August 2013
Content
Current Affairs – August 2013 from GKToday
Telangana will be India’s 29th State
August 2nd, 2013
The UPA Coordination
Committee agreed for the division of the state of Andhra Pradesh. The Congress Working
Committee pronounced in a common resolution that Telangana will be the new state. The proposed Telangana structure: · · · The inclusion of two districts of Rayalaseema — Anantapur and Kurnool in Telangana has yet not been finalised. If over the next few months there are demands for their inclusion an appeal could be made to the GoM. The new State will have 10 districts, while the remaining Andhra and Rayalaseema regions will together constitute Seemandhra. Hyderabad would be the common capital for the two States for 10 years and by that time Seemandhra will have a new capital built with Central assistance.
Indian Grand Prix 2014 dropped
August 3rd, 2013
Formula One chief Bernie Ecclestone has dropped India from the 2014 as the racing calendar for the coming year has been modified. The race organizers Jaypee Sports International Ltd. stated that the India will hold the Grand Prix in March 2015.
India’s first DNA Forensic Laboratory established in Gurgaon
August 3rd, 2013
Global biotechnology company ‘Life Technologies’ has launched India’s first private DNA forensics laboratory which is expected to accelerate sampling process thereby reducing the burden on existing forensic laboratories. The technology based on DNA testing has widely been accepted as the most effective crime fighting tool among law enforcement agencies for a variety of applications, including assaults, missing persons and disaster victim identification.
Benefits of the DNA Forensic Lab:
· · ·
The lab will reduce the burden on existing forensic system and address the requirements of DNA database generation for unidentified dead bodies or other crime investigations.
It will facilitate a broad range of DNA testing including paternity testing, kinship testing, DNA profiling for database generation, and forensic DNA analysis. The lab will meet international standards for DNA testing.
SAFF U-16 football title: India defeats Nepal
August 3rd, 2013
India beat Nepal 1-0 to in the final match lift the South Asian Football Federation (SAFF) Under-16 Championships title played at the Dasharath Stadium in Nepal. India returned unbeaten in the biennial tournament.
SAFF U-16 Championship
Annual international football competition First edition: Nepal (August 2011) Contestants: National teams of the members of the South Asian Football Federation (SAFF) Member Associations: · · · · · · · · Bangladesh 1997 India 1997 Maldives 1997 Nepal 1997 Pakistan 1997 Sri Lanka 1997 Bhutan 2000 Afghanistan 2005
Bharat Mobile Scheme
August 3rd, 2013
The Union government is going ahead with Bharat Mobile Scheme to give mobile phones to 6 million families that live Below Poverty Line (BPL). The plan is being seen as similar to freebies like laptops and television sets distributed by several other regional.
What is the aim of Bharat Mobile Scheme?
As per the government, it is planning its Bharat Mobile Scheme with the aim to provide unconnected citizens access to benefits of welfare programmes. Besides communication, mobile is to act as a device identity of the members of a household for transfer of benefits of different government programmes. The phone number may act as the first level of authentication for the user and can be utilized to access information, including land records and details of payments made to a family. To get subsidies and other government benefits, people will still need the Aadhaar Unique Identification Number.
Who will be given the mobile phones under “Bharat Mobile Scheme” ?
As per DoT, every rural household that has at least one member who completed 100 days of work under the MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) in 2012 will be given a mobile phone.
How would the Bharat Mobile Scheme be implemented?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
To carry out the scheme operators will be selected through competitive biddings or nominated state-run operators. The operators will be responsible for providing the devices, accessories, connectivity as well as warranty for 3 years. The mobile phones will have customized embedded opening screens displaying details of the scheme and the allocated number will act as a level of authentication to provide access to health records, land records and payment transfers. The scheme will be accomplished in 3 years and follow lists of eligible citizens prepared by state governments. Women will be given preference to receive the mobile phones.
Political views against “Bharat Mobile Scheme”:
Many a political analysts view this scheme as a political gimmick to woo the voters ahead of the general elections in 2014, much like the various states giving out laptops and such.
Similar Antecedents to ”Bharat Mobile Scheme”
examinations.
Uttar Pradesh chief minister Akhilesh Yadav distributing laptops and tablet computers to students who pass class 12 In Tamil Nadu, local political parties have been known to promise laptops, food grinders and television sets apart from subsidized food grain as part of their election mandates.
Status of Teledensity in India
As per Telecom Regulatory Authority of India (TRAI) figures, India ended April with 867.02 million mobile connections. This included 345.85 million rural connections, a 40.59% rural teledensity.
ICC World Cup 2015 to be jointly hosted by Australia and New Zealand
August 3rd, 2013
Defending champion India will take on Pakistan in its opening match of the ICC cricket World Cup, 2015 on February 15, 2015 which is to be jointly hosted by Australia and New Zealand from February 14 to March 29, 2015. India has never lost to Pakistan in any of its five World Cup clashes so far.
CCEA to consider new definition of “Control” in FDI policy
August 3rd, 2013
The existing clause in the FDI policy states that a company owned and controlled by resident Indian citizens has the power to appoint majority of its directors in that company. Now the Cabinet Committee on Economic Affairs (CCEA) has decided to consider new definition for “control” in FDI policy.
Aim of the new Definition of “control” in FDI policy:
· · ·
To provide better mechanism for calculating direct and indirect investment in a company. It will provide control in the management by virtue of shareholding or management right or shareholder agreement or
The new definition will include the right to appoint majority of directors. voting agreement.
The CCEA may also look into revising norms related to sourcing from small industries and investment in back-end by multibrand retailers. There will be no change in 30% sourcing limit from small industries and small industries will be defined as those having a total investment in plant and machinery not exceeding $2 million. At present this limit stands at $1 million. The small industry status will be valid for only 3 years after the breach of the $2-million investment limit.
BrahMos receives orders worth Rs 25,000 crore
August 3rd, 2013
Indo-Russian (49.5 % stake) joint venture, BrahMos Aerospace developed the world’s first supersonic cruise missile and has already bagged orders worth Rs 25,000 crore from the Indian defence forces. The deliveries to the Indian Army and Navy have started and the joint venture will begin deliveries of a slightly modified version to the Indian Air Force from 2015.
Export opportunities and issues with BrahMos:
The 290-km-range BrahMos having multiple platforms to launch and its low cost has also attracted the world. There is lot of export opportunity with about 14 countries showing interest. However, there are issues like the country’s security interests and what model (of the missile) that can be exported. The production order for BrahMos would rise from $7 billion to $10 billion by 2015.
Upcoming Modified version of BahMos:
The slight modification of the version of the missile is being done to suit the needs of the Indian Air Force. It is being fitted to the Air Force’s deep-strike Sukoi aircraft. In the mid of 2014, the live flight trials will be done and it will be ready for induction with the Air Force by 2015. The joint venture will later start work on new versions of the missile such as a hypersonic model.
Google India introduces “Start Searching India” campaign
August 3rd, 2013
Google India introduced ‘Start Searching India’ campaign to help internet users get the most out of the web with its search tool. Objective of “Start Searching India”: To help Indian users save time, by showing how they can get instant and to the point answers to their most common queries. According to Google e-governance is doing well in Madhya Pradesh with mponline.comand vyapam.com figuring in the top five web searches.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Government agrees to share classified hydrological data at a cost
August 3rd, 2013
The government has decided to share classified hydrological data at a cost only if the user is able to convince a panel about the requirement. The classified data can be availed by both Indian and foreign users by applying for it.
Why the government has agreed to share hydrological data?
·
There has been increased demand by the community that statistics collected using public funds should be made more readily available to all for facilitating rational debate, better decision making and in meeting society’s needs.
As per Hydro-meteorological Data Dissemination Policy 2013: · · · The classified data will be released for a specific purpose or study and will be non-transferable. There is a ban on reproduction of the classified data in any report or publication or detailed project report. Only result of analysis and inferences drawn thereof should be published.
How to get access to hydrological data? Those who want to use the data will have to approach a designated chief engineer of the Central Water Commission (CWC) with a secrecy undertaking. The official would first verify the authenticity of the user, the purpose for which the data has been requested and the minimum amount of data required for the purpose. He will forward the request along with his recommendations to theClassified Data Release Committee which will take a final call on the issue. Indian commercial and foreign users will be provided the classified hydro data at a cost of Rs 75,000 per site, per annum while the Indian non-commercial users will be provided with the information free of cost.
India divided into 3 regions regarding data dissemination:
1. 2. 3. Region-II: Ganga-Brahmaputra-Meghna basin
Region-I: Indus basin and other rivers and their tributaries discharging into Pakistan and other rivers and their tributaries discharging into Bangladesh/Myanmar Region-III: Remaining other rivers and their tributaries.
According to the policy, while the data of Region-I and II are classified, the data of Region-III is unclassified. The reservoir water level, live storage position, water quality, groundwater and meteorological data for all regions are also unclassified.
Mechanism behind brains ability to pay attention unveiled
August 3rd, 2013
Researchers from Dartmouth’s Geisel School of Medicine and the University of California Davis have decoded the cellular mechanisms behind human brain’s ability to pay attention to relevant information while ignoring distractions. Despite much study of attention in the brain, the cellular mechanisms responsible for the effects of attention have remained a mystery until now.
What has been revealed by the study by Dartmouth’s Geisel School of Medicine and the University of California Davis?
Researchers studied communications between synaptically connected neurons under conditions where subjects shifted their attention toward or away from visual stimuli that activated the recorded neurons, sharpen the precision of these signals, and selectively boost the transmission of attention-grabbing information while reducing the level of noisy or attention-disrupting information. In this study, scientist found a new mechanism by which attention shapes perception by selectively altering presynaptic weights to highlight sensory features among all the noisy sensory input.
How would the findings by by Dartmouth’s Geisel School of Medicine and the University of California Davis help?
or disease, possibly leading to improved screening and new treatments.
Besides expanding our understanding of brain, this study would help people with attention deficits resulting from brain injury
RBI lowers GDP growth to 5.7%
August 3rd, 2013
The GDP growth for the current fiscal has been fixed lower by the Reserve Bank of India’s professional forecaster’s survey. From the earlier estimation of 6% it has now been fixed as 5.7%.
Nationwide survey shows 44 top Indian cities below global median of doctors
August 3rd, 2013
The IMS Health Physician and Chemist survey on the state of healthcare in the country disclosed that 44 of the top 120 Indian (metro and non-metro) cities are below the global median of 1.2 doctors per 1000 population, while 76 cities are above this benchmark. The survey points out that there is an alarmingly low doctor density in rural areas. As per IMS Health Physician and Chemist survey:
Amongst the metro cities, the density of doctors to 1,000 population is more than double compared to the national average of 0.65. Delhi has the highest density at 2.05 doctors due to the fact that it has the highest numbers of doctors in India(33,5000). · Mumbai has one of the lowest density of doctors, 1.52 per 1,000 population, due to the fact that it’s the most populous city.
Amongst states, Haryana has the highest doctor density. · Some cities are over-served by the healthcare system like cities of North India account for 31% of doctors in the country, but only 28% of the country’s population lives there.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· · · · As compared to this, east and south India have a considerably lower density of GPs (non-MBBS) compared to the Indian average. When compared across the chemist population similar unevenness was found. Around 42% of chemists in India are concentrated in the top nine most populated cities, and 29% of chemist sales are performed without any prescription. 37% of chemist outlets are attached to doctor clinics, polyclinics, hospital facilities, and nursing homes.
Bhim Sain Bassi is the new Delhi Police Commissioner
August 3rd, 2013
Bhim Sain Bassi, the 1977-batch IPS officer of AGMU (Arunachal Pradesh-Goa-Mizoram-Union Territories) cadre has taken over the charge as the 20th DelhiPolice Commissioner as he succeeded Neeraj Kumar, the outgoing Delhi Police Chief. Bassi will hold the office till February 2016. He was conferred the President’s Police Medal for distinguished service and the Police Medal for meritorious service.
Researchers develop CNT-Cu (Carbon Nanotubes and Copper) material using carbon nanotubes for next-gen conductors
August 3rd, 2013
Researchers from the National Institute of Advanced IndustrialScience and Technology (AIST), Japan, have developed a new material called CNT-Cu (Carbon Nanotubes and Copper) which makes possible lighter conductors that can carry larger currents. Researchers, led by Indian chemist Dr. Subramaniam Chandramouli, have created this material by embedding carbon nanotubes in copper. It resulted into a new material “CNT-Cu” with boosted ampacity to a massive 10,000%, with an electrical conductivity comparable to that of copper.
What is Ampacity?
Ampacity is the maximum amount of current a conductor can carry before losing its electrical properties. The larger the ampacity the better is the performance.
Why do we need materials with high ampacity?
A material with higher ampacity and which is simultaneously conductive is required to withstand, handle and transport the increasing current densities of modern electronics.
What is special with CNT-Cu (Carbon Nanotubes and Copper) ?
CNT-Cu consists of 45% CNTs by volume, and is less dense than a pure copper conductor by 42%. An advantage of the material is that it reduces the amount of copper required and provides 100 times higher performance.
How CNT-Cu (Carbon Nanotubes and Copper) is better than copper?
CNT-Cu conductors has an edge over copper conductors in a way that the CNT-Cu achieves higher ampacity by suppressing electromigration that occurs in copper wires, where electrons are scattered off their path by copper atoms. As electrons move inside the conductor, they are often scattered by atoms in their path. As the current density increases, scattering also increases until, at a threshold called the conductor’s rating, the material can no longer conduct the electrons, resulting in electro-migration. In case of CNT-Cu, the negatively charged particles are channelled to move through a continuous mesh-like network formed by the nanotubes, averting scattering.
India, China play key role to break potash cartel
August 3rd, 2013
India and China together played a significant role in busting a giant Russia-Belarus potash cartel. This move will benefit the importers of potash and ultimately the cultivators as it is likely to bring down its prices significantly.
How did India and China bring down the Russia-Belarus potash cartel?
The giant Belarusian Potash Company (BPC) venture, a cartel of Russia’s Uralkali and Belarus Belaruskali, accounted for 40% of global potash sales. The BPC had exclusive right to export Belarusian potash. Due to a significant control over the potash market, the cartel used to keep the prices higher by reducing the supplies in the event of fall in demands. Both the Russian and Belarus potash producers are now running at about 60% capacity utilisation. In December 2012, the exclusive right of BPC was cancelled through a decree signed by Belarusian President Alexander Lukashenka. Following this move, the cartel collapsed after the Russian partner walked out of the marketing venture. It was Indian and Chinese potash importers that prevailed upon the Belarus leader to sign the fateful degree. The Indian and Chinese importers convinced Mr. Lukashenka that Belarus could earn more if it marketed its potash on its own, rather than through the joint arrangement with Russians. Potash exports in Belarus contribute 6-10% to budget revenues, and Mr. Lukashenka wanted to increase the share at a time when the Belarus is struggling in deep crisis.
How would the busting of Belarusian Potash Company (BPC) venture help?
The breaking of Russia-Belarus potash cartel is likely to push the Uralkali to switch to volume-over-price strategy, which could lead to a 25% drop in world prices. It is expected that the potash price will fall below $300 a tonne after the change in company’s trading policy. The price now stands at about $400 a tonne. At the same time, India and China, the two world’s largest importers of potash, stand to reap benefits from the price fall.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Union Govt. launches National Teeka Express
August 3rd, 2013
The National Teeka Express was launched by Union Ministry of Health & Family Welfare. It has been launched to protect children from life-threatening childhood diseases.
What is the key motive behind National Teeka Express?
Under Routine Immunization Programme, ANMs collect vaccines from storage point (cold chain point) and transport them to session sites, i.e. either Sub-centre or Anganwari centre for carrying out vaccination. Govt of India provides support for distribution of vaccine from last storage point to outreach immunization session sites at Sub-centres/Anganwaris, known as Alternate Vaccine Delivery (AVD)under NRHM. However, gaps in the implementation of Alternate Vaccine Delivery in difficult areas with low access to healthcare services have been noticed. This gap may compromise the cold chain maintenance and possible loss of potency of vaccine. Improper storage could also lead to Adverse Events Following Immunization. This is the key reason behind of Teeka Express.
What programme is planned under ‘National Teeka Express’?
Govt. of India (GoI) has planned Teeka Express to be piloted in 69 high priority districts with difficult areas and low immunization coverage. For these districts, 1,850 vehicles are planned to be procured with GoI assistance. Designated vehicles under the brand name of ‘National Teeka Express’ will help in: · · · Distribution of the vaccines and complementary logistics from last cold chain point to immunization session sites. Ensure holding of sessions at the mobile vaccination centre. In order to reduce vaccine wastage and ensure better utilization of vaccines, including costly vaccines like Pentavalent vaccine ‘Teeka Express’ will be used with reverse cold chain to bring back the open and un-used vaccines for use in subsequent sessions. · · · Serve as a mobile healthcare delivery unit for the areas where there is no healthcare facility or health worker. Collect immunization related bio-medical waste for safe disposal at vaccine storage points. Collect the coverage and immunization performance reports of the session for compilation and preparation of report at PHC. The programme will be implemented in a Phased manner. In the first phase the 120 vehicles of “Teeka Express” are planned in 6 districts of 5 states namely Rajasthan – Alwar; Uttar Pradesh – Sharaswati; Haryana– Mewat; Jammu and Kashmir – Doda and Poonch and Madhya Pradesh – Tikamgarh.
Earth’s runaway heating easy to trigger than earlier believed
August 3rd, 2013
A study headed by Colin Goldblatt from the University of Victoria, Canadahas found that it may be possible for a planet to experience a runaway greenhouse effect even if it does not receive a higher amount of solar radiation that is considered necessary to trigger the event.
What is Runaway Greenhouse Effect and how it can impact Earth?
A runaway greenhouse effect is the uncontrolled heating up of a planet’s surface resulting in the rapid evaporation of its water bodies such as oceans, which get converted to steam and make the planet inhospitable.
What can cause Runaway Greenhouse Effect?
Runaway Greenhouse Effect is caused when the solar radiation absorbed by the planet exceeds the thermal radiation released by it. In ideal conditions, such as in the case of Earth, the absorption and radiation levels are balanced resulting in a temperate climate.
What did the Goldblatt’s study on Runaway Greenhouse Effect find?
like Earth receiving normal levels of solar radiation.
Dr. Goldblatt’s study has found that a runaway greenhouse effect can be triggered, under specific conditions, even on a planet As per this study, for any given planet (like Earth) there is a fixed upper limit of thermal radiation that helps balance the amount of solar radiation absorbed. The study, conducted using specific computer modeling techniques which have analyzed runaway greenhouse effects at different temperatures, has found that the threshold level for thermal radiation is lower than previously thought. Likewise, the solar radiation levels have been found to be higher than previous estimates. This lower level of thermal radiation can help cause a runaway greenhouse effect easily on Earth than believed earlier. The study compares the findings with planets such as Venus and says that Venus might have experienced a runaway greenhouse effect in the past and that “Earth’s future is analogous to Venus’s past”. But, it may happen only after a million years or more. It further adds that such an effect is unlikely to happen due to human-induced factors.
Semaandhra people to search for fourth capital in 60 years
August 3rd, 2013
In case the division of Andhra Pradesh goes through, the people of the newly created Andhra state, which will include the Rayalseema region, will have to search for their fourth capital city in the last 60 years. The creation of the new capital will cost government dearly as according to rough estimates, the government will have to spend a minimum of Rs. 3 lakh crore for creating and developing the State headquarters.
Which places have been the capital of Andhra in past?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· · · Till 1953: Madras was the capital of Telugu-speaking areas of Andhra and Rayalaseema under the integrated Madras Presidency. On October 1, 1953: The State of Andhra was constituted as per the recommendations of the States Reorganisation Commission and Kurnool (now in Rayalaseema) was declared its capital. On November 1, 1956: Hyderabad was declared the capital of the present Andhara Pradesh formed by the merger of State of Andhra and the State of Hyderabad (Telugu speaking areas under the Nizam rule). Now, with the declaration made for forming Telangana State, the Seemandhra people will have no choice but again to search for a new capital city and the names/cities doing rounds include Ongole, Guntur, Vijayawada and Visakhapatnam. As proposed, Hyderabad would be joint capital for Andhra Pradesh and Telangana for only 10 years and after that it would go to Telangana.
Telangana sparks more Statehood demands across the country
August 3rd, 2013
With the United Progressive Alliance (UPA) Coordination Committee giving nod to the divide Andhra Pradesh and create Telangana, demands for statehood from several regions of the country backed by political parties have re-emerged, and reluctant State governments are battling new fires.
From where are the demands of separate state coming in India?
· · · ·
The country is witnessing protests demanding creation of separate States from various regions which include: West Bengal: Gorkha Janmukti Morcha (GJM), fighting for a Gorkhaland state. Assam: Karbi Anglong state demands have resurfaced. The demand for Bodoland has also re-emerged. Uttar Pradesh: Previous government of UP under Mayawati had proposed splitting Uttar Pradesh into Purvanchal, Bundelkhand, Awadh Pradesh, and Paschim Pradesh, and this was ratified by the Assembly. Maharashtra: Creation of Vidarbha state is being supported by the BJP. The proposed state corresponds to the eastern 11 districts of the state of Maharashtra.
Govt. approves draft amendments to keep parties outside the purview of RTI Act
August 3rd, 2013
Draft amendments to the Right To Information Act (RTI) have been approved by the Union Cabinet in order to nullify an order of the Central Information Commission (CIC) bringing the 6 national political parties under the ambit of the Act. There is a consensus among almost all major political parties to the proposed amendments as they feel that the CIC has exceeded its jurisdiction by passing such an order.
What was the order passed by CIC regarding RTI Act?
Responding to the petitions by several RTI activists, the CIC had ruled that the national parties have to share details with RTI petitioners on issues related to their funding and the criteria on which they have selected candidates for fighting elections.
Why there is opposition to the CIC order?
As per the Communist Party of India (Marxist) on the CIC order which also echoes the sentiments of most of the parties on this issue, to apply the Right to Information Act and demand access to the internal deliberations of the party whether it be on policy matters, organisational decisions or selection of candidates will constitute a serious infringement of inner-party functioning, confidentiality of discussions and undermine the political party system itself. On the concerns of transparency of the funding and finances of political parties, laws already exists under which all political parties are required to submit their accounts to the Income Tax department and the Election Commission. Already under the RTI, the statement of accounts and the finances of the parties are accessible to anyone from the Election Commission.
Pacific Marshall Islands under threat of climate catastrophe
August 3rd, 2013
The Marshall Islands has sought support to ward-off a future Pacific “climate catastrophe” that, it says, will expunge it from the map without critical action on global warming. The government of the Marshall Island has called for decisive action on climate change and has insisted US Secretary of State John Kerry to attend the 16member Pacific Islands Forum to be hosted by Australia in September 2013 where a major climate declaration is likely to be made. Marshall Island seeks to present Majuro Declaration to the United Nations General Assembly to help renew global efforts on emissions reduction as the Pacific region battles rising seas and growing numbers of so-called climate refugees. The tiny Pacific atoll of 55,000 people, which is located at an average of just two metres above sea level, was already feeling the heat of global warming with an unprecedented seven-month drought in the north and a devastating king tide earlier this year triggering disaster declarations. The Marshalls government was already ferrying food and drinking water to 13 outer island communities due to drought-linked shortages that were threatening the export of copra, the dried-out flesh of coconuts from which oil is extracted, which underpinned its economy. The island is also facing immigration as climate refugees from neighbouring Kiribati and Tuvalu are taking refuge in the island. The government fears a two-metre sea level rise predicted by the World Bankbefore the end of the century.
Where are the Marshall Islands?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The Marshall Islands, officially the Republic of the Marshall Islands, is an island country located in the northern Pacific Ocean. Geographically, the country is part of the larger island group of Micronesia, with the population of 68,480 people spread out over 34 low-lying coral atolls, comprising 1,156 individual islands and islets. The islands share maritime boundaries with the Federated States of Micronesia to the west, Wake Island to the north, Kiribati to the south-east, and Nauru to the south. The most populous atoll is Majuro, which also acts as the capital.
CCEA approves 10% stake sell of IOC
August 3rd, 2013
The Cabinet Committee on Economic Affairs (CCEA) approved the proposal for sale of 10% of government stake in country’s largest refiner Indian Oil Corporation (IOC), which is likely to generate around Rs.3,840 crore to the exchequer. The selling will be carried out through the offer for sale route. Currently, the government controls 78.92% stake in IOC. IOC has a market capitalisation of Rs.54,519 crore. It posted a net profit of Rs.5,005 crore in 2012-13, up from Rs.3,954 crore in the 2012. The government has set the disinvestment target of Rs.40,000 crore through the stake sale of public sector undertakings. So far, it has fetched Rs.929 crore through stake sale in MMTC, Hindustan Copper and National Fertiliser.
India to launch indigenous Aircraft Carrier project
August 4th, 2013
India will launch its biggest ever Indigenous Aircraft Carrier (IAC)project, in terms of size and complexity of design, on August 12 at Kochi. Indigenous Aircraft Carrier (IAC) project: · It will be India’s biggest Indigenous Aircraft Carrier warship with a displacement of 40,000-tonne.
The project will render India to join the select club of nations like the U.S., France, Russia and the U.K., who are capable of designing and building 40,000-tonne aircraft carriers. · · · · · Being built by the Cochin Shipyard Limited (CSL) It has a length of 260 metres and a maximum breadth of 60 metres. Propelled by two shafts to attain speeds in excess of 28 knots. Two take off runways and a landing strip with three arrester wires. Very high degree of automation for machinery operation, navigation and survivability.
With the launch of the project, the warship will be fitted withLong Range Surface to Air Missile (LR SAM) system with multifunction radar and Close-in Weapon System (CIWS), MiG 29K fighter jets, the naval version of Light Combat Aircraft (LCA), helicopters, early air warning radar and direction finding systems. · After extensive sea trials in 2016, IAC will be commissioned by 2018, the time when Viraat who is currently serving as India’s aircraft carrier, would have clocked the time for its decommissioning.
RBI’s cash-tightening measures to stay until Forex market stabilizes: Subbarao
August 4th, 2013
RBI Governor D Subbarao has defended the central bank’s stance on choosing inflation over growth, saying that when the “inflation threshold limit is crossed, it becomes difficult to make a trade-off.” He explained that there is a threshold level of inflation. If the inflation is below that level, then RBI can make that trade-off. But if it isn’t, then it can’t afford to do the same as inflation hurts the poor section of the country the most and for this reason some sacrifice of growth is inevitable to curb inflation. He said that this sacrifice in growth is only for the short-term. In the long-term, curbing inflation will be supportive of growth. He refused to give any time-frame of the current cash-tightening measures taken by the central bank and indicated that these measures will stay until volatility in the foreign exchange market is curbed.
CCEA approves dilution of safeguards for FDI in multi-brand retail
August 4th, 2013
The Cabinet Committee on Economic Affairs (CCEA) has given its nod for the “dilution” of certain safeguards including relaxing the 30% sourcing norm and doing away with the mandatory 50% condition for backend infrastructure investment which were approved by Parliament while allowing 49% Foreign Direct Investment (FDI) in multibrand retail announced in 2012. Though the changes were strongly opposed by theMinistry of Micro, Small and Medium Enterprises (MSME) but they were ignored by the CCEA while approving the new norms seeking to attract much needed FDI investments by global retail chains in Multibrand Retail Trade (MBRT).
What are the changes in the FDI in multibrand approved by the CCEA?
As per the CCEA: · · The norm of 30% mandatory sourcing from small scale industries clause has been waived off. Under the new policy, medium scale industries with total investment not exceeding $2 million would also be made eligible for sourcing of manufactured/processed to products. This requirement would be reckoned only at the time of first engagement with the retailer and such industry shall continue to qualify for this purpose even if it outgrows the investment of $2 million during the course of its relationship with the said retailer. · The number of cities to be covered under the MBRT policy has also been increased by amending the clause of permitting cities or States with less than 10 lakh population also to open front end stores with the permission of the States or Union Territories.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· The clause that makes it mandatory for retail companies to invest at least 50% of total FDI brought in the backend infrastructure has also been diluted. Under the new policy, the 50% of total FDI investment would only apply to the first tranche of $100 million to be invested in backend infrastructure within 3 years. · Hikes in FDI caps in many sectors — from 74 % to 100 % in the telecom sector, from 26% to 49% in the insurance sector- have been approved.
The Cabinet Committee on Security has been allowed to go beyond 26% in defence on a case-to-case basis. It also raised sectoral caps and altered the approval route in petroleum and natural gas, single-brand retail, power and commodity exchanges in certain other sectors.
Sugathakumari conferred with Saraswati Samman 2013
August 6th, 2013
Noted Malayalam poetess Sugathakumari has been conferred with the prestigious Saraswati Samman 2012 for Manalezhuthu (the Writings on the Sand), a collection of poems in Malayalam.
About Saraswati Samman Award
Saraswati Samman Award was instituted by KK Birla Foundation in 1991 to honor outstanding literary work in any Indian language which is the part of Eighth Schedule of the Constitution. The Award is recognized as the most prestigious and the highest literary honor in the country. The award carries cash prize of 10 lakh Rupees, a plaque as well as a citation. Note: Ismat Chughtai was the first person to receive Saraswati Samman for his work in Urdu Literature.
France to reduce Rafale order, programme depends upon Indian defense deal
August 6th, 2013
France government has decided to cut back its orders for Rafale fighter jets from the current 11 per year to just 26 over the next six years. The move is likely to de-stabilize the entire Rafale programme unless Dassault Aviation is able to ink the India contract for the sale of 126 fighters for over €10 billion.
How the French decision to reduce the order can impact the Rafael programme?
France, in its new Defence Review, known in French as the Draft Military Programme (LPM),for French forces from 2014 to 2019, has announced to make savings particularly through a Reduction in Force (RIF) exercise, through the sale of immovable assets belonging to the country’s armed services and by limiting its orders for the Rafale. Earlier, Dassault Aviation, who is running the Rafael programme, had obtained the purchase by the military of 11 jets a year from the French government. But now the government has decided to cut back the order to 26 fighters in next six years creating a shortfall of €4 billion for Dassault. Now, the position is such that Dassault Aviation should count only on exports to support the production of the multirole combat aircraft. Dassault Aviation will have to sell some 40 planes to France’s commercial partners if it is to juggle production costs, the army’s requirements and the minimum number of aircraft it must build to maintain the commercial validity of the Rafale programme. However, the French government is still optimistic that the planes would be sold abroad. India is yet to sign the order for the purchase of 126 fighters for over €10 billion and beyond October 2013, with elections looming large on the horizon, it is difficult to think of a quick signature on the biggest defence tender ever floated by India.
CCEA nod to create Special National Investment Fund (SNIF)
August 6th, 2013
The Cabinet Committee on Economic Affairs (CCEA) has approved a mechanism to bring down the government shareholding in its six sick companies to the required 90% or less. As per CCEA decision, a Special National Investment Fund will be created to transfer shares of these companies — HMT, Scooters India, Hindustan Photo Films Manufacturing Co, ITI, Andrew Yule & Co and Fertilizers & Chemicals (Travancore) Ltd.
What will Special National Investment Fund do?
The government has decided to sell the 90% of less of the equities it holds in the above mentioned six sick companies. As per the SEBI’s minimum public holding norms, all government-owned units will have to have at least 10% of public holding. The number of shares required to make the six companies compliant with the minimum public share holding norm will be transferred to the Special National Investment Fund out of government share holding on an irrevocable basis, without any consideration (meaning, money changing hands). The fund will be managed by independent professional managers. It will sell the transferred shares within 5 years. The funds realized from the sale would be used for social sector schemes of the government.
CCEA gives nod to IIT-H’s project with Japan
August 6th, 2013
The
Cabinet
Committee
on
Economic
Affairs
has
approved
the ‘collaboration
of
IIT-
Hyderabad andJapan’- a joint project which aims at value-addition for the institute, along with an academic and industry interface between the institute and Japan. The project will be carried out via an Official Development Assistance (ODA) loan from the Japanese government and the Union HRD Ministry. Project cost: The project cost of Rs. 1,776.50 crore will be met through the ODA loan of Rs.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
1,501.72 crore, while the balance of Rs. 274.77 crore will be endured by grants from the HRD Ministry over a period of four years between 2013—14 and 2016—17.
How would the ‘Collaboration of IIT-Hyderabad and Japan’ project help?
The project would add value through collaborative interactions between academics and with the industry of Japan and by exchange of students and faculty. This will enhance cooperation between the two countries in the field of science and technology and human resource development. The project would also help create of a number of basic infrastructurefacilities and faster scaling up of the IIT with benefits for the Indianeconomy.
Health Ministry revokes Pioglitazone suspension
August 6th, 2013
As per a notification issued by the Union HealthMinistry, the suspension imposed on the diabetes drug Pioglitazone and all its combinations has been repealed.
Why Pioglitazone was banned earlier?
Under the Drugs and Cosmetic Act 30-B, sale of any drug, the use of which is prohibited in the country of origin, is banned in India until clinical data substantiate that it is risk free. There are several health risks involved with Pioglitazone. Though it is generally used in against type 2 diabetes and hyperglycemia, there has been higher occurrence of fractures hands and feet in female diabetics given this drug and is also associated with bladder cancer and congestive heart failure as found in some Western studies.
What are the new guidelines for the sale of Pioglitazone?
The Drug Technical Advisory Board (DTAB) has recommended that the drug may be allowed to be sold and consumed in the country, with sufficient caution. It suggested that the manufacture and sale of Pioglitazone may be allowed, provided the manufacturer clearly mentions on the package insert and promotional literature of the drug that Pioglitazone may not be used as a first line of therapy for diabetes. It has also recommended that the manufacturers carry a box warning, clearly mentioning the risks/side effects of the drug in bold red letters on the package. It has also asked the doctors to make sure that the drug is not used in persons with active bladder cancer or a history of bladder cancer in the family. Doctors should review the safety and efficacy of the drug after three to six months of prescription and the drug maybe continued only if the patient seems to be deriving any benefit.
EM-DAT data: Surge in natural disasters linked to population density
August 6th, 2013
As per a recent study report released by the Asian Development Bank (ADB), an increase in people living in perilous conditions, poverty, environmental degradation and climate change have been rendering India vulnerable to intense disasters. These conditions that lead to precipitation extremes are giving a rise to water-related catastrophes. As per EM-DAT data, India confronts the second most number of intense floods in the world after China, according to EM-DAT data. The study titled Climate-Related Disasters in Asia and the Pacific , shows an association between the rise in floods and storms and more precipitation and dryness linked to rising green house gases and temperatures. The EM-DAT data shows Bangladesh, China, India, Myanmar, thePhilippines, and Vietnam at exceptional risk.
Key findings of “Climate-Related Disasters in Asia and the Pacific” study:
Population density is a key factor that drives hydro-meteorological natural disasters (floods, storms), both statistically and 1% increase in population density is associated with a 1.2% to 1.8% increase in the frequency of intense hydrometeorological disasters. It implies that densely populated countries like India are more likely to incur over 100 deaths or have over 1,000 people affected when a storm or flood hits.
economically. · ·
High population vulnerability and deterioration climate trends, related to natural disasters in Asia and the Pacific, loom over the region’s economic success and affect its strategic importance in the global economy. In Asia and the Pacific, the population continues to grow relative to the global total, and its economy helps drive global economic growth. Still, global manufacturing has moved to some very hazard-prone and ill-prepared areas. For eg: The Thailandfloods of 2011 and their huge impact on the supply of computer hard drives and auto parts. · The poorer populations are more vulnerable to intense natural disasters.
Less poor economies — those with less than 30% of the population living below $1.25 Purchasing Power Parity (PPP) a day — are less likely to experience a lower frequency of intense natural disasters than economies with higher poverty incidence.
What is Emergency Events Database EM-DAT?
Emergency Events Database EM-DAT is a global database on natural and technological disasters that contains essential core data on the occurrence and effects of more than 17,000 disasters in the world from 1900 to present. Since 1988, EM-DAT is maintained by the Centre for Research on the Epidemiology of Disasters (CRED) at the School of Public Health of the Université catholique de Louvain located in Brussels,Belgium.
Objective of EM-DAT:
To assist humanitarian action at both national and international levels; to rationalize decision-making for disaster preparedness; and to provide an objective basis for vulnerability assessment and priority setting.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Rail Tariff Authority gets Cabinet’s approval
August 6th, 2013
Union Cabinet has given nod to the set up Rail Tariff Authority (RTA) in order to improve the financial situation of the Railways forthwith without any delay. The RTA has been mandated to completely eliminate the subsidy component and cross-subsidy of passenger fares from surplus generated from freight business completely within 10 years. To set up RTA, the Cabinet has directed the Law Ministry to initiate the process through an executive order. This will save time than going by the Parliament approval route which is a long drawn process that needs more than six months. By setting up the authority through an executive order, the government would obtain the first ruling from the authority for raising passenger fares. It would not only be speed up the process of decision-making, but rake in more revenue in the process.
What is the urgency to raise passenger fares?
The net loss in the passenger segment has been rising at a steep rate of 17.6% and has mounted to a whopping Rs. 22,507 crore in 2011-12. With the Railways finding it difficult to meet even their operating expenses, there has been little or no progress on the development and growth front. To make the Railways self- sufficient, the Authority’s domain is to generate surplus funds for creating and maintaining rail infrastructure on a long term basis.
Government considering giving TRAI authority to impose penalty
August 6th, 2013
As per Telecom Ministry, the government is thinking taking away penalizing powers, which are used to punish service providers for not complying with rules and regulations, from the Department of Telecom (DoT), and giving these to Telecom Regulatory Authority of India(TRAI).
Why the government intends to transfer the penalizing powers to TRAI?
As per the government, the Department of Telecom (DoT) is imposing excessive penalties on the telecom operators who fail to adhere to rules. As per industry estimates, telecom service providers are facing penalty to the tune of Rs. 6,500 crore. Of this, Rs. 1,900 crore has been imposed with regards to EMF (radiation) issues. The government intends to bring in proportionality so that penalty levied in some way is related to seriousness of the violation of the licence condition. Therefore, it is mulling to transfer penalizing powers from DoT to TRAI. Currently, while TRAI has the power to regulate and monitor rates, quality and other parameters of telecom and broadcasting services to protect consumer interest, it does not have the power to impose penalties on service providers for failing to adhere to rules.
Agni V missile expected to be operational by 2015
August 6th, 2013
According to Tessy Thomas, director, Agni Missile Project, DefenceResearch and Development Organisation (DRDO), two or three more successful test firings, the Agni V missile is likely to be operational by 2015.
Salient features of Agni V
· · · · · ·
Intercontinental ballistic missile developed by the Defence Research and Development Organisation (DRDO) of India. Part of the Agni series of missiles, one of the missile systems under the original Integrated Guided Missile Development Programme. Range of 5,500–5,800 km. It will allow India to strike targets across Asia and into Europe. A 3 stage solid fuelled missile with composite motor casing in the second and third stage. Carry MIRV (Multiple Independently Targetable Re-entry Vehicles) payloads. A single MIRV equipped missile can deliver multiple warheads at different targets. o o Incorporate advanced technologies involving ring laser gyroscope and accelerometer for navigation and guidance. First successfully test-fired by DRDO from Wheeler Island off the coast of Orissa on April 19, 2012. With this, India joined an “elite nuclear club” that also included China, Russia, France, the US,the UK and possibly Israel.
India win over Zimbabwe is country’s first-ever ODI Series whitewash on foreign soil
August 6th, 2013
History was created when India thrashed Zimbabwe in the final match of the five-match ODI series played in Zimbabwe. The victory marked India’s first-ever five-match ODI series whitewash on foreign soil. The Indian team, under the captaincy Virat Kohli, achieved the feat when they pipped Zimbabwe by 7 wickets in the fifth and final one-dayer at Bulawayo.
Cyber criminals stealing information during tax filing rush: McAfee
August 6th, 2013
Cyber security firm McAfee has warned online tax filers to be cautious of the phishing scams and fake ads which are being perpetrated by cyber criminals to make the most of income tax e-filing rush to to steal confidential financial data of users. Cyber criminals try to take advantage of the rush during the last days of e-filing as tax payers try to meet the deadline set by the I-T department. The Central Board of Direct Taxes, the administrative authority of the Income-Tax Department, has extended the deadline for filing returns, both manual and electronic, to August 5, 2013.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
As per McAfee, cyber criminals use phishing scams where an e-mail is sent to a number of people, saying income-tax refund is available, and once it is clicked, the user is directed to a website similar to the one owned by Income-Tax Department. Consumers are then directed to disclose personal financial details, which help scammers empty their credit card or bank account. These criminals also use fake tax filing ads that claim to help you to file taxes and direct you to fraudulent websites that steals your financial data. McAfee has asked people filing tax returns online not to open any suspicious websites or emails from an untrustworthy source. The Income-Tax Department does not request personal information such as PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mails.
Rajeev Rishi appointed as Chairman and MD of Central Bank of India
August 6th, 2013
The Central Government has appointed Rajeev Rishi, Executive Director, Indian Bank has been appointed as the Chairman and Managing Director, Central Bank of India. He will have a tenure of five years from the date of taking over charge. Prior to his appointment as Chairman & Managing Director of Central Bank of India Shri Rishi was the Executive Director of Indian Bank since October 2010.
Arundhati Bhattacharya is the new managing director of SBI
August 6th, 2013
The Govt. has appointment Arundhati Bhattacharya has been appointed as the new managing director of the State Bank of India (SBI). Previously, Bhattacharya was the managing director of SBI Capital, the merchantbanking arm of the bank.Ms Arundhati Bhattacharya will be State Bank of India’s first woman managing director. The first woman MD of a Public sector bank in India was Ms Ranjana Kumar. The Government of India appointed Ms Ranjana Kumar as the Chairperson and managing Director of the Indian Bank, she became the first woman to become head of a public sector bank in India.
Amazon’s Jeffrey Bezos to buy Washington Post
August 8th, 2013
The Washington Post, an American daily newspaper, has announced its sale to Amazon founder and CEO Jeffrey P Bezos. Bezos has agreed to buy the newspaper assets of the Washington Post Company for $ 250 million. The decision to sell the assets was made following the decline in revenue and fall in the circulation of its copies. The Washington Post has been owned by the Graham family for 80 years. Currently, Donald E. Graham is the Chairman and Chief Executive of Washington Post.
World Bank & ADB to provide $ 400m to disaster-hit Uttarakhand
August 8th, 2013
The World Bank and the Asian Development Bank (ADB) will provide $ 400 million for reconstruction and rehabilitation in the disaster-hit areas inUttarakhand. The fund would be spent in works in sectors including the housing, tourism, irrigation, agriculture, education, and health sector. Of the total money received, $ 95 million would be spent in the construction of roads. Also, $ 20 million would be given to the five hydro-power projects that are funded by the ADB and have been damaged due to the recent flood-disaster.
China unveils first Giant Panda channel
August 8th, 2013
China Network Television has launched an internet channel ipanda.com dedicated to the conservation of Giant Panda. The website will show live 24-hour high-definition (HD) Internet broadcasts of the daily activities of the 80 endangered Pandas at the Chengdu Research Base of the Giant Panda Breeding in the southwest Sichuan Province which is China’s premier panda breeding facility. Documentaries and a 30-minute panda-themed programme will also be broadcast everyday on the siteipanda.com. Giant Pandas are one of the world’s most endangered species. About1,600 pandas live in the wild, mostly in the mountains of Sichuan, while more than 300 live in captivity.
