Context
• RBI proposed a new framework to compensate victims of small-value digital frauds.
Key Points
• Applicable for frauds below ₹50,000
• Compensation limit: ₹25,000 or 85% of loss, whichever is lower
• No-fault basis: Compensation even if OTP was shared
• One claim per year allowed
• Objective: Strengthen consumer protection and trust in digital payments
Context
• India’s Chabahar Port project faces uncertainty due to renewed U.S. sanctions pressure and tariff threats, even as India continues strategic engagement.
Recent Developments
• 10-year agreement (2024): India signed long-term contract to operate Shahid Beheshti terminal
• Sanctions pressure (2025–26):
• U.S. revoked 2018 waiver
• Issued temporary 6-month waiver till April 26, 2026
• India’s approach:
• No Iranian oil imports
• Continues port operations to access Afghanistan and Central Asia
• Tariff threat (2026):
• U.S. indicated 25% tariffs on countries doing business with Iran
Context
• A Kerala MP introduced a Private Member’s Bill in Rajya Sabha to amend the Census Act, 1948.
• Objective: Mandate a national Census every 10 years, citing delays due to COVID-19 and the need for updated demographic and caste data for welfare planning.
Private Member’s Bill (PMB)
• Introduced by: Non-minister MP
• Purpose: Highlight issues, push policy debate
• Notice period: 1 month
• Discussed on: Fridays
• Procedure: Same as government Bills
Key Prelims Facts
• Only 14 PMBs passed since 1950
• Last PMB passed: 1970 (Supreme Court-related)
• Very low success rate
Context
• RBI’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.25%.
• Stance remains neutral.
• Inflation projection for FY26: 2.1%.
• Growth outlook positive, but risks from geopolitical tensions and precious metal prices persist.
Monetary Policy Committee (MPC)
• Legal basis: RBI Act, 1934 (amended in 2016)
• Objective: Achieve inflation targeting while supporting growth
• Inflation target: 4% ± 2% (set for 5 years)
Composition (6 members)
• RBI: Governor (Chair), Deputy Governor (Monetary Policy), one RBI nominee
• Government: 3 independent experts
Decision-making
• One vote per member
• Majority decision
• Governor has casting vote in case of tie
• Minimum 4 meetings per year
Context
• Supreme Court ordered the Telangana Assembly Speaker to decide the remaining 2 defection petitions (out of 10 BRS MLAs) within 3 weeks.
• Court warned that further delay would amount to contempt of court, as the Speaker functions as a quasi-judicial tribunal under the Tenth Schedule.
Tenth Schedule – Anti-Defection Law
• Introduced by: 52nd Constitutional Amendment Act, 1985
• Grounds for disqualification:
• Voluntarily giving up party membership
• Voting/abstaining against party whip without permission
• Independent member joining a party
• Nominated member joining a party after 6 months
Decision-maker
• Speaker/Chairman of the House
• Subject to judicial review (Kihoto Hollohan vs Zachillhu, 1992)
Merger rule
• Protection only if 2/3rd of the legislature party merges (91st Constitutional Amendment)
Article 102 – General Disqualification (MPs)
• Holding office of profit
• Unsound mind
• Undischarged insolvent
• Loss of Indian citizenship
• Disqualification under parliamentary law (includes Tenth Schedule, RPA 1951)
• Article 191 has similar provisions for MLAs
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