India tops new Global Slavery Index

October 18th, 2013

Global Slavery Index published by the Australia-based Walk Free Foundation, ranked India first in terms of number of modern day slaves in the world. The index has ranked 162 countries based on 3 factors:1. Estimated prevalence of modern slavery (including practices such as debt bondage, etc.) 2. A measure of child marriage (including forced marriage) 3. A measure of human trafficking in and out of a country (including sale or exploitation of children as well as human trafficking and forced labour) There are 29.6 million people in modern slavery globally out of which 13.3 to 14.7 million live in India. Ranking as per number: 1. India 2. China 3. Pakistan 4. Nigeria 5. Ethiopia 6. Russia 7. Thailand 8. Democratic Republic of Congo 9. Myanmar 10. Bangladesh These 10 countries account for 76% of the worlds modern slaves. Ranking as per % of population:1. 2. 3. 4. 5. 6. Mauritania Haiti Pakistan India Nepal Moldova

Govt proposes to build storage facilities for steady flow of foodgrains under Food Security Act
October 18th, 2013

The Central Govt is planning to set up intermediate grain storage facilities at block level in each state. Objective: To ensure steady flow of foodgrain under the National Food Security Act.

Funding: Entirely centrally sponsored. Centre will provide Rs 450 crore while the land for construction will be given by the states that are willing to come up with these facilities. The proposed storage facilities will be constructed under the MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act). The plan to build storage facilities under MGNREGA will need an amendment in Schedule 1 of MGNREGA.

Wal-Mart gets clean chit in FEMA case

October 18th, 2013

Worlds largest supermarket chain Wal-Mart, got a clean chit from ED (Enforcement Directorate) in the FEMA (Foreign Exchange Management Act) violation case.
Why a clean chit to Wal-Mart in FEMA Case?

Since Government has allowed FDI in multi-brand retail and also made provision for retrospective regularization of investments. Therefore, a case of violation couldnt be made against Wal-Mart.
What clean chit in FEMA Case means for Wal-Mart?

Now, Wal-Mart can go after its Indian plans more aggressively.

6 Tata Group companies, Bharti Airtel and Mahindra & Mahindra amongst most transparent companies Transparency International
October 18th, 2013

As per the anti-corruption watchdog Transparency International, 6 Tata Group companies, Bharti Airtel and Mahindra & Mahindra were in its list of top 10 list of corporate entities among emerging market economies in terms of transparency in corporate reporting. 1. Tata Communications 2. Tata Global Beverages and Tata Steel 3. Bharti Airtel The companies across the emerging economies Brazil, Russia, India, Chinaand South Africa, were ranked in a scale of 0-10 in terms of transparency. The index was based on the unweighted average of results in 3 categories:1. Result for reporting on anti-corruption programmes 2. Result for organizational transparency 3. Result for country-by-country reporting. China got the lowest rating of the BRICS economies. Indian firms perform best in the BRICS.

Great Indian Bustard in critically endangered stage

October 18th, 2013

As per the 2013 Threatened Bird list by theInternational Union for Conservation of Nature (IUCN), the Great Indian Bustard is listed under the category of Critically Endangered birds. The Great Indian Bustard (Scientific name: Ardeotisnigriceps) was once widely spotted across 11 Indian states, but now only less than 250 birds are left all across India. The destruction of the habitat is a primary threat to the birds endurance. The Great Indian Bustard is endemic to the Indian subcontinent. The Great Indian Bustard lives in shortgrass plains and deserts in large arid landscapes.
Key reasons for the decrease in count of the Great Indian Bustard:-

1. Habitat destruction- The change of land use from grassland to farmland, thus shrinking the birds habitat. 2. Poaching. 3. Degradation and disturbance in existing grassland habitat 4. Hunting 5. Lack of importance for natural grassland conservation in policy, law and PA network due to incorrect perception on ecological value vis-a-vis forests 6. Lack of protection for many lekking and nesting sites 7. Lack of cooperation between different departments/stakeholders in GIB habitats 8. Lack of awareness and support from local communities 9. Livestock overgrazing and feral dogs 10. Disturbance by photographers there is now plenty anecdotal evidence to demonstrate that photography of the species causes substantial disturbance In a recent judgement, the Supreme Court had directed the Ministry ofEnvironment and Forests to take steps for the recovery of the Great Indian Bustard.
Status of the Great Indian Bustard

The Great Indian Bustard is now confined to only eight pockets in 6 Indian states Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Karnataka and Andhra Pradesh. The largest population (~50%) can be found in Jaisalmer, Barmer, and Bikaner districts of Rajasthan Great Indian Bustard is the State Bird of Rajasthan. Bird may be already extinct in Madhya Pradesh.

Co-operative societies do not come under RTI Supreme Court

October 18th, 2013

Supreme Court held in a decision that the Co-operative societies do not fall within the ambit of Right to Information (RTI) Act. The decision was given while the apex

court annulled a Kerala government circular to bring all such societies within the scope of the RTI Act.
What was the contention given by the Supreme Court bench?

The bench held that the Co-operative societies are subject to the control of the statutory authorities like Registrar, Joint Registrar, the Government, etc. but it cant be said that the State exercises any direct or indirect control over the affairs of the society which is deep and all permeant. The power exercised by the Registrar over the societies is merely supervisory and regulatory. The mere supervision or regulation as such by a statute or otherwise of a body would not make that body a public authority within the meaning of Section 2(h)(d)(i) of the RTI Act.

Plan to bring all Post Offices across India under the Core Banking Solution System
October 18th, 2013

The Central Govt has planned to add all the post offices throughout Indiaunder the core banking solution system. Objective: To bring more rural areas with AADHAAR seeded accounts. Ms Nidhi Khare (the Adviser to the Planning Commission) held that the move will assist the people to utilize the benefits of several schemes including Old Age Pension and MGNREGA via Direct Benefits Transfer. AADHAAR card may be utilized as an identity and residential proof for opening bank a/c for a person.

Cabinet cleared revised Preferential Market Access (PMA) for electronic equipments
October 17th, 2013

The Cabinet approved a revised version of the Preferential Market Access (PMA) policy that will apply to the supply of electronic and telecom equipment that has security implications. Preferential Market Access (PMA) policy linked to telecom equipment and other electronic products having security implications has been cleared.
What is Preferential Market Access (PMA) policy?

PMA policy will severely restrict the market participation opportunities for foreign companies in key sectors of the Indian economy. The policy requires certain domestic content percentages in public procurement contracts and in commercial transactions where electronic products raise security concerns. It will give support to Indian players and it will enable entrepreneurs to start their own product companies. PMA provides for sourcing of sensitive telecom and electronic equipments and technology from domestic manufacturers over security concerns. PMA makes it mandatory for the Government to procure a certain percentage of its requirements from domestic manufacturers. The policy is designed keeping in mind the security issues and threat of cyber espionage. It is envisaged to push manufacturing capabilities in Indiaitself, thus reducing dependence on imports, especially in strategic fields like defence and telecom.

What does Govt fear? Why need for PMA policy?

