‘Bad bank’ setup and guarantee programme announced by Government to clear the NPA mess:

GS Paper 3 Topics Covered: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.   Context: The government has set up two new entities to acquire stressed assets from banks and then sell them in the market.   Mechanism envisioned: The “National Asset Reconstruction Company Limited” (NARCL) has already been incorporated …

AUKUS Alliance:

GS Paper 2 Topics Covered: Important International institutions, agencies and fora, their structure, mandate.   Context: The UK, US and Australia have announced a historic security pact in the Asia-Pacific, in what’s seen as an effort to counter China. It is called the AUKUS pact and AUKUS alliance.   About the AUKUS Pact: Under the AUKUS …

Collective Security Treaty Organization:

GS Paper 2 Topics Covered: Bilateral, Regional and Global Groupings and agreements involving India.   Context: The Collective Security Treaty Organisation (CSTO) is planning to hold large military drills in Tajikistan next month, amid what it described as a deteriorating situation in neighbouring Afghanistan.   Implications and rationale behind this: Tajikistan is the only country out …

World Bank discontinues Doing Business rankings:

GS Paper 2 Topics Covered: Important International institutions, agencies and fora, their structure, mandate.   Context: The World Bank Group has decided to discontinue publication of its ‘Doing Business’ rankings of country business climates after a review of data irregularities in the 2018 and 2020 reports.   What’s the issue? In August 2020, World Bank paused …

National Financial Reporting Authority (NFRA):

GS Paper 2 Topics Covered: Statutory, regulatory and various quasi-judicial bodies.   Context: National Financial Reporting Authority (NFRA) Chairperson has pitched for a ‘standalone legislation’ for the regulator in the interests of autonomy. He also demanded that all necessary penal provisions relating to financial reporting should be consolidated and vested with it.   Why this is …