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CURRENT AFFAIRS – 10/10/2023

CURRENT AFFAIRS – 10/10/2023

CURRENT AFFAIRS – 10/10/2023

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  1. CURRENT AFFAIRS – 10/10/2023

CURRENT AFFAIRS – 10/10/2023

2023 Nobel Prize in Economic Sciences

(General Studies- Paper III)

Source : TH

Harvard University professor Claudia Goldin has been awarded the Nobel Prize in Economics for her groundbreaking research on the gender gap in the labor market.

  • Goldin’s work has contributed significantly to understanding the persistence of gender wage disparities despite women achieving higher levels of education.
  • She becomes only the third woman out of 93 economics laureates to receive this prestigious award, highlighting gender disparities in Nobel recognition.

Key Highlights

  • Understanding the Gender Gap:
    • Goldin’s research spans 200 years of women’s participation in the workplace, revealing that women’s pay has not consistently caught up to men’s, and a significant gender divide still exists.
    • Her work delves into the relationship between women’s roles in the job market and the pay they receive, emphasizing that these factors are influenced by individual decisions, educational choices, and societal norms.
    • Goldin’s analysis also highlights the role of women’s jobs that allow them to be on call at home, often resulting in lower pay.
  • Challenges in Policy Development:
    • While Goldin’s research explains the source and evolution of the gender pay gap, it does not offer specific policy solutions.
    • Economist Randi Hjalmarsson, a member of the Nobel committee, notes that addressing this complex issue requires tailored policies as there is no one-size-fits-all solution.
    • However, Goldin’s work provides the necessary foundation for policymakers to better understand the problem and develop effective strategies for closing the gender wage gap.
  • Role of Individual Decisions:
    • Goldin’s research underscores that individual decisions, including educational and career choices, play a crucial role in shaping women’s roles in the workforce.
    • The study suggests that each generation of young girls makes decisions about their future work based on the successes and failures of the preceding generation.
    • This evaluation process contributes to the slow progress in reducing gender gaps in the labor market.
  • This recognition also brings attention to the need for greater representation and acknowledgment of female researchers in the field of economics.

Mental health and the floundering informal worker

(General Studies- Paper II)

Source : TH

The theme for World Mental Health Day in 2023 is “mental health as a universal human right,” highlighting the importance of mental health for all individuals.

  • A study by the International Labour Organization (ILO) reveals that 15% of working-age adults worldwide live with a mental disorder.
  • Employment can have both positive and negative impacts on mental health, with decent work contributing positively, while unemployment, unstable jobs, discrimination, and unsafe working conditions can pose risks.

