UPSC Prelims Bits For Today (August 06, 2022) | Important Current Affairs in Brief Form For UPSC Prelims

”UPSC Prelims Bits For Today” is every day published in the morning between 11:00 AM to 12:00 Noon and contains selective current affairs articles. ”UPSC Prelims Bits For Today” covers various topics from UPSC Prelims Syllabus and is very helpful and time managing for UPSC Aspirants. The framing of this daily current affairs compilation article is easy to read and understandable also.

In the ”UPSC Prelims Bits For Today” article, we focus on UPSC Preliminary exam-oriented current affairs covering various sections from leading National Newspapers, PIB, and other various official sources.

Bond vs G-Sec

What is a Bond?

• A bond is a debt instrument in which an investor loans money to an entity (typically corporate or government) which borrows the funds for a defined period of time at a variable or fixed interest rate.
• Bonds are used by companies, municipalities, states and sovereign governments to raise money to finance a variety of projects and activities. Owners of bonds are debt holders, or creditors, of the issuer.

What is a Government Security (G-Sec)?

• A Government Security (G-Sec) is a tradeable instrument issued by the Central Government or the State Governments.
• It acknowledges the Government’s debt obligation. Such securities are short term (usually called treasury bills, with original maturities of less than one year) or long term (usually called Government bonds or dated securities with original maturity of one year or more).
• In India, the Central Government issues both, treasury bills and bonds or dated securities while the State Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs).
• G-Secs carry practically no risk of default and, hence, are called risk-free gilt-edged instruments.

”Parliamentary Privilege of MPs”

What are parliamentary Privileges?

Each House of Parliament collectively and the Members individually, enjoy certain powers and privileges without which they may not be able to discharge their functions, efficiently and effectively. Article 105 of the Constitution deals with such powers, privileges and immunities of Members of Parliament.

What is the difference between the ‘Breach of Privilege’ and ‘Contempt of the House’?

When any of the privileges either of the Members individually or of the House in its collective capacity are disregarded or attacked by any individual or authority, the offence is called a breach of privilege.
Any obstruction or impediment put before Houses or its Members in due discharge of their duties, or which have a tendency of producing such result, may amount to contempt of the House.

”Panel Of Vice-Chairmen Of Rajya Sabha”

• The Vice-President holds office for a term of five years from the date on which he enters upon his office.
• Under Rule 8 of the of Procedure and Conduct of Business in the Council of States (Rajya Sabha), the Chairman, Rajya Sabha nominates six members on the panel of Vice-Chairmen, one of whom presides over the House in the absence of both the Chairman and the Deputy Chairman.
• When neither the Chairman nor the Deputy Chairman and none of the Vice Chairmen is present to preside, the House may decide about any other member present to preside.

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