Daily Current Affairs — 8 May 2025
4 articles • UPSC Prelims & Mains
Supreme Court Reviews PMLA Ruling, 2022
Context Recently, the Supreme Court of India has initiated a review of its 2022 ruling on the Prevention of Money Laundering Act (PMLA), which granted extensive powers to the Directorate of Enforcement (ED). About the PMLA 2002 It is India’s primary legislation to combat money laundering and financial crimes, enforced since July 1, 2005. It empowers authorities to investigate, prosecute, and confiscate assets linked to illicit financial activities.
Revised SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy for Coal Allocation
Context The Cabinet Committee on Economic Affairs (CCEA) has accorded its approval for the Revised SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) Policy for Coal Allocation to Power Sector. SHAKTI Policy It was introduced in 2017 and there was a paradigm shift of the coal allocation mechanism from a nomination-based regime to a more transparent way of allocation of coal linkages through auction / tariff-based bidding. The current revision with innovative features wil
Free Trade Agreement (FTA) Signed Between UK-India
Context India and the United Kingdom have signed a landmark Free Trade Agreement (FTA) after nearly three years of negotiations. What is a Free Trade Agreement or FTA? FTAs are arrangements between two or more countries or trading blocs that primarily agree to reduce or eliminate customs tariff and non tariff barriers on substantial trade between them.
Early Onset of Indian Monsoon
In Context As per the IMD, there are chances of early onset of the southwest monsoon. The normal onset date of the monsoon over Kerala is June 1 and it usually takes about 10 days for the system to reach Kerala from the Nicobar islands. Mechanism of the Indian Monsoon: The Driving Forces Differential Heating of Land and Sea: In summer, India’s landmass heats faster than the ocean, creating low pressure over land and drawing in moisture-laden winds from the sea.
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