04th MAR, 2023

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FIRST FOREIGN UNIVERSITY RECEIVED APPROVAL TO SET UP ITS INTERNATIONAL
BRANCH CAMPUS (IBC) IN INDIA

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Deakin University (Australia) has become the 1st foreign university to receive
INTERNATIONAL FINANCIAL SERVICES

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approval of International Financial Services Centres Authority (IFSCA) to set
up an IBC in GIFT-IFSC, Gujarat. CENTRES AUTHORITY (IFSCA)
Approval is based on the recommendation of Committee of Experts set up Genesis: IFSCA has been established as a
by GIFT City and will allow Deakin to offer same degree courses it offers in statutory body under the IFSCA Act 2019.
Australia to both Indian and foreign students. HQ: GIFT City, Gandhinagar.

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At present, Gujarat International Finance Tec-City (GIFT) IFSC is the Objective: IFSCA is a unified authority for the
maiden IFSC in India. development and regulation of financial
products, financial services and financial
Union Budget 2022-23 announced that Foreign Universities will be allowed
institutions in the International Financial
in GIFT City to offer courses free from domestic regulations, except those by
Services Centre (IFSC) in India.
IFSCA.

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Later, IFSCA notified IFSCA (Setting up and Operation of International Branch Campus and Offshore Education Centres) Regulations,
2022.

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Recently, University Grants Commission (UGC) released draft regulations for establishment of foreign universities in India.
Significance of foreign universities in India
Promote deep collaboration between academia and industry.

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Increased access to quality education.
Reduction in foreign exchange outflow.

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Check on brain drain due to research opportunities.
Concerns: Commodification of higher education, High cost of learning leading to exclusion of vulnerable sections, Language barrier etc.

WORLD BANK (WB) SIGNS A $1 BILLION PROGRAM TO SUPPORT INDIA’S HEALTH SECTOR

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Government of India and WB signed two complementary loans of $500 million each for following WB supported program for India:
Public Health Systems for Pandemic Preparedness Program (PHSPP)
Enhanced Health Service Delivery Program (EHSDP)

PHSPP will help to EHSDP will help to

Prepare India's surveillance system to detect and report Strengthen service delivery through a redesigned primary
epidemics of potential international concern. health care model
Enhance India's capacity to detect pathogens, including Improve quality of care by supporting the National Quality
zoonotic diseases. Assurance Standards certification across Health and Wellness Centers.
Build institutional capacity of core public health institutions. Transform health sector governance and accountability.

Through this combined financing of $1 billion, WB will support Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission
(PM-ABHIM).
PM-ABHIM (2021-22 to 2025-26) is a Centrally Sponsored Scheme with some Central Sector Components, for implementation of
Atmanirbhar Bharat Package for health sector.
Objective is to fill critical gaps in health infrastructure, surveillance and health research – spanning both urban and rural areas.
WB support will also prioritize health service delivery in seven states including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab,
Tamil Nadu, and Uttar Pradesh.

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MINISTRY OF TEXTILES INVITED PROPOSALS FOR EMPANELMENT OF IMPLEMENTING

PARTNERS FOR SAMARTH SCHEME
Samarth (Scheme for Capacity Building in Textiles Sector) is a demand driven
and placement-oriented skilling programme to address skill gap in textile sector

INITIATIVES TAKEN FOR TEXTILE SECTOR

Production Linked Incentive
and to provide employment to youth.
(PLI) Scheme for Textiles
It was formulated under broad skilling policy framework adopted by
Ministry of Skill Development & Entrepreneurship.

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Implementation period: Up to March 2024. Setting up of 7 PM Mega
Scheme aims to train 10 lakh persons (9 lakhs in organised & 1 lakh in traditional Integrated Textile Region and
sector). Apparel (PM MITRA) Parks

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Around 1.5 lakh persons (86% are women ) have been trained so far.
More than 70% placement has taken place in organised sector.

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National Technical Textile
Strategy adopted for scheme include Aadhaar Enabled Biometric Attendance
Mission
System (AEBAS), Training of Trainers, CCTV recording of training programme, Web
based Management Information System (MIS) etc.
Indian textile and apparel industry is expected to grow at 10% CAGR from
2019-20 to reach US$ 190 billion by 2025-26. Amended Technology

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India has a 4% share of global trade in textiles and apparel. Upgradation Fund Scheme
India’s textiles industry has around 4.5 crore employed workers.

