SUCKING UP SURPLUS: SEBI NEEDS

FINANCIAL AUTONOMY TO

REMAIN EFFECTIVE

P-3/ ECO OR P-2/ REGULATOR

Key wordsKey words

• SEBI ACT 1992• SEBI SURPLUS FUNDS• INDEPENDENT AGENCIES

News

• As part of the Finance Bill, the Centre had proposed amendments to the

Securities and Exchange Board of India Act,

1992

• the amendments required that after 25% of • the amendments required that after 25% of its surplus cash in any year is transferred to its

reserve fund, SEBI will have to transfer the

remaining 75% to the government.

• the government rejected the plea from SEBI’s officials

IMPACT

1. A regulatory agency that is at the government’s

mercy to run its financial and administrative

operations cannot be expected to be

independent.

2. Further, the lack of financial autonomy can affect

SEBI’s plans to improve the quality of its SEBI’s plans to improve the quality of its

operations by investing in new technologies and

other requirements to upgrade market

infrastructure.

3. This can affect the health of India’s financial

markets in the long run.

• this is not the first time that the government at the Centre has gone after independent

agencies.

1. The Reserve Bank of India

2. National Sample Survey Office

आरबीआई को यादा

वाय�तता क� वकालत

• �ड�ट� गवनर �वरल आचाय ने कहा �क सरकार� ब�क� क� �नगरानी के �लए

MORE INDEPENDENCE FOR RBI

• Making a strong case for granting more independence to the Reserve Bank of India (RBI), Deputy Governor Viral

सरकार� ब�क� क� �नगरानी के �लए क� ��य ब�क को यादा अ धकार "दए जाने ज$र� ह�।

Governor Viral Acharya said the central bank must have more powers to supervise public sector banks

• आचाय ने कहा है �क जो सरकार क� ��य ब�क क� वतं#ता का स$मान नह�ं करती उसे आगे पीछे %व�तीय बाजार� क� नाराजगी झेलनी

Acharya said the

governments that

did not respect their

central bank's

independence would

sooner or later incur

the wrath of नाराजगी झेलनी पड़ती है।

the wrath of

financial markets

• जो सरकार क� ��य ब�क को वतं*ता से काम करने देती है उसे कम लागत पर उधार� और अंतररा-.�य /नवेशक1 का नेह 2मलता है।

• the governments that invested in central

bank independence

would enjoy lower

costs of borrowing,

the love of

international का नेह 2मलता है। • ऐसी सरकार का काय.काल यादा लंबा होता है।

international

investors, and longer

life spans.

• उ4ह1ने कहा �क 5रजव ब�क क�

वाय�तता बरकरार रखने म� कुछ ऐसे मह88वपूण ;े# ह� जहां लगातार कमजोर� बनी हुई है।

• Yet, a few important pockets of persistent

weakness remain in

maintaining the

independence of the

RBI. कमजोर� बनी हुई है।

Power-sharing agreement,

Sudan's new beginning?

P-2 /INDIA AND WORLD

KEY WORDSKEY WORDS

• ARAB SPRING• SUDAN MAP• OMAR AL-BASHIR’S FALL

• 22-year-old • 22-year-old Alaa Salahhave been at the forefront of Sudan's protests

Sudan's military council and the Forces of

Freedom and Change (FFC) Opposition alliance

initialed a political accord.

NEWS-

• Sudan’s ruling military council and representatives of the pro-democracy movement have signed

a power-sharing agreement, signalling that its

disputed transition to civilian rule is on track.

• Under the deal, a sovereign council of 11 members — five military and five civilian members and one to — five military and five civilian members and one to

be selected based on consensus — will rule for over

three years.

• A general will lead it for the first 21 months and a civilian leader for 18 months. The security

apparatus will be controlled by the military; the

ministries will get civilian leaders.

IMPACT-

1. Charts A New Course

2. Exists Deep Distrust

3. Massacred The Protesters

4. A Balance Between The Military And 4. A Balance Between The Military And

Revolutionaries

5. Framing Of A New Constitution

6. Independent Investigation Into The

June 3 Violence

The tremor of unwelcome amendments to the RTI Act

Aruna Roy and Nikhil Dey are social activists who work with

the Mazdoor Kisan Shakti Sangathan and the National

Campaign for People’s Right to Information

P- 2 / GOVERNANCE

KEY WORDSKEY WORDS

• Right to Information (Amendment) Bill, 2019

• Sections 13, 16, and 27 of the RTI Act• आशीवा.द क� कलम से....

Provisio

nRTI Act, 2005

RTI (Amendment) Bill,

2019

The Chief Information

Commissioner (CIC)

and Information

The Bill removes

this provision and

states that the

Term

and Information

Commissioners (ICs)

(at the central and

state level) will hold

office for a term of

five years.

states that the

central

government will

notify the term of

office for the CIC

and the ICs.

Quantum

The salary of the CIC and ICs (at the central level) will be equivalent to the salary paid to the

The Bill removes these provisions and states that the salaries, allowances, and other terms and conditions of Quantum

of Salarysalary paid to the Chief Election Commissioner and Election Commissioners, respectively.

conditions of service of the central and state CIC and ICs will be determined by the central government.

Quantum

Similarly, the salary of the CIC and ICs (at the state level) will be equivalent to the salary paid to the

determined by the central Quantum

of Salarysalary paid to the Election Commissioners and the Chief Secretary to the state government, respectively.

the central government.

Deductions

The Act states that at the time of the appointment of the CIC and ICs (at the central and state level), if they are receiving pension

The Bill removes these provisions.in Salary or any other retirement

benefits for previous government service, their salaries will be reduced by an amount equal to the pension.

these provisions.

AN ALLY, A PARTNER AND AMERICAN UNILATERALISM: ON THE U.S. RESPONSE TO TURKEY'S

S-400 DEAL WITH RUSSIA

P-2 INDIA AND WORLDP-2 INDIA AND WORLD

KEY WORDS

• S-400• COUNTERING AMERICA’S ADVERSARIES

THROUGH SANCTIONS ACT (CAATSA)

• F-35 JOINT STRIKE FIGHTER PROJECT

Facial recognition is an invasive and inefficient tool

P-3 / INTERNAL SECURITY

KEY WORDS

• Automated Facial Recognition • Automated Facial Recognition System (AFRS)

• assumption of “innocent until proven guilty”

• Fears of mass surveillance