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How cashless societies can boost financial inclusion – with the right safeguards

Posted on by SAT News Desk

Thankom Arun, University of Essex

Cashless societies, where transactions are entirely digital, are gaining traction in many parts of the world, particularly after a pandemic-era boom in demand for online banking.

Improvements in digital payment infrastructure such as mobile payments, digital currencies and online banking, make it more convenient for people and businesses to buy and sell things without using cash. Even the Bank of England is looking into how a digital pound might work, showing the potential for a significant shift from physical cash to digital payments in the UK.

Fintech companies have accelerated the transition towards cashless payments with innovations including mobile payment apps, digital wallets, cryptocurrencies and online banking services. The COVID pandemic was also a tipping point that created unprecedented appetite for digital transactions. Fintechs emerged as a life line for many during lockdowns, particularly vulnerable populations that needed emergency lines of credit and ways to make and receive payments.

By 2021, approximately 71% of adults in developing countries had bank accounts. But this leaves nearly 30% of the population still needing access to essential financial products and services. Fintechs can provide more affordable and accessible financial services and products. This helps boost financial inclusion, particularly for the “unbanked”, or those without a bank account.

In the UK, around 1.3 million people, roughly 4% of the population, lack access to banking services. The government and financial institutions have worked together to promote the adoption of digital payments, and the UK’s Request to Pay service allows people and businesses to request and make payments using digital channels such as Apple Pay and Google Pay.

But other countries are moving faster towards a cashless society. In Sweden, only about 10% of all payments were made in cash in 2020. This move towards cashless payments in the country has been facilitated by mobile payment solutions like Swish, which people can use to send and receive money via mobile phone.

Boosting financial inclusion

India has gone even further. In less than a decade, the country has become a digital finance leader. It has also made significant progress in promoting digital financial inclusion, mainly through the government’s flagship programme, the Pradhan Mantri Jan Dhan Yojana (PMJDY).

India’s banks also participate in mobile payment solutions like Unified Payments Interface (UPI), which can connect multiple accounts via one app. India’s digital infrastructure, known as the India Stack also aims to expand financial inclusion by encouraging companies to develop fintech solutions.

Many developing economies are using digitalisation to boost financial inclusion in this way. Kenya introduced its M-Pesa mobile money service in 2007. While microfinance institutions that provide small loans to low-income individuals and small businesses were first introduced in Bangladesh in the 1970s via the Grameen Bank project.

Digital lending has also grown in India in recent years. Its fintechs use algorithms and data analytics to assess creditworthiness and provide loans quickly and at a lower cost than traditional banks.

These innovative platforms have helped to bridge the gap between the formal financial system and underserved populations – those with low or no income – providing fast access to financial services. By removing barriers such as high transaction costs, lack of physical branches and some credit history requirements, fintech companies can reach a wider range of customers and provide financial services that are tailored to their needs.

It’s the tech behind these systems that helps fintechs connect with their customers. The increased use of digital payment methods generates a wealth of data to gain insights into consumer behaviour, spending patterns and other relevant information that can be used to further support a cashless society.

Helping the UK’s unbanked

Countries like the UK could also promote digital financial inclusion to help unbanked people. But this would require a combination of government support, innovation and the widespread adoption of mobile payment solutions.

There are some significant challenges to overcome to create a true – and truly fair – cashless economy. For example, a cashless system could exclude people who do not have access to digital payment methods, such as the elderly or low-income populations. According to a recent study by Age UK, 75% of over 65s with a bank account said they wanted to conduct at least one banking task in person at a bank branch, building society or post office.

Providing more cashless options could also increase the risk of cybercrime, digital fraud such as phishing scams and data breaches – particularly among people that aren’t as financially literate.

There is a dark side to fintech: algorithm biases and predatory lending practices negatively affect vulnerable and minority groups as well as women. Even major financial firms such as Equifax, Visa and Mastercard can get compromised by data breaches, creating valid concerns about data security for many people.

Cross-border transfer of personal data by fintech companies also concerns regulators, but there is still a lack of internationally recognised data protection standards. This should be addressed as the trend towards cashless societies continues.

Two hands hold a fan of GBP banknotes: £5, £10, £20, £50.

Regulations affect how fintech companies can provide financial services but ensure they operate within the law. Since fintech companies generally aim to disrupt markets, however, this can create a complex relationship with regulators.

Collaboration between regulators and fintech companies will boost understanding of these innovative business models and help shape future regulatory frameworks. Countries like India have shown the way in this respect. An innovation hub run by UK regulator the Financial Conduct Authority is a good start. It supports product and service launches and offers access to synthetic data sets for testing and development.

Fintech can help finance become more inclusive. But it needs policies and regulations that support innovation, promote competition, ensure financial stability and – most importantly – to help protect the citizens of these new cashless societies.

(From – The Conversation )

Scientists Uncover How Brain Strengthens Memories During Sleep, Offering Hope for Memory Impairment

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Researchers from Tel Aviv and California have made a significant breakthrough in understanding how the human brain strengthens memories during sleep. The findings hold promise for individuals suffering from memory impairments, including dementia.

Led by Dr. Maya Geva-Sagiv, currently at the University of California, Davis, in collaboration with Professors Yuval Nir of Tel Aviv University and Itzkak Fried of TAU and UCLA, the study reveals that memory consolidation during sleep involves coordination between the hippocampus and frontal cortex. Furthermore, the researchers were able to enhance memory consolidation by utilizing deep-brain stimulation techniques during sleep.

The research, published in the peer-reviewed journal Nature Neuroscience, sheds light on the mechanisms behind memory consolidation during sleep and provides potential avenues for therapeutic interventions.

