Weekly GK Capsule 17th June to 23rd June 2019
Economy…………...... 08 Finance & Banking...... 13 Governance & Polity...... 16 Environment & Ecology…...... 20 National News...... 22 International News...... 25 Social Issues…………...... 27 Defence & Security….………………………………………28 Facts of the Week ...... 35
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Weekly GK Capsule 17th June to 23rd June 2019 Economy India can boost exports of 350 products to US, China amid trade war: Study According to a study by the Commerce Ministry, the ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many as 350 products. Both the US and China are imposing heavy import duties on each other's products, which has triggered a trade war kind of situation. The ongoing trade war between the US and China offers an opportunity to India for boosting exports of as many 350 products such as chemicals and granite to these countries. As much as 151 domestic products including diesel, X-ray tubes and certain chemicals have an outright advantage to displace the US exports to China. Similarly, 203 Indian goods like rubber and graphite electrodes have the advantage to displace Chinese exports to the US. The Indian products which can tap the Chinese market include copper ores, rubber, paper, paperboard, equipment for transmission voice/data in a wired network, tunes and pipes. The Indian products which can grab exports opportunities in the US market include industrial valves, vulcanised rubber, carbon or graphite electrodes and natural honey. Extension to anti-profiteering body, extra-neutral alcohol inclusion on GST council’s agenda Electronic invoices (e-invoices) system, an extension to National Anti-profiteering Authority (NAA), the revenue position of states and the new return filing system will be discussed in the 35th meeting of the Goods and Services Tax (GST) Council. Levy of GST on extra-neutral alcohol (ENA) used in manufacturing liquor for human consumption is also expected to be discussed in the meeting of the Council. An extension for NAA, before its two-year sunset clause, is being seen necessary as there are many pending cases. The anti-profiteering rules are in relation to Section 171 of the CGST Act, which provides that any reduction in rate of tax on any supply of goods or services, or the benefit of input tax credit shall be passed on to the recipient (consumer) by way of a commensurate reduction in prices. The inclusion of ENA under GST was discussed in Council’s meetings earlier as well, after which the legal opinion was sought from AG. The AG is then learnt to have opined that given that ENA is not fit for human consumption, bringing it under GST won’t require a Constitutional amendment. Government rules out bringing oil products under GST for now The Centre has virtually ruled out including petroleum products within the ambit of GST immediately, turning down repeated demands from the aviation sector and oil companies. Even the petroleum ministry had taken up cudgels for the sector that has been arguing that benefit of GST is not accruing to them as companies cannot claim input tax credit. The credit can only be claimed if the entire chain from inputs to the final product pays GST. Stamp duty on real estate, excise on alcohol and petroleum products are among the handful of items on which states still have control after the introduction of GST.
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Weekly GK Capsule 17th June to 23rd June 2019 At the time of the introduction of GST two years ago, the states and the Centre had decided to pool their powers, which now vests with the GST Council. The panel headed by the Union finance minister now decides the rates and the indirect tax regime, leaving only a few items with the state FM. World Food India to be held from 1st to 4th November 2019 in New Delhi Union Minister for Food Processing Industries announced that World Food India (WFI) 2019 will be held from 1-4th November 2019 in New Delhi. World Food India is the gathering of all global and domestic stakeholders in Food Processing Sector with the objective of promoting food processing sector at global level. Features: WFI 2019 shall consist of several top level seminars, investment opportunities, exhibitions, high level CEO roundtables, country sessions, B2B and B2G networking etc. The tagline of the event will be “Forging Partnerships for Growth”. WFI is a biennial event with the first such event conducted in 2017. WFI 2019 will be the second edition of World Food India. Importance of Food Processing:
Food processing is one of the six superstar sectors under the Government of India’s Make in India initiative. The processing levels in India remain low at 7.7% behind several economies such as China, Malaysia and US. India’s share in global exports of processed food is only 2%. Besides, India also has a high share of harvest and post-harvest losses from major agricultural produces on account of poor storage, transportation and logistics to the extent of INR 92,651 Crores ($13 Billion)-3 times the agricultural budget. Seven million jobs created in formal sector in last three years: Report The Indian Staffing Federation (ISF) has reported the formalisation of over seven million jobs between 2015-2018 due to reforms and initiatives taken by Indian government. The report titled, ‘Impact of key reforms on job formalisation and flexi-staffing’ mentioned that 1.2 million workers have been added to the flexi-workforce since 2015 and a further 1.53 million are to be added over the next three years. The government’s current agenda of job creation can be achieved by boosting the aggregate effective demand in the economy through formalisation, industrialisation, urbanisation, financialisation and skilling. India will have a 6.1 million flexi-workforce by 2021. Sectors such as logistics, banking, financial services and insurance (BFSI), IT/ ITeS, retail and government would be the top five sectors, employing over 55 per cent of the total flexi- workforce by 2021. The flexi staff space grew at a Compound Annual Growth Rate (CAGR) of 16.3 per cent in 2018 and is expected to further accelerate to 22.7 per cent from 2018-2021. The report establishes flexi-staffing as a key job creation engine.
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Weekly GK Capsule 17th June to 23rd June 2019 The acceleration in momentum towards formal employment witnessed in the past three years clearly means the reforms such as the payment of wages act and EPF are having a positive impact. Explain how PM Modi will double farmers' income, EU asks India at WTO The WTO has strict rules about the size and nature of payments, and member governments keep a close watch for any competitors who might be cheating. Their questions — 62 pages for the June 25-26 meeting — can range from requests for clarification to outright allegations of illegal handouts. US President Donald Trump and Prime Minister Narendra Modi have both made boosting farm incomes a priority. Trump is trying to offset domestic damage from a tariff war with China; Modi faces a slowdown in India’s agriculture-dominated economy. The United States queried India’s 5% export subsidy for non-Basmati rice and its growing state buying of wheat at rising prices, despite back-to-back record harvests, noting that it was on track for a record wheat stockpile. The United States and Australia also wanted details of India’s new “transport and marketing assistance” for agriculture, which Australia said was an export subsidy that should be phased out. The United States faced questions from Australia, Canada, China, the EU, India, New Zealand and Ukraine about Trump’s $16 billion “market facilitation package”, the second payout under a programme that had been described as a one-off. India criticised the US 2018 Farm Bill, saying it benefited not only farmers, but also their first cousins, nieces and nephews, with children and spouses qualifying for $125,000 of payments. Plan to supersede NSC with PM-led council shelved The government has shelved a proposal to set up an independent statistical authority, National Statistical Development Council (NSDC), to be headed by the prime minister. NSDC was proposed to be above the National Statistical Commission (NSC), which is now the apex advisory body on statistical matters. The ministry of statistics and programme implementation (Mo-SPI) plans to defer setting up the council in the upcoming draft National Policy on Official Statistics. It was planned to guide NSC on related policy matters. NSDC was proposed to handle Centre-state relations in areas of official statistics and represented by the chief ministers of six states to be nominated by the Centre. The Niti Aayog vice-chairman, cabinet secretary, Reserve Bank of India governor and the chairperson and members of the NSC were to be the members. The suggested permanent invitees included secretaries to the ministry of home affairs and economic affairs, chief statistician of India, chief statistical auditor, University Grants Commission chairperson, director-general of Central Statistics Office, director general of National Sample Survey Office and the director of Indian Statistical Institute. What a $5 trillion economy would look like The economy must be evaluated in terms of how much it contributes to the ease of our living
