Current Affairs MCQ for Banking  Exams - 28 December 2014

Q. 1

The United States and NATO marked the formal end of the war in Afghanistan with a ceremony at their military headquarters in Kabul. These western troops have been in Afghanistan since 2001 and had unseated the Taliban regime following the 11 September New York attacks. What was the official name of this force led by the United States?
a. International Safety Army
b. International Security Assistance Force
c. International Social Safety Army

Current Affairs MCQ for Banking  Exams - 27 December 2014

Q. 1

Who was elected as the new Chief Minister of Jharkhand by the BJP legislature party thus paving the way for him to lead the BJP-AJSU alliance government in the state?
a. Raghuvar Das
b. Nitish Kumar
c. Jitan Ram Manjhi
d. Raman Singh
e. Manohar Lal Khatter

(General Awareness For Bank's Exams) Science & tech
November - 2014

Virgin Galactic spacecraft appears to have broken apart in flight

•  The head of the federal agency examining fatal crash of a Virgin Galactic passenger spaceship during a test flight in California’s Mojave Desert confirmed that the vehicle had broken apart in flight.

(General Awareness For Bank's Exams) Economy

November -2014

Indian Rupee ends almost flat at 61.41 against US dollar

•  The Indian rupee ended almost flat at 61.41 against the Greenback on alternate bouts of buying and selling.

(General Awareness For Bank's Exams) Sports

November - 2014

Manavaditya Rathore wins gold at Asian Championships

• Manavaditya Rathore, son of Olympic silver medallist Rajyavardhan Rathore, clinched the gold medal in junior men’s trap at the 4th Asian Shotgun Championships. Rathore shot 114 out of 125 to win the junior trap event in a shoot-off.

Lewis Hamilton wins US Grand Prix

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International

Novemeber - 2014

U.S. air strikes target IS convoy in Iraq

•  U.S. air strikes destroyed an Islamic State convoy near the Iraqi city of Mosul but U.S. officials said it was unclear whether the group’s top commander Abu Bakr al-Baghdadi had been in any of the 10 targeted vehicles.

•  Colonel Patrick Ryder, a Central Command spokesman,

(General Awareness For Bank's Exams) National Events

November - 2014

PM Modi among world’s most powerful people, ranked 15th: Forbes

•  Prime Minister Narendra Modi made his debut among the world’s most powerful people, ranked 15th on the Forbes list topped by Russian President Vladimir Putin who pipped his U.S. counterpart Barack Obama for a second year in a row.

•  The list of 72 most powerful people in the world

General Awareness Magazine for IBPS, Bank Exams

Issue : VOL. - 02 (August 2014)

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Contents:

• National

• International

• Economy

• India And The World

• Sports

• In The News

• Science and Technology

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Issue : VOL. - 03 (September 2014)

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Contents:

• National (Full Material Buy Online)

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• Economy (Full Material Buy Online)

• India And The World (Full Material Buy Online)

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• In The News (Full Material Buy Online)

• Science and Technology (Full Material Buy Online)

:: National ::

‘Zero tolerance on rhino poaching’

• Union Minister for Environment, Forests and Climate Change PrakashJavadekar announced that a Special Rhino Protection Force of local youth would be raised to check poaching in the Kaziranga National Park (KNP) and other rhino-populated areas in Assam.

• “There will be zero tolerance towards rhino poaching and our efforts would be to bring down the number of rhino poaching incidents to zero,” he said.

• Addressing a press conference after two-day visit to the national park, the Minister announced that his Ministry would request the CBI to expand the scope of its ongoing probe into rhino poaching in the KNP by including more cases and fast-track it.

• A comprehensive plan would be undertaken to ensure free movement of park animals through the six animal corridors across the National Highway 37 passing through the world heritage site.

Modi offers assistance for PoK flood relief

• In a humanitarian gesture, Prime Minister NarendraModi on offered all possible assistance to Pakistan for carrying out relief operations in the flood-ravaged Pakistan-Occupied Kashmir (PoK).
• Making the offer after undertaking a visit to flood-hit Jammu and Kashmir for a first-hand assessment of the situation, Mr. Modi expressed his anguish at the loss that has been caused in PoK.

Home Ministry asks States to fasttrack cases against MPs, MLAs

• The Home Ministry has asked all State governments to speed up cases against MPs and MLAs facing charges which attract disqualification, directing them to seek day-to-day trial in courts, appoint special public prosecutors and ensure regular monitoring.

• The direction came in the wake of Supreme Court setting a deadline to complete trial in cases involving lawmakers.

• The step is also in line with Prime Minister NarendraModi’s direction on July 24 asking the Home Minister and Law Minister to work out a mechanism to settle cases against politicians within a year to cleanse politics from tainted lawmakers.

• Any sentence which attracts punishment of two years and above can lead to disqualification from Parliament or state legislature.

• According to a March 10, 2014 direction of the Supreme Court, cases against MPs and MLAs which attract disqualification under Section 8(1), 8(2) and 8(3) of the Representation of the People Act needed to be completed within one year of framing charges.

Govt to go ahead with key appointments without LoP

• The Government has decided to go ahead with the appointments to various statutory bodies like CVC, NHRC and Lokpal without the Leader of Opposition in the LokSabha as a member of the selection committee choosing them.

• The move comes following a recent reference from the LokSabha secretariat in this regard, official sources said.

• The Department of Personnel and Training (DoPT) had written to the LokSabha seeking information on the LoP. The secretariat has informed the DoPT that there is no recognisedLoP in the LokSabha, they said.

• The Government will go ahead with the appointments to various statutory bodies without the LoP, the sources said.

• LokSabha Speaker SumitraMahajan had rejected the Congress’ demand for LoP status for its nominee.

• Congress with 44 seats in the 543-member LokSabha has emerged as the second largest party after BJP’s 282 but fell short by 11 to stake claim for the LoP for which it requires a strength of 55.

• There is no mandatory requirement of the LoP in the selection committee that recommends persons for Central Vigilance Commissioner, Vigilance Commissioner, chairpersons and members for the National Human Rights Commission (NHRC) and Lokpal, they said.

• The appointment of a Central Vigilance Commissioner and Vigilance Commissioner is done by the President on the basis of recommendation from a three member selection committee headed by Prime Minister and comprising Minister for Home Affairs and the Leader of Opposition in the House of the People, as per the Central Vigilance Act 2003.

• The Act further has a provision that when no such leader (LoP) has been recognised then the selection committee can include the leader of the single largest group in opposition in the LokSabha.

• “No appointment of a Central Vigilance Commissioner or a Vigilance Commissioner shall be invalid merely by reason of any vacancy in the Committee,” the Act says.

(General Awareness For Bank's Exams) In the news
October - 2014

Ashraf Ghani

•  Ashraf GhaniAhmadzai has been sworn in as Afghanistan’s new President, replacing Hamid Karzai in the country’s first democratic transfer of power since the 2001 U.S-led invasion toppled the Taliban.

•  He became President of Afghanistan in a peaceful transition after a six-month election season that ended with marathon

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Science & Tech

October - 2014

Science & Tech

•  ISRO will launch the third of seven series of satellites to put in place India’s own navigation system on par with US’ Global Positioning System (GPS) from the spaceport of Sriharikota on October 10.

• The Indian Regional Navigational Satellite System (IRNSS) 1C satellite would be launched on the 28th flight of India’s PSLV-C26 from the SatishDhawan Space Centre at Sriharikota, some 100 km from Chennai.

•  As part of its aspirations to build a regional navigational system equivalent to GPS of the US, ISRO plans to send seven satellites to put in place the IRNSS.

•  The first two satellites in the series, IRNSS 1A and IRNSS 1B were launched from Sriharikota on July 1 2013 and April 4 this year respectively.

•  Being developed by India, IRNSS is designed to provide accurate position information service to users in the country as well as the region extending upto 1,500 km from its boundary, which is its primary service area.
   

Whale shark found washed ashore at Panambur

•  A 10-ft-long whale shark was found washed ashore at the Panambur beach. The whale shark, among the largest fish species in the world, is commonly found in deep seas around the Lakshadweep Islands, and it, probably, is the first incident of a whale shark found washed ashore at Panambur.

•  An average whale shark is around 30 feet in length and weighs around 9,000 kg.

Preterm birth kills most children under 5 years in India

•  Of the 6.3 million deaths in children under the age of five years, nearly 52 per cent of deaths during 2000-2013 occurred during the neonatal period (0-27 days after birth). Preterm birth complications, pneumonia and intrapartum-related complications have been found to be the three main causes of death in children globally.

