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InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their static or theoretical background. This helps you study a topic holistically and add new dimensions to every current event to help you think analytically


Table of Contents:

GS Paper 2:

1. Minority status of religious, and linguistic communities is State-dependent: SC

2. Tele-Law service is being made free of cost

3. Draft medical devices Bill


GS Paper 3:

1. A glossary for the troubled global economy

2. Panel on MSP, natural farming setup

3. Risk-reduction strategies using traditional knowledge


GS Paper 4:

1. Civil Service Values – Pranab Mukherjee


Content for main enrichment

1. ‘Jeevan Shala’


Facts for Prelims:

1. Sannati

2. Bonalu Festival

3. Karakoram Anomaly

4. RBI recommends ban on Cryptocurrencies

5. Vaccination in India


Minority status of religious, and linguistic communities is State-dependent: SC

GS Paper 2

Syllabus: Mechanism, laws, institutions and Bodies constituted for the protection and betterment of vulnerable sections of society, minority status etc


Source: The Hindu


  • Every person in India can be a minority in one State or the other. The minority status of religious and linguistic communities is “State-dependent”, the Supreme Court said.
  • The court was hearing a petition filed by a Mathura resident, Devkinandan Thakur, complaining that followers of Judaism, Bahaism and Hinduism, who are the real minorities in Ladakh, Mizoram, Lakshadweep, Kashmir, Nagaland, Meghalaya, Arunachal Pradesh, Punjab and Manipur cannot establish and administer educational institutions of their choice because of non-identification of ‘minority’ at State level, thus jeopardizing their basic rights guaranteed under Articles 29 and 30.


Key Highlights:

  • Minorities can claim protection under Articles 29 and 30: The court indicated that a religious or linguistic community which is a minority in a particular State can inherently claim protection and the right to administer and run its own educational institutions under Articles 29 and 30 of the Constitution.
  • Hindus minorities in many states: He pointed out that Hindus were a mere 1% in Ladakh, 2.75% in Mizoram, 2.77% in Lakshadweep, 4% in Kashmir, 8.74% in Nagaland, 11.52% in Meghalaya, 29% in Arunachal Pradesh, 38.49% in Punjab and 41.29% in Manipur.
  • Power of the centre to notify minorities: Mr Datar challenged Section 2(c) of the National Commission for Minorities (NCM) Act 1992, which gave “unbridled power” to the Centre to notify minorities.


TMA Pai Case:

The SC had said that for the purposes of Article 30 which deals with the rights of minorities to establish and administer educational institutions, religious and linguistic minorities have to be considered state-wise.



Constitutional Provisions for Minority:

Article 29:

  • It provides that any section of the citizens residing in any part of India having a distinct language, script or culture of its own, shall have the right to conserve the same.
  • It grants protection to both religious minorities as well as linguistic minorities.
  • However, the SC held that the scope of this article is not necessarily restricted to minorities only, as the use of the word ‘section of citizens’ in the Article includes minorities as well as the majority.


Article 30:

  • All minorities shall have the right to establish and administer educational institutions of their choice.
  • The protection under Article 30 is confined only to minorities (religious or linguistic) and does not extend to any section of citizens (as under Article 29).


Article 350-B:

The 7th Constitutional (Amendment) Act 1956 inserted this article which provides for a Special Officer for Linguistic Minorities appointed by the President of India.

It would be the duty of the Special Officer to investigate all matters relating to the safeguards provided for linguistic minorities under the Constitution.


Insta Links:

National Commission for Minorities(NCM)


Practice Questions:

Q. Do the government’s schemes for uplifting vulnerable and backward communities by protecting required social resources for them, lead to their exclusion in establishing businesses in urban economies? (UPSC 2014)


Consider the following statements:

    1. Compared to Article 29, the protection under Article 30 is only confined to religious minorities
    2. The constitution provides for a Special Officer for Linguistic Minorities to be appointed by the President of India.

Which of the statements given above is/are not correct?