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Weekly GK Capsule 17th June to 23rd June 2019 At the meeting of the Governing Council of the NITI Aayog last week, Prime Minister Narendra Modi announced the target of a $5 trillion economy for India by 2024. It is necessary to think big when seeking to make a difference, for transformation does not come from modest plans. What would we like to see in the proposed $5 trillion economy? Moreover, unlike in the case of an expressway, which can always be built by simply borrowing money and ideas from the global market, a quantum leap in the size of the economy is not so easily achieved. It will require design, funding and governance. The importance of funding, and to an equal extent design, may be seen in the failure of the quite sensible aspiration, ‘Make in India’. Though technically applicable to every sector, it was clearly focussed on manufacturing. To raise the share of manufacturing in the economy from its present 16% to 25%, an ambition declared by both the United Progressive Alliance and National Democratic Alliance governments, requires a scaling up of investment. This did not come about. A small digression should clarify matters. The first attempt to make in India was in the 1940s. Finance Minister Shanmukham Chetty’s first budget speech had identified increasing “internal production” as the economic priority. Indians should feel empowered by the economy. We know that currently they do not feel so. India is placed very low in the United Nations’ World Happiness Report. Happiness, best understood as a sense of well-being, is directly related to empowerment, or being able to undertake the functionings we value. For over three decades now income inequality has been rising in India. According to some measures, India is today more unequal than China, itself a society widely perceived as highly unequal. Now some part of inequality of opportunity is related to unequal distribution of income but a part of it is not. FSDC meet discusses economy, NBFC situation In its first meeting after the Narendra Modi government came back to power, the Financial Stability and Development Council (FSDC) reviewed the current global and domestic economic situation and financial stability issues including those concerning banks and NBFCs. The 20th meeting of the FSDC was held under the chairmanship of Finance Minister Nirmala Sitharaman. The Council also held consultations to obtain inputs/suggestions of the financial sector regulators for the Budget. All the regulators presented their proposals for the Union Budget 2019-20. The FSDC also took note of the activities undertaken by the its sub-committee chaired by the Reserve Banl of India Governor and the action taken by members on the decisions taken in earlier meetings of the Council. The Council was also apprised of the progress made towards setting-up of the Financial Data Management Centre (FDMC) to facilitate integrated data aggregation and analysis as also a Computer Emergency Response Team (CERT-Fin) towards strengthening the cyber security framework for the financial sector
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Weekly GK Capsule 17th June to 23rd June 2019 Fitch cuts India growth forecast to 6.6% for 2019-20 fiscal In its latest Global Economic Outlook, the global rating agency Fitch lowers India's growth forecast from 6.8% to 6.6% for the current fiscal, as manufacturing and agriculture sectors showed signs of slowing down over the past year. Fitch also retained its GDP growth forecast for the next fiscal (2020-21) at 7.1% and 7.0% for 2021-22. EAC-PM releases a detailed analysis on robustness of India’s GDP estimation methodology The Economic Advisory Council to the Prime Minister (EAC-PM) released a detailed note titled GDP estimation in India- Perspectives and Facts. The note provides a clear rationale for India’s switch to an improved GDP estimation methodology in January 2015. The new methodology that uses 2011-12 as the base year includes two major improvements: Incorporation of MCA21 database, and Incorporation of the Recommendations of System of National Accounts (SNA), 2008. This change was in line with other countries that have changed their methodologies in line with SNA 2008 and revised their respective GDP figures. On average, real GDP estimates saw an increase of 0.7 per cent among OECD countries. The note also provides a point-to-point rebuttal to a recently published paper titled ‘India’s GDP Mis-estimation: Likelihood, Magnitudes, Mechanisms, and Implications’ by Dr.Arvind Subramanian. Introduction of manual checks in IGST refunds aimed to prevent unscrupulous exporters from defrauding exchequer: CBIC The Government of India has assured all genuine exporters that they would continue to get their Integrated Goods and Service Tax (IGST) refunds in a timely manner in a fully automated environment. The Central Board of Indirect Taxes and Customs (CBIC) said, introduction of manual checks in IGST refunds is aimed at preventing unscrupulous exporters from defrauding the exchequer. The CBIC's clarification came in view of media reports which highlighted a perceived setback to the automated process of refunds for exporters under GST on account of the introduction of manual checks in IGST refunds. It termed the reports as misleading. Integrated Goods and Services Tax (IGST)?
IGST meaning Integrated Goods and Service Tax, is one of the three categories under Goods and Service Tax (CGST, IGST and SGST) with a concept of one tax one nation. IGST falls under Integrated Goods and Service Tax Act 2016. IGST is charged when movement of goods and services from one state to another. For example, if goods are moved from Tamil Nadu to Kerala, IGST is levied on such goods. The revenue out of IGST is shared by state government and central government as per the rates fixed by the authorities.
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Weekly GK Capsule 17th June to 23rd June 2019 Under Article 269A of the Constitution,
The GST on supplies in the course of inter-State trade shall be levied and collected by the Government of India and such tax shall be apportioned between the Union and the States according to the provisions of law on the recommendations of the Goods and Services Tax Council. Under the IGST scheme, 50% of the collections will go to the Centre (as the Central Goods and Services Tax component) and the remaining 50% will be allocated to the States and Union Territories (as the State Goods and Services Tax component). And, 42% of the CGST will be devolved to the States and Union Territories. FM chairs 35th GST Council meeting in Delhi The 35th GST Council Meeting was held under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. Key decisions taken by the council during the meeting: The Council took a decision regarding location of the State and the Area Benches for the Goods and Services Tax Appellate Tribunal (GSTAT) for various States and Union Territories with legislature. It has been decided to have a common State Bench for the States of Sikkim, Nagaland, Manipur and Arunachal Pradesh. The tenure of National Anti-Profiteering Authority (NAPA) has been extended by 2 years. NAPA deals with complaints by consumers against companies for not passing on GST rate cut benefits. Electronic invoicing system to be introduced in a phase-wise manner for B2B transactions. The Phase 1 is proposed to be voluntary and it shall be rolled out from January 2020. E-invoicing would help taxpayers in backward integration and automation of tax relevant processes. It would also help tax authorities in combating the menace of tax evasion. It has simplified rules for registration and Aadhaar will now be used by businesses for registration under GST. In the earlier system, people had to give various documents. India’s first solar-powered cruise boat to be rolled out in December India’s first solar-powered cruise boat will be rolled out in December 2019 in Alappuzha, Kerala. The initiative comes from the Kerala State Water Transport Department (SWTD). It earlier launched Aditya, India’s first solar-powered ferry in 2016 in the Vaikom-Thavanakadavu route which has proved to be a success. Features: The ₹3-crore cruise boat that can carry 100 passengers is under construction at a boatyard in Aroor. The hybrid vessel will be powered by a motor that can source energy from solar panels, battery, and generator. Its battery will have 80 KWh (kilowatt hour) power backup, as compared to 50 KWh backup in Aditya.
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Weekly GK Capsule 17th June to 23rd June 2019 The double-deck, double-engine catamaran-type vessel adheres to norms specified by the Indian Registry of Shipping (IRS). Barmer oil refinery back on track Rajasthan Chief Minister Ashok Gehlot has set the target for the completion of the Barmer oil refinery project within four years. Barmer Refinery is an upcoming public sector refinery and petrochemical complex which will have a total processing capacity of 9 million metric tonnes per annum (Mmtpa). It will be built 5km away from Pachpadra village in Rajasthan’s Barmer district. It is being developed by a joint venture (JV) between Hindustan Petroleum Corporation Limited (HPCL, 74%) and the Government of Rajasthan (26%), known as HPCL Rajasthan Refinery Limited (HRRL). Construction on the project commenced in January 2018 and is slated to be completed by 2022-23.
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Weekly GK Capsule 17th June to 23rd June 2019 Finance & Banking How private banks are taking over Indian banking That state-run banks are in a bad shape is well known. Their overall bad loans, largely loans that have not been repaid for 90 days or more, amounted to ₹8.64 trillion as of December. What is not so well known is that over the last two fiscals, private banks have moved in and captured a large section of Indian banking. What is the overall situation with regard to outstanding deposits? As of 31 March, the total amount of deposits in the Indian banking system was ₹125.6 trillion. Public sector banks had 63.1% of these deposits and private sector banks 28.7%. While public sector banks continue to have the most deposits among the different kinds of banks operating in India, they have lost market share over the years. What is the overall situation with regard to outstanding loans? As of 31 March, the total amount of loans given out by Indian banks was ₹98.2 trillion. Of this, public sector banks had a market share of 58.8%, while private banks had 33.6%. The situation was different a few years ago. Budget likely to make ₹30,000 crore provision for PSBs Finance Ministry is evaluating capital needs of state-owned banks, and likely to provide about ₹30,000 crore in the upcoming Budget to help them meet minimum regulatory capital requirement in the current fiscal. The first budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister Nirmala Sitharaman on the backdrop of India's economy hitting 5-year low growth of 6.8 per cent in 2018-19. The public sector banks would also require capital for the credit growth, which has just started picking up. Five weak banks under the Prompt Corrective Action (PCA) framework of the RBI too need capital to maintain minimum regulatory capital ratios as per the Basel III norms. It is to be noted that the government infused ₹5,042 crore in BoB to enhance its capital base to meet additional expense due to amalgamation of Dena Bank and Vijaya Bank. What does in-person verification mean? IPV is a process where the financial intermediary (broker, mutual fund and distributor) verifies the client and his documents in person, as mandated by SEBI. Every client has to go through the IPV before opening a trading and a demat account or before making any purchases, switches or systematic transaction in mutual funds. Traditionally IPV was done physically where an employee of the intermediary would visit and verify but now it is done online via video conferencing. The investor must produce the original of ID and residential proofs submitted electronically with the intermediary and answer questions regarding the documents Once a KYC registration authority updates KYC and IPV records, all intermediaries can access them, eliminating the need for multiple verification and duplication of data.