•  According to Li Liu from the Institute of International Programs and the first author of the paper, there will be 4.4 million deaths in children younger than five years even in 2030 if the present trend continues.

•  In 2013, India, Nigeria, Pakistan, the Democratic Republic of Congo and China together accounted for half of deaths in the world in children aged under five years, and 52.5 per cent of all neonatal deaths. In the case of India and Pakistan, the three leading causes were preterm birth complications, pneumonia and intrapartum-related complications.

Measles will be the Target after eliminating polio

•  An ambitious drive to eliminate or control a host of diseases, including measles, which affects lakhs of people and leave many killed every year will be launched, Health Minister Harsh Vardhan said.

•  Dr. Vardhan said the government was already working towards eliminating measles by 2015 and Rubella, also known as German measles, and ‘Kala-azar’ or black fever by 2015.

•  It also aims to eliminate parasitic disease Filaria by 2015 and Leprosy at district level by 2017.

•  “We got rid of Smallpox in 1977 and Polio in 2014. There is no reason why we cannot finish others,” he said during a press conference.

•  Dr. Vardhan said the government has called a meeting of health secretaries from across the country on October 9 in this regard, following which a nationwide programme will be launched regarding elimination of such diseases and others.

India should increase Coverage of antenatal care: WHO

•  In 2013, globally, preterm birth complications were responsible for 15 per cent (0.96 million) of deaths in children under five years of age. It is a leading cause of death in neonates (0-27 days after birth). According to WHO, about 15 million babies are born preterm (before 37 completed weeks of gestation) every year. Such births are seen both in the developed and developing countries.

•  India ranks first in the list of 10 countries that account for 60 per cent of all preterm births; the U.S. is ranked sixth in the list.

•  “India has little more than 50 per cent of antenatal care coverage. So in order to face the issue of premature births, low birth weight babies and stillbirths, the first aspect is to increase the coverage of antenatal care,” Dr. FlaviaBustreo, Assistant Director General at WHO told this Correspondent. “During antenatal care, health workers can detect whether progress of foetal growth is happening normally, pregnant mother’s nutrition is good or look out for any other complications.”

‘Virtual breast’ will improve cancer detection

•  A Computer-generated 3D ‘virtual breast’ software, that mimics the intricacy of the real organ, could improve cancer detection, scientists say.

•  Many medical professionals encourage women to get mammograms, even though the tests are imperfect at best: only a minority of suspicious mammograms actually lead to a cancer diagnosis, researchers said.

•  Researchers have used a different type of test, ultrasound elastography, to pinpoint possible tumors throughout the body, including in the breast.

•  “It uses imaging to measure the stiffness of tissue, and cancer tissues are stiff,” said Jingfeng Jiang, a biomedical engineer at Michigan Technological University.

•  Those images can be breathtakingly clear: In one elastograme the tumour is as different from normal breast tissue as a yolk is from the white in a fried egg. However, not all images are that precise.

•  Ultrasound elastography could be an excellent screening tool for women who have suspicious mammograms, but only if the results are properly interpreted, researchers said.

HIV pandemic’s genesis in the 1920s was in Kinshasa: scientists

•  A “perfect storm” of urban change that began in 1920s Kinshasa led to the catastrophic spread of HIV across Africa and into the wider world, according to scientists who used genetic sequencing and historical records to trace the origins of the pandemic.

•  Though the virus probably crossed from chimpanzees to humans in southern Cameroon years earlier, HIV remained a regional infection until it entered the capital of what is now the Democratic Republic of the Congo (DRC).

•  From the 1920s until 1960, the pandemic HIV strain — there were others that fizzled out — spread from Kinshasa, crossed borders to other nations, and ultimately landed on distant continents. It has infected nearly 75 million people worldwide to date.

Indo-Russian venture breaks new ground

•  When Mikhael and Sergei were students together at Dauria, a back of beyond region in Russia’s trans-Baikal region bordering region, little would they have imagined that they would team up with Indians, who also came out from smaller towns, to launch satellites.

•  The two Russians from a region known for crystal blue lakes and seasons divided between unremitting snow for half the year and rolling meadows for the remainder, next met at the Physics Olympics which Mikhail Kokorich won. It was when they were selected for admission at Novosibirsk University that they sensed their destinies were interlinked, narrates Sergei Ivanov, in a dapper suit while taking time off to talk on his cell phone with his company’s offices in the Silicon Valley and Munich.

•  The Indians too — Raghu Das, D. S Govindrajan and SachidaPadhi — chose career paths that differed from the usual trajectory of scientists\managers settling down to a life of security with Indian Space Research Organisation (ISRO) or one of the corporate heavyweights that are contributors to its space launches.

Gene plays important role in Monarch butterfly's migration

•  The 3,000 mile or 4,800 km mass migration of Monarch butterflies in North America is one of the insect world's fantastic feats, with millions embarking on the arduous journey from as far north as Canada down into Mexico and the California coast each autumn.

•  Scientists who scoured the genome of these colorful insects offered new insight into this annual airborne adventure. They pinpointed a single gene related to flight muscle efficiency that plays a major role in the Monarch butterfly's migration.

•  The study published in the journal Nature, also identified the gene behind the butterfly's striking orange-and-black coloration.

•  "I find it amazing that these little butterflies live for months and fly thousands of miles to perform this annual migration," said one the researchers, University of Chicago professor of ecology and evolution Marcus Kronforst..

•  The number of migrating Monarchs has plummeted in recent years. Dr. Kronforst said while an estimated one billion Monarch butterflies migrated to Mexico in 1996, that number stood at about 35 million this past winter. Threats to them include habitat loss due to human activities, pesticides that kill milkweed and climate change, experts say.

•  While mainly a North American species, Monarch populations also can be found in Central America, South America and elsewhere. Those outside North America do not migrate.

• The researchers carried out genome sequences on 92 Monarch butterflies from around the world including non-migratory ones as well as on nine butterflies from closely related species. To study the genetic basis for migration, they compared the genetic blueprint of migratory Monarchs to those that do not migrate.

Tibetan plateau becomes focus of intense meteorological study

•  The Tibetan plateau has become the focus of intense meteorological study in a never-before attempt to understand its effect on climate locally as well as globally.

•  This development follows close on the heels of the massive floods which hit Kashmir and Pakistan recently.

•  The $49-million Chinese effort, in which the plateau is being flooded with sensors, is aimed to help predict extreme weather — both in Asia and as far away as North America — and give scientists knowledge on how climate change affects these events.

•  Having a high altitude, the plateau receives more sunlight, gets hotter than land at sea level. Acting like a giant heating plate it pumps air upwards which disperses in the upper troposphere, influencing atmospheric circulation and thereby, climate.

•  The heat also intensifies monsoons, which are caused by land-ocean temperature differences which in turn cause pressure gradients.

•  Being the biggest and highest plateau in the world, it disturbs the troposphere unlike any other structure on earth. However, there are little data on the impact on climate.

2020 plan for nature protection falling: U.N. report

•  International efforts to meet targets to stem the loss of wildlife and habitats are failing miserably, according to a United Nations report.

•  The Global Biodiversity Outlook 4, published as nearly 200 countries meet in South Korea in a bid to tackle biodiversity loss, paints a damning picture of governments’ efforts to meet a set of targets agreed upon in 2010 to mitigate the destruction of species’ habitats, cut pollution and stop overfishing by the end of the decade.

•  Conservationists said the lack of progress, nearly halfway to the 2020 deadline for the Aichi Biodiversity Targets (ABT), was a troubling sign and a reality check.

•  According to the report, the situation is worsening for the planet’s most threatened species, which include 90 per cent of all lemurs and species such as the blue-tongued forest giraffe and the spoon-billed sandpiper: “The average risk of extinction for birds, mammals, amphibians and corals shows no sign of decreasing.”

•  Only five of the 20 targets, which are broken down into 56 elements, are on track for 2020. Thirty-three show progress albeit at an insufficient rate, 10 show no progress; five show deterioration and three have not been evaluated.

India launches microscope uses peacock feather technology

•  India launched an ingeniously manufactured microscope that generates 3D images of objects. The Broad Spectrum Confocal Microscope has several applications in medicine and materials sciences. It uses an infra red beam which passes through a patented photonic crystal fibre made by the Central Glass and Ceramics Research Institute (CGCRI), Kolkata.

•  “The optic fibre produces multiple wavelengths from the laser due to its surface which has very small holes. This is similar to the way a peacock’s feather scatters light. This is projected on to the target object which allows us to see a three dimensional structure of the object,” CGCRI Director Kamal Dasgupta said.

