PIB Analysis : 27th & 28th June 2020

PIB Analysis for UPSC CSE

  1. Banking Regulation (Amendment) Ordinance, 2020
  2. Statistics Day
  3. Facts for PrelimsSankalp Parva, Tribes India

1 . Banking Regulation (Amendment) Ordinance, 2020

Context : In pursuance of the commitment to ensure safety of depositors across banks, the President has promulgated the Banking Regulation (Amendment) Ordinance, 2020.

About the Ordinance

  • The Ordinance amends the Banking Regulation Act, 1949 as applicable to Cooperative Banks.
  • The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring professionalism and enabling their access to capital.
  • The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws. The amendments do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the word “bank” or “banker” or “banking” and do not act as drawees of cheques.
  • The Ordinance also amends Section 45 of the Banking Regulation Act, to enable making of a scheme of reconstruction or amalgamation of a banking company for protecting the interest of the public, depositors and the banking system and for securing its proper management, even without making an order of moratorium, so as to avoid disruption of the financial system.

Topic Comprehensively covered under Daily Current Affairs 25th June

2 . Statistics Day

Context : The Government has been celebrating the Statistics Day, to popularise the use of Statistics in everyday life and sensitise the public as to how Statistics helps in shaping and framing policies.

About Statistics Day

  • It has been designated as one of the Special Days to be celebrated at the national level and is celebrated on the birth anniversary of Prof. P C Mahalanobis, on 29thJune, in recognition of his invaluable contribution in establishing the National Statistical System.
  • Every year, Statistics Day is celebrated with a theme of current national importance, which runs for a year by way of several workshops and seminars, aimed at bringing about improvements in the selected area. The theme of Statistics Day, 2019 was “Sustainable Development Goals (SDGs)” and carrying this forward the theme of Statistics Day, 2020 is selected as SDG- 3 (Ensure healthy lives and promote well-being for all at all ages) & SDG- 5 (Achieve gender equality and empower all women and girls). 
  • In 2019, the Ministry instituted a new award, namely, the Prof. P.C. Mahalanobis National Award in Official Statistics for recognizing outstanding achievement of official statisticians in Central Government, State Governments and Institutions.
  • The Ministry recognises the outstanding contribution for high quality research work in the field of applied and theoretical statistics benefitting the official statistical system through the Prof. C. R. Rao and Prof. P. V. Sukhatme awards, awarded in alternate years.

Contribution of P C Mahalanobis

  • He founded the Indian Statistical Institute and was one of the main members of the first Planning Commission of India. In his capacity at the commission, Mahalanobis can easily be called a pioneer who brought the concept of planned governance to India.
  • He is remembered for devising the Mahalanobis distance, the introduction of the concept of pilot surveys and for designing large-scale sample surveys.
  • He served as a secretary to Rabindranath Tagore and was also associated with Visva-Bharati University. Mahalanobis was awarded the Padma Vibhushan (1968), Weldon Memorial Prize from the University of Oxford (1944); Fellow of the Royal Society, London (1945).

3 . Facts for Prelims

Sankalp Parva

  • 2-week long tree plantation campaign by Ministry of Culture is called as Sankalp Parva

Tribes India

  • TRIBES India is the brand under which the sourced handcrafted products from the tribal people are sold.

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