What is the News ?

Recently, the Global Fund unveiled an agreement with generic pharmaceutical companies to substantially reduce the cost of a state-of-the-art HIV medication.

Facts About:

The Global Fund represents a global initiative aimed at conquering HIV, TB, and malaria, striving for a healthier, safer, and more equitable future for everyone.

Established in 2002, this movement unites governments, civil society, healthcare professionals, and the private sector.

Funding:

• The Global Fund operates on a three-year funding cycle, providing more extended-term stability in the fight against AIDS, TB, and malaria.

Funding primarily originates from the public sector, with 92% of total contributions originating from donor governments.

• Additional funding sources encompass the private sector, foundations, and innovative financial initiatives.

In 2006, India became a donor to the Global Fund, committing $25 million for the Seventh Replenishment period spanning 2023-2025.

What is the News ?

The Archaeological Survey of India is ready to introduce its new and innovative program called "Adopt a Heritage 2.0.

Facts About:

• This initiative is a joint effort of the Ministry of Tourism in partnership with the Ministry of Culture and the Archaeological Survey of India.
• It was inaugurated on World Tourism Day in September 2017.
• Under this program, the government invites various entities, including public and private sector companies, as well as individuals, to undertake the development of selected historical monuments and tourist sites throughout India.
• The primary goal is to encourage these entities to become 'Monument Mitras' and assume the responsibility of enhancing both basic and advanced tourist facilities at these locations.
• The corporate sector is encouraged to utilize corporate social responsibility (CSR) funds for site maintenance.
• In return, Monument Mitras receive limited visibility on-site and on the official Incredible India website.

What is the News ?

The state of Virginia in the United States has issued a caution regarding a widespread outbreak of meningococcal disease.

Facts About:

Meningococcal disease is a rare but severe bacterial infection that causes inflammation of the membranes covering the brain and spinal cord.

The two primary forms are meningitis and septicemia, both potentially life-threatening within hours.

Causes:

• This disease is caused by Neisseria meningitidis bacteria. Approximately 1 in 10 people carry these bacteria in their nose and throat without illness, but sometimes they can cause meningococcal disease.

Transmission:

• Transmission occurs through respiratory and throat secretions, like saliva, but usually requires close or prolonged contact. It's less contagious than the common cold or flu.

Symptoms:

• Common symptoms include fever, headache, stiff neck, photophobia (sensitivity to light), nausea, vomiting, diarrhea, and a distinctive rash.

Treatment:

• Meningococcal disease is treated with antibiotics, and additional therapies may be necessary, such as oxygen therapy, medications for low blood pressure, and skin treatments, including surgery.

What is the News ?

The government has recently issued a Request for Proposal (RFP) to hire an asset appraiser for the Strategic Disinvestment of IDBI Bank.

Facts About:

Strategic disinvestment involves the sale of a significant portion of the government's ownership in a central public sector enterprise (CPSE), which can be up to 50% or a higher percentage as decided by the competent authority.

• This process also includes the transfer of management control.

It essentially means transferring both ownership and control of a public sector entity to another entity, which can be either private or public.

Distinguishing Strategic Disinvestment/Sale from Disinvestment:

• Disinvestment refers to the sale of minority shares of public enterprises to another entity, whether it's public or private.
• In this case, the government still maintains ownership of the enterprise.

In contrast, strategic disinvestment/sale occurs when the government sells a majority share in an enterprise, relinquishing not only ownership but also control of the entity.

What are the objectives of Strategic Disinvestment:

• Reduce Government Ownership
• Raise Capital
• Enhance Efficiency
• Foster Competition
• Attract Private Investment
• Focus on Core Functions
• Alleviate Fiscal Burden

What is the News ?

India has suggested to all G20 nations to actively cooperate to deal comprehensively and efficiently with fugitive economic offenders as part of the action against them and recovery of the assets.

Facts About:

• The FATF is an international organization made up of governments that focuses on creating policies and standards to combat money laundering and terrorist financing.
• Objective: Its main goal is to establish global standards and encourage the development of policies at both national and international levels to prevent money laundering and the financing of terrorism.
• The FATF provides recommendations to combat financial crimes, assesses its member countries' policies and procedures, and strives to promote the adoption of anti-money laundering regulations worldwide.
• Formation: The FATF was established in 1989 during the G7 Summit in Paris with the initial aim of addressing money laundering. In 2001, its scope expanded to include combating terrorism financing.
• Headquarters: Its headquarters are located in Paris, France.
• Membership: The FATF comprises 39 member countries, including the United States, India, China, Saudi Arabia, Britain, Germany, France, and the European Union.
  • India became a member in 2010.
• As part of its efforts, the FATF maintains two lists: the blacklist and the greylist.

Black List:

• The blacklist contains countries referred to as Non-Cooperative Countries or Territories (NCCTs). These are countries known for supporting terrorism funding and money laundering activities.
• The FATF regularly updates this list, adding or removing countries as needed.

Grey List:

• The grey list includes countries considered to be safe havens for supporting terrorism funding and money laundering. Placement on this list serves as a warning that a country may eventually be placed on the blacklist.
• Currently, three countries on the FATF blacklist are North Korea, Iran, and Myanmar.

Consequences of Being on the FATF Blacklist:

• Countries on the FATF blacklist do not receive financial aid from organizations such as the International Monetary Fund (IMF), the World Bank, the Asian Development Bank (ADB), and the European Union (EU).
• Additionally, they face various international economic and financial restrictions and sanctions.