Current affairs- April 30, 2016

Gujarat clears 10% quota for poor in a bid to pacify Patels

Gujarat government has announced a separate 10% quota for economically backward classes (EBC) in higher education and government jobs.
  • The new category would cover all upper castes, including Patidars, whose family income does not exceed Rs 6 lakh per annum.
  • In this regard, the state government will come out with an ordinance on May 1, celebrated as the foundation day of Gujarat. 

Current affairs- April 29, 2016

Peer-to-peer lending to come under RBI purview
The Reserve Bank of India (RBI) has released a consultation paper on peer-to-peer (P2P) lending and proposed to bring such platforms under its purview by defining them as non-banking finance companies (NBFCs).

What is P2P lending?
P2P lending is a form of crowdfunding; an online platform that matches lenders with borrowers in order to provide unsecured loans. The borrower can either be an individual or a business requiring a loan. A fee is paid to the platform by both the lender and the borrower.

Current affairs- April 28, 2016

‘Make in India’ not at cost of IPR: U.S.
The US Trade Representative’s annual Special 301 report, that identifies trade barriers to U.S. companies and products due to a foreign government’s intellectual property regime, has placed India on the Priority Watch List, the same as last year.

About the Report:
The report ranks countries depending on the inadequacy of IP protection and enforcement into two categories —priority foreign country (PFC) and priority watch list (PWL).

Current affairs- April 27, 2016

Panel suggests fine or jail for celebs in misleading ads

In its report on the Consumer Protection Bill 2015, a parliamentary panel has suggested legal teeth to make celebrities accountable for misleading advertisements.
  • The panel has suggested legal teeth to the Advertising Standards Council of India (ASCI) to curb misleading ads, besides proposing severe penalties, jail and cancellation of licence of those involved in food adulteration.

  • According to the committee, the existing laws are not deterrent enough to discourage manufacturers or publishers from using such personalities for misleading ads. Therefore, it recommends that stringent provisions may be made in the bill to tackle misleading advertisement, as well as, to fix liability on endorsers/celebrities.

Current affairs- April 26, 2016

All new mobiles to have panic button from 2017

According to a notification issued recently by the Department of Telecom, “from January 2018, mobile handset manufactures will be able to sell their products in India only if the product has the emergency feature that enables identifying the location through satellite-based GPS.”
  • These rules are called the panic button and Global Positioning System facility in all mobile handsets Rules, 2016. They shall come into force on the date of their publication in the Official Gazette.

Current affairs- April 25 , 2016

Legal system too expensive for most: Study
According to the nationwide “Access to Justice” survey, legal system in India is too expensive to access for most citizens in the country.
  • The survey was conducted across 305 locations in 24 States between November 2015 and February 2016 to hear the voice and explore the profile of people making use of judicial system in India.
Important observations made:
  • 90% of the litigants earn less than Rs. 3 lakh per annum and the median expected cost of litigation for this group is around Rs. 16,000.