distinguished fellow member of the Institute of Cost & Management Accountants of India and holds a Ph.D. in Commerce from KIIT, Bhubaneswar.

Warm Welcome from IREDA Chairman & Managing Director

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, conveyed his warm wishes and enthusiasm for Dr. Mohanty’s appointment. He emphasized that Dr. Mohanty’s impressive track record in the Indian power sector and his financial expertise, combined with his fervor for renewable energy, position him as the perfect leader not just for overseeing our financial operations but also for contributing valuable insights to drive business growth.

Paving a Way for IREDA’s Bright Future

Dr. Bijay Kumar Mohanty’s appointment as Director (Finance) at IREDA signals a promising era for the organization as it continues its mission to promote renewable energy and sustainable practices in India. His extensive knowledge and experience are expected to contribute significantly to IREDA’s success in the renewable energy sector.

Nawanpind Sardaran Village In Punjab Receives Best Tourism Village Award

The beautiful Nawanpind Sardaran village, located in Gurdaspur, Punjab, was recently awarded the title of “Best Tourism Village of India 2023” by the Union Ministry of Tourism. This recognition was a testament to the remarkable efforts of the Sangha sisters, who have passionately dedicated themselves to preserving their ancestral homes, Kothi and Pipal Haveli, and promoting sustainable tourism in their village.

Nawanpind Sardaran: A Perfect Gateway to Northern India’s Treasures

Nawanpind Sardaran, located just five kilometers south of National Highway-54, offers an ideal stopover for travelers heading to the Mata Vaishno Devi temple, Kangra, Dharamsala, Dalhousie, and other popular tourist destinations.

Historical Significance of Nawanpind Sardaran

The history of Nawanpind Sardaran dates back to the late 19th century when it was founded by Narain Singh. In 1886, his son Beant Singh built the ‘Kothi,’ a stately mansion that served as a residence and a hub for agricultural activities. This historical connection has bound the Sangha family to their village, and it became the catalyst for their journey into heritage preservation and sustainable development.

The Sangha Sisters and Their Dedication

Nawanpind Sardaran’s success story is intrinsically tied to the dedication of the Sangha sisters: Gursimran Kaur Sangha, Gurmeet Rai Sangha, Manpreet Kaur Sangha, Gita Sangha, and Noor Sangha. Despite their busy professional lives, these sisters have prioritized the preservation of their ancestral heritage.

Transformation of Kothi and Pipal Haveli

The Sangha sisters took it upon themselves to restore and renovate Kothi and Pipal Haveli, which were nearly 140 years old. These architectural gems were converted into homestays, attracting domestic and international tourists. The blend of rich history and modern amenities in these heritage homes has provided visitors with a unique and culturally immersive experience.

Community Involvement and Employment Opportunities

The Sangha family’s efforts extended beyond just promoting tourism. With the support of the Gurdaspur district administration, they involved the local community and created employment opportunities. Gursimran, who runs a goat farming business in the village, has actively engaged local youths, and there are plans to expand this initiative.

Empowering Women Through ‘Bari Collective’ and Economic Opportunities

Gita Sangha, on the other hand, has been pivotal in establishing women’s self-help groups for craft production, creating the brand ‘Bari collective.’ This initiative has empowered around 60 village women through craft production. Additionally, women from the village have found employment opportunities at Kothi and Pipal Haveli, contributing to their economic empowerment.

Global Contributions of Manpreet and Noor Sangha

Manpreet Kaur Sangha, residing in the USA, manages the online booking of homestays, while also providing yoga training to village schoolchildren during her visits. The youngest sister, Noor Sangha, who is based in Mumbai, practices law and adds her professional expertise to the family’s endeavors.

Cultural Heritage and Tourism Potential

Conservation architect Gurmeet Rai Sangha believes that Nawanpind Sardaran holds enormous potential for promoting cultural heritage. Gurdaspur boasts numerous cultural heritage sites, making it a promising tourist destination. Positioned strategically on the route from Amritsar to Himachal Pradesh and Jammu and Kashmir, Gurdaspur is a gateway to these beautiful regions.

RBI Imposes ₹1 Crore Penalty On Union Bank

The Reserve Bank of India (RBI) has taken a stern stance on non-compliance with its regulatory directives by imposing penalties on Union Bank of India, RBL Bank, and Bajaj Finance, all of which have faced penalties for various breaches of RBI’s regulatory guidelines.

Union Bank of India Penalized for Non-Compliance with ‘Loans and Advances’ Directives

  • The RBI has imposed a penalty of ₹1 crore on Union Bank of India for its failure to adhere to the regulatory guidelines on ‘Loans and Advances – Statutory and Other Restrictions.’

  • An examination of the bank’s financials for the fiscal year 2020-21 revealed significant non-compliance issues.

  • The bank sanctioned a term loan to a corporation in lieu of budgetary resources designated for specific projects, without conducting due diligence on the viability of these projects.

  • Furthermore, the repayment and servicing of the loan were made using budgetary resources, a direct violation of the central bank’s directives.

RBL Bank Fined for Violating Norms on Regulatory Approval

  • RBL Bank has been fined an amount of ₹64 lakh for its failure to comply with RBI’s regulatory approval norms concerning the acquisition of shares or voting rights in private sector banks.

  • The bank did not obtain the annual declaration in Form B from one of its major shareholders within one month of the close of the financial years 2018, 2019, and 2020.

  • Additionally, RBL Bank failed to furnish certificates to the RBI regarding the ‘fit and proper‘ status of one of its major shareholders by the end of September for all three years.

Bajaj Finance Penalized for Breach of Regulatory Norms

  • Pune-based Bajaj Finance has also been levied a penalty of ₹8.50 lakh for breaching regulatory norms related to the reporting of certain frauds to the RBI.

  • The violation pertains to the extent of not reporting and delays in reporting specific fraud cases to the central bank.

  • Adherence to timely and accurate reporting of financial irregularities is vital for maintaining the integrity and stability of the financial system.

Importance of Regulatory Compliance and Lessons from RBI’s Actions

The RBI’s actions serve as a reminder to financial institutions about the need to follow best practices and uphold the highest standards of governance and transparency in their operations. It is imperative for banks and financial institutions to review and enhance their compliance mechanisms to prevent future breaches and penalties.


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