Key Highlights

  • India’s Informal Workforce and Mental Health:
    • In India, over 90% of the workforce operates informally, lacking regulatory protection and working in unsafe environments.
    • These workers endure long hours, have limited access to social and financial protections, face high uncertainty, and often experience discrimination, all of which can undermine their mental health.
  • Gender Disparities and Mental Health:
    • India’s working women, over 95% of whom are engaged in informal, low-paying, and precarious employment, face gender disparities.
    • They lack social protection and often contend with patriarchal structures in their personal and familial lives, further impacting their mental well-being.
  • Youth Unemployment and Mental Health:
    • India’s youth unemployment rates are among the highest, and stigma surrounding unemployment negatively affects young people’s mental health.
    • Young workers sometimes accept precarious and informal work with lower pay and poor conditions out of desperation, exacerbating mental health challenges.
  • Demographic Dividend and Quality of Employment:
    • India is in the midst of a demographic dividend, with half of its population of working age, requiring consideration of employment quality and long-term social security.
    • The State of Inequality in India Report 2022 highlights rising unemployment rates, particularly for educated young women.
  • Challenges for the Aging Workforce:
    • India is set to become an aging society in two decades, with inadequate social security provisions for this vulnerable group.
    • Many elderly individuals continue to work in informal jobs post-retirement, facing economic dependency and a lack of financial assets.
    • The absence of financial and healthcare security for elderly workers can significantly impact their physical and mental health.
  • Debt and Health-Care Costs:
    • Informal workers often face mental distress due to the accumulation of debt and rising healthcare expenses.
    • The relationship between debt and healthcare costs is intertwined and mutually reinforcing, leading to mental health challenges.
  • Post-COVID Recovery Disparities:
    • A study by Women in Informal Employment: Globalizing and Organizing (WIEGO) among informal workers in Delhi, primarily migrants, highlights uneven post-COVID recovery among this group.
    • Many informal workers continue to experience food insecurity, skipped meals, and reduced consumption.
  • Impact of Social Factors on Mental Health:
    • The KeshavDesiraju India Mental Health Observatory emphasizes that mental health and well-being are influenced by factors such as food security, access to livelihood, and financial stability.
    • Variations in social security schemes’ funding can affect mental health outcomes.
    • The National Crime Records Bureau (NCRB) reported that 26% of individuals who died by suicide in 2021 were daily wage earners.
    • Employment guarantee programs, such as the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS), can potentially improve mental health outcomes.
    • Social security can serve various purposes, including promotion (income augmentation), prevention (economic distress mitigation), and protection (relief from external shocks).
  • Challenges in the Code on Social Security 2020:
    • The Code on Social Security 2020 lacks a clear goal of universalizing social security in India.
    • Issues concerning the social security of the informal workforce remain unaddressed.
  • Improving Care for Informal Workers:
    • Despite their significant contribution to national income, informal workers face economic, physical, and mental vulnerabilities.
    • India’s budget allocation for mental health, which currently accounts for less than 1% of the total health budget, has primarily focused on digital mental health programs.
    • The World Mental Health Report 2022 emphasizes the need to strengthen community-based care and adopt a people-centered, recovery-oriented, and human rights-oriented approach.
    • Proactive policies are urgently required to improve mental health recognition and action, aligning with the basic human right to good health, including mental health, and contributing to the Sustainable Development Goals (SDGs), particularly SDG 3 on ‘good health and well-being’ and SDG 8 on ‘decent work for all/economic growth.’

What do the home lands of India’s ST communities look like?

(General Studies- Paper II)

Source : TH

India is home to 705 Scheduled Tribe (ST) communities, comprising 8.6% of the country’s population.

  • These communities are distributed across 26 States and six Union Territories.

