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UPSC Dictionary

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The RBI was established on April 1, 1935, and was nationalized in 1949. It acts as the banker's bank and lender of last resort.

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Archaeological Survey of India

The Archaeological Survey of India (ASI) is a governmental institution and the premier agency responsible for archaeological research, conservation, and preservation of cultural historical monuments in India. It functions as an attached office under the Ministry of Culture, Government of India. The ASI was founded in 1861 by Alexander Cunningham, who also became its first Director-General, to systematically research and protect the subcontinent's historical remains during the British Raj.

The ASI's mechanism is primarily governed by the Ancient Monuments and Archaeological Sites and Remains (AMASR) Act, 1958. This Act provides for the preservation of ancient and historical monuments and archaeological sites of national importance, and regulates archaeological excavations. The ASI administers over 3,650 centrally protected monuments and sites under the provisions of the AMASR Act. The Act stipulates that the area within 100 metres of a protected monument is a prohibited area for construction, and the area extending up to 200 metres beyond that is a regulated area, where construction requires prior permission.

The ASI's work connects directly to the National Monuments Authority (NMA), a statutory body established in 2011 under the Ministry of Culture, which regulates construction and development in the prohibited and regulated areas around centrally protected monuments. The ASI also regulates the Antiquities and Art Treasure Act, 1972.

A significant recent change involves the proposed amendment to the AMASR Act. The Ancient Monuments and Archaeological Sites and Remains (Amendment) Bill, 2017, which was introduced in the Lok Sabha, sought to amend the Act to permit the construction of "public works" in the prohibited areas for public purposes, based on the recommendation of the NMA. Furthermore, the ASI recently undertook a large-scale exercise to delist 18 "untraceable" centrally protected monuments under Section 35 of the AMASR Act, which removes them from the ASI's purview and legal protection. The core mandate of the ASI—to protect and maintain monuments of national importance—has stayed the same, but the legal framework governing construction around them is subject to ongoing review and potential amendment.

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