WOMEN, BUSINESS AND THE LAW 2023 REPORT MEETING OF THE QUADRILATERAL
RELEASED BY WORLD BANK SECURITY DIALOGUE (QUAD)

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Report measures laws that affect women’s economic opportunity in 190 FOREIGN MINISTERS HELD

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economies using several indicators such as Mobility, Workplace, Pay, Marriage, Quad is an informal strategic forum of India,
Parenthood, Entrepreneurship etc. United States, Australia, and Japan with an
Key Findings objective to secure a rules-based global
Globally women enjoy only 77% of the legal rights that men do. order, freedom of navigation and a liberal

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trading system.
At the current pace, it would take at least 50 years to approach legal gender
equality everywhere. Key outcomes of the meeting:

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Presented an Index on life cycle of a working women (India scored 74.4 out of Creation of Quad Working Group on
a possible 100). Counter-Terrorism to tackle new and
emerging forms of terror.
Reforms needed in India: Laws affecting women’s pay, laws affecting women’s
work after having children, constraints on women starting and running a Quad Humanitarian Assistance and

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business, gender differences in property and inheritance etc. Disaster Relief (HADR) Partnership for the
Indo-Pacific is finalising standard operating
Recommendations for India: Improve legal equality for women, Mandating
procedures to facilitate effective and
equal remuneration for work of equal value, Allowing women to work at night
coordinated response.
and in an industrial job in the same way as men etc.
Steps taken in India for improving working opportunities for Women India joined other Quad members in calling
for a “just and lasting peace in Ukraine”,
Sexual Harassment of Women at Workplace (Prevention, Prohibition and and respect for a rules-based order in the
Redressal) Act, 2013. South and East China Seas.
Maternity Benefit (Amendment) Bill, 2016. Significance of Quad for India
Several State Governments including Karnataka, UP has allowed factories to
Balancing China’s influence: Quad serves
employ women on night shifts.
India a strategic purpose of countering
CHALLENGES FOR WORKING WOMEN IN INDIA China’s aggressive economic and military rise.
With rising significance of Indo-Pacific,
Problem at Workplace Problem at Family QUAD provides India with a powerful
platform to advance East Asia’s interests and
Gender Bias Family Duties further strengthen its Act East policy.
Insufficient Maternity Leave Time Balance Evolving Foreign policy strategy by
Mental/Physical harassment Mother Responsibility aligning with like-minded countries.
Unequal Pay Business Tours/Training Supplementing India’s defense capabilities
especially in maritime domain.

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SUPREME COURT (SC) EASES NORM FOR SELECTION OF CONSUMER COURT

PRESIDENTS, MEMBERS
SC eased norms, using powers under Article 142, with an aim to attract younger talent to preside over consumer courts:
Reduced mandatory professional experience for appointment as President (presently 20 years) and member (presently 15 years) of
state consumer commission and district forums to 10 years.
Introduced written exams and viva voce to check candidates' performance.

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With an objective to provide better protection of the interests of the Consumers, especially in the digital era, Consumer Protection
Act (CPA), 2019 was enacted.
It replaced Consumer Protection Act, 1986.
Key Feature of CPA, 2019

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Promulgates a three-tier quasi-judicial mechanism for redressal of consumer disputes (refer table).
Central Consumer Protection Authority to protect rights of consumers.

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Penalties for misleading advertisement.

Composition Pecuniary Jurisdiction

A President, who is or has been or is qualified to be a District Judge and

District commissions

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not less than two members. Up to Rs 50 lakh

A President, who is or has been a Judge of a High Court and at least four More than Rs 50 lakh
State commissions other members. up to Rs 2 crore

A President who is or has been a Judge of SC and not less than four other

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National commission Above Rs 2 crore
members.

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ALSO IN NEWS
Lokayukta police in Karnataka recovered unaccounted cash from office of a MLA.
Lokpal and Lokayukta Act, 2013 provides for a Lokpal for Union and Lokayukta for States to

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inquire into allegations of corruption against certain public functionaries.
Lokpal consists of one Chairperson and a maximum of 8 members.

