10-November-2023-Daily-Current-Affairs

ONLINE GAMBLING BAN WON’T APPLY TO POKER, RUMMY: HC

GS 2 (POLITY AND GOVERNANCE): SOURCE – THE HINDU

The Madras High Court has made a significant ruling on the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act, 2022. Contrary to calls to strike down the entire act, the court has narrowed the prohibition scope, excluding games of skill like poker and rummy.

               

Legal Landscape in India:

• State Jurisdiction: Historically, online gaming has fallen under state jurisdiction, leading to challenges in uniform enforcement.
• Inconsistent Regulations: States face difficulties enforcing rules uniformly, creating regulatory inconsistencies.
• Blocking Powers: State governments lack robust blocking powers, hindering their ability to issue orders against offshore betting sites.

Prohibition Limited to Chance-Based Games:

• The court clarified that the prohibition specified in the Act would only apply to games of chance.
• Games of skill, particularly poker and rummy, were exempted from the ban.
• The State failed to demonstrate how these skill-based games would transform into chance-based activities online.

Court’s Observations:

• Dismissed the State’s concern about potential bot usage as unfounded.
• Emphasized the lack of authentic evidence supporting the State’s assumptions.
• Stressed the similarity in brain activity between online and offline play.

Conclusion:

The court’s nuanced decision acknowledges the evolving landscape of digital entertainment. Recognizing poker and rummy as skill-based, the ruling aligns with the era of online gaming, emphasizing the parallel cognitive engagement in offline and online play. This judgment clarifies the definition of ‘online gambling,’ confining it to chance-driven activities under Section 2(i) of the Act.

SC UPHOLDS IBC PROVISIONS FOR PERSONAL GUARANTORS.

GS 2 (POLITY AND GOVERNANCE): SOURCE – FINANCAL EXPRESS

The Supreme Court has affirmed critical provisions of the Insolvency and Bankruptcy Code (IBC) pertaining to the initiation of the resolution process against personal guarantors of highly indebted firms. This decision restricts personal guarantors from being heard before the appointment of a resolution professional (RP) and activates a moratorium on their assets upon the filing of the insolvency petition.

Key Court Decision:

• Denial of Additional Layer: The court dismissed the petitioners’ plea seeking an additional layer in the adjudication process and an opportunity for personal guarantors to present their case before the appointment of an RP.
• Sections 95 to 100 Validated: The apex court upheld Sections 95 to 100 of the IBC, rejecting claims of arbitrariness. These sections establish the framework for the initiation of insolvency proceedings against personal guarantors.
• Rejection of Premature Adjudication: The court maintained that the present mechanism provides adequate provisions for personal guarantors to be heard at the appropriate stage before the Adjudicating Authority (AA).

Impact on Resolution Process:

• Immediate Moratorium: The decision activates the moratorium on personal guarantors’ assets as soon as the insolvency petition is filed, limiting their ability to challenge RP appointments.
• Speedier Handling: The court’s stance is seen as conducive to economic reforms and expeditious resolution of financially stressed corporates, emphasizing the RP’s balanced powers.

Legal Perspectives:

• Constitutionality Upheld: The judgment reinforces the constitutionality of the introduced provisions for personal guarantors’ insolvency resolution, expanding the scope beyond corporates.
• Vacation of Interim Order: The interim order preventing the submission of an RP report under Section 99 stands vacated, allowing the continuation of personal guarantor insolvency proceedings.

Industry Reaction:

• Positive Response: Legal experts view the decision as positive for economic reforms and credit institutions, enabling proactive measures against personal guarantors and potentially improving bad debt recovery.
• Strengthening Creditor Remedies: The verdict is expected to fortify creditors’ remedies, empowering lenders to initiate personal insolvency processes more effectively.

Conclusion:

The Supreme Court’s affirmation of IBC provisions for personal guarantors signifies a pivotal step in streamlining the insolvency resolution process, aligning with the legislative intent to enhance creditor remedies and address economic challenges promptly.

