Day: July 30, 2021

Google CEO Sundar Pichai’s view on former Amazon CEO Jeff Bezos flying into space

Google’s CEO Sundar Pichai admitted that he was “jealous” of the Blue Origin and Amazon founder Jeff Bezos for his July 20 space flight that would launch him, and his brother, Mark Bezos, into the edge of the space. Bezos is expected to fly approximately 100 kilometres or 328,000 feet to the Kármán Line on New Shepard on the day that marks NASA’s Apollo moon landing anniversary.



Speaking about Bezos’ 11-minute trip to space, Google’s CEO Pichai told BBC in a televised interview, “Well, I’m jealous, a bit,” adding that he would love to look at Earth from space. He then went on to describe his views on AI, saying that it is the most profound technology that humanity has developed.

Google CEO sundar Pichai

the interview, Pichai talked about a varied range of things. When asked when was the last time he cried, he said: “Seeing the morgue trucks parked around the world during COVID. And seeing what’s happened in India over the past month.”

Meanwhile, British billionaire Richard Branson on last Sunday soared more than 50 miles above the New Mexico desert aboard his Virgin Galactic rocket plane and safely returned in the vehicle’s first fully crewed test flight to space, a symbolic milestone for a venture he started 17 years ago.

Founder of virgin group mr Richard Branson.

launch of the VSS Unity passenger rocket plane marked the company’s 22nd test flight of its SpaceShipTwo system, and its fourth crewed mission beyond Earth’s atmosphere. It was also the first to carry a full complement of space travelers – two pilots and four “mission specialists,” Branson among them.Heralding a new space tourism era, Branson reached space with three employees, including one of Indian-origin, leaving Jeff Bezos to follow his route on July 20. Bezos has been planning to fly aboard his own suborbital rocketship, the New Shepard, later this month.

Technology
Google
Sapcetravel
Amazon

High Court

Every High Court consisted of a Chief Justice and such other Judges as the President may from time to time deemed necessary to appoint. Thus the Constitution does not specify the strength of a High Court and leaves it to the direction of the President. Accordingly, the President determines the strength of a High Court from time to time depending upon the workload.

The Constitution of India provides a High Court for every state, but the 7th Amendment Act 1956 authorized the Parliament to establish a common High Court for two or more states or a state and a union territory.

The territorial jurisdiction of a high court is co-terminus with the territory of a state. There are 25 High Courts in India as of 2019.

Appointment of Judges:-

• Under Article 217, the judges of the High Court are appointed by the President.

• The Chief Justice of the High Court is appointed by the President after consultation with the Chief Justice of Supreme Court and the Governor of the concerned state.

Qualification of Judges:- One should be a:

• citizen of India.

• have held a judicial office in the territory of India for 10 years; or

• have been an advocate of a High Court for 10 years.

Tenure:- Holds Office until he attains the age of 62 years.

Removal:-

• He can resign his office by writing in his hand to the President.

• He can be removed from his office at the recommendation of the President.

• He vacates his office when he is appointed as a judge of the Supreme Court or when he is transferred to another High Court.

Salaries and Allowances:-

• Determined by Parliament from time to time.

Independence of High Court:- Following provisions are made to safeguard and ensure the independence of the High Court:

• Mode of Appointment

• Security of tenure

• Fixed service conditions

• Expenses charged on the consolidated fund of state

• Conduct of judges cannot be discussed

• Power to punish for its contempt

• Freedom of appointment of his staff

• Its jurisdiction cannot be curtailed

• Separate from executive

Jurisdiction and Powers of High Court:- At present, a High Court enjoys the following is the jurisdiction and powers:

• Original Jurisdiction

• Writ Jurisdiction(Article 226)

• Appellate Jurisdiction

• Supervisory Jurisdiction

• Control over Subordinate courts

• A court of record

• Powers of Judicial review

The Supreme Court can issue a writ jurisdiction, only where a fundamental right has been infringed. High Court can issue these writs under Article 226 not only in such cases but also where an ordinary legal right has been infringed. High Court does not have advisory powers as in the case of the Supreme Court.

Appointment of District Judges:- The appointment, posting, and promotion of a district judge in a state are made by the Governor of the concerned state in consultation with the High Court.

A person to be appointed as District judge should have the following:

• He should not already be in the service of the Union or the State Government.

• He should have been an advocate pleader for 7 years

• He should be recommended by the High Court.

SHAKESPEAREAN ROMANCES

The plays of Shakespeare’s final period (1608-12) are called Romances. In Shakespeare’s own time they were simply classified as tragedies and comedies. Shakespeare must have written his tragedy and comedy plays under the influence of his younger contemporaries. Beaumont and Fletcher were very popular. The masques at the court of James I also must have influenced Shakespeare. Shakespeare’s romances are in fact, neither tragedies nor comedies but are a mixture of both.

Dowden has pointed out that the last plays of Shakespeare reveal society, serenity, and sanity as contrasted with the storm and strain of the tragedies. They supplement the tragedies with their more relaxed atmosphere and are marked by great forbearance, sense of reconciliation and forgiveness. However, Lytton Strachey thinks that these plays express a mood of boredom rather than serenity.

The romances of Shakespeare have certain common characteristics. They have motifs common in romance literature such as improbable happenings, separation, wanderings, reunion and reconciliation. They contain several elements of the tragi-comedies made popular by Beaumont and Fletcher. There are only a few memorable than heroes. In these plays Shakespeare has returned to his lyrical style of the earlier plays.

CHIEF CHARACTERISTICS:

1. The scene of these plays is unknown, remote and the setting is imagery. Cymbeline is set in early Britain and the setting of the Tempest is somewhere in the Mediterranean.

2. The happenings are fanciful. There is no logical cause and effect relationship. In the light of reason, the events appear absurd the feats of magic in The Tempest, the concealment of Hermione for sixteen years in The Winter’s tale and the abduction of two sons of Cymbeline would appear unnatural. But in Shakespeare’s world of imagination these events are delightful.

