Current Affairs A-Z
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Aspect |
President of India |
President of the USA |
| Constitutional Provisions |
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Article II, Section 2: Grants the President the power to grant pardons, reprieves, and commutations. |
| Scope of Power |
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Federal crimes only, excluding state crimes under the jurisdiction of state governors and cases of impeachment. |
| Types of Clemency Power |
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| Parliamentary Influence | The power is exercised on the advice of the Council of Ministers (Article 74) which is indirectly influenced by Parliament. The President is bound by the advice of the Council. | The President exercises the pardoning power independently, without needing advice from anybody & without direct influence from the legislative body. |
| Separation of Powers | The parliamentary system influences the exercise of pardoning power, which emphasises collective responsibility. | The power is independent, as the President operates under a presidential system with separation of powers. |
| Judicial Review | Subject to judicial review by the courts if it is deemed to be exercised arbitrarily or in bad faith or violates fundamental rights (Epuru Sudhakar vs. Govt. of AP) | Generally, exercising pardoning power is not subject to judicial review, as it is considered an executive power. |
| Transparency Process | There is no constitutional requirement for transparency; decisions are often made without public explanation. | Pardoning decisions are usually made public through formal announcements, providing some level of transparency. |

Source: EconomicTimes
| Country | Key Initiatives | Details |
| India | Local Currency Trade Agreements | Signed agreements with Russia and UAE to conduct trade in rupees, reducing reliance on the U.S. dollar. |
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Vostro Accounts |
Opened special Vostro accounts to facilitate trade in local currencies. | |
| Russia |
SPFS (System for Transfer of Financial Messages) |
Developed SPFS as an alternative to SWIFT, enabling transactions without the U.S. dollar. |
| Gold Reserves | Increasing gold reserves to diversify away from the U.S. dollar. | |
| China | CIPS (Cross-Border Interbank Payment System) | Established CIPS to facilitate yuan transactions globally. |
| Currency Swap Agreements | Entered into agreements with several countries to promote the yuan in international trade. | |
| South Africa | Regional Currency Use | Encouraged the use of the South African rand in regional trade within Africa. |
Also read > Internationalisation of Rupee.

Source: abcbirds
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