Section 6(2)(i) of the Act authorizes the NDMA (National Disaster Management Authority), headed by the prime minister, to take measures for the prevention of disaster, or the mitigation, or preparedness and capacity building for dealing with the threatening disaster situation or disaster as it may consider necessary. The Act also provisions for a national executive authority, which exercises powers to issue guidelines that, will be in effect during the lockdown.
The other alternative could have been imposing emergency,,which could have given a unitary structure to the country, allowing the country to override state directives.
A state of emergency in India refers to a period of governance under an altered constitutional setup that can be proclaimed by the President of India, when they perceive grave threats to the nation from internal and external sources or from financial situations of crisis. Under the advice of the cabinet of ministers and using the Constitution of India, the President can overrule many provisions of the constitution, which guarantee fundamental rights to the citizens of India and acts governing devolution of powers to the states which form the federation. In the history of independent India, a state of emergency has been declared thrice.
The first instance was between 26 October 1962 to 10 January 1968 during the India-China war, when the security of India was declared as being threatened by external aggression. The second instance was between 3 December 1971 to 21 March 1977, which was originally proclaimed during the Indo-Pakistan war.
Denne historien er fra May 2020-utgaven av BANKING FINANCE.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra May 2020-utgaven av BANKING FINANCE.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Fraud Risk Management In Banking
Fraud risk management is a fundamental aspect of overall Risk Management within the banking sector. In India, banks adhere strictly to guidelines set forth by the Reserve Bank of India (RBI) to prevent, detect, and promptly report fraudulent activities.
Will Brick-andMortar Banks Get Schooled by FinTech Startups? The Talent War for India's Banking Future
The Indian banking sector is on the cusp of a transformation. FinTech startups are revolutionizing the industry with innovative products, seamless digital experiences, and a culture of agility. But this disruption extends beyond just technology.
Beyond the Rate Hike: Understanding the effects of Monetary Policy Tightening in India
Globally Inflation started rising post April 2021 and went above the target range set by most of the Central Banks. It had remained low and dormant for a substantial duration since the global financial crisis. CPI inflation in developed countries such as US, UK and Euro zone, began to exceed their traditional target of 2% and continue to stay at these elevated levels till recent time.
MSMEs - The Unsung Heroes of India's Economic Journey
Micro, Small, and Medium Enterprises (MSMEs) are the lifeblood of India's economy, contributing significantly to GDP, employment, and exports. Their ability to adapt, innovate, and create opportunities has propelled India towards becoming a global economic powerhouse.
The Role of Sustainable Marketing in Modern Business Practices
The landscape of business is evolving with a growing emphasis on sustainability. Sustainable marketing, which integrates environmental and social responsibility into business practices, is gaining traction as a critical approach for companies aiming to align with the values of modern consumers.
Transforming Indian Banks: How Generative AI is Redefining Marketing
In the fast-paced world of finance, marketing strategies have evolved greatly, using the latest technologies to effectively reach and engage customers. Among these technologies, Generative Artificial Intelligence (AI) stands out as a game-changer.
Legal News
No GST on Fines and Penalties Collected by RBI, Rules Maharashtra AAR
Frauds in Banking Sector and Role of AI in Fraud Management
The banking sector, a cornerstone of the Indian economy, plays a critical role in driving financial inclusion and stability. However, it has not been immune to fraudulent practices, which jeopardize not only the financial institutions but also the trust of the populace.
RBI CIRCULAR
Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Banking and Financial Services: Paving the Way for India's Development
The adoption of digital payments through platforms like the Unified Payments Interface (UPI) has made cashless transactions a norm. The rapid growth of fintech has democratized access to financial products, making it easier than ever for people across the country to manage their finances.