Daily Current Affairs (English) - 10.03.2018



Coverage of Health Insurance Schemes

  • As per Insurance Regulatory and Development Authority of India (IRDAI), the total number of lives covered under any type of health insurance policy as on 31st March, 2017 were 43.75 crore which is approximately 36 per cent of India’s population as per Census 2011.
  • Health Insurance Policies generally provide coverage for inpatient treatment including Domiciliary Hospitalization benefits subject to policy terms and conditions.
  • However, more number of health insurance products now provide coverage for Out Patient Department (OPD) treatment in order to encourage policyholders to go for treatment at early stages.
  • IRDAI (Health Insurance) Regulations, 2016 inter-alia enable the insurers to introduce wellness and preventive features as part of health insurance policies.
  • During the year 2016-17, the Rashtriya Swasthya Bima Yojana (RSBY) was in implementation in 15 States/UTs involving 265 districts, covering 3.63 crore families. Some of the insurance products where OPD treatment and maternity cover are being covered is at Annexure.
  • This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Lok Sabha on 9th March.


Supreme court on passive euthanasia

  • A five-judge Constitution Bench, led by Chief Justice of India Dipak Misra, of the Supreme Court has upheld passive euthanasia and the right to give advance medical directives or ‘Living Wills’ to smoothen the dying process as part of the fundamental right to live with dignity.
  • Constitution Bench in four separate and concurring opinions, ruled on 09th March that the fundamental right to life and dignity under Article 21 of the Constitution includes the right to die with dignity.
  • Dignity is lost if a man is allowed or forced to undergo pain and suffering because of unwarranted medical support.
  • Passive euthanasia is the act of withdrawing or withholding medical support to a dying patient who has no hope for revival or cure.



Basel III capital regulations

  • Reserve Bank of India (RBI) has informed that the Basel III capital regulations has been implemented from April 1, 2013 in India in phases, for full implementation by March 31, 2019.
  • Norms/guidelines regarding the capital required to be maintained by banks in India including the Basel III capital regulations, are issued by RBI. RBI has not notified any changes or proposed changes to these regulations since March 2016.
  • RBI has envisaged full implementation of Basel III capital regulations in India by March 31, 2019.As per audited data of Public Sector Banks (PSBs) for the quarter ended December 2017, all PSBs met the regulatory norm for Common Equity Tier-1.
  • Further, with a view to supplementing the efforts of PSBs for meeting regulatory capital norms and augmenting growth capital, Government of India announced in October 2017 recapitalisation of PSBs to the tune of Rs. 2,11,000 crore over the current and next financial years comprising of capital infusion by the Government of Rs. 1,53,139 crore and the balance through raising of capital by PSBs.
  • This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Lok Sabha on 9th March.


Disinvestment Policy

The extant disinvestment policy, inter alia, envisages:

  • Listing of profitable CPSEs on stock exchanges to unlock the value of the company, improve efficiency and promote ''people’s ownership'' by encouraging public participation in CPSEs;
  • Disinvestment through ''minority stake sale'' in listed CPSEs to achieve minimum public shareholding norms of 25 per cent.
  • While pursuing divestment through ''minority stake sale'', the Government will retain majority shareholding, i.e. at least 51% and management control of the Public Sector Undertakings;
  • Strategic disinvestment by way of sale of substantial portion of Government shareholding in identified CPSEs upto 50 per cent or more, along with transfer of management control.
  • As per the disinvestment policy, the Government has approved listing of 14 CPSEs in sectors like railways, defence, power, steel, renewable energy & insurance.
  • The Government has also put in place a mechanism/procedure alongwith indicative timelines for listing of CPSEs on 17.02.2017 which are followed by Administrative Ministries/Departments.
  • This was stated by Shri P. Radhakrishnan, Minister of State for Finance in written reply to a question in Lok Sabha on 9th March.



US on ‘reciprocal tax’

  • On 9th March U.S. President Donald Trump threatened to impose “reciprocal tax” on countries like China and India if they do not match America’s tariff.
  • According to U.S President ,They are 50, they are 75 or they are 25, we are going to be doing the same numbers.
  • It’s called reciprocal. So they charge us 50, we would charge them 50.