📰 Experimental vaccine may protect against HIV
•Scientists have developed a novel vaccine candidate that may prevent HIV infection by stimulating an immune response against sugars that form a protective shield around the virus.
•“An obstacle to creating an effective HIV vaccine is the difficulty of getting the immune system to generate antibodies against the sugar shield of multiple HIV strains,” said Lai-Xi Wang, a professor at the University of Maryland in the U.S. “Our method addresses this problem by designing a vaccine component that mimics a protein-sugar part of this shield,” said Mr. Wang.
•Researchers designed a vaccine candidate using an HIV protein fragment linked to a sugar group. When injected into rabbits, the vaccine candidate stimulated antibody responses against the sugar shield in four different HIV strains.
•The protein fragment of the vaccine candidate comes from gp120, a protein that covers HIV like a protective envelope. A sugar shield covers the gp120 envelope, bolstering HIV’s defences. The rare HIV-infected individuals who can keep the virus at bay without medication typically have antibodies that attack gp120.
Small fragment
•Researchers tried to create an HIV vaccine targeting gp120, but had little success as the sugar shield on HIV resembles sugars found in the human body and does not stimulate a strong immune response. Over 60 strains of HIV exist and the virus mutates. As a result, antibodies against gp120 from one HIV strain will not protect against other strains.
•small fragment To overcome these challenges, researchers focused on a small fragment of gp120 protein that is common among HIV strains.
📰 India ships wheat to Afghanistan via Chabahar
New route being used for first time to send consignment
•Days after hosting U.S. Secretary of State Rex Tillerson, India on Sunday began shipment of wheat to Afghanistan through the Iranian port of Chabahar.
•A press release from the Ministry of External Affairs (MEA) noted that the consignment would be the first to use the new route via Chabahar to access Afghanistan, even as India plans similar transfers in the coming months.
A landmark
•“The shipment of wheat is a landmark moment as it will pave the way for operationalisation of the Chabahar port as an alternative, reliable and robust connectivity for Afghanistan. It will open up new opportunities for trade and transit from and to Afghanistan and enhance trade and commerce between the three countries (India, Iran and Afghanistan) and the wider region,” said the MEA statement.
•The consignment was flagged off by External Affairs Minister Sushma Swaraj and her Afghan counterpart Salahuddin Rabbani through a joint video conference.
•The statement noted that Sunday’s transfer was part of India’s commitment to send 1.1 million tonnes of wheat to Afghanistan on grant basis.
•It pledged that Kabul will receive the entire amount in six different instalments over the coming months. The move is significant as it indicates India remains firm in delivering on its regional commitment through partnership with Iran, despite Tehran’s ongoing tension with the United States.
Modi tweets
•Marking the occasion, Prime Minister Narendra Modi took to social media and said, “I congratulate Afghanistan and Iran on Indian wheat shipment being flagged off from Kandla to Afghanistan through Chabahar.” During Mr. Tillerson’s October 24-25 visit, he noted India’s close cooperation with Iran on the use of Chabahar and said that despite bilateral problems with Tehran, the United States had nothing against “legitimate business” with Iran.
•He also supported India’s development assistance to Afghanistan. President Ashraf Ghani, who was in the capital at the same time, had urged Pakistan to allow transit of goods from India through its territory.
•However, the use of Chabahar for wheat transhipment indicates the firming up of an alternative route to extend necessary support to Afghanistan, in the absence of overland transit rights by Pakistan.
📰 Law panel wants more autonomy for tribunals
Suggests CJI-led body to oversee postings
•In a strong message to the government that appointments to tribunals and their functioning should remain independent of the executive's influence, the Law Commission of India has recommended that a Committee led by the Chief Justice of India should be in charge of the appointments of Chairman, Vice-Chairman and Judicial Members of the various central tribunals, which form a pillar of the country's justice delivery system.
•“While making the appointments to the Tribunal, it must be ensured that independence in working is maintained,” the report of the Commission, led by former Supreme Court judge, Justice (retired) B.S. Chauhan, said in its report to the government.
Specialised role
•The tribunals perform an important and specialised role in justice mechanism. They take a load off the already over-burdened courts. They hear disputes related to the environment, armed forces, tax and administrative issues
•The Commission has suggested a common nodal agency, possibly under the Law Ministry, to both monitor the working of the tribunals and to ensure uniformity in the appointment, tenure and service conditions for the Chairman, Vice-Chairman and members. As of now, tribunals function under the very government department which may be a litigant before them, and probably, against which they may have to pass orders.