Key Highlights

  • Relevance of Article 244:
    • Article 244 of the Indian Constitution is a crucial provision for STs, particularly Article 244(1) and Article 244(2).
    • Article 244(1) applies the Fifth Schedule provisions to Scheduled Areas notified in any State other than Assam, Meghalaya, Tripura, and Mizoram.
    • Article 244(2) states that the Sixth Schedule applies to states like Assam, Meghalaya, Tripura, and Mizoram.
  • Coverage and Importance of Scheduled Areas:
    • Scheduled Areas encompass 11.3% of India’s land area and have been officially designated in 10 States:
      • Andhra Pradesh, Telangana, Odisha, Jharkhand, Chhattisgarh, Madhya Pradesh, Rajasthan, Gujarat, Maharashtra, and Himachal Pradesh.
    • Kerala has also proposed to notify Scheduled Areas in certain regions but awaits approval from the Indian government.
  • Exclusion of Villages and Implications:
    • Despite demands from Adivasi (indigenous) organizations, many villages with ST populations have been excluded from Scheduled Areas.
    • Approximately 59% of India’s STs do not benefit from Article 244, denying them rights provided under laws applicable to Scheduled Areas, including the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act 2013 and the Biological Diversity Act 2002.
  • Bhuria Committee Recommendations:
    • In 1995, the Bhuria Committee was formed to suggest provisions for extending panchayat raj (local self-governance) to Scheduled Areas.
    • The committee recommended the inclusion of these excluded villages, but this recommendation remains unimplemented.
    • The absence of viable ST-majority administrative units is often cited as a bureaucratic response, leading to calls for denotification of parts of Scheduled Areas where STs have become a minority due to the influx of non-tribal individuals.
  • Notification and Advisory Council:
    • The President of India has the authority to notify Scheduled Areas in the country.
    • States with Scheduled Areas are required to establish a Tribal Advisory Council consisting of up to 20 members from Scheduled Tribes (ST).
      • This council advises the Governor on matters related to ST welfare.
    • The Governor submits an annual report to the President on the administration of Scheduled Areas.
  • National Government’s Authority:
    • The central government can issue directives to the State government regarding the administration of Scheduled Areas.
    • The Governor has the power to repeal or amend any law enacted by both Parliament and the State Legislative Assembly, as it applies to the Scheduled Area of the State.
    • The Governor can also establish regulations specific to a Scheduled Area, such as controlling the transfer of tribal land among ST members and regulating land allotment and money-lending to STs.
  • Despite the constitutional provisions and authority vested in Governors, along with oversight from the President, these provisions have seen limited implementation, except for a brief period in Maharashtra from 2014 to 2020.
  • Significance of the Panchayats (Extension to Scheduled Areas) Act (PESA):
    • PESA, enacted by Parliament in 1996, played a crucial role in actualizing the constitutional intent and the vision of the Constituent Assembly.
    • While State Panchayat laws empowered elected panchayat bodies, PESA empowered gram sabhas (village assemblies) to exercise substantial authority through direct democracy.
    • PESA clarified that higher-level structures should not assume the powers and authority of the gram sabha, reinforcing local self-governance.
  • Authority to Declare Scheduled Areas:
    • The Fifth Schedule grants exclusive power to the President to declare an area as a Scheduled Area.
    • The Supreme Court, in a 2006 case, emphasized that the identification of Scheduled Areas is an executive function, and the judiciary lacks the expertise to scrutinize its empirical basis.
    • A 2010 decision by the Jharkhand High Court upheld the discretion of the President in declaring Scheduled Areas, even when the ST population in certain blocks was less than 50%.
  • Lack of Clear Criteria:
    • Neither the Constitution nor any law in India provides specific criteria for identifying Scheduled Areas.
    • However, the 1961 Dhebar Commission Report suggests guiding norms, including a preponderance of tribal population, compactness, viability as an administrative entity, and economic backwardness relative to neighboring areas.
    • There is no legal prescription for the minimum percentage of Scheduled Tribe (ST) population in an area or a cut-off date for its identification.
    • The 2002 Scheduled Areas and Scheduled Tribes Commission recommended considering areas with 40% or more tribal population according to the 1951 census for Scheduled Area status, but this suggestion received no response from states.
    • Compactness implies that proposed villages should be contiguous with each other or with existing Scheduled Areas, but this is not mandatory.
    • Some proposals, like Kerala’s, do not adhere to these conditions.
  • Basic Unit of Self-Governance:
    • The Bhuria Committee recognized a face-to-face community or a group of hamlets managing its own affairs as the basic unit of self-governance in Scheduled Areas.
    • Administrative boundaries have divided resource-rich tribal-inhabited areas, affecting their status and self-governance.
  • Clarification Through PESA:
    • The Provisions of the Panchayats (Extension to Scheduled Areas) Act (PESA) defined a ‘village’ as a habitation or group of habitations comprising a community and managing its affairs.
    • This definition expanded the concept of a village and resolved ambiguity in law.
    • The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act (FRA) 2006 adopted PESA’s village definition.
    • Gram sabhas, the statutory authority under FRA, need to demarcate customary boundaries on revenue lands and community forest resources on forest land within their territorial jurisdiction.
  • What can be done:
    • Notify habitations or groups of habitations as Scheduled Areas outside existing Scheduled Areas in all states and Union Territories where STs are the largest social group.
    • Extend the geographical limits of these villages to encompass community forest resources on forest land (where applicable) and the customary boundary within revenue lands through suitable amendments to state laws.
    • Redraw the geographical limits of revenue villages, panchayats, talukas, and districts to include them within fully Scheduled Areas.