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Weekly GK Capsule 17th June to 23rd June 2019 Digital transactions set to rise four times by 2021: Reserve Bank of India According to a Reserve Bank of India (RBI) report, Digital transactions in India are set to rise four times by 2021. Key findings of the report: India’s push to build a less-cash economy seems to be gathering momentum. Total digital transactions in volume terms recorded a growth rate of 58.8 % during 2018-19, on top of a growth of 50.4 % during 2017-18. The number of digital transactions is expected to increase more than four times from Rs 2,069 crore in December 2018 to Rs 8,707 crore in December 2021. Though the bulk of digital transactions in value terms (82.8 %) are accounted for by RTGS transactions, retail component of digital transactions (excluding RTGS customers and interbank transactions) witnessed a volume growth of 59.3 % during 2018-19. Recent innovations in payment and settlement system:
The payment and settlement landscape has witnessed unprecedented waves of innovation. Mobile wallets have literally made banking services available ‘on tap’; digital-only banks have done away with the need for brick and mortar presence. Biometric authentication has made doing transactions much safer and more convenient than the conventional modes of payment. Blockchain may be a potentially disruptive technology but it is automating and decentralising financial transactions. Artificial Intelligence (AI) is being employed in financial technology (fintech) industry in the form of automated data analysis, chatbots and robo-advisers. Near field communication (NFC) technology and central bank digital currencies (CBDCs) are other path-breaking innovations that have emerged into the payment and settlement landscape. RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra A Reserve Bank of India (RBI) expert committee on micro, small and medium enterprises (MSMEs) has recommended doubling the cap on collateral-free loans to Rs 20 lakh from the current Rs 10 lakh. This will be extended to borrowers falling under the Mudra scheme, self-help groups, and MSMEs. The current limit of Rs 10 lakh on collateral-free loans was prescribed by RBI in June 2010. A collateral free loan means that borrowers do not have to offer any asset or pledge collateral to borrow against. The committee has also suggested various long-term solutions for the economic and financial sustainability of MSMEs. The report has also recommended the mainstreaming the restructuring of stressed loans, considering the central bank had given a one-year window to banks to do so in January 2019. The proposal is part of a report prepared by the eight-member RBI committee tasked with reviewing the current framework for the MSME sector. 10 | P a g e All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly GK Capsule 17th June to 23rd June 2019 The panel was headed by former Securities and Exchange Board of India chairman U K Sinha. Communication RBI's key tool in managing fiscal stability: Shaktikanta Das Communication will continue to remain a key tool in the Reserve Bank of India (RBI)’s arsenal to manage financial stability, governor Shaktikanta Das said. Reserve Bank will continue to focus on effective communication and coordination with all stakeholders to achieve broader macroeconomic objectives of price stability, growth and financial stability. The unconventional monetary policy measures undertaken by global central banks during the crisis period worked mainly through the confidence and signalling channels. Communication comes at a time when the central bank prepares to revamp its liquidity management framework. The central bank is expected to use effective communication to bring the market participants and the central bank on the same page in terms of interpretation of liquidity. This should cut down the information asymmetry significantly and make rate stable and help policy transmission easier. The central bank’s changes in stance, for example, from ‘neutral’ to ‘accommodative’, is an example of such communication. While it does not directly bring a rate cut, but it acts as a strong communication to the market that “rate hikes are off the table.” SEBI permits stock exchanges to introduce futures on commodity indices Capital markets regulator SEBI permitted stock exchanges with commodity derivative segment to introduce futures on indices. SEBI in a circular said, the stock exchanges, willing to start trading in futures on commodity indices, are required to take prior approval for launching such contracts. It has directed the stock exchanges to submit proposal with contract specifications and risk management framework for approval before launching any futures contract on an index. The recent decision is part of larger efforts to deepen the participation of institutions in the derivatives segment. The SEBI directives are in line with recommendations of Commodity Derivatives Advisory Committee. RBI falls short of meeting Basel III requirements: Report According to a report by the Basel Committee on Bank Supervision (BCBS), the Reserve Bank of India has fallen short of meeting tougher requirements set by the Basel III norms. The report looked at adoption status of Basel III standards by 30 global systemically important banks (G-Sibs) as of end-May 2019. The RBI is yet to publish the securitisation framework and rules on Total Loss-Absorbing Capacity (TLAC) requirements. Securitisation framework includes credit enhancement facility, liquidity facility, underwriting facility, interest rate or currency swaps and cash collateral accounts.
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Weekly GK Capsule 17th June to 23rd June 2019 TLAC requirements ensures that G-Sibs have adequate loss absorbing and recapitalisation capacity so that critical functions can be continued without taxpayers’ funds or financial stability being put at risk. The RBI is also yet to come out with draft regulations on revised Pillar 3 disclosure requirements, which took effect from end-2016. Indian banks are in the process of implementing rules on Interest Rate Risk in the Banking Book (IRRBB). The central bank is also yet to come out with final guidelines on the same. Globally the rules were effective from end-2018.
Basel Committee on Bank Supervision (BCBS) It is a committee under the Bank For International Settlements. Established in 1930, the BIS is owned by 60 central banks, representing countries from around the world that together account for about 95% of world GDP.
Its head office is in Basel, Switzerland.
Its mission is to serve central banks in their pursuit of monetary and financial stability,
to foster international cooperation in those areas and to act as a bank for central banks.
It is the primary global standard setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters. The Committee identifies global systemically important banks (G-SIBs) using a methodology that includes both quantitative indicators and qualitative elements.
A global systemically important bank is a bank whose systemic risk profile is deemed to be of such importance that the bank’s failure would trigger a wider financial crisis and threaten the global economy.
SEBI sets up panel to review margins on derivatives The Securities and Exchange Board of India (SEBI) has set up a panel to review margins on derivatives. The SEBI has set up a working group to review the current framework of margins in the futures and options segment and submit its recommendations to the Secondary Market Advisory Committee. It is being setup based on the feedback that the existing margin requirements in the derivatives segment is pushing up cost of trading while not managing risk in the most efficient manner. The working group will be headed by NSE Clearing Ltd. NABCB secures international equivalence for personnel certification India’s national accreditation body, the National Accreditation Board for Certification Bodies (NABCB), has secured international equivalence for its accreditation programme for personnel certification bodies in the annual meeting of the Asia Pacific Accreditation Cooperation in Singapore on 20th June, 2019. NABCB signed the Mutual Recognition Arrangement (MRA) of the Asia Pacific Accreditation Cooperation (APAC) based on the international standard, ISO/IEC 17024. 12 | P a g e All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly GK Capsule 17th June to 23rd June 2019 ISO/IEC 17024 specifies criteria for the operation of a Personnel Certification Bodies (also known as a certification body for persons). Personnel Certification Bodies are the one which confirm the competence of an individual to perform a specified service (of electrician, welder etc.) or duty through an issue of a certificate. With this recognition, NABCB hopes to facilitate export of Indian services and skills into the world market by attesting that persons are certified following international standards by the certifying bodies. This would support many professionals in India, especially those who do not have formal education or certificate programme. Any person carrying ISO/IEC 17024 certificate with NABCB logo will be recognized internationally. Induslnd Bank- BFIL merger to be effective from July The merger of Induslnd Bank and Bharat Financial Inclusion Ltd (BFIL) will be effective from 4 July 2019. This decision to file National Company Law Tribunal (NCLT) Order on 4 July, by lender IndusInd BFIL and IFIL with Registrar of Companies was taken by the boards of IndusInd and BFIL. On 10 June 2019, National Company Law Tribunal (NCLT), a quasi-judicial body in India that adjudicates issues relating to Indian companies, sanctioned Scheme of Arrangement among BFIL, IndusInd and IFIL and their respective shareholders and creditors. After the merger current CEO of BFIL, M R Rao, will become the CEO of IndusInd Financial Inclusion Ltd (IFIL) and all employees of BFIL will become part of Induslnd family. The Business Correspondent (BCs) network of BFIL will operate under IFIL. All Assets and liabilities of BFIL will be merged with IndusInd’s balance sheet. The consolidated financial results for 1st quarter of FY19 will be published on 12th July 2019.