•Every order emanating from the tribunal or its appellate forum, wherever it exists, attains finality, the Commission recommended.
HC power to review
•In a marked departure from its earlier stand, the Commission recommended the restoration of the High Courts’ power of judicial review over the decisions of the tribunals.
•“The power of judicial review conferred on the High Courts is same as that of the Supreme Court, which is a basic feature of the Constitution and tinkered with only by amending of the Constitution,” the report said.
•It said parties should be allowed to challenge a tribunal order before the Division Bench of the high court having territorial jurisdiction over the tribunal or its appellate forum. Presently, parties are deprived of an opportunity to move high courts concerned against the orders of some tribunals and have to move the Supreme Court directly.
📰 Set up centres under all High Courts for vulnerable victims: SC
At least two special deposition centres must be set up within 3 months
•Vulnerable witnesses in criminal cases, often minor survivors of rape or victims of sex abuse, should testify without fear or intimidation in a conducive environment, the Supreme Court has said.
•Concerned at the trauma these victims of crime face in conventional courtrooms, the Supreme Court has ordered the setting up of at least two vulnerable witnesses deposition centres in the jurisdiction of every High Court across the country within the next three months. The order upholds the right of vulnerable witnesses to be protected while testifying in court and is in consonance with international norms in these matters.
•A Bench of Justices A.K. Goel and U.U. Lalit found that vulnerable witnesses are often treated like any other witness of the State in a criminal trial. Victims often end up being ill-treated by the very system they had approached in the hope of justice. Delay and intimidating questions during trial in a hostile environment lead to fewer convictions.
Friendly atmosphere
•Setting aside the acquittal by the high court of a child rapist, the Bench acknowledged the arguments for more vulnerable witness deposition complexes across the country made by its amicus in the case, advocate Shirin Khajuria. “There should be special centres for examination of vulnerable witnesses in criminal cases in the interest of conducive environment in court so as to encourage a vulnerable victim to make a statement,” the Bench noted in its order.
•The Bench said eventually every district should have a special centre, which would provide vulnerable witnesses a friendly atmosphere to testify. The Supreme Court referred to the Delhi High Court’s initiative to set up vulnerable witnesses deposition centres and issuance of guidelines.
‘Adopt guidelines’
•The Bench suggested that other high courts should adopt the Delhi HC’s ‘Guidelines for Recording the Evidence of Vulnerable Witnesses in Criminal Matters,’ with required modifications. The Delhi HC’s guidelines are filtered from the best practices followed by other countries and the police and precedents of the apex court and high courts.
•The practices include a screen or some arrangement by which the victim does not see the body or face of the accused; reducing cross-examination questions to writing and handing them over to the judge to be put to the victim in a language that is clear and not embarrassing; and sufficient breaks for victims of child abuse or rape while testifying.
•The Bench recommended that the high courts trigger the initiative with at least two centres in the next three months. But they must not stop with that and continue to set up more such centres.
📰 Multilateral subjects set to top talks with Italy
India’s push for membership of the Nuclear Suppliers Group and bilateral trade are likely to be on the agenda
•A range of multilateral and bilateral subjects are likely to be in focus during the visit of Italian Prime Minister Paolo Gentiloni that begins on Monday.
•The visit, which comes after both sides managed to contain the diplomatic fallout of the marines crisis, is for a day. Diplomats indicated that India’s global push for the Nuclear Suppliers Group (NSG) membership and bilateral trade are likely to be on top of the agenda.
•During the visit, Mr. Gentiloni will meet with External Affairs Minister Sushma Swaraj and Prime Minister Narendra Modi, following which a number of bilateral agreements are to be signed in the Hyderabad House. Mr. Gentiloni is also scheduled to deliver a lecture at the Observer Research Foundation on Monday evening and hold talks with President Ram Nath Kovind and Vice President Venkaiah Naidu.
Natural partners
•Italy’s support for India’s candidature at the Missile Technology Control Regime (MTCR) in 2016 was an important marker in multilateral collaboration and indicated Rome’s long-term commitment to supporting India’s role in the export control regimes.
•“Italian supportive role in the EU and NSG will help our cause with the EU-India FTA (Free Trade Agreement) and our bid for NSG membership. Italy and India are natural partners and this partnership must be allowed to take free flight,” said former ambassador to Rome Anil Wadhwa, indicating that the support will boost India’s campaign for membership in the global nuclear suppliers club. India’s bid for membership at the NSG has so far been scuttled by repeated opposition from China.