Govt fears that there is a possibility of malicious codes being implanted during manufacturing, after installation of the electronic items in the network, or some time in between. Thus, Department of Electronics and Information Technology (DeitY) has stressed that PMA applies to procurement for both government entities and entities that impact national security. In January 2013, the Department of Telecom (DoT) circulated a list of 14 security-sensitive telecom products, and proposed to mandate its sourcing to Indian companies alone. Indias telecom industry at present relies heavily on imports to meet its requirements. As per TRAI, India-made products form only 3% of the market. India imports about electronic items worth US $40bn every year. The National Electronics Policy forecasts such imports to touch a humongous USD 300 billion by 2020 if efforts are not made to produce hi-tech products in India.

Syria officially joins UN chemical weapons pact

October 17th, 2013

UN confirmed that it has received documents from Syria on joining the Chemical Weapons Convention. The convention requires all parties to declare and destroy all of the chemical weapons they possess. Organisation for the Prohibition of Chemical Weapons (OPCW) has the job is to implement the Chemical Weapons Convention, a treaty which came into force in 1997 and which requires all member nations to eliminate their chemical weapons stocks and related facilities. The Norwegian Nobel Committee recently awarded the OPCW the Nobel Peace Prize 2013 for its extensive efforts to eliminate chemical weapons. OPCW was created in 1997. OPCW is based in The Hague, Netherlands Full name of the treaty: The Convention on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction The treaty entered into force in 1997. Syria is the 190th country to join the convention. Only 6 UN states have yet to sign the international treaty, they are: Angola, Burma, Egypt, Israel, North Korea and South Sudan.

Indian Railways take measures to prevent misuse of Izzat Monthly Season Ticket
October 17th, 2013

Ministry of Railways has taken further steps to make sure that the Izzat Monthly Season Ticket (Izzat MST) scheme actually reaches to the people belonging to low income category. These steps were taken in an order to prevent misuse of the scheme. Under the new measures, following has been decided:

1. Income certificates issued by the authority for issue of Izzat MST, will also be verified by local Government Officials such as BDO, Tehsildar, etc. 2. A copy of the proof of residence such as Voter Identify Card, Driving License, Electricity Bill, etc. would also be retained for issue of the Izzat monthly season tickets and the original should also be inspected. 3. There shall be no change in other conditions of the Izzat monthly season ticket.
What is Izzat MST (Izzat MST) Scheme?

This scheme was announced by Ministry of Railways in the Railway Budget 2009-10. Under this scheme, uniformly priced Monthly Season Tickets (MSTs) at Rs. 25/inclusive of all surcharges which will be issued upto a distance of 100 Kms to persons working in unorganised sector with monthly income not exceeding Rs. 1500/-.

Latest telecom subscriber database released by TRAI

October 17th, 2013

Indias telecom subscriber base expanded marginally to reach 90.44 crore in July 2013, as per latest telecom subscription data from TRAI (Telecom Regulatory Authority of India). Total number of subscribers: 904.46 million Net addition: 1.37 million subscribers during July Subscriber base from Urban areas: 548.85 million Subscriber base from Rural areas: 355.60 million Teledensity: 73.54 (Out of this urban: 60.68% and rural: 39.32%) Mobile Number Portability (MNP) requests: 97.82 million at end of July 2013 (was 95.59 million at June 2013 end)

39 Serial sites of Western Ghats in recently updated World Heritage Sites list
The Western Ghats (Sahayadri in Hindi) is recognised as one of the worlds eight hottest hotspots of biological diversity. The list declared in 2012 by the United Nations contains total 39 sites where Kerala leads with 20 sites being inscribed in the heritage list followed by Karnatakawith ten, Tamil Nadu five and Maharashtra four. The list includes the individual sites listed in the following table.

State

Sites

1. Kaas Plateau 2. Koyna Wildlife Sanctury Maharashtra 3. Chandoli National Park 4. Rathnagiri National Park 1. Kalakad- Tiger Reserve 2. Shendurney Wildlife Sanctuary 3. Neyyar Wildlife Sanctuary Kerala-Tamil Nadu 4. Peppara Wildlife Sanctuary 5. Kulathupuzha Range 6. Palode Range 7. Periyar Tiger Reserve

8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24.

Ranni Forest Division Konni Forest Division Achankovil Forest Division Srivilliputtur Wildlife Tirunelveli North Forest Division Eravikulam National Park Grass Hills National Park Karian Shola National Park Parambikulam Wildlife Sanctury Mankulam Range, Chinnar Wildlife Sanctuary Mannavan Shola Silent Valley National Park New Amarambalam Reserve Forest Mukurti National Park Kalikavu Range Attapadi Reserved Forest 25. Pushpagiri Wildlife Sanctuary 1. 2. 3. 4. 5. 6. 7. 8. 9. Brahmagiri Wildlife Sanctuary Talacauvery Wildlife Sanctuary Padinalknad Reserved Forest Kerti Reserved Forest Aralam Wildlife Sanctuary Kudremukh National Park Someshwara Wildlife Sanctuary Someshwara Reserved Forest Agumbe Reserved Forest 10. Balahalli Reserved Forest

Karnataka

Later the government appointed a High-Level Working Group led by K. Kasturirangan to study the report and provide suggestions. K. Kasturirangan-led 10-member panel High-Level Working Group (HLWG) Presented its report on Western Ghats to MoEF (Ministry ofEnvironment and Forests) K. Kasturirangan-led 10-member panel High-Level Working Group (HLWG) prepared a report on Western Ghats which suggests for ban on development activities in 60,000 sq km ecologically sensitive area spread over Gujarat, Karnataka, Maharashtra, Goa, Kerala and Tamil Nadu. Objective: K.Kasturirangan panel was formed to study and advise Govt on the earlier report of ecologist Madhav Gadgil-led Western Ghats Ecology Expert Panel (WGEEP). Some Facts: Around 37% of the total area defined as the boundary of the Western Ghats is ecologically sensitive.

This area is of about 60,000 sq km and it spreads over the states of Goa, Gujarat, Karnataka, Kerala, Maharashtra and Tamil Nadu.
What were the key suggestions made by the K. Kasturirangan led HLWG?

K.Kasturirangan panel has moved away from the suggestions of the Gadgil panel. The HLWG has suggested a prohibitive regimen on those activities which have the most interference and harmful impact on the environment. The report notes, environmentally sound development cannot preclude livelihood and economic options for this region, the answer (to the question of how to manage and conserve the Ghats) will not lie in removing these economic options, but in providing better incentives to move them towards greener and more sustainable practices . Promotion of Ecotourism along the ecologically-volatile Western Ghats to preserve the depleting natural wealth of the area Economically empower the local population Incentivize green growth in the Western Ghats i.e. supervising forests and bettering their productivity to ascertain inclusive growth and economical gains for local communities; integrating forest accounts into state and national economic assessments; initiating an ecosystem service fund to help villages around the forests; promoting sustainable agriculture and; encouraging ecotourism for local benefits. Establish a Decision Support and Monitoring Centre for Geospatial Analysis and Policy Support in the Western Ghats, which will supervise changes and propose state government on policy reform and all such reports must be in the public domain. High-resolution map, delimiting ecologically sensitive areas, down to each village settlement, must be put in the public domain so that people can be involved in taking decisions about environment. The HLWG report draws upon the basic framework suggested by WGEEP to use remote sensing technologies to demarcate the ecologically sensitive areas of the Western Ghats but with two key differences:First: it used satellite data, down to 24 m resolution, as against 9 km used by WGEEP. This finer resolution was possible because of the collaboration with NRSC/ISRO, which used datasets to distinguish vegetation types over the landscape of the entire Western Ghats. Second: it distinguishes between the cultural and the natural landscape of the region. Using remote sensing technology, it has found that the cultural landscape which includes human settlements, agricultural fields and plantations covers 58.44% of the region. The natural landscape ranges over the remaining 41.56 %. Thus, HLWG moved away from the suggestions of the Expert Panel, which had recommended a blanket approach consisting of guidelines for sector-wise activities, which would be permitted in the ecologically sensitive zones.

