Current Affairs - Bills and Acts

The Prevention of Money Laundering Act, of 2002, along with its Rules, came into force on July 1, 2005. This Act was enacted by the NDA government to combat money laundering activities and facilitate the confiscation of property obtained through such illegal means.

Article 324(2) of the Constitution of India grants the President the authority to appoint the Chief Election Commissioner and the Election Commissioners. This article gains significance with the recent resignation of Election Commissioner Arun Goel before the 2024 elections, leaving only the Chief Election Commissioner Rajiv Kumar on the poll panel.

The Government of India announced the implementation of the Citizenship Amendment Act (CAA) on March 11, 2024. This decision, led by the Narendra Modi-led Bharatiya Janata Party (BJP) government, brought the controversial law back into focus, aiming to provide a pathway to Indian citizenship for persecuted minority communities from neighbouring countries.

The NAMASTE Scheme aims to ensure the safety and dignity of sanitation workers by banning manual sewer cleaning. With measures such as health insurance, safety training, and equipment subsidies, it prioritizes the well-being of sanitation workers, recognizing their crucial role in maintaining community health and hygiene.

The Reserve Bank of India sanctioned the merger of Fincare Small Finance Bank with AU Small Finance Bank under "Section 44A" of the Banking Regulation Act, 1949. This section empowers the RBI to approve the amalgamation or merger of banks, ensuring compliance with regulatory standards and safeguarding the interests of stakeholders in the banking sector.