Current Affairs for BANK, IBPS Exams

29 April 2016

:: NATIONAL ::

Union govt started the process of deportation of Vilay Mallya

• India has asked the United Kingdom to deport Vijay Mallya, the owner of the now-grounded Kingfisher Airlines, wanted for money laundering and financial mismanagement.

• The MEA has written to the High Commission of the United Kingdom in Delhi requesting deportation of Shri Vijay Mallya from the United Kingdom.

• The High Commission of India (in UK) will also issue a similar note verbale on the case. We shall pursue the matter with the United Kingdom.

• The MEA cancelled Mr Mallya’s passport last week after the Enforcement Directorate (ED) asked the ministry to initiate steps to bring back the businessman Mr Mallya who owes more than $1 billion to banks and creditors in India.

• Mr Mallya who flew out in the first week of March has not returned since even as law enforcement authorities and banks have been demanding for his return.

• Soon after the cancellation of Mr Mallya’s passport, news agencies had reported that his name has appeared on the electoral rolls of the United Kingdom.

• However, officials pointed out, that appearance of his name on the roll does not necessarily mean that Mr Mallya has stealthily acquired British citizenship.

Govt is looking to make driving licence and vehicle registration process online

• Visits to regional transport offices (RTOs) for driving licence and vehicle registration could soon be a thing of the past, as the government is looking to move the process online.

• For instance, an online theory test will be conducted for procuring a learner’s licence. The government may also digitise renewal applications for driving licences and requests for change of address and other details.

• The driving school principals can help educate candidates on road safety norms and the learners’ licence test could be taken online and printed as well.

• The government is simultaneously pursuing steeper penalties for traffic violations, particularly those related to drunken driving, juveniles on the wheel, over-speeding and not wearing helmets or seat belts.Moreover, registration of both commercial and private vehicles may soon be possible at the dealer’s point. The government will issue standardised norms for number plates across the country.

• Under the proposed system, the automobile dealer will have access to Vahan, a centralised database of the Transport department. The dealer will help complete the formalities to obtain number plates for vehicles.

• The government will also do away with dress code for commercial drivers and allow third-party accidental insurance cover for public transport drivers of buses, autos and taxis.

Narendra Modi may address a joint meeting of Congress when he visits the U.S

• U.S. House Speaker Paul Ryan invited Prime Minister Narendra Modi to address a joint meeting of Congress when he visits the U.S capital in June.

• India has not announced the Prime Minister’s visit yet, but Foreign Secretary S. Jaishankar is in Washington to finalise the agenda of the visit that is reportedly at the behest of President Barack Obama.

• Making an announcement at his weekly press conference, Mr. Ryan said Mr Modi’s address could be likely on June 8. This will be the first joint meeting of the Congress during his speakership.

• “The friendship between the United States and India is a pillar of stability in an important region of the world,” Mr. Ryan said.

• Mr. Modi will be the fifth Prime Minister of India to address a joint meeting of the Congress, and the first since 2005.

:: International ::

President brushed aside India-China rivalry in Pacific

• The first ever state visit by an Indian head of state to Papua New Guinea began with remarks by President Pranab Mukherjee that brushed aside a suggestion that India was in competition with China in the Pacific region.

• He also voiced the hope that his visit will be a precursor to intensified economic and security cooperation with the Pacific island nation.

• He also said India was ready to cooperate with Pacific Island countries in protecting their Exclusive Economic Zones.

• Although building trade relations was high on the agenda, the larger message was that India is eager to deepen its engagement with all Pacific Island countries.

• In a speech Mr. Mukherjee made a pointed reference to Papua New Guinea’s natural resources and said there were many opportunities waiting to be seized as both countries had prioritised sustainable use of ocean and marine resources.

• He also underscored that the untapped potential of India’s ties with Pacific nations was not limited to Papua New Guiena.

• Referring to FIPIC, the Forum for the India-Pacific Islands Cooperation, a multilateral forum launched by Prime Minister Narendra Modi, Mr. Mukherjee said it indicated that “India intends to seriously engage with this entire region."

• In the forum’s second summit in Jaipur August 2015, one subject discussed was enhanced cooperation between India and Pacific island countries, especially in coastal surveillance and protection of exclusive economic zones.

• India and Papua New Guinea are due to sign an MoU on cooperation in health and pharmaceuticals.

• Under the agreement, doctors and nurses from the island nation will be trained in India, and Indian physicians, nurses and trainers would be deputed to Papua New Guinea.

• India will also pledge support to establish a pharmaceutical production unit here to meet the demand for life-saving medicines.

China asserted that it will play leading role in maintaining peace in Asia

• China asserted that it will not allow the breakout of a conflict on the Korean Peninsula and signalled its readiness to play a leading role in maintaining peace in Asia, a position that could increase friction between Beijing and Washington.

• Tensions on the Korean Peninsula have spiked after North Korea conducted its fourth nuclear test in January, followed by tests of missiles that could carry atomic warheads.

