Current Affairs 26 September 2020 – IAS Current Affairs

Current Affairs 26 September 2020 focuses on Prelims-Mains perspective. Major events are :

1. Vodafone Won International Arbitration Against India
2. UCB’s Cybersecurity Released by RBI
3. National Medical Commission
4. Extension Of Debt Freeze G7
5. JIMEX-20 Between India and Japan
6. NASA’s sonification project
7. Fact For Prelims 26 September 2020

Vodafone Won International Arbitration Against India

Why in News ?

Vodafone wons international arbitration case against the Indian government, ending one of the most high-profile disputes in the country involving a $2 billion tax claim.

What was the case ?

• One of the most controversial disputes in India under international treaty agreements that it enters into with countries to protect foreign investments.
• The proceedings were initiated by Vodafone back in 2014
  • The agreement that Vodafone’s Netherland entity entered into with Hutchison Telecommunications to buy its share of 67% interest in an Indian company Hutchison Essar for $11 billion.
  • Two years after the then UPA government introduced retrospective amendments to Indian income tax law.
  • Subsequent to this transaction, India’s tax authorities slapped a capital gains tax of $2.2 billion on Vodafone.
  • The law allowed it to continue to raise its tax demand despite a Supreme Court order that brought relief to the company.
  • The telecom firm has argued that such a move violated the principles of equitable and fair treatment under the treaty.
• In 2012, India’s top court ruled in favour of the telecom provider but the government changed the rules to enable it to tax deals that had already been concluded.
• In 2014, Vodafone initiated arbitration proceedings against India.

Recent Verdict

• International arbitration tribunal in The Hague ruled that 
  • India’s imposition of a tax liability on Vodafone, as well as interest and penalties were in a breach of an investment treaty agreement between India and the Netherlands.
  • Thus Vodafone wons international arbitration
• India had claimed a total of ₹279 billion ($3.79 billion), including about $2 billion in tax, as well as interest and penalties.
• It also directed India to pay $5.47 million to the company as compensation for its legal costs.
• Any attempt by India to enforce the tax demand would be a violation of India’s international law obligations.

Implication of the Verdict

• India is entangled in more than a dozen such cases against companies, including Cairn Energy, over retrospective tax claims and cancellation of contracts.
• The exchequer could end up paying billions of dollars in damages if it loses.
• To reduce future arbitration claims India has ended such agreements with over 50 countries
  • Currently working on a new law to protect foreign investors by offering relief from possible policy changes even as it upholds the right to tax them.

Source : The Hindu

Topic

GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

UCB’s Cybersecurity Released by RBI

Why in News ?

The Reserve Bank of India (RBI) has come out with a document to enhance cybersecurity of urban co-operative banks (UCBs).

Technology Vision for Cyber Security for Urban Co-operatve Banks (UCBs) 2020-2023

• It plans to achieve its objective through a five-pillared strategic approach GUARD, viz.
  1. Governance Oversight,
  2. Utile Technology Investment,
  3. Appropriate Regulation and Supervision,
  4. Robust Collaboration and Developing necessary IT,
  5. Cybersecurity skill sets.
• The vision document, with its 12 specific action points, aspires to involve more board oversight over cybersecurity.
• Develop a forum for UCBs so that they can share best practices and discuss practical issues and challenges.
• Also to implement a framework for providing awareness/training for all UCBs.
• It enable UCBs to better manage and secure IT assets and implement an offsite supervisory mechanism framework for UCBs on cybersecurity-related controls.

How this helpful ?

• The cybersecurity landscape will continue to evolve with wider adoption of digital banking channels, thus necessitating the UCBs to manage the associated risks effectively.
• Active collaboration within UCBs and stakeholders would be necessary for sharing and co-ordinating various measures taken on cyber security aspects.
• Vision document will strengthen the cyber resilience of the Urban Co-operative Banks

Source : The Hindu

Topic

GS III : Challenges to internal security through communication networks, role of media and social networking sites in internal security challenges, basics of cyber security

National Medical Commission

Why in News ?

