Current Affairs for BANK, IBPS Exams 08 September 2016

Current Affairs for BANK, IBPS Exams

08 September 2016

:: National ::

Railway introduced flexifare scheme on selected trains

The Railways introduced the surge pricing system on the Rajdhani, Duronto and Shatabdi trains with effect from September 9.
Under the new ‘flexi fare system’, usually followed by airlines, the base fare of tickets will increase with the rising demand.
The base fares will increase 10 per cent with every 10 per cent of berths sold, the Railway Ministry said.
Fares can go up to a maximum of 1.5 times the original base fare.
While the first 10 per cent of the seats will be sold at the normal fare, the base fare will increase by 10 per cent with every 10 per cent of berths sold.
Once half the tickets are sold, the rest will be sold at 1.5 times higher base fares for 2S, sleeper and 2AC coaches, and 1.4 times higher for 3AC coaches.

Supreme court says first information report needs to be published within 24 hrs

The Bench however exempted from publication FIRs in certain cases. These include cases of insurgency, child abuse, sexual offences and terrorism.
The FIRs registered in these categories would continue to be away from the public eye owing to issues of privacy and national interest.
The court agreed to a submission by the Centre, that the list of such sensitive cases should be illustrative and not exhaustive.
The decision to not post the FIRs in such cases would be taken by a police officer not below the rank of a Deputy Superintendent of Police or the District Magistrate, who need to communicate it to the jurisdictional magistrate.
In case of complaint against such non-publication of FIRs, the Superintendent of Police in rural areas and Police Commissioner in metros, will form a committee of three officers, which will decide on the complaint in three weeks.
In areas where Internet access is limited, the Bench extended the deadline for publishing the FIR on websites to 48 hours, which can still further be stretched to a maximum of 72 hours.
Accused persons cannot take advantage of delay in uploading of FIRs and seek anticipatory bail on that ground, the court specified.
The Delhi HC in its judgment on December 6, 2010, had upheld the right of the accused to get copies of FIRs even before the local Magistrate ordered the police to do so under Section 207 of the Code of Criminal Procedure.

Andhar Pradesh to get special package

It was suspense unlimited for the Andhra media contingent, which had been camping outside the room of Union Finance Minister, as the promised press briefing on the subject kept getting postponed.
As things stand, A.P. won’t get special status, a promise made by the UPA led by Manmohan Singh and subsequently made an electoral promise by the Telugu Desam-BJP combine.
It is likely that the announcement would be some kind of a ‘special package’ Indications are the delay is on account of the continuing discussions within the Modi government and consultations with Mr. Chandrababu Naidu.
In a 2015, a report of the Accountant-General of India had said that the residuary State is entitled to a payment of Rs. 14,423 crore as compensation for the revenue loss it experienced due to the bifurcation.
The Accountant-General has submitted his report to Niti Aayog which will take a final call on the final reimbursement to the State.
The bifurcation of Andhra Pradesh significantly impacted resource flow, economic development and the levels of publicly provided services for the two new States.
At the centre of this bifurcation is the capital city of Hyderabad, which has been declared common capital of the two States for 10 years. However, its revenues will go to Telangana.

:: India and World ::

India summons Pakistan High Commissioner Abdul Basit

Pakistan High Commissioner Abdul Basit was summoned to the Ministry of External Affairs and told that Islamabad should let Indian diplomats posted in Pakistan work “without hindrance.”
Meeting Mr. Basit, Sujata Mehta, Secretary (West) took up the issue of “discourtesy” to Indian envoy Gautam Bambawale in Karachi.
The incident of discourtesy involved the Karachi Chamber of Commerce where a speech on India-Pakistan trade ties by Mr. Bambawale was cancelled barely an hour before the event was to take place on Tuesday.
A senior diplomatic source based in the High Commission of Pakistan in Delhi, said that Mr. Bambawale’s visit to Karachi was a privilege granted to him which turned controversial after his comments during the event.

India-Japan pledged for ties in areas of counter-terrorism, civil nuclear cooperation

India and Japan pledged to strengthen ties in the key areas of counter-terrorism, civil nuclear cooperation, trade and investment as Prime Minister Narendra Modi held talks with his Japanese counterpart Shinzo Abe.
Mr. Modi, conveyed his condolences to Abe for the Japanese lives lost in the recent terror attack in Bangladesh when 22 people were killed after Islamist militants stormed a cafe popular with foreigners.
Mr. Abe said Japan was not going to succumb to terrorism and expressed the desire to further strengthen cooperation with India in the area of counter-terrorism.
The two leaders discussed further strengthening and diversification of trade and investment ties.
Prime Minister Modi noted that Japan had technology and innovation while India had the power of youth and a huge market.
The India-Japan partnership could, therefore, produce global products and be a win-win partnership for both, Mr. Modi said.
The two leaders discussed the upcoming Japanese industrial parks in India and the cooperation in the area of ship breaking.
They also reviewed the progress in the India-Japan Civil Nuclear Cooperation Agreement negotiations and the high-speed rail project, Mr. Swarup said.
Mr. Modi appreciated the consistent support rendered by Japan in India’s infrastructure development, technology upgradation and skill-building.
Premier Abe recalled that 2017 will mark the 60th anniversary of the Japan-India cultural agreement. He hoped to see more Indian tourists visiting Japan.

:: Business and Economy ::

Canada hopeful of reaching agreement to supply more Uranium to India

Canada was hopeful of reaching agreement to supply energy-hungry and fast-growing India with more uranium than the 3,000 metric tonnes that has already been agreed upon.
During Prime Minister Narendra Modi’s visit to Canada, a pact was inked for Canada’s Cameco to supply India 3,000 metric tonnes of uranium over five years at an estimated cost of $254 million.
Asked about the possibility of more uranium supplies, Mr.Carr said it depended on the continuing conversations and bilateral negotiations between Canadian business leaders and Indian officials.
Canada and India are among the 21 Mission Innovation partners who have committed to doubling government investments in clean technology research and development and stimulating private sector investment in clean technology.
Citing the fall in oil prices, he said it was an opportunity for countries to prepare for a transition from fossil fuels to renewable energy.

India has signed a MoU with Greece to allow unlimited number of flights

India has signed a memorandum of understanding (MoU) with Greece to allow unlimited number of flights into each other’s countries.
Greece will become the first country with an open sky arrangement under India's new civil aviation policy.
Under the new civil aviation policy, India plans to enter into ‘open sky’ air service agreements (ASA) with SAARC countries and with countries beyond 5,000 km radius from Delhi.
Countries sign ASAs through bilateral negotiations to decide on the number of flights that airlines can fly into each other’s countries. Under the open sky pact, there is no restriction on flights or seats.
India will allow airlines from Greece to operate unlimited flights to six Indian metropolitan airports. However, Indian carriers can fly to Greece without any such restriction.
India has an open sky agreement with the U.S. and a near open sky agreement with the U.K. under which there are certain limitations on the number of flights that can be operated at the Mumbai and Delhi Airports.
Major domestic airlines such as IndiGo, Jet Airways and SpiceJet had recently complained over non-availability of commercially and operationally feasible slots for them at the Dubai Airport.
India will invest $6 billion for building and modernising the airport infrastructure in the next five years.