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Weekly GK Capsule 17th June to 23rd June 2019 Polity & Governance Virendra Kumar takes oath as Pro-tem Speaker of Lok Sabha Seven time Lok Sabha MP from Tikamgarh in Madhya Pradesh Virendra Kumar today took oath as Pro-tem Speaker of the Lok Sabha. President Ram Nath Kovind administered oath to Dr Kumar at Rashtrapati Bhavan. By tradition the most senior most Member of Lok Sabha (i.e. having the most experience) is appointed as Pro-tem Speaker. The President himself/herself administers the oath to him/her. He/she has all the powers of the speaker, but the main duties are: Presiding over the first sitting of the newly constituted Lok Sabha, Presiding over the election of new Lok Sabha speaker and Administering the oath of newly elected members. When the new speaker is elected by the house, the office of the speaker pro tem ceases to exist. Hence, this office is temporary office, existing for a few days. Constitutional Provisions: Article 94(2): Office of the Speaker becomes vacant immediately before the first meeting of the new Lok Sabha. Article 95(1): While the office of Speaker and deputy speaker is vacant, the duties of the office shall be performed by such member of the House of the People as the President may appoint for the purpose. PM calls meet on ‘one nation, one poll Prime Minister Narendra Modi has invited heads of all parties in Parliament to a meeting to discuss the idea of “one nation, one election”. Indian polity is perennially in an election mode. Barring a few exceptional years within a normal 5 year tenure of the Lok Sabha, the country witnesses, on an average, elections to about 5-7 State Assemblies every year. For example, besides Lok Sabha elections in 2014, polls to about 15 State Assemblies were held during March 2014 – May 2016. Add elections to the third tier of Government, bye-elections etc., and the number of elections in any given year would increase substantially. In this background, Law commission in its 170th report remarked that the holding of a separate election to a Legislative Assembly should be an exception and not the rule. The rule ought to be one election once in five years for Lok Sabha and all the Legislative Assemblies. Om Birla elected Lok Sabha Speaker unopposed BJP MP from Kota, Om Birla has been unanimously elected as the Speaker of 17th Lok Sabha. Election of Speaker:
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Weekly GK Capsule 17th June to 23rd June 2019 In the Lok Sabha both Presiding Officers—the Speaker and the Deputy Speaker- are elected from among its members by a simple majority of members present and voting in the House. As such, no specific qualifications are prescribed for being elected the Speaker. The Constitution only requires that Speaker should be a member of the House. Term of Office: The Speaker holds office from the date of his election till immediately before the first meeting of the Lok Sabha after the dissolution of the one to which he was elected. He is eligible for re-election. On the dissolution of the Lok Sabha, although the Speaker ceases to be a member of the House, he does not vacate his office. The Speaker may, at any time, resign from office by writing under his hand to the Deputy Speaker. The Speaker can be removed from office only on a resolution of the House passed by a majority of all the then members of the House. President Addresses Joint Sitting of Parliament President of India recently addressed the joint sitting of both the houses of Parliament. It was the first time he addressed the newly elected 17th Loksabha. All executive power is vested in the President of India. The Council of Ministers headed by the Prime Minister aids and advises the President who exercises his powers in accordance with such advice. Constitutional Provision: Article 87 of the constitution provides two instances when the President specially addresses both Houses of Parliament. The President of India addresses both the Rajya Sabha and the Lok Sabha at the beginning of the first Session after each general election when the reconstituted lower house meets for the first time. The President also addresses both the houses at the beginning of the first session of each year. The President’s speech essentially highlights the government’s policy priorities and plans for the upcoming year. The address provides a broad framework of the government’s agenda and direction. Only one in four received PM-KISAN money While the Union government has expanded the PM-KISAN scheme to all farmers with great fanfare, only one in four of the intended beneficiaries have received income support from the scheme so far, Agriculture Minister Narendra Singh Tomar told the Rajya Sabha. With a long verification process delaying payments, the Centre has now announced that farmers will get benefits retrospectively from the time their names are uploaded in the database, rather than from the time their details are verified. The Pradhan Mantri Kisan Samman Nidhi Scheme, announced in the last interim budget of the previous government, provides an annual sum of ₹6000 to land-owning farmers in 15 | P a g e All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly GK Capsule 17th June to 23rd June 2019 three instalments of ₹2,000 each. The new government has extended the scheme to larger farmers, raising the total number of beneficiaries to 14.5 crore families. So far, 3.29 crore farmers have received the first instalment, while 2.85 crore beneficiaries have received the second, according to the data Mr. Tomar provided in Parliament. In total, the Centre has disbursed ₹12,305 crore to farmers.
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Weekly GK Capsule 17th June to 23rd June 2019 Environment & Ecology Assam temple bids adieu to turtle hatchlings The Ugratara Temple, in Guwahati, Assam, organised a special darshan of 34 hatchlings of the rare black softshell turtle as these hatchlings will be reintroduced into the wild.
Scientific Name: Nilssonia nigricans. Common name: The black softshell turtle or Bostami turtle Or Mazari. IUCN conservation status: Extinct in the wild. It is a species of freshwater turtle. These turtles are called "softshell" because their shell is light and flexible. This allows them to move more easily in open water, or in muddy lake bottoms. Having a soft shell also allows them to move much faster on land than most turtles. It is found only in the ponds of some temples in Assam and Bangladesh (Chittagong and Sylhet). India to host UN meet on land degradation in September Ahead of the COP-14, Union Environment Minister Prakash Javadekar launched a flagship project, part of a larger international initiative called the Bonn Challenge, to enhance India’s capacity for forest landscape restoration (FLR). The Bonn Challenge is a global effort to bring 150 million hectares of the world’s deforested and degraded land under restoration by 2020, and 350 million hectares by 2030. The flagship project will be implemented during a pilot phase of three-and-a-half years in the five pilot states of Haryana, Madhya Pradesh, Maharashtra, Nagaland and Karnataka. This will eventually be scaled up across the country. The project will aim to develop and adapt the best practices and monitoring protocols for the country, and build capacity within the five pilot States. Union Environment Minister Prakash Javadekar also announced that India for the first time will host the 14th session of the Conference of Parties (COP-14) of the United Nations Convention to Combat Desertification (UNCCD) in September. Desertification in India:
India faces a severe problem of land degradation, or soil becoming unfit for cultivation. A 2016 report by the Indian Space Research Organisation found that about 29% of India’s land (in 2011-13) was degraded, this being a 0.57% increase from 2003-05. At the previous edition of the COP, India had committed to restore 13 million hectares of degraded and deforested land by the year 2020, and an additional 8 million hectares by 2030. Heritage site status for Coringa mangroves likely The Andhra Pradesh government has begun the process to get UNESCO’s World Heritage Site status for Godavari Mangroves at Coringa Wildlife Sanctuary, near Kakinada. Coringa Wildlife Sanctuary has the second largest stretch of mangrove forests in India with 24 tree species. 