PSORIASIS PATIENTS CONTEND WITH LACK OF AWARENESS

GS 3 (SCIENCE AND TECHNOLOGY): SOURCE – THE HINDU

World Psoriasis Day, observed under the theme ‘Access for All,’ sheds light on the challenges faced by individuals battling psoriasis. This autoimmune disease not only affects the skin but also triggers joint-related complications. A lack of awareness, lifestyle factors, and inadequate insurance coverage contribute to the struggles faced by patients.

                   

Nature of Psoriasis:

• Autoimmune disease leading to skin rashes, commonly on the face, elbows, and knees.
• Various manifestations, with severe cases causing disability or joint complications.

Medical Insights:

Inflammatory Mechanisms:

• Muralidhar Rajagopalan underscores lifestyle-induced inflammation as a key factor.
• Abdominal fat and specific mediators exacerbate psoriasis; exercise and weight control are crucial.

Link to Cardiovascular Health:

• Psoriasis associated with cardiovascular events due to cytokines affecting blood vessels.
• Increased risks of diabetes, abnormal lipids, and hypertension emphasize holistic care.

Insurance Disparities:

• Developed countries recognize severe psoriasis for insurance coverage.
• In India, the condition is often perceived as cosmetic, lacking comprehensive insurance support.

Medical Professionals’ Perspectives:

Call for Disease Registry:

• Muralidhar advocates for a disease registry, making psoriasis reportable, and acknowledging associated disabilities.

Treatment Costs and Triggers:

• Treatment costs vary based on the disease stage.
• Triggers such as smoking, alcohol, drugs, and vaccinations can induce or worsen psoriasis.

Conclusion:

World Psoriasis Day highlights the multifaceted challenges faced by patients, encompassing social stigma, financial burdens, and disparities in medical recognition. Comprehensive awareness, a robust disease registry, and inclusive insurance policies are imperative for addressing the physical and mental well-being of individuals grappling with psoriasis. Medical professionals emphasize the significance of lifestyle modifications, early intervention, and a holistic approach to mitigate the impact of this autoimmune condition.

CENTRE FAULTS PUNJAB’S FARM FIRES FOR DELHI’S AIR POLLUTION PROBLEM

GS 3 (ENVIRONMENT): SOURCE – THE HINDU

Amidst deteriorating air quality in Delhi, a meeting chaired by the Cabinet Secretary, involving officials from Punjab, Haryana, Uttar Pradesh, Rajasthan, and Delhi, has identified stubble burning, particularly in Punjab, as the primary cause. The central government attributes 38% of the air pollution to stubble burning.

Stubble Burning Stats:

Punjab Dominance:

• Union Environment Minister Bhupender Yadav notes 93% of this year’s farm fire events occurred in Punjab.
• Alleges the Aam Aadmi Party’s failure to provide alternatives despite ₹1,426 crore aid since 2018.

Burning Events Data:

• Indian Agricultural Research Institute data reveals 65% of 35,350 burning events reported this year are from Punjab.
• Haryana reports 4%, Madhya Pradesh 8%, emphasizing Punjab’s dominance in crop residue burning.

Comparative Harvesting Data:

Haryana vs. Punjab Harvesting:

• Officials highlight 90% harvesting completion in Haryana, urging immediate measures.
• Punjab, with 60% harvesting, faces an urgent need to curb burning incidents.

Conclusion:

As Delhi grapples with severe air pollution, stubble burning, especially in Punjab, emerges as a significant contributor. The meeting underscores the pressing need for immediate steps to address the issue, emphasizing the imperative for effective alternatives to discourage farmers from resorting to burning crop residues.

WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO) RELEASED WORLD INTELLECTUAL PROPERTY INDICATORS 2023      

                                   GS 2 (POLITY AND GOVERNANCE): SOURCE – TIMES OF INDIA                                                                           

The World Intellectual Property Organization (WIPO) has released its World Intellectual Property Indicators 2023 report, providing key insights into global patent applications and trends.

