UPSC Notes EPFO Labour Law

2021-05-22 03:48:32 Current Affairs One Liners - 21 May 2021
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World Metrology Dayy is observed on May 20
The World Metrology Day is observed on 20 May to celebrate the International System of Units. Metrology is the study of measurement. The theme for World Metrology Day 2021 is Measurement for Health. The theme aims to create awareness of the important role measurement plays in health, and thus in the wellbeing of every one of us.

World Day for Cultural Diversity for Dialogue and Development: 21 May
The World Day for Cultural Diversity for Dialogue and Development is held every year on May 21. The day aims to celebrate the richness of the world’s cultures and highlight the significance of its diversity as an agent of inclusion and positive change for achieving peace and sustainable development.

Fourth Oxygen Express to Andhra Pradesh reaches Krishnapatnam Port
The Fourth Oxygen Express to Vijayawada Division, Andhra Pradesh reached Krishnapatnam Port. The train has brought 60.66 metric tons of Liquid Medical Oxygen (LMO) filled in 2 tankers. So far Vijayawada Division has received 275 Metric tons of LMO through four Oxygen Express trains.

Gujarat and Odisha govt decides to include Mucormycosis as notifiable disease under Epidemic Diseases act
Gujarat and Odisha government has decided to include Mucormycosis as a notifiable disease under the Epidemic Diseases act 1897. The decision has been taken in view of the reported rise in incidences of black fungus among covid-19 patients, currently under certain drugs and also among patients in the post-covid period.

Centre to fund startups offering indigenous solutions to combat Pandemic
To support indigenous solutions and innovative products to combat the pandemic, the Centre has come with a new initiative, NIDHI4COVID2.0. It will fund eligible startups & companies registered in India offering promising solutions in the thrust areas of oxygen innovation, portable solution, relevant medical accessories, diagnostic, informatics, or any other solution that addresses or mitigates various challenges being faced due to COVID-19.

J P Nadda inaugurates COVID help desks at 824 Community Centers across country under Seva Hi Sangthan Programme
BJP President Jagat Prakash Nadda inaugurated the COVID-19 help desks at 824 Community Centers across the country under Seva Hi Sangthan Programme. The Help Desk is being operated by the BJP Kisan Morcha.

Health Ministry advises States, UTs to review preparedness for prevention, control of Black Fungus
In view of the rising cases of Mucormycosis known as Black Fungus, Union Health and Family Welfare Ministry has advised all the States and Union Territories to review their preparedness for prevention and control of this fungal disease. Open / Comment

2021-05-21 04:34:47 विश्व के प्रमुख संगठन और उनके मुख्यालय
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1. संयुक्त राष्ट्र पर्यावरण कार्यक्रम (UNEP) - नैरोबी

2. अफ़्रीकी एकता संगठन (OAU) - आदिस-अबाबा

3. गैट (GATT) - जेनेवा

4. एशियाई विकास बैंक (ADB) - मनीला

5. नाटो (NATO) - ब्रुसेल्स

6. एमनेस्टी इंटरनेशनल - लंदन

7. अंतर्राष्ट्रीय मुद्रा कोष (IMF) - वाशिंगटन डी. सी.

8. रेडक्रॉस - जेनेवा

9. सार्क (SAARC) - काठमाण्डु

10. इंटरपोल (INTERPOL) - पेरिस(लेओंस)

11. विश्व व्यापार संगठन (WTO) - जेनेवा

12. अमरीकी राज्यों का संगठन (OAS) - वाशिंगटन डी. सी.

13. यूनेस्को - पेरिस

14. परस्पर आर्थिक सहायता परिषद् (COMECON) - मास्को

15. वर्ल्ड काउंसिल ऑफ़ चर्चेज (WCC) - जेनेवा

16. यूरोपीय ऊर्जा आयोग (EEC) - जेनेवा

17. यूनिसेफ - न्यूयॉर्क

18. पश्चिमी एशिया आर्थिक आयोग (ECWA) - बगदाद

19. संयुक्त राष्ट्र शरणार्थी उच्चायोग (UNHCR) - जेनेवा

20. अंतर्राष्ट्रीय परमाणु ऊर्जा एजेंसी (IAEA) - वियना

21. संयुक्त राष्ट्र औद्योगिक विकास संगठन (UNIDO) - वियना

22. संयुक्त राष्ट्र व्यापार एवं विकास सम्मलेन (UNCTAD) - जेनेवा

23. विश्व वन्य जीव संरक्षण कोष (WWF) - ग्लांड(स्विट्ज़रलैंड)