Safeguards related to Scheduled Tribes (ST) in Constitution

  • Scheduled Tribes (ST) in India are given special recognition and provisions in the Constitution of India to safeguard their rights and promote their welfare.
  • These provisions are primarily enshrined in Articles 342, 244, and the Fifth and Sixth Schedules of the Constitution.
  • Article 342: Scheduled Tribes
    • Article 342 empowers the President of India to specify the tribes or tribal communities who shall be deemed to be Scheduled Tribes in different states and Union Territories.
    • The President, after consulting with the Governor of a state, can issue public notifications listing these Scheduled Tribes.
    • The President can also make certain modifications to these lists through subsequent notifications.
  • Article 244: Administration of Scheduled Areas and Tribal Areas
    • Article 244 provides for the administration of Scheduled Areas and Tribal Areas in various states and Union Territories.
    • The provisions of the Fifth Schedule apply to the administration of Scheduled Areas in states other than Assam, Meghalaya, Tripura, and Mizoram.
    • The Sixth Schedule applies to the administration of tribal areas in the states of Assam, Meghalaya, Tripura, and Mizoram.
    • These schedules contain special provisions for the governance and protection of the rights of Scheduled Tribes in these areas.
  • Fifth Schedule: Provisions for Scheduled Areas
    • The Fifth Schedule of the Indian Constitution contains detailed provisions for the administration and control of Scheduled Areas.
    • It includes provisions related to the formation of Tribal Advisory Councils, the powers of Governors in relation to Scheduled Areas, and the regulation of land and money-lending to Scheduled Tribes.
    • It also includes safeguards against the alienation of tribal land.
  • Sixth Schedule: Provisions for Tribal Areas
    • The Sixth Schedule of the Constitution provides for the administration and governance of certain tribal areas in the states of Assam, Meghalaya, Tripura, and Mizoram.
    • It establishes autonomous district councils and autonomous regional councils in these areas.
    • These councils have special powers to make laws on a range of subjects, including land, forests, and local governance.
    • The provisions under the Sixth Schedule vary from state to state.
  • Article 46: Promotion of Educational and Economic Interests of Scheduled Castes, Scheduled Tribes, and Other Weaker Sections
    • Article 46 is a Directive Principle of State Policy that mandates the state to promote the educational and economic interests of Scheduled Tribes, Scheduled Castes, and other weaker sections.
    • It emphasizes the importance of special care and protection for these communities.
  • Various Articles on Fundamental Rights and Non-Discrimination
    • Various provisions in the Fundamental Rights chapter of the Constitution, such as Article 15(4), Article 16(4), and Article 46, enable the state to make special provisions for the advancement of Scheduled Tribes by way of affirmative action.

About Provisions of the Panchayats (Extension to Scheduled Areas) Act (PESA)

