UPSC Prelims Bits For Today July 19, 2022 | Important Current Affairs in Brief Form For UPSC Prelims

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”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.

Currency’s Exchange Rate?

What determines a currency’s exchange rate?

The price of any currency in a market economy is determined by supply and demand.
The supply of a country’s currency in the foreign exchange market is determined by various factors such as central bank policy and the local demand for imports and foreign assets.
The demand for a country’s currency, on the other hand, is determined by factors such as central bank policy and the foreign demand for exports and domestic assets.

Present Bail Law in India

What is the present bail law in India?

Bail is governed by provisions in the CrPC.
Offences are categorised as bailable and non-bailable.
Under Section 436, bail is a right in bailable offences and the police or court is bound to release the accused following the furnishing of a bail bond, with or without surety.
For a non-bailable offence, an accused cannot claim bail as a right.
The discretion lies with the courts. Section 437 sets out the circumstances in which courts can grant bail for non-bailable offences.
The provision mandates the court to consider granting bail to an accused below 16 years, someone who is sick, or is a woman.

Relevance Of Shanghai Cooperation Organisation(SCO) for India

How SCO is Relevant for India?

India acquired the observer status in the grouping in 2005 and was admitted as a full member in 2017.
Through the years, the SCO hosts have encouraged members to use the platform to discuss differences with other members on the sidelines.
India is also a part of the ‘Quadrilateral’ grouping with the U.S., Japan and Australia.
Its association with the grouping of a rather different nature is part of its foreign policy that emphasises on principles of “strategic autonomy and multi-alignment”.

Extended Fund Facility (EFF)

What is IMF’s EFF?

When a country faces a serious medium-term balance of payments problems because of structural weaknesses that require time to address, the IMF can assist through an Extended Fund Facility (EFF).
Compared to assistance provided under the Stand-by Arrangement, assistance under an extended arrangement features longer program engagement—to help countries implement medium-term structural reforms—and a longer repayment period.
An EFF provides support for comprehensive programs including the policies needed to correct structural imbalances over an extended period.