What were the key suggestions made by the Madhav Gadgil led WGEEP earlier?

Earlier, the WGEEP had suggested that: Entire Western Ghats be declared as an ecologically sensitive area. 3 levels of categorization for the regulatory measures for protection would be imposed. Establishment of the Western Ghats Ecology Authority for management of the Ghats. A blanket approach comprising of road map for sector-wise activities, which could be permitted in the ecologically sensitive zones.

World observed International Day of the Girl Child October 11, 2013
October 11th, 2013

International Day of the Girl Child was observed globally on October 11, 2013 to recognize the girls rights and the unique challenges girls face around the world.
The theme for the year 2013: Innovating for Girls Education

The theme focuses on smart and creative use of technology, policies, partnerships and, most of all, the engagement of young people, themselves, as the important tools and steps for overcoming barriers to girls learning and achievement. The day promotes girls human rights and draws attention to gender inequalities that persists between girls and boys and addresses the various forms of discrimination and abuse suffered by girls around the world.

GSKs malaria vaccine trial successful

October 11th, 2013

Britains pharmaceutical giant GaxoSmithKline (GSK) has successfully conducted the trial of the RTS,S vaccine developed by the company. In the results of the trial it was found that the vaccine nearly halved the cases of malaria experienced by children aged between five and seven months and cut the number of cases in babies aged 6 to 12 weeks by a quarter.
How would the RTS,S vaccine help?

Around 660,000 people die from malaria every year, most of them small children under the age of five. There are about 219 million cases of the disease a year worldwide, and children who survive the serious illness can suffer damage to their health and development in their lifetime afterwards. A vaccine, like RTS,S, could significant reduce the number of cases and deaths from this disease.

Obama nominates Janet Yellen as the next head of US Federal Reserve Board
October 11th, 2013

Ms Janet L. Yellen as the new head of the Federal Reserve Board. She will replace Ben Bernanke as Chair of the Federal Reserve Board. Prior to her nomination, Yellen served as vice Chairman of the Board of Governors of the Federal Reserve System. She would be the first woman to lead the Federal Reserve Board and also the first Democrat to head the Board since 1979.

Prithvi-II missile test fired successfully from Odisha

October 11th, 2013

India successfully test-fired its indigenously built nuclear-capable Prithvi-II missile with a strike range of 350km from a test range at Chandipur, Odisha. The missile was randomly chosen from the production stock and the total launch activities were carried out by the specially formed Strategic Forces Command (SFC) and monitored by the scientists of DRDO as part of a practice drill.
About Prithvi-II Missile

Indigenously developed by DRDO as the first missile to be developed under Indias prestigious IGMDP (Integrated Guided Missile Development Program) Nuclear capable 350 km strike range Can carry 500kg to 1000kg of warheads Liquid propulsion twine engines Advanced inertial guidance system with manoeuvering trajectory Inducted into Indias Strategic Forces Command in 2003

India-Bangladesh power transmission link opened

October 11th, 2013

In a historic event, Prime Minister Manmohan Singh inaugurated the India- Bangladesh Grid interconnection in Bangladesh through a video-conference. The key 71-km Baharampur-Bheramara transmission link between the electricity grids of the two countries will boost the ties between the two nations. The link would facilitate cross-border electricity transfer of up to 500 mega watt (MW) from India to Bangladesh. The grid interconnection between the two countries through a 500MW High Voltage Direct Current (HVDC) between the eastern region of India and western grid of Bangladesh has being designed in such a manner that it would enable control of power transfer in either direction up to the capacity of the HVDC buffer, depending upon the availability and demand on either side.

Under the arrangement, a total of 500 MW of power is initially slated to flow from India to Bangladesh, of which 250 MW would be from the Centres unallocated quota of power (at rates notified by the Central Electricity Regulatory Commission) and the other 250 MW to be contracted by Bangladesh from the Indian electricity market. The capacity of the interconnection can be increased to 1,000 MW in due course.

Double food subsidy, grains to Bihar: Jairam Ramesh

October 11th, 2013

According to Union Minister for Rural Development, Bihar would get double foodgrain allocation and food subsidy following the implementation of National Food Security Act (NFSA). It would make Bihar the biggest beneficiary of the NFSA and the state would start getting 56 lakh tonnes of foodgrains per annum against its current allocation of 28 lakh tonne per annum. Similarly, the food subsidy allocation to Bihar would increase to Rs 11,500 crore per annum from the current Rs 5,500 crore.
Other major beneficiaries of National Food Security Act (NFSA):

Uttar Pradesh: 96 lakh tonnes of foodgrains per annum against its current allotment of 65 lakh tonnes Gujarat: 24 lakh tonnes from the current allocation of 13.5 lakh tonnes per annum

SEBI merges FIIs and QFIs into new FPIs category

October 10th, 2013

Stock market regulator, the Securities Exchange Board of India (SEBI) announced Foreign Portfolio Investor (FPI) regulations aimed at wooing foreign investors. SEBI, through these new rules, intends to ease the registration process and operating framework for foreign investors. Under FPIs, SEBI has included all Foreign Institutional Investors (FII) and Qualified Foreign Investors (QFI). What are the key features of the new FPI regime? Under the new FPI regulations, SEBI has merged all existing FIIs and QFIs in the new FPIs class. The FPI class will be divided in three categories as per their risk profile. 1. Category I FPIs: It would enlist the the lowest risk entities including foreign governments and government related foreign investors. 2. Category II FPIs: It would comprise of broad based funds, appropriately regulated entities, funds whose investment manager is appropriately regulated, university funds, university related endowments, pension funds etc. 3. Category III FPIs: It would cover all others not eligible under the first two categories SEBI has also approved setting up Designated Depository Participants (DDPs), which would register FPIs on behalf of the market regulator subject to compliance with KYC norms. The new FPI regime makes the KYC norms and other registration procedure much simpler as compared to existing process.

FPIs will be granted permanent registration. Currently foreign investors are given only one year or five year approval to invest in the country.