•However, sources indicated that apart from the NSG, India is also seeking Italian support at the FATF (Financial Action Task Force) meeting that begins on Monday in Buenos Aires, where India has been pushing for stringent measures against Pakistan on terror funding issues.
A difficult phase
•The visit by an Italian PM comes after a decade. The period from 2012 to 2016 marked a difficult bilateral phase as the marines issue, which included two of Rome’s marines became a national debate in Italy.
•The case is now with the International Court of Justice, where a round of arbitral proceedings is expected to be completed by 2018.
•However, several meetings were held between the two sides as political ties warmed up following the change of government in Delhi in 2014. In July 2017, Prime Minister Narendra Modi met Mr. Gentiloni on the sidelines of G20 summit in Hamburg. Prior to that, External Affairs Minister Sushma Swaraj met him on 4 September 2016 when he was the foreign minister.
•Apart from the expected issues, Italy and India may also discuss the tension between the U.S. and Iran after President Donald Trump decertified the nuclear deal with Iran, where both Italy and India have strong contacts. As one of the signatories in the nuclear deal, Italy’s role is crucial in this matter.
📰 Why companies use commercial papers as a source of funds
•Commercial papers have become one of the popular routes for corporates to raise funds when compared with loans from banks in recent times. Here is all you need to know about commercial papers.
What is a commercial paper?
•A commercial Paper (CP) is an unsecured loan raised by firms in money markets through instruments issued in the form of a promissory note. CPs can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue.
What is the current scenario in the banking system?
•Anil Gupta, vice president and sector head-financial sector ratings, ICRA, pointed out that the glut in bank deposits post demonetisation has resulted in surplus liquidity in the banking system with more than Rs. 1 trillion being parked by banks under reverse repo (currently at 5.75%) with RBI the during September 2017.
•While the deposit inflows (8.5% growth year-on-year in September 2017) have been strong, credit growth has remained weak for banks (7% year-on-year in September 2017). This has also resulted in surplus liquidity, he added.
Why are CPs popular?
•Because of surplus liquidity, short-term borrowing rates in money markets have significantly declined post demonetisation and are much lower than the lowest benchmark lending rates of the banks, Mr. Gupta said. For example, the benchmark lending rates is 7.75% for SBI. On the other hand, the lowest rate at which commercial papers were issued during October was at 6%, he added.
•Because banks cannot lend below the benchmark lending rates, firms with good ratings havepreferred to meet short-term working capital requirements through commercial papers at lower-than-bank rates.
Will this spike in commercial papers be sustained?
•Issuance of commercial papers will continue to remain strong till there is surplus liquidity in banks and short-term rates continue to be significantly lower than benchmark lending rates of the banks, Mr. Gupta said.
•He also noted that a bank or mutual fund with surplus temporary liquidity will prefer to subscribe to commercial papers and earn a slightly higher return in the short-term than parking funds under reverse repo.
•Roughly 33% of outstanding commercial papers have been subscribed to by banks.
What are the advantages of issuing CPs?
•Apart from being a cheaper source of funds, it helps meet funding requirements relatively quickly for better-rated corporates. Procedural requirements for securing bank facilities and charge creation on assets is not required.
What are the key challenges with CPS?
•As the CP is an unsecured loan, the investor in commercial papers largely prefers highly-rated corporates or public sector entities in terms of credit rating. Lender appetite is limited to better rated companies.
•Also commercial paper markets can be seasonal and vulnerable to liquidity conditions. In case of sudden tightening of liquidity, a firm’s ability to secure funding can be challenged. Within the year, liquidity conditions can become tight in certain months such as the end of a quarter, because of advance payment of taxes and the like. At such times, funding costs can also rise for the issue of CPs.