17 | P a g e All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly GK Capsule 17th June to 23rd June 2019 Now, the Andhra Pradesh government has constituted a seven-member committee for fulfilment of norms required for proposing the Godavari Mangroves (Mada forests), at Coringa, as World Heritage Site to the UNESCO. The committee will be headed by IFS officer Dr Shanti Priya Pandey. Once the Coringa sanctuary gets the heritage site tag, UNESCO will help develop tourism and protect the wildlife in the mangroves. The government has also sent a proposal to the Centre for identifying the mangroves as a Ramsar Site, a wetland site designated to be of international importance under the Ramsar Convention. The sanctuary also has an 18-km-long sand pit where olive ridley sea turtles nest from January to March every year. GM cotton: what is allowed, what farmers sowed A group of more than 1,000 farmers gathered in a village in Akola of Maharashtra to sow seeds of an unapproved, genetically modified variety of cotton, defying government regulations. The government is now investigating what was planted. About Bt cotton: Developed by: US giant Bayer-Monsanto. It involves insertion of two genes viz ‘Cry1Ab’ and ‘Cry2Bc’ from the soil bacterium Bacillus thuringiensis into cotton seeds. This modification codes the plant to produce protein toxic to Heliothis bollworm (pink bollworm) thus making it resistant to their attack. Bt cotton remains the only GM crop allowed to be cultivated in the country. The commercial release of this hybrid was sanctioned by the government in 2002. Besides Bt cotton, the GEAC has cleared two other genetically modified crops — brinjal and mustard — but these have not received the consent of the Environment Minister. A water clinic for elephants opens on the banks of the Yamuna India has opened its first specialised hydrotherapy treatment for elephants on the banks of the Yamuna in Mathura. India has opened its first specialised hydrotherapy treatment for elephants suffering from arthritis, joint pain and foot ailments. It is situated on the banks of the Yamuna in Mathura near the Wildlife SOS’ Elephant Conservation and Care Centre (ECCC). It currently houses 20 rescued elephants and is run in collaboration with the Uttar Pradesh Forest Department and the NGO Wildlife SOS. The new hydrotherapy jumbo pool is 11-foot-deep and has 21 high pressure jet sprays that create water pressure that massage the elephants’ feet and body and help in increasing blood circulation. The hospital started in 2018 already offers state-of-the-art modern facilities including wireless digital X-ray, laser treatment, dental X-ray, thermal imaging and ultrasonography to treat injured, sick and geriatric elephants. Shri RK Singh approves Dispute Resolution Mechanism for solar/wind sector
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Weekly GK Capsule 17th June to 23rd June 2019 Union Minister of State for Power and New & Renewable Energy (IC) has approved a proposal to set up a Dispute Resolution Committee (DRC) for solar/wind sector. A three member DRC will be set up consisting of eminent persons of impeccable integrity. The upper age for the DRC members shall be 70 years. The Committee members of DRC shall be chosen from the eminent persons located in NCR of Delhi so as to avoid expenditure on Air Travel & accommodation. To consider the unforeseen disputes between solar/wind power developers and SECI/NTPC, beyond contractual agreement. The mechanism of DRC will be applicable for all solar/ wind Schemes/ Programmes/ Projects being implemented through/ by SECI/ NTPC. The DRC will consider following kinds of cases:
All cases of appeal against decisions given by SECI on Extension of Time requests based on terms of contract. All requests of Extension of Time not covered under the terms of contract. The recommendations of the DRC along with Ministry of New & Renewable Energy (MNRE) observations, will be placed before Minister (NRE) for final decision. The move will give further fillip to the smooth implementation of solar/wind energy projects in India. Kaleshwaram — the making of an engineering marvel The Kaleshwaram lift irrigation project is aimed to make Telangana drought proof by harnessing the flood waters of the Godavari. The project is an under-construction multi- purpose irrigation project on the Godavari River in Kaleshwaram, Bhoopalpally, Telangana. The project starts at the confluence point of Pranahita River and Godavari River. Pranahita River is a confluence of various other smaller tributaries like Wardha, Penganga and Wainganga Rivers. The Godavari is India's second longest river after the Ganga. Its source is in Trimbakeshwar, Maharashtra. It flows east for 1,465 kilometres, draining the states of Maharashtra, Telangana, Andhra Pradesh, Chhattisgarh, Odisha, and Karnataka, ultimately emptying into the Bay of Bengal through its extensive network of tributaries. The Kaleshwaram project will support Mission Kakatiya and Mission Bhagiratha schemes designed to provide drinking water to many villages and improve the capacities of tanks. Jumbo ‘yatra’ comes in for flak An animal rights group filed a PIL petition in the Gauhati High Court challenging the Assam government’s decision to transport four juvenile elephants in railway wagons to Ahmedabad in Gujarat for the annual Rath Yatra festival at the Jagannath temple on July 4. The decision of the State government is in violation of the relevant provisions of the Wildlife (Protection) Act, 1972.
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Weekly GK Capsule 17th June to 23rd June 2019 The Indian elephant is a Schedule-I animal under the Wildlife (Protection) Act, 1972, and Section 9 of the Act prohibits their capture from the wild. Capturing of wild elephants is permitted only under very limited circumstances as provided in Section 11 and 12 of the Act. The dispatch of the elephants in railway wagons in the prevailing heatwave conditions in north Indian States, would subject the animals to extreme stress, pain and cruelty. National Research Centre on Litchi Director denies any link between Litchi and AES In Bihar, Director of Muzaffarpur based National Research Centre on Litchi (NRCL) Vishal Nath has denied any link between Litchi and Acute Encephalitis Syndrome (AES). The NRCL is premier national institute for conducting research and developments on litchi. It also acts as a national repository of information on litchi production, processing, value addition, and provides consultancy services to end users. It was established in 2001 during IXth Plan. The Centre started functioning from 2002. It was established by Ministry of Agriculture under the aegis of Indian Council of Agricultural Research (ICAR). The Centre is located at Mushahari in Muzaffarpur, Bihar. At present, the area of Litchi under cultivation is 84,000 hectares and production is 594,000 metric tonnes (NHB, 2015). Bihar, West Bengal, Assam and Jharkhand accounts for 78% of the total production in the country. Bihar produces 40% of total litchi and occupies nearly 38% of the area in India. Govt set up 713 Krishi Vigyan Kendras to double farmers' income by 2022 The Government of India has set up 713 Krishi Vigyan Kendras (KVKs) at the district level in the country for dissemination of technologies among the farming community to double the farmers' income by 2022. The KVK scheme is functioning on 100% Central funding pattern under the ambit of the Indian Council of Agricultural Research (ICAR), Department of Agricultural Research and Education (DARE). Activities undertaken by KVKs include on-farm testing of technologies and demonstrations, capacity development of farmers and extension personnel and functioning as a knowledge and resource centre of agricultural technologies. The May 2018, Union Cabinet approved that following special programmes shall be initiated through the KVK Scheme:
A Network Project on New Extension Methodologies and Approaches; Nutri-sensitive Agricultural Resources and Innovations (NARI); Programs tilted Knowledge Systems and Homestead Agriculture Management in Tribal Areas (KSHAMTA), Value Addition and Technology Incubation Centres in Agriculture (VATICA), Farm Innovation Resource Management (FIRM) Establishment of Agricultural Technology Information Centre. 20 | P a g e All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly GK Capsule 17th June to 23rd June 2019 National News ICANN partners NASSCOM to develop tech, standards for IoT devices Global internet body Internet Corporation for Assigned Names and Numbers(ICANN) and Indian IT industry body NASSCOM to develop identifier technology that can be used for managing devices and infrastructure using the internet. Both the bodies will first focus on updating the Internet of Things (IoT) devices using domain name system (DNS) even in the situation when the manufacturer or supplier has closed down the business. This collaboration provides a structure to jointly identify research projects, particularly in new technologies related to the internet's system of unique identifiers. The first research project focuses on testing the use of the DNS to update IoT firmware and studying how the proposed technology could scale outside a lab environment. National Association of Software and Services Companies (NASSCOM) NASSCOM, a not-for-profit industry association, is the apex body for the IT industry in India. Established in 1988, NASSCOM’s relentless pursuit has been to constantly support the IT and BPO industry. Members of NASSCOM are Indian Co software development, software services, IT- enabled/BPO services. NASSCOM role has primarily been to make sure that service quality and enforcement of Intellectual Property Rights have been properly implemented in the Indian software and BPO industry. ADB approves Rs 1,650 cr infra projects in Tripura The Asian Development Bank (ADB) has approved projects for infrastructure development worth Rs 1,650 crore ($235 million) in seven of the eight districts headquarter towns in Tripura. The ADB would give 80% of the amount as grant-in-aid and the Tripura Government would have to repay back only 20% loan in due course of time. The ADB established on 19th December 1966. Takehiko Nakao is the president of ADB. Om Birla elected Lok Sabha Speaker unopposed BJP MP from Kota, Om Birla has been unanimously elected as the Speaker of 17th Lok Sabha. Election of Speaker:
In the Lok Sabha both Presiding Officers—the Speaker and the Deputy Speaker- are elected from among its members by a simple majority of members present and voting in the House. As such, no specific qualifications are prescribed for being elected the Speaker. The Constitution only requires that Speaker should be a member of the House.