    1. 1 only
    2. 2 only
    3. Both 1 and 2
    4. Neither 1 nor 2

Ans: (a)


Refer to the table above

Tele-Law service is being made free of cost for citizens from this year- Minister of Law and Justice

GS Paper 2

Syllabus: Laws, institutions and bodies for betterment and protection of vulnerable sections of society, Tele-Law etc


Source: PIB


  • From this year, Tele-Law service is being made free of cost for citizens in the country,” Minister of Law and Justice at the 18th All India Legal Services Meet at Jaipur.
  • The Department of Justice, Ministry of Law & Justice and National Legal Services Authority (NALSA) exchanged a Memorandum of Understanding (MoU) on Integrated Delivery of Legal Services.
  • During last year a total of 21,148 meetings of the UnderTrial Review Committee(UTRCs) were held resulting in the release of 31,605 undertrial inmates.


Key Highlights:

  • Legal aid to marginalized: Tele–Law mainstreams legal aid to the marginalized seeking legal help by connecting them with the Panel Lawyers through the tele/video-conferencing infrastructure available at Common Service Centers (CSCs) across 1 lakh Gram Panchayats.
  • Tele Law application: For easy and direct access Tele- Law Mobile Application (both Android and IoS) has also been launched in 2021 and it is presently available in 22 scheduled languages.
  • Widening of service to beneficiaries: Benefitting from this digital revolution, Tele-Law has widened the outreach of legal services to 20 Lakh + beneficiaries in just five years.
  • NALSA to provide lawyers: Under the provision of the MoU, NALSA would provide the services of 700 lawyers, in each district exclusively for the Tele-Law program.
    • These empanelled lawyers would now also act as referral lawyers and also assist in strengthening the mechanism for dispute avoidance and dispute resolution at the pre-litigation stage.

Insta Links:




Practice Questions:

Q. Performance of welfare schemes that are implemented for vulnerable sections is not so effective due to the absence of their awareness and active involvement at all stages of the policy process – Discuss. (UPSC 2019)


Which of the following visions of the Digital India programme is/are enabled by Common service centres (CSCs)?

    1. Digital infrastructure is a core utility to every citizen.
    2. Governance and services on demand.
    3. Digital empowerment of citizens.

Select the correct answer using the codes given below:

    1. 1 and 3 only
    2. 2 and 3 only
    3. 2 only
    4. 1, 2 and 3

Ans: (d)


CSCs enable the three vision areas of the Digital India programme:

  • Digital infrastructure is a core utility to every citizen.
  • Governance and services on demand.
  • Digital empowerment of citizens

What the draft medical devices Bill says and what it does not

GS Paper 2

Syllabus: Issues related to the social sector involving healthcare, schemes for vulnerable sections of society, medical devices etc


Source: Indian express


  • The Union Health Ministry last week released a draft of a proposed Drugs, Medical Devices and Cosmetics Bill, 2022 to replace the existing Drugs and Cosmetics Act, 1940, and several sets of Rules by which the industry is currently run.
  • The draft focuses on regulating medical devices as a separate entity, makes provision for fines and imprisonment for injury and death related to clinical trials or investigations, and seeks to regulate e-pharmacies.


Key Provisions:

  • Online pharmacies: No provisions to regulate online pharmacies exist in the 1940 law or any of the Rules.
    • No person shall himself or by any other person on his behalf sell, stock or exhibit or offer for sale, or distribute, any drug by online mode except under and in accordance with a license or permission issued in such manner as may be prescribed.
  • Clinical trials and investigations: The draft Bill makes provisions for compensation to participants or their legal heirs for injury or death suffered in clinical trials and investigations for drugs and medical devices.
    • The draft also lays the onus on providing medical management for any injury arising due to the trial of the investigators.
  • Imprisonment and fine: It amounts to double the compensation amount if the compensation is not paid.
    • If the draft Bill becomes law, these provisions will be part of it, and will not be restricted to just clinical trial Rules.
  • Prohibits clinical trials: The draft Bill prohibits clinical trials or clinical investigations of drugs and medical devices without permission from the central licensing authority.
    • While companies have to seek permission from the regulator to conduct trials even now, this is not specifically mentioned in the existing law.
  • Medical devices: Under the ambit of medical devices defined by the draft Bill are diagnostic equipment, their software, implants, devices for assistance with disabilities, life support, instruments used for disinfection, and reagents or kits.
    • The 1940 Act has medical devices as one of four categories of “drugs”.
  • Medical Devices Technical Advisory Board: To make decisions on regulating medical devices, the draft Bill provides for creating a Medical Devices Technical Advisory Board on the lines of the existing drugs technical advisory board, with people who have technical knowledge of the engineering of these devices, and members of the industry.
    • Other than officials of the Health Ministry, the board will have officials from:
      • Department of Atomic Energy
      • Department of Science and Technology
      • Ministry of Electronics and Information Technology
      • Defense Research and Development Organization
      • Experts from the fields of biomedical technology, biomaterials, and polymer technology
    • Imprisonment or fines for adulterated or spurious medical devices: It defines provisions for imprisonment or fines for “adulterated” or “spurious” medical devices.
      • The draft states that a medical device will be considered to be adulterated if it is rusted, corroded, filthy, putrid, decomposed, packed or stored in unsanitary conditions, contains harmful or toxic substances, or has any component or software removed making it unsafe.
    • Medical devices to be spurious: The draft Bill deems a medical device to be spurious if it carries the label of a fictitious company or is purported to be of a manufacturer that has not manufactured it.

