Current Affairs for SSC CGL Exams - 08 December 2017

Bank Exam Current Affairs

Current Affairs for SSC CGL Exams - 08 December 2017

::National::

Kumbh mela incorporated in intangible heritage

  • After ‘yoga’ and ‘Nouroz’, Kumbh Mela/ KumbhMela, the largest congregation of pilgrims on the planet, has been listed as an Intangible Cultural Heritage under UNESCO (United Nations Educational, Scientific and Cultural Organisation).
  • The Ministry of External Affairs said the inscription of ‘Kumbh Mela’ in the list was undertaken following recommendation by an expert body which examines nominations submitted by member countries of the UNESCO.\
  • “The Intergovernment Committee for the Safeguarding of the Intangible Cultural Heritage under UNESCO has inscribed ‘Kumbh Mela’ on the Representative List of Intangible Cultural Heritage of Humanity during its 12th session held at Jeju, South Korea from 4-9 December 2017.
  • This inscription is the third in two years following the inscriptions of ‘Yoga’ and ‘Norouz’ on 1st December 2016,” said the Ministry of External Affairs in a press statement.
  • The Kumbh Mela is held in Haridwar, Allahabad, Ujjain and Nashik.

Delhi High court says Minister’s don’t come under RTI

  • The Delhi High Court has set aside the Central Information Commission order declaring Ministers as “public authorities” and answerable under the Right to Information law.
  • Justice Vibhu Bakhru overturned the March 12, 2016, CIC verdict saying “there was no occasion for the CIC to enter upon the question as to whether a minister is a 'public authority' under Section 2(h) of the Act”.
  • “Further, directions issued by the CIC are also wholly outside the scope of the matter before the CIC,” the judge said, adding that the order cannot be sustained and was, accordingly, set aside.
  • The High Court’s order came on the Centre’s appeal against the CIC order.
  • The case emanates from an application filed by a Maharashtra resident who wanted to know how to get an appointment with the Union Law Minister.

NGT held the Art of Living responsible for damaging the Yamuna floodplains

  • The National Green Tribunal held the Art of Living responsible for damaging the Yamuna floodplains by organising the World Culture Festival in March 2016.
  • The green panel, however, did not impose any additional penalty on the organisation and said that the amount of Rs. 5 crore submitted by it earlier would be used for the restoration of the floodplains.
  • A Bench headed by NGT Chairperson Swatanter Kumar said, “We hold and declare that respondent number 3 (Art of Living) is responsible for causing damage and environmental degradation of the floodplain of river Yamuna limited to the area that was awarded to it by DDA and the State of Uttar Pradesh.”
  • The Tribunal also pulled up the Delhi Development Authority (DDA) for “failing to exercise its statutory duty in consonance with the environmental laws in force”.
  • “We would have imposed environmental compensation upon the DDA as well, but keeping in mind that it has already planned the construction of a biodiversity park and improvement of floodplains from its funds, we do not impose any further compensation upon it,” said the NGT Bench while pronouncing the judgment.
  • It directed the DDA to carry out restoration and other necessary works under the guidance of the experts’ committee which prepared the report on the degradation to the floodplains.
  • The green panel held that the Rs. 5 crore deposited by the Art of Living shall be utilised by the DDA for restoration of the floodplains.
  • “In the event that the expenditure for that purpose is found to be in excess of Rs. 5 crore, the DDA would be at liberty to recover the said amount and respondent number 3 shall be liable to pay the amount,” read the judgment.
  • The Bench also added that if the total expense incurred is less than Rs. 5 crore, the remaining amount will be refunded to the organisation.
  • The Art of Living, however, expressed its “disappointment” over the NGT order in a statement issued. “We do not agree with the verdict. Our submissions have not been dealt with or considered. We will appeal to the Supreme Court.”
  • “The Art of Living has always abided by the directions of the honourable court and the authorities who extended permission to hold the festival,” the organisation said.