• In a signal to the U.S., President Xi also emphasised that there was no room for outside powers, or internationalisation, for resolving differences among Asian countries, which have rival territorial claims in the South China Sea.

• Some analysts say Mr. Xi’s comments signal China’s rejection of U.S. interference, including “freedom of navigation” naval patrols in the South China Sea.

• The President’s insistence on direct talks with other claimants—chiefly Vietnam, the Philippines and Taiwan—is also meant to reinforce China’s rejection of international arbitration to resolve the South China Sea disputes, they say.

• The Chinese side has repeatedly slammed Manila’s decision to petition the Permanent Court of Arbitration in The Hague to settle its maritime claims with Beijing.

• Russia has also backed China’s approach. Following a meeting with his Chinese counterpart Wang Yi, Russian Foreign Minister Sergey Lavrov stressed that Moscow opposed any interference from third parties, “or any attempts to internationalise these disputes”.

• It added China is working with other CICA members to formulate an action plan for the next two years to implement confidence-building measures.

• In tune with the rising tensions with Washington in the South China Sea, China has sought to bolster its nuclear deterrence by successfully testing the DF-41 long-range ballistic missile.

• The weapon would apparently take only 30 minutes to cover its maximum 12,000-km range, and deliver multiple strikes on its target.

• The test coincided with the inspection of an artificial island in the Spratly group of islands by Gen. Fan Changlong, a top-ranking officer of the People’s Liberation Army.

• The Chinese have also announced this month the landing of a military aircraft on an artificial island in the Spratly islands on a 3,000 meter runway, which could be used by heavy bombers and fighter jets.

U.S. lawmakers expressed concerns over the sale of F-16 fighter jets to Pakistan

• Top U.S. lawmakers have expressed concerns over the Obama Administration’s decision to sell eight F-16 fighter jets to Pakistan, saying the aircraft could be used against India and not to combat terrorism.

• They have also urged the Obama Administration to review its decision in this regard.

• “Indo-Pak. tensions remain elevated and some question whether the F-16s could ultimately be used against India or other regional powers, rather than the terrorists as Pakistan as asserted,” Congressman Matt Salmon said.

:: India and World ::

Unfazed by China placing a technical hold India is ready with other cases

• Unfazed by China placing a “technical hold” on classifying Jaish-e-Mohammad founder Masood Azhar as a terrorist by the sanctions committee of the United Nations, India is ready with cases of other JeM individuals.

• India believes that China, by siding with ally Pakistan, is turning a multilateral issue into a bilateral one given that the JeM is known to have interests beyond South Asia and was listed as a terrorist group by the U.N. in 2001.

• “The Chinese don’t look good by siding with the Pakistanis on the issue. After all, we are talking about designating individuals. It is not a government-to-government issue at all.

• Also, the Indian action to designate Azhar as a terrorist was co-sponsored by the United States, the United Kingdom and France, revealing that Delhi was not alone in its efforts.

• A “technical hold” on designating Azhar was placed by the Chinese earlier this month.

• Simultaneously, India is engaging China on Azhar by talking to Pakistan at the just-concluded Foreign Secretary-level interaction in Delhi. China had publicly suggested that India hold direct talks with Pakistan on the issue.

• A “technical hold” in the 15-member sanctions committee remains valid for six months following which a decision to block or proceed with the proposed action must be conveyed to the secretariat.

:: Science and Technology ::

Smarac Citizen to grant Architects construction permits within a few minutes

• Architects and real estate developers who plan to construct buildings close to national monuments can soon download a new mobile app named Smarac Citizen, which will grant them construction permits within a few minutes.

• Based on a proposal from the National Monuments Authority (NMA), the app has been developed by the Indian Space Research Organisation (ISRO), containing the maps of 3,686 Centrally-protected monuments across the country.

• Earlier, the NMA had to send teams to the areas close to historic monuments, where developers sought construction permits.

• The teams had to ensure that permits were granted only to projects beyond 300 metres from the outer boundary of a monument.

• Apart from easing the process of obtaining construction permits, the app will help the NMA keep a tab on encroachments around monuments.

• “The app will tell you how far new constructions are from any particular protected monument. The app will help decide the height of the buildings according to the air rules set by the Airports Authority.

India finishes set-up for India's own navigational system

• India’s own navigational system, completed with the launch of the seventh and final satellite, will be called NAVIC (Navigation with Indian Constellation), Prime Minister Narendra Modi announced after the launch.

• The seventh and final satellite of the Indian Regional Navigation Satellite System, the IRNSS 1G, was launched into a sub geosynchronous transfer orbit with a perigree (nearest point to earth) of 284 km and an apogee (farthest point to earth) of 20,657 km.

• With this launch, the IRNSS constellation of seven satellites is now complete.

• This will allow the Indian Space Research Organisation (ISRO) to focus on the process of designing front end chips which will receive the navigational signals sent out by the satellites.

• The system will be similar to the Global Positioning System (GPS) operated by the United States with 24 satellites and the Glonass, Galileo and BeiDou systems of Russia, Europe and China respectively.