India tops the list of recipient of foreign remittances

October 8th, 2013

As per the World Bank report- Migration and Remittance Flows: Recent Trends and Outlook-2013-16, India is the largest recipient of foreign remittances among developing economies in 2013.
Migration and Remittance Flows: Recent Trends and Outlook-2013-16 report:

Non-Resident Indians (NRI) remitted a record $71 billion in 2013 compared to $70 billion in 2012. The remittances are likely to increase to $85 billion annually by 2015. India and China will represent nearly 1/3rd of total remittances to the developing world in 2013. For India, nearly 40% of the remittances came from the gulf countries while 48% flowed from South Asian countries. The developing world is expected to receive $414 billion in migrant remittances in 2013, an increase of 6.3% over year 2012. This is projected to surge to $540 billion by 2016. Globally, the worlds 232 million international migrants are expected to remit earnings worth $550 billion in 2013 and over $700 billion by 2016.
The top recipients of officially recorded remittances for 2013 are:

India $71 billion China $60 billion The Philippines $26 billion Mexico $22 billion Nigeria $21 billion Egypt $20 billion As a percentage of GDP, the top recipients of remittances, in 2012, wereTajikistan (48%), Kyrgyz Republic (31%), Lesotho and Nepal (25% each), and Moldova (24%). The volume of remittances in India is larger than the income from IT exports. With the depreciation of the Indian rupee, a rise in remittances is expected as NRIs take advantage of the cheaper goods, services and assets back home.
What is Remittance?

A remittance is a transfer of money by a foreign worker to his or her home country or simply sending amount from one country to another.

Establishment of a Central Armed Police Forces Institute of Medical Sciences (CAPFIMS)

October 8th, 2013

The Union Cabinet has given nod to the proposal to establish a Central Armed Police Forces Institute of Medical Sciences (CAPFIMS), along with a 500-bed General Hospital, a 300-bed Super Specialty Hospital, a Nursing College and a School of

Paramedics. The Institute shall be registered as a Society under the Societies Registration Act, 1860 and shall have a Governing Body and a Governing Council, under the Ministry of Home Affairs.
Why Central Armed Police Forces Institute of Medical Sciences (CAPFIMS) is being set up?

The CAPFIMS is dedicated to fulfil the basic medical needs of CAPF personnel and their families keeping in view the nature of their service in which they have to stay away from their families for most of the duration of their service. The creation of the Institute will attract talented professionals in the CAPF and their retention, besides providing in-house training/ specialization/Post Graduate /Super Specialty Post Graduate courses to in-service health care professionals. This will not only boost the morale of the force personnel, but also provide required trained technical hands in the medical set up. The cost of CAPFIMS is Rs. 1366.53 crore and is expected to be completed over a period of 5 to 6 years. It will be established on a 48.80 acres land at Maiden Garhi, New Delhi.

GSI to induct Rs 600 crore Samudra Ratnakar for sea research

October 8th, 2013

The Geological Survey of India (GSI) will induct Rs. 600-crore state-of-the-art research vessel Samudra Ratnakar built by Koreanmanufacturer Hyundai Heavy Industries for survey and exploration of the seabed in Indian and international waters. It will be docked in Mangalore. The Mangalore-based Marine and Coastal Survey Division has already conducted over 700 research trips on its deep sea research vessel R.V. Samudra Manthan and twin coastal survey vessels, R.V. Samudra Kaustubh and R. V. Samudra Shaudhikama.
Deep sea and coastal survey by GSI:

Systematic multidisciplinary marine survey started after the acquisition of deep sea and coastal survey vessels in 1983-84. The surveys were conducted within Indian Exclusive Economic Zone (EEZ), Territorial Waters (TW) and adjoininginternational waters. Over 120 trained geologists, geophysicists and chemists are currently part of GSIs sea research team. Mangalore Division was the headquarters for all marine surveys and exploration in India by the GSI. In addition, it has seven operational offices at Kolkata, Bhubaneswar, Vishakhapatnam and Chennai, Cochin and Gandhinagar. Collection of bathymetric, magnetic, seismic and sediment distribution data within TW and EEZ of India is the current focus of GSI. GSI uses dual frequency single channel echosounder, multibeam echosounder and side scan sonar surveys to study the geomorphology of the seabed. It conducts petrological, palaeontological, chemical and geotechnical parameters of seabed sediments to understand the sediment distribution pattern, its characteristics and to assess the economic mineral potential of the shelf and offshore regions. It also studies sea level changes, palaeoclimate, coastal changes and geological history of the ocean basins.

GoI appoints panel to define FDI and FII

October 5th, 2013

Government of India set up a four member committee headed by Arvind Mayaram, Economic Affairs Secretary to clear the ambiguity between Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII). The panel will look into the difference between them and it will also give definition of FDI and FII. Finance Minister of India in his Budget speech (2013-14) had proposed to follow the international practice with regard to definitions of FDI and FII. He had said that if anyone investing in a company 10% or less is considered as FII and above 10% is considered as FDI.

Indian Railways inks deal with RINL to build Indias biggest Forged Wheel plant in Raebarelli
October 5th, 2013

The Indian Railways inked an agreement with Rashtriya Ispat Nigam Limited (RINL) to set up the countrys biggest Forged Wheel plant atLalganj, Raebarelli in Uttar Pradesh. The Plant to be set with an investment of about Rs 1100 crore will manufacture 1 lakh Forged Wheels per annum in the first phase. The capacity of the plant could be enhanced to double in the second phase to produce 2 lakhs Forged Wheels. The factory likely to be operational in around 3 years, and would provide direct employment to 500-600 local people and an indirect employment opportunity to about 2,000 people. The plant will bring down Indias dependence on imports of high speed forged wheels for trains. Forged wheels are stronger wheels required in the rolling stock for running longer trains at higher speed. The forged wheel factory will require about 50,000-60,000 tonnes of steel, which will be sourced from RINLs plant in Vizag.

CCEA approves Rashtriya Uchchatar Shiksha Abhiyan (RUSA)

October 5th, 2013

The Cabinet Committee on Economic Affairs (CCEA) approved theRashtriya Uchchatar Shiksha Abhiyan (RUSA), a Centrally Sponsored Scheme (CSS) for reforming the state higher educationsystem.
Key features of RUSA in the 12th Five-year Plan

RUSA will have a financial outlay of Rs 22,855 crore out of which Rs 16,227 crore will be borne by the Centre. Besides this, Centre will also allocate Rs 1800 crore for the existing scheme SubMission polytechnics. Total financial contribution from Centre, including the existing scheme of polytechnics, will be Rs 18,027 crore. Ratio of Centre-State funding would be 90:10 for North-Eastern States, Sikkim, Jammu and Kashmir, Himachal Pradesh andUttarakhand and 65:35 for other States and Union Territories. Spread over two plan periods, RUSA aims for improving access, equity and quality in the state higher education system. It also aims to incentivize States to step up plan investments in higher education.

What are the main objectives of RUSA?

The key objectives of RUSA are: Improve the overall quality of existing state higher educational institutions by ensuring adherence to the prescribed norms and standards and adoption of accreditation as a mandatory quality assurance framework. Rectify regional imbalances in access to higher education through high quality institutions in rural and semi urban areas as well as creating opportunities for students from rural areas to get access to better quality institutions. Establish higher education institutions in unserved and underserved areas. Improve equity in higher education by providing adequate opportunities to socially disadvantaged communities; encouraging inclusion of women, minorities, SC/ST and OBCs as well as differently-abled persons. Ensure adequate availability of quality faculty in all higher educational institutions and ensure capacity building at all levels Build an enabling atmosphere in higher educational institutions to devote themselves to research and innovation. Integrate skill developments efforts of the government with the conventional higher education system through optimum interventions. Future grants to RUSA would be performance based and outcome dependent. Commitment by States and institutions to certain academic, administrative and governance reforms will be a precondition for receiving funding.