•  The microscope was developed by the Council for Scientific and Industrial Research (CSIR) along with Vinvish Technologies, Thiruvananthapuram, under the New Millennium Indian Technology Initiative, an effort launched by the CSIR over a decade ago to develop technologies through collaborative efforts by research laboratories and technology companies in India.

APJ Kalam stresses need to have carbon-free cities

•  Former President APJ Abdul Kalam stressed the need to have carbon-free cities across the globe for happy and healthy living of citizens.

•  Delivering the keynote address at the plenary session of the XI World Metropolis Congress that is currently underway in Hyderabad, DrKalam suggested that the delegates should deliberate on building carbon-neutral and fossil-free urban conglomerations.

•  “To have carbon-neutral cities is my dream. Whether smart cities or over-smart cities, the urban areas should be places for healthy living,” DrKalam said adding that “healthy living is possible only if we adopt methods of generating solar power and create non-carbonised environment.”

•  The growing migration to urban areas poses challenge in creation of clean environment, he said.

•  Recalling his recent visit to Chandigarh, the former President said the city was built by a Swiss architect and an expert urban planner and there are several points that can be learnt from it.

Inspiration from Butterfly wings to fight forgery

•  Harvard researchers have taken inspiration from ‘colour-changing’ wings of a butterfly to develop an artificial photonic material that is difficult to recreate and can help produce counterfeit-proof banknotes.

•  Researchers were inspired by the male Pierellaluna butterfly of Latin America that uses its wings to perform an advanced optical trick known as reverse colour diffraction to attract a mate.

•  Owing to the microstructure of its wings — made up of tiny scales curled slightly upward at the end to diffract light — the butterfly appears to change colour when viewed from different angles. Researchers have now figured out a way to use artificial photonic materials to mimic the insect.

Increased toilet coverage has a little health impact: study

•  New evidence has raised troubling questions about India’s 25-year strategy of pushing people to use toilets as a way to improve health.

•  In a paper published in the medical journal Lancet, researchers led by Thomas Clasen of the U.S.-based Emory University found that increased toilet coverage did not lead to any significant improvements in the occurrence of child diarrhoea, prevalence of parasitic worm infections, child stunting or child mortality.

•  For their study, Dr. Clasen and his team looked at 50 villages in Odisha’sPuri district between May 2010 and December 2013, where the then Total Sanitation Campaign to build toilets was in effect, and 50 otherwise similar villages where the campaign had not yet started.

•  One key possible explanation for the absence of a health impact, the researchers said, could be the patchy implementation of the scheme, and uneven rates of use of toilets — at the end of the study period, just 63 per cent of households in the villages where the scheme ran had any toilet, and two-thirds of this group reported a family member using the toilet. Usage was substantially lower among men than among women.

PSLV-C26 to launch navigation satellite on October 16

•  A Polar Satellite Launch Vehicle, PSLV-C26, will lift off from the space centre at Sriharikota on October 16 at 1.32 a.m. to put a navigation satellite, Indian Regional Navigation Satellite System, IRNSS-1C, into orbit.

•  The launch window opens at 1.32 a.m. and lasts till 1.47 a.m. The 1,425-kg satellite has already been integrated with the four-stage PSLV in the first launch pad and the final phase of checks is under way. The 67-hour countdown will begin at 06.32 a.m. on October 13.

US approves two technology transfer licenses

•  While the decision in this regard was made just before Prime Minister NarendraModi's US visit, the announcement was made by a top Pentagon official during the annual gala of US India Business Council (USIBC).

•  "What is critical now is that we agree on some projects that we can use to continue building our relationship. Good intentions must lead to tangible results, or the momentum we have built will fade," said Frank Kendall, Under Secretary of Defence for Acquisition, Technology and Logistics during his address at the event.

•  Kendall, who is Pentagon's point person for the India-US Defence Trade and Technology Initiative (DTTI), however, did not give details about the two licenses approved by US.

•  He said: "I have also set aside USD 20 million for strategic cooperative science and technology projects with India, something we have done with no other country."

•  Kendall, who accompanied Defence Secretary Chuck Hagel to India this summer, was highly appreciative of the developments and policy changes in India.

Astronomers most detailed map exoplanet’s weather

•  Using the Nasa Hubble Space Telescope, a team of scientists — including an Indian-origin researcher — has made the most detailed map ever of the temperature of an exoplanet’s atmosphere and traced the amount of water it contains.

•  The planet targeted for both the investigations was the hot-Jupiter exoplanet WASP-43b. It is a planet the size of Jupiter but with double the mass and an orbit much closer to its parent star than any planet in the solar system. It has one of the shortest years ever measured for an exoplanet of its size — lasting just 19 hours.

• “These maps can be used to constrain circulation models that predict how heat is transported from an exoplanet’s hot day side to its cool night side,” said Kevin Stevenson from University of Chicago.

A multi-sectoral approach to control dengue

•  Dengue fever is rearing its ugly head again in India with new cases of infections and even deaths being reported from different States. The world’s fastest growing vector-borne disease, dengue sees an estimated 50-100 million cases being reported annually in over 100 endemic countries.

•  Ever since its detection in the early 1950s, there has been a 30-fold increase in dengue incidence. Almost half of the world’s population is currently considered at risk of contracting dengue. The Southeast Asia region contributes to more than half of the global burden of the disease. About 52 per cent of the world’s population at risk resides in this region. Dengue is endemic in 10 of the 11 member states, and India, Indonesia, Myanmar, Sri Lanka and Thailand are among the 30 most endemic countries in the world.

•  The good news is that deaths due to dengue have been brought down substantially. This is because of greater awareness among treating physicians on the proper use of World Health Organization protocols in providing care to dengue patients. This is also attributed to increased knowledge among communities to seek early treatment for symptoms that resemble those of dengue.
  However, an area of concern is that the number of cases has been increasing year after year. To understand it, we need to comprehend and keep pace with the changing epidemiology of dengue, especially the multiple ecological factors that influence its spread.

•  Being a vector-borne disease, ever-increasing numbers and varieties of mosquito-breeding habitats are being created with rapid and poorly planned urbanisation, globalisation, consumerism, poor solid waste and water management, and increasing population movement without adequate measures to prevent vector breeding.

Mars Orbiter sends pictures of Mars moon Phobos

•  His preparedness is understandably high but there could be a slump in the keenness of competition.

•  Almost 20 days after it successfully entered the orbit of the Red Planet, ISRO’s Mars Orbiter sent pictures of Phobos — the largest of the two natural satellites that orbit around Mars.

•  ISRO, the national space agency, has shared a tiny footage on its social networking site with a caption, “The larger of the two Martian moons, Phobos, is seen travelling west to east over Mars in its typical orbit.”

ISRO re-positioned its Mars Orbiter

•  Indian Space Research Organisation (ISRO) has repositioned its Mars Orbiter, as the national space agency, along with its counterparts around the world, is expecting Comet Siding Spring to fly by the Red Planet on October 19.

•  “We have repositioned the Mars Orbiter, as the Comet Siding Spring is expected to be close to the Mars on October 19. We have taken the Orbiter to a position farthest from the tail of the Comet so that it doesn’t affect the satellite,” A.S. Kiran Kumar, Director, Space Application Centre, Ahmedabad, said.

•  ISRO, NASA and other space agencies in the world, which have sent their missions to the Red Planet, have taken precautionary measures to save their satellites from any possible collision with the space debris, which might be facilitated by the movement of the Comet near Mars.

•  According to U.S. space agency NASA, Comet Siding Spring has travelled many billions of miles and would come within about 87,000 miles of Mars on October 19. The comet comes from the Oort cloud, material left over from the formation of the solar system, it said.

MAVEN beams first images from Martian atmosphere

•  NASA’s Mars Atmosphere and Volatile Evolution (MAVEN) spacecraft has provided scientists their first look at a storm of Solar Energetic Particles (SEPs) in the Red Planet.

•  The SEPs are streams of high-speed particles blasted from the sun during explosive solar activities like flares or coronal mass ejections (CMEs).

•  Around Earth, SEP storms can damage the sensitive electronics on satellites. At Mars, they are thought to be one possible mechanism for driving atmospheric loss.

•  MAVEN has clicked unprecedented ultraviolet images of the tenuous oxygen, hydrogen, and carbon coronas surrounding the Red Planet, and yielded a comprehensive map of highly-variable ozone in the atmosphere underlying the coronas, NASA reported.