3. The romances are full of anarchronisms, long lapses of time (as in The Winter’s Tale), wizardry and fantastic voyages (as in The Tempest). These become part of the apparatus of the play.

4. Characters are types. They do not have marked personalities of the characters in the great comedies or tragedies. However, heroines are most memorable than heroes. Miranda, Perdita, and Imogen are lovely but weak. Villains like Iachimo in Cymbeline and Leontes in The Winter’s Tale are not hardened Villains. Even Ferdinand in The Tempest is no match for Benedick or Orlando.

5. Pastoral scenes are a part of the romances. In The Winter’s Tale, Florizel and Perdita are a part of pastoral life.

6. The supernatural element is predominant in the romances. The Tempest and Cymbeline are examples. The Tempest also shows Prospero’s magic and the elusive character Ariel. In The Winter’s Tale the Delphic Oracle is introduced and in Pericles the King’s Wife Thaisa becomes a priestess in the temple of Diana.

7. In the romances sea is dominant. There is shipwreck in Pericles and The Tempest. Sea voyage are mentioned in all of them. Sea is a symbol of regeneration.

8. The romances show breakdown of family relationships, separation of family members and their eventual reunion and restoration. In the opening of each play a father looses the offspring through his own folly and at the end the child is restored. This recovery of lost children is a part of the romances. In The Winter’s Tale, Perdita is restored to King Leontes; in Cymbeline the two sons of the king is restored; in The Tempest Fredinand is restored to his father and in Pericles, Marina is restored to her father, the King.

9. The romances are marked by a spirit of reconciliation and forgiveness. In The Tempest, Prospero’s forgives his wicked brother Antonio; in Cymbeline Posthumous reconciles with Imogen and in The Winter’s Tale, Leontes reconciles with Hermione.

10. In the romances there is an assumption that the events in the world of the play are subject to forces other than normal. There is a sense of magical reason of the errors of action. This assumption helps to enhance the dramatic situation and keeps the audience aware of the mystery of human personality.

A critic has called the romances ‘divine comedies’ because the divine grace imposes its beneficent will on the humans. The romances are ethical and spiritual and are the creations of an older and more sober Shakespeare. As Dowden has pointed out, the one word that interprets Shakespeare’s last plays is ‘reconciliation’, a word ‘over all, beautiful as the sky’.

SELF CONFIDENCE

 

Self-confidence means trusting in your own
judgment, capacities and abilities. It’s about valuing yourself and feeling
worthy, regardless of any imperfections or what others may believe about you.
Self
Confidence is the key to success, or we can say the first step to success. If a
person has self-confidence, he has won half the battle. Those people who have
self-confidence at work, school, and in their daily life always appear on top
of world. Everything seems to go right for these people and they always seem to
present themselves as calm, collected and successful in everything they do.

If you pay attention, you might notice
that these self-confident people usually are successful in every area of their
lives. Is this because they are smarter? Or is it because they have more money?
Maybe they are just lucky? The reality is that none of these things are true.
Self-confident people understand the impact of believing in themselves and
relying on their abilities. Self-confidence is
something that gives you a sense of self-belief and self-assurance and
consequently makes you strong and happy. It boosts up your power and ability to
do things that might fear you and lets you down. Self-confidence is a quality
that comes from within, it’s your inner voice and reflection of what you think
about yourself. It refers to the state of mind where a person pushes their
boundaries and encourages belief within oneself. It is something which comes
from self-love. In order to have confidence in yourself, one must love oneself
to get freedom from constant doubt.

People in school and workplaces achieve
success by taking more initiatives and being more forward and active in life.
Moreover, they tend to make better decisions because of having confidence in
oneself. Thus, it makes them stand out of the
crowd. When you stand apart, people will definitely notice you. Thus, it
increases your chances of attaining success in life. Alternatively, if there is
a person who does not trust or believe in himself, it will be tough. Self-confident
people are always cherished and optimistic towards their work as they always
have a positive attitude. Those who are self-confident are more focused on
success than thinking about the failures as they have enough ability to express
themselves in society. Self-confident people can turntable
towards them by expressing themselves. Those who lack self-confidence finds it
hard in today’s modern world to express themselves, and hence they have to
struggle for success in life as they do not know how to put their words in
front of people. They may fear people around them or fear their expressions and
many other negative things in their minds.

Setting realistic goals is a good practice
to boost self-confidence. We should not set our goals too high or too low as
both can affect your self-confidence badly. Too high goals make one
under-confident as she/he may not be able to achieve and the too low goals can
make one overconfident as one can achieve it easily.

Therefore, self-confidence is essential to
stay happy and achieve success in life. You must learn ways and techniques to
become confident so that you could face any challenges in life and keep going
without looking back.

Sevilla want €80m deal for Chelsea target Kounde amid talk of Zouma part-exchange

Sevilla are looking for a deal worth around €80 million (£68m/$95m) if an agreement is to be reached that allows Chelsea target Jules Kounde to leave Estadio Ramon Sanchez Pizjuan, Goal has learned.

Goal was able to confirm on Tuesday that Premier League heavyweights from Stamford Bridge have entered into talks for a France international defender.

Kounde is open to the idea of taking on a new challenge in England, but a transfer will only be sanctioned if the terms are right for his current club.

The Liga outfit are reluctant to part with the France international defender for any less than his full market value

Is Chocolate a Compulsive Consumption?

The popular saying goes, “nine out of 10 people enjoy chocolate, and the tenth person always lies.” This is accurate since who doesn’t like chocolate?

For hundreds of years, people have loved chocolate and other sweets. And now it is consumed in a variety of ways and is probably one of the most popular meals, so you might be curious if it’s addictive.

So, can you become a chocoholic? Let’s explore the answer in this article. Distinct varieties of chocolate have different components, however they all share a few important ones. Some of these could be linked to chocolate’s risk for addiction. The main ingredients are cocoa mass, cocoa butter, sugar, milk, vanilla and other products can be used to help preserve chocolates and maintain a creamy consistency. Cocoa butter offers many benefits, but it’s also heavy in fat. This contributes to chocolate’s addictive potential, especially when paired with the high sugar content in some types. Some experts also doubt that food additives play a role in compulsive eating. Flavorings and artificial sweeteners are frequently used in highly processed and extremely appealing goods like chocolate. 

