Current Affairs for BANK, IBPS Exams 29 March 2016

Current Affairs for BANK, IBPS Exams

29 March 2016

:: NATIONAL ::

Single all emergencies number to come soon

Indian citizens in distress will soon be able to get help using a single number, ‘112’, for all emergency services in the country, including the police, fire brigade and ambulance.
At present, such callers need to dial different numbers for different emergencies like 100 for police, 101 for fire, 102 for ambulance and 108 for emergency disaster management.
The move, recommended by the Telecom Regulatory Authority of India in April 2015, was approved by the Telecom Commission.
It will be rolled out within months rather than a year.

Global energy flow has been changed by human activity says study

The impact that human beings have made on the Earth in terms of production and consumption of natural resources has formed a ‘striking new pattern’ in the planet’s global energy flow, finds a new research.
The results, published in the journal Earth’s Future , showed definite signs that human beings have permanently changed the planet and have triggered Anthropocene — an era where humans dominated Earth’s surface geology.
Patterns of human production and consumption mainly characterise the era.
Human beings have seized something like one quarter of the net primary biological production of the planet.
In addition, by digging phosphorus out of the ground and by fixing nitrogen out of the air to make fertilizers; and by exploiting hundreds of millions of years worth of stored carbon-based energy, humans are increasing productivity well above natural levels.
The findings revealed that Earth is now characterised by a geologically unprecedented pattern of global energy flow that is pervasively influenced by humans.

Haryana state Govt approves Jat quota

The Haryana Cabinet approved a Bill to provide reservation to Jats along with four other communities in government jobs and education, official sources said.
A Cabinet meeting, chaired by Chief Minister Manohar Lal Khattar gave the nod to the draft Bill on reservation to Jats and four other castes including Jat Sikhs, Rors, Bishnois and Tyagis.
The Bill, likely to be introduced in the Assembly before March 31, proposes reservation for the five communities by creating a new classification in the Backward Classes category.
Mr. Khattar told reporters that the Bill on reservation for Jats could be brought any day in the ongoing Assembly session, which would continue for three more days.
He had made it clear that the existing 27 per cent reservation for the Other Backward Classes (OBCs) in the State would not be disturbed.
The OBC community has been opposing the inclusion of Jats in their category for reservation.
The government wanted to give reservation to Jats under a new category for backward classes BC-3.
The existing BC-1 and BC-2 categories already account for 27 per cent reservation in government jobs for backward classes.
Jat organisations have been demanding 10 per cent quota in jobs and educational institutions under the OBC category.
In February, the Jat agitation for reservation had left the State paralysed for over ten days during which at least 30 people were killed, over 200 injured and property worth hundreds of crores destroyed as the agitation turned violent.

:: International ::

With opening of reconciliation village Sri Lanka to improve domestic relations

With President Maithripala Sirisena set to declare open a ‘reconciliation village’ in Vavuniya in the Northern Province, it seems the reconciliation process in Sri Lanka is picking up pace.
The government organised a trip of a group of journalists, mostly Sinhalese, working in Sinhala and English media, to the Province.
The journalists, accompanied by Minister of Mass Media Gayantha Karunathilake and Deputy Minister Karunaratha Paranawithana, visited the offices of Tamil dailies and met C.V. Wigneswaran, the Province’s Chief Minister.
A few days ago, the Navy handed back 177 acres of land in Sampur village in the Eastern Province — where they had a training centre — to its original owners.
The ‘reconciliation village’ project, however, has triggered criticism from Northern Province Councillors.

Pakistan arrested terrorist targeting Christians

Pakistan’s Army launched raids and arrested suspects after a Taliban suicide bomber targeting Christians over Easter killed 72 people including many children in a park crowded with families.
The Army announced it had carried out raids in Lahore as well as in Faisalabad and Multan, two other major cities in Punjab province. More were planned.
Hundreds were injured on Sunday when explosives packed with ball bearings ripped through the crowds near a children’s play area in the park in the eastern city of Lahore, where many had gathered to celebrate Easter.

