Prelims Precise March 2023 PDF

 INDEX History & Culture_______________________________ 1 55. Doha Political Declaration_______________________15 1. Vaikom Satyagraha_____________________________ 1 56. Colombo Security Conclave (CS...

 INDEX History & Culture_______________________________ 1 55. Doha Political Declaration_______________________15 1. Vaikom Satyagraha_____________________________ 1 56. Colombo Security Conclave (CSC)_________________15 2. Kattunayakan Tribe____________________________ 1 57. Black Sea Grain Initiative________________________15 3. Ancient City of Sisupalgarh______________________ 1 58. International Telecommunication Union (ITU)_______16 4. Harichand Thakur_____________________________ 2 59. United Nations 2023 Water Conference____________16 5. Vedic Heritage Portal___________________________ 2 6. Bumchu Festival_______________________________ 2 60. International Monetary Fund____________________16 7. Shyamji Krishna Varma (1857-1930)_______________ 2 61. Vienna Convention on Road Signs and Signals treaty__17 8. 13th Century Hindu Temple______________________ 3 62. Summit for Democracy_________________________17 9. Navroz______________________________________ 3 63. The Five Eyes_________________________________17 10. Sattriya dance________________________________ 3 64. UNCLOS, 1982________________________________17 Polity & Governance____________________________ 4 65. Windsor Framework___________________________18 11. Chief Election Commissioner and Election 66. Indo-Pacific Economic Framework_________________18 Commissioners_______________________________ 4 12. Swachh Sujal Shakti Samman 2023________________ 4 67. AUKUS Alliance_______________________________19 13. Right to Repair________________________________ 4 Environment & Ecology_________________________ 19 14. Punchhi Commission Report_____________________ 4 15. Swachhotsav 2023_____________________________ 5 68. Global Greenhouse Gas Monitoring Infrastructure____19 16. New India Literacy Programme (NILP)______________ 5 69. Aravali Green Wall Project_______________________19 17. Sealed-Cover Jurisprudence_____________________ 5 70. Gramin Krishi Mausam Sewa Project_______________20 18. Affinity Test__________________________________ 5 71. Sand Battery_________________________________20 19. News Broadcasting and Digital Standards Authority (NBDSA)_____________________________________ 6 72. Laccase Enzyme_______________________________20 20. Electoral Bonds_______________________________ 6 73. Mission Sahbhagita____________________________20 21. Creation of New Districts________________________ 6 74. Project Green Sand____________________________20 22. Right against Self Incrimination___________________ 6 75. Heat Index___________________________________21 23. Unique Land Parcel Identification Scheme (ULPIN)____ 7 24. Guilt By Association doctrine_____________________ 7 76. Global Millets (Shree Anna) Conference____________21 25. Bar Council of India (BCI)________________________ 7 77. SHESHA & Rapid composting Technology___________21 26. Grievance Appellate Committee (GAC), 2021________ 7 78. Bamboo Crash barrier__________________________21 27. Bail_________________________________________ 8 79. Plastic Rocks__________________________________22 Economy______________________________________ 8 80. Forest Certification____________________________22 28. Primary Agricultural Credit Societies (PACS)_________ 8 81. Green and Self-Powered Desalination Plant_________22 29. PM MITRA Parks______________________________ 8 30. Pradhan Mantri Awas Yojana-Urban (PMAY-U)_______ 9 Geography___________________________________ 23 31. Green Tug Transition Programme (GTTP)___________ 9 82. Landslides Atlas of India________________________23 32. Letter of Comfort______________________________ 9 83. Cyclone Freddy_______________________________23 33. Fugitive Economic Offenders (FEO) Act, 2018________ 9 34. Comprehensive Rubber Information System Platform 84. Zeelandia____________________________________23 (CRISP)______________________________________10 85. South Atlantic Anomaly (SAA)____________________23 35. SWAMIH Investment Fund_______________________10 Science & Technology___________________________ 24 36. Infrastructure Finance Company (IFC)______________10 37. VAIBHAV Fellowship Scheme_____________________10 86. One World TB Summit__________________________24 38. Start-ups, Women, and Youth Advantage Through 87. Bauxite Reference Materials_____________________24 e-Transactions (SWAYATT)_______________________10 88. PALM 400____________________________________24 39. MSME Competitive (LEAN) Scheme_______________11 40. Domestic Systemically Important Banks (D-SIBs)______11 89. MAIA Mission_________________________________24 41. Advance Authorization Scheme (AAS)______________11 90. E0S-06 Satellite_______________________________25 42. Green Shoe Option____________________________11 91. Lewis Super Acids_____________________________25 43. Operation Trishul______________________________12 92. Organoid and Organoid Intelligence_______________25 44. Bank Run____________________________________12 45. Securities Transaction Tax (STT)___________________12 93. PUShP portal_________________________________26 46. Financial Intelligence Unit – India (FIU-IND)_________12 94. ATL Sarthi____________________________________26 47. TReDS platform_______________________________12 95. Sagar Manthan_______________________________26 48. Har Payment Digital Mission_____________________13 49. Environment, Social and Governance (ESG)_________13 Miscellaneous_________________________________ 27 50. Surety Bonds_________________________________13 96. India-WRIS___________________________________27 51. Liberalised Remittance Scheme (LRS)______________13 97. REACHOUT scheme____________________________27 52. Hall Mark Unique Identification Number (HUID)______14 53. Chinese Wall Policy____________________________14 98. Vayulink_____________________________________27 54. DigiClaim____________________________________14 99. O-SMART scheme_____________________________27 International Relations_________________________ 15 100. C-Veda project________________________________28 FORTUNE IAS Toppers in Top 100  History & Culture Vaikom Satyagraha Kattunayakan is one of the 75 Particularly Vulnerable Tribal Groups (PVTGs), living mainly in the Nilgiris and surrounding » Kerala and Tamil Nadu Chief Ministers jointly regions. inaugurated the centenary year celebrations of the Vaikom Satyagraha. They are also known as Jenu Kurumbas and Thenu Kurumbas because of their expertise Vaikom Satyagraha at the princely state of in honey collection. Travancore, lasted for 604 days from March 30, 1924 to November 23, 1925 marked the They are designated Scheduled Tribes in dawn of the temple entry movement across Tamil Nadu, Kerala, Karnataka and Andhra India. Pradesh. Background They speak a language which is a mixture of all Dravidian languages. The people of the oppressed classes, especially the Ezhavas were prohibited from Ancient City of Sisupalgarh walking on the roads surrounding the Vaikom Mahadeva Temple. It was started under the leadership of T.K. » Land mafias Madhavan, K. Kelappan, and K.P. Kesava have damaged