9 PM Daily Current Affairs Brief – March 11th, 2022

Posted on March 11th, 2022 Last modified on September 8th, 2022 Comments Views : 1.7k

Dear Friends, We have initiated some changes in the 9 PM Brief and other postings related to current affairs. What we sought to do:

Ensure that all relevant facts, data, and arguments from today’s newspaper are readily available to you.
We have widened the sources to provide you with content that is more than enough and adds value not just for GS but also for essay writing. Hence, the 9 PM brief now covers the following newspapers:
1. The Hindu
2. Indian Express
3. Livemint
4. Business Standard
5. Times of India
6. Down To Earth
7. PIB
We have also introduced the relevance part to every article. This ensures that you know why a particular article is important.
Since these changes are new, so initially the number of articles might increase, but they’ll go down over time.
It is our endeavor to provide you with the best content and your feedback is essential for the same. We will be anticipating your feedback and ensure the blog serves as an optimal medium of learning for all the aspirants.
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Mains Oriented Articles

Mains Oriented Articles

GS Paper 2

Insolvency proceeding deadline problem

Source: This post is based on the article “Insolvency proceeding deadline problem” published in Business Standard on 11th March 2022.

Syllabus: GS2- Government policies and interventions for development in various sectors

Relevance: Insolvency Proceeding, Timely resolution.

News: Insolvency and Bankruptcy Code (IBC), 2016 aims for time bound corporate insolvency resolution process or CIRP.

Although initially these timelines were adhered, but with time, considerations of factors like livelihood of those related to the company have led to delays.

Due to this, the focus has shifted to revival rather than on timely resolution.

How does the IBC 2016 goes about the resolution process?

IBC 2016, prescribes time limits for the corporate insolvency resolution process, or CIRP, and for each task in the process, starting from initiation till closure. The time prescribed for CIRP is mandatory.

An early resolution increases the likelihood of a company being revived and, in turn, of productive assets being turned around quickly.

CIRP envisages two options for resolution — namely, (a) revival of the company through a resolution plan, or (b) liquidation of the company. It lets the market choose the options sequentially. The market first makes an attempt to revive the company, failing which the liquidation process is initiated.

Is the timeline proposed been adhered to in practice, what has been the experience?

The code provides for consequences for not adhering to the time schedule.

– These timelines were adhered strictly in the initial days. For example: 23 CIRPs, which concluded with resolution plans in 2017-18, took on an average 243 days.

However, over the years a perception emerged that the livelihood of many is linked to the survival of a company and thus revival took precedence, even at the cost of time and value.

Subsequently, the code was amended in 2019 to extend the period given for resolution and also to allow for extensions and exclusions, which became a major reason for delay.

As a result, 98 CIRPs that concluded with resolution plans during April-December 2021 on an average took 709 days, which is far more than the prescribed timeline.

Apart from preference for revival, there is another reason for delay. CIRP requires several constituents to play their respective roles, and it is possible that any of them may fail to perform its role in time, causing delay.

What is the way forward?

Market and adjudicating authority should be given a specific timeline to finish their respective tasks. This will prompt the market to complete the process in time.

Timely resolution will help to reclaim the economic value of an enterprise under stress.

A fresh blow to globalisation

Source: This post is based on the article “A fresh Blow to globalisation” published in Business Standard on 10th Mar 22.

Syllabus: GS2- Effect of policies and politics of developed and developing countries on India’s interests.

Relevance: Globalisation, Self sufficiency of economy.

News: There are two broad possibilities that may arise as an effect of the present Ukraine crisis – one is the reordering of international relations, and the other is declining globalisation.

How the western countries have responded to the Ukraine Crisis?

The West has imposed what are supposed to be the harshest sanctions ever faced by any country.

The US has banned oil and gas imports from Russia.

The UK is curtailing oil imports.

Russia has been cut off from the SWIFT messaging system. Select Russian banks have been barred from the payments system.

What, as per experts, led to the Ukraine crisis?

Majorly, the narrative that has been commonly accepted and which the western world is also supporting is that conflict in Ukraine has happened because Russia wants to recreate the Soviet empire.