The National Medical Commission (NMC) has replaced the Medical Council of India (BoG-MCI). It aimed at bringing in reforms in medical education. 

Why Medical Council of Inida Dissolved ?

• MCI is an elected body where its members are elected by medical practitioners themselves, i.e., the regulator is elected by the regulated.
  • Separating the regulation of medical education and medical practice due to to its
    • Regulatory role
    • Composition
    • Allegations of corruption
    • Lack of accountability
• National Medical Commission Bill introduced to dissolve MCI in 2019. 

National Medical Commission

• National Medical Commission (NMC) as an umbrella regulatory body with certain other bodies under it.
• Functions of the NMC include
  • Laying down policies for regulating medical institutions and medical professionals
  • Assessing the requirements of human resources and infrastructure in healthcare
  • Ensuring compliance by the State Medical Councils with the regulations made under the Bill
  • Framing guidelines for determination of fee for up to 50% of the seats in the private medical institutions.
• The NMC will have four separate autonomous boards
  • Under-graduate medical education : Responsible for formulating standards, curriculum, guidelines for medical education.
  • Post-graduate medical education : Responsibility same as above.
  • Medical assessment and Rating : power to levy monetary penalties on institutions which fail to maintain the minimum standards.
  • Ethics and medical registration : Maintain a National Register of all the licensed medical practitioners.
• Members will be nominated consist of 25 members including
  • Director Generals of the Directorate General of Health Services and the Indian Council of Medical Research
  • Director of any of the AIIMS
  • Five members (part-time) to be elected by the registered medical practitioners
  • Six members appointed on rotational basis from amongst the nominees of the states in the Medical Advisory Council.
  • Among 25 at least 15 are medical practitioners
• States will establish their respective State Medical Councils and will have a role similar to the NMC, at the state level.

How the new commission address various issues ?

• State Medical Council deals with complaints relating to professional or ethical misconduct against a registered medical practitioner.
  • Medical practitioner is aggrieved of a decision of the State Medical Council he can appeal to the Ethics and Medical Registration Board.
• The doctor to population ratio in India was 1:1655 compared to the World Health Organisation standard of 1:1000.
  • The Bill provides for the NMC to grant limited license to certain mid-level practitioners called community health providers, connected with the modern medical profession to practice medicine.
  • These practitioners may only prescribe medicine under the supervision of a registered medical practitioner.

Source : The Hindu

Topic

GS II : Government policies and interventions for development in various sectors and issues arising out of their design and implementation

Extension Of Debt Freeze G7

Why in News ?

G7 backs extension of debt freeze as the coronavirus attacked global economies recently. G7 finance ministers backed an extension of a G20 bilateral debt relief initiative for the world’s poorest countries.

• But it must be revised to address shortcomings hindering implementation.

Extension of debt freeze

• Some nations will need further debt relief going forward
  • Urged the Group of 20 major economies and Paris Club creditors to agree on terms by next month’s meeting of G20 finance ministers.
• Private creditors to implement the Debt Service Suspension Initiative (DSSI) on a voluntary basis when requested by eligible borrowers.
• Group also called on multilateral development banks, such as the IMF and World Bank to further explore the options for the suspension of debt service payments over the suspension period.
• Besides private creditors to participate in the initiative on comparable terms.
• Criticism over China
  • In order to avoid the participation countries like China classify State-owned financial institutions as commercial lenders.

Source : The Hindu

Topic

GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

JIMEX-20 Between India and Japan

Why in News ?

JIMEX-20 Between India and Japan a bilateral exercise. 4th edition of India – Japan Maritime bilateral exercise JIMEX, which is conducted biennially between the Indian Navy and Japanese Maritime Self-Defense Force (JMSDF).

