Tourists or migrants to the United Arab Emirates (UAE) with Indian bank accounts will be able to make UPI payments at shops, retail establishments and other merchants in the gulf nation.
What is UPI?
Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI) facilitating inter-bank transactions.
The interface is regulated by the Reserve Bank of India (RBI) and works by instantly transferring funds between two bank accounts on a mobile platform.
How does the service work?
The NPCI and UAE’s Mashreq Bank’s NEOPAY have partnered for this service
It will be mandatory for users to have a bank account in India with UPI enabled on it.
The users will also need an application, like BHIM, to make UPI payments.
Will UPI be accepted everywhere in the UAE?
Payments using UPI will only be accepted at those merchants and shops which have NEOPAY terminals.
Does NPCI have other such international arrangements?
NPCI’s international arm NIPL have several such arrangements with international financial services providers for its products, including UPI and RuPay cards.
Globally, UPI is accepted in Bhutan and Nepal, and is likely to go live in Singapore later this year.
In Singapore, a project to link UPI with the city-state’s instant payment system PayNow is being undertaken by the RBI and the Monetary Authority of Singapore.
The linkage is targeted for operationalization by July this year.
Back2Basics: Bharat Interface for Money (BHIM)
BHIM is an Indian mobile payment App developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI).
Named after B. R. Ambedkar and launched on 30 December 2016 it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
The application supports all Indian banks which use UPI, which is built over the Immediate Payment Service (IMPS) infrastructure and allows the user to instantly transfer money between bank accounts of any two parties.
It can be used on all mobile devices.
Answer this PYQ in the comment box:
Q. With reference to digital payments, consider the following statements:
BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.
Which of the statements given above is/ are correct? (CSP 2018)
In the backdrop of the rapid geopolitical turmoil, PM Modi and his British counterpart Boris Johnson agreed on a new and expanded India-UK defence partnership and vowed to seal an ambitious free trade agreement by the end of the year.
What is the news?
The UK is creating an Open General Export Licence (OGEL) for India to reduce bureaucracy and slashing delivery times for defence procurement.
It will partner with India on new fighter jet technology as well as in the maritime sphere to detect and respond to threats.
What is OGEL?
The open General Licence is a type of license that is used for the export license that is issued by the government for domestic suppliers.
The items that are to be exported in India are categorised into three types. They are prohibited items, restricted items, and freely importable items. These classifications are made based on the nature and use of the products.
The application processing and grant of OEGL will be taken care of by the Department of Defence Production. The process will vary for each case.
The primary aim of the OEGL is to give a boost to the defence exports of India. This will also improve the ease of doing business and imports and exports.
The countries allowed under the OGELs are: Belgium, France, Germany, Japan, South Africa, Spain, Sweden, UK, USA, Canada, Italy, Poland and Mexico.
Items to be exported
The items permitted under OGEL includes components of ammunition & fuse setting device without energetic and explosive material; firing control & related alerting and warning equipment & related system; and body protective items.
Complete aircraft or complete unmanned aerial vehicles (UAVs) and any components specially designed or modified for UAVs are excluded under this license.
The importance of care work is now widely acknowledged and covered in various international commitments such as the SDGs. However, the investment in the care economy has not matched the pace.
What is the care economy?
The care economy includes child care, elder care, and care for people who are ill or disabled and in need of assistance. That care is provided by home-based businesses, care centers, and individuals who work in the homes of those they care for.
The 2019 ILO report ‘A Quantum Leap for Gender Equality’ identified unpaid care work as the biggest impediment to women’s formal employment, as it engaged 21.7% of women between 18-54 years of age, as opposed to 1.7% of men.
A medium-term plan to increase public investment in care economy infrastructure offers India a credible instrument to meet multiple policy objectives.
Care work and Care Economy
A system that consists of activities and relationships involved in meeting the physical, emotional, and psychological aspects of care — remains an integral but undervalued component of economies all over the world, ensuring the welfare of communities. Care work can be direct or indirect, paid or unpaid, short-term (maternity needs) or long-term (care for the disabled and elderly).
