Current Affairs 29th Aug 2024 for UPSC Prelims Exam

StudyIQ offers Daily Current Affairs and Important News for the UPSC Exam 2024. Check here for Current Affairs of 29th Aug 2024 for the UPSC Exam and State PSC Exam.

Table of Contents

Agriculture Infrastructure Fund (AIF)

Context: The Union Government has expanded the scope of AIF to include financial support for Farmers’ Producers Organisations (FPOs). It will enhance their financial security and creditworthiness.

About AIF

Nature of Scheme: Central Sector
Duration: FY2020 to FY2032.
Objective: To Provide medium to long-term debt financing for post-harvest management infrastructure and community farming assets.
Features:
- Interest Subvention of 3% per annum for all loans up to a limit of ₹ 2 crores for a maximum period of 7 years.
- Credit guarantee coverage under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for loans up to Rs. 2 crore.
  - The fee for this coverage will be paid by the Government.
- 24% of total grants–in–aid under the scheme should be utilised for SC/ST entrepreneurs (16% for SC and 8% for ST).
Eligible Borrowers: Primary Agricultural Credit Societies (PACS), Marketing Cooperative Societies, Farmer Producers Organizations (FPOs), Farmers, Self Help Group (SHG) etc.

Chandipura Virus Infection (CHPV)

Context: According to the World Health Organisation (WHO), the current outbreak of CHPV infection in India has been largest in the past 20 years.

About Chandipura Virus Infection

Family: It is part of the Rhabdoviridae family.
Transmitted by: Phlebotomine sandflies and Aedes aegypti mosquitoes.
- The virus is transmitted through insect bites.
Transmission to Humans: It reaches the central nervous system and potentially causes encephalitis(inflammation of the brain).
Target Group: Children under 15 years of age.

Section 45 of PMLA

Context:

The Supreme Court held that bail is the rule and jail an exception even in money laundering cases.

The court said bail is must if the twin conditions of Section 45 (PMLA) were satisfied.

Section 45 of the Prevention of Money Laundering Act, 2002 (PMLA)

Twin Conditions for Bail: Section 45 provides that a court may grant bail to an accused if it is satisfied with two essential conditions:
- Reasonable Grounds for Innocence: The court must believe that there are reasonable grounds for believing that the accused is not guilty of the offence.
- No Likelihood of Committing Offence on Bail: Additionally, the court must be convinced that the accused is not likely to commit any offence while on bail.

Judicial and Government Interventions related to Bail Provisions Of PMLA

Nikesh Tarachand Shah vs Union of India (2018): The Supreme Court declared Section 45 of the PMLA unconstitutional for violating Articles 14 and 21, due to its restrictive bail provisions.
Legislative Amendments Post-Judgment: Reacting to the 2018 judgement, Parliament amended the PMLA through the Finance Act, 2018.
Vijay Madanlal Choudhary vs Union of India (2022): This Supreme Court judgement upheld the amended Section 45, justifying its strict bail conditions as aligned with the PMLA’s aims, marking a significant moment in the Act’s judicial review.

Deep Fakes

Context: Recently The Delhi High Court has observed that deepfakes are going to be a serious menace in society. The Central Government should start working on this.

What are Deep Fakes

It refers to fake images, videos, or audio recordings that are created using artificial intelligence (AI) and machine learning (ML).
Deep Fakes portray those things that do not exist in reality or events that have never occurred.
This technology is now being used for illegal purposes like scams, celebrity pornography, election manipulation, social engineering, automated disinformation attacks, financial frauds etc.
Currently India does not have any specific law to counter Deep Fakes.

What is Machine Learning?

It is a subset of artificial intelligence (AI) that uses data and algorithms to teach machines how to learn and improve on their own.
In simpler terms, machine learning enables computers to learn from data and make decisions or predictions without being explicitly programmed to do so.