HAL signs MoU with Transparency International India
August 8th, 2013
Hindustan
Aeronautics
Ltd.
(HAL) has the
inked coalitions
a
Memorandum
of to
Understanding promote
(MoU)
with fair
the and
Transparency International India (TII),
against corruption,
corruption-free,
transparent business practices in the company. TII will advise HAL and support it in implementing its integrity pact programme. HAL is the firstdefence public enterprise to sign the MoU.
About Transparency International
Transparency International (TI) is a non-governmental organization that monitors and publicizes corporate and political corruption in international development. It publishes an annual Corruption Perceptions Index, a comparative listing of corruption worldwide. The headquarters is located inBerlin, Germany. Note: Currently India ranks 94th on the CPI released in December 2012.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Researchers produce World’s first lab-grown beef burger
August 8th, 2013
Scientists from the Maastricht University in the Netherlands have produced the first lab-grown beef burger of the world which is being seen as a step towards food revolution. The burger was served to the volunteers in London.
What is so special about this Hamburger (World’s first lab-grown beef burger)?
The world’s first lab-grown beef burger, developed in the lab of Professor Mark Post of Maastricht University in the Netherlands, weighed 140g with production cost 250000 Euros or 330000 US dollar. The beef used in the burger was developed from the stem cells extracted from a living cow. As claimed by scientists, when mixed with breadcrumbs, egg powder and salt, for improving its taste; as well as coloured with red beetroot juice and saffron; it will taste very much like a usual burger.
How the beef used in the burger (World’s first lab-grown beef burger) was produced?
The beef used in the burger was developed by using the stem cells taken from a living cow. Stem cells, as we know, are the master cells with a unique capability to grow into multiple types of cells i.e. blood, tissue, muscle, etc. Scientists, then placed these cells in a nutritional medium to grow into small strands of meat. Thousands of these meat strands were used for making the burger.
Why there is so much excitement about the in-vitro development of beef-burger?
actually rearing any animal. The research has the following prospects: ·
Many view this development as a step towards food revolution as this success has the capability to produce meat without It can address the concerns of growing food demands due to increasing population.
It can also alleviate the pressure on environment as doing away with animal rearing for meat production would also reduce the carbon footprint and also lessen the pressure on land, water and other resources. (Cattles like pig, cow, chicken and buffaloes are known to produce methane which is also a Green House Gas). · A study found that the lab-grown beef makes use of 45% less energy than average global representative figure for farming cattle. Besides, it also produces 96% less greenhouse gas emissions and requires 99% less land as well.
What is PETA’s stance on growing meat in lab?
PETA, People for the Ethical Treatment of Animals, supports attempts to grow meat in labs because they say that will greatly diminish the amount of animal suffering. Donor animals are needed for the muscle cells, but taking those samples doesn’t hurt the animal. One sample can theoretically provide up to 20,000 tons of lab-made meat. Continue reading…
Raghuram Rajan appointed as the next RBI Governor
August 8th, 2013
Raghuram Govind Rajan (50), who is currently the Chief Economic Adviser to the Govt. of India, has been appointed as Governor of the Reserve Bank of India (RBI) for 3 years. He will take over from D. Subbarao who demits office on September 4, 2013. The appointment was approved by Prime Minister Manmohan Singh. Dr. Rajan, who is credited to have correctly predicted the 2008 financial crisis, is set to take over the helm of the central bank at a time when the economy is grappling with a multi-pronged crisis of high consumer price inflation, industrial slowdown, sharp depreciation of the rupee and a widening current account deficit.
Tension escalates between U.K.-Spain over Gibraltar
August 8th, 2013
There is a sudden spike in the Anglo-Spanish conflict over Gibraltar asSpain has threatened to impose border charges and close airspace which can turn into a form of economic blockade of the peninsula.
Where is Gibraltar?
Gibraltar, less than six square kilometres, is a limestone outcrop at the mouth of the Mediterranean. The Rock- as it is popularly known – is a British Overseas Territory, although Spain, which it borders, also claims sovereignty. The people who live there are British citizens but they run their own affairs under a chief minister.
How Gibraltar is governed?
Gibraltar is a self-governing territory in all matters – including taxation – except foreign policy and defence, which are in the hands of the UKgovernment.
Strategic Importance of Gibralatar:
It is strategically important as located at the mouth of the Mediterranean only 20km (12 miles) from the north coast of Africa. It has a NATO base, including a port and airstrip.
What is the UK-Spain-Gibraltar conflict?
The conflict over the sovereignty of Gibraltar is not new but has been for centuries. It is this conflict which has manifested itself in the form of a dispute over fishing rights. Both Spain and Gibraltar have claimed jurisdiction over the waters off the Rock, and both sides have complained about breach into what they claim are their waters. Both nations have also invoked environmental laws in a bid to strengthen their claims. The tension between the two sides escalated when Gibraltar – without prior notice- dropped concrete blocks into the bay to create an artificial reef to encourage sea life to flourish in what it sees as its marine reserve. Spain claimed that it has contravened its own environmental laws and damaged its fishing industry, because Spanish fishing nets were in danger of catching on the concrete reef blocks.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
What Spain has threatened to do?
Spain has imposed more rigorous border checks at the crossing point between Spain and Gibraltar which led to extremely long traffic queues. Spain is also contemplating introducing a 50 euro (£43) fee to cross the border, which is at Spain’s southern tip and has also threatened to close its airspace to flights heading to Gibraltar. The Spanish tax authorities can launch an investigation into property owned by around 6,000 Gibraltarians in neighboring parts of Spain and the law can be changed so that online gambling companies operating from Gibraltar have to use Spanish servers if they want to operate in Spain, thus coming under Madrid’s taxation regime. Spain can also stop concrete and other materials being brought in through the border for the building of the reef.
Is fishing the only issue annoying Spain?
No. Apart from fishing there are other issues too. There is considerable traffic between Spain and the Rock, including people who cross the border daily to live and work, but Madrid alleges that the border is being abused. Other problems include Cigarette smuggling and circumventing of Spanish residency taxes as Spain see it a corporate tax haven which allows companies and wealthy individuals to avoid paying millions.
Is this conflict over Gibraltar new?
No. The conflict has continued for centuries. First Spain fought Moorish invaders. Then it lost Gibraltar to an Anglo-Dutch force in 1704. The Spanish, despite formally ceding it to London in the 1713 Treaty of Utrecht, have wanted it back ever since. Under Franco, Spain cut Gibraltar off by sealing its frontier. In 1984 the Spanish and UK governments started negotiations, but the process eventually crumbled over Spain’s demands that the territory should revert to full Spanish sovereignty after 50 years of shared control. However, the border was reopened in 1985.
The Cordoba Agreement:
The Cordoba Agreement was signed in 2006 between the governments of Spain, the UK and Gibraltar. The pact included deals on issues like border crossings and access for flights. It also committed them to a tripartite forum for regular talks, but Madrid is not happy to abide by it.
Izumo, Japan’s biggest warship unveiled
August 8th, 2013
Japan has unveiled its biggest warship since World War II called Izumo.
About Izumo:
Flat top destroyer resembling a conventional aircraft carrier. Nearly 250 metres (820 feet) long flight deck which can carry up to 14 helicopters. Used particularly in anti-submarine warfare and border-area surveillance missions. It will boost Japan’s ability to transport personnel and supplies in response to large-scale natural disasters, like the devastating earthquake and tsunami in 2011.
August 9: International Day of the World’s Indigenous People observed
August 9th, 2013
The world observed the International Day of the World’s Indigenous People on August 9, 2013. The theme selected was “Indigenous Peoples Building Alliances”. The theme was aimed at emphasizing the importance of honouring arrangements between States, their citizens and indigenous peoples that were designed to recognize indigenous people’s rights to their lands and establish a framework for living in immediacy and entering into economic relationships.
How did the International Day of the World’s Indigenous People come into existence?
In 1994, the General Assembly of United Nations promulgated that the International Day of the World’s Indigenous People will be celebrated every year during the first International Decade of the World’s Indigenous People (1995 – 2004).
Recognized NABL labs to test mid day meals
August 11th, 2013
Recognized laboratories under the National Accreditation Board for Laboratories (NABL) will collect the samples to test the microbiological presence/absence of e-coli, chemical parameters such as moisture content, fats, proteins and calorific value of the mid day meals. The measure has come after the death of 23 children in a school in Chhapra in Bihar who died after consuming contaminated food served in the mid-day meal scheme.
How the mid day meals will be monitored?
Periodic reports and monitoring at the local level through the school monitoring committees as well as by the State government officials. · An independent monitoring through 41 monitoring institutes such as IIT Chennai, Visva Bharati, and the XLRI has also been ensured by the Centre.
The Joint Review Missions (JRM) visit States at regular intervals. Presently 7 JRMs have been conducted, and 13 more are planned. · Surprise visits will be made from time to time.
What are the steps taken by the government to improve the quality of mid day meal?
HRD and Tourism Ministries are working together on imparting training for cooks through Hotel Management Institutes and the Food Craft Institutes. A 10-day full time course will be organized which will impart knowledge in terms of the caloric and
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
nutritive values. The course will emphasize on the methods of cooking for retaining the nutritive value of cooking ingredients, issues of malnutrition and nutrition levels and the importance of regular washing of hands.
India may get lesson from China’s plans to curtail brain drain
August 11th, 2013
The government of China has taken an initiative to get back some of the country’s best and brightest minds. The brain drain problem was taking away top scientific talent of the country. The Communist Party of China’s (CPC) co-ordination groups stated that 87% of top specialists in science and engineering who went overseas had no plans to return.
Steps taken by the Coordination Groups of China to curb brain drain:
In 2010, the government launched a 10-year development plan to bring back 2,000 top Chinese specialists in the fields ofinformation technology, aerospace and biotechnology. The Ministry of Education has also set up a 600-million-Yuan fund for 20,000 returnees to carry out research in the sciences. The State run Chinese Academy of Sciences (CAS), a top research body, has put in place a programme offering two million Yuan to returnees for research. The CAS succeeded in bringing back 1,568 scientists in the ten years. · The government has also started reaching out to younger overseas Chinese students. It has launched summer camps funding as many as 30,000 Chinese residing in 55 countries to travel to China every year in an attempt to make them more familiar with their society.
These measures taken by China may hold some lesson for Indiawho is facing the same challenge of brain drain. As per UNDP estimates,India loses $2 billion a year because of the emigration of computer experts to the U.S. Indian students going abroad for their higher studies costs India a foreign exchange outflow of $10 billion annually.
Foreign Telecom vendors’ refusal to share design details delays TTSCC
August 12th, 2013
Foreign telecom equipment vendors have refused to share their design details with the India’s telecom equipment testing labTelecom Testing and Security Certification Centre (TTSCC) for it may conflict with their business interests. TTSCC was decided to be set up at the Indian Institute of Science (IISc), Bangalore by the Department of Telecom (DoT) keeping in view the security issues. Due to this refusal, the setting up of TTSCC which would have become fully operational by April 2013 is now delayed. The DoT was asked to start the first round of security audit beginning mid-2012, but now all this will be further delayed.
What does this Foreign Telecom vendors’ refusal to share design details mean to India?
This is a major debacle for the government’s initiative towards creating a ‘safe to connect’ telecom network in the country. In 2001, the Centre had asked the DoT to ensure that all telecom service providers (TSPs) should induct only ‘safe to connect’ telecom equipment in their network, besides ensuring annual security audit of all TSPs to create a telecominfrastructure sans bugs and ‘leakages’.
Rising concerns about foreign telecom equipment
The US and other western countries are more cautious while deploying foreign made telecom networks especially those being imported from Chinese equipment makers, Huawei and ZTE. The US also found security loopholes in products supplied by Huawei through testing procedures and has thus banned supplies from Huawei.
Who conducts the telecom equipment testing at present in India?
The testing of equipment in India is dependent on unreliable methods of self-certification by operators. The National Security Council had highlighted the fear of attacks on telecom networks and stealing of sensitive information and data.
RGGVY programme to be continued for rural electrification: Government
August 12th, 2013
In order to continue providing electricity to all rural households the government has decided to carry on with the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). The continuation of RGGVY in the current Plan period has been approved by the Cabinet Committee on Economic Affairs (CCEA).
Requirements to continue the Programme:
· over works.
Capital subsidy of Rs 35,447 crore will be needed to continue the programme, including Rs 12,849 crore towards run
Rs 23,397 crore would be met through Gross Budgetary Support for the 12th Plan period (2012-17) and the remaining Rs 12,050 crore would fall over to the 13th Plan. · · The programme will cover all remaining census villages and habitations with a population of above 100. Launched in April 2005 with the objective of providing electricity to all rural households. The programme seeks to provide free electricity connections to BPL (Below Poverty Line) households at the rate of Rs 3,000 per connection in villages and habitations with population of above 100.
About Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY):
·
The scheme was initially approved with capital subsidy of Rs 5,000 crore for the last two years of the 10th Plan period ending March 2007.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
It continued in 11th Plan with capital subsidy of Rs 28,000 crore. During 2011-12 an additional capital subsidy of Rs 6,000 crore was approved by the Planning Commission. · During the previous two Plan periods, 648 projects – entailing a total cost of Rs 42,060.44 crore – covering 1,12,795 un-electrified villages, 4,02,364 partially electrified villages and 275.69 lakh BPL households were sanctioned.
Robert Mugabe re-elected as Zimbabwe’s President
August 12th, 2013
Robert
Mugabe
has
been
re-elected
as Zimbabwe’s
President
for
next
five-year
term
amid
Zimbabwe’s Movement of Democratic Change (MDC)allegations of fraud in the elections. MDC has decided to challenge an election victory by President Robert Mugabe’s Zanu-PF party in the court. Western observers were kept out by Harare and independent domestic monitors have described the vote as deeply flawed by registration problems that may have disenfranchised up to a million people.
Hassan Rouhani is the new President of Iran
August 12th, 2013
Hassan Rouhani sworn as the new President of Iran in the ceremony held at the Iranian Parliament in Tehran. Rouhani, who will have 4-year tenure as President, is the 7th (different) President of Iran after the Islamic Revolution of 1979. He secured a little over 50% votes to win the election and succeeded Mahmoud Ahmadinejad.
Some facts about the election of the President in Iran:
The President of Iran is elected as per rules envisaged in the country’s Constitution. As per the Constitution of Iran, the President is elected by an absolute majority of votes polled by the voters. The President must be elected from among religious and political personalities. The President is elected for 4-year term by the direct vote of the people. His re-election for a successive term is allowed only once.
Chakde India: India wins historic bronze at Junior Women Hockey World Cup
August 12th, 2013
India’s junior women hockey team created a history by clinching country’s first ever bronze medal in the junior women hockey World Cup as they defeated England. The Indian girls beat England 3-2 in the bronze medal play-off to finish on the podium – their best-ever showing in the marquee event. Captain Ms Sushila Chanu held that the entire team was delighted to have made the country proud.
Parimarjan Negi regains Politiken Cup
August 12th, 2013
Grandmaster Parimarjan Negi (Born: February 9, 1993 (age 20))put up a brilliant performance to regain the Politiken Cup chess Title in Copenhagen,Denmark. Parimarjan had recently won the DCInternational Open in US and tied for the top place in the World Open. The youngest international Grandmaster in chess won the same tournament in 2009. This was Negi’s second title in the last three outings. Parimarjan Negi studies in the Amity International School and has won various tournaments there. Negi became the youngest Grandmaster inIndia on July 1, 2006 by drawing with Russian Grandmaster Ruslan Sherbakov and finished with six points from nine rounds of the Chelyabinsk Region Superfinal chess tournament in Satka.
Parimarjan Negi replaces Pendyala Harikrishna as India’s youngest ever Grand Master.
Intermixing of Population happened in India for 2,300 years
August 12th, 2013
As per the scientists from the Hyderabad based Centre for Cellular and Molecular Biology (CCMB) and Harvard Medical School, Indian population was derived from two major ancestral populations Ancestral North Indians (ANI) and Ancestral South Indians (ASI) which don’t have major genetic differences. The ANI-derived populations and ASI-derived populations mixed together to form the modern day population in the long time period of 2300 years. This admixing continued for an extended period until practice of endogamy became the norm. The extent of admixture increased among the groups including the isolated tribes like the Paliyar that live in Kodaikanal Hills and Bhil that are primarily located in Rajasthan. But some populations like the Vysya from Andhra Pradesh didn’t experience the mixing from neighbouring groups in India for around 3,000 years.
What is ANI and ASI population?
The ANI population is related to West Eurasians (people of Central Asia, the Middle East, the Caucasus and Europe) where as the ASI population is specifically related to the indigenous Andaman Islanders.
No significant difference between groups across the Indian population:
As per researchers, Indians as a whole do not have major genetic differences even though endogamy has been largely practiced for the last 1,900 years. The endogamy in the respective admixtured populations ensured that no further gene mixture happened between groups for the last 1,900 years and then later caste came and significantly reduced the chances of admixture and made it nearly zero.
August 12: International Youth Day
August 12th, 2013
International Youth Day was observed across the world on August 12, 2013
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Current Affairs – August 2013 from GKToday
The theme for 2013 was Youth Migration: Moving Development Forward. The theme concentrates on the issue of youth migration. International migrants comprise major number of Young people. In 2010, there were around 27 million international young migrants. Migration can often provide valuable opportunities and add to the development of communities and society but it can also pose risks and lead to unacceptable situations including discrimination and exploitation. The day was observed to raise awareness about the opportunities and risks associated with youth migration.
India’s launches indigenously built aircraft carrier INS Vikrant
August 14th, 2013
India launched its first indigenously built aircraft carrier INS Vikrant which was a remarkable moment in the $5 billion project that seeks to enhance the country’s power and curtail the rising influence ofChina. INS Vikrant will come into full service in 2018 which will make India the fifth nation tohave designed and built its own aircraft carrier going ahead of China to join an elite club that includes Britain, France, Russia and the United States.
INS Vikrant
Vikrant, which means “courageous” or “bold” in Hindi, is a 40,000-tonne vessel which will carry Russian built MiG-29 fighter jets and other light aircraft. · · Its hull design and some of its machinery is domestically made and most of its weaponry will be imported as well as its propulsion system which was sourced from GE in the United States. Its primary role will only be to defend the naval fleet and it will not be used for ground attacks. It will be positioned in the Indian Ocean region where the world’s commercial and economic interests conflate. In the next 4 years, the ship will be tested after fitting it with weaponry and machinery
It’s a defence carrier and will attack platforms that are coming to attack our naval fleet · ·
Under nutrition in women linked with their unequal status
August 14th, 2013
The unequal social status of women could play a significant role in the mysterious high under nutrition levels. India has higher than expected levels of stunting and under-weight among children and adults. It’s quite perplexing that children in India are shorter on average and even than poorer children in sub-Saharan Africa. But children’s poor growth is no surprise, given the enormous range of threats to early life health and net nutrition, sanitation and the disease environment, problematic feeding practices, and low social status of young women. Key observations of Experts:
Nobel laureate Amartya Sen focused on food availability and consumption and as per him food consumption alone does not explain the scale of India’s under-nutrition. Dean Spears, an economist, has shown that poor sanitation and open defecation in particular which can be accounted for a large part of the international variation in height, including that between India and sub-Saharan Africa. Diane Coffey an economist and a PhD candidate at the Office of Population Research at Princeton University, along with Reetika Khera of the IIT, Delhi has shown that the younger daughters-in-law in a rural joint family have shorter children on average event after controlling other possible factors. As per him, the difference in status between two daughters-in-law is small compared to other social hierarchies in Indian society, such as between men and women, and between high and low caste people. It is possible that these larger status differences also have important implications for Indian children’s health and well-being.
Research by Angus Deaton, Professor of Economics at Princeton University, has shown that Indian women’s nutrition is not improving at the same pace as men’s. He has found that Indian men’s heights are growing at nearly three times the rates of women and the gap is widening and genetic variations across and between countries are not important for height.
RBI to auction Cash Management Bills (CMBs) to control liquidity
August 14th, 2013
Taking further measures to control the liquidity in order to boost the position of rupee which has been on a decline for past some time, the RBI has decided to auction short-term Cash Management Bills (CMBs) for an amount of Rs. 22,000 crore every Monday. RBI will be selling Rs.11,000 crore each in two CMBs maturing in 35 and 34 days on Monday and Tuesday, respectively. The bills will mature on 17 September, 2013, when banking system liquidity gets strained on account of advance tax outflow. The auctions will be conducted using “Multiple Price Auction” method and the Cash Management Bills will have the generic character of Treasury Bills.
What are Cash Management Bills?
CMBs are short-term paper with the flexibility of fixing tenure according to the requirement of the government. The basic difference between a treasury bill and a CMB is that the former has fixed tenure of 30, 91, 182 and 364 days, while a CMB can be anything between seven days and one year. CMBs can be structured in such a way that they are redeemed at that time to infuse liquidity but treasury bills do not offer that flexibility.
Why the RBI is auctioning CMBs (Cash Management Bills)?
Past few months have brought some serious depreciation in the value of rupee against the dollar with rupee crossing the 6o mark versus dollar. The country is also facing the problem of inflation. RBI has been taking liquidity tightening measures to curb the instability of the currency. As part of its liquidity tightening measures, on 15 July, RBI said banks can borrow up
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to Rs.75,000 crore of money from it at 7.25%. Any excess of it shall be borrowed at a special rate called Marginal Standing Facility (MSF), which it raised to 10.25% from 8.25%. However, the rupee continued to fall and RBI, on July 23, further restricted this liquidity to 0.5% of a bank’s own demand base. This effectively halved the money a bank can borrow from RBI to Rs.37,500 crore. It also directed banks to keep 99% of their cash reserve ratio, or the portion of deposit that banks need to keep with RBI on a daily basis. The central bank has clarified that it gives priority to contain rupee-volatility and it chooses to curb inflation over growth. The latest measure of auctioning CMBs is aimed at absorbing the excess liquidity from the economy even as demand for such short-term bills is high. This is expected to bring some positive effect in terms of improving the position of Rupee as well as some impact on inflation.
Can’t opt for high inflation to promote growth: RBI
August 14th, 2013
RBI has clarified that it could not espouse a policy of tolerating higher inflation in order to promote growth because such a stance would not yield the desired results. RBI cited a study which, although, gave empirical evidence that lower real interest rates could stimulate growth and investment, it didn’t recommend a policy of higher inflation tolerance as the means to lower real rates. The study was conducted in the backdrop of criticism that the RBI was adopting an anti-inflationary monetary policy stance to the impediment of growth. As per the study, the incremental capital output ratio has increased in recent quarters and correspondingly, the implicit marginal productivity of investment has also declined. As a result, lower levels of real interest rate would have also contributed to the slowdown in growth.
Why RBI can’t adopt a policy which tolerates high inflation?
· ·
The negative impact of inflation on growth outweighs its positive impact if real rates are lowered beyond a threshold. Tolerating higher inflation with growth supportive monetary policy response is unlikely to stimulate growth to the desired extent since the adverse impact of higher inflation on growth would more than offset the favorable impact of growth supportive monetary policy.
·
The adverse growth impact of high inflation was seen to operate primarily through compression of consumption demand since investment demand is more sensitive to lower real rates than higher inflation.
What is real interest rate?
The real interest rate is the rate of interest an investor expects to receive after allowing for inflation. It can be described more
formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate. If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, he would expect to earn a real interest rate of 3%.
Magnetic flip of Sun may affect Earth’s climate
August 14th, 2013
The Sun’s magnetic field is expected to undergo a 180-degree flip in the coming 3 to 4 months as its magnetic north and south poles reverse positions.
How does this Magnetic Flip take place?
The outer layers of the Sun consist of a soup of charged particles whose steady motion influences the alignment of the Sun’s magnetic field. There are two winds of such charged particles one moving east-west and the other north-south and these tug at each other to move the magnetic north and south poles of the Sun thus making them go a full circle onceevery 22 years. This period is called a solar cycle which results inreorientation of the solar dynamo and which is the source of the Sun’s magnetic field. The magnetic field will flip half a circle in the coming months marking the end of 11 years of the 24th such cycle on record and once the second pole catches up, the next half of the cycle will start.
Effects of Magnetic Flip:
· · · ·
It could affect storms on Earth and even disrupt satellites. During this flip, activity on the star’s surface intensifies, producing violent solar flares and coronal mass ejections.
A weak electric field that rises out of the Sun and pervades the Solar System experiences small disturbances. As the moving Earth dips in and out of this field, stormy space weather can be stirred up around Earth. The Cosmic rays which are high energy particles accelerated to nearly light speed by supernova explosions and other violent events in the galaxy, could also be affected and thus influencing cloudiness and the climate on Earth.
Govt. mulls making fingerprints compulsory for new SIM cards subscribers
August 14th, 2013
Government is looking forward to make it mandatory for the telecom service providers to take fingerprint or any other biometric feature of the subscriber when he/she applies for a mobile connection in future. As per the suggestions of Ministry of Home Affairs the Department of Telecom (DoT) may need to maintain a central database of all subscribers with bio-metric parameters similar to the Aadhaar. The final decision is still due.
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Current Affairs – August 2013 from GKToday
Pinaka rockets tested successfully
August 14th, 2013
Armament Research and Development Establishment(ARDE) successfully test firedPinaka rockets were from aMulti- Barrel Rocket Launcher (MBRL) from a base at Chandipur. The MBRL is capable of acting as a force multiplier and has been developed to supplement artillery guns. Pinaka has undergone several tough tests since 1995 and has already been introduced into the armed forces. In July, 2013, a more advanced 2nd generation i.e. Pinaka Mark II Multi-Barrel Rocket Launcher System had undergone successful firing trials at Chandhan area in Pokhran field firing ranges in western Rajastan and is in development stage.
Pinaka and its applications
· · · · salvos.
Pinaka is an unguided area weapon rocket system with a range of 40 km, meant to neutralise large areas with rapid It can fire a salvo of 12 rockets in 44 seconds, the battery of six launchers can neutralise at a time a target area of
3.9 sq km. The system’s capability to incorporate several types of warheads makes it deadly for the enemy as it can even destroy solid structures and bunkers. The quick reaction time and high rate of fire of the system gives an edge to the Army during a low amount conflict situation
Rajya Sabha passes Companies Bill 2012
August 14th, 2013
Rajya Sabha has passed the Companies Bill 2012 in order to replace the outdated Companies Act, 1956. Both the houses of Parliament have passed the Bill and before it becomes law it will go to President Pranab Mukherjee for his assent. The existing statute for regulation of companies in the country, viz. the Companies Act, 1956 had been under consideration for quite long for comprehensive revision in view of the changing economic and commercial environment nationally as well as internationally. The Companies Act of 1956 replaced the first Companies Act that was created in 1919 (the pre-independent India). The Act of 1956 has been amended 25 times in all these years since its formation.
Key features of Companies Bill 2012:
·
Spending of funds by companies for Corporate Social Responsibility (CSR) will be mandatory. Companies are required to spend at least 2 % of their net profit on CSR. The companies will also have to give preference to the local areas of their operation.
· · · · · · · · · · ·
If the companies are unable to meet CSR norms, they will have to give explanations and may even face penalty. The amended legislation will help to control major source of corporate law-breaking for falsely inducing a person to enter into any agreement with bank or financial institution with a view to get credit facilities. With view of interests of employees, company will have to pay 2 years’ salary to employees in case it shuts operations. The appointment of auditors for five years shall be subject to ratification by members at every annual general meeting. The limit in respect of maximum number of companies in which a person may be appointed as auditor has been proposed as 20. The maximum number of directors in a private company has been increased from 12 to 15 and which can be increased further by special resolution. The financial year of any company can end only on March 31 and the only exception is for companies which are holding subsidiary of a foreign entity requiring consolidation outside India. It makes auditors subject to criminal liability if they consciously or carelessly omit certain information from their reports. It has a stipulation that keeps a check on very expensive remunerations for the board of directors and other executives of the companies. This will protect the interest of shareholders as well as employees. The amended legislation also limits the number of companies an auditor can serve to 20 besides bringing more clarity on criminal liability of auditors. The proposed legislation would ensure setting up of special courts for speedy trial and stronger steps for transparent corporate governance practices and curb corporate misdoings.
Environmental activists oppose Mithi Virdi Nuclear Plant
August 14th, 2013
Environmental activists in Gujarat are against the proposed Rs. 6,000 crore Mithi Virdi nuclear power plant in Saurashtra region’s Bhavnagar district to be set up by NPCIL (Nuclear Power Corporation of India Limited). They have written to the Ministry of Environment and Forests (MoEF) that alleging the Coastal Regulatory Zone (CRZ) clearance by the State government was given without any site visits and documentation of ground realities.
Why Environmental activists opposing the Mithi Virdi nuclear power plant?
As per the activists, clearance for the project has been given by overlooking safety aspects, site clearance report, and without undertaking any site visits. They argue that the basics like population increase in the immediate vicinity of the proposed plant
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have not been taken into account. According to the activists CRZ clearance is an act of endorsing the illegal and unconstitutional act of NPCIL and Engineers India Limited (EIL). Activists earlier alleged that the EIL were not authorized to conduct an environment impact assessment for a nuclear power plant.
IRDA relaxes investment norms
August 14th, 2013
Insurance Regulatory and Development Authority (IRDA) has relaxed the investment norms for the firms like Housing finance andinfrastructure finance companies to allow these companies to get higher funding from the insurance companies.
Steps taken by IRDA:
·
The investments in debt instruments issued by housing finance companies as specified in the investment regulations shall not be included under the exposure to financial and insurance activities. Currently, such exposure to housing finance companies and infrastructure finance companies is treated as exposure under financial and insurance activities but the industry exposure limits will continue to apply for such investments.
·
The single investee debt exposure limits in housing finance companies have been enhanced to 20% of equity plus free reserves from existing 10% limit. The limit mentioned above can be further increased by an additional 5% with the prior approval of board of company.
·
The group and promoter group exposure norms will continue to apply on the investments made in a housing finance company.
Wildlife Protection Amendment Bill 2013 introduced in Rajya Sabha
August 14th, 2013
The Environment and Forests Ministry introduced in the Rajya Sabhamajor amendments to the Wildlife Protection Act, 1972 that seek heavier penalties to check wildlife-related crimes and aim to make Indian laws consistent with the Convention on International Trade in Endangered Species of wild flora and fauna (CITES).
Salient features of the Wildlife Protection Amendment Bill 2013:
· · · · ·
The amended legislation aims to ban the use of animal traps except under certain conditions. It also looks forward to engage gram sabhas and gram panchayats in management of protected areas, and to grant
hunting rights to hunter-gatherer Scheduled Tribes of the Andaman and Nicobar Islands. Hunting in national parks and sanctuaries or the alteration of their boundaries should be punished with 5 to 7 years in jail and fine of Rs 5 to 25 lakh as compared to the previous 3 to 7 years in jail and Rs 10,000 fine. The punishment would be 7 years in prison and Rs 30 lakh fine for repeat offenders compared to the previous 3 to 7 years of imprisonment and Rs 25,000 fine now. The amendments are strict against crimes related to sale, purchase and transfer of animals, their parts or products listed in various schedules.
PV Sindhu creates history by winning Bronze in World Badminton Championship
August 15th, 2013
PV Sindhu created history as she won bronze medal in the World Badminton Championships Although she lost in the semifinal to Ratchanok Intanon of Thailand, she became the first Indian to win a women’s singles medal in the World Badminton Championship. PV Sindhu holds both junior and senior national titles after thelegendary Prakash Padukone In past, Prakash Padukone had won the men’s singles bronze in 1983 at Copenhagen. Jwala Gutta and Ashwini Ponnappa won another bronze in women’s doubles in the 2011 edition.
India’s forex reserves dips by $2.99 billion
August 15th, 2013
As per the Reserve Bank of India, the country’s foreign exchange reserves lowered by an immense USD 2.995 billion to USD 277.167 billion. Foreign currency assets which are a major component of the forex reserves, dropped USD 2.155 billion to USD 249.895 billion in the first weekend of August 2013. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as euro, pound and yen, held in the reserves. The gold reserves dropped USD 808.5 million at USD 20.747 billion. TheSpecial Drawing Rights (SDRs) were down by USD 21.4 million to USD 4.352 billion, while the country’s reserve position with the IMF also fell by USD 10.7 million to USD 2.171 billion.
Maharashtra is first State to pay salary through Aadhaar seeded bank accounts
August 15th, 2013
Maharashtra became the first state in the country to disburse salary of its staff through their Aadhaar linked bank accounts. The employees of the state government’s Information Technology (IT) department got their July 2013 salaries through their Aadhaar linked bank accounts. Maharashtra State Government has decided to use the Aadhaar Payment Bridge (APB) system for all Mantralaya employees. This initiative would help in speedy transfer of salaries and also ensure the transfer to the actual beneficiary at a later stage. UID for faster Salary: Maharashtra State Government initiated a program “UID for faster Salary” for its employees in the state. The aim is to process salaries only for those employees, who are enrolled under Aadhaar program.
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Current Affairs – August 2013 from GKToday
Bt cotton replaces desi cotton in flag making
August 15th, 2013
Bt cotton, a technology of an American seed company replaced ‘desi’ cotton Jayadhar, a popular variety of cotton grown in Karnataka that was also earlier used in making flags. Flag making units at Bengeri in Hubli city and Garaga in Dharwad district, which caters to the nationwide demand for the tricolor are now using, wholly or partly, the khadi derived from Bt cotton. At some naufacturing units at Bengeri where flag making started in 2008, the tricolour is manufactured using khadi made out of a combination of Jayadhar and BT cotton.
Why flag manufacturers are choosing Bt cotton over indigenous cotton varieties?
qualities.
As per manufacturers, quality of cotton is determined by length, strength and appearance and BT cotton provides all these
INS Sindhurakshak (submarine of Indian Navy) sinks
August 15th, 2013
In a major blow to the Indian Navy, a recently refurbished submarine sank following an explosion and fire leaving 18 crew of its on board dead. INS Sindhurakshak sank into the shallow waters of its berth at the naval dockyard in Mumbai. INS Sindhurakshak: INS Sindhurakshak was a Russian-made Kilo-class Type 636 diesel-electric submarine of the Indian Navy. It was commissioned on 24 December 1997, It was the ninth of the ten Kilo-class submarines in the Indian Navy. The submarine had recently undergone modernization under a contract signed with Russia. After the overhaul, it had returned toIndia from Russia between May and June 2013.
Hassan Rouhani is the new President of Iran
August 15th, 2013
Hassan Rouhani sworn as the new President of Iran in the ceremony held at the Iranian Parliament in Tehran. Rouhani, who will have 4-year tenure as President, is the 7th (different) President of Iran after the Islamic Revolution of 1979. He secured a little over 50% votes to win the election and succeeded Mahmoud Ahmadinejad.
Some facts about the election of the President in Iran:
The President of Iran is elected as per rules envisaged in the country’s Constitution. As per the Constitution of Iran, the President is elected by an absolute majority of votes polled by the voters. The President must be elected from among religious and political personalities. The President is elected for 4-year term by the direct vote of the people. His re-election for a successive term is allowed only once.
Usain Bolt regains 100-meter gold at worlds
August 18th, 2013
Six-time Olympic gold medalist, Usain Bolt, regained World 100 meter title as he won the race in 9.77 seconds at the IAAF World Athletics Championships held in Moscow. Bolt finished ahead of Justin Gatlin of the U.S. (9.85) and Jamaican Nesta Carter (9.95). Bolt had previously won the event at the World championships in Berlin in 2009 where he set the current world record of 9.58 seconds.
Other Winners at IAAF World Athletics Championship 2013:
o o
Olympic decathlon champion Ashton Eaton of the U.S. won gold in the event. Olympic winner Brittney Reese of the U.S. won the women’s long jump for the third consecutive time with a leap of 7.01 meters.
o
Tirunesh Dibaba of Ethiopia won the women’s 10,000 meter title for the third time. Sandra Perkovic of Croatia won the women’s discus. Aleksandr Ivanov of Russia won the men’s 20-kilometer walk.
o o
Noted naturalist Zafar Futehally passes away
August 18th, 2013
India’s one of the best known naturalists and ornithologists Zafar Futehally (93) passed away. Zafar Futehally: · Born in Andheri, Mumbai in 1920.
He led the conservation movement in India serving as a link between conservationists and corporates. He also founded Newsletter for Birdwatchers a periodical that helped birdwatchers around India to communicate their observations. It was a vital publication and served to document observations at a time when there was no digital documentation and there were few scientific studies on wildlife in the country.
Mr. Futehally was associated for 60 years with the Bombay Natural History Society of which he was honorary secretary for 16 years till the 1970s.
Reservation in prelims not legally valid: Patna High Court
August 18th, 2013
As per an order passed by the Patna High Court which was adjudicating a petition that challenged the preliminary tests results declared by theBihar Public Service Commission (BPSC) for the 53rd to 55th Combined Competitive Examinations (CCE) to recruit gazetted officers across the state, no reservation was applicable to preliminary tests as they were just screening examinations.
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The petition had challenged the result on the basis that the BPSC had implemented the reservation policy in declaring the preliminary result whereas quota was applicable only in the mains examination and not in the elimination round. The petitioner referred to the Bihar Reservation for Post and Vacancy Act, which specified that reservation could be granted only when the examination led to the final selection of the candidate.
Serena Williams wins women’s Rogers Cup
August 18th, 2013
US’ tennis star Serena Williams defeated Romania’s Sorana Cirstea in the final of the women’s Rogers Cupheld in Toronto to bag her 54th WTA singles title. · · Serena Jameka Williams is an American professional tennis player and is currently ranked No. 1 in women’s singles tennis. On six separate occasions, the WTA (Women’s Tennis Association) has ranked her World No. 1 in singles .
INS Arihant submarine’s reactor achieves criticality
August 18th, 2013
The reactor of India’s first indigenous nuclear powered submarine, Arihant achieved criticality i.e. the self sustaining nuclear reaction which is the first step towards the stable production of power. About INS Arihant: · India’s first indigenously built nuclear-powered ballistic missile submarine.
It has been jointly developed by the Department of Atomic Energy (DAE), the Defence Research and Development Organisation (DRDO) and the Navy. · It is about 111 metres long, 11 metres broad and about 15 metres tall and is designed to be propelled by a Pressurized Water Reactor (PWR) that uses enriched uranium as fuel, and light water as both coolant and moderator. The PWR will generate about 80 MWt. · The submarine will eventually be fitted with K-15 underwater fired missiles, which can hit targets 700 km away. The K-15 missiles are capable of carrying nuclear warheads. Note: Only five countries in the world possess nuclear powered submarines- the U.S., Russia, the U.K., France and China. Apart from India, Brazil is also working on naval nuclear propulsion.
Environment Ministry’s panel finds illegal sand mining in Gautam Buddh Nagar
August 18th, 2013
The environment ministry team found facts of the widespread illegal sand mining in Gautam Buddh Nagar district of Uttar Pradesh. The team was set up by the ministry in the backdrop of the suspension of the district’s sub divisional magistrate Durga Shakti Nagpal who took on the illegal mining in the area.
Steps suggested by the panel to prevent illegal sand mining:
· · depth, location of mining leases.
The state must adopt and implement the rules set out for riverbed mining which lay down specification of mining
Those holding mining leases are required to have their mining plans approved by the state’s mining and geology department.
A cumulative impact assessment must be undertaken to assess pollution, adequacy of infrastructure. All the mining activity must have environmental clearance. It has been recommended that cumulative impact assessment of riverbed mining be undertaken before giving clearance, as well as stepping up monitoring.
Scientist Vinod Prakash Sharma honoured with Gujar Mal Modi award
August 18th, 2013
Scientist Vinod Prakash Sharma has been honoured with the Gujar Mal Modi Award for Innovative Science and Technology 2013 for his achievements in malaria research, control and prevention, including other vector borne diseases. He is leading the Safe Water Campaign of the NASI (The National Academy of Sciences, India). His work on popularization of science, creating awareness and science education programmes of NASI appreciated in the remote areas as well. are widely
Famous French tennis player Marion Bartoli retires
August 18th, 2013
Marion Bartoli declared her retirement thereby ending her tennis career just six weeks after winning Wimbledon. Bartoli is currently ranked 7th in the world.
Marion Bartoli:
Marion Bartoli is a former French no. 1 professional tennis player. She won the 2013 Wimbledon Championships singles title after previously being runner-up in 2007, and was a semi-finalist at the 2011 French Open. She also won seven Women’s Tennis Association singles titles and three doubles titles. Bartoli is currently ranked 7th in the world.
Food Bill: some States gain and some lose in allocation of food grain
August 19th, 2013
Although the National Food Security Bill is still pending in the Parliament, the Centre has intimated to certain States that their food grain allocation would decline in spite of the mandatory 75% rural and 50% urban populations being covered under the proposed new law.
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Current Affairs – August 2013 from GKToday
As per the new privilege, 17 States and UTs will gain and 18 will stand to lose slightly. Amongst the 18 States which would lose food grain allocation are Andhra Pradesh, Tamil Nadu, Kerala, Delhi,Uttarakhand and some north-eastern States. The government intends to protect the current allocation for each State but the major concern is over the cost at which the Food Ministry will make additional grains available. The Food Subsidy Bill is estimated at Rs. 1.24 lakh crore but the Centre is not willing to give States the additional food grains at the same subsidized rates. The Food Ministry is moving a proposal in Cabinet for provision of additional grains at the minimum support price given to farmers for wheat and paddy. The Central issue price under the Food Security Bill for rice will be Rs. 3 per kg, for wheat Rs 2 per kg and for coarse cereals Re. 1 per kg.
Shree Ganeshan Chundan wins Nehru Trophy Boat Race 2013
August 19th, 2013
Shree Ganeshan Chundan, the snake boat of the St Francis Boat Club, Harippad won the 61st edition of the Nehru Trophy Boat Race 2013 held in Punnamada Lake in Alleppey (Alappuzha), SouthKerala. This is the second consecutive win for Shree Ganeshan that was captained by Arunkumar, Karthikapally. Ganeshan was honoured with the silver trophy that was donated by Jawaharlal Nehru in 1952 with his signature embossed on it.
About the Nehru Trophy Boat Race:
The practice of the boat race started in 1952 after the first Prime Minister of India Jawaharlal Nehru visited the area in Kerela. The villagers held a boat race to honour his visit in the area. The Nehru Trophy Boat Race is conducted every year on the second Saturday of August. Nehru donated a silver trophy to the winners of the race and since then the competition is held by his name. The main attraction of the contest remains the snake boats, which are locally known as Chundan Vallam, which means Beaked Boat. Snake boats have been named following its structure that is long and narrow in shape and 36 to 42 meter in its length.
Training launch of Prithvi-II missile successful
August 19th, 2013
India’s Strategic Forces Command (SFC) test fired its nuclear capable surface-to-surface Prithvi-II missile for its full strike range of 350 km from the Integrated Test Range at Chandipur, off Odisha coast. The launch was part of regular training exercise.
About Prithvi-II
First missile to be developed by DRDO under the Integrated Guided Missile Development Program (IGMDP) · · · · Surface-to-surface Single-stage liquid fuelled Payload capacity- 500 to 1000 kg Range: 350km Inducted into the SFC in 2003
Variants: Prithvi I for Army, Prithvi II for Air Force and; Dhanush for the Navy ·
Government to set up an independent Coal Regulatory Authority
August 19th, 2013
The Government has decided to set up an independent Coal Regulatory Authority.
