Search results for: “”

RBI’s gold reserves rise to 794.64 tonne

Central Idea: The RBI has increased its gold reserves by 34.22 tonnes YoY to reach 794.64 tonnes at the end of March 2023, according to the central bank’s data.

What are Gold Reserves?

Gold reserves refer to the physical gold holdings that a central bank or a country holds as a part of its foreign exchange reserves.
Central banks may acquire gold reserves through various means, including purchases from other central banks, international organizations, or commercial banks, and from domestic production or importation.
Gold reserves are typically held in the form of gold bars, which are stored in secure vaults or depositories.

Why Gold?

Gold is considered a safe-haven asset and has been historically used to back a country’s currency.
Holding gold reserves is seen as a way to hedge against inflation, currency fluctuations, and other economic uncertainties.

Significance of Gold Reserves

Economic stability: Gold reserves are often seen as a symbol of economic stability and confidence, especially during times of financial crisis or uncertainty. Holding gold reserves can help central banks to maintain the stability of their currency and the economy.
Diversification: Gold is considered a safe-haven asset and can provide diversification to a country’s foreign exchange reserves portfolio. Diversification helps to reduce the risks associated with any single asset class.
Hedge against inflation: Gold is considered an inflation hedge as its value tends to increase during times of high inflation or when the value of a currency is depreciating. Holding gold reserves can help to protect the purchasing power of a country’s currency.
International transactions: Gold reserves can be used as collateral for loans and international transactions. Countries can also use gold reserves to settle international debts.
Confidence-building: The level of a country’s gold reserves can be an indicator of the country’s financial strength and stability. High levels of gold reserves can help to build confidence among investors and other countries.

Breakdown of RBI’s gold reserves

Total: As of March-end 2023, the RBI held 794.64 metric tonnes of gold, including gold deposits of 56.32 metric tonnes.
Domestic and abroad: Out of the total gold reserves, 437.22 metric tonnes of gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements (BIS), while 301.10 metric tonnes of gold is held domestically.

How much do these gold reserves value?

In value terms (USD), the share of gold in the total foreign exchange reserves increased from about 7.06% as of September-end 2022 to about 7.81% as of March-end 2023, as per the RBI’s report.
During the half-year period, the reserves increased from $532.66 billion as of September-end 2022 to $578.45 billion as of March-end 2023.

New terminologies

Foreign currency assets (FCA): a component of forex reserves that includes major traded currencies held by the central bank of a country.

Special drawing rights (SDRs): an international reserve asset created by the International Monetary Fund (IMF) to supplement member countries’ official reserves.

Reserve tranche position: a component of IMF’s financial accounts that represents a country’s reserve position in the organization.

Back2Basics: Foreign Exchange (Forex) Reserve

Foreign exchange reserves are important assets held by the central bank in foreign currencies as reserves.
They are commonly used to support the exchange rate and set monetary policy.
In India’s case, foreign reserves include Gold, Dollars, and the IMF’s quota for Special Drawing Rights.
Most of the reserves are usually held in US dollars, given the currency’s importance in the international financial and trading system.
Some central banks keep reserves in Euros, British pounds, Japanese yen, or Chinese yuan, in addition to their US dollar reserves.

India’s forex reserves cover:

Foreign Currency Assets (FCAs)
Special Drawing Rights (SDRs)
Gold Reserves
Reserve position with the International Monetary Fund (IMF)

Get an IAS/IPS ranker as your personal mentor for UPSC 2024 | Schedule your FREE session and get the Prelims prep Toolkit!

May 9, 2023

India’s delayed implementation of mandatory Drug Recall Law
Central Idea
- Abbot published a public notice in newspapers, alerting people about a mislabelled batch of medicine that it had inadvertently shipped to the market.
- Such recalls take place regularly in the US but it is uncommon in India for domestic or foreign pharmaceutical companies to recall substandard or mislabelled drugs.
Recall of Medicines: India story

