1. Risky recourse: LIC s proposal to acquire a majority stake in IDBI Bank raises regulatory concerns

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3 1. Risky recourse: LIC s proposal to acquire a majority stake in IDBI Bank raises regulatory concerns Ȧ R T I C L E S 2. Seychelles template: Soft diplomacy in the Indian Ocean Region will serve India better 3. Bhima-Koregaon and the fault in our laws: The Unlawful Activities (Prevention) Act must be cleansed of its vast discretionary powers 4. Gearing up for space wars: The implications of the American plans for a space weapons corps are still unclear 5. The dream of being an AI powerhouse: Digitising existing data and having a clear deadline are key to realising India s ambitions 6. At the receiving end: Every interest group, whether governments, corporates or activists, expects a newspaper to mimic its world view 7. Still thriving: Contrary to popular belief, there is every reason to believe that the West will dominate the 21st century

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6 . P R O F I L E PRASHANT MAVANI MSc. in Management, University of Surrey (UK) Senior Faculty: StudyIQ Download PDF notes of this lecture from my FB Page

7 Seychelles template New Delhi has clearly opted for a charm offensive in the Indian Ocean Region (IOR). Seychelles President Danny Faure was in India Assumption Island agreement being put on hold It was about building a naval base on the island Discussion since 2003 & signed 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. Opposition protests about loss of sovereignty Seychelles would build the naval facility on its own. 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 purposes.

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10 Risky recourse Insurance Regulatory and Development Authority of India (IRDA) Life Insurance Corporation of India to increase its stake in the ailing state-owned IDBI Bank to 51%. IDBI placed under the Reserve Bank of India s prompt corrective action framework in May 2017 as a consequence of its non-performing assets rising beyond a threshold. IDBI Bank got 12,865 crore in capital infusion from the government in the last fiscal. The bank posted a net loss of 8,238 crore in the 12 months ended March 31, 2018 The government clearly sees it as a relatively painless way to recapitalise the bleeding bank without adversely impacting its fiscal position. State-controlled cash-rich corporations to help bail out other stateowned companies or lenders are too significant to be glossed over.

11 Bhima-Koregaon and the fault in our laws Drawing attention to the multiple Public Safety Acts and Defence of India Acts that had been the favourite weapons of the colonial regime Unlawful Activities (Prevention) Act (UAPA): vast discretionary powers are conferred upon state agencies, judicial oversight is rendered toothless, and personal liberty is set at naught. Section 43D(5) of the Act prohibits courts from granting bail effectively a warrant for perpetual imprisonment without trial. Maulana Hasrat Mohani: so long as you do not prove anything openly against anybody in a court of law, it should not be lawful to detain anybody. The power to keep citizens incarcerated for long periods of time, on vague charges, and without affording them an opportunity to answer their accusers in a swift and fair trial, is an anathema to democracy and the rule of law.

12 Gearing up for space wars U.S. President Donald Trump: space force or a sixth branch of the American armed forces Purpose: to deny the Russians and the Chinese advantages in space. Air Force: is not entirely enthusiastic about this new service James Mattis: ongoing missions, budgetary allocations, joint warfare Serious losses: spacecraft and debris, energy requirements are enormous American military goals, which are still undefined in space, could still have consequences for India PAROS, or the prevention of an arms race in outer space For its part, New Delhi would do well to come out with an official white paper on space weapons. More than their war-fighting attributes, space weapons have one principal function deterrence.

13 The dream of being an AI powerhouse NITI Aayog has chalked out an ambitious strategy for India to become an artificial intelligence (AI) powerhouse. Definition: AI is the use of computers to make decisions that are normally made by humans. NITI Aayog envisions: agriculture, healthcare, education, smart cities and infrastructure, and transport In agriculture, for example, machines will provide information to farmers on the quality of soil, when to sow, where to spray herbicide, and when to expect pest infestations. 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.

14 The first problem is data. Unfortunately, India has sparse data in sectors like agriculture, and this is already hampering AI-based businesses today. Bengaluru-based Intello Labs Climate-Connect, a Delhi-based firm, which uses AI to predict the amount of power a solar plant will generate every 15 minutes. Deep learning needs data over many years to predict generation. Another problem for AI firms today is finding the right people. Can India then really become an AI garage for 40% of the world, as NITI Aayog envisions? AI is a collaborative process in which scientists developing solutions for certain sectors need an intimate knowledge of those sectors. NITI Aayog s ambitious road map does not mention deadlines or funding.

15 Still thriving One tends to forget that the most populous of the Western countries, the U.S., has a growing population and remains the most productive and innovative in the world, as well as militarily the most powerful. The West continues to have most of the finest educational and research facilities, and takes in the most brilliant and creative minds from the rest of the world. The rich West hangs together Norway: with far fewer inhabitants than Bengaluru, that small Nordic country has a sovereign pension fund of $1 trillion, the outcome of a kind of prudence and foresight that ought to have left countries like Venezuela, Nigeria and Congo enormously wealthy, if only those who ran them had the integrity and wisdom to value public good over their own.

16 The robust legal and administrative systems in the West, the kind of social security as well as democracy its people enjoy, the accountability insisted upon, along with quick retribution of wrongdoing makes life there so much more secure and predictable. And so, much as the world looks on the West as a spent force, there is every reason to believe that it will dominate the 21st century, as it has the two before that. The rest of the world badly needs a revolution in governance and public accountability to overcome seemingly insurmountable environmental, social and economic challenges.

17 Important News GST monthly revenue will exceed 1.1 lakh cr: Goyal A 216-foot-tall celebration of Ramanuja: The statue of the Bhakti saint Tax department launches instant PAN card service Row over U.K.-India meet postponement Agni-V to be part of nuclear arsenal soon India s longest-range ballistic missile, Agni-V, will be inducted into the nuclear arsenal very soon, according to official sources. The Intermediate Range Ballistic Missile (IRBM) with a range of over 5,000 km can reach most parts of China. INS Sahyadri wins praise for integrating yoga into regime Afghanistan bomber targeted convoy of Sikhs Iran vows to foil U.S. efforts to block its oil exports Is bioplastic a solution to plastic pollution?

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21 Answers- 1. When is the International Nurses Day celebrated every year? A) May 12 B) May 13 C) May 14 D) May Which Day is celebrated every year on second Saturday of May? A) World Forest Day B) World Migratory Bird Day C) World Family Day D) World Water Day

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23 Questions- 1. India signed USD 200 million loan deal with which organisation for National Nutrition Mission (POSHAN Abhiyaan)? A) International Monetary Fund B) Asian Development Bank C) World Bank D) United Nations 2. Who was elected as the new Prime Minister of Malaysia? A) Daim Zainuddin B) Mahathir bin Mohamad C) Najib Razak D) Abdullah Ahmad Badawi

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