Current Affairs For Bank, IBPS Exams - 09 December, 2015

Current Affairs for BANK, IBPS Exams

09 December 2015

:: NATIONAL ::

Delhi Govt comes up with details of odd-even formula

First phase of plan from January 1-15, impact of first phase will decide its extension.
Vehicles ending with odd number to run on dates starting with odd number similarly for even number.
This will be applicable only between 8 am to 8 pm and Sunday's will be free for all.
1000 more buses will be put on roads to check the extra traffic.

Difference between Kerala and Tamil Nadu over Mullaperiyar dam

As heavy rain brought the water level in the Mullaperiyar dam closer to the permissible limit of 142 feet, the Kerala government is preparing to move the Supreme Court against Tamil Nadu for the failure to comply with dam safety regulations.
Three spillway shutters of the Mullaperiyar dam were lifted by half a foot following a surge in inflow.
The water level was 141.78 ft at 5 p.m. on Tuesday. Against an inflow of 2,600 cusecs, Tamil Nadu drew 2,000 cusecs while 600 cusecs were released into the Idukki reservoir through the Periyar river.

‘Reality check of India’ fight with TB

“Out of Step 2015” re- port on TB policies in 24 countries, including India, was presented recently at the 46th Union World Conference on Lung Health in Cape Town, South Africa.
The report was jointly prepared by Stop TB Partnership and MSF Access Campaign.
Despite recording 71,000 MDR-TB cases (both new and retreatment) in 2014, the Indian TB policy continues to recommend the use of Category II treatment regimens contain- ing streptomycin. It uses the drug.
unlike South Africa, Brazil and the Russian Federation which have rec- ommended rapid molecular testing (Gene Xpert) instead of sputum smear microscopy as the initial diagnostic test for all presumptive TB cases, India has recommended its use only for people at risk of multidrug-resistant TB.

Forest survey of India report 2015

As the crucial COP 21 climate negotiations go on in Paris, there is something for the coastal ecosystem in India to cheer about.
The latest report of the Forest Survey of India (FSI), 2015 released in the first week of December has recorded a net increase of 112 sq. km. of mangroves forest — one of the regions most vulnerable to climate change.
The earlier FSI report in 2013 recorded a net decrease of 34 sq. km. of mangrove forest.
According to the latest report, the overall mangrove cover in the country stands at 4,740 sq. km., which is 0.14 sq. km. of India’s overall geographical area.
In fact, there are only 12 States and Union Territories along the country’s coastline that can boast of mangroves.
West Bengal, which has a total mangrove cover of 2,106 sq. km., accounts for 44.5 per cent, the highest in the country. It is followed by Gujarat with about 1,107 sq. km.
Andaman and Nicobar islands also has a considerable mangrove forest cover with 617 sq. km. of it.
As per the report, the very dense mangrove forest in the country comprises 1,472 sq. km. (31.05 per cent), moderately dense mangrove spans 1,391 sq. km (29.75 per cent) and open mangroves constitute 1,877 sq. km. (39.60 per cent).

:: INDIA AND WORLD ::

India for better relationship with Pakistan

The theme of the conference jointly hosted by Pakistan and Afghanistan, is ‘Heart of Asia-Istanbul Process: Enhanced cooperation for countering security threats and promoting connectivity in the Heart of Asia region.’
Ms. Swaraj’s presence has heightened the sense of drama in Islamabad.
The presence of an important Minister from New Delhi has turned the Heart of Asia conference into a platform where both India and Pakistan can discuss many other bilateral issues apart from their future roles in Afghanistan.
The conference is already being noted for bringing together President Ashraf Ghani with the top handlers of Pakistan’s Afghanistan strategy.

:: INTERNATIONAL ::

No end to South China Sea tensions

Russia’s decision to export is highly capable Su-35 planes is expected to bolter China’s military presence in the South China Sea. It is also set to escalate military technology exchanges that would help Beijing and Moscow develop cutting edge weapons.
After protracted negotiations that lasted several years, Russia finally relented to sell China, 24 Su-35 planes.
$2 billion deal means that transfer of technology, which Beijing badly requires to develop the next generation of weapons, is part of the contract.
China will benefit from the purchase of the Russian jets in three ways. First, the acquisition of 24 Su-35 planes would greatly extend China’s reach over the South China Sea.
Su-35 planes, capable of taking off from short runways, will cover a large footprint if deployed from China’s newly developed artificial islands in the South China Sea. Second, the Russian jets can effectively counter the U.S. F-35 stealth fighters.

