Current affair 31st December 2013

Veteran actor Farooq Sheikh passed away

Noted veteran actor Farooq Sheikh (65) passed away in Dubai.

Farooq Sheikh:

Born: March 25, 1948

He started his career in acting in Bollywood in 1973 with the film Garm Hava and gained accolades for his roles in movies like Shatranj Ke Khiladi, Chashme Buddoor, Kissi Se Na Kehna, Noorie. He played the role of a father in Ranbir Kapoor starring film Yeh Jawaani Hai Deewani released this year (2013).

Last Film: Club 60 which released in December 2013

Guardian’ – Microsoft launched new app for women’s safety

The technology giant Microsoft launched a new application (app) ‘Guardian’ with safety features, exclusively for Windows phone users in India. It builds up this app, chiefly to protect women from incidents such as ‘Nirbhaya’.

About the app ‘Guardian’

Uses Microsoft Windows Azure cloud solution and the Bing Maps API and allow anyone we wish to track our movements. This can be done by switching on the “track me” feature.

Users will be able to place a call for help through an ‘SOS’ alert button and also connect to security agencies, police and hospitals easily via this app in times of crisis.

Helps women in distress by alerting their friends, families, as well as it is available as an integrated solution for Police or security agencies, which can monitor distress SOS calls and provide help through a portal.

The app allows us to add multiple buddies who will be alerted in emergency situations. It will let them opt out in case they’re not so willing to take our SOS call.

The SOS messages will continue to go out even if our phone is destroyed. The best bit is that the SOS button can also send emails and post to private Facebook groups. The application is capable of one touch video recording that may be used as evidence. 

Note: The app developed by a group of Microsoft India employees in India inside the Microsoft Garage. Microsoft Garage is a global employee innovation initiative that gives Microsoft employees an outlet to explore ideas in their free time.

PNB opens first hi-tech branch of Punjab in Kharar

Punjab National Bank (PNB) which is India’s second-largest bank opened its first hi-tech branch at Kharar, Punjab.

Salient features of the first hi-tech branch

The self-services system of the branch would provide all services to all the customers from 7am to 11pm daily.

This would be done through automated machines for cash deposit, cheque deposit, cash withdrawal and passbook updating machine.

To educate and aware the customers about the hi-tech systems and their usage, a special counter has been established at the bank branch.

In order to ensure foolproof security of its ATMs, the bank has adopted these securities measure, which are under e-surveillance system.

Cabinet approves constitutional status for JAC

The Union Cabinet approved constitutional status to a proposed Judicial Appointments Commission (JAC), for the appointment and transfer of judges to the higher judiciary. In other words, the cabinet approved a constitution amendment bill to make the appointment /transfer of judges more transparent. The status ensures that the composition of the commission cannot be altered through an ordinary legislation and it would require an amendment in the Constitution to do so.

Presently, the composition of the proposed panel is defined in the JAC Bill, 2013 which was introduced along with a separate constitutional amendment bill in Rajya Sabha during the monsoon session. There were demands that the composition as well as the functions of the proposed JAC must be mentioned in the Constitution as a precaution against future changes.

The JAC Bill defines the establishment of the proposed body to recommend appointment and transfer of judges of the Supreme Court and the high courts. Excerpts of the Judicial Appointments Commission (JAC) Bill, 2013 –

The new Article 124 A of the Constitution will define the composition of the JAC and Article 124 B will define its functions.

The JAC will be headed by the CJI and have five other members, including the Law Minister and two eminent persons.

To appoint the two eminent persons for the appointments commission would be done by the collegium that will include the Prime Minister of India, the Leader of Opposition and the Chief Justice of India.

Functions viz. recommending names for appointment as judges of the Supreme Court, Chief Justices of High Courts and judges of High Courts; recommending transfer of Chief Justices of High Courts and judges of High Courts, etc. 

Note: A parliamentary standing committee which examined the Judicial Appointments Commission (JAC) Bill, 2013 also made a similar recommendation.

Current Affairs 27th December 2013

Michiaki Takahasi: Developer of chickenpox vaccine passed away

Dr. Michiaki Takahashi (85),  a Japanese virologist, who developed a vaccine for the chicken pox virus passed away. Dr. Takahashi developed his vaccine by growing live but weakened versions of the virus in animal and human cells. The disease was not sourced by the vaccine, but the vaccine encouraged immune system to create antibodies. Thus, it fools the immune system into thinking that it has seen this disease before.

About Chicken Pox

• Caused by the Varicella-Zoster Virus (VZV) which is a form of herpes.
• Highly contagious disease that is spread via contact with infected person.
• Symptoms: rashes in the body, fever, loss of appetite, headache and tiredness.
• It’s most common in kids under age 12, but anyone can get chickenpox.

Chickenpox is caused by the varicella-zoster virus, a form of herpes. If a person contracts the virus, has an active infection and then recovers, the virus is not actually gone from the body. It can hide in nerve cells for years or decades, then emerge again to cause shingles, a painful condition that causes a skin rash and occurs mostly in adults.

Defense Ministry clears procurement proposals worth over Rs 16000 cr

The Defense Ministry cleared procurement proposals worth over Rs.16, 000 crore including that of Israeli Barak missiles. The Ministry had put on hold procurement of Barak-I missiles because of a CBI probe in the case since 2006. The Defense Acquisition Council (DAC) headed by Defense minister AK Antony approved the proposal. The proposal is for

Acquiring two deep submarine rescue vessels for the Navy while approving the indigenous construction of the 16 anti-submarine warfare shallow water craft at the cost of Rs.13,000 crore.

262 Barak-I missiles worth Rs.880 crore, which are expected to be put on the aircraft carrier INS Virat and picked out air defense system for the new aircraft carrier INS Vikramaditya.

Aquiring 41 indigenously-built Advanced Light Helicopter Dhruvs, for the Army.

In the Rs.300 crore procurement, one of the choppers would be provided to the Navy.

Current affairs 24th December 2013

First human artificial heart transplant executed in France

An artificial heart that can give patients up to five years of extra life has been successfully implanted for the first time, at Georges Pompidou Hospital in Paris, France. The equipment designed to overcome the worldwide shortage of transplant donors was produce by French Biomedical firm Carmat, a start-up funded by the Dutch-based European Aeronautic Defense and Space Company (EADS).

About Artificial Heart

Powered by external, wearable Lithium-ion batteries.

Inside the heart, surfaces that come into contact with human blood are made partly from bovine tissue instead of synthetic materials such as plastic that can cause blood clots.

Uses a range of “biomaterials”, including bovine tissue, to reduce the likelihood of the body rejecting it.

Weighs about 900g (around 2 lb) – nearly three times more than an average healthy human heart. It is expected to cost 140,000 to 180,000 euros in Europe.

It mimics heart muscle contractions and contains sensors that adapt the blood flow to the patient’s moves.

Intended to replace a real heart for as many as five   years, unlike previous artificial hearts that were created mainly for temporary use.

Ms. Usha Sangwan: The first woman managing director of LIC

The Government of India appointed Ms Usha Sangwan as the first woman managing director of Life Insurance Corporation of India (LIC) and Vijay Kumar Sharma as an MD and chief executive officer of LIC Housing Finance. With these appointments, LIC is set to function at its full strength of four MDs. These are S B Mainak, Sushobhan Sarkar, Usha Sangwan and V K Sharma.

As per the norms, LIC can have four MDs, and a chairman, as part of its top management.

About Life Insurance Corporation of India (LIC)

Indian state-owned insurance group and Investment Company.

Headquarters: Mumbai.

Founded: 1 September 1956.

Current Chairman: SK Roy

Offers a variety of insurance products to its customers such as insurance plans, pension plans, unit-linked plans, special plans and group schemes.

India-Venezuela: Signed Cultural Exchange Programme

India and Venezuela signed a programme on cultural exchanges in the fields of publication, film and media, image and space arts, stage and music arts. The programme will last for three years and will be renewed automatically thereafter.

Excerpts of the Programme of Cultural Exchange

To promote the exchange of bilingual publications (traditional and contemporary stories).

To make an issue of the magazine ‘’Actualidades” (a CELARG publication) on the Republic of India or on Indian writers.

On a reciprocal basis, participation of India in the Venezuela’s International Book Fair.

To encourage the participation of Venezuelan and Indian poets and writers in the literature festivals organized by both countries.

To encourage the participation of India in the Venezuela’s World Festival of Poetry.

To boost the exchange of knowledge with specialists in the field of drawing techniques with natural pigments, specialists in dying with natural inks, as well as the use of enzymes.

Participation of a Venezuelan theatre company in the New Delhi’s Festival to diffuse the Venezuelan theatre in the Republic of India.

Encourage the acquisition of Distribution Rights of Indian film works by the film distributor Amazonia Films.

Encourage the institutional links between the Autonomous National Center of Film Making of the BolivarianRepublic of Venezuela and the Institute of Cinema and Television of the Republic of India.

Participation of one dancer or couple of dancers from India at the International Dance Festivals Solos y Duetos (Solos & Duets).

Canara Bank got license to open a branch in New York

To expand its global presence, the Canara Bank received a license from the US regulators to open a branch in New York. As stated by the Chairman and Managing Director of Canara Bank, R. K. Dubey, the Board of Governors of the US Federal Reserve approved the proposal of the bank to open a branch in New York. This is the first time that an Indian bank has secured an approval of the US regulators.

About Canara Bank

An Indian state-owned bank.

Headquarters: Bangalore, Karnataka.

Founded: 1906

Operates in four segments: treasury operations, retail banking operations, wholesale banking operations and other banking operations.

SEBI sets out deposit norms for members in debt segment

The Securities and Exchange Board of India (SEBI) sets out minimum deposit requirements for members in the debt segment of the stock exchanges.

