1) Electoral Bonds Scheme: A 5-judge Constitution Bench remarked that the Electoral Bonds Scheme suffers from “selective anonymity” leading to an “information hole”.
- Donors, instead of investing a big sum to purchase the bond, may aggregate bonds for smaller amounts from different buyers.
- It is easier for the party in power to get that information about donations of opposition parties.
- Electoral bonds are interest-free bearer instruments announced in the 2017 Union Budget.
- State Bank of India is the only bank authorized to sell them
2) Scheme to provide financial assistance to poor prisoners: The Home Ministry tells States to finalize beneficiaries under the Central scheme for underprivileged prisoners.
- It aims at enabling poor prisoners to get out of prison.
- It requires states/UTs to identify eligible prisoners for benefit under the scheme
- The Centre would reimburse fines of up to ₹40,000 for each undertrial and ₹25,000 each for convicts languishing in jail due to financial hardship.
- It is not available for persons accused under the Prevention of Corruption Act, UAPA, NDPS, and other serious offenses
3) Employees’ Provident Fund Organisation (EPFO): EPFO celebrated its 71st Foundation Day.
- It is a statutory body that came into existence under the Employees’ Provident Fund and Miscellaneous Provisions Act, of 1952
- It is under the administrative control of the Ministry of Labour and Employment.
- It administers the mandatory provident fund, a basic pension scheme, and a disability/death insurance scheme.
- It is one of the world’s largest Social Security organizations in terms of clientele and the volume of financial transactions undertaken by it.
4) Global Conference on Cooperation in Enforcement Matters (GCCEM): The inaugural GCCEM organized by the Directorate of Revenue Intelligence (DRI) recently concluded in New Delhi.
- The session focused on narcotics, the linkage between money laundering and cross-border smuggling of contrabands including precious metals and gems, etc.
- The session reinforces the cooperation among the Customs administrations, International organizations, and Law Enforcement Agencies in the fight against cross-border crimes.
- DRI is the apex anti-smuggling agency of India, working under the Central Board of Indirect Taxes & Customs, Ministry of Finance
Places in News:
1) Bolivia (Capital: La Paz, Sucre):
- Bolivia severs diplomatic ties with Israel over disproportionate attack on Gaza.
- Political Boundaries:
- It is a landlocked country in South America.
- Bounded by Brazil, Paraguay, Argentina, Chile and Peru.
- Geographical features:
- One-third of its territory lies in the Andes mountains.
- Highest point: Mount Sajama
- Rivers: Madeira, Paraguay and Mamoré
- Lake: Lake titicaca is the largest freshwater lake in South America and the highest of the world’s large lakes.
