1) Crypto-Assets Reporting Framework (CARF): OECD has given final shape to CARF. It will enable the cross-border report and exchange of information regarding crypto assets.
- Entities or individuals providing services in crypto assets will be obliged to report under CARF. It will create a level playing field among countries regarding the use and investments of crypto assets.
- The CARF will target any digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions.
- In 2021, the G20 mandated the OECD to develop a framework providing for the automatic exchange of tax-relevant information on Crypto-Assets.
2) Automatic Exchange Of Information: The guidelines and parameters for the AEOI are set by OECD
- AEOI allows every country to obtain data from Financial Institutions (FIs) and “automatically” exchange it with countries with which AEOI agreements are in order, every year.
- The information exchanged relates to individuals, corporate (shell companies) and trusts.
- The information received under the annual exercise of AEOI, is used extensively in probes of suspected tax evasion, money laundering and terror funding.
- Under the OECD’s guidelines, no details of the quantum of funds or the names of account holders are to be publicised.
- In India, the information received is kept in the custody of and for action by the Central Board of Direct Taxes (CBDT).
3) Kurds: The Kurds are members of a large, predominantly Muslim ethnic group and live mostly in a mountainous region straddling the borders of Armenia, Iraq, Iran, Syria and Turkey.
- After World War I, Western powers promised Kurds their own homeland in the agreement known as the Treaty of Sèvres. But later the Treaty of Lausanne, ratified in 1924, divided the Kurds among the new nations of the Middle East.
- Today, there are more than 30 million Kurds living across the region, with about half of them in Turkey.
- Iraq is the only country in the region to have established an autonomous Kurdish region, known as Iraqi Kurdistan. Its parliament was founded in 1992.
4) 5+1 collegium: In the two-year tenure of Justice Chandrachud as CJI, a potential CJI candidate (Justice Khanna) is unlikely to be in the collegium until May 2023. So, Justice Khanna will be the sixth member of the collegium from November 9, 2022 itself. This was also done in 2007.
- The ruling in the Third Judges Case gave legal backing to the current system of appointment of judges and created the collegium of the CJI and four senior-most judges.Generally, one or more of the four senior judges in the collegium would be a potential CJI candidate.
5) Non-traditional livelihoods included in ‘Beti Bachao Beti Padhao’ scheme: New aims in the scheme: Secondary education: Ensuring a 1% increment in enrolment at the secondary level, particularly in STEM (Science, Technology, Engineering, Mathematics) subjects, Skilling: girls and women every year, Raising awareness: about safe menstrual hygiene, Promulgating elimination of child marriages.
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