To test their hypothesis, the team implanted electrodes in the brains of 18 epilepsy patients, enabling advanced brain stimulation techniques to be employed. By using a specialized stimulation protocol, they improved synchronization between the hippocampus and frontal cortex, enhancing memory consolidation.

The hippocampus is responsible for acquiring new memories, while the frontal cortex is where long-term memories are stored. By monitoring hippocampal activity during sleep, the researchers were able to deliver precise electrical stimulation to the frontal cortex, thereby boosting memory consolidation.

The participants underwent two memory tests, one after a normal undisturbed night’s sleep and another after receiving deep-brain stimulation during sleep. In the morning, they were asked to recognize pictures of famous individuals they had been shown the previous evening. The results demonstrated that deep-brain stimulation significantly enhanced the accuracy of their memory.

Interestingly, the researchers found that the intervention did not significantly increase the number of correct answers from the participants. Instead, it reduced the number of incorrect responses, suggesting that sleep helps sharpen memory accuracy by eliminating distractions from the relevant memory trace.

Dr. Geva-Sagiv highlighted the significance of the study, stating, “We know that a good night’s sleep is crucial for the consolidation of long-lasting memories, but until now, we had limited evidence about the specific processes at work in the human brain during sleep.” She further explained, “Our objective was to enhance the natural mechanisms involved and gain a deeper understanding of how sleep aids in stabilizing memories.”

These findings provide valuable insights into the intricate workings of memory consolidation during sleep and offer hope for developing new interventions to address memory impairments, including those associated with dementia. The research opens up possibilities for future studies and potential therapies aimed at improving memory function in individuals with cognitive disorders.

Bangladesh, Nepal, and Pakistan Express Displeasure over ‘Undivided India’ Mural in Recently Inaugurated Building

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In a development that has stirred controversy in the South Asian region, the installation of a map depicting ‘Undivided India’ in India’s newly inaugurated parliament building has drawn criticism from neighboring countries, including Bangladesh, Nepal, and Pakistan.

The map, which was unveiled by Indian Prime Minister Narendra Modi last month, includes territories that were historically part of Afghanistan, Pakistan, Nepal, Bangladesh, Sri Lanka, and Myanmar. Bangladesh’s foreign ministry, on Monday, formally requested an explanation from the Indian government regarding the inclusion of the Akhand Bharat, or Undivided India, map in the new parliament building.

Bangladesh’s junior minister for foreign affairs, Shahriar Alam, stated in Dhaka that the Bangladeshi embassy in New Delhi had been instructed to contact India’s foreign ministry to obtain an official explanation on the matter. Alam emphasized that while there was no reason to question the installation of the map, concerns were being expressed by various parties, warranting clarification from the Indian government.

India’s foreign ministry spokesperson, Arindam Bagchi, during a media briefing, offered an interpretation of the mural. Bagchi explained that the map represented the extent of the ancient Mauryan Empire and symbolized the idea of responsible and people-oriented governance espoused by King Ashoka. However, India’s Minister for Parliamentary Affairs, Pralhad Joshi, had referred to the mural as a map of Akhand Bharat during the inauguration ceremony, stirring dissatisfaction among neighboring nations.

Nepal’s former Prime Minister, KP Sharma Oli, criticized India’s inclusion of Nepali territories in the mural, stating that it was unfair for a country like India to depict Nepali lands in its parliament without consent. Oli called on Prime Minister Pushpa Kamal Dahal, who recently visited India, to request the removal of the mural and rectify the perceived mistake. However, reports suggest that the issue was not raised during Dahal’s meetings with Indian Prime Minister Narendra Modi and other officials.

Pakistan also expressed deep concerns about the idea of Akhand Bharat, describing it as an expansionist mindset that aimed to suppress the culture and ideology of neighboring countries as well as religious minorities within India. Pakistani foreign ministry spokesperson, Mumtaz Zahra Baloch, labeled the assertion in the map as a manifestation of this mindset.

So far, Sri Lanka, Afghanistan, and Myanmar have not issued any official statements regarding the ‘Undivided India’ mural.

The controversy surrounding the mural highlights the sensitivities and differing historical interpretations among the countries in the region. The reactions from Bangladesh, Nepal, and Pakistan underscore the need for dialogue and mutual understanding to address such issues and foster harmonious relations in South Asia.

Tragedy on Mount Everest: Inexperienced Climbers and Insufficient Operators Blamed

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Kathmandu witnessed a veteran mountain guide raising concerns about the growing number of weak climbers being led up Mount Everest by expedition operators lacking sufficient experience. This issue comes in the aftermath of one of the deadliest climbing seasons on the world’s highest mountain in recent years.

During this year’s main climbing season, which has just concluded, Mount Everest claimed the lives of at least 12 climbers, while five individuals remain missing and are feared dead. This season’s death toll marks the highest since a devastating earthquake triggered an avalanche in 2015, resulting in the loss of 18 lives.

Guy Cotter, a renowned guide from New Zealand who has successfully climbed Everest five times, spoke out about the problem in Kathmandu, Nepal’s capital. Cotter highlighted that weak clients paired with less experienced operators contribute to the perilous situation on the mountain. He emphasized the importance of establishing minimum climbing standards and requiring proven prior ascents before allowing climbers to attempt Everest.

The fatalities during this climbing season primarily resulted from illness or exhaustion, with three sherpa climbers tragically losing their lives due to falling ice in April. While Nepal regulates Everest climbing and mandates permits for all climbers, Cotter stressed the need for operators to meet minimum standards regarding equipment and staff expertise.

Cotter further criticized certain operators for their lack of understanding in preventing incidents and their inability to address problems effectively when they do occur. He called for improved processes and protocols within the industry to ensure the safety of climbers.