An alternative narrative is that Russia sees the inclusion of Ukraine in NATO as an existential threat and the intervention in Ukraine as necessary to prevent a nuclear conflagration in the near future. This view was earlier also proposed by thinkers like Henry Kissinger who had warned that conflict with Russia was inevitable if the expansion continued.

How the present crisis can negatively affect world trade and globalisation?

Foreign entities are facing issue to access Ruble payments parked with Russian banks, and repayment of dollar-denominated Russian bonds are also in doubt.

Although Russia has not yet curbed the oil and gas supplies, however, there prices are still rising. Due to this the world will have to suffer the costs of higher inflation and lower growth.

Rising protectionism, concerns about national security and the Pandemic had already slowed the momentum of world trade and investment flows. The current crisis will deliver another blow to globalisation.

What are some key lessons for India from this emerging scenario?

Russia is facing severe restrictions on its access to its central bank foreign currency reserves parked in the West.

This raises questions about Nations parking foreign exchange surpluses with central banks in the West. This has led many to point out that greater integration with the outside world makes an economy more vulnerable to external pressures and could compromise a nation’s sovereignty.

An open data policy won’t work without earnest implementation

Source: The post is based on an article “An open data policy won’t work without earnest implementation” published in the Live mint” on 11^th March 2022.

Syllabus: GS II- Governance, Policy Formulation etc.

Topic: Public data

News: On 22 February, India’s ministry of electronics and information technology (MEITY) released its draft India Data Accessibility and Use Policy 2022 for public consultation.

Read – About the Draft India Data Accessibility & Use Policy, 2022

Need for bringing the draft Data Accessibility and Use Policy 2022

Utility in delivery of public services: The data generated through routine administrative processes is important for the better delivery of public services.

Already in practice in other countries: Such policies exist in many countries being used for an efficient use of such data in improving services.

Demands of academia and other stakeholders: i.e., large volumes of such data have remained unutilized.

What are the challenges associated with the policy?

Read – Issues related to draft data accessibility policy

Conflict of interest: There are changes of misuse of such data for commercial or political purposes. It is because data is “the new oil”. Thus, the monetization of valuable public sector data without adequate safeguards can be counter-productive.

Issues of data integrity: As public data is a by-product of government administration; its quality is only as good as that of the administration.

Administrative control over data has also been used to thwart attempts by users and citizens to obtain data for public use. For example, the Right to Information (RTI) Act, has been diluted over the past decade like many RTI activists losing their lives.

What are the benefits associated with policy?

It can lead to realizing the potential of this large volume of data. It can be shared across various ministries and between central and state governments. It can be used to encourage better utilization of large-scale data collected by the government machinery.

Public data can be complementary to a systematic evaluation of administrative functioning and independent surveys and research.

Challenges in using public data as complementary to other evaluating measures

Public data is being used to discredit independent credible surveys: For example, Data from the EPFO and E-Shram portal used to argue that jobs are being generated, as against separate evidence from the Periodic Labour Force Surveys of the National Statistical Office (NSO).

Public data used to suit a political narrative: Assault has been made on NSO data on open defecation, access to potable water, and so on. Even a basic exercise such as our decennial population census has become political, e.g., It is being linked with a National Population Register.

What are the suggestions to tackle issues?

The data accessibility-and-use policy has to be completed by a comprehensive data protection framework.

The data integrity: Our statistical system needs strengthening. Public data can be verified independently, i.e., open databases for public scrutiny and academic analysis. For example, social audits being used in the Mahatma Gandhi National Rural Employment Guarantee Act. Its social audit has not only raised the quality of data available on this job programme’s functioning, but also helped improve the scheme itself.

Protection from unnecessary attacks: It is needed to be protected from the very institution that generates it, i.e., administrative machinery as well as the political leadership.

Sumy success: With Operation Ganga winding down, India must now take a clear position on Ukraine crisis

Source: The post is based on the article “Sumy success: with operation Ganga winding down, India must now take a clear position on Ukraine Crisis” published in the times of India on 10^th March 2022

Syllabus: GS-II Effect of Policies and Politics of Developed and Developing Countries on India’s interests, Indian Diaspora.

Topic: Indian Diaspora

News: The 700 Indian students were finally successfully evacuated from the north-eastern Ukrainian city of Sumy through Operation Ganga.