:: BUSINESS ::

e-commerce will enter in mutual fund and crowd fundng

Capital markets regulator the Securities and Exchange Board of India (SEBI) will soon put in place norms to help entrepreneurs raise funds through ‘crowdfunding’.
While discussions are also underway to allow sale of mutual funds through e-commerce platforms.
A SEBI-constituted committee, headed by Infosys co-founder N. R. Narayana Murthy, to suggest ways for raising of funds through crowdfunding is likely to submit its report in a month.
The markets regulator had earlier come out with a discussion paper for crowdfunding norms to help young entrepreneurs and small groups of people raise funds.
Crowdfunding typically involves young entrepreneurs and small groups of people raising funds for their ventures through various online platforms involving individuals and organisations.
SEBI Chairman also said the regulator was actively working towards making it possible for mutual funds (MF) to sell their schemes on e-commerce platforms.

Healthy signs for Indian softwarefirms

Software market in India is expected to grow at 12.8 per cent to reach $5.3 billion in 2016, research firm Gartner
The growth is being driven by trends like increasing adoption of Software as a service (SaaS) and open source software (OSS), changing buying behaviours and purchasing styles associated with digital business and Digital India initiative of the Indian government.
the Indian government is serious about leveraging information technology for effective governance.
The Digital India initiative, MyGov citizen portal, the Self-Employment and Talent Utilization (SETU) program for startups, and smart cities initiatives are some examples

Non- tax revenue on the up

The huge increase in non-tax revenue to Rs 1,43,633 crore from Rs.94,704 crore can mostly be attributed to the ‘Economic Services’ component of the ‘Other Non-Tax Revenue’ segment.
One large component of this economic services segment is revenue earned through the energy sector, due to the auctions taking place there, and another is the revenue the government is earning in stages from the telecom auctions conducted last year
Another area contributing to the increase in non-tax revenue is the dividends and profits accruing to the government, especially what was transferred from the Reserve Bank of India (RBI) to the government
The increase in tax revenue can mostly be explained by the fact that indirect tax collections in the form of customs, excise and service tax have increased significantly due to revenue-generating measures taken by the government over the last year such as increasing the excise duty on petrol, diesel and tobacco, and increasing the service tax rate.

Budget may drop plan, non-plan classification of expenditure

The Centre is looking to do away with the practice of classifying expenditure as ‘plan and non-plan’ in the Budget documents as part of an effort to improve the link between spending and outcomes,
The distinction, in the budget due to be presented in February 2016, could be between ‘capital and revenue’ spending—a proposal first mooted in 2011 by Dr. C. Rangarajan.
In the backdrop of the abolition of Planning Commission and setting up of NITI Aayog, the classification of expenditure as plan and non-plan is in the way of losing its relevance
For the remainder of the XII Plan, which will run till 2017, the current practice will continue but after that the new distinction was expected to be adopted also at the state level, the Finance Secretary clarified.
Finance secretaries of 29 States and two UTs participated in the conference convened against the backdrop of 14th Finance Commission’s recommendations, which are being implemented from 1st April, 2015 and will continue to be in place till March 31, 2020

Direct tax benefits to SEZ will continue

The Export Promotion Council for export oriented units and Special Economic Zones (EPCES) has opposed a proposal being considered by the finance ministry for abolition of all direct tax benefits for SEZs not operationalised before April, 2017
Following the implementation of Minimum Alternate Tax and Dividend Distribution Tax, imposed by the previous UPA government in the FY12 Budget, there is already a slowdown in SEZ sector in terms of growth in exports from these enclaves, reduced number of SEZ notifications, slower operationalisation of SEZs and increased number of applications for de-notification of approved SEZs.
If the proposal for abolition of direct tax benefits for SEZs not operationalized before April, 2017 is also implemented, it will further dent the investor friendly image of SEZs, he said. SEZ Act was enacted to provide long term stability and continuity to the SEZ Scheme, he added.

:: SPORTS ::

Football academy of BRICS came in Delhi

With hopes of catching young talent and providing professional support for the development of football, Delhi Dynamos FC, on Tuesday, announced the launch of the Delhi Dynamos BRICS Football Academy in India.
The academy, catering to players above five years of age, will focus on exposure to international coaches and players, and providing 360-degree support, including education, in world-class facilities.
DDFC will also represent host India in the BRICS Under-17 Football Cup 2016, and participate in all grassroots and CSR-related activities of BRICS.