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bharat ratna - Shanmugam IAS academy in coimbatore
bharat ratna

RBI FAILED TO REPLY

What’s in news?

The Delhi High Court pulled up the Reserve Bank of India for failing to give any response, to a petition seeking to stop banks from sharing the Permanent Account Number (PAN) and financial transaction data of clients with credit rating agencies without the customers’ formal consent.

Key data’s:

  • The Reserve Bank of India was failed to give any response, from February till date, to a petition seeking to stop banks from sharing the Permanent Account Number (PAN) and financial transaction data of clients with credit rating agencies without the customers’ formal consent.
  • A Bench of Chief Justice D.N. Patel and Justice C. Hari Shankar directed its deputy governor to be personally present before it on October 11, the next date of hearing, if it fails to submit response and vakalatnama on the bank’s behalf by then.

Vakalatnama:

  • Vakalatnama includes memorandum of appearance or any other document by which an advocate is empowered to appear or plead before any court, tribunal or other authority.
  • A Vakalatnama is not defined either in the Power -of- Attorney Act, 1882 or in the Civil Procedure Code, 1908. 
  • A Vakalatnama under which a lawyer is empowered to act may be general. it may specifically confer wide authority upon a lawyer.

Power- of- Attorney:

The Power of Attorney Act, 1882, includes any instrumentals empowering a specified person to act for and in the name of the person executing it.

 

BHARAT RATNA AWARD

What’s in news?

The President of India, Shri Ram Nath Kovind, presented Bharat Ratna Awards to Shri Nanaji Deshmukh (posthumously), Dr Bhupendra Kumar Hazarika (posthumously) and Shri Pranab Mukherjee.

Key data’s:

  • Prime Minister Narendra Modi on Friday said the Bharat Ratna conferred on former president Pranab Mukherjee is a fitting recognition for his service to the nation.
  • Mukherjee was conferred the highest civilian award by his successor Ram Nath Kovind 
  • Bharat Ratna is the highest civilian award of the Republic of India. The provision of Bharat Ratna was introduced in 1954.
  • Eligibility:Any person without distinction of race, occupation, position or sex is eligible for these awards.
  • There is no written provision that Bharat Ratna should be awarded to Indian citizens only.
  • It is awarded in recognition of exceptional service/performance of the highest order in any field of human endeavor.
  • The award was originally limited to achievements in the arts, literature, science and public services but the government expanded the criteria to include “any field of human endeavor” in December 2011.
  • In terms of Article 18 (1) of the Constitution, the award cannot be used as a prefix or suffix to the recipient’s name. However, should an award winner consider it necessary, he/she may use the expression in their biodata/letterhead/visiting card etc. to indicate that he/she is a recipient of the award.

 

Links to note:

https://www.iasipstnpsc.in/rbi-reserve/

https://taxguru.in/corporate-law/vakalatnama-power-attorney.html

https://www.thehindu.com/news/cities/Delhi/hc-raps-rbi-for-not-replying-to-plea-claiming-misuse-of-data-by-banks/article28970791.ece

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