HISTORY

PM remembers Subramania Bharathi

GS PAPER - 01 HISTORY - The Freedom Struggle - its various stages and important contributors /contributions from different parts of the country.

Context :

Prime Minister, has remembered Subramania Bharathi on his birth anniversary.

Subramania Bharathi :

Subramania Bharathi was a Tamil poet and a symbol of patriotism, social reform and freedom.
He is also known as ‘Mahakavi Bharathiar’.
He was also an advocate of women’s rights and wrote against the caste system.
As a poet, his theme ranged from patriotism to nature, from romance to philosophy, from devotion to self-respect.
He was arrested many times on account of his writings, which was anti-colonial rule.
His songs on nationalism and freedom of India helped to rally the masses to support the Indian Independence Movement in Tamil Nadu.
“Kannan Pattu” “Nilavum Vanminum Katrum” “Panchali Sabatam” “Kuyil Pattu”are examples of Bharathi’s great poetic output.
He published the sensational “Sudesa Geethangal” in 1908
In order to proclaim its revolutionary ardour, Bharathi had the weekly newspaper named ‘India’ printed in red paper. It was the first paper in Tamil Nadu to publish political cartoons. He also published and edited a few other journals like “Vijaya”.
He attended the annual sessions of Indian National Congress and discussed national issues with extremist leaders like Bipin Chandra Pal, B.G. Tilak and V.V.S. Iyer.
- His participation and activities in Benaras Session (1905) and Surat Session (1907) of the Indian National Congress impressed many national leaders for his patriotic fervour.

In 1949, he became the first poet whose works were nationalised by the state government.

Source :- PIB

POLITY AND GOVERNANCE

Nagaland extends Inner Line Permit to Dimapur

GS PAPER - 02 GOVERNANCE - population and associated issues

Context :

The Nagaland government extended the Inner Line Permit (ILP) system to Dimapur, the commercial hub of the State.

More in the news :

This step was taken to exempt the entire district from the purview of the Citizenship Amendment Bill (CAB).
Recently Manipur has also been brought under the purview of ILP System. Thus, the entire northeast India has been exempted from CAB except for Sikkim and non-tribal areas in Assam and Tripura.The extension of ILP to Dimapur has been issued under section 2 of the Bengal Eastern Frontier Regulation, 1873 by the governor of Nagaland.
The extension of the ILP regime makes it mandatory for “every non-indigenous person” who entered the district after November 21, 1979, to obtain an ILP within 90 days.
Exemptions:
- Any non-indigenous persons living in Dimapur prior to November 21, 1979, with a certificate from the Deputy Commissioner.
- Any non-indigenous person passing through Dimapur to other states as a transit passenger with a valid document.

Citizenship Amendment Bill,2019 and North-East India :

Protected by the ILP System: Nagaland, Arunachal Pradesh, Manipur and Mizoram have been exempted from the provisions of the Citizenship Amendment Bill (CAB), 2019
Sixth Schedule Areas: The whole of Meghalaya (except a part of Shillong), Mizoram and the tribal areas of Tripura and Assam are also exempted from the CAB.
- The Sixth Schedule contains special provisions for the administration of tribal areas in the four north-eastern states of Assam, Meghalaya, Tripura and Mizoram.

Inner Line Permit :

Inner Line Permit is an official travel document issued by the Government of India to allow inward travel of an Indian citizen into a protected/restricted area for a limited period.
It is a special permit required by “outsiders” from other regions of the country to enter the notified states.
It is based on the Bengal Eastern Frontier Regulation Act (BEFR), 1873.
- This act was enacted during the British era to protect the British interests from the hill tribals who used to invade the British subjects.
- An imaginary line known as the inner-line was created to divide between the two communities so that neither party could go beyond the line without a permit from the appropriate authorities.

Source :- The Hindu

ECONOMY

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019

GS PAPER - 03 ECONOMY - Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Context :

The Union Cabinet approved the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (code), through the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019.

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 :

Aim :
- To remove certain difficulties being faced during insolvency resolution process to realise the objects of the code and to further ease doing of business.

Impact :

Amendments to the Code to remove bottlenecks, streamline the CIRP and protection of last mile funding will boost investment in financially distressed sectors.
Additional thresholds introduced for Financial Creditors represented by an authorized representative due to large numbers in order to prevent frivolous triggering of Corporate Insolvency Resolution Process (CIRP).
Ensuring that the substratum of the business of corporate debtor is not lost, and it can continue as a going concern by clarifying that the licenses, permits, concessions, clearances etc. cannot be terminated or suspended or not renewed during the moratorium period.
Ring-fencing corporate debtor resolved under the IBC in favour of a successful resolution applicant from criminal proceedings against offences committed by previous management/promoters.

Source :- PIB

Partial Credit Guarantee Scheme

GS PAPER - 03 ECONOMY - Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Context :

Cabinet approves “Partial Credit Guarantee Scheme” for purchase of high-rated pooled assets from financially sound NBFCs/HFCs by PSBs.

