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Table of Contents
Risky recourse
LIC‟s proposal to acquire a majority stake in IDBI Bank raises regulatory concerns
Insurance Regulatory and Development Authority of India has approved a proposal to allow
Life Insurance Corporation of India to increase its stake in IDBI Bank to 51%.
There are no details on how exactly this capital infusion will take place reports suggesting
that the LIC may acquire the additional 40% stake it would need to reach 51% and media
reports have estimated figures north of ₹1•,000 crore.
Plan envisages the insurer injecting much needed capital into the financially stressed lender
Non-performing assets rising beyond a threshold
Bank posted a net loss of ₹8•238 crore in the 12 months ended March 31, 2018, and is facing
the prospect of more losses with gross non-performing assets rising to 28%.
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Proposal raises several troubling questions.
The government clearly sees it as a relatively painless way to recapitalise the bleeding bank
IRDA, whose mission is to “protect the interest of and secure fair treatment to policyholders”
This puts at risk the interests of the premium-paying customers of the LIC.
As the capital markets watchdog, SEBI has an obligation(कर्तव्य) in all
such cases to weigh(र्ौलना) the interests of the small investor.
Seychelles template
Soft diplomacy in the Indian Ocean Region will serve India better
Seychelles President last week- Seychelles – Assumption Island- Build a naval base
India major strategic enhancement of India‟s IOR naval capacities and had been
under discussion since 2003
It was finally signed during PM Narendra Modi‟s visit to the Seychelles in 2015.
The deal was to include 30-year access to the base as well as permission to station Indian
military personnel on the ground, with facilities on the island funded by India, owned by
Seychelles and jointly managed
After Opposition protests about loss of sovereignty, however, it had to be renegotiated and
an amended version was signed in January 2018- Mr. Faure lacks the numbers in the
legislature to ratify it.
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Instead, Seychelles would build naval facility “on its own”- Given the blow to India‟s plans
Mr. Modi saying they would work on the project “keeping in mind each other‟s interests”.
India also announced a credit line of $100 million for Seychelles to purchase defence
equipment from India to build its maritime capacity, offered to finance civilian infrastructure
including the official buildings, and handed over a Dornier aircraft for maritime surveillance
Until 2020-21, when Seychelles is due for presidential and parliamentary elections, it may not
be possible to move the agreement further for ratification
It is best to keep it in abeyance(दुविधा).
Maldives- India‟s very public statements against the Abdulla Yameen government.
Gearing up for space wars
The implications of the American plans for a space weapons corps are still unclear
Announcement by U.S. President Donald Trump in June about the creation of a “space force”
or a sixth branch of the American armed forces has taken many by surprise within and
outside the U.S
The imperative by America to build space weapons, which is nothing new goes back to
the Cold War
The creation of the new force represents an important shift at least at an institutional level
What advantages it will bring to American warfighting capabilities are still unclear
Domestic impact- As Mr. Trump said at the time of the announcement, the intention is to
see that the U.S. establishes and maintains dominance in space.
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Ironically, U.S. Air Force — historically a major constituency and votary for space weapons —
is not entirely enthusiastic about this new service, which could take resources away from it
and the prestige that comes with being the driver of space military operations.
Objections have also emerged from within the Administration
The U.S. Defence Secretary, James Mattis- adding another military arm would only
compound the organisational challenges facing the U.S. armed service- Increase budgetary
Nevertheless, fundamental difficulty of a space corps is that physical environment of space
is not conducive to the conduct of military operations without incurring serious losses
in the form of spacecraft and debris.
Make spacecraft more fuel efficient, the energy requirements are enormous Further, the
technical demands of defending assets in space.
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China and Russia‟s responses- opposes the weaponisation of space
Implications for India American military goals, which are still undefined in space, could
still have consequences for India.
While India is officially committed to PAROS, or the prevention of an arms race in outer space
New Delhi would do well to come out with an official white paper on space weapons.
The government needs to engage with multiple stakeholders directly about the role
space weapons will play in India‟s grand strategy.
More than their war-fighting attributes, space weapons have one principal function
— deterrence.
Today- Question- 150-250 words
Can India then really become an “AI garage” for 40% of the world, as
NITI Aayog envisions?
The dream of being an AI powerhouse
Recent discussion paper, NITI Aayog has chalked out ambitious strategy for India to become
an artificial intelligence (AI) powerhouse
Many forms of AI surround Indians already, including chatbots on retail websites
But NITI Aayog envisions AI solutions for India on a scale not seen anywhere in the world
today, especially in five key sectors —
Agriculture,
Healthcare,
Education,
Smart cities and infrastructure,
Transport.
In agriculture, for example, machines will provide information to farmers on the
quality of soil, when to sow, where to spray herbicide.
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It‟s an idea with great potential: India has 30 million farmers with smartphones, but poor
extension services.
If computers help agricultural universities advise farmers on best practices, India
could see a farming revolution.
Lack of data- Digitising existing data and having a clear deadline are key to realising
India‟s ambitions
Machine learning, the set of technologies used to create AI, is a data-guzzling monster
More sophisticated forms of machine learning, like “deep learning”, attempt to mimic
the human brain
In fact, the lack of data means that deep learning doesn‟t work for all companies in India.
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Domain knowledge Another problem for AI firms today is finding the right people.
NITI Aayog‟s report has bleak news: only about 50 Indian scientists carry out “serious
research”- and they are concentrated in elite institutions such as the Indian Institutes
of Technology and the Indian Institutes of Science.
Can India then really become an “AI garage” for 40% of the world, as NITI Aayog envisions?
But for any reasonable time frame for execution, much needs to change immediately.
If the government is serious about AI solutions powering agriculture or healthcare, it must col
lect and digitise data better under its existing programs
The NITI Aayog report talks about collaboration
Third, NITI Aayog‟s ambitious road map does not mention deadlines or funding.
Without these, it lacks accountability- The government must make haste and specify its
commitments on these fronts.
Prelims Focus Facts-News Analysis
Page-1-GST monthly revenue will exceed ₹1•1 lakh cr: Goyal
Prime Minister Narendra Modi ruled out a single rate under the GST, saying a
luxury car and milk could not be taxed at the same rate.
Prelims Focus Facts-News Analysis
Page-1-A 216-foot-tall celebration of Bhakti saint, Ramanujacharya.
The statue of the Bhakti saint marking a millennium will be the world‟s second tallest when
unveiled-Hyderabad.
Prelims Focus Facts-News Analysis
Navyman sets sail on world voyage
Commander Abhilash Tomy only invitee from Asia to the Golden Globe Race
The GGR is being conducted by U.K.-based sailing pioneer.
Prelims Focus Facts-News Analysis
Chinese men held with drugs frequent India visitors: CID- They have been frequent
visitors to India- They had travelled to New Delhi, Mumbai and various other cities
since 2016,”
Tax department launches „instant‟ PAN card service
It is free of cost and only available for Aadhaar card holders
Chinese firm did not fund my campaign: Rajapaksa
A recent media report had revealed a $7.6-million transfer to his aides.
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