KANISHKBIOSCIENCE E -LEARNING PLATFORM - Help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. Also connect every issue to their static or theoretical background. This helps you study a topic holistically and add new dimensions to every current event to help you think analytically.
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Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and bodies constituted for the protection and betterment of these vulnerable sections.
It is a standard individual term life insurance product unveiled recently by the Insurance Regulatory and Development Authority (IRDAI).
- This will help customers make an informed choice and reduce mis-selling.
- All life insurers will have to offer the standard product by January 1, 2021.
Key features of the product- Saral Jeevan Bima:
- It will be a non-linked, non-participating individual pure risk premium life insurance plan providing for payment of the sum assured in lump sum to the nominee in case of the insured’s death during the policy term.
- Eligibility: The plan will be for those in the 18-65 years age group.
- Policy term will be 5-40 years.
- It allows for a maximum maturity age of 70 years.
- Sum assured will be a minimum of ₹5 lakh and a maximum of ₹25 lakh. Insurers, however, have the option of offering sum
- No restrictions: The product shall be offered to individuals without restrictions on gender, place of residence, travel, occupation or educational qualifications.
- There will be only one exclusion under the policy – exclusion for suicide.
- There will be no maturity benefit. Neither will there be any surrender value nor can any loan be taken against the product.
- The policy will also offer optional Accident Benefit and Permanent Disability Rider.
Why this product? Don’t we already have enough insurance products in the market?
There are many term products in the market with varying terms and conditions. But, Customers who cannot devote adequate time and energy to make informed choices find it difficult to select the right product. Therefore, It was felt necessary to introduce a standard, individual life insurance product with simple features and standard terms and conditions.
Mandatory pure life insurance will also help in inclusion and insurance penetration in the country.
Prelims Link:
1 About IRDAI.
2 Saral Jeevan Bima- Key features.
3 Exclusion under the policy.
4 Eligibility.
5 Sum assured.
6 Matuity benefit.
Mains Link:
Discuss the significance of Saral Jeevan Bima Yojana.
Sources: the Hindu.
Statutory, regulatory and various quasi-judicial bodies.
National Authority for Recycling of Ships:
Context:
The Centre has notified the directorate general of shipping as the National authority for recycling of ships.
The notification was issued under the section 3 of the Recycling of Ships Act, 2019.
Roles and functions:
1 As an apex body, DG Shipping is authorized to administer, supervise and monitor all activities relating to ship recycling in the country.
2 It will also be the final authority for the various approvals required by the ship-recycling yard owners and state governments.
Hong Kong Convention for Ship Recycling:
Under Ship Recycling Act, 2019, India has acceded to Hong Kong Convention for Ship Recycling under International Maritime Organization (IMO).
1 IMO adopted the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships in 2009.
2 The guidelines are aimed at ensuring that ships, being recycled after reaching the end of their operational lives, do not pose any unnecessary risks to human health, safety and the environment.
Please note, the Convention is yet to come into force because it has not been ratified by 15 nations, representing 40 per cent of the world merchant shipping by gross tonnage (capacity) and a maximum annual ship recycling volume of not less than 3 per cent of the combined tonnage of the countries.
Recycling of ships in India and neighbours:
- India is the largest ship-breaking player in the world, recycling around 70 lakh gross tonnage every year, followed closely by Bangladesh.
- Pakistan and China are the third and fourth largest players.
Around 800 vessels are sent for breaking every year around the world. India accounts for around 30% of that work, with an average 250 ships recycled majorly at centre in Alang, Gujarat.
Prelims Link:
- Hong Kong Convention is related to?
- Has it entered into force?
- About IMO.
- Who is the National authority for recycling of ships in India?
- Overview of the Recycling of Ships Act, 2019.
Sources: the Hindu.
India and its neighbourhood- relations.
Comparison between India, Bangladesh per capita GDP:
Context:
This comparison is based on the International Monetary Fund’s latest update on the World Economic Outlook.
Key findings:
- In 2020, growth of India’s gross domestic product (GDP) will witness a contraction of over 10%.
- On average, India’s per capita GDP has been 24 per cent higher than Bangladesh’s during the last five years.
- But, in 2020, the per capita income of an average Bangladeshi citizen would be more than the per capita income of an average Indian citizen (This
happened once in 1991 too). India’s per capita GDP, in nominal US
dollar terms, is projected to be $1,876.53 in 2020, lower than $1,887.97
projected for Bangladesh. What about other neighbours?
China’s per capita GDP in 2020 is projected to be $10,839.43, Nepal and Sri Lanka, are projected to be $1,115.56 and $3,697.89.
What next then?
The IMF’s projections show that India is likely to grow faster next year and in all likelihood again surge ahead. But, given Bangladesh’s lower population growth and faster economic growth, India and Bangladesh are likely to be neck and neck for the foreseeable future in terms of percent - Prelims Link:
1 What is GDP?
2 What is GNP?
3 What is Per Capita Income?
4 PCI of India vs neighbours.
Mains Link:
Discuss why India’s per capita income has fallen below Bangladesh this year.
Sources: Indian Express. Important International institutions, agencies and fora, their structure, mandate.
India designated Vice-Chair of OECD Working Group on GLP:
Context:
India has been designated the ‘Vice-Chair’ of Good Laboratory Practice (GLP) Working Group of the Organisation for Economic Co-operation and Development (OECD).
What is GLP?
Good Laboratory Practice (GLP) is a quality system, which has been evolved by Organisation for Economic Co-operation and Development (OECD) to ensure that safety data generated on various chemicals like industrial chemicals, pharmaceuticals
(Human and Veterinary), agrochemicals, cosmetic products, food/ feed additives, and medical devices, etc., can be relied upon by regulatory authorities.About the National GLP Compliance Monitoring Authority (NGCMA):
The Department of Science and Technology (DST), Government of India, established the National GLP Compliance Monitoring Authority (NGCMA) with the approval of the Union Cabinet on April 24, 2002.
- NGCMA is the National body which grants GLP certification to test facilities (TFs) conducting safety studies on new chemicals of the above-mentioned categories in accordance with OECD Principles of GLP and OECD Council norms.
Prelims Link:
- OECD- Composition.
- Criteria for membership.
- About the National GLP Compliance Monitoring Authority (NGCMA).
- What is Good Laboratory Practice (GLP)?
- source - PIB
{ With input from news agency language)
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