•  “All the instruments are showing data quality that is better than anticipated at this early stage of the mission,” said Bruce Jakosky, MAVEN Principal Investigator at the University of Colorado, Boulder.

•  “It is turning out to be an easy and straightforward spacecraft to fly, at least so far. It really looks as if we are headed for an exciting science mission,” he said.

•  MAVEN was launched on September 21 to help solve the mystery of how the Red Planet lost most of its atmosphere.

Stem cells appears safe to treat blindness

•  An experimental treatment for blindness that uses embryonic stem cells appears to be safe, and it improved vision in more than half of the patients who got it, two early studies show.

•  Researchers followed 18 patients for up to three years after treatment. The studies are the first to show safety of an embryonic stem cell treatment in humans for such a long period.

•  “It’s a wonderful first step but it doesn’t prove that (stem cells) work,” said Chris Mason, chair of regenerative medicine at University College London, who was not part of the research. He said it was encouraging the studies proved the treatment is safe and dispelled fears about stem cells promoting tumor growth.

•  Embryonic stem cells, which are recovered from embryos, can become any cell in the body. They are considered controversial by some because they involve destroying an embryo and some critics say adult stem cells, which are derived from tissue samples, should be used instead.

•  Scientists have long thought about transforming them into specific types of cells to help treat various diseases. In the new research, scientists turned stem cells into retinal cells to treat people with macular degeneration or Stargardt’s macular dystrophy, the leading causes of blindness in adults and children.

•  In each patient, the retinal cells were injected into the eye that had the worst vision. Ten of the 18 patients later reported they could see better with the treated eye than the other one.

•  No safety problems were detected. The studies were paid for by the U.S. company that developed the treatment, Advanced Cell Technology, and were published online in the journal, Lancet.

Mars probes to observe cometary visitor

•  India’s Mars Orbiter Mission and four other spacecraft gathered around the Red Planet are preparing to greet an emissary from the far reaches of the solar system, Comet Siding Spring.

•  Around midnight this Sunday (Oct. 19), the comet — named after an Australian observatory from where it was discovered in January last year — will hurtle past Mars, coming to within about 139,500 km of the planet. That is almost one-third of the average distance between Earth and Moon, and much closer than any comet is known to have passed by Earth.

•  The Indian Orbiter as well as three American and one European spacecraft now around Mars will be training their instruments on the comet. Two U.S. rovers trundling about on the Martian surface will also peer up with their cameras.

•  These will be the first spacecraft observations made from close proximity of a comet that originated in the Oort Cloud, said Asoke K. Sen of the Department of Physics at Assam University in Silchar, who studies comets.

•  As the comet is coming into the inner solar system for the first time, it “will carry the signature of the pristine material out of which the sun and the planets were born some 4.6 billion years back,” he pointed out. Observations of the comet will therefore aid in understanding the origin and evolution of the solar system.

Another success of ISRO with PSLV-C26 launch

•  On October 15, 1994, India’s Polar Satellite Launch Vehicle (PSLV-D2) for the first time successfully placed an Indian Remote-sensing Satellite into orbit.

•  Twenty years later, on October 16, 2014, the PSLV-C26 lobbed the 1,425 kg Indian Regional Navigation Satellite System (IRNSS-1C) satellite into its precise orbit.

•  This mission was ISRO’s twenty-seventh consecutively successful PSLV flight. ISRO Chairman K. Radhakrishnan said, “The PSLV has done it again. IRNNSS-1C is up in orbit. "

•  After a flight of 20 minutes and 18 seconds, the satellite was injected into an elliptical orbit. The IRNSS-1C is the third among seven navigation satellites, with a wide range of applications from helping truck drivers to submarines, missiles and battle tanks locate their positions.

Cruise missile ‘Nirbhay’ test-fired

•  India’s indigenously developed nuclear capable sub-sonic cruise missile ‘Nirbhay’, which can strike targets more than 700 km away, was test-fired from a test range at Chandipur in Odisha.

•  “The missile was test-fired from a mobile launcher positioned at launch pad 3 of the Integrated Test Range at about 10.03 hours,” said an official soon after the flight took off from the launch ground.

•  “Flight details will be available after data retrieved from radars and telemetry points, monitoring the trajectories, are analysed,” the official said.

•  It is the second test of the sub-sonic long range cruise missile ‘Nirbhay’ from the ITR.

•  The maiden flight, conducted on March 12, 2013 could not achieve all the desired parameters as “the flight had to be terminated mid-way when deviations were observed from its intended course,” sources said

•  India has in its arsenal the 290-km range supersonic “BrahMos” cruise missile which is jointly developed by India and Russia. But ‘Nirbhay’ with long range capability is a different kind of missile being developed by the Defence Research and Development Organisation (DRDO).

NFDB implementing several new schemes for fisheries sector

•  National Fisheries Development Board (NFDB) is implementing various production oriented schemes for enhancement of fish production and productivity.

•  To increase fish production and productivity in reservoirs, a massive fish seed stocking programme was taken up in 21.15 lakh hectares of water spread area in 21 States.

•  Considering the need for promotion of hygienic markets, the board is focusing on developing hygienic markets across the country. For promotion of fish marketing and consumption, modernisation and construction of 252 fish markets were taken up.

•  NFDB is addressing the serious weak links in the supply chain by providing fishermen with 1214 mobile fish vending vehicles with ice-boxes so that they can earn more by reaching markets faster and the fish are also delivered in better condition.

•  To meet the quality standards stipulated by the European Union and other importing countries, assistance was extended for modernisation of 21 fishing harbours and 31 fish landing centres.

•  Considering the scope for development of ornamental fisheries in India by involving rural beneficiaries, especially women self-help groups, NFDB has launched initiatives by implementing different schemes.

•  Several families and women self-help groups are earning a livelihood through ornamental fish culture. NFDB has launched schemes for setting up of ornamental units such as backyard hatcheries, medium scale ornamental fish breeding units, integrated ornamental fish breeding units and aquarium fabrication units with 50 per cent subsidy.

India at very high risk of Ebola: U.S. expert

(General Awareness For Bank's Exams)

Economy

October - 2014

Healthy inflation declines are not enough: RBI Governor

• As the Reserve Bank of India (RBI) gets ready to announce its fourth quarter bi-monthly monetary policy review on September 30, the usual expectations from the market for an interest rate cut are surprisingly muted.

•  The surprise element lies in the fact that whatever data that are available in the public domain would seem to suggest a softer interest rate regime. According to this view, the RBI has, after a very long time, a favourable environment to lower the benchmark repo rate, which has remained at 8 per cent for the greater part of the year.

•  The broad macro-economic indicators have generally been positive even though one ‘lead’ indicator — the index of industrial production (IIP) — continues to remain erratic.

•  Most significantly, inflation data for August — both retail and wholesale — have delivered big, pleasant surprises. Retail inflation based on the consumer price index (CPI) has declined by almost a full percentage point from July from close to 8 per cent to just above 7 per cent.

RBI’s monetary policy statement

•  The key take-away from the Reserve Bank of India’s fourth bi-monthly monetary policy statement, released on 30 September is the central bank’s projections on the economy’s revival, a key element on the agenda of the Modi government. The RBI did not raise its growth projection for 2014-15, retaining it at the pre-elections level of 5.5 per cent, thereby, refusing to buy into the sharp surge in business sentiment and consumer confidence that its own surveys are capturing.

•  Quelling all hopes of a quick turnaround of the economy, it said, the momentum of activity across the economy is yet to stabilise and that the monsoon deficiency will dampen agricultural growth, which, in turn, will spill over to the rest of the economy as lower demand for the farm sector’s produce.

•  Business expectations of corporates for the third quarter, surveyed by the RBI, are at a eleven-quarter high, it said in its monetary policy report, ascribing the upbeat sentiment to the formation of a stable government at the Centre and the greater certainty about the policy environment, improvement in twin deficits, buoyant foreign capital inflows, a stable exchange rate and improved financial market conditions.
   

Microsoft announced its 'Windows 10' Operating System

•  Microsoft Corp. announced its 'Windows 10' Operating System to replace the largely unpopular Windows 8, skipping a number to mark a leap toward unifying the way people work on tablets, phones and traditional computers.

•  Microsoft is restoring some of the more traditional ways of doing things and promises that Windows 10 will be familiar for users regardless of which version of Windows they are now using. For instance, the start menu in Windows 10 will appear similar to what’s found in Windows 7.

