Welcome to TARUN IAS – Your Daily News Analysis for UPSC/IAS Exam Preparation!
Stay informed with relevant current affairs from trusted sources like The Hindu, Indian Express, PIB, and more. Our daily news analysis includes Prelims Facts and Important Editorials presented in a concise and bulletised format. Get free daily updates up to 4 P.M. (except Sundays). Don’t miss the Daily Revision Quiz to reinforce your knowledge. Good luck!
Here are the topics covered for 16 January 2024:
GS-2: Online Gaming Industry, Uniform Civil Code (UCC)
GS-3: Trading Accounts, Davos Summit 2024
Facts For Prelims: Vadnagar, Ken-Betwa Link
Online Gaming Industry
Context
- Recent events in India highlighted the need for robust regulation in India’s online gaming industry due to emerging market failures.
What is Online Gaming?
- Online gaming refers to video games that are played over a computer network, most commonly the Internet.
- This encompasses a wide range of games, from simple browser-based titles to complex, immersive experiences with thousands of players simultaneously.
| Issue | Description |
| Addiction and mental health | Immersive nature leading to addiction, neglecting studies, social isolation, depression, anxiety |
| Financial risks | In-game purchases, loot boxes, gambling elements, financial losses, predatory practices |
| Regulatory ambiguity | Unclear distinction between skill-based gaming and gambling, confusion, hinders industry growth |
| Illegal offshore gambling | Unregulated space, financial losses, fraud, security risks |
| Technical and infrastructure limitations | Uneven internet access, and lack of affordable devices, restrict participation |
| Taxation and regulatory burden | High GST, fragmented landscape, adds costs, hinders growth |
| Data security and privacy concerns | Data breaches, privacy violations, lack of robust laws, enforcement |
| Lack of age verification and parental controls | Inappropriate content, gambling risks, protect children |
Uniform Civil Code (UCC)
Context
- The State of Uttrakhand is likely to become the first state in the country to implement a UCC.
What is UCC?
- Currently, separate personal laws govern different religious communities for their matters.
- But Article 44 in the Constitution paints a different picture, suggesting a Uniform Civil Code – one set of rules for all, regardless of their religious background.
- This vision sparks ongoing debates, raising questions about potential conflicts with existing practices and the complexities of achieving such a unified system.
- UCC in Goa:
- This vibrant state, steeped in Portuguese heritage, embraces the Uniform Civil Code (UCC) – a single set of rules for all, regardless of faith, when it comes to marriage, divorce, and inheritance.
- This unique system, dating back to the Portuguese Civil Code of 1867, offers a glimpse into a potential future for India, where legal harmony transcends religious divides.
Trading Accounts
Context
- SEBI\’s new norms for voluntary freezing or blocking of trading accounts do indeed aim to safeguard investors from potential fraud and suspicious activities.
What is a Trading Account?
- A trading account, offered by stockbrokers, acts as a gateway to financial markets for individual investors.
- This account facilitates buying and selling securities, serving as a bridge between your bank account and a demat account holding your digital assets.
- Through the broker\’s trading platform, you can execute trades seamlessly, empowering you to participate in the stock market.
Why Freezing of Trading Accounts?
- Voluntary Blocking: Investors can now directly freeze their trading accounts, giving them immediate control if they suspect unauthorized activity or unusual login attempts.
- Reduced Vulnerability: This empowers investors to prevent potential losses during market manipulation, hacking, or social engineering scams.
- Enhanced Peace of Mind: Knowing they can readily halt trading provides increased security and peace of mind.
- Early Warning System: Freezing an account allows investors and brokers to investigate suspicious activity promptly, potentially minimizing losses and identifying broader problems.
- Faster Investigation: Brokers can investigate frozen accounts more efficiently to determine the cause and take appropriate action, such as contacting the investor or reporting the activity to the authorities.
- Potential Market Protection: By containing suspicious activity in a single account, wider market manipulation or fraud schemes can be contained more effectively.
Davos Summit 2024
Context
- Davos is home to the annual week-long World Economic Forum, where global elite members gather to discuss the world\’s problems.
- The city has hosted annual meetings every January for the past five decades, beginning in 1971.
India at the Summit 2024
- India’s 100-member delegation is led by Smriti Irani, minister for women and child development.
- She was inaugurating the Women Leadership or WeLead Lounge on the sidelines of the Forum.
- In addition to Indian tea, coffee, \’samosas\’, and \’kachoris\’, there will also be Indian liquor flying off the shelves during \’Spirit of India Hour\’ on two evenings at a few bars, restaurants, and lounges.
- The Confederation of Indian Industry (CII) on Monday launched the CII India Business Hub to facilitate discussions on the growth of the Indian economy with a theme of \’Credible India\’ to showcase India\’s economic achievements and its future potential as a significant contributor to global growth.
About Davos Summit
- Events in 1973, namely the collapse of the Bretton Woods fixed exchange rate mechanism and the Arab-Israeli War, saw the Annual Meeting expand its focus from management to economic and social issues.
- Two years later, the organization introduced a membership system for ‘the 1,000 leading companies of the world’.
- The WEF is largely funded by its partnering corporations.
Facts For Prelims
Vadnagar
- Vadnagar is a town in Mehsana district, Gujarat, located about 107 kilometers northwest of Ahmedabad.
- Situated on the banks of the Shedhi River, it boasts a scenic setting amidst lush greenery and sandstone buildings.
Ken-Betwa Link
- This two-phased initiative is paving the way for river interlinking in India.
- Phase 1 tackles the crucial Daudhan Dam complex, complete with tunnels, canals, and powerhouses.
- Phase 2 builds upon this foundation, adding three more components: the Lower Orr Dam, the Bina complex, and the Kotha barrage.
- Each stage plays a vital role in achieving the project\’s ambitious goal of water redistribution and sustainable development.