Bigyan Koirala, an official from Nepal’s Department of Tourism responsible for overseeing climbing activities, acknowledged the need for additional regulations. However, no specific details regarding these regulations were provided.

Despite the challenges and risks associated with climbing Everest, the allure of the mountain remains strong. This year, a record number of 478 permits were issued by Nepal for climbers attempting the summit, with hundreds of individuals successfully reaching the pinnacle of Mount Everest.

Plastic Roads – A Path Worth Paving? Global Concerns Over Plastic Waste and South Asia’s Struggle

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Plastics have become an integral part of our daily lives, but their production and disposal have posed significant challenges. With global plastic production reaching unprecedented levels, the world is grappling with the impending plastic waste crisis. According to alarming statistics, the amount of plastic waste produced globally is projected to double to a staggering 430 million metric tons by 2040, and by 2050, the weight of ocean plastic could surpass that of all fish in the sea. The consequences include species extinction, ecosystem damage, and accelerated climate change.

In this scenario, South Asia emerges as a major player in plastic pollution. The region currently leads the world in open dumping, with an astonishing 334 million metric tons of waste, 40 million of which is plastic. Disturbingly, if no action is taken, South Asia’s mismanaged waste is expected to double to a staggering 661 million metric tons per year by 2050, earning the region the unfortunate distinction of being one of the world’s leading producers of plastic pollution. Furthermore, the plastic manufacturing process contributes to greenhouse gas emissions, putting South Asian countries at an even greater risk from the severe impacts of climate change.

Non-Recyclable Plastic Waste Finds a New Purpose in Road Construction

Amidst the global race to find innovative solutions to the plastic waste crisis, a less explored avenue has emerged: using non-recyclable plastic waste in road construction. The World Bank has released a new report titled “Plastic Waste in Road Construction: A Path Worth Paving?” which examines the potential of repurposing plastic waste for road infrastructure while ensuring environmental sustainability and human health.

The idea involves substituting virgin polymers, commonly used to modify bitumen, a binding material in road construction, with non-recyclable plastics. If implemented on a large scale, this approach could divert an impressive amount of plastic waste from ending up in the ocean. For instance, for every kilometer of road constructed using this method, it has the potential to repurpose 57,803 single-use food containers, 2.5 million straws, or 166,667 single-use grocery bags. Additionally, plastic roads are expected to contribute to a reduction in greenhouse gas emissions, with each kilometer saving approximately three tons of carbon dioxide compared to incinerating plastic waste.

Benefits of Plastic Roads: Economic and Environmental Implications

Solid and well-maintained roads are crucial for economic and social development, particularly in fast-growing developing countries across South Asia. Roads serve as vital links, connecting producers to consumers, students to schools, and patients to hospitals. They enhance economic activity, reduce poverty, and improve overall livelihoods. By utilizing plastic waste to build essential infrastructure, not only can transportation be provided to citizens, but it can also contribute to a cleaner planet, tackling the plastic waste problem.

Unknowns and the Need for Scientific Research

While the concept of using recycled plastics in road construction is not entirely new, it has not undergone comprehensive evaluation regarding its environmental impact. India, in particular, has been a pioneer in plastic road construction, with over 2,500 kilometers of such roads already built. However, numerous uncertainties need to be addressed through rigorous scientific research:

  1. The generation of microplastics from plastic roads specifically and their impact on the environment.
  2. The potential leaching of plastic additives and engineering specifications, such as cracking resistance.
  3. Development of guidelines to protect workers from hazardous particles generated during plastic processing at high temperatures.
  4. The recyclability of plastic roads at the end of their lifespan, as conventional roads are highly recyclable.

Bangladesh and the World Bank Collaborate on Plastic Roads

Encouraged by a successful pilot project in Gazipur, Bangladesh, where a rural road was constructed using plastic waste, the country is joining forces with the World Bank to explore the use of resilient materials, including plastic waste, in road construction across eight administrative divisions. This initiative aims to assess the roads’ ability to withstand natural disasters while conducting scientific research to determine the potential environmental damage caused by microplastics in plastic roads.

With a significant portion of Bangladesh situated below 15 feet above sea level and facing the constant threat of extreme weather events and rising sea levels, resilient infrastructure is of utmost importance. Traditional rural roads often become impassable during floods, posing risks to people’s safety and hindering post-disaster recovery efforts. The initial pilot project has shown promising results, with the plastic road exhibiting resistance to damage from floods, bitumen bleeding, and cost-effectiveness compared to conventional roads.

Moving Towards Sustainable Solutions

Although knowledge gaps persist, the use of plastic waste in road construction offers a promising opportunity to mitigate the impact of unrecyclable plastic waste on the environment. However, it is essential to avoid replacing one crisis with another. The World Bank’s report aims to stimulate a thorough debate on viable solutions that benefit people, the environment, and collective well-being. Rigorous research conducted alongside pilot projects, such as the one in Bangladesh, will ultimately determine if plastic roads are a sustainable path worth pursuing.

NHRC urges govt. to take action against environmental polluters

Posted on by SAT News Desk

KATHMANDU — The National Human Rights Commission (NHRC) has urged the government to bring all those involved in environment pollution under the ambit of law.

Issuing a press release here on Monday on the occasion of World Environment Day, the NHRC urged the government to ensure citizens’ right to a clean environment.

Coordinated action by local, province and federal governments was necessary for the implementation of constitutional and legal rights related to safe, clean and healthy environment as well as NHRC’s past recommendations for the guarantee of rights to clean environment, reads the statement.

