Current Affairs for BANK, IBPS Exams 31 May 2017

::National::

India and Germany signed dozen MOUs

India and Germany agreed on the need to resume free trade talks between India and the European Union soon.
Countries also signed a dozen wide-ranging but low-profile MoUs on the subjects of education, health, skill development and sustainability.
MEA officials said Indian and EU negotiators would meet in July this year and then in October for the EU-India summit in Delhi, in an effort to “take FTA talks forward.”
FTA talks had stalled after 16 rounds of negotiations in 2013. Since then bilateral investment treaties with Germany and other European countries have also lapsed.
German CEOs, who met with Mr. Modi, said this had caused much “uncertainty” in the business relationship, as they were particularly worried about investor protection.
The Prime Minister, who spent several hours speaking to Chancellor Merkel, was accorded a ceremonial guard of honour at the German Chancery in Berlin.
The two sides announced agreements on cyber policy, railway safety, and the training of Indian Skill Development Officers and Cluster Managers.

Law Commission sought views on whether gambling and betting be legalised

The Law Commission sought views from the public and stakeholders on whether or not gambling and betting are “morally correct in the Indian circumstances”.
Primarily, it wants public inputs on the question of legalising gambling and betting — conducted clandestinely across the country and the cause of ruin for many families.
Views would be compiled for a report to be handed over to the government. The question came up after the Supreme Court asked the commission to study the possibility of legalising betting in the backdrop of the IPL betting scandal.
The various questions the commission wants to generate opinion on include whether legalising betting and gambling will help in curbing illegal activities; will licensing gambling and betting help the government earn substantial revenue and generate employment.
Commission also seek opinion on whether legalising betting and gambling morally correct in the Indian circumstances; what can be a possible model by which people engaging in such activities can be safeguarded against bankruptcy.
The law on gambling is a grey area and a topic of debate for years.
Gambling is covered under an archaic law, the Public Gambling Act of 1867. The Constitution has enabled the States to enact their own gambling legislation.
However, there is no uniformity in the various State laws and most of these laws pertain to physical gambling and not online or virtual gambling, which is seen to be a route to crime, corruption and money laundering.
Section 67 of the Information Technology Act of 2000 vaguely prohibits online transmission and publication of material which “corrupt” persons.
The Commission noted that both gambling and betting are closely associated. The Commission has found that the strict rules against betting and gambling are hardly a deterrent against clandestine activities.
The legality of various activities which involve betting like horse races and card games have come up before the Supreme Court.
In K.R. Lakshmanan vs State of Tamil Nadu case, the court concluded that horse racing was a game of skill rather than chance.

UAE is in favour of India’s proposal for a unified bilateral air traffic pact

The United Arab Emirates (UAE) is in favour of India’s proposal for a unified bilateral air traffic pact provided the Gulf nation gets access to more Indian airports.
Officials on both sides would soon hold a meeting to discuss the proposal to sign a single bilateral air traffic agreement.
India has signed separate agreements with emirates of the UAE which is a unique arrangement as bilateral air traffic rights are generally signed between two countries.
Minister of State for Civil Aviation Jayant Sinha told in an interview recently that India is contemplating a single air traffic pact with UAE to align with global practice.
As per the global practice, countries sign air service agreement bilaterally which decides the equal number of flights or seats per week that can fly into each other’s country depending upon their own requirements.

World’s cities may turn as much as 8 degrees Celsius warmer by 2100

Under a dual onslaught of global warming and localised, urban heating, some of the world’s cities may turn as much as 8 degrees Celsius warmer by 2100, researchers have warned.
Such a temperature spike can have dire consequences for the health of city-dwellers, robbing companies and industries of able workers, and putting pressure on already strained natural resources such as water.
The projection is based on the worst-case-scenario assumption that emissions of planet-warming greenhouse gases continue to rise throughout the 21st century.
For the latest study, researchers used data from the world’s 1,692 largest cities for the period 1950 to 2015.
The top quarter of most populated cities, in this scenario, could see the mercury rise 7 degrees Celsius or more by century’s end, said a study in the journal Nature Climate Change .
For some cities, nearly 5 degrees Celsius of the total would be attributed to average global warming.

::International::

Donald Trump ratcheted up tensions with Germany

United States President Donald Trump ratcheted up tensions with Germany with a fresh tweet, blaming the key ally for not spending enough on defence and for America’s trade deficit.
“We have a MASSIVE trade deficit with Germany, plus they pay FAR LESS than they should on NATO & military,” Mr. Trump wrote on Twitter.
“This will change,” he added, amid a raging debate in the U.S on the President’s first official tour of Europe last week, which many critics say has undermined key partnerships.
German Chancellor Angela Merkel and her cabinet colleagues have been critical of Mr. Trump in recent days, after he refused to reiterate the principle of collective security that binds the NATO partners.
Mr. Trump also indicated that the U.S under him may withdraw from the Paris climate agreement. Ms. Merkel said “days when Europe could completely count on others are over to a certain extent.”

::Business and Economy::

Indian banks’ stressed assets are likely to increase to 15% of total loans

Indian banks’ stressed assets are likely to increase to 15% of total loans by March 2018 even as their regulatory capital requirements will continue to rise till 2019, S&P Global Ratings said.
Indian banks’ credit profiles are unlikely to improve over the next 12 months, said S&P Global Ratings in a report titled ‘No Quick Cure for India’s Banking Blues’.
The banking sector’s total stressed assets will increase to 13-15% of the total by the end of March 2018 with PSU banks accounting for most of those loans.
Besides, loan growth was among the lowest in a decade. India’s public sector banks will have to continue to rely on external capital infusion to meet the Basel III capital requirements, or sell off their non-core assets or investments.
The government has promised to infuse Rs. 70,000 crore into its PSU banks over 2016-2019 with Rs. 10,000 crore allocated for fiscals 2018 and 2019 each.
It said capital shortfall and asset quality problems could pave the way for consolidation among the government-owned banks.

TRAI is likely to come out with regulations on tariff assessment

The Telecom Regulatory Authority of India (TRAI) is likely to come out with regulations on tariff assessment, which deals with issues such as promotional offers and predatory pricing, within a month.
“We will analyse the views received at the open house as well as the written comments, and finalise our views in the next 30 days,” TRAI Chairman R.S. Sharma said.
Mr. Sharma added that the regulator’s view may come as an order or a regulation.