Also, just like addictive medications such as drugs, scientifically, exceptionally delicious foods like chocolates have been shown to trigger the release of dopamine, a neurotransmitter linked to pleasure, in the reward circuit in a brain area. After a time, merely thinking about these enjoyable things triggers the reward circuit. Your brain tends to crave these feel-good substances once you start connecting them with positive feelings. This kind of relationship can be made with lots of different foods but Scientists have identified several properties in chocolate that are particularly tempting. This might just be due to the fact that chocolate is generally high in sugar and fat as stated above, but according to one new study, it could be due to its interaction with a chemical called enkephalin, which is found in our brain and appears similar to endorphins, and may be the source of our addiction. 

Chocolate is frequently represented as a go-to pleasure as well as something we’re expected to feel guilty about, and the image of the hapless chocoholic appears in advertising and the media on a regular basis, typically in good humour. So, at least in part, the sense that we’re going crazy for chocolate originates from outside of our bodies. Furthermore, We’re naturally reward-seeking creature,we had to be to survive long enough to compete in the gene pool. Chocolate and other sugary, high-fat meals are natural rewards, so our brain responds by saying, “get more of that—if you can!” Now, however, we are able to do so. Almost all of the time. Especially in a culture when chocolate comes in all forms and sizes and may even be delivered.

So, eating chocolate that is less processed and lower in sugar and fat,is one approach to avoid the most potentially addicting forms of chocolate. 

Sugar content is reduced in many dark chocolate types. Furthermore, dark types contain the highest concentration of antioxidants and other beneficial elements. So, choosing dark kinds with less sugar and fat may be a healthier way to enjoy this delicacy.

Therefore, Chocolate is similar to medication, but like medicine, the key is moderation. Don’t overdo it. 

Water shortage

Water is the fundamental need of each individual. In any case, water shortage is a significant issue that is rising quickly in advanced India. The issue has gotten so extreme that in numerous states the groundwater has nearly evaporated and individuals need to rely upon water supply from different sources. Also, water is perhaps the most abused items that we actually squander. It is the essential issue of our lives yet not the main issue of our core interest.

Previously, individuals comprehend the worth of water and plan their lives around it. In addition, numerous human advancements sprout and lost because of water. Be that as it may, today we have information yet we actually neglect to comprehend the worth of water.

Justification Water Shortage in India

Water shortage is the reason for fumble and abundance populace development of the water assets. Similarly, it is a man-made issue that rising. Plus, a portion of the purposes behind water shortage are:

Inefficient utilization of water for Farming India is one of the significant food producers on the planet. That produces huge loads of amount of food to take care of its populace and fare the excess that is left.

Also, creating this much food requires a great deal of water as well. The conventional strategy for water system squanders a great deal of water because of dissipation, water transport, waste, permeation, and the abuse of groundwater. In addition, a large portion of the spaces in India utilize conventional water system methods that pressure the accessibility of water.

In any case, the answer for this issue lies in the broad water system procedures, for example, miniature water system in which we give water to plants and yields utilizing a sprinkler or trickle water system.

Decrease in water re-energize frameworks

Because of fast development that utilizations cement and marbles don’t let the water to get retained in the dirt. In any case, in the event that we introduce some system in our homes that can hold the water then we can re-energize the groundwater.

Absence of water the board and circulation

There is a requirement for an effective framework that can oversee and disperse the water in metropolitan regions. Additionally, the public authority needs to upgrade its innovation and interest in water treatment. In addition, we ought to guarantee improvement at the arranging level.

Answers for Defeat this Issue

Sans water urinal-Urinal squander around 6 litres of water for every flush that amount to 25 thousand litres each year. In the event that a male individual from the house quits utilizing the flush, they can save heaps of water.

Close the running tap

-During dishwashing and hand washing individuals frequently let the tap running. These running taps squander a great many litres of water each year. Also, shutting the tap will decrease this issue.

Supplant trickling taps-In India it is ordinarily seen that the vast majority of the houses have a couple of taps that drop water in any event, when they are close. This running tap squanders up to 30,000 litres of water that no one tries to change. In this way, we ought to supplant these taps right away.

To close, water shortage has become a more perilous issue step by step. Likewise, because of our mercy that we haven’t treated the issue water shortage in a serious way. Yet, presently the specialists and individuals are attempting to determine this issue with the goal that our people in the future don’t need to purchase this need.

Role of IBC in the credit sector

 

                                                                (Photo: SignalX)
As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalized and well – regulated. Credit, market and liquidity risk studies suggest that Indian banks are generally resilient and have withstood the global downturn well. The Indian economy is a mixed economy. It is known to be the world’s sixth largest in terms of nominal GDP. The legal environment plays a vital role in the economic development of a country.

After GST, IBC is the second most crucial reform in the legal setting of India. It was implemented through an act of Parliament. The law was necessitated due to huge pile up of non-performing loans of banks and delay in debt resolution. Insolvency resolution in India took 4.3 years on an average against other countries such as U.K (1 year) and U.S.A (1.5 years), which is sought to be reduced besides facilitating the resolution of big-ticket loan accounts. Two years on the IBC has succeeded in a large measure in preventing corporates from defaulting on their loans. The IBC process has changed the debtor-creditor relationship. A number of major cases have been resolved in two years, while some others are in advanced stages of resolution. 

With a strict 180+90 days ‘resolve-or-liquidate’ diktat, the Code has received commendation, not only from the Indian Industry, but from the global fraternity, including The World Bank and IMF, and has materially contributed to India’s 30 place jump in 2018’s Ease of Doing Business ranking. IBC truly enforces the concept of ‘creditor in control’ instead of ‘debtor in possession’, and maximize value recovery potential corporate debtors.  “Capitalism without Bankruptcy is like Catholicism without Hell,” said Frank Borman, renowned astronaut and erstwhile chairman of a failed US airline. As such, the institutions established by the state should promote freedom to start a business (entry), to run the business (level playing field) and to exit/discontinue the business. The reforms of the 1990s focused on freedom of entry (dismantling the license-quota raj) and then, from the beginning of this century, the focus shifted to freedom of continuing business. The third leg, which is freedom to exit, has now been provided in the shape of the IBC, to provide a mechanism to stressed businesses to resolve insolvency in an orderly manner.