📰 Questions over delay
A fresh procedure for appointing judges should be evolved by consensus
•The move by the Supreme Court to seek an explanation from the government about the delay in finalising a fresh Memorandum of Procedure (MoP) for the appointment of judges in the higher judiciary raises more questions than answers. We do not know, for instance, what is holding up the process. It is not clear whether the government and the five-member Supreme Court Collegium have been unable to agree on some significant aspects of the MoP. It is possible that the consultative process has broken down and the government requires a nudge from the court to both explain the delay and expedite the process. The matter came to the highest court after the Delhi High Court dismissed an advocate’s challenge to the appointment of judges without a new MoP being finalised as per the Supreme Court’s December 2015 order. The two-judge Bench hearing an appeal agreed with the high court, but wanted to consider a related prayer — that there should be no further delay in finalising the MoP and that it should provide for a mechanism to avoid any undue delay in the appointment of chief justices for the various high courts. At present, seven high courts have only acting chief justices. The Centre must use this opportunity to throw some light on the status of the consultation between the government and the Collegium. The delay in finalising a fresh procedure for appointments is a cause for concern, as vacancies in the high courts have continued to increase while the pace at which new judges are being appointed remains sluggish.
•What is really worrisome is that two issues may come to be seen as deliberately inter-linked: the delay in evolving a fresh procedure and the perceived tardiness in clearing and making fresh appointments. In the two years since legislation seeking to create a National Judicial Appointments Commission was struck down by a Constitution Bench, there have been many instances of incumbent Chief Justices of India voicing dismay and anguish over the rising number of vacancies. Mercifully, these potential flashpoints did not turn into full-blown conflicts. This was possible because the appointments process, though slow, was never stopped and the recommendations of the Collegium were being processed and cleared by the Centre. That the same issue should crop up repeatedly is not a good sign. When it is agreed in principle that having a fresh and transparent appointments process is vital to institutional reform, it would be unfortunate if the two sides are seen as being obdurate and inflexible on the new MoP. A judicial direction to the government to notify a procedure approved by the Collegium will be an easy way out, but it will not do anything to address the problem of judicial primacy being seen as detrimental to judicial accountability. A consensus on this matter will be far more conducive to the public interest.
📰 The new great game as it unfolds
Geopolitical interests in Southern Asia are complex — India must keep evaluating the U.S. grand strategy
•Southern Asia is all set to witness the unfolding of several new geopolitical gambits. The U.S. appears to have found a new strategic balance in the region; China is pushing its way through the great American wall in Southern Asia; the ‘cold war’ between Kabul and Rawalpindi seems to be getting frostier by the day; Pakistan is focussed on several strategic moves; and New Delhi is looking to navigate various regional dilemmas and strategic indeterminacies. The stage is set for a new great game.
•The flurry of American activities, including the recently concluded visit by Secretary of State Rex Tillerson, indicates Washington’s last-ditch attempt to regain control, and pre-eminence, over a region which is being pulled in conflicting directions, much to the discomfort of the U.S. administration. In doing so, Washington views New Delhi as the centrepiece of its regional grand strategy. New Delhi would do well to carefully, and constantly (re)consider its options vis-à-vis the U.S. grand strategy in Southern Asia.
Afghan calculations
•Despite its initial reluctance, Washington is back to the Afghan chess table with renewed vigour — Mr. Tillerson and his colleagues in the Trump administration realise that an inability/unwillingness to get back in the game could potentially render them insignificant in the years ahead.
•Having been militarily outsmarted by the Taliban in the recent past, the U.S. has renewed efforts to hunt down the Taliban leadership with the eventual aim of bringing them to the negotiating table as well as checking Rawalpindi’s influence in the country, something Afghan President Ashraf Ghani would deeply appreciate. Washington and Kabul have expressed a desire to enlist New Delhi’s support to do so. For Washington, courting New Delhi is also useful in balancing the increasing Chinese presence in the region, including in Afghanistan.
•Moreover, the U.S. probably views its Afghan engagement as a face saver in the midst of its steady decline in Asia and President Donald Trump’s lack of credibility and standing abroad — hence there’s likely to be a lot of focus on Afghanistan in the days ahead. In a way, then, the U.S.’s unsavoury statements about Pakistan are intended to woo India to cooperate closely on Afghanistan. But make no mistake, the U.S. is also courting Pakistan in pursuit of its strategic objectives in the region, its anti-Pakistan rhetoric notwithstanding.
Contradictions in U.S. policy
•Shorn of the rhetoric and the feel-good melodrama, something every government in New Delhi has a strong liking for, a cold, closer look at the U.S. policy towards Southern Asia shows several inherent contradictions. Consider, for instance, the American strategy of courting India to counter Pakistan in Afghanistan, and engaging India and Pakistan to checkmate China in the region, while at the same time viewing China’s role in Afghanistan as that of a potential stabiliser. Certainly, strategic engagement of a conflict-ridden region can never be a straightforward affair — yet the balancing of these contradictions can throw up unanticipated surprises.