24. अंतर्राष्ट्रीय ओलम्पिक कमिटी (IOC) - लुसाने

25. यूरोपीय कॉमन मार्केट (ECM) - जेनेवा

26. राष्ट्रमंडलीय राष्ट्राध्यक्ष सम्मलेन (CHOGM) - स्ट्रान्सबर्ग

27. पेट्रोलियम उत्पादक देशों का संगठन (OPEC) - वियना

28. आर्थिक सहयोग और विकास संगठन (OECD) - पेरिस

29. यूरोपीय मुक्त व्यापार संघ (ECTA) - जेनेवा

30. राष्ट्रमंडल (कॉमनवेल्थ) - लंदन

31. यूरोपीय आर्थिक समुदाय (EEC) - जेनेवा

32. यूरोपीय संसद - लक्जमबर्ग

33. यूरोपियन स्पेस रिसर्च आर्गेनाईजेशन (ESRO) - पेरिस

34. यूरोपियन परमाणु ऊर्जा समुदाय (EURATON) - ब्रुसेल्स

35. एशिया और प्रशांत क्षेत्रों का आर्थिक और सामाजिक आयोग - बैंकाक

36. अफ़्रीकी आर्थिक आयोग (ECA) - आदिस-अबाबा

37. विश्व बैंक - वाशिंगटन डी. सी.

38. अरब लीग - काहिरा

39. दक्षिण पूर्वी एशियाई राष्ट्रों का संघ (ASEAN) - जकार्ता Open / Comment

2021-05-21 04:34:47 Important One Liners on Economics - Composition & Structure of Indian Economy


People engaged in primary activities are called red-collar workers due to the outdoor nature of their work.

Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers. The Index of Eight Core Industries is a monthly production index, which is also considered as a lead indicator of the monthly industrial performance.

Sunrise Industry is a term used for a sector that is just in its infancy but shows promise of a rapid boom. The industry is typically characterized by high growth rates, high degree of innovation and generally has plenty of public awareness about the sector and investors get attracted to its long-term growth prospects.

In PPP model, there is a well defined allocation of risk between the private sector and the public entity.

A monopsony is a market condition in which there is only one buyer, the monopsonist. It is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers.

An oligopoly is a market structure in which a few firms dominate. When a market is shared between a few firms, it is said to be highly concentrated.

A monopoly contains a single firm that produces goods with no close substitute.

The Financial Stability Reports, published by Reserve Bank of India, after approved by Financial Stability and Development Council (FSDC) Sub-Committee since its inception, taking inputs from financial sector regulators i.e. RBI, SEBI, PFRDA, IRDAI including Ministry of Finance, are periodic exercise for reviewing the nature, magnitude and implications of risks that may have a bearing on the macroeconomic environment, financial institutions, markets and infrastructure.

The Economic Census is being conducted by Ministry of Statistics and Programme Implementation (MoSPI) to provide disaggregated information on various operational and structural aspects of all establishments in the country.

The Code on Social Security, 2020 has defined “gig worker” as a person who performs work or participates in a work arrangement and earns from such activities outside of traditional employer-employee relationship. Open / Comment

2021-05-20 14:03:28 Pradhan Mantri KISAN Samman Nidhi Yojana 2019

Pradhan Mantri KISAN Samman Nidhi Yojana (PMKSNY) Prime Minister's Farmer's Tribute Fund) is an initiative by the government of India in which all farmers will get up to ₹6,000 per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019.

The scheme has cost ₹75,000 crore (US$11 billion) per annum and has come in effect from December 2019.

₹6,000 per year will be paid to each eligible farmer in three installment and will be deposited directly to their bank accounts.


Objective
This scheme was introduced to augment the source of income of many small and marginal farmers and supplement the financial needs of the farmers in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income.
This would also protect them from falling in the clutches of moneylenders for meeting such expenses and ensure their continuance in the farming activities.


Document Required
Aadhaar card
Citizenship certificate
Landholding papers
Bank account details


Eligibility Criteria
In the database, the land owner's name, gender.
The scheme is sponsored by the Central Government. Therefore, the farmers have to be citizens of the country.
Jan Dhan Bank Account Number, Aadhaar and Mobile Number will help in identifying eligible beneficiaries and incompetent claimants.
Land holding size should not be greater than 2 hectares.