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Weekly GK Capsule 17th June to 23rd June 2019 Term of Office:
The Speaker holds office from the date of his election till immediately before the first meeting of the Lok Sabha after the dissolution of the one to which he was elected. He is eligible for re-election. On the dissolution of the Lok Sabha, although the Speaker ceases to be a member of the House, he does not vacate his office. The Speaker may, at any time, resign from office by writing under his hand to the Deputy Speaker. The Speaker can be removed from office only on a resolution of the House passed by a majority of all the then members of the House.
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Weekly GK Capsule 17th June to 23rd June 2019 International News High Commissioner Riva Ganguli Das inspects construction of Feni Bridge High Commissioner of India to Bangladesh inspected the ongoing construction of the Feni Bridge. Feni Bridge is known as Maitree Setu in Chattogram. The bridge is being built over the Feni River and will connect Tripura with Chittagong port of Bangladesh. The foundation of the bridge was laid in 2015 jointly by Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina. The project is scheduled to be completed by April next year. The bridge is being constructed by the National Highways Infrastructure Development Corporation Ltd of Ministry of Road and Transport highways, Government of India. It is being developed as a corridor for trade and commerce between India's North-East and Bangladesh. It will provide direct road connectivity between South Tripura and Chittagong allowing India to use Chittagong as a “port of call" and promoting trade, tourism and people-to-people ties. The bridge will facilitate carrying of heavy machines and goods to and from the north-eastern states and the rest of India via Bangladesh through Chattogram. FACEBOOK ANNOUNCES CALIBRA, A DIGITAL WALLET FOR ITS LIBRA CRYPTOCURRENCY Facebook has unveiled its own cryptocurrency named “Libra”. Based on the Libra Blockchain, it’s backed by the Libra Reserve. It has also officially announced a digital wallet service named Calibra. The company managing this wallet is going to be a subsidiary and will be operating independently from Facebook. Calibra is going to be available as a standalone app on the App Store and Play Store. Apart from that, users can also use Libra within Facebook’s own messaging apps including WhatsApp and Messenger, making it much more accessible. The name is inspired by the origins of money in Ancient Rome, where the Libra was a unit of weight used to mint coins. The new crypto’s symbol, a wave, “represents the energy that flows between us, the borderless nature of water, and the movement between people, places, and money. Thousands protest against the Guthi Bill in Kathmandu In Nepal, thousands of people came onto roads in capital Kathmandu demanding the government to scrap the controversial “Guthi Bill”. Guthis are socio-economic institutions (trusts), both public and private, that fund their obligations from incomes from cultivated or leased land assets.
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Weekly GK Capsule 17th June to 23rd June 2019 Depending on their obligations, Guthis fulfil religious, public service or social roles and could either involve members from a common lineage, or several. Guthi Bill: The Government of Nepal had tabled the Guthi Bill in National Assembly, the Upper House of Parliament in April to amend Guthi Act and nationalise both public and private Guthis or trusts and regulate all religious sites under a powerful commission. The ethnic Newar community members claim that the bill had provisions in favour of land mafias and could be a threat to the centuries-old culture and traditions of Nepal. Though the Guthi Bill was withdrawn by the Ministry of Land Management, Cooperatives and Poverty Alleviation recently, but protesters are demanding that it should be completely scrapped. WHO offers a new tool for action against antimicrobial resistance WHO offers a new tool "AWaRe" to contain rising antimicrobial resistance and make antibiotic use safer and more effective AWaRe classifies antibiotics into three groups: "Access" specifies which antibiotics to use for the most common and serious infections. "Watch" specifies which ones should be available at all times in the healthcare system. "Reserve" are those that must be used sparingly or preserved and used only as a last resort. WHO Headquarters: Geneva, Switzerland; Director General: Tedros Adhanom. FATF warns Pak., but keeps it off the blacklist Watchdog urges the country, which is still on the greylist, to finish the stipulated action plan by Oct. Pakistan has avoided being placed on the Financial Action Task Force (FATF) blacklist during the multilateral financial watchdog’s plenary meetings in Orlando, Florida held from June 16 to 21. However, the country, which continued to remain on a greylist, was given a warning at the end of the plenary session and told that it lacked a proper understanding of transnational terrorist financing. The mention of transnational terrorist financing is significant in light of India’s efforts to isolate Pakistan on the international stage in the context of its support for terror in Kashmir. The FATF expresses concern that not only did Pakistan fail to complete its action plan items with January deadlines, it also failed to complete its action plan items due May 2019. The FATF strongly urges Pakistan to swiftly complete its action plan by October 2019 when the last set of action plans are set to expire. To stay off of the FATF blacklist, the support of at least three of a total of 36 (excluding two regional organisations) FATF members is required. Fifteen members need to support a country’s move off of the greylist FATF warns Pak to complete action plan on terror financing by October 2019
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Weekly GK Capsule 17th June to 23rd June 2019 Saudi Arabia has become the first Arab country to be granted full membership of the Financial Action Task Force (FATF). Saudi Arabia had obtained observer status in the Group in 2015. The FATF is the global standard-setting body for anti-money laundering and combating the financing of terrorism (AML/CFT). To set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Financial Action Task Force (FATF) Established in: 1989. Headquarters: Paris, France. President: Marshall Billingslea The FATF currently comprises 37-member jurisdictions and 2 regional organisations (the Gulf Cooperation Council or GCC, and the European Commission). While India, Russia and China are members, Pakistan is only an associate member of Asia Pacific Group-FATF.
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Weekly GK Capsule 17th June to 23rd June 2019 Social Issues 9.7 billion on Earth by 2050, but growth rate slowing, says new UN population report According to ‘The World Population Prospects 2019’ published by the Population Division of the UN Department of Economic and Social Affairs, India is projected to surpass China as the world’s most populous country by 2027. Through the end of the century (between 2019 and 2050) India (with an estimated population of 1.37 billion) is expected to remain the world’s most populous country, followed by China, Nigeria, United States of America, and Pakistan. The global population is projected to increase by another 2 billion people by 2050. Aging of the world's population will also spike due to increasing life expectancy and falling fertility levels. By 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Aging will result in a decline in the proportion of the working age population that in turn will exert pressure on social security systems. Europe and North America will have a much higher number of aging population. Many countries are experiencing a reduction in population size (between 2019 and 2050, many countries will experience populations shrink by at least 1%). Populations shrink can be attributed to sustained low levels of fertility and, in some cases, high rates of emigration. In countries like Bangladesh, Nepal and the Philippines out-migration plays a key in population change (outflow of migrant workers). Uptick for India on sanitation in UN report A Joint Monitoring Programme report titled, “Progress on drinking water, sanitation and hygiene: 2000-2017: Special focus on inequalities”, was released by the United Nations Children’s Fund (UNICEF) and the World Health Organization (WHO). Global scenario:
Since the turn of the century, 1.8 billion people have gained access to basic drinking water services, but vast inequalities in accessibility, availability and quality prevail. Some 2.2 billion people around the world do not have safely-managed drinking water, while 4.2 billion go without safe sanitation services and three billion lack basic handwashing facilities. Indian scenario:
India is responsible for almost single-handedly dragging the world towards achieving Sustainable Development Goal of ending open defecation. India accounts for almost two thirds of the 650 million people globally who stopped practising open defecation between 2000 and 2017. India has increased the percentage of its population with access to a protected drinking water source less than 30 minutes away, from 79% in 2000 to 93% in 2017. 26 | P a g e All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly GK Capsule 17th June to 23rd June 2019 However, the percentage of households getting piped water has remained stagnant at 44% over the 17-year period. Bhubaneswar becomes 0.5 degree C hotter due to urbanisation A recent study by researchers at the Indian Institute of Technology (IIT) Bhubaneswar has documented how urbanisation of cities in the last decade can sharply increase the local temperature. The local surface temperature in large cities in Odisha — Cuttack and Bhubaneswar — has increased by as much as 40-50% during the period 2001-2010. While temperature has increased by about 0.9 degree C due to regional warming, which is a global phenomenon, urbanisation or changes in land use and land cover alone has contributed 40-50% of that increase in these cities. In other words, there has been a 0.5 degree C increase in absolute local temperature in large cities in the State during the period 2001 to 2010 solely due to urbanisation. The rapid increase in urbanisation was at the cost of dense vegetation and crop fields. While dense vegetation reduced by 89%, crop fields shrunk by 83%. Rajasthan nod to Ayushman Bharat The Rajasthan government has given an official go-ahead to implement the Central government’s flagship health insurance scheme, Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). AB-PMJAY will be integrated with Rajasthan’s existing state health scheme, Bhamashah Swasthya Bima Yojana (BSBY). Rajasthan is currently providing benefits to 97 lakh families under the BSBY scheme, and many of the eligible families under AB-PMJAY are already covered under BSBY. All eligible families will be made eligible to avail health benefits up to ₹5 lakh per year under the scheme. This leaves only Delhi, Telangana, Odisha and West Bengal out of the scheme.