Record-High Patent Applications:

Global Surge:

• Innovators worldwide filed a record-high 3.46 million patent applications in 2022, reflecting a 1.7% increase from 2021.
• China holds the highest number of patents in force.

Impact of New Technologies:

Digital Technology Influence:

• New technologies, particularly digital and computing-related filings, continue to shape global intellectual property (IP) trends.

Regional Distribution:

Asia’s Dominance:

• Asia attracts approximately 67.9% of patent applications globally, emphasizing its leading role in innovation and intellectual property.

Patent Longevity and Regional Averages:

Varying Patent Longevity:

• Despite patents being maintainable for up to 20 years, average patent age differs among countries.
• Brazil (11.6 years), India (11.4 years), Germany (11 years), and Mexico (11 years) showcase regional variations.

India-Specific Findings:

India’s Growth Trajectory:

• India records a remarkable 25% surge in patent filings in 2022, marking its sixth consecutive year of growth.
• Initiatives like fee concessions, start-up-focused incentives, and WIPO treaties contribute to this growth.

Initiatives Driving Growth:

Key Initiatives:

• Fee concessions, including a 10% rebate on online filing and an 80% fee concession for start-ups, drive India’s patent filing surge.
• Schemes like Start-Ups Intellectual Property Protection (SIPP) and Patent Analysis and Management System (PAMS) play a crucial role.
• India’s participation in the Patent Cooperation Treaty further amplifies its global IP collaboration.

Conclusion:

WIPO’s report underscores the dynamic landscape of global intellectual property, with record patent applications, digital technology influence, and regional variations in patent longevity. India’s robust growth, fuelled by strategic initiatives, highlights its commitment to fostering innovation and intellectual property protection.

INDIA-U.S. DEFENSE ACCELERATION ECOSYSTEM (INDUS-X)

GS 2 (INTERNATIONAL RELATIONS): SOURCE – TIMES OF INDIA

• The India-U.S. Defense Acceleration Ecosystem (INDUS-X) recently hosted its inaugural Investors Meet in New Delhi, organized by Innovations for Defence Excellence (iDEX) under the Ministry of Defence in collaboration with the U.S. Department of Defense.
• Launched in June 2023, INDUS-X focuses on enhancing the strategic technology partnership and defense industrial cooperation between India and the U.S.
• The event witnessed the introduction of the INDUS-X Educational Series (Gurukul), an initiative aimed at assisting innovators and startups in navigating the intricate defense ecosystems of both nations.
• This collaborative effort seeks to foster synergies among governments, businesses, and academic institutions, propelling advancements in defense technology and industrial collaboration between India and the U.S.
• The INDUS-X platform is pivotal in promoting innovation and accelerating the defense ecosystem’s growth across borders.

(CAFRAL) RELEASED ITS FIRST FLAGSHIP INDIA FINANCE REPORT 2023

GS 2 (POLITY AND GOVERNANCE): SOURCE – THE HINDU

The Centre for Advanced Financial Research and Learning (CAFRAL) recently unveiled its inaugural flagship India Finance Report 2023, centering on the theme “Connecting the Last Mile: Non-Banking Financial Companies (NBFCs) in India.” The report delves into various aspects of NBFCs, shedding light on their role in monetary policy transmission, financial inclusion, digital lending, and their growth trends.

Key Highlights:

• Monetary Policy Transmission (MPT): The report observes a robust MPT through NBFCs, although a delay of nearly two years is noted before witnessing its impact on their balance sheets.
• Financial Inclusion: NBFCs play a pivotal role in deepening financial inclusion by serving underserved subprime and marginalized borrowers, experiencing significant retail lending growth over the past decade.
• Digital Lending: NBFCs lead in digital lending, with a substantial share of 60.53% compared to banks’ smaller 5.53% in FY 2020.
• Growth Trends: The NBFC sector in India witnessed rapid growth, especially post the global financial crisis, despite disruptions in 2018-19 due to shocks like the IL&FS default.