Non-Eligible
The following categories of beneficiaries of higher economic status shall not be eligible for benefit under the scheme.
(A) All Institutional Land holders.
(B) Farmer families in which one or more of its members belong to following categories:
Former and present holders of constitutional posts.
All Persons who paid Income Tax in last assessment year.
Professionals like Doctors, Engineers, Lawyers, Chartered Accountants, and Architects registered with Professional bodies and carrying out profession by undertaking practices.
All superannuated/retired pensioners whose monthly pension is ₹10,000/-or more (Excluding Multi Tasking Staff / Class IV/Group D employees) of above category.
All serving or retired officers and employees of Central/ State Government Ministries /Offices/Departments and its field units Central or State PSEs and Attached offices /Autonomous Institutions under Government as well as regular employees of the Local Bodies (Excluding Multi Tasking Staff /Class IV/Group D employees).
Former and present Ministers/ State Ministers and former/present Members of LokSabha/ RajyaSabha/ State Legislative Assemblies/ State Legislative Councils,former and present Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats.


Benefits of PM-Kisan Sammann Nidhi Yojana
Under the scheme, financial benefit has been provided to all Small and Marginal landholder farmer families with total cultivable holding upto 2 hectares with a benefit of Rs.6000 per annum per family payable in three equal installments, every four months.
The direct transfer of funds is one of the biggest advantages of this scheme. On December 25, 2020, in the presence of PM Narendra Modi, Rs.18,000 crores were directly transferred to the bank accounts of 9 crore farmers
PM-KISAN yojana is a big step towards the Government’s initiatives of modernisation of agriculture.


Beneficiaries
All land holding eligible farmer families (subject to the prevalent exclusion criteria) are to avail of the benefits under this scheme, as per the recent cabinet decision taken during May 2019. The revised Scheme is expected to cover around 2 crore more farmers, increasing the coverage of PM-KISAN to around 14.5 crore beneficiaries, with an estimated expenditure by Central Government of Rs. 87,217.50 crores for year 2019-20. Open / Comment

2021-05-20 05:27:36 भारत के प्रधान मंत्री व मंत्रिपरिषद्

● भारत के प्रधानमंत्री की नियुक्ति करने वाला कौन है— राष्ट्रपति

● योजना अयोग का अध्यक्ष कौन व्यक्ति होता है— प्रधानमंत्री

● संघीय मंत्रिमंडल की बैठक का सभापति कौन व्यक्ति होता है— प्रधानमंत्री

● प्रधानमंत्री का कार्यकाल है— 5 वर्ष

● प्रधानमंत्री पद से त्याग पत्र देने वाले भारत के पहले प्रधानमंत्री थे— मोरारजी देसाई

● सबसे अधिक समय तक प्रधानमंत्री रहने वाले— जवाहर लाल नेहरू

● प्रधानमंत्री बनने के लिए न्यूनतम आयु— 25 वर्ष

● संसदीय शासन प्रणाली सबसे पहले किसे देश में लागू हुई— ब्रिटेन

● भारतीय संविधान के अनुसार तथ्यात्मक संप्रभुता किस व्यक्ति मे निहित होती है— प्रधानमंत्री में

● भारत के पहले प्रधानमंत्री— जवाहर लाल नेहरू

● कितने प्रधानमंत्रियों की मौत अपने पद पर रहते हुए हुई है— तीन

● प्रधानमंत्री को पद की शपथ कौन दिलाता है— राष्ट्रपति

● प्रधानमंत्री जिसने एक बार अपने पद से हटने के बाद दोबारा पद संभाला— इंदिरा गाँधी

● जवाहरलाल नेहरू के बाद भारत के प्रधानमंत्री— गुजजारी लाल नंदा

● संसदीय शासन प्रणाली में वास्तविक कार्यपालिका की शक्ति किस व्यक्ति के पास होती है— प्रधानमंत्री के पास

● सबसे कम आयु में प्रधानमंत्री— राजीव गाँधी
● लोकसभा में बहुमत दल का नेता होता है— प्रधानमंत्री

● कौन से प्रधानमंत्री की नियुक्ति के वक्त वे किसी सदन मे सदस्य नहीं थे— एच. डी. देवगौड़ा

● वह प्रधानमंत्री जो एक भी दिन संसद नही गए— चौ. चरण सिंह

● यथार्थ कार्यपालिका की समस्त सत्ता जिसमे निहित होती है वह है— मंत्रिपरिषद में

● संघीय मंत्रिपरिषद के मंत्री किस लिए उत्तरदायी होते हैं— लोकसभा के

● किसी भी सदन का सदस्य बने बिना कोई व्यक्ति मंत्री पद पर कितने दिन रह सकता है— 6 माह