US debt crisis could destabilize global economy: IMF

October 5th, 2013

The International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. IMF called it mission-critical and called for it to be resolved soon. According to IMF Chief Christine Lagarde: US must take corrective measures that do not hurt the recovery. At the same time, the US needs to do more to make debt sustainable by containing the growth of entitlement spending and raising revenues. Japan also needs a credible plan to curtail its debt, which is approaching 250% of GDP and amounts to about USD90,000 for every man, woman, and child in Japan. The fiscal and financial efforts must be complemented by structural reforms to make sure that policies to boost demand are supported by policies to boost supply. Increasing female participation in the labour force in Japan to match the G7 average would boost its per capita GDP by 4% by 2030. As G7 group of nations accounts for about 40% of world GDP, events in these regions has profound implications for the rest of the world. This calls for engagement at international level.

US government shuts down as budget couldnt be passed

October 5th, 2013

Having unable to pass the annual budget, the USgovernment has been shut down for the first time in past 17 years. The Democratic Party failed to break the impasse over the contentious President Barack Obamas healthcare law which is the central issue behind the opposition.
Why has the US government shut down happened?

The US Congress failed to pass the budget due to disagreement between the Republicans, who have majority in the lower house the House of Representatives and the Democrats, who control the upper house, the Senate. Since President Barack Obamas election, the parties have never come to a resolution on a US budget that extends further than a few months. Theyve just negotiated around the margins and come up with short-term fixes. Now, the Republicans are using budget deadlines to gain political leverage over contentious policies. This time the issue was Mr Obamas healthcare reform programme -the Patient Protection and Affordable Care Act (Obamacare) continues to be very controversial for a range of reasons. The Republican-controlled House of Representatives though approved budgets but eliminated funding of this programme or wanted it delayed by one year. The Senate rejected these demands. It lead to a deadlock situation and no budget bill could be agreed by both houses, resulting into the shut down.
How would US government shut down impact the US?

The shutdown affects more than 700,000 federal employees which have been furloughed with no guarantee of back pay once the deadlock is over. National parks, museums, federal buildings and services will all be closed. Pension and veterans benefit cheques could be delayed. However, workers like teachers, firefighters and doctors will continue to be paid, as they are paid for by the state, not the federal government.
What could be economic impact of the US government shut down?

The impact would depend on how much time it takes for Congress to reach an agreement on the budget. In past 30 years, the US government has experienced 18 shutdowns the latest in 1995, costing the economy over $1bn. As per IHS estimates, the daily cost in lost output will

be just $300m if the shutdown lasts only a few days, which is too small for an economy whose annual output is 52,000 times bigger. However, the daily impact of the economic shutdown may rise if it affects confidence and consumer spending, especially with hundreds of thousands of workers left unpaid. As per Goldman Sachs estimate, if the shutdown were to last about 3 weeks or so, it could deplete 0.9% from US GDP this quarter. It would also affect tourism with difficulties in renewing passports and driving licences thus hitting the transport and travel industries. The government workers may also have to draw from their savings or postponement mortgage payments and any other spending until unpaid leave ends. The main concern is if the shutdown extends to mid-October, when the legislative branch has to agree on raising the federal governments borrowing authority. Congress will need to meet a crucial deadline on October 17, 2013 to raise the governments $16.7 trillion debt ceiling - the limit at which it can borrow money to pay its bills.

BCCI awards sponsorship rights to Star Private Ltd and ESPN for 2013-14
October 5th, 2013

The Board of Cricket Control of India (BCCI) awarded Star Private Ltd and ESPN with the cricket sponsorship rights for all international series and the domestic tournaments in India for the year 2013-14 at the base price of Rs 2 crore per fixture. The right was previously with telecom giant Airtel. Sponsorship rights will extend to domestic events such as Irani Cup, Ranji Trophy, Duleep Trophy, Vijay Hazare, Deodhar Trophy and Raj Singh Dungarpur Trophy. The new deal is close on the heels of Airtelspartnership ending with the BCCI.

CCEA approves Jet-Etihad deal

October 5th, 2013

The Cabinet Committee on Economic Affairs (CCEA) gave clearance to Jet Airways proposed sale of 24% equity to Abu Dhabi-based Etihad Airways, setting stage for the biggest ever foreign investment in the Indian aviation sector. The deal is important to Jet, which is facing significant financial challenges, as it brings an equity capital of Rs 2057.66 crore. The deal will also help the Indian civil aviation industry by enhancing capacity, increasing competition and bringing down airfares. The deal has already received clearance from the Foreign Investment Promotion Board (FIPB) and the markets regulator SEBI. The clearance was given after both parties to the deal brought significant changes in the Shareholders Agreement (SHA) and Commercial Co-operation Agreement (CCA) after SEBI and FIPB raised doubts that the deal might give an upper hand to Etihad in the matters of control of the company. Indian government wanted to ensure that the ownership and major control of the company remained with Jet Airways.

Current Account Deficit (CAD) in Q1 surges to $21.8 billion

October 4th, 2013

As per the Reserve Bank of India (RBI), Indias Current Account Deficit (CAD) for the first quarter ended June 2013 has widened to 4.9% of Gross Domestic Product (GDP) compared to 4% in the same period of the previous financial year owing to a rise in imports and some decline in merchandise exports. If we subtract the increase in gold imports of $7.3 billion in the first quarter of 2013-14 over the corresponding quarter of the preceding year the CAD works out to $14.5 billion, which means 3.2% of GDP. The merchandise exports decreased by 1.5% to $73.9 billion in the first quarter of 201314 compared with a decline of 4.8% at $75 billion in the year-ago period. On the other hand, merchandise imports increased by 4.7% at $124.4 billion as against a decline of 3.9% at $118.9 billion, primarily owing to a sharp rise in gold imports in the first two months of the quarter. Despite a net outflow in portfolio investment, led by Foreign Institutional Investor (FII) debt outflows, net inflows under capital and financial account (excluding changes in foreign exchange reserves) rose by 25.2% to $20.5 billion in the first quarter of 2013-14 from $16.4 billion in first quarter of 2012-13. While net foreign direct investment surged to $6.5 billion in the Q1 of the current fiscal from $3.8 billion in the Q1 of 2012-13, net portfolio investment recorded a marginal outflow of $0.2 billion compared with an outflow of $2 billion, primarily led by the debt component of FII investment. However, net overseas borrowing by banks rose by 57.5% to $4.7 billion in the first quarter of 2013-14 from $3 billion in first quarter of 2012-13. Net External Commercial Borrowings (ECBs) at $0.4 billion remained same.

Supreme Court directs government to set up mechanism to monitor clinical trial of untested drugs
October 4th, 2013

The Supreme Court directed government to put in place a mechanism to monitor the clinical trials of untested drugs on humans. The Centre has been directed by the court to convene a meeting of Chief Secretaries or Health Secretaries of all the states to frame a law for regulation of clinical trials of drugs by multinational pharma companies. The apex court directive came during a hearing of a PIL filed by an NGO which alleged large-scale clinical drug trials across the country by various pharmaceutical firms using Indian citizens as guinea pigs in those tests. The NGO had alleged that the clinical trials by several pharmaceutical firms were conducted indiscriminately in various states. Previously, the court had said that uncontrolled clinical trial of drugs by multinational companies was creating havoc and lambasted the Centre for failing to stop the rackets which caused deaths. It had earlier ordered that all drug trials will be done under the supervision of the Union Health Secretary. The Centre had admitted that

2,644 people died during clinical trials of 475 new drugs during the period of 2005 to 2012.

