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Important Current Affairs for CLAT-5th April 2023

India Justice Report 2022: Karnataka tops among 18 large States

According to the India Justice Report (IJR) 2022, which assesses the performance of states in terms of justice delivery, the state of Karnataka has achieved the top rank.

India Justice Report 2022

According to the India Justice Report (IJR) 2022, which assesses the performance of states in terms of justice delivery, the state of Karnataka has achieved the top rank among the 18 large and mid-sized states with populations over one crore. The report considers several parameters such as police, judiciary, prisons, and legal aid to assess the overall performance of each state.

The state of Tamil Nadu has secured the second position in the rankings, while Telangana has secured the third position.The State of Gujarat has got the fourth position and Andhra Pradesh is at slot five as per the report which was released on April 4 in New Delhi. On the other hand, the state of Uttar Pradesh has been ranked at 18, which is the lowest among the states considered in the report. This report is based on 24-month quantitative research. The IJR 2022, like the previous two, has tracked the performance of States in capacitating their Justice delivery structures to effectively deliver mandated services.

About the India Justice Report (IJR) 2022

The IJR report aims to provide a comprehensive assessment of the state of justice delivery in India and to identify areas where improvement is needed. The report is based on extensive data analysis and is designed to be a tool for policymakers, researchers, and other stakeholders to identify areas where reform is needed to improve justice delivery in India.

This report is based on overall data of 4 pillars of justice delivery namely Police, Judiciary, Prisons, and Legal Aid.

The India Justice Report (IJR) was initiated by Tata Trusts in 2019, and this is the third edition. The foundation’s partners include the Centre for Social Justice, Common Cause, Commonwealth Human Rights Initiative, DAKSH, TISS-Prayas, Vidhi Centre for Legal Policy and How India Lives, IJR’s data partner.

Based on the latest official statistics, from authoritative government sources, the report brings together otherwise siloed data on the four pillars of Justice delivery namely Police, Judiciary, Prisons, and Legal Aid.

Each pillar was analysed through the prism of budgets, human resources, workload, diversity, infrastructure, and trends against the state’s own declared standards and benchmarks.

This third IJR also separately assesses the capacity of the 25 State Human Rights Commissions in the country.

PM SVANidhi Scheme: Loans to Minority Street Vendors Remain Low

Minority Street Vendors Disproportionately Affected by PM SVANidhi Scheme.

Ministry of Housing shares PM SVANidhi loan data

The Ministry of Housing and Urban Affairs informed the Rajya Sabha that under the PM SVANidhi scheme, 42.7 lakh loans worth ₹5,152.37 crore have been disbursed to street vendors. Shockingly, only 9.3% of these loans were granted to hawkers from minority communities, totaling 3.98 lakh loans.

To assist street vendors in overcoming the economic difficulties caused by the pandemic, the government launched the PM SVANidhi micro-credit scheme in 2020. This initiative provides collateral-free loans of ₹10,000, with 7% interest subsidy, and subsequent loans of ₹20,000 and ₹50,000.

Decline in loans to minority street vendors

The data presented by the Ministry in response to MP Dr. John Brittas’s query indicates that the share of loans granted to street vendors from minority communities has decreased year on year. In 2020-21, 2,10,457 loans were granted to minorities, while in 2021-22 and 2022-23, only 98,973 and 88,609 loans were granted, respectively, the lowest percentage being 7.76% in 2022-23.

Dr. Brittas expressed concern over the data, stating that it paints a bleak picture for minority street vendors. He emphasized that although minorities make up approximately 20% of the country’s total population, they are significantly represented among street vendors due to various socio-economic factors.

State-wise disbursal of loans under PM SVANidhi Scheme aligned with population

The Ministry’s data reveals that loans have been distributed in a state-wise manner, with Uttar Pradesh granting the highest number of loans at 11,22,397, while Sikkim issued only one loan. Furthermore, Uttar Pradesh has also issued the most loans to hawkers from minority communities, totaling 95,032.

China’s Yuan Replaces Dollar as Most Traded Currency in Russia

China's yuan steadily gaining ground against the US dollar. This trend is reflected in Russia, where the yuan has now overtaken the dollar as the most traded currency.