As per the circular issued by SEBI –

As per the norms for stock brokers and proprietary trading members, the base minimum capital requirements will be applicable for the debt segment as well.

As per the profile of the members, the base minimum deposit requirements range from Rs 10 lakh to Rs 50 lakh for members of stock exchanges having nation-wide trading terminals.

For Clearing Members (CM) and Self Clearing Members (SCM) the deposit shall be Rs 10 lakh. No exposure shall be granted against such deposit requirement of the CM/SCM.

No deposit will required from members seeking registration in the debt segment if they are already members of another segment on the stock exchange.

No deposits would be applicable in case, the clearing members ‘clears and settles trades only on gross basis for both securities and funds, and where no settlement guarantee is provided by the clearing corporation.

CCEA approved Rs 6,600 cr interest-free loans for sugar mills

The Cabinet Committee on Economic Affairs (CCEA) approved Rs 6,600 Crore interest-free loans to cash-starved sugar mills in order to make payments to cane farmers. The interest subvention will be 12%, which will be borne by the Sugar Development Fund.

The loans provided by banks to sugar mills are solely for making payments to sugarcane farmers, including arrears. The loans are equivalent to the excise duty paid by the mills in the past three years. Mills will have to repay the loans in five years and can avail of a moratorium on repayment for the first two years.

The PM-constituted panel headed by Agriculture Minister Sharad Pawar recommended for interest- free loans, to help millers to clear dues and make timely payment in the current crushing season 2013-14 to cane growers.

Currently, sugar industry is facing a financial crisis due to higher cost of production and decline in the prices of sugar.  This has led to Rs. 3400 crore cane arrears from 2012-13 during the marketing year that ended in September 2013. Thus, owing to liquidity crunch, the sugar mills demanded interest-free loans for working capital requirement, hike in import duty, and export subsidies among others. This financial package will allow millers to pay money they owe to the farmers.

Current affairs 22 December 2013

Western Ghats: Nod for farming activities by Ministry of Environment & Forests

The Environment Ministry, following the ‘in principle’ acceptance of the Kasturirangan panel report, issued a fresh order on easing norms on activities related to plantations and agriculture in Ecologically Sensitive Areas (ESA).

The Ministry elucidated that the recommendations made by the Kasturirangan panel, neither put any fresh restrictions on land use in the ESA nor do they in any way impact the continued occupation of land in possession of the local people and affect their day to day activities or normal livelihood.

The new order cleared that the boundary of the ESA and the regulatory regime — an emotive issue in some of the affected states — would be finalized after the draft notification for the same is placed in the public domain and comments on it from all stakeholders including state governments are received. 

What are the recommendations made by the Kasturirangan panel?

The key suggestions made by the K. Kasturirangan panel:

Promotion of Ecotourism; economically empower the local population, Incentives green growth in the Western Ghats, etc.

Ban on mining, quarrying, sand mining, thermal power plants, building and construction projects on areas that are 20,000 sq m or more, township and area development projects with an area of 50ha and above and red category of industries in ESA.

Defined 37% of the Western Ghats landscape as ecologically sensitive.

Russia frees former oil tycoon Mikhail Khodorkovsky

Mikhail Khodorkovsky, an oil tycoon and political opponent of Vladimir Putin, released from prison after being pardoned by the Russian President. He left for Germany where his mother is being treated for cancer He spent ten years in jail for tax fraud, embezzlements and money laundering.

President Putin signed a decree pardoning his former political opponent on humanitarian grounds.

Who is Mikhail Khodorkovsky?

He is a Russian businessman, an oligarch, a philanthropist, a public figure and an author. He was once Russia’s richest man as head of oil giant Yukos, spent 10 years in custody for tax evasion and theft after funding opposition parties.

RBI: Inflation linked bonds for sale from December 23, 2013

The Reserve Bank of India (RBI) will issue Inflation Indexed National Savings Securities Cumulative (IINSS-C) bonds (or inflation linked bonds) for retail investors by opening the subscription on December 23, 2013 and close it on December 31, 2013.

Objective: The move will help to protect retail investors from price rise.

The IINSS-C bonds will offer investors a return i.e. 1.5% more than inflation based on the consumer price index. Interest will be compounded half yearly, enhancing effective yield on investments.

Inflation linked bonds

The limit for investment per applicant per annum: Rs 5,000 – Rs 5 lakh.

Eligibility for subscription: Individuals, Hindu Undivided Family, charitable institutions and universities.

The interest rate on these bonds would be linked to the Consumer Price Index (CPI).

The interest rate would comprise two parts — a fixed rate of 1.5% per annum and inflation rate based on CPI with a lag of three months. It would be compounded on the principal on half-yearly basis and paid at the time of maturity.

For senior citizens (65 years and above of age),  early repurchase will be allowed after one year from date of issue and other investors can redeem them after three years but with penalty of 50 per cent of the last coupon paid.

RBI will act as a central depository, as these securities will be issued in the form of Bonds Ledger Account (BLA) and held with RBI.

Distribution or sale of bonds would be through banks: SBI, nationalized banks and three private banks HDFC Bank, ICICI Bank and Axis Bank  and Stock Holding Corporation of India.

Kirobo: World’s first robot astronaut

Kirobo, the world’s first robot astronaut talks about Christmas in its first chat with the Japanese commander of the International Space Station.

About the world’s first robot astronaut Kirobo

Kirobo is Japan’s first humanoid robot astronaut, developed by Tomotaka Takahashi, to accompany Koichi Wakata, the first Japanese commander of the International Space Station.

Objective: To see how well robots and humans can interact.

A pint-sized android equipped with artificial intelligence and capable of learning how to respond appropriately to humans.

Created jointly by advertising firm Dentsu, the University of Tokyo, robot developer Robo Garage and Toyota.

The robot’s capabilities include voice and speech recognition, natural language processing, speech synthesis and telecommunications, as well as facial recognition and video recording. Kirobo is specially designed to navigate zero-gravity environments and will assist Commander Wakata in various experiments.

Current affairs 21st December 2013

Devyani Khobragade case: Government transfered diplomat to Indian permanent mission to UN

The Ministry of External Affairs transferred diplomat Ms Devyani Khobragade to India’s Permanent Mission in the United Nations, giving her full diplomatic immunity.

Why Ms Devyani Khobragade has been transferred to India’s Permanent Mission in the United Nations?

Ms. Devyani Khobragade, India’s deputy consul general in New York, arrested in the 2nd week of December 2013 for an alleged case of visa fraud and to make false statements in connection with the visa application for an Indian national employee who was domestic helper in her home.

Later on, she was released on a $250000 bond after she pleaded not guilty in a court. She will have to face a maximum of 15 years in jail if convicted on both matters.

The U.S. State Department clarified that Indian diplomat does not enjoy immunity from US laws. It is firm about its policies in support of the domestic workers.

Under the Vienna convention on consular relations (VCCR), the Indian Deputy Consul General enjoys immunity from the jurisdiction of US courts only with respect to acts performed in the exercise of consular functions.

Due to the fear that Ms. Khobragade may be detained again, posted to UN. Here, she will enjoy full diplomatic immunity and US can’t arrest her.

Sebi exempts govt from making open offer to IOB shareholders

Capital market regulator, Securities and Exchange Board of India (SEBI) exempted the government from making an open offer to public shareholders for acquiring shares of Indian Overseas Bank (IOB). The order was issued after the Government planned to raise its stake in IOB by 5% to 79 % by infusion of Rs 1,200 Crore. After the purchase government’s stake in IOB will raise by little over 5% to 79.01%.

SEBI in its order has said that the minimum public shareholder level in IOB, which is 10% for public sector units, would be maintained even after the proposed hike in Government hike in the bank. There will be no change in the management control of the bank.

Note: As per the rules, when entities holding 25% or more stake in a company acquire an additional 5% or more stake in the firm, they are required to make an open offer so as to provide an exit opportunity to the public shareholders.

UTIP Study: Kolkata ranked top in public transport among Indian cities

As per a study conducted by the International Association of Public Transport (UTIP), Kolkata (31) ranked top in the public transport among Indian cities. The other cities studied by the UTIP are Mumbai (41), Chennai (54), Hyderabad (55), Bangalore (65) and Delhi (79).

About the UTIP study

Study entitled ‘Future of Urban Mobility 2.0′

Data collected from 84 cities across the world

Released by Arthur D Little, a management consultant based in Boston and International Association of Public Transport (UITP).

The best cities are Hong Kong, Stockholm and Amsterdam, while the worst are Baghdad, Hanoi and Atlanta.

Parameters taken into account: share of trips made in public transport, smart card penetration, road density, frequency of public transport and initiatives taken in the public sector. 

About International Association of Public Transport (UITP)

International organization for public transport authorities and operators, policy decision-makers, scientific institutes and the public transport supply and service industry.

Headquarters: Brussels, Belgium

Formation: 17 August 1885

It is a platform for worldwide cooperation, business development and the sharing of know-how between its 3,400 members from 92 countries.

It is the global advocate of public transport and sustainable mobility, and the promoter of innovations in the sector.

UN lowered India’s growth forecast to 4.8% for 2013

United Nations lowered India’s economic growth forecast for 2013 to 4.8% and warned emerging market economies of the possible negative impact of a tapering of the US Federal Reserve’s quantitative easing program.

The UN’s World Economic Situation and Prospects 2014 report lowered India’s economic growth forecast by 1.3 % for 2013, while it pegged India’s growth rate down 1.2 % at 5.3 per cent in 2014. It projects India’s economic growth at by 5.7 % in 2015.

As per the UN report:

China’s growth was expected to maintain a pace of about 7.5 % over the next few years, though India’s economy was forecast to grow by more than 5 %.

Global economy is expected to expand by 3.0 % in 2014 and by 3.3 % in 2015, compared with estimated growth of 2.1 per cent for 2013.