Why is there an increasing demand for care work?
Individualization– The trend towards a culture of individualization from collectivism will lead to a higher proportion of dependent people.
Demographic Transition- The proportion of elderly people in the population is rising slowly.
Climate change- Climate change has caused water scarcity and rural food distress which increases care burden on women and children.
The ILO estimates that doubling investment in care relative to 2015 levels would generate 117 million additional jobs by 2030.
According to the International Trade Union Confederation (2019), an investment of 2% GDP in care in India would create 11 million jobs, of which 32.5% would be garnered by women.
The relational nature of care also implies that these jobs are less likely to be automated.
What is the significance of the care economy?
Employment- An analysis by the Women’s Budget Group (2019) showed that if an additional 2% of the GDP was invested in the Indian health and care sector, 11 million additional jobs could be generated, nearly a third of which would go to women.
Greater investment in care services can create an additional 300 million jobs globally, many of which will be for women.
Development- This will help increase female labor force participation and advance Sustainable Development Goal (SDG) 8.
Lifting burden from women- A combination of childcare infrastructure and parental leave policies will offset the burden on women to facilitate higher maternal employment to population ratio.
Reducing Income inequalities- India’s average female daily wage was 59 % of the male wage in 1993-94 and improved to 72 %in 2018-19.
Gender-inclusive economic growth- Women’s unpaid work is valued at 3.1% of GDP in India. Recognizing AWWs, ANMs, ASHAs and domestic help (amongst others), as formal sector workers would allow their economic contribution to be counted in the GDP
Prevention of “occupational downgrading”- It will help women become less likely to end up with lower pay when looking for flexibility, or part-time roles owing to care work responsibilities.
What is the status of care services?
Women’s unpaid work is valued at 3.1% of GDP in India.
In recent years, South Asian countries such as India and Bangladesh have begun investing in physical infrastructure which would improve the provision of care services indirectly.
India’s Economic Survey 2018-19 anticipates three major shifts in public policy, auguring increased attention to the care economy-
Declining working-age population- It has called for suitable regional policies to accommodate inter-State migrant labor, increasing the retirement age in a phased manner, and provisioning pensions and other types of retirement benefits.
Declining school-going population- It has shifted the focus of the National Education Policy 2019 on the merger and consolidation of existing elementary schools and emphasizes on quality of school education.
An increase in healthy life expectancy has also called attention to developing geriatric care in public health.
Maternity leave- India offers 26 weeks of maternity leave, against the ILO’s standard mandate of 14 weeks.
Child care- India has a long history of mandating the provision of creches in factories and establishments but there is limited information on its actual implementation.
Gaps in the current policies?
Unorganized/ Informal sector- The maternity leave coverage extends to only a tiny proportion of women workers in formal employment in India, where 89% of employed women are in informal employment.
Paternity Leave- While increasingly being recognized as an enabler for better balance work and family responsibilities, it is not provided in many countries, including India.
Access to quality and affordable care- Quality Services such as childcare, elderly care and care for people with disabilities is a challenge workers with family responsibilities face globally.
Implementation gaps- While India has a long history of mandating the provision of crèches in factories and establishments, there is limited information on its actual implementation.
Domestic Workers- According to the Government’s 2019 estimates, 26 lakh of the 39 lakh domestic workers in India are female. They also face challenges in accessing decent work.
Way Forward
Comprehensive care policies– Policies that meet SDGs and can be rooted in ILO’s ‘Decent Work Agenda’ principles that begin with recognizing the value of unpaid care work, reducing the drudgery of work, redistributing responsibilities of care work between women and men, remunerating care workers, and representing their concerns.
Strategic Action Plan- In consultation with the relevant stakeholders, the government needs to conceptualize a strategy and action plan for improved care policies, care service provisions and decent working conditions for care workers.
Public good- Care work should be viewed as a collective responsibility and public good.
Investment- Investing in a combination of childcare infrastructure and parental leave policies will have higher maternal employment to population ratio.