Menon. Subsequently it was taken up by a portion of the Congress Untouchability Committee the wall of the formed by the Kerala Pradesh Congress 2700-year Committee in January 1924. old fortified ancient city The Satyagraha and aftermath of Sisupalgarh, Odisha. On every day of protest, three volunteers Sisupalgarh, believed to have been built around from three different communities were the 7th to 6th century BCE, served as the sent to walk on the prohibited roads and capital of the Kalinga kingdom and was an were arrested. important centre of trade and commerce during ancient times. National leaders such as Periyar, C Rajagopalachari and Mahatma Gandhi This is the only fortified site in came to Vaikom to offer support and lead India having 8 gateways. Shola protestors. Khamba, a constellation of 16 monolithic (now 13) pillars is still Finally, three of the four roads were visibile. thrown open to all castes and Satyagraha was withdrawn. It was declared a Centrally Protected Monument in 1948 under the provisions of the In November 1936, the historic Temple Ancient Monuments Preservation Act 1904. Entry Proclamation was signed by the Maharaja of Travancore. The urban centre had an area of 1.2 sq.km and it was surrounded by a moat. Kattunayakan Tribe It has a unique water management system and the fortification was carried out when king Kharavela (Mahameghavahana or » The “Elephant Whisperers”, which won the Chedi dynasty) took up the repair of the city Oscar for the best documentary, depicts the 2100 years ago. conservation legacy of the Kattunayakan tribe of the Western Ghats. Sisupalgarh is said to be one of very few historical references of the present capital city of Bhubaneswar. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 1  Harichand Thakur Bumchu Festival » Matua Dharma Maha Mela was recently » The Bumchu festival was recently held in organised to celebrate the 212th birth Sikkim. anniversary of Shri Shri Harichand Thakur - the founder of the Matua religious sect. The festival is celebrated at Tashiding Monastery, Sikkim on the 15th day of the first Matua is a sect of Vaishnavite Scheduled month of the Lunar calendar corresponding castes in Bengal. to the month of February/March. Harichand Thakur was born on 30th March It commemorates a supernatural occurrence 1812 in Orakandi in Bangladesh in a peasant that took place in the 18th century under farmer family. Chogyal (King) Chakdor Namgyal. Bumchu means “pot of sacred water” in Tibetan. The celebration is founded on the idea that the amount of water in a sacred pot stored on the main altar of the monastery foretells what will happen to the area in the following year. If the water level is higher or lower then it signifies ill fortune such as droughts, diseases and natural calamities. The vase is opened during the event, and the The Matua Mahasangha, a religious anti- water inside is shared among the worshippers. caste reform movement and a sect was formed by him in East Bengal in the mid-1800s. Harichand Thakur devoted his life to the Shyamji Krishna Varma betterment of the oppressed, downtrodden (1857-1930) and deprived people in undivided Bengal during the pre-independence era. » Prime Minister, Shri The Matua Community constitutes the 2nd Narendra Modi paid largest Scheduled Caste population (3 crore) homage to Shri of West Bengal. Shyamji Krishna Varma on his Punya Tithi (Death Anniversary). Vedic Heritage Portal Shyamji Krishna Varma, a staunch nationalist and Indian revolutionary, played a key role in the Indian The Vedic Heritage Portal of the Indira freedom struggle. Gandhi National Centre for the Arts (IGNCA) was recently launched. In 1905, he founded the Indian Home Rule Society, India House and The Indian IGNCA is an autonomous institute under the Sociologist (monthly publication) in London. Ministry of Culture. India house, provided a platform for Indian The portal aims to map the Vedic heritage of students to voice their opposition to British the country and to preserve and promote the rule tradition of ‘Vedic chanting’ (part of the List of UNESCO Intangible Cultural Heritages in He became the first President of Bombay India). Arya Samaj, and was an admirer of Dayanand Saraswati. He was the first non-Brahmin to It gives detailed information about oral receive the title of Pandit. traditions and textual tradition in the form of published books/manuscripts. 2 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  13th Century Hindu Temple Sattriya dance » Recently, a 13th-century Hindu temple was » Assam’s decorated Sattriya mask maker from discovered at Pushpagiri Kshetram in the Majuli, Hem Chandra Goswami was awarded Kadapa district of Andhra Pradesh. Padma Shri for art and craft in 2023. The architectural features of the ruins were About Sattriya dance similar to that of a temple built by the Kayastha rulers at Vallur. Sattriya originated in Sattras, as part of the neo-vaishnavite movement in the 15th The Kayasthas (1239 AD - 1297 AD) were century by Srimanta Sankardev. subordinates to the rulers of the Kakatiya dynasty. Pushpagiri Kshetram: Pushpagiri is also called as Hari- Hara Kshetra and there exist many temples which are dedicated to both Shiva and Vishnu. It is located on the banks of the Pennar river. Pushpagiri is often considered as the second Hampi because of its beautiful architecture. Navroz Sattriya was given the status of classical Navroz is an Iranian and Persian New year. dance in 2000 by the Sangeet Natak The word ‘nav’ means ‘new’ and roz means ‘day’. Akademi. It is celebrated on 21st March every year. Sattriya dances differ from other dance The festival is named after the Persian king, forms in its basic stance. For males it is Jamshed, who created the Persian or the known as Purush Pak while for females, Shahenshahi calendar. Prakriti Pak. The dance is based on Vishnu mythological themes. It also marks the beginning of the spring season and is celebrated with great fervour by They have special mnemonic bols, typical members of the Parsi community across the Assamese music known as Borgeet, musical globe. instruments like large cymbals, drums, colourful costumes are used. It is inscribed in the list of UNESCO Intangible Cultural Heritage of Humanity of India. Besides having complicated choreographic patterns, vocalists use various talas for each In India it is known as Jamshed Navroz. of the stanzas sung. The dance is a combination of other Assamese dances like Ojapali and devadasi. Nritta, Nirtya and natya are different forms of Sattriyas dance. Regulated hand gestures and footworks play a significant role in the performance. