18 November 2022

DAILY CURRENT AFFAIRS ANALYSIS

1 – Collegium System: GS II – Topic Judiciary related issues

Context:

• Chief Justice of India D.Y. Chandrachud listed a writ petition on Thursday and promised to review the collegium method for choosing judges for the Supreme Court and the High Courts in the future.

The collegium system: what is it?

• In India, judges can only recommend and advance other judges under the “Collegium” system. This approach is also known as “Judges- Selecting- Judges.”
• The system has changed as a result of Supreme Court rulings, not a law enacted by Parliament or a clause in the Constitution.
• The four senior-most Supreme Court judges make up the Collegium, which is presided over by the Chief Justice of India.
• The four seniormost judges on the court plus the Chief Justice of the High Court make up the collegium. Before names are forwarded to the government by a High Court collegium for consideration, the CJI and Supreme Court collegium must first give their approval.
• The recommendation might be resent by the government for the Collegium’s review.
• The government must pick the appropriate candidate if the collegium reiterates its recommendation.

Why was having a collegium system important?

• The technology was put in place to help and enhance the scheduling process.
• The Chief Justice of India’s opinion is formed at the highest level of the court by a number of individuals, not simply him or her.
• Protect the rule of law while preserving the independence of the court, which is crucial to our democratic system.

How does the system of collegiums operate?

 The Chief Justice of India (CJI) is appointed:

• The Chief Justice of India and the other SC judges are chosen by the President of India.
• The outgoing CJI backs his replacement.
• Since the supersession issue of the 1970s, seniority has been the single determining factor in practise.
• In order to appoint more SC Justices, a Collegium made up of the CJI and the four SC judges with the most experience makes recommendations for SC judges.
• The Law Minister receives the nominee from the Collegium and reviews it before sending it on to the Prime Minister, who then advises the President on the appointment’s final decision.
• The president consults the Chief Justice of India and the governor of the relevant state when selecting the Chief Justice of the High Courts.
• The chosen candidate doesn’t live in the chosen state.
• Before the President appoints HC judges, the Governor of the relevant state, the SC Collegium, the CJI, and the four most senior HC judges are also consulted.
• Following consultation with the Chief Justice of India (CJI), the governors of the relevant states, and other SC collegium members, the President appoints judges for the Common High Court.

Source à The Hindu

 2 – NIIF: GS II – Topic Constitutional and Non Constitutional Bodies

Context:

• According to Finance Minister Nirmala Sitharaman, the National Investment and Infrastructure Fund (NIIF) was urged to consider the potential provided by the government’s significant projects, such as the National Infrastructure Corridor, PM GatiShakti, and the National Infrastructure Pipeline, on Thursday.
• Sitharaman noted that the two infrastructure non-banking financial companies in which the NIIF holds majority stakes increased their combined loan book from Rs 4,200 crore to Rs 26,000 crore in just three years without having yet encountered any non-performing loans as she presided over the NIIF’s fifth meeting of the governing council (GC).

Regarding NIIF:

• In order to support greenfield, brownfield, and stalled infrastructure projects that are financially viable, the government launched the 40,000 crore NIIF in 2015.
• The remaining 49% of the corpus is being invested by the Indian government, with the remaining money coming from various investors, including sovereign wealth funds, insurance and pension funds, endowments, and so forth.
• The NIIF’s mandate includes making investments in fields relevant to India’s infrastructure, such as housing, water, transportation, energy, and waste management.
• Three funds under NIIF’s management currently each have a unique investing mandate. The Securities and Exchange Board of India categorises the funds as Alternative Investment Funds (AIF) (SEBI).

Other details:

• Master Fund: This infrastructure fund places a strong emphasis on running assets in key infrastructure sectors like ports, airports, power, and highways.
• The fund of funds is managed by Indian investment managers with a track record in infrastructure and related industries. Green infrastructure, mid-income & affordable housing, infrastructure services, and allied sectors are a few of the focus areas.
• Strategic Investment Fund: Registered with SEBI in India as an Alternative Investment Fund II. Stock investments and equity-linked products are the major focus. Greenfield and brownfield investments in the main infrastructure sectors will be their main area of concentration.