As a result of Indian diplomacy, the Ukrainians and Russians agreed to provide safe passage to the Sumy students. A humanitarian corridor was established for extraction of students which was quite challenging to be established.

History of India’s Successful Evacuation Missions from War-Torn Countries

1990 Kuwait airlift: Around 1,70,000 Indians were brought back home after Iraqi forces invaded Kuwait, kicking off the first Gulf War.

2006 Operation Sukoon: India evacuated not just Indians but also nationals of neighbouring countries like Sri Lanka and Nepal with the help of the Indian navy when conflict between Israel and Hezbollah broke out in 2006

2015 Operation Rahat: India evacuated nearly 4,000 citizens along with foreign nationals of 26 countries from war-torn Yemen.

GS Paper 3

Addressing uncertainty – Necessary changes in GST must be made in time

Source: The post is based on an article “Addressing uncertainty” published in the Business standard” on 11^th March 2022.

Syllabus: GS III- Indian Economy, Government Budgeting

Topic: GST reforms

News: The Goods and Service Tax (GST) is going to complete its five years in a few months. Therefore, it has triggered a debate for big structural change in the system.

GST was expected to reduce complications in the indirect tax system, contain tax evasion, and boost revenue and economic growth over time. However, it has fall short of expectations.

What are the issues linked with GST?

Compensation Issue: Provision of the compensation cess against the shortfall in revenue for the first five years may be removed with completion of five years. It is expected that the compensation cess will continue, but the proceeds will be used to repay the loans taken to compensate states for the revenue shortfall during the pandemic period.

Uncertainty for the states: The fact that cess will not be used to compensate the states for revenue shortfall will create significant uncertainty for the states. It is particularly important when economic activity is weak and states are expected to reduce their budget deficits.

What are the suggestions?

Compensation Issue: To compensate the states for their revenue shortfall, additional cess might need to be imposed. It is because the cess will remain beyond June 2022, and will be used to repay the loan.

Changes in tax structure: The group of state finance ministers is reportedly expected to recommend increasing the 5 per cent slab to 8 per cent, which is projected to increase revenue collection by Rs 1.5 trillion annually.

Inclusion of some items: The Group of Minister (GOM) in its report is also expected to recommend the removal of items from the exemption list.

Operational Issues: The GST Council should review operational issues in the GST system. It can lead to improvement in the ease of filing, which will help boost compliance and revenues.

Prelims Oriented Articles (Factly)

Medical courses at IITs? UGC draft guidelines get a thumbs up

Source: This post is based on the article “Medical courses at IITs? UGC draft guidelines get a thumbs up” published in Business Standard on 11th Mar 2022.

What is the News?

University Grants Commission has released “Draft Guidelines for Transforming Higher Education Institutions into Multidisciplinary Institutions”.

The guidelines have been prepared in line with the National Education Policy, 2020 which has envisaged at least one large multidisciplinary higher education institute in or near every district by 2030.

What are the key features of the Guidelines?

Phasing out stand-alone and domain-specific Higher Education Institutions(HEIs).

Creation of multidisciplinary HEIs by launching varied courses. For instance, IITs must take a lead by opening humanities, medical science and management departments.

Colleges should have the option of forming “clusters” to overcome institutional weaknesses hindering their entry into the field of multidisciplinary education.

De-affiliated colleges from universities to push them towards autonomy. De-affiliated colleges could grow to be multidisciplinary autonomous degree-granting institutions.

Colleges or universities should have the option of collaborating to offer dual degrees. For instance, students once admitted will be able to complete the first degree at the host institution and the second degree at the partnering institution without going through the admission process again.

Union Minister launches MSME Innovative Scheme (Incubation, Design and IPR) & MSME IDEA HACKATHON 2022 under MSME Champions Scheme

Source: This post is based on the article “Union Minister launches MSME Innovative Scheme (Incubation, Design and IPR) & MSME IDEA HACKATHON 2022 under MSME Champions Scheme” published in PIB on 10th Mar 2022.

What is the News?

The Union Minister for MSME has launched the MSME Innovative Scheme (Incubation, Design and IPR) along with the MSME IDEA HACKATHON 2022.

