Current Affairs for BANK, IBPS Exams 01 May 2016

Current Affairs for BANK, IBPS Exams

01 May 2016

:: NATIONAL ::

Fire in Uttarakhand still continuing after 10 days

As large parts of Uttarakhand’s forests were engulfed by fire, three teams of the National Disaster Response Force were deployed for Kumaon and Garhwal regions and 6,000 forest staff struggled to contain the flames.
The emergency in many districts is visible from several distant areas, as forests continue to burn, 10 days after the first fires were seen. Many areas are covered by smoke from burning forests.
In response to the growing crisis, especially in Pauri, Nainital, Tehri and Dehradun districts, thegovernment has deployed NDRF teams. Two IAF helicopters would join the operations in Kumaon and Garhwal on Sunday, he said.
Mi-17 chopper of the IAF has been stationed near Bhimtal and it will spray water from the Bhimtal lake.
Some 922 instances of fire have fanned across 2,000 hectares so far. Widespread fire could also be attributed to the presence of pine trees in 18 per cent of the forests.
Since the British period there has been a monoculture of pine trees in many forests of Uttarakhand. Their leaves can catch fire easily.

Apex court ordered that only taxi’s running with CNG should operate in Delhi

Applying the brakes on diesel-run cabs in Delhi, the Supreme Court ordered that only taxis running on compressed natural gas will be allowed from May 1.
A three-judge Bench led by Chief Justice of India T.S. Thakur said two extensions had been given to taxi operators to shift from diesel to CNG in the larger effort to curb air pollution.
The Supreme Court on December 16, 2015 banned fresh registration of high-end cars with over 2000 CC engine capacity, continued with its October 2015 order to impose Environmental Compensation Cess (ECC) on commercial vehicles entering Delhi and ordered diesel taxis operating in NCR to shift to CNG.
The omnibus order was based on a 1984 PIL filed by environmental activist and lawyer M.C. Mehta ringing the alarm bells on the untrammelled air pollution in Delhi.
The court had originally given taxis time till March 1, 2016 to effect the change-over. When this did not work, the apex court stretched the deadline to March 31. Finally, a last opportunity was given till April 30.
As cab operators protested that the order would be a roadblock and violate their right to earn a livelihood, the Supreme Court remained firm, saying they have no choice but to comply in the larger public interest and convert to CNG.
60,000 taxis are registered in Delhi and of them 21,000 run on diesel.About 40 lakh vehicles ply on Delhi’s roads daily, including 10 to 12 lakh floating vehicles.
A significant majority of these are goods carriers and cabs registered in Noida, Ghaziabad, Gurgaon, Faridabad and other parts NCR.

Labour Minister says govt will look to increase min wages

Union Labour Minister has criticised trade unions for being politically motivated and said they are unable to accept the speed at which economic reforms are being undertaken by the Centre.
The Minister said that the government was striving to raise minimum wages as well as the minimum monthly pension for EPF members.
Union Labour and Employment Minister slammed trade unions for be- ing politically motivated and said they are unable to make peace with the speed at which economic reforms were being undertaken by the government.
At present, 8.33 per cent of a worker’s salary up to Rs 15,000 a month, is remitted to the Employees’ Pension Scheme of 1995.
The UPA had offered a minimum pension of Rs.1,000 under the scheme in its last year in office, but hadn’t provided funds for subsequent years. The government fixed that in September 2014.
The Minister said the Labour Ministry is working on a formula to increase the minimum wages of all workers keeping in mind the consumer price index, variation of dearness allowance and guidelines given by the Supreme Court.
The government has proposed Industrial Relations Bill tightening the norms to form trade unions.
It has proposed that no outsiders be allowed to become officer bearer of a trade union in the organised sector and only two outsiders can be allowed in the unorganised sector.

Simhastha Kumbh Mela under way in Ujjain

The Simhastha Kumbh Mela under way in Ujjainwill see not just the ritually sanctioned days of baths in River Shipra, but Prime Minister Narendra Modi is also scheduled to attend the unveiling of the “Simhastha Declaration” on May 14.
BJP president Amit Shah, along with members of all 47 Scheduled Castes in Madhya Pradesh, will take a dip in the Shipra on May 11, the day of the ‘ shahi snan’ . The event has been termed “social harmony bath”
The Simhastha declaration will be a prescription on how “a duty-centred system, which had been the origin of Indian philosophy of life, has become the most relevant today.
It will be the essence of a long exercise of seminars on religion, spirituality and its relationship with science, climate change and deep ecology to finally expound on how this can be leveraged for social and environmental challenges.
Kumbh Melas in ancient India were not just about baths and holy days, but also the tradition of shastrarth or debate and discussions by socially influential people and dharma gurus on what is going on in society and how to deal with it.
Religious and social leaders of all faiths and areas, including Judaism, practitioners of the Barelvi sect in Islam, Methodists, and members of the Russian Orthodox Church, had been part of this year-long exercise.
Some of it was happening in Indore [near Ujjain] at the height of the debate on intolerance that was sweeping the rest of the country.

