# Development finance institution

• The rajya sabha on thursday cleared the legislation to establish the national bank for financing infrastructure and development (NFID).

• This bank was announced in the budget speech by finance minister Nirmala sitharaman.

• Opposition leader Jairam ramesh opened the debate saying the concept of DFIs had already been tried, tested and rejected.

# South china sea

• The phillipine military ordered the deployment of more navy ships in the south china sea.

• This dispute between china and phippipines has erupted after a fleet of chinese boats were parked near a disputed reef.

• China claims almost the entirety of the resource rich whitrun reef near a disputed reef.

# FY22 forecast

• Despite the fresh threat from rising covid-19 cases, the RBI governor shaktikanta Das maintained the central bank’s forecast for GDP growth in FY22 at 10.5%.

• RBI governor said that rise in covid cases will be staggered in different parts of the country and economy will not be halted by nationwide lockdown.

# Collegium system

• There are currently 55 recommendations made by the collegium for judicial appointments of judges in different high courts.

• The supreme court has asked for clarifications from government for the delay in final approval.

• These recommendations are pending for six to eight months.

#  Women officers in army

• The supreme court on thursday held that Army’s selective evaluation process discriminates against and disproportionately affects women.

• Supreme court is hearing plea of short service commission (SSC) women officers seeking permanent commission.

• Supreme court ruled that the criteria seemed neutral on the face but was founded on a structure of “oppression and domination”.