India said its policy on Palestine is independent of any other country

  • A day after U.S. President Donald Trump recognised Jerusalem as the capital of Israel, India maintained a cautious stance saying its policy on Palestine is independent and not determined by any “third country”.
  • India’s response to Mr. Trump’s statement came even as the Palestinian Ambassador to India declared that his country is likely to host Prime Minister Narendra Modi in near future.
  • “India’s position on Palestine is independent and consistent. It is shaped by our views and interests and not determined by any third country,” said the official spokesperson in a statement to the media here.
  • India has traditionally supported an independent Palestine as part of a two-state solution. The statement however did not specifically address the issue of Jerusalem as the U.S.-recognised capital of Israel.
  • In a message on that occasion Mr. Modi had said, “We hope for early realisation of a sovereign, independent, united and viable Palestine.”India’s recent official comments have mostly avoided a mention of Jerusalem.
  • However, Mr. Modi ahead of his July visit to Israel had indicated that India would decide on Israeli claims on the holy city after the two sides come to a consensus.
  • Presenting his country’s view, Palestinian envoy to India Adnan Abu Alhaija indicated that he is satisfied with India’s response said: “India has reiterated its support to the pre-1967-war border of Palestine which obviously includes the East Jerusalem and its holy places of worship and God willing, we will soon be welcoming Prime Minister Narendra Modi to Palestine.”

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::International ::

U.S. recognition of Jerusalem as Israel’s capital led to violence

  • U.S. President Donald Trump’s recognition of Jerusalem as Israel’s capital sparked Palestinian protests, clashes and a call for a new intifada as fears grew of fresh bloodshed in the region.
  • Mr. Trump’s announcement also prompted an almost universal diplomatic backlash that continued, with fresh warnings from Turkey, the EU and Russia.
  • Israeli Prime Minister Benjamin Netanyahu, however, lavished praise on Mr. Trump, saying his name would now be associated with Jerusalem’s long history and urging other countries to follow his lead.
  • The Israeli military deployed hundreds more troops to the occupied West Bank amid uncertainty over the fallout, while clashes between Palestinians and Israeli security forces erupted in various areas.
  • In a speech in Gaza City, Hamas leader Ismail Haniya called for a new intifada, or uprising. Protests were held in West Bank cities, including Ramallah, Hebron and Nablus, as well as in the Gaza Strip.
  • Israeli forces dispersed several hundred protesters with tear gas at a checkpoint at the entrance to Ramallah, while the Palestinian Red Crescent reported dozens wounded from tear gas, rubber bullets and live fire in the West Bank.
  • Three Palestinians were wounded east of the city of Khan Yunis in the Gaza Strip, medical sources and witnesses said. Mr. Trump's defiant move — making good on a pledge made during his 2016 presidential campaign — ends seven decades of U.S. ambiguity on the status of the Holy City, which is claimed by both Israelis and Palestinians.
  • Russia said it viewed the move with “serious concern” and Saudi Arabia called it “unjustified and irresponsible”. Turkish President Recep Tayyip Erdogan said it would put the region in a “ring of fire”.
  • Palestinian leaders were outraged, with President Mahmud Abbas saying Mr. Trump had disqualified the U.S. from its traditional role as peace broker in West Asia.
  • Palestinian shops in East Jerusalem, including the Old City, as well as in the West Bank were largely shuttered and schools closed on Thursday after a general strike was called.
  • Through gritted teeth, the United Kingdom described the move as “unhelpful” and France called it “regrettable”.Germany said plainly that it “does not support” Mr. Trump's decision.

::Business and Economy::