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 3  Right to Repair Polity & Governance » The Union Government has scaled up its Right to Repair initiative to cover four sectors. Chief Election Commissioner and The sectors identified for the right to repair Election Commissioners include: farming equipment, mobile phones/ tablets, consumer durables and automobile equipment. » A five-judge Constitution Bench of the Supreme Court unanimously ruled that a high- Right to repair refers to government power committee must elect the Election legislation that is intended to allow Commissioners rather than the present set- consumers the ability to repair and modify up. their own consumer electronic devices, where otherwise the manufacturer of such The committee will consist of the Prime devices require the consumer to use only their Minister, Leader of Opposition in Lok Sabha offered services. and the Chief Justice of India. The idea originally originated from the USA, Presently, the President makes the where the Motor Vehicle Owners’ Right to appointment of CEC and ECs on the advice Repair Act 2012 required the manufacturers of the Union Council of Ministers headed by to provide the necessary documents and the Prime Minister under Article 324. information to allow anyone to repair their vehicles. The constitution does not lay down a specific legislative process and qualifications for the The right to repair has been recognized in appointment. many countries including the USA and UK. ECs hold office for a term of six years or until they attain the age of 65 years, whichever is earlier. Punchhi Commission Report The official status, salary and perks of CEC is equivalent to that of the Supreme Court » The Union Ministry of Home Affairs (MHA) Judge. has decided to start the process of seeking the The Chief Election Commissioner is provided states’ comments on Punchhi commission’s with the security of tenure and can be centre-state relations report. removed only on the same grounds as a The Commission on Centre-State Relations judge of the Supreme Court. under the chairmanship of Justice Madan Mohan Punchhi, former Chief Justice of India was constituted in 2007 to look into the new Swachh Sujal Shakti Samman 2023 issues of Centre-State relations. Key recommendations of the commission: » Recently, the Ministry of Jal Shakti organised an event named ‘Swachh Sujal Shakti The creation of a superseding structure Samman 2023’. known as the ‘National Integration Council’ for matters relating to internal Swachh Sujal Shakti Samman 2023 event was security. organised by the Union Ministry of Jal Shakti to honour the women champions of the Consulting the states through the inter- rural water and sanitation sector. state council before introducing bills on matters falling under the concurrent list. The major objective is to felicitate women who have done exemplary work at the grassroots Appointment and removal of Governors: level in the implementation of Swachh Bharat State’s Chief Minister should be consulted Mission – Grameen (SBM-G), Jal Jeevan while appointing the Governor and a Mission (JJM), Jal Shakti Abhiyan. provision should be there for the Governor’s impeachment by the State Legislature. 36 women WASH (Water, Sanitation and Hygiene) Champions were conferred with the ‘Swachh Sujal Shakti Samman 2023’. 4 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  Swachhotsav 2023 Sealed-Cover Jurisprudence » ‘Swachhotsav - 2023’ was organised by the » The Supreme Court declined a sealed Ministry of Housing and Urban Affairs as a cover note submitted by the Centre in the part of India’s celebration of the International case of disbursal of arrears to retired defence Day of Zero Waste 2023 on 30th March. personnel under the One Rank One Pension (OROP) scheme. Swachhotsav is a government initiative to promote cleanliness and hygiene in India Sealed Cover Jurisprudence is a practice launched in 2019. followed by the Supreme Court and sometimes lower courts to seek and accept The initiative involves school children, youth, information from government agencies in and technology to make the cleanliness drive sealed envelopes that can only be examined more efficient. by judges. Its goal is to make 1000 cities 3-Star Garbage The purpose of sealed cover jurisprudence Free by October 2024 and create a cleaner is to balance the need for transparency in and healthier India. court proceedings with the need to protect sensitive information from public disclosure. New India Literacy Programme There is no specific law that defines the doctrine of sealed cover. The Supreme Court (NILP) derives its power to use it from Rule 7 of order XIII of the Supreme Court Rules and Section » Government has launched New India LIteracy 123 of the Indian Evidence Act of 1872. Programme (NILP) for implementation during The court accepts information in a sealed cover five years from 2022-23 to 2026-27. in two cases- NILP is a Centrally Sponsored Scheme that 1. When the information is related to an aims to cover a target of 5 crore non-literates. ongoing investigation which could be All the non-literate above 15 years of age can impeded by disclosure. avail the benefits of the scheme. 2. When the information is personal or confidential in nature and could affect an Foundational Vocational Skills individual’s privacy. Literacy and Development Numeracy Basic The scheme Education Affinity Test has 5 Critical components » The Supreme Court in a judgement held that Life Skills an affinity test cannot be the litmus test to decide a caste claim. Continuing Education The Affinity Test is used to relate a person to a tribe. It is used to ascertain if the person follows the traditional cultural traits of the The beneficiaries under the scheme are community. identified through door to door surveys on mobile apps by the surveyors in the States/ An affinity test mandates the study and UTs. preparation of a report by authorities on caste/tribe claims based on the peculiar The scheme will be implemented anthropological and ethnological traits, predominantly through online mode using deities, rituals, customs, mode of marriage, volunteerism. The teaching and learning death ceremonies, methods of burial of materials are available on the DIKSHA dead bodies, etc, of the particular caste or platform of NCERT. tribe. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 5  News Broadcasting and Digital Creation of New Districts Standards Authority (NBDSA) » The News Broadcasting and Digital » The Chief Minister of Rajasthan announced the Standards Authority (NBDSA) has instructed creation of 19 new districts and 3 new divisions some news channels to remove their online ahead of assembly elections. platforms videos programmes after it found them to be in violation of the Code of Ethics The State governments are entrusted with and Broadcasting Standards and Specific the power to create new districts or alter or Guidelines. abolish existing districts. The News Broadcasting and Digital Standards This can be done through 2 ways: Authority (NBDSA) is an independent body set up by the News Broadcasters and Digital An executive order. Association (NBDA). By passing a law in the State Assembly. It is a self-regulatory agency which serves as Majority of states prefer the executive route a representative of private television news and issuing a notification in the official and digital broadcasters. gazette. Composition: A chairperson who is to be an The Central government has no role to eminent jurist and members nominated by create new districts or alter or abolish the Board of Directors. existing districts. It aims to protect media agencies from However,the central government does play carrying out unfair and/or unethical a role when the state wants to change the practices or discredit television news name of a district or railway station. broadcasters. The