Govt. refuses to bow to U.S. pressure on IP regime

•  The Modi Government denied that the reference to Intellectual Property Rights (IPR) in the joint statement from U.S. President Barack Obama and Prime Minister NarendraModi, was an outcome of the U.S. “arm-twisting”. The U.S. consent to discussion of IPR issues through the bilateral mechanism is a re-affirmation of India’s stand that issues need bilateral discussion and not unilateral action, a Department of Industrial Policy and Promotion (DIPP) clarification said.

•  The clarification further said the bilateral mechanism agreed to for discussing IPR disputes — Trade Policy Forum (TPF) — was put in place by the UPA Government in March 2010 through a US-India statement, was signed by the then Commerce Minister and his U.S. counterpart. “We have not submitted to the U.S. or yielded ground…. We have reiterated that the U.S. should not act unilaterally,” Industry Minister NirmalaSitharaman.

•  The joint statement, the DIPP clarified, in fact “merely reiterates” the position India has held since 2010 — this consistent position being that the IPR legal regime in India is fully TRIPS compliant and that issues to be discussed have to be taken up in bilateral forums like TPF. India has consistently refused to be subjected to unilateral action, the clarification added.
  Retail sector to benefit from REITs

•  The entry of real estate investment trusts (REITs) in the Indian market is expected to infuse a large dose of liquidity into the cash-strapped commercial real estate sector and could be a game changer.

•  In India, of the estimated 350 million square feet of ‘Grade A’ office space — valued at around $65-70 billion — concentrated in the major urban centres, about 80-100 million sq. ft is estimated to be eligible for REITs in the next 2-3 years, valued at about $15-20 billion, according to KPMG in India.

•  Apart from these, there are a host of other commercial properties such as shopping centres, retail malls, among others, which are eligible for REITs.

•  Retail malls in particular had seen developers rush in and churn out malls all over the country, but the rising vacancy rates following the economic slowdown saw a slowdown on the supply of mall space. An improvement in consumer sentiment now is good news for organised retail.

RBI Going beyond interest rate changes

•  Entirely in line with expectations, the Reserve Bank of India in its fourth bi-monthly monetary policy review did not change the policy repo rate, which remains at 8 per cent.

•  The main determinant of monetary policy has been to get a handle on inflation. This has been very well articulated by the RBI Governor both through the policy statements and outside. In fact, this time the Governor had amply made it clear that a rate cut was out of the question given the inflation scenario. The RBI has not only explained why a rate cut was not possible this time but has also more than hinted as to why there might not be any change for quite sometime.

•  The ‘pause’ may well extend to the greater part of 2015. The reason, of course, is inflation. While the RBI is fairly confident of reaching its target of 8 per cent retail inflation by January, 2015, it is far less certain about its medium-term target of 6 per cent by January, 2016. The central bank’s views on the glide-path for inflation are the same. However, the risks to attaining the 6-per cent target by January, 2016, remain even though they have lessened compared to August. As to why achieving a 6 per cent inflation target by January, 2016, may be so difficult, the RBI Governor explained that lots of things can happen in the world.

• The present softening of commodities prices, especially of oil — now trading below $100 a barrel — might not last indefinitely. Food prices may spike. The impact of the recent monsoons has not been assessed fully.

Oil PSUs set for a big change

•  Under-recoveries (losses incurred on selling regulated fuels like diesel, LPG and kerosene below their cost prices) on petroleum products are expected to decline by over 50 per cent over the next 2 years from 2013-14 levels due to decline in crude oil prices as well as ongoing efforts to move towards market-linked diesel prices. This will have a significant positive impact on the profitability of oil PSUs and the exchequer as well.

•  CRISIL Research believes that international crude oil prices and thereby petroleum product prices will slip by 8-10 per cent over the next two years to about $100 per barrel in 2015 from an average of $109 per barrel in 2013, barring any major geo-political events, fuelled by supply glut, waning demand growth and increased use of cleaner fuels.

•  While crude oil output from Iraq, Iran and North America will increase, global demand is expected to be impacted by weak consumption. The tepid consumption growth will be on account of better efficiencies and a shift towards natural gas in developed regions like North America and Europe, as well as relatively slower increase in demand from developing countries such as China and Indonesia because of reduction in subsidies and slower economic growth.

Railways decided to allow PPP in sale of tickets

•  With a view to expand the facilities for purchase of tickets, the Indian Railways have decided to allow public-private partnership in the establishment and operation of computerised Passenger Reservation System-cum-Unreserved Ticketing System terminals.

•  At present, only authorised travel agents are allowed to sell e-tickets while all the PRS counters across the country are operated by the Commercial Department of the Ministry. These new reservation centres, as per the proposal cleared by the Railway Board, would be called Yatri Ticket SuvidhaKendras.

•  Sources said Director (Finance), Railway Board, has issued a circular to all zonal general managers to work out the modalities for implementing the scheme. A circular has also been issued to the Centre for Railway Information Systems to make necessary modification in the software.

•  However, only authorised agents providing railway ticketing services of the Indian Railways for at least five years would be able to become a part of the scheme.

Clarification on tax treatment under Basel-III sought

•  Bankers have sought clarity from the Finance Ministry regarding taxation of additional tier-I bonds through which they are expected to raise capital to meet Basel-III norms.

•  Clarity on taxation would help investors in putting money into such instrument without hesitation.

•  Banks have requested the Ministry to clarify tax treatment issues with regard to additional tier-I bonds in a meeting held recently.

•  bankers in the meeting said that investors want to know whether these instruments would be treated as bonds or equity for taxation purposes.

•  Under the Basel-III norms, additional tier-I bonds come with loss absorbency features meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

•  This would help banks to conserve capital at the time of stress or loss.

•  Additional Tier-I bonds, which qualify as core capital or equity capital, is one of the means of raising capital by the public sector banks which would require Rs.2.40 lakh crore by March 2019.

IMF lowered its outlook for global economic growth

•  The International Monetary Fund (IMF) slightly lowered its outlook for global economic growth this year and next, mostly because of weaker expansions in Japan, Latin America and Europe.

•  The global economy will grow 3.3 per cent this year, one-tenth of a point below what it forecast in July. World growth should then pick up to 3.8 per cent in 2015, two-tenths of a point lower than its previous estimate, the IMF says in the latest installment of its World Economic Outlook.

•  The global lending organization has a more optimistic view of the U.S. economy, which it expects will grow 2.2 per cent this year, up from an earlier forecast of 1.7 per cent. Its forecast for 3.1 per cent growth in the U.S. next year was unchanged.

•  Still, the global lending organization warned that the U.S., Europe and Japan could face years of sluggish growth unless governments take steps to accelerate activity. It acknowledged that it has frequently cut its forecasts in the past several years, and said that was partly because of slower long-run growth in advanced economies.

•  “World growth is mediocre and a bit worse than forecast in July,” the report said.

•  The IMF forecasts that growth in the 18 countries that use the euro will be just 0.8 per cent this year, down from 1.1 per cent in its July forecast. It lowered its 2015 projection to 1.3 per cent from 1.5 per cent.

Govt. clears 19 defence sector projects

•  The government, said it had cleared 19 long-pending defence sector projects, including that of Reliance Aerospace Technologies, Bharat Forge, Mahindra Telephonic Integrated Systems, Tata Advanced Materials and Punj Lloyd.

•  “Giving a big boost to ‘Make In India’, the Licensing Committee chaired by Secretary, Department of Industrial Policy & Promotion (DIPP), last week cleared 19 proposals for grant of industrial licence,” the Commerce and Industry Ministry said in a statement.

•  “It is expected that clearance of these 33 applications and the deregulation of the defence product list excluding a large number of components from the purview of industrial licensing will provide a major impetus to advanced manufacturing in defence sector,” the statement said.

•  Many of the 19 proposals have been pending with the government for the last several years. As per the liberalised policy, the FDI cap in defence has raised from 26 per cent to 49 per cent.

•  It also permitted portfolio investments of up to 24 per cent of the total equity of the investee/joint venture company under automatic route and doing away with requirement of 51 per cent equity ownership by a single Indian investor/company.

RBI considering G-secs settlement

•  The Reserve Bank of India is working towards allowing settlement of government bonds in the international systems like the Euroclear, Deputy Governor H. R. Khan said.

•  “We have the proposal of Euroclear and Clearsteam settlement. There is a budget announcement also on international settlement. So, we are working on it to see how we can balance between the loss of liquidity in the local market as well as providing ease of trading for overseas investors,” he told reporters on the sidelines of an event.

