Current Affairs For Bank, IBPS Exams - 25 December, 2015

Current Affairs for BANK, IBPS Exams

25 December 2015

:: NATIONAL ::

India and Russia deepens strategic ties

In a major boost to strategic ties, India and Russia on Thursday decided to expand cooperation across various sec- tors as they signed 16 pacts, including deals on joint manufacture of 226 military helicopters and construction of 12 atomic plants with involvement of local companies in India.
Mr. Putin conveyed Russia’s “strong support” to India’s bid for permanent membership of the UN Security Council.
The 16 agreements includedone to manufacture the Kamov 226 helicopter in India, which,is the first project for a major defence platform under the flagship ‘Make-in-India’ programme.
Progress has also beenmade on building 12 Russian reactors at two sites in India.

India’s Reliance and Russian AlmazAntey will develop air defence radar and missiles

Reliance Defence Limited and AlmazAntey, Russia’s leading developer and manufacturer of air defence missile systems, have decided to work jointly on the entire range of air defence missile and radar systems required for the Indian defence forces.
The two sides identified the air defence missile systems, including the TOR-1M missile programme, radars and auto-mated control systems, as areas of partnership under the ‘Make in India’ as well as the offset policies of the Indian Ministry of Defence.
Reliance Defence is the fastest emerging private sector enterprise that is aiming for development, manufacture and supply of defence aerospace, land and naval platforms and equipment.

Delhi government released plan for odd-even formula

Revealing the blue- print of the odd-even formula, Chief Minister Arvind Kejriwal put the onus on Delhiites to make the plan a success.
Cars of many dignitaries, two-wheelers, CNG-run vehicles, emergency vehicles, cars driven by women drivers (with no men passengers and with only children below 12 years of age) and those driven, or occupied, by differently abled persons are exempt from the rule, which is set to roll out on January 1, 2016.
As per the formula, vehicles with registration number ending with an odd number will be allowed on odd-number days and those with even numbers will be allowed on even- number ones.
Violation of the rule will invite a penalty of Rs. 2,000, which will be enforced by personnel of the Delhi Police and the Transport Department with help from 10,000 NCC and NSS volunteers, who would dissuade motorists from breaking the rule.
The plan would remain in force from January 1 to 15, between 8 a.m. and 8 p.m., except on Sundays.

Jury for Parsi community in Telangana

With Telanganasetting up a 15-member Zoroastrian jury to aid the settlement of marriage and divorce, the Parsis in the State can decide on such matters within the community.
Telangana becomes the second State after Maharashtra to set up the Zoroastrian jury.
Of the 15 members now selected from within the community just five, acceptable to both the parties, will chair the jury.
Also, the husband and wife who want a divorce will get to recommend two jury members each to suit their comfort. The fifth member of the jury will remain ‘neutral’ in the matter.
The Parsi community in the twin cities is small with just 1200-1400 members.While an average of six marriages happen each year in the community, at least one divorce takes place within a span of a year-and-a- half.

Very soon Kudankulam Unit II will be commissioned

Following the signing of 16 significant agreements between India and Russia, including on nuclear cooperation, Russian President Vladimir Putin said Unit II of the Kudankulam atomic plant in Tamil Nadu, being built by Russia, will be commissioned within weeks and negotiations are at an advanced staged for Unit III and IV.
Affirming that their cooperation in the peaceful uses of nuclear energy is a corner- stone of the Russia—India strategic partnership, the two leaders appreciated the progress made in the Kudankulam Nuclear Power Project and agreed to expedite the implementation of ongoing and upcoming projects there.
The two sides expressed commitment to realizing the target of $ 30 billion in 10 years set at the last Annual Summit, up from $ 10 billion.

:: INTERNATIONAL ::

Syria is ready to take part in talks about future in Geneva

Syria is ready to take part in peace talks in Geneva and hopes that the dialogue will help it form a national unity government, Syrian Foreign Minister said during a visit to Beijing.
The U.N. Security Council last Friday unanimously approved a resolution endorsing an international road map for a Syrian peace process, a rare show of unity among major powers on a conflict that has claimed more than a quarter of a million lives.
The U.N. plans to convene peace talks in Geneva towards the end of January.

:: India and World ::

Indian-origin doctor is Ohio’s first Poet Laureate

• A 36-year-old Indian-American doctor has been named the first Poet Laureate by the U.S. State of Ohio for showcasing a variety of styles in his poetry.
• Amit Majmudar, a diagnostic nuclear radiologist, was named to the two-year honorary position by governor John Kasich who created the honour.

:: BUSINESS and ECONOMY ::

Mines and Minerals Act amendment to come

The government plans to amend a law which is holding up mergers and acquisitions worth thousands of crore in the distressed commodities and mining sector.
The deals are stuck in a no-go zone as the Mines and Minerals (Development and Regulation) or MMDR Act of 2015, which aims to ensure transparent auctions of minerals, doesn’t allow transfer of captive mines allotted to end-user plants in the past.
The plan to amend the MMDR Act comes on the back of opinion from the law ministry that there is no alternative method to allow such acquisitions of captive mineral assets in the present law.
The transfer of mineral concessions shall be allowed only for concessions which are granted through auctionsaccording to the relevant sub-section of the MMDR Act of 2015.
Before this change, transfer of mining leases was allowed under the mineral concession rules of 1960 after getting an approval from the state government.
The clause has turned into a deal-breaker as a cement or steel plant with captive limestone or iron ore mines loses its utility without the assured mineral resources.
The limestone mines in Lafarge have over 100 million tonnes of reserves. Birla Corp may buy the plant, but would have to source limestone from elsewhere, much farther, while Lafarge will keep holding the mining lease. No deals will get done in this situation.

:: SPORTS ::

Olympian cyclist dead

Olympian cyclist Suprabhat Chakrabarty (86) passed away morning following a heart attack. He leaves behind his wife, son and daughter.
Five-time National champion Chakrabarty, fondly known as ‘Khaja’ in cycling circles, was a key member of the National squad that took part in the first edition of the Asian Games in 1951 in Delhi, 1952 Olympics in Helsinki and World Peace Race the same year.