state government will have to send requests to several central government Electoral Bonds departments like the Ministry of Home Affairs, the Railway Ministry, the Ministry of Earth Sciences, the Intelligence Bureau, the » Electoral bonds is a financial instrument which Department of Posts and the Geographical can be bought by companies and individuals Survey Of India, seeking clearance. whose identities are kept anonymous and donated to a political party, which can then encash these bonds. Right against Self Incrimination Introduced by the Government of India in 2018 and these bonds are sold in multiples of Rs. » SC had rejected Delhi Deputy Chief Minister’s 1000, Rs.10000, Rs.1 lakh, Rs.10 lakh and Rs. arguments that he had right against self 1 crore. incrimination. State Bank of India (SBI) is the only bank Article 20(3) in Part III (Fundamental Rights) authorised to issue and encash electoral bonds. of the Indian Constitution says, “No person Only registered political parties that meet accused of any offence shall be compelled certain criteria are eligible to receive electoral to be a witness against himself”. bonds: The right to be presumed innocent until 1. The political party must be registered under proven guilty, and the right to remain silent Section 29A of the Representation of in an interrogation essentially flow from this People Act 1951. constitutionally guaranteed right against self- incrimination. 2. The party must have secured at least 1% of the votes polled in the most recent Lok This right also ensures that police cannot Sabha or State Assembly election. coerce anyone to confess to a crime, and obtain a conviction based on that confession. The electoral bonds are valid for 15 calendar days from the date of issue. Right against self incrimination originated in the Roman law and has evolved as a distinct right in the English Jurisprudence. 6 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  Unique Land Parcel Identification Bar Council of India (BCI) Scheme (ULPIN) » ‘Bhumi Samvaad – IV: National Conference » Recently, the Bar Council of India has notified on Digitizing and Geo-referencing India with Rules for Registration and Regulation of Bhu-Aadhaar (ULPIN)’ was held. Foreign Lawyers and Foreign Law Firms in India, 2022. Bhu-Aadhaar or ULPIN is a “14-digit alpha- numeric number generated based on the latitude and longitude coordinates based The rules state that foreign lawyers and on surveys”. law firms shall be allowed to practice corporate work (Non-Litigious Practice) ULPIN/ BHU Aadhar has been launched in all such as joint ventures, mergers and 26 states and UTs. India aims to digitise 100% acquisitions, Intellectual Property matters land records by 2024. etc. It is being implemented by the Department of Land Resources (Ministry of Rural It is a statutory body established under the Development) and will be the world’s largest Advocates Act of 1961. database on land ownership. BCI regulates and prescribes standards for ULPIN is part of the Digital India Land professional conduct and etiquette and Records Modernisation Programme exercises disciplinary jurisdiction over the (DILRMP), a 100% centrally funded scheme. bar. It was earlier known as the National Land Record Modernisation Programme and was Each Bar Council shall have a Chairman and approved by the cabinet in 2008. It was later Vice-Chairman elected by the Council in the revamped as DILRMP and implemented as a manner prescribed by law. central sector scheme in 2016. The Attorney General of India and the Solicitor General of India who are ex officio members. Guilt By Association doctrine It conducts the All India Bar Examination (AIBE) to grant a ‘Certificate of Practice’ to » The Supreme Court restored the doctrine advocates for practising law in India. of “guilt by association” in criminal jurisprudence in India. Grievance Appellate Committee Guilt by association, also known as the (GAC), 2021 association fallacy, is a guilt ascribed to someone not because of any evidence, » Ministry of Electronics and Information but because of their association with an Technology (MEITY) launched the Grievance offender. Appellate Committee (GAC) that will look into Under this doctrine, people can be held social media users’ concerns regarding content accountable for the actions of their and other issues. connections, even if they themselves had not It is established under Information broken the law. Technology (Intermediary Guidelines and SC declared that mere membership of a Digital Media Ethics Code) Rules, 2021 (“IT banned organisation will be a crime under the Rules 2021”). country’s anti-terror law - Unlawful Activities Users will have the option to appeal against (Prevention) Act (UAPA), 1967. decision of the grievance officer of the Under Section 10(a)(i), of UAPA, continued social media intermediaries and other online membership of a banned organisation is a intermediaries. crime punishable with a jail term up to two The 3 member Committee will endeavour to years. address the user’s appeal within a stipulated period of 30 days. It is a virtual digital platform that will operate only online. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 7  Bail Economy » Recently, the Karnataka Lokayukta filed a petition challenging a Karnataka High Court order granting pre-arrest bail to a MLA. Primary Agricultural Bail is the temporary release of an Credit Societies (PACS) accused person from police custody with the promise that they will appear at trial. » The Cabinet cleared a plan for setting up 2 lakh Primary Agricultural Credit Societies (PACS), Types of bail in India dairy, and fisheries cooperatives in the country in the next five years. Regular bail PACS are village level cooperative credit societies that serve as the last link in a three- tier cooperative credit structure headed by It is generally granted to a person the State Cooperative Banks (SCB) at the who has been arrested or is in State level. police custody. A bail application can be filed for the regular bail Credits from the SCBs are transferred to the under the Code of Criminal District Central Cooperative Banks (DCCBs) Procedure, (CrPC) 1973. at the district level and the DCCBs work with PACS which deal directly with farmers. Individual farmers are members of the PACS, Interim bail and the office-bearers are elected from within them. This type of bail is granted for a short period of time and it PACS are involved in short term lending or is granted before the hearing what is known as crop loan. for the grant of regular bail or A report published by the RBI put the number of anticipatory bail. PACS at 1.02 lakh. PM MITRA Parks Anticipatory bail » The Ministry of Textiles announced the It is granted under section 438 of sites for setting up 7 Pradhan Mantri Mega CrPC either by session court or a Integrated Textile Regions and Apparel (PM High Court. An application for the bail MITRA) Parks for the textile industry. can be filed by the person who thinks that he/she may be arrested by the PM MITRA park will help in creating world class police for a non- bailable offence. industrial infrastructure for textiles. A Special Purpose Vehicle (SPV) owned by the Central and State government will be set up for each park in Public Private Partnership The court can cancel the bail granted by it, but (PPP) mode. the court does not have the power to cancel the bail granted by the police officer. PM MITRA Parks is envisaged to help India in achieving the United Nations Sustainable Development Goal 9 (“Build resilient infrastructure, promote sustainable industrialization and foster innovation”). The PM MITRA scheme was announced in Union Budget for 2021-22. 