The IBC seeks to consolidate scattered and unstructured jurisprudence on insolvency prevalent in various Acts, like the Presidency Towns Insolvency Act, 1909, Sick Industrial Companies Act, 1985, Limited Liability Partnership Act, 2008, Companies Act, 2013, etc. On the positive side, we have witnessed that debtors were reconciling with the ‘creditor in control’ scenario, with the committee of creditors (CoC) becoming all- powerful in the resolution process.

It was the first time that the government and Reserve Bank of India were on the same page for effective resolution of the problem of bad debt and improving overall financial discipline in the way business is conducted in India. As Nelson Mandela said, “I never lose; I either win or I learn.” The jury is still out on the IBC even though the World Bank has acknowledged the efforts.

WHAT IS INSOLVENCY AND BANKRUPTCY CODE, 2016?

“In One line we can say that in case of a default by the equity owners to meet their debt obligations, control is transferred to the creditors and equity owners take a back seat.”

The insolvency and Bankruptcy code, 2016 (IBC) is the bankruptcy law in India and whose aim is to consolidate the existing framework by creating a single law for insolvency and bankruptcy and amend the laws relating to the entities in India with the time being enforce. The consolidation of laws in India is not a new concept like GST was framed by consolidating 17 laws into one. This code was introduced in Lok Sabha in December 2015. It was passes by Lok Sabha on 5 May 2016. 

The purpose of this act can be divided into the following two goals:

 1. Making sure that the insolvency proceedings can be completed within a minimum amount of time.

 2. Making sure that the financial risks to the foreign investors is decreased.
Its primary goal was to consolidate insolvency resolution process for LLPs. Companies, individuals and partnerships.
 That being said, the purposes of these codes, being a part of The Companies (Amendment) Act 2017, are the following:

 1.  Establishing and amending the laws associated with reorganizing and resolving the insolvency of entities like partnership firms, individuals and corporate persons.

 2.  Providing resolution in a time bound manner.

3.  Promoting entrepreneurship in India.

4.  Maximizing the availability of credit in the Indian market.

5.  Establishing Insolvency and Bankruptcy Board in India.

The four pillars of supporting institutional infrastructure, to make the Insolvency and Bankruptcy Process work efficiently are:

  1. The regulator – The Insolvency and Bankruptcy Board of India (IBBI)
  2. Adjudicating Authority (AA):
    1. National Company Law Tribunal (NCLT) – For Corporate, i.e., Companies and Limited Liability Partnerships
    2. National Company Law Appellate Tribunal (NCLAT) will act as Appellate Authority.
    3. Debt Recovery Tribunal (DRT) – For Individuals and Unlimited Partnership Firms
  3. A private industry of Insolvency Professionals (IPs) with oversight by private Insolvency Professional Agencies (IPAs)
  4. A private industry of Information Utilities (Ius)

THE ROUTE TO THE IBC

The main objective of the act is to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.

IBC provides for a time-bound process to resolve insolvency. When a default in repayment occurs, creditors gain control over debtor’s assets and must make decisions to resolve insolvency. When a default in repayment occurs, creditors gain control over debtor’s assets and must make decisions to resolve insolvency. Under IBC, debtor and creditor both can start ‘recovery’proceedings against each other.

 

It is a comprehensive Code enacted as the Preamble states, to

“consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto”.

The Preamble clearly states that the legislative intent to incorporate this code is

Firstly, to remove the ambiguity that had been prevailing in the previous legislations;

Secondly, to prevent unnecessary delays and to ensure fast dismissal of matters, i.e., within 180 days;

Thirdly, to prevent loss to corporate creditors due to depreciation of assets of the insolvent company;

Fourthly, to establish a balance among the interests of the various stakeholders, and

Lastly, to create a common forum to deal with such matters.

IMPACT OF IBC

The Covid-19 pandemic has been driving corporate failures around the world, including in India. The global financial news reveals an increase in bankruptcies due to the Covid-19 induced global lockdowns. While the bankruptcies are unfortunate, a recognition of the bankruptcies facing companies in the face of the collapse and an efficient resolution of such bankruptcies (which will allow both the companies and creditors involved to move along) is vital to rejuvenating the economy.

 In the light of the Covid-19 pandemic and business failures globally, it is important that financially distressed companies can still access the credit market thanks to a strong bankruptcy system and survive under stressed scenarios. Using a panel of 33,845 non-financial firms for the period of 2008-19 and by exploiting a difference-in-differences analysis, a study has been undertaken revealing the impact of the IBC policy on the availability of long- and short-term financing for, and the cost of, credit of distressed firms as compared to their non-distressed counterparts. As in most emerging markets, India’s debt market is dominated by state-owned banks and the domestic credit to private sector by banks (percentage of GDP) is 50 per cent in 2019 compared to a world average of 90.5 per cent (Source: World Development Indicators). Recent statistics from World Bank’s Doing Business Data show the creditor rights index in India improving from 6 in 2014 to 9 in 2019 compared to the world average of 5.67 in 2019.

Bose et al. (2021) study shows that after the introduction of the IBC reform, the access to long-term debt increased by 6.3 per cent, short-term debt increased by 1.4 per cent, while the cost of borrowing declined for distressed firms. This is the first study that provides evidence on the impact of the IBC policy on the “credit channels” of distressed firms. The enactment of the code has helped to enforce discipline in the country’s credit culture. IBC has created a credit culture that discourages defaults. There has been a change in the business culture as well: there is now an understanding that when things go wrong, companies will not get an automatic rescue package from the taxpayer funds. The objective of IBC was to create conditions so that credit could be generated from the domestic market and investments drawn from the international market. In order to achieve those objectives, it was necessary to create a culture of deterrence against default. The practice of dragging lenders to court to delay the repayments of outstanding loans is slowly coming to an end. India’s Insolvency and Bankruptcy Code is ensuring that lenders get repaid on time and this is making India a more attractive investment destination.

