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My Notes 03-January-2018 30-11--0001

Dear Students,

Please follow My Notes adn My Video 03-January-2018.


03 January 2018 


Fears over FRDI bill misplaced : Government  

Financial resolution and deposit insurance bill - financial ministry clarifications 

Uninsured deposits to be given preference in the event of bank liquidation  

Bail in clause to be invoked only after seeking depositors consent. Clause does not apply to public sector banks. 

Resolution corporation can raise deposit insurance amount from current 1lakh rupees.  

Government stands ready to take care of capital needs of Public sector banks.  

Bail in clause is subjected to Government and parliamentary oversight  

The insured deposits of banks can not be used in case of bail in.  

Electoral bonds for political donations notified  

Government has notified rules and contours of electoral bond scheme meant to improve transparency in electoral funding.  

Electoral bonds will be available for purchase for 10 days each month in January, April, July and October.  

Any Indian citizen or a body incorporated in India can buy bonds. But, KYC norms are compulsory.  

Bonds are available in the multiples of 1000,10,000,1lakh, 10lakh and 1crore. They can only be bought from specified SBI branches.  

Bonds will not carry the name of the payee and will be valid for 15 days.  

Bonds can be used to for donation to a registered political party only. It can be encased only through party’s bank account.  


Questionable remedy  

Key sections of the National medical commission bill need a rethink  

National medical commission bill is intended to replace MCI. The major provisions of the bill are  

Greater distribution of powers - An independant advisory council is being created to supervise National medical commission. But all members of NMC are members of council. Itch undermine council’s independence.  

Bill proposes for a bridge course for alternative medical practitioners to prescribe modern drugs. Instead of this, MBBS doctors and Nurses can be empowered to take up minor surgical procedures.  Another 3year health care degree in the lines of LMP can be proposed.  

On the ledger 

Expenditure data underline the Government’s challenge on fiscal consolidation  

India’s fiscal discipline that has improved India’s ratings with international agencies is slowly slipping. The reasons are  

Total expenditure of the Government has grown. There is an increased expenditure by 14.9%.  

Revenue receipts grew only by 1.1% over the budgetary projections of 6.5% 

Non Tax revenues also did not increase as expected.  

There is an additional burden of recapitalisation of banks.  

Looking for substance in style  

India needs politics with vision centred around an ideology. Such parties have longevity and strong organisation structure based on cadre. Second rung leadership need  to be nurtured as bridges between party leadership and People. In personality driven charismatic leadership, all this are not seen.  

Charismatic leadership in politics will be short lived if it fails deliver welfare and social Justice. Most famous leader of Tamil Nadu MGR was driven by Welfare and Justice objectives.  

The biggest challenge of Tamilnadu is endemic corruption. It needs a leader with experience in governance and constitutional ethos. Personality centric leadership can soon lead to loss of control on governance.  



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