India has been mulling the creation of a mandatory recall law for substandard drugs since 1976.
- Drugs Consultative Committee (DCC) meeting in 1976: Resolved to have greater cooperation between state drug controllers to recall and destroy drugs that failed tests.
- DCC meetings in 1989, 1996, 1998, 2004, 2007, and 2011: Issue of recalls came up but resulted in no amendments to the Drugs & Cosmetics Act.
- CDSCO proposes draft recall guidelines in 2012: National regulator lacks power to convert guidelines into binding law
- DCC and Drugs Technical Advisory Board meetings in 2016 and 2018-2019: Issue of recalls resurfaces but India still lacks a recall law, 46 years on.
Why there is no concrete law in India?
- Complex drug regulatory issues: The Drug Regulation Section of the Union health ministry is not equipped to tackle complex drug regulatory issues.
- Multiple agencies: India has highly fragmented regulatory structure, with each state having its own drug regulator.
- Exposing the loopholes: India’s drug regulators are aware that a mandatory drug recall system, will bring to public attention the poor state of affairs in India’s pharmaceutical industry.
- Evading accountability: The delay in implementing a recall law exposes the lack of accountability and interest in protecting public health.
Consequences of delay
- Drug failure hazard: Dozens of drugs fail random testing in government laboratories every month.
- Substandard quality: The lack of a mandatory recall law means substandard drugs, even those with dangerous consequences for consumers, can circulate in the market.
- Public health crisis: People, including children, are likely dying or suffering from adverse health events because substandard drugs are not swiftly removed from the market.
Reasons behind

The lack of a mandatory recall law in India can be attributed to various factors, including-
1. Lack of expertise
2. Apathy
3. Vested interests in enabling the growth of the pharmaceutical industry.
Way forward
- Implementation of a mandatory drug recall law: The Indian government can take steps to implement a mandatory drug recall law. This law should have teeth to hold pharmaceutical companies accountable for their products.
- Centralization of regulatory powers: To create an effective recall mechanism, the responsibility of recalling drugs has to be centralized, with one authority that has the legal power to hold companies liable for failures to recall drugs from across the country, and further, to also search and seize batches of failed medicine.
- Streamlining of regulatory processes: The Indian government can take steps to streamline regulatory processes to reduce the time taken for approvals and ensure that drugs are tested thoroughly before they enter the market.
- Capacity building of regulatory bodies: The Drug Regulation Section of the Union health ministry should be equipped with the necessary resources, expertise and mandate to tackle complex drug regulatory issues.
- Encouragement of ethical pharmaceutical companies: The Indian government can encourage ethical pharmaceutical companies by providing incentives to companies that comply with regulatory standards, penalizing those that do not, and promoting transparency in drug pricing.
Get an IAS/IPS ranker as your personal mentor for UPSC 2024 | Schedule your FREE session and get the Prelims prep Toolkit!
May 9, 2023
Manipur Riots: CJI questions HC’s power over ST List
Central Idea
- The Chief Justice of India has questioned why a 23-year-old Constitution Bench judgment was not shown to the Manipur High Court, which directed the state government to consider the inclusion of Meetei/Meitei community in the Scheduled Tribe list.
- The Chief Justice observed that a High Court does not have the power to direct changes in the Scheduled Tribes List, as it is a Presidential power to designate a Scheduled Caste or Scheduled Tribe.
What is the Scheduled Tribes List?
- Article 342(1) of the Constitution states that it is entirely the President’s power to designate a Scheduled Caste or Scheduled Tribe.
- It is not open to State governments, courts, tribunals, or any other authority to modify, amend or alter the list of Scheduled Tribes specified in the notification issued under clause (1) of Article 342.
- A notification issued under clause (1) of Article 342 can be amended only by law to be made by Parliament.
Notable Judgements:

