Current Affairs for BANK, IBPS Exams - 13 December 2017

::National::

Cabinet committee wants exclusive sub-plan for BCs

• The Cabinet sub-committee constituted to study the condition of backward classes and make recommendations for their uplift has recommended that the government implement an exclusive sub-plan for BCs on the lines of SCs and STs.
• The Cabinet panel favoured a comprehensive survey by the BC Commission to ascertain the exact number of BC families in the State.
• It recommended that the government construct skill development centres for BCs in the name of Mahatma Jyothiba Phule to hone the skills of these communities enabling them to face the competition.
• BC Welfare Minister Jogu Ramanna said the panel had proposed reservations to BCs in education and employment in addition to setting up two degree colleges in each of the 31 districts.

Australia and India discussed the need to maintain the Asia-Pacific region as a free

• Continuing with the strategic bilateral discussion, Australia and India on Tuesday discussed the need to maintain the Asia-Pacific region as a “free” and “open” zone under the “2+2” dialogue model which includes the foreign and defence secretaries of both sides.
• The discussion was the first meeting of this level since the two sides participated in the quadrilateral discussion for a new strategic partnership targeting the Asia-Pacific region.
• “Both sides agreed that a free, open, prosperous and inclusive Indo-Pacific region serves the long-term interests of all countries in the region and of the world at large. There is a growing convergence of strategic perspectives between the two countries,”.
• The “2+2” dialogue was held between Foreign Secretary S. Jaishankar and Defence Secretary Sanjay Mitra and their Australian counterparts Frances Adamson and Greg Moriarty.
• The dialogue indicated that the focus remains on freedom of navigation in the South China Sea, where China has been reclaiming land for infrastructure, boosting its maritime influence.
• “All aspects of bilateral relations with a focus on strategic and defence relations between the two countries were reviewed,” the MEA said. Australian PM Malcolm Turnbull and PM Modi had met on the sidelines of the East Asia Summit in Manila in November.

Election Commission said there was no room for any electoral malpractice

• EC said there was no room for any electoral malpractice during the first phase of the Assembly elections due to its robust security and administrative protocols for the handling of Electronic Voting Machines (EVMs) and Voter Verifiable Paper Audit Trail (VVPATs).
• The Commission, in a statement, reassured the voters that “it would leave no stone unturned in preserving the purity, integrity and credibility of the elections and reinforcing the faith and trust of the people in the electoral democracy of our country.”
• The EC said it had put in place an elaborate framework of administrative system, security protocols and procedural checks and balances in Gujarat, which prevented any possible misuse of the machines or any procedural lapses in their use.
• The safeguards were being implemented transparently “with the active and documented involvement of political parties, candidates and their representatives at every stage.”

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.::International::

The first Russian troops returned home from their deployment in Syria

• The first Russian troops returned home from their deployment in Syria, the army said, beginning a partial withdrawal announced by President Vladimir Putin.
• “The battalion of military police from the southern military district (of Russia) deployed to the Syrian Arab Republic has been flown by two military planes to Makhachkala (the capital of Dagestan) airport,” the Russian Army said in a statement.
• State television broadcast images of soldiers marching out of the aircraft onto a sunny runway. The crews of Tu-22M3 bombers also returned to a military airport in North Ossetia before flying out to their permanent base in central Kaluga region, the army said.
• On a visit to Syria, Mr. Putin ordered the partial withdrawal of Russian troops, saying their task had been largely completed. It was the third announcement of a partial withdrawal since troops were deployed in 2015.
• Mr. Putin did not clarify how many soldiers will be returning home this time. RBK news agency cited sources as saying that Russia will pull out two-thirds of its contingent, both personnel and equipment, from Syria, which could take up to a month.
• The size of the Russian deployment in Syria is not known but independent Russian military expert Pavel Felgenhauer has told AFP that up to 10,000 troops and private contractors could have taken part in the conflict.

::Business and Economy::

Govt. issued guidelines for the procurement of wind power

• The government issued guidelines for the procurement of wind power through a bidding process, which included the standardisation of the process and a definition of the roles and responsibilities of various stakeholders.
• “The guidelines are applicable for procurement of wind power from grid-connected wind power projects (WPP) having- (a) individual size of 5 MW and above at one site with minimum bid capacity of 25 MW for intra-state projects; and (b) individual size of 50 MW and above at one site with minimum bid capacity of 50 MW for inter-state projects,” the Centre said in a release.
• The guidelines include provisions for compensation in case of grid unavailability, put out a payment security mechanism, standardise the bidding process, and spell out the risk-sharing framework among stakeholders.
• The payment security approved in the new bidding guidelines has not been seen in PPAs [power purchase agreements] signed by the state distribution utilities [discoms] with wind power developers in the past.

India is holding its ground on issues such as food security

• Midway through the negotiations involving 164 World Trade Organisation (WTO) member nations being held here, India is holding its ground on issues such as food security as well as the centrality of development in the talks.
• However, a notable group of countries, including Pakistan and China, have demanded taking forward discussions on investment facilitation and proposed norms relating to small firms.
• According to India, these are “new issues” and, therefore, should be considered only after resolving outstanding issues relating to food security that are part of the ongoing round of negotiations which began in Doha in 2001.
• The Argentinian capital is hosting the Ministerial Conference, or WTO’s apex decision-making body.
• In a communication to the WTO sent mainly at the request of China, 66 countries (including European Union members), both from the developing and the developed world, said: “We call for a dedicated minister-level meeting on investment facilitation at the (Buenos Aires) Ministerial Conference, led by a facilitator, for members to discuss this important topic.
• We also encourage all WTO members to actively participate in this dedicated session and to endorse the Draft Ministerial Decision on Investment Facilitation for Development.”
• Meanwhile, in a similar submission to the WTO, 82 nations (including the EU members) called for a dedicated Minister-level meeting on micro, small and medium enterprises (MSMEs) at the Buenos Aires meeting for all members to discuss the “important” topic.

SEBI is probing whether some individuals were allegedly leaking price-sensitive information

• SEBI is probing whether some individuals were allegedly leaking price-sensitive information, including financial data, related to blue chip companies to a select group through social media before the data was being made public officially.
• SEBI Chairman Ajay Tyagi said the regulator had received complaints about instances when such information was allegedly shared by individuals in a select group before the same was disclosed to the stock exchanges and that it is “seriously” examining the matter.
• “We are taking that [WhatsApp leaks] very seriously. How come such messages about reputed listed companies are leaked quite close to the financial results? [This] is something we are not going to sit quietly on,” the SEBI Chairman said.
• Select sharing of information by firms or even analysts is barred under the current regulatory norms.
• SEBI is also working to reduce the timeline and procedures for a public issue. “The focus is to further cut down on the time taken for listing a company on an exchange after the IPO to four days from the six days now.

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