Current Affairs for BANK, IBPS Exams 31 August 2016

Current Affairs for BANK, IBPS Exams

31 August 2016

:: National ::

India and the U.S. signed the Logistics Exchange Memorandum of Agreement

India and the U.S. signed the Logistics Exchange Memorandum of Agreement (LEMOA) that will give the militaries of both countries access to each other’s facilities for supplies and repairs.
Defence Minister Manohar Parrikar and U.S. Defence Secretary Ash Carter said in a joint statement that the pact “will facilitate additional opportunities for practical engagement and exchange.”
While it is an enabling agreement, LEMOA does not make logistical support automatic or obligatory for either party.
The agreement does not involve allowing military bases either. Each case will require individual clearance. The services or supplies accessed will be on a reimbursable basis.

National Crime Records Bureau comes out

Incidents of rioting remained almost the same in 2015 as compared to 2014, but as communal riots decreased, big increases were seen in other categories – agrarian riots, sectarian riots, student riots and caste conflicts.
This data comes from the “Crime in India” report for 2015 released by the National Crime Records Bureau (NCRB).
Recorded incidents of agrarian riots saw a 327 per cent increase from 628 in 2014 to 2683 in 2015.
The number of people arrested also increased nearly three fold from 3540 to 10353.
Sectarian riots — defined as violence between different sects of the same religion not considering caste conflict — showed a 2,700 and 9,000 per cent jump in incidents.
The decrease in communal riots incidents recorded by NCRB — from 1,227 in 2014 to 789 in 2015 — however does not mesh with data released by the Ministry of Home Affairs in response to a parliamentary question in July 2016.
Ministry data showed a slight increase from 644 incidents in 2014 to 751 in 2015.
Chennai recorded the lowest rate of total crimes among major cities (154.3 per 1 lakh population). Among all cities, only Surat (86.9), Kannur and Dhanbad had better rates.

India finds an ally in US against Terrorism

Echoing India’s concerns for an end to distinction between “good terrorism” and “bad terrorism”, the United States sought action from Pakistan on 26/11 attacks and the attack on the Pathankot airbase.
The tough announcement against terrorism was the highlight of the Strategic and Commercial Dialogue (S&CD).
It saw Secretary of State John Kerry and address Indian concerns on a wide range of issues like counter-terror, multi-lateralism and easier visa regime for Indian workers to the U.S.
Mr. Kerry’s announcement of a trilateral is a significant move ahead and indicates a hardening position on terror that hurts South Asia.
The first and second trilateral dialogues including India, the U.S. and Afghanistan were held in 2012 and 2013.
The comments from the visiting Secretary of State of the outgoing Obama administration came a day after he supported Bangladesh in its fight against international terrorism.
However, Mr. Kerry acknowledged that Pakistan had acted against the “Haqqani network.”

Number of rape offenders known to the victim shows an increase

Following a worrisome trend, the number of rape offenders known to the victim increased from 86 per cent in 2014 to 95.5 per cent in 2015, data released by the National Crime Records Bureau (NCRB).
Of the total cases reported in 2015, 33,098 offenders were known to the victim. In 25 per cent of the cases (8,788 incidents) neighbours were identified as offenders.
Overall, the number of reported rape cases witnessed a five per cent decline from 2014 to 2015, This is the first time in the last six years that this figure has decreased.
A total of 34,651 rape cases were reported in 2015 — around 95 cases every day — down from 36,735 in 2014. 82,422 cases of molestation were reported, categorised as ‘Assault on Women with Intent to Outrage her Modesty.
Delhi and Mumbai had the highest number of total reported rape incidents. But Jodhpur, with 152 incidents, had the highest crime rate for rapes, with 13.4 rapes per lakh women.
From being at the top of the table last time, Delhi is placed second in 2015 with a crime rate of 11.6 rapes per lakh women and 1,893 incidents.
Half of all the rape victims were in the age group of 18-30. About 442 victims were below the age of 6 and 97 were aged greater than 60.

:: Business and Economy ::

Govt to share subsidy burden to replace old vehicles

Union Road Transport minister has asked the Environment Ministry to share the subsidy burden for replacing commercial vehicles that are older than 15 years by tapping into funds earmarked for compensatory afforestation.
He said the Environment Ministry can help subsidise the interest payable on loans for new heavy commercial vehicles under the proposed policy for scrapping polluting automobiles.
The CAMPA, set up in 2009, currently has a corpus of about Rs.40,000 crore earmarked explicitly for compensatory afforestation projects to replenish forests lost to industrial and infrastructure projects.
The Centre now wants to replace it with a new authority, backed by a new bill that was cleared by Parliament in its monsoon session.
The Road Transport Ministry, has proposed a framework under which new vehicles would get concessions from the Centre, the state government and the automobile company in addition to the scrap value of the old vehicle.
In its first phase, the scrapping policy would be restricted to commercial vehicles older than 15 years, which the Minister said account for 65 per cent of the country’s pollution.
“While pollution will come down to that extent, we expect a benefit of Rs.4,000 crore to the Centre and Rs.10,000 crore to the state governments. The auto industry can also expect sales growth of around 22 per cent from this initiative,” Mr. Gadkari said.
Automobile players are enthusiastic about the idea not just because it would boost sales, but also because they will be able to access the high-grade metal scrap from old vehicles.

U.S. to look into India’s concerns on visa fee hike

The U.S. agreed to “look into” India’s concerns about Obama administration’s move to increase fee for H1B and L1 visas.
Indian corporations raised the issue at the India-U.S. CEO Forum saying the move will hurt Indian IT firms, which are the main users of these non-immigrant temporary work visas meant for professionals.
"The move has “affected our people-to-people exchanges. I would urge you to find a just and non-discriminatory solution to these issues,” Ms. Swaraj told the U.S. Secretary of State John Kerry.
India has already dragged the U.S. to the World Trade Organisation on the issue saying it is “discriminatory” against Indian firms.

Reserve Bank made a strong case for providing more capital to public sector banks

Reserve Bank made a strong case for providing more capital to public sector banks to deal with the problem of stressed assets and get back to a position from where they can start generating internal accruals.
Indian banks got into stress before implementation of Basel III and revised IFRS which provide protection against system level stresses.
The government has been supportive and they have provided requisite capital for the public sector banks.
However there is still need to ensure that stressed asset build-up is contained so that banks get back to generate adequate internal accruals.