Proposed role of the Coal Regulatory Authority:
· · · · · ·
To specify by regulation methods of testing for declaration of grades or quality of coal. To monitor and enforce closure of mines as per approved mine project plan towards closure of mine. To ensure obedience of approved mining plans. To specify the principles and methodology for determination of price of raw coal and washed coal or any other by product generated during the process of washing. To call for information, record or other documents from the entities and publish statistics and other data in relation to
the coal industry. Specifying the standards of performance and norms of operational efficiency except in the area related to mines safety.
To adjudicate upon disputes between the parties and will also advise the Central Government in formulation of polices in coal sector, including allotment or earmarking of coal blocks for any purpose and promotion of competition, efficiency, economy and investment in coal industry.
No plan to increase research stations in Arctic and Antarctica
August 19th, 2013
Union Ministry of Science & Technology and Earth Sciences has clarified that India does not intend to increase research stations in Arctic and Antarctica.
What is the status of India’s scientific presence in Arctic and Antarctica?
Status of India’s Scientific presence in Antarctica:
India presently has two research stations at Antarctica namely ‘Maitri’ and ‘Bharati’. The new station ‘Bharati’ in Larsemann Hills has just been constructed and established in March, 2013. Maitri station has been in operation since 1989. At both the stations research and investigations are undertaken to understand the Polar processes and phenomenon. Observations and studies are carried out in atmospheric, biological, geological, ecological sciences etc.
Status of India’s Scientific presence in Arctic:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Indian station in Arctic is known as ‘Himadri’ is located at Ny Alesund, Spitsbergen Island, Norway and serves as a hub of Indian scientific investigations since 2008.
Committee to be set up to suggest establishment of Universities for Research & Innovation
August 19th, 2013
The Government has decided to set up a Committee for suggesting changes to the provisions of the Universities for Research and Innovation Bill, 2012 and suggest a roadmap for future.
What does the ‘Universities for Research & Innovation Bill, 2012’ provides for?
The Bill provides for establishment and incorporation of Universities for Research and Innovation which would work towards makingIndia a global knowledge hub. They would set benchmarks for excellence for other institutions of higher learning through path breaking works and by promoting teaching, learning and research.
What is the task before the Committee?
The Committee headed by Prof. Ramakrishna Ramaswamy, Vice Chancellor, University of Hyderabad, has been set up for recommending changes to the provisions of the Universities for Research and Innovation Bill, 2012 and to suggest a roadmap for future.
Role of the Committee :
· · ·
To examine the report of the Parliamentary Standing Committee on Human Resource Development on the Universities for Research & Innovation Bill, 2012. It will also examine the modalities for establishment of Universities for Research and Innovation and suggest a roadmap for establishment of such universities by reputed promoters. The Committee will also recommend changes in the provisions of the Bill, 2012 in the context of the observations/ comments of the PSC on HRD.
Govt. takes measures to increase Forex inflows and check deficit
August 19th, 2013
In order to check the increasing Current Account Deficit (CAD) and curtail the rupee downslide due to an unstable foreign exchange market, the government has announced a set of measures to increase the Forex inflows by an additional $11 billion during the current fiscal by easing overseas borrowing norms. The government has set the target to contain the CAD at $70 billion, or 3.7 % of the GDP in this fiscal.
Upcoming measures by Govt. to increase Forex inflows and check deficit:
· ·
To hike the customs duties on gold, silver and other non essential goods to contain the import bill. The interest on foreign currency non-resident (NRI/NRE) accounts will be liberalized to attract more deposits. finance companies Indian Railway Finance Corporation (IRFC), Power Finance Corporation (PFC)
PSU
and IndiaInfrastructure Finance Company Limited (IIFCL) will mop up $ 4 billion by issuing quasi-sovereign bonds for infrastructure sector development.
External Commercial Borrowings (ECBs) will also being eased to enable the oil PSUs to acquire dollars for financing their import requirements. Sovereign Wealth Funds (SWFs) would be allowed to invest up to 30% in tax-free bonds to be floated by PSU financial institutions and the RBI would also issue circulars permitting MNC subsidiaries in India to raise funds from their parent companies.
DBT scheme for LPG to be extended to 35 more districts
August 19th, 2013
The Petroleum and Natural Gas Ministry has decided to extend LPG Direct Benefit Transfer (DBT) scheme to 35 more districts from September 1, 2013 after observing a good response from the districts already in the scheme thus taking the total coverage to 55 districts. The districts which will be covered include 12 in Kerala, 7 in Andhra Pradesh, 7 in Himachal Pradesh, 5 in Punjab, 2 in Madhya Pradesh and one each in Maharashtra and Goa The decision to include 35 more districts would add about 1.4 crore consumers to the 2.12 crore already being covered by the scheme where consumers get an advance of Rs. 435 in their bank accounts.
What is the purpose of the DBT scheme?
The government has launched DBT scheme with the aim of restricting leakages, preventing black marketing by sending subsidy directly into the beneficiary’s bank account.
How does the DBT scheme for LPG benefit the consumer?
Consumers get their subsidy directly in their bank accounts. All Aadhaar linked domestic LPG consumers get an advance of Rs. 435 an LPG cylinder in their bank account as soon as they book the first subsidised unit before delivery. When the first subsidised cylinder is delivered to such consumers, the next subsidy will be credited to their bank account which can then be used for the purchase of the next subsidised cylinder at the market rate.
What is the current status of DBT?
Since its launch on June 1, 2013 about four million direct cash transfers have taken place to consumers’ bank accounts. So far Rs. 150.6 crore has been transferred to consumers in 20 districts of phase I. Related Posts:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Direct Benefits Transfer subsidy scheme to extended to 78 more districts in July 2013. Committee for Direct Cash Transfers Countrywide coverage of Direct Benefit Transfer Scheme – “Aapka Paisa, Aapke Haath”
SEBI to go in for a major revamp
August 20th, 2013
The market regulator Securities and Exchange Board of India (SEBI)has decided to go in for a major refurbishment of its role, vision and organisational set up with a stronger workforce and greater IT resources in order to improve focus on mobilizing household savings into capital markets and to strengthen its supervisory functions. It has been asked to work for a re-organisation of its functional departments, increase its manpower, improve its IT strategy for organisational efficiency and strengthen its training and performance management system. SEBI has decided to declare illegal mobilisation of funds as a “fraudulent and unfair trade” practice in order to control the rising incidences of public getting defrauded by money pooling schemes. It has clarified that the existing list of activities coming under fraudulent and unfair trade practices can be further expanded whenever the need arises. All activities of money mobilization through unauthorized Collective Investment Schemes (CIS) would face stronger penalties prescribed under the revised SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations.
Noted Kamaicha player Sakar Khan passed away
August 20th, 2013
Renowned Rajasthani folk musician Sakar Khanknown for the melodious bow and string instrument Kamaicha passed away in Jaisalmer,Rajasthan.
Sakar Khan:
He belonged to the traditional Manganiyar folk musician community of Rajasthan and learned to play the Kamaicha from his father Chunar Khan who is known as a legend among the folk musicians of the state. Sakar Khan had performed with the well known American violinist Yehudi Menuhin and George Harrison of The Beatles and also performed at major international festivals in the US, France, Japan and USSR.
He
was
honoured
with
the Padma
Shri in 2012,
the Tulsi
Samman
by
the Madhya
Pradesh government in 1990 and the Sangeet Natak Akademi Award in 1991.
What is Kamaicha?
The Kamaicha,also known as the Kamancha and Kamancheh is one of the oldest bowed instruments of the world and is found across the globe with several regional variations. In Kashmir it is known as saaz-i-kashmir and is often compared to the middle- eastern instrumentRaba’ab. It has a goat skin spherical sound box with three or four strings (made either with silk or metal) and 14 sympathetic metal strings.
Political parties agree on nullifying SC order against convicted lawmakers
August 20th, 2013
Parties across political lines agreed to amend the Representation of the People Act to overturn a Supreme Court verdict which barred people in police or judicial custody from contesting elections. The government also received support for its proposal to amend the Act to repeal the impact of the verdict that ordered the immediate disqualification of MPs and MLAs on conviction in a criminal case without being given 3 months time for appeal.
What is the controversy all about?
In July, 2013 Upholding a 2004 judgement of Patna High court, the Supreme Court held that persons in lawful custody – whether convicted in a criminal case or otherwise – cannot contest polls. However, the ruling does not apply to those on bail.
What is the matter?
The Chief Election Commissioner and others had filed a appeals against a Patna High Court judgement that in 2004 had held that when a person in custody is disqualified from voting he or she must be disqualified from contesting in elections too. Calling the High Court’s decision right the apex court held that a person who has no right to vote by virtue of the provisions of Section 62 (5) of the Representation of the People Act 1951 is not an elector and is therefore not qualified to contest the election to the House of the People or the Legislative Assembly of a State. Besides, the court said “A right to vote is a statutory right, the Law gives it, the Law takes it away. Persons convicted of crime are kept away from elections to the Legislature, whether to State Legislature or Parliament and all other public elections. The Law temporarily takes away the power of such persons to participate in elections. To vote is a statutory right. It is a privilege to vote, which privilege may be taken away. In that case, the elector would not be qualified, even if his name is on the electoral rolls.
Duty on Gold, Silver raised to 10%
August 20th, 2013
In order to curb the increasing Current Account Deficit (CAD) the Centre hiked the customs duty on gold, platinum and silver to 10%. This initiative will bring in additional revenue of Rs. 4,830 crore. As per the notifications by the Central Board of Excise and Customs the import duty on gold and platinum is increased from 8% to 10% and on silver it was raised by 4 % to 10%. This is the third time that the government has hiked the customs duty on gold this year in order to curb its imports as dollar outflows on this count are seen as mainly responsible for rapidly increasing
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
CAD which touched a record high of 4.8 % in 2012-13. The government is aiming to restrain CAD at 3.7 % of the GDP this fiscal.
Sharp rise in Internet related bank frauds: Banking Ombudsman
August 20th, 2013
There was a sharp increase in complaints relating to Internet related bank frauds. The total number of complaints increased marginally from3,486 in 2011-12 to 3,494 in 2012-13. The complaints related tocredit card and Internet based transactions increased from 732 to 1,279 as per Banking Ombudsman for Karnataka M. Palanisamy. Reserve Bank of India (RBI) has adopted new guidelines that require banks to ensure that customers authenticate through an alternative network typically via a text message which make Card based transactions more secure. The online transactions through net banking channels or using credit cards remain a concern for not only the banks but for the regulator also.
How did fraudulent transactions happen?
The scamsters who were mainly based overseas skimmed the details on the debit or credit cards of ordinary people including drivers, housewives and mechanics. The uncertified websites such as lyca.uk, sports.com,entropay.uk and denguemail.ru were among those that pilfered their victims by drawing money in foreign currency. There were a few cases of Indians as in one of the case a gang in Bangalore masked IP addressesto make it appear to the user that the website was based overseas. In most cases the banks have re-credited the disputed amounts to the victims. The possible explanation for the banks’ readiness to settle disputes could be the burden of proof on them to establish that they had not been responsible for the user id or password being compromised.
Ibrahim Keita wins Mali presidential election
August 20th, 2013
Mali’s former Prime Minister Ibrahim Boubacar Keita has won the presidential election runoff. He now faces a tough task of rebuilding a country reeling under more than a year of turmoil including a military coup and war. Mali’s first election since 2007 was seen as vital for unlocking more than $4 billion in aid promised byinternational donors who halted contributions in the wake of last year’s coup that ignited an Islamist insurgency and a French military offensive.
NBFCs must be under RBI watch: Subbarao
August 20th, 2013
As per Reserve Bank of India (RBI) Governor D. Subbarao, bankingas well as Non-Banking Financial Companies (NBFCs) must be under a unified regulation of the central bank to prevent 2008 like crisis. He said that there were strong inter-linkages between Banks and Non-Banking Financial Companies (NBFCs) and suggested that a unified regulation by the same regulator was essential for financial stability.
What is the need to include NBFCs under unified regulation?
The government has plans to take away the regulation of NBFCs from the central bank and put it under a unified financial authority. As per RBI, such a move would prove detrimental to financial stability. It said that for the Monetary Policy to be effective the credit creation (that is by banks and credit institutions such as NBFCs) should be regulated by the central bank. it pointed that the major reason behind the 2008 crisis wascredit intermediation activities conducted by non-banks which were mainly outside the regulatory purview so post crisis the trend has been to entrust more, not less, regulation by central banks.
List of Awardees for Khel Ratna and Arjuna Award announced
August 20th, 2013
The selection committee for Khel Ratna and Arjuna Award has released the list of awardees for both the honors for year 2013. As per the release, double trap shooter Ronjan Sodhi, who is the first Indian to win 2 back-to-back World Cup gold medals at the 2010 and 2011 editions in Turkey and UAE respectively, has been recommended for the prestigious Rajiv Gandhi Khel Ratna award. Sodhi had already been conferred with the Arjuna award in 2009. Gagan Narang had been presented the award in 2011 followed by Vijay Kumar in 2012. Vijay, a London Olympics silver medalist, was the joint winner along with wrestler Yogeshwar Dutt who won a bronze at the same event.
Who are on the list of Arjuna Award 2013?
o Virat Kohli (Cricket), Chekrovolu Swuro (Archery) Renjith Maheshwary (Athletics) P V Sindhu (Badminton) Kavita Chahal(Boxing) Rupesh Shah (Snooker) Gaganjeet Bhullar (Golf)
A total of 14 personalities have been recommended for Arjuna Award 2013 which are as follows: o o o o Saba Anjum (Hockey) Rajkumari Rathore (Shooting) Joshna Chinappa(Squash) Mouma Das (Table Tennis) Neha Rathi (Wrestling) Dharmendra Dalal (Wrestling) Amit Kumar Saroha (Athletics).
o o o o
o
o
o
o o
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
China’s UCWeb: Most extensively used mobile browser in India
August 20th, 2013
As per the latest data from StatCounter,Chinese internet service companies are looking forward to crack the Indian market as they have achieved another milestone with Chinese firm UCWeb’s mobile browser becoming the most widely used browser in India. StatCounter, a web traffic analysis tool, now places UC Browser (a UCWeb mobile service)at having a 30% market share for the month of July 2013 narrowly beating previous market leader Opera. UCWeb’s increased market share is also due to the company extending its global partnership with Samsung and LG to the Indian market. UCWeb is also planning to soon tie-up with local Indian handset.
India’s Gold consumption reaches highest in last decade
August 20th, 2013
India’s consumption of gold rose to 310 tonnes in the 2nd quarter and is the highest in the last 10 years despite the fact that government aims to restrict imports to control the Current Account Deficit (CAD). India depends on gold imports to meet its entire demand which is expected to be between 900 and 1000 tonnes in 2013 calendar year. Most of the demand was met by stocks that had been built up to healthy levels after the April price drop. Gold consumption was around 181.1 tonnes in the same quarter in 2012. As per the World Gold Council (WGC), the consumer demand was up 71 % as compared to last year. The fall in the gold price last April resulted in an increase in jewellery demand by more than 50 % than what it was a year ago. Now, the government has raised import duty on gold for a third time in eight months from 8% to 10 % to control the CAD. The long term objective is to increase the liquidity of domestic gold holdings through institutional, official channels, effectively monetising gold to support economic growth.
India wins 83 medals at World Police & Fire Games-Belfast 2013
August 20th, 2013
The 39 member Indian Police team won a record breaking 83 medals when they participated inthe World Police & Fire Games held atBelfast, Northern Ireland. As a result of this the record of 2005 World Police & Fire Games held in Quebec (Canada) where India had won 82 medals including 39 Gold was broken. The medals include 48 Gold, 22 Silver and 13 Bronze Medals.
Key achievements of Indian Team at World Police & Fire Games-Belfast 2013 :
The performance of the Indian team was outstanding in Athletics where a 14 member team comprising 7 males and 7 female police athletes won 22 Gold, 9 Silver and 6 Bronze medals. The male athletes won 15 medals including 7 Gold and the female athletes did exceptionally well winning 22 medals including 15 Gold.
Rajya Sabha passes Registration of Births and Deaths (Amendment) Bill, 2012
August 20th, 2013
Rajya Sabha passed Registration of Births and Deaths (Amendment) Bill, 2012.
According to the Bill, marriages held
in India irrespective of the religion of the persons getting married will have to be necessarily registered. Through this bill the Union government is providing a platform to the states which are free to frame their own rules in agreement with their requirements. The government does not favour compulsory registration in cases of live-in relations. The Bill is introduced to protect the women from unnecessary harassment in matrimonial and maintenance cases. It also seeks to provide evidentiary value in the matters of custody of children, right of children born from the wedlock of the two persons whose marriage is registered and the age of the parties to the marriage.
Rafael Nadal wins men’s singles title in Rogers Cup 2013
August 20th, 2013
Rafael Nadal of Spain defeated Canada’sMilos Raonic in the final of the men’s Rogers Cup 2013 in Montreal, Canada. This is the Nadal’s third Rogers Cup title. He also won Rogers cup in 2005 and 2008. This triumph brought Rafael Nadal his 25th ATP World Tour Masters title. As per the latest ATP world rankings Rafael Nadal moves to third rank and Milos Raonic rose to tenth rank and also became the first Canadian to be ranked in the top 10 on the ATP Tour. The top position is held by Serbian player Novak Djokovic.
About Canadian Open/ Canada Masters/ Rogers Cup
The Canadian Open (also known as the Canada Masters), currently sponsored as the Rogers Cup presented by National Bank. Held in Canada.
Annual tennis tournament · · · Men’s competition is a Masters 1000 event on the Association of Tennis Professionals (ATP) tour. The women’s competition is a Premier 5 tournament on the Women’s Tennis Association (WTA) tour. Played on hard courts.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Extinction of large animals “Megafauna” damaged nutrient distribution system
August 20th, 2013
As per a latest studies, large animals acted as carriers of key nutrients to plants and animals over thousands of years. According to the findings, large animals which scientists call ‘Megafauna’ worked as key nutrient distributing arteries which spread vital nutrient substances like phosphorous which are essential for the growth of plants. The studies show that the extinction of the megafauna 12,000 years back wiped out one of the main means of transporting nutrients far from the rivers creating a nutrient deficiency which continues to affect plant and animal life in parts of the region today.
What is ‘Megafauna’?
As per researchers, South America was crowded with large animals which are named as ‘megafauna‘ a term for animals with a body mass of more than 44kg (the size of a large dog).
How did Megafauna play role in distributing nutrients?
Due to the large size of the megafauna, they eat and move more than small animals, they have a particularly important role in transporting nutrients into areas where the soil is infertile otherwise. For example: In South America, most nutrients originate in the Andes mountain range and are washed into the forests through the river system. On dry land these nutrients are in short supply unless they are transported through animal dung and bodies. While small animals distribute nutrients over small distances large animals have a much greater range. These megafauna which ate in high quantity and absorbing more phosphorous acted as a key reserve of phosphorous which they transported dry areas through their excretory products or through their bodies after death, thus, playing a significant role in nutrient distribution.
Rajya Sabha passed National Waterway Bill for Assam’s Barak River
August 20th, 2013
The National Waterway (Lakhipur-Bhanga Stretch of the Barak River) Bill, 2013 has been passed by the Rajya Sabha. The Bill aims to develop the 121 km Barak river stretch in Assam as country’s sixth National Waterway that would particularly benefit Assam, Nagaland,Mizoram, Manipur, Tripura and Arunachal Pradesh by facilitating cargo movement there. Cost and Benefits: · The project will need an investment of Rs 123 crore and an expenditure of Rs 3.6 crore per annum would be incurred for maintenance of navigation aids, terminals and dredging.
The projects would be implemented in two phases in total span of 5 years by Inland Waterways Authority of India (IWAI) set up under IWAI Act, 1985.The first phase of the project would be completed by 2016-17 followed by the second phase which is likely to be completed by 2018-19. · The Bill provides for unified development of waterways for shipping, navigation and transportation of cargo to the northeastern region.
The waterway has the potential to transport 12.45 lakh tonne of cargo like tea, coffee, iron, steel and coal per annum after its development by 2018-19. It will not only expand infrastructurethere but would benefit lakhs of people. · It will save a lot of time and resources wasted in transporting over-sized cargo to the North East.
Indian Parliament rejects Pakistan resolution against Indian Army
August 20th, 2013
The Indo-Pak political relations hit a new low due to recent border incidents. In a bitter exchange between the Parliaments of the two countries, both Houses of Indian Parliament together passed a stern-worded resolution rejecting and condemning the baseless and unsupported allegations made by Pakistan in its resolution against the Indian Army and the people of India. What is the issue, why Indian Parliament rejected Pakistan’ resolution against Indian Army? Recently, tension between the two nations escalated after the incident of unprovoked firing from the side of Pakistan occupied Kashmir (PoK)along the Line of Control (LoC) with India that killed 5 Indian soldiers. The incidence further strained the relations between the two nations with parliament of both sides alleging each other of unprovoked aggression. Pakistan passed a resolution in its parliament accusing Indian troops of “unprovoked aggression by Indian military forces“. Pakistan has rejected the involvement of its army in the LoC incident. The resolution by Pakistan also deplored the “unjustified public vilification of Pakistan in the Indian media”. In retaliation to this, Indian parliament passed a counter-resolution against Pakistan which rejected the resolution passed by Pakistan’s National Assembly as making “absolutely baseless and unfounded allegations against the Indian Army and the people of India”. It counter-alleged Pakistan Army of the unprovoked attack on an Indian Army patrol on the Indian side of the Line of Control. India has reiterated that the “entire state of Jammu and Kashmir including the territory forcibly and illegally occupied by Pakistan is an integral part of India and will always remain so”. The resolution also called upon Pakistan to abide by the 2003 ceasefire in letter and in spirit.
IAAF World Championships: Bolt wins 200 meters, Kiprotich bags marathon gold
August 20th, 2013
Jamaican sprinter Usain
Bolt won
his
second
gold
medal
of
the World
Athletic
Championships
being
held
in
Moscow, Russia,cruising through the finish line to win the men’s 200 meters. The 100-meter champion won the race in 19.66
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
seconds for his third straight world title in the 200. Warren Weir of Jamaica was second in 19.79 and Curtis Mitchell of the United States took bronze in 20.04. In Marathon, Olympic champion Stephen Kiprotich of Uganda beat two Ethiopian rivals in the final two kilometres to win the world championship marathon.
AERB nod to run KKNPP first reactor at 50 % capacity
August 20th, 2013
The Atomic Energy Regulatory Board (AERB) has granted permission to the Kudankulam Nuclear Power Project (KKNPP) to run its first reactor at 50 % (500 MW) capacity and synchronization of its generator.
What is the significance of approval to Kudankulam Nuclear Power Project (KKNPP) by Atomic Energy Regulatory Board (AERB)?
The approval means functioning of every component of the 1,000 MW-reactor supplied by Russia. The KKNPP’ first reactor is likely to generate 400 MW before August 2013 end and the reactor is expected to attain its full capacity of 1,000 MW by November 2013 end after getting mandatory clearances from the AERB.
Committee to examine Pentavalent vaccine’s safety
August 20th, 2013
In the wake of 21 infants dying after receiving Pentavalent vaccine in the country, the government will conduct a study to ascertain its safety. The government will soon set up a national-level Adverse Events Following Immunisation (AEFI) Committee that will launch a study on the safety and effectiveness of Pentavalent vaccine and will go into background of the deaths of 21 infants who received this vaccine in various states of India. The proposed study will be conducted with the help of some other agencies and the WHO will also be involved in it.
What is a Pentavalent Vaccine?
The Pentavalent vaccine protects children against five deadly childhooddiseases — DPT (Diphtheria, Pertussis and Tetanus), Hepatitis B and Haemophilus influenza type B (HiB).
Union Cabinet gives nod to establish Tax Administration Reform Commission
August 20th, 2013
The Union Cabinet accepted the proposal for setting up of the Tax Administration Reform Commission (TARC) to remove uncertainty and establish a stable and non-adversarial tax administration.
What is the task before Tax Administration Reform Commission (TARC)?
The Commission will work on following areas of Tax reforms:
To review the application of tax policies and tax laws in India in the context of global best practices and recommend measures to strengthen the capacity of the tax system in India that would reflect best global practices. · · To help in removing ambiguity in application of tax policy and tax laws thereby establishing a stable tax management and a non-adversarial tax administration. To provide an efficient tax administrative system that would improve the tax base as well as tax payer base.
UGC asks universities to give nod to AICTE-approved technical colleges
August 20th, 2013
The University Grants Commission (UGC) has written to the universities, asking them to consider granting approval to the technical institutions and courses, which have been approved by the AICTE, for the academic session 2013-14. The step has been taken as the Ministry of Human Resource Development could not move an amendment to theAll India Council for Technical Education (AICTE) Act, 1952 to undo the Supreme Court judgment that said the role of AICTE was advisory and “it had no business to lay down standards for the MBA and MCA courses.” The amendments to the AICTE Act could not be moved owing to some queries raised by the Cabinet Secretariat. Now an ordinance may come after the present Parliament session. UGC delegated universities the power to grant approvals and affiliations to technical institutions and courses, following the orders of the apex court.
Government to tweak FDI policy for pharma to protect domestic units
August 20th, 2013
A high-level meeting chaired by Prime Minister Manmohan Singh has asked the Commerce and Industry Ministry to start interMinisterial consultations on the issue of changing the norms of FDI policy for pharma which, in its current form, is not serving its objectives and that it needs to be fine-tuned to ensure that cheap drugs are made available to the people at large.
Why there is a need being felt to bring changes in FDI policy for pharma sector?
As it is believed, the policy in its existing for is not serving the purpose it was designed for. For instance, if 100% FDI limit in the pharma sector is upheld, there are apprehensions, it will impact the domestic generic drug industry and it could lead to India’s dependence on imports for life-saving drugs. Further, there are concerns that MNCs have acquired brownfield projects of domestic companies but have spent very little on R&D in India. Over 96% of FDI between April 2012 and April 2013 has come into Brownfield projects. It has not led to significant addition to gross assets or jobs or increase in R&D expenditure. A parliamentary panel has recommended to impose a blanket ban on FDI in brownfield projects. Besides, there are concerns over the ability of Indian firms to take advantage of the situation of blockbuster drugs going off patent through 2015 could be impaired. As many as 67% of drugs worth $80 billion is expected to go off the patent regime between 2011 and 2013.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Currently, around 28% of the market is controlled by MNCs. If another top three Indian companies are acquired by MNCs, their share would increase to 41% and on acquisition of the next rung of eight companies, their share will go over 55%.
What is a “Brownfield Project” ?
In a Brownfield project the structure would need to be demolished or renovated. Those facilities which are modified/upgraded are called Brownfield land projects (often the pre-existing site/facilities are contaminated/polluted.)
What is a “Greenfield Project” ?
A Greenfield is a project that lacks any constraints imposed by prior work. The analogy is to that of construction on greenfield land where there is no need to remodel or demolish an existing structure. Examples of greenfield projects are new factories, power plants, airports which are built from scratch on greenfield land. Both the Greenfield Project and Brownfield Project relate to property construction.
Government sets up high-level panel to map status of tribals
August 20th, 2013
The Government has set up a high level panel to prepare a position paper on the socio-economic, health and educational status of tribals and also recommend policy initiatives as well as effective outcome-oriented measures to improve development indicators and strengthen public service delivery to STs. India has around 8.6% people belonging to tribal community. The population is concentrated in the north-east, particularly in Nagaland,Mizoram, Meghalaya and Arunachal Who will be the members of the Committee? Virginius Xaxa, noted tribal expert and eminent sociologist, who was recently appointed member of the Sonia Gandhi-led National Advisory Council, will be the head of the Committee. Other members include Usha Ramanathan, Joseph Bara, K.K. Misra, Abhay Bang and Sunila Basant, all of whom are familiar with the problems of tribals and come from diverse backgrounds — Law, History, Anthropology, Medicine and Administration. What will be the focus of the Committee? The panel is likely to focus on the following areas: · · · · The impact of involuntary displacement and imposed migration on tribal communities. Effect of rapid urbanisation on their original habitats To examine whether new possibilities of employment and livelihood available to them. To measure their asset base and income levels, and changes in the patterns of ownership and productivity of their immovable assets Pradesh, and in those parts now overrun by Maoists — Chhattisgarh, Jharkhand, Madhya Pradesh, Orissaand parts of Bihar and Maharashtra.
To analyze the role of public policy and the legal framework in facilitating/inhibiting such changes, the level of their socioeconomic development, and their relative share of public and private sector employment, and consider what steps have been taken by States/Union Territories for capacity building and improving their employability.
To examine whether tribal communities have adequate access toeducation and health services, municipal infrastructure, bank credit, and other services provided by government/public sector entities; and the level of schools, health centres, ICDS centres, etc, in areas of tribal concentration in comparison to the general level of such social infrastructure in various States. · To look at whether protective legislation such as the Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Act 1989, the Panchayats (Extension to Scheduled Areas) Act, the Forest Rights Act and the Food Security Ordinance are being implemented effectively.
FDI limit in Asset Reconstruction Companies hiked to 74% – RBI
August 20th, 2013
As per the RBI, the limit on Foreign Direct Investment (FDI) in Asset Reconstruction Companies (ARCs) has been increased to 74% from 49%, another measure to attract capital inflows to support a declining Rupee. The foreign investment limit of 74% in the company will include both FDI and Foreign Institutional Investment (FII) with a single portfolio investor not allowed to exceed 10% of paid-up capital in the ARC.
Centre, MCI seek review of SC judgment on NEET
August 20th, 2013
The Centre and the Medical Council of India (MCI) have filed a petition in the Supreme Court seeking review of the judgement declaring as unconstitutional the single National Eligibility-cum-Entrance Test (NEET) introduced by the MCI and Dental Council of India for admission to graduate and post graduate medical and dental courses across the country.
What was the Supreme Court’s judgement on NEET?
The apex court, in its July 18, 2013 judgement, had quashed the NEET by a 2:1 majority. The majority had held that MCI notification was in violation of Articles 19, 25, 26, 29 and 30 of the Constitution. It said that MCI is not empowered to prescribe all India medical entrance tests.
What are the Centre and the Medical Council of India (MCI) demanding from Supreme Court over National Eligibility-cumEntrance Test (NEET)?
The Centre and the MCI want the Supreme court to review the judgement otherwise, as per the MCI, it will seriously prejudice the progress of the process of holding common entrance test which has been evolved over the period of more than five years of deliberations, judicial orders. As per the Centre, ensuring uniform standards for medicaleducation was of paramount interest to the patient and the single-window system to draw the merit list was a step in that regard.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
As per petitioners, the guidelines on NEET ensure that the single-window admission system would not be in violation of the rights of States nor would it interfere with rights of religious and linguistic minorities. They referred to minority judgement that had held that under NEET though the students can be selected only on the basis of their merit, it would be open to the States to follow their reservation policy and it would also be open to the institutions based on religious or linguistic minority to select students of their choice, provided the students so selected have secured minimum marks prescribed at NEET.
U.N. Chief asks nations to contain declining Official Development Assistance (ODA)
August 20th, 2013
Ban Ki-moon, the U.N. Secretary-General, has expressed concerns over the continuous decline in Official Development Assistance (ODA) and has asked the nations to reverse the fall. In a progress report to the U.N. General Assembly on the Millennium Development Goals (MDGs), Mr. Ban expressed concern at the drop in ODA — which comes under MDG8, the global partnership — over the past two years. ODA fell by 4% in real terms in 2012, following a 2% dip in 2011, according to the Organisation for Economic Co-operation and Development (OECD). Since reaching a peak in 2010, ODA has fallen by 6% in real terms. As per the report, ODA will remain crucial to leverage other finance, particularly for the least developed countries and those emerging from conflicts and disasters. The report asks donors to establish a timetable for meeting ODA targets and enhancing the principles on development effectiveness, as set out in Busan, South Korea, where ownership of development strategy by aid recipients was emphasized.
What is Official Development Assistance (ODA)?
Official Development Assistance is defined as those flows to countries and territories on the the list of recipients of the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) and to multilateral development institutions which are: · · · · provided by official agencies, including state and local governments, or by their executive agencies; and each transaction of which: is administered with the promotion of the economic development and welfare of developing countries as its main objective; and is concessional in character and conveys a grant element of at least 25% (calculated at a rate of discount of 10% )
Ministry of Finance launches “STAR scheme”
August 20th, 2013
STAR: (Standard Training Assessment and Reward)
The Ministry of Finance launched the National Skill Certification and Monetary Reward Scheme that will be implemented on national level. The scheme will motivate the youth to acquire a vocational skill. The scheme is expected to benefit a million people in the first year of its implementation. The scheme which is promoted by the name STAR (Standard Training Assessment and Reward) envisages for a monetary reward to financially help those who wish to acquire a new skill or upgrade their skills to a higher level. The scheme will also be helpful for implementation of the National Skilling Mission which aims to add 500 million skilled Indians by the year 2022. While 150 million are expected to be contributed by the private sector working under National Skill Development Corporation (NSDC), 350 million will be contributed by 18-odd ministries at the Centre. The scheme has been started with Rs 1000 crore budget to benefit at least 1 million people. Under this scheme each tested and certified trainee will get an average of Rs. 10,000 to cover training costs.
National Skill Development Corporation
National Skill Development Corporation, a body under the Ministry of Finance, is one of its kinds public private partnership initiative with 51% equity held by private sector and 49% by the Union Government. Established in 2010, NSDC is a professionally run not-for-profit company that includes 22 Sector Skill Councils and 87 training partners with over 2500 training centres present in 352 districts in the country.
“Ug99 is not an immediate threat to India’s crops” – Scientist Ronnie Coffman
August 20th, 2013
As per noted scientist Ronnie Coffman from College of Agriculture and Life Sciences at Cornell University (US), India does not face any immediate threat from the Ug99 wheat rust disease that hits the stem of a wheat plant. However it has to be prepared.
What is Ug99?
Ug99 is a lineage of wheat stem rust (Puccinia graminis f. sp. tritici), which is present in wheat fields in several countries in Africa and the Middle East and is predicted to spread rapidly through these regions and possibly further afield, potentially causing a wheat production disaster that would affect food security worldwide. It can cause up to 100% crop losses and is virulent against many resistance genes which have previously protected wheat against stem rust. So far the Indian sub-continent had been safe. If the disease were to hitAfghanistan, Pakistan and India, it would hurt wheat availability around the globe. The spread of the wind-blown disease would depend on the west-east air flow pattern.
What are the possible remedies to tackle Ug99?
India, which has been one of the biggest sources of providing plant material for developing rust resistant varieties for the world, may use its rust resistant varieties of wheat to replace the wheat which is vulnerable to Ug99. Furthermore, the disease can be kept under control by surveillance and fungicide sprays with full participation of farmers.
What is the status of Wheat production in India?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The wheat production in India is steadily increasing and currently it is preparing to boost its output to a record level of 100 million tonnes in 2015. India is the second largest wheat producer and consumer in the world. In 2012-13, the country produced 92.46 million tonnes of wheat. This is 13.2% of the world’s production.
SEBI auctions Govt. debt securities worth $9.34 bn
August 22nd, 2013
With the aim to attract foreign investors towards Indian debt market, market regulator SEBI auctioned government debt securities worth $9.34 billion (Rs 58,264 core) and it received bids worth $10.4 billion (Rs 64,908 crore). The FIIs were in a trend of selling their holdings after the US announced that it would taper the the $85-billion-a-month bond purchase programme as early as next month and end it next year if the US economic recovery is up to its expectations. This is the biggest ever auction for such bonds and exceeds the previous record of Rs 42,022 crore, auctioned two months ago on June 20, and neutralizes the prevailing concerns in markets with regard to foreign investments. As per experts, the fall in the Indian currency has been instrumental in overseas investors exiting debt markets as the rising cost of hedging a volatile rupee hurt the yield differential the FIIs work with. With a view to attract foreign investments, the government recently raised the investment limits for FIIs in government debt to $30 billion, from $25 billion previously.
Government bans duty free TV imports by air travelers with further decline of Rupee
August 22nd, 2013
The government banned duty free import of flat screen television by air travelers with a view to control down sliding rupee which declined below the 63 level against US dollar. Air travelers, presently, can bring a flat screen television for personal use without paying any duty. The import of flat panel (LCD/LED/Plasma) television as part of free baggage allowance will be discontinued with effect from August 26, 2013. Thus in order to import TV buyers would need to pay the duty. Apart from this, in order to contain the Current Account Deficit (CAD)and control the declining value of rupee the government has raised duty on gold, platinum and silver to 10%. The steps would be taken to compress import of non essential goods.
RBI lowers remittance limit, discourage green card dreams
August 23rd, 2013
Taking further measures to reduce the burden on the already weakened rupee, RBI reduced the limit for remittances made by individuals to $75,000 from $200,000 per financial year and banned the purchase of property outside India. The rich Indians with a view to invest in abusiness or buy property in some foreign countries to gain permanent residency find their dreams crushed with this measure. Various countries and their conditions to afford a green card:
Countries such as the US, UAE, Australia, Bahamas, Spain,Mauritius and parts of Canada offer permanent residency and fast track green card to those who invest in businesses or property there. · · · · · The US EB 5 visa offers a fast track green card if one invests $500,000 in a business. Buying a property worth $500,000 one can get a permanent residency in the Bahamas. In Australia one has to invest $5 million to het the green card. In the UAE foreign property buyers are automatically given a three year residency permit. Canada’s Quebec province runs an investor programme which gives permanent residency to immigrants who can invest $800,000 in the province in the form of a guaranteed, interest-free loan.
Rafael Nadal and Azarenka win Cincinnati Masters title
August 23rd, 2013
Spanish tennis player Rafael Nadal beat American John Isner to win the ATP Cincinnati Masters for the first time and thus has become the first Spaniard to win in Cincinnati since Carlos Moya 11 years ago. This was his ninth title of 2013. He now ranks No. 2 in the world. In the women’s category, Victoria Azarenka defeated World No. 1 Serena Williams to claim the Cincinnati Masters title.
ISRO postpones GSLV launch due to glitch
August 23rd, 2013
The Indian Space Research Organisation (ISRO) cancelled Geosynchronous Satellite Launch Vehicle (GSLV) programme after imperfections in its indigenous cryogenic upper stage. The GSLV-D5mission to launch into orbit the advanced communication satellite GSAT-14 was dropped due to a fuel leak. The lift that was scheduled for 4.50 p.m. on August 19 from Sriharikota spaceport was just called off an hour before.
Why does the launch of GSLV-D5 hold significance?
GSLV-D5 has an indigenously built cryogenic engine which makes it special. The launch vehicle will place 1982-kg weighing GSAT-14 in orbit to signal India’s entry into an ivy league of nations with frontier capabilities of launching 2,000-2,500 kg class of advanced communication satellites in outer space. GSAT-14, the 23rd geostationary communication satellite built by ISRO, will join a line-up of nine Indian satellites to help provide a host of satellite based communication services, including tele-education and tele-medicine. · The satellite will enhance the in-orbit capacity of the extended C and Ku-band transponders in the INSAT-GSAT ecosystem to set the stage for new and exciting experiments driven by satellite-based communication.
India has developed this cryogenic engine as Russia denied India from providing a cryogenic engine.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
GSAT-14
· ·
Satellite with 6 extended C band and 6 Ku band transponders. It will enhance the communication transponder capacity
The previous two efforts of ISRO to launch the satellites GSLV-F06 carrying satellite GSAT-5P in December 2010 and GSLV-D3 carrying satellite GSAT-4 in April 2010 were not a success.
U.S. to help India deal with new security challenges
August 23rd, 2013
The U.S. has agreed to share its expertise with India in countering new security challenges mainly terrorism. The U.S. government has agreed to provide Indian officers of various agencies access to its specialized agencies under the Department of Homeland Security particularly the Georgia head-quartered Federal Law Enforcement Training Centres (FLETC) to help them deal with the changing face of international terrorism. According to this programme, the Indian officials and security officers would go through various courses like Cyber Security, Megacity Policing and Forensic. India seeks to build an army of experts who can handle new technologies and mechanism to deal with various kinds of terrorism and anti-national activities with the passage of time.
Focus of US training programmes:
· · ·
The U.S. programmes will deal with four aspects of terrorism: Global supply chain, transportation, port, border and maritime security Megacity policing and sharing of information among federal, State and local partners Illicit finance, smuggling of cash, financial fraud and counterfeiting
Cyber security and critical infrastructure protection.
What is “Megacity Policing”?
The U.S. has also offered India to help develop the concept of Megacity Policing with the growing population in cities and increasing threat perception and which is a step it has been promoting since the 9/11 attacks. An advance course in surveillance, control room design and its operation by various security agencies and police authorities are key elements of this concept.
Who will participate in the US-security training programmes?
The officials would be among the agencies and government departments including the National Security Council Secretariat, the National Investigation Agency, the Intelligence Bureau, the National Technical Research Organisation, the Central Bureau of Investigation, the paramilitary and State police forces, the Customs, the Narcotics Control Bureau (NCB), the Enforcement Directorate, the Directorate of Revenue Intelligence (DRI), the Ministry of Telecom and Information Technology, the Coast Guard and the Bureau of Civil Aviation Security.
Delhi, AP, Haryana and Uttarakhand launch Food Security Scheme
August 23rd, 2013
The State Governments of Delhi, Arunachal Pradesh, Haryana andUttarakhand have launched the Centre sponsored Food Security Scheme. The food security scheme aims at ensuring the poor to get essential food commodities such as wheat and rice at affordable prices including Rice at 3 Rs/kg, Wheat at 2 Rs/kg and Coarse grain at 1 Rs/kg. States and their objectives under the scheme: Delhi
The food security scheme would come into force from September 1, 2013 and will initially cover 32.27 lakh people which is about 20 % of Delhi’s population. This population currently gets wheat, rice and sugar at subsidised rates through the Public Distribution System (PDS). · The beneficiaries include people getting ration through PDS under the Antyodaya Anna Yojana, BPL, Jhuggi Ration Card (JRC) and Resettlement Colonies Ration Cards (RCRC) schemes. About 5.22 lakh beneficiary families are being given special cards. · · · · · Eldest woman in every eligible household will be treated as the head of the family for entitlements. The scheme will include homeless people, daily wage-earners, rag-pickers as well as people living in resettlement colonies and slum clusters in the first phase of the implementation of the scheme. No income tax payers, vehicle and house owners will be included in the scheme in the first phase. During the first phase the scheme will cover Antoyoda Anna Yojana families and all BPL families. The scheme would be implemented from September 1, 2013 throughout the State after scrutiny of initial list of beneficiaries. The Antoyada families will get 35 kilogram wheat whereas BPL families will get 5 kg wheat per member of the family at nominal price of 2 Rs/kg. The wheat would be distributed through 9174 fair price shops already operational in the State. · The scheme will benefit 126.49 Lakh people of the State. In rural areas 90 lakh 28 thousand people will be benefited whereas in urban areas the number of beneficiaries will be 36 lakh 21 thousand. Arunachal Pradesh · The scheme will cover 66.3% of rural and 51.55% of urban population in the State. Uttarakhand Haryana
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· Food security scheme covers 62% of population in the State.
India draws China’s attention towards trade imbalance issue
August 23rd, 2013
India raised the issue of heavy trade imbalance with China and sought immediate steps to facilitate Indian exports of pharmaceutical and agricultural products, buffalo meat and Information Technology (IT) services. Both the nations agreed that the working group on trade and economic cooperation should meet in September 2013 along with another working group on trade in services and trade statistics to implement the decision taken by the two sides. They also discussed about Joint Economic Group (JEG) meet likely to be held in late October 2013 in Beijing. India also sought Chinese investment in manufacturing in the National Manufacturing Investment Zones.