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Lokayuktas are state equivalents of central Lokpal.
Lokayukta
Regarding lokayuktas, act creates a mere framework, leaving it to states to decide the specifics.

Genesis: Entry into force in 1978

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Objective: It is designed to increase road safety and aid international road traffic by
standardising the signing system for road traffic (road signs, traffic lights and road markings) in
Vienna Convention on use internationally.
Road Signs and Signals
Treaty Membership: Signatories: 35 (US, Japan not signatory). India a member.

Delhi High Court asked central government to appoint chairperson and other members of the
appellate authority provided under PMLA within eight weeks.
Act was enacted in 2002 in response to India’s global commitment (including Vienna Convention) to
combat money laundering.
It enables authorities to confiscate the property earned from illegally gained proceeds.
Prevention of Money
Laundering Act (PMLA) Enforcement Directorate (ED), a financial investigation agency under Department of Revenue,
enforces the PMLA.
Government decided to give a one-time option to select Central government employees to
migrate to OPS from new pension scheme (NPS).
Under OPS, Pension to government employees at Centre and states was fixed at 50% of last
drawn basic pay and Employees were not required to contribute to their pensions.
Under NPS, now called National Pension System, in addition to government, a matching
Old Pension Scheme (OPS)
contribution from employee was made a feature.

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Recently, New India Assurance (Largest public sector general insurance company of India)
announced the launch of its surety bond business.
A surety bond is a promise to be liable for debt, default, or failure of another.
It is a three-party contract by which one party (surety) guarantees performance or obligations
of a second party (principal) to a third party (obligee).
Surety can be insurance/banks, Principal any contractor and obligee a government.
Surety Bonds A surety is not a bank guarantee and is not an insurance policy.
Advantage: Ensure efficient use of working capital and reduce collateral requirement.

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Supreme Court (SC) expanded the scope of a HPC dealing with the transfer and transportation
of elephants bred in captivity in the North-East.
SC gave it a pan-India mandate to deal with any approval or grievance regarding transfer, import
High Powered Committee

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into India, or procurement of wild animals by any rehabilitation centre or zoo in the country.
(HPC)
Certification offers a multi-layer audit system to authenticate origin, legality, and sustainability

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of forest-based products such as timber, furniture, handicraft, paper and pulp, rubber etc.
There are two major international standards:
One developed by Forest Stewardship Council (FSC) ;
Other by Programme for Endorsement of Forest Certifications (PEFC).
Forest certification Two main types of certification: Forest management and Chain of Custody.

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Currently, forests in only one state (Uttar Pradesh) are certified in India.

Recently, oldest human genome (23000 year old) was discovered in Spain.
Genome is the entire set of DNA instructions found in a cell.

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In humans, genome consists of 23 pairs of chromosomes located in the cell’s nucleus, as well as
a small chromosome in the cell’s mitochondria.

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Genome A genome contains all the information needed for an individual to develop and function.

Temple ruins were discovered at Pushpagiri Kshetram in Kadapa district in Andhra Pradesh.
This area is famous for a chain of temples dedicated to hindu dieties like Chennakesava,
Umamaheswara etc.

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River Penna flows to southwest of the area.
Architectural features of ruins reveal a style contemporary to a temple at Vallur, built by the

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Kayastha rulers.
13th-century temple
discovered Kayasthas were subordinates to rulers of Kakatiya dynasty.
They ruled the region with Vallur as the capital.

Australia (Capital: Canberra)

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India and Australia have signed a
Framework Mechanism for Mutual
Recognition of Qualifications to ease
mobility of students and professionals.
Island nation, 6th largest nation in
world situated entirely in Southern
Hemisphere - between Indian and
Pacific Oceans.
Boundaries
Shares its maritime borders with
Places in News East Timor, Indonesia, New
Zealand, Papua New Guinea, the
Solomon Islands, and islands of
New Caledonia.
Geographical features
Highest Point: Mount Kosciuszko.
Major River: Murray River and Darling River, together forming Murray-Darling River basin.

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