•  However, he did not offer a timeline for this. He said to start with only settlement of government bonds would be allowed on the international system.

•  When asked about whether the RBI is looking for further liberalising the external commercial borrowing (ECB) window, Mr. Khan said the bank had been cautious and it could not fully liberalise the route.

•  “We cannot open (the ECB window) fully given the current situation. The Sahoo committee has made certain recommendations and we are looking at that. It is not that we will open in a big bang way,” he said.

Emerging economies more vulnerable to shocks: IMF

•  The Global Financial Stability Report released by the International Monetary Fund (IMF) warns that the risk of shocks emerging from advanced economies hitting emerging economies, including India, has doubled since the collapse of Lehman Brothers in 2008, triggering a global financial crisis.

•  Reserve Bank Governor and former IMF Chief Economist RaghuramRajan has also warned of the vulnerability of the global economy and emerging market economies such as India to the U.S. Fed’s imminent reversal of its “Quantitative Easing” (QE) policy by which it kept interest rates at near-zero levels to spur domestic demand and kick-start the U.S. economy. This resulted in a flow of dollar investments into emerging markets such as India.

•  Mirroring Dr. Rajan’s views, the IMF report warns that how the U.S. Fed will conduct this reversal, the timing of the unwinding and the manner in which it will communicate the normalisation process, besides chances of escalation of geopolitical developments going forward, will determine global financial stability.

•  Market sentiment has been resilient, but the Fed will have to conduct the normalisation process in a manner that is in line with their economy’s levels of jobs.

•  At the same time, it must also be mindful of the repercussions of the QE unwinding on the rest of the world, Financial Counsellor and Director of IMF’s Monetary and Capital Markets Division said at a press conference at the release of the report.

IMF stresses labour reforms for India

•  The global economy needs a new momentum and a bold policies agenda to avoid a “new mediocre” period of low and uneven growth as it continues to struggle with a disappointing recovery six years after the Lehman Brothers’ collapse triggered a financial crisis, International Monetary Fund (IMF) Managing Director Christine Lagarde said.

•  Ms. Lagarde said the IMF was recommending country-specific infrastructure investments and structural reforms, including those for labour markets in emerging market economies such as India, as the imperatives for raising growth.

•  It was a question of getting on with the job and doing it and not just talking about building infrastructure to push growth, Ms. Lagarde said at a press conference at the onset of the IMF’s annual meeting of members. Finance Secretary ArvindMayaram is leading the Indian delegation to the meeting as Union Finance Minister ArunJaitley is recovering from a surgery. On India, Ms. Lagarde said India’s growth was better than expected.

•  Earlier this month, Ms. Lagarde had in a speech at Georgetown University here said: “The global economy is at an inflection point: it can muddle along with sub-par growth — a ‘new mediocre’ — or it can aim for a better path where bold policies would accelerate growth, increase employment, and achieve a ‘new momentum.’”

GIF launched, to help India tackle infrastructure deficit

•  World Bank President Jim Yong Kim, while launching the Global Infrastructure Facility (GIF), said the potential economic impact of the Ebola epidemic could be as high as $32.6 billion, if not quickly contained.

•  The GIF is aimed at mobilising the private sector to help tackle the massive infrastructure deficit now facing developing countries and emerging markets such as India. The World Bank estimates that these countries need $1 trillion a year in extra investments through 2020 and with public purses stretched, it is significant that the heads of some of the world’s leading institutional investors such as insurance and pension funds will be signing up as partners in the GIF.

•  Deep-pocketed institutional investors have $80 trillion in assets but less than a percentage of pension funds are allocated directly to infrastructure projects and the bulk of that is in advanced countries, Dr. Jim said.

•  He said the GIF would address the challenge of finding “bankable projects” as investible resources were available with the private sector. This was in line with Prime Minister NarendraModi seeking the World Bank’s technical support for the country’s infrastructure augmentation plans that he had raised in his meeting with Dr. Jim recently, the President said.

Financial reform is not difficult: RaghuramRajan

•  Underscoring the need for financial sector reforms, Reserve Bank of India Governor RaghuramRajan has stressed that the ‘time to deliver begins now’ and there is political will to undertake reforms and improve India’s economic growth.

•  “Financial reform is not difficult - we have the political will to improve,” the Indian Consulate here tweeted the RBI Governor as saying during an event. “Time to deliver begins now. We need to focus on deliverables,” another tweet quoting Dr. Rajan said.

•  The head of India’s central bank addressed a select gathering of prominent and influential Indian-American businessmen from the finance and investment banking sector at an event organised by the Consulate General in collaboration with the India-America Chamber of Commerce.

•  Outlining the major areas that require change and immediate implementation, Dr. Rajan said it was a good time to invest in the Indian economy now.

•  Developing infrastructure, improving quality of human capital, optimum regulation for good business and extensive financial sector reform should be the next steps for improvement and development of the Indian economy, according a press statement issued by the Consulate.

•  Dr. Rajan encouraged the Indian-American business community to get involved in the “nitty-gritty of the implementation process,” saying such involvement was not difficult especially since the Indian government had the political will to reform.

Economic recovery is likely only beyond December: RBI Governor

•  On a day when official data showed further weakening of the industrial sector, Reserve Bank Governor RaghuramRajan said that the Indian economy was expected to weaken further and a recovery was likely only beyond December.

•  He cautioned that despite the sharp surge in sentiment in the economy, captured by consumer and investor confidence surveys, including by the Reserve Bank, a pick-up in investments would take time.

•  “We have to accept that recoveries are not straight-line recoveries … there is volatility around the general trend … investment is yet to pick up on a strong basis, [though] we are seeing signs of the coming together of conditions for it [including a stable government that has signalled pro-investments initiatives] … there will be slight weakening compared with the first quarter in the second and third quarters, but beyond that we will hopefully see some strengthening of the economy,” he told.

•  Dr. Rajan is here to attend the International Monetary Fund (IMF) and World Bank Group annual meetings. Official data released in New Delhi showed factory output growth slowed further to 0.4 per cent in August, marginally lower than the 0.5 per cent in July.

Trade Unions in protest against ‘anti-worker’ policies

•  Trade unions such as the CITU, AITUC, IFTU, and TNTUC jointly organiseddharna at the Vizianagaram Collector’s office, in protest against the State government’s ‘anti-worker policies.’.

• The protesters said that after Chief Minister N. Chandrababu Naidu came to power, the government had retrenched around 9,000 field assistants and 3,000 work inspectors and others in the Housing Corporation and alleged that TDP cadres were now trying hard to appoint their men by replacing Anganwadi and Aashaworkers . “We will continue to protest until Mr. Naidu does not change his attitude,” they said.

IIP will not impact GDP growth: Nirmala Sitharaman

•  Union Minister of State for Commerce and Industry Nirmala Sitharaman, dismissed fears about the latest data on index of industrial production (IIP), saying they were overly worrisome and would not impact the country’s GDP growth.

•  The Minister, along with Minister of State for Textile Santosh Gangwar, was here to meet the stakeholders in the jute industry.

•  Responding to reporters’ queries, Ms. Sitharaman said over the last few months, the government had improved the ease of doing business. There were signs of revival, or else agencies such as Standard and Poor’s would not have assigned a stable outlook to India.

•  To a question on FTAs (free trade agreements), she said a review of SEZs (special economic zones) and FTAs was now in the final stages. The new Foreign Trade Policy, due to be announced soon, would give domestic manufacturers and exporters the benefit of the revisions.

•  She said her Ministry wanted better utilisation of the FTAs for boosting exports, adding that India was keen on FTAs with ASEAN countries.

• On WTO negotiations, Ms. Sitharaman said India believed in multi-lateral agreements, but not at the cost of the country’s sovereignty.

Overseas investors pull out Rs. 800 crore from stock market

INDIA AND THE WORLD

Pakistan violates ceasefire yet again

• In yet another ceasefire violation, the Pakistani Rangers resorted to small arms firing on forward Border Outposts (BoPs) along the international border in Jammu district.
•  “The incident occurred in Pargwal sectors of Jammu district around 10.30 a.m.,” District Magistrate of Jammu Ajeet Kumar Sahu said. “Their aim was to prevent farmers from harvesting their crops,” he claimed. As per reports, the areas which came under firing included JamanBela, Rajpurs, Maljudh, ChakPhagwari, Deora and Himarpur Kona BoPs in Pargwal and Jourian areas of Akhnoor.
•  The BSF troops retaliated, the District Magistrate said, adding that there was no loss of life or injury. There have been five cases of ceasefire violation in the past three days.

