Daily News Analysis Report: 14 November 2024

Guidelines To Curb Illegal Demolitions By Supreme Court of India

The Supreme Court has issued comprehensive guidelines to prevent arbitrary demolitions of private properties, especially in cases where individuals are accused of crimes. This move comes after widespread concerns about illegal demolitions in several states.

Key Guidelines:

• A mandatory 15-day notice must be issued before any demolition.
• Authorities are required to follow due process and provide clear reasons for the demolition.
• Demolitions must be videographed for transparency.
• The right to shelter under Article 21 is emphasized, ensuring that demolitions cannot proceed solely based on accusations.

These guidelines aim to protect citizens’ rights while ensuring that legal procedures are strictly followed6.

Guidelines for Prevention of Misleading Advertisement in Coaching Sector, 2024

The Central Consumer Protection Authority (CCPA) has introduced new guidelines to regulate misleading advertisements in the coaching sector. These rules address false claims regarding course success rates, faculty qualifications, and guaranteed admissions.

Key Highlights:

• Coaching centers must accurately represent their services, including course details and success rates.
• False promises like guaranteed job placements or exam success are prohibited.
• Advertisements must include disclaimers and truthful information about fees and faculty credentials8.

These guidelines aim to protect students from being misled by exaggerated claims often made by coaching institutes.

RBI Releases List of Domestic Systemically Important Banks (D-SIBs)

The Reserve Bank of India (RBI) has retained State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) for 2024. These banks are considered “too big to fail” due to their significant role in the financial system.Key Points:

• D-SIBs must maintain higher capital reserves to safeguard against potential financial crises.
• These banks are required to meet additional Common Equity Tier 1 (CET1) capital requirements9.

The D-SIB classification ensures that these major banks remain stable and capable of withstanding economic shocks.

Bitcoin Hits All-Time High After Trump Win

Bitcoin has reached an all-time high of $90,000 following Donald Trump’s victory in the U.S. presidential election. The cryptocurrency market has seen a surge in investments due to expectations of a more favorable regulatory environment for digital currencies under Trump’s administration.Reasons for the Surge:

• Investors anticipate clearer regulations and greater flexibility for cryptocurrencies.
• The success of spot Bitcoin ETFs has also contributed to this rally10.

While Bitcoin continues to attract investors, experts caution about its volatile nature and potential risks.

Centenary of Bose-Einstein Statistics

India is celebrating the centenary of Bose-Einstein statistics, a groundbreaking contribution by physicist Satyendra Nath Bose that revolutionized quantum mechanics. This milestone is being marked with international conferences and outreach programs aimed at promoting scientific knowledge.Significance:

• Bose-Einstein statistics laid the foundation for modern technologies such as quantum computing and superconductivity.
• The centenary celebrations highlight India’s rich scientific heritage and its contributions to global science12.

This event serves as a reminder of Bose’s lasting impact on physics and his pioneering work alongside Albert Einstein.

Kutumb Prabodhan

The Kutumb Prabodhan initiative emphasizes strengthening family bonds through regular interactions and discussions on cultural values. Launched by the Rashtriya Swayamsevak Sangh (RSS), this project encourages families to spend quality time together without distractions like smartphones or television.Objective:

• Promote family values by encouraging discussions on topics like culture, history, and moral conduct13.

This initiative aims to foster stronger family connections in an increasingly fast-paced world.

SVASTIK Initiative

The SVASTIK (Scientifically Validated Societal Traditional Knowledge) initiative seeks to bridge the gap between traditional knowledge and modern science. Launched by CSIR-NIScPR, this program focuses on validating traditional practices through scientific research.Key Areas:

• Agriculture
• Medicine
• Environmental practices

By scientifically validating these practices, SVASTIK aims to preserve valuable traditional knowledge while promoting sustainable development

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U.S.-India Indian Ocean Dialogue

India and the U.S. are set to hold their inaugural Indian Ocean Dialogue focused on security challenges in the Indo-Pacific region. This dialogue will address regional stability while expanding cooperation on emerging technologies like artificial intelligence and quantum computing

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Concerns Over Compounded Semaglutide

Novo Nordisk has raised concerns over compounded versions of its popular diabetes drug Semaglutide (marketed as Wegovy and Ozempic). The company is pushing for tighter regulations due to safety issues surrounding these compounded versions

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Pradhan Mantri Ujjwala Yojana (PMUY)

As part of its ongoing efforts to provide clean cooking fuel, the government has distributed over 10 crore LPG connections under PMUY. This scheme aims to reduce indoor air pollution by providing free LPG connections to women from poor households3.

National Financial Reporting Authority (NFRA)

The NFRA has approved 40 new audit standards aligned with global norms. These standards aim to improve transparency and accountability in financial reporting across India4.

Uranus

A recent study revealed that Voyager 2 passed through Uranus’ magnetosphere when it was unusually compressed by solar wind during its historic flyby in 1986. This finding provides new insights into Uranus’ unique magnetic field

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Sea Ranching Launched off Vizhinjam Coast

As part of an artificial reef project under Pradhan Mantri Matsya Sampada Yojana (PMMSY), sea ranching was launched off Vizhinjam coast with the release of Pompano fingerlings. This initiative aims at replenishing marine resources while promoting sustainable fishing practices

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Exercise ‘Poorvi Prahar’

The Indian Army is conducting a high-intensity tri-services exercise named ‘Poorvi Prahar’ in Arunachal Pradesh. This exercise focuses on integrated joint operations across challenging mountainous terrain using advanced technologies like swarm drones and loitering munitions

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Operation Kawach

Delhi Police have intensified their crackdown on drug trafficking under Operation Kawach, leading to multiple arrests across the city. This operation aims at curbing drug-related crimes while enhancing public safety

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Booker Prize 2024

British author Samantha Harvey won the Booker Prize 2024 for her novel Orbital, which explores life aboard the International Space Station during a single day. The novel reflects on themes of isolation, human connection, and our relationship with Earth from space