8 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  Pradhan Mantri Awas Letter of Comfort Yojana-Urban (PMAY-U) » The Parliamentary Standing Committee on » The Finance Ministry recently asked central Housing and Urban Affairs has raised concerns public sector undertakings to issue letters that some people could not avail of the benefits of comfort (LoCs) based on their own financial of the Pradhan Mantri Awas Yojana-Urban strength. (PMAY-U). A letter of comfort is a financial document The Pradhan Mantri Awas Yojana-Urban which indicates a willingness of a third party to (PMAY-U) is a flagship mission of Government meet its financial obligations of the borrowing of India launched in 2015 and being party. implemented by the Ministry of Housing and Urban Affairs (MoHUA). They are usually issued by a third party or a stakeholder in the transaction. The scheme covers the entire urban area of the country, i.e., all statutory towns as per For instance, a holding company can give an LoC Census 2011 and towns notified subsequently, on behalf of its subsidiary, or a government can including Notified Planning/ Development issue a letter of comfort for PSUs. Areas. It is considered a quasi bank guarantee The mission addresses urban housing instrument. shortage among the Economic Weaker Section It is not legally binding and does not imply that (EWS)/ Low Income Group (LIG) and Middle the parent company guarantees repayment Income Group (MIG) categories including slum of the loan being sought by the subsidiary dwellers by ensuring a pucca house to all company. eligible urban households. It is just an assurance to the lender that the To achieve the target of Housing for All, the holding company is aware of the transaction, scheme has been extended until December the policies of the subsidiary and its intentions 2024. in seeking a loan. This provides some comfort to the financial institution to lend money. Green Tug Transition Programme It can also be issued by banks, NBFCs, and (GTTP) auditors. Note: A letter of guarantee on the other » India launched Green Tug Transition hand is legally binding document. Programme (GTTP) aiming to become a global hub for green ship building by 2030. Fugitive Economic Offenders It was announced by the Union Ministry of (FEO) Act, 2018 Ports, Shipping & Waterways. The GTTP » India called upon G20 Nations to adopt a will start multilateral action plan for faster extradition with Green of Fugitive Economic Offenders (FEO) and Hybrid recovery of assets both on the domestic front Tugs (a and abroad. small and powerful GOI enacted FEO Act 2018, to crackdown on boat for towing large boats and ships) powered high-value economic frauds. by green hybrid propulsion systems and subsequently adopting non-fossil fuel It defines offenders as who solutions like methanol, ammonia and ◊ Has left India to avoid criminal prosecution. hydrogen. ◊ Being abroad refuses to return to india in The target is to have the initial Green Tugs order to avoid criminal prosecution working in all major ports by 2025, and 50% of all tugs converted into green tugs by 2030. ◊ An arrest warrant has been issued against him for any specified offenses where the value involved is over 100 crores. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 9  Comprehensive Rubber Information Infrastructure Finance Company System Platform (CRISP) (IFC) » The Rubber Board has launched a mobile » The RBI has granted an Infrastructure Finance app “CRISP” to inform growers about rubber Company (IFC) status to Indian Renewable cultivation and provides solutions online. Energy Development Agency (IREDA). Rubber Board is a statutory body constituted IREDA is a Mini Ratna NBFC (Non-Banking under the Rubber Act, 1947 under the aegis of Financial Company) under the administrative Ministry of Commerce and Industry for the control of the Ministry of New and Renewable overall development of the rubber industry in Energy. It primarily engages in extending the country. financial assistance for setting up new and renewable energy (NRE) projects. Comprehensive Rubber Information System Platform (CRISP) has been developed by the With the IFC status, IREDA will now be able to Rubber Research Institute of India (RRII) in take higher exposure, meaning more lending, collaboration with the Digital University of of a minimum of 75% of its total assets in Kerala. NRE financing. Earlier it was classified as an Investment Credit Company (ICC) with a The app will provide the farmers with 60% limit. recommendations of RRII on production and productivity enhancement, reduction of cultivation cost, maintenance of soil fertility, VAIBHAV Fellowship Scheme disease control measures, etc. Many of these recommendations are location specific and can be linked to geo-information » On the occasion of the National Science systems and delivered directly to the farmers. Day (Feb 28), the Ministry of Science and Technology launched the VAIBHAV Fellowship Scheme for the Indian diaspora abroad. SWAMIH Investment Fund The fellowship offers Non Resident Indian (NRI) researchers an opportunity to work for a minimum of one month to a maximum of » The Special Window for Affordable and Mid- two months a year with a research institution Income Housing (SWAMIH) Investment Fund or an academic institution in India. has completed 20,557 homes since its inception in 2019. The duration of the fellowship is 3 years with the government offering the researchers an The Special Window for Affordable and Mid- amount of up to 37 lakh for the entire period. Income Housing (SWAMIH) Investment Fund is specifically formed for completing stressed Researchers from institutions featuring in the and stalled (brownfield) residential projects. top 500 QS World University Rankings will be eligible for the fellowship. It is sponsored by the Ministry of Finance and managed by SBICAP Ventures Ltd., a State Bank Group company. Start-ups, Women, and Youth Advantage Through e-Transactions The fund has been set up as a Category-II (SWAYATT) Alternative Investment Fund registered with SEBI. » The Government e-Marketplace (GeM) Funding is provided to the projects that are recently commemorated the success of “Start- stalled for lack of adequate funds, projects ups, Women, and Youth Advantage Through under Affordable and Middle Income Housing, e-Transactions” (SWAYATT). Real Estate Regulatory Authority (RERA) registered projects, etc. Start-ups, Women, and Youth Advantage Through e-Transactions” (SWAYATT) on Government e-Marketplace was launched in 2019 by the Ministry of Commerce and Industry. 