What is the task assigned to Joint Economic Group between India and China?
India’s trade imbalance with China.
The working group on the trade and economic cooperation is mandated to prepare an action oriented work plan for improving India’s import volume staggeringly exceeds its exports to China. During January- June 2013 India’s export to China stood at $5.42 billion whereas imports were $24.70 billion.
World Bank and India ink credit pact for Low income Housing Finance Project
August 23rd, 2013
The Government of India and the World Bank signed a $ 100 million credit agreement for providing assistance to Low Income Housing Finance Project aimed at helping low income households to secure loans to purchase, build or upgrade their dwellings. The project will be financed by a credit from the InternationalDevelopment Association (IDA) which is the World Bank’s concessionary lending arm which provides interest free loans with 25 years to maturity and a grace period of five years. National Housing Bank (NHB) will be responsible to carry out the project.
About Low Income Housing Finance Project:
· · · · · their dwellings.
It aims to provide access to sustainable housing finance for low income households to purchase, build or upgrade It strengthens government’s agenda of financial inclusion by making it easier for low income households in urban areas to access housing finance. It will also support financial institutions which target low income households and build their capacity to scale up sustainable housing finance. It will allow low-income households to switch from informal finance to longer-term, formal sources for their housing needs. The project funding is a financial intermediary loan for an implementation period of 5 years.
India’s sovereign outlook remains negative on S&P ratings
August 23rd, 2013
Global sovereign rating agency Standard & Poor’s said it will maintain negative outlook for the India as currency depreciation is adversely impacting investors’ confidence. They will maintain a negative outlook on India’s BBB sovereign credit ratings. S&P’s statement came when the rupee slid down to a record low of 64.11 to a dollar.
What is BBB?
BBB is the lowest investment grade and a downgrade would mean pushing the country’s sovereign rating to junk status making overseas borrowings by corporates costlier.
According to S&P:
· ·
India’s long term growth prospects could weaken on a sustained basis, with negative implications for the sovereign credit fundamentals.
The capital outflows and depreciating rupee is an indication of weakening investor confidence in India. This is a result of the declining economic growth in the past two years and insufficient long term policy response that could reverse the decline and revive investments.
Investments continue to be strangled by inadequateinfrastructure, rigidities in labour and product markets, and red tape, among other issues. · Future credit rating action would depend upon the response of policy-makers to the latest economic developments.
EC to use VVPAT system in Nagaland by polls
August 23rd, 2013
The Election Commission of India has decided to use Electronic Voting Machines (EVM) for the first time with Voter Verifiable Paper Audit Trail (VVPAT) in the September, 2013 by-poll to the Noksen Assembly constituency in Nagaland. The Government of India amended the Conduct of Election Rules, 1961in order to use VVPAT Systems.
What is Voter Verifiable Paper Audit Trail System (VVPAT)?
The VVPAT system is a new initiative of the Election Commission of India to ensure free and fair elections. · · The VVPT will enable voters to see a printout of their ballot thereby displaying the name, election symbol and serial number of the chosen candidate. However the voter will not be permitted take the printout home. In case there is a dispute about the voting and a petition is filed, the votes can be tallied electronically and physically with the ballot slips that fall into the compartment.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The cost of each VVPAT manufactured by Bharat Electronic Ltd. (BEL) and Electronics Corporation of India (ECIL) is estimated at about Rs. 12,000.
Indian Air Force land heavy lift aircraft in Daulat Beg Oldie
August 23rd, 2013
The Indian Air
Force landed
its C-130J
Super
Hercules transport
plane
at the
world’s
highest
and
recently
opened
airstrip at Daulat Beg Oldie (DBO) in Ladakh that is close to the Line of Actual Control (LAC) where Indian and Chinese troops had witnessed a three week stand-off in April 2013.
What does India’s landing C-130J Super Hercules at DBO show?
The landing of the heavy lift
aircraft at the world’s highest and recently opened airstrip at Daulat Beg Oldie
(DBO) demonstrates its ability to use the heavy-lift aircraft to induct troops, supplies, improve communication network and will also serve as a morale booster for maintenance of troops positioned at such heights in Ladakh region. It will put IAF in a better position to meet the requirements of our land forces which are heavily dependent on the air bridge for sustenance in these higher and inhospitable areas.
RBI takes measures to ease liquidity
August 23rd, 2013
RBI took a few measures to ease liquidity including Rs 8,000 crore bond buyback, to ensure adequate credit flow to the productive sectors of the economy to counter the surge in interest rates following its steps to support falling rupee.
RBI has decided to take following measures to ease liquidity:
Conduct open market purchase of government bonds of Rs 8,000 crore to inject liquidity. More Open Market Operations (OMO)would be undertaken when required. Retain the Statutory Liquidity Ratio (SLR) which is the portion of total deposits banks are required to park in G-Secs at 24.5 % to help banks reduce Market-to-Market (MTM) losses resulting from abnormal market condition. Relax SLR requirement by allowing banks to retain SLR holdings inHeld To Maturity (HTM) bonds category at 24.5 % until further instructions. Banks have the option of valuing these securities for the purpose of such transfer. As per RBI the hardening of long term yields has resulted in banks incurring large MTM losses in their investment portfolio and these MTM losses are partially resulting from abnormal market conditions and could be expected to be largely recouped going forward.
RBI eases portfolio investment scheme for NRIs
August 23rd, 2013
The Reserve Bank of India eased the rules governing portfolio investments such as equity and debt by Non-Resident Indians (NRIs) to pull in foreign currency. Under the Portfolio Investment Scheme (PIS) for NRIs, banks were given a unique code for each branch making it unwieldy for them to administer the scheme. Now, RBI has allowed banks to do away with the unique code for branches making banks free to administer the PIS scheme for NRI. As per the guidelines of the RBI: · · · The designated branch of the bank will grant a one-time permission to the NRI applicant for the purchase and sale of shares or convertible debentures of an Indian company. Two distinct permission letters (for repatriation basis and non-repatriation basis) shall be issued as per the prescribed format. The designated branch will open a separate sub-account of NRE/NRO account (opened and maintained by an NRI in terms of the Foreign Exchange Management (Deposit) Regulations, 2000) for the exclusive purpose of routing the transactions under PIS on behalf of an NRI. · · If NRI is eligible to make investment in India his resident power of attorney holder can be permitted by AD bank to operate NRE (PIS)/NRO (PIS) account to facilitate investment under the scheme. Shares or debentures purchased will be held and registered in the name of the NRI and the shares or debentures acquired by the NRI under the scheme will not be pledged for giving loan to a third party without prior permission of the RBI.
Banks must ensure that NRIs are not allowed to invest in any Indian company which is engaged or proposes to engage in thebusiness of chit fund, nidhi company, agricultural or plantation activities. NRIs investments can’t be made in real estate business excluding development of townships, construction of residential or commercial premises, roads or bridges, educational institutions, recreational facilities, city and regional level infrastructure, townships.
No proposal to increase FDI ceiling in banks
August 24th, 2013
The government has clarified that there is no proposal to raise foreign investment limit in the banking sector.
What is the current status of foreign investment in banking sector?
Currently, the aggregate foreign investment (FDI, FII and NRI) cannot be more than 74% in private sector banks while the limit is at 20% for nationalized banks, State Bank of India and its associate banks.
What is the status of FDI in insurance sector?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The government intends to increase the FDI limit in insurance sector. For this it introduced the Insurance Laws Amendment Bill, 2008 in Parliament to increase it from current 26% to 49%. The coverage of life insurance in India has enhanced from 2.15% in 2001 to 3.17% which is above Brazil,Russia, Malaysia, Pakistan, China, Sri Lanka, Australia andGermany. However, the penetration is below France, Switzerland, the UK,the US, Japan, Singapore, South Korea, Taiwan and Hong Kong.
“Correlation between wealth and height true, but not always” – Research
August 24th, 2013
A new research shows that there is a direct correlation between how tall one would grow and how rich one’s State was when one was born. But the relationship between a State’s income and the height of its residents is growing weaker over time as a result of inequality within States. Faster growing States will not necessarily get healthier and taller at an equally fast rate if their inequality levels are high. Key observations of the study:
On a comparison of the Net State Domestic Product per capita (NSDP) with the height of the population in the State and otherhealth data obtained from two rounds of the National Family Health Survey (NFHS) in 1998-99 and 2005-06, it was found that there was a strong relationship between the NSDP for the year preceding the NFHS rounds and the heights of children aged 2 to 3. · Growth in NSDP per capita between the two rounds of the NFHS (1998-99 and 2005-6) was however not directly correlated with improvements in stunting.
Health improvement is a combined effort of socio-economicdevelopment, medical advancement as well as other factors like improvement in health facilities and women’s access. · Higher income States have almost the same average levels of inequality as lower income states and there is a strong correlation between income inequality and health problems.
Portal launched to facilitate RTI application filing in all Govt Ministries
August 24th, 2013
The government has launched a portal which will facilitate citizens to file RTI applications online in all central government ministries and departments. The web address of the portal is www.rtionline.gov.in The portal is a step to provide greater transparency in governance through the Right to Information Act which mandates timely response to citizen’s requests for government information. About the online RTI portal: · Currently the text of an application that can be uploaded in the prescribed column on the portal while filing application is restricted to 500 words. In case an application contains more than 500 words, it can be uploaded as an attachment.
An information seeker can submit a fee of Rs.10 via Internetbanking through State Bank of India (SBI) and its associate banks using the website. One can also use credit or debit cards. · An applicant will get an alert on the mobile phone about movement of the application. Answers to queries related to the portal can be sought on the telephone number 011- 24622461 during normal office hours.
Maharashtra govt. clears anti-superstition law
August 24th, 2013
The Maharashtra government decided to promulgate an ordinance to enact a long-pending bill to uproot black magic, blind faith and superstitious beliefs. The step has come following the death of anti-superstition activist Narendra Dabholkar . A prime supporter of the law, Dabholkar was shot dead in Pune which led to sparking outrage across the state. The Anti-Superstition Bill was first introduced in 1995 in the state legislature and was redrafted at least 29 times. Its clearance was delayed several times due to stiff opposition from various quarters’ especially Hindu groups which claimed it to be “anti-Hindu”.
Who was Narendra Dabholkar?
Narendra Achyut Dabholkar was an Indian rationalist and author from Maharashtra. He was the founder-president of Maharashtra Andhashraddha Nirmoolan Samiti (MANS) -”Committee for Eradication of Superstition in Maharashtra”, and campaigned against superstitions, confronting dubious tantriks and claimed holy men who promised ‘miracle cures’ for ailments. He criticized the country’s “godmen”, self-styled Hindu ascetics who claim to perform miracles and have many followers. He was the founding member of Parivartan, a rehabilitation centre located in Satara and served as vice president of the Federation of Indian Rationalist Associations (FIRA). Dabholkar was the editor of a renowned Marathi weekly Sadhana.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
India urges U.S. to renew GSP scheme
August 24th, 2013
India has expressed to the United States that it must issue an immediate renewal of the US Generalised System of Preferences (GSP) programme that expired on July 31, 2013.
What is the importance of the Generalised System of Preferences (GSP) programme?
The GSP programme helps developing countries expand their economies by increasing exports to the U.S. It also aids U.S. businesses by lowering the cost of imported goods that are used as inputs in value-added US production. U.S. businesses imported $19.9 billion worth of products under the GSP programme in 2012, including many inputs used in U.S. manufacturing. As per the recently released Trade Policy Agenda of the U.S. administration, helping developing countries grow and expand their economies through trade would also help the U.S. by providing its exporters greater opportunity to sell products to billions of new consumers abroad. The U.S. holds 16 % of India’s total services imports. Indian imports of US services is expected to rise sharply in the coming years as India’s middle class market expands and key services sectors bring in further reforms.
Bradley Manning sentenced to 35-year imprisonment
August 24th, 2013
The U.S. soldier Bradley Manning was convicted of the biggest disclosure of classified data in the nation’s history by leaking files to WikiLeaks and was sentenced to 35 years in prison.
Who is Bradley Manning?
Bradley Manning is a United States Army soldier who was arrested in May 2010 in Iraq on suspicion of having passed classified material to the website WikiLeaks. He was ultimately charged with 22 offenses, including communicating national defenceinformation to an unauthorized source and aiding the enemy. He was convicted in July 2013 of most of the charges, including several violations of the Espionage Act, but was acquitted of aiding the enemy, the most serious charge. Manning in 2010 turned over more than 700,000 classifiedfiles, battlefield videos and diplomatic cables to WikiLeaks,a pro transparency website. He was working as a low-level intelligence analyst in Baghdad when he handed over the documents thereby catapulting WikiLeaks and its founder, Julian Assange into the international spotlight.
Top tech cos join hands to launch ‘Internet.Org’
August 24th, 2013
Seven of the world’s tech giants (Ericsson, MediaTek, Nokia, Opera, Qualcomm and Samsung) collaborated to launch Internet.org with an aim to make Internet access affordable for people across the globe. The initiative will be headed by Facebook Founder and CEO, Mark Zuckerberg.
What is “Internet.org” ?
· · · · ·
Internet.org is an initiative of Facebook and six other technology giants, namely Ericsson, MediaTek, Nokia, Opera, Qualcomm and Samsung. The partners will collaborate towards developing lower-cost, higher-quality smartphones and deploying Internet access in undeserved communities. The endeavour is to overcome current challenges, including developing technologies that make mobile connectivity more affordable and decrease the cost of delivering data to people worldwide. The partners will develop joint projects, share knowledge, and mobilise industry and governments to bring the world
online. Focus will be on developing technologies that make mobile connectivity more affordable and decrease the cost of delivering data to people worldwide.
Sharing tools, resources and best practices, Internet.org partners will explore solutions in three major opportunity areas:affordability, efficiency, and business models. In order to achieve its goal of connecting the two-thirds of the world who are not yet online, internet.org will focus on three key challenges in developing countries: · · · Making access affordable (Affordability) Using data more efficiently (Efficiency) Helping businesses drive access (Business Models)
AFFORDABILITY No one should have to choose between access to the internet and food or medicine. Internet.org partners will join forces to develop technology that decreases the cost of delivering data to people worldwide, and helps expand internet access in underserved communities. EFFICIENCY Transmitting data—even a text message or a simple web page—requires bandwidth, something that’s scarce in many parts of the world. Partners will invest in tools and software to improve data compression capabilities and make data networks and services run more efficiently. BUSINESS MODELS
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Connecting billions of people will be a massive global effort that requires ongoing innovation. Developers, mobile operators and device manufacturers will work together to introduce business models that give people more ways to go online.
Asian currencies slide down on Fed signals
August 26th, 2013
With the indication by the Federal Reserve Bank of the US that the central bank could start scaling back its stimulus as early as September 2013 various Asian currencies fell as a response to this. The rupee continued to depreciate against the dollar and reached a new low of 64.55. Other Asian currencies who suffered the decline includeIndonesian rupiah; Malaysian ringgit Thailand’s baht, Philippine peso, Manila’s financial markets were closed from Monday to Wednesday due to heavy rains and a holiday when most of its Asian peers fell.
What is the impact of Fed Bank’s decision to taper the stimulus?
The U.S. economy generated a wave of cheap money when it introduced quantitative easing to tackle global financial crisis of 2007. The cheap money moved into emerging market currencies, equities and bonds. The recent Fed Bank indication of a phased withdrawal of its stimulus package currencies across the region has made foreign investors to sell their stakes and withdraw the money. Foreign investors have been pulling money out of India as the economy has slowed down and the cost of borrowing in dollars has risen.
Afghanistan permits SAIL to develop Hajigak assets in phases
August 26th, 2013
Afghanistan conveyed the SAIL-led team that it did not have any objections to the $10.8 billion iron ore and steel plant project being developed in phases in Hajigak Mine.
Where is Hajigak mine?
Hajigak Mine is the best known and largest iron oxide deposit in Afghanistan is located at Hajigak in Bamyan Province, it is also Asia’s biggest untapped iron ore deposits.The deposit itself stretches over 32 km and contains 16 separate zones, up to 5 km in length, 380 m wide and extending 550 m down dip, seven of which have been studied in detail. The ore occurs in both primary and oxidized states. The primary ore accounts for 80% of the deposit and consists of magnetite, pyrite and minor chalcopyrite. The remaining 20% is oxidized and consists of three hematitic ore types.
Who is developing the Hajigak mining project?
The project is being developed by Afghan Iron and Steel Consortium (AIFSCO) which won the bid for the project in 2011. AIFSCO which consists of state-owned SAIL, RINL and NMDC is holding a combined 56%stake. The balance is held by private firms such as JSW, JSPL and Monnet Ispat & Energy. AIFSCO will set up a steel plant of 1.25 mtpa and a 120 MW captive power plant with $2.9 billion investment. The investment is likely to be between $10 billion and $11 billion. It will be done in phases. Steel plant will be developed in phases and it will be of 7 mtpa size. The local government would also allow the SAIL-led team to market its products in the neighbouring region. Afghanistan’s annual steel demand now stands at 1-1.5 mtpa. However, the demand would go up while rebuilding the war-torn nation.
Offshore markets affecting rupee fluctuations
August 27th, 2013
The RBI stated in its annual report that the Non-Deliverable Forwards (NDF) markets are exerting more pressure on the onshore currency market, especially when rupee is under stress. The rupee has nearly declined 21 % so far this fiscal. As per RBI, during the period of the rupee fall the shocks originating in the NDF market may carry more information which is mirrored in the onshore segments of the market through mean and volatility spill over. It further says that during the period of the rupee appreciation the NDF market and the rupee spot market exhibit a bidirectional relationship. However at times of rupee fall relationship turns unidirectional from the NDF to onshore market.
What is NDF (Non-Deliverable Forwards)?
Non-Deliverable Forwards (NDF) is a foreign exchange derivative instrument traded over the counter and is operated in currencies that are not freely convertible such as the rupee. The market enables hedging of exchange rate risks irrespective of any restrictions arising in the currency of origin.
Government approves bill to change collegium system
August 27th, 2013
The government has decided to scrap the collegium system of appointing judges to the Supreme Court and High Courts. The Cabinet approved a bill which proposes replacing the collegium system with a Judicial Appointments Commission wherein the government will have a say in appointment of judges of the Supreme Court and the 24 high courts.The government seeks to set up a panel headed by the Chief Justice of India (CJI) to appoint and transfer senior judges.The other members of the proposed Commission would be two judges of the Supreme Court, the Law Minister, two eminent persons as members and Secretary (Justice) in the Law Ministry as Member Secretary.The leader of the Opposition will not be part of the proposed body as per the bill in its current form.
Cabinet agree to nullify apex court’s verdict on lawmakers
August 27th, 2013
The Union Cabinet agreed to two proposals which will allow those in jail to contest elections and also allow convicted MPs and MLAs to retain their membership during the pendency of their appeals even as they will be barred from voting or drawing a salary. The two proposals were approved in the form of amendments to the Representation of the People Act.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Why this move by the Union Cabinet ?
contesting elections. 1. An MP, MLA or MLC cannot be disqualified after conviction if he or she files an appeal within 90 days from the date of conviction and such a conviction is stayed by the court. As per the draft bill, a provision added to sub-section (4) of section 8 of the RP Act makes it clear that the convicted member shall continue to take part in proceedings of Parliament or State legislature but he or she shall neither be entitled to vote nor draw a salary and allowances till the appeal or revision is finally decided by the court. 2. It adds a provision to sub-section (2) of section 62 of the RP Act to state that a person cannot cease to be a voter while in detention as his or her right is only temporarily suspended. It further states that as the name of the jailed person continues to be on the electoral rolls he or she also continues to be an elector and can file his nomination for an election.
The move is targeted to negate the two Supreme Court’s verdicts which barred convicted persons and those in jail from
The two proposed amendments to Representation of the People Act:
CCEA cleared 3.1 million tonnes of extra foodgrain for States under Food Security Scheme
August 27th, 2013
The Union Government of India declared that it will provide an extra 3.1 million tonnes of food grains to the states under the Food Security Programme at Above Poverty Line (APL) rates. The decision to provide extra food grains at APL rates was decided in a meeting ofCabinet Committee on Economic Affairs (CCEA). The APL rates for extra food grains are 1 rupee and 30 paise per kg for rice and 6 rupees and 10 paise per kg for wheat for the 18 states including Kerala, Tamil Nadu, Andhra Pradesh, Delhi and Jammu and Kashmir. The supply of extra food-grains will cost the exchequer nearly 5100 crore rupees annually.
Hysterectomies will be a part of health survey
August 27th, 2013
The government will collect information on Hysterectomies in the National Family Health Survey (NFHS) in the 4th round which is scheduled in January 2014.
What is “Hysterectomy”?
Hysterectomy is the complete or partial removal of the uterus and sometimes ovaries, cervix and fallopian tubes, usually performed by a gynecologist. Hysterectomy may be of two types: a) Total i.e. removing the body, fundus, and cervix of the uterus; often called “complete”. b) Partial i.e. removal of the uterine body while leaving the cervix intact; also called “supracervical”.
Why is Hysterectomy performed?
Hysterectomy is opted for if the uterus is causing health problems that cannot be treated by other means. Some reasons a woman may have a hysterectomy are to: · · · · Treat cancers such as uterine , endometrial, or ovarian cancers Remove uterine fibroids -common, benign (noncancerous) tumors that grow in the muscle of the uterus Treat chronic pelvic pain Treat heavy bleeding
Why hysterectomies is being included in the National Family Health Survey (NFHS) ?
The step has been taken keeping in view the demand from the health activists and medical practitioners following reports of rising cases of hysterectomies across the country. According to the activists deceitful doctors were performing hysterectomies on pre-menopausal and even women younger than 30 years for monetary gains.
The data generated during the NFHS could be used for formulating guidelines to conduct surgeries for removing the uterus. Hysterectomy may have a significant impact on woman’s health. So the rising concern is not just about the high expenditure and medical ethics but also about the complications and troubles that follow. Presently there are no exact statistics to show the prevalence rate of these operations and it is believed that they are thesecond most common surgeries performed on women, second only to caesarean sections.
England wins Ashes 2013
August 28th, 2013
England clinched Ashes 2013 series with 3-0 win over arch-rivalsAustralia. The fifth and last test match played at the Oval stadium ended in a draw.
Key Players of Ashes Test Series 2013:
Man of the Series (England): Ian Bell Man of the Series (Australia): Ryan Harris
International Children’s Peace Prize 2013 goes to Malala Yousafzai
August 28th, 2013
Famous Pakistani brave girl and activist Malala Yusafzai who was shot in head by Taliban for campaigning for girls’ right to education, has won the prestigious International Children’s Peace Prize 2013. She is currently living in Britain where she was given life-saving treatment.
About International Children’s Peace Prize:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The International Children’s Peace Prize is awarded every year to a child who has made a remarkable contribution to advocating children’s rights and improving the condition of vulnerable children such as orphans, child labourers and children with HIV/AIDS.
Who established International Children’s Peace Prize ?
in Amsterdam, theNetherlands.
The prize was established by the Kids Rights Foundation, an international children’s aid and advocacy organization based
Who was the first child to get International Children’s Peace Prize?
In 2005, the first International Children’s Peace Prize was awarded to Nkosi Johnson posthumously. He was a South African boy who brought international attention to children with HIV/AIDS and founded the Nkosi’s Haven home for HIVpositive mothers and children.
Brigalia Bam honored with Gandhi Peace Prize
August 28th, 2013
Brigalia Bam, former head of South Africa’s election body, received the prestigious Mahatma Gandhi International Award for Peace and Reconciliation recognizing her commitment to democracy. Bam was conferred with this honor for ensuring free and fair elections since the establishment of democracy in 1994 when anti-apartheid icon Nelson Mandela was elected the country’s first democratic president.
About Mahatma Gandhi Peace Prize:
The Prize was established in 2003 to mark the centenary of Indian Opinion, a newspaper started by Mahatma Gandhi in South Africa. He began his socio-political life in the country and fought for justice, peace and reconciliation.
Parthasarathi Shome appointed as chairman of TARC
August 28th, 2013
The government has set up a 7-member Tax Administration Reform Commission (TARC) which will be headed by Parthasarathi Shome.
What will be major tasks before Tax Administration Reform Commission (TARC) ?
other key taskswill be:
The TARC will revisit tax laws and suggest measures for putting in place a stable and non-adversarial tax administration. Some
Review the current mechanism of dispute resolution covering time and compliance cost and recommend steps for strengthening them for both domestic and international taxation. · · Reviewing the existing mechanism and recommend measures for deepening and widening the base of tax and taxpayers. Suggest a system to enforce better tax compliance — by size, segment and nature of taxes and taxpayers, that should cover methods to encourage voluntary tax compliance.
Suggest measures for strengthening the database and inter-agency information sharing, not just between the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC) but also with the banking and financial sector and other agencies such as Central Economic Intelligence Bureau (CEIB), Financial Intelligence Unit (FIU) and Enforcement Directorate to ensure improved tax compliance through sharing of such information.
First Typhoid vaccine promising long-term protection launched by Bharat Biotech
August 28th, 2013
Hyderabad based Bharat Biotech launched world’s first clinically proven typhoid conjugate vaccine, Typbar – TCV.
How Typbar-TCY is different from existing vaccines?
·
Typbar-TCV has a sharp edge over the existing typhoid vaccines as the latest conjugate vaccine provides long-term
protection — for about 10 years — with a single dose. World over around 200 lakh people are affected annually by typhoid, out of which around 2 lakh die. About 62% of these were in Pakistan andIndia.
Solution for Global Hunger: Study shows instant noodles can play key role to battle global hunger
August 28th, 2013
Instant Noodles a solution to Global Hunger:
As per a latest study by Deborah Gewertz, Professor of Anthropology at Amherst College in US, instant noodles can play a significant role in combating the challenge of global hunger which is aggravating with the increasing population. The study examines the history, manufacturing, marketing and consumption of the ubiquitous foodstuff and suggests that instant noodles will have an increasingly important global role in the future. As per the study, instant noodles are served in variable forms and have already shown a remarkable potential to be a part of diverse lives. Researchers expect that the calories provided by the tasty, convenient, cheap, shelf-stable, industrially prepared instant noodles will remain important as food becomes scarcer in the future.
What is the origin of Instant Noodles?
Instant noodles were invented by Taiwan-born inventor Momofuku Ando in Japan. They were first marketed on August 25, 1958, by Ando’s company Nissin under the brand name Chikin Ramen. In India the most popular brand is Nestle’s Maggi which is regarded in popular culture as a two-minute noodle.
Current Affairs: Top Headlines for August 29, 2013
August 29th, 2013
Rupee decline to make cars, consumer durables costly
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
With rupee continuously loosing against dollar, cars, TVs, washing machines and other consumer durables are likely to cost more with companies set to increase prices to offset impact on their margins. Car-maker General Motors India, Godrej Appliances and Haier indicated that they would increase prices of their products by 2% to 7%.
Rupee tumbles to new low of 68.85
The rupee fell to an all-time low of 68.85 against the dollar and closed at 68.80, recording its biggest single-day loss of 256 paise, as global oil prices soared, aggravating concerns about the Current Account Deficit (CAD) and capital outflows. The rupee is under pressure due to consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices.
NASA uses Chandrayan’s data to detect water on Moon
Scientists from the US space agency NASA have detected magmatic water under the Moon’s surface. They used the data collected by the Moon Mineralogy Mapper (M3) instrument aboard the Indian Space Research Organisation’s (ISRO) Chandrayaan-1 spacecraft, to remotely detect magmatic water, or water that originates from deep within the Moon’s interior, on the lunar surface.
Stage set to launch India’s first defence satellite
India’s first defence satellite GSAT-7 dedicated to Navy for maritime security is now set for the launch. The home-built satellite will be crucial as it will overcome Navy’s previous limitations from line of sight and ionospheric effects and will have coverage over India landmass as well as surrounding seas. It will be significant from security and surveillance points of view. The satellite will be launched into Geosynchronous Transfer Orbit (GTO) by Ariane-5 VA 215 by European space consortium Arianespacefrom Kourou spaceport in French Guiana.
India engages with US for quick renewal of GSP
India is in talks with the U.S. for speedy renewal of Generalised System of Preferences (GSP) programme, which had expired on July 31 2013, to enable duty-free imports from the country. Though the US has indicated that it was for renewal of GSP programme till September 2015 but India administration is perturbed over the delay which hampers India’s exports to US. Due to pending GSP regime Indian exports are subject to U.S. import duties.
India overtakes Japan to become world’s 3rd largest Internet user
As per a report by global digital measurement and analytics firm comScore, India has left Japan behind to become the world’s third largest Internet user after China and the United States. The report says that India now has nearly 74 million Internet users which marks a 31% increase over March 2012. With 3/4th of India’s online population under 35, the report shows, it is significantly younger than those of other emerging economies.
Government constitutes task force for currency swap arrangement
Feeling the heat of the continued fall in the value of rupee and soaring CAD, the Commerce and Industry Ministry has set up a task force which has representatives from the Ministry, Department of Economic Affairs, Reserve Bank of India (RBI), SBI, industry bodies FICCI, CII and Federation of Indian Exporters Organisation (FIEO) to plan currency swap arrangements with key trading partners of India.
Titan to venture into helmets, perfumes markets
Titan has planned enter into helmet and fragrance market by 2014. It projected a strategy to market superior quality ecofriendly helmets which will be suitable in tropical conditions. Titan which is a joint venture of Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) is India’s renowned watch, jewellery and eyewear maker.
India considers Iran for its oil import to slash import bill, CAD
With rupee declining to record lows impacting the import bill and CAD severely, the Oil Ministry has formulated a plan to save $22 billion in the oil import bill from Iran thus helping slash the Current Account Deficit (CAD). Due to sanctions on Iran, India has not been buying crude petroleum from the country for past few months. The step, if taken, would significantly save Indian foreign as India paysIran in rupees. Looking at the current depreciation of the rupee against the dollar, India is negotiating with Iraq the possibility of trade in local currencies, which would help insulate India’s oil imports from Iraq also.
Complaint against SBI for shaming students to be looked upon by the RBI
India’s largest public sector bank SBI is in bad light as complaint was made against the bank for shaming the students and their parents for defaulting on their education loan. The complaint which alleged that the Bodinayakanur branch of SBI in Theni district in Tamil Nadu displayed photos of students and their parents for defaulting on their educational loans is being looked into by the RBI.
Iran to take legal action against US over 1953 coup
August 30th, 2013
Iran has approved a bill that intends to sue the U.S for its involvement in the 1953 coup d’état that toppled the country’s democratically elected Prime Minister. The bill comes following the release of latest declassified documents revealing more details of how the CIA masterminded the overthrow of Prime Minister Mohammed Mossadegh 60 years back. The bill proposes for establishing a panel to investigate the issue and submit a report within 6 months before legal action is initiated against the U.S. government in an international court.
What was the revelation on Iran’s 1953 coup? What was “Operation Boot” (U.K.) and operation “TPAJAX Project” (USA)?
The 1953
Iranian
coup
d’état which
overthrew the democratically
elected government
of
Iran,
and
its head
of
government Prime Minister Mohammad Mosaddegh was orchestrated by the United Kingdom (under the name ‘Operation Boot’) and the United States (under the name TPAJAX Project). The CIA in August 2013 admitted that it was involved in both the planning and the execution of the coup, including the bribing of Iranian politicians, security and army high-ranking officials,
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
as well as pro-coup propaganda. The CIA acknowledged that the coup was carried out under its direction and was an act of U.S. foreign policy, conceived and approved at the highest levels of government. The coup reinstated the autocratic regime of Shah Mohammad Reza Pahlavi. He was later brought down in the 1979 Iranian revolution.
Top Headlines for August 30, 2013
August 30th, 2013
Melbourne tops the list of liveable cities in world
According to a survey conducted by the Economist Intelligence Unit, the Australian city of Melbourne is the most liveable city in the world while conflict battered Syria‘s capital Damascus is the least liveable city. The survey also lists Karachi and Dhaka among the least liveable cities.
HDFC Bank expands its rural business
HDFC Bank further expanded its rural presence by announcing the launch of 18 new rural branches in Haryana, taking its total network to 200 branches in the state. Of the 18 new branches 14 are in unbanked places which will bring formal banking services to around 90,000 people in the state. At the national level, the bank has 53% of its branches in semiurban and rural areas supporting the idea of inclusive growth.
Rupee could depreciate to 75, more measures needed: BofA-ML
According to a report by Bank of America Merrill Lynch (BofA-ML), if the current stance towards declining rupee is maintained then the scenario could be worse, rupee could touch 75 per US dollar by the end of 2014. It suggested the Reserve Bank of India (RBI) to take more pro-active measures to rebuild forex reserves. It also suggested the RBI to launch a scheme to attract significant forex inflows where the INR risk would be borne by the RBI to comfort investor confidence like issue of NRI or sovereign bonds or reviving FCNRA deposits.
National Sports Day celebrated across India
August 29 was celebrated as National Sports Day across the country to commemorate the birth anniversary of “the Wizard” of Hockey, Major Dhyan Chand. Various sporing events were organized across the nation to mark the day. It was 118th birth anniversary of Dhyan Chand, the legend who helped India win three Olympic gold medals in 1928, 1932, and 1936.
Scientists discover Sun’s twin
An 8.2-billion-year-old twin of the Sun has been discovered by the astronomers. Astronomers in Brazil used ESO’s Very Large Telescope to locate the star HIP 102152 located 250 light-years away. It is very similar to the Sun- except that it is nearly four billion years older. Studying the ancient star allows researchers to predict what may happen to our own Sun when it reaches that age. Rupee registers biggest single-day gain in 15 years with RBI’s intervention With the step taken by the Reserve Bank of India to open a special dollar facility for PSU oil firms, the rupee, which is under severe pressure, posted sharp 225 jump to end at 66.55 against the dollar and the sensex increased by over 400 points. The dollar facility will allow PSU oil companies to buy dollars directly to pay for the import of petroleum.
Right to Education anthem launched by Ministry of HRD
With a view to disseminate the message of Right to Education, the Human Resources Development Ministry launched an
anthem on the same which ideates to make education for children interesting and friendly. The ministry hopes that children will now imbibe the RTE message from popular public figures in a musical form. The anthem will be dubbed in English and 15 regional languages.
Second quarter brings sharp growth for US GDP
The U.S. Gross Domestic Product (GDP) speeded up more quickly than expected in the second quarter owing to increase in its exports, strengthening the case for the Federal Reserve Bank to taper the quantitative easing programme started in 2008 global financial crisis. As per revised estimates GDP rose at a 2.5% annual rate. The quarter’s growth rate was more than double the growth rate recorded in the previous 3 months.
Government approves RIL’s $3.18 bn gas field development project with BP
The Reliance Industries Ltd. and Bharat Petroleum’s plant invest $3.18 billion in the development of R-series gas field in the KG-D6 basin, which is expected to produce up to 13 million standard cubic meters gas, has been given government’s approval. The government has asked the operator to fast track the development of R-series discoveries to reverse falling output from the block, which declined to around 14 mmscmd from 62 in March 2010. At present, gas is produced from D1, D3 and MA fields in the KG-D6 block.
LIC raises it shareholding in SBI to 13.26%
Insurance giant Life Insurance Corporation (LIC) has increased its equity stake by 2.86% in the country’s largest public sector bank State Bank of India from 10.4 % to 13.26% by buying 19.57 lakh shares from open market. The additional stake would have been acquired by paying Rs 49.15 crore at current market price. With this, the equity share capital of the LIC has increased to Rs 684.03 crore from Rs 634.88 crore.
Stage set to launch India’s first defence satellite
August 30th, 2013
India’s first defence satellite GSAT-7 dedicated to Navy for maritime security is now set for the launch. The home-built satellite will be crucial as it will overcome Navy’s previous limitations from line of sight and ionospheric effects and will have coverage over India landmass as well as surrounding seas. It will be significant from security and surveillance points of view.
Key features of GSAT-7:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· · · · · · · · Indigenous Cost: Rs 185 crore Launch Cost: Rs 470 crore Geo-stationary communication satellite Carries payloads operating in UHF, S, C and Ku bands. Lift-off mass of 2625 kg, heavy satellite Strengthen Navy’s maritime security ability Overcomes previous limitations from line of sight and ionospheric effects
The satellite will be launched into Geosynchronous Transfer Orbit (GTO) by Ariane-5 VA 215 by European space consortium Arianespacefrom Kourou spaceport in French Guiana.
NASA uses Chandrayan’s data to detect water on Moon
August 30th, 2013
Scientists from the US space agency NASA have detected magmatic water under the Moon’s surface. They used the data collected by the Moon Mineralogy Mapper (M3) instrument aboard the Indian Space Research Organisation’s (ISRO) Chandrayaan-1 spacecraft, to remotely detect magmatic water, or water that originates from deep within the Moon’s interior, on the lunar surface.
What is Moon Mineralogy Mapper (M3)?
The Moon Mineralogy Mapper (M3) was one of two instruments that NASA contributed to India’s first mission to the Moon, Chandrayaan-1, launched on October 22, 2008. The instrument was managed by NASA’s Jet Propulsion Laboratory. M3 imaged the lunar impact crater Bullialdus, which lies near the lunar equator. In 2009, M3 provided the first mineralogical map of the lunar surface and discovered water molecules in the polar regions of the Moon.
India overtakes Japan to become world’s 3rd largest Internet user
August 30th, 2013
As per a report by global digital measurement and analytics firm comScore, India has left Japan behind to become the world’s third largest Internet user after China and the United States. The report says that India now has nearly 74 million Internet users which marks a 31% increase over March 2012. With 3/4th of India’s online population under 35, the report shows, it is significantly younger than those of other emerging economies. Some facts: · · · · · · As per Telecom Regulatory Authority of India (TRAI) India has 164.81 million Internet subscribers as of March 31, 2013, with seven out of eight accessing the Internet from their mobile phones. As per comScore mobile and tabled-based Internet traffic is at just 14% of the total. Men under 35 and women between 35 and 44 are heavier users. Women account for less than 40% of all Indian users, a much lower sex ratio than that of other nations. Users spend one-fourth of time spent online on social media and another 23% on email. While Google sites have the most unique visitors, internet users spend the most time on Facebook, which is at second place when it comes to unique visitors.
Indian railways website most popular in the category of online travel websites. · · Asia provides 41% of all Internet users; the United States accounts for just 13%. China is the largest user of Internet even as it outnumbers Indians by a ratio of 5: 1.
Researchers grow tiny brain cells in test tubes
August 30th, 2013
In a latest development in the field of Bioscience, scientists have grown mini human brains in test tubes, which will serve as a tool for them watch the development of brain in embryonic stage. They are hopeful that it will enhance their understanding of neurological and mental problems. These miniature human brains are the “cerebral organoids” which are a few millimetres across and are composed of layers of brain cells with defined regions that is similar to those seen in immature embryonic brains.
How would growing brain cells in test tube be useful?
The organoids grown in test tubes would aid scientists who want to analyze how disorder such as schizophrenia or autism occurs in the brain; though these are usually found in elderly people some of the underlying defects occur during the embryonic stage of brain’s development. These organoids are expected also to be useful in the development and testing of drugs.
Top Headlines for August 31, 2013
August 31st, 2013
Pakistan and Russia initiate Strategic Dialogue
Pakistan and the Russia held their first ever Foreign Secretary level interaction on the Strategic Dialogue in Moscow. Foreign Secretary of Pakistan Jalil Abbas Jilani and First Deputy Minister Vladimir Gennadievich Titov of the Russia participated in the talks. The discussion focused on regional and international issues, besides expanding trade and investment relations and cooperation in the field of energy and power generation.
Nobel laureate Seamus Heaney passed away
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Legendary Irish poet and winner of Nobel Prize in literature 1995, Seamus Heaney (74) passed away. Heaney’s award winning work focused on themes including his rural nurturing, the problems in Northern Ireland and the sense of community in his native Ireland. His notable works includeDeath of a Naturalist, District and Circle, the Spirit Level, and Beowulf. The government plans to release a notification to nearly 5 lakh employees prohibiting them from using email services such as Gmail that have their servers in the US, and instead directing them to use the official email service provided by India’s National Informatics Centre. The step comes in the wake of revelation of widespread electronic surveillance programmes for spying being run by various countries including the US. Former NIA contractor and whistleblower Edward Snowden recently revealed that through the surveillance programme PRISM the US government had been directly accessing vast amounts of personal data on the Internet such as emails and chat messages from companies like Google, Facebook and Apple.
Government to bar its employees from using Gmail
India’s fiscal deficit is around 63% of target
As per government data, India’s fiscal deficit during the April-July period was Rs 3.41 trillion ($50.91 billion), or 62.8% of the full-year target. Net tax receipts for the first 4 months of the current fiscal year to March 2014 touched Rs 1.45 trillion, while total expenditure was Rs 5.21 trillion. India’s fiscal deficit during the 2012-13 fiscal year ending March decreased to 4.9% of the country’s GDP, compared to 5.8% in 2011-12. The fiscal deficit target is 4.8% of GDP for the current fiscal year.
India registers 4.4% GDP growth in Q1 slowest in 4 years
The first quarter of the current fiscal has been slowest in over 4 years with GDP growth of 4.4%. The decline implies a deepening slowdown and aggravating the widespread negative sentiment brought on by the sharp depreciation of rupee depreciation and plunging stock markets.
Exclusive satellite for Indian Navy GSAT-7 launched
The European Ariane 5 rocket put it space India’s first military communication satellite GSAT-7 which was launched from the Kourou space port of French Guiana space in South America. The satellite will serve exclusively to Indian Navy. The satellite is expected to enhance the country’s maritime security and intelligence collection by covering a wide region on either coasts of the Indian Ocean region.
7000 tickets/min will be the booking speed of IRCTC website
The Centre for Railway Information System is developing ‘next generation’ e-ticketing system for IRCTC’s website which will have an efficiency to book 7200 tickets e-tickets per minute. It will render the website to perform faster and hassle free access even at peak time and have high availability and business continuity, scalability to meet the needs of future growth and security to prevent frauds and unauthorized access.
‘Mars One’: 8,000 Indians register for one-way trip to the Red Planet
So far 8,107 Indians have registered for the one-way trip to Mars and to live on the red planet, as ‘Mars One’ project is planning to set up a colony there in the next 10 years. A not-for-profit initiative, ‘Mars One’, intends to establish a permanent human settlement on Mars in 2023 and is signing up those inclined to fly there. India has fourth highest number of participants among other nations of the world. The top 10 nations to register are the USA (37,852), China (13,124),Brazil (8,686), India (8,107), Russia (7,138), Britain (6,999), Mexico(6,771), Canada (6,593), Spain (3,621) and Philippines (3,516).
RBI permits premature encashment of 8% Savings (Taxable) Bonds
As per a atetment released by the Reserve Bank of India, individual investors who are 60 years are allowed to avail premature encashment of 8% Savings (Taxable) Bonds. This facility is available after a minimum lock-in period of 3 years from the date of issue. Those desiring to avail of the facility will have to submit documentary evidence in support of his/her date of birth to satisfaction of the agency bank.
Saudi Arabia makes domestic violence a criminal offence
The cabinet of Saudi Arabia approved a new law that criminalizes domestic violence, usually targeting women and children. The Protection from Abuse law is meant for protecting people from all forms of abuse and providing them shelter as well as social, psychological, and medical help.