  • The Provisions of the Panchayats (Extension to Scheduled Areas) Act, commonly referred to as PESA, was enacted by the Government of India to extend the provisions of the Panchayati Raj system to the Scheduled Areas of certain states.
  • PESA was enacted in 1996 to empower local self-governance institutions and tribal communities in these areas.
  • Applicability:PESA applies to the Scheduled Areas of the following states:
    • Andhra Pradesh
    • Chhattisgarh
    • Gujarat
    • Himachal Pradesh
    • Jharkhand
    • Madhya Pradesh
    • Maharashtra
    • Odisha
    • Rajasthan
    • Telangana
  • Key Provisions:
    • Gram Sabhas Empowerment:
      • PESA places significant emphasis on the role and powers of the gram sabha (village assembly) in the governance of Scheduled Areas.
      • It recognizes the gram sabha as the primary authority for self-governance.
    • Responsible for Decision-Making:
      • The gram sabha is responsible for approving development plans, social justice measures, and public works programs in the Scheduled Areas.
      • It also has control over the natural resources in these areas.
    • Ownership of Minor Forest Produce:
      • Gram sabhas have the authority to manage and control minor forest produce, including the collection, sale, and fair pricing of such produce.
      • This provision helps in protecting the livelihoods of tribal communities.
    • Land Acquisition:
      • PESA restricts the acquisition of land in Scheduled Areas by non-tribal individuals and entities.
      • It requires the consent of the gram sabha for land acquisition, resettlement, or rehabilitation processes.
    • Conflict Resolution:
      • PESA provides for the establishment of tribunals and councils at the gram panchayat and district levels to adjudicate disputes and offenses related to land, forests, and resources in Scheduled Areas.
    • Ownership of Minor Minerals:
      • Gram sabhas have control over the grant of mining leases for minor minerals in Scheduled Areas.
      • This provision aims to prevent the exploitation of mineral resources without the consent of local communities.
    • Customary Law and Traditions:
      • PESA recognizes and respects the customary law, social and religious practices, and traditional management practices of local tribal communities.
    • Local Plans and Priorities:
      • The planning process under PESA requires the preparation of local plans based on the needs and priorities of the people in Scheduled Areas.
      • These plans are integrated with the state and district plans.
    • PESA mandates the implementation of social justice measures, including reservations for Scheduled Tribes and Scheduled Castes in local governance institutions.
    • The Act emphasizes the preservation of the social, cultural, and economic identity of Scheduled Tribes in Scheduled Areas.
    • PESA allows gram sabhas to regulate or prohibit the sale and consumption of alcohol in Scheduled Areas, taking into account the harmful effects of alcohol abuse on tribal communities.

Urban unemploymentrate drops to 6.6% in Q1

(General Studies- Paper II)

Source : TH

The latest data from the National Sample Survey Office (NSSO) indicates a notable decline in urban unemployment, signaling a positive outlook for urban employment in the post-pandemic era.

Key Highlights

  • Declining Urban Unemployment Rate:
    • The urban unemployment rate dropped to 6.6 percent in April-June 2023, down from 7.6 percent in the same period a year ago.
    • For males in urban areas, the unemployment rate decreased to 5.9 percent from 7.1 percent compared to the previous year.
    • For females in urban areas, it declined to 9.1 percent from 9.5 percent over the same period.
  • Increased Labor Force Participation:
    • The Labor Force Participation Rate (LFPR) saw an increase, rising to 48.8 percent in April-June 2023 from 47.5 percent in the same quarter of the previous fiscal year.
    • The Worker Population Ratio (WPR) for urban areas increased, reaching 45.5 percent in April-June 2023.
  • Post-Pandemic Economic Normalcy:
    • The positive trends in urban unemployment are attributed to the return of post-Covid economic normalcy, with experts noting a declining trend in unemployment rates as the economy recovers from Covid-related restrictions.
  • The findings are based on the 19th quarterly bulletin of the Periodic Labour Force Survey (PLFS), which surveyed 44,190 households and 1,67,916 persons in urban areas during the April-June 2023 quarter.
  • Previous Unemployment Rates:
    • In January-March of the same year, the overall unemployment rate (UR) in urban areas was 6.8 percent.
    • It was 7.2 percent in both the July-September 2022 and October-December 2022 quarters.
    • The Covid-related restrictions had led to a high UR of 7.6 percent in April-June 2022.
  • Gender-Specific Unemployment Rates:
    • For males, the UR decreased from 7.1 percent to 5.9 percent in the year-ago period.
    • For females, the UR dropped from 9.5 percent to 9.1 percent in April-June 2023.
  • NSSO’s PLFS Initiative:
    • The NSSO launched the Periodic Labour Force Survey (PLFS) in April 2017 to provide estimates of labor force indicators, including the unemployment rate, Worker Population Ratio (WPR), Labor Force Participation Rate (LFPR), and more.