The NHRC has asked the government to lay emphasis on the human rights oriented development system, to formulate effective and meaningful programs to stop uncontrolled and unscientific exploitation of nature and bring all those involved in environment pollution under ambit of law.

It has urged the all business community and private sector to be aware about the negative impacts on the environment while running their industries and enterprises.

“Environment pollution has increased due to lack of adoption of human rights-oriented systems in development as well as excessive and unsystematic use of plastic products, excavation of natural resources including pebbles and sand.  Not only humans but animals and plants are also being affected by environment pollution.” 

(RSS)

Mayor of London Invites Nominations for City Hall’s Adult Learning Awards

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London – The Mayor of London, Sadiq Khan, has called upon the public to submit nominations for the second annual Adult Learning Awards at City Hall. This initiative aims to recognize and celebrate the achievements of Londoners who have embraced adult learning, as well as employers and training providers who have played a significant role in supporting their educational journey. With nominations open across ten award categories, including a new category to acknowledge non-teaching staff, the winners will be announced at a prestigious ceremony held at City Hall in November.

Sadiq Khan’s focus on these awards is a testament to his commitment to raising awareness about the numerous training opportunities available to Londoners and the transformative power of adult education. As living costs continue to rise, the Mayor recognizes the importance of ensuring that Londoners have access to the necessary skills and knowledge to secure new job prospects.

Highlighting the significance of adult learning, Sadiq Khan emphasized, “Supporting adult learning and enabling Londoners to gain the skills they need to progress into new jobs is key to my mission of building a better, fairer, and more prosperous London for everyone. The second Adult Learning Awards will allow us to once again celebrate hardworking Londoners, employers, and training organizations that are making a real difference in their sectors. I urge people to get their nominations in now.”

Last year’s Adult Learning Awards featured remarkable stories of triumph and personal growth. Shirley Joseph, recipient of the Inspirational Adult Learner of the Year award, shared her inspirational journey, stating, “I was very low when I was made redundant; I’d never been out of work before. A course came up, I made some inquiries and found out it was about training to become a track engineer for Network Rail. I thought, ‘just go for it’ so I sat my test and passed, and I now work at TfL. To win this award was a massive achievement for me at my age and a massive pat on the back.”

Nominations for the Adult Learning Awards are now open, and members of the public are encouraged to submit their nominations before the deadline on Monday, July 24. This is an excellent opportunity to recognize individuals, employers, and training providers who have demonstrated outstanding commitment and dedication to adult learning in London.

To make a nomination or find out more information about the awards, please visit [nomination link].

About the Mayor of London: The Mayor of London, Sadiq Khan, is dedicated to improving the lives of all Londoners. Through initiatives such as the Adult Learning Awards, he strives to provide equal opportunities and foster an environment of growth and prosperity in the city. Sadiq Khan’s vision is to build a better future for London, where everyone has access to quality education and training.

Supreme Court of Nepal Issues Interim Order Halting Implementation of Amended Citizenship Act

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Kathmandu, Nepal – In a significant development, the Supreme Court of Nepal has issued a short-term interim order, preventing the government from implementing the recently approved amended Citizenship Act. The order, issued by a single bench comprising Judge Dr. Manoj Kumar Sharma, came in response to a writ petition filed by senior advocates Surendra Bhandari and Balkrishna Neupane.

The interim order, granted by Judge Sharma, effectively puts a temporary halt to the implementation of the amended Citizenship Act until further deliberation and examination of the constitutional issues raised in the writ petition. The adjournment of proceedings for both parties until the 26th of the Nepali month aims to allow for further discussion on whether an interim order should be issued or not.

The controversy surrounding the amended Citizenship Act began after President Ramchandra Paudel gave his approval to the bill last week. However, concerns have been raised by prominent senior advocates regarding the constitutionality of the bill’s approval process.

Bhandari and Neupane filed a writ petition in the Supreme Court, arguing that President Paudel’s certification of the bill goes against constitutional provisions. According to the petition, the provisions cited by the President during the bill’s validation were unrelated to the purpose of the Bill Validation, thereby undermining the constitutional integrity. The petitioners contend that the bill was validated based on incorrect constitutional provisions, and as a result, the implementation of the validated bill should be delayed and not enforced immediately.

The Supreme Court’s decision to issue the interim order reflects the court’s willingness to address the concerns raised in the writ petition and thoroughly examine the constitutional aspects of the amended Citizenship Act. This temporary halt on its implementation will allow for a comprehensive evaluation of the bill’s constitutionality and the potential impact on citizenship rights in Nepal.

As the adjourned proceedings are scheduled for later this month, legal experts anticipate that the Supreme Court will closely scrutinize the arguments presented by the petitioners and the government. The outcome of this case will not only shape the future of the amended Citizenship Act but also have significant implications for the rights and status of individuals seeking citizenship in Nepal.

For now, the implementation of the amended Citizenship Act remains on hold, pending the final decision of the Supreme Court following the forthcoming proceedings.

India Train Crash: Over 288 Dead and Hundreds Injured in Balasore District, Odisha

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Balasore, Odisha: A devastating train crash in India’s eastern state of Odisha has claimed the lives of at least 288 people, making it the country’s deadliest rail accident in over two decades. The tragedy unfolded on Friday at approximately 7 pm local time, about 130 miles southwest of Kolkata, in Odisha’s Balasore district.

The collision involved two passenger trains, causing widespread destruction and leaving hundreds injured. Between 10 and 12 carriages of one train derailed, with debris falling onto an adjacent track. Tragically, another train traveling in the opposite direction struck the debris, resulting in the derailment of up to three carriages from the second train.