10 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  It aims to create an open and socially Advance Authorization Scheme intrusive marketplace specifically for Women (AAS) Entrepreneurs, Self-Help Groups [SHGs], Youths and Startups. » Recently, the Director General of Foreign Government e-Marketplace(GeM) is an Trade (DGFT) further simplified the process online market platform set up in 2016, to of Composition Fee for Export Obligation facilitate procurement of goods and services Extension under the Advance Authorization by the government ministries, departments, Scheme. public sector undertakings (PSU) etc. AAS scheme exempts the payment of import duties by Indian exporters on raw materials/ inputs required for manufacturing products for MSME Competitive (LEAN) Scheme export. It is to boost Indian exports. The scheme is implemented by DGFT, under » The Ministry of Micro, Small and Medium the Ministry of Commerce and Industry, Enterprises recently launched the MSME and has a validity of 12 months from the Competitive (LEAN) scheme. date of authorization (called Advance Authorisation). It aims to provide India’s MSMEs a road map to global competitiveness and to reduce If the exporter is unable to timely export the wastage, increase quality, productivity, and product and wants to extend the authorisation performance. time line, they can avail of Export Obligation Extension provision under AAS. National Productivity Council (NPC) is the nodal agency of this scheme. Exporters will have to pay a Composition Fee as penalty. Simplification in calculation of fee is Under the scheme MSMEs will implement bound to aid computerisation of the process as LEAN manufacturing tools like 5S, Kaizen, well as Ease of doing business. KANBAN, Poka Yoka etc. The government will contribute 90% of the implementation cost for hand holding and Green Shoe Option consultancy fees. There will be an additional contribution of 5% for the MSMEs which are part of SFURTI » The Finance Ministry recently decided to clusters, owned by Women/SC/ST and exercise the green shoe option on the offer- located in the Northeast region. for-sale of Hindustan Aeronautics Ltd (HAL). Domestic Systemically Offer for Sale is a simpler method wherein promoters in public companies can sell their Important Banks (D-SIBs) shares and reduce their holdings in a transparent manner through the bidding platform » The Financial Stability Board (FSB), in consultation with the Basel Committee on A greenshoe option is an over-allotment Banking Supervision (BCBS) and national option. authorities, has identified Global Systemically Important Banks (G-SIBs) since 2011. In an initial public offering (IPO), Green Shoe Option is a provision in an underwriting The Reserve Bank of India (RBI) identified agreement that grants the underwriter the Indian banks that are important to the right to sell investors more shares than country’s financial system and designated initially planned by the issuer. them as D-SIBs, that its failure could cause significant disruption. It is generally done when the demand for the share is higher than expected. These banks are often considered as banks that are ‘Too Big To Fail (TBTF)’ because of their size, activities, complexity etc. RBI has classified SBI, ICICI Bank and HDFC Bank as D-SIBs in India. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 11  Operation Trishul It is governed by the Securities Transaction Tax Act (STT Act). Securities such as shares, debentures, » Under Operation Trishul, the Central Bureau of bonds, mutual funds, government equity Investigation (CBI) has extradited 33 people securities, and derivatives are all included. hiding in other countries, involved in various criminal activities. Operation Trishul involves the Central Financial Intelligence Unit Bureau of Investigation, India’s nodal agency – India (FIU-IND) coordinating with the Interpol to bring back fugitives hiding abroad. » Recently the Finance Ministry notified that It also aims at dismantling support networks Indian crypto exchanges will have to report and generating criminal intelligence on shell suspicious activity to the FIU-IND. companies, fraudulent transactions and money mules It is an independent body established by the Government of India in 2004. The operation involves using the Interpol’s Star Global Focal Point Network, and using It serves as a specialised agency focused on the Interpol’s channels to identify dispersal of combating money laundering, terrorist proceeds of crime by financial criminals. financing, and other financial crimes. Its primary objective is to coordinate national Bank Run and international efforts in pursuing global initiatives against money laundering and terrorism financing. » The US witnessed the second largest bank FIU-IND operates under the oversight and failure and the biggest since the 2008 crisis direction of the Economic Intelligence Council as Silicon Valley Bank (SVB) collapsed. SVB was (EIC), headed by the Finance Minister of India. specialised in the tech start-up industry. The US Federal Reserve’s recent decision to raise interest rates indirectly led to the shut Trade Receivables Discounting down. The inflation had impacted start-ups in Silicon Valley which led to a bank run. System (TReDS) platform A bank run refers to a situation where a large number of depositors simultaneously » TReDS is a digital platform that facilitates the withdraw their funds from a bank based on financing of trade receivables of micro, small fears that the institution will become insolvent. and medium enterprises (MSMEs) from corporate buyers through multiple financiers. With more people withdrawing money, banks will use up their cash reserves and ultimately Trade receivables are defined as the amount end up defaulting. owed to a business by its customers following the sale of goods or services on credit. Securities Transaction Tax (STT) Only MSMEs can participate as sellers in TReDS and corporates, government departments, PSUs, and any other entity can » The government recently hiked the securities participate as buyers in TReDS. transaction tax (STT) by 23.52% on the sale of options and 25% on the sale of futures Banks, NBFC - Factors, and other financial contracts. institutions, as permitted by the RBI, can participate as financiers in TReDS. It is a direct tax charged on the purchase and sale of securities listed on the recognized TReDS is a payment system authorised under stock exchanges in India. the Payment and Settlement Systems Act, 2007 (PSS Act) and is regulated by RBI. This tax was introduced in 2004 and is levied and collected by the central government of India. 