SEBI nod to Jet-Etihad deal

October 4th, 2013

The Securities Exchange Board of India(SEBI) has approved the Etihad Airways plan to buy a 24% stake in the Jet Airways as both carriers revised their deal to comply with conditions set by the markets regulator. After studying the revised deal structure, SEBI was of the opinion that the Rs 2,058 crore transaction would not trigger a mandatory open offer for purchase of shares from public shareholders and Etihad would not be considered a promoter entity in Jet Airways. Jet promoter Naresh Goyal would eventually have a 51% stake in the company, Etihad 24% and the public shareholding of the remaining 25%.
What are the key Terms and Conditions (T&C) in Jet-Etihad deal?

As per the T&C, Jet Airways need to seek prior approval of the government for any changes to be made in the Shareholders Agreement (SHA) with Etihad and also for any change in shareholding pattern of the company. Earlier, the deal was given clearance from the Foreign Investment Promotion Board (FIPB) clearance with a rider that all shareholder disputes and disputes under the SHA would have to be adjudicated under Indian law. As per the latest clarifications, Etihad will take 2 seats on the 12 member board instead of 3 as was previously proposed. The Indian partner,Naresh Goyal, besides appointing 4 board members, will have the right to nominate the chairman, whereas Etihad will appoint a vice-chairman. Jet has also dropped a clause from its earlier application of shifting revenue management to Abu Dhabi.
What was the issue with the Jet-Etihad deal?

Indian carrier Jet Airways had recently announced that it intends to sell its 24% shares to UAE operator Etihad Airways to attract the $379-million investment rising form the deal. But the deal was stuck after the Foreign Investment Promotion Board (FIPB) and stock market regulator SEBI raised questions about ownership and effective control of the Indian airline passing into foreign hands. There were apprehensions from Indian side that the deal would give the key controls of Jet to Etihad. SEBI had highlighted some clauses of the Commercial Co-operation Agreement (CCA) that might give an upper hand to Etihad. In this regard, SEBI had sought clarification from Jet on some matters of the prospective deal including choosing candidates for senior management positions, consolidation of sales office and general sales arrangements to support sales for Jet in the UAE. Also the right of Etihad to appoint a vice-chairman will not have any significant impact on the issue of control. Indian government wanted to ensure that the ownership and major control of the carrier remains with Jet Airways.

Why Jet-Etihad deal is important for Jet?

The deal is important to Jet, which is facing significant financial challenges. The deal will also help the Indian civil aviation industry by enhancing capacity, increasing competition and bringing down airfares.

Airtel is among Africas top ten most admired global brands

October 4th, 2013

Indian telecom company Airtel has found a place in the list of top ten global brands admired most in Africa. As per a survey conducted by the African Business Awards, Airtel bagged 9th rank on the list, beating Japanese car manufacturer Honda. The brand valuation is based on estimated proportion of revenue that the parent company attributes to the brand on the African continent. Airtel is alsoIndias largest telecom company with 192.22 million subscribers.
Top 10 most admired global brands in Africa:

1. Coca Cola-US 2. Shell-Netherlands 3. Samsung-South Korea 4. Vodafone-UK 5. Nike-US 6. Toyota- Japan 7. McDonalds-US 8. Pepsi Cola-US 9. Airtel-India 10. Honda-Japan

Vice President releases postage stamp in memory of Baba Jumdev

October 4th, 2013

The Vice President of India, Mr. Hamid commemorative postage stamp in the memory of Baba Jumdev.
Who was Baba Jumdev?

Ansari released

Baba Jumdev was a prominent spiritual leader and revered social activist who considered service of humanity as the highest form ofreligion. For him, spiritualism meant cleansing the dogmatic and ritualistic faith by adding essential moral and human dimensions to it, so that religion remains a source of solace and betterment. He called upon his followers to be good human beings by adhering to compassion and forgiveness. He advised his followers to speak the truth, and behave with dignity and cordiality towards others. He was the founder of theParmatma Ek Sewak community.

Land Acquisition Bill gets Presidents assent

October 3rd, 2013

The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2013 which seeks to replace the archaic land acquisition law dating back to 1894 has become law with President Pranab Mukherjee giving assent to it. As per Rural Development Ministry, the Rules will be notified within two months and an advisory panel will formed shortly to vet the said rules in consultations with various stakeholders.
What are the key features of Land Acquisition, Rehabilitation and Resettlement Bill 2012?

The historic law would ensure that farmers are provided just and fair compensation and that no land is acquired forcibly. The Bill was passed by both Houses of Parliament. The bill was brought as the archaic Act of 1894 had various shortcomings including silence on the issue of resettlement and rehabilitation of those displaced by acquisition of land. A key provision of the legislation is to get the consent of 80% of the landowners in case the land is acquired for private purposes and in case the land is acquired for public projects then at least consent of 70% of the landowners will be mandatory. The law also proposes that the farmers and the landowners should be compensated up to 4 times the market value of land in rural areas and 2 times the market value in urban areas.

Iraq ratifies Comprehensive Nuclear Test Ban Treaty

October 3rd, 2013

Iraq ratified the Comprehensive Nuclear Test Ban Treaty (CTBT), a treaty which provides for nuclear disarmament and bans nuclear weapons explosions at any place under the jurisdiction or control of the signatory. However, CTBT cannot enter into force until eight specific nations dont ratify it.
What is CTBT?

Comprehensive Nuclear Test Ban Treaty (CTBT) is an internationalaccord which seeks to ban all nuclear explosions in all environments for military or civilian purposes. It was adopted by the United Nations General Assembly on September 10, 1996, but it has not entered into force due to the non-ratification of eight specific states.
What is required for the CTBT to come into force?

There is a list of 44 states in Annex 2 of the CTBT. These Annex 2 states that participated in the CTBTs negotiations between 1994 and 1996 and nuclear power reactors or research reactors at that time. The treaty has to be these states. The treaty has been ratified only states including France, Russia and Britain.

are states possessed ratified by by 36

Which are the eight States who have not signed/ratified CTBT?

These nations are China, Egypt, Iran, Israel and the United States who have signed but not ratified the Treaty and India, North Korea and Pakistan who have not signed it.
What is the status of CTBT in the Middle East?

In the Middle East, Egypt, Israel, Iran, and Yemen have not yet ratified the CTBT, while Saudi Arabia and Syria remain outside as non-signatories. Efforts to create a zone in the Middle East free of nuclear weapons have failed to make progress, with a hopedfor meeting in late 2012 failing to take place.

