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Law does not allow for abrupt removal: experts
WHAT’S IN THE NEWS? The Supreme Court has to examine whether the government and the Central Vigilance Commission (CVC) can unilaterally remove the CBI Director on the assumption that the move will restore public faith in the country’s premier investigative agency.
When CVC has the say? The DSPE Act gives the Centre the power of superintendence over the CBI “in all other matters.”
THE IMPLICATION : The provisions allow the commission to exercise superintendence over the CBI and give directions in relation to the investigation of corruption cases.
POINT TO NOTE : Section 4B(2) of the DSPE Act: Which mandates that the CBI Director cannot be “transferred” without the previous consent of a high-power committee chaired by the Prime Minister.
Firstly: The CBI Director is appointed on the recommendation of this committee which has the Leader of the Opposition and the Chief Justice of India as members.
FINAL PROVISION : SECTION 4C PROVISION: This provision clearly says that the CVC has no role, whatsoever, in curtailing or extending the tenure of the CBI Director.
Cabinet panel clears new rail line for U.P.
WHAT’S IN THE NEWS? The Cabinet Committee on Economic Affairs approved a new railway line between Bahraich and Khalilabad (in Uttar Pradesh) with an estimated project cost of Rs. 4,939.78 crore.
EXTENT : The total length is 240.26 km.
DEAD -LINE OF THE PROJECT: Is expected to be completed by 2024-25.COMPLETION
What are the four districts falling in this project length? Bahraich, Balrampur, Shravasti and Siddharth Nagar are among the 115 aspirational districts identified by the NITI Aayog.
Uses of this project: This project is needed for better socio-economic development.
HC moved for ban on entry of non-Hindus
WHAT’S IN THE NEWS? A writ petition was filed in the Kerala High Court seeking a ban on entry of non-Hindus into the Sabarimala temple.
THE RELEVANT LEGAL PROVISIONS :
NON- HINDU PROHIBITION : In his petition, enforcement of Rule 3 (a) framed under the Kerala Hindu Places of Public Worship (Authorisation of entry) Act, 1965, which prohibits entry of non-Hindus into temples.
WOMEN PROHIBITION : Rule 3 (b): Prevented entry of women at such time during which they were not allowed by custom and usage to enter a place of public worship.
However!!! The clauses (a), (c), (d), (f) of the rules were still in force and petition still pending.
SC bans sale of BS-IV vehicles from 2020
WHAT’S IN THE NEWS? The Supreme Court banned the sale and registration of motor vehicles conforming to the emission standard Bharat Stage-IV in the entire country from April 1, 2020.
WHAT IS BS EMISSION NORMS ? Bharat Stage (BS) emission norms are standards instituted by the government to regulate output of air pollutants from motor vehicles.
REASON : ‘No compromise on public health’: There cannot be any compromise on the health of citizens and this has to take precedence over the “greed” of a few automobile manufacturers who want to stretch the timeline.
Israel, India sign $777 mn missile deal
WHAT’S IN THE NEWS? Israel Aerospace Industries (IAI) has signed a $777 mn deal with Bharat Electronics Limited (BEL).
FOR WHAT ? To supply additional Barak-8 Long Range Surface to Air Missile (LRSAM) systems for seven warships of the Indian Navy.
Centre’s nod for Rs. 7,522 cr. fisheries fund
WHAT’S IN THE NEWS? The Centre has set up a Rs. 7,522-crore fund.
FOR WHAT? To create infrastructure facilities for the fisheries sector and help boost annual fish production to 20 million tonnes by 2022-23.
CURRENT POSITION : Current production of 11.4 million tonnes.
Punjab bans sale of herbicide
WHAT’S IN THE NEWS? The Punjab government has banned the sale of the herbicide, glyphosate.
REASON FOR THE BAN : “This chemical is used for group 2A cancer-causing material.It also use for other health problems.
Sri Lanka to seek Chinese help to probe ‘assassination plot’
WHAT’S IN THE NEWS? Sri Lankan authorities will seek Chinese assistance to tap evidence pertaining to an “assassination plot” said to be targeting President Maithripala Sirisena.
Why Chinese assistance ? It is for technical expertise to recover data from a phone manufactured by it.
Why it is important to us ? An Indian national was arrested in Sri Lanka on suspicion of involvement in the plot.
Liquidity squeeze hurts NBFCs
WHAT’S IN THE NEWS?
With concern over repayment of dues, shadow banks are caught in a vicious cycle
What’s up with NBFCs? Shares of non-banking financial companies (NBFCs) have witnessed a steep fall in recent weeks after concerns over whether they can successfully meet their short-term dues.
Housing finance companies (HFCs) in particular have seen their shares punished severely over fears of a severe liquidity crisis.
How did they get into trouble? Many NBFCs use short-term loans borrowed from the money market to extend long-term loans to their customers.
Further, NBFCs also face the risk of having to pay higher interest rates each time they refinance their short-term debt.
What lies ahead ? NBFCs, for instance, may continue to borrow short-term to extend long-term loans to their customers because they expect the government to bail them out if they get into trouble.
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