About JIMEX-20

• It will be held in North Arabian Sea from 26 to 28 September 2020.
• JIMEX series of exercises commenced in January 2012 with special focus on maritime security cooperation.
• The last edition of JIMEX was conducted in October 2018 off Visakhapatnam, India.
• JIMEX 20 will be spread over three days and is being conducted in a ‘non-contact at-sea-only format’, in view of COVID-19 restrictions.
• Representing the Indian Navy.
  • Indigenously built stealth destroyer Chennai
  • Teg Class stealth frigate Tarkash
  • Fleet Tanker Deepak

Importance of JIMEX-20 Exercise

• Naval cooperation between India and Japan has increased in scope and complexity over the years.
• Advanced level of operations and exercises planned during JIMEX-20 are indicative of the continued upswing in Indo-Japanese defence relations.
• Continued efforts by both Governments to work closely for a more secure, open and inclusive global commons, in accordance with international regulations.
• JIMEX 20 will showcase high degree of inter-operability and joint operational skills through conduct of a multitude of advanced exercises across the spectrum of maritime operations.
• Multi-faceted tactical exercises involving weapon firings, cross deck helicopter operations and complex surface, anti-submarine and air warfare drills will consolidate coordination developed by the two navies.
• JIMEX 20 will further enhance the cooperation and mutual confidence between the two navies.
  • Also fortify the long standing bond of friendship between the two countries.

Source : PIB

Topic

Prelims : About JIMEX-20 Exercise

NASA’s sonification project

Why in News ?

NASA’s sonification project that turns astronomical images into music. NASA’s Chandra X-Ray Center (CXC) has gone a step further by unveiling a new ‘sonification’ project that transforms data from astronomical images into audio.

NASA’s sonification project

• What is Sonification ?
  • Data sonification refers to the use of sound values to represent real data.
  • It is the auditory version of data visualisation.
  • NASA’s Chandra project, for instance, data is represented using a number of musical notes.
  • Users can now experience different phenomena captured in astronomical images as an aural experience.
    • The birth of a star, a cloud of dust or even a black hole can now be ‘heard’ as a high or low pitched sound.
• Technology Behind the process
  • Telescopes in space collect inherently digital data, in the form of ones and zeroes, before converting them into images.
  • The images are essentially visual representations of light and radiation of different wavelengths in space, that can’t be seen by the human eye.
  • Chandra project has created a celestial concert of sorts by translating the same data into sound.
    • Pitch and volume are used to denote the brightness and position of a celestial object or phenomenon.

Use of Sonification Process

• Aims to incorporate NASA science content into the learning environment effectively and efficiently for learners of all ages.
• Over the years, NASA has been working towards making data about space accessible for a larger audience.
• According to a statement released by team Chandra, sonification projects like this allow audiences including visually-impaired communities to experience space through data.

Source : Indian Express

Topic

GS III : Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights

Fact For Prelims 26 September 2020

Fridays For Future

Why in News ?

Students and youth under the banner of Fridays For Future (FFF), a global movement demanding climate justice, protested outside the Union Environment Ministry. 

• History Behind
  • FFF is a global climate strike movement that started in August 2018, when 15-year-old Greta Thunberg began a strike in Sweden.
  • She sat outside the Swedish Parliament every school day, demanding urgent action on the climate crisis that turned into a global movement. 
  • One of the main goals of the movement is to put moral pressure on policy-makers, to make them listen to scientists and then to take action to limit global warming.
• Why FFF in India ?
  • Frequency of extreme weather events is increasing exponentially
  • the government has passed many damaging legislations and rules, including the EIA 2020 and public consultation on environment laws are almost zero.
  • FFF is trying to make awareness of the environment damaging provisions in Draft Environment Impact Assessment, 2020.

Current Affairs 26 September 2020 : Our major Sources for the Current Affairs are The Hindu, Indian Express, PIB, Down To Earth etc. For more queries and mentor-ship please contact us.