15thBRICS Summit: The 15th BRICS Summit is being hosted by South Africa. Theme – BRICS in Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism. A major item on the agenda is on the expansion of BRICS. More than 40 countries have shown an interest in joining BRICS, and around 23 countries have applied formally for membership. Of these, consensus appears to be developing around four countries: Argentina, Saudi Arabia, the UAE and Iran.
Significance:First in-person summit since 2019 and the COVID-19 pandemic.First in-person meeting since the Russian invasion of Ukraine in 2022.It will be of importance as the U.S. and EU still hope to try and isolate Russia over the conflict.
India:This will be the first in-person summit since the military standoff with China at the Line of Actual Control began in 2020.Also, India wants more cooperation from China and Russia that are blocking discussions on a common language for the Leader’s declaration to be released at the G20 summit.
Advisory Board on Banking and Financial Frauds: It conducts the first level examination of bank frauds before recommendations or references are made to investigate by agencies such as the CBI. It consists of the Chairman and four other members, and the tenure of the Chairman/ Members would be for two years. It has been empowered to examine the role of officials/whole-time directors in public sector banks, public sector insurance companies, and public sector financial institutions in case of frauds amounting to ₹ 3 crore and above. The CVC amd CBI can also refer any case or technical matter to the board for its advice, the order stated. The board can also give inputs for policy formulation related to fraud to the RBI and CVC. It will ordinarily, within a month of receipt of the initial reference, tender its advice as may be requisitioned by ministries, departments, the CVC and CBI.
Dibang Multipurpose Project: It is a flood control and hydroelectric power project planned to be developed on the Dibang River, a tributary of the Brahmaputra River, in Arunachal Pradesh.At 2,880 MW of installed capacity, it will be the country’s biggest hydropower facility.It is being developed by India’s state-run National Hydroelectric Power Corporation (NHPC).The project envisages the construction of a 278m-high and 375m-long concrete gravity dam, which will be the highest dam structure in the country. It includes six horseshoe-shaped head race tunnels of length ,an underground Power House, and six horseshoe-shaped tail race tunnels.
Indian Council of Social Science Research: It was established in the year of 1969 by the Government of India to promote research in social sciences in the country on the recommendation of Prof. V. K. R. V. Rao Committee. It is an autonomous organization funded by the Ministry of Education. It provides grants for projects, fellowships, international collaboration, capacity building, surveys, publications etc., to promote research in social sciences in India.
The Council aims to:
- Review the progress of social science research and give advice to its users;
- Sponsor social science research programmes and projects and administer grants to institutions and individuals for research in social sciences.