Current Affairs For Bank, IBPS Exams - 02 October, 2015

Current Affairs for BANK, IBPS Exams

02 October 2015

:: National ::

India promised to make its economy more efficient

India has promised to make its economy more energy efficient and to cut emissions intensity of its GDP by 33-35 percent by 2030 from 2005 levels, in a climate-change policy statement released ahead of a U.N. summit in Paris in December.
India, the world's third-largest emitter of greenhouse gases, also said it would target 40 percent cumulative installed power capacity from non-fossil fuel sources by 2030.
New Delhi has ruled out committing to absolute cuts in carbon emissions, in contrast to the United States, China and other big nations which have announced peak years for emissions.
Preliminary estimates indicate India would need to spend around $206 billion between 2015 and 2030 for implementing adaptation actions in agriculture, forestry, fisheries infrastructure, water resources and ecosystems, it said..
A preliminary estimate suggests that at least $2.5 trillion will be required for meeting India's climate change actions between now and 2030, it said.
Prime Minister Narendra Modi met U.S. President Barack Obama and France and Britain's leaders last month, and called for a climate change agenda that helps developing countries with access to finance and technology.

:: India & World ::

India biggest loser in divided Nepal

Many years ago, while talking to this correspondent, former Pakistan Prime Minister Benazir Bhutto had wondered, "Is Nepal going the Afghanistan way?" At that time, the former Hindu kingdom was grappling with a "people's war" waged by Maoists that cost more than 16,000 lives.
Bhutto's observation looks prophetic now in light of the ongoing turmoil over Nepal's new constitution, which swears by the principles of federalism, secularism, parliamentary democracy and republicanism.
Nepal, which for almost nine years ran without a permanent constitution after it abolished monarchy, stands as bitterly divided as Afghanistan on ethnic lines.
Ethnic groups fighting for more autonomy are busy expanding their areas of influence. The most vociferous of them are Madhesis (Maithili, Bhojpuri, Avadhi, Hindi and Urdu-speaking people) and Tharus, who live in the terai bordering Bihar and UP.
In the hills, Limbus, Khambus, Magars, Gurungs, and Tamangs (Nepalis of mongoloid stock) are equally restive. These groups, along with Khasas (hill Nepalis of Aryan origin), have been serving the Nepali, Indian and British armies for generations.
In addition, sections of Nepalis, mostly Bahuns-Khasas, and some madhesi groups have been clamouring for a Hindu state.
But the Nepalis of mongoloid origin, who follow Buddhism or animism, oppose this demand.
Madhesis, who take pride in having "roti-beti ka rista" (socio-economic relationship) with India, have suffered discrimination. Suspicious of their loyalty, Nepal's former ruling elite and sections of hill Nepalis looked down upon them.
Nepalis of mongoloid origin, too, have been marginalised for centuries. A majority of Bahuns and Kashtriyas (the two communities that mainly comprised Nepali's elite) are equally poor. Tharus, most of whom were bonded labourers till the turn of the century, were the worst sufferers.
Comprising almost 30% of Nepal's population, madhesis are in a position to fight for their rights on their own. Their home — the terai — is known as Nepal's granary and houses most of the country's industrial units.
The madhesis first began to talk about their rights in 1990 when King Birendra reintroduced multi-party democracy after an agitation by Nepali Congress and United Left Front.
The madhesi movement got a boost when the Maoists made autonomy for all ethnic groups a major issue during its 10-year-old "people's war.
" After the end of monarchy, some madhesi extremists picked up arms to fight for their cause and got wiped out quickly. The terai, a narrow strip of flat land 20-40km in width, running from east to west, was not suitable for such an armed struggle.

:: Business ::

MUDRA Yojana: Check out top 5 points on whom it benefits

PM Narendra Modi-led government believes that development and growth have to be inclusive and through the Pradhan Mantri MUDRA Yojana it looks to implement a viable system of providing funding to the needy and help them, and the Indian economy, grow.
1. These measures to be taken up by MUDRA are targeted towards mainstreaming young, educated or skilled workers and entrepreneurs including /women entrepreneurs.
2. According to the NSSO Survey of 2013, there are some 5.77 crore small business units, mostly individual proprietorship, which run manufacturing, trading or services activities. These encompass myriad of small manufacturing units, shopkeepers, fruits / vegetable vendors, truck & taxi operators, food-service units, repair shops, machine operators, small industries, artisans, food processors, street vendors and many others.
3. Most of these ‘own account enterprises’ (OAE) are owned by people belonging to Scheduled Caste, Scheduled Tribe or Other Backward Classes.
4. The biggest bottleneck in the growth of entrepreneurship in this sector is the lack of financial support.
A vast part of the non-corporate sector operates as unregistered enterprises and formal or institutional architecture has not been able to reach out to meet its financial requirements.
5. Providing access to institutional finance to such micro/small business units/enterprises will not only help in improving the quality of life of these entrepreneurs but also turn them into strong instruments of GDP growth and employment generation.

:: Sports ::

Indian women’s cricket team 4th in ICC multi-format rankings

The Indian women’s cricket team is now fourth in the latest ICC team rankings with the new and innovative multi-format system in place.
The new rankings system will incorporate the results of Twenty20, ODI and Test matches and then come out with a single rating.
Not surprisingly, Australia are ranked number one following its success in the ICC Women’s World Cup 2013 in India and the World Twenty20 2014 in Bangladesh.
It also leads the ICC Women’s Championship, which is the qualifying tournament for the 2017 World Cup.
England are ranked second in the 10-team table, 10 points behind Australia, followed by New Zealand (109), India (105), West Indies (99), South Africa (92), Pakistan (81), Sri Lanka (74), Bangladesh (57) and Ireland (26). Teams will be added to the table as and when they reach the required standard.
The launch of the ICC Women’s Team Rankings is part of the ICC’s long-term commitment to investing, incentivising, promoting and publicising women’s cricket, which has already started to drive substantial increase in public interest and participation as well as a marked improvement in the standard of the international game.
The world’s fourth-ranked batswoman and Indian captain Mithali Raj said, “I am happy to know that the ICC has launched the ICC Women’s Team Rankings. There will now be added context when the sides play in bilateral series as victories will not only edge teams closer to the ICC Women’s World Cup but will also be rewarded in terms of improvement in rankings.