The predictions are based on an end to the euro’s protracted recession and somewhat stronger growth in the United States.

Indian scientists discovered insulin pills for diabetics

Indian scientists have discovered a pill form of insulin treatment,  so now diabetes patients would be spared from the pain of jabbing themselves with a needle every day.

The process to transform delivery of this therapy from a shot to a pill was a challenge because body’s digestive enzymes that are so good at breaking down food also break down insulin before it can get to work. Besides, insulin doesn’t get easily absorbed through the intestine into the bloodstream.

To overcome these hurdles, scientists combined two approaches to shield insulin from the digestive enzymes and then get it into the blood.

They packaged insulin in tiny sacs made of lipids, or fats, called liposomes, which are already used in some treatments. Then, they wrapped the liposomes in layers of protective molecules called polyelectrolytes.

To help these “layersomes” get absorbed into the bloodstream, they attached folic acid, a kind of vitamin B that has been shown to help transport liposomes across the intestinal wall into the blood.

About Diabetes

Diabetes suppresses the production or use of insulin, which is a hormone that helps blood glucose or blood sugar become absorbed into cells and gives them energy.

Type 1 diabetes occurs when the body doesn’t make enough insulin, and type 2 diabetes occurs when the body doesn’t make or use insulin very well, causing glucose to remain in the blood, which can lead to serious problems.

ndia rolls out its First indigenous LCA – Tejas

Tejas, India’s first indigenous Light Combat Aircraft (LCA), which is all set to replace the MiG-21 series, developed by the Defense Research and Development Organization (DRDO) with Hindustan Aeronautics Limited (HAL) as its principal partner.

Tejas is the smallest, light weight, single engine, single seat, supersonic, multirole, combat aircraft, and best in its class in the world. It has many features of stealth fighter aircraft. It will be used by both the Indian Air Force (IAF) and the Navy.

This fourth generation combat aircraft has Carbon Composites, light weight/high strength material for primary structures, quadruplex Digital Flight Control System; glass Cockpit and digital Avionics to give multirole capabilities with carefree maneuvering. These capabilities are further raised by several on-board Sensors, Communication and Navigation Systems that are supported by powerful Mission Computers and Cockpit Display System.

This is for the first time an indigenously designed and developed military fighter aircraft has certified for Indian Air Force

Features of stealth fighter aircraft

The aircraft has a totally digital fly-by-wire control system; the wings are made entirely of composite structures.

Built by unstable configuration’ technique. It has open architecture software for avionics. DRDO can update it as and when required.

It integrates a ‘glass cockpit’ in which information is displayed ‘real-time’ to the pilot.

What is the future planning of Defense Research and Development Organization (DRDO)?

Plans to test fire the indigenous Astra missile and guns from the Tejas.

Working on MARK-II type Tejas aircraft, which has a better thrust and improved radar system than Mark-I type Tejas LCA (i.e. inducting in the Indian Air Force)

Working on the Combat variant, Trainer variant and Naval variants of Tejas.

DRDO developed a special facility in Goa, to notice the conditions for a Tejas for Navy landing, take-off and maneuver from an aircraft carrier.

Note: Stealth aircraft are designed to avoid detection using a variety of advanced technologies that reduce reflection/emission of radar, infrared, visible light, Radio-Frequency (RF) spectrum, and audio, collectively known as stealth technology.

Current Affairs 19th December 2013

Supreme Court: No sanction required for prosecution in court-monitored cases

The Supreme Court held that no approval from the Central Government is required by the Central Bureau of Investigation (CBI) to prosecute senior bureaucrats in court-monitored corruption cases. The court cleared that the sanction is not necessary under section 6A of the Delhi Special Police Establishment (DSPE) Act when the case under the Prevention of Corruption Act is monitored by court.

The court gave this ruling over the petition filed in coal blocks allocation scam to seek its direction to do away with the provisions of prior sanction of the Centre in cases monitored by court.

What is Coal allocation scam?

Coal allocation scam or Coalgate is a political scandal concerning the Indian Government’s allocation of the nation’s coal deposits to Public Sector Entities (PSEs) and private companies by Prime Minister Manmohan Singh. As  per  the  audit  report  of the Comptroller and Auditor General  (CAG)  of India, allocation  of  coal  blocks  without  bidding  has  caused  a  huge loss of 1.86 lakh crore to the India’s exchequer. 

What is the Delhi Special Police Establishment (DSPE) Act?

DSPE Act, 1946 is a legislation which provides for the constitution of a special police force in Delhi for the investigation of certain offences in the Union territories, for the superintendence and administration of the said force and for the extension to other areas of the power and jurisdiction of the members of the said force in regards to the investigation of specific offences as mentioned in this law.

‘Indian Idol 2′ winner Sandeep Acharya passed away

Sandeep Acharya, who won the second season of Indian Idol in 2006, passed away at Gurgaon. He was suffering from jaundice and is survived by his wife and a one-month-old daughter. The playback singer belonged to Bikaner, Rajasthan.

About Sandeep Acharya

Runner up in the Golden Voice of Rajasthan.

Winner of India Idol Season 2 on April 22, 2006. After winning the singing reality show, he released his first album “Mere Saath Saara Jahaan“.

Winner of the best new Bollywood talent in New Jersey, USA.

Bagged the Sur Aradhna award for the best upcoming male singer category. 

The upcoming album and songs of Playback singer are such as, ‘O Sanam Tere Bina’, Kuyn Ni Aayo re, etc.

Angela Merkel sworn in as German chancellor for 3rd time

German Chancellor Angela Merkel sworn in for a third term after being reelected in a vote in the lower house of parliament. The event marks the beginning of the third so-called grand coalition in the Germany’s post-war history.

Merkel’s conservative Union bloc – The Christian Democratic Union (CDU) and Bavarian Christian Social Union (CSU) won 41.5% of vote. To gain absolute majority they formed coalition with their rivals Social Democrats (SPD). By this coalition, for the next four years, Europe’s biggest economy will be ruled by the Germany’s two biggest parties.

The new government faces a host of challenges, from bedding down European reforms aimed at shielding the bloc from future crises, to seeing through Merkel’s costly switch from nuclear to renewable energy, etc.

Note:Angela Merkel is a former research scientist who has been the Chancellor of Germany since 2005, and the leader of the Christian Democratic Union (CDU) since 2000. She is the first woman to hold either office.

RBI mid quarter monetary policy review: All rates remain unchanged

The Reserve Bank of India (RBI) in its mid-quarter Monetary Policy Review kept the interest rates unchanged. By this move, the central bank gave the indication that solely monetary policy can’t deal with the inflation; the government must take initiatives on supply-side reforms and put in place better storage facilities to hold food prices.

This has come as a welcome relief for the industry which is facing depressing economic environment as indicated 1.8% growth in industrial output in November 2013.

What are Key policy rates?

The Key Policy Rates or signally rates are decided by RBI. These are Bank Rate, Repo Rate, Reverse Repo Rate, Marginal Standing Facility, Cash Reserve Ratio and Statutory liquidity ratio (SLR).

On the basis of an assessment of the current and evolving macroeconomic situation, the RBI decided to:

Keep the policy Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 7.75%, and

Keep the Cash Reserve Ratio (CRR) of scheduled banks unchanged at 4.0% of the Net Demand and Time Liability (NDTL).

Wait for more data before taking policy action, as current inflation is high but its trajectory is uncertain.

Thus, the reverse repo rate under the LAF will remain unchanged at 6.75%, and the Marginal Standing Facility (MSF) rate and the Bank Rate at 8.75%.

Iran space mission sends monkey to space for second time

Iran has revealed that it has successfully sent a monkey into space for the second time in 2013 as part of a space mission aimed at manned space flight.

As per Iran’s President Hassan Rouhani, the monkey – named Fargam, or Auspicious – came back from space in perfect health. For this programme, Iran used a liquid fuel rocket technology for the first time. In January 2013, Iran had claimed to have sent a monkey to an altitude of about 120km (75 miles) in a Pishgam rocket for a sub-orbital flight before returning successfully to Earth. However, the success of the first monkey flight was debated when a different animal was shown in images released after the touchdown. But Iran rebuffed those debates explaining that the picture of another monkey was mistakenly which was undergoing suitability tests.

Why the West apprehends Iran’s space programme?

The Western nations have raised concerns over Iran’s space programme as they fear the technology could be used in ballistic missiles. Iran is already under international pressure to give up its alleged nuclear programme and is also under the US imposed crude oil trade embargo for the same reason.

Peter O’Toole of ‘Lawrence of Arabia’ fame passed away

Legendary actor Peter O’Toole (81), applauded for his role in the classic 1962 film Lawrence of Arabia, passed away in London.

Peter O’Toole

He was an Irish actor who made his film debut in 1959. He rose to stardom playing T. E. Lawrence in Lawrence of Arabia (1962) for which he was nominated for Academy Award for the first time. He received seven further Oscar nominations – for Becket (1964), The Lion in Winter (1968), Goodbye, Mr. Chips (1969), The Ruling Class (1972), The Stunt Man (1980), My Favorite Year (1982) and Venus (2006) – and holds the record for the most Academy Award acting nominations without a win. He bagged four Golden Globes, a BAFTA and an Emmy, and was the recipient of an Honorary Academy Award in 2003. He bid adieu to his 50-year acting career in 2012.

Historic Lokpal and Lokayuktas Bill passed

The parliament passed the historic Lokpal and Lokayuktas Bill, paving the way for establishment of an ombudsman to fight against corruption in public offices and ensure accountability on the part of public officials, including the Prime Minister, but with some safeguards. Welcoming the Bill’s passage, 76-year-old social activist Anna Hazare broke his fast, into its ninth day, in Ralegaon Siddhi, Maharashtra.

What is Lokpal Bill 2011?