Increase spending- India spends less than 1% of its GDP on the care economy; increasing this percentage would unfurl a plethora of benefits for workers and the overall economy.
5 R framework- The ILO proposes a 5R framework for decent care work centered around achieving gender equality. It urges on Recognition, Reduction of unpaid care work, Redistribution of unpaid care work, Rewarding care workers and decent work and Representation in social dialogue and collective bargaining.
Conclusion
Comprehensive care policies demand increased state involvement in investing, formalizing, and regulating the care economy. In addition to providing care benefits, national accounts should also be sensitive to the contribution of unpaid care to economic growth. Gender-sensitive budgeting, satellite accounts, and tax policy are some of the ways in which economic policy can acknowledge and reward care work. Finally, the state would be an important arbiter in engaging with care workers to realize and expand their rights
Please check out the Job description, responsibilities, and experience required before applying. Freshers are also encouraged to apply.
Civilsdaily has become a force to reckon with. With our bold initiatives and maturing innovations, we are pushing the boundaries even further constantly thinking about bettering the learning outcomes for so many students.
We are inviting applications for the job of a Faculty at Civilsdaily for all UPCS GS subjects.
Job Description:
We are looking for a self-motivated and talented Lecturer. In this position, you will be delivering lectures for UPSC GS subjects like Economics and International Relations, Polity, History and Culture, Science Tech, etc. Please read the responsibilities and requirements below. If you feel that you fit the bill then apply using the form below and we would love to have a chat with you!
Responsibilities:
Will be responsible for UPSC GS subject Lectures like Economics and International Relations, Polity, History, and culture, Science Tech, etc.
Current Affairs Development these GS subjects will also be covered in lectures.
The job is offline, so, Delhi-based profiles are needed.
Skills Required:
Strong, versatile, and effective Verbal skills
Able to deliver Lectures in easy to understand manner with innovations to help students grasp concepts faster
Command in the subjects you will be teaching.
Well-versed with Current affairs.
Good organizational, planning, and coordination skills
Ability to multi-task and re-prioritize as needed
Experience requirement:
The minimum level of experience required is UPSC Interview.
If you are a graduating/postgraduate in those subjects, then that would be an advantage.
Please share the links/recorded video of your lectures (mandatory)
To apply, please click on the link below and fill out the form:
Maldivian President Ibrahim Mohamed Solih issued a decree banning the ‘India Out’ campaign, now led by former President Abdulla Yameen, terming it a “threat to national security”.
The India-Out Campaign
Maldivian protesters recently demanded the Solih administration to ‘stop selling national assets to foreigners’, implying India.
‘India Out’ campaign in Maldives had started sometime last year as on-ground protests in the Maldives and later widely spread across social media platforms under the same hashtag.
It is not related to people-to-people conflict (Indian diaspora) but is discontent on close relationship between Maldivian government & India.
Causes for the anti-India sentiments
Political instability: The anti-India sentiment is nearly a decade old and can be traced back to when Abdulla Yameen Abdul Gayoom became president in 2013. He used anti-India sentiments for his political mobilization and started tilting China.
Controversy over helicopter gift: Two Dhruv Advanced Light Helicopters (ALF) that were given by India to the Maldives for ocean search-and-rescue operations. Opposition tried to portray this as military presence in the country.
Confidential agreements: Most agreements being signed between the Ibrahim Solih government and India are backdoor and has not been publicly discussed in the Maldives Parliament.
Alleged interference in domestic politics: India being a big neighbour, there are unsubstantiated perceptions & allegations on Indian Diplomats stationed in Maldives interfering in Domestic affairs.
Restoration of ties
Ibrahim Mohamed Solih who became President in 2018 has restored Maldives close ties with India.
India-Maldives Relations: A backgrounder
India and Maldives are neighbors sharing a maritime border.
Both nations established diplomatic relations after the independence of Maldives from British rule in 1966.
India was one of the first nations to recognize Maldives’ independence.
Since then, India and Maldives have developed close strategic, military, economic and cultural relations.
Maldivians generally regard Indians and India as a friend and trusted neighbor in the field economic, social and political.