Rail spokesperson Amitabh Sharma provided this information, highlighting the severity of the incident. The injured toll soared to over 850 individuals, with many in critical condition, as reported by Sudhanshu Sarangi, the chief of the local fire services. Authorities have yet to confirm reports of a third train involved, which was purportedly carrying freight.

Rescue operations were immediately initiated, with all hospitals in Balasore being put on high alert. Dedicated teams worked tirelessly throughout the night, striving to free the trapped passengers from the wreckage. On Saturday morning, Balasore authorities reported that numerous individuals remained trapped inside the carriages.

In response to the disaster, Odisha Chief Secretary Pradeep Jena announced via Twitter that more than 200 ambulances had been dispatched to the scene. Disturbing footage depicted police carefully removing bodies, covered in white cloths, from the tracks. Recognizing the gravity of the situation, the Indian Army has been deployed to assist in the rescue efforts.

Expressing his distress over the tragic incident, Indian Prime Minister Narendra Modi assured the nation that all possible assistance would be provided to the affected individuals and their families.

As the rescue operation continues, the exact cause of the collision remains under investigation. The devastating train crash has left the entire nation in mourning, as the loss of life and magnitude of injuries continue to rise. The focus remains on providing immediate medical attention to the injured and ensuring the safe extraction of those still trapped in the wreckage.

The government and railway authorities are expected to conduct a thorough inquiry into the incident to determine the factors leading to this tragic accident.

Genese Solution takes part in the AWS Summit in India

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Mumbai – Genese Solution Ltd, a UK-based provider of innovative cloud solutions, has taken part in the Amazon Web Services (AWS) Mumbai Summit 2023. The event, hosted by the Amazon Web Services (AWS), brought together cloud enthusiasts, tech professionals, and industry leaders from around the globe for an immersive experience in the world of cloud computing.

The AWS Mumbai Summit was a premier event that presented a valuable opportunity for cloud enthusiasts and tech professionals to stay abreast of the latest AWS services and solutions while exploring cutting-edge initiatives to leverage the cloud for organizational growth, said a press statement issued by the Genese Solution. 

“The event facilitated networking with industry experts, AWS partners, and the AWS team, fostering connections and knowledge exchange. Cloud enthusiasts and professionals got the opportunity to demonstrate their commitment to staying at the forefront of cloud computing innovations, acquiring new skills, and uncovering how AWS can streamline project development and deployment processes. The event served as a platform for continuous learning and empowered attendees to harness the full potential of AWS for their business endeavours,” the statement said.

The Genese Solution team was led by the Global CTO Anjani Phuyal.

The Genese Solution stall at the AWS Mumbai Summit attracted visitors eager to learn more about the company’s range of services. Engaging with the enthusiastic team, guests delved into recent accomplishments and engaged in meaningful discussions about cloud adoption and transformation. Leading consulting organisations, including Deloitte, PWC (PricewaterhouseCoopers International Limited), and Redington, took part in the Summit.

The AWS Mumbai Summit 2023 marked a triumphant return to in-person events after a three-year hiatus due to the global pandemic. The overwhelming attendance of over 9,000 cloud enthusiasts and professionals at the NESCO Exhibition Center demonstrated the industry’s resilience and eagerness to explore new frontiers in cloud computing, the statement said. 

Rising Debt and Inequalities Amplify Global Employment Divide, says ILO Report

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A recent report released by the International Labour Organization (ILO) highlights that mutually reinforcing crises, including increasing debt levels, are disproportionately impacting developing countries, exacerbating global employment disparities and widening existing inequalities that were further aggravated by the COVID-19 pandemic.

The 11th edition of the ILO Monitor on the World of Work reveals that while global unemployment is expected to fall below pre-pandemic levels in 2023, with 191 million people unemployed worldwide, low-income countries are struggling to recover. The report projects that low-income countries in Africa and the Arab region will not reach pre-pandemic levels of unemployment this year. Unemployment rates for North Africa are estimated to be 11.2% (compared to 10.9% in 2019), Sub-Saharan Africa at 6.3% (5.7% in 2019), and the Arab States at 9.3% (8.7% in 2019). In contrast, other regions have managed to reduce their rates substantially below pre-crisis levels.

Beyond unemployment rates, the report introduces a new indicator called the “jobs gap,” which provides a comprehensive measure of the unmet demand for employment, particularly in developing countries. The jobs gap captures all individuals who desire employment but are unable to find jobs. The data reveals a global employment divide, with low-income countries facing the largest jobs gap rate at 21.5%, while middle-income countries have a rate slightly above 11%. High-income countries register the lowest rates, at 8.2%. Notably, low-income countries are the only income group that has experienced a long-term increase in the jobs gap rate, rising from 19.1% in 2005 to 21.5% in 2023.

Rising debt levels pose additional challenges for developing countries, limiting their ability to implement effective policy interventions. Financial and fiscal constraints hinder responses to complex threats such as conflict, natural disasters, and economic crises, which further contribute to widening the jobs gap. The report highlights that low-income developing countries facing debt distress have a significantly higher jobs gap, reaching 25.7% in 2023, compared to 11% in developing countries at low risk of debt distress.

Addressing the social protection policy gaps in developing countries is crucial, as per the report’s findings. The report presents evidence that increasing investment in social protection would yield substantial economic, social, and job benefits while narrowing the global jobs divide. It emphasizes the importance of implementing basic old-age pensions, particularly in lower-middle-income and low-income countries, where the current coverage is significantly lower compared to the global average. Introducing universal basic old-age pensions in developing countries would increase their GDP per capita by 14.8% within ten years and reduce extreme poverty rates by six percentage points, a significant reduction from the current rate of 15.5%.

