Topic 1: Foreign Exchange Management Act

Context: The Enforcement Directorate (ED) has registered a case against the British Broadcasting Corporation (BBC) India under the Foreign Exchange Management Act (FEMA) for alleged foreign exchange violation.

The FEMA (Foreign Exchange Management Act)

Objectives of FEMA

Foreign Exchange Regulation Act (FERA)Foreign Exchange Management Act (FEMA)
The Foreign Exchange Regulation Act was passed by the Indian Parliament in 1973.The Foreign Exchange Management Act (FEMA), which replaced FERA, was passed by the Indian Parliament in 1999.
FERA was conceived with the notion that foreign exchange is a scarce resource.The idea that foreign exchange is an asset was there when FEMA was created.
FERA’s main goal was to save foreign exchange.FEMA’s main goal is to manage foreign exchange.
The term “authorized person” had a limited definition.The phrase “authorized person” was defined more broadly.
Banking units were not considered “authorized persons” under the definition.Under the meaning of “authorized person,” banking units fell.
FERA rules were to be followed at all times, and any violations were punishable by law.civil crime would be committed if FEMA regulations were broken.
A FERA violation suspect was not given legal representation.Legal assistance will be given to anyone charged with breaking a FEMA rule.
The appeals were submitted to the High Courts because there was no provision for a Tribunal.A Special Director (Appeals) and Special Tribunal are provided.
There was a direct punishment clause for individuals who broke the FERA guidelines.Those found guilty of breaking FEMA regulations must pay a fine beginning on the day of their conviction. The offender will be put in jail if the fine is not paid within 90 days.
The Reserve Bank of India (RBI) must first give its clearance before any money can be transferred for overseas operations.There is no requirement for prior Reserve Bank of India authorisation for international commerce and remittances. (RBI).
IT was not included in the budget.There is provision for IT.

Topic 2: Vibrant Villages Programme

Context: Amit Shah launches Vibrant Villages Programme in Arunachal.

What is the ‘Vibrant Villages Programme’?

Which states come under VVP?

Objectives of the scheme

Topic 3: Maternity benefits to adoptive mothers

Context: The Supreme Court agreed to hear a petition challenging the constitutional validity of Section 5(4) of the Maternity Benefit Act, 1961.

Key details:

What is the Maternity Benefit Act, 1961?

The 2017 amendment

Topic 4: Dabba trading

Context: The National Stock Exchange (NSE) issued a string of notices naming entities involved in ‘dabba trading’

What is ‘dabba trading’?

Topic 5: Ambedkar, Gandhi and the issue of separate electorates

Context: On the occasion of Ambedkar Jayanti, we look at the issue of separate electorates, Dr Ambedkar’s position, the opposition to it from Gandhi, and how it was eventually rejected in favour of reservations.

Ambedkar’s views on caste

Ambedkar’s arguments for separate electorates

Gandhi’s opposition

The Yerawada fast and the Poona Pact

Topic 6: New year celebrations

Context: Prime Minister of India greets everyone on the auspicious occasion of new year celebrations in different states.


Maha Bishuba Pana Sankranti:

Bohag Bihu:


Topic 7: Indelible ink used in elections

Context: Every single election in India has a link with Mysuru, as Mysore Paints & Varnish Ltd. is the only company authorised to produce the indelible ink used in general elections in the country.

Key details:

Topic 7: Uttaramerur inscription

Context: Greeting Tamilians on the occasion of Puthandu, the Tamil New Year, Prime Minister of India mentions an over 1,100 year old inscription from Tamil Nadu.

About the inscription:

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