March 11, 2024 | Your One-Stop Solution for Daily Preparation
The Securities and Exchange Board of India | Explained
The Securities and Exchange Board of India (SEBI) was established in 1988 and gained powers in 1992 through the SEBI Act of 1992. SEBI's main goal is to safeguard investor interests, promote the development of the securities market, and regulate it in India. SEBI regulates various market participants like stock exchanges, brokers, merchant bankers, portfolio managers, and mutual funds. It creates rules and guidelines to ensure fair and transparent transactions in the securities market.
Highlights of the Day
1. India Approves Rs 15,000 Crore Project for Indigenous Fifth-Generation Fighter Aircraft AMCA with Stealth Capabilities
India's Cabinet Committee on Security approved a Rs 15,000 crore project for the Advanced Medium Combat Aircraft (AMCA), making India a fifth-generation fighter aircraft nation. Led by the Aeronautical Development Agency (ADA) and manufactured by Hindustan Aeronautics Limited (HAL), the 25-tonne stealth aircraft will feature advanced sensors, internal weapons bays, and a 6.5-tonne concealed fuel tank. The AMCA will be powered by a 90kn GE414 engine (Mk1) and a more powerful 110kn engine (Mk2) developed by DRDO's Gas Turbine Research Establishment. The first flight is expected in 4.5 to 5 years, with full development taking around a decade[1].
2.India and European Free Trade Association Ink Milestone Pact: $100 Billion Investment Commitment for Job Creation
India and the European Free Trade Association (EFTA) signed a trade pact, reviving negotiations that were abandoned in 2013. EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland) commit to investing $100 billion in India over 15 years, aiming to generate 1 million jobs. In return, India grants tariff concessions for pharma, chemicals, and minerals. The deal, focused on diversifying economies away from China, marks India's first with European countries. While India-Oman trade talks progress, the India-EFTA pact allows tariff reduction for industrial goods, excluding most agricultural items, fostering collaboration in digital trade, banking, biotechnology, and more[2].
3.India Plans Revolutionary Satellite-Based Highway Tolling System for Pay-As-You-Use Travel
India plans to introduce a new highway toll collection system based on the global navigation satellite system before the 2024 elections. The system involves an OnBoard Unit (OBU) inside vehicles, using the GAGAN satellite system for accurate location tracking. It aims to calculate toll amounts based on actual distance traveled, ensuring pay-as-you-use and barrier-free movement. Challenges include recovering toll from non-compliant users and addressing potential issues like OBU tampering. The system will coexist with FASTags, and privacy concerns will be addressed through the Digital Personal Data Protection Act, 2023. The new system offers lower operational costs compared to FASTags[3].
4.Negotiator Highlights Private Sector Role in India-EFTA Deal, Emphasizes Investment Commitments
Helene Budliger Artieda, a top negotiator of the India-EFTA Free Trade Agreement, expressed confidence in reaching the $100 billion investment and one million jobs target. She emphasized that the investment would come from the private sector, not the governments. The breakthrough moment in negotiations was the decision to include a chapter on direct investment. While the commitments are significant, they rely on the private sector's interest in India. Artieda mentioned the possibility of negotiating a Bilateral Investment Treaty later and explained that the data exclusivity clause was never agreed upon, despite Switzerland's interest in Intellectual Property Rights[4].
5. Golden Langur Population Rises to 7,396 in Latest Survey, While CISF Flags Online Gambling in Personnel Suicides
The latest survey estimates 7,396 golden langurs in India, a rise from 6,000 recorded in 2008-09. The study, covering Manas Biosphere Reserve and western Assam, used the block count method, revealing 7,396 individuals in 707 groups. The population is divided into northern (5,566 langurs) and southern fragments (1,830 langurs). Fragile habitats pose threats, and primatologists recommend corridor linkages through plantations and canopy bridges. Meanwhile, the CISF notes online gambling and fraud contributing to personnel suicides, addressing mental health through financial literacy classes[5].
Source: The Hindu | Indian Express | PIB |Pressreader
Practice Questions for Prelims
Q1: With reference to Gulf of Tonkin, consider the following:
1. It is bordered by China and North Korea.
2. It is located in the Yellow Sea.
3. The Red river drains into it.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Q2: Which one of the following animal fur changes colors according to the seasons?
(a) Golden Langurs
(b) Malabar Civet
(c) Nilgiri Tahr
(d) Mongoose
Q3: With reference to Mumps disease, consider the following:
1. It commonly affects elderly people.
2. It is a zoonotic disease.
3. Memory loss is one of its symptoms.
How many of the above statements are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
Q4: Kurds are native to which of the following countries?
(a) Iran, Iraq, Syria, Turkey
(b) Jordan, Lebanon, Syria, Afghanistan
(c) Iran, Jordan, Syria, Lebanon
(d) Iran, Afghanistan, Syria, Turkey
Q5: Consider the following:
Place Country
1. Port-au-Prince Haiti
2. Kuriga Nigeria
3. Rafah Palestine
How many of the above pairs are correctly matched regarding military operations of India?
(a) Only one pair
(b) Only two pairs
(c) All three pairs
(d) None of the pairs
Today’s Question for Mains Answer Writing
In light of its pivotal role in regulating India's securities market, discuss the functions, impact, and recent initiatives of the Securities and Exchange Board of India (SEBI). Evaluate the effectiveness of SEBI in promoting investor protection, market transparency, and overall market development. Consider technological advancements, regulatory frameworks, and collaborative efforts. Additionally, analyze the challenges faced by SEBI and propose recommendations for further enhancing its regulatory capabilities and ensuring the sustained growth of the securities market in India.
Need help in writing or evaluation?
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