(1) The State of Maharashtra vs. Milind verdict
- The five-judge Constitution Bench in State of Maharashtra versus Milind, in November 2000, held that a notification issued under clause (1) of Article 342, specifying Scheduled Tribes, can be amended only by law to be made by Parliament.
- Any tribe or tribal community or part of or group within any tribe can be included or excluded from the list of Scheduled Tribes only by Parliament by law and by no other authority.
(2) FCI vs. Jagdish Balaram Bahira
- The settled law in the Milind verdict was referred to by a July 2017 judgment authored by Justice Chandrachud for a three-judge Bench of the Supreme Court in CMD, FCI versus Jagdish Balaram Bahira to note that the Presidential Order under Article 342 regarding Scheduled Tribes was always “final”.
Back2Basics: Scheduled Tribes
- The term ‘Scheduled Tribes’ first appeared in the Constitution of India.
- Article 366 (25) defined scheduled tribes as “such tribes or tribal communities or parts of or groups within such tribes or tribal communities as are deemed under Article 342 to be Scheduled Tribes for the purposes of this constitution”.
- Article 342 prescribes procedures to be followed in the matter of specification of scheduled tribes.
- Among the tribal groups, several have adapted to modern life but there are tribal groups who are more vulnerable.
- The Dhebar Commission (1973) created a separate category “Primitive Tribal Groups (PTGs)” which was renamed in 2006 as “Particularly Vulnerable Tribal Groups (PVTGs)”.
How are STs notified?
- The first specification of Scheduled Tribes in relation to a particular State/ Union Territory is by a notified order of the President, after consultation with the State governments concerned.
- These orders can be modified subsequently only through an Act of Parliament.
Status of STs in India
- The Census 2011 has revealed that there are said to be 705 ethnic groups notified as Scheduled Tribes (STs).
- Over 10 crore Indians are notified as STs, of which 1.04 crore live in urban areas.
- The STs constitute 8.6% of the population and 11.3% of the rural population.
Get an IAS/IPS ranker as your personal mentor for UPSC 2024 | Schedule your FREE session and get the Prelims prep Toolkit!
May 9, 2023
Misleading food ads and regulations to curtail them
Central idea: Misleading claims
- FSSAI flagged 32 cases of food business operators (FBOs) making misleading claims and advertisements in contravention of the Food Safety and Standards (Advertisements & Claims) Regulations, 2018.
- The cumulative count of such offences has shot up to 170 in the last six months.
- FBOs urged to avoid making unscientific and exaggerated claims for larger consumer interest.
Regulations for tackling misleading ads and claims
- Regulations include-
1. FSSAI’s Food Safety and Standards (Advertisements & Claims) Regulations, 2018
2. CCPA’s regulations, and Cable Television Network Rules, 1994.
- FSSAI seeks truthful, unambiguous, meaningful, and scientifically substantiated claims.
- Claims suggesting suitability for prevention, alleviation, treatment, or cure of a disease, disorder, or particular psychological condition prohibited unless permitted under the regulations of the FSS Act, 2006.
Response of FSSAI
- Scrutinized products in categories such as health supplements, organic products, fast-moving consumer goods (FMCG) products, and staples endorsing certain health and product claims.
- Alleged violators include manufacturers and/or marketers of nutraceutical products, refined oils, pulses, flours, millet products, and ghee.
- Cases referred to concerned licensing authorities to issue notices and withdraw the misleading claims or scientifically substantiate them.
- Failure to comply would invite penalties of up to Rs 10 lakh, suspension, or cancellation of licenses for repeated offenses.
Recent observations in the food advertising ecosystem
- Non-disclosure: Close to 788 ads processed against food advertising, about 299 related to non-disclosure by food influencers, and 490+ ads found to be misleading.
- Fairly violative sector: Violations across different food categories and food.
Definitions of various terms
- Natural food product: A single food derived from a recognized natural source with no additives or chemicals.
- Fresh: This reference is allowed only for products not processed except washing, peeling, chilling, trimming, cutting, or low-dose irradiation.
- Pure: It is used for single-ingredient foods with nothing added and devoid of all avoidable contamination.
Expectations from a consumer’s point of view
- Clinical data: Companies need to provide clinical data about the outcomes pertaining to the control group, the administered group, and the observed period of the claimed outcomes.
- Interpretable ads: Advertisements need to be modified in a way a consumer can interpret.
Get an IAS/IPS ranker as your personal mentor for UPSC 2024 | Schedule your FREE session and get the Prelims prep Toolkit!
May 9, 2023
Cyclone Mocha developing in Bay of Bengal
Central Idea: The Indian Meteorological Department (IMD) has warned of a developing cyclonic or low-pressure area in the Bay of Bengal. It would be named Cyclone Mocha (pronounced ‘Mokha’).