What is the MSME Innovative Scheme?

Nodal Ministry: Ministry of MSME

Aim: a) To promote and support untapped creativity of the MSME sector and b) To act as a hub for innovation activities, facilitating and guiding the development ideas into a viable business proposition that benefits society directly.

The three sub-schemes under this scheme include:

Incubation: It aims to promote and support untapped creativity and to promote the adoption of the latest technologies in MSMEs that seek the validation of their ideas at the proof-of-concept level. Financial assistance up to Rs 15 lakh per idea and up to Rs one crore for relevant plants and machines will be provided.

Design: It aims to bring the Indian manufacturing sector and design expertise/design fraternity onto a common platform. Financial assistance up to Rs 40 lakh for design projects and up to Rs 2.5 lakh for student projects will be provided.

IPR (Intellectual Property Rights): It aims to improve the IP culture in India with a view to enhance the awareness of Intellectual Property Rights(IPRs) amongst the MSMEs and to encourage creative intellectual endeavour in the Indian economy. Financial assistance upto Rs 5 lakh for a foreign patent, Rs one lakh for a domestic patent, Rs two lakh for GI registration, Rs 15,000/- for design registration, Rs.10,000/- for a trademark in the form of reimbursement.

RBI launches UPI123Pay that allows UPI payments on feature phones

Source: This post is based on the article “What is the Temporary Protection Directive of 2001, and why has the EU invoked it for refugees of the Ukraine war?” published in Indian Express on 11th Mar 2022.

What is the News?

Reserve Bank of India has launched new UPI service for feature phones called UPI123Pay. It has also launched a 24×7 helpline for digital payments called ‘Digisaathi’.

What is UPI123Pay?

UPI 123PAY is a three-step offline method to initiate and execute transactions that will work on simple feature phones.

It will allow users to use feature phones for almost all transactions except scan and pay.

The service does not need an internet connection for transactions. Users just need to link their bank account with their phones to use the service.

How can transactions be done without the internet? UPI123Pay offers users four options to make payments without internet connectivity:

Interactive Voice Response (IVR): Users would be required to initiate a secured call from their feature phones to a predetermined IVR number and complete UPI on-boarding formalities to start making financial transactions like money transfer, mobile recharge, EMI repayment, balance check, among others.

App-based functionality: One could install an app on feature phones through which several UPI functions, available on smartphones, will be available on their feature phone, except the scan and pay feature which is currently not available.

Missed call facility: The missed call facility will allow users to access their bank account and perform routine transactions such as receiving, transferring funds by giving a missed call on the number displayed at the merchant outlet. The customer will receive an incoming call to authenticate the transaction by entering UPI PIN.

Proximity sound-based payments: One could utilize the proximity sound-based payments option, which uses sound waves to enable contactless, offline, and proximity data communication on any device.

What is Digisaathi?

DigiSaathi has been set up by the National Payments Corporation of India(NPCI).

It is a 24 x 7 Helpline for providing information on digital payment products and services.

It will use AI technology to answer any questions related to all types of digital transactions. Currently, it is available in English and Hindi language.

Novel strategy to synthesize solid adsorbents for CO2 capture and utilization discovered

Source: This post is based on the article “Novel strategy to synthesize solid adsorbents for CO2 capture and utilization discovered” published in PIB on 10th Mar 2022.

What is the News?

Indian Scientists have discovered a strategy to synthesize novel solid adsorbents for CO2 capture and utilization.

What is Carbon Capture and Utilization(CCU)?

Carbon Capture and Utilization(CCU) is the process of capturing carbon dioxide (CO2) to be recycled for further usage.

CCU is a growing field of research focusing on reducing CO2 emissions. But CCU still can’t provide an economically viable and complete CO2 capture and utilization solution.

What have the researchers developed?

Researchers have discovered special types of nano-particles or micro-particles like Covalent Organic Frameworks(COF) coated zeolite.

This particle can be an excellent candidate for CO2 storage in the industry due to its high surface area and increased chemical stability. Moreover, this particle has higher CO2 uptake even after treatment with weak acids.