Global Infant Mortality Rate came down to 37: UNICEF report

October 3rd, 2013

As per United Nations Childrens Fund (UNICEF) report on the global Infant Mortality rate (IMR) declined from 61 deaths in 1990 to 37 deaths in 2011. Annual infant deaths decreased from 8.4 million in 1990 to 5 million in 2011. Although India has more IMR than the global average, it has shown a minor decline in IMR in 2012 compared to 2011. It decreased from 44 deaths for every 1000 live births in 2011 to 42 deaths for every 1000 live in 2012. Some findings of the report: In India, Kerala has IMR of 12 which is least compared to other states. The worst is Assam with IMR 55. West Bengal also performed badly with IMR 32. Some improvement was seen in case of Uttar Pradesh and Odishawhose IMR declined from 57 in 2011 to 53 in 2012 in both states. Bihar, Jharkhand, Chhattisgarh and Tamil Nadu registered a one-point decrease in IMR. Andhra Pradesh, Haryana, Himachal Pradesh and Jammu and Kashmir improved their IMR by 2 points. Madhya Pradesh, Rajasthan, Gujarat, Delhi and Karnatakareduced their IMR by 3 points.
What are the main causes for high IMR in India?

Low awareness about health and reproductive rights, maternal anemia and malnutrition are the main causes for high infant mortality rate in India. Infant Mortality rate (IMR) is the number of deaths of children less than one year of age per 1000 live births.

Pakistans Indus Water Commission visited India

October 2nd, 2013

Pakistani delegation of Indus Water Commission headed by Mirza Asif Baig visited India to participate in the 109th meeting of the Permanent Indus Commission held under Article VIII (5) of the Indus Water Treaty, 1960 in

New Delhi. The team visited India to discuss Indias proposed project on Chena b River basin. India has planned to undertake 4 hydroelectric projects on the river: Ratle (850 MW), Miyar (120 MW), Lower Kalnai (48 MW) and Pakal Dul (1000 MW). Earlier, Pakistan had oppugned Indias design with regard to spillway, pondage and water intake. Under Article VIII (5) of the Indus Water Treaty, 1960, the Commissioners are required to meet regularly at least once a year, alternately in India and Pakistan and also when requested by either Commissioner. As per the treaty, either side has to inform the other at least 6 months in advance, of any new projects to be undertaken. Owing to this, India has informed Pakistan about the four projects in the Chenab basin.
What is Indus Waters Treaty?

Background: After the partition of India-Pakistan, the issue of sharing of water of rivers originating from Indus basin surfaced. India had all the advantage of using the waters of the all six main rivers originating from either the Himalayan or the Chinese Tibet side. Pakistan was wary that since the sources of rivers of the Indus basin were in India, it could potentially create droughts and famines in Pakistan, especially at times of war. During the first years of partition the waters of the Indus were apportioned by the InterDominion Accord of May 4, 1948. As per this accord, India was required to release sufficient waters to the Pakistani regions of the basin in return for annual payments from the government of Pakistan. The accord was meant to meet immediate requirements and was followed by negotiations for a more permanent solution. However, neither side was willing to compromise its respective position thus the issue reached a deadlock. The Treaty: Finally, head of both countries (Indias then PM Jawaharlal Nehru and Paks then President Mohammed Ayub Khan) came to negotiation table to sign the Indus Waters Treaty brokered by the World Bank. As per the treaty proposed by the World Bank, Ravi, Beas and Sutlej, which constitute the eastern rivers, are allocated for exclusive use by India before they enter Pakistan. However, a transition period of 10 years was permitted in which India was bound to supply water to Pakistan from these rivers until Pakistan was able to build the canal system for utilization of waters of Jhelum, Chenab and the Indus itself, allocated to it under the treaty. Similarly, Pakistan has exclusive use of the Western Rivers Jhelum, Chenab and Indus but with some stipulations for development of projects on these rivers in India. Pakistan also received one-time financial compensation for the loss of water from the Eastern rivers. Now, as the moratorium is over, India has secured full rights for use of the waters of the three rivers allocated to it. The treaty resulted in partitioning of the rivers rather than sharing of their waters.

Rahul Dravid is brand ambassador for National Tobacco Control Campaign

October 2nd, 2013

The Ministry of Health and Family Welfare named former Indian cricket team captain Rahul Dravid as the brand ambassador for its National Tobacco Control Campaign. The national anti-tobacco control campaign pursues the goal of World Health Assembly which 30% relative reduction in tobacco use by 2025.

NGT bans digging of earth across the country

October 2nd, 2013

The National Green Tribunal (NGT) has banned digging of earth acrossIndia for making bricks and roads without prior environment clearance. It directed the Chief Secretaries of all states and union territories to ensure that its interim order is implemented. The tribunal issued notice to Uttar Pradesh seeking its response on a plea to direct the state government to stop extraction of earth for making bricks and roads, allegedly going on in violation of a Supreme Court decision and directions of the Environment Ministry to all states. Around a month back, the National Green Tribunal banned sand mining from river beds, without environment clearance, across the country.
About National Green Tribunal (NGT)

Established: October 18, 2010 under the National Green Tribunal Act 2010. Aim: Effective and speedy disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property and for matters connected therewith or incidental thereto. The NGT is: Specialized body equipped with the necessary expertise to handle environmental disputes involving multi-disciplinary issues. Not bound by the procedure laid down under the Code of Civil Procedure, 1908, but shall be guided by principles of natural justice. Mandated to make and endeavor for disposal of applications or appeals finally within 6 months of filing of the same.

110 201: Supreme Court gets countrys first customized pin code
October 2nd, 2013

The Department of Posts, Ministry of Communications & Information Technology, allotted a Customized Pin Code to theSupreme Court of India. The Pin Code allotted to the Supreme Court is 110 201.
What is a PIN code and how is it used?

Postal Index Number (PIN) or PIN Code is a 6 digit code of Post Office numbering used by India Post. The PIN was introduced on August 15, 1972 in the country. There are 9 PIN regions in the country. The first 8 are geographical regions and the digit 9 is reserved for the Army Postal Service. The first digit of the PIN code indicates the region. The second digit indicates the sub-region, and the third digit indicates the sorting district within the region. The final three digits are assigned to individual post offices.

India to commission its first strategic oil storage by January 2014

October 2nd, 2013

In an effort to shield itself from supply disruptions, India is building strategic oil storage facility. The first such storage facility is expected to be commissioned in January 2014 at Vishakhapatnam. The facilities are being built by state owned firm India Strategic Petroleum Reserves Ltd (ISPRL). India is building underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store about 5.33 million tonnes of crude oil. This is sufficient to meet nations oil requirement for 13-14 days. Visakhapatnam facility would have the capacity to store 1.33 million tonnes of crude oil in underground rock caverns. Huge underground cavities, almost ten storey tall and approximately 3.3 km long are being built.
Why India is building strategic oil storages?

India meets around 80% of its crude oil needs from imports. Dependence on oil import makes it vulnerable to supply disruptions as well as changes in the prices of crude oil which could have ramifications in India. To counter this, oil storages would serve as a stock to manage supply disturbances as well as to buy and store oil when prices are low and release them to refiners when there is a spike in global rates. With this facility, India will join countries like the US, Japan and China that have strategic reserves.

Google updates its search engine with Hummingbird

October 2nd, 2013

Google has modified its Internet search engine to give better answers to the increasingly complex queries posed by Web surfers. The change has come as part of an update called Hummingbird that Google Inc. has gradually rolled out in the past month without revealing the modifications.
Why Google updated its search engine with Hummingbird?