What is a cyclone and how are they formed?
- A cyclone is a low-pressure system that forms over warm waters.
- Warm seas present ripe conditions for the development and strengthening of cyclones.
- The air rises and blows in an anticlockwise direction around the low in the northern hemisphere and in a clockwise direction in the southern hemisphere.
- As warm air rises and cools, water vapour condenses to form clouds and this can lead to rains.
- Cyclones can cause significant impacts on life and property, including storm surge, flooding, extreme winds, tornadoes and lightning.
Requirements for a Cyclone to form

There are six main requirements for tropical cyclogenesis:
1. Sufficiently warm sea surface temperatures
2. Atmospheric instability
3. High humidity in the lower to middle levels of the troposphere
4. Enough Coriolis force to develop a low-pressure centre
5. A pre-existing low-level focus or disturbance
6. Low vertical wind shear
How are cyclones named?
- Cyclones that form in every ocean basin across the world are named by the regional specialized meteorological centres (RSMCs) and Tropical Cyclone Warning Centres (TCWCs).
- The IMD names the cyclones developing over the north Indian Ocean after following a standard procedure.
- In 2000, a group of nations called WMO/ESCAP decided to start naming cyclones in the region.
- After each country sent in suggestions, the WMO/ESCAP Panel on Tropical Cyclones (PTC) finalized the list.
- This cyclone will be named Mocha (Mokha), a name suggested by Yemen after the Red Sea port city, which is known to have introduced coffee to the world over 500 years ago.
Why is it important to name cyclones?
- Adopting names for cyclones makes it easier for people to remember, as opposed to numbers and technical terms.
- It’s easier and less confusing to say “Cyclone Titli” than remember the storm’s number or its longitude and latitude.
- Apart from the general public, it also helps the scientific community, the media, disaster managers etc.
- With a name, it is also easy to identify individual cyclones, create awareness of its development, rapidly disseminate warnings to increase community preparedness etc.
Get an IAS/IPS ranker as your personal mentor for UPSC 2024 | Schedule your FREE session and get the Prelims prep Toolkit!
May 9, 2023
What does the Constitution say about the sovereignty of India?
Central Idea
- The article revolves around the issue of a political party filing a complaint against a politician of foreign origin with the Election Commission of India (ECI).
- She had allegedly been advocating the secession of Karnataka from India in her election speeches.
Definition of sovereignty
- Sovereignty is the idea of having supreme authority over a defined territory.
- In Western philosophy, the concept is used to describe the supremacy of the state over the people being governed.
- The state has a legitimate claim to sovereignty in exchange for providing protection to its citizens, keeping society cohesive and at peace, and controlling law and order.
Sovereignty in India’s Constitution
- The word sovereignty appears in the beginning of the Preamble to the Constitution of India as the first attribute of the independent republic of India.
- Its placement as the first among the core principles of the republic underlines its importance in the Constitution.
- Sovereignty is invoked in the Indian Constitution to “declare the ultimate sovereignty of the people of India and that the Constitution rests on their authority.”
- It is mentioned in the Constitution under Fundamental Duties, and citizens have a duty to uphold and protect the sovereignty, unity, and integrity of India.
Relationship of Indian states with the sovereign Union
- The Indian political system is described as “quasi-federal.”
- India is a Union of States, and the component units have no freedom to secede or break away from it.
- The Indian setup is more unitary in nature than the federal one, and the central government has more powers than the states.
- The choice of a unitary bias that the Constitution makers made was possibly rooted in the difficulty of getting around 600 princely states to accede to India.
Provisions attesting to the superior position of the Centre
- The States in India need not be consulted in the matter of amendment to the bulk of the Constitution.
- Governors in states are appointed “during the pleasure” of the President and are seen as representatives of the Union in the States.
- The Sixteenth Amendment of 1963 laid down that even the advocacy of succession under Article 19 (1) will not be protected under law in the name of Freedom of Speech as directed under Article 19 (2).
- The right to alter the boundaries of states and to create new states lies with Parliament alone.
- The Constitution offers no guarantee to the States against their territorial integrity without their consent since it was not a result of an ‘agreement’ between the States.
These provisions demonstrate the superior position of the Centre in the Indian political system.