Partial Credit Guarantee Scheme :

“Partial Credit Guarantee Scheme” is to be offered by the Government of India (Gol) to Public Sector Banks (PSBs) for purchasing high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs)/Housing Finance Companies (HFCs).
This proposal will allow public sector banks (PSBs) to buy pooled assets from financially sound entities.
The scheme was first launched in August 2019, in which the government said it will provide one time six months’ partial credit guarantee to public sector banks for first loss up to 10 per cent.
The credit guarantee scheme will continue till 30th June 2020.
The Finance Minister can extend the scheme by another three months.
The scheme will not cover the NBFCs that were in stress before the IL&FS crisis.
The guarantee scheme covers bonds of up to Rs.1 trillion.
The scheme would cover NBFCs/HFCs that may have slipped into SMA-0 category during the one year period prior to August 1, 2018, and asset pools rated “BBB+” or higher.
SMA-0 accounts are the special mention accounts (SMA) against which the principal or interest or any other amount wholly or partially is overdue between 1-30 days.

Significance :

The proposed Government Guarantee support and resultant pool buyouts will help address NBFCs/HFCs resolve their temporary liquidity or cash flow mismatch issues, and enable them to continue contributing to credit creation and providing last mile lending to borrowers, thereby spurring economic growth.

ENVIRONMENT AND ECOLOGY

Heavy metals contaminating India’s rivers

GS PAPER - 03 ENVIRONMENT AND ECOLOGY - Conservation, environmental pollution and degradation, environmental impact assessment

Context :

A study conducted by Central Water Commission (CWC) from May 2014 to April 2018 revealed that India’s major river systems are contaminated with heavy metals, exceeding safe limits set by the Bureau of Indian Standards..

Key Highlights :

Samples from only one-third of water quality stations were safe.
The rest, or 287 (65%) of the 442 sampled, were polluted by heavy metals.
Samples from 101 stations had contamination by two metals, six stations saw contamination by three metals.
Iron emerged as the most common contaminant with 156 of the sampled sites registering levels of the metal above safe limits. None of the sites registered arsenic levels above the safe limit.
The other major contaminants found in the samples were lead, nickel, chromium, cadmium and copper.
The study spanned 67 rivers in 20 river basins.
Lead, cadmium, nickel, chromium and copper contamination were more common in non-monsoon periods while iron, lead, chromium and copper exceeded ‘tolerance limits’ in monsoon periods most of the time.
Arsenic and zinc are the two toxic metals whose concentration was always obtained within the limits throughout the study period.

Main sources of heavy metal pollution:

Mining, milling, plating and surface finishing industries that discharge a variety of toxic metals.
The population growth and rise in agricultural and industrial activities are also responsible for contamination of surface water.

Issue :

Not all rivers were equally sampled. Several rivers have only been sampled at a single site whereas others such as the Ganga, the Yamuna and the Godavari were sampled at multiple sites. Marked variation was found in contamination levels depending on the season.
- Samples were collected in three different seasons: pre-monsoon, monsoon and post-monsoon.
The presence of metals in drinking water is to some extent unavoidable and certain metals, in trace amounts, are required for good health. However, when present above safe limits, they are associated with a range of disorders.
Long-term exposure to such heavy metals may result in slowly progressing physical, muscular, and neurological degenerative processes that mimic Alzheimer’s disease, Parkinson’s disease, muscular dystrophy and multiple sclerosis.

12th DECEMBER 2019 DAILY CURRENT AFFAIRS

HISTORY

PM remembers Subramania Bharathi

GS PAPER - 01 HISTORY - The Freedom Struggle - its various stages and important contributors /contributions from different parts of the country.

Context :

Prime Minister, has remembered Subramania Bharathi on his birth anniversary.

Subramania Bharathi :

Subramania Bharathi was a Tamil poet and a symbol of patriotism, social reform and freedom.

He is also known as ‘Mahakavi Bharathiar’.

He was also an advocate of women’s rights and wrote against the caste system.

As a poet, his theme ranged from patriotism to nature, from romance to philosophy, from devotion to self-respect.

He was arrested many times on account of his writings, which was anti-colonial rule.

His songs on nationalism and freedom of India helped to rally the masses to support the Indian Independence Movement in Tamil Nadu.

“Kannan Pattu” “Nilavum Vanminum Katrum” “Panchali Sabatam” “Kuyil Pattu”are examples of Bharathi’s great poetic output.

He published the sensational “Sudesa Geethangal” in 1908

In order to proclaim its revolutionary ardour, Bharathi had the weekly newspaper named ‘India’ printed in red paper. It was the first paper in Tamil Nadu to publish political cartoons. He also published and edited a few other journals like “Vijaya”.

He attended the annual sessions of Indian National Congress and discussed national issues with extremist leaders like Bipin Chandra Pal, B.G. Tilak and V.V.S. Iyer.

His participation and activities in Benaras Session (1905) and Surat Session (1907) of the Indian National Congress impressed many national leaders for his patriotic fervour.

In 1949, he became the first poet whose works were nationalised by the state government.

