Current Affairs For Bank, IBPS Exams - 06 February 2016

Current Affairs for BANK, IBPS Exams

06 February 2016

:: NATIONAL ::

UN panel ruled Julian assange’s forced stay in embassy as arbitrary detention

A United Nations panel ruled that WikiLeaks founder Julian Assange’s three-and-a-half year forced-stay in the Ecuadorean embassy in London is a case of “arbitrary detention” and a “deprivation of liberty” and that he should be allowed to walk free.
In the light of their investigation and findings, the widely respected UN Working Group on Arbitrary Detention, considered the highest international legal authority on detention, called upon the governments of Britain and Sweden to “assess the situation of Mr. Assange, to ensure his safety and physical integrity.”
Also “To facilitate the exercise of his right to freedom of movement in an expedient manner, and to ensure the full enjoyment of his rights guaranteed by the international norms on detention.”
Mr. Assange, who faces ex- tradition to Sweden over a rape charge, which he denies, claimed asylum in London’s Ecuadorean embassy in 2012.
But Britain and Sweden said they would continue to seek the arrest and extradi- tion of Mr. Assange.
Both governments adhere to the view, that in this case, domestic law takes precedence over international law.

First case to be decided under new Juvenile law

A decision will soon be taken by the Juvenile Justice Board (JJB) on whether a 17 year-old boy, who is accused of committing two murders in Delhi in five months, will be tried as a juvenile or as an adult.
As per the Juvenile Justice Act 2015, the boy could be tried as an adult if the board assesses him mentally and physically capable of committing the heinous offences and as having the ability to understand their consequences.
The boy, who will turn 18next month, was first apprehended last September on charge of kidnapping a 13- year-old boy for ransom and killing him later.
He was released on bail in November, but the same boy allegedly robbed and killed a 65-year-old woman in Delhi’s Lodhi Colony lastSaturday.
If he ends up being tried as an adult, his will be among the first such major case in Delhi after the much-debated law was passed in December and approved by the President on the last day of 2015.

Basmati rice all set to get Geographical Indication tag

The Intellectual Property Appellate Board (IPAB) ordered issue of the ‘Geographical Indication’ tag for basmati rice grown in the Indo-Gangetic Plains on the foothills of the Himalayas.
The order comes seven years after the application was made.
The application has been mired in litigation after farmers and exporters and Madhya Pradesh wanted to be included in the list of States approved by the Agricultural and Processed Food Products Export Development Authority (APEDA), the statutory body responsible for export promotion and development of certain scheduled products.
In 2014-15, India exported 37 lakh MT of Basmati Rice to the world worth Rs. 27,597.87 crore and is the world’s leading exporter of the rice, according to APEDA.
India exports a major quantity of basmati rice to Saudi Arabia, Iran, United Arab Emirates, Iraq and Kuwait.

:: India and World ::

U.S. President assured Narendra Modi to Lok into visa issues

U.S. President Barack Obama has assured Prime Minister Narendra Modi that his administration would soon look into India’s concerns over the recent move to increase visa fees.
The Act, among other things, increased the fees for certain H1B and L1 applicants.
After the increase, the fees for certain categories of H1B and L1 visas have more than doubled.
According to Nasscom, the IT/ITeS industry body, the decision’s financial impact on the Indian technology sector would be around $400 million a year.
India (Indian tech firms) will be the most affected by the decision as it is the largest user of H1B visas (67.4 per cent of the total 161,369 visas issued in FY14 went to Indians), and is also among the largest users of L1 visas (Indians received 28.2 per cent of the 71,513 L1 visas issued in FY14).
The CII, an industry body, had said the visa fee in- crease was discriminatory and punitive and was aimed at India and Indian-centric technology companies.
Issues related to tightening of the visa and immigration regime and the fear-monger- ing about American jobs going to foreigners have been part of the political rhetoric before presidential elections in the U.S.

