Gyaan - IRNSS, Banking License, Social Progress Index, Curative Petition

IRNSS

Like GPS of USA IRNSS will be used to provide Indian version of GPS

IRNSS 1A was launched was in July last year. ISRO plans to launch IRNSS 1B using PSLV- C24.

IRNSS will offer two services:

1. Standard Positioning Service: that will be accessible to anyone

2. Restricted Service: Will be available only to the military and other government-authorized users.

Banking Licenses

The Reserve Bank of India (RBI), on Wednesday, granted ‘in-principle’ approval to two applicants, IDFC Limited and Kolkata-based Bandhan Financial Services Private Limited, to set up banks.

Curative Petition

Gay activists and the Naz Foundation on Thursday moved the Supreme Court with a curative petition, seeking to correct its judgment which upheld the validity of Section 377 of the IPC.

To entertain the curative petitions, the court has laid down certain specific conditions. Its laid down in order The requirements which are needed in order to accept the curative petitions are:

1. The petitioner will have to establish that there was a genuine violation of principles of natural justice and fear of the bias of the judge and judgement that adversely affected him.
2. The petition shall state specifically that the grounds mentioned had been taken in the review petition and that it was dismissed by circulation.
3. The curative petition must accompany certification by a senior lawyer relating to the fulfillment of the above requirements.
4. The petition is to be sent to the three senior most judges and judges of the bench who passed the judgement affecting the petition, if available.
5. If the majority of the judges on the above bench agree that the matter needs hearing, then it would be sent to the same bench (as far as possible).
6. The court could impose “exemplary costs” to the petitioner if his plea lacks merit.

Social Progress Index

The Social Progress Index measures the extent to which countries provide for the social and environmental needs of their citizens. Fifty-two indicators in the areas of basic human needs, foundations of wellbeing, and opportunity show the relative performance of nations. The index is published by the nonprofit Social Progress Imperative, and is based on the writings of Amartya Sen, Douglass North, and Joseph Stiglitz.

The three different dimensions of the model—Basic Human Needs, Foundations of Wellbeing, and Opportunity—are each weighted equally in the overall index; each of these dimensions is calculated as the sum of four components, each of which is equally weighted. Finally, each component is based on a varying number of individual indicators of social progress within that component. The component scores are calculated using a procedure called principal component factor analysis, which allows one to calculate an aggregate score from multiple indicators related to a common concept.

India's Standing in Social Progress Index

Of issues covered by the Basic Human Needs Dimension, India does best in areas including Nutrition and Basic Medical Care and has the greatest opportunity to improve human wellbeing by focusing more on Shelter. Of issues covered by the Foundations of Wellbeing Dimension, India excels at providing building blocks for people's lives such as Access to Basic Knowledge but would benefit from greater investment in Access to Information and Communications. Of issues covered by the Opportunity Dimension, India outperforms in providing opportunities for people to improve their position in society and scores highly in Personal Freedom and Choice yet falls short in Tolerance and Inclusion.

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