About National Sample Survey Office (NSSO)

  • The National Sample Survey Office (NSSO) is an agency under the Ministry of Statistics and Programme Implementation (MoSPI) in India.
  • Its primary role is to conduct nationwide sample surveys to gather essential data and information on various socioeconomic aspects of the country.
  • NSSO was established in 1950 to fulfill the growing need for comprehensive and reliable statistical data in India.
  • Headquarters: The NSSO headquarters is located in New Delhi, India.
  • Some of the prominent surveys conducted by NSSO include the National Sample Survey (NSS), Consumer Expenditure Surveys, Employment-Unemployment Surveys, and more.
  • Data Collection:
    • Data collection is typically carried out through a combination of personal interviews and household surveys.
    • Trained field investigators gather information from selected households across the country.

Stroke could lead to nearly 10 million deaths annually by 2050, warns report

(General Studies- Paper II)

Source : TH

A report published in the Lancet Neurology journal warns that stroke, a largely preventable and treatable condition, could lead to nearly 10 million deaths annually by 2050.

  • The report is a collaborative effort between the World Stroke Organization and the Lancet Neurology Commission and comprises four studies.

Key Highlights

  • Impact on Low- and Middle-Income Countries (LMICs)
    • The projection indicates that the global stroke death toll is expected to increase from 6.6 million in 2020 to a staggering 9.7 million by 2050.
    • Importantly, this surge in stroke deaths is expected to disproportionately affect low- and middle-income countries (LMICs), which are likely to see an increase in stroke deaths from 86% to 91% by 2050.
  • The report underscores the critical importance of implementing evidence-based, pragmatic solutions to combat this impending crisis.
  • It emphasizes that rigorous monitoring and implementation of the recommendations made by the Lancet Neurology Commission could significantly reduce the global stroke burden.
  • India’s Response
    • Rajiv Bahl, Director General of the Indian Council of Medical Research (ICMR), stressed the need for implementing evidence-based stroke care in India to mitigate disability and prevent new strokes.
    • He mentioned that the ICMR is actively involved in developing country-specific ambulatory care models at the primary care level to address non-communicable diseases like stroke.
  • Key Recommendations
    • The commission authors have put forward 12 evidence-based recommendations aimed at addressing stroke surveillance, prevention, acute care, and rehabilitation.
    • These recommendations include:
      • Establishing cost-effective surveillance systems to gather accurate epidemiological stroke data for informed prevention and treatment.
      • Raising public awareness and promoting healthier lifestyles through the widespread use of mobile and digital technologies.
      • Prioritizing meticulous planning of acute stroke care services, which includes capacity building, training, provision of appropriate equipment, affordable medicines, and adequate resource allocation.

What is ‘Stroke’?

  • A stroke occurs when there is a sudden disruption of blood flow to a part of the brain.
  • This can happen due to the blockage of a blood vessel (ischemic stroke) or the rupture of a blood vessel (hemorrhagic stroke).
  • When blood supply to the brain is compromised, brain cells can begin to die, and this can lead to various neurological symptoms.
  • Complications:
    • Strokes can lead to a range of complications, which may include severe neurological deficits.
    • Common complications include paralysis, difficulty speaking or understanding language (aphasia), cognitive impairment, and more.
    • These complications can significantly impact a person’s quality of life and daily functioning.
  • Fatal Complications:
    • In some cases, the complications arising from a stroke can be severe enough to lead to a person’s death.
    • For example, if a stroke affects the areas of the brain responsible for controlling vital functions like breathing or heart rate, it can result in a life-threatening situation.
    • Alternatively, severe brain damage caused by the stroke may lead to the withdrawal of life-sustaining measures in a hospital setting, ultimately resulting in death.

