Here are 2 Back2Basics collections from today’s news items

Press Council of India

The Press Council is a statutory, quasi-judicial body which acts as a watchdog of the press
It adjudicates the complaints against and by the press for violation of ethics and for violation of the freedom of the press respectively
It was first set up on 4 July 1964 by the Parliament to regulate the press in India
The basis at that time was the Press Council Act, 1965 which resulted from the recommendations of the First Press Commission of India (1952-1999)
After 2017, the Council functions under the Press Council Act 1978 which arose from the recommendations of the Second Press Commission of India (1978)
The Press Council is headed by a Chairman: usually, a retired judge of the Supreme Court of India
It consists of a Chairman and 28 other members. Of the 28 members, 13 represent the working journalists

News Broadcasters Association

The News Broadcasters Association is a private association of different current affairs and news television broadcasters in India
It was established by leading Indian news broadcasters in October 2008
The association was set up to deal with ethical, operational, regulatory, technical and legal issues affecting news and current-affairs channels

Provisioning

When a loan is not being repaid, the Bank has to reconstitute this money from its other sources like Profit
Setting aside of money from Profits to compensate a probable loss caused on lending a loan is called Provisioning
Provisioning is done to cover the risk
There are various percentages of Provisioning to the value of loan based on the duration the account has been out of order
If an account stays non-performing for a prolonged period of time, the account is eventually written off and the account is closed
The amount set aside as the provisioned money is used to close the account

B2B of the day: Press Council of India, News Broadcasters Association, Provisioning

By Explains