Source The Hindu

3 – Electoral Bonds: GS II – Topic Election-related issues:

Context:

• Since the product’s debut in March 2018, the State Bank of India (SBI) has sold electoral bonds worth 10,246 crore.

What’s the process for election bonds?

• Election bonds can be used to make financial contributions to political parties by anyone.
• The only political parties that are allowed to receive election bonds are those that are recognised under Section 29A of the Representation of the People Act of 1951 and who received at least 1% of the votes cast in the most recent general election for the House of the People or the State’s Legislative Assembly.
• At authorised State Bank of India locations, you can purchase the bonds using a cheque or an electronic payment method. They are offered in multiples of 1,000, 10,000, one lakh, ten lakh, and one crore rupees (cash is not allowed).
• The giver shall afterwards designate the recipient or recipients of the Bond.
• Within 15 days of acquiring them, political parties have the option to redeem these bonds for electoral expenses.
• Only certain times can be used to purchase electoral bonds.
• When and why were election bonds first introduced?
• The amount of cash contributions from unidentified sources that a political party may take was cut by an amendment to the Income Tax (IT) Act from Rs 20,000 to Rs 2,000.

Need of Electoral Bonds:

• Transparency: The main goal of the electoral bonds programme was to increase the level of transparency in Indian election financing.
• Due to the method, a donor’s identity is kept a secret.
• Election bonds allow regular people to contribute money to the political parties of their choice with ease.

Why is criticism of electoral bonds levelled?

• The anonymity of electoral bonds, according to opponents, is solely enjoyed by the general public and rival parties.
• By selling the bonds through a government-owned bank, the government is able to identify the precise source of money for its opponents (SBI).
• Privacy is jeopardised because the bank will be aware of the donor’s identity.
• Unfair advantage: This gives the ruling party the opportunity to extort cash from large corporations or to punish them for refusing to give the ruling party cash, giving the ruling party the upper hand.
• In all, more than 75% of all electoral bonds went to the center-right party.
• Election-related links open a new avenue for the nefarious alliance between corporations and political parties.
• Higher denominations: More than 90% of the bonds issued so far have been of the highest denomination, even though the development of electoral bonds was primarily motivated by the desire to make it simpler for the general population to support the political parties of their choosing (Rs 1 crore).

Source The Hindu

4 – NIA: GS III – Topic Internal Security of India:

Context:

• Director General of NIA Dinkar Gupta claims that India has evidence that terrorism is being funded through social media platforms. He emphasised that the topic would be covered at a two-day international ministerial summit on combating the funding of terrorists.
• Gupta said at a news conference on Friday morning that Pakistan and Afghanistan would not be attending the meeting and that China had not yet confirmed.

About NIA:

• Investigations into any offences that put India’s integrity, security, or sovereignty in jeopardy are the responsibility of the NIA, the country’s main counterterrorism law enforcement organisation. It has friendly relations with a lot of countries.
• Weapons, drugs, fake Indian currency, and border crossing infiltration are routinely used in crimes.
• the breaking of limitations placed by the UN, its agencies, and other international organisations to carry out their agreements, conventions, and resolutions.
• According to the National Investigation Agency (NIA) Act of 2008, it was established.
• A signed instruction from the Ministry of Home Affairs gives the agency the authority to direct the investigation of terrorism-related offences in all states without additional consent from the states.
• Following the devastating 26/11 Mumbai terrorist incident in November 2008, which terrified the entire globe, the United Progressive Alliance administration created the NIA.
• Former Union Home Minister P. Chidambaram sponsored the National Investigation Agency Bill in December 2008.
• The company was established on December 31, 2008, and operations commenced in 2009. The NIA has thus far received reports of 447 instances.
• The statute that governs the agency applies to all Indian citizens, even those who live abroad.
• Anyone can work for the government, no matter where they are.
• Anyone is present onboard ships or aircraft with an Indian registry.
• any person who intentionally violates a global schedule with the aim of harming an Indian or India’s interests.

Source The Hindu