Current Affairs 13-DEC-2023 (The Hindu)

Global Partnership on Artificial Intelligence (GPAI)

(D => Pg-18)

GPAI

GPAI is a multi-stakeholder initiative that aims to enhance international cooperation in the field of AI technology. It is based on the OECD Recommendation on Artificial Intelligence and was established in 2020, following an announcement during the 2018 G7 Summit by Canada and France.

Organizational Structure:

• Council
• Steering Committee
• Centers of Expertise
  • Montreal
  • Paris

Objectives:

• Facilitating international collaboration
• Reducing duplication
• Acting as a global reference point for specific AI issues
• Promoting trust in AI
• Ensuring the adoption of trustworthy AI

Themes Covered:

• Responsible AI
• Data governance
• Future of work
• Innovation and commercialization

Principles to be Adopted:

1. Inclusive growth and sustainable development
2. Human-centered values
3. Transparency and explainability
4. Robustness, security, and safety
5. Accountability

Practice Question – Prelims

Consider the following statements about the Global Partnership for Artificial Intelligence (GPAI):

1. GPAI was framed as per the OECD Recommendation on Artificial Intelligence.

2. India was one of the founding members of the GPAI.

3. The main aim of the GPAI is to aid in the creation of trustworthy AI.

How many of the statements are correct:

a) Only one

b) Only two

c) All three

d) None

FAO

(D => Pg-18)

FAO Report

Regional Overview of Food Security and Nutrition 2023

Important Findings:

• Healthy Diet:
• 2021 - 74% Indians could not afford a healthy diet
• 2020 - 76.2%
• Pakistan - 82.2%
• Bangladesh - 66.1%
• Child Stunting:
• 2021 - 31.7% of children in India under age 5 showed stunted growth.
• Stunting - children with low height for their age.
• Child Wasting:
• 2021 - India recorded the highest rate of child wasting in the South Asia region.
• Wasting - children with low weight for height.
• 2021 - 18.7% Indian children under the age 5 faced wasting.
• Low Birth Weight:
• 2021 - India had the highest prevalence of low birth weight in the South Asian region.
• 2021 - 27.4% children were born with low birth weight.
• Overweight:
• 2021 - 2.8% of Indian children below age five were overweight.
• 2021 - 1.6% of adults were obese.
• Anaemia:
• 2021 - 53% of Indian women aged between 15 to 49 had anaemia.
• Anaemia - number of Red Blood Cells (RBCs) or the haemoglobin concentration within the RBCs is lower than normal.

Food and Agriculture Organization (FAO):

• Specialized agency of the United Nations.
• Established in 1945.
• Headquarters - Rome, Italy.
• Members - 195 including European Union (EU).
• Objectives:
• To achieve food security for all.
• To make sure that people have regular access to enough high-quality food.

Practice Question – Prelims

Which one of the following organisation involves in the publication of ‘The State of Food Security and Nutrition in the World’ (SOFI) report?

(a) Child Rights International Network (CRIN)

(b) Food and Agriculture Organisation (FAO)

(c) World Resources Institute (WRI)

(d) International Red Cross (IRC)

Non Performing Asset (NPA)

(D => Pg-18)

Non Performing Asset (NPA) and Asset Reconstruction Companies

Non Performing Asset - NPA

• Loans and advances that are in default or in arrears.
• RBI considers an asset as NPA when it stops generating income for the bank.
• NPA is any asset of a bank that is not producing any income.
• NPA is declared by the concerned banks based on specific criteria:
1. Overdue > 90 days in respect of a term loan.
2. Overdue > 90 days if bills purchased and discounted.
3. Overdue for two crop seasons for short-duration crops.
4. Overdue for one crop season for long-duration crops.

National Asset Reconstruction Company Ltd (NARCL)

• Commonly known as Bad Bank.
• Incorporated under the Companies Act.
• State-owned banks will hold 51% stake, and debt management companies will hold 49% stake.
• Registered with the Reserve Bank of India as an Asset Reconstruction Company under SARFAESI Act, 2002.
• NARCL's purpose is to pick up bad loans from banks and sell them to prospective buyers of distressed debt.
• Determines the price of Bad loans.

India Debt Resolution Company Ltd (IDRCL)

• Functions as an Asset Management Company.
• Aids in the management and resolution of assets.
• Evolves strategies to ensure the best possible recovery and resolution process.
• State-owned banks will hold 49% stake, and private lenders will hold 51% stake.

Advantages of NARCL and IDRCL

• NARCL will have a public sector character.
• NARCL is government-backed, so it will buy out big accounts and free up banks.

Practice Question – Prelims

Which of the following statements with reference to Non Performing Asset (NPA) is incorrect

a) NPA is any asset of a bank which is not producing any income

b) An asset can be considered as NPA if the instalment of principal or interest remains overdue for one crop season for crops of any duration.

c) Generally loans given by the banks are considered as a liability of the bank.

d) Both b and c.