Although financing social protection poses challenges, the report asserts that it is attainable. Providing old-age pensions at the national poverty line level in developing countries would amount to approximately 1.6% of their GDP.

The report underscores the need for coordinated global financial support for job creation and social protection, particularly during times of multiple crises and shocks. This support is crucial to ensure that the recovery and reconstruction efforts leave no one behind and facilitate long-term structural transformation. The report also emphasizes the importance of creating fiscal space for social investments in low-income countries, calling for urgent consideration within the ongoing global discussions on the reform of the international financial architecture.

In response to the findings, the ILO Director-General, Gilbert F Houngbo, announced the launch of a Global Coalition for Social Justice,

Climate Change Amplifies Deadly Heatwave Impact in Bangladesh, India, Thailand, and Laos, Study Finds

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A recent study conducted by the international World Weather Attribution (WWA) team of climate scientists has revealed that climate change played a significant role in the devastating heatwave that struck Bangladesh, India, Thailand, and Laos in mid-April. Led by Dr. Fredi Otto from the Grantham Institute – Climate Change and the Environment, the study found that climate change made the occurrence of this heatwave at least 30 times more likely.

While April typically experiences high temperatures in south and southeast Asia, this particular heatwave was exceptional in its intensity. On April 15, Thailand recorded its hottest day ever, with the mercury soaring to a scorching 45.4°C in the northern province of Tak. Subsequently, on April 18, several cities in northern and eastern India experienced temperatures above 44°C. Laos also witnessed its highest recorded temperature on April 19, reaching 42.9°C in the northwest Sainyabuli province.

The impacts of the extreme heat were widespread, with schools closing, roads melting, wildfires igniting, and an increase in hospitalizations and casualties due to heatstroke. The exact number of deaths caused by the mid-April heatwave is currently unknown, but Navi Mumbai alone reported 13 heat-related fatalities on April 16.

The study, which analyzed the average maximum temperature and maximum heat index over four consecutive days (April 17-20), focused on two regions: one encompassing south and east India and Bangladesh, and the other including all of Thailand and Laos. Notably, this is the first time the WWA researchers analyzed the heat index, which combines temperature and humidity to reflect how the temperature feels to the human body.

The analysis revealed that, in Bangladesh and India, extreme heatwaves of similar magnitude used to occur less than once a century before human-caused climate change. However, in today’s climate, such events are now expected to transpire approximately once every five years. With the Earth’s average temperature having increased by approximately 1.2°C since the Industrial Revolution, the Intergovernmental Panel on Climate Change (IPCC) warns that further warming could raise temperatures by 2°C within the next 30 years. If that happens, similar heatwaves are projected to occur at least once every two years in Bangladesh and India on average.

In Laos and Thailand, the study indicated that a heatwave of comparable magnitude would have been almost impossible without human-caused climate change. Presently, such heatwaves remain rare events, occurring only once every 200 years. However, if global warming reaches 2°C, these extreme heatwaves would become significantly more frequent, transpiring about once every 20 years.

Dr. Friederike Otto, a Senior Lecturer in Climate Science at the Grantham Institute and one of the founders of World Weather Attribution, emphasized that this study adds to the mounting evidence showcasing the exacerbation of heatwaves worldwide due to climate change. Dr. Otto stated, “We see again and again that climate change dramatically increases the frequency and intensity of heatwaves, one of the deadliest weather events there are.”

The study’s findings arrive shortly after another WWA study revealed that the late April heatwave, which shattered temperature records in Portugal, Spain, Morocco, and Algeria, was made at least 100 times more likely and 3.5°C hotter due to climate change.

The World Weather Attribution studies shed light on the unequal impacts of climate change. Emmanuel Raju, Director of the Copenhagen Centre for Disaster Research at the University of Copenhagen and one of the study’s authors, highlighted that marginalized communities are often the worst affected. These individuals,

Indian PM Narendra Modi and Nepalese PM Pushpa Kamal Dahal ‘Prachanda’ Discuss Bilateral Ties, Sign Transit Agreements

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New Delhi — Indian Prime Minister Narendra Modi and his Nepali counterpart Pushpa Kamal Dahal ‘Prachanda’ held extensive talks on Thursday, focusing on enhancing cooperation between India and Nepal in various sectors. The discussions emphasized areas such as energy, connectivity, and trade. As a result of their meeting, both leaders signed transit agreements to further strengthen their bilateral relationship.

During the talks, Prime Minister Modi recalled his visit to Nepal in 2014, where he offered a ‘hit formula’ to improve relations between the two countries. He emphasized the importance of establishing highways, I-ways (information highways), and trans-ways to ensure that borders do not become barriers. Prime Minister Modi expressed his satisfaction with the progress made since then and referred to the recently signed agreements as steps towards making the partnership between India and Nepal a “super hit.”

The visit of Prime Minister Dahal to India marks his first bilateral trip abroad since assuming office in December 2022 as the leader of the Communist Party of Nepal-Maoist. Welcoming Prime Minister Dahal at the Hyderabad House, Prime Minister Modi expressed his commitment to taking India-Nepal ties to new heights.

Delegation-level talks were held between the two prime ministers, covering areas such as the economy, energy, infrastructure, education, and people-to-people contacts. The leaders unveiled the e-plaque of the Kurtha-Bijalpura section of the Railway and jointly flagged off an Indian Railway cargo train from Bathnaha to the Nepal Custom yard, symbolizing increased physical connectivity.

Following the talks and unveiling of the railway section, Prime Minister Modi addressed a joint press conference, highlighting the signing of transit agreements and the establishment of new rail links to enhance connectivity. He also emphasized the significance of the long-term power trade agreement between India and Nepal, which will strengthen the power sectors of both countries. Additionally, the leaders discussed the expedited development of projects related to the Ramayana Circuit, a religious and cultural initiative aimed at further strengthening the ties between India and Nepal.