• All satellites will undergo stabilisation testing and verification of their performance over the next few months before being pushed into use.

• An area of 1,500 km from Indian boundaries will be covered under the navigational system.

• The Prime Minister invited other countries to make use of this system as well. “We have seven neighbours who rely on technology provided by other countries. They can use Indian services if they want,” he said in a video message addressed to ISRO engineers.

• With an accuracy of better than 20 m being claimed by ISRO, the navigation system will be offered as an open or Standard Positioning Service and a superior, coded military Restricted Service.

• Explaining the name NAVIC, Mr. Modi said the system was dedicated to India’s mariners and fishermen who have been navigating using the sun and stars as waypoints for hundreds of years.

• “They have shown strength and determination in venturing out to sea for so many years. We have named this system for them, the ‘naviks’ (mariners),” he said.

:: Business and Economy ::

The cost of 238 major projects have almost doubled to Rs. 4.6 lakh crore

• The cost of 238 major projects of the union government have almost doubled from the original estimate of Rs.2.4 lakh crore to Rs. 4.6 lakh crore, according to latest official data.

• The number of projects exceeding the budget surged 43 per cent by March 2016 over a period of four years, the data on projects costing Rs.150 crore or more showed.

• “The causes for time and cost overruns are project-specific, depend on a variety of technical, financial and administrative reasons, and differ from project to project,” V.K. Singh informed the Lok Sabha.

• The number of Central projects that have overshot their deadline for completion increased by 31 per cent,from 260 as on April 1, 2012 to 341 as on March 1, 2016.

• The data showed while 166 central projects had overshot their budget as on April 1, 2012, it increased to 238 as on March 1, 2016.

• However, while the absolute number of projects which overshot their targets had increased over time, their proportion in the total number of projects had declined, showing an improvement in this regard.

• While projects exceeding their budgets made up 30 per cent of total projects above Rs.150 crore as on April 1, 2012, that proportion fell to 22 per cent by March 1, 2016.

• Most cost and time-overruns pertained to the infrastructure sector with the Railways contributing 68.5 per cent of projects overshooting the budget as on March 1, 2016, up from 56 per cent four years ago.

• The power sector contributed the next-highest with 9.4 per cent as on March 1, 2016, down marginally from the 10.5 per cent as on April 1, 2012.

• The road sector contributed 7.7 per cent of projects facing cost-overruns as on March 1, 2016. As many as 39 per cent of the projects were running behind schedule compared with 32 per cent four years ago.

• At the end of the 11th Plan period, the projects overshooting their budgets needed an extra Rs.1.2 lakh crore which rose to Rs.2.2 lakh crore by March 1, 2016.

India’s employment growth is beginning to show signs of a slowdown

• India’s employment growth is beginning to show signs of a slowdown even as official data showed a pick up in GDP growth, according to a study by Care Ratings.

• Jobs growth slowed to near-zero during 2014-15 in a sample of 1,072 companies. These companies created only 12,760 jobs in 2014-15. In the previous year, they had added 188,371 jobs.

• Employment growth in the sample slowed to 0.3%, the slowest in four years, an analysis of the annual reports of the companies surveyed in the sample by the ratings agency showed.

• The number of jobs in manufacturing sector companies in the sample, despite the government’s ‘Make In India’ push, declined. Employment growth in the manufacturing companies plunged to (-) 5.2% in 2014-15 from 3.2% in 2013-14.

• Manufacturing accounted for more than 40 per cent of the jobs, the highest share in employment, followed by banking (23.0 per cent) and IT (18.4 per cent).

• The study on trends in employment in the last four years is based on employment numbers provided by companies in their balance sheets. It does not include the impact of outsourcing.

• One reason the study gives for job creation not showing on the books of companies is the possibility of more jobs getting outsourced—in which case it would be accounted for elsewhere in the suppliers’ registers.

• Jobs that were performed by employees such as security, administrative functions and back office, are increasingly being outsourced in many companies.

• However, the findings of the latest quarterly survey by the Labour Bureau in the Ministry of Labour and Employment do not support this argument.

• The survey released last month shows a decline of 21,000 in contractual jobs during January-September 2015, against an increase of 1.20 lakh in the corresponding period of 2014.

:: Sports ::

The Boxing Federation of India will have current and former players

• In a first for boxing administration in India, the proposed new federation will have representation from current and former pugilists by including them in the Executive Committee after elections.

• The Boxing Federation of India (BFI) is expected to take shape, under guidelines by the International Boxing Association (AIBA), failing which the country’s boxers might be barred from this August’s Olympic Games to be held in Rio de Janeiro.

• Four boxers — two men and two women — will now be duly elected in BFI’s Executive Committee independently.

• The former boxers — one male and one female — in the committee will be picked through elections after registering all the retired pugilists via an athletes commission.

• The active members will be elected during the National Championships that will be held after BFI takes charge.

• The process to have the new federation in place by May 14 is picking up pace with the Sports Ministry deciding to give its No Objection Certificate (NOC) for BFI’s registration.

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