The Lokpal Bill, 2011, also referred to as The Lokpal and Lokayuktas Bill, 2011, is an anti-corruption law in India which “seeks to provide for the establishment of the institution of Lokpal to inquire into allegations of corruption against certain public functionaries and for matters connecting them. The bill was introduced in parliament following massive public protests led by anti-corruption crusader Anna Hazare and his associates.

Highlights of Lokpal and Lokayukta Bill 2011

The bill provides for the setting up of a Lokpal at the Centre and Lokayuktas at the States.

The Lokpal consists of a Chairperson and a maximum of eight members of which 50% shall be judicial members.The Chairperson may be either a serving or retired Chief Justice of India, or a Judge of the Supreme Court or an eminent person. Fifty per cent of the total members shall be from the higher judiciary.

The Chairperson and the members of the Lokpal shall be appointed by the President on the recommendation of the Selection Committee consists of the Prime Minister, Lok Sabha Speaker, Leader of the Opposition in the Lok Sabha, Chief Justice of India or a Supreme Court judge nominated by him. One eminent person recommended by the Selection committee and nominated by the President will be its fifth member.

Lokpal will have the power of superintendence and direction over any investigation agency including CBI for cases referred to them by Lokpal.

A high powered Committee chaired by the Prime Minister will recommend selection of the Director, CBI. Directorate of Prosecution headed by a Director of Prosecution under the overall control of Director.

The appointment of the Director of Prosecution, CBI will be made on the recommendation of the Central Vigilance Commission.

Transfer of officers of CBI investigating cases referred by Lokpal with the approval of Lokpal.

The Bill also mandates setting up of Lokayuktas through enactment of a law by the State Legislature within 365 days from the date of commencement of the Act.

RBI outlines action plan to tackle NPAs; discussion paper open for public comments

The Reserve Bank of India (RBI) outlined a corrective action plan to minimize rising Non-performing assets (NPAs). The plan include three steps:-

To motivate early identification of problem cases.

To restructure the accounts timely , which are considered to be viable, and

Banks must take prompt actions for recovery or sale of unviable accounts.

As per the RBI discussion paper, “Early recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalizing Distressed Assets in the Economy”, which is open for public comments till January 1, 2014, it would set up a Central Repository of Information on Large Credits (CRILC) to collect, store, and disseminate credit data to lenders. The credit information will include all types of exposures as defined under RBI Circular on exposure norms, and will also include data on lenders’ investments in bonds/debentures issued by the borrower/obligor.

Banks will have to furnish credit information to CRILC on all their borrowers having aggregate fund-based and non-fund based exposure of Rs.5 crore and above .

On the asset sales front, the RBI has shown readiness in allowing a lender to spread any loss over two years provided the loss is fully disclosed and allowing leverage buyouts by specialized entities. It also suggests takeout financing/refinancing possible over a longer period and not construing it as restructuring. RBI also proposed more expensive future borrowings for borrowers who do not cooperate with lenders in resolution.

What are Non performing Assets (NPA)?

Any asset, including a leasePDFd asset, becomes a non performing when it ceases to generate income for the bank are called Non Performing Assets or Bad loans.

Note: RBI proposed these rules to help banks to recover bad debts in an effort to ease the financial stress on banks as the economy slows. This discussion comes as there is fear of bad loans to gain a record high of around Rs. 2.9 trillion by the end of the fiscal or 4.5 per cent of the total banking assets.

West Bengal adopts Bill to tackle illegal activities of Chit Funds

With a view to tackle illegal activities of Chit Funds, the West Bengal Assembly adopted a fresh Bill ‘West Bengal Protection of Interest of Depositors in Financial Establishments Bill, 2013′.

The bill has arrived close on the heels of Sardha Chit Fund Scam which swindled the investors of their money.

Under the provisions of the new Bill personal properties of a person, who has borrowed money from defaulting Chit Fund Company will be attached besides, the properties of the owner, partners, directors and employees of the Financial Institutions will also be impounded.

As per State Finance Minister, the Government has returned money to 2 lakhs 87 thousand people thus far, who have been cheated by the Sardha Group. The Government has spent 165 crore rupees for this purpose till now.

There are vociferous demands for CBI investigations into the case and recompense the duped investors by selling of the properties of those who were involved in the scam.

What happened in Sardha Chit Fund Scam?

The Saradha Chit Fund Scam is a financial scam that was caused by the collapse of a Ponzi scheme run by Saradha Group, a syndicate of Indian firms that was thought to be operating a wide range of collective investment schemes in Eastern India. The group crumbled in April 2013, inflicting an estimated loss of Rs. 200–300 billion (US$4–6 billion)to over 1.7 million depositors.The state government of West Bengal set up an inquiry commission to investigate the collapseand also set up a fund of Rs. 5 billion ($92 million) to ensure that low-income investors are not bankrupted. The Union Government through the Income Tax Department also launched a multi-agency investigation along with the CBI to probe the Saradha scam, as well as other similar Ponzi schemes.

Current Affair 18th December 2013

India clinched Women’s Kabaddi World Cup

Indian won women’s Kabaddi World Cup 2013 championship for a third consecutive time, vanquishing debutant New Zealand in the final match played at Guru Gobind Singh sports complex in Jalandhar, Punjab.

Women’s World Cup Kabaddi 2013:

Organizer: Government of Punjab, India

Final Match: Guru Gobind Singh sports complex in Jalandhar, Punjab.

Teams Played: 8 Teams viz. India, Pakistan, Denmark, England, Kenya, Mexico, New Zealand, and United States

Winner: India defeated New Zealand

Key Players: India’s Anu Rani declared Best Stopper and Ram Bateri was announced Best Raider.

Germany defeats France to lift Junior Men’s Hockey World Cup

Germany registered a record sixth title win defeating France in the title clash of the Hero Junior Men’s Hockey World Cup held at the Major Dhyan Chand Stadium in Delhi, India. Germany’s Niklas Wellen stunned the opponent with a brilliant hat-trick to guide defending champions to victory.

ustralia regains Ashes Test Series

Australia reclaimed the Ashes test series just four months after the last series defeat in England with a 3rd Test victory on home soil.

The Ashes:

The Ashes is a conceptional prize in a Test cricket series played between Australia and England. The Ashes are regarded as being held by the team that won the last Test series between those sides or, if that series was drawn, by the team that last won such a series. Traditionally, Ashes series consists of 5 Tests played biennially with England and Australia taking turns as host.

Why is it called the Ashes?

The association of the term ‘the Ashes’ with England v/s Australia test series has a story behind. In 1882, Australia defeated England for the first time in Test on England’s soil. Following this, a British newspaper, The Sporting Times, published a satirical obituary stating that the English cricket had died, and the body will be cremated and the ashes taken to Australia. The mythical ashes instantly became associated with the 1882–83 series played in Australia, before which the English skipper Ivo Bligh had vowed to “regain those ashes”. The English media therefore called the tour the quest to regain the Ashes.

After England had won two of the three Tests of the series, a group of Melbourne women presented a small urn to Bligh. Among those women was Florence Morphy, whom Bligh married within a year. The contents of the urn are reputed to be the ashes of a wooden bail, and were amusingly described as “the ashes of Australian cricket”. There is ambiguity whether that “tiny silver urn” is the same as the small terracotta urn given to the Marylebone Cricket Club (MCC) by Bligh’s widow after his demise in 1927.

The urn has never been the official trophy of the Ashes series, having been a personal gift to Bligh. However, replicas of the urn are often held aloft by winning teams as a symbol of their victory in an Ashes series.

Men’s Hockey Champions Trophy 2014 to be held in Bhubaneswar

As per the announcement of International Hockey Federation (FIH), Bhubaneswar, capital of Odisha will host the 35th edition of the Champions Trophy men’s hockey tournament to be held from December 13-21 in 2014.

The event will be held at the Kalinga Stadium in Bhubaneswar which is currently undergoing renovation. The event will be hosted by Hockey India in collaboration with Orissa state government.

Hockey Champions Trophy

The Hockey Champions Trophy is an international field hockey tournament organized by the International Hockey Federation (since 1978).

Founder: Pakistan’s Air Marshal Nur Khan in 1978

Initiator: Pakistan Hockey Federation as a men’s tournament in 1978

Teams:  8 elite hockey teams compete in a round robin format of hockey.

Period: Initially, it was an annual event from 1980 for men and 1987 for women. Later changed into a biennial event from the 2014 editions onward due to the introduction of the Hockey World League.

Achievers: Australia stands on top in men’s event by winning the trophy 13 times followed by the Germans (9), and the Dutch (8).  Pakistan is the only Asian champion, with 3 titles. In the women’s event both the Netherlands and Australia have won the trophy 6 times, while Argentina won 5 titles.

India has never won Hockey Champions Trophy

Winners of 2012: Men’s – Australia, Women’s- Argentina

India defeats Pak to lift Men’s Kabaddi World Cup

India clinched men’s Kabaddi World Cup for the fourth time in row, defeating its arch rival Pakistan in the neck and neck final clash played at Guru Nanak Dev Stadium in Ludhiana, Punjab.

Men’s World Cup Kabaddi 2013:

Organizer: Government of Punjab, India

Final Match: Guru Nanak Dev Stadium in Ludhiana, Punjab.

Teams Played: 11 Teams played representing their respective nations. The teams were from Argentina, Canada, England, Denmark, Pakistan, India, Kenya, Scotland, Sierra Leone, Spain, and the US

Winner: India defeated Pakistan

Key Players: India’s Haravinder Singh Dulla was voted Best Raider and Balbir Singh Best Stopper of the tournament.

China’s Jade Rabbit makes soft landing on Moon

China’s Chang’e-3 lunar spacecraft which is carrying its first moon rover Yutu or Jade Rabbit rover made a “soft landing” on the moon since 1976. With this accomplishment China has joined the elite club of the US and Russia to achieve this feat. The probe touched down on an ancient 400-kilometre (250-mile) wide plain known in Latin as Sinus Iridum, or The Bay of Rainbows.