12 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  Har Payment Digital Mission Surety Bonds » The RBI has launched the Har Payment » Recently, New India Assurance (largest public Digital Mission during the Digital Payments sector general insurance company of India) Awareness Week (DPAW) 2023 (March 6 to 12). announced the launch of the surety bond business. The mission is the part of RBI’s endeavour to make every person in India a user of digital A surety bond is a promise to be liable for payments. debt, default or failure. It ensures efficient use of working capital and reduces collateral It will run till the period of Vision 2025 of requirements. RBI which has its theme “E payments for Everyone, Everywhere and Everytime (4Es)”. It’s a three party contract by which one party (surety) guarantees the performance or The 75 Digital Village programme was also obligations of a second party (principal) to a launched during DPAW, under which Payment third party (obligee). System Operators (PSOs) will adopt 75 villages across the country and convert them Surety can be insurance/banks, principal any into digital payment enabled villages. contractor and obligee a government. A surety bond is not a bank guarantee and is Environment, Social and not an insurance policy. Governance (ESG) Liberalised Remittance » The Securities and Exchange Board of India Scheme (LRS) (SEBI) has introduced a regulatory framework for Environmental, Social, and Governance (ESG) disclosures by top listed companies. » Indians have invested all their surplus LRS funds in various securities overseas in the past few Environmental, Social, and Governance (ESG) months to meet the RBI deadline. refer to a set standard for a company’s behaviour used by companies to follow In August 2022, RBI had directed that any governance, ethical practices, environment- money remitted by Indian residents that friendly measures, and social responsibility. remains unutilised for more than 180 days to be repatriated back to India “E” in ESG refers to environmental criteria that considers how a company performs as a LRS was introduced in 2004, an individual can steward of nature. send a maximum of 250,000 dollars annually under the scheme abroad. It can be used for “S” in ESG refers to social criteria that examines investment or expenditure, like medical how a company has managed its relationships expenses or study abroad. with employees, suppliers, customers, and the communities where it operates. It is not available for corporations, partnership firms, HUF, trusts, etc. “G” in ESG refers to the governance factors of decision-making, from sovereign policymaking to the distribution of rights and responsibilities among different participants in corporations, including the board of directors, managers, shareholders, and stakeholders. CSR is a sustainability framework employed by organisations, while ESG measures the organisation’s level of sustainability – increasingly demanded by investors and other stakeholders. SEBI has made ESG disclosures mandatory for the top 1,000 listed companies under its Business Responsibility and Sustainability Reporting (BRSR) initiative. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 13  Hall Mark Unique Identification DigiClaim Number (HUID) » The Union Agriculture Minister launched National Crop Insurance Portal’s digitized claim » The Bureau of Indian Standards (BIS) has settlement module called DigiClaim. prohibited the sale of hallmarked gold jewellery or gold artefacts without HUID after 31st March It is under the ambit of Pradhan Mantri Fasal 2023. Bima Yojana (PMFBY). Hallmarking of gold is done as per Indian It would enable the farmers to track the PMFBY standards in IS 1417:2016 with 3 symbols: claim settlement process on a real-time basis on their mobile phones and receive their claims in a time bound automated manner. It is expected to bring the claim reversal ratio down. Pradhan Mantri Fasal Bima Yojana (PMFBY) is a voluntary scheme to providing affordable crop insurance for risk cover for crops of farmers against all non-preventable natural risks from pre-sowing to post-harvest stage, on an ‘Area Approach Basis’. BIS logo as first symbol. Purity and fineness of gold as second symbol. HUID as third symbol, a unique 6 digit alphanumeric code given to every piece of jewellery to enhance traceability. BIS comes under the Ministry of Consumer Affairs. It can be verified in the BIS care app. It provides third party assurance on purity and fineness of gold jewellery. Chinese Wall Policy » SEBI has amended rules governing the stock exchanges and clearing corporations to follow a “Chinese wall policy” to separate the functions under a virtual barrier. The Chinese wall policy is a virtual information barrier between those who have non-public information and those who don’t, to prevent/ avoid conflicts of interest. It is primarily intended to prevent misuse of inside information in securities trading by limiting availability of material, non-public information to departments of firms that might misuse such information for possible monetary benefits. 14 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  Later, Mauritius joined as the 4th member and International Relations Bangladesh and Seychelles hold observer status. The conclave underlines regional cooperation and shared security objectives concerning all Doha Political Declaration littoral nations in the Indian Ocean Region (IOR). » The 5th United Nations Conference on Maritime safety and security. the Least Developed Countries (LDCs) concluded with adoption of the ‘Doha Political Countering terrorism and Declaration’ by the world leaders. radicalisation. The Doha Political Declaration, adopted on 9th March, reinforces the international Combating trafficking and community’s commitment to the Doha Key areas of transnational organised crime. Programme of Action (DPoA). cooperation Cyber security, protection DPoA is a 10 year plan (2022-2031) to put the of critical infrastructure and world’s 46 Least Developed Countries (LDCs) technology. back on track to achieving the Sustainable Development Goals (SDGs). Humanitarian assistance and disaster relief. Eradicating poverty Leveraging the potential of Black Sea Grain Initiative science and technology DPoA Addressing climate change » Russia agreed to extend the Black Sea Grain consisted of Initiative following talks with the UN for an 6 key focus additional 60 days. areas Environmental degradation The Black Sea Grain Initiative, brokered by the Recovering from COVID-19 UN and Turkey in July 2022 aimed to alleviate pandemic a global food crisis by allowing Ukrainian grain-laded ships blocked by Russia-Ukraine Building resilience against future war to export grain safely. shocks for risk informed sustainable development Ukraine is among the largest exporters of wheat, maize, rapeseed, sunflower seeds and sunflower oil globally. India is not a member of United Nations A Joint Coordination Centre (JCC) was Conference on the Least Developed Countries. established to monitor the implementation of the initiative that includes Russia, Ukraine, UN and Turkey. Later in July 2023, Russia suspended its Colombo Security Conclave (CSC) participation in the Black Sea Grain Initiative. » The Indian Coast Guard organised a tabletop exercise under the aegis of the Colombo Security Conclave (CSC) in Kolkata. CSC was formed in 2011 as a trilateral maritime security grouping of India, Sri Lanka and Maldives. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 15  International Telecommunication International Monetary Fund Union (ITU) » The Prime Minister inaugurated the new » The International Monetary Fund (IMF) has International Telecommunication Union approved a nearly $3 billion bailout program for (ITU) Area office and Innovation Centre in New Sri Lanka over four years. Delhi. The formation of the IMF, a specialised agency The Prime Minister also unveiled the Bharat of the UN, was initiated during the Bretton 6G Vision Document and launched the ‘Call Woods Conference in 1944 after the Great before u dig’ mobile app. Depression of the 1930s. The ITU is the United Nations specialised Currently with 190 member countries, the agency for information and communication organisational structure is headed by a Board technologies. of Governors. It was established in 1865 as International The IMF provides financial assistance Telegraph Union and became a specialised instruments including emergency loans to agency of the UN in 1947. member countries. ITU has a membership of 193 countries Major ones include: including India. 