Reports & Indices Current Affairs - 2019
This category comprises Current Affairs 2019-2020 related to various reports and indexes / indices by National and International Bodies and organizations such as World, Bank, World Economic Forum, NITI Aayog and various other educational and research organizations. We also place report highlights of various committees and commissions in this category.
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The Reserve Bank of India (RBI) extended the time for issuance of Inflation Indexed National Savings Securities Cumulative (IINSS-C) bonds (or inflation linked bonds) by three months to March 31, 2014, from December 31, 2013. The issuance can be closed earlier than March 31, 2014 with a prior notice.
Why RBI extended the deadline to issue inflation-indexed bonds?
- The operational guidelines (internal to banks) for selling these certificates at the branch level are still in the works.
- Secondly, it will take time to create awareness among customers in relation to inflation linked bonds.
Inflation linked bonds
- The limit for investment per applicant per annum: Rs 5,000 – Rs 5 lakh.
- Eligibility for subscription: Individuals, Hindu Undivided Family, charitable institutions and universities.
- The interest rate on these bonds would be linked to the Consumer Price Index (CPI).
- The interest rate would comprise two parts — a fixed rate of 1.5% per annum and inflation rate based on CPI with a lag of three months. It would be compounded on the principal on half-yearly basis and paid at the time of maturity.
- For senior citizens (65 years and above of age), early repurchase will be allowed after one year from date of issue and other investors can redeem them after three years but with penalty of 50 per cent of the last coupon paid.
- RBI will act as a central depository, as these securities will be issued in the form of Bonds Ledger Account (BLA) and held with RBI.
- Distribution or sale of bonds would be through banks: SBI, nationalized banks and three private banks HDFC Bank, ICICI Bank and Axis Bank and Stock Holding Corporation of India.
Note: Inflation linked bonds are launched as instruments that will protect savings from inflation, especially the savings of the poor and middle classes.
According to a survey by corruption watchdog Transparency International, India is positioned at 94th place on corruption index which ranked 177 countries. Afghanistan, North Korea and Somalia are viewed as the world’s most corrupt countries while Denmark and New Zealand have scored the best.
As per Corruption Perception Index (CPI) 2013:
- India, with a score of 36 out of 100, ranked 94 on the index, above Pakistan at rank 127 but below China which stood at the 80th position.
- Globally, almost 70% of countries are found to have a “serious problem” with public servants on the take, and none of the 177 countries surveyed this year achieved a perfect score.
- Performance of countries like Syria, Libya and Mali which are ridden with war and conflicts deteriorated the most on the index.
- Bhutan ranked 31st, Sri Lanka 91, Nepal 116, Pakistan 127 and Bangladesh 136.
- In 2012, Bhutan was ranked 33rd, Sri Lanka at 79, Nepal 139, Pakistan 139 and Bangladesh 144.
- India remained stagnant at the same 94th spot both in 2013 and 2012.
- Among BRICS group, India is behind China (80th), South Africa and Brazil (both 72nd). It is, however, better than Russia (127th).
- Denmark and New Zealand have scored the best on the index.
- Afghanistan, North Korea and Somalia are categorized as the world’s most corrupt.
Top 10 least corrupt countries in the world, according to the CPI 2013:
- New Zealand (tied with Denmark for No. 1)
- Sweden (tied with Finland for No. 3)
- Singapore (tied with Norway for No. 5)
- Canada (tied with Australia for No. 9)