In recent years, there has been a shift in the global currency landscape, with China’s yuan steadily gaining ground against the US dollar. This trend is reflected in Russia, where the yuan has now overtaken the dollar as the most traded currency.

China’s Yuan Replaces Dollar in Russia:

According to data from the Moscow Exchange, the yuan accounted for 23.6% of Russia’s foreign exchange turnover in the first quarter of 2023, while the dollar’s share was 22.5%. This marks the first time the yuan has surpassed the dollar in Russia’s currency market.

Rise of the Yuan in Russia:

The rise of the yuan in Russia is part of a broader trend of increasing acceptance of the Chinese currency in international trade and finance. China has been actively promoting the internationalization of the yuan, encouraging its use in cross-border transactions and investing in infrastructure to support its use in global markets.

Russia to diversify its foreign currency reserves:

Russia, for its part, has been seeking to diversify its foreign currency reserves and reduce its reliance on the dollar. The country has been hit by sanctions from the US and other Western countries in recent years, which has motivated the Russian government to reduce its exposure to the dollar and other Western currencies.

Russia and China: strengthening economic ties:

In addition, Russia and China have been strengthening their economic ties, with the two countries deepening their cooperation on trade, investment, and energy. As a result, the use of the yuan in Russia has increased, as Russian companies seek to conduct business with their Chinese counterparts in the Chinese currency.

China: Increasing importance in the  global economy:

The rise of the yuan in Russia is part of a broader trend of the increasing importance of China in the global economy. As China’s economy continues to grow and its influence in global trade and finance expands, the yuan is likely to become even more important in international markets.

Overall, the shift towards the yuan in Russia’s currency market is a reflection of the changing dynamics of the global economy, with China playing an increasingly prominent role. While the dollar is likely to remain the dominant currency in international trade and finance for the foreseeable future, the rise of the yuan is a sign that the world’s economic balance of power is shifting.

Union Minister Sonowal launches ‘SAGAR-SETU’ mobile app of National Logistics Portal Marine

The Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, introduced the "Sagar Setu" mobile application for the National Logistics Portal Marine.

The Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, introduced the “Sagar Setu” mobile application for the National Logistics Portal Marine. The “Sagar Setu” mobile app by the Ministry of Ports, Shipping, and Waterways offers a login module, service catalogue, Letter of Credit, bank guarantee, certification, and track & trace features.

Significance of the ‘SAGAR-SETU’ mobile app:

It gives real-time information on vessel-related details, gate information, container freight stations, and transactions. The app also facilitates digital payments for charges associated with import and export clearance processes, such as shipping line charges, transportation fees, and container freight station charges.

Benfits of “Sagar Setu” Mobile Application

The “Sagar Setu” mobile app aims to enhance convenience by reducing turnaround time for approvals and compliances.

It also enhances visibility into operations and tracking, aiding in tracking records and transactions.

Users can receive notifications for service requests through the app.

Rajya Sabha passes Competition Amendment Bill, 2023

The Rajya Sabha approved the Competition Amendment Bill, 2023, aimed at modernizing the two-decade-old anti-trust law to align with changes in the economy.

The Rajya Sabha approved the Competition Amendment Bill, 2023, aimed at modernizing the two-decade-old anti-trust law to align with changes in the economy. The Competition Amendment Bill, 2023 aims to modify the Competition Act, 2002, which authorizes the Competition Commission of India (CCI) to prevent practices that adversely impact competition and consumer interests.

More About The Competition Amendment Bill, 2023:

The Bill was introduced to Parliament in August 2022 and referred to the Standing Committee on Finance for review. The committee submitted its report in December 2022, and the Bill was re-introduced with a few amendments in February 2023. The Lok Sabha passed the Bill on March 29.

Key features to note about the Competition (Amendment) Bill, 2023

The Competition Amendment Bill 2023 proposes several changes to the Competition Act of 2002, which regulates antitrust and competition laws in India.

The proposed changes include reducing the time limit for assessment of combinations, broadening the scope of anti-competitive agreements, and changing penalties.

Under the new bill, mergers and acquisitions exceeding Rs. 2,000 crores in value must be notified to the Competition Commission of India (CCI), provided that the party being acquired has substantial business operations in India.