Major irritants in ties
Political Instability: India’s major concern has been the impact of political instability in the neighborhood on its security and development.
Increasing radicalization: In the past decade or so, the number of Maldivians drawn towards terrorist groups like the Islamic State (IS) and Pakistan-based jihadist groups has been increasing.
Inclination towards terror: Radicalism in the island nation has increased the possibility of Pakistan-based terror groups using remote Maldivian islands as a launch pad for terror attacks against India and Indian interests.
Chinese affinity: China’s strategic footprint in India’s neighborhood has increased. The Maldives has emerged as an important ‘pearl’ in China’s “String of Pearls” construct in South Asia.
Recent gestures by India
[1] 2014 Malé drinking-water crisis
In the wake of a drinking water crisis in Malé in December 2014, following collapse of the island’s only water treatment plant, Maldives urged India for immediate help.
India came to rescue by sending its heavy lift transporters like C-17 Globemaster III, Il-76 carrying bottled water.
[2] 2020 Covid-19 crisis
During the COVID-19 crisis of 2020, India extended help to Maldives in the form of financial, material and logistical support.
Also, the IAF airlifted 6.2 tonnes of essential medicines and hospital consumables to Maldives, as part of ‘Operation Sanjeevani’.
[3] Greater Male Connectivity Project
India has recently announced the signing of a $500-million infrastructure project for the construction of the Greater Malé Connectivity Project (GMCP).
This infrastructure project, the largest-ever by India in the Maldives, involves the construction of a 6.74-km-long bridge and causeway link.
Why is Maldives significant for India?
Increasing maritime cooperation: As maritime economic activity in the Indian Ocean has risen dramatically in recent decades, the geopolitical competition too in the Indian Ocean has intensified.
Toll Gate in Indian Ocean: It is situated at the hub of commercial sea-lanes running through the Indian Ocean. More than 97% of India’s international trade by volume and 75% by value passes through the region.
Naval cooperation: Maldives is an important partner in India’s role as the net security provider in the Indian Ocean Region.
Important SAARC member: Besides, Maldives is a member of the South Asian Association for Regional Cooperation (SAARC) and the South Asia Subregional Economic Cooperation (SASEC).
People To People Contact: There is a significant population of Maldivian students in India. They are aided by a liberal visa-free regime extended by India. There is also medical tourism.
Major destination for Tourists: Tourism is the mainstay of the Maldivian economy. The country is now a major tourist destination for some Indians and a job destination for others.
Conclusion
There is a significant Indian diaspora in the Maldives. Innumerable Indians work across the hospitality, education, and health-care sectors of the Maldives economy.
India must use its Diaspora more extensively for strengthening its relations.
The government is reportedly considering a regulatory framework for special purpose acquisition companies (SPACs) to lay the ground for the possible listing of Indian companies through this route in the future.
What are SPACs?
An SPAC, or a blank-cheque company, is an entity specifically set up with the objective of acquiring a firm in a particular sector.
They aim to raise money in an initial public offering (IPO) without any operations or revenues.
The money that is raised from the public is kept in an escrow account, which can be accessed while making the acquisition.
If the acquisition is not made within two years of the IPO, the SPAC is delisted and the money is returned to the investors.
While SPACs are essentially shell companies, a key factor that makes them attractive to investors are the people who sponsor them.
Globally, prominent celebrities have participated in SPACs.
Why in news?
According to reports, the Company Law Committee was set up in 2019 to make recommendations to boost ease of doing business in India.
This committee has made this suggestion regarding SPACs in its report submitted to the government recently.
The concept of SPAC has existed for nearly a decade now, and several investors and company promoters have used this route to take their investments public.
The vehicle gained momentum in 2020, which was a record year for SPAC deals; this record was broken in 2021.
Where does India stand?
Early last year, renewable energy producer ReNew Power announced an agreement to merge with RMG Acquisition Corp II, a blank-cheque company.
This became the first involving an Indian company during the latest boom in SPAC deals.
As things stand now, the Indian regulatory framework does not allow the creation of blank cheque companies.
