Current Affairs for BANK, IBPS Exams 27 June 2016

Current Affairs for BANK, IBPS Exams

27 June 2016

:: National ::

India hopes of NSG entry through special plenary

Sounding hopeful of its inclusion in the Nuclear Suppliers Group (NSG), India on Sunday acknowledged that the Seoul plenary of the elite club did not yield the “expected results”.
Confirming the report, an official source told the media that a “special plenary session of the NSG may be called at the year-end”.
However, the Ministry focussed on the reason for the failure in Seoul, saying India’s entry was scuttled by opposition from “one country”, meaning China.
It was the second time that India referred to opposition from one country which prevented it from becoming member of the NSG at the Seoul plenary.
MEA said India had the right credentials for becoming a NSG member as it had met the conditions of the non-proliferation treaty.
To the extent that the goalpost remains the implementation of the NPT, we believe we have met the criteria and have all credentials to be a NSG member.
Our non-proliferation credentials are very well known, our record speaks for itself.
As a step towards joining various technology regimes, India would join the Missile Technology Control Regime on Monday, he said.

80 per cent of companies had been victims of fraud in 2015-16

An overwhelming 80 per cent of companies polled in India said they had been victims of fraud in 2015-16, up from 69 per cent in 2013-14, according to a survey report.
The Global Fraud Report 2015-16 by risk mitigation consultancy Kroll found that the perceived prevalence of fraud in India is the third-highest among all countries and regions surveyed across six continents.
Only Colombia (83 per cent) and Sub-Saharan Africa (84 per cent) surpass India.
The report's authors observed that while the incidence of fraud was on the rise globally, a combination of a lack of preventive measures at Indian companies and a poor legal system had resulted in 92 per cent of the respondents saying they had witnessed an increase in exposure to fraud.
The India-centric data in the report shows that the highest incidence of fraud as reported by Indian companies is due to what the report terms ‘corruption and bribery’.

Ministry of Women and Child Development has instituted the National Child Award

The government of India has sought nominations from all States for national awards for children with exceptional abilities in academics and other fields.
The Ministry of Women and Child Development has instituted the National Child Award to give due recognition to children with exceptional abilities.
Also recognise who have achieved outstanding status in various fields including academics, arts, culture, design and sports etc.

PM indicates of crackdown on tax evasion

Signalling a crackdown on tax evasion, PM, in Mann ki Baat, said a tax amnesty scheme for disclosure of undisclosed income and property would be the last chance for people to join a “transparent system”.
Mr. Modi also spoke of the declaration of Emergency, 41 years ago this June, and how things had changed, with an open assessment of the government, and “open mocking” of even his radio address, a sign of democracy.
“I have promised that there will be no inquiry into the source of the undisclosed income and assets if the declaration is made voluntarily. That is why I am saying it is a good chance for becoming a part of the transparent system." he said.
“My plea is that by running away from rules, we lose our peace. Any small person can harass us. Why should we let it happen?
Why not ourselves give correct information to the government about our income, about our wealth? For once, dispose of the baggage of the past. I appeal to my countrymen to get free from this,” the Prime Minister said.
At the same meeting, the Prime Minister said he was informed that only 1.5 lakh people had taxable income of over Rs. 50 lakh.
“This cannot be digested by anybody. One can see lakhs of people with taxable income of over Rs. 50 lakh in big cities. Before taking any tough step, the government wants to give the people a chance.
Therefore, my brothers and sisters, there is a golden chance to declare your undisclosed income.
Referring to the Emergency, and comparing the freedom enjoyed by the people now, he said, the government can be openly criticised and even mocked.
Recalling the imposition of the Emergency, Mr. Modi said: “All rights of the citizens were taken away. Along with Jayaprakash Narayan, lakhs of people and thousands of politicians were sent to jail.”

:: International ::

Pope spread message of peace for Turkey-Armenia

Pope Francis on Sunday released peace doves on the Armenia-Turkey border in a gesture of reconciliation as Ankara slammed the pontiff for denouncing the mass killings of Armenians by Ottoman forces as “genocide”.
Standing on a terrace of the Khor Virap monastery, Pope Francis and the head of the Armenian Apostolic Church Kareki- II released the two white birds in the direction of Mount Ararat.
The long-planned gesture at the end of a three-day visit to Armenia came in the face of fresh Turkish ire after Pope Francis used the word “genocide” to refer to the century-old slaughter that Ankara furiously rejects.
Turkish Deputy Prime Minister labelled the Pope’s declaration “very unfortunate” and said it bore traces of “the mentality of the Crusades”. “It is not an objective statement that conforms with reality,” he said.
The Vatican rejected the allegations and said the Pope was trying to build “bridges not walls” and had nothing against Turkey.

:: Business and Economy ::

Japanese messaging app company Line Corp. IPO

In delaying its IPO by two years, Japanese messaging app company Line Corp. bought time to correct weak financial reporting controls, work on its business plan, bolster staffing.
Line's initial public offering in the next three weeks is set to raise about $1 billion, which given a global drought of such deals could make it the biggest tech listing this year.
The bulk of Line's revenue comes from games and sales of emojis and electronic stickers, including Brown the bear and Cony, his flatulent rabbit girlfriend.