Current Affairs for Prelims exam about District Central Co-operative Banks
District Central Co-operative Banks
The Reserve Bank of India (RBI) has announced that District Central Co-operative Banks can shut down their unprofitable branches without seeking prior permission from the central bank
About District Central Co-operative Banks (DCCBs):
- A DCCB is a rural cooperative bank operating at the district level in various parts of India.
- It is established to provide banking to the rural hinterland for the agricultural sector, with the branches primarily established in rural and semi-urban areas.
- DCCB provides finance to all the co-operative societies in the district, conducts activities, and provides banking services according to the provisions of the co-operative act and banking act.
- They act as a link between the primary credit co-operative society and the State Co-operative Bank.
- At the district level, DCCB works as a banker of state government. Educational institutions, Zilla Parishad, Panchayat Samiti, Gram Panchayat, cooperative societies, etc have accounts in this bank.
- All the financial transactions of co-operative sector are conducted through DCCB.
- DCCBs have three sources of funds:
- Their own share capital and reserves
- Deposits from the public and
- Loans from the state co-operative banks
- The main functions of the DCCBs are
- To meet the credit requirements of member-societies
- To perform banking business
- To act as a balancing centre for the Primary Agricultural Credit Societies (PACS) by diverting the surplus funds of some societies to those which face shortages of funds
- To undertake non-credit activities
- To maintain close and continuous contact with PACS and provide leadership and guidance to them
- To supervise and inspect the PACS and
- To provide a safe place for the investment of the resources of PACs
- They also lend directly to the public for non-agricultural purposes within the area of operation of their branches.
Animal Derived Biomedical Device
- Indian Drugs Controller approved the first indigenously developed animal-derived Class D Biomedical Device, Cholederm, that can rapidly heal skin wounds at low-cost with minimum scarring.
- As per the Medical Devices Rules, 2017, medical devices are classified into four classes based on the risk level: Class A (low risk), Class B (low moderate risk), Class C (moderate high risk); Class D (high risk).
Drugs Controller General of India
National Pharmaceutical Pricing Authority
The Drugs (Prices Control) Order (DPCO) is a regulatory framework established by the Government of India to control and regulate the prices of pharmaceutical drugs in the country. The DPCO is aimed at ensuring that essential and life-saving medicines are available to the general population at reasonable and affordable prices.
|
OTT Regulation in India
OTT platforms are audio and video hosting and streaming services which started out as content hosting platforms, but soon branched out into the production and release of short movies, feature films, documentaries and web-series themselves.
India is currently the world’s fastest growing OTT market and is all set to emerge as the world’s sixth largest by 2024. Over-the-top (OTT) video streaming accounted for 46% of the overall growth in Indian media and entertainment industry from 2017 to 2022.
Laws pertaining to OTT Regulation
- Information Technology Act 2000
- Indian Penal code 1861
- Indecent Representation of Women (Prohibition) Act 1986
- IT Rules 2021
- Ministry of Information and Broadcasting overarching regulatory body
- Code of Ethics prescribes the guidelines to be followed by OTT platforms and online news and digital media entities.
- OTT platforms would self classify – U, U/A 7+, U/A 13+, U/A 16+ and A
- Parental Locks for U/A13+ or higher
- A three tier level grievance redressal mechanism – Grievance Redressal Officer (appointed by publisher), Self Regulatory Body (headed by ex SC or HC Judge or eminent person), Oversight mechanism (M of I&B)