:: International ::

Copyright on Maurice Ravel’s ‘Bolero’ expired

Almost 90 years after it was first performed in Paris, the copyright runs out on Sunday on one of the most popular and unique pieces of classical music, Maurice Ravel’s ‘Bolero’.
Written in 1928 and performed on November 22 of that year at Paris’ Opera Garnier, the symphonic work, which grows steadily louder as it progresses, was originally a ballet piece ordered by Russian dancer Ida Rubinstein.
Immediately hailed by critics, it quickly became a worldwide success, even if the uniform melody and hypnotic, repetitive rhythm left some baffled.
Mr. Petitgirard described it as “an experimental piece, a precision mechanism and a demonstration of genius.”
But a contemporary of Ravel’s, the French composer Florent Schmitt, slammed the Bolero as “only error” in the composer’s career.
Almost 90 years later, the work has been performed by some of the most prestigious orchestras in the world, under the baton of many of the top conductors, including Arturo Toscanini, Seiji Ozawa, Claudio Abbado and Pierre Boulez.
It has been used in numerous ad campaigns, by British ice skaters Jayne Torvill and Christopher Dean in their gold medal-winning performance at the Sarajevo Olympics in 1984.
By some estimates Bolero has generated around 50 million euros ($57 million) in royalties since 1960, part of more than 400 million for all of Ravel’s works.
Ravel died unmarried and childless in 1937.

Moderate Iranian politicians make impressive comeback

Reformist and moderate Iranian politicians allied with President Hassan Rouhani won second round parliamentary elections, preliminary results said, capping a remarkable comeback after years of isolation.
Of the 68 seats being contested, 36 went to the pro-Rouhani List of Hope coalition and 17 to conservatives with just four constituencies yet to be declared, according to official results.
That would give reformists at least 131 seats in the new 290-member Parliament, 15 shy of a majority but more than their rivals’ 124 MPs.
Remaining seats went to independents who could hold the balance of power. The second round was needed because no candidate won the minimum 25 per cent required in the first round.
The outcome represents a significant realignment of competing factions in the Islamic republic, with conservative MPs losing their dominance and being outnumbered for the first time since 2004.
The result is also an implicit public vote of confidence for Mr. Rouhani, who won a landslide election victory in 2013 and went on to clinch a historic deal with world powers over Tehran’s nuclear programme that lifted sanctions.
Tallies also showed 17 women were elected — eight more than at present and the highest female representation since the country’s revolution in 1979.

:: Business and Economy ::

Telecom panel for auction of all spectrum at TRAI prices

The Telecom Commission has favoured auctioning all available spectrum at the reserve price suggested by the Telecom Regulatory Authority of India (TRAI). A sale at such price could fetch the government about Rs.5.36 lakh crore.
The Telecom Commission was also of the view that companies winning spectrum in higher frequency bands, above 1GHz (1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz), should make 50 per cent upfront payment instead of 33 per cent.
For spectrum purchased in the below 1GHz band (700 MHz, 800 MHz and 900 MHz), companies would require to pay 25 per cent as upfront payment and the rest over 10 years after two years of moratorium.
The auction of airwaves, which is to be held in July this year, will include 700 MHz spectrum for the first time in the country at a pan-India reserve price of about Rs.11,500 crore per MHz.
The 700 MHz spectrum is considered to be the most suitable for offering high speed broadband services.
However, the operators had asked the sale to be held back till the device ecosystem is put in place.
The cost of delivering mobile services in 700 MHz band is also approximately 70 per cent cheaper than 2100 MHz band (used for 3G services).
For 1,800 MHz spectrum, widely used for offering voice services, the telecom regulator had recommended the reserve price of Rs.2,873 crore.
For spectrum in 900 MHz band, 800 MHz band, 2100 MHz band and 2300 MHz band, the reserve price was kept at Rs.3,341 crore, Rs.5,819 crore, Rs.3,746 crore and Rs.817 crore, respectively.
The regulator has recommended that the reserve price for 2500 MHz spectrum, which is also on the offer for the first time, to be kept equal to that of 2300 MHz spectrum.

The Centre’s ambitious National LED programme will go nationwide

The Centre’s ambitious National LED programme — Unnat Jyoti by Affordable LEDs for All (UJALA) — will be implemented across the country by 2019, Minister for Power and Coal said.
Since the UJALA scheme was launched a year ago on May 1, a total of 9 crore LED bulbs were sold in the country, which means people will get the benefit of Rs 5,500 crore in their electricity bills. It will be implemented across the country by 2019.
Nearly 77 crore incandescent bulbs will be replaced till 2019 in the country which will ensure an annual benefit of Rs.40,000 crore to the people in their electricity bills and this will lead the country to fulfil its need of energy security.

Foreign exchange reserves continue to increase

India’s foreign exchange reserves increased marginally to $361.60 billion as on April 22 against $360.25 billion on April 15, the Reserve Bank of India said.
Foreign Exchange Reserves in India averaged 193419.62 USD Million from 1998 until 2016.