Get an IAS/IPS ranker as your personal mentor for UPSC 2024 | Schedule your FREE session and get the Prelims prep Toolkit!
May 9, 2023
2 Days-UPSC Workshop: Mastering 4 Most Important NCERTs for IAS 2024 | Building solid Foundation | Book your FREE seat (Limited entry)
The most important 2-Days Offline Workshop in Pune Branch for UPSC-2024 by Shubham sir and Pravin sir on Mastering NCERTs to master Basic Subjects! Limited entry

Book your seat FREE | 2-Day UPSC 2024 Offline Workshop with Senior IAS Mentors

Register Here

What would be the grave error? The answer is “to exclude NCERTs.” If you want to enjoy UPSC, you must learn to value NCERTs.

The best place to begin your UPSC preparation is with NCERTs, which are essential for success. They serve as a foundation and can help you comprehend essential and vital issues faster. Is it, nevertheless, important to read all NCERTs? Finding reliable sources for this information may require some effort.

Alert! Reading NCERTs isn’t enough to lead; you’ll only succeed in the IAS exam if you grasp how to read NCERTs, which 4 books we need to study specifically for mastering the basic subjects like Modern History, Polity Indian Economy, and Geography.

Shubham sir and Senior IAS Mentor, Pravin sir will take 2 Days of offline Workshop sessions on Mastering 4 Most Important NCERTs for IAS 2024.

Join Telegram group (https://t.me/CDMaharashtra) by Pravin sir and stay updated with the latest notes, strategy sessions and FREE guidance by senior mentors.

Day 1: Masterclass on NCERT: Modern History and Polity

11th May (Thursday) 2023, 7:30 P.M

Shubham sir, Senior IAS mentor at Civilsdaily will be taking an Offline workshop where he will be practically demonstrating How to build a solid foundation on Modern History and Polity by Mastering the 2 most essential NCERT Books.

In this enlightening webinar, sir will share:
1. What are the best 2 to 3 NCERTs to read, to build a solid foundation on Modern History and Polity?
2. Why are NCERT books considered the cornerstone for preparing all basic subjects?
3. How to retain conceptual vs factual information in NCERTs.
4. How to improve bit by bit if you are weak in any subject?
5. Political Science covers the country’s legal and fundamental aspects, which makes it an extremely important subject. How to & what to cover from NCERTs so that ‘Laxmikant’ becomes easier to read and revise.
6. NCERT Books provide the most important illustrations. How to read and revise them. How to use them while making notes.
Don’t miss out on this super important workshop. Register below for a 1-1 LIVE Session

Book your seat for FREE

Day 2: Masterclass on NCERT: Economics and Geography

12th May (Friday) 2023, 7:30 P.M

Pravin sir, a senior IAS mentor/faculty at Civilsdaily Pune Branch will take an interactive offline session where he will engage and give a Digital Board Practical demonstration on How to build a solid foundation on Indian Economy and Geography by Mastering 2 most essential NCERT Books.

What to Expect in the Webinar:

In this Practical Offline Session, Pravin sir will share:
- How to utilize NCERT Books? How to improve your reading & analytical skills from NCERTs which are super crucial for UPSC-CSE? Which portion of every NCERT must be utilized for making notes?
- Best, minimum NCERT materials for UPSC-CSE Preparation. Do’s & Don’t, Understanding the science behind how society works is important, so what are the best 2 to 4 NCERTs to read?
- For foundational preparation for prelims, students can read & make quick revision notes with the NCERT books, to begin, their history preparation. What are those books that have proven to be highly beneficial in the case of students that come from commerce or science backgrounds?
- It is critical to understand Indian and global geography. Maps and information about different climatic regions provided in NCERT Geography books help answer many questions about geography. How to learn & what maps/diagrams/footnotes are not to be ignored will also be discussed.
- The subject of the Indian Economy covers India’s current and past economic aspects, which makes it an important topic. Knowing its fundamentals is crucial for UPSC exams. So, What is to be learned by heart & which NCERTs are fit for the economy will be comprehensively discussed.
- What is the difference between ‘The Old Version NCERTs & ‘The New Version NCERTs & which subjects, and which versions of NCERTs you should focus on, this will also be discussed thoroughly in this Ask me anything session.
- The untold secret of ‘how & from where UPSC asks direct questions from NCERTs. How to build command over NCERTs is going to be another crucial point of this awesome session.
Book your seat for FREE

Why Should You Attend?