Source :- PIB

POLITY AND GOVERNANCE

Nagaland extends Inner Line Permit to Dimapur

GS PAPER - 02 GOVERNANCE - population and associated issues

Context :

The Nagaland government extended the Inner Line Permit (ILP) system to Dimapur, the commercial hub of the State.

More in the news :

This step was taken to exempt the entire district from the purview of the Citizenship Amendment Bill (CAB).

The extension of the ILP regime makes it mandatory for “every non-indigenous person” who entered the district after November 21, 1979, to obtain an ILP within 90 days.

Exemptions:

Any non-indigenous persons living in Dimapur prior to November 21, 1979, with a certificate from the Deputy Commissioner.

Any non-indigenous person passing through Dimapur to other states as a transit passenger with a valid document.

Citizenship Amendment Bill,2019 and North-East India :

Protected by the ILP System: Nagaland, Arunachal Pradesh, Manipur and Mizoram have been exempted from the provisions of the Citizenship Amendment Bill (CAB), 2019

Sixth Schedule Areas: The whole of Meghalaya (except a part of Shillong), Mizoram and the tribal areas of Tripura and Assam are also exempted from the CAB.

The Sixth Schedule contains special provisions for the administration of tribal areas in the four north-eastern states of Assam, Meghalaya, Tripura and Mizoram.

Inner Line Permit :

Inner Line Permit is an official travel document issued by the Government of India to allow inward travel of an Indian citizen into a protected/restricted area for a limited period.

It is a special permit required by “outsiders” from other regions of the country to enter the notified states.

It is based on the Bengal Eastern Frontier Regulation Act (BEFR), 1873.

This act was enacted during the British era to protect the British interests from the hill tribals who used to invade the British subjects.

An imaginary line known as the inner-line was created to divide between the two communities so that neither party could go beyond the line without a permit from the appropriate authorities.

Source :- The Hindu

ECONOMY

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019

GS PAPER - 03 ECONOMY - Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Context :

The Union Cabinet approved the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (code), through the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019.

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 :

Aim :

To remove certain difficulties being faced during insolvency resolution process to realise the objects of the code and to further ease doing of business.

Impact :

Amendments to the Code to remove bottlenecks, streamline the CIRP and protection of last mile funding will boost investment in financially distressed sectors.

Additional thresholds introduced for Financial Creditors represented by an authorized representative due to large numbers in order to prevent frivolous triggering of Corporate Insolvency Resolution Process (CIRP).

Ensuring that the substratum of the business of corporate debtor is not lost, and it can continue as a going concern by clarifying that the licenses, permits, concessions, clearances etc. cannot be terminated or suspended or not renewed during the moratorium period.

Ring-fencing corporate debtor resolved under the IBC in favour of a successful resolution applicant from criminal proceedings against offences committed by previous management/promoters.

Source :- PIB

Partial Credit Guarantee Scheme

GS PAPER - 03 ECONOMY - Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Context :

Cabinet approves “Partial Credit Guarantee Scheme” for purchase of high-rated pooled assets from financially sound NBFCs/HFCs by PSBs.

More in the news :

PSBs can purchase high-rated pooled assets from financially sound NBFCs/Housing Finance Companies (HFCs), with the amount of overall guarantee provided by government till the first loss of up to 10 per cent of fair value of assets being purchased by banks or Rs 10,000 crore, whichever is lower.

The scheme would cover NBFCs / HFCs that may have slipped into SMA-0 category during the one year period prior to 1.8.2018, and asset pools rated “BBB+” or higher.

Partial Credit Guarantee Scheme :

“Partial Credit Guarantee Scheme” is to be offered by the Government of India (Gol) to Public Sector Banks (PSBs) for purchasing high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs)/Housing Finance Companies (HFCs).

This proposal will allow public sector banks (PSBs) to buy pooled assets from financially sound entities.

The scheme was first launched in August 2019, in which the government said it will provide one time six months’ partial credit guarantee to public sector banks for first loss up to 10 per cent.

The credit guarantee scheme will continue till 30th June 2020.

The Finance Minister can extend the scheme by another three months.

The scheme will not cover the NBFCs that were in stress before the IL&FS crisis.

The guarantee scheme covers bonds of up to Rs.1 trillion.

The scheme would cover NBFCs/HFCs that may have slipped into SMA-0 category during the one year period prior to August 1, 2018, and asset pools rated “BBB+” or higher.

SMA-0 accounts are the special mention accounts (SMA) against which the principal or interest or any other amount wholly or partially is overdue between 1-30 days.

Significance :

ENVIRONMENT AND ECOLOGY

Heavy metals contaminating India’s rivers

GS PAPER - 03 ENVIRONMENT AND ECOLOGY - Conservation, environmental pollution and degradation, environmental impact assessment

Context :

A study conducted by Central Water Commission (CWC) from May 2014 to April 2018 revealed that India’s major river systems are contaminated with heavy metals, exceeding safe limits set by the Bureau of Indian Standards..

Key Highlights :

12^th DECEMBER 2019 DAILY CURRENT AFFAIRS