Insta Links:

Drugs and Cosmetic Rules, 1945


Practice Questions:

Q. Critically analyze the provisions of the Drugs and Cosmetics Act, 1940 and discuss the key changes suggested in the Drugs, Medical Devices and Cosmetics Bill, 2022.


With reference to the Drugs and Cosmetics Act, 1940, consider the following statements:

    1. The Act regulates the import, manufacture, and distribution of drugs in India.
    2. It provides for the medical devices technical advisory board.

Which of the statements given above is/are correct?

    1. 1 only
    2. 2 only
    3. Both 1 and 2
    4. Neither 1 nor 2

Ans: (a)


Drugs and Cosmetics Act, 1940:

  • The Act regulates the import, manufacture, and distribution of drugs in India.
  • The primary objective of the act is to ensure that the drugs and cosmetics sold in India are safe, effective and conform to state quality standards.
  • The medical devices technical advisory board is provided by the Drugs, medical devices and cosmetics bill, 2022 along the lines of the existing drugs technical advisory board.

A glossary for the troubled global economy

GS Paper 3

Syllabus: Economy


Source: Indian Express

Context: US’ inflation rate was at 9.1% in June, the highest in 40 years, and FED action to increase the interest rate has led to few terms coming up in focus.

Bond yield curve inversion

  • Bonds are essentially an instrument through which governments (and also corporations) raise money from people. Typically government bond yields are a good way to understand the risk-free interest rate in that economy.
  • The yield curve is the graphical representation of yields (profit) from bonds. E.g. If one was to take the Indian government bonds of different tenures and plot them according to the yields they provide, one would get the yield curve.

  • Under normal circumstances: any economy would have an upward sloping yield curve (meaning normal profit from investment in the bond).
  • Inverted Bond yield curve: As one buys bonds of longer tenure — one gets higher yields. This is logical. If one is parting with money for a longer duration, the return should be higher.
    • However, An inversion of the yield curve essentially suggests that investors expect future growth to be weak.
    • For instance, bonds with a tenure of 2 years end up paying out higher yields (returns/ interest rate) than bonds with a 10-year tenure.


Mechanism:  When investors feel buoyant about the economy they pull the money out from long-term bonds and put it in short-term riskier assets such as stock markets. In the bond market, the prices of long-term bonds fall, and their yield (effective interest rate) rises. This happens because bond prices and bond yields are inversely related.

However, when investors suspect that the economy is heading for trouble, they pull out money from short-term risky assets (such as stock markets) and put them in long-term bonds. This causes the prices of long-term bonds to rise and their yields to fall.


Over the years, inversion of the bond yield curve has become a strong predictor of recessions. In the current instance, the US Fed (their central bank) has been raising short-term interest rates, which further bumps up the short-end of the yield curve while dampening economic activity.



When a central bank is successful in slowing down the economy without bringing about a recession, it is called a soft-landing — that is, no one gets hurt. But when the actions of the central bank bring about a recession, it is called hard-landing.

  • Given the massive gap between the current US inflation rate — over 9%— and the Fed’s target inflation rate — 2% — most observers expect that the Fed would have to resort to such aggressive monetary tightening that the US economy will end up having a hard landing.

Reverse Currency War

As the US FED rate increases, the investor finds it more attractive and less risky. So, more and more investors are rushing to invest money in the US. This, in turn, has made the dollar become stronger than all the other currencies.