:: INDIA and WORLD ::

PM to push for global initiative against nuclear terrorism

India will push for a global initiative against nuclear terrorism at the fourth Nuclear Security Summit (NSS 2016) in Washington this weekend.
To safeguard the world from nuclear terrorism, India will ask for institutional follow-up through institutions like the International Atomic Energy Agency (IAEA), the United Nations, Interpol, and the Global Initiative to Combat Nuclear Terrorism (GICNT).
India has often called for measures against Pakistan for proliferation of nuclear materials, especially during the tenure of its former nuclear programme chief A.Q. Khan.
The Indian delegation at the summit, led by Prime Minister Narendra Modi, will also circulate a national plan and progress report covering the measures taken by India to prevent nuclear terrorism on the Indian soil. “
Mr. Modi will land in Washington after a daylong stopover in Brussels, where he will attend the 13th EU-India Summit and is expected to announce the restart of free trade negotiations which have been suspended for the past four years.
At meetings with Belgian Prime Minister Charles Michel, Mr. Modi is expected to discuss cooperation against terror in the aftermath of the terror attacks in Brussels last week.
He will also address a reception for Indian nationals based there.
At the last leg of the three-nation tour, Mr. Modi’s trip to Saudi Arabia will focus on the safety and well being of Indian citizens in Saudi Arabia and the GCC region and on an uninterrupted supply of energy from the GCC region to India.

:: Business and Economy ::

Virtual Network Operators to start working in India

The Telecom Commission on Monday accepted the telecom regulator’s recommendation to permit Virtual Network Operators (VNOs) in the country.
VNOs do not own telecom infrastructure but can offer various services to users by entering into an agreement with existing service providers.
It will need the Telecom Minister’s approval.

Reduction in small savings rate does not give relief to short-term money market rates

The reduction in the small savings rate has failed to provide any relief to short-term money market rates as banks rush to meet their business targets for the financial year end.
As a result, the rates have increased by 25 to 35 basis points in March.
On Monday, the overnight rate climbed as high as 8.3 per cent, intraday, before easing to 6 per cent at the close.
There was advance tax outflow in the middle of the month. During quarter-end, banks also try to get more business to increase their balance sheet.
Mutual funds also face redemption pressure during this period. In addition, the government goes slow on spending.
According to bankers, the shortfall in liquidity in the system is estimated at more than Rs 2 lakh crore.
According to dealers, the rate on three-month certificates of deposit, which were issued at 7.9 per cent at the start of the month, has moved up to the 8.20-8.25 per cent range.
Short term rates typically rise at the end of a quarter as banks push to grow their balance sheet. Bankers said the liquidity scenario will improve once the new financial year starts.

Crisil report says subsidy to further reduce next year

The next financial year will see the government’s subsidy bill shrink by about Rs.10,000 crore thanks to the cut in nutrient-based subsidy rates and the lower price of gas, the key feedstock in urea production, according to Crisil.
“The reduction in nutrient-based subsidy (NBS) rates announced last week could trim the government’s subsidy bill for phosphatic fertilisers by Rs. 5,000 crore next fiscal,” Crisil said in a report.
The cut, which follows declining international prices of di-ammonium phosphate and ammonia, would influence the contracted price for phosphoric acid, the key raw material, for fiscal 2017.
The Cabinet Committee on Economic Affairs, on March 23, announced that the subsidy rates for nitrogen and phosphatic nutrients would be cut by Rs.5 a kg and Rs.5.4 a kg, respectively, amounting to a 25-30 per cent reduction.
The subsidy rate for potassic nutrients was kept largely unchanged.
The current price of gas in India, which is set to be reviewed in April, is $3.82 per million British thermal units (mBtu). The consensus view is that the April review will see a further decline in gas prices.
The reduction in the subsidy bill could help the government narrow its fertiliser subsidy arrears of about Rs.35,000 crore, which have been carried forward since 2012, Mr. Sural added.
The fertiliser subsidy has been estimated at Rs.70,000 crore for 2016-17, lower than the Rs.72,437.58 crore estimated for the ongoing financial year.
Crisil finds that the poor monsoon over the last two years has created a vicious cycle in the fertiliser sector. Two consecutive years of deficient monsoon have burdened the fertiliser industry with excess inventory, estimated at around 5 million tonnes.

:: SPORTS ::

India beats Australia to reach semifinals

Kohli’s extraordinary batsmanship, which produced an unbeaten 51-ball 82, carried India to a memorable six-wicket win over Australia and earned the host a place in the World T20 semifinals.
The class of Kohli’s knock, which came amidst extremely difficult circumstances and in a do-or-die match, reminded one of Sachin Tendulkar’s unforgettable assault on the Australian attack in the summer of 1998 in Sharjah.
India staged a tremendous fightback to restrict Australia to 160 for six even though the Aussies were off to a flying start thanks to the pyrotechnics of its combative openers.
India’s resilience was put through another tough test when Australia relied on an astounding onslaught from its openers Usman Khawaja and Aaron Finch to amass 50 runs in less than four overs.
Finch stunned the Indians by hitting Nehra on the off-side and hoisting Ashwin over long on for two successive sixes.