Whether you’re taking the test for the first time or repeating it after failing, this offline Workshop at Pune is required viewing for everyone planning to apply for the UPSC 2024.

Be sure to take advantage of this important practical workshop/ Register immediately to receive their professional advice on redesigning your UPSC preparation plan!

CivilsDaily’s FREE Webinar package UPSC 2024

Post-webinar we will share important PDFs, timetable framework, and notes.

Other than this a strategy package will be emailed to you.

What The Hindu opined about Civilsdaily Mentorship

AIR 65, Pranav, IAS (Serving IAS officer, Gujrat)

Karishma Nair, AIR 14 was also Sajal sir’s student

The most important Webinar/Workshop for UPSC Preparation 2024 on Mastering NCERTs for 4 Basic Subjects. Limited entry.

Book your seat (FREE)
May 8, 2023
8th May 23 | Prelims Daily with Previous Year Questions

[WpProQuiz 1353]

[WpProQuiz_toplist 1353]

UPSC 2023 countdown has begun! Get your personal guidance plan now! (Click here)

May 8, 2023
8th May 2023 | Nikaalo Prelims- Mini test 29 (Constitutionalism, Liberty, Rule of Law, Equality and Liberalism)

[WpProQuiz 1357]

[WpProQuiz_toplist 1357]

UPSC 2023 countdown has begun! Get your personal guidance plan now! (Click here)

May 8, 2023
(Urgent) UPSC prelims 2023 Admit Cards released | Direct link to download inside | FREE resources for UPSC Prelims 2023 based on the Past 3-Year Trend Analysis & most Probable Topics for 2023
Dear students finally D-day has come.

UPSC has released admit cards for Civil Services (Preliminary) examination, 2023. The exam is scheduled to be held on 28th May (Sunday) 2023.

Union Public Service Commission activated the UPSC Admit Card 2023 link on May 8, 2023, at upsc.gov.in.

UPSC Prelims 2023 admit card

Table of Content:
For the convenience of applicants who will be taking the prelims exam on May 28th, 2023, the procedures for DOWNLOADING UPSC Hall Ticket 2023 are provided below.

UPSC Hall Ticket 2023 is a mandatory document that you must bring with you along with other important papers.

How to Download UPSC Prelims 2023, Admit Card
1. Visit upsc.gov.in/eadmitcard
2. Fill in your registration Number or DOB
3. Verify Your Admit Card Details
4. Download & Print
FREE Last Time Study Material for UPSC Prelims 2023

1. Smart Study Toolkit for 120+ score by Sajal sir

A game-changing compilation meticulously curated by Sajal sir, Academic Director @ Civilsdaily.

Free Materials in Smart Study Toolkits
- Trend Analysis of the PAST 3 Years Prelims Papers Subjectwise
- Kind & Nature of Questions were asked by UPSC (Based on Basic Books, Conceptual Based, Tikdam Based, and Newspaper Based)
- Dimensions to cover in each subject and each probable sub-topic
- Most probable topics and sub-topics for Prelims 2023 based on PYQs analysis.
Smart study Prelims toolkit prepared by Sajal sir

These concise, laser-focused notes are designed to provide essential information and boost your knowledge just in time for the big exam. Give your preparation the edge it needs by downloading these invaluable Smart Study Toolkit PDFs today!

Click for FREE Smart Study Toolkit

2. Most important topics covered in High Yield Series by Dinesh sir

High Yield Series is a YouTube video lecture series that targets GS static topics, important lists (like national parks, 54 Tiger Reserves, etc), mapping topics, and concepts with the highest probability of appearing in the exam.
Immerse yourself in these strategically designed lectures and conquer the most critical aspects of the UPSC syllabus. Don’t miss the chance to level up your preparation with Dinesh sir’s expertise! Check out the playlist below and get ready to make every minute count.

You can access the PDF of these lectures as well.

Click for MICRO Notes

What The Hindu opined about Civilsdaily Mentorship

AIR 65, Pranav, IAS (Serving IAS officer, Gujrat)

Karishma Nair, AIR 14 was also Sajal sir’s student
May 8, 2023