Prime Minister Dahal expressed his gratitude for the warm reception in India and acknowledged the age-old relationship between the two countries. He invited Prime Minister Modi to visit Nepal and urged him to resolve border issues through bilateral talks.

Earlier, Prime Minister Dahal paid tribute to Mahatma Gandhi at Raj Ghat, the memorial dedicated to the Indian leader. The Nepalese prime minister’s visit to India, scheduled from May 31 to June 3, signifies the importance of the bilateral relationship. It also includes a visit to Indore and Ujjain, where both countries will build upon the achievements of previous high-level visits and further enhance their partnerships.

The visit of Prime Minister Dahal aims to impart renewed momentum to the close and unique India-Nepal relationship, focusing on cooperation in various fields and strengthening the cultural and historical ties between the two nations.

Ayurveda Shiromani Acharya Balakrishna to Conduct Yoga Session in Harrow, London

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London, June 1, 2023 – Ayurveda Shiromani Acharya Balakrishna, General Secretary of the Patanjali Yoga Peetha Trust, is set to conduct a grand yoga session in Harrow, London on June 22. The event, organized by the Hamro Swabhiman Trust UK, will focus on teaching yoga and pranayama techniques while emphasizing the significance of Ayurveda and a healthy lifestyle.

During a recent Zoom meeting, Yoga Rishi Swami Ramdev and Ayurveda Shiromani Acharya Balakrishna, both hailing from Haridwar, India, addressed participants in preparation for the upcoming program. Swami Ramdev acknowledged the deep loyalty of the Nepali community to their culture, regardless of their residence in the UK, Australia, Europe, or elsewhere. He stressed the eternal nature of Nepali language, culture, and traditions, urging individuals to preserve their heritage and fulfill their family and social responsibilities. Swami Ramdev expressed his full support for Acharya Balakrishna’s efforts to connect Nepalis worldwide.

Ayurveda Shiromani Acharya Balakrishna highlighted the courage and dedication inherent in the Nepali bloodline, stating that the Hamro Swabhiman Trust aims to unite Nepali and Gorkhali communities across the globe. The trust seeks to protect their identities and enhance the lives of Nepalis wherever they may reside. Acharya Balakrishna expressed his anticipation of meeting with the Nepali community in the UK soon.

Kul Acharya, President of the Non-Resident Nepali Association, commended Acharya Balakrishna’s campaign to foster cultural connections among Nepali speakers worldwide. He emphasized that the NRNA has been encouraging Nepalis worldwide to utilize their skills, capital, and experience for the betterment of Nepal and its people. He expressed the Association’s eagerness to work closely with the Hamro Swabhiman Trust.

Yogacharya Mohan Karki underscored the necessity of the organization in uniting the Nepali community worldwide, particularly during a time of societal division. He urged all Nepalis to develop a self-reliant model that promotes mutual support and cooperation.

Mrs. Sunita Poddar, a trustee of the Patanjali Yogpeeth UK, underlined the need of discussions for enriching Nepali community and fostering increased cooperation among its members.

During the meeting, Arjun Katuwal, Secretary General of the Hamro Swabhiman Trust Ad Hoc Committee, extended an invitation to all Nepali organizations based in the UK to participate actively in the program.

The upcoming yoga session led by Ayurveda Shiromani Acharya Balakrishna promises to provide valuable insights into the practice of yoga, pranayama, and Ayurveda while uniting the Nepali community residing in the UK.

LG Lion Crowned Champions of 21st Gurkha Cup 2023 in the UK

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Aldershot, UK – The Gurkha Cup 2023, the biggest football tournament of the Nepali community in the UK, concluded on Sunday, 28th May with an exhilarating final match at the Queen’s Avenue Football Ground in Aldershot. The 21st edition of the tournament witnessed fierce competition among 32 men’s teams and 10 women’s teams in the main group.

In a thrilling showdown, LG Lion emerged victorious, securing the championship title in the men’s category. The team displayed exceptional skills and determination throughout the tournament and secured a convincing 3-1 victory against Plumstead FC in the final match. The deserving champions were awarded a prize of £2500, along with a trophy and certificate. Plumstead FC, the runner-up, received £1500, a trophy, and a certificate.

The winning team’s journey to success was backed by Major Khushiman Gurung MVO, Managing Director of Nepali Village UK, who sponsored them with a generous amount of £2500. Major Yogesh Rai, Managing Director of Shree Lucky Zolars Aldershot, sponsored the runner-up team with £1500. Hup Thapa, the sponsor of the best manager in the main team category, rewarded the victorious LG Lion manager, Som Gurung, with £1000. Additionally, Ragan Gurung of Plumstead FC was honored as the top scorer in the main team category.

In the veteran category, Himalayan FC emerged triumphant after an intense penalty shootout, claiming the championship title. They received a cash prize of £1200, a trophy, and a certificate. Intake 2000 showcased an impressive performance but had to settle for the runners-up position, earning £800 in cash, along with a trophy and certificate. Raja Thapa, director of Hamsair Accountant, sponsored the winning veteran team with £1200, while Mann Travels and Tours Services Ltd. directors, Suman Pun and Bagbir Pun, sponsored the runners-up team with £800. Captain Pitambar Gurung of the veteran team was also awarded £500.

On the women’s side, ‘Ma Khelchu FC’ emerged as the winners, showcasing their exceptional talent and teamwork. They were awarded a prize of £500, along with a trophy and certificate. The runner-up team, Rounderbolt FC, was sponsored with £300 by IME London Kamal Paudel, Director of King’s Gate Finance.