Substandard ‘India-made’ drugs in Africa

•  A group of researchers chasing the theory that Indian drug manufacturers cut corners and make substandard drugs for markets with non-existent or substandard regulations say they have evidence to bolster it.
•  In a working paper published on the website of the National Bureau of Economic Research, Roger Bate, Ginger Zhe Jin, AparnaMathur and Amir Attaran have found that in a qualitative appraisal of 1,470 drugs claimed to be “made in India,” 10.9 per cent failed a basic assessment of active pharmaceutical ingredients. This pilot study seeks to focus on drugs that are labelled “made in India,” as these are among the most commonly used in developing countries.
•  The samples that had the Indian label were from 14 unique manufacturers. But the authors remind us that the label “made in India” does not necessarily mean the actual manufacturer is an Indian firm.
•  “In a few instances, we obtained information that samples were faked by organised criminals in China,” they say.

India, China agree to step up military interaction

•  India and China have agreed to take solid steps to improve border management, including the establishment of a hotline between the two Army headquarters and designating additional border posts for meetings between local commanders.
•  Chinese Foreign Ministry spokesperson HuaChunying disclosed that both countries have decided to step up military-to military interaction during last week’s Working Mechanism for Consultation and Coordination on India-China Border Affairs (WMCC) held in New Delhi.
•  She said that during their meetings that commenced on October 16, the two delegations reached a broad consensus on steps that would yield peace and stability in the border areas, following candid, amicable and constructive consultations.

(General Awareness For Bank's Exams) International Events

October - 2014

US will help India to develop three smart cities

• In a boost to India's 100 smart city programme, the US will help India in developing three such cities apart from joining hands with civil society and authorities to provide clean water and sewage facilities in 500 cities in the country.

•  The three cities are Allahabad, Ajmer and Visakhapatnam.

•  This announcement was made after the talks between Prime Minister NarendraModi and US President Barack Obama. The Indian government plans to develop 100 smart cities and in this regard an allocation of Rs 7,060 crore was proposed in the Union Budget.

•  Winding up his whirlwind five-day US visit on 30th september, Prime Minister NarendraModi "thanked" America and called his trip a highly "successful and satisfactory".
  Afghanistan U. S. signed security pact to let troops stay

•  Afghanistan and the United States signed a security pact to allow U.S. forces to remain in the country past the end of year, ending a year of uncertainty over the fate of foreign troops supporting Afghanis as they take over responsibility for the country’s security.

•  Afghan, American and NATO leaders welcomed the deal, which will allow about 10,000 American troops to stay in the country after the international combat mission ends on December 31.

•  Former Afghan President Hamid Karzai had refused to sign it despite U.S. threats of a full withdrawal in the absence of legal protections for American forces. U.S. officials have said that the delay in the deal’s signing does not affect plans for next year.

•  President Ashraf GhaniAhmadzai, who was sworn into office a day earlier, told a crowd assembled at the presidential palace in the capital Kabul for the signing ceremony that the agreement signalled a fundamental shift for the positive in the country’s relations with the world.

•  “This agreement is only for Afghan security and stability,” he said in comments broadcast live on state television. “These agreements are in our national interest. The Bilateral Security Agreement will pave the ground for Afghanistan to take control,” he added.

Australia to launch airstrikes in Iraq

•  Australia’s prime minister said that the nation’s air force will launch airstrikes against Islamic State targets in Iraq.

•  The announcement has been widely anticipated since six F/A-18F Super Hornet jet fighters were pre-deployed to the United Arab Emirates in response to a formal request from the United States for specific contributions to the international coalition.

•  The seven cabinet ministers who make up the government’s National Security Committee approved the deployment after an official request was received from Iraq overnight.

•  Two unarmed Australian air force planes an E-7A Wedgetail surveillance and communications jet and a KC-30A refuelling plane joined operations over Iraq from the al-Minhad Air Base outside Dubai for the first time in support roles.

•  The Australian deployment also includes a 200-strong ground force, including special forces, to advise security forces inside Iraq, plus 400 air force personnel.

Tensions broke out in Hong Kong

•  Fresh scuffles broke out between Hong Kong pro-democracy protesters and opponents of the week-long demonstrations, reigniting concerns that the Chinese-controlled city's worst unrest in decades could take a violent turn.

•  The protests have been largely peaceful since police fired tear gas at crowds demanding Beijing grant Hong Kong the unfettered right to choose its own leader. But the mood turned ugly at the most volatile protest site, in the teeming suburb of MongKok where some criminal gangs are suspected to be based.

•  Police intervened to prevent a violent escalation, but a rowdy crowd of around 2,000 filled a major intersection and the atmosphere was highly charged as police in riot gear tried to keep them under control.

Hurricane Simon formed off Mexico's Pacific coast

•  Hurricane Simon formed off Mexico's Pacific coast, bringing further heavy rain and strong swells to Baja California, which was battered by heavy rains last month.

•  The U.S. National Hurricane Center said Simon was about 445 km south-southwest of the southern tip of Baja California, which suffered record damage from hurricane Odile in September.

•  Simon, with maximum sustained winds of 120 kph was moving toward the west-northwest and expected to continue in that direction before weakening and turning away from the coast.

•  Odile hit the popular beach resorts of Baja California two weeks ago, stranding thousands of tourists and knocking out power.

China tests ‘Dongfeng’ nuclear missile

•  China has flight-tested an upgraded version of its 10,000-km range Dongfeng missile which could reach most of the U.S. and European cities, days before its National Day on October 1, 2014 to demonstrate its nuclear capability, media reports said.

•  The People’s Liberation Army launched a Dongfeng-31B on September 25 from the Wuzhai Missile and Space Test Centre also known as the Taiyuan Satellite Launch Centre in Shanxi province, Hong Kong-based South China Morning Post reported quoting U.S. media reports.

•  The first flight-test of an upgraded mobile intercontinental ballistic missile in the lead up to National Day aimed to show the world that China was reinforcing its nuclear deterrent, it quoted military experts as saying.

•  The DF-31B is an upgraded version of the DF-31A and the launch was at least the second time the PLA’s Second Artillery Corps had tested a DF-31 missile in the past three months.

• The mobile missiles are designed specifically for travel over rugged terrain and in difficult road conditions.

IS progress toward Syrian town slowed by fresh strikes

•  Kurdish fighters backed by U.S.-led air strikes battled Islamic State (IS) jihadists for control of a key Syrian town and Turkey evacuated some border areas as mortar fire spilled over.

•  IS fighters seized part of a strategic hill overlooking the town of Kobane, a monitor said, but their progress was slowed by new strikes from the coalition of Washington and Arab allies.

•  A Syrian Kurdish official said IS fighters were just one km from Kobane and air strikes are not enough on their own to stop them.

•  The dusty border town has become a crucial battleground in the international fight against IS, which sparked further outrage this weekend with the release of a video showing the beheading of Briton Alan Henning.

Underwater search for Malaysian airliner

•  The hunt for Malaysia Airlines Flight 370 resumed in a desolate stretch of the Indian Ocean, more than six months after the jet vanished.

•  The GO Phoenix, the first of three ships that will spend up to a year hunting for the wreckage far off Australia’s west coast, is expected to spend 12 days hunting for the jet before heading to shore to refuel.

• Crews will use sonar, video cameras and jet fuel sensors to scour the seabed for the Boeing 777, which vanished for reasons unknown on March 8 during a flight from Kuala Lumpur to Beijing with 239 people on board.

•  The search has been on hold for four months so crews could map the seabed in the search zone, about 1,800 km west of Australia. The 60,000-square km search site lies along what is known as the “seventh arc” a stretch of ocean where investigators believe the aircraft ran out of fuel and crashed. Officials analyzed transmissions between the plane and a satellite to estimate where it entered the water.

•  Two other ships being provided by Dutch contractor Fugro are expected to join the Malaysian-contracted GO Phoenix later this month.

Britain-Ireland signs visa deal to benefit Chinese, Indian travelers

•  Britain and Ireland inked a Memorandum of Understanding (MoU) on visa cooperation to allow Chinese and Indian visitors to travel to the two island nations on a single visa.

•  The landmark visa deal will help Britain and Ireland share data and exchange information to inform and determine immigration decisions and allow visitors from India and China to travel more easily between the two countries, Xinhua reported citing the British Home Office.

•  “This agreement will make it easier and more attractive for travellers to visit both Ireland and Britain, while at the same strengthening Common Travel Area borders,” British Home Secretary Theresa May said.