What is Soft Landing?

Soft Landing is a landing by a spacecraft on the moon or a planet at a sufficiently low velocity for the equipment or occupants to remain unharmed.

About Chang’e-3 lunar probe

China’s first lunar rover mission aimed at exploring the Moon’s surface and looking for natural resources such as rare metals.

Launching Site: Xichang Xichang Satellite Launch Center in China’s southwestern Sichuan province

Launched on: December 2, 2013

Carrier: Long March-3B

Key Payload: Six-wheeled robotic rover called Yutu (or Jade Rabbit) and a landing module.

Landing Site: Sinus Iridum, or The Bay of Rainbows in the Moon’s northern hemisphere.

Union Cabinet Okays fresh amendments to Code of Conduct for ministers

In a bid to curb the misuse of bureaucrats by ministers for political motives, both at the Centre and in the states, the government approved fresh amendments to a 50-year-old Code of Conduct for Ministers.

What are the approved amendments to the Code of Conduct for Ministers?

As a fresh amendment to the Code of Conduct for Ministers (CCM), a new clause aimed at checking the political executive from misusing bureaucrats for political purposes will be added to the CCM. As per Cabinet’s proposal, it will also help check civil servants from cultivating political backing. The new Paragraph 2 (f) will now read as: “After taking office, and so long as he remains in office, the minister shall:- uphold the political impartiality of the civil services and not ask the civil servants to act in any way which would conflict with the duties and responsibilities of the civil servants.”

Does Code of Conduct for Ministers have legal backing?

No. The CCM for Union Ministers, Chief Ministers and Ministers of the respective state governments has no legal backing. However, the current proposal expects all the ministers to adhere to the instructions mentioned in the document scrupulously. ,

When will the fresh CCM come into effect?

While the new clause will come into effect at the Centre immediately, it will be sent to the state governments for their adoption.

Lieutenant Governor (LG) Najeeb Jung recommended imposition of President’s rule in Delhi

Lieutenant Governor (LG) Najeeb Jung has recommended imposition of President’s rule in Delhi among other options as the impasse continued over formation of a new government in Delhi after a suspended verdict with no party ready to assume power.

In his report submitted to the President, Jung listed Central rule with the Assembly being kept in suspended animation as one of the options. As per the report, none of the party is in a position to form the government and so far there is no clarity on government formation. It also noted that AAP leader Arvind Kejriwal sought more time for further consultations.

Hence, Jung has suggested that the President’s rule should be imposed in Delhi by keeping the Assembly under suspended animation till any government is formed. If no party comes forward to stake claim to form the government, the President’s rule can be imposed in the next two days.

What has happened so far?

In the recently held Assembly Elections in Delhi for 70 seats, no party could secure clear mandate of 36 seats. As per the results, BJP won 31 seats along with its ally Akali Dal got 32 seats, AAP clinched 28 seats followed by Congress 8 seats. BJP has already refused to form the government citing “lack of clear mandate”. At this point AAP has become a key player as its support to BJP or Congress can facilitate in government formation. Though AAP is ready to support any of these two parties but has some conditions. As a condition for its support, AAP’s chief Arvind Kejriwal made 18 suggestions to be implemented by the government forming party in Delhi. Of 18 suggestions the Congress is ready to implement 16 but is opposed to two of it. Hence, the stalemate persists.

India sticks to top position in ICC ODI rankings

Despite the dingy performance against South Africa, the Indian cricket team has retained its top position in the latest ICC ODI rankings. India topped the rankings chart with 120 points, which is followed by Australia with 114 points.

Other latest ICC rankings:

A.B. Devilliers of South Africa replaced Virat Kohli as the World’s number one Batsman.

Indian skipper, M.S. Dhoni was placed at number 6 and Shikhar Dhawan was placed at 10 spot in the rankings table.

In the bowler’s rankings, Pakistani spinner Saeed Ajmal, was ranked no. 1.

In the category of All Rounders, Shakib Al Hasan of Bangladesh retained his number one position.

South Africa is no.1 Test team on the ICC test rankings chart

DRDO develops heavy drop system improving Army’s para-dropping capacity

DRDO has developed a 16 ton capacity Heavy Drop System (HDS) to improve Army’s para-dropping capacity. The system (HDS) consists of a platform and a highly advanced system of parachutes to drop loads consisting of military stores such as vehicles including BMP class, supplies and ammunition from IL-76 heavy lift aircraft.

Aerial Delivery Research and Development Establishment (ADRDE), an Agra-based laboratory of the DRDO designed and developed the three prototypes of the system. These systems are re-usable type to provide drop practice to the troops during their regular military training during peace time.

The bulk production of 146 numbers is being initiated at L&T for the mechanical platform and OPF Kanpur for the parachute systems.

About Defence Research and Development Organisation (DRDO)

Formed in 1958, works under the Department of Defence Research and Development of Ministry of Defense.

Headquarters: New Delhi

Aim: To make India prosperous by establishing world-class science and technology base and provide our Defence Services decisive edge by equipping them with internationally competitive systems and solutions.

Note: The system is extension of technology developed by DRDO for ‘P-7 HDS’, the 7-tonne capacity Heavy Drop System developed earlier and already accepted by Indian Army for induction

Mobile makers should install “SoS” button for women safety: Finance Minister

On the first anniversary of December 16 brutal act that jolted the country, the Centre approved several proposals for improving women’s safety under the Nirbhaya Fund.

Finance Minister P. Chidambaram announced that mobile handset makers will have to introduce an SoS alert button to ensure that women in distress can be reached by the police in the minimum possible time.

Proposal from the Ministries of Home Affairs and Information Technology:

The police administration will be integrated with the mobile phone network to rapidly respond to distress calls. The scheme will be launched in 157 cities in two phases (55 in phase I and 102 in phase II).

Proposal from the Road Transport Ministry:

A programme ‘Security of women in road transport in the country’ will be launched in 32 towns, each with a population of over 1 million. The expected cost is about Rs. 1,700 crore. Under this scheme, public transport vehicles will have GPS for easy tracking, CCTVs and more women drivers and conductors, among others measures.

Proposal from the Railway Ministry:

It proposes to start a public scheme for establishing an SoS alert system in trains in select zones. The facility will cover all service providers from all telecom circles. It will have a call recording facility and a call centre.

What is Nirbhaya Fund?

Nirbhaya Fund is a Rs. 1000 crore fund was announced by Finance Minister P Chidambaram in Budget 2013-14. The fund is aimed at enhancing the safety and for empowerment of women. It was named after Nirbhaya- the pseudonym given to the victim of the incident to hide her identity.

What is SoS?

SOS is the widely used description for the International Morse Code distress signal (· · · – – – · · ·). Earlier, SOS was used as the maritime radio distress signal but from 1999 it was replaced by the Global Maritime Distress Safety System. SOS is still recognized as a visual distress signal.

What is the composition of SOS?

The SOS distress signal is a continuous sequence of three dits, three dahs, and three dits, all run together without letter spacing. The three dits form the letter S, and three dahs make the letter O, so “SOS” became an easy way to remember the order of the dits and dahs. SOS is the only 9-element signal in Morse code, making it more easily identifiable, as no other symbol uses more than 8 elements.

What is the full form of SOS?

It must be noted that SOS is not an abbreviation and there it does not stand for anything. Although some phrases like “save our ship“, “save our souls” and “send out succour” were popularly associated with SOS, these may be regarded as mnemonics.

C.V.R Rajendran is new CMD of Andhra Bank

The Union Ministry of Finance, Government of India appointed C. V. R. Rajendran as Andhra Bank Chairman and Managing Director. Previously, he was Executive Director of Bank of Maharashtra. As CMD of Andhra Bank, Rajendran will have a 5-year term or until superannuation, whichever is earlier.

Current Affair 17th December 2013

NGT banned burning of plastic, rubber across the country

The National Green Tribunal (NGT) banned “unregulated open burning” of plastic, rubber or such other articles across the country. NGT directed all the municipal authorities to ‘set up, operationalise and coordinate the waste management systems within their limits

All the plastic waste/scrap dealers and/or recyclers including the members of the PVC and Plastic Waste Dealers Association, respondent herein, shall be bounded from carrying on their business of separatism of plastic waste and its eventual transfer to recyclers or disposal contrary to and without registration under the Plastic Waste (Management and Handling) Rules, 2011.

The NGT’s judgment came on a plea alleging illegal burning of plastic, rubber and related waste in various villages in North and North West Delhi.

About National Green Tribunal

National Green Tribunal Act, 2010 (NGT) is a federal legislation enacted by the Parliament of India, under India’s constitutional provision of Article 21, which assures the citizens of India the right to a healthy environment. The tribunal itself is a special fast-track court to handle the expeditious disposal of the cases pertaining to environmental issues.

India’s trade deficit with China nears record $30 b

As per the data released by the China’s General Administration of Customs, India’s trade deficit with China after 11 months of this year has reached a record $29.5 billion, exceeding 2012’s annual figure. Towards the end of 2013, India’s exports to China reached only $14.87 billion out of total bilateral trade of $59.24 billion.

The numbers underline the sharp decline in once-burgeoning trade, which reached $74 billion in 2011 when China became India’s biggest trading partner.

In 2012, India’s the trade deficit with China registered a 10% decline to reach 66.50 billion dollar, even as both the countries announced an ambitious 100 billion trade target to be achieved by 2015. The decline was partly the result of 20% slump in India’s exports, largely on account of iron ore mining bans by China and partly on account of global slowdown.

What is Trade deficit?

An economic measure of a negative balance of trade in which a country’s imports exceeds its exports. A trade deficit represents an outflow of domestic currency to foreign markets.

