GS 2 SC upholds bankruptcy code, cites improved financial flows In a whoop of victory for credits markets and entrepreneurship, the Supreme Court on Friday upheld the constitutionality of the Insolvency and Bankruptcy Code (IBC), saying the law sends a clear message that India is no longer “the defaulter’s paradise”. Crisis in Caracas The political crisis in Venezuela took a dangerous turn when Juan Guaidó, the new head of the National Assembly, declared himself “acting President”, challenging the authority of President Nicolás Maduro. GS 3 Examining farm loan waivers The solution lies in better schemes that ensure universal coverage for small, marginal and medium-sized farmers India, South Africa seal partnership deal India and South Africa on Friday agreed on a three-year strategic partnership agreement to boost relations. ‘Agri sector should be boosted through credit flows’ PM’s Economic Advisory Council feels sector should be supported by schemes such as MGNREGS PT Facts Bharat Ratna for Pranab, Deshmukh, Hazarika President Ramnath Kovind on Friday conferred the Bharat Ratna, the nation’s highest civilian honour, on former President Pranab Mukherjee, along with social activist Nanaji Deshmukh (posthumous), and Assamese musician Bhupen Hazarika (posthumous). 112 persons named for Padma awards 21 of the awardees are women and the list also includes 11 persons from the category of foreigners/NRI/PIO/OCI, 3 posthumous awardees and 1 transgender person