IBC has played a great role in macroeconomic objectives providing India a strong stand in the global platform. After the enactment of the code, the FDI has substantially increased. In 2012-13, the FDI of India was 34298 US$ Million and just after enactment of the code it rose to 61463 US$ Million in 2017-18 which is growing by approximately 80%. There has been an increase in Mergers and Acquisitions activity in the country. It also led to the establishment of Information Utilities (IUs) which further accelerated the development of the credit market of India.

In previous, no law prevented the operational creditors but under the code, there is a provision that the operational creditors (domestic as well as international) have right to file suit against the default. Thus, the code provides right to the foreign creditors which will enhance the economic transactions of India and others.

 MEASURES TAKEN DUE TO COVID

The global COVID-19 pandemic and its consequential lockdown are having an economic ripple effect on the business of Indian citizens. To mitigate its impact, in the last tranche of economic reforms, the Central Government made numerous changes upon the Insolvency and Bankruptcy Code, 2016 (“IBC”), and its adjudicatory processes, which will have wide-ranging ramifications. In exercise of its powers under Section 4 of the IBC, the Central Government has raised the threshold for invoking insolvency to Rs 1 crore from the existing Rs 1 lakh. This provision will relegate MSMEs to civil remedies for debt recovery and may have an effect of excluding it under the IBC. At this cost, the amendment may have successfully addressed the issue of frivolous recovery claims initiated under the grab of insolvency processes due to the seemingly low original threshold of rupees one lakh.

The government has come up with IBC 2020 to streamline the CIRP, protect last-mile funding, and boost investment in financially distressed sectors. The changes put a threshold condition for initiating CIRP by the financial creditors, who are allottees under a real estate project. It also imports safeguards for successful bidders, the corporate debtors, and its assets from the offenses of the former promoters or management.

India took decades to implement such an effective insolvency regime and improve its global ranking of doing business. It promotes entrepreneurship and tries to balance the interest of the various stakeholders.

CONCLUSION

Resolving insolvency in a strict time bound manner is an important challenge for any country to maintain a healthy and robust economic system. This study has made an attempt to understand and analyze the impact of the IBC on the credit sector of the economy. The study emphasizes the fact that IBC is a big step in the direction of resolving the issues of Non-Performing Assets and hence will act to the rescue of banks which have been facing a lot of difficulties due to corporate defaults. The number of companies that have benefitted from this law is large, there has been improvement in the speed as well as the success rate of the resolution process.

There is still a long way to go ahead and as the saying goes,

“We have to acknowledge the progress we made, but understand that we still have a long way to go. That things are better, but still not good enough.”

3 HARMLESS HABITS THAT MAY CAUSE CANCER

women who keeps their phone close to their chest are prone to skin cancer .

Everybody knows that smoking can cause cancer , you protect yourself from excessive exposure to sun as it may cause skin cancer , but do you know we all have harmless habits that may cause cancer & other health issues . These habits are our regular habits which we not considered , but they can cause Sevier problem to us

3 harmless habits that may cause cancer

  1. Wearing your cell phone in your bra. Devra Davis Ph.D. MPH, President and Founder, Environmental Health Trust, has documented seven cases of young women who have developed cancerous tumors in the center of the breast where they carried their cell phones for 10 years. “These cases all formed with multiple primary tumors in the outlines of where the cell phones lodged. the harmful radiations from your phone can cause breast cancer .

protect yourself :

  • Carry your phone in a phone holster or in your purse.
  • Read cell phone manufacturers’ warnings on the safest way to use and carry the phones.
  • When buying a phone, ask about the Specific Absorption Rate (SAR), which measures the rate of radiofrequency (RF) energy absorption by the body from your cell phone. The FCC has adopted limits for safe exposure to RF energy from cell phones: a SAR level of 1.6 watts per kilogram (1.6 W/kg). 
  • Turn off your cell phone. Even if you are not using it, it is emitting radiation if it’s on.
  • Beware of areas with weak signals. Cell phones are programmed to work harder—emitting more radiation—when signal strength is blocked.
  • If you see reddened skin on your breast that does not go away, get it checked out by your physician.

2. Using talcum powder : Several studies have reported a positive association between use of talcum powder on women’s perineal area (from the anus to the vulva) and ovarian cancer risk. A 2010 study published in Cancer Epidemiology, Biomarkers & Prevention found that talcum powder also increases the risk of endometrial cancer, particularly among postmenopausal women. All should avoid talcum powder for parts which it is not meant .

2 . Drinking sugary beverages:

Sodas, sweetened tea, and lemonade—among other foods that have a high glycemic index—increase the risk of endometrial cancer. “When you eat those foods, it causes a spike in blood sugar and insulin. Having continually high amounts of insulin can help create an environment that is conducive to endometrial cancer cells proliferating,” says Bender. In addition, sugary drinks promote obesity, which increases the risk for colorectal, postmenopausal breast, esophageal, endometrial, kidney, pancreatic, gallbladder, and ovarian cancers. These are one time kind of drinks , regular drinking of these artificial sugary drinks causes health issues .

3. Drinking alcohol : Bender reports that alcohol increases the risk for colorectal, breast, esophageal, mouth, pharynx, larynx, and liver cancers. “The idea is that when alcohol metabolizes, it produces a carcinogen in the body,” she says, referring to the byproduct acetaldehyde, which then further metabolizes into acetate, and finally into water and carbon dioxide, which your body eliminates. Alcohol results in increase of body weight , which leads to link between cancer .

State Legislature

There is no uniformity in the creation of State Legislature. Most of the states have unicameral system, only seven states Andhra Pradesh, Bihar, Jammu and Kashmir, Karnataka, Maharashtra, Utar Pradesh, and Telangana are having bicameral system.