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Weekly GK Capsule 17th June to 23rd June 2019 Defence & Security Operation Bandar': IAF's code name for Balakot air strikes The air strike by the Indian Air Force (IAF) on a terrorist training camp in Balakot, Pakistan, was code-named ‘Operation Bandar (monkey)’. Operation Bandar (monkey) was the code-name given by IAF to the air strikes conducted by its Mirage-2000 fighters against the major Jaish-e-Mohammed training facility at Balakot in Pakistan on February 26, in response to the Pulwama terror attack which claimed the lives of 40 security personnel. The idea behind the name 'Operation Bandar’ was to give a nondescript, mundane tag to the air strikes to maintain operational secrecy. It was chosen to make it sound like a routine, small-time affair. The Army, in turn, code-named its heightened operational alert and shoring up of defences along the border to thwart a possible Pakistan retaliation to the air strikes as “Operation Zafran" (saffron flowers used in cooking). The Navy, however, did not give any specific name to the deployment of its warships and submarines in the north Arabian Sea because they were already there as part of Tropex-2019 (theatre level operational readiness exercise) underway at that time. Persian Gulf on boil, Navy starts escorting Indian merchant ships The Indian Navy has launched Operation Sankalp in the Persian Gulf/Gulf of Oman. The Indian Navy has launched Operation Sankalp in the Persian Gulf/Gulf of Oman to re- assure Indian flagged vessels transiting through the area following the recent maritime incidents in the region. INS Chennai and INS Sunayna have been deployed in the Gulf of Oman and the Persian Gulf to undertake maritime security operations. While the INS Chennai is a destroyer, the INS Sunayna is an offshore patrol vessel. The Information Fusion Centre-Indian Ocean Region, which was inaugurated by the Navy in December 2018 at Gurgaon, was also monitoring the movement of ships in the Gulf region. India’s strategic and security interests are closely linked to the Indian Ocean Region. The country’s energy security is also linked to the safety and security of ships while operating and transiting in the Gulf of Oman and the Persian Gulf.
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Weekly GK Capsule 17th June to 23rd June 2019 Facts of the Week Important Days World Day to Combat Desertification and Drought being observed today World Day to Combat Desertification and Drought is being observed on June 17, 2019 with the theme “Let's grow the future together”. The day is observed every year on June 17, 2019. Objective of the day: To promote public awareness of international efforts to combat desertification. This year, the United Nations Convention to Combat Desertification (UNCCD) celebrates the 25 years of progress made by countries on sustainable land management. Desertification according to United Nations: Desertification is the degradation of land in arid, semi-arid and dry sub-humid areas. Desertification does not refer to the expansion of existing deserts. It is caused primarily by human activities and climatic variations. It occurs because dryland ecosystems, which cover over one third of the world‘s land area, are extremely vulnerable to overexploitation and inappropriate land use. According to United Nations, every year, the world loses 24 billion tons of fertile soil and dryland degradation reduces national domestic product in developing countries by up to 8 % annually. Goal 15 of the 2030 Agenda for Sustainable Development states our resolve to halt and reverse land degradation. Autistic Pride Day observed today Autistic Pride Day is being observed on June 18, 2019 to recognise the importance of pride for autistics. It was initiated by Aspies For Freedom, a group that raises public awareness about autism rights. Autism spectrum disorders (ASD) are a group of complex brain development disorders. This umbrella term covers conditions such as autism and Asperger syndrome. These disorders are characterized by difficulties in social interaction and communication and a restricted and repetitive repertoire of interests and activities. Around 50% of persons with ASD also suffer from an intellectual disability. It is a lifelong condition which usually occurs in the first three years of life. Cause: Various factors, both genetic and environmental, contribute to the onset of autism spectrum disorders by influencing early brain development. According to WHO, there is no evidence of a link between measles-mumps-rubella (MMR) vaccine and autism spectrum disorders. Previous studies suggesting a causal link were found to be seriously flawed.
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Weekly GK Capsule 17th June to 23rd June 2019 According to WHO estimates, 1 child in 160 has an autism spectrum disorder. This is an average figure, and reported prevalence varies substantially across studies. World Refugee Day being observed today World Refugee Day is being observed on 20th of June with the theme “Step with Refugees - Take a Step on World Refugee Day”. Key statistics: According to the latest annual study released by the office of the UN High Commissioner for Refugees, 70.8 million children, women and men were forcibly displaced at the end of last year. This is the highest number in the organization’s almost 70-year history. Wars, violence and persecution have driven record numbers of people from their homes worldwide. Almost two thirds of those uprooted from their homes are internally displaced people who have not left their homelands. About 80 percent of these refugees live in countries neighbouring their country of origin. Yoga Day Live Updates: 40,000 join PM Modi in Ranchi, 300 camps in Delhi The fifth annual International Yoga Day will be observed on June 21. June 21 is observed as International Day of Yoga every year since the United Nations declared it in 2015. The idea of International Day of Yoga was first proposed by Prime Minister Narendra Modi during his speech at the UN General Assembly (UNGA), on September 27, 2014. United Nations proclaimed June 21 as the International Day of Yoga. International Yoga Day 2019 The theme for fifth International yoga 2019 day declared by Ministry of Ayush is 'Yoga for Heart.' Jharkhand's capital Ranchi will be hosting the main yoga day event. International yoga day coincides with the summer solstice. Yoga is inscribed in the list of UNESCO Intangible Cultural Heritage of Humanity of India. Appointments Lt. Gen. Faiz Hameed is new ISI chief Pakistan appointed Lieutenant General Faiz Hameed as new chief of the Inter-Services Intelligence (ISI) spy agency. Lieutenant General Faiz Hameed, a former senior ISI figure, was appointed Director- General of the powerful ISI spy agency, replacing its current head, Lieutenant General Asim Munir, after only eight months on the job. He is said to be a hard-liner. Activists allege a pattern of growing authoritarianism by the military, which they say has become even more influential since Prime Minister Imran Khan came to power last year.
