Daily Newspaper Analysis for UPSC, IAS, UPPSC/UPPCS, MPSC, BPSC and All State PSC/PCS Exams - 17 October 2020
Baba Banda Singh Bahadur (GS 1 History)
- The Prime Minister has paid tributes to the brave Baba Banda Singh Bahadur Ji on his 350th Jayanti.
About Baba Banda Singh Bahadur:
- Banda Singh Bahadur was a Sikh warrior and a commander of Khalsa army.
- At age 15 he left home to become a Hindu ascetic, and was given the name ‘’Madho Das’’.
- He established a monastery at Nānded, on the bank of the river Godāvarī, where in September 1708 he was visited by, and became a disciple of, Guru Gobind Singh, who gave him the new name of Banda Bahadur.
- He came to Khanda in Sonipat and assembled a fighting force and led the struggle against the Mughal Empire.
- His first major action was the sacking of the Mughal provincial capital, Samana, in November 1709.
- After establishing his authority and Khalsa rule in Punjab, Banda Singh Bahadur abolished the zamindari system, and granted property rights to the tillers of the land.
- Banda Singh was captured by the Mughals and tortured to death in 1715-1716.
- A war memorial was built where Battle of Chappar Chiri was fought, to glorify heroic Sikh soldiers.
- The 328 feet tall Fateh Burj was dedicated to Banda Singh Bahadur who led the army and defeated the Mughal forces.
- The Fateh Burj is taller than Qutab Minar and is an octagonal structure.
- There is a dome at the top of the tower with Khanda made of stainless steel.
Electoral Bonds (GS 2 Gov)
- The State Bank of India has been authorized to issue and encash Electoral Bonds through its 29 Authorized Branches.
About Electoral bonds:
- An electoral bond is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India.
- The bonds are similar to bank notes that are payable to the bearer on demand and are free of interest.
- The citizen or corporate can then donate the same to any eligible political party of his/her choice.
- An individual or party will be allowed to purchase these bonds digitally or through cheque.
- The electoral bonds were introduced with the Finance Bill (2017).
- On January 29, 2018 the government notified the Electoral Bond Scheme 2018.
Conditions for Electoral bonds:
- As per provisions of the Scheme, Electoral Bonds may be purchased by a person who is a citizen of India or incorporated or established in India.
- A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals.
- Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds.
- The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
- It may be noted that Electoral Bonds shall be valid for fifteen calendar days from the date of issue.
- No payment shall be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period.
- The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day.
How are they used?
- The bonds will be issued in multiples of Rs 1,000, Rs 10,000, Rs 100,000 and Rs 1 crore (the range of a bond is between Rs 1,000 to Rs 1 crore).
- These will be available at some branches of SBI.
- A donor with a KYC-compliant account can purchase the bonds and can then donate them to the party or individual of their choice.
- Now, the receiver can encash the bonds through the party's verified account.
- The electoral bond will be valid only for fifteen days.
- The 29 specified SBI branches are in cities such as New Delhi, Gandhinagar, Chandigarh, Bengaluru, Bhopal, Mumbai, Jaipur, Lucknow, Chennai, Kolkata and Guwahati.
When can they be bought?
- The electoral bonds are available for purchase for 10 days in the beginning of every quarter.
- The first 10 days of January, April, July and October has been specified by the government for purchase of electoral bonds.
- An additional period of 30 days shall be specified by the government in the year of Lok Sabha elections.
National Authority for Recycling of Ships (GS 3 Eco)
- The Directorate General of Shipping has been notified as the National Authority for Recycling of Ships.
- This has been done under the Section 3 of the Recycling of Ships Act, 2019.
- An official statement said that as the apex body, DG Shipping is authorized to administer, supervise and monitor all activities relating to ship recycling.
- DG Shipping will look after the sustainable development of the ship recycling industry, monitor compliance with environment norms, safety and health for the stakeholders in the industry.
- DG Shipping will be the final authority for the various approvals required by the recycling yard owners and State governments, it said.
- Under Ship Recycling Act, 2019, India has acceded to the Hong Kong Convention for Ship Recycling under International Maritime Organization (IMO).
- DG Shipping is a representative of India in the IMO and enforces the conventions.
- The National Authority of Ship Recycling will be set up in Gandhinagar, Gujarat, which is the home of Asia’s largest ship breaking and recycling industry in the world.
Waste from the Shipping Industry:
- Like any other industry, the shipping industry, also creates a huge amount of waste every day.
- While ships dispose hundreds of tonnes of garbage from day to day operations, the disposing of a ship after it reaches the end of its service life also leaves a huge amount of waste, posing a potential hazard to the environment.
- The improper disposal of the ships in earlier days, especially when they were left unattended after discontinuation from the service, has created several graves of abandoned ships around the world.
- And, in the past decades, ship owners have also tried several other techniques; including Scuttling-the deliberate sinking of a ship, deep water sinking and ship breaking, to get rid of their old vessels.
What is Ship breaking?
- Ship-breaking is a type of ship disposal involving the breaking up of ships for either a source of parts, which can be sold for re-use, or for the extraction of raw materials, chiefly scrap.
- It may also be known as ship dismantling, ship cracking, or ship recycling.
- Modern ships have a lifespan of 25 to 30 years before corrosion, metal fatigue and a lack of parts render them uneconomical to operate.
- Ship-breaking allows the materials from the ship, especially steel, to be recycled and made into new products.
- This lowers the demand for mined iron ore and reduces energy use in the steelmaking process.
- While ship-breaking is sustainable, there are concerns about the use by poorer countries without stringent environmental legislation.
- It is also labor-intensive, and considered one of the world's most dangerous industries.
Saral Bima Yojana (GS 3 Eco)
- IRDAI, has released the guidelines on Standard Individual Term Life Insurance Product to be called ‘Saral Jeevan Bima’.
- All life insurers are directed to offer the product mandatorily.
- Such a standard product will make it easier for the customers to make an informed choice, enhance the trust between the insurers and the insured, and reduce mis-selling as well as potential disputes at the time of a claim settlement.
- It is also launching an awareness programme to help the workers in distress.
- The minimum sum assured is kept at Rs 5 lakh while the maximum cover can be for Rs 25 lakh.
- Anyone between 18 and 65 years of age can buy the plan.
- “Saral Jeevan Bima” is a non-linked non-participating individual pure risk premium life insurance plan, which provides for payment of Sum Assured in lump sum to the nominee in case of the Life Assured’s unfortunate death during the policy term.
- The product shall be offered to individuals without restrictions on gender, place of residence,
- Death Benefit: For Regular & Limited Premium Payment policies: Highest of:
- 10 times of annualized premium;
- 105% of all the premiums paid as on the date of death;
- Absolute amount assured to be paid on death.
- For Single premium policies: Higher of:
- 125% of single premium;
- absolute amount assured to be paid on death.
- Being a pure term insurance plan, there will be no maturity benefit under the policy.