The Companies Act, 2013 stipulates that the Registrar of Companies can strike off a company if it does not commence operations within a year of incorporation.
Risk factors around SPACs
The boom in investor firms going for SPACs and then looking for target companies have tilted the scales in favour of investee firms.
This has the potential, theoretically, to limit returns for retail investors post-merger.
SPACs are mandated to return money to their investors in the event no merger is made within two years.
However the fineprint of several SPAC prospectuses shows that certain clauses could potentially prevent investors from getting their monies back.
A team of researchers from Stanford University have said that on one of Jupiter’s moons Europa, a prime candidate for life in the solar system might have abundance of water pockets beneath formations called double ridges.
About Europa
Europa is slightly smaller than Earth’s moon and its diameter is about one-quarter that of the Earth.
Even though Europa has a very thin oxygen atmosphere, it is considered one of the most promising places in the solar system to find present-day environments that are suitable for life beyond the Earth.
It is also believed that underneath Europa’s icy surface the amount of water is twice that on Earth.
NASA notes that scientists believe Europa’s ice shell is 15-25 km thick and is floating on an ocean, which is estimated to be 60-150 km deep.
Interestingly, while its diameter is less than the Earth’s, Europa probably contains twice the amount of the water in all of the Earth’s oceans.
NASA is expected to launch its Europa Clipper in 2024.
The module will orbit Jupiter and conduct multiple close flybys to Europa to gather data on the moon’s atmosphere, surface and its interior.
What is the new finding?
It is already known that Europa, whose surface is mostly solid water ice, contains water beneath it.
The researchers are now saying that the double ridges – the formations which are most common on Europa’s surface and are similar to those seen on Earth’s Greenland ice sheet .
They are formed over shallow pockets of water.
Significance of the recent findings
The central implication is that the shallow water pockets beneath the double ridge increase the potential habitability of the moon.
The ice shell, which is potentially miles thick, has been a difficult prospect for scientists to sample.
But according to the new evidence, the ice shell is believed to be less of a barrier and more of a dynamic system.
This means that the ice shell does not behave like an inert block of ice, but rather undergoes a variety of geological and hydrological processes.
This suggests active volcanism and thus a possibility for life.
Amidst stiff resistance from Ukraine in the ongoing war and harsh sanctions imposed by the West, Russia went ahead and tested its new Inter Continental Ballistic Missile (ICBM) Sarmat.
What is Sarmat?
The RS-28 Sarmat (NATO name Satan-II) is reported to be able to carry ten or more warheads and decoys
It has the capability of firing over either of the earth’s poles with a range of 11,000 to 18,000 km.
It is expected to pose a significant challenge to the ground-and-satellite-based radar tracking systems of the western powers, particularly the USA.
The ten warheads are Multiple Independently-Targetable Re-entry Vehicles and each has a blast yield of .75 MT.
The Sarmat will also be the first Russian missile which can carry smaller hypersonic boost-glide vehicles. These are manoeuvrable and hard to intercept.
It is a liquid-fuelled missile as compared to US ICBMs which have moved on to solid fuel systems.
Who is it named after?
The Sarmat is named after nomadic tribes that roamed the steppes of present-day Southern Russia, Ukraine and Kazakhstan in the early medieval period.
Sarmatians were highly developed in horsemanship and warfare.
It goes on to say that the administrative capabilities and political expertise of Sarmatians contributed to their gaining widespread influence and by the 5th century BC.
They held control of the land between the Urals and the Don River.
In the 4th century they crossed the Don and conquered the Scythians, replacing them as rulers of almost all of southern Russia by the 2nd century.
Was Russia known to be developing this missile?
It was widely known that Russia was developing a new ICBM to replace its older ones.
An announcement in this regard was made by Vladimir Putin in 2018 while making his State of the Nation address to the Federal Assembly.
He had stated at the time that the first Regiment fully armed with Sarmat ICBM will be operational by the end of 2022.
The deteriorating relations between Russia and the Western Powers is said to have given an impetus to its development.
