Current Affairs – March 9 2016

INDIAN AFFAIRS

Enemy Property Bill Amendment Introduced In Parliament

A bill to amend the 48-year-old Enemy Property Act to allow the custodians to continue to hold sway over enemy properties was introduced in Lok Sabha. It proposed to amend the Enemy Property Act, 1968.

• The central government had designated some properties belonging to nationals of Pakistan and China as “enemy properties” during the 1962, 1965 and 1971 conflicts with the respective countries

Gujarat tops the list of states with most investment potential

Gujarat government has topped the list of states with most investment potential that has been according to the survey from New Delhi based think tank National Council of Applied Economic Research (NACER).

• The list of 21 states that kept on survey, Gujarat, New Delhi and Tamilnadu as the top destinations for making investments.

Karnataka launches Mukhyamantri Santwana Harish Yojana for free treatment to accident victims

Karnataka Government led by Chief Minister Siddaramaiah launched Mukhyamantri Santwana Harish Yojana for free treatment to accident victims for the first 48 hours in the nearest hospital be it Government or Private Hospital.

• The accident victims treatment scheme Mukhyamantri Scheme Harish Yojana has been named after Nanjappa who donated his eyes minutes before he passes away seeking help after severely injured in a mishap in the city.

Govt mulls policy to promote wind energy projects

In Order to propel the Wind Energy Potential in India, Union government will soon unveil a policy to give incentives including an interest discount of 0.25 % for increasing capacity of Wind mills of up to 1MW.

• The objective of the mooted policy is to promote optimum utilisation of wind energy resources by creating facilitative framework for repowering.

India to Deploy Women Pilots In Fighter Plane by June
As a part of women empowerment the announcement came from Air force on International Women’s day celebrations that India’s air force will induct its first female fighter pilots in June.

• Last month President Pranab Mukherjee announced that women will be allowed in all combat roles in the armed forces
• Women currently comprise just 5% of the armed forces, working mostly in non-combat roles
• Women were inducted as pilots in 1991, but on only helicopter and transport planes but three female pilots will complete their training and be inducted into the fighter plane force on 18 June
• Bhawna Kanth, Avani Chaturvedi and Mohana Singh are likely to create history as India’s first women fighter pilots

Points to know

• 20 Women Fighter pilots are serving in Pakistan army
• India’s Air force chief– Arup Reha

Indian Railways forms SPV to execute Mumbai-Ahmedabad bullet train project
Railways shifting the gears to introduce trains that run at speeds around 320 kmph, the railways have formed a new Special Purpose Vehicle (SPV) to implement the Mumbai-Ahmedabad High Speed Bullet Train project named the National High Speed Rail Corporation Limited.

• Completion of the project aimed on time to avoid additional expenses of the project, a Joint Committee has been formed under the Vice-Chairman of NITI Aayog with the secretaries of the Department of Industrial Policy and Promotion (DIPP), Departments of Economic Affairs and Foreign Ministry as its members along with the Chairmanof Railway Board.
• The project expected that it will take about seven years after the awarding of the contract for the project to be completed.
• 81 per cent of the funding for the project would come from the loan from Japan. It is a soft loan for 50 years at 0.1 per cent annual interest with 15 years’ moratorium period.

India, Saudi Arabia hold talks on regional and global issues
Country’s largest Crude oil supplier Saudi Arabia and India hold talks on regional and global issues of mutual interests.

• The Saudi Arabia’s foreign minister was on two day visit to India during the visit Union External Affairs Minister SushmaSwaraj held extensive talks with her Saudi Arabian counterpart Adel bin Ahmed Al-Jubeir in New Delhi.
• About one fifth of the country’s import comes from Saudi Arabia the Ministers of the both countries also discuss ways to boost trading ties, exploring new areas of cooperation are expected to be in pipeline.

Saudi Arabia:

•  Capital: Riyadh
•  Currency: Saudi Riyal

INTERNATIONAL AFFAIRS

Women’s wages remain unchanged in 20 years: ILO Report 

Women have actively involved themselves in various works across the world yet the gender inequality in terms of income and work quality still remains unchanged in the past 20 years. This was revealed in the International Labour Organization’s Report.

• On International Women’s Day, a new ILO report, Women at Work: Trends 2016 was released
• The report noted that women are over represented in clerical service and sales work, which are among the lowest paying jobs

BANKING & FINANCE

YES Bank started its All Women Branch in Bengaluru

As a part of the International Women’s day celebrations various Banks announced schemes related to women. YES Bank also joined this list by starting its first All women operated branch in Bengaluru.

• Private lender Yes Bank launched an all-women operated bank branch ‘Yes Grace’ on Cunningham Road aimed at offering customised banking solutions to women

RBI to share FDI details with IB & RAW

The Reserve Bank of India will now share its FDI details with the Intelligence Bureau and Research and Analysis Wing to prevent the entry of Black money into the country.

• The committee headed by Revenue Secretary decided to provide the details of FDI resting with RBI to IB & RAW
• This is done as a measure to prevent the economic crimes in the country

Govt removes proposed tax on EPF withdrawals
Union government has rolled back controversial EPF Tax withdrawal

• The proposal announced in the Budget Speech had sought to make up to 60 per cent of savers corpus withdrawn from the EPF tax-free if invested in annuity, the period return on the annuity was to be taxable.
• The centre announced up to 60 % of corpus withdrawal from EPF fund will not be included for tax only if invested in National Pension Scheme remaining 40% to be tax free.
• However the 40 per cent exemption given to subscribers of the National Pension Scheme (NPS) at the time of withdrawal remains in the agenda.