In individual player accolades, Sushma Shahi was named the Player of the Match for her outstanding performance. Sougat Gurung of LG Lion was crowned the West Player, while Regan Gurung of Plumstead FC secured the Top Scorer title. Sushmita Shahi was recognized as the best player in the women’s category.

Aside from the football matches, the Gorkha Cup 2023 featured a range of attractions, including parachute jumps, cultural programs, food stalls, charity stalls, mortgage stalls, rental shops, clothing shops, and public awareness stalls. Over 100 stalls added vibrancy to the event, catering to diverse interests.

The prestigious event was graced by several distinguished guests. Clive Gratton, Mayor of Rushmore Borough Council, attended as the Chief Guest, alongside Roshan Khanal, Deputy Head of the Nepali Embassy, and Councilors of Rushmore Borough Council. Other notable guests included Brigadier PS Rihal MBE, Gaurab Ghale, heads of various organizations, councillors, senior ranks of the Army, religious leaders, and journalists. Approximately 350 guests were in attendance, adding to the grandeur of the event.

During the formal program held prior to the finals, Mayor Clive Gratton expressed his delight at the Nepali community organizing such a significant event in his borough. He emphasized the strengthening of British society through the growing Nepali population. Roshan Khanal, the Deputy Chief of Mission of the Nepali Embassy in London, highlighted the role of sports in promoting social harmony, unity, and local business.

Hari Gurung, President of Tamudhin UK, acknowledged the Gorkha Cup’s vital contribution in fostering unity, harmony, and integration among Nepalis in the UK. He emphasized the event’s impact on promoting local businesses and preventing youth from engaging in negative activities.

Although Prince Phillipos and Princess Nina of Greece and Denmark were expected to attend as VVIP guests, they were unable to attend due to health reasons.

The event’s formal program was chaired by Hari Gurung, President of Tamudhi UK, and Dr. Bishal Gurung, Secretary General of the organization. The organizing team, led by various individuals, including Ky. Deepakraj Ghale, Sulabh Gurung, Kumar Gurung, Lieut. Kusang Gurung, Me. Re. Khushiman Gurung, Kamal Gurung, and Parshu Gurung, ensured the success of the Gorkha Cup 2023.

The Gorkha Cup has become an integral part of the Nepali community’s cultural calendar in the UK, fostering camaraderie, promoting sportsmanship, and showcasing the talent and dedication of Nepali footballers.

Nepal Breaks New Ground: Dual Citizenship Granted to Overseas Citizens

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Kathmandu—The President of Nepal, Ram Chandra Paudel, has given his approval to the Citizenship Bill, a decision that has sparked significant controversy throughout the country. The Bill to Amend the Citizenship Act, which had been stuck in limbo since its endorsement by the House of Representatives last year, was finally granted approval on Wednesday, according to a source from the Office of the President.

The Citizenship Bill aims to amend the Citizenship Act in line with the provisions of the constitution, which came into effect on September 20, 2015. The constitution envisions granting citizenship to non-resident Nepalis, with specific criteria outlined in Article 14. The approved bill includes provisions for granting non-residential citizenship to individuals who have acquired citizenship of a foreign country, have resided in a country other than a member state of the South Asian Association for Regional Cooperation, and have a familial connection to Nepali citizenship by descent. However, those holding non-residential citizenship will not enjoy political and administrative rights.

The government had formally requested President Paudel to approve the bill on May 12 after facing opposition from former President Bidya Devi Bhandari, who believed the legislation was not in the nation’s best interests. President Paudel, exercising his constitutional authority, approved the bill following a request from the Council of Ministers.

The bill had faced obstacles in the past, with former President Bhandari returning it for revision. However, the House of Representatives rejected her call for reconsideration on August 18, 2022. With the election of Ram Chandra Paudel as the new president, the ruling party gained momentum in pushing the bill forward.

Amidst the ongoing debate, the government and the president sought legal counsel regarding the enactment of the bill. The consulted lawyers reportedly supported the government’s stance, while the main opposition party, CPN-UML, demanded the introduction of a new bill in the House for approval instead of endorsing the existing one.

The approved Citizenship Amendment Bill contains several provisions, some of which have generated controversy. Notably, foreign women married to Nepali men will be eligible for naturalized citizenship upon submission of relevant documents as evidence. The bill also addresses citizenship by descent and grants naturalized citizenship.

The legislation upholds Article 10 of the Constitution, which ensures that no Nepali citizen shall be deprived of the right to obtain citizenship. It further stipulates that minors without identified parents within Nepal will be considered citizens of Nepal by descent until their parents are identified. Additionally, children born in Nepal before September 20, 2015, will acquire Nepali citizenship based on descent once they reach the age of 16, provided that both parents are Nepali citizens.

The bill also includes provisions for non-resident Nepalis to obtain Nepali citizenship. However, if individuals are found to have obtained non-resident Nepali citizenship through false information or acted against the interests of Nepal, their citizenship can be canceled by the government.

In a fresh provision, the bill allows Non-Resident Nepalis (NRNs) to acquire Nepali citizenship, regardless of holding citizenship in another country. NRNs seeking citizenship will need to present evidence of their own citizenship and their parents’ or grandparents’ Nepali citizenship. Additionally, a declaration form stating their connection to Nepal will be required.

While NRNs obtaining Nepali citizenship will have various economic, social, and cultural rights, they will not possess political rights, such as voting or holding public office.

President Paudel’s approval of the Citizenship Amendment Bill represents a significant milestone in the legislative process. The bill will now become law, potentially bringing significant changes to Nepal’s citizenship regulations.