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News In Short 23-03-2026

Context

  • The entry of generic versions of Semaglutide in India has reduced prices significantly, improving affordability for patients with Type 2 Diabetes and obesity.

    • About Semaglutide

  • Semaglutide is a GLP-1 (glucagon-like peptide-1) receptor agonist used for;
  • Glycaemic control in diabetes.
  • Weight management in obese patients.

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    Corporate Governance in India: From Compliance to Conscience

    Context

  • The recent resignation of part-time chairman of HDFC Bank, Atanu Chakraborty  citing “ethical incongruence” has reignited debate on personal vs professional ethics, transparency, and corporate governance in India’s financial sector.

    • Ethics in Corporate Governance

  • Corporate Governance refers to the system of rules, practices, and processes by which a company is directed and controlled.
  • Ethics in governance goes beyond legality to include integrity in decision-making, accountability to stakeholders, transparency in disclosures and fairness in operations.
  • Ethical governance ensures that organizations act not just within the law, but in alignment with moral values and stakeholder trust.

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    Aligning India’s Accounting Education with Global Standards

    Context

  • India’s increasing integration into the global financial system has created demand for professionals proficient in international accounting frameworks such as IFRS and U.S. GAAP.

    • Background

  • International Financial Reporting Standards (IFRS) is a globally accepted accounting framework developed by the International Accounting Standards Board (IASB) and is followed by over 140 countries.
  • US Generally Accepted Accounting Principles (US GAAP) is a rules-based framework primarily developed and maintained by the Financial Accounting Standards Board (FASB) and used by companies operating or listed in the United States.
  • India follows Ind AS, which are largely converged with IFRS but include certain modifications to suit domestic regulatory and economic conditions.

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    Is Compulsory Voting Feasible in the Indian Context?

    Context

  • Recently the Chief Justice of India made the observation that India may need to explore a mechanism for compulsory voting to enhance voter participation and strengthen democratic engagement.

    • Right to Vote in India

  • Article 326 of the Indian Constitution provides that every citizen of India, not less than 18 years of age is entitled to be registered as a voter for Elections to the House of the People and Legislative Assembly of every State on the basis of adult suffrage.
  • However, voting is a statutory right, not a fundamental right (as held by the Supreme Court of India in various judgments).

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    Supreme Court Push for Prison Reforms

    Context

  • The Supreme Court of India has directed all States and Union Territories to submit updated and comprehensive data on prison conditions, in a suo motu case on inhuman conditions in prisons.

    • Directions Issued by the Supreme Court

  • The Court has directed States to specify both ongoing and proposed measures to address overcrowding.
  • It has also emphasized the need to ensure education, healthcare, and welfare of children living with incarcerated mothers.
  • The Court has directed States to provide details of sanctioned staff strength, vacancies, and steps taken for recruitment.

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