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Weekly GK Capsule 17th June to 23rd June 2019 The Army is arguably the most influential institution in Pakistan, with the military having ruled the country for nearly half of its 71-year history since independence from Britain and enjoying extensive powers even under civilian administrations. The head of the ISI occupies one of the most important posts. The agency has long been accused of supporting Islamist militants targeting neighbour India as well as sheltering the Afghan Taliban and other militants. Denmark’s Inger Andersen takes over as UNEP’s Executive Director Denmark’s Inger Andersen recently took charge as the new Executive Director (ED) of United Nations Environment Programme (UNEP). She will hold the designation for period of 4 years. Inger is a Danish economist and environmentalist with over 30 years of experience in international development economics, environmental sustainability and policy making. Slovakia swears in first woman president Caputova In Slovakia, anti-corruption campaigner Zuzana Caputova was sworn in as country's first female president. Caputova scored a convincing victory against Smer-SD candidate Maros Sefcovic. Her allies from the Progressive Slovakia/Together party hope to use the momentum to unseat the ruling party in a 2020 general election. Slovakia is a landlocked country in Central Europe. Bratislava is the capital of Slovakia. Euro is official currency in Slovakia. RBI gets a new executive director Dr. Rabi N. Mishra has been elevated from principal chief general manager to Executive Director in the Reserve Bank of India. Mishra's portfolio now includes non-banking and Co-op bank supervision as well as the College of Supervisors. Current strength of Executive directors in RBI is 12. Shefali Juneja appointed India’s representative to ICAO’s council Senior bureaucrat Shefali Juneja was appointed as representative of India (JS Level) in council of International Civil Aviation Organisation (ICAO), Montreal, Canada. She is a 1992 batch officer of Indian Revenue Service (Income Tax cadre) and is currently serving as the Joint Secretary in Ministry of Civil Aviation. International Civil Aviation Organisation is a specialized agency of United Nations, charged with coordinating and regulating international air travel. ICAO was established in 1944 by Convention on International Civil Aviation (Chicago Convention). It is headquartered in Quartier International of Montreal, Quebec, Canada. Awards Akshaya Patra wins BBC award
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Weekly GK Capsule 17th June to 23rd June 2019 Akshaya Patra, a non-profit organization, has been awarded the BBC World Service Global Champion Award. It runs one of the world’s largest school meals project in India. Miss India World 2019: Rajasthan’s Suman Rao crowned Suman Rao from Rajasthan won the Femina Miss India World 2019 beauty pageant during a ceremony held at Sardar Vallabhbhai Patel Indoor Stadium in Mumbai. She was crowned as Miss India 2019 by her predecessor Miss India 2018, Tamil Nadu’s Anukreethy Vas. Suman has now become 56th Miss India. She will next represent India at Miss World 2019 in Pattaya, Bangkok in Thailand on December 2019. 44th Matri Shree Media Awards Twenty-nine journalists from print and electronic media and a social activist felicitated with the Bharat Mata Shield at the 44th Matri Shree Media Award ceremony. The Matri Shree Media Awards was constituted during the Emergency to felicitate people for their contribution towards journalism. The first award was presented to journalist Lala Jagat Narayan. PM’s Awards for Outstanding Contribution for Promotion & Development of Yoga 2019 announced Prime Minister’s Awards for outstanding contribution for Promotion and Development of Yoga - 2019 has been announced. On the occasion of the 2nd International Day of Yoga celebrations at Chandigarh, the Prime Minister had announced the institution of awards for the promotion and development of Yoga. The award is given for outstanding contribution for promotion and development of Yoga. The winners will be felicitated with of a Trophy, Certificate and a Cash Award of 25 lakh rupees each. Ayush Ministry in a release said, Swami Rajarshi Muni of Life Mission, Gujarat, Ms. Antonietta Rozzi of Italy, Bihar School of Yoga, Munger and Japan Yoga Niketan, Japan are the recipients of the Award. Indian engineer wins Innovation Award in UK Nitesh Kumar Jangir, an Indian engineer has won the 2019 Commonwealth Secretary General's Innovation for Sustainable Development Award in the “People” category in London. Nitesh Kumar Jangir created Saans, a breathing support device to tackle avoidable deaths of premature babies from respiratory distress syndrome. Events G20 agrees to tackle ocean plastic waste
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Weekly GK Capsule 17th June to 23rd June 2019 During the two-day ministerial meeting in Karuizawa, Japan, Group of 20 Environment Ministers agreed to adopt a new implementation framework for actions to tackle the issue of marine plastic waste on a global scale. This comes in the aftermath of images of plastic debris-strewn beaches and dead animals with stomachs full of plastic sparking outrage with many countries banning plastic bags outright. The new framework is aimed at facilitating further concrete action on marine waste, though on a voluntary basis, after the G20 Hamburg Summit in Germany adopted the “G20 action plan on marine litter” in 2017. Under the new framework, G20 members will promote a comprehensive life-cycle approach to prevent and reduce plastic litter discharge to the oceans through various measures and international cooperation. They will also share best practices, promote innovation and boost scientific monitoring and analytical methodologies. Japan plans to host the first meeting under the new framework this autumn when officials of environment ministers in the G20 countries are due to meet for the G20 Resource Efficiency Dialogue. Namaste Thailand film festival concludes in New Delhi Namaste Thailand Film Festival, a two day event was held in Delhi from 15 June to 16 June 2019. This year was the 3rd edition of Thai film extravaganza event that celebrates Thai Culture’s Diversity. The Namaste Thailand film festival is an annual festival that is held with the aim of celebrating uniqueness and diversity of Thai culture. It was organised by Royal Thai Embassy and was inaugurated by Mr. Chutintorn Gongsakdi, Ambassador of Thailand to India. Diamond Jubilee of the Oldest Naval Air Squadron Indian Navy's first Naval Air Squadron 550 celebrated its Diamond Jubilee at naval base Kochi after Completing 60 glorious years of yeoman service to the nation. The squadron has flown 14 different types of aircraft starting with the Sea land Aircraft to the Dornier maritime reconnaissance aircraft being presently flown. ICG co-hosts 12th ReCAAP ISC capacity building workshop Indian Coast Guard (ICG) co-hosts 12th Capacity Building workshop with Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre (ISC) in New Delhi. The ReCAAP is the first regional Government-to-Government agreement to deal with piracy and armed robbery at sea in Asia. Presently 20 countries are members of ReCAAP. India played an active role in the setting up and functioning of ReCAAPISC along with Japan and Singapore. Fourth edition of National Yoga Olympiad of school children organized by NCERT begins in New Delhi The Fourth edition of National Yoga Olympiad of school children began in New Delhi.
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Weekly GK Capsule 17th June to 23rd June 2019 The three day National Yoga Olympiad of school children is being organized by National Council of Educational Research and Training (NCERT). It was first started in the year 2016. Yoga has found an important place in the school curriculum as a part of Health and Physical Education. Objective of this Olympiad is to create awareness about a scientific and holistic way of living. This year 567 students from 33 States/UTs including CBSE, KVS and NVS and 4DMS of RIEs of NCERT are participating in the Olympiad. For the first time, the competition includes entries from CBSE, KVS and NVS. From Japan, a museum of peace built on memories of WWII Japan gifted Manipur a museum of peace to mark the 75th anniversary of the Battle of Imphal, one of the fiercest battles of the Second World War. The Imphal Peace Museum was inaugurated at Red Hill, about 20 km southwest of Manipur’s capital Imphal. The museum is funded by the Nippon Foundation. Some 70,000 Japanese soldiers, alongside those of Subhash Chandra Bose’s Indian National Army, died in battles with the British-led Allied forces in areas around Imphal and Kohima from March to June 1944. The last of these battles was fought at Red Hill, where the Japanese War Memorial was built in 1994 to mark the 50th anniversary of the battle. Important Person Noted mridangam exponent Thanjavoor Ramamoorthy passes away in Trichy Noted mridangam exponent Thanjavoor Ramamoorthy passed away in Trichy, Tamil Nadu at the age of 90. He had the unique distinction of having accompanied four generations of Carnatic stalwarts starting from violin genius Muringapuri Gopalakrishna Iyer, right up to renowned vocalist ML Vasanthakumari. He was the recipient of the Kalaimamani award of the Government of Tamil Nadu. Sports India static at 101st in FIFA rankings The Indian football team remained static at 101st place in the FIFA rankings. India had finished third in the King’s Cup in Thailand. The Indian team is at 18th spot among the Asian countries led by Iran (20th), Japan (28), Korea (37), Australia (43) and Qatar (55) form the top five in Asia. Belgium continued to top overall world rankings, followed by France, Brazil, England, and Portugal. US Open 2019: Gary Woodland wins first major after holding off Brooks Koepka
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Weekly GK Capsule 17th June to 23rd June 2019 Gary Woodland won 119th US Open Golf tournament after beating Brooks Koepka. Woodland held off a charge from Brooks Koepka and Justin Rose — combined majors: 5 - and clinched the victory at one of golf’s iconic venues. Needing only a bogey at 18 to win, Woodland drained a 30-foot putt for birdie to seal the win by three strokes and end Koepka’s two-year reign. Joshna Chinappa wins record 17th National Title in Squash
Joshna Chinappa made a record for the most number of national titles after beating her Tamil Nadu state-mate Sunayna Kuruvilla. Joshna broke an age-old landmark set by Bhuvneshwari Kumari who held the record for 27 Years winning consecutive titles from 1976 to 1991. Rashid Khan becomes most expensive bowler in World Cup history Afghanistan leg spinner Rashid Khan recorded the worst bowling figures in ICC World Cup Match after conceding 110 runs in 9 overs against England. Previous record of conceding 105 runs in 12 overs was held by New Zealand's Martin Snedden.
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