India’s Deputy Consul General Devyani Khobragade held in US on visa fraud charges

India’s Deputy Consul General Devyani Khobragade arrested in New York for an alleged case of visa fraud and making false statements in connection with the visa application for an Indian national employee who was domestic helper in her home. Later on, she released on a $250000 bond after she pleaded not guilty in a court.

The U.S. State Department clarified that Indian diplomat does not enjoy immunity from US laws. It is firm about its policies in support of the domestic workers. Under the Vienna Convention on Consular Relations(VCCR), the Indian Deputy Consul General enjoys immunity from the jurisdiction of US courts only with respect to acts performed in the exercise of consular functions.

Ms. Devyani is currently employed as the Deputy Consul General for Political, Economic, Commercial and Women’s Affairs at the Consulate General of India in New York.

Why was Ms. Devyani Khobragade arrested?

Indian diplomat Ms. Devyani was accused of paying her domestic assistant just a few dollars an hour and lying on a visa application. The minimum wage paid to the employee in USA is $4,500 a month, but she was paying only $530 a month.

What is the reaction of Indian Embassy over the arrest of Indian Diplomat?

The Indian embassy pointed to Article 41 (section 3) of VCCR (Personal Inviolability of Consular Officers) which clearly says that proceedings against a consular officer “shall be conducted with the respect due to him by reason of his official position”. The Indian Government has taken this issue forcefully with the US saying that the action by law authorities was in complete violation of this Article and least expected from a friendly country.

Vienna Convention on Consular Relations of 1963:

The Vienna Convention on Consular Relations of 1963 is an international treaty that defines a framework for consular relations between independent countries. A consul normally operates out of an embassy in another country, and performs two functions:

protecting in the host country the interests of their countrymen, and

furthering the commercial and economic relations between the two countries.

While a consul is not a diplomat, they work out of the same premises, and under this treaty they are afforded most of the same privileges, including a variation of diplomatic immunity called consular immunity. The treaty has been ratified by 176 countries.

“Unbreakable”: The autobiography of Mary Kom unveiled

Mary Kom, the legendary boxer from North East wrote her autobiography titled “Unbreakable”. The book was inaugurated by Bollywood Megastar Amitabh Bachchan at Mumbai. Mary decided to pen down her life’s battles, so that she could inspire and motivate others to never loose hope and fight for their dream. The autobiography details her rise to the top from a modest background; the book beautifully brings out her long lasting spirit and is an inspirational story for everyone, especially for women.

About Mary Kom

Five-time World Boxing champion, and the only woman boxer to have won a medal in each one of the six world championships.

First Indian women boxer to qualify and win a bronze medal at the London Olympics in the flyweight (51 kg) category.

Won lots of awards like Padma Bhushan (2013), Rajiv Gandhi Khel Ratna award (2009), Padma Shree (2006), Arjuna Award (2003), etc.

Appointed the International Boxing Association’s Ambassador for Women’s Boxing in 2009.

Indian Govt pulls up Army chief for accepting U.S. military honor ‘Legion of Merit’ without its permission

The Indian government pulled up the country’s Army chief General Bikram Singh for accepting a ‘Legion of Merit’ ,the sixth highest American military honor, without its approval. The Indian Defense Ministry questioned that the bestowment of the honor was not the part of General Singh’s itinerary during his visit to the U. S., then why he accepted the ‘Legion of Merit’, without prior clearance from the government.

General Bikram Singh is the fifth Indian armed forces officer, to have received the award after Field Marshal Kariappa and first Indian Chief of Army Staff Gen Rajendra Singhji.

What is Legion of Merit?

It is the sixth highest American U.S. Military award which is awarded to both US military personnel as well as to military and political figures of other nations for exceptionally meritorious conduct and services.

 Note: As per the norms, any Indian defense forces official has to seek permission from the government to accept foreign honors.

Current affair 16th December 2013

Israel, Jordan, Palestinians signed Water sharing Deal

Mid-East governments (Israel, Jordan and the Palestinians) signed a historic trilateral agreement at the World Bank in Washington, which outlines regional water-sharing initiatives from the Red Sea to Dead Sea to relieve shortages in the waterless lands.

The Dead Sea has unique water properties like humans can float naturally on the surface, etc. Owing to human intervention, the sea is depleting 1m (3.3ft) a year. Thus, in order to save the Dead Sea, a pipeline will built on the Jordanian side of the Aqaba Gulf to carry sea water from a desalination plant at the Red Sea to the Dead Sea, while providing drinking water to the region.

The plan attributes the development of a desalination plant in Aqaba that will produce water to be shared with Israel, increased water quotas to Jordan from Israel’s Sea of Galilee and the sale of waters made potable and salt-free from Israel to the Palestinians.

The deal is an outcome of the cooperation since 2005 among Israel, Jordan, and the Palestinian Authority on the Red Sea-Dead Sea Water Conveyance Study Program. Expected cost of the project is $250m-$400m.

The Red Sea-Dead Sea Water Conveyance Study Program will help to save the Dead Sea; supply water and develop hydro-electricity; and bring out strategic, political and economic cooperation.

Retired Justice DP Buch: Gujarat’s fourth Lokayukta

Retired High Court Judge DP Buch was sworn as the fourth Lokayukta of the Gujarat by Governor Kamla Beniwal, on the post that was lying vacant for a decade and over which Chief Minister Narendra Modi and Governor Kamla Beniwal were on a collision course for three years.

What was the dispute between CM Narendra Modi and Governor, over the issue of appointment of Lokayukta?

The issue triggered a major controversy when the Governor appointed Justice (retd) R.A. Mehta as Lokayukta on August 25, 2011, without consulting the state government. This led to a long-drawn legal battle that reached the Supreme Court, which later on preserved the Governor’s decision. But after wining the legal battle over the appointment, Mr. Justice Mehta rejected to take charge of Lokayukta in August, 2013 because the government didn’t accept his objectivity and credibility.

About Lokayukta

Lokayukta is an anti-corruption investigator organization in the Indian states. The institution of Lokayukta has been set up to inquire into the allegations against Public Functionaries in the State and for matters connected therewith.

Note: The anti-corruption investigator post of Gujarat was lying vacant since the last officer, Justice R M Soni’s term expired in December 2003.

GSP Plus: EU grants duty-free market access to Pakistani goods

European Parliament approved the Single Delegated Act under which ten countries including Pakistan are privileged to Generalized System of Preferences Plus (GSP Plus) Scheme. The Act will come into force from January 1, 2014.

The European Union being Pakistan’s most important trading partner supports the integration of Pakistan with the global economy by granting Pakistan’s exports to the EU reduced tariffs under the EU’s Generalized Scheme of Preferences.

How do Generalized System of Preferences Plus (GSP Plus) status helpful for Pakistan?

The status provides Pakistan duty-free or preferential duty rate access for a total of 3,500 products. It means there will be zero duties on over 90% of all products that Islamabad exports to the bloc of 27 nations.

EU trade concessions will benefit the country’s largest manufacturer and exporter, the textile and clothing industry, the most by allowing its products to compete with those of regional rivals like Bangladesh and Sri Lanka, which already have duty free access to the bloc’s market.

About Generalized System of Preferences Plus (GSP Plus) Status

The EU’s “Generalized Scheme of Preferences” (GSP) allows developing country exporters to pay lower duties on their exports to the EU. This gives them vital access to EU markets and contributes to their economic growth.

The “GSP+” enhanced preference means full removal of tariffs on essentially the same product categories as those covered by the general arrangement.

These are granted to countries which ratify and implement international conventions relating to human and labor rights, environment and good governance.

Sergio Perez joined Sahara Force India with multi-year deal for 2014 F1 season

Mexican Formula One driver Sergio Perez signed a multi-year contract with the British-based team Sahara Force India. The 23-year-old Mexican completes Sahara Force India’s 2014 line-up alongside Nico Hülkenberg and helps to create one of the most exciting pairing on the grid.

The 2014 Formula 1 grid line up of many teams are taking shape, such as:–

Red Bull: Sebastian Vettel and Daniel Ricciardo,

Ferrari: Fernando Alonso and Kimi Raikkonen,

Mercedes: Lewis Hamilton and Nico Rosberg,

McLaren: Jenson Button and Kevin Magnussen,

Force India: Nico Hulkenberg and Sergio Perez, etc.

About Sergio Perez

Member of the FerrariDriverAcademy till 2012 and took his first Formula One podium at the 2012 Malaysian Grand Prix

Previous teams:  McLaren, Sauber

In December 2013, Force India signed Perez in a 15million Euro deal. 

Note: Sahara Force India Formula One Team is a Formula One racing team based in Silverstone, United Kingdom which currently holds an Indian license. The team was formed in October 2007 when a consortium led by Indian businessman Vijay Mallya and Michiel Mol, bought the Spyker F1 team for € 90 million.

Currentt affair 12 and 13th December 2013

Star India is now the official sponsor of Indian cricket team

Star India Pvt. Ltd., the television network, bags sponsorship rights of the Indian cricket team covering BCCI events, International Cricket Council (ICC) events and Asian Cricket Council (ACC) events, from January 1, 2014 to March 31, 2017. This brings to an end a 12-year partnership with Sahara, the existing team sponsor, whose contract expires on December 31,2013.

The BCCI fixed the base price for India’s international matches at Rs. 1.5 crores per match.

Star India bid Rs.1.92 crore per match for bilateral series, and Rs. 61 lakh per match for ICC-sponsored tournaments.

Sahara bid Rs. 2.35 crore per BCCI match and Rs. 91 lakh for ICC games. The total amount bid by them stood at Rs. 252 crore in contrast to Rs. 203 crore bid by Star. ( Sahara’s bid rejected on technical grounds)

The team sponsorship rights include the right to be called the official team sponsor, and to display a commercial logo on the men’s, women’s, Under-19 and A teams’ kits.