  • The relative weakness of their local currency against the dollar makes their exports more competitive. This can be good for economies.
  • However, today, every central bank is trying to counter the US Fed and raise interest rates themselves in order to ensure their currency doesn’t lose too much value against the dollar. This has been termed ‘reverse currency war’. E.g. India being import dependent, a weaker currency would mean a higher import bill and therefore RBI is trying to defend Indian Rupee against Dollar.


Related News:

“Zero-coupon zero principal instrument” (ZCZP) means an instrument issued by a Not for Profit Organisation which shall be registered with the Social Stock Exchange segment of a recognised StockExchange.

  • These are meant for NGOs and on it, NGOs are not required to pay principal or interest after the completion of the project.

Recently, the Ministry of Finance has declared ZCZP as securities.

  • Securities are fungible and tradable financial instruments used to raise capital in public and private markets. There are primarily three types of securities: equity—which provides ownership rights to holders; debt—essentially loans repaid with periodic payments; and hybrids—which combine aspects of debt and equity.


Insta Links

US FED raises rate by 75 basis point


Practice Questions

Q. Discuss the trends of recession faced by India in the past. Will the recent action by US Central Bank induce a risk of recession for other economies such as India? Analyze. (15M)


Q . With reference to the Indian economy, consider the following statements: (UPSC CSE 2022)

    1. If the inflation is too high, the Reserve Bank of India (RBI) is likely to buy government securities.
    2. If the rupee is rapidly depreciating, RBI is likely to sell dollars in the market.
    3. If interest rates in the USA or European Union were to fall, that is likely to induce RBI to buy dollars.

Which of the statements given below is/are correct?

    1. 1 and 2 only
    2. 2 and 3 only
    3. 1 and 3 only
    4. 1, 2 and 3

Answer: (b)


Statement 1 is incorrect: To control inflation, the RBI sells the securities in the money market which sucks out excess liquidity from the market. As the number of liquid cash decreases, demand goes down. This part of monetary policy is called the open market operation.

Statement 2 is correct: If the rupee is depreciating, RBI pumps the dollar into the market, this results in an increase in foreign currency supply and a decrease in Rupee supply, thus appreciating its value.

Statement 3 is correct: If interest rates in US and EU fall, investors would like to park more money in emerging markets such as India for better returns, thus Indian market would be flooded with foreign currency. To stabilize it, RBI would likely buy excess dollars.


With reference to the Indian economy, what are the advantages of “Inflation-Indexed Bonds (IIBs)”? (UPSC 2020)

    1. Government can reduce the coupon rates on its borrowing by way of IIBs.
    2. IIBs provide protection to investors from uncertainty regarding inflation.
    3. The interest received as well as capital gains on IIBs are not taxable.

Which of the statements given above are correct?

(a) 1 and 2 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Answer: A

The coupon rate is the rate of interest paid by bond issuers on the bond’s face value. Inflation-indexed bonds (IIBs) provide insurance to investors from inflation and cost savings for the Government on account of a reduction in coupon payments by lowering the inflation rate, eliminating of uncertainty risk premium, and containing inflationary expectations.

Statement 3: Extant tax provisions will be applicable on interest payment and capital gains on IIBs. There will be no special tax treatment for these bonds.

Panel on MSP, natural farming setup

GS Paper 3

Syllabus: Issues related to direct and indirect farm subsidies and minimum support prices


Source: The Hindu

Context: The government constituted a committee headed by former Union Agriculture Secretary Sanjay Agrawal to look into the issues of minimum support price (MSP)

  • Background: The government had announced the decision to repeal the three farm laws and said it will constitute a  committee to promote zero budget-based farming, change crop patterns keeping in mind the changing needs of the country and make MSP more effective and transparent.
  • Members: Committee will consist of representatives of the Central and State governments, farmers, agricultural scientists and agricultural economists.

Objectives of the committee:

  • On agricultural marketing system: It will work for Agri marketing as per the changing requirements of the country to ensure higher value to the farmers through remunerative prices of their produce by taking advantage of the domestic output and export.
  • On natural farming: It will suggest programmes and schemes for value chain development, protocol validation and research for future needs and support for area expansion under the Indian Natural Farming System.
  • On crop diversification: It will look into the mapping of existing cropping patterns of agro-ecological zones of producer and consumer States.
  • Review and suggestion on micro irrigation scheme


Evolution of MSP regime in India:

Need for MSP:

  • Support farmers from distress sales.
  • To procure food grains for public distribution
  • To safeguard farmers from market price fluctuations.
  • Maintain a healthy supply of food grains in the market thereby helping in the fight against hunger.
  • Theguaranteed price for the crops and assured markets encourage higher investment and adoption of modern farming practices. 