•Even as India takes delight over the American tirade against Pakistan, it is important to place the U.S.’s relationship with Pakistan in the correct historical and geopolitical perspective. The U.S. has had a deeply puzzling love-hate relationship with Pakistan since the Soviet intervention in Afghanistan in 1979 through to 2001, and thereafter. Pakistan is not only aware of it but also knows how to make use of it. The indispensability of this relationship needs to be properly understood by India when fashioning its own response.
•We must also be aware that the absence of long-term commitments is one of the central features of American foreign policy. U.S. strategy has been susceptible to domestic, electoral, geopolitical and other determinants, and it has been no less so in the Southern Asian context. While being on the same side of the reigning hegemon is smart statecraft, a failure to cater for alternative futures would be shortsighted. International politics disincentivises blind loyalty.
•“Terror havens will not be tolerated,” Mr. Tillerson declared at a joint press conference with External Affairs Minister Sushma Swaraj, echoing similar statements emanating from the Trump administration in the past weeks. Ms. Swaraj joined in by underlining that Pakistan must dismantle the terror infrastructure on its soil. Washington’s hard talk on terror is welcome, but here again, one should not be deluded into thinking that the U.S. will punish Rawalpindi for not acting against India-specific groups in Pakistan. The focus is on groups fighting against Afghanistan where U.S. soldiers often get caught in the crosshairs of the Pakistan Army’s manoeuvres. Recall that there was no reaction from Washington when Islamabad decided to drop terror charges against Jamaat-ud Dawah chief Hafiz Saeed.
The China conundrum
•China is the new kid on the block in the Southern Asian strategic landscape — challenging American hegemony in the region, willing to build peace and mine minerals in Afghanistan, pushing India into a tight corner in its own traditional backyard, and selling dreams of inter-regional connectivity and economic prosperity to a conflict-ridden, impoverished and under-linked region. Chinese President Xi Jinping’s bold declaration at the recently-concluded 19th Party Congress that China intends to emerge stronger in the world stage indicates its new geopolitical resolve.
•There is only so far the U.S. can ignore China’s overtures, and there is only so much India can do to match the Chinese sales pitch. The dividends are already in sight. For instance, China is emerging as a key player in Afghanistan. The potential revival of the Quadrilateral Coordination Group (comprising U.S., China, Pakistan and Afghanistan) shows just that. It’s a matter of time before the U.S. utilises China’s potential to serve its interests in Afghanistan. After all, national interests matter above all else.
•Mr. Ghani stated last week that Afghanistan would not join the China-Pakistan Economic Corridor if Pakistan refuses to permit connectivity between India and Afghanistan. New Delhi must appreciate Mr. Ghani for being a true friend, but let’s be realistic: Pakistan is unlikely to allow overland connectivity between Afghanistan and India through its territory, nor will Mr. Ghani jeopardise Afghanistan’s relationship with China by insisting on bringing India on board.
•Clearly, the emerging geopolitical landscape in the region requires deft handling by New Delhi. It should consider participating in Afghan peace talks while being conscious of its redlines and ability vis-à-vis Afghanistan. New Delhi should stick to its decision not to send troops to Afghanistan while at the same time enhancing its training of Afghan security forces and reconstruction efforts.
Much potential
•Second, we must be able to see through complicated American geopolitical signalling in the Southern Asian region. To reduce complex American geopolitical signalling to binary equations vis-à-vis Pakistan or China would be a grave mistake. Third, New Delhi needs to carefully design the contours of its China policy: aligning our China policy to suit U.S. interests would not help our long-term interests. Recall that the U.S. kept a studied silence through the Doklam stand-off and the issue hardly figured in the public statements during Mr. Tillerson’s recent visit. Fourth, Russia is not only an unavoidable traditional ally of India but it is in fact increasing its stakes in the region, including in Afghanistan, with close strategic ties with China, and increasingly with Pakistan. Let not the sound of what we would like to hear from Washington distract our attention from the strategic realities of the neighbourhood.
•Finally, both geo-economically and geopolitically, the Indo-Pacific region remains pregnant with potential and possibilities for New Delhi. This is one crucial area where New Delhi and Washington, along with other regional stakeholders such as Tokyo and Canberra, could synergise political, diplomatic and military efforts to “uphold rule-based rights of navigation and overflight in the area” and promote free trade in the broader region.