Star now holds all three important rights: broadcasting, series title and team sponsorship.

Star is also the title sponsor for BCCI’s international and domestic matches till March 31, 2014, and holds the broadcast, internet and mobile rights to Indian cricket until March 2018.

Why Sahara India was disqualified, albeit its bid was higher ?

The  reasons are not known, but there was a bone of contention among the  Sahara Group and the BCCI  on the Indian Premier League Pune franchise. In October 2013, the board terminated Sahara-sponsored IPL team Pune Warriors over franchise fees.

“Miss Earth Venezuela” Alyz Henrich wins the Miss Earth beauty pageant 2013

Miss Earth Venezuela” Alyz Henrich won the 13th edition of the Miss Earth Pageant held at the Versailles Palace in Alabang, Muntilupa City, Philippines. Miss Earth is an annual international beauty pageant promoting environmental awareness.

Eighty-eight contestants from all over the world competed and the winner was.

Alyz Henrich’s cause for the pageant is to ensure water preservation.

The Venezuelan beauty chosen to keep waters of an island cleans as her environmental advocacy.

Other winners are:

Miss Earth Fire:        Miss Korea Catharina Choi

Miss Earth Water:    Miss Thailand Punika Kulsoontornrut

Miss Earth Air:         Miss Austria Katia Wagner

India’s participant for the pageant was Sobhita Dhulipala, who failed to make it in the list of top 16. She won the Miss Photogenic and the Miss Eco Beauty Title contests.

About Miss Earth beauty pageant

Established in 2001 to uphold the advocacy to preserve and restore the environment.

Headquarters are at Manila, Philippines

The title-holder serves as the ambassador for environmental protection campaigns worldwide.

Nicole Faria is the first Indian contestant to have won the title in 2010.

India to Host 2017 FIFA U-17 World Cup

India will host the 2017 Under-17 World Cup Football. This will be the first time India will host an international football competition at world level.

The 2017 FIFA U-17 World Cup will be the 17th tournament of the FIFA U-17 World Cup. It is the world championship of association football for male players under the age of 17 organized by Fédération Internationale de Football Association (FIFA).

After the meeting in Salvador da Bahia, Brazil,  FIFA executive committee unveiled that By virtue of being the host country, India will take part in the 24-nation tournament for the first time in its history.

India hosted Asian Football Co federation’s Youth Championships (Under-20) in 2006 and then the AFC Challenge Cup in 2008 but never any FIFA tournament.

Tournament will be held in 6 venues which are to be selected from eight cities – New Delhi, Margao, Banglore, Pune , Mumbai, Kolkata, Kochi and Guwahati.

Note: The 2013 FIFA U-17 World Cup was held in the United Arab Emirates and won by Nigeria after defeating Mexico. Chile will be the host country for the 2015 edition.

FIFA awarded South Korea to host Under-20 World Cup in 2017, Jordan to host Women’s Under-17 World Cup in 2016 and South Africa to host 2016 FIFA Under 20 Women’s World Cup.

Oldest known human DNA decoded

The researchers at the Max Planck Institute for Evolutionary Anthropology in Leipzig, Germany have decoded the oldest DNA ever found. They have almost completely decoded the mitochondrial DNA (mt DNA) taken from four-lakh year old thigh bone of human family representative of the genus Homo. 

The thigh bone was discovered at a burial site Sima de los Huesos (Bone Pit) that was preserved in Spain’s northern Sierra de Atapuerca highlands. The scientists have found that the mitochondrial genome of Denisovans belongs to the extinct relatives of Neanderthals in Asia.  

What did the researchers find after decoding the oldest DNA?

This research has enhanced the knowledge of the human genetics by 300000 years and also tells about the journey of human’s evolution.  After comparing the code with the modern humans, apes, Neanderthals and their sister group, Denisovans, researchers found that the Spanish hominins were more closely related to the geographically more distant Denisovans than to Neanderthals.

ndia permits unlisted companies to directly raise capital abroad

As per the Department of Industrial Policy and Promotion (DIPP), India’s FDI policy has been modified to allow unlisted firms to directly list on stock exchanges abroad to raise capital for acquisitions or retiring overseas debts. This step may help India in controlling high Current Account Deficit (CAD).

Unlisted companies are heretofore not allowed to directly list in overseas markets without prior or subsequent listing in Indian markets. But following the changes made in the ‘Consolidated FDI Policy’ in this regard, they would be allowed to do so.

As per revised FDI Policy:

Unlisted firms are allowed to directly list abroad only on exchanges in International Organisation of Securities Commissions (IOSCO)/ Financial Action Task Force (FATF) compliant jurisdictions or those jurisdictions with which SEBI has signed bilateral agreements.

The companies will be allowed to raise capital abroad and use the same for retiring outstanding overseas debt or for operations abroad including for acquisitions.

If the funds raised are not utilised abroad, the company should repatriate the funds to India within 15 days and park it with a scheduled bank and may be used domestically.

The listing companies raising funds overseas would have to be fully compliant with the FDI policy.

The listing firms would also have to abide by the guidelines on downstream investment and the criteria of eligibility of who can raise funds through ADRs/GDRs would be as prescribed by the government.

The scheme will be implemented on a pilot basis for a period of 2 years. 

Why has the government allowed unlisted firms to raise capital abroad?

The government has set a target to slash the CAD to below $56 billion this fiscal (2013-14), as against $88.2 billion in the last financial year. The value of Rupee versus US dollar has declined drastically because of high CAD and other global factors. The government’s step to allow the unlisted companies to raise capital abroad would help in easing the pressure on CAD as the firms would not have to buy or borrow the foreign currency (mainly dollars) from domestic markets which puts strain on CAD. Besides, the step may also improve CAD if the unused capital is sent back home to a scheduled bank or utilized domestically.

Congress victorious in Mizoram Assembly polls 2013

December 13, 2013     No comments

Mizoram Assembly poll results are out and Congress has defeated its main rival Mizo National Front (MNF) by a huge margin. Although Congress faced debacle in the assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh and Delhi, it has managed to save face in Mizoram by registering a second consecutive win in the small Christian-dominated state that MNF once wanted to take out of the Indian Union.

It is Congress’ fourth electoral win after Mizoram attained statehood in 1987, following the signing of the historic 1986 Mizo Accord between the Centre and MNF led by the legendary Laldenga.

Results:

Of the total 40 seats Congress clinched 33 seats limiting its opponent MNF to a just 5 seats.  Many give the credit of Congress’ triumph to Lal Thanhawla‘s popular Congress New Land Use Policy (NLUP), which was evolved to tackle jhum or shifting cultivation. Four-time chief minister Lal Thanhawla (71) has won from 2 seats – Serchhip and Hrangturzo. It is his 9th electoral win since Mizoram became a Union territory in 1972 and a full-fledged state in 1987.

PepsiCo appointed D Shivakumar as head of Indian region

Beverages and food giant PepsiCo India appointed former Nokia senior executive D. Shivakumar as the company’s new chairman and chief executive officer (CEO) for the Indian region.

What type of responsibilities will D.Shivakumar look after?

Oversee all aspects in India, including the Pepsi-Cola, Lay’s, Slice, Kurkure, Tropicana, Quaker and NourishCo (a joint venture with Tata Global Beverages) brands.

Responsible for deploying the Rs. 33,000  crore  investments  in  India  that  PepsiCo  announced  last  month.

Also look after the franchise businesses in Bangladesh, Nepal, Bhutan, Sri Lanka and the Maldives.

 

Note: He will succeed  Gautham  Mukkavilli,  current  General  Manager  for  PepsiCo  India Beverages( who  has  been  named  the  senior  Vice-President  ,  Business Transformation – AMEA at PepsiCo).

Raman Singh takes oath as Chhattisgarh CM

Raman Singh (61) of BJP was sworn in as Chief Minister of Chhattisgarh for the 3rd term in row. Governor Shekhar Dutt administered Singh the oath of office and secrecy during a grand swearing-in ceremony.

Raman Singh has retained the CM post as the BJP registered victory by winning 49 of the 90 seats. Congress could manage 39 seats in the 90-member Assembly while the rest of the 2 seats were bagged by BSP and an Independent each.

With this, Singh has now joined the elite club of BJP chief ministers who have scored three consecutive terms in their respective states.

IOC ranked No.1 on India’s Fortune 500 list

According to the latest annual list of Fortune 500 companies in India published by business magazine Fortune, state-run Indian Oil Corp (IOC) is country’s biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place.

Indian Oil Corp (IOC) was the biggest with annual revenue of Rs 4,75,867 crore, followed by Reliance Industries (RIL) with a full-year revenue of Rs 4,09,883 crore. This is followed by Bharat Petroleum (Rs 2,44,822 crore) at the third place and Hindustan Petroleum (Rs 2,17,771 crore) at fourth.

As per Fortune 500, India Top 10 Companies are:

Rank

Company

 1. Indian Oil Corporation (IOC)

 2. Reliance Industries Limited (RIL)

 3. Bharat Petroleum

 4. Hindustan Petroleum

 5. State Bank of India

 6. Tata Motors

 7. ONGC

 8. Tata Steel

 9. Essar Oil

 10. Coal India

Reliance Jio, Bharti Airtel join hands for sharing telecom infrastructure

Bharti Airtel, has inked an infrastructure-sharing agreement with the telecom subsidiary of Reliance Industries.

The deal will allow the telecom unit, Reliance Jio, to access Bharti’s nationwide infrastructure while Bharti will have in return access to the optic fibre capacity established by Jio in future. As a result, RIL might be able to kick off telecom and broadband services in the near future by utilizing Bharti’s infrastructure, much earlier than if it had to create its own infrastructure. It has slashed Reliance Jio’s time to market by several years.

Airtel will also benefit from the deal as its cash flows will be boosted by lease rentals from Jio.

