News Summary · 3 minutes read
Stay ahead in your UPSC CSE preparation with our daily News Summary. Designed to save time, it highlights key national and international events from leading newspapers and government websites.
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Lead Bank Scheme
- Introduced by RBI in 1969 on the basis of the recommendations of Gadgil Study Group and Nariman Committee.
- Each district is allotted to one specific public or private sector bank as the lead bank.
- Lead banks coordinate with all credit institutions in their respective districts for expanding branches and institutional credit to enhance rural economy, with special focus on priority sectors like agriculture, MSMEs, and weaker sections.
Recently, RBI issued a draft circular on LBS’s revised guidelines.
In-house procedure for judicial misconduct
- An internal accountability mechanism for addressing judicial misconduct like corruption or sexual offences by judges → Applies to SC/HC judges only.
- Developed by the Supreme Court in 1999 → allows the judiciary to self-regulate.
- Focuses on confidentiality, judicial independence, and precedes constitutional removal under Article 124(4), e.g., enquiry of HC judge Yashwant Varma.
- 8,360 complaints against judges were recorded between 2016 and 2025.
Process
- Complaint: Lodged with CJI (for SC judges/HC CJ), HC Chief Justice (for HC judges) → complaints submitted through the CPGRAMS or other channels are forwarded to the CJI or the respective High Court Chief Justices.
- Preliminary Scrutiny
- Deeper Probe Decision (If needed)
- Committee Formation: CJI constitutes a 3-member committee (2 HC Chief Justices + 1 HC judge).
- Inquiry
- Report Submission: To CJI, with findings.
- Outcomes
- No/minor substance: drop case/advise/warn, record placed.
- Serious: advise resignation/retirement → if refused, withdraw judicial work and recommend for impeachment under Article 124(4).
Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, 2025
- Repeals the Atomic Energy Act, 1962 and Civil Liability for Nuclear Damage Act, 2010.
- Enables private Indian companies to build, own, operate, and decommission nuclear power plants.
- Private Indian companies can also form joint ventures with foreign companies for technology collaboration.
- Reserves sensitive areas like fuel production for the government.
India’s installed nuclear capacity is 8.8 GW, accounting for 3% of total electricity generation → Target: 100 GW by 2047.
TSPs do not own spectrum, rules SC
The Supreme Court has ruled that:
- Spectrum is a scarce natural resource owned by the people of India, with legal title vesting exclusively in the Union of India, which holds it in trust for the public.
- Telecom service providers (TSPs) do not own spectrum.
- Insolvency and Bankruptcy Code (IBC) excludes any assets over which a corporate debtor has no ownership rights → spectrum cannot be included in TSP’s pool of “assets” for insolvency or liquidation.
PM Modi inaugurates Seva Teerth, Kartavya Bhavan
- Seva Teerth: new building, housing PMO, National Security Council Secretariat, and Cabinet Secretariat.
- Kartavya Bhavan (KB): includes two (KB 1 & KB 2) new buildings, housing central secretariat (several key ministries).
Design
- Built using white and red sandstones → inspired by Indian civic and institutional architectural traditions.
- Metal-clad domes: inspired by Buddhist Stupas → introduced as contemporary accent elements.
- Entrance portal: inspired by stone screen-work of Chalukyan temples (11th-13th centuries).
- Carved stone plinth band: inspired by base mouldings of the 12th-century Chennakeshava Temple (Belur, Karnataka).
Quick Picks for Pre and Mains (QPPM)
- India’s first ‘musical’ road: unveiled by Brihanmumbai Municipal Corporation in Mumbai.
- Jamnagar refinery (Gujarat): world’s largest single-site petroleum refining complex → owned/operated by Reliance Industries.