Current Affairs For Bank, IBPS Exams - 15 September, 2015

Current Affairs for BANK, IBPS Exams

15 September 2015

:: National ::

In the eye,s of World Bank Gujarat is the best state for ease of business

Gujarat, the state Prime Minister Narendra Modi ran for more than a decade, is India's best place for conducting business, the World Bank said on Monday, in a report that ranks the country's states in an effort to encourage them to cut red tape.
The report, prepared with support from KPMG on the request of the Modi government, gains importance by coming before the World Bank's annual Doing Business report, which ranks nations and is expected to be released next month.
Since taking charge in May 2014, Modi has set an ambitious target of improving by 2017 India's national ranking from a woeful 142 of 189, below Pakistan and Iran, to the top 50.
Last year, India slipped two spots in the report, and was ranked lower than Brazil, Russia, China and South Africa - mainly because of delays in approvals for starting a business, tax payments, getting bank loans and property registration.
Monday's report suggested that such steps as offering single-window clearances for administrative approvals, if followed by all states, could improve India's global ranking.
It said that states -- including the top five, Gujarat, Andhra Pradesh, Jharkhand, Chhattisgarh and Madhya Pradesh -- had implemented reforms in online tax payments, construction, permits, electricity connections and environmental clearances in a specified time.

:: Business ::

Current Account Deficit to Remain Comfortable in FY16: India Ratings

India's current account deficit is expected to remain "comfortable" in the current fiscal year even as it rose sequentially to $6.2 billion in the first quarter, says a report.
Current account deficit for the first quarter of FY16 stood at $6.2 billion (1.2 per cent of GDP), sequentially higher than $1.5 billion in the previous quarter, the report by India Ratings & Research said on Monday.
The current account deficit, however, was lower than $7.9 billion the first quarter of FY15.
Current account deficit reflects a high outgo of forex and subsequently weakens the domestic currency.
Invisible receipts were mainly instrumental in improvement of current account deficit in the first quarter of current fiscal year, it said.
India Ratings said merchandise exports contracted for the third consecutive quarter and a worrying trend is that the magnitude of the contraction has been increasing with each quarter.
On oil, it said crude oil prices are likely to remain soft for remaining part of 2015-16 due to the sluggish global recovery and demand-supply situation in the crude oil market.

:: India & world ::

India's bid for permanent Security Council seat gets a boost as UN adopts negotiations on reforms

The UN General Assembly on Monday adopted a negotiating text by consensus for the long-pending Security Council reforms, setting the stage for talks on the issue at its 70th session beginning Tuesday, boosting India's bid for a permanent seat in the revamped world body.
India termed as "historic" and "path-breaking" the adoption of the document, saying the decision puts the Inter-Governmental Process formally on an "irreversible text-based negotiations path" and changes the "dynamics" of the negotiations on achieving UNSC reforms.
UN General Assembly President Sam Kutesa convened a plenary meeting to take action on the draft decision on the "Question of equitable representation on and increase in the membership of the Security Council and related matters".
During the meeting, he also circulated letters containing the positions of key countries, including Russia, the US and China which refused to contribute to the negotiating text.ers
There was no voting on the decision to continue text-based UNSC reforms in the 70th session of the General Assembly and it was adopted by consensus.
The draft decision contains a negotiating text which has positions of UN member states on Security Council reforms and how the powerful 15-nation body should be expanded in its permanent and non-permanent categories.
The adoption is a significant step towards beginning talks on the long-stalled reforms process in the 70th session of the Assembly on the basis of a negotiating text, a first in the last seven years of Inter-Governmental Negotiations that have been conducted so far without the basis of any text.
India's Ambassador to the UN Asoke Mukerji said the "most important aspect" of Monday's decision is the text circulated by Kutesa in July which "we have agreed will be the guiding basis for our deliberations in the 70th General Assembly session".

:: Sports ::

Rule changed in HIL to encourage more field goals

Hockey India's decision to award two goals for each field goal scored during the fourth edition of the Hockey India League (HIL) has been hailed by legends of the game as well as experts who feel the move will make the game more attractive for the fans.
HI said on Monday that two goal points will be awarded for every field goal to encourage "more skilful and tactical" hockey while making matches more "intense and competitive". It was one of the few rule changes made in the league for the up coming edition.
There's no change in rule for goal scored from penalty corners.
The coach of the HIL defending champions Ranchi Rays, Harendra Singh, felt the move has the potential to change the game in future.
"With strikers given more power, the mobility of the defender and agility of the goalkeeper will be tested. This is a good move considering that it's in the interest of the spectator. This should be used at the international level too.
For every field goal and penalty stroke goal scored in a match other than resulting from a penalty corner: 2 goals