Related News

As per a study by the State Bank of India, only 50% of the intended beneficiaries of the farm loan waivers announced since 2014 have received actual debt write-off benefits.

    • Reasons for low reach: Rejection of claims by the state government, change in policies and government
    • The average income of farmers grew only by 1.3-1.7 times during 2017-18 and 2021-22.
    • Kisan Credit card and MSP have been instrumental in benefiting farmers.
    • SHG have around 10% NPA across India.


Insta Links

On-farm laws repeal


Practice Questions

Q. Tracing the evolution of the Minimum Support Price regime in India, discuss how MSP has caused – Concentration of markets, Negative externalities, and High transaction costs. What steps can be taken to address these to ensure better remuneration to farmers and stimulate the rural economy? (15M)


Q .Consider the following statements: (UPSC CSE 2020)

    1. In the case of all cereals, pulses and oil seeds, the procurement at a Minimum Support Price (MSP) is unlimited in any State/UT of India.
    2. In the case of cereals and pulses, the MSP is fixed in any State/UT at a level to which the market price will never rise.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer: D

Procurement is not unlimited since buffer stock is limited. Market price has no link with MSP.

Risk-reduction strategies using traditional knowledge

GS Paper 3

Syllabus: Disaster Management


Source: UNDRR

Context: Indigenous peoples’ understanding of disaster risk uses an enormous dataset – traditional knowledge and folklore reaching back many generations. It was highlighted in the recently concluded Global Platform For Disaster Risk Reduction 2022 (GP2022) in Bali.

These indigenous practices have used traditional knowledge, alongside modern techniques, to help manage disaster risk: 

  • Cultural burning ( Ancient Australian technique to reduce bushfire):  Controlled fires in small areas burn, reducing undergrowth and dead wood while preserving larger trees and allowing wildlife to escape
  • Natural flood management(age-old traditional forecasting and flood-prevention methods to limit the risks of seasonal flooding in Nepal and the Tibetan Plateau):
    • These include planting flood-resistant crops and digging drainage ditches and moats.
    • Community-based early warning systems using environmental indicators: Observations of changes in cloud shapes, rainfall patterns, fauna activity, wind velocity, star positions and temperatures help anticipate floods and trigger preparations to minimize their impacts.
    • Traditional remedies after flooding – like using green coconut milk to treat diarrhoea, cholera and dysentery – help with recovery, alongside any modern medical treatments that might be available.
  • Safe areas(In Sulawesi, Indonesia, the Kailli communities have passed on historical knowledge of natural hazards):  Folksongs recount past experiences of disasters and pass on lessons learnt from predecessors about a range of hazards and their causes: tsunamis, earthquakes, and ground liquefaction resulting from earthquakes.
    • The villages include safe areas, known as ‘Kinta’, which have always been used as refuges during seismic events.


Global Platform For Disaster Risk Reduction 2022 (GP2022)

7th session recently concluded in Bali, Indonesia.

Key outcomes of Bali Agenda for Resilience are:

  • Human rights-based approach and  holistic whole-of-society approach  to diaster risk reduction (DRR)
  • DRR at centre of policies and finance for government

GP2022: It is a platform to assess the implementation of Sendai Framework on DRR (2015-2030)


Sasakawa Award for Disaster Risk Reduction:  It honours practices and efforts made by institutions, individuals and groups that have best contributed to building resilience through a multi-hazard approach.

  • It focuses on the promotion of inclusive and resilient approaches in disaster risk reduction.

One of the three awardee this year is Rajib Shaw (Professor at a university in Japan):  He has championed multi-hazard community-based disaster risk reduction in six Asian countries, and his work has led to the establishment of village-level community-based working groups.