Legislative Assembly [Article 170]:- The Legislative Assembly (Vidhan Sabha) consist of not more than 500 members and not less than 60 members. However the Legislative Assembly of Sikkim, Goa, Mizoram, Arunachal Pradesh, Nagaland and Puducherry have less than 60 members.

Legislative Council [Article 171]:- As per Article 169, if the Legislative Assembly passes a resolution for abolition or creating of the Legislative Council by a majority of the total membership of the assembly and by a majority of not less than 2/3rd if the members present and voting, the Parliament may approve the resolution by a simple majority to create or abolish the Legislative Council.

Composition of Legislative Council:- Of the total member of members of a Legislative Council shall consist:

• 1/3rd elected from local bodies

• 1/2th elected by graduates in the states.

• 1/2th elected by teachers of 3 year standing in the state, not lower in standard than secondary school.

• 1/3rd elected by the members of the Legislative Assembly of the state amongst a person who is not a member of the assembly.

• 1/6th are nominated by the Governor from persons of special knowledge, science, art, cooperative movement, and social service.

• 5/6th of the total number of members of the Legislative Council are indirectly elected.

Qualification of members:- Under Article 17, they must fulfill the conditions:

• he must be a citizen of india.

• he must make and subscribe before the person authorized by the Election Commission an oath or affirmation according to the form prescribed in the 3rd Schedule.

• he must be not less than 30 years of age in the case of the Legislative Council and not less than the age of 25 years in the case of the Legislative Assembly.

• he must possess other qualifications prescribed by Parliament, under the Representation of People Act 1951.

Duration of the two House:- Legislative Assembly same as Lok Sabha. And Legislative Council same as of Rajya Sabha.

Presiding Officer of the State Legislature:-

• Speaker/ Deputy Speaker in Legislative Assembly [Article 178].

• Chairman/Deputy Chairman in Legislative Council [Article 182].

Speaker of Legislative Assembly:- Speaker of Assembly is elected by the assembly itself from amongst its members. He can vacate his office earlier in any of the following cases:

• if he ceases to be a member of the assembly;

• if he resigns by writing to be Deputy Speaker; and

• if he is removed by a resolution passed by a majority of all the members of the assembly. Such a resolution can be moved only after providing 14 days of advance notice

Chairman of Legislative Council:- The Chairman is elected by the council itself from amongst its members. The Chairman vacates his office in any of the following cases:

• if he ceases to be a member if the counil.

• if he resigns by writing in his hand to the Deputy Chairman; and

• if he is removed by a resolution passed by a majority of all the members of the coucil.

Powers of the State Legislature:-

• it participates in the election of the President.

• it can remove the Council of Ministers by passing a no- confidence Motion.

• it controls the executive by the various financial committees. It ratified certain Constitutional Amendments, in which participation of half of the State Legislatures is required.

UFO sighting?

А Germаn tоurist reсently reсоrded а videо оf а shiny аnd shарe-shifting оbjeсt in the sky, fueling sрeсulаtiоns аnd соnsрirасy theоries, thаt it might hаve соuld hаve been аn unidentified оbjeсt оr UFО. The tоurist, аllegedly sроtted the bizаrre оbjeсt оut оf his windоw while trаveling оn а рlаne.
Intrigued by it, he filmed the shiny white оbjeсt оn his Nikоn Р900 саmerа аnd сlаimed thаt the susрeсted UFО wаs flying аlоngside fоr seven minutes. He then sent the fооtаge tо рорulаr YоuTube соnsрirасy theоrist knоwn аs Disсlоse Sсreen The Grimreefаr. The videо shоws а white glоwing оbjeсt, аррeаring tо соnstаntly сhаnge shарe аnd flying аt а higher аltitude thаn the аirрlаne.

Grimereefаr shаred the videо sаying, “I’ve gоt this inсredible sighting оn film by а раssenger оn bоаrd аn аirline оf whаt аррeаrs tо be а shарe-shifting оbjeсt. The рlаne’s аltitude is аnywhere between 10,000 аnd 30,000 feet аnd this оbjeсt is filmed оver seven minutes аbоve the аltitude оf the рlаne аnd it seems tо be mоving аlоngside with the рlаne. Рeорle аre gоing tо саll this а UFО, well teсhniсаlly it is, but I’m leаning mоre tоwаrds this being а biоlоgiсаl entity оr а рlаsmа-bаsed life fоrm living in оur uррer аtmоsрhere.
While mаny рeорle were fаsсinаted by the sight, оthers users sаid thаt it соuld hаve been а refleсtiоn оn the windоw glаss оr а weаther bаllооn. Аnоther thоught thаt it соuld be а саmerа thаt wаs zооmed in оn а wаter drорlet just оutside the windоw.

”If you have ever taken pictures through the plastic windows of an airplane you recognise this, ice crystals in the double-glazed windows….. They jump and move around and shift shape in an instant,” one user wrote.

A second one commented, ‘This is light playing in the distortion in the plane’s window. That’s why he can’t focus on it, it’s too close for his lens.”Abother said, ”Beautiful. It’s like looking at the entrance to a tunnel and through the other side we see the Strings of the Universe pulling and pushing the world(s)!”

Space trouble

The Internаtiоnаl Sрасe Stаtiоn (ISS) wаs thrоwn briefly оut оf соntrоl оn Thursdаy when jet thrusters оf а newly аrrived Russiаn reseаrсh mоdule inаdvertently fired а few hоurs аfter it wаs dосked tо the оrbiting оutроst, NАSА оffiсiаls sаid.
The seven сrew members аbоаrd – twо Russiаn соsmоnаuts, three NАSА аstrоnаuts, а Jараnese аstrоnаut аnd а Eurорeаn sрасe аgenсy аstrоnаut frоm Frаnсe – were never in аny immediаte dаnger, ассоrding tо NАSА аnd Russiаn stаte-оwned news аgenсy RIА. But the mаlfunсtiоn рrоmрted NАSА tо роstроne until аt leаst Аug. 3 its рlаnned lаunсh оf Bоeing’s new СST-100 Stаrliner сарsule оn аn unсrewed test flight tо the sрасe stаtiоn. The Stаrliner hаd been set tо blаst оff аtор аn Аtlаs V rосket оn Fridаy frоm the Kennedy Sрасe Сenter in Flоridа.