Source: www.gktoday.in
Telangana will be India’s 29th State
August 2nd, 2013
The UPA Coordination
Committee agreed for the division of the state of Andhra Pradesh. The Congress Working
Committee pronounced in a common resolution that Telangana will be the new state. The proposed Telangana structure: · · · The inclusion of two districts of Rayalaseema — Anantapur and Kurnool in Telangana has yet not been finalised. If over the next few months there are demands for their inclusion an appeal could be made to the GoM. The new State will have 10 districts, while the remaining Andhra and Rayalaseema regions will together constitute Seemandhra. Hyderabad would be the common capital for the two States for 10 years and by that time Seemandhra will have a new capital built with Central assistance.
Indian Grand Prix 2014 dropped
August 3rd, 2013
Formula One chief Bernie Ecclestone has dropped India from the 2014 as the racing calendar for the coming year has been modified. The race organizers Jaypee Sports International Ltd. stated that the India will hold the Grand Prix in March 2015.
India’s first DNA Forensic Laboratory established in Gurgaon
August 3rd, 2013
Global biotechnology company ‘Life Technologies’ has launched India’s first private DNA forensics laboratory which is expected to accelerate sampling process thereby reducing the burden on existing forensic laboratories. The technology based on DNA testing has widely been accepted as the most effective crime fighting tool among law enforcement agencies for a variety of applications, including assaults, missing persons and disaster victim identification.
Benefits of the DNA Forensic Lab:
· · ·
The lab will reduce the burden on existing forensic system and address the requirements of DNA database generation for unidentified dead bodies or other crime investigations.
It will facilitate a broad range of DNA testing including paternity testing, kinship testing, DNA profiling for database generation, and forensic DNA analysis. The lab will meet international standards for DNA testing.
SAFF U-16 football title: India defeats Nepal
August 3rd, 2013
India beat Nepal 1-0 to in the final match lift the South Asian Football Federation (SAFF) Under-16 Championships title played at the Dasharath Stadium in Nepal. India returned unbeaten in the biennial tournament.
SAFF U-16 Championship
Annual international football competition First edition: Nepal (August 2011) Contestants: National teams of the members of the South Asian Football Federation (SAFF) Member Associations: · · · · · · · · Bangladesh 1997 India 1997 Maldives 1997 Nepal 1997 Pakistan 1997 Sri Lanka 1997 Bhutan 2000 Afghanistan 2005
Bharat Mobile Scheme
August 3rd, 2013
The Union government is going ahead with Bharat Mobile Scheme to give mobile phones to 6 million families that live Below Poverty Line (BPL). The plan is being seen as similar to freebies like laptops and television sets distributed by several other regional.
What is the aim of Bharat Mobile Scheme?
As per the government, it is planning its Bharat Mobile Scheme with the aim to provide unconnected citizens access to benefits of welfare programmes. Besides communication, mobile is to act as a device identity of the members of a household for transfer of benefits of different government programmes. The phone number may act as the first level of authentication for the user and can be utilized to access information, including land records and details of payments made to a family. To get subsidies and other government benefits, people will still need the Aadhaar Unique Identification Number.
Who will be given the mobile phones under “Bharat Mobile Scheme” ?
As per DoT, every rural household that has at least one member who completed 100 days of work under the MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) in 2012 will be given a mobile phone.
How would the Bharat Mobile Scheme be implemented?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
To carry out the scheme operators will be selected through competitive biddings or nominated state-run operators. The operators will be responsible for providing the devices, accessories, connectivity as well as warranty for 3 years. The mobile phones will have customized embedded opening screens displaying details of the scheme and the allocated number will act as a level of authentication to provide access to health records, land records and payment transfers. The scheme will be accomplished in 3 years and follow lists of eligible citizens prepared by state governments. Women will be given preference to receive the mobile phones.
Political views against “Bharat Mobile Scheme”:
Many a political analysts view this scheme as a political gimmick to woo the voters ahead of the general elections in 2014, much like the various states giving out laptops and such.
Similar Antecedents to ”Bharat Mobile Scheme”
examinations.
Uttar Pradesh chief minister Akhilesh Yadav distributing laptops and tablet computers to students who pass class 12 In Tamil Nadu, local political parties have been known to promise laptops, food grinders and television sets apart from subsidized food grain as part of their election mandates.
Status of Teledensity in India
As per Telecom Regulatory Authority of India (TRAI) figures, India ended April with 867.02 million mobile connections. This included 345.85 million rural connections, a 40.59% rural teledensity.
ICC World Cup 2015 to be jointly hosted by Australia and New Zealand
August 3rd, 2013
Defending champion India will take on Pakistan in its opening match of the ICC cricket World Cup, 2015 on February 15, 2015 which is to be jointly hosted by Australia and New Zealand from February 14 to March 29, 2015. India has never lost to Pakistan in any of its five World Cup clashes so far.
CCEA to consider new definition of “Control” in FDI policy
August 3rd, 2013
The existing clause in the FDI policy states that a company owned and controlled by resident Indian citizens has the power to appoint majority of its directors in that company. Now the Cabinet Committee on Economic Affairs (CCEA) has decided to consider new definition for “control” in FDI policy.
Aim of the new Definition of “control” in FDI policy:
· · ·
To provide better mechanism for calculating direct and indirect investment in a company. It will provide control in the management by virtue of shareholding or management right or shareholder agreement or
The new definition will include the right to appoint majority of directors. voting agreement.
The CCEA may also look into revising norms related to sourcing from small industries and investment in back-end by multibrand retailers. There will be no change in 30% sourcing limit from small industries and small industries will be defined as those having a total investment in plant and machinery not exceeding $2 million. At present this limit stands at $1 million. The small industry status will be valid for only 3 years after the breach of the $2-million investment limit.
BrahMos receives orders worth Rs 25,000 crore
August 3rd, 2013
Indo-Russian (49.5 % stake) joint venture, BrahMos Aerospace developed the world’s first supersonic cruise missile and has already bagged orders worth Rs 25,000 crore from the Indian defence forces. The deliveries to the Indian Army and Navy have started and the joint venture will begin deliveries of a slightly modified version to the Indian Air Force from 2015.
Export opportunities and issues with BrahMos:
The 290-km-range BrahMos having multiple platforms to launch and its low cost has also attracted the world. There is lot of export opportunity with about 14 countries showing interest. However, there are issues like the country’s security interests and what model (of the missile) that can be exported. The production order for BrahMos would rise from $7 billion to $10 billion by 2015.
Upcoming Modified version of BahMos:
The slight modification of the version of the missile is being done to suit the needs of the Indian Air Force. It is being fitted to the Air Force’s deep-strike Sukoi aircraft. In the mid of 2014, the live flight trials will be done and it will be ready for induction with the Air Force by 2015. The joint venture will later start work on new versions of the missile such as a hypersonic model.
Google India introduces “Start Searching India” campaign
August 3rd, 2013
Google India introduced ‘Start Searching India’ campaign to help internet users get the most out of the web with its search tool. Objective of “Start Searching India”: To help Indian users save time, by showing how they can get instant and to the point answers to their most common queries. According to Google e-governance is doing well in Madhya Pradesh with mponline.comand vyapam.com figuring in the top five web searches.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Government agrees to share classified hydrological data at a cost
August 3rd, 2013
The government has decided to share classified hydrological data at a cost only if the user is able to convince a panel about the requirement. The classified data can be availed by both Indian and foreign users by applying for it.
Why the government has agreed to share hydrological data?
·
There has been increased demand by the community that statistics collected using public funds should be made more readily available to all for facilitating rational debate, better decision making and in meeting society’s needs.
As per Hydro-meteorological Data Dissemination Policy 2013: · · · The classified data will be released for a specific purpose or study and will be non-transferable. There is a ban on reproduction of the classified data in any report or publication or detailed project report. Only result of analysis and inferences drawn thereof should be published.
How to get access to hydrological data? Those who want to use the data will have to approach a designated chief engineer of the Central Water Commission (CWC) with a secrecy undertaking. The official would first verify the authenticity of the user, the purpose for which the data has been requested and the minimum amount of data required for the purpose. He will forward the request along with his recommendations to theClassified Data Release Committee which will take a final call on the issue. Indian commercial and foreign users will be provided the classified hydro data at a cost of Rs 75,000 per site, per annum while the Indian non-commercial users will be provided with the information free of cost.
India divided into 3 regions regarding data dissemination:
1. 2. 3. Region-II: Ganga-Brahmaputra-Meghna basin
Region-I: Indus basin and other rivers and their tributaries discharging into Pakistan and other rivers and their tributaries discharging into Bangladesh/Myanmar Region-III: Remaining other rivers and their tributaries.
According to the policy, while the data of Region-I and II are classified, the data of Region-III is unclassified. The reservoir water level, live storage position, water quality, groundwater and meteorological data for all regions are also unclassified.
Mechanism behind brains ability to pay attention unveiled
August 3rd, 2013
Researchers from Dartmouth’s Geisel School of Medicine and the University of California Davis have decoded the cellular mechanisms behind human brain’s ability to pay attention to relevant information while ignoring distractions. Despite much study of attention in the brain, the cellular mechanisms responsible for the effects of attention have remained a mystery until now.
What has been revealed by the study by Dartmouth’s Geisel School of Medicine and the University of California Davis?
Researchers studied communications between synaptically connected neurons under conditions where subjects shifted their attention toward or away from visual stimuli that activated the recorded neurons, sharpen the precision of these signals, and selectively boost the transmission of attention-grabbing information while reducing the level of noisy or attention-disrupting information. In this study, scientist found a new mechanism by which attention shapes perception by selectively altering presynaptic weights to highlight sensory features among all the noisy sensory input.
How would the findings by by Dartmouth’s Geisel School of Medicine and the University of California Davis help?
or disease, possibly leading to improved screening and new treatments.
Besides expanding our understanding of brain, this study would help people with attention deficits resulting from brain injury
RBI lowers GDP growth to 5.7%
August 3rd, 2013
The GDP growth for the current fiscal has been fixed lower by the Reserve Bank of India’s professional forecaster’s survey. From the earlier estimation of 6% it has now been fixed as 5.7%.
Nationwide survey shows 44 top Indian cities below global median of doctors
August 3rd, 2013
The IMS Health Physician and Chemist survey on the state of healthcare in the country disclosed that 44 of the top 120 Indian (metro and non-metro) cities are below the global median of 1.2 doctors per 1000 population, while 76 cities are above this benchmark. The survey points out that there is an alarmingly low doctor density in rural areas. As per IMS Health Physician and Chemist survey:
Amongst the metro cities, the density of doctors to 1,000 population is more than double compared to the national average of 0.65. Delhi has the highest density at 2.05 doctors due to the fact that it has the highest numbers of doctors in India(33,5000). · Mumbai has one of the lowest density of doctors, 1.52 per 1,000 population, due to the fact that it’s the most populous city.
Amongst states, Haryana has the highest doctor density. · Some cities are over-served by the healthcare system like cities of North India account for 31% of doctors in the country, but only 28% of the country’s population lives there.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· · · · As compared to this, east and south India have a considerably lower density of GPs (non-MBBS) compared to the Indian average. When compared across the chemist population similar unevenness was found. Around 42% of chemists in India are concentrated in the top nine most populated cities, and 29% of chemist sales are performed without any prescription. 37% of chemist outlets are attached to doctor clinics, polyclinics, hospital facilities, and nursing homes.
Bhim Sain Bassi is the new Delhi Police Commissioner
August 3rd, 2013
Bhim Sain Bassi, the 1977-batch IPS officer of AGMU (Arunachal Pradesh-Goa-Mizoram-Union Territories) cadre has taken over the charge as the 20th DelhiPolice Commissioner as he succeeded Neeraj Kumar, the outgoing Delhi Police Chief. Bassi will hold the office till February 2016. He was conferred the President’s Police Medal for distinguished service and the Police Medal for meritorious service.
Researchers develop CNT-Cu (Carbon Nanotubes and Copper) material using carbon nanotubes for next-gen conductors
August 3rd, 2013
Researchers from the National Institute of Advanced IndustrialScience and Technology (AIST), Japan, have developed a new material called CNT-Cu (Carbon Nanotubes and Copper) which makes possible lighter conductors that can carry larger currents. Researchers, led by Indian chemist Dr. Subramaniam Chandramouli, have created this material by embedding carbon nanotubes in copper. It resulted into a new material “CNT-Cu” with boosted ampacity to a massive 10,000%, with an electrical conductivity comparable to that of copper.
What is Ampacity?
Ampacity is the maximum amount of current a conductor can carry before losing its electrical properties. The larger the ampacity the better is the performance.
Why do we need materials with high ampacity?
A material with higher ampacity and which is simultaneously conductive is required to withstand, handle and transport the increasing current densities of modern electronics.
What is special with CNT-Cu (Carbon Nanotubes and Copper) ?
CNT-Cu consists of 45% CNTs by volume, and is less dense than a pure copper conductor by 42%. An advantage of the material is that it reduces the amount of copper required and provides 100 times higher performance.
How CNT-Cu (Carbon Nanotubes and Copper) is better than copper?
CNT-Cu conductors has an edge over copper conductors in a way that the CNT-Cu achieves higher ampacity by suppressing electromigration that occurs in copper wires, where electrons are scattered off their path by copper atoms. As electrons move inside the conductor, they are often scattered by atoms in their path. As the current density increases, scattering also increases until, at a threshold called the conductor’s rating, the material can no longer conduct the electrons, resulting in electro-migration. In case of CNT-Cu, the negatively charged particles are channelled to move through a continuous mesh-like network formed by the nanotubes, averting scattering.
India, China play key role to break potash cartel
August 3rd, 2013
India and China together played a significant role in busting a giant Russia-Belarus potash cartel. This move will benefit the importers of potash and ultimately the cultivators as it is likely to bring down its prices significantly.
How did India and China bring down the Russia-Belarus potash cartel?
The giant Belarusian Potash Company (BPC) venture, a cartel of Russia’s Uralkali and Belarus Belaruskali, accounted for 40% of global potash sales. The BPC had exclusive right to export Belarusian potash. Due to a significant control over the potash market, the cartel used to keep the prices higher by reducing the supplies in the event of fall in demands. Both the Russian and Belarus potash producers are now running at about 60% capacity utilisation. In December 2012, the exclusive right of BPC was cancelled through a decree signed by Belarusian President Alexander Lukashenka. Following this move, the cartel collapsed after the Russian partner walked out of the marketing venture. It was Indian and Chinese potash importers that prevailed upon the Belarus leader to sign the fateful degree. The Indian and Chinese importers convinced Mr. Lukashenka that Belarus could earn more if it marketed its potash on its own, rather than through the joint arrangement with Russians. Potash exports in Belarus contribute 6-10% to budget revenues, and Mr. Lukashenka wanted to increase the share at a time when the Belarus is struggling in deep crisis.
How would the busting of Belarusian Potash Company (BPC) venture help?
The breaking of Russia-Belarus potash cartel is likely to push the Uralkali to switch to volume-over-price strategy, which could lead to a 25% drop in world prices. It is expected that the potash price will fall below $300 a tonne after the change in company’s trading policy. The price now stands at about $400 a tonne. At the same time, India and China, the two world’s largest importers of potash, stand to reap benefits from the price fall.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Union Govt. launches National Teeka Express
August 3rd, 2013
The National Teeka Express was launched by Union Ministry of Health & Family Welfare. It has been launched to protect children from life-threatening childhood diseases.
What is the key motive behind National Teeka Express?
Under Routine Immunization Programme, ANMs collect vaccines from storage point (cold chain point) and transport them to session sites, i.e. either Sub-centre or Anganwari centre for carrying out vaccination. Govt of India provides support for distribution of vaccine from last storage point to outreach immunization session sites at Sub-centres/Anganwaris, known as Alternate Vaccine Delivery (AVD)under NRHM. However, gaps in the implementation of Alternate Vaccine Delivery in difficult areas with low access to healthcare services have been noticed. This gap may compromise the cold chain maintenance and possible loss of potency of vaccine. Improper storage could also lead to Adverse Events Following Immunization. This is the key reason behind of Teeka Express.
What programme is planned under ‘National Teeka Express’?
Govt. of India (GoI) has planned Teeka Express to be piloted in 69 high priority districts with difficult areas and low immunization coverage. For these districts, 1,850 vehicles are planned to be procured with GoI assistance. Designated vehicles under the brand name of ‘National Teeka Express’ will help in: · · · Distribution of the vaccines and complementary logistics from last cold chain point to immunization session sites. Ensure holding of sessions at the mobile vaccination centre. In order to reduce vaccine wastage and ensure better utilization of vaccines, including costly vaccines like Pentavalent vaccine ‘Teeka Express’ will be used with reverse cold chain to bring back the open and un-used vaccines for use in subsequent sessions. · · · Serve as a mobile healthcare delivery unit for the areas where there is no healthcare facility or health worker. Collect immunization related bio-medical waste for safe disposal at vaccine storage points. Collect the coverage and immunization performance reports of the session for compilation and preparation of report at PHC. The programme will be implemented in a Phased manner. In the first phase the 120 vehicles of “Teeka Express” are planned in 6 districts of 5 states namely Rajasthan – Alwar; Uttar Pradesh – Sharaswati; Haryana– Mewat; Jammu and Kashmir – Doda and Poonch and Madhya Pradesh – Tikamgarh.
Earth’s runaway heating easy to trigger than earlier believed
August 3rd, 2013
A study headed by Colin Goldblatt from the University of Victoria, Canadahas found that it may be possible for a planet to experience a runaway greenhouse effect even if it does not receive a higher amount of solar radiation that is considered necessary to trigger the event.
What is Runaway Greenhouse Effect and how it can impact Earth?
A runaway greenhouse effect is the uncontrolled heating up of a planet’s surface resulting in the rapid evaporation of its water bodies such as oceans, which get converted to steam and make the planet inhospitable.
What can cause Runaway Greenhouse Effect?
Runaway Greenhouse Effect is caused when the solar radiation absorbed by the planet exceeds the thermal radiation released by it. In ideal conditions, such as in the case of Earth, the absorption and radiation levels are balanced resulting in a temperate climate.
What did the Goldblatt’s study on Runaway Greenhouse Effect find?
like Earth receiving normal levels of solar radiation.
Dr. Goldblatt’s study has found that a runaway greenhouse effect can be triggered, under specific conditions, even on a planet As per this study, for any given planet (like Earth) there is a fixed upper limit of thermal radiation that helps balance the amount of solar radiation absorbed. The study, conducted using specific computer modeling techniques which have analyzed runaway greenhouse effects at different temperatures, has found that the threshold level for thermal radiation is lower than previously thought. Likewise, the solar radiation levels have been found to be higher than previous estimates. This lower level of thermal radiation can help cause a runaway greenhouse effect easily on Earth than believed earlier. The study compares the findings with planets such as Venus and says that Venus might have experienced a runaway greenhouse effect in the past and that “Earth’s future is analogous to Venus’s past”. But, it may happen only after a million years or more. It further adds that such an effect is unlikely to happen due to human-induced factors.
Semaandhra people to search for fourth capital in 60 years
August 3rd, 2013
In case the division of Andhra Pradesh goes through, the people of the newly created Andhra state, which will include the Rayalseema region, will have to search for their fourth capital city in the last 60 years. The creation of the new capital will cost government dearly as according to rough estimates, the government will have to spend a minimum of Rs. 3 lakh crore for creating and developing the State headquarters.
Which places have been the capital of Andhra in past?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· · · Till 1953: Madras was the capital of Telugu-speaking areas of Andhra and Rayalaseema under the integrated Madras Presidency. On October 1, 1953: The State of Andhra was constituted as per the recommendations of the States Reorganisation Commission and Kurnool (now in Rayalaseema) was declared its capital. On November 1, 1956: Hyderabad was declared the capital of the present Andhara Pradesh formed by the merger of State of Andhra and the State of Hyderabad (Telugu speaking areas under the Nizam rule). Now, with the declaration made for forming Telangana State, the Seemandhra people will have no choice but again to search for a new capital city and the names/cities doing rounds include Ongole, Guntur, Vijayawada and Visakhapatnam. As proposed, Hyderabad would be joint capital for Andhra Pradesh and Telangana for only 10 years and after that it would go to Telangana.
Telangana sparks more Statehood demands across the country
August 3rd, 2013
With the United Progressive Alliance (UPA) Coordination Committee giving nod to the divide Andhra Pradesh and create Telangana, demands for statehood from several regions of the country backed by political parties have re-emerged, and reluctant State governments are battling new fires.
From where are the demands of separate state coming in India?
· · · ·
The country is witnessing protests demanding creation of separate States from various regions which include: West Bengal: Gorkha Janmukti Morcha (GJM), fighting for a Gorkhaland state. Assam: Karbi Anglong state demands have resurfaced. The demand for Bodoland has also re-emerged. Uttar Pradesh: Previous government of UP under Mayawati had proposed splitting Uttar Pradesh into Purvanchal, Bundelkhand, Awadh Pradesh, and Paschim Pradesh, and this was ratified by the Assembly. Maharashtra: Creation of Vidarbha state is being supported by the BJP. The proposed state corresponds to the eastern 11 districts of the state of Maharashtra.
Govt. approves draft amendments to keep parties outside the purview of RTI Act
August 3rd, 2013
Draft amendments to the Right To Information Act (RTI) have been approved by the Union Cabinet in order to nullify an order of the Central Information Commission (CIC) bringing the 6 national political parties under the ambit of the Act. There is a consensus among almost all major political parties to the proposed amendments as they feel that the CIC has exceeded its jurisdiction by passing such an order.
What was the order passed by CIC regarding RTI Act?
Responding to the petitions by several RTI activists, the CIC had ruled that the national parties have to share details with RTI petitioners on issues related to their funding and the criteria on which they have selected candidates for fighting elections.
Why there is opposition to the CIC order?
As per the Communist Party of India (Marxist) on the CIC order which also echoes the sentiments of most of the parties on this issue, to apply the Right to Information Act and demand access to the internal deliberations of the party whether it be on policy matters, organisational decisions or selection of candidates will constitute a serious infringement of inner-party functioning, confidentiality of discussions and undermine the political party system itself. On the concerns of transparency of the funding and finances of political parties, laws already exists under which all political parties are required to submit their accounts to the Income Tax department and the Election Commission. Already under the RTI, the statement of accounts and the finances of the parties are accessible to anyone from the Election Commission.
Pacific Marshall Islands under threat of climate catastrophe
August 3rd, 2013
The Marshall Islands has sought support to ward-off a future Pacific “climate catastrophe” that, it says, will expunge it from the map without critical action on global warming. The government of the Marshall Island has called for decisive action on climate change and has insisted US Secretary of State John Kerry to attend the 16member Pacific Islands Forum to be hosted by Australia in September 2013 where a major climate declaration is likely to be made. Marshall Island seeks to present Majuro Declaration to the United Nations General Assembly to help renew global efforts on emissions reduction as the Pacific region battles rising seas and growing numbers of so-called climate refugees. The tiny Pacific atoll of 55,000 people, which is located at an average of just two metres above sea level, was already feeling the heat of global warming with an unprecedented seven-month drought in the north and a devastating king tide earlier this year triggering disaster declarations. The Marshalls government was already ferrying food and drinking water to 13 outer island communities due to drought-linked shortages that were threatening the export of copra, the dried-out flesh of coconuts from which oil is extracted, which underpinned its economy. The island is also facing immigration as climate refugees from neighbouring Kiribati and Tuvalu are taking refuge in the island. The government fears a two-metre sea level rise predicted by the World Bankbefore the end of the century.
Where are the Marshall Islands?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The Marshall Islands, officially the Republic of the Marshall Islands, is an island country located in the northern Pacific Ocean. Geographically, the country is part of the larger island group of Micronesia, with the population of 68,480 people spread out over 34 low-lying coral atolls, comprising 1,156 individual islands and islets. The islands share maritime boundaries with the Federated States of Micronesia to the west, Wake Island to the north, Kiribati to the south-east, and Nauru to the south. The most populous atoll is Majuro, which also acts as the capital.
CCEA approves 10% stake sell of IOC
August 3rd, 2013
The Cabinet Committee on Economic Affairs (CCEA) approved the proposal for sale of 10% of government stake in country’s largest refiner Indian Oil Corporation (IOC), which is likely to generate around Rs.3,840 crore to the exchequer. The selling will be carried out through the offer for sale route. Currently, the government controls 78.92% stake in IOC. IOC has a market capitalisation of Rs.54,519 crore. It posted a net profit of Rs.5,005 crore in 2012-13, up from Rs.3,954 crore in the 2012. The government has set the disinvestment target of Rs.40,000 crore through the stake sale of public sector undertakings. So far, it has fetched Rs.929 crore through stake sale in MMTC, Hindustan Copper and National Fertiliser.
India to launch indigenous Aircraft Carrier project
August 4th, 2013
India will launch its biggest ever Indigenous Aircraft Carrier (IAC)project, in terms of size and complexity of design, on August 12 at Kochi. Indigenous Aircraft Carrier (IAC) project: · It will be India’s biggest Indigenous Aircraft Carrier warship with a displacement of 40,000-tonne.
The project will render India to join the select club of nations like the U.S., France, Russia and the U.K., who are capable of designing and building 40,000-tonne aircraft carriers. · · · · · Being built by the Cochin Shipyard Limited (CSL) It has a length of 260 metres and a maximum breadth of 60 metres. Propelled by two shafts to attain speeds in excess of 28 knots. Two take off runways and a landing strip with three arrester wires. Very high degree of automation for machinery operation, navigation and survivability.
With the launch of the project, the warship will be fitted withLong Range Surface to Air Missile (LR SAM) system with multifunction radar and Close-in Weapon System (CIWS), MiG 29K fighter jets, the naval version of Light Combat Aircraft (LCA), helicopters, early air warning radar and direction finding systems. · After extensive sea trials in 2016, IAC will be commissioned by 2018, the time when Viraat who is currently serving as India’s aircraft carrier, would have clocked the time for its decommissioning.
RBI’s cash-tightening measures to stay until Forex market stabilizes: Subbarao
August 4th, 2013
RBI Governor D Subbarao has defended the central bank’s stance on choosing inflation over growth, saying that when the “inflation threshold limit is crossed, it becomes difficult to make a trade-off.” He explained that there is a threshold level of inflation. If the inflation is below that level, then RBI can make that trade-off. But if it isn’t, then it can’t afford to do the same as inflation hurts the poor section of the country the most and for this reason some sacrifice of growth is inevitable to curb inflation. He said that this sacrifice in growth is only for the short-term. In the long-term, curbing inflation will be supportive of growth. He refused to give any time-frame of the current cash-tightening measures taken by the central bank and indicated that these measures will stay until volatility in the foreign exchange market is curbed.
CCEA approves dilution of safeguards for FDI in multi-brand retail
August 4th, 2013
The Cabinet Committee on Economic Affairs (CCEA) has given its nod for the “dilution” of certain safeguards including relaxing the 30% sourcing norm and doing away with the mandatory 50% condition for backend infrastructure investment which were approved by Parliament while allowing 49% Foreign Direct Investment (FDI) in multibrand retail announced in 2012. Though the changes were strongly opposed by theMinistry of Micro, Small and Medium Enterprises (MSME) but they were ignored by the CCEA while approving the new norms seeking to attract much needed FDI investments by global retail chains in Multibrand Retail Trade (MBRT).
What are the changes in the FDI in multibrand approved by the CCEA?
As per the CCEA: · · The norm of 30% mandatory sourcing from small scale industries clause has been waived off. Under the new policy, medium scale industries with total investment not exceeding $2 million would also be made eligible for sourcing of manufactured/processed to products. This requirement would be reckoned only at the time of first engagement with the retailer and such industry shall continue to qualify for this purpose even if it outgrows the investment of $2 million during the course of its relationship with the said retailer. · The number of cities to be covered under the MBRT policy has also been increased by amending the clause of permitting cities or States with less than 10 lakh population also to open front end stores with the permission of the States or Union Territories.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· The clause that makes it mandatory for retail companies to invest at least 50% of total FDI brought in the backend infrastructure has also been diluted. Under the new policy, the 50% of total FDI investment would only apply to the first tranche of $100 million to be invested in backend infrastructure within 3 years. · Hikes in FDI caps in many sectors — from 74 % to 100 % in the telecom sector, from 26% to 49% in the insurance sector- have been approved.
The Cabinet Committee on Security has been allowed to go beyond 26% in defence on a case-to-case basis. It also raised sectoral caps and altered the approval route in petroleum and natural gas, single-brand retail, power and commodity exchanges in certain other sectors.
Sugathakumari conferred with Saraswati Samman 2013
August 6th, 2013
Noted Malayalam poetess Sugathakumari has been conferred with the prestigious Saraswati Samman 2012 for Manalezhuthu (the Writings on the Sand), a collection of poems in Malayalam.
About Saraswati Samman Award
Saraswati Samman Award was instituted by KK Birla Foundation in 1991 to honor outstanding literary work in any Indian language which is the part of Eighth Schedule of the Constitution. The Award is recognized as the most prestigious and the highest literary honor in the country. The award carries cash prize of 10 lakh Rupees, a plaque as well as a citation. Note: Ismat Chughtai was the first person to receive Saraswati Samman for his work in Urdu Literature.
France to reduce Rafale order, programme depends upon Indian defense deal
August 6th, 2013
France government has decided to cut back its orders for Rafale fighter jets from the current 11 per year to just 26 over the next six years. The move is likely to de-stabilize the entire Rafale programme unless Dassault Aviation is able to ink the India contract for the sale of 126 fighters for over €10 billion.
How the French decision to reduce the order can impact the Rafael programme?
France, in its new Defence Review, known in French as the Draft Military Programme (LPM),for French forces from 2014 to 2019, has announced to make savings particularly through a Reduction in Force (RIF) exercise, through the sale of immovable assets belonging to the country’s armed services and by limiting its orders for the Rafale. Earlier, Dassault Aviation, who is running the Rafael programme, had obtained the purchase by the military of 11 jets a year from the French government. But now the government has decided to cut back the order to 26 fighters in next six years creating a shortfall of €4 billion for Dassault. Now, the position is such that Dassault Aviation should count only on exports to support the production of the multirole combat aircraft. Dassault Aviation will have to sell some 40 planes to France’s commercial partners if it is to juggle production costs, the army’s requirements and the minimum number of aircraft it must build to maintain the commercial validity of the Rafale programme. However, the French government is still optimistic that the planes would be sold abroad. India is yet to sign the order for the purchase of 126 fighters for over €10 billion and beyond October 2013, with elections looming large on the horizon, it is difficult to think of a quick signature on the biggest defence tender ever floated by India.
CCEA nod to create Special National Investment Fund (SNIF)
August 6th, 2013
The Cabinet Committee on Economic Affairs (CCEA) has approved a mechanism to bring down the government shareholding in its six sick companies to the required 90% or less. As per CCEA decision, a Special National Investment Fund will be created to transfer shares of these companies — HMT, Scooters India, Hindustan Photo Films Manufacturing Co, ITI, Andrew Yule & Co and Fertilizers & Chemicals (Travancore) Ltd.
What will Special National Investment Fund do?
The government has decided to sell the 90% of less of the equities it holds in the above mentioned six sick companies. As per the SEBI’s minimum public holding norms, all government-owned units will have to have at least 10% of public holding. The number of shares required to make the six companies compliant with the minimum public share holding norm will be transferred to the Special National Investment Fund out of government share holding on an irrevocable basis, without any consideration (meaning, money changing hands). The fund will be managed by independent professional managers. It will sell the transferred shares within 5 years. The funds realized from the sale would be used for social sector schemes of the government.
CCEA gives nod to IIT-H’s project with Japan
August 6th, 2013
The
Cabinet
Committee
on
Economic
Affairs
has
approved
the ‘collaboration
of
IIT-
Hyderabad andJapan’- a joint project which aims at value-addition for the institute, along with an academic and industry interface between the institute and Japan. The project will be carried out via an Official Development Assistance (ODA) loan from the Japanese government and the Union HRD Ministry. Project cost: The project cost of Rs. 1,776.50 crore will be met through the ODA loan of Rs.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
1,501.72 crore, while the balance of Rs. 274.77 crore will be endured by grants from the HRD Ministry over a period of four years between 2013—14 and 2016—17.
How would the ‘Collaboration of IIT-Hyderabad and Japan’ project help?
The project would add value through collaborative interactions between academics and with the industry of Japan and by exchange of students and faculty. This will enhance cooperation between the two countries in the field of science and technology and human resource development. The project would also help create of a number of basic infrastructurefacilities and faster scaling up of the IIT with benefits for the Indianeconomy.
Health Ministry revokes Pioglitazone suspension
August 6th, 2013
As per a notification issued by the Union HealthMinistry, the suspension imposed on the diabetes drug Pioglitazone and all its combinations has been repealed.
Why Pioglitazone was banned earlier?
Under the Drugs and Cosmetic Act 30-B, sale of any drug, the use of which is prohibited in the country of origin, is banned in India until clinical data substantiate that it is risk free. There are several health risks involved with Pioglitazone. Though it is generally used in against type 2 diabetes and hyperglycemia, there has been higher occurrence of fractures hands and feet in female diabetics given this drug and is also associated with bladder cancer and congestive heart failure as found in some Western studies.
What are the new guidelines for the sale of Pioglitazone?
The Drug Technical Advisory Board (DTAB) has recommended that the drug may be allowed to be sold and consumed in the country, with sufficient caution. It suggested that the manufacture and sale of Pioglitazone may be allowed, provided the manufacturer clearly mentions on the package insert and promotional literature of the drug that Pioglitazone may not be used as a first line of therapy for diabetes. It has also recommended that the manufacturers carry a box warning, clearly mentioning the risks/side effects of the drug in bold red letters on the package. It has also asked the doctors to make sure that the drug is not used in persons with active bladder cancer or a history of bladder cancer in the family. Doctors should review the safety and efficacy of the drug after three to six months of prescription and the drug maybe continued only if the patient seems to be deriving any benefit.
EM-DAT data: Surge in natural disasters linked to population density
August 6th, 2013
As per a recent study report released by the Asian Development Bank (ADB), an increase in people living in perilous conditions, poverty, environmental degradation and climate change have been rendering India vulnerable to intense disasters. These conditions that lead to precipitation extremes are giving a rise to water-related catastrophes. As per EM-DAT data, India confronts the second most number of intense floods in the world after China, according to EM-DAT data. The study titled Climate-Related Disasters in Asia and the Pacific , shows an association between the rise in floods and storms and more precipitation and dryness linked to rising green house gases and temperatures. The EM-DAT data shows Bangladesh, China, India, Myanmar, thePhilippines, and Vietnam at exceptional risk.
Key findings of “Climate-Related Disasters in Asia and the Pacific” study:
Population density is a key factor that drives hydro-meteorological natural disasters (floods, storms), both statistically and 1% increase in population density is associated with a 1.2% to 1.8% increase in the frequency of intense hydrometeorological disasters. It implies that densely populated countries like India are more likely to incur over 100 deaths or have over 1,000 people affected when a storm or flood hits.
economically. · ·
High population vulnerability and deterioration climate trends, related to natural disasters in Asia and the Pacific, loom over the region’s economic success and affect its strategic importance in the global economy. In Asia and the Pacific, the population continues to grow relative to the global total, and its economy helps drive global economic growth. Still, global manufacturing has moved to some very hazard-prone and ill-prepared areas. For eg: The Thailandfloods of 2011 and their huge impact on the supply of computer hard drives and auto parts. · The poorer populations are more vulnerable to intense natural disasters.
Less poor economies — those with less than 30% of the population living below $1.25 Purchasing Power Parity (PPP) a day — are less likely to experience a lower frequency of intense natural disasters than economies with higher poverty incidence.
What is Emergency Events Database EM-DAT?
Emergency Events Database EM-DAT is a global database on natural and technological disasters that contains essential core data on the occurrence and effects of more than 17,000 disasters in the world from 1900 to present. Since 1988, EM-DAT is maintained by the Centre for Research on the Epidemiology of Disasters (CRED) at the School of Public Health of the Université catholique de Louvain located in Brussels,Belgium.
Objective of EM-DAT:
To assist humanitarian action at both national and international levels; to rationalize decision-making for disaster preparedness; and to provide an objective basis for vulnerability assessment and priority setting.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Rail Tariff Authority gets Cabinet’s approval
August 6th, 2013
Union Cabinet has given nod to the set up Rail Tariff Authority (RTA) in order to improve the financial situation of the Railways forthwith without any delay. The RTA has been mandated to completely eliminate the subsidy component and cross-subsidy of passenger fares from surplus generated from freight business completely within 10 years. To set up RTA, the Cabinet has directed the Law Ministry to initiate the process through an executive order. This will save time than going by the Parliament approval route which is a long drawn process that needs more than six months. By setting up the authority through an executive order, the government would obtain the first ruling from the authority for raising passenger fares. It would not only be speed up the process of decision-making, but rake in more revenue in the process.
What is the urgency to raise passenger fares?
The net loss in the passenger segment has been rising at a steep rate of 17.6% and has mounted to a whopping Rs. 22,507 crore in 2011-12. With the Railways finding it difficult to meet even their operating expenses, there has been little or no progress on the development and growth front. To make the Railways self- sufficient, the Authority’s domain is to generate surplus funds for creating and maintaining rail infrastructure on a long term basis.
Government considering giving TRAI authority to impose penalty
August 6th, 2013
As per Telecom Ministry, the government is thinking taking away penalizing powers, which are used to punish service providers for not complying with rules and regulations, from the Department of Telecom (DoT), and giving these to Telecom Regulatory Authority of India(TRAI).
Why the government intends to transfer the penalizing powers to TRAI?
As per the government, the Department of Telecom (DoT) is imposing excessive penalties on the telecom operators who fail to adhere to rules. As per industry estimates, telecom service providers are facing penalty to the tune of Rs. 6,500 crore. Of this, Rs. 1,900 crore has been imposed with regards to EMF (radiation) issues. The government intends to bring in proportionality so that penalty levied in some way is related to seriousness of the violation of the licence condition. Therefore, it is mulling to transfer penalizing powers from DoT to TRAI. Currently, while TRAI has the power to regulate and monitor rates, quality and other parameters of telecom and broadcasting services to protect consumer interest, it does not have the power to impose penalties on service providers for failing to adhere to rules.
Agni V missile expected to be operational by 2015
August 6th, 2013
According to Tessy Thomas, director, Agni Missile Project, DefenceResearch and Development Organisation (DRDO), two or three more successful test firings, the Agni V missile is likely to be operational by 2015.
Salient features of Agni V
· · · · · ·
Intercontinental ballistic missile developed by the Defence Research and Development Organisation (DRDO) of India. Part of the Agni series of missiles, one of the missile systems under the original Integrated Guided Missile Development Programme. Range of 5,500–5,800 km. It will allow India to strike targets across Asia and into Europe. A 3 stage solid fuelled missile with composite motor casing in the second and third stage. Carry MIRV (Multiple Independently Targetable Re-entry Vehicles) payloads. A single MIRV equipped missile can deliver multiple warheads at different targets. o o Incorporate advanced technologies involving ring laser gyroscope and accelerometer for navigation and guidance. First successfully test-fired by DRDO from Wheeler Island off the coast of Orissa on April 19, 2012. With this, India joined an “elite nuclear club” that also included China, Russia, France, the US,the UK and possibly Israel.
India win over Zimbabwe is country’s first-ever ODI Series whitewash on foreign soil
August 6th, 2013
History was created when India thrashed Zimbabwe in the final match of the five-match ODI series played in Zimbabwe. The victory marked India’s first-ever five-match ODI series whitewash on foreign soil. The Indian team, under the captaincy Virat Kohli, achieved the feat when they pipped Zimbabwe by 7 wickets in the fifth and final one-dayer at Bulawayo.
Cyber criminals stealing information during tax filing rush: McAfee
August 6th, 2013
Cyber security firm McAfee has warned online tax filers to be cautious of the phishing scams and fake ads which are being perpetrated by cyber criminals to make the most of income tax e-filing rush to to steal confidential financial data of users. Cyber criminals try to take advantage of the rush during the last days of e-filing as tax payers try to meet the deadline set by the I-T department. The Central Board of Direct Taxes, the administrative authority of the Income-Tax Department, has extended the deadline for filing returns, both manual and electronic, to August 5, 2013.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
As per McAfee, cyber criminals use phishing scams where an e-mail is sent to a number of people, saying income-tax refund is available, and once it is clicked, the user is directed to a website similar to the one owned by Income-Tax Department. Consumers are then directed to disclose personal financial details, which help scammers empty their credit card or bank account. These criminals also use fake tax filing ads that claim to help you to file taxes and direct you to fraudulent websites that steals your financial data. McAfee has asked people filing tax returns online not to open any suspicious websites or emails from an untrustworthy source. The Income-Tax Department does not request personal information such as PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mails.
Rajeev Rishi appointed as Chairman and MD of Central Bank of India
August 6th, 2013
The Central Government has appointed Rajeev Rishi, Executive Director, Indian Bank has been appointed as the Chairman and Managing Director, Central Bank of India. He will have a tenure of five years from the date of taking over charge. Prior to his appointment as Chairman & Managing Director of Central Bank of India Shri Rishi was the Executive Director of Indian Bank since October 2010.
Arundhati Bhattacharya is the new managing director of SBI
August 6th, 2013
The Govt. has appointment Arundhati Bhattacharya has been appointed as the new managing director of the State Bank of India (SBI). Previously, Bhattacharya was the managing director of SBI Capital, the merchantbanking arm of the bank.Ms Arundhati Bhattacharya will be State Bank of India’s first woman managing director. The first woman MD of a Public sector bank in India was Ms Ranjana Kumar. The Government of India appointed Ms Ranjana Kumar as the Chairperson and managing Director of the Indian Bank, she became the first woman to become head of a public sector bank in India.
Amazon’s Jeffrey Bezos to buy Washington Post
August 8th, 2013
The Washington Post, an American daily newspaper, has announced its sale to Amazon founder and CEO Jeffrey P Bezos. Bezos has agreed to buy the newspaper assets of the Washington Post Company for $ 250 million. The decision to sell the assets was made following the decline in revenue and fall in the circulation of its copies. The Washington Post has been owned by the Graham family for 80 years. Currently, Donald E. Graham is the Chairman and Chief Executive of Washington Post.
World Bank & ADB to provide $ 400m to disaster-hit Uttarakhand
August 8th, 2013
The World Bank and the Asian Development Bank (ADB) will provide $ 400 million for reconstruction and rehabilitation in the disaster-hit areas inUttarakhand. The fund would be spent in works in sectors including the housing, tourism, irrigation, agriculture, education, and health sector. Of the total money received, $ 95 million would be spent in the construction of roads. Also, $ 20 million would be given to the five hydro-power projects that are funded by the ADB and have been damaged due to the recent flood-disaster.
China unveils first Giant Panda channel
August 8th, 2013
China Network Television has launched an internet channel ipanda.com dedicated to the conservation of Giant Panda. The website will show live 24-hour high-definition (HD) Internet broadcasts of the daily activities of the 80 endangered Pandas at the Chengdu Research Base of the Giant Panda Breeding in the southwest Sichuan Province which is China’s premier panda breeding facility. Documentaries and a 30-minute panda-themed programme will also be broadcast everyday on the siteipanda.com. Giant Pandas are one of the world’s most endangered species. About1,600 pandas live in the wild, mostly in the mountains of Sichuan, while more than 300 live in captivity.
HAL signs MoU with Transparency International India
August 8th, 2013
Hindustan
Aeronautics
Ltd.