IRDAI issues guidelines on BimaVahaks

(General Studies- Paper II)

Source : TH

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced guidelines for BimaVahaks, a dedicated distribution channel aimed at enhancing insurance inclusion, particularly in rural areas.

  • This initiative aligns with IRDAI’s goal of achieving “Insurance for All.”

Key Highlights

  • Key Role in Promoting BimaVistaar:
    • BimaVahaks are expected to play a crucial role in promoting “BimaVistaar,” which represents affordable, accessible, and comprehensive insurance coverage, as envisioned by the regulator.
    • The guidelines are set to come into effect upon the launch of BimaVistaar, a comprehensive insurance product to be issued in the future.
  • Responsibilities and Guidelines for BimaVahaks:
    • Distribution Channel:
      • BimaVahaks, both individual and corporate, will be equipped with handheld electronic communication devices integrated with insurers’ electronic platforms.
      • They will sell and service BimaVistaar and other products specified by the regulator.
      • Importantly, BimaVahaks are not permitted to collect fees or charges from policyholders, aside from the insurance premium.
    • Operational and Conduct Standards:
      • The Life Insurance Council and General Insurance Council will jointly establish a common set of operational and conduct standards applicable to BimaVahaks.
      • These standards will cover various aspects, including educational qualifications, commission structures, training requirements, terms of appointment, data confidentiality, and compliance.
    • Board-Approved Policy:
      • Insurers are required to have a board-approved policy concerning BimaVahaks, in accordance with the standards defined by the councils.
    • Geographical Coverage:
      • Every insurer must engage individual and corporate BimaVahaks with a focus on progressively covering every Gram Panchayat, aiming to deploy BimaVahaks in each Gram Panchayat by December 31, 2024.
    • Scope of Work for BimaVahaks:
      • Promoting Insurance Awareness:
        • BimaVahaks will play a vital role in raising awareness about insurance in rural areas.
      • Assistance in Processes:
        • They will assist in filling out proposal forms, facilitating the Know Your Customer (KYC) process for customers, issuing insurance policies, coordinating and supporting policy and claims-related services, and providing assistance in claims settlements.

About Insurance Regulatory and Development Authority of India (IRDAI)

  • The Insurance Regulatory and Development Authority of India (IRDAI) is the regulatory body responsible for overseeing and regulating the insurance industry in India.
  • IRDAI was established on April 19, 2000, as an autonomous and statutory body under the Insurance Regulatory and Development Authority Act, 1999.
  • Objective:
    • The primary objective of IRDAI is to protect the interests of policyholders, promote the growth and development of the insurance industry, and ensure the financial stability and soundness of insurance companies in India.
  • Market Oversight:
    • The authority monitors the financial health and performance of insurance companies, conducts inspections and audits, and takes corrective measures when necessary to protect policyholders and maintain the stability of the insurance market.
  • Consumer Protection:
    • IRDAI plays a crucial role in safeguarding the interests of policyholders by ensuring fair treatment, transparency, and ethical practices within the insurance industry.
    • It also handles consumer grievances and complaints.

Sri Lanka to take over as Chair of Indian Ocean Rim Association

(General Studies- Paper II)

Source : TH

The IORA Council of Ministers meeting is scheduled to take place in Colombo on October 11, 2023.

  • It will be attended by Foreign Ministers and senior representatives from several countries, including India, Bangladesh, Mauritius, Iran, Malaysia, and South Africa.
  • Sri Lanka is set to take over as the Chair of the IORA, and this meeting marks a significant diplomatic event.

Key Highlights

  • The Council will focus on various areas of cooperation outlined by the IORA, including Trade and Investment, Maritime Safety and Security, Fisheries Management, Disaster Risk Management, and Blue Economy.
  • Sri Lanka’s Foreign Minister Ali Sabry will chair the Council, succeeding Bangladesh as the current Chair, and will hold this position for the next two years.
  • The Council meeting follows the 25th meeting of the Committee of IORA Senior Officials held on October 9 and 10.