The deal is also extended to jointly laying optic fibre and starting other forms of infrastructure services.

This is the second infrastructure-sharing deal between the two companies. In April 2013, both had entered into an agreement under which Bharti has provided capacity on its i2i submarine cable to Reliance Jio.

Uruguay becomes first country to legalize sale and production of marijuana

December 13, 2013     No comments

Uruguay has become the first nation in the world to make it legal to grow, sell and consume marijuana. The country’s parliament has passed the government-sponsored bill which allows registered Uruguayans over 18 to buy up to 40g (1,4oz) of the drug a month.

Though possession of the drug is not a crime in the country, but with this legislation coming into effect in April 2014, the price of marijuana will be set at 1 dollar per gram, aiming to undercut the current price of $1.40 in the illegal market. A specialized body would be set up by the government to regulate the sale and production of the drug and it will administer a database of adult citizens registered to consume marijuana. The law would permit registered Uruguayans over the age of 18 to buy up to 40 grams of marijuana from pharmacies every month and cultivate a maximum of 6 plants on their property a year. The legislation will also permit for the creation of so-called cannabis clubs, composed of up to 45 members who will be able to grow a maximum of 99 plants a year.

Why Uruguay is legalizing marijuana trade?

The government of Uruguay intends to curb the market of illegal marijuana this new legislation as its previous attempts and policies have failed. The law is an experiment programme under which the government will sell the drug at a price lower than that in the illegal markets to defeat them and push them out of this business. It will also be able to tax the revenue generated from it. The whole programme will be regulated and administered by the government.

Criticism:

The project has drawn national and international criticism. The International Narcotics Control Board (INCB) has warned that the law would be in complete contravention to the provisions of the international drug treaties to which Uruguay is signatory. As per health experts, this move would encourage the drug market and would cause social damage as marijuana is highly addictive and is 15 times more carcinogenic than tobacco. It produces psychological disorders like depression, anxiety and – for heavy consumers – schizophrenia.

What is International Narcotics Control Board (INCB)?

The International Narcotics Control Board (INCB) is an independent body of experts established by the United Nations to monitor countries’ compliance with international drug treaties.

US and UK spying on virtual world, online games

As per the secret documents disclosed by whistle-blower Edward Snowden, in an effort to identify terrorist threats, US and British spies have reportedly penetrated the massive communities playing video games such as World of War craft, etc.

Why are US and UK intelligence agencies fearing from online gaming platform?

US and British intelligence fear that the terrorists could use the hugely popular platform to plot attacks, as online gaming is a big business attracting tens of millions of users worldwide who inhabit their digital worlds as make-believe characters, living and competing with the avatars of other players.

Why there are concerns on the spying of online games?

The US and UK spying agencies conducted operations illegally; not taking permission from the authorized owner of the online games. This has raised concerns over the privacy of the online-gamers. It is however, unclear that how these agencies accessed the data, or how many communications were collected. It is also not clear how the NSA ensured that it was not monitoring innocent Americans whose identity and nationality may have been concealed and compromised behind their virtual avatar.

Supreme Court restricts the use of red beacon light on vehicles

The Supreme Court has banned the use of red beacon light with flashers on all vehicles except those used by high dignitaries holding constitutional post; also banned pressure horns, multiple sound emitting horns and musical horns in vehicles.

The court passed the order on a PIL filed by Uttar Pradesh resident Abhay Singh on misuse of red beacon.

Why the Supreme Court restricted the use of red beacons?

The apex court stated that the red lights represent power and create an arrant difference among those who are allowed to use it and the ones who are not. But a large number of those using vehicles with red lights have neither respect for the laws of the country, nor they treat the ordinary citizens with respect. Even criminals were getting away using red lights because the police were too “scared” to stop a car with a beacon. So, to avoid such practices, the court decided to restrict them.

As per the directions of Supreme Court:

The term “high dignitaries” used in proviso (iii) to Rule 108(1) of the 1989 Rules takes within its fold the holders of various posts, positions and offices specified in the Constitution.

The motor vehicles carrying “high dignitaries” specified by the Central Government and their counterparts specified by the State Government may be fitted with red lights but the red lights with or without flasher can be used only while the specified high dignitary is on duty and not otherwise.

The State Governments and Administration of Union Territories cannot enlarge the scope of the term “high                dignitaries” beyond what is prescribed in clauses ‘c’ and  ‘d’ of Notifications dated 11.1.2002 and 28.7.2005 issued by the Central Government. Therefore, they shall amend          the relevant rules and notifications to bring them in tune with the 1989 Rules and notifications dated 11.1.2002 and 28.7.2002 issued by the Central Government. This exercise must be completed within a period of three months.

The men  in uniform; operational agencies which require un-hindered access to the roads for performance of                their duty; those engaged in emergency duties such as ambulance services, fire services, emergency maintenance etc, and police vehicles used as escorts or pilots or for law and order duties shall  not be entitled to have red lights but lights of other colours, e.g., blue, white, multicoloured etc…

No motor vehicles except those specified in Rule 119(3) of  the 1989 Rules or similar provisions contained in the rules framed by the State Governments or the Administration of Union Territories shall be fitted with multi-toned horns giving a succession of different notes or with any other sound       producing device giving                an unduly harsh, shrill, loud or alarming noise.

The police officers and other authorities entrusted with the task of enforcing the provisions of the 1988 Act and the Rules framed thereunder must discharge their duties without any fear or favour and should impose appropriate penalty on those who violate  the prohibition contained in Rule 108(1) and Rule 119 and similar rules framed       by  the         State Governments and the Administration of Union Territories. The owners/users of the vehicles fitted with multi- toned horns other than those allowed to use such horns under Rule 119(3) of the 1989 Rules or corresponding rules framed by the State Governments and the Administration of the Union Territories shall, within a period of one month from today, remove the multi toned  horns. The officers authorised to enforce the provisions of the 1988 Act and the rules framed thereunder by the Central Government, the State Governments and the Administration of Union Territories shall also ensure that multi-toned horns are removed from all the vehicles except those specified in rule 119(3) of the 1989 Rules or corresponding rules framed by the State Governments and the   Administration of Union Territories.

The Chief Secretaries of all the States and the Administrators of Union Territories shall cause a notice published in the newspapers having wide circulation in their respective States and the Union Territories incorporating the directions contained in this order.

VIPs who can use Red beacons while on duty:

LIST A: (With Flasher)

President; Vice President; Prime Minister; ex-Presidents; ex-PMs; deputy PM; CJI and SC Judges; LS Speaker; Union Cabinet Ministers; plan panel deputy chairperson; leaders of opposition in LS and RS.

LIST B: (Without Flasher)

CEC; CAG; Union Mos & dy ministers; LS deputy speaker; RS dy chairman; plan panel members; AG; Cabinet secy; services chiefs & officiating chiefs of staff; heads of CAT, UPSC, minorities commission, SC & ST commission.

PFBTA: Newly discovered greenhouse gas ’7,000 times more potent than CO2′

Researchers at University of Toronto have discovered a new greenhouse gas that is 7,000 times more powerful than carbon dioxide to cause greenhouse effect which causes warming of the Earth.

As per the scientists, the newly discovered gas, PerFluoroTriButylAmine (PFTBA), has been in use by the electrical industry since the mid-20th century.

The discoverers have claimed that PFTBA which does not occur naturally has the highest radiative efficiency of any molecule detected in the atmosphere up to now.

The study showed that PFTBA was 7,100 times more powerful at warming the Earth over a 100-year time period than CO2. This gas remains in the atmosphere for about 500 years, and unlike CO2 which is absorbed by forests and oceans, there are no known natural “sinks” on Earth to absorb it.

Do we need to worry about PFTBA? 

Not at current levels. The current concentration of PFTBA in the atmosphere is very low as compared to CO2 so it does not displace the focus of our concerns from the burning of fossil fuels such as oil and coal as the main drivers of climate change. However, higher concentration of the gas would contribute to a serious global warming. So we need to ponder over using such compounds in large quantity without first understanding their impact on climate change.

RBI grants license to Doha Bank to start banking operations in India

he Reserve Bank of India has granted license to Doha Bank to start banking operations in India and has allowed it to open a branch in Mumbai to provide full-scale banking services.

Doha Bank which is the largest commercial bank in the state of Qatar intends to expand its operations at the local, regional and international levels. The bank will soon start operations as a foreign bank branch in Mumbai and will offer wholesale banking, retail banking, treasury and trade finance services to all customers in India.

This licence will further boost the niche role Doha Bank is playing and facilitating the movement of trade between Qatar and India. Qatar-India bilateral annual trade is about $16 billion and there are huge opportunities of growth available in infrastructure and other sectors in India.

There is a large diaspora of Indian population in Qatar and various Indian companies are active in infrastructure projects. As per Doha Bank, the licence will pave the way for the bank to support all expatriates with its solutions especially remittance solutions.

Mr. Ranjan Mathai appointed India’s High Commissioner to the UK

The External Affairs Ministry appointed former Foreign Secretary Ranjan Mathai as India’s High Commissioner to the United Kingdom. He succeeded Jaimini Bhagwati, who retired recently.

About Mr. Ranjan Mathai

An IFS officer of 1974 batch, who retired as Foreign Secretary this year.

Played a critical role in the Indo-Bangla Ganges Water Sharing accord during Sheikh Hasina’s first stint as the Prime Minister.

Apart from serving as India’s Ambassador to France, he also had postings in Israel and Qatar among other places.

Note: The Commonwealth of Nations is an intergovernmental organization of 53 member states that were mostly territories of the former British Empire.  In them, a High Commissioner is the senior diplomat (ranking as ambassador) in charge of the diplomatic mission of one Commonwealth government to another. There are a few technical differences, like Ambassadors present their diplomatic credentials to the host country’s head of state; High Commissioners are recognized to the head of government, etc.