(HAL) has the
inked coalitions
a
Memorandum
of to
Understanding promote
(MoU)
with fair
the and
Transparency International India (TII),
against corruption,
corruption-free,
transparent business practices in the company. TII will advise HAL and support it in implementing its integrity pact programme. HAL is the firstdefence public enterprise to sign the MoU.
About Transparency International
Transparency International (TI) is a non-governmental organization that monitors and publicizes corporate and political corruption in international development. It publishes an annual Corruption Perceptions Index, a comparative listing of corruption worldwide. The headquarters is located inBerlin, Germany. Note: Currently India ranks 94th on the CPI released in December 2012.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Researchers produce World’s first lab-grown beef burger
August 8th, 2013
Scientists from the Maastricht University in the Netherlands have produced the first lab-grown beef burger of the world which is being seen as a step towards food revolution. The burger was served to the volunteers in London.
What is so special about this Hamburger (World’s first lab-grown beef burger)?
The world’s first lab-grown beef burger, developed in the lab of Professor Mark Post of Maastricht University in the Netherlands, weighed 140g with production cost 250000 Euros or 330000 US dollar. The beef used in the burger was developed from the stem cells extracted from a living cow. As claimed by scientists, when mixed with breadcrumbs, egg powder and salt, for improving its taste; as well as coloured with red beetroot juice and saffron; it will taste very much like a usual burger.
How the beef used in the burger (World’s first lab-grown beef burger) was produced?
The beef used in the burger was developed by using the stem cells taken from a living cow. Stem cells, as we know, are the master cells with a unique capability to grow into multiple types of cells i.e. blood, tissue, muscle, etc. Scientists, then placed these cells in a nutritional medium to grow into small strands of meat. Thousands of these meat strands were used for making the burger.
Why there is so much excitement about the in-vitro development of beef-burger?
actually rearing any animal. The research has the following prospects: ·
Many view this development as a step towards food revolution as this success has the capability to produce meat without It can address the concerns of growing food demands due to increasing population.
It can also alleviate the pressure on environment as doing away with animal rearing for meat production would also reduce the carbon footprint and also lessen the pressure on land, water and other resources. (Cattles like pig, cow, chicken and buffaloes are known to produce methane which is also a Green House Gas). · A study found that the lab-grown beef makes use of 45% less energy than average global representative figure for farming cattle. Besides, it also produces 96% less greenhouse gas emissions and requires 99% less land as well.
What is PETA’s stance on growing meat in lab?
PETA, People for the Ethical Treatment of Animals, supports attempts to grow meat in labs because they say that will greatly diminish the amount of animal suffering. Donor animals are needed for the muscle cells, but taking those samples doesn’t hurt the animal. One sample can theoretically provide up to 20,000 tons of lab-made meat. Continue reading…
Raghuram Rajan appointed as the next RBI Governor
August 8th, 2013
Raghuram Govind Rajan (50), who is currently the Chief Economic Adviser to the Govt. of India, has been appointed as Governor of the Reserve Bank of India (RBI) for 3 years. He will take over from D. Subbarao who demits office on September 4, 2013. The appointment was approved by Prime Minister Manmohan Singh. Dr. Rajan, who is credited to have correctly predicted the 2008 financial crisis, is set to take over the helm of the central bank at a time when the economy is grappling with a multi-pronged crisis of high consumer price inflation, industrial slowdown, sharp depreciation of the rupee and a widening current account deficit.
Tension escalates between U.K.-Spain over Gibraltar
August 8th, 2013
There is a sudden spike in the Anglo-Spanish conflict over Gibraltar asSpain has threatened to impose border charges and close airspace which can turn into a form of economic blockade of the peninsula.
Where is Gibraltar?
Gibraltar, less than six square kilometres, is a limestone outcrop at the mouth of the Mediterranean. The Rock- as it is popularly known – is a British Overseas Territory, although Spain, which it borders, also claims sovereignty. The people who live there are British citizens but they run their own affairs under a chief minister.
How Gibraltar is governed?
Gibraltar is a self-governing territory in all matters – including taxation – except foreign policy and defence, which are in the hands of the UKgovernment.
Strategic Importance of Gibralatar:
It is strategically important as located at the mouth of the Mediterranean only 20km (12 miles) from the north coast of Africa. It has a NATO base, including a port and airstrip.
What is the UK-Spain-Gibraltar conflict?
The conflict over the sovereignty of Gibraltar is not new but has been for centuries. It is this conflict which has manifested itself in the form of a dispute over fishing rights. Both Spain and Gibraltar have claimed jurisdiction over the waters off the Rock, and both sides have complained about breach into what they claim are their waters. Both nations have also invoked environmental laws in a bid to strengthen their claims. The tension between the two sides escalated when Gibraltar – without prior notice- dropped concrete blocks into the bay to create an artificial reef to encourage sea life to flourish in what it sees as its marine reserve. Spain claimed that it has contravened its own environmental laws and damaged its fishing industry, because Spanish fishing nets were in danger of catching on the concrete reef blocks.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
What Spain has threatened to do?
Spain has imposed more rigorous border checks at the crossing point between Spain and Gibraltar which led to extremely long traffic queues. Spain is also contemplating introducing a 50 euro (£43) fee to cross the border, which is at Spain’s southern tip and has also threatened to close its airspace to flights heading to Gibraltar. The Spanish tax authorities can launch an investigation into property owned by around 6,000 Gibraltarians in neighboring parts of Spain and the law can be changed so that online gambling companies operating from Gibraltar have to use Spanish servers if they want to operate in Spain, thus coming under Madrid’s taxation regime. Spain can also stop concrete and other materials being brought in through the border for the building of the reef.
Is fishing the only issue annoying Spain?
No. Apart from fishing there are other issues too. There is considerable traffic between Spain and the Rock, including people who cross the border daily to live and work, but Madrid alleges that the border is being abused. Other problems include Cigarette smuggling and circumventing of Spanish residency taxes as Spain see it a corporate tax haven which allows companies and wealthy individuals to avoid paying millions.
Is this conflict over Gibraltar new?
No. The conflict has continued for centuries. First Spain fought Moorish invaders. Then it lost Gibraltar to an Anglo-Dutch force in 1704. The Spanish, despite formally ceding it to London in the 1713 Treaty of Utrecht, have wanted it back ever since. Under Franco, Spain cut Gibraltar off by sealing its frontier. In 1984 the Spanish and UK governments started negotiations, but the process eventually crumbled over Spain’s demands that the territory should revert to full Spanish sovereignty after 50 years of shared control. However, the border was reopened in 1985.
The Cordoba Agreement:
The Cordoba Agreement was signed in 2006 between the governments of Spain, the UK and Gibraltar. The pact included deals on issues like border crossings and access for flights. It also committed them to a tripartite forum for regular talks, but Madrid is not happy to abide by it.
Izumo, Japan’s biggest warship unveiled
August 8th, 2013
Japan has unveiled its biggest warship since World War II called Izumo.
About Izumo:
Flat top destroyer resembling a conventional aircraft carrier. Nearly 250 metres (820 feet) long flight deck which can carry up to 14 helicopters. Used particularly in anti-submarine warfare and border-area surveillance missions. It will boost Japan’s ability to transport personnel and supplies in response to large-scale natural disasters, like the devastating earthquake and tsunami in 2011.
August 9: International Day of the World’s Indigenous People observed
August 9th, 2013
The world observed the International Day of the World’s Indigenous People on August 9, 2013. The theme selected was “Indigenous Peoples Building Alliances”. The theme was aimed at emphasizing the importance of honouring arrangements between States, their citizens and indigenous peoples that were designed to recognize indigenous people’s rights to their lands and establish a framework for living in immediacy and entering into economic relationships.
How did the International Day of the World’s Indigenous People come into existence?
In 1994, the General Assembly of United Nations promulgated that the International Day of the World’s Indigenous People will be celebrated every year during the first International Decade of the World’s Indigenous People (1995 – 2004).
Recognized NABL labs to test mid day meals
August 11th, 2013
Recognized laboratories under the National Accreditation Board for Laboratories (NABL) will collect the samples to test the microbiological presence/absence of e-coli, chemical parameters such as moisture content, fats, proteins and calorific value of the mid day meals. The measure has come after the death of 23 children in a school in Chhapra in Bihar who died after consuming contaminated food served in the mid-day meal scheme.
How the mid day meals will be monitored?
Periodic reports and monitoring at the local level through the school monitoring committees as well as by the State government officials. · An independent monitoring through 41 monitoring institutes such as IIT Chennai, Visva Bharati, and the XLRI has also been ensured by the Centre.
The Joint Review Missions (JRM) visit States at regular intervals. Presently 7 JRMs have been conducted, and 13 more are planned. · Surprise visits will be made from time to time.
What are the steps taken by the government to improve the quality of mid day meal?
HRD and Tourism Ministries are working together on imparting training for cooks through Hotel Management Institutes and the Food Craft Institutes. A 10-day full time course will be organized which will impart knowledge in terms of the caloric and
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
nutritive values. The course will emphasize on the methods of cooking for retaining the nutritive value of cooking ingredients, issues of malnutrition and nutrition levels and the importance of regular washing of hands.
India may get lesson from China’s plans to curtail brain drain
August 11th, 2013
The government of China has taken an initiative to get back some of the country’s best and brightest minds. The brain drain problem was taking away top scientific talent of the country. The Communist Party of China’s (CPC) co-ordination groups stated that 87% of top specialists in science and engineering who went overseas had no plans to return.
Steps taken by the Coordination Groups of China to curb brain drain:
In 2010, the government launched a 10-year development plan to bring back 2,000 top Chinese specialists in the fields ofinformation technology, aerospace and biotechnology. The Ministry of Education has also set up a 600-million-Yuan fund for 20,000 returnees to carry out research in the sciences. The State run Chinese Academy of Sciences (CAS), a top research body, has put in place a programme offering two million Yuan to returnees for research. The CAS succeeded in bringing back 1,568 scientists in the ten years. · The government has also started reaching out to younger overseas Chinese students. It has launched summer camps funding as many as 30,000 Chinese residing in 55 countries to travel to China every year in an attempt to make them more familiar with their society.
These measures taken by China may hold some lesson for Indiawho is facing the same challenge of brain drain. As per UNDP estimates,India loses $2 billion a year because of the emigration of computer experts to the U.S. Indian students going abroad for their higher studies costs India a foreign exchange outflow of $10 billion annually.
Foreign Telecom vendors’ refusal to share design details delays TTSCC
August 12th, 2013
Foreign telecom equipment vendors have refused to share their design details with the India’s telecom equipment testing labTelecom Testing and Security Certification Centre (TTSCC) for it may conflict with their business interests. TTSCC was decided to be set up at the Indian Institute of Science (IISc), Bangalore by the Department of Telecom (DoT) keeping in view the security issues. Due to this refusal, the setting up of TTSCC which would have become fully operational by April 2013 is now delayed. The DoT was asked to start the first round of security audit beginning mid-2012, but now all this will be further delayed.
What does this Foreign Telecom vendors’ refusal to share design details mean to India?
This is a major debacle for the government’s initiative towards creating a ‘safe to connect’ telecom network in the country. In 2001, the Centre had asked the DoT to ensure that all telecom service providers (TSPs) should induct only ‘safe to connect’ telecom equipment in their network, besides ensuring annual security audit of all TSPs to create a telecominfrastructure sans bugs and ‘leakages’.
Rising concerns about foreign telecom equipment
The US and other western countries are more cautious while deploying foreign made telecom networks especially those being imported from Chinese equipment makers, Huawei and ZTE. The US also found security loopholes in products supplied by Huawei through testing procedures and has thus banned supplies from Huawei.
Who conducts the telecom equipment testing at present in India?
The testing of equipment in India is dependent on unreliable methods of self-certification by operators. The National Security Council had highlighted the fear of attacks on telecom networks and stealing of sensitive information and data.
RGGVY programme to be continued for rural electrification: Government
August 12th, 2013
In order to continue providing electricity to all rural households the government has decided to carry on with the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). The continuation of RGGVY in the current Plan period has been approved by the Cabinet Committee on Economic Affairs (CCEA).
Requirements to continue the Programme:
· over works.
Capital subsidy of Rs 35,447 crore will be needed to continue the programme, including Rs 12,849 crore towards run
Rs 23,397 crore would be met through Gross Budgetary Support for the 12th Plan period (2012-17) and the remaining Rs 12,050 crore would fall over to the 13th Plan. · · The programme will cover all remaining census villages and habitations with a population of above 100. Launched in April 2005 with the objective of providing electricity to all rural households. The programme seeks to provide free electricity connections to BPL (Below Poverty Line) households at the rate of Rs 3,000 per connection in villages and habitations with population of above 100.
About Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY):
·
The scheme was initially approved with capital subsidy of Rs 5,000 crore for the last two years of the 10th Plan period ending March 2007.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
It continued in 11th Plan with capital subsidy of Rs 28,000 crore. During 2011-12 an additional capital subsidy of Rs 6,000 crore was approved by the Planning Commission. · During the previous two Plan periods, 648 projects – entailing a total cost of Rs 42,060.44 crore – covering 1,12,795 un-electrified villages, 4,02,364 partially electrified villages and 275.69 lakh BPL households were sanctioned.
Robert Mugabe re-elected as Zimbabwe’s President
August 12th, 2013
Robert
Mugabe
has
been
re-elected
as Zimbabwe’s
President
for
next
five-year
term
amid
Zimbabwe’s Movement of Democratic Change (MDC)allegations of fraud in the elections. MDC has decided to challenge an election victory by President Robert Mugabe’s Zanu-PF party in the court. Western observers were kept out by Harare and independent domestic monitors have described the vote as deeply flawed by registration problems that may have disenfranchised up to a million people.
Hassan Rouhani is the new President of Iran
August 12th, 2013
Hassan Rouhani sworn as the new President of Iran in the ceremony held at the Iranian Parliament in Tehran. Rouhani, who will have 4-year tenure as President, is the 7th (different) President of Iran after the Islamic Revolution of 1979. He secured a little over 50% votes to win the election and succeeded Mahmoud Ahmadinejad.
Some facts about the election of the President in Iran:
The President of Iran is elected as per rules envisaged in the country’s Constitution. As per the Constitution of Iran, the President is elected by an absolute majority of votes polled by the voters. The President must be elected from among religious and political personalities. The President is elected for 4-year term by the direct vote of the people. His re-election for a successive term is allowed only once.
Chakde India: India wins historic bronze at Junior Women Hockey World Cup
August 12th, 2013
India’s junior women hockey team created a history by clinching country’s first ever bronze medal in the junior women hockey World Cup as they defeated England. The Indian girls beat England 3-2 in the bronze medal play-off to finish on the podium – their best-ever showing in the marquee event. Captain Ms Sushila Chanu held that the entire team was delighted to have made the country proud.
Parimarjan Negi regains Politiken Cup
August 12th, 2013
Grandmaster Parimarjan Negi (Born: February 9, 1993 (age 20))put up a brilliant performance to regain the Politiken Cup chess Title in Copenhagen,Denmark. Parimarjan had recently won the DCInternational Open in US and tied for the top place in the World Open. The youngest international Grandmaster in chess won the same tournament in 2009. This was Negi’s second title in the last three outings. Parimarjan Negi studies in the Amity International School and has won various tournaments there. Negi became the youngest Grandmaster inIndia on July 1, 2006 by drawing with Russian Grandmaster Ruslan Sherbakov and finished with six points from nine rounds of the Chelyabinsk Region Superfinal chess tournament in Satka.
Parimarjan Negi replaces Pendyala Harikrishna as India’s youngest ever Grand Master.
Intermixing of Population happened in India for 2,300 years
August 12th, 2013
As per the scientists from the Hyderabad based Centre for Cellular and Molecular Biology (CCMB) and Harvard Medical School, Indian population was derived from two major ancestral populations Ancestral North Indians (ANI) and Ancestral South Indians (ASI) which don’t have major genetic differences. The ANI-derived populations and ASI-derived populations mixed together to form the modern day population in the long time period of 2300 years. This admixing continued for an extended period until practice of endogamy became the norm. The extent of admixture increased among the groups including the isolated tribes like the Paliyar that live in Kodaikanal Hills and Bhil that are primarily located in Rajasthan. But some populations like the Vysya from Andhra Pradesh didn’t experience the mixing from neighbouring groups in India for around 3,000 years.
What is ANI and ASI population?
The ANI population is related to West Eurasians (people of Central Asia, the Middle East, the Caucasus and Europe) where as the ASI population is specifically related to the indigenous Andaman Islanders.
No significant difference between groups across the Indian population:
As per researchers, Indians as a whole do not have major genetic differences even though endogamy has been largely practiced for the last 1,900 years. The endogamy in the respective admixtured populations ensured that no further gene mixture happened between groups for the last 1,900 years and then later caste came and significantly reduced the chances of admixture and made it nearly zero.
August 12: International Youth Day
August 12th, 2013
International Youth Day was observed across the world on August 12, 2013
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Current Affairs – August 2013 from GKToday
The theme for 2013 was Youth Migration: Moving Development Forward. The theme concentrates on the issue of youth migration. International migrants comprise major number of Young people. In 2010, there were around 27 million international young migrants. Migration can often provide valuable opportunities and add to the development of communities and society but it can also pose risks and lead to unacceptable situations including discrimination and exploitation. The day was observed to raise awareness about the opportunities and risks associated with youth migration.
India’s launches indigenously built aircraft carrier INS Vikrant
August 14th, 2013
India launched its first indigenously built aircraft carrier INS Vikrant which was a remarkable moment in the $5 billion project that seeks to enhance the country’s power and curtail the rising influence ofChina. INS Vikrant will come into full service in 2018 which will make India the fifth nation tohave designed and built its own aircraft carrier going ahead of China to join an elite club that includes Britain, France, Russia and the United States.
INS Vikrant
Vikrant, which means “courageous” or “bold” in Hindi, is a 40,000-tonne vessel which will carry Russian built MiG-29 fighter jets and other light aircraft. · · Its hull design and some of its machinery is domestically made and most of its weaponry will be imported as well as its propulsion system which was sourced from GE in the United States. Its primary role will only be to defend the naval fleet and it will not be used for ground attacks. It will be positioned in the Indian Ocean region where the world’s commercial and economic interests conflate. In the next 4 years, the ship will be tested after fitting it with weaponry and machinery
It’s a defence carrier and will attack platforms that are coming to attack our naval fleet · ·
Under nutrition in women linked with their unequal status
August 14th, 2013
The unequal social status of women could play a significant role in the mysterious high under nutrition levels. India has higher than expected levels of stunting and under-weight among children and adults. It’s quite perplexing that children in India are shorter on average and even than poorer children in sub-Saharan Africa. But children’s poor growth is no surprise, given the enormous range of threats to early life health and net nutrition, sanitation and the disease environment, problematic feeding practices, and low social status of young women. Key observations of Experts:
Nobel laureate Amartya Sen focused on food availability and consumption and as per him food consumption alone does not explain the scale of India’s under-nutrition. Dean Spears, an economist, has shown that poor sanitation and open defecation in particular which can be accounted for a large part of the international variation in height, including that between India and sub-Saharan Africa. Diane Coffey an economist and a PhD candidate at the Office of Population Research at Princeton University, along with Reetika Khera of the IIT, Delhi has shown that the younger daughters-in-law in a rural joint family have shorter children on average event after controlling other possible factors. As per him, the difference in status between two daughters-in-law is small compared to other social hierarchies in Indian society, such as between men and women, and between high and low caste people. It is possible that these larger status differences also have important implications for Indian children’s health and well-being.
Research by Angus Deaton, Professor of Economics at Princeton University, has shown that Indian women’s nutrition is not improving at the same pace as men’s. He has found that Indian men’s heights are growing at nearly three times the rates of women and the gap is widening and genetic variations across and between countries are not important for height.
RBI to auction Cash Management Bills (CMBs) to control liquidity
August 14th, 2013
Taking further measures to control the liquidity in order to boost the position of rupee which has been on a decline for past some time, the RBI has decided to auction short-term Cash Management Bills (CMBs) for an amount of Rs. 22,000 crore every Monday. RBI will be selling Rs.11,000 crore each in two CMBs maturing in 35 and 34 days on Monday and Tuesday, respectively. The bills will mature on 17 September, 2013, when banking system liquidity gets strained on account of advance tax outflow. The auctions will be conducted using “Multiple Price Auction” method and the Cash Management Bills will have the generic character of Treasury Bills.
What are Cash Management Bills?
CMBs are short-term paper with the flexibility of fixing tenure according to the requirement of the government. The basic difference between a treasury bill and a CMB is that the former has fixed tenure of 30, 91, 182 and 364 days, while a CMB can be anything between seven days and one year. CMBs can be structured in such a way that they are redeemed at that time to infuse liquidity but treasury bills do not offer that flexibility.
Why the RBI is auctioning CMBs (Cash Management Bills)?
Past few months have brought some serious depreciation in the value of rupee against the dollar with rupee crossing the 6o mark versus dollar. The country is also facing the problem of inflation. RBI has been taking liquidity tightening measures to curb the instability of the currency. As part of its liquidity tightening measures, on 15 July, RBI said banks can borrow up
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to Rs.75,000 crore of money from it at 7.25%. Any excess of it shall be borrowed at a special rate called Marginal Standing Facility (MSF), which it raised to 10.25% from 8.25%. However, the rupee continued to fall and RBI, on July 23, further restricted this liquidity to 0.5% of a bank’s own demand base. This effectively halved the money a bank can borrow from RBI to Rs.37,500 crore. It also directed banks to keep 99% of their cash reserve ratio, or the portion of deposit that banks need to keep with RBI on a daily basis. The central bank has clarified that it gives priority to contain rupee-volatility and it chooses to curb inflation over growth. The latest measure of auctioning CMBs is aimed at absorbing the excess liquidity from the economy even as demand for such short-term bills is high. This is expected to bring some positive effect in terms of improving the position of Rupee as well as some impact on inflation.
Can’t opt for high inflation to promote growth: RBI
August 14th, 2013
RBI has clarified that it could not espouse a policy of tolerating higher inflation in order to promote growth because such a stance would not yield the desired results. RBI cited a study which, although, gave empirical evidence that lower real interest rates could stimulate growth and investment, it didn’t recommend a policy of higher inflation tolerance as the means to lower real rates. The study was conducted in the backdrop of criticism that the RBI was adopting an anti-inflationary monetary policy stance to the impediment of growth. As per the study, the incremental capital output ratio has increased in recent quarters and correspondingly, the implicit marginal productivity of investment has also declined. As a result, lower levels of real interest rate would have also contributed to the slowdown in growth.
Why RBI can’t adopt a policy which tolerates high inflation?
· ·
The negative impact of inflation on growth outweighs its positive impact if real rates are lowered beyond a threshold. Tolerating higher inflation with growth supportive monetary policy response is unlikely to stimulate growth to the desired extent since the adverse impact of higher inflation on growth would more than offset the favorable impact of growth supportive monetary policy.
·
The adverse growth impact of high inflation was seen to operate primarily through compression of consumption demand since investment demand is more sensitive to lower real rates than higher inflation.
What is real interest rate?
The real interest rate is the rate of interest an investor expects to receive after allowing for inflation. It can be described more
formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate. If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, he would expect to earn a real interest rate of 3%.
Magnetic flip of Sun may affect Earth’s climate
August 14th, 2013
The Sun’s magnetic field is expected to undergo a 180-degree flip in the coming 3 to 4 months as its magnetic north and south poles reverse positions.
How does this Magnetic Flip take place?
The outer layers of the Sun consist of a soup of charged particles whose steady motion influences the alignment of the Sun’s magnetic field. There are two winds of such charged particles one moving east-west and the other north-south and these tug at each other to move the magnetic north and south poles of the Sun thus making them go a full circle onceevery 22 years. This period is called a solar cycle which results inreorientation of the solar dynamo and which is the source of the Sun’s magnetic field. The magnetic field will flip half a circle in the coming months marking the end of 11 years of the 24th such cycle on record and once the second pole catches up, the next half of the cycle will start.
Effects of Magnetic Flip:
· · · ·
It could affect storms on Earth and even disrupt satellites. During this flip, activity on the star’s surface intensifies, producing violent solar flares and coronal mass ejections.
A weak electric field that rises out of the Sun and pervades the Solar System experiences small disturbances. As the moving Earth dips in and out of this field, stormy space weather can be stirred up around Earth. The Cosmic rays which are high energy particles accelerated to nearly light speed by supernova explosions and other violent events in the galaxy, could also be affected and thus influencing cloudiness and the climate on Earth.
Govt. mulls making fingerprints compulsory for new SIM cards subscribers
August 14th, 2013
Government is looking forward to make it mandatory for the telecom service providers to take fingerprint or any other biometric feature of the subscriber when he/she applies for a mobile connection in future. As per the suggestions of Ministry of Home Affairs the Department of Telecom (DoT) may need to maintain a central database of all subscribers with bio-metric parameters similar to the Aadhaar. The final decision is still due.
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Current Affairs – August 2013 from GKToday
Pinaka rockets tested successfully
August 14th, 2013
Armament Research and Development Establishment(ARDE) successfully test firedPinaka rockets were from aMulti- Barrel Rocket Launcher (MBRL) from a base at Chandipur. The MBRL is capable of acting as a force multiplier and has been developed to supplement artillery guns. Pinaka has undergone several tough tests since 1995 and has already been introduced into the armed forces. In July, 2013, a more advanced 2nd generation i.e. Pinaka Mark II Multi-Barrel Rocket Launcher System had undergone successful firing trials at Chandhan area in Pokhran field firing ranges in western Rajastan and is in development stage.
Pinaka and its applications
· · · · salvos.
Pinaka is an unguided area weapon rocket system with a range of 40 km, meant to neutralise large areas with rapid It can fire a salvo of 12 rockets in 44 seconds, the battery of six launchers can neutralise at a time a target area of
3.9 sq km. The system’s capability to incorporate several types of warheads makes it deadly for the enemy as it can even destroy solid structures and bunkers. The quick reaction time and high rate of fire of the system gives an edge to the Army during a low amount conflict situation
Rajya Sabha passes Companies Bill 2012
August 14th, 2013
Rajya Sabha has passed the Companies Bill 2012 in order to replace the outdated Companies Act, 1956. Both the houses of Parliament have passed the Bill and before it becomes law it will go to President Pranab Mukherjee for his assent. The existing statute for regulation of companies in the country, viz. the Companies Act, 1956 had been under consideration for quite long for comprehensive revision in view of the changing economic and commercial environment nationally as well as internationally. The Companies Act of 1956 replaced the first Companies Act that was created in 1919 (the pre-independent India). The Act of 1956 has been amended 25 times in all these years since its formation.
Key features of Companies Bill 2012:
·
Spending of funds by companies for Corporate Social Responsibility (CSR) will be mandatory. Companies are required to spend at least 2 % of their net profit on CSR. The companies will also have to give preference to the local areas of their operation.
· · · · · · · · · · ·
If the companies are unable to meet CSR norms, they will have to give explanations and may even face penalty. The amended legislation will help to control major source of corporate law-breaking for falsely inducing a person to enter into any agreement with bank or financial institution with a view to get credit facilities. With view of interests of employees, company will have to pay 2 years’ salary to employees in case it shuts operations. The appointment of auditors for five years shall be subject to ratification by members at every annual general meeting. The limit in respect of maximum number of companies in which a person may be appointed as auditor has been proposed as 20. The maximum number of directors in a private company has been increased from 12 to 15 and which can be increased further by special resolution. The financial year of any company can end only on March 31 and the only exception is for companies which are holding subsidiary of a foreign entity requiring consolidation outside India. It makes auditors subject to criminal liability if they consciously or carelessly omit certain information from their reports. It has a stipulation that keeps a check on very expensive remunerations for the board of directors and other executives of the companies. This will protect the interest of shareholders as well as employees. The amended legislation also limits the number of companies an auditor can serve to 20 besides bringing more clarity on criminal liability of auditors. The proposed legislation would ensure setting up of special courts for speedy trial and stronger steps for transparent corporate governance practices and curb corporate misdoings.
Environmental activists oppose Mithi Virdi Nuclear Plant
August 14th, 2013
Environmental activists in Gujarat are against the proposed Rs. 6,000 crore Mithi Virdi nuclear power plant in Saurashtra region’s Bhavnagar district to be set up by NPCIL (Nuclear Power Corporation of India Limited). They have written to the Ministry of Environment and Forests (MoEF) that alleging the Coastal Regulatory Zone (CRZ) clearance by the State government was given without any site visits and documentation of ground realities.
Why Environmental activists opposing the Mithi Virdi nuclear power plant?
As per the activists, clearance for the project has been given by overlooking safety aspects, site clearance report, and without undertaking any site visits. They argue that the basics like population increase in the immediate vicinity of the proposed plant
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Current Affairs – August 2013 from GKToday
have not been taken into account. According to the activists CRZ clearance is an act of endorsing the illegal and unconstitutional act of NPCIL and Engineers India Limited (EIL). Activists earlier alleged that the EIL were not authorized to conduct an environment impact assessment for a nuclear power plant.
IRDA relaxes investment norms
August 14th, 2013
Insurance Regulatory and Development Authority (IRDA) has relaxed the investment norms for the firms like Housing finance andinfrastructure finance companies to allow these companies to get higher funding from the insurance companies.
Steps taken by IRDA:
·
The investments in debt instruments issued by housing finance companies as specified in the investment regulations shall not be included under the exposure to financial and insurance activities. Currently, such exposure to housing finance companies and infrastructure finance companies is treated as exposure under financial and insurance activities but the industry exposure limits will continue to apply for such investments.
·
The single investee debt exposure limits in housing finance companies have been enhanced to 20% of equity plus free reserves from existing 10% limit. The limit mentioned above can be further increased by an additional 5% with the prior approval of board of company.
·
The group and promoter group exposure norms will continue to apply on the investments made in a housing finance company.
Wildlife Protection Amendment Bill 2013 introduced in Rajya Sabha
August 14th, 2013
The Environment and Forests Ministry introduced in the Rajya Sabhamajor amendments to the Wildlife Protection Act, 1972 that seek heavier penalties to check wildlife-related crimes and aim to make Indian laws consistent with the Convention on International Trade in Endangered Species of wild flora and fauna (CITES).
Salient features of the Wildlife Protection Amendment Bill 2013:
· · · · ·
The amended legislation aims to ban the use of animal traps except under certain conditions. It also looks forward to engage gram sabhas and gram panchayats in management of protected areas, and to grant
hunting rights to hunter-gatherer Scheduled Tribes of the Andaman and Nicobar Islands. Hunting in national parks and sanctuaries or the alteration of their boundaries should be punished with 5 to 7 years in jail and fine of Rs 5 to 25 lakh as compared to the previous 3 to 7 years in jail and Rs 10,000 fine. The punishment would be 7 years in prison and Rs 30 lakh fine for repeat offenders compared to the previous 3 to 7 years of imprisonment and Rs 25,000 fine now. The amendments are strict against crimes related to sale, purchase and transfer of animals, their parts or products listed in various schedules.
PV Sindhu creates history by winning Bronze in World Badminton Championship
August 15th, 2013
PV Sindhu created history as she won bronze medal in the World Badminton Championships Although she lost in the semifinal to Ratchanok Intanon of Thailand, she became the first Indian to win a women’s singles medal in the World Badminton Championship. PV Sindhu holds both junior and senior national titles after thelegendary Prakash Padukone In past, Prakash Padukone had won the men’s singles bronze in 1983 at Copenhagen. Jwala Gutta and Ashwini Ponnappa won another bronze in women’s doubles in the 2011 edition.
India’s forex reserves dips by $2.99 billion
August 15th, 2013
As per the Reserve Bank of India, the country’s foreign exchange reserves lowered by an immense USD 2.995 billion to USD 277.167 billion. Foreign currency assets which are a major component of the forex reserves, dropped USD 2.155 billion to USD 249.895 billion in the first weekend of August 2013. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as euro, pound and yen, held in the reserves. The gold reserves dropped USD 808.5 million at USD 20.747 billion. TheSpecial Drawing Rights (SDRs) were down by USD 21.4 million to USD 4.352 billion, while the country’s reserve position with the IMF also fell by USD 10.7 million to USD 2.171 billion.
Maharashtra is first State to pay salary through Aadhaar seeded bank accounts
August 15th, 2013
Maharashtra became the first state in the country to disburse salary of its staff through their Aadhaar linked bank accounts. The employees of the state government’s Information Technology (IT) department got their July 2013 salaries through their Aadhaar linked bank accounts. Maharashtra State Government has decided to use the Aadhaar Payment Bridge (APB) system for all Mantralaya employees. This initiative would help in speedy transfer of salaries and also ensure the transfer to the actual beneficiary at a later stage. UID for faster Salary: Maharashtra State Government initiated a program “UID for faster Salary” for its employees in the state. The aim is to process salaries only for those employees, who are enrolled under Aadhaar program.
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Current Affairs – August 2013 from GKToday
Bt cotton replaces desi cotton in flag making
August 15th, 2013
Bt cotton, a technology of an American seed company replaced ‘desi’ cotton Jayadhar, a popular variety of cotton grown in Karnataka that was also earlier used in making flags. Flag making units at Bengeri in Hubli city and Garaga in Dharwad district, which caters to the nationwide demand for the tricolor are now using, wholly or partly, the khadi derived from Bt cotton. At some naufacturing units at Bengeri where flag making started in 2008, the tricolour is manufactured using khadi made out of a combination of Jayadhar and BT cotton.
Why flag manufacturers are choosing Bt cotton over indigenous cotton varieties?
qualities.
As per manufacturers, quality of cotton is determined by length, strength and appearance and BT cotton provides all these
INS Sindhurakshak (submarine of Indian Navy) sinks
August 15th, 2013
In a major blow to the Indian Navy, a recently refurbished submarine sank following an explosion and fire leaving 18 crew of its on board dead. INS Sindhurakshak sank into the shallow waters of its berth at the naval dockyard in Mumbai. INS Sindhurakshak: INS Sindhurakshak was a Russian-made Kilo-class Type 636 diesel-electric submarine of the Indian Navy. It was commissioned on 24 December 1997, It was the ninth of the ten Kilo-class submarines in the Indian Navy. The submarine had recently undergone modernization under a contract signed with Russia. After the overhaul, it had returned toIndia from Russia between May and June 2013.
Hassan Rouhani is the new President of Iran
August 15th, 2013
Hassan Rouhani sworn as the new President of Iran in the ceremony held at the Iranian Parliament in Tehran. Rouhani, who will have 4-year tenure as President, is the 7th (different) President of Iran after the Islamic Revolution of 1979. He secured a little over 50% votes to win the election and succeeded Mahmoud Ahmadinejad.
Some facts about the election of the President in Iran:
The President of Iran is elected as per rules envisaged in the country’s Constitution. As per the Constitution of Iran, the President is elected by an absolute majority of votes polled by the voters. The President must be elected from among religious and political personalities. The President is elected for 4-year term by the direct vote of the people. His re-election for a successive term is allowed only once.
Usain Bolt regains 100-meter gold at worlds
August 18th, 2013
Six-time Olympic gold medalist, Usain Bolt, regained World 100 meter title as he won the race in 9.77 seconds at the IAAF World Athletics Championships held in Moscow. Bolt finished ahead of Justin Gatlin of the U.S. (9.85) and Jamaican Nesta Carter (9.95). Bolt had previously won the event at the World championships in Berlin in 2009 where he set the current world record of 9.58 seconds.
Other Winners at IAAF World Athletics Championship 2013:
o o
Olympic decathlon champion Ashton Eaton of the U.S. won gold in the event. Olympic winner Brittney Reese of the U.S. won the women’s long jump for the third consecutive time with a leap of 7.01 meters.
o
Tirunesh Dibaba of Ethiopia won the women’s 10,000 meter title for the third time. Sandra Perkovic of Croatia won the women’s discus. Aleksandr Ivanov of Russia won the men’s 20-kilometer walk.
o o
Noted naturalist Zafar Futehally passes away
August 18th, 2013
India’s one of the best known naturalists and ornithologists Zafar Futehally (93) passed away. Zafar Futehally: · Born in Andheri, Mumbai in 1920.
He led the conservation movement in India serving as a link between conservationists and corporates. He also founded Newsletter for Birdwatchers a periodical that helped birdwatchers around India to communicate their observations. It was a vital publication and served to document observations at a time when there was no digital documentation and there were few scientific studies on wildlife in the country.
Mr. Futehally was associated for 60 years with the Bombay Natural History Society of which he was honorary secretary for 16 years till the 1970s.
Reservation in prelims not legally valid: Patna High Court
August 18th, 2013
As per an order passed by the Patna High Court which was adjudicating a petition that challenged the preliminary tests results declared by theBihar Public Service Commission (BPSC) for the 53rd to 55th Combined Competitive Examinations (CCE) to recruit gazetted officers across the state, no reservation was applicable to preliminary tests as they were just screening examinations.
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The petition had challenged the result on the basis that the BPSC had implemented the reservation policy in declaring the preliminary result whereas quota was applicable only in the mains examination and not in the elimination round. The petitioner referred to the Bihar Reservation for Post and Vacancy Act, which specified that reservation could be granted only when the examination led to the final selection of the candidate.
Serena Williams wins women’s Rogers Cup
August 18th, 2013
US’ tennis star Serena Williams defeated Romania’s Sorana Cirstea in the final of the women’s Rogers Cupheld in Toronto to bag her 54th WTA singles title. · · Serena Jameka Williams is an American professional tennis player and is currently ranked No. 1 in women’s singles tennis. On six separate occasions, the WTA (Women’s Tennis Association) has ranked her World No. 1 in singles .
INS Arihant submarine’s reactor achieves criticality
August 18th, 2013
The reactor of India’s first indigenous nuclear powered submarine, Arihant achieved criticality i.e. the self sustaining nuclear reaction which is the first step towards the stable production of power. About INS Arihant: · India’s first indigenously built nuclear-powered ballistic missile submarine.
It has been jointly developed by the Department of Atomic Energy (DAE), the Defence Research and Development Organisation (DRDO) and the Navy. · It is about 111 metres long, 11 metres broad and about 15 metres tall and is designed to be propelled by a Pressurized Water Reactor (PWR) that uses enriched uranium as fuel, and light water as both coolant and moderator. The PWR will generate about 80 MWt. · The submarine will eventually be fitted with K-15 underwater fired missiles, which can hit targets 700 km away. The K-15 missiles are capable of carrying nuclear warheads. Note: Only five countries in the world possess nuclear powered submarines- the U.S., Russia, the U.K., France and China. Apart from India, Brazil is also working on naval nuclear propulsion.
Environment Ministry’s panel finds illegal sand mining in Gautam Buddh Nagar
August 18th, 2013
The environment ministry team found facts of the widespread illegal sand mining in Gautam Buddh Nagar district of Uttar Pradesh. The team was set up by the ministry in the backdrop of the suspension of the district’s sub divisional magistrate Durga Shakti Nagpal who took on the illegal mining in the area.
Steps suggested by the panel to prevent illegal sand mining:
· · depth, location of mining leases.
The state must adopt and implement the rules set out for riverbed mining which lay down specification of mining
Those holding mining leases are required to have their mining plans approved by the state’s mining and geology department.
A cumulative impact assessment must be undertaken to assess pollution, adequacy of infrastructure. All the mining activity must have environmental clearance. It has been recommended that cumulative impact assessment of riverbed mining be undertaken before giving clearance, as well as stepping up monitoring.
Scientist Vinod Prakash Sharma honoured with Gujar Mal Modi award
August 18th, 2013
Scientist Vinod Prakash Sharma has been honoured with the Gujar Mal Modi Award for Innovative Science and Technology 2013 for his achievements in malaria research, control and prevention, including other vector borne diseases. He is leading the Safe Water Campaign of the NASI (The National Academy of Sciences, India). His work on popularization of science, creating awareness and science education programmes of NASI appreciated in the remote areas as well. are widely
Famous French tennis player Marion Bartoli retires
August 18th, 2013
Marion Bartoli declared her retirement thereby ending her tennis career just six weeks after winning Wimbledon. Bartoli is currently ranked 7th in the world.
Marion Bartoli:
Marion Bartoli is a former French no. 1 professional tennis player. She won the 2013 Wimbledon Championships singles title after previously being runner-up in 2007, and was a semi-finalist at the 2011 French Open. She also won seven Women’s Tennis Association singles titles and three doubles titles. Bartoli is currently ranked 7th in the world.
Food Bill: some States gain and some lose in allocation of food grain
August 19th, 2013
Although the National Food Security Bill is still pending in the Parliament, the Centre has intimated to certain States that their food grain allocation would decline in spite of the mandatory 75% rural and 50% urban populations being covered under the proposed new law.
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Current Affairs – August 2013 from GKToday
As per the new privilege, 17 States and UTs will gain and 18 will stand to lose slightly. Amongst the 18 States which would lose food grain allocation are Andhra Pradesh, Tamil Nadu, Kerala, Delhi,Uttarakhand and some north-eastern States. The government intends to protect the current allocation for each State but the major concern is over the cost at which the Food Ministry will make additional grains available. The Food Subsidy Bill is estimated at Rs. 1.24 lakh crore but the Centre is not willing to give States the additional food grains at the same subsidized rates. The Food Ministry is moving a proposal in Cabinet for provision of additional grains at the minimum support price given to farmers for wheat and paddy. The Central issue price under the Food Security Bill for rice will be Rs. 3 per kg, for wheat Rs 2 per kg and for coarse cereals Re. 1 per kg.
Shree Ganeshan Chundan wins Nehru Trophy Boat Race 2013
August 19th, 2013
Shree Ganeshan Chundan, the snake boat of the St Francis Boat Club, Harippad won the 61st edition of the Nehru Trophy Boat Race 2013 held in Punnamada Lake in Alleppey (Alappuzha), SouthKerala. This is the second consecutive win for Shree Ganeshan that was captained by Arunkumar, Karthikapally. Ganeshan was honoured with the silver trophy that was donated by Jawaharlal Nehru in 1952 with his signature embossed on it.
About the Nehru Trophy Boat Race:
The practice of the boat race started in 1952 after the first Prime Minister of India Jawaharlal Nehru visited the area in Kerela. The villagers held a boat race to honour his visit in the area. The Nehru Trophy Boat Race is conducted every year on the second Saturday of August. Nehru donated a silver trophy to the winners of the race and since then the competition is held by his name. The main attraction of the contest remains the snake boats, which are locally known as Chundan Vallam, which means Beaked Boat. Snake boats have been named following its structure that is long and narrow in shape and 36 to 42 meter in its length.
Training launch of Prithvi-II missile successful
August 19th, 2013
India’s Strategic Forces Command (SFC) test fired its nuclear capable surface-to-surface Prithvi-II missile for its full strike range of 350 km from the Integrated Test Range at Chandipur, off Odisha coast. The launch was part of regular training exercise.
About Prithvi-II
First missile to be developed by DRDO under the Integrated Guided Missile Development Program (IGMDP) · · · · Surface-to-surface Single-stage liquid fuelled Payload capacity- 500 to 1000 kg Range: 350km Inducted into the SFC in 2003
Variants: Prithvi I for Army, Prithvi II for Air Force and; Dhanush for the Navy ·
Government to set up an independent Coal Regulatory Authority
August 19th, 2013
The Government has decided to set up an independent Coal Regulatory Authority.