Meeting of WTO IN Argentina

  • India is set to retain food security right and the protection of poor farmers and fisherfolk as top priorities at the upcoming meeting of the World Trade Organisation’s (WTO) highest decision-making body in Buenos Aires.
  • The agenda for the multilateral trade negotiations would also include discussions on ways to advance e-commerce, investment facilitation and measures to help small firms participate effectively in the global marketplace.
  • The WTO Ministerial Conference, to be held in South America for the first time, will see Argentina hosting the biennial event from December 10-13 in its capital, Buenos Aires.
  • The city’s Spanish name translates as ‘fair winds’ — a meaning fitting well in this context, considering that WTO rules are meant to “establish what is fair” in global trade and “discourage ‘unfair’ practices.”
  • In addition to prioritising farm issues, India is keen to push forward its proposal on a Trade Facilitation in Services (TFS) Agreement.
  • The TFS proposal aims to ensure relaxation of norms for movement of skilled workers and professionals across borders for short-term work. In its comments to the WTO on December 5, India proposed “a well-structured post-Buenos Aires meeting work programme on services” incorporating the TFS elements.
  • Given the complexity of issues being discussed at the current round of negotiations, which had begun in 2001 in Doha to improve the trading prospects of developing nations, WTO Director-General Roberto Azevêdo said in a recent statement that “prospects for progress on specific issues in Buenos Aires are unclear.
  • Members remain divided on many issues.” Currently, the WTO has 164 member-countries.
  • For India, a “permanent solution” to the issue of public stockholding for food security purposes is key. India is among the many countries which feel that the current WTO norms on public stockholding are very restrictive and prevent governments from meeting their people’s food security needs.
  • Another outstanding agricultural issue India wants to see resolved is a Special Safeguard Mechanism (SSM) for developing countries. The SSM would permit developing nations like India to temporarily raise tariffs to counter import surges or price declines of farm items, and thereby protect their farmers.
  • While India is learnt to be backing the Philippines’ proposal for adoption of a price-based SSM, a WTO note said, “In contrast, a number of members made it clear that such an outcome was unrealistic in the absence of a broader outcome in market access.”

UIADI Supreme court has not stayed linking of Aadhaar

  • Clarifying that the Supreme Court had not stayed linking of Aadhaar with different services, the Unique Identification Authority of India (UIDAI) on Thursday said that the people should complete the process as early as possible to avoid any inconvenience.
  • “Aadhaar Act being in force, all notifications for requiring Aadhaar for various welfare programmes, verifying bank account, PAN card and SIM card with Aadhaar stand valid and lawful,” it said in a statement.
  • The Attorney General of India, submitted before the Supreme Court that the government intended to issue a notification on December 8, extending the deadline for mandatory linking of Aadhaar with services from December 31 to March 31, 2018.
  • The deadline for Aadhaar linkage for most of these services, including bank accounts, is currently December 31, 2017.
  • However, there will be no extension of deadline for verifying Aadhaar with mobile phone numbers, which remains at February 6, 2018.
  • UIDAI said that the Aadhaar Act 2016 was passed by Parliament in March last year and notified in the Gazette of India.

FRDI Bill 2017 does not modify the existing protection granted to depositors

  • In an attempt to clear the air about bank deposit protection under the proposed Financial Resolution and Deposit Insurance (FRDI) Bill 2017, the government said the provisions in the Bill did not adversely modify the existing protections granted to depositors at all.
  • It added that the legislation would be far more depositor-friendly than those in other jurisdictions.
  • “The FRDI Bill will strengthen the system by adding a comprehensive resolution regime that will help ensure that, in the rare event of failure of a financial service provider, there is a system of quick, orderly and efficient resolution in favour of depositors,” the government said in a statement.
  • “Certain misgivings have been expressed in the media regarding ‘bail-in’ provisions of the FRDI Bill,” the statement added.
  • The provisions contained in the FRDI Bill, as introduced in the Parliament, do not modify present protections to the depositors adversely at all. They provide additional protections to the depositors in a more transparent manner.
  • The statement comes against the background of increasing criticism in the media and on social media of the perceived nature of the ‘bail-in’ clause, which allows a Resolution Corporation to cancel or modify the liabilities of a failing bank, something analysts have said could extend to bank deposits as well.
  • “The FRDI Bill is far more depositor friendly than many other jurisdictions, which provide for statutory bail-in, where consent of creditors/depositors is not required for bail-in,” the statement added.
  • The FRDI Bill would not limit the scope of powers of the government to extend financing and resolution support to banks, including public sector banks, and its implicit guarantee for public sector banks remained unaffected, it added.

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