● संविधान के जिस अनुच्छेद में मंत्रिपरिषद की नियुक्ति व पदच्युति का प्रावधान है वह है— अनुच्छेद-75

● मंत्रिमंडल का गठन करने वाला कौन होता है— केंद्रीय मंत्री

● स्वतंत्र भारत के पहले कानूनी मंत्री का नाम था— डॉ. बी. आर. अंबेडकर

● जो प्रस्ताव संसद में मंत्रिपरिषद रख सकती है वह है— विश्वास प्रस्ताव

● मंत्रिपरिषद् के सदस्यों को शपथ दिलाता है— राष्ट्रपति

● भारत के मंत्रिपरिषद् में अधिक सदस्य लिये जाते हैं— लोकसभा से

● स्वतंत्र भारत के पहले प्रतिरक्षा मंत्री— सरदार पटेल

● स्वतंत्र भारत के पहले वित्त— डॉ. जॉन मथाई

● राज्यसभा का सदस्य मंत्रिपरिषद का सदस्य हो सकता है— हाँ Open / Comment

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2021-05-19 04:42:37 Current Affairs One Liners - 18 May 2021
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International Museum Day is an international day held annually on or around 18 May, coordinated by the International Council of Museums. The theme for IMD 2021 is ‘The Future of Museums – Recover and Reimagine’.

MyGovhas launched the Innovation Challenge to create an app that will enable individuals to learn simple sentences of any Indian language and acquire working knowledge of a language.

New Zealand Prime Minister Jacinda Arden topped Fortune’s list of the world’s 50 greatest leaders and Adar Poonawalla too made it to the list. CEO of Serum Institute of India, Poonawalla is the only Indian among the top 10 names on the list.

Bihar government launched‘HIT Covid App’ to ensure regular monitoring and tracking of those Civic-19 patients, who are in home isolation across the state.

Star Union Dai-ichi Life Insurance Company Ltd (SUD LIFE) announced the appointment of Abhay Tewari as Managing Director and Chief Executive Officer of the Company e.f 15th May 2021.

Jainwill lead digital strategy, execution and adoption across the company. Vodafone Idea Ltd (VIL) has appointed Reema Jain as its Chief Digital Officer. She joins the telecom operator from Unilever, where she was the head of IT.

Nuklu Phom theonly person from India to win the prestigious #WhitleyAwards 2021 for his work;

Tribal Affairs Ministryand Microsoft have signed a MoU for digital transformation of Tribal Schools such as Eklavya Model Residential Schools and Ashram Schools.

Drug firm Eli Lillysaid it has signed a voluntary licensing agreement with Natco Pharma to further expedite the availability of baricitinib for COVID-19 patients in India.

Union Defence Minister Rajnath Singh and Health Minister Dr Harsh Vardhan launched the first batch of drug 2-deoxy-D-glucose drug to treat Covid-19 patients. It has been developed by DRDO’s Institute of Nuclear Medicine and Allied Sciences (INMAS) in collaboration with Dr Reddy’s Laboratories.

Chinese spacecraft successfully landed the first Mars rover Zhurong on the surface of Mars. China is the second country after the US to send a rover to the surface of the Red Planet.

The National Gallery of Modern Art (NGMA), New Delhi, would be starting it’s virtual summer workshops for children and adults from May 17. It will be held from 17th May to till June 13, 2021

In tennis, Rafael Nadal beat world number one Novak Djokovic by 7-5, 1-6, 6-3 to win a 10th Italian Open title.

Notable astronomy communicator and director of the Nehru Planetarium, Nandivada Rathnasree Passed away.

Former Saurashtra pacer and BCCI match referee Rajendrasinh Jadeja Passed away. Open / Comment

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2021-05-18 04:42:43 Banking Regulation Act, 1949


What is banking regulation act 1949?

The Banking Regulation act 1949 is a legislation in India, that states all banking firms will be regulated under this act. There are a total of 55 Sections under the banking regulating act. Initially the law was only applicable to banks, but after 1965, it was amended to make it applicable to co-operative banks and also to introduce other changes. The act provides a framework that regulates and supervises commercial banks in India. This act gives power to the RBI to exercise control and regulate banks under supervision.

Introduction of banking regulation act 1949

The act came into force on March 16 th 1949. It relates to various aspects vis-a-vis banking in India. The main objective of the banking regulation act is to ensure sound banking through regulations covering the opening of branches and the maintenance of liquid assets.