Proposed role of the Coal Regulatory Authority:
· · · · · ·
To specify by regulation methods of testing for declaration of grades or quality of coal. To monitor and enforce closure of mines as per approved mine project plan towards closure of mine. To ensure obedience of approved mining plans. To specify the principles and methodology for determination of price of raw coal and washed coal or any other by product generated during the process of washing. To call for information, record or other documents from the entities and publish statistics and other data in relation to
the coal industry. Specifying the standards of performance and norms of operational efficiency except in the area related to mines safety.
To adjudicate upon disputes between the parties and will also advise the Central Government in formulation of polices in coal sector, including allotment or earmarking of coal blocks for any purpose and promotion of competition, efficiency, economy and investment in coal industry.
No plan to increase research stations in Arctic and Antarctica
August 19th, 2013
Union Ministry of Science & Technology and Earth Sciences has clarified that India does not intend to increase research stations in Arctic and Antarctica.
What is the status of India’s scientific presence in Arctic and Antarctica?
Status of India’s Scientific presence in Antarctica:
India presently has two research stations at Antarctica namely ‘Maitri’ and ‘Bharati’. The new station ‘Bharati’ in Larsemann Hills has just been constructed and established in March, 2013. Maitri station has been in operation since 1989. At both the stations research and investigations are undertaken to understand the Polar processes and phenomenon. Observations and studies are carried out in atmospheric, biological, geological, ecological sciences etc.
Status of India’s Scientific presence in Arctic:
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Current Affairs – August 2013 from GKToday
Indian station in Arctic is known as ‘Himadri’ is located at Ny Alesund, Spitsbergen Island, Norway and serves as a hub of Indian scientific investigations since 2008.
Committee to be set up to suggest establishment of Universities for Research & Innovation
August 19th, 2013
The Government has decided to set up a Committee for suggesting changes to the provisions of the Universities for Research and Innovation Bill, 2012 and suggest a roadmap for future.
What does the ‘Universities for Research & Innovation Bill, 2012’ provides for?
The Bill provides for establishment and incorporation of Universities for Research and Innovation which would work towards makingIndia a global knowledge hub. They would set benchmarks for excellence for other institutions of higher learning through path breaking works and by promoting teaching, learning and research.
What is the task before the Committee?
The Committee headed by Prof. Ramakrishna Ramaswamy, Vice Chancellor, University of Hyderabad, has been set up for recommending changes to the provisions of the Universities for Research and Innovation Bill, 2012 and to suggest a roadmap for future.
Role of the Committee :
· · ·
To examine the report of the Parliamentary Standing Committee on Human Resource Development on the Universities for Research & Innovation Bill, 2012. It will also examine the modalities for establishment of Universities for Research and Innovation and suggest a roadmap for establishment of such universities by reputed promoters. The Committee will also recommend changes in the provisions of the Bill, 2012 in the context of the observations/ comments of the PSC on HRD.
Govt. takes measures to increase Forex inflows and check deficit
August 19th, 2013
In order to check the increasing Current Account Deficit (CAD) and curtail the rupee downslide due to an unstable foreign exchange market, the government has announced a set of measures to increase the Forex inflows by an additional $11 billion during the current fiscal by easing overseas borrowing norms. The government has set the target to contain the CAD at $70 billion, or 3.7 % of the GDP in this fiscal.
Upcoming measures by Govt. to increase Forex inflows and check deficit:
· ·
To hike the customs duties on gold, silver and other non essential goods to contain the import bill. The interest on foreign currency non-resident (NRI/NRE) accounts will be liberalized to attract more deposits. finance companies Indian Railway Finance Corporation (IRFC), Power Finance Corporation (PFC)
PSU
and IndiaInfrastructure Finance Company Limited (IIFCL) will mop up $ 4 billion by issuing quasi-sovereign bonds for infrastructure sector development.
External Commercial Borrowings (ECBs) will also being eased to enable the oil PSUs to acquire dollars for financing their import requirements. Sovereign Wealth Funds (SWFs) would be allowed to invest up to 30% in tax-free bonds to be floated by PSU financial institutions and the RBI would also issue circulars permitting MNC subsidiaries in India to raise funds from their parent companies.
DBT scheme for LPG to be extended to 35 more districts
August 19th, 2013
The Petroleum and Natural Gas Ministry has decided to extend LPG Direct Benefit Transfer (DBT) scheme to 35 more districts from September 1, 2013 after observing a good response from the districts already in the scheme thus taking the total coverage to 55 districts. The districts which will be covered include 12 in Kerala, 7 in Andhra Pradesh, 7 in Himachal Pradesh, 5 in Punjab, 2 in Madhya Pradesh and one each in Maharashtra and Goa The decision to include 35 more districts would add about 1.4 crore consumers to the 2.12 crore already being covered by the scheme where consumers get an advance of Rs. 435 in their bank accounts.
What is the purpose of the DBT scheme?
The government has launched DBT scheme with the aim of restricting leakages, preventing black marketing by sending subsidy directly into the beneficiary’s bank account.
How does the DBT scheme for LPG benefit the consumer?
Consumers get their subsidy directly in their bank accounts. All Aadhaar linked domestic LPG consumers get an advance of Rs. 435 an LPG cylinder in their bank account as soon as they book the first subsidised unit before delivery. When the first subsidised cylinder is delivered to such consumers, the next subsidy will be credited to their bank account which can then be used for the purchase of the next subsidised cylinder at the market rate.
What is the current status of DBT?
Since its launch on June 1, 2013 about four million direct cash transfers have taken place to consumers’ bank accounts. So far Rs. 150.6 crore has been transferred to consumers in 20 districts of phase I. Related Posts:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Direct Benefits Transfer subsidy scheme to extended to 78 more districts in July 2013. Committee for Direct Cash Transfers Countrywide coverage of Direct Benefit Transfer Scheme – “Aapka Paisa, Aapke Haath”
SEBI to go in for a major revamp
August 20th, 2013
The market regulator Securities and Exchange Board of India (SEBI)has decided to go in for a major refurbishment of its role, vision and organisational set up with a stronger workforce and greater IT resources in order to improve focus on mobilizing household savings into capital markets and to strengthen its supervisory functions. It has been asked to work for a re-organisation of its functional departments, increase its manpower, improve its IT strategy for organisational efficiency and strengthen its training and performance management system. SEBI has decided to declare illegal mobilisation of funds as a “fraudulent and unfair trade” practice in order to control the rising incidences of public getting defrauded by money pooling schemes. It has clarified that the existing list of activities coming under fraudulent and unfair trade practices can be further expanded whenever the need arises. All activities of money mobilization through unauthorized Collective Investment Schemes (CIS) would face stronger penalties prescribed under the revised SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations.
Noted Kamaicha player Sakar Khan passed away
August 20th, 2013
Renowned Rajasthani folk musician Sakar Khanknown for the melodious bow and string instrument Kamaicha passed away in Jaisalmer,Rajasthan.
Sakar Khan:
He belonged to the traditional Manganiyar folk musician community of Rajasthan and learned to play the Kamaicha from his father Chunar Khan who is known as a legend among the folk musicians of the state. Sakar Khan had performed with the well known American violinist Yehudi Menuhin and George Harrison of The Beatles and also performed at major international festivals in the US, France, Japan and USSR.
He
was
honoured
with
the Padma
Shri in 2012,
the Tulsi
Samman
by
the Madhya
Pradesh government in 1990 and the Sangeet Natak Akademi Award in 1991.
What is Kamaicha?
The Kamaicha,also known as the Kamancha and Kamancheh is one of the oldest bowed instruments of the world and is found across the globe with several regional variations. In Kashmir it is known as saaz-i-kashmir and is often compared to the middle- eastern instrumentRaba’ab. It has a goat skin spherical sound box with three or four strings (made either with silk or metal) and 14 sympathetic metal strings.
Political parties agree on nullifying SC order against convicted lawmakers
August 20th, 2013
Parties across political lines agreed to amend the Representation of the People Act to overturn a Supreme Court verdict which barred people in police or judicial custody from contesting elections. The government also received support for its proposal to amend the Act to repeal the impact of the verdict that ordered the immediate disqualification of MPs and MLAs on conviction in a criminal case without being given 3 months time for appeal.
What is the controversy all about?
In July, 2013 Upholding a 2004 judgement of Patna High court, the Supreme Court held that persons in lawful custody – whether convicted in a criminal case or otherwise – cannot contest polls. However, the ruling does not apply to those on bail.
What is the matter?
The Chief Election Commissioner and others had filed a appeals against a Patna High Court judgement that in 2004 had held that when a person in custody is disqualified from voting he or she must be disqualified from contesting in elections too. Calling the High Court’s decision right the apex court held that a person who has no right to vote by virtue of the provisions of Section 62 (5) of the Representation of the People Act 1951 is not an elector and is therefore not qualified to contest the election to the House of the People or the Legislative Assembly of a State. Besides, the court said “A right to vote is a statutory right, the Law gives it, the Law takes it away. Persons convicted of crime are kept away from elections to the Legislature, whether to State Legislature or Parliament and all other public elections. The Law temporarily takes away the power of such persons to participate in elections. To vote is a statutory right. It is a privilege to vote, which privilege may be taken away. In that case, the elector would not be qualified, even if his name is on the electoral rolls.
Duty on Gold, Silver raised to 10%
August 20th, 2013
In order to curb the increasing Current Account Deficit (CAD) the Centre hiked the customs duty on gold, platinum and silver to 10%. This initiative will bring in additional revenue of Rs. 4,830 crore. As per the notifications by the Central Board of Excise and Customs the import duty on gold and platinum is increased from 8% to 10% and on silver it was raised by 4 % to 10%. This is the third time that the government has hiked the customs duty on gold this year in order to curb its imports as dollar outflows on this count are seen as mainly responsible for rapidly increasing
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
CAD which touched a record high of 4.8 % in 2012-13. The government is aiming to restrain CAD at 3.7 % of the GDP this fiscal.
Sharp rise in Internet related bank frauds: Banking Ombudsman
August 20th, 2013
There was a sharp increase in complaints relating to Internet related bank frauds. The total number of complaints increased marginally from3,486 in 2011-12 to 3,494 in 2012-13. The complaints related tocredit card and Internet based transactions increased from 732 to 1,279 as per Banking Ombudsman for Karnataka M. Palanisamy. Reserve Bank of India (RBI) has adopted new guidelines that require banks to ensure that customers authenticate through an alternative network typically via a text message which make Card based transactions more secure. The online transactions through net banking channels or using credit cards remain a concern for not only the banks but for the regulator also.
How did fraudulent transactions happen?
The scamsters who were mainly based overseas skimmed the details on the debit or credit cards of ordinary people including drivers, housewives and mechanics. The uncertified websites such as lyca.uk, sports.com,entropay.uk and denguemail.ru were among those that pilfered their victims by drawing money in foreign currency. There were a few cases of Indians as in one of the case a gang in Bangalore masked IP addressesto make it appear to the user that the website was based overseas. In most cases the banks have re-credited the disputed amounts to the victims. The possible explanation for the banks’ readiness to settle disputes could be the burden of proof on them to establish that they had not been responsible for the user id or password being compromised.
Ibrahim Keita wins Mali presidential election
August 20th, 2013
Mali’s former Prime Minister Ibrahim Boubacar Keita has won the presidential election runoff. He now faces a tough task of rebuilding a country reeling under more than a year of turmoil including a military coup and war. Mali’s first election since 2007 was seen as vital for unlocking more than $4 billion in aid promised byinternational donors who halted contributions in the wake of last year’s coup that ignited an Islamist insurgency and a French military offensive.
NBFCs must be under RBI watch: Subbarao
August 20th, 2013
As per Reserve Bank of India (RBI) Governor D. Subbarao, bankingas well as Non-Banking Financial Companies (NBFCs) must be under a unified regulation of the central bank to prevent 2008 like crisis. He said that there were strong inter-linkages between Banks and Non-Banking Financial Companies (NBFCs) and suggested that a unified regulation by the same regulator was essential for financial stability.
What is the need to include NBFCs under unified regulation?
The government has plans to take away the regulation of NBFCs from the central bank and put it under a unified financial authority. As per RBI, such a move would prove detrimental to financial stability. It said that for the Monetary Policy to be effective the credit creation (that is by banks and credit institutions such as NBFCs) should be regulated by the central bank. it pointed that the major reason behind the 2008 crisis wascredit intermediation activities conducted by non-banks which were mainly outside the regulatory purview so post crisis the trend has been to entrust more, not less, regulation by central banks.
List of Awardees for Khel Ratna and Arjuna Award announced
August 20th, 2013
The selection committee for Khel Ratna and Arjuna Award has released the list of awardees for both the honors for year 2013. As per the release, double trap shooter Ronjan Sodhi, who is the first Indian to win 2 back-to-back World Cup gold medals at the 2010 and 2011 editions in Turkey and UAE respectively, has been recommended for the prestigious Rajiv Gandhi Khel Ratna award. Sodhi had already been conferred with the Arjuna award in 2009. Gagan Narang had been presented the award in 2011 followed by Vijay Kumar in 2012. Vijay, a London Olympics silver medalist, was the joint winner along with wrestler Yogeshwar Dutt who won a bronze at the same event.
Who are on the list of Arjuna Award 2013?
o Virat Kohli (Cricket), Chekrovolu Swuro (Archery) Renjith Maheshwary (Athletics) P V Sindhu (Badminton) Kavita Chahal(Boxing) Rupesh Shah (Snooker) Gaganjeet Bhullar (Golf)
A total of 14 personalities have been recommended for Arjuna Award 2013 which are as follows: o o o o Saba Anjum (Hockey) Rajkumari Rathore (Shooting) Joshna Chinappa(Squash) Mouma Das (Table Tennis) Neha Rathi (Wrestling) Dharmendra Dalal (Wrestling) Amit Kumar Saroha (Athletics).
o o o o
o
o
o
o o
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
China’s UCWeb: Most extensively used mobile browser in India
August 20th, 2013
As per the latest data from StatCounter,Chinese internet service companies are looking forward to crack the Indian market as they have achieved another milestone with Chinese firm UCWeb’s mobile browser becoming the most widely used browser in India. StatCounter, a web traffic analysis tool, now places UC Browser (a UCWeb mobile service)at having a 30% market share for the month of July 2013 narrowly beating previous market leader Opera. UCWeb’s increased market share is also due to the company extending its global partnership with Samsung and LG to the Indian market. UCWeb is also planning to soon tie-up with local Indian handset.
India’s Gold consumption reaches highest in last decade
August 20th, 2013
India’s consumption of gold rose to 310 tonnes in the 2nd quarter and is the highest in the last 10 years despite the fact that government aims to restrict imports to control the Current Account Deficit (CAD). India depends on gold imports to meet its entire demand which is expected to be between 900 and 1000 tonnes in 2013 calendar year. Most of the demand was met by stocks that had been built up to healthy levels after the April price drop. Gold consumption was around 181.1 tonnes in the same quarter in 2012. As per the World Gold Council (WGC), the consumer demand was up 71 % as compared to last year. The fall in the gold price last April resulted in an increase in jewellery demand by more than 50 % than what it was a year ago. Now, the government has raised import duty on gold for a third time in eight months from 8% to 10 % to control the CAD. The long term objective is to increase the liquidity of domestic gold holdings through institutional, official channels, effectively monetising gold to support economic growth.
India wins 83 medals at World Police & Fire Games-Belfast 2013
August 20th, 2013
The 39 member Indian Police team won a record breaking 83 medals when they participated inthe World Police & Fire Games held atBelfast, Northern Ireland. As a result of this the record of 2005 World Police & Fire Games held in Quebec (Canada) where India had won 82 medals including 39 Gold was broken. The medals include 48 Gold, 22 Silver and 13 Bronze Medals.
Key achievements of Indian Team at World Police & Fire Games-Belfast 2013 :
The performance of the Indian team was outstanding in Athletics where a 14 member team comprising 7 males and 7 female police athletes won 22 Gold, 9 Silver and 6 Bronze medals. The male athletes won 15 medals including 7 Gold and the female athletes did exceptionally well winning 22 medals including 15 Gold.
Rajya Sabha passes Registration of Births and Deaths (Amendment) Bill, 2012
August 20th, 2013
Rajya Sabha passed Registration of Births and Deaths (Amendment) Bill, 2012.
According to the Bill, marriages held
in India irrespective of the religion of the persons getting married will have to be necessarily registered. Through this bill the Union government is providing a platform to the states which are free to frame their own rules in agreement with their requirements. The government does not favour compulsory registration in cases of live-in relations. The Bill is introduced to protect the women from unnecessary harassment in matrimonial and maintenance cases. It also seeks to provide evidentiary value in the matters of custody of children, right of children born from the wedlock of the two persons whose marriage is registered and the age of the parties to the marriage.
Rafael Nadal wins men’s singles title in Rogers Cup 2013
August 20th, 2013
Rafael Nadal of Spain defeated Canada’sMilos Raonic in the final of the men’s Rogers Cup 2013 in Montreal, Canada. This is the Nadal’s third Rogers Cup title. He also won Rogers cup in 2005 and 2008. This triumph brought Rafael Nadal his 25th ATP World Tour Masters title. As per the latest ATP world rankings Rafael Nadal moves to third rank and Milos Raonic rose to tenth rank and also became the first Canadian to be ranked in the top 10 on the ATP Tour. The top position is held by Serbian player Novak Djokovic.
About Canadian Open/ Canada Masters/ Rogers Cup
The Canadian Open (also known as the Canada Masters), currently sponsored as the Rogers Cup presented by National Bank. Held in Canada.
Annual tennis tournament · · · Men’s competition is a Masters 1000 event on the Association of Tennis Professionals (ATP) tour. The women’s competition is a Premier 5 tournament on the Women’s Tennis Association (WTA) tour. Played on hard courts.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Extinction of large animals “Megafauna” damaged nutrient distribution system
August 20th, 2013
As per a latest studies, large animals acted as carriers of key nutrients to plants and animals over thousands of years. According to the findings, large animals which scientists call ‘Megafauna’ worked as key nutrient distributing arteries which spread vital nutrient substances like phosphorous which are essential for the growth of plants. The studies show that the extinction of the megafauna 12,000 years back wiped out one of the main means of transporting nutrients far from the rivers creating a nutrient deficiency which continues to affect plant and animal life in parts of the region today.
What is ‘Megafauna’?
As per researchers, South America was crowded with large animals which are named as ‘megafauna‘ a term for animals with a body mass of more than 44kg (the size of a large dog).
How did Megafauna play role in distributing nutrients?
Due to the large size of the megafauna, they eat and move more than small animals, they have a particularly important role in transporting nutrients into areas where the soil is infertile otherwise. For example: In South America, most nutrients originate in the Andes mountain range and are washed into the forests through the river system. On dry land these nutrients are in short supply unless they are transported through animal dung and bodies. While small animals distribute nutrients over small distances large animals have a much greater range. These megafauna which ate in high quantity and absorbing more phosphorous acted as a key reserve of phosphorous which they transported dry areas through their excretory products or through their bodies after death, thus, playing a significant role in nutrient distribution.
Rajya Sabha passed National Waterway Bill for Assam’s Barak River
August 20th, 2013
The National Waterway (Lakhipur-Bhanga Stretch of the Barak River) Bill, 2013 has been passed by the Rajya Sabha. The Bill aims to develop the 121 km Barak river stretch in Assam as country’s sixth National Waterway that would particularly benefit Assam, Nagaland,Mizoram, Manipur, Tripura and Arunachal Pradesh by facilitating cargo movement there. Cost and Benefits: · The project will need an investment of Rs 123 crore and an expenditure of Rs 3.6 crore per annum would be incurred for maintenance of navigation aids, terminals and dredging.
The projects would be implemented in two phases in total span of 5 years by Inland Waterways Authority of India (IWAI) set up under IWAI Act, 1985.The first phase of the project would be completed by 2016-17 followed by the second phase which is likely to be completed by 2018-19. · The Bill provides for unified development of waterways for shipping, navigation and transportation of cargo to the northeastern region.
The waterway has the potential to transport 12.45 lakh tonne of cargo like tea, coffee, iron, steel and coal per annum after its development by 2018-19. It will not only expand infrastructurethere but would benefit lakhs of people. · It will save a lot of time and resources wasted in transporting over-sized cargo to the North East.
Indian Parliament rejects Pakistan resolution against Indian Army
August 20th, 2013
The Indo-Pak political relations hit a new low due to recent border incidents. In a bitter exchange between the Parliaments of the two countries, both Houses of Indian Parliament together passed a stern-worded resolution rejecting and condemning the baseless and unsupported allegations made by Pakistan in its resolution against the Indian Army and the people of India. What is the issue, why Indian Parliament rejected Pakistan’ resolution against Indian Army? Recently, tension between the two nations escalated after the incident of unprovoked firing from the side of Pakistan occupied Kashmir (PoK)along the Line of Control (LoC) with India that killed 5 Indian soldiers. The incidence further strained the relations between the two nations with parliament of both sides alleging each other of unprovoked aggression. Pakistan passed a resolution in its parliament accusing Indian troops of “unprovoked aggression by Indian military forces“. Pakistan has rejected the involvement of its army in the LoC incident. The resolution by Pakistan also deplored the “unjustified public vilification of Pakistan in the Indian media”. In retaliation to this, Indian parliament passed a counter-resolution against Pakistan which rejected the resolution passed by Pakistan’s National Assembly as making “absolutely baseless and unfounded allegations against the Indian Army and the people of India”. It counter-alleged Pakistan Army of the unprovoked attack on an Indian Army patrol on the Indian side of the Line of Control. India has reiterated that the “entire state of Jammu and Kashmir including the territory forcibly and illegally occupied by Pakistan is an integral part of India and will always remain so”. The resolution also called upon Pakistan to abide by the 2003 ceasefire in letter and in spirit.
IAAF World Championships: Bolt wins 200 meters, Kiprotich bags marathon gold
August 20th, 2013
Jamaican sprinter Usain
Bolt won
his
second
gold
medal
of
the World
Athletic
Championships
being
held
in
Moscow, Russia,cruising through the finish line to win the men’s 200 meters. The 100-meter champion won the race in 19.66
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
seconds for his third straight world title in the 200. Warren Weir of Jamaica was second in 19.79 and Curtis Mitchell of the United States took bronze in 20.04. In Marathon, Olympic champion Stephen Kiprotich of Uganda beat two Ethiopian rivals in the final two kilometres to win the world championship marathon.
AERB nod to run KKNPP first reactor at 50 % capacity
August 20th, 2013
The Atomic Energy Regulatory Board (AERB) has granted permission to the Kudankulam Nuclear Power Project (KKNPP) to run its first reactor at 50 % (500 MW) capacity and synchronization of its generator.
What is the significance of approval to Kudankulam Nuclear Power Project (KKNPP) by Atomic Energy Regulatory Board (AERB)?
The approval means functioning of every component of the 1,000 MW-reactor supplied by Russia. The KKNPP’ first reactor is likely to generate 400 MW before August 2013 end and the reactor is expected to attain its full capacity of 1,000 MW by November 2013 end after getting mandatory clearances from the AERB.
Committee to examine Pentavalent vaccine’s safety
August 20th, 2013
In the wake of 21 infants dying after receiving Pentavalent vaccine in the country, the government will conduct a study to ascertain its safety. The government will soon set up a national-level Adverse Events Following Immunisation (AEFI) Committee that will launch a study on the safety and effectiveness of Pentavalent vaccine and will go into background of the deaths of 21 infants who received this vaccine in various states of India. The proposed study will be conducted with the help of some other agencies and the WHO will also be involved in it.
What is a Pentavalent Vaccine?
The Pentavalent vaccine protects children against five deadly childhooddiseases — DPT (Diphtheria, Pertussis and Tetanus), Hepatitis B and Haemophilus influenza type B (HiB).
Union Cabinet gives nod to establish Tax Administration Reform Commission
August 20th, 2013
The Union Cabinet accepted the proposal for setting up of the Tax Administration Reform Commission (TARC) to remove uncertainty and establish a stable and non-adversarial tax administration.
What is the task before Tax Administration Reform Commission (TARC)?
The Commission will work on following areas of Tax reforms:
To review the application of tax policies and tax laws in India in the context of global best practices and recommend measures to strengthen the capacity of the tax system in India that would reflect best global practices. · · To help in removing ambiguity in application of tax policy and tax laws thereby establishing a stable tax management and a non-adversarial tax administration. To provide an efficient tax administrative system that would improve the tax base as well as tax payer base.
UGC asks universities to give nod to AICTE-approved technical colleges
August 20th, 2013
The University Grants Commission (UGC) has written to the universities, asking them to consider granting approval to the technical institutions and courses, which have been approved by the AICTE, for the academic session 2013-14. The step has been taken as the Ministry of Human Resource Development could not move an amendment to theAll India Council for Technical Education (AICTE) Act, 1952 to undo the Supreme Court judgment that said the role of AICTE was advisory and “it had no business to lay down standards for the MBA and MCA courses.” The amendments to the AICTE Act could not be moved owing to some queries raised by the Cabinet Secretariat. Now an ordinance may come after the present Parliament session. UGC delegated universities the power to grant approvals and affiliations to technical institutions and courses, following the orders of the apex court.
Government to tweak FDI policy for pharma to protect domestic units
August 20th, 2013
A high-level meeting chaired by Prime Minister Manmohan Singh has asked the Commerce and Industry Ministry to start interMinisterial consultations on the issue of changing the norms of FDI policy for pharma which, in its current form, is not serving its objectives and that it needs to be fine-tuned to ensure that cheap drugs are made available to the people at large.
Why there is a need being felt to bring changes in FDI policy for pharma sector?
As it is believed, the policy in its existing for is not serving the purpose it was designed for. For instance, if 100% FDI limit in the pharma sector is upheld, there are apprehensions, it will impact the domestic generic drug industry and it could lead to India’s dependence on imports for life-saving drugs. Further, there are concerns that MNCs have acquired brownfield projects of domestic companies but have spent very little on R&D in India. Over 96% of FDI between April 2012 and April 2013 has come into Brownfield projects. It has not led to significant addition to gross assets or jobs or increase in R&D expenditure. A parliamentary panel has recommended to impose a blanket ban on FDI in brownfield projects. Besides, there are concerns over the ability of Indian firms to take advantage of the situation of blockbuster drugs going off patent through 2015 could be impaired. As many as 67% of drugs worth $80 billion is expected to go off the patent regime between 2011 and 2013.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Currently, around 28% of the market is controlled by MNCs. If another top three Indian companies are acquired by MNCs, their share would increase to 41% and on acquisition of the next rung of eight companies, their share will go over 55%.
What is a “Brownfield Project” ?
In a Brownfield project the structure would need to be demolished or renovated. Those facilities which are modified/upgraded are called Brownfield land projects (often the pre-existing site/facilities are contaminated/polluted.)
What is a “Greenfield Project” ?
A Greenfield is a project that lacks any constraints imposed by prior work. The analogy is to that of construction on greenfield land where there is no need to remodel or demolish an existing structure. Examples of greenfield projects are new factories, power plants, airports which are built from scratch on greenfield land. Both the Greenfield Project and Brownfield Project relate to property construction.
Government sets up high-level panel to map status of tribals
August 20th, 2013
The Government has set up a high level panel to prepare a position paper on the socio-economic, health and educational status of tribals and also recommend policy initiatives as well as effective outcome-oriented measures to improve development indicators and strengthen public service delivery to STs. India has around 8.6% people belonging to tribal community. The population is concentrated in the north-east, particularly in Nagaland,Mizoram, Meghalaya and Arunachal Who will be the members of the Committee? Virginius Xaxa, noted tribal expert and eminent sociologist, who was recently appointed member of the Sonia Gandhi-led National Advisory Council, will be the head of the Committee. Other members include Usha Ramanathan, Joseph Bara, K.K. Misra, Abhay Bang and Sunila Basant, all of whom are familiar with the problems of tribals and come from diverse backgrounds — Law, History, Anthropology, Medicine and Administration. What will be the focus of the Committee? The panel is likely to focus on the following areas: · · · · The impact of involuntary displacement and imposed migration on tribal communities. Effect of rapid urbanisation on their original habitats To examine whether new possibilities of employment and livelihood available to them. To measure their asset base and income levels, and changes in the patterns of ownership and productivity of their immovable assets Pradesh, and in those parts now overrun by Maoists — Chhattisgarh, Jharkhand, Madhya Pradesh, Orissaand parts of Bihar and Maharashtra.
To analyze the role of public policy and the legal framework in facilitating/inhibiting such changes, the level of their socioeconomic development, and their relative share of public and private sector employment, and consider what steps have been taken by States/Union Territories for capacity building and improving their employability.
To examine whether tribal communities have adequate access toeducation and health services, municipal infrastructure, bank credit, and other services provided by government/public sector entities; and the level of schools, health centres, ICDS centres, etc, in areas of tribal concentration in comparison to the general level of such social infrastructure in various States. · To look at whether protective legislation such as the Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Act 1989, the Panchayats (Extension to Scheduled Areas) Act, the Forest Rights Act and the Food Security Ordinance are being implemented effectively.
FDI limit in Asset Reconstruction Companies hiked to 74% – RBI
August 20th, 2013
As per the RBI, the limit on Foreign Direct Investment (FDI) in Asset Reconstruction Companies (ARCs) has been increased to 74% from 49%, another measure to attract capital inflows to support a declining Rupee. The foreign investment limit of 74% in the company will include both FDI and Foreign Institutional Investment (FII) with a single portfolio investor not allowed to exceed 10% of paid-up capital in the ARC.
Centre, MCI seek review of SC judgment on NEET
August 20th, 2013
The Centre and the Medical Council of India (MCI) have filed a petition in the Supreme Court seeking review of the judgement declaring as unconstitutional the single National Eligibility-cum-Entrance Test (NEET) introduced by the MCI and Dental Council of India for admission to graduate and post graduate medical and dental courses across the country.
What was the Supreme Court’s judgement on NEET?
The apex court, in its July 18, 2013 judgement, had quashed the NEET by a 2:1 majority. The majority had held that MCI notification was in violation of Articles 19, 25, 26, 29 and 30 of the Constitution. It said that MCI is not empowered to prescribe all India medical entrance tests.
What are the Centre and the Medical Council of India (MCI) demanding from Supreme Court over National Eligibility-cumEntrance Test (NEET)?
The Centre and the MCI want the Supreme court to review the judgement otherwise, as per the MCI, it will seriously prejudice the progress of the process of holding common entrance test which has been evolved over the period of more than five years of deliberations, judicial orders. As per the Centre, ensuring uniform standards for medicaleducation was of paramount interest to the patient and the single-window system to draw the merit list was a step in that regard.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
As per petitioners, the guidelines on NEET ensure that the single-window admission system would not be in violation of the rights of States nor would it interfere with rights of religious and linguistic minorities. They referred to minority judgement that had held that under NEET though the students can be selected only on the basis of their merit, it would be open to the States to follow their reservation policy and it would also be open to the institutions based on religious or linguistic minority to select students of their choice, provided the students so selected have secured minimum marks prescribed at NEET.
U.N. Chief asks nations to contain declining Official Development Assistance (ODA)
August 20th, 2013
Ban Ki-moon, the U.N. Secretary-General, has expressed concerns over the continuous decline in Official Development Assistance (ODA) and has asked the nations to reverse the fall. In a progress report to the U.N. General Assembly on the Millennium Development Goals (MDGs), Mr. Ban expressed concern at the drop in ODA — which comes under MDG8, the global partnership — over the past two years. ODA fell by 4% in real terms in 2012, following a 2% dip in 2011, according to the Organisation for Economic Co-operation and Development (OECD). Since reaching a peak in 2010, ODA has fallen by 6% in real terms. As per the report, ODA will remain crucial to leverage other finance, particularly for the least developed countries and those emerging from conflicts and disasters. The report asks donors to establish a timetable for meeting ODA targets and enhancing the principles on development effectiveness, as set out in Busan, South Korea, where ownership of development strategy by aid recipients was emphasized.
What is Official Development Assistance (ODA)?
Official Development Assistance is defined as those flows to countries and territories on the the list of recipients of the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) and to multilateral development institutions which are: · · · · provided by official agencies, including state and local governments, or by their executive agencies; and each transaction of which: is administered with the promotion of the economic development and welfare of developing countries as its main objective; and is concessional in character and conveys a grant element of at least 25% (calculated at a rate of discount of 10% )
Ministry of Finance launches “STAR scheme”
August 20th, 2013
STAR: (Standard Training Assessment and Reward)
The Ministry of Finance launched the National Skill Certification and Monetary Reward Scheme that will be implemented on national level. The scheme will motivate the youth to acquire a vocational skill. The scheme is expected to benefit a million people in the first year of its implementation. The scheme which is promoted by the name STAR (Standard Training Assessment and Reward) envisages for a monetary reward to financially help those who wish to acquire a new skill or upgrade their skills to a higher level. The scheme will also be helpful for implementation of the National Skilling Mission which aims to add 500 million skilled Indians by the year 2022. While 150 million are expected to be contributed by the private sector working under National Skill Development Corporation (NSDC), 350 million will be contributed by 18-odd ministries at the Centre. The scheme has been started with Rs 1000 crore budget to benefit at least 1 million people. Under this scheme each tested and certified trainee will get an average of Rs. 10,000 to cover training costs.
National Skill Development Corporation
National Skill Development Corporation, a body under the Ministry of Finance, is one of its kinds public private partnership initiative with 51% equity held by private sector and 49% by the Union Government. Established in 2010, NSDC is a professionally run not-for-profit company that includes 22 Sector Skill Councils and 87 training partners with over 2500 training centres present in 352 districts in the country.
“Ug99 is not an immediate threat to India’s crops” – Scientist Ronnie Coffman
August 20th, 2013
As per noted scientist Ronnie Coffman from College of Agriculture and Life Sciences at Cornell University (US), India does not face any immediate threat from the Ug99 wheat rust disease that hits the stem of a wheat plant. However it has to be prepared.
What is Ug99?
Ug99 is a lineage of wheat stem rust (Puccinia graminis f. sp. tritici), which is present in wheat fields in several countries in Africa and the Middle East and is predicted to spread rapidly through these regions and possibly further afield, potentially causing a wheat production disaster that would affect food security worldwide. It can cause up to 100% crop losses and is virulent against many resistance genes which have previously protected wheat against stem rust. So far the Indian sub-continent had been safe. If the disease were to hitAfghanistan, Pakistan and India, it would hurt wheat availability around the globe. The spread of the wind-blown disease would depend on the west-east air flow pattern.
What are the possible remedies to tackle Ug99?
India, which has been one of the biggest sources of providing plant material for developing rust resistant varieties for the world, may use its rust resistant varieties of wheat to replace the wheat which is vulnerable to Ug99. Furthermore, the disease can be kept under control by surveillance and fungicide sprays with full participation of farmers.
What is the status of Wheat production in India?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The wheat production in India is steadily increasing and currently it is preparing to boost its output to a record level of 100 million tonnes in 2015. India is the second largest wheat producer and consumer in the world. In 2012-13, the country produced 92.46 million tonnes of wheat. This is 13.2% of the world’s production.
SEBI auctions Govt. debt securities worth $9.34 bn
August 22nd, 2013
With the aim to attract foreign investors towards Indian debt market, market regulator SEBI auctioned government debt securities worth $9.34 billion (Rs 58,264 core) and it received bids worth $10.4 billion (Rs 64,908 crore). The FIIs were in a trend of selling their holdings after the US announced that it would taper the the $85-billion-a-month bond purchase programme as early as next month and end it next year if the US economic recovery is up to its expectations. This is the biggest ever auction for such bonds and exceeds the previous record of Rs 42,022 crore, auctioned two months ago on June 20, and neutralizes the prevailing concerns in markets with regard to foreign investments. As per experts, the fall in the Indian currency has been instrumental in overseas investors exiting debt markets as the rising cost of hedging a volatile rupee hurt the yield differential the FIIs work with. With a view to attract foreign investments, the government recently raised the investment limits for FIIs in government debt to $30 billion, from $25 billion previously.
Government bans duty free TV imports by air travelers with further decline of Rupee
August 22nd, 2013
The government banned duty free import of flat screen television by air travelers with a view to control down sliding rupee which declined below the 63 level against US dollar. Air travelers, presently, can bring a flat screen television for personal use without paying any duty. The import of flat panel (LCD/LED/Plasma) television as part of free baggage allowance will be discontinued with effect from August 26, 2013. Thus in order to import TV buyers would need to pay the duty. Apart from this, in order to contain the Current Account Deficit (CAD)and control the declining value of rupee the government has raised duty on gold, platinum and silver to 10%. The steps would be taken to compress import of non essential goods.
RBI lowers remittance limit, discourage green card dreams
August 23rd, 2013
Taking further measures to reduce the burden on the already weakened rupee, RBI reduced the limit for remittances made by individuals to $75,000 from $200,000 per financial year and banned the purchase of property outside India. The rich Indians with a view to invest in abusiness or buy property in some foreign countries to gain permanent residency find their dreams crushed with this measure. Various countries and their conditions to afford a green card:
Countries such as the US, UAE, Australia, Bahamas, Spain,Mauritius and parts of Canada offer permanent residency and fast track green card to those who invest in businesses or property there. · · · · · The US EB 5 visa offers a fast track green card if one invests $500,000 in a business. Buying a property worth $500,000 one can get a permanent residency in the Bahamas. In Australia one has to invest $5 million to het the green card. In the UAE foreign property buyers are automatically given a three year residency permit. Canada’s Quebec province runs an investor programme which gives permanent residency to immigrants who can invest $800,000 in the province in the form of a guaranteed, interest-free loan.
Rafael Nadal and Azarenka win Cincinnati Masters title
August 23rd, 2013
Spanish tennis player Rafael Nadal beat American John Isner to win the ATP Cincinnati Masters for the first time and thus has become the first Spaniard to win in Cincinnati since Carlos Moya 11 years ago. This was his ninth title of 2013. He now ranks No. 2 in the world. In the women’s category, Victoria Azarenka defeated World No. 1 Serena Williams to claim the Cincinnati Masters title.
ISRO postpones GSLV launch due to glitch
August 23rd, 2013
The Indian Space Research Organisation (ISRO) cancelled Geosynchronous Satellite Launch Vehicle (GSLV) programme after imperfections in its indigenous cryogenic upper stage. The GSLV-D5mission to launch into orbit the advanced communication satellite GSAT-14 was dropped due to a fuel leak. The lift that was scheduled for 4.50 p.m. on August 19 from Sriharikota spaceport was just called off an hour before.
Why does the launch of GSLV-D5 hold significance?
GSLV-D5 has an indigenously built cryogenic engine which makes it special. The launch vehicle will place 1982-kg weighing GSAT-14 in orbit to signal India’s entry into an ivy league of nations with frontier capabilities of launching 2,000-2,500 kg class of advanced communication satellites in outer space. GSAT-14, the 23rd geostationary communication satellite built by ISRO, will join a line-up of nine Indian satellites to help provide a host of satellite based communication services, including tele-education and tele-medicine. · The satellite will enhance the in-orbit capacity of the extended C and Ku-band transponders in the INSAT-GSAT ecosystem to set the stage for new and exciting experiments driven by satellite-based communication.
India has developed this cryogenic engine as Russia denied India from providing a cryogenic engine.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
GSAT-14
· ·
Satellite with 6 extended C band and 6 Ku band transponders. It will enhance the communication transponder capacity
The previous two efforts of ISRO to launch the satellites GSLV-F06 carrying satellite GSAT-5P in December 2010 and GSLV-D3 carrying satellite GSAT-4 in April 2010 were not a success.
U.S. to help India deal with new security challenges
August 23rd, 2013
The U.S. has agreed to share its expertise with India in countering new security challenges mainly terrorism. The U.S. government has agreed to provide Indian officers of various agencies access to its specialized agencies under the Department of Homeland Security particularly the Georgia head-quartered Federal Law Enforcement Training Centres (FLETC) to help them deal with the changing face of international terrorism. According to this programme, the Indian officials and security officers would go through various courses like Cyber Security, Megacity Policing and Forensic. India seeks to build an army of experts who can handle new technologies and mechanism to deal with various kinds of terrorism and anti-national activities with the passage of time.
Focus of US training programmes:
· · ·
The U.S. programmes will deal with four aspects of terrorism: Global supply chain, transportation, port, border and maritime security Megacity policing and sharing of information among federal, State and local partners Illicit finance, smuggling of cash, financial fraud and counterfeiting
Cyber security and critical infrastructure protection.
What is “Megacity Policing”?
The U.S. has also offered India to help develop the concept of Megacity Policing with the growing population in cities and increasing threat perception and which is a step it has been promoting since the 9/11 attacks. An advance course in surveillance, control room design and its operation by various security agencies and police authorities are key elements of this concept.
Who will participate in the US-security training programmes?
The officials would be among the agencies and government departments including the National Security Council Secretariat, the National Investigation Agency, the Intelligence Bureau, the National Technical Research Organisation, the Central Bureau of Investigation, the paramilitary and State police forces, the Customs, the Narcotics Control Bureau (NCB), the Enforcement Directorate, the Directorate of Revenue Intelligence (DRI), the Ministry of Telecom and Information Technology, the Coast Guard and the Bureau of Civil Aviation Security.
Delhi, AP, Haryana and Uttarakhand launch Food Security Scheme
August 23rd, 2013
The State Governments of Delhi, Arunachal Pradesh, Haryana andUttarakhand have launched the Centre sponsored Food Security Scheme. The food security scheme aims at ensuring the poor to get essential food commodities such as wheat and rice at affordable prices including Rice at 3 Rs/kg, Wheat at 2 Rs/kg and Coarse grain at 1 Rs/kg. States and their objectives under the scheme: Delhi
The food security scheme would come into force from September 1, 2013 and will initially cover 32.27 lakh people which is about 20 % of Delhi’s population. This population currently gets wheat, rice and sugar at subsidised rates through the Public Distribution System (PDS). · The beneficiaries include people getting ration through PDS under the Antyodaya Anna Yojana, BPL, Jhuggi Ration Card (JRC) and Resettlement Colonies Ration Cards (RCRC) schemes. About 5.22 lakh beneficiary families are being given special cards. · · · · · Eldest woman in every eligible household will be treated as the head of the family for entitlements. The scheme will include homeless people, daily wage-earners, rag-pickers as well as people living in resettlement colonies and slum clusters in the first phase of the implementation of the scheme. No income tax payers, vehicle and house owners will be included in the scheme in the first phase. During the first phase the scheme will cover Antoyoda Anna Yojana families and all BPL families. The scheme would be implemented from September 1, 2013 throughout the State after scrutiny of initial list of beneficiaries. The Antoyada families will get 35 kilogram wheat whereas BPL families will get 5 kg wheat per member of the family at nominal price of 2 Rs/kg. The wheat would be distributed through 9174 fair price shops already operational in the State. · The scheme will benefit 126.49 Lakh people of the State. In rural areas 90 lakh 28 thousand people will be benefited whereas in urban areas the number of beneficiaries will be 36 lakh 21 thousand. Arunachal Pradesh · The scheme will cover 66.3% of rural and 51.55% of urban population in the State. Uttarakhand Haryana
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· Food security scheme covers 62% of population in the State.
India draws China’s attention towards trade imbalance issue
August 23rd, 2013
India raised the issue of heavy trade imbalance with China and sought immediate steps to facilitate Indian exports of pharmaceutical and agricultural products, buffalo meat and Information Technology (IT) services. Both the nations agreed that the working group on trade and economic cooperation should meet in September 2013 along with another working group on trade in services and trade statistics to implement the decision taken by the two sides. They also discussed about Joint Economic Group (JEG) meet likely to be held in late October 2013 in Beijing. India also sought Chinese investment in manufacturing in the National Manufacturing Investment Zones.