1. The Extended Fund Facility (EFF) provides As per the Bharat 6G Vision Document, financial assistance to all member countries India is gearing up to roll out high speed 6G facing serious medium-term balance of communication services by 2030 and has payments problems because of structural set up a Bharat 6G project to identify and weaknesses that require time to address fund research and deployment of the next with a longer repayment period (3-4 years). generation technology. 2. The Extended Credit Facility (ECF) provides India’s 6G project will be implemented in two medium-term financial assistance to low- phases and the government has also appointed income countries (LICs) with protracted an apex council to oversee the project. balance of payments problems with a maximum duration of 5 years. The Call Before u Dig (CBuD) App, an initiative of the Department of Telecommunication 3. The Rapid Financing Instrument (RFI) aims to prevent damage to underlying assets provides one-time financial assistance to like optical fibre cables that occur because of any IMF member country facing an urgent uncoordinated digging and excavation. balance of payments need. 4. The Rapid Credit Facility (RCF) provides United Nations 2023 Water one-time concessional financial assistance Conference to low-income countries (LICs) facing an urgent balance of payments need. » The conference took place in March 2023 at the 5. The Flexible Credit Line (FCL) is a renewable United Nations headquarters in New York. credit line designed to meet the demand for crisis-prevention and crisis-mitigation The United Nations 2023 Water Conference was for countries with very strong policy co-hosted by the Government of Tajikistan frameworks and track records in economic and the Kingdom of the Netherlands. performance. This was the 2nd UN conference dedicated to 6. The Precautionary and Liquidity Line (PLL) water, after the 1977 conference in Mar del is designed to meet the liquidity needs of Plata, Argentina. member countries with sound economic fundamentals but with some remaining The summit emphasised on urgently tackling vulnerabilities that prevent them from the water crisis and getting the world back on using the Flexible Credit Line (FCL). track on Sustainable Development Goal 6 - Clean Water and Sanitation. Also, a mid-term review of the UN Decade for Action on Water and Sanitation (2018-2028) was held at the conference. 16 [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy  7. The Short Term Liquidity Line provides Summit for Democracy support (12 months) to countries facing potential, moderate, short- term balance of payment needs related to capital account » US President Biden co-hosted the second pressures that could arise from external Summit for Democracy with the governments developments. It aims to minimise the risk of Costa Rica, the Netherlands, Korea, and of shocks evolving into deeper crises and Zambia. spilling over to other countries. Summit for Democracy was first hosted by the 8. The Stand-by Arrangement (SBA) US President Biden in 2021. provides short-term (not more than 36 months) financial assistance to countries It aims to show how open, rights-respecting (advanced & emerging market economies) societies can work together to effectively facing balance of payments problems. tackle the challenges of our time such as the COVID-19 pandemic, the climate crisis, and 9. The Stand-by Credit Facility (SCF) inequality. provides financial assistance to low-income countries (LICs) with short-term (12 to 36) The Summit is centred around three principal balance of payments needs. themes: Defending against authoritarianism, Addressing and fighting corruption and 10. The Resilience and Sustainability Facility Advancing respect for human rights. (RSF) provides affordable long-term financing to countries undertaking reforms India was a participant of both the Summits to reduce risks of balance of payments held in 2022 and 2023. instability, including those related to climate change and pandemic preparedness. The Five Eyes Vienna Convention on Road Signs and Signals treaty » China recently argued that alliances like Five Eyes, Quad and AUKUS have come up in a vacuum and threaten its reach. » Egypt’s cabinet passes the Vienna Convention on Road Signals and Signals treaty (1968). The Five Eyes is a comprehensive intelligence partnership between the United Kingdom, The convention signed in 1968 - came into the United States, Canada, Australia, and force in 1978. New Zealand. The primary aim is to increase road safety and It began as the Britain-USA (BRUSA) agreement aid international road traffic , standardising 1943, later evolving into the UK-USA (UKUSA) the signalling system for road traffic (road agreement, with Canada joining in 1949 and signs, traffic lights and road marking) in use New Zealand and Australia in 1956. internationally. These nations collaborate closely on It has 35 signatories (USA, China and Japan intelligence matters, sharing information to among others are not signatory). protect their shared national interests. India is not a signatory to the convention but in 1980 deposited an instrument of accession. United Nations Convention on the Law of the Sea (UNCLOS), 1982 » Recently, for the first time, United Nations members have agreed on a unified treaty to protect biodiversity in the high seas. UNCLOS (also known as the Law of the Sea), is the only international convention which provides a framework for state jurisdiction in maritime spaces and legal status to different maritime zones. It has been ratified by 169 parties. [email protected] | www.fortuneias.com | +91 94950 15888 | +91 81389 40888 @fortuneias @fortune_ias_academy 17  It divides marine areas into five main zones will go to the EU respectively after full customs namely: procedure. Internal Waters: Waters on the landward Stormont brake: A mechanism that gives the side of the baseline from which the breadth Northern Ireland assembly the power to object of the territorial sea is measured. (Baseline to changes to EU rules that apply in Northern is the low-water line along the coast as Ireland. officially recognized by the coastal state). Territorial Sea: It extends seaward up to 12 nautical miles from its baseline. Contiguous Zone: It extends seaward up to 24 nautical miles from its baseline. Exclusive Economic Zone (EEZ): Each coastal state may claim an EEZ beyond its territorial sea that extends seaward up to 200 nautical miles from its baseline. Within its EEZ, a coastal state has: ◊ Sovereign rights for the purpose of Indo-Pacific Economic Framework exploring, exploiting, conserving and managing natural resources of the seabed and subsoil and the right to carry