Current Affairs for IAS Exams - 23 July 2021

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SMILE scheme is formulated by Ministry of Social Justice and Empowerment which includes subscheme - ‘Central Sector Scheme for Comprehensive Rehabilitation of persons engaged in the act of Begging’.
This scheme covers several comprehensive measures including welfare measures for persons who are engaged in the act of begging.
Focus of the scheme is on rehabilitation, provision of medical facilities, counselling,
education, skill development and so on.
Scheme would be implemented with the support of State/UT Governments/Local Urban Bodies,Voluntary Organizations, Community Based Organizations (CBOs), institutions and others.

Britain said that a Brexit treaty on Northern Ireland, negotiated by Prime Minister Boris Johnson and called the Northern Ireland Protocol, could create so many problems that it might have to be abandoned if it cannot be rewritten.

About:

The protocol aims to resolve one of the thorniest issues created by Brexit: what to do about the border between Northern Ireland, which is part of the United Kingdom, and the Republic of Ireland, which remains part of the EU.
The protocol sets out a plan to deal with this unique situation. It does so by effectively leaving Northern Ireland half inside the European system, and half inside the British one.
The plan means more checks on goods entering Northern Ireland from mainland Britain, effectively creating a border down the Irish Sea and dividing the UK.

What would happen if Britain withdrew from the protocol?

Britain says it has grounds already to deploy an emergency clause known as Article 16 that permits it to act unilaterally, effectively allowing it to suspend parts of the protocol. It doesn’t plan to do so for the moment, but the option remains on the table.
If Britain does this, the European side will most likely accuse Johnson of breaking a treaty. This could lead to retaliation and even a trade war between Britain and the EU.

As per the latest UN Global Survey on Digital and Sustainable Trade Facilitation, India has made noticeable progress in ease of cross-border trade.
The bi-annual survey exclusively deals with trade facilitation measures taken by individual countries.
The survey tracks 58 measures identified with trade facilitation such as facility for electronic submission of declarations and electronic payment of duties and fees and electronic application for refunds which are seen as global best practices.
India’s rank moved up from 78.49% in 2019 to 90.32% in 2021.

The National Asset Reconstruction Company Ltd (NARCL) long with an asset management company, India Debt Management Company, was proposed in this year’s Budget to take over the stressed debt of banks.
NARCL, also known as a bad bank, has eight public sector banks as its shareholders. According to the Articles of Association of the company, filed with the RoC, while SBI, Union Bank of India, Bank of Baroda and Indian Bank own 99 lakh shares each, Canara Bank owns 1.2 crore shares.

Key objectives

As per the objectives of the company, it will carry out the business of an asset reconstruction company.
Besides dealing in financial assets, it will also manage, enforce, sell or realise any property or asset that may come into its possession, among others.
This is set to rise going forward as sources say that NARCL may have a capital base of Rs 6,000-7,000 crore eventually. Some private sector banks are also expected to pick up equity stake in the company.
As per the objectives of the company, it will carry the business of an asset reconstruction company.
Besides dealing in financial assets, it will also manage, enforce, sell or realise any property or asset that may come into its possession, among others.

After successful trials, China rolled out its high-speed Maglev train with a top speed of 600 kmph.
Maglev, short for Magnetic Levitation, is a system in which the vehicle runs levitated from theguide way (corresponding to the rail tracks of conventional railways) by using electromagnetic forces between superconducting magnets onboard the vehicle and coils on the ground.
Because of no contact (or friction) between vehicle and guideway, it can reach high speeds along with other benefits such as higher efficiency and low noise.