Bank Nationalisation: 52 years and ticking

Source: Business Standard Relevance – The government has cleared its intention to privatize the public banks. This article highlights some aspects of bank nationalization. Synopsis: Nationalization has served its purpose. It’s time to move forward with the retention of majority ownership of the government in a few banks to serve people. History of Bank Nationalization… Continue reading Bank Nationalisation: 52 years and ticking

India’s new Industrial policy is a replay of socialist era follies

Source: Live Mint Relevance – An analysis of govt’s Industrial policies. Synopsis: It took decades for India to shift from its inward-looking and uncompetitive manufacturers. Now the government is again giving importance to inward-looking and uncompetitive companies to produce for the domestic market. Background: One of this government’s first promises was to revive the manufacturing… Continue reading India’s new Industrial policy is a replay of socialist era follies

Can state immunity be invoked in Cairn Energy case?

Source: Indian Express Relevance: This article highlights options before India in the Cairn energy case. Synopsis: State immunity can be invoked to resist the seizure of sovereign assets, but not commercial properties. Besides, fighting the case will consume an enormous amount of resources and attract bad press. Background A French court recently authorized Cairn Energy… Continue reading Can state immunity be invoked in Cairn Energy case?

Curbs on foreign card firms

Source: Indian Express Relevance – Data localization is being taken seriously in India. Aspirants must have knowledge of all aspects linked to it. Synopsis: Recently, the Reserve Bank of India has barred three foreign card payment network companies  (Mastercard, American Express, and Diners Club) from taking new customers on board over the issue of storing… Continue reading Curbs on foreign card firms

Fuel price surge: What India can learn from Biden and Sunak’s tax policies

Source: Business Standard Relevance – The article highlights the options that government can use instead of increasing oil prices. Synopsis: Government should tax the rich to find alternate avenues to raise public resources. When the times change, the policy has to adapt Background Even when the second OPEC-driven oil shock sent international oil prices past… Continue reading Fuel price surge: What India can learn from Biden and Sunak’s tax policies

RBI action on Mastercard again shows why it is urgent to have an omnibus data protection law

Source: TOI Synopsis: Mastercard Asia has been ordered by RBI to refrain from taking on new customers as it failed to fulfil its obligations under the local data storage rules. Also Read: Mastercard can’t issue new cards from July 22: RBI Issues involved Impact on the payments market: India’s retail payments landscape has transitioned to contactless… Continue reading RBI action on Mastercard again shows why it is urgent to have an omnibus data protection law

Potential Economic Consequences of Pandemic

Source: Livemint Relevance: This article highlights the possible long-term economic consequences of COVID-19 for India. Introduction: A recent exercise at the National Council of Applied Economic Research shows a few possible scenarios. It reveals the permanent effects of the pandemic shock that will persist for a very long time. Possible Long-term consequences: Firstly, after the V-shaped… Continue reading Potential Economic Consequences of Pandemic

Power users may soon get to choose supplier

Source: Live Mint Relevance: Electricity amendment bill 2021 will improve energy efficiency and consumer protection. Synopsis: Electricity (Amendment) Bill, 2021 is a landmark bill to reform power distribution. The Landmark Electricity (Amendment) Bill, 2021 is expected to be introduced in the monsoon session of the parliament. Provisions of the Landmark Electricity (Amendment) Bill, 2021 Aims… Continue reading Power users may soon get to choose supplier

Subsidy scheme for shipping firms approved

Source: The Hindu and PIB Relevance: The article highlights one of the challenges with Indian shipping industry and the new government scheme to tackle it. Synopsis: Cabinet has recently approved a scheme for the promotion of merchant ships in India by providing subsidy support to Indian shipping companies in global tenders floated by Ministries and CPSEs.… Continue reading Subsidy scheme for shipping firms approved

Cairn Energy dispute and Government disputes with private entities – Explained, pointwise

Introduction Britain’s Cairn Energy Plc has secured an order from a French court authorizing the freezing of 20 Indian government properties in Paris valued at over 20 million euros. This is the first court order secured against India to enforce a $1.2-billion arbitration award that Cairn Energy had won against the Indian government in the… Continue reading Cairn Energy dispute and Government disputes with private entities – Explained, pointwise