•  The British-Irish Visa scheme will start in China by the end of October and in India soon afterwards, the Home Office noted.

•  China and India are both key markets for British and Irish tourism and more than 10,000 visitors are expected to use the scheme.

Turkey- Syrian border town about to fall to Islamic State

•  Turkey’s president says the Syrian border town of Kobani is about to fall to militants from the Islamic State group.

•  RecepTayyipErdogan made the comments during an address to Syrian refugees at a camp in Gaziantep province, near the border with Syria.

•  Erdogan said aerial bombardments alone may not be enough to stop the Islamic State group and called for support of opposition forces.

•  “There has to be cooperation with those who are fighting on the ground.”

Hong Kong “one country-two systems” protests

•  Hong Kong has been rocked by a spate of student-led protests that have swept across the city’s sensitive financial, administrative and shopping hubs. The agitation has sharply brought into focus the “one country-two systems” policy that defined Hong Kong’s transition from an erstwhile British colony to a Special Administrative Region (SAR) of the People’s Republic of China (PRC).

•  The protesters are clamouring for full democracy that includes open nomination of candidates for the post of Chief Executive (CE) of the territory in the elections scheduled for 2017. Their protests have acquired a sharp and emotive edge after Beijing was accused of reneging on its commitment to premise the entire electoral process from 2017 on universal suffrage, including the choice of candidates for Hong Kong’s highest office.

•  The high-profile protests that could, if they get prolonged, threaten Hong Kong’s status as one of Asia’s premier financial centers need to be analysed in their fuller context. During the entire period of British rule — a full 155 years following the Opium Wars — democratic advancement in the territory was minimal.

•  Post-1997 under Chinese sovereignty, the democratic reform process has begun to take shape, based on the Basic Law adopted by China in 1990. Under its terms, the CE would be elected by universal suffrage in 2017; but a committee would also be formed that would supervise nominations. While the agitating students, seeking unconditional democracy, may be unhappy with this law, the accusation that Beijing has reneged on its legal obligations is entirely flawed.

•  It is highly unlikely that despite the considerable force of the social media at their command and the sizeable mobilisation on the streets, the protesters will manage to persuade Beijing to change its mind on the fundamentals of its “one country-two systems” policy, which allows the people of Hong Kong to retain their distinctive legal and political system.

Canadian Parliament authorises air strikes in Iraq

•  Following a request from the U.S., Canada’s Parliament has voted to authorise airstrikes against the Islamic State militant group in Iraq

•  Prime Minister Stephen Harper’s Conservative Party introduced the motion last week and it was debated this week. Mr. Harper has a majority of seats in Parliament so the vote was all but assured. The motion authorises air strikes in Iraq for up to six months and explicitly states that no ground troops be used in combat operations.

•  The combat mission includes up to six CF-18 fighter jets, a refuelling tanker aircraft, two surveillance planes and one airlift aircraft. About 600 airmen and airwomen will be involved.

•  Canada is among dozens of countries that have joined the U.S.-led coalition fighting the Islamic State militant group.

•  “The threat posed by ISIL is real,” Mr. Harper said in a statement, referring to the Islamic State by one of its acronyms.

•  “If left unchecked this terrorist organisation will grow and grow quickly. They have already voiced their local and international terrorist intentions and identified Canada as a potential target.”

Resolve issues through talks: UN

•  Amid escalation of ceasefire violations along the Line of Control, U.N. Secretary-General Ban Ki-moon has asked India and Pakistan to resolve their issues diplomatically and through dialogue.

•  “The Secretary-General would call on both countries to resolve their issues diplomatically and through discussions,” Mr. Ban’s spokesperson StephaneDujarric told reporters in response to a question on whether the U.N. chief can play a role in bringing about peace between the two countries.

•  In escalating ceasefire violations, Pakistani troops targeted over 40 Border Out Posts and 25 border hamlets with heavy mortar shells in Jammu sector and LoC areas in Poonch district, leaving 12 people injured.

•  It came a day after five villagers were killed and 34 injured in one of the worst ceasefire violations by Pakistan.

•  Meanwhile, Pakistan has also lodged a protest with India on the alleged ceasefire violations and has even approached the U.N. Military Observer Group in India and Pakistan (UNMOGIP) office over the situation.

World’s oldest rock art discovered in Indonesia

•  Australian scientists have found what could be the world’s oldest figurative art in a cave in Indonesia, a report released said.

•  The team’s discovery of cave art on the island of Sulawesi, estimated to be about 40,000 years old, challenges the idea that the oldest artwork had originated in Spain and France, Xinhua reported.

•  The team’s study dates the earliest image, a hand stencil, to be at least 39,900 years old, 900 years prior to the world’s oldest known cave painting, a red disc in Spain.

•  The series of Indonesian images discovered also includes pig-like animals painted more than 35,400 years ago, possibly older than the earliest known figurative rock art in western Europe - a painted rhinoceros in France, estimated to be between 35,300 and 38,800 years old.

•  The report said the sheer volume of ancient cave art in Europe had pointed to the theory that the human capacity for abstract thinking originated there, but the new discovery makes the case that this development was occurring in Asia at the same time

China-Russia strategic gas project takes off

•  China and Russia have begun implementing their $400 billion mega-gas deal — a strategic project that would allow Moscow to lower its dependence on the European market, and open prospects of tapping the growing energy demand in the Asia-Pacific, with Beijing as the star consumer.

•  Russia’s eastward shift is anchored by the agreement to supply China 38 billion cubic meters of gas every year for 30 years. Gas flows will commence in 2018 after the lengthy Siberia Power Pipeline, having both Russian and Chinese components, gets completed.

•  The Chinese side froze the design and construction plan on its side for the pipeline, which will start in northeast China’s Heilongjiang province and terminate in Shanghai, China’s premier commercial and industrial hub. Construction is expected to start next year, covering three main segments before the pipeline terminates in Shanghai three years later.

•  Work on Russian segment of the pipeline, linking Siberia’s Kovyktin and Chayandin gas fields with the eastern port city of Vladivostok — a distance of 4,000 km — commenced last month.

•  Russian President Vladimir Putin has underscored the importance of the project by pointing out that Moscow and Beijing were now “launching a large-scale strategic project on the global level”.

•  Underscoring the energy deal’s larger geopolitical fall-out, he said that the “new gas pipeline will significantly strengthen [Russia’s] economic cooperation with the governments of the Asia-Pacific region and, first and foremost, with our key partner China”.

Hong Kong student leaders vow to continue protests

•  Thousands of pro-democracy supporters took to Hong Kong’s streets after protest leaders implored them to dig in for the long haul following the collapse of talks with the government.

•  But crowd numbers were below the tens of thousands seen during a series of mass rallies last week as protest leaders struggle to maintain their momentum. Crunch negotiations between protesters and Beijing-backed city officials were slated for 10th, but fell apart after the government pulled out blaming protesters for threatening to expand their campaign.

•  Student leaders blamed the government for pulling out of talks, and insisted they were still open to finding a middle ground. But they vowed no let up in their occupation of parts of Hong Kong despite growing public anger over the disruption they have caused.

G20 urges U.S. to support IMF reform

•  Finance Ministers and Central Bank Governors from G20 countries had sharp words for the U.S. Congress, with the Group Treasurer describing Capitol Hill as being a “very difficult… obstacle” in their bid to pass internal reform of the International Monetary Fund (IMF).

•  Issuing the Group’s statement during the annual fall meetings, Australian Finance Minister Joe Hockey, whose nation currently holds the Group’s presidency said,

•  “It does affect the U.S. and their reputation, when there is global agreement and in fact agreement from the White House to undertake IMF reform… For domestic reasons the U.S. Congress might not be moving on this issue but for global reasons the U.S. should move on this issue.” More broadly, the Ministers and Governors said regarding the world economy, “While some key economies are recovering, others face renewed weakness.”

•  Their statement also emphasised an agreement regarding a Global Infrastructure Initiative, and a Global Infrastructure Hub to support the Initiative, to be finalised before the Group leaders’ summit in November.

•  The issue of reforming the Bretton Woods institutions has been a long-standing one, particularly for emerging economic powers such as India and China, who have consistently argued that the changing global dynamics favours their economies and it is high time that the institutions’ constituent structure reflected this new reality.

•  In 2011, shortly before the announcement of the candidacy of current IMF Managing Director Christine Lagarde, its Executive Directors from the BRICS economies had openly revolted against the prospect of the top role remaining with a European.

Taliban criticises awarding of Nobel Peace Prize to Malala