ISRO : Space Missions 2012-17

For the past four decades, ISRO has launched more than 65 satellites for various scientific and technological applications like mobile communications, Direct-to-Home services, meteorological observations, telemedicine, tele-education, disaster warning, radio networking, search and rescue operations, remote sensing and scientific studies of the space. 

ISRO has established two major space systems, the Indian National Satellite System (INSAT) series for communication, television broadcasting and meteorological services which is Geo-Stationary Satellites, and Indian Remote Sensing Satellites (IRS) system for resources monitoring and management which is Earth Observation Satellites. ISRO has launched many Experimental Satellites which are generally small comparing to INSAT or IRS and Space Missions to explore the space .

Financial Sector Legislative Reforms Commission

The Financial Sector Legislative Reforms Commission (FSLRC) is a body set up by the Government of India, Ministry of Finance, on 24 March 2011, to review and rewrite the legal-institutional architecture of the Indian financial sector. This Commission is chaired by a former Judge of the Supreme Court of India, Mr. B. N. Srikrishna and has an eclectic mix of expert members drawn from the fields of finance, economics, public administration, law etc.

The Terms of Reference of the Commission include the following:

1.   Examining the architecture of the legislative and regulatory system governing the Financial sector in India

2.   Examine if legislation should mandate statement of principles of legislative intent behind every piece of subordinate legislation in order to make the purposive intent of the legislation clear and transparent to users of the law and to the Courts.

3.   Examine if public feedback for draft subordinate legislation should be made mandatory, with exception for emergency measures.

4.   Examine prescription of parameters for invocation of emergency powers where regulatory action may be taken on ex parte basis.

5.   Examine the interplay of exchange controls under FEMA and FDI Policy with other regulatory regimes within the financial sector.

6.   Examine the most appropriate means of oversight over regulators and their autonomy from government.

7.   Examine the need for re-statement of the law and immediate repeal of any out-dated legislation on the basis of judicial decisions and policy shifts in the last two decades of the financial sector post-liberalisation.

8.   Examination of issues of data privacy and protection of consumer of financial services in the Indian market.

9.   Examination of legislation relating to the role of information technology in the delivery of financial services in India, and their effectiveness.

10.                      Examination of all recommendations already made by various expert committees set up by the government and by regulators and to implement measures that can be easily accepted.

11.                      Examine the role of state governments and legislatures in ensuring a smooth interstate financial services infrastructure in India.

12.                      Examination of any other related issues.

The model of the proposed regulatory architecture will comprise the following agencies:

1.   The central bank as the monetary authority, banking regulator and payment system regulator. Banking operations, monetary policy and payment system would continue to be regulated by the RBI.

2.   A unified regulator for the rest of the financial sector. The Unified Financial Agency (UFA) would subsume the functions of key agencies such as the Securities and Exchange Board of India, the Insurance Regulatory and Development Authority, the Pension Fund Regulatory and Development Authority and the Forward Markets Commission.

3.   A Deposit Insurance-cum-Resolution Agency.

4.   A Public Debt Management Agency.

5.   A Financial Redressal Agency.

6.   A Financial Sector Appellate Tribunal.

7.   A mechanism for coordination, systemic risk, financial development and other issues where the role of multiple agencies are involved (FSDC/similar to FSDC) . Financial Sector Development Council (FSDC) should be given statutory powers. The FSDC is headed by the Finance Minister, with heads of all financial sector regulators as its members.

Juvenility & of Sexual Consent

Even as the debate over the age for consensual sex continues in the country, a colloquium organised in the National Capital agreed that the age of the child or juvenile should be 18 years and lowering it would be a regressive step.

The government intended to lower the age of consensual sex from 18 to 16 years but it was opposed by several political parties.

The most important point emphasised by all speakers at the colloquium on “Juvenile Justice” was to ensure that the age of juvenility is not confused with the ongoing age of sexual consent debate in India as the two provisions are distinct concepts though both have their basis in the principle of child protection. While Juvenility is to protect the rights of a juvenile offender, the age of sexual consent is to ensure that young people are not criminalised for consensual sexual activity.

Coinciding with the discussions on the various legal ages for children and also demands for lowering the age of juvenility, a study was presented by Dr. Kimberly Ambrose of the U.S., which has brought forth forensic evidence on brain development and has been used by the Supreme Court of the U.S. to pronounce certain judgements concerning young offenders. The evidence shows that the brain does not develop fully until the age of 20 years and this explains the impulsive and risk taking behaviour among young persons.

It was agreed that there remains a lot of ambiguity when it comes to implementation of the juvenile justice standards in national contexts and in many countries, the tools and means to implement effective juvenile justice systems are missing. Monitoring is weak, leading to inadequacies in the system. Justice Ravindra Bhat of the Delhi High Court suggested that the government should invest in regular audit of the juvenile justice system just as it invests in tax audits.

 In the U.S., for example, research is showing that stringent punishment or treatment of a juvenile has led to non-reporting or covering up of offences by young people aged 16-18 years.

There was an agreement to invest in preventing juvenile crimes, which is also more cost effective for a nation as is shown in research collated by the International Juvenile Justice Observatory in Brussels.

Voicing concern over knee-jerk reactions following the declaration of one of the accused in the recent Delhi gang rape case as a juvenile, Chief Justice of India Altamash Kabir reminded the country that India has ratified the UN Convention of the Rights of the Child, and therefore has an obligation to uphold all rights for all children, including those who come in conflict with the law. “We must allow law to take its due course ” Justice Kabir emphasised.