Daily Current Affairs - May 19th 2025
Financial Action Task Force (FATF): Role and Implications
Introduction:
The Financial Action Task Force (FATF) serves as an intergovernmental organization responsible for formulating international regulations aimed at preventing money laundering and the financing of terrorism. Founded in 1989 during the G7 Summit in Paris, its scope was broadened in 2001 to encompass the financing of terrorism. Comprising 39 member countries and collaborating with more than 180 nations, the FATF is instrumental in enhancing global financial security.
Body Part:
FATF Functions and Membership:
- Nations are required to fulfill specific strategic financial and governance standards to be eligible for membership in the Financial Action Task Force (FATF).
- India became a member of the FATF in 2010 and is affiliated with both the Asia Pacific Group (APG) and the Eurasian Group (EAG).
- The FATF issues recommendations regarding anti-money laundering and counter-terrorist financing (AML/CFT) and evaluates the adherence of countries to these financial security protocols.
Grey List vs. Blacklist:
- Countries categorized as a Blacklist include those that do not adequately combat money laundering and terrorist financing, such as North Korea, Iran, and Myanmar.
- The Grey List comprises nations that are subject to heightened scrutiny, with Pakistan having been removed in 2022 yet still facing ongoing examination.
- The repercussions of these classifications involve limitations on international loans, the imposition of sanctions, and a decline in financial credibility.
India’s Recent Move:
- In the aftermath of Operation Sindoor, India intends to submit evidence to the Financial Action Task Force (FATF) regarding Pakistan’s connections to terror financing.
- The FATF’s ruling may influence Pakistan’s economic status, thereby exerting pressure for more robust global anti-terrorism initiatives.
Conclusion:
The Financial Action Task Force (FATF) plays a crucial role in combating financial crimes on a global scale. India’s advocacy for enhanced examination of Pakistan’s connections to terror financing underscores the significance of adhering to FATF regulations in promoting international security. Should Pakistan be placed on the greylist once more, it may encounter substantial financial limitations that could adversely affect its economy.
“ISRO’s PSLV-C61 Mission Failure: EOS-09 Satellite Launch Setback and Implications”
Introduction:
The Indian Space Research Organisation (ISRO) endeavored to deploy the EOS-09, an Earth observation satellite, using the PSLV-C61 from the Satish Dhawan Space Centre in Sriharikota. Unfortunately, the mission was unsuccessful owing to a technical malfunction in the third stage, particularly a decrease in chamber pressure within the motor casing.
Body Part:
Mission Objectives and Capabilities of EOS-09:
- The EOS-09 satellite was engineered to produce high-resolution radar imagery for various civilian purposes, including land-use mapping, hydrological research, and disaster monitoring.
- It was equipped with a Synthetic Aperture Radar (SAR) payload, allowing for data acquisition in all weather conditions, which also rendered it beneficial for defense surveillance.
- Constructed on the foundation of ISRO’s RISAT-1 heritage bus, it maintained technical specifications consistent with previous ISRO remote sensing missions.
- Additionally, it was outfitted with a C-band data link to improve data transmission capabilities.
- The satellite had a mass of 1,696.24 kg and was designed for a mission duration of five years.
Reasons for Mission Failure:
- The PSLV-C61 is a four-stage launch vehicle that utilizes both solid and liquid propulsion systems across its various stages.
- Although the initial two stages operated as expected, a decrease in chamber pressure within the third stage motor led to the failure of the mission.
- Officials from ISRO, including Chairman V. Narayanan, announced that an investigation would be initiated to identify the precise technical malfunction.
- Former ISRO Chairman S. Somanath recognized the difficulties encountered in the development of the third-stage solid motor and expressed optimism regarding ISRO’s capacity to address the problem.
Implications of the Failure:
- The recent setback is a consequence of the failure of NVS-02, a navigation satellite, in January 2025, where the orbit-raising operations were unsuccessful due to a malfunctioning valve.