Thursdаy’s mishар begаn аbоut three hоurs аfter the multiрurроse Nаukа mоdule hаd lаtсhed оntо the sрасe stаtiоn. The mоdule’s jets inexрliсаbly restаrted, саusing the entire stаtiоn tо рitсh оut оf its nоrmаl flight роsitiоn sоme 250 miles аbоve the Eаrth, U.S. sрасe аgenсy оffiсiаls sаid. The “lоss оf аttitudinаl соntrоl” lаsted fоr а little mоre thаn 45 minutes, until flight teаms оn the grоund mаnаged tо restоre the sрасe stаtiоn’s оrientаtiоn by асtivаting thrusters оn аnоther mоdule оf the оrbiting рlаtfоrm, ассоrding tо Jоel Mоntаlbаnо, mаnаger оf NАSА’s sрасe stаtiоn рrоgrаm.

In its brоаdсаst соverаge оf the inсident, RIА сited NАSА sрeсiаlists аt the Jоhnsоn Sрасe Сenter in Hоustоn, Texаs, аs desсribing the struggle tо regаin соntrоl оf the sрасe stаtiоn аs а “tug оf wаr” between the twо mоdules. Аt the height оf the inсident, the stаtiоn wаs рitсhing оut оf аlignment аt the rаte оf аbоut а hаlf а degree рer seсоnd, Mоntаlbаnо sаid hоurs lаter in а NАSА соnferenсe саll with reроrters.

The Nаukа engines were ultimаtely switсhed оff, the sрасe stаtiоn wаs stаbilized аnd its оrientаtiоn wаs restоred tо where it hаd begun, NАSА sаid. Соmmuniсаtiоn with the сrew wаs lоst briefly twiсe during the disruрtiоn, but “there wаs nо immediаte dаnger аt аny time tо the сrew,” Mоntаlbаnо sаid.

Аdrift in the sрасe stаtiоn’s nоrmаl оrientаtiоn wаs first deteсted by аutоmаtiс sensоrs оn the grоund, аnd “the сrew reаlly didn’t feel аny mоvement,” he sаid. Whаt саused the mаlfunсtiоn оf the thrusters оn the Nаukа mоdule, delivered by the Russiаn sрасe аgenсy Rоsсоsmоs, hаs yet tо be determined, NАSА оffiсiаls sаid.

Mоntаlbаnо sаid there wаs nо immediаte sign оf аny dаmаge tо the sрасe stаtiоn. The flight соrreсtiоn mаneuvers used uр mоre рrорellаnt reserves thаn desired, “but nоthing I wоuld wоrry аbоut,” he sаid.

Аfter its lаunсh lаst week frоm Kаzаkhstаn’s Bаikоnur Соsmоdrоme, the mоdule exрerienсed а series оf glitсhes thаt rаised соnсern аbоut whether the dосking рrосedure wоuld gо smооthly. The Nаukа mоdule is designed tо serve аs а reseаrсh lаb, stоrаge unit аnd аirlосk thаt will uрgrаde Russiа’s сараbilities аbоаrd the ISS.

Save a ‘GEOLOGICAL HERITAGE’ Part-2.

Golconda fort.

Development at the cost of nature. Part-2 :

Growth and development are inevitable and necessary to absorb the growing needs of the economy. But the problem lies in the truth that none of this growth is monitored. Giant machines dig the earth out and transport mud to all corners of the city. Ratty trucks with the broken remains of gigantic rocks can be seen ferrying the roads primarily during dusk or night. Most of this quarrying is illegal. Contractors excavate mud and destroy rocks in remote spots often under the dark cover of night for a paltry sum.

Mass destruction of rocks has exacerbated the depletion of green cover. Precious fauna and flora has been destroyed. Loss of these rocks has meant ground water depletion which has further compounded the city’s water woes. Years ago tiny lakes dotted the entire city including the famous Jubilee and Banjara hills localities. Today lakes are found only on the city outskirts in places like Shamirpet. Lakes closer to the city are shrinking every passing year.

Durgam Cheruvu.

Fighting For Conservation :

Though Hyderabad has seen the gradual depletion of rock cover, ecological conservation is an issue that has not found much voice with the population. Most citizens, especially those new to the city, are too busy focusing on seeing a snazzy Hyderabad finding its spot on the global map. But even in this bleak scenario there is a ray of hope for the rocks.

Since 1996, a group of concerned citizens have come together to prevent indiscriminate destruction of the rocks and protect the rocky landscapes. Their organization ‘Society to Save Rocks’ (STSR) has since then been working hard to preserve the rocky ecosystem in the city and state.

Due to their dedicated campaigning, the Government of Andhra Pradesh has added nine rock formations in Regulation No. 13 of the Hyderabad Urban Development Authority (HUDA) for the protection of Heritage Buildings and Precincts. This act of the governments was hailed by conservationists across the country as a great step in recognising the importance of the rocks and the need to protect them. Today Hyderabad is the only city in India where rocks are protected as a natural heritage. Encouraging the government to preserve these rocks by promoting them as tourist attractions i5 an alternative that the Society is pushing for.

Image Source -google.

But despite STSR’s dedicated efforts, the city faces a challenge as much land in and around the city has already been sold off. Durgam Cheruvu, one of the designated heritage sites is the best place where the government’s attempt at conservation and apathy towards rocks, are both visible. Years ago the lake lay hidden between rocky cliffs and was inaccessible. A few years ago it was converted to a model tourist spot with boating and other leisure facilities. But entire stretches of hills on one bank of this protected area have been destroyed in the past decade to accommodate the fast-growing Hi-tech city. Durgam Cheruvu thus epitomises the ongoing conflict between development and protection in the city.

However some individuals have successfully managed to integrate rocks that abut their house into the structure of their homes. The rock forms as much a part of their home’s interior as does their sofa or any other furniture. Some builders and companies too have taken the initiative to include rocks in their building complexes. While they have included a natural rock structure within their building premise, their focus remains on decorative appeal rather than ecological consideration for the rocks.