Indian trucks cross freely into Nepal

Residents and traders in southern Nepal dismantled tents and roadblocks set up by protesters at a key border crossing, allowing trucks to cross freely from India for the first time in four months.
More than 50 people have died in an agitation against Nepal's first republican constitution led by minority Madhesis, who say the charter ignores their demands for a united homeland and greater say in the running of the Himalayan nation.
A prolonged blockade mounted by southern lowlanders on the “Friendship Bridge” linking the Nepali town of Birgunj with Raxaul in Bihar had caused acute fuel shortages and spurred smuggling along the porous border.
People in Birgunj madhesis and Raxaul had cleared tents pitched on the bridge by protesters from the Madhesi minority.
Nepali Prime Minister K.P. Oli has appeared increasingly isolated by the protests and faced criticism from India over the tough line taken by the authorities against them . The lifting of the blockade may signal the stand-of is easing.

:: INTERNATIONAL ::

United Nations urged countries hit by Zika virus to let women have access to abortion

The United Nations urged countries hit by the dangerous Zika virus to let women have access to contraception and abortion.
The UN human rights office said the South American countries now urging women to hold of getting pregnant over Zika fears had to ofer them the possibility of controlling their fertility.
An exploding number of cases of Zika virus – believed to cause a condition called microcephaly in which babies are born with abnormally small heads – have prompted several countries and territories in Latin America to warn women to avoid getting pregnant.
But UN human rights chief UN rights chief Zeid Ra’ad al-Hussein said this warning meant little in countries that ban or heavily restrict access to reproductive health services like contraception and abortion.

:: BUSINESS and ECONOMY ::

FM says India has potential to grow at faster pace

Finance Minister Arun Jaitley said India remained one of the fastest- growing economies in the world despite the global economy remaining uncertain.There was still potential for India to grow at a faster pace, he added.
“All the major economic organisations, including IMF, have predicted low growth for the world economy in the coming year,” Mr. Jaitley said.
“These developments have implications on India’s economy as our ex- ports are also affected.
How- ever, the silver lining is low international commodity and oil prices which, in turn, have helped in a better macroeconomic situation in the country,” he said
Regarding the fiscal deficit, Mr. Jaitley said that the government was on track to meet the 3.9 per cent of GDP target set for the financial year.
“This was the first time thatthe real expenditure amount was higher than the budget proposal. This year we have spent more but still we will very well manage our deficit targets.
During 2016-17, the government had to make provision for around Rs. 1.10 lakh crore to meet the liabilities on account of implementation of Seventh PayCommission recommendations and One Rank One Pen- sion (OROP) Scheme.
One major suggestion by the Committee regarding taxation was to raise the tax ex- emption limit for middle and salaried class from Rs.2.5 lakh to Rs. 4 lakh.
In addition, greater emphasis is to be laid on widening the tax base and punishing tax evaders.
The Committee also suggested that the threshold limit for mandatory PAN card requirement for transaction be raised to Rs.5 lakh and above from the current limit of Rs.2 lakh and above.
Further, it was suggested that the service tax exemption limit be raised from Rs.10 lakh to Rs.25 lakh.
Other important suggestions made by the Committee included more allocations for agriculture sector and the set- ting-up of an Indian Council for Veterinary Research (ICVR) to boost to milk production.
Another suggestion was to bring in more clarity to and awareness about the government’s new crop insurance schemes.

D. J. Pandian named as Chief Investment officer of Asian Infrastructure Investment Bank

D. J. Pandian, a former bureaucrat known for holding a string of key positions with the Government of Gujarat, has been appointed as one of the five Vice-Presidents of the newly-established Asian Infrastructure Investment Bank (AIIB).
Dr. Pandian has been appointed as the Chief Investment officer (CIO) of the lender, whose role is to focus on infrastructure development in Asia.
The CIO would be “leading the planning and supervision of the bank’s in- frastructure investment,”.

:: SPORTS ::

IPL 2016 auction will happen today

The latest auction will witness 351 players going under the hammer and that includes 230 Indian and 121 overseas players.
With a majority of the teams having retained their core players, attention will be riveted on the strategy adopted by the two new entrants — Rising Pune Supergiants and Gujarat Lions — as they try to beef up their respective units led by M.S. Dhoni and Suresh Raina respectively.
Including the caption, both the Pune and Rajkot-based outfits have picked five players each and should do the lion’s share of the bidding.
Delhi Daredevils too can be an active player, flush as it is with the highest available purse of Rs. 37.15 crore.
Missing from the auction will be the two suspended teams — Chennai Super Kings and Rajasthan Royals — which in the previous auctions used to follow a set pattern. CSK preferred continuity and Royals plumped for value-buys.