- This incident underscores the intricate technical challenges associated with space missions, even for a reliable rocket such as PSLV, which has recorded only two failures since its launch—PSLV-D1 in 1993 and PSLV-C39 in 2017.
- The EOS-09 mission holds particular importance for defense applications, especially in light of India’s advancing space-based surveillance strategy.
- Furthermore, it emphasizes the necessity for enhanced funding and support for ISRO, particularly as it undertakes ambitious initiatives like Space-Based Surveillance-3, which aims to deploy 52 military surveillance satellites.
Conclusion:
The failure of PSLV-C61 represents a significant challenge for ISRO, highlighting the complexities associated with precision in space missions. Despite this setback, ISRO boasts a commendable history of successful satellite launches, and it is anticipated that the organization will promptly conduct an investigation and resolve the underlying issues. As India increasingly depends on space-based surveillance and remote sensing for defense and climate research, effectively tackling these technical difficulties will be essential for the success of future missions.
What is a Presidential reference?
Summary of the Article: Supreme Court’s Advisory Jurisdiction under Article 143
Historical Context
- Article 143 of the Indian Constitution grants the President the power to refer questions of law or fact of public importance to the Supreme Court for its advisory opinion.
- This provision is inherited from the Government of India Act, 1935, which allowed the Governor-General to consult the federal court on important legal questions.
- Similar mechanisms exist in other countries, such as Canada, where the Supreme Court can provide advisory opinions, but not in the United States, where the Supreme Court refuses such opinions to maintain the separation of powers.
Provisions and Process
- Under Article 143(1), the President may refer any question of law or fact to the Supreme Court, based on the advice of the Union Council of Ministers
- The reference is discretionary for the Court; it may choose to answer or decline, except in cases under Article 143(2), where giving an opinion is mandatory.
- Any such reference must be heard by a bench of at least five judges, as per Article 145.
- The Supreme Court’s opinion is advisory and not legally binding on the President or the government, nor does it have precedential value, but it holds strong persuasive authority and is usually followed.
Past Instances
- Since 1950, around fifteen references have been made under Article 143.
- Landmark references include:
- Delhi Laws Act (1951): Defined limits of delegated legislation.
- Kerala Education Bill (1958): Clarified the relationship between Fundamental Rights and Directive Principles, and minority rights under Article 30.
- Berubari Case (1960): Held that ceding Indian territory requires a constitutional amendment.
- Keshav Singh Case (1965): Interpreted legislative privileges.
- Presidential Poll Case (1974): Clarified election procedures amidst vacancies.
- Special Courts Bill (1978): Established that the Court can decline to answer vague references and should not intrude on Parliament’s functions.
- Third Judges Case (1998): Set guidelines for judicial appointments.
- The Supreme Court has declined to answer only once, in the 1993 Ram Janmabhoomi case.
Current Reference
- The latest reference arises from a Supreme Court judgment that imposed timelines for Governors and the President to act on bills passed by State legislatures and made such decisions subject to judicial review.
- The President has referred 14 questions, mainly about interpreting Articles 200 and 201, including:
- Whether courts can prescribe timelines not specified in the Constitution.
- Whether the actions of Governors and the President on bills can be justiciable before a bill becomes law.
- The extent of the Supreme Court’s powers under Article 142.
- The reference reflects ongoing political disputes between the Union government and Opposition-ruled states.
Key Points on Advisory Jurisdiction
- The Supreme Court is not bound to answer a reference and can refuse if the question has already been settled or is outside its purview.
- Article 143 cannot be used as an appellate mechanism to revisit Supreme Court judgments between the same parties; only review powers under Article 137 allow that.
- The advisory opinion is not enforceable but is highly influential in practice.
Conclusion
The advisory jurisdiction under Article 143 serves as a constitutional safety valve for resolving complex legal and constitutional questions of public importance. While not binding, the Supreme Court’s opinions under this provision play a crucial role in shaping constitutional practice and resolving disputes between different branches of government