 

History of Banking Regulation Act 1949

Banking in India originated in the last decades of the 18 th century. Prior to Nationalization, the majority of the banks were private banks. Private Banks were class based and there would be monopolies that would only benefit a few people. With the nationalization of the banks, the credit scenario changes benefitted all Sections of society and contributed to overall prosperity. The Indian government recognized the need to bring the banks under some form of government control, to be able to finance India’s growing financial needs. On 19 th July 1969, 14 major Indian commercial banks of the country were nationalized. After independence, the Government of India came up with the Banking Companies Act, 1949, later changed to Banking Regulation Act 1949 as per the amending Act of 1965, under which the Reserve Bank of India was bestowed with extensive powers for the supervision of banking in India as the central banking authority.

Objectives of Banking Regulation Act 1949

The provision of the Indian Companies Act 1913 was found inadequate and unsatisfactory to regulate banking companies in India. Therefore a need was felt to have a specific legislation having comprehensive coverage on banking business in India.

Due to inadequacy of capital many banks failed and hence prescribing a minimum capital requirement was felt necessary. The banking regulation act brought in certain minimum capital requirements for banks.

One of the key objectives of this act was to avoid cut throat competition among banking companies. The act was regulated the opening of branches and changing location of existing branches.

To prevent indiscriminate opening of new branches and ensure balanced development of banking companies by system of licensing.

Assign power to RBI to appoint, reappoint and removal of chairman, director and officers of the banks. This could ensure the smooth and efficient functioning of banks in India.

To protect the interest of depositors and public at large by incorporating certain provisions, viz. prescribing cash reserve and liquidity reserve ratios. This enable bank to meet demand depositors.

Provider compulsory amalgamation of weaker banks with senior banks, and thereby strengthens the banking system in India.

Introduce few provisions to restrict foreign banks in investing funds of Indian depositors outside India.

Provide quick and easy liquidation of banks when they are unable to continue further or amalgamate with other banks. Open / Comment

2021-05-18 04:41:50 Current Affairs One Liners - 17 May 2021

The International Day of Light is celebrated on 16 May each year, the anniversary of the first successful operation of the laser in 1960 by physicist and engineer, Theodore Maiman. The theme for International Day of Families 2021 is ‘Families and new technologies’

India observes Nation Dengue Dayon May 16 as suggested by the Union Health Ministry to create awareness about the disease.

World Telecommunication and Information Society Day is an international day proclaimed in November 2006 by the International Telecommunication Union Plenipotentiary Conference in Antalya, Turkey, to be celebrated annually on 17 May. The themeof World Telecommunication Day 2021 is: Accelerating digital transformation in challenging times.

World Hypertension Day is a day designated and initiated by The World Hypertension League, which is itself an umbrella to organizations of 85 national hypertension societies and leagues. The theme of World Hypertension Day 2021 is – “Measure Your Blood Pressure Accurately, Control It, Live Longer”.

National Gallery of Modern Artwill start a month long online summer workshop– NAIMISHA 2021.

The Board of Directors IDBI Bankhas approved the appointment of P Sitaram, Executive Director (ED), as Chief Financial Officer (CFO) and Key Managerial Personnel with effect from June 1, 2021.

IT services major Tech Mahindra appointed Meghna Hareendran as its ‘Wellness Officer’ with immediate effect.

Homegrown utility vehicles and farm equipment major Mahindra & Mahindra announced the appointment of Toru Saito as the President & CEO of Mitsubishi Mahindra Agricultural Machinery Co Ltd, Japan (MAM).

The International Invincible Gold Medal of this year has been conferred on Union Training Minister Dr Ramesh Pokhriyal Nishank.

The 11th Kalasagar awards for exemplary contribution in the field of traditional performing arts for the year have been announced. The awards will be presented on October 14 at Kunnamkulam
Badhani School Palace on the occasion of the 28th death anniversary of Kalamandalam Krishnankutty Poduval, kathakali maestro and founder of Kalasagar.

The first BRICS Employment Working Group (EWG) Meeting was held on 11-12 May 2021 in Sushma Swaraj Bhawan, New Delhi in virtual format. India has assumed the BRICS Presidency this year.

Airtel Payments Bank launched a digital platform DigiGold. DigiGold is launched in partnership with SafeGold, a provider of digital gold.

In Tennis, Polish teenager Iga Swiatek ( 19 Years ) has won the Women’s Singles title of Italian Open.

Rajya Sabha MP and the senior Congress leader Rajeev Satav passed away.

Famous mathematician Professor MS Narasimhan passed away. Open / Comment