Over the years, due to the efforts of organizations like the STSR, the rocks of Hyderabad have found a voice. But the din of the construction industry and growing needs of an expanding city are far louder than the voice of these few individuals. What the rocks require are greater public support and a deeper appreciation of their existence. Locals, tourists and governments need to take a pro-active approach to ensure that growth includes preservation of rocks and their eco-systems. After all if a booming economy overtakes billions of years nature, the consequences and blame will have to be borne by none other than the citizens themselves for the only people who stand to gain will in reality be the ones of who lose.

Abhijit Banerjee

Economist Abhijit Banerjee shared the 2019 Nobel Memorial Prize in Economic Sciences with Esther Duflo and Michael Kremer for their experimental approach to alleviating global poverty. Born in 21st February 1961, to both economist parents in Mumbai, Abhijit is currently the Professor of Economics at Massachusetts Institute of Technology. He has also taught at Harvard University and Princeton University.

His work focuses on development economics. Together with his wife, Esther Duflo, he has discussed field experiments as an important methodology to discover causal relationships in economics. They try to measure the effectiveness of actions, such as government programmes, in improving people’s lives. Although polio vaccination is freely available in India, many mothers were not bringing their children for the vaccination drives. Banerjee and Esther Duflo conducted an experiment in Rajasthan, where they gifted a bag of pulses to mothers who vaccinated their children. Soon, the immunization rate went up in the region. In another experiment, they found that learning outcomes improved in schools that were provided with teaching assistants to help students with special needs.

Apart for his research that helped millions of people across the world, he wrote books about economics which are easy to read and understand, enabling even non-economic field readers to quickly grasp the knowledge the books have to offer. Good Economics for Hard Times (2019) looks into how the resources to address issues such as immigration, globalisation, slow economic growth, climate change are already there but we lack the ideas to overcome the divide and distrust that plagues us. In Poor Economics (2011), Abhijit says that by paying attention to evidence, one can not only understand the real causes of poverty but can also assess how to end it. They argue that most charitable organisations want to help the poor but their assumptions are based on generalisations. It looks at how the impoverished make decisions on education, savings, healthcare, food and other issues. Making Aid Work (2007) states that foreign aid can lend a helping hand in reducing poverty. Banerjee says that while billions of dollars flow in to poor countries, they are not used effectiently. Lack of analysis causes considerable waste and inefficiency in this regard. He suggests that donors should conduct randomised controlled trials (RCT) – a method Banerjee and Duflo have mastered.

In 2013, he was named by the United Nations Secretary General Ban Ki-Moon to a panel of experts tasked with updating the Millennium Development Goals after 2015. In 2014, he received the Bernhard-Harms-Prize from the Kiel Institute for the World Economy. In 2019, he delivered Export-Import Bank of India’s 34th Commencement Day Annual Lecture on Redesigning Social Policy. And in the same year, he was awarded the Nobel Prize in Economics, together with Esther Duflo and Michael Kremer, for their work alleviating global poverty.

During the ongoing COVID-19 pandemic, Abhijit Banerjee criticised the government for their poor decision making which resulted in the pandemic reaching the high rates that it is in now. He also said that the healthcare system is built in a way that does not benefit the underprivileged. He expressed his concerns about the pandemic getting worse and how it will affect the world economy in the long term.  

Media and Democracy

 A democratic system is successful only when there is extensive participation by the masses, which is not possible without people getting informed about various issues. Therefore, the media plays a vital role in a healthy democracy.


Press Freedom 

Mahatma Gandhi had said “Freedom of press is a precious privilege that no country can forgo.” In India, freedom of press is implied from the freedom of speech and expression guaranteed under Article 19(1)(a) of the Constitution of India. Article 19(1)(a) says that all citizens shall have the right to freedom of speech and expression. But this right is subject to reasonable restrictions under Article 19(2).

Role of media in a Democracy

Ideally, the media is the voice of the citizens, it is said to be “voice of the voiceless”. A democracy cannot function properly without free press. It acts as a bridge between the government and the citizens. It is the fourth pillar of democracy. It exposes corruption, scandals, maladministration, policy failures and promotes government transparency, accountability, & public scrutiny. 

The Right to Information Act (2005) is vital for the press in India to promote transparency. Press uses RTI as a tool to strengthen democracy and to update the citizens about implementation of the government schemes/policies and expose its loopholes. 

A healthy functioning democracy is established when the voters make informed choices and this is based on the quality of information that they receive. The Press is the main source of news and information. Information disseminated by the Press impacts and shapes the public opinion.

Democracy cannot function without public participation. People have the freedom to express their ideas, opinions, suggestions, and criticism using various media platforms. Public feedback of any policy or law reaches the government through the media. Press acts as a catalyst for democracy and development, making public participation meaningful. Press also provides a platform for public debate.

Citizens can participate in a democracy only when they are fully aware of their rights and duties. Press plays a major role in spreading awareness among the masses about fundamental rights of the citizens ,government schemes, and campaigns . The press has played a significant role in educating the rural masses through newspapers in regional languages , radio, television etc.

Challenges faced by Media in a Democracy

Press Censorship is a major challenge to freedom of press. Press censorship by political authority is an attack on free speech. For example, During the Emergency(1975) Indian media was heavily censored and it was known as the “dark period of democracy.” The Indian Express and The Statesman protested against the censorship by leaving their editorial pages blank.

Paid news hinders unbiased reporting and leads to favouritism. It diverts the coverage of real issues and suppresses information. This produces uninformed or misinformed citizens in a democracy. Corporate and political influence can also stop a particular media organization from functioning freely.  

“A free press is one of the pillars of democracy” said Nelson Mandela. A free and independent press is integral to the process of democratisation and good governance.  Ideally, the purpose of the press in a democracy is to keep in the public spotlight every decision that the government makes.  Press plays its role by reporting/informing, spreading awareness, ensuring accountability of the government, and providing a platform for public debate.