Daily Current Affairs 3 September 2020 With Video Lecture

What are Open Market Operations?

• Open market operations is the sale and purchase of government securities and treasury bills by RBI or the central bank of the country.
• The objective of OMO is to regulate the money supply in the economy.
• RBI carries out the OMO through commercial banks
• It does not directly deal with the public.
• OMO is one of the tools that RBI uses to smoothen the liquidity conditions through the year and minimize its impact on the interest rate and inflation rate levels.

“Mission Karmayogi”

• The Union Cabinet chaired by the Prime Minister, has approved launching of a National Programme for Civil Services Capacity Building (NPCSCB), “Mission Karmayogi“.
• What is Mission Karmayogi?

A new capacity-building scheme for civil servants aimed at upgrading the post-recruitment training mechanism of the officers and employees at all levels.

• Components:
• Mission Karmayogi programme will be delivered by setting up a digital platform called iGOTKarmayogi.
• The mission will be steered by the Prime Minister’s HR council that will consist of several national and international experts.
• Emphasizes on ‘on-site learning’ to complement the ‘off-site’ learning.
• It is also proposed to set up a Capacity Building Commission.
• The commission will have a supervisory role over all training institutions to ensure that there is a common understanding of India’s aspirations and development goals.

Adjusted Gross Revenue

• The Supreme Court has held that telecom firms will get 10 years to clear their adjusted gross revenue or AGR dues.
• Also National Company Law Tribunal (NCLT) should decide whether spectrum can be sold under the Insolvency and Bankruptcy Code.
• Telecom companies would also have to make payments on or before February 7 every year.
• The non-payment of dues in any year would lead to accrual of interest and invite contempt of court proceedings against such companies.
• What is AGR?
• Adjusted Gross Revenue (AGR) is the usage and licensing fee that telecom operators are charged by the Department of Telecommunications (DoT).
• It is divided into spectrum usage charges and licensing fees, pegged between 3-5 percent and 8 percent respectively.
• What is the issue?
• The definition of AGR has been under litigation for 14 years.
• In 2005, Cellular Operators Association of India (COAI) challenged the government’s definition for AGR calculation.
• DoT argued that AGR includes all revenues from both telecom and non-telecom services.
• The companies claimed that AGR should comprise just the revenue accrued from core services and not dividend or profit on the sale of any investment or fixed assets.

Government Blocks 118 Mobile Apps

• The Ministry of Information and Technology banned PUBG and 118 other widely popular mobile applications.
• Banned on the grounds that they are prejudicial to the integrity, sovereignty, public order, and defence of India.
• The move can be seen in the light of ongoing tension between China and India.
• Banned under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009.
• These apps were stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India.

Ladakh and Lakshadweep integrated to One Nation One Ration Card Scheme

• The Ladakh and Lakshadweep are recently integrated into the One Nation One Ration card scheme.
• With this, a total of 26 states and union territories are now connected with each other under the scheme.
• One Nation One Card:
• It is an ambitious project of Government of India that ensures delivery of food security entitlements to the beneficiaries covered under National Food Security Act, 2013.
• The migratory beneficiaries who frequently change their place of dwelling to search for employment, can now lift their entitled quota of food grains from any FPS anywhere in the country by using their same/existing ration card.

Current COVID19 Situation in India

QUIZ TIME

Mission Karmayogi is for:

1. Farmers
2. Migrant Labours
3. MSME
4. Civil Services Capacity Building

Answer – D

According to SC telecom firms will get how many years to clear their adjusted gross revenue or AGR dues?

1. 10 years
2. 20 years
3. 5 years
4. 15 years

Answer – A

Which of the following states recently added to One Nation One Ration Card Scheme?

1. Ladakh
2. Lakshadweep
3. Both
4. None

Answer – C

How many total states and union territories are now connected with each other under One Nation One Ration Card scheme?

1. 28
2. 26
3. 29
4. 20

Answer – B

Question of the Day

Who releases ease of doing business report?

Answer in next session…