The bill also reduces the overall time limit for the assessment of combinations to 150 days from 210 days.

Other changes include broadening the scope of anti-competitive agreements to cover hub-and-spoke cartels, sellers, and sales of goods and services, and modifying the factors used by CCI to determine whether an agreement has an appreciable adverse effect on competition.

Additionally, penalties will be based on income or global turnover, and the liability for contraventions will apply to both the company and the people in charge.

The bill also introduces a new settlements framework, which allows entities to propose settlements for alleged contraventions.

Reliance Industries Limited (RIL) is set to hire RS Sodhi for Reliance Retail

Reliance Industries Limited (RIL) is set to hire RS Sodhi, the former MD of the Gujarat Cooperative Milk Marketing Federation (GCMMF), which is responsible for the popular Indian milk brand, Amul.

Reliance Industries Limited (RIL) is set to hire RS Sodhi, the former MD of the Gujarat Cooperative Milk Marketing Federation (GCMMF), which is responsible for the popular Indian milk brand, Amul. Sodhi will be joining Reliance Retail Ventures Limited (RRVL), led by Isha Ambani, to assist the company in expanding its grocery business in India, with a specific focus on fruits and vegetables. In addition to this, Sodhi will also be responsible for strengthening the company’s presence in consumer brands.

RS Sodhi’s appointment at Reliance Retail Ventures (RRVL) is viewed as a critical move to further accelerate Reliance Industries’ ambitious plans in the grocery sector. The company is establishing a distribution network via an omni-channel strategy. Currently, Reliance Consumer’s product range comprises of acquired brands such as Campa Cola and Sosyo Hajoori soft drinks, as well as Lotus chocolates and Maliban biscuits, alongside its own Independence and Good Life brands. For the financial year ending March 31, 2022, Reliance Retail Ventures reported a consolidated turnover of Rs 1,99,704 crore and a net profit of Rs 7,055 crore.

Sudha Shivkumar took over as 40th President of FICCI Ladies Organisation

Sudha Shivkumar has been appointed as the 40th president of FICCI Ladies Organisation (FLO), which is the oldest women-led and women-centric business chamber in Southeast Asia.

Sudha Shivkumar has been appointed as the 40th president of FICCI Ladies Organisation (FLO), which is the oldest women-led and women-centric business chamber in Southeast Asia. The appointment took place during the 39th annual session. As the president of FLO, Shivkumar aims to focus on empowering women by promoting an enabling environment that fosters entrepreneurship, industry participation, and economic development for women. She intends to carry out several interventions towards achieving this goal. FLO plays a significant role in promoting and encouraging women’s participation in various fields, and the organization has been working towards the economic and social empowerment of women in India for many years.

Who is Sudha Shivkumar?

Sudha Shivkumar pursued a Bachelor’s degree in English from the University of Madras. Later, she specialised in Corporate and Bankruptcy laws and completed a Master of Applied Finance with a specialization in Investment Banking from Macquarie University, Sydney, with distinction. With over 13 years of experience, she headed a leading non-banking finance company and subsequently led the operations of a mutual fund based in South India, managing assets worth Rs 25,000 crore. Additionally, she handled a portfolio of Rs 350 crore for an international group of high net worth individuals for seven years. Ms. Shivkumar is a lawyer and investment banker by profession and currently serves as a director at her family-run business that focuses on auto ancillaries. She previously served as the Chairperson of FLO Chennai Chapter in 2016-17. FLO currently has 19 chapters across India with approximately 3,000 businesswomen as its members.

About the FICCI Ladies Organisation (FLO)

FLO was established in 1983, as a division of the Federation of Indian Chambers of Commerce and Industry (FICCI) which is the apex body of industry and commerce in India. As an All India Organisation for women, FLO has 18 Chapters pan India – Ahmedabad, Bangalore, Bhubaneswar, Chennai, Coimbatore, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Kanpur, Ludhiana, Mumbai, Northeast, Pune, Amritsar, Northeast & Uttarakhand, with its Head Office in New Delhi. Our members comprise of entrepreneurs, professionals and Corporate Executives.


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