What is the task assigned to Joint Economic Group between India and China?
India’s trade imbalance with China.
The working group on the trade and economic cooperation is mandated to prepare an action oriented work plan for improving India’s import volume staggeringly exceeds its exports to China. During January- June 2013 India’s export to China stood at $5.42 billion whereas imports were $24.70 billion.
World Bank and India ink credit pact for Low income Housing Finance Project
August 23rd, 2013
The Government of India and the World Bank signed a $ 100 million credit agreement for providing assistance to Low Income Housing Finance Project aimed at helping low income households to secure loans to purchase, build or upgrade their dwellings. The project will be financed by a credit from the InternationalDevelopment Association (IDA) which is the World Bank’s concessionary lending arm which provides interest free loans with 25 years to maturity and a grace period of five years. National Housing Bank (NHB) will be responsible to carry out the project.
About Low Income Housing Finance Project:
· · · · · their dwellings.
It aims to provide access to sustainable housing finance for low income households to purchase, build or upgrade It strengthens government’s agenda of financial inclusion by making it easier for low income households in urban areas to access housing finance. It will also support financial institutions which target low income households and build their capacity to scale up sustainable housing finance. It will allow low-income households to switch from informal finance to longer-term, formal sources for their housing needs. The project funding is a financial intermediary loan for an implementation period of 5 years.
India’s sovereign outlook remains negative on S&P ratings
August 23rd, 2013
Global sovereign rating agency Standard & Poor’s said it will maintain negative outlook for the India as currency depreciation is adversely impacting investors’ confidence. They will maintain a negative outlook on India’s BBB sovereign credit ratings. S&P’s statement came when the rupee slid down to a record low of 64.11 to a dollar.
What is BBB?
BBB is the lowest investment grade and a downgrade would mean pushing the country’s sovereign rating to junk status making overseas borrowings by corporates costlier.
According to S&P:
· ·
India’s long term growth prospects could weaken on a sustained basis, with negative implications for the sovereign credit fundamentals.
The capital outflows and depreciating rupee is an indication of weakening investor confidence in India. This is a result of the declining economic growth in the past two years and insufficient long term policy response that could reverse the decline and revive investments.
Investments continue to be strangled by inadequateinfrastructure, rigidities in labour and product markets, and red tape, among other issues. · Future credit rating action would depend upon the response of policy-makers to the latest economic developments.
EC to use VVPAT system in Nagaland by polls
August 23rd, 2013
The Election Commission of India has decided to use Electronic Voting Machines (EVM) for the first time with Voter Verifiable Paper Audit Trail (VVPAT) in the September, 2013 by-poll to the Noksen Assembly constituency in Nagaland. The Government of India amended the Conduct of Election Rules, 1961in order to use VVPAT Systems.
What is Voter Verifiable Paper Audit Trail System (VVPAT)?
The VVPAT system is a new initiative of the Election Commission of India to ensure free and fair elections. · · The VVPT will enable voters to see a printout of their ballot thereby displaying the name, election symbol and serial number of the chosen candidate. However the voter will not be permitted take the printout home. In case there is a dispute about the voting and a petition is filed, the votes can be tallied electronically and physically with the ballot slips that fall into the compartment.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The cost of each VVPAT manufactured by Bharat Electronic Ltd. (BEL) and Electronics Corporation of India (ECIL) is estimated at about Rs. 12,000.
Indian Air Force land heavy lift aircraft in Daulat Beg Oldie
August 23rd, 2013
The Indian Air
Force landed
its C-130J
Super
Hercules transport
plane
at the
world’s
highest
and
recently
opened
airstrip at Daulat Beg Oldie (DBO) in Ladakh that is close to the Line of Actual Control (LAC) where Indian and Chinese troops had witnessed a three week stand-off in April 2013.
What does India’s landing C-130J Super Hercules at DBO show?
The landing of the heavy lift
aircraft at the world’s highest and recently opened airstrip at Daulat Beg Oldie
(DBO) demonstrates its ability to use the heavy-lift aircraft to induct troops, supplies, improve communication network and will also serve as a morale booster for maintenance of troops positioned at such heights in Ladakh region. It will put IAF in a better position to meet the requirements of our land forces which are heavily dependent on the air bridge for sustenance in these higher and inhospitable areas.
RBI takes measures to ease liquidity
August 23rd, 2013
RBI took a few measures to ease liquidity including Rs 8,000 crore bond buyback, to ensure adequate credit flow to the productive sectors of the economy to counter the surge in interest rates following its steps to support falling rupee.
RBI has decided to take following measures to ease liquidity:
Conduct open market purchase of government bonds of Rs 8,000 crore to inject liquidity. More Open Market Operations (OMO)would be undertaken when required. Retain the Statutory Liquidity Ratio (SLR) which is the portion of total deposits banks are required to park in G-Secs at 24.5 % to help banks reduce Market-to-Market (MTM) losses resulting from abnormal market condition. Relax SLR requirement by allowing banks to retain SLR holdings inHeld To Maturity (HTM) bonds category at 24.5 % until further instructions. Banks have the option of valuing these securities for the purpose of such transfer. As per RBI the hardening of long term yields has resulted in banks incurring large MTM losses in their investment portfolio and these MTM losses are partially resulting from abnormal market conditions and could be expected to be largely recouped going forward.
RBI eases portfolio investment scheme for NRIs
August 23rd, 2013
The Reserve Bank of India eased the rules governing portfolio investments such as equity and debt by Non-Resident Indians (NRIs) to pull in foreign currency. Under the Portfolio Investment Scheme (PIS) for NRIs, banks were given a unique code for each branch making it unwieldy for them to administer the scheme. Now, RBI has allowed banks to do away with the unique code for branches making banks free to administer the PIS scheme for NRI. As per the guidelines of the RBI: · · · The designated branch of the bank will grant a one-time permission to the NRI applicant for the purchase and sale of shares or convertible debentures of an Indian company. Two distinct permission letters (for repatriation basis and non-repatriation basis) shall be issued as per the prescribed format. The designated branch will open a separate sub-account of NRE/NRO account (opened and maintained by an NRI in terms of the Foreign Exchange Management (Deposit) Regulations, 2000) for the exclusive purpose of routing the transactions under PIS on behalf of an NRI. · · If NRI is eligible to make investment in India his resident power of attorney holder can be permitted by AD bank to operate NRE (PIS)/NRO (PIS) account to facilitate investment under the scheme. Shares or debentures purchased will be held and registered in the name of the NRI and the shares or debentures acquired by the NRI under the scheme will not be pledged for giving loan to a third party without prior permission of the RBI.
Banks must ensure that NRIs are not allowed to invest in any Indian company which is engaged or proposes to engage in thebusiness of chit fund, nidhi company, agricultural or plantation activities. NRIs investments can’t be made in real estate business excluding development of townships, construction of residential or commercial premises, roads or bridges, educational institutions, recreational facilities, city and regional level infrastructure, townships.
No proposal to increase FDI ceiling in banks
August 24th, 2013
The government has clarified that there is no proposal to raise foreign investment limit in the banking sector.
What is the current status of foreign investment in banking sector?
Currently, the aggregate foreign investment (FDI, FII and NRI) cannot be more than 74% in private sector banks while the limit is at 20% for nationalized banks, State Bank of India and its associate banks.
What is the status of FDI in insurance sector?
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The government intends to increase the FDI limit in insurance sector. For this it introduced the Insurance Laws Amendment Bill, 2008 in Parliament to increase it from current 26% to 49%. The coverage of life insurance in India has enhanced from 2.15% in 2001 to 3.17% which is above Brazil,Russia, Malaysia, Pakistan, China, Sri Lanka, Australia andGermany. However, the penetration is below France, Switzerland, the UK,the US, Japan, Singapore, South Korea, Taiwan and Hong Kong.
“Correlation between wealth and height true, but not always” – Research
August 24th, 2013
A new research shows that there is a direct correlation between how tall one would grow and how rich one’s State was when one was born. But the relationship between a State’s income and the height of its residents is growing weaker over time as a result of inequality within States. Faster growing States will not necessarily get healthier and taller at an equally fast rate if their inequality levels are high. Key observations of the study:
On a comparison of the Net State Domestic Product per capita (NSDP) with the height of the population in the State and otherhealth data obtained from two rounds of the National Family Health Survey (NFHS) in 1998-99 and 2005-06, it was found that there was a strong relationship between the NSDP for the year preceding the NFHS rounds and the heights of children aged 2 to 3. · Growth in NSDP per capita between the two rounds of the NFHS (1998-99 and 2005-6) was however not directly correlated with improvements in stunting.
Health improvement is a combined effort of socio-economicdevelopment, medical advancement as well as other factors like improvement in health facilities and women’s access. · Higher income States have almost the same average levels of inequality as lower income states and there is a strong correlation between income inequality and health problems.
Portal launched to facilitate RTI application filing in all Govt Ministries
August 24th, 2013
The government has launched a portal which will facilitate citizens to file RTI applications online in all central government ministries and departments. The web address of the portal is www.rtionline.gov.in The portal is a step to provide greater transparency in governance through the Right to Information Act which mandates timely response to citizen’s requests for government information. About the online RTI portal: · Currently the text of an application that can be uploaded in the prescribed column on the portal while filing application is restricted to 500 words. In case an application contains more than 500 words, it can be uploaded as an attachment.
An information seeker can submit a fee of Rs.10 via Internetbanking through State Bank of India (SBI) and its associate banks using the website. One can also use credit or debit cards. · An applicant will get an alert on the mobile phone about movement of the application. Answers to queries related to the portal can be sought on the telephone number 011- 24622461 during normal office hours.
Maharashtra govt. clears anti-superstition law
August 24th, 2013
The Maharashtra government decided to promulgate an ordinance to enact a long-pending bill to uproot black magic, blind faith and superstitious beliefs. The step has come following the death of anti-superstition activist Narendra Dabholkar . A prime supporter of the law, Dabholkar was shot dead in Pune which led to sparking outrage across the state. The Anti-Superstition Bill was first introduced in 1995 in the state legislature and was redrafted at least 29 times. Its clearance was delayed several times due to stiff opposition from various quarters’ especially Hindu groups which claimed it to be “anti-Hindu”.
Who was Narendra Dabholkar?
Narendra Achyut Dabholkar was an Indian rationalist and author from Maharashtra. He was the founder-president of Maharashtra Andhashraddha Nirmoolan Samiti (MANS) -”Committee for Eradication of Superstition in Maharashtra”, and campaigned against superstitions, confronting dubious tantriks and claimed holy men who promised ‘miracle cures’ for ailments. He criticized the country’s “godmen”, self-styled Hindu ascetics who claim to perform miracles and have many followers. He was the founding member of Parivartan, a rehabilitation centre located in Satara and served as vice president of the Federation of Indian Rationalist Associations (FIRA). Dabholkar was the editor of a renowned Marathi weekly Sadhana.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
India urges U.S. to renew GSP scheme
August 24th, 2013
India has expressed to the United States that it must issue an immediate renewal of the US Generalised System of Preferences (GSP) programme that expired on July 31, 2013.
What is the importance of the Generalised System of Preferences (GSP) programme?
The GSP programme helps developing countries expand their economies by increasing exports to the U.S. It also aids U.S. businesses by lowering the cost of imported goods that are used as inputs in value-added US production. U.S. businesses imported $19.9 billion worth of products under the GSP programme in 2012, including many inputs used in U.S. manufacturing. As per the recently released Trade Policy Agenda of the U.S. administration, helping developing countries grow and expand their economies through trade would also help the U.S. by providing its exporters greater opportunity to sell products to billions of new consumers abroad. The U.S. holds 16 % of India’s total services imports. Indian imports of US services is expected to rise sharply in the coming years as India’s middle class market expands and key services sectors bring in further reforms.
Bradley Manning sentenced to 35-year imprisonment
August 24th, 2013
The U.S. soldier Bradley Manning was convicted of the biggest disclosure of classified data in the nation’s history by leaking files to WikiLeaks and was sentenced to 35 years in prison.
Who is Bradley Manning?
Bradley Manning is a United States Army soldier who was arrested in May 2010 in Iraq on suspicion of having passed classified material to the website WikiLeaks. He was ultimately charged with 22 offenses, including communicating national defenceinformation to an unauthorized source and aiding the enemy. He was convicted in July 2013 of most of the charges, including several violations of the Espionage Act, but was acquitted of aiding the enemy, the most serious charge. Manning in 2010 turned over more than 700,000 classifiedfiles, battlefield videos and diplomatic cables to WikiLeaks,a pro transparency website. He was working as a low-level intelligence analyst in Baghdad when he handed over the documents thereby catapulting WikiLeaks and its founder, Julian Assange into the international spotlight.
Top tech cos join hands to launch ‘Internet.Org’
August 24th, 2013
Seven of the world’s tech giants (Ericsson, MediaTek, Nokia, Opera, Qualcomm and Samsung) collaborated to launch Internet.org with an aim to make Internet access affordable for people across the globe. The initiative will be headed by Facebook Founder and CEO, Mark Zuckerberg.
What is “Internet.org” ?
· · · · ·
Internet.org is an initiative of Facebook and six other technology giants, namely Ericsson, MediaTek, Nokia, Opera, Qualcomm and Samsung. The partners will collaborate towards developing lower-cost, higher-quality smartphones and deploying Internet access in undeserved communities. The endeavour is to overcome current challenges, including developing technologies that make mobile connectivity more affordable and decrease the cost of delivering data to people worldwide. The partners will develop joint projects, share knowledge, and mobilise industry and governments to bring the world
online. Focus will be on developing technologies that make mobile connectivity more affordable and decrease the cost of delivering data to people worldwide.
Sharing tools, resources and best practices, Internet.org partners will explore solutions in three major opportunity areas:affordability, efficiency, and business models. In order to achieve its goal of connecting the two-thirds of the world who are not yet online, internet.org will focus on three key challenges in developing countries: · · · Making access affordable (Affordability) Using data more efficiently (Efficiency) Helping businesses drive access (Business Models)
AFFORDABILITY No one should have to choose between access to the internet and food or medicine. Internet.org partners will join forces to develop technology that decreases the cost of delivering data to people worldwide, and helps expand internet access in underserved communities. EFFICIENCY Transmitting data—even a text message or a simple web page—requires bandwidth, something that’s scarce in many parts of the world. Partners will invest in tools and software to improve data compression capabilities and make data networks and services run more efficiently. BUSINESS MODELS
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Connecting billions of people will be a massive global effort that requires ongoing innovation. Developers, mobile operators and device manufacturers will work together to introduce business models that give people more ways to go online.
Asian currencies slide down on Fed signals
August 26th, 2013
With the indication by the Federal Reserve Bank of the US that the central bank could start scaling back its stimulus as early as September 2013 various Asian currencies fell as a response to this. The rupee continued to depreciate against the dollar and reached a new low of 64.55. Other Asian currencies who suffered the decline includeIndonesian rupiah; Malaysian ringgit Thailand’s baht, Philippine peso, Manila’s financial markets were closed from Monday to Wednesday due to heavy rains and a holiday when most of its Asian peers fell.
What is the impact of Fed Bank’s decision to taper the stimulus?
The U.S. economy generated a wave of cheap money when it introduced quantitative easing to tackle global financial crisis of 2007. The cheap money moved into emerging market currencies, equities and bonds. The recent Fed Bank indication of a phased withdrawal of its stimulus package currencies across the region has made foreign investors to sell their stakes and withdraw the money. Foreign investors have been pulling money out of India as the economy has slowed down and the cost of borrowing in dollars has risen.
Afghanistan permits SAIL to develop Hajigak assets in phases
August 26th, 2013
Afghanistan conveyed the SAIL-led team that it did not have any objections to the $10.8 billion iron ore and steel plant project being developed in phases in Hajigak Mine.
Where is Hajigak mine?
Hajigak Mine is the best known and largest iron oxide deposit in Afghanistan is located at Hajigak in Bamyan Province, it is also Asia’s biggest untapped iron ore deposits.The deposit itself stretches over 32 km and contains 16 separate zones, up to 5 km in length, 380 m wide and extending 550 m down dip, seven of which have been studied in detail. The ore occurs in both primary and oxidized states. The primary ore accounts for 80% of the deposit and consists of magnetite, pyrite and minor chalcopyrite. The remaining 20% is oxidized and consists of three hematitic ore types.
Who is developing the Hajigak mining project?
The project is being developed by Afghan Iron and Steel Consortium (AIFSCO) which won the bid for the project in 2011. AIFSCO which consists of state-owned SAIL, RINL and NMDC is holding a combined 56%stake. The balance is held by private firms such as JSW, JSPL and Monnet Ispat & Energy. AIFSCO will set up a steel plant of 1.25 mtpa and a 120 MW captive power plant with $2.9 billion investment. The investment is likely to be between $10 billion and $11 billion. It will be done in phases. Steel plant will be developed in phases and it will be of 7 mtpa size. The local government would also allow the SAIL-led team to market its products in the neighbouring region. Afghanistan’s annual steel demand now stands at 1-1.5 mtpa. However, the demand would go up while rebuilding the war-torn nation.
Offshore markets affecting rupee fluctuations
August 27th, 2013
The RBI stated in its annual report that the Non-Deliverable Forwards (NDF) markets are exerting more pressure on the onshore currency market, especially when rupee is under stress. The rupee has nearly declined 21 % so far this fiscal. As per RBI, during the period of the rupee fall the shocks originating in the NDF market may carry more information which is mirrored in the onshore segments of the market through mean and volatility spill over. It further says that during the period of the rupee appreciation the NDF market and the rupee spot market exhibit a bidirectional relationship. However at times of rupee fall relationship turns unidirectional from the NDF to onshore market.
What is NDF (Non-Deliverable Forwards)?
Non-Deliverable Forwards (NDF) is a foreign exchange derivative instrument traded over the counter and is operated in currencies that are not freely convertible such as the rupee. The market enables hedging of exchange rate risks irrespective of any restrictions arising in the currency of origin.
Government approves bill to change collegium system
August 27th, 2013
The government has decided to scrap the collegium system of appointing judges to the Supreme Court and High Courts. The Cabinet approved a bill which proposes replacing the collegium system with a Judicial Appointments Commission wherein the government will have a say in appointment of judges of the Supreme Court and the 24 high courts.The government seeks to set up a panel headed by the Chief Justice of India (CJI) to appoint and transfer senior judges.The other members of the proposed Commission would be two judges of the Supreme Court, the Law Minister, two eminent persons as members and Secretary (Justice) in the Law Ministry as Member Secretary.The leader of the Opposition will not be part of the proposed body as per the bill in its current form.
Cabinet agree to nullify apex court’s verdict on lawmakers
August 27th, 2013
The Union Cabinet agreed to two proposals which will allow those in jail to contest elections and also allow convicted MPs and MLAs to retain their membership during the pendency of their appeals even as they will be barred from voting or drawing a salary. The two proposals were approved in the form of amendments to the Representation of the People Act.
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Why this move by the Union Cabinet ?
contesting elections. 1. An MP, MLA or MLC cannot be disqualified after conviction if he or she files an appeal within 90 days from the date of conviction and such a conviction is stayed by the court. As per the draft bill, a provision added to sub-section (4) of section 8 of the RP Act makes it clear that the convicted member shall continue to take part in proceedings of Parliament or State legislature but he or she shall neither be entitled to vote nor draw a salary and allowances till the appeal or revision is finally decided by the court. 2. It adds a provision to sub-section (2) of section 62 of the RP Act to state that a person cannot cease to be a voter while in detention as his or her right is only temporarily suspended. It further states that as the name of the jailed person continues to be on the electoral rolls he or she also continues to be an elector and can file his nomination for an election.
The move is targeted to negate the two Supreme Court’s verdicts which barred convicted persons and those in jail from
The two proposed amendments to Representation of the People Act:
CCEA cleared 3.1 million tonnes of extra foodgrain for States under Food Security Scheme
August 27th, 2013
The Union Government of India declared that it will provide an extra 3.1 million tonnes of food grains to the states under the Food Security Programme at Above Poverty Line (APL) rates. The decision to provide extra food grains at APL rates was decided in a meeting ofCabinet Committee on Economic Affairs (CCEA). The APL rates for extra food grains are 1 rupee and 30 paise per kg for rice and 6 rupees and 10 paise per kg for wheat for the 18 states including Kerala, Tamil Nadu, Andhra Pradesh, Delhi and Jammu and Kashmir. The supply of extra food-grains will cost the exchequer nearly 5100 crore rupees annually.
Hysterectomies will be a part of health survey
August 27th, 2013
The government will collect information on Hysterectomies in the National Family Health Survey (NFHS) in the 4th round which is scheduled in January 2014.
What is “Hysterectomy”?
Hysterectomy is the complete or partial removal of the uterus and sometimes ovaries, cervix and fallopian tubes, usually performed by a gynecologist. Hysterectomy may be of two types: a) Total i.e. removing the body, fundus, and cervix of the uterus; often called “complete”. b) Partial i.e. removal of the uterine body while leaving the cervix intact; also called “supracervical”.
Why is Hysterectomy performed?
Hysterectomy is opted for if the uterus is causing health problems that cannot be treated by other means. Some reasons a woman may have a hysterectomy are to: · · · · Treat cancers such as uterine , endometrial, or ovarian cancers Remove uterine fibroids -common, benign (noncancerous) tumors that grow in the muscle of the uterus Treat chronic pelvic pain Treat heavy bleeding
Why hysterectomies is being included in the National Family Health Survey (NFHS) ?
The step has been taken keeping in view the demand from the health activists and medical practitioners following reports of rising cases of hysterectomies across the country. According to the activists deceitful doctors were performing hysterectomies on pre-menopausal and even women younger than 30 years for monetary gains.
The data generated during the NFHS could be used for formulating guidelines to conduct surgeries for removing the uterus. Hysterectomy may have a significant impact on woman’s health. So the rising concern is not just about the high expenditure and medical ethics but also about the complications and troubles that follow. Presently there are no exact statistics to show the prevalence rate of these operations and it is believed that they are thesecond most common surgeries performed on women, second only to caesarean sections.
England wins Ashes 2013
August 28th, 2013
England clinched Ashes 2013 series with 3-0 win over arch-rivalsAustralia. The fifth and last test match played at the Oval stadium ended in a draw.
Key Players of Ashes Test Series 2013:
Man of the Series (England): Ian Bell Man of the Series (Australia): Ryan Harris
International Children’s Peace Prize 2013 goes to Malala Yousafzai
August 28th, 2013
Famous Pakistani brave girl and activist Malala Yusafzai who was shot in head by Taliban for campaigning for girls’ right to education, has won the prestigious International Children’s Peace Prize 2013. She is currently living in Britain where she was given life-saving treatment.
About International Children’s Peace Prize:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
The International Children’s Peace Prize is awarded every year to a child who has made a remarkable contribution to advocating children’s rights and improving the condition of vulnerable children such as orphans, child labourers and children with HIV/AIDS.
Who established International Children’s Peace Prize ?
in Amsterdam, theNetherlands.
The prize was established by the Kids Rights Foundation, an international children’s aid and advocacy organization based
Who was the first child to get International Children’s Peace Prize?
In 2005, the first International Children’s Peace Prize was awarded to Nkosi Johnson posthumously. He was a South African boy who brought international attention to children with HIV/AIDS and founded the Nkosi’s Haven home for HIVpositive mothers and children.
Brigalia Bam honored with Gandhi Peace Prize
August 28th, 2013
Brigalia Bam, former head of South Africa’s election body, received the prestigious Mahatma Gandhi International Award for Peace and Reconciliation recognizing her commitment to democracy. Bam was conferred with this honor for ensuring free and fair elections since the establishment of democracy in 1994 when anti-apartheid icon Nelson Mandela was elected the country’s first democratic president.
About Mahatma Gandhi Peace Prize:
The Prize was established in 2003 to mark the centenary of Indian Opinion, a newspaper started by Mahatma Gandhi in South Africa. He began his socio-political life in the country and fought for justice, peace and reconciliation.
Parthasarathi Shome appointed as chairman of TARC
August 28th, 2013
The government has set up a 7-member Tax Administration Reform Commission (TARC) which will be headed by Parthasarathi Shome.
What will be major tasks before Tax Administration Reform Commission (TARC) ?
other key taskswill be:
The TARC will revisit tax laws and suggest measures for putting in place a stable and non-adversarial tax administration. Some
Review the current mechanism of dispute resolution covering time and compliance cost and recommend steps for strengthening them for both domestic and international taxation. · · Reviewing the existing mechanism and recommend measures for deepening and widening the base of tax and taxpayers. Suggest a system to enforce better tax compliance — by size, segment and nature of taxes and taxpayers, that should cover methods to encourage voluntary tax compliance.
Suggest measures for strengthening the database and inter-agency information sharing, not just between the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC) but also with the banking and financial sector and other agencies such as Central Economic Intelligence Bureau (CEIB), Financial Intelligence Unit (FIU) and Enforcement Directorate to ensure improved tax compliance through sharing of such information.
First Typhoid vaccine promising long-term protection launched by Bharat Biotech
August 28th, 2013
Hyderabad based Bharat Biotech launched world’s first clinically proven typhoid conjugate vaccine, Typbar – TCV.
How Typbar-TCY is different from existing vaccines?
·
Typbar-TCV has a sharp edge over the existing typhoid vaccines as the latest conjugate vaccine provides long-term
protection — for about 10 years — with a single dose. World over around 200 lakh people are affected annually by typhoid, out of which around 2 lakh die. About 62% of these were in Pakistan andIndia.
Solution for Global Hunger: Study shows instant noodles can play key role to battle global hunger
August 28th, 2013
Instant Noodles a solution to Global Hunger:
As per a latest study by Deborah Gewertz, Professor of Anthropology at Amherst College in US, instant noodles can play a significant role in combating the challenge of global hunger which is aggravating with the increasing population. The study examines the history, manufacturing, marketing and consumption of the ubiquitous foodstuff and suggests that instant noodles will have an increasingly important global role in the future. As per the study, instant noodles are served in variable forms and have already shown a remarkable potential to be a part of diverse lives. Researchers expect that the calories provided by the tasty, convenient, cheap, shelf-stable, industrially prepared instant noodles will remain important as food becomes scarcer in the future.
What is the origin of Instant Noodles?
Instant noodles were invented by Taiwan-born inventor Momofuku Ando in Japan. They were first marketed on August 25, 1958, by Ando’s company Nissin under the brand name Chikin Ramen. In India the most popular brand is Nestle’s Maggi which is regarded in popular culture as a two-minute noodle.
Current Affairs: Top Headlines for August 29, 2013
August 29th, 2013
Rupee decline to make cars, consumer durables costly
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
With rupee continuously loosing against dollar, cars, TVs, washing machines and other consumer durables are likely to cost more with companies set to increase prices to offset impact on their margins. Car-maker General Motors India, Godrej Appliances and Haier indicated that they would increase prices of their products by 2% to 7%.
Rupee tumbles to new low of 68.85
The rupee fell to an all-time low of 68.85 against the dollar and closed at 68.80, recording its biggest single-day loss of 256 paise, as global oil prices soared, aggravating concerns about the Current Account Deficit (CAD) and capital outflows. The rupee is under pressure due to consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices.
NASA uses Chandrayan’s data to detect water on Moon
Scientists from the US space agency NASA have detected magmatic water under the Moon’s surface. They used the data collected by the Moon Mineralogy Mapper (M3) instrument aboard the Indian Space Research Organisation’s (ISRO) Chandrayaan-1 spacecraft, to remotely detect magmatic water, or water that originates from deep within the Moon’s interior, on the lunar surface.
Stage set to launch India’s first defence satellite
India’s first defence satellite GSAT-7 dedicated to Navy for maritime security is now set for the launch. The home-built satellite will be crucial as it will overcome Navy’s previous limitations from line of sight and ionospheric effects and will have coverage over India landmass as well as surrounding seas. It will be significant from security and surveillance points of view. The satellite will be launched into Geosynchronous Transfer Orbit (GTO) by Ariane-5 VA 215 by European space consortium Arianespacefrom Kourou spaceport in French Guiana.
India engages with US for quick renewal of GSP
India is in talks with the U.S. for speedy renewal of Generalised System of Preferences (GSP) programme, which had expired on July 31 2013, to enable duty-free imports from the country. Though the US has indicated that it was for renewal of GSP programme till September 2015 but India administration is perturbed over the delay which hampers India’s exports to US. Due to pending GSP regime Indian exports are subject to U.S. import duties.
India overtakes Japan to become world’s 3rd largest Internet user
As per a report by global digital measurement and analytics firm comScore, India has left Japan behind to become the world’s third largest Internet user after China and the United States. The report says that India now has nearly 74 million Internet users which marks a 31% increase over March 2012. With 3/4th of India’s online population under 35, the report shows, it is significantly younger than those of other emerging economies.
Government constitutes task force for currency swap arrangement
Feeling the heat of the continued fall in the value of rupee and soaring CAD, the Commerce and Industry Ministry has set up a task force which has representatives from the Ministry, Department of Economic Affairs, Reserve Bank of India (RBI), SBI, industry bodies FICCI, CII and Federation of Indian Exporters Organisation (FIEO) to plan currency swap arrangements with key trading partners of India.
Titan to venture into helmets, perfumes markets
Titan has planned enter into helmet and fragrance market by 2014. It projected a strategy to market superior quality ecofriendly helmets which will be suitable in tropical conditions. Titan which is a joint venture of Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) is India’s renowned watch, jewellery and eyewear maker.
India considers Iran for its oil import to slash import bill, CAD
With rupee declining to record lows impacting the import bill and CAD severely, the Oil Ministry has formulated a plan to save $22 billion in the oil import bill from Iran thus helping slash the Current Account Deficit (CAD). Due to sanctions on Iran, India has not been buying crude petroleum from the country for past few months. The step, if taken, would significantly save Indian foreign as India paysIran in rupees. Looking at the current depreciation of the rupee against the dollar, India is negotiating with Iraq the possibility of trade in local currencies, which would help insulate India’s oil imports from Iraq also.
Complaint against SBI for shaming students to be looked upon by the RBI
India’s largest public sector bank SBI is in bad light as complaint was made against the bank for shaming the students and their parents for defaulting on their education loan. The complaint which alleged that the Bodinayakanur branch of SBI in Theni district in Tamil Nadu displayed photos of students and their parents for defaulting on their educational loans is being looked into by the RBI.
Iran to take legal action against US over 1953 coup
August 30th, 2013
Iran has approved a bill that intends to sue the U.S for its involvement in the 1953 coup d’état that toppled the country’s democratically elected Prime Minister. The bill comes following the release of latest declassified documents revealing more details of how the CIA masterminded the overthrow of Prime Minister Mohammed Mossadegh 60 years back. The bill proposes for establishing a panel to investigate the issue and submit a report within 6 months before legal action is initiated against the U.S. government in an international court.
What was the revelation on Iran’s 1953 coup? What was “Operation Boot” (U.K.) and operation “TPAJAX Project” (USA)?
The 1953
Iranian
coup
d’état which
overthrew the democratically
elected government
of
Iran,
and
its head
of
government Prime Minister Mohammad Mosaddegh was orchestrated by the United Kingdom (under the name ‘Operation Boot’) and the United States (under the name TPAJAX Project). The CIA in August 2013 admitted that it was involved in both the planning and the execution of the coup, including the bribing of Iranian politicians, security and army high-ranking officials,
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
as well as pro-coup propaganda. The CIA acknowledged that the coup was carried out under its direction and was an act of U.S. foreign policy, conceived and approved at the highest levels of government. The coup reinstated the autocratic regime of Shah Mohammad Reza Pahlavi. He was later brought down in the 1979 Iranian revolution.
Top Headlines for August 30, 2013
August 30th, 2013
Melbourne tops the list of liveable cities in world
According to a survey conducted by the Economist Intelligence Unit, the Australian city of Melbourne is the most liveable city in the world while conflict battered Syria‘s capital Damascus is the least liveable city. The survey also lists Karachi and Dhaka among the least liveable cities.
HDFC Bank expands its rural business
HDFC Bank further expanded its rural presence by announcing the launch of 18 new rural branches in Haryana, taking its total network to 200 branches in the state. Of the 18 new branches 14 are in unbanked places which will bring formal banking services to around 90,000 people in the state. At the national level, the bank has 53% of its branches in semiurban and rural areas supporting the idea of inclusive growth.
Rupee could depreciate to 75, more measures needed: BofA-ML
According to a report by Bank of America Merrill Lynch (BofA-ML), if the current stance towards declining rupee is maintained then the scenario could be worse, rupee could touch 75 per US dollar by the end of 2014. It suggested the Reserve Bank of India (RBI) to take more pro-active measures to rebuild forex reserves. It also suggested the RBI to launch a scheme to attract significant forex inflows where the INR risk would be borne by the RBI to comfort investor confidence like issue of NRI or sovereign bonds or reviving FCNRA deposits.
National Sports Day celebrated across India
August 29 was celebrated as National Sports Day across the country to commemorate the birth anniversary of “the Wizard” of Hockey, Major Dhyan Chand. Various sporing events were organized across the nation to mark the day. It was 118th birth anniversary of Dhyan Chand, the legend who helped India win three Olympic gold medals in 1928, 1932, and 1936.
Scientists discover Sun’s twin
An 8.2-billion-year-old twin of the Sun has been discovered by the astronomers. Astronomers in Brazil used ESO’s Very Large Telescope to locate the star HIP 102152 located 250 light-years away. It is very similar to the Sun- except that it is nearly four billion years older. Studying the ancient star allows researchers to predict what may happen to our own Sun when it reaches that age. Rupee registers biggest single-day gain in 15 years with RBI’s intervention With the step taken by the Reserve Bank of India to open a special dollar facility for PSU oil firms, the rupee, which is under severe pressure, posted sharp 225 jump to end at 66.55 against the dollar and the sensex increased by over 400 points. The dollar facility will allow PSU oil companies to buy dollars directly to pay for the import of petroleum.
Right to Education anthem launched by Ministry of HRD
With a view to disseminate the message of Right to Education, the Human Resources Development Ministry launched an
anthem on the same which ideates to make education for children interesting and friendly. The ministry hopes that children will now imbibe the RTE message from popular public figures in a musical form. The anthem will be dubbed in English and 15 regional languages.
Second quarter brings sharp growth for US GDP
The U.S. Gross Domestic Product (GDP) speeded up more quickly than expected in the second quarter owing to increase in its exports, strengthening the case for the Federal Reserve Bank to taper the quantitative easing programme started in 2008 global financial crisis. As per revised estimates GDP rose at a 2.5% annual rate. The quarter’s growth rate was more than double the growth rate recorded in the previous 3 months.
Government approves RIL’s $3.18 bn gas field development project with BP
The Reliance Industries Ltd. and Bharat Petroleum’s plant invest $3.18 billion in the development of R-series gas field in the KG-D6 basin, which is expected to produce up to 13 million standard cubic meters gas, has been given government’s approval. The government has asked the operator to fast track the development of R-series discoveries to reverse falling output from the block, which declined to around 14 mmscmd from 62 in March 2010. At present, gas is produced from D1, D3 and MA fields in the KG-D6 block.
LIC raises it shareholding in SBI to 13.26%
Insurance giant Life Insurance Corporation (LIC) has increased its equity stake by 2.86% in the country’s largest public sector bank State Bank of India from 10.4 % to 13.26% by buying 19.57 lakh shares from open market. The additional stake would have been acquired by paying Rs 49.15 crore at current market price. With this, the equity share capital of the LIC has increased to Rs 684.03 crore from Rs 634.88 crore.
Stage set to launch India’s first defence satellite
August 30th, 2013
India’s first defence satellite GSAT-7 dedicated to Navy for maritime security is now set for the launch. The home-built satellite will be crucial as it will overcome Navy’s previous limitations from line of sight and ionospheric effects and will have coverage over India landmass as well as surrounding seas. It will be significant from security and surveillance points of view.
Key features of GSAT-7:
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
· · · · · · · · Indigenous Cost: Rs 185 crore Launch Cost: Rs 470 crore Geo-stationary communication satellite Carries payloads operating in UHF, S, C and Ku bands. Lift-off mass of 2625 kg, heavy satellite Strengthen Navy’s maritime security ability Overcomes previous limitations from line of sight and ionospheric effects
The satellite will be launched into Geosynchronous Transfer Orbit (GTO) by Ariane-5 VA 215 by European space consortium Arianespacefrom Kourou spaceport in French Guiana.
NASA uses Chandrayan’s data to detect water on Moon
August 30th, 2013
Scientists from the US space agency NASA have detected magmatic water under the Moon’s surface. They used the data collected by the Moon Mineralogy Mapper (M3) instrument aboard the Indian Space Research Organisation’s (ISRO) Chandrayaan-1 spacecraft, to remotely detect magmatic water, or water that originates from deep within the Moon’s interior, on the lunar surface.
What is Moon Mineralogy Mapper (M3)?
The Moon Mineralogy Mapper (M3) was one of two instruments that NASA contributed to India’s first mission to the Moon, Chandrayaan-1, launched on October 22, 2008. The instrument was managed by NASA’s Jet Propulsion Laboratory. M3 imaged the lunar impact crater Bullialdus, which lies near the lunar equator. In 2009, M3 provided the first mineralogical map of the lunar surface and discovered water molecules in the polar regions of the Moon.
India overtakes Japan to become world’s 3rd largest Internet user
August 30th, 2013
As per a report by global digital measurement and analytics firm comScore, India has left Japan behind to become the world’s third largest Internet user after China and the United States. The report says that India now has nearly 74 million Internet users which marks a 31% increase over March 2012. With 3/4th of India’s online population under 35, the report shows, it is significantly younger than those of other emerging economies. Some facts: · · · · · · As per Telecom Regulatory Authority of India (TRAI) India has 164.81 million Internet subscribers as of March 31, 2013, with seven out of eight accessing the Internet from their mobile phones. As per comScore mobile and tabled-based Internet traffic is at just 14% of the total. Men under 35 and women between 35 and 44 are heavier users. Women account for less than 40% of all Indian users, a much lower sex ratio than that of other nations. Users spend one-fourth of time spent online on social media and another 23% on email. While Google sites have the most unique visitors, internet users spend the most time on Facebook, which is at second place when it comes to unique visitors.
Indian railways website most popular in the category of online travel websites. · · Asia provides 41% of all Internet users; the United States accounts for just 13%. China is the largest user of Internet even as it outnumbers Indians by a ratio of 5: 1.
Researchers grow tiny brain cells in test tubes
August 30th, 2013
In a latest development in the field of Bioscience, scientists have grown mini human brains in test tubes, which will serve as a tool for them watch the development of brain in embryonic stage. They are hopeful that it will enhance their understanding of neurological and mental problems. These miniature human brains are the “cerebral organoids” which are a few millimetres across and are composed of layers of brain cells with defined regions that is similar to those seen in immature embryonic brains.
How would growing brain cells in test tube be useful?
The organoids grown in test tubes would aid scientists who want to analyze how disorder such as schizophrenia or autism occurs in the brain; though these are usually found in elderly people some of the underlying defects occur during the embryonic stage of brain’s development. These organoids are expected also to be useful in the development and testing of drugs.
Top Headlines for August 31, 2013
August 31st, 2013
Pakistan and Russia initiate Strategic Dialogue
Pakistan and the Russia held their first ever Foreign Secretary level interaction on the Strategic Dialogue in Moscow. Foreign Secretary of Pakistan Jalil Abbas Jilani and First Deputy Minister Vladimir Gennadievich Titov of the Russia participated in the talks. The discussion focused on regional and international issues, besides expanding trade and investment relations and cooperation in the field of energy and power generation.
Nobel laureate Seamus Heaney passed away
Source: www.gktoday.in
Current Affairs – August 2013 from GKToday
Legendary Irish poet and winner of Nobel Prize in literature 1995, Seamus Heaney (74) passed away. Heaney’s award winning work focused on themes including his rural nurturing, the problems in Northern Ireland and the sense of community in his native Ireland. His notable works includeDeath of a Naturalist, District and Circle, the Spirit Level, and Beowulf. The government plans to release a notification to nearly 5 lakh employees prohibiting them from using email services such as Gmail that have their servers in the US, and instead directing them to use the official email service provided by India’s National Informatics Centre. The step comes in the wake of revelation of widespread electronic surveillance programmes for spying being run by various countries including the US. Former NIA contractor and whistleblower Edward Snowden recently revealed that through the surveillance programme PRISM the US government had been directly accessing vast amounts of personal data on the Internet such as emails and chat messages from companies like Google, Facebook and Apple.
Government to bar its employees from using Gmail
India’s fiscal deficit is around 63% of target
As per government data, India’s fiscal deficit during the April-July period was Rs 3.41 trillion ($50.91 billion), or 62.8% of the full-year target. Net tax receipts for the first 4 months of the current fiscal year to March 2014 touched Rs 1.45 trillion, while total expenditure was Rs 5.21 trillion. India’s fiscal deficit during the 2012-13 fiscal year ending March decreased to 4.9% of the country’s GDP, compared to 5.8% in 2011-12. The fiscal deficit target is 4.8% of GDP for the current fiscal year.
India registers 4.4% GDP growth in Q1 slowest in 4 years
The first quarter of the current fiscal has been slowest in over 4 years with GDP growth of 4.4%. The decline implies a deepening slowdown and aggravating the widespread negative sentiment brought on by the sharp depreciation of rupee depreciation and plunging stock markets.
Exclusive satellite for Indian Navy GSAT-7 launched
The European Ariane 5 rocket put it space India’s first military communication satellite GSAT-7 which was launched from the Kourou space port of French Guiana space in South America. The satellite will serve exclusively to Indian Navy. The satellite is expected to enhance the country’s maritime security and intelligence collection by covering a wide region on either coasts of the Indian Ocean region.
7000 tickets/min will be the booking speed of IRCTC website
The Centre for Railway Information System is developing ‘next generation’ e-ticketing system for IRCTC’s website which will have an efficiency to book 7200 tickets e-tickets per minute. It will render the website to perform faster and hassle free access even at peak time and have high availability and business continuity, scalability to meet the needs of future growth and security to prevent frauds and unauthorized access.
‘Mars One’: 8,000 Indians register for one-way trip to the Red Planet
So far 8,107 Indians have registered for the one-way trip to Mars and to live on the red planet, as ‘Mars One’ project is planning to set up a colony there in the next 10 years. A not-for-profit initiative, ‘Mars One’, intends to establish a permanent human settlement on Mars in 2023 and is signing up those inclined to fly there. India has fourth highest number of participants among other nations of the world. The top 10 nations to register are the USA (37,852), China (13,124),Brazil (8,686), India (8,107), Russia (7,138), Britain (6,999), Mexico(6,771), Canada (6,593), Spain (3,621) and Philippines (3,516).
RBI permits premature encashment of 8% Savings (Taxable) Bonds
As per a atetment released by the Reserve Bank of India, individual investors who are 60 years are allowed to avail premature encashment of 8% Savings (Taxable) Bonds. This facility is available after a minimum lock-in period of 3 years from the date of issue. Those desiring to avail of the facility will have to submit documentary evidence in support of his/her date of birth to satisfaction of the agency bank.
Saudi Arabia makes domestic violence a criminal offence
The cabinet of Saudi Arabia approved a new law that criminalizes domestic violence, usually targeting women and children. The Protection from Abuse law is meant for protecting people from all forms of abuse and providing them shelter as well as social, psychological, and medical help.
Source: www.gktoday.in
