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26th May Current Affairs

Pandit Deendayal Upadhyay National Welfare Fund For Sportspersons

In News:

The Ministry of Youth Affairs & Sports (MYAS) has approved an amount of Rs 2 Lakh for Karnataka’s V Tejaswini Bai, who won the Arjuna Award in 2011 and was a member of the Women’s Kabaddi team that won gold medals at the 2010 and 2014 Asian Games respectively.

Details:

The financial assistance has been approved from the Pandit Deendayal Upadhyay National Welfare Fund for the Sportspersons (PDUNWFS).

About the Fund:

Set up in March, 1982 with a view to assisting outstanding Sportspersons of yesteryear, living in indigent circumstances who had brought glory to the Country in sports.

The scheme was revised in May, 2016 to provide for lump sum ex-gratia assistance to outstanding Sportspersons of yesteryears.

Provision of pension has been done away with as there is already a Scheme of Pension for Meritorious Sportspersons.

The Fund shall be utilized for the following objectives:

To provide suitable assistance to outstanding sports persons now living in indigent sportspersons.

To provide suitable assistance to outstanding sports persons injured during the period of their training for competitions and also during the competitions, depending on the nature of the injury.

To provide suitable assistance to outstanding sports persons who bring glory to the country in the international field and who are disabled as an after effect of their strenuous training or otherwise and to provide them assistance for medical treatment.

To administrator and apply the funds of the Fund to promote the welfare of the sports persons generally in order to alleviate distress among them and their dependents in indigent circumstances.

To administer and apply the funds of the Fund for active sports persons individually or collectively as a group.

To do all other things which are incidental to the above objectives.

RBI to transfer Rs 99,122 crore surplus to government

In News:

The Reserve Bank of India (RBI) will transfer a surplus of Rs 99,122 crore to the government for the nine-month accounting period ended March 31.

Details:

The bank also decided to maintain the contingency risk buffer at 5.5 percent.

Significance of the move:

The transfer will help the government’s finances as the country battles a furious second coronavirus wave that has seen daily infections and deaths rise to a record level. The restrictions clamped to break the chain of infections have also put a question mark on the country’s economic recovery.

Provisions in this regard:

The RBI, founded in 1934, operates according to the Reserve Bank of India Act of 1934. The act mandates that profits made by the central bank from its operations be sent to the Centre.

As the manager of its finances, every year the RBI also pays a dividend to the government to help with the finances from its surplus or profit.

A technical Committee of the RBI Board headed by Y H Malegam (2013), which reviewed the adequacy of reserves and surplus distribution policy, recommended a higher transfer to the government.

RBI’s Earning:

  • Returns earned on its foreign currency assets, which could be in the form of bonds and treasury bills of other central banks or top-rated securities, and deposits with other central banks.
  • Interest on its holdings of local rupee-denominated government bonds or securities, and while lending to banks for very short tenures, such as overnight.
  • Management commission on handling the borrowings of state governments and the central government.

RBI’s Expenditure:

Printing of currency notes and on staff, besides the commission it gives to banks for undertaking transactions on behalf of the government across the country, and to primary dealers, including banks, for underwriting some of these borrowings.

DRDO’s Covid-19 antibody detection kit

In News:

The Defence Institute of Physiology and Allied Sciences (DIPAS), a laboratory of Defence Research and Development Organisation (DRDO), has developed a Covid-19 antibody detection kit called ‘Dipcovan’.

About Dipcovan:

The Dipcovan kit can detect both spike as well as nucleocapsid (S&N) proteins of SARS-CoV-2 virus with a high sensitivity of 97 % and specificity of 99%.

The kit has a shelf life of 18 months.

It has been developed in association with Vanguard Diagnostics Pvt Ltd.

The antibody detection kit is approved by the Indian Council of Medical Research (ICMR) in April 2021.

Antibody:

Antibody, also called immunoglobulin is a protective protein produced by the immune system in response to the presence of a foreign substance, called an antigen.

Antibodies recognize and attack onto antigens in order to remove them from the body.

Govt vs WhatsApp on privacy policy

In News:

Communication between the IT Ministry and WhatsApp on the issue of the updated privacy policy has been going on since January this year.

Details:

The Ministry has recently warned WhatsApp once again to roll back its latest update in privacy policy. This time, the Ministry has also warned of legal action if it does not get a satisfactory reply by May 25.

Key Features of the Privacy Policy:

Information Sharing with Third Party Services: When users rely on third-party services or other Facebook Company Products that are integrated with our Services, those third-party services may receive information about what you or others share with them.

Hardware Information: WhatsApp collects information from devices such as battery level, signal strength, app version, browser information, mobile network, connection information (including phone number, mobile operator or ISP) among others.

Deleting the Account: If someone only deletes the WhatsApp app from their device without using the in-app delete my account feature, then that user’s information will remain stored with the platform.

Data Storage: WhatsApp mentions that it uses Facebook’s global infrastructure and data centers including those in the United States to store user data. It also states that the data in some cases will be transferred to the United States or other parts where Facebook’s affiliate companies are based.

Location: Even if a user does not use their location-relation features, Whatsapp collects IP addresses and other information like phone number area codes to estimate your general location (city, country).

Payment Services: WhatsApp says that if anyone uses their payments services they will process additional information about you, including payment account and transaction information.

What are the concerns and why is the policy being criticised?

The Ministry has reiterated that the changes to WhatsApp’s privacy policy and the manner of introducing them undermine the sacrosanct values of informational privacy, data security and user choice for Indian users.

  • The new Whatsapp policy contradicts the recommendations of the Srikrishna Committee report, which forms the basis of the Data Protection Bill 2019.
  • The principle of Data Localisation, which aims to put curbs on the transfer of personal data outside the country, may come in conflict with WhatsApp’s new privacy policy.
  • With the updated privacy policy, WhatsApp can now share one’s metadata, essentially everything beyond the conversation’s actual text.
  • If users disagree with the messaging platform’s updated privacy policy, they will have to quit WhatsApp when the new terms of service are set to come into effect.