About IORA

  • The Indian Ocean Rim Association (IORA) is an intergovernmental organization of states located in the Indian Ocean region.
  • IORA was officially launched on March 7, 1997, in Mauritius.
    • The idea for the organization had been proposed earlier, in March 1995, during a meeting of representatives from countries in the Indian Ocean region held in Mauritius.
  • IORA has a diverse membership, including countries from different regions bordering the Indian Ocean.
    • Currently, IORA had 23 member states.
    • In addition to member states, IORA also has dialogue partners, which are non-littoral states and organizations that have an interest in the Indian Ocean region.
    • There are 11 dialogue partners.
  • Objectives:
    • The main objectives of IORA include promoting regional economic cooperation, trade, investment, and sustainable development.
    • It aims to strengthen maritime safety and security, facilitate trade and investment, promote academic, scientific, and cultural exchanges, and encourage tourism and people-to-people contacts.
  • The highest decision-making body of IORA is the Council of Ministers, consisting of foreign ministers or equivalent officials from member states.
  • The Secretariat, based in Port Louis, Mauritius, serves as the administrative body of IORA.

In Image: Indian Ocean Rim Association (IORA) member countries.

What is multimodal artificial intelligence?

(General Studies- Paper III)

Source : TH

The next frontier of AI models is expected to be in the realm of multimodal systems, allowing users to interact with AI through various means, including text, images, sounds, and videos.

  • This shift is seen as crucial for AI to mimic the fullness of human cognition, which involves processing information from multiple modalities.

Key Highlights

  • AI Companies in Pursuit
    • Leading AI companies are actively pursuing the development of multimodal AI systems.
    • OpenAI, known for its ChatGPT models, has recently enabled its GPT-3.5 and GPT-4 models to analyze images and communicate about them using text.
    • Additionally, OpenAI is adding speech synthesis capabilities to its mobile apps, enhancing the conversational experience with chatbots.
  • A tech race is underway among AI companies to achieve excellence in multimodal AI.
    • Google, in particular, has been testing its multimodal large language model called Gemini, leveraging its extensive collection of images and videos from its search engine and YouTube platform.
    • This has given Google a competitive edge in the field.
    • OpenAI is actively addressing the challenge posed by Google’s advancements in multimodal AI.
    • The company is aggressively recruiting experts in multimodal AI, offering substantial compensation packages to attract top talent.
    • Additionally, OpenAI is working on a new project named Gobi, which aims to develop a multimodal AI system from the ground up, distinct from its GPT models.
  • How Multimodality Works
    • Multimodal AI systems integrate multiple types of data or modalities, such as text, images, audio, and more, in their training and operation.
    • These systems analyze patterns in data from different modalities to create connections and generate relevant outputs based on user inputs.
    • Examples of Multimodal AI Models
      • OpenAI’s DALL.E is a text-to-image multimodal AI model released in 2021, based on the CLIP model, which connects text and images during training to generate images from text prompts.
      • Whisper, another model by OpenAI, is a multimodal AI model for voice processing, capable of recognizing speech in audio and translating it into text.
    • Applications of Multimodal AI
      • Early multimodal systems combined computer vision and natural language processing for tasks like automatic image caption generation.
      • Meta developed a multimodal system, ImageBind, capable of processing text, visual data, audio, temperature, and movement readings.
      • Future multimodal models may incorporate additional sensory data like touch, smell, and brain signals to provide more immersive experiences.
      • Industries such as autonomous driving, robotics, and medicine benefit from inherently multimodal AI systems.
      • In medicine, multimodal AI can analyze complex datasets, such as CT scans, and provide plain-language interpretations.
      • Speech translation models like Google Translate and Meta’s SeamlessM4T utilize multiple modalities for text-to-speech, speech-to-text, and more.