RBI inks information exchange pact with Bank of Israel
Mumbai based Reserve Bank of India has signed a pact with Bank of Israel for Information Exchange and Banking supervision.

• A memorandum of Understanding (MoU) was signed between HedvaBer from Bank of Israel and Parvathy V sundaram Chief General Manager on behalf of RBI.
• The Banker’s Bank has entered into a MoU, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries to promote greater co-operation and share supervisory information.
• With this, the RBI has signed 32 such MoUs, one Letter for Supervisory Co-operation and one Statement of Co-operation.

Reserve Bank of India:

• Headquarters:  Mumbai
• Governor: RaghuramRajan
• Founded: April 1 1935

BUSINESS

Indian Railways Signs Agreement with Bajaj Power

Bajaj Power inked agreement with Indian Railways for Lalitpur- Udaipura rail section electrification project.

• The Project would cost nearly 47 crore to be completed in a year time by PPP(Public Private Partnership) model.
• If the section gets electrified it would facilitate uninterrupted coal supply to 1, 980 MW thermal Power Plant in Lalitpur district Uttar Pradesh.
• The power plant wholly owned by Bajaj Power generation Company. The third unit of 660 Mw is likely to get operationalby this month.

Tata Motors partners US Firm for Rs 50 K Crore project

• Tata Motors has signed Tri Partite Partnership with Bharat Forge and US based General Dynamics Land Systems for Rs. 50 K crore future infantry combat Vehicle project.
• The country’s largest commercial Vehicle maker has inked with Pune based auto parts maker Bharat Forge will be partnered by the US firm.
• India’s Defence Force needs partners with long-term commitments to develop products and solutions through multiple generations of evolution.
• This tie up will position us well to help the country realise its Make in India vision through the development of the first completely indigenised combat vehicle

Future Infantry Combat Vehicle:

• The FICV is a high-mobility reinforced battle vehicle for ferrying infantry men.
• The special Vehicle will replace the army’s fleet of 2,610 Russian-designed BMP-series armed vehicles in operation since 1980.

AWARDS & RECOGNITIONS

President Pranab Mukherjee presented 2015 Nari Shakti awards

The President, Shri Pranab Mukherjee presented Stree Shakti Puraskars and Nari Shakti Puraskars for the year 2015 at a function organized on the International Women’s Day in Rashtrapati Bhawan, New Delhi.

• The International Women’s Day is observed this year with the theme “Planet 50-50 by 2030: Step It Up for Gender Equality”.

APPOINTMENTS & RESIGNS

S Rao will take over as the new public interest director and chairman of BSES
Ramadorai has retired from the BSE Chairman and Karnataka’s former Chief Secretary Sudhakar Rao will replace the former.

• Ramadorai has served since 2010 and retire on 7^th March after serving six years.
• Prior to Rao’s appointment he served as Public Interest Director of Bangalore Stock Exchange.
• The New Appointment is subjected to SEBI’s approval.

Sudhakar Rao:

• Rao, a retired IAS Officer of the 1973 batch, on retirement from the government service, he was appointed as a Member of the Public Enterprises Selection Board (PESB).

Gamlin appointed new CS of Arunachal
A 1984- batch IAS officer Shakuntala Doley Gamlin has been appointed as Chief Secretary of Arunachal Pradesh .she replacing Ramesh Negi. 

• Before her new appointment, Gamlin, first woman IAS officer from Mishing tribe of Assam, served as Principal Secretary (Power) in New Delhi.
• Negi has been transferred to the Government of National Capital Territory ofDelhi (GNCTD) with immediate effect.

Key points:

• Capital: Itanagar
• Governor: Jyoti Prasad Rajkhowa
• Chief Minister: Kalikho Pul

SCIENCE & TECHNOLOGY

Iran conducts several ballistic missiles tests

Iran has test fired several ballistic missiles in silos across the country as part of a military exercise.

• In the Military Exercise Missile test medium and long range precision guided missiles were test fired from various sites to display the country’s Hostility to confront any threats.

Five health care ATMs have come up in four states

Five Healthcare ATMs have come up in four states that dispense Medicines based on a prescription unless they refer the patient to a doctor.

• Five Medicine ATMS will come in Madhya Pradesh, Himachal Pradesh, Odisha and Andhra Pradesh under a health Ministry pilot that merges telemedicine with a basic free drugs programme.
• The ministry is expecting these would tide over the massive deficiency of doctors in the country.

ENVIRONMENT

Climate change could kill 500,000 adults by 2050

With the rise in global emissions the Global Warming could be aggravated. In turn the climate changes can affect the people worldwide. A recent study shows that it is likely to cause 500,000 deaths by 2050.

• The latest computer modeling study reveals that climate change would badly affect China and India
• The study released by The Lancet predicts 36 lakh death in India and 2.48 lakh death in China owing to the Climate change and its effects

BOOKS & AUTHORS

Dr. Mahesh Sharma releases the book “The Culture Heritage of Trans Himalayas-Kinnaur”
The Minister for State (I/C) for Culture and Tourism and Minister of State for Civil Aviation Dr. Mahesh Sharma released a book entitled “The Culture Heritage of Trans Himalayas-Kinnaur” authored by Shri P.S. Nagi Loktus, IAS (retd.)

• The book, published by IGNCA under Ministry of Culture.

About the book:

• It is a study of the cultural heritage of the trans-Himalayan area of Himachal Pradesh, especially Kinnaur that involves documentation of traditional institutions like temples, monasteries, Bon chos, artefacts, forts and old dialects of various ethnic groups.
• This book will be very useful for research scholar and students concerned with the Cultural heritage of India.