Colombo Security Conclave: Doval calls for regional response to maritime challenges

Source: This post is based on the article “Colombo Security Conclave: Doval calls for regional response to maritime challenges” published in The Hindu on 11th Mar 2022.

What is the News?

The 5th Edition of Colombo Security Conclave(CSC) has started in Maldives.

The conclave was attended by National Security Advisors and representatives from India, Sri Lanka, Maldives, Mauritius, Bangladesh and Seychelles.

Note: Bangladesh and Seychelles attended as observers at this conclave meeting.

What is the Colombo Security Conclave?

India, Maldives, and Sri Lanka began a National Security Advisor (NSA)-level trilateral meeting on maritime security cooperation in 2011.

Following a halt from 2014-2019, the trilateral meeting was resumed in 2020, when the decision was taken to establish the Colombo Security Conclave(CSC).

Aim of the Conclave: To forge closer cooperation on maritime and security matters among the three Indian Ocean countries.

Pillars of Cooperation: There are four pillars of security cooperation including marine security, human trafficking, counter-terrorism and cyber security.

Secretariat: Colombo, Sri Lanka.

What are the key takeaways from the fifth edition of Colombo Security Conclave?

Firstly, Mauritius was included as a new member of the conclave.

Secondly, the pillar of cooperation of the conclave has been expanded to include Humanitarian Assistance and Disaster Relief as the fifth pillar.

RSETIs (Rural Self Employment Training Institutes) launches new batches of women-centric courses as part of the Iconic Week campaign under Azadi Ka Amrit Mahotsav

Source: This post is based on the article “RSETIs (Rural Self Employment Training Institutes) launches new batches of women-centric courses as part of the Iconic Week campaign under Azadi Ka Amrit Mahotsav” published in PIB on 10th Mar 2022.

What is the News?

To mark International Women’s Day 2022, new batches of women-centric courses were started by RSETIs (Rural Self Employment Training Institutes) across the country.

What is Rural Self Employment Training Institutes(RSETIs) Programme?

Rural Self Employment Training Institutes(RSETIs) programme is a three-way partnership between the Ministry of Rural Development (MoRD), State Governments and the Sponsor Banks.

Under the programme, banks are mandated to open at least one RSETI in their lead district to provide training to rural youth to take up self-employment/entrepreneurship ventures.

RSETI program runs with an approach of short-term training & long-term handholding of entrepreneurs.

Eligibility: Rural poor youth between the age group of 18-45 years are eligible to join the training.

Significance: The RSETIs have become established as pioneers in capturing the aspirations of the rural poor youth and turning them into profitable entrepreneurs by training them in the domain and entrepreneurial skills.

What is the Temporary Protection Directive of 2001, and why has the EU invoked it for refugees of the Ukraine war?

Source: This post is based on the article “What is the Temporary Protection Directive of 2001, and why has the EU invoked it for refugees of the Ukraine war?” published in Indian Express on 11th Mar 2022.

What is the News?

Responding to refugee crisis due to the Russian invasion of Ukraine, the EU has made the unprecedented decision to activate the European Union’s Council Directive known as the Temporary Protection Directive (TPD). The war in Ukraine is the first time that the EU has invoked the TPD.

What is the Temporary Protection Directive (TPD)?

The European Commission describes TPD as an exceptional measure to provide immediate and temporary protection to displaced persons from non-EU countries and those unable to return to their country of origin.

The directive applies when there is a risk that the standard asylum system is struggling to cope with demand stemming from a mass influx risking a negative impact on the processing of claims.

Why were the TPD standards established?

Firstly, having proper standards will reduce the disparities between the policies of European Union (EU) countries on the treatment of potential refugees during mass influx.

Secondly, the standards also promote burden-sharing among EU countries regarding receiving a large number of displaced persons in a short duration and bearing the consequences of receiving such persons.

What obligations does the TPD place upon EU states?

According to the European Commission, the TPD foresees harmonized rights for the beneficiaries of temporary protection which include:

– A residence permit for the duration of the protection (1-3 years).

– Appropriate information on temporary protection,

– Access to jobs, housing, social welfare, medical treatment, education for minors.

– Opportunities for families to reunite in some circumstances.

– Guarantees for access to the normal asylum procedure.

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