Inta Links

United Nations Office for Disaster Risk Reduction (UNISDR)


Practice Question:

Q. Discuss the need for Disaster risk reduction in India. What are the challenges involved and explain the global efforts in this direction? (250 words) 

Civil Service Values – Pranab Mukherjee

GS Paper 4


Kautilya in the ancient treatise “Arthashastra” writes:

“The happiness of the people is the happiness of the king; Their good alone is his, his personal good is not his true good; the only true good being that of his people: Therefore let the King be active in working for the prosperity and welfare of his people”

Pranab Mukherjee’s speeches on the occasion of the fourth UPSC foundation day lecture on “Governance and Public Service” and as a guest faculty for the “Public Policy for Inclusive Development of India” course at IIM-Ahmedabad in 2018 are value-loaded urges for good governance and spoke of the hurdles in bureaucracy that need to be rectified.


Importance of civil services in India’s development:

  • Reinforcing our democratic values.
  • Instrument of economic growth and social change.
  • Assists the government in formulating and implementing policies for national development.
  • Nation-building require close interaction and cooperation between the civil servants and the people

What are some best examples, which display the efficiency in governance?

  • The Right to Information Act
  • The Direct Benefits Transfer Scheme
  • The Right of Citizens for Time Bound Delivery of Goods and Services and Redressal of their Grievances Bill, 2011 envisages the citizens to receive time-bound services

What has been the biggest challenge in governances and bureaucracy despite success?

  • Corruption
  • “Isolationism” –inculcated the habit of thinking in silos.
/ 19 Jul CA, Today's Article

Content for main enrichment

How Bhils in Maharashtra, Madhya Pradesh set an example through ‘Jeevan Shala’

When the state of tribal education in the country remains dismal and most government schools in India’s tribal areas are only on paper, the Bhil community opened up schools called “Jeevan Shala” for their children.

The students attending the schools are educated not just in regular subjects but also about water, forests and land. They are introduced to all the herbs found in the forest as well as edible tubers. They are informed about their uses and consumption.

Other such initiatives:

The ‘Shaala Sangwari’ project in Chhattisgarh’s Kabirdham district aims to employ educated Baiga tribal youth by making them teach their community’s children in primary and middle schools.


Facts for Prelims



The Archaeological Survey of India has now taken up conservation work at this important Buddhist site near Kalaburagi.

It is an ancient Buddhist site on the bank of the Bhima river near Kanaganahalli in the Kalaburagi district.

The Kanaganahalli excavation opened up many marvels :

Magnificent Maha Stupa, which was referred to as Adholoka Maha Chaitya (the Great Stupa of the netherworlds) in the inscriptions and, more significantly, the stone portrait of Emperor Ashoka, surrounded by his queens and female attendants considered to be the only surviving image of the Mauryan Emperor which had the inscription ‘Raya Asoko’ in Brahmi on it.


Bonalu Festival

The festival is dedicated to Goddess Mahakali, thanking her for fulfilling the wishes of her devotees.

Bonalu is a popular festival celebrated in Hyderabad and Secunderabad. Apart from Yellamma, during the Bonalu festival, the different forms of Mahakali are worshipped, including Mysamma, Dokkalamma, Pedamma, Pochamma, Yellamma, Poleramma and Ankalamma.

During this, the devotees offer rice cooked with milk and jaggery in an earthen or brass pot, which is decorated with neem leaves, turmeric and vermilion. Women carry these pots on their heads to temples.


 Karakoram Anomaly

‘Karakoram Anomaly’ is the abnormal growth of glaciers in the central Karakoram (whereas in other parts, there has been a retreat of glaciers)

In a paper published in the American Meteorological Society’s Journal of Climate, has for 1st time found that  winter precipitation associated with Western Disturbance (WD) has been triggering and sustaining this anomaly.



RBI recommends ban on Cryptocurrencies

Context: Speaking in Lok Sabha FM said RBI is of the view that cryptocurrencies should be prohibited.


  • Cryptocurrency, not a currency: Cryptocurrencies are not a currency because every modern currency needs to be issued by the Central Bank / Government.
    • The value of fiat currencies is anchored by monetary policy and their status as legal tender, however, the value of cryptocurrencies rests solely on speculations.
  • Need for International Law: Crypto require international collaboration to prevent regulatory arbitrage.
    • RBI has recommended to the government that it should frame regulations for cryptocurrencies.
  • Regulations in place: Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT), obligations under Prevention of Money Laundering Act (PMLA), 2002, Foreign Exchange Management Act (FEMA) (for overseas remittances)



Vaccination in India

India has achieved over 200cr vaccinations against CoVID-19 in a record period of just 18 months. At the global level, in over a year, more than 12.2 billion doses have been administered across 184 countries.


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