As per Google, Hummingbird is aimed at giving Googles search engine a bett er grasp at understanding concepts instead of mere words. Increased reliance on the search engine have made people to enter even lengthy questions into the search box instead of just a few words related to specific topics.
How could Hummingbird affect the websites?

The alteration in the search engines could make a major impact on traffic to websites. As per experts, Hummingbird brings the most dramatic alterations to Googles search engine since it revised the way it indexes websites 3 years ago as part of a redesign called Caffeine. The redesign is likely to affect the analysis of about 90% of the search requests that Google receives. Any rearrangement of Googles search rankings can have dramatic ramifications because they steer majority of the Internets traffic. Google directs about 66% of search requests in the U.S. and its share is even bigger in some parts of Europe. The changes could also escalate the price of Google ads tied to search requests if websites whose rankings are lowered under the new system feel they have to buy the marketing messages to attract traffic. Google generates most of its revenue from the search ads and other commercial pitches related to Web content. Its revenue is expected to approach $60 billion this year.

Union Cabinet decides to withdraw the Ordinance on convicted lawmakers

October 1st, 2013

In the wake of Congress vice-president Rahul Gandhi censuring the government, the Union Cabinet has decided to withdraw the controversial ordinance on convicted lawmakers, as well as the Bill that sought to amend the Representation of the People Act on which it was based. Earlier, the Union Cabinet had approved an ordinance to reverse the apex court ruling which held that an MP or an MLA would stand disqualified immediately if convicted by a court for crimes with punishment of two years or more. To negate the Supreme Court order, the government moved to amend the law and brought the Representation of the People (second amendment) Bill, 2013 in Rajya Sabha during the last session. However, the bill could not be passed. Failing to get the Bill passed, it had brought the ordinance.

TRAI recommends pan-India Mobile Number Portability in 6 months

October 1st, 2013

The Telecom Regulatory Authority of India (TRAI) recommended implementation of Mobile Number Portability (MNP) across the country within 6 months. On implementation, this service will allow users to retain their mobile numbers even when they change their service area. Currently, the MNP is available within the same service area. The regulator suggested that service providers be given six months time to implement full MNP in the country.
What is Mobile Number Portability?

Mobile Number Portability (MNP) enables mobile telephone users to retain their mobile telephone numbers when changing from one mobile network operator to another.

Control-Alt-Delete was a mistake, admits Bill Gates

October 1st, 2013

Bill Gates, billionaire and co-founder of Microsoft, has admitted for the first time that using the key combination of Control-Alt-Delete to log into a PC was a mistake. The awkward combination which is also known as threefinger salute has been a characteristic of the Windows operating system since the earliest days of personal computers.
What is the use of Control-Alt-Delete combination?

The function of the key combination Control-Alt-Delete differs depending on the context but it generally interrupts or facilitates interrupting a function. For instance, in pre-boot environment (before an operating system starts) or in DOS, Windows 3.0 and earlier version of Windows or OS/2, the key combination reboots the computer. Starting with Windows 3.1, the command invokes a task manager or security related component that facilitates ending a Windows session.

Apex court: Citizens have right to cast negative vote

October 1st, 2013

Conferring the right to cast negative vote, the Supreme Court of India in a judgment held that citizens have the right to reject all candidates contesting an election. The apex court also directed the Election Commission of India to provide none of the above options at the end of the list of candidates contesting an election in a constituency. A bench headed by Chief Justice P Sathasivam held that negative voting would foster purity and vibrancy of elections .It would also encourage participation as people who are not content with the candidates in the contest would also participate to express their opinion by rejecting contestants.
What did the Supreme Court say regarding Negative Voting?

The apex court held that being a Democracy the voters should be given choices. It is of the view that voters will be empowered by this right of negative voting. Voters using negative voting will be able to convey clear message to political parties and candidates as to what the voters think about them. The bench noted that the option of negative

voting is prevalent in 13 nations. Even in India parliamentarians are given a choice to press the button for abstaining while voting takes place in the Parliament. As per the bench, the right to reject candidates in elections is a part of fundamental right conferred by the Constitution in article 19 (freedom of speech and expression).
What are current provisions in Representation of People Act for expressing dissatisfaction?

Under the existing provisions of Section 49(O) of the Representation of People Act, if a voter does not want to cast his vote, he has to inform the presiding officer of his intention of not voting, who in turn would make an entry in the relevant rule book after taking the signature of the said elector. The problem with this provision is that it violates the concept of secret ballot.

Nanomedicine for Blood Cancer developed

October 1st, 2013

The Kochi-based Amrita Centre for Nanosciences and Molecular Medicine has developed a nano-medicine for drug-resistant blood cancer. This invention expected to significantly improve the treatment of drug-resistant Chronic Myelogenous Leukemia (CML), when used in combination with Imatinib, the standard drug for the disease. In another major invention, the institute has developed a mechanism that can efficaciously prevent recurrence of glioma or brain tumour. This disease affects about 4 out of every 100000 people in India.
What is Chronic Myelogenous Leukemia?

Chronic Myelogenous Leukemia is a form of blood cancer which affects around 2 out of every 100000 Indians annually.

Raijin: Australias most powerful super computer unveiled

October 1st, 2013

Australia unveiled its most powerful super computer Raijin in Canberra. Raijin, is named after the Japanese God of thunder and rain. It development cost $ 45.2 million and will cost $ 10.85 million annually to operate. On the global scale, Raijin is considered the 27th most powerful computer. The supercomputer is capable of performing the same number of calculations in an hour that 7 billion people with calculators could perform in 20 years.

Centre to fund Rubber Plantation in Maoist Affected States approved

October 1st, 2013

Union Government has approved a proposal of funding Rubber Plantation in over 50000 acres of land in Maoist-affected States under a special funded Central project.
Why Rubber Plantation project in Maoist-affected States?

The step has been taken to provide a sustainable source of income to people residing in Maoist-affected regions which will prevent youth from joining the naxal movement.

Nokia unveils smartphone with 41 megapixel camera in India

October 1st, 2013

Nokia has launched the Lumia 1020 smartphone in India. It has a 41MP camera, which makes it the smartphone with the highest megapixel in Indian market. The phone has a Carl Zeiss lens and Nokias proprietary PureView imaging technology. This camera also has optical image stabilization as well as six element lens and uses oversampling technology to process images. Its lossless zooming technology enables one to capture images first and zoom into it later without losing clarity. Photos taken by most smartphones get pixilated upon zooming and cropping.

Survey ranks Mumbai as worlds second most honest city after Helsinki
October 1st, 2013

As per a survey conducted in various cities across the world, Indias financial capital Mumbai performed better than some of the big of the world and stood as the second most honest city in the world.
How was the honesty survey conducted?

The experiment was carried out in 16 cities across four continents with 192 lost wallets, dropped in crowded places like shopping malls, sidewalks and parks in cities as diverse as New York and Zurich. Each of the wallets contained an amount equivalent to Rs 3,000 (in local currency), a cell phone number, business cards and a family photo. It was to be observed that how many of the lost wallets are returned back by their finders. Results of the experiment: Helsinki, capital of Finland, topped the list of honest cities returning 11 of the 12 wallets. On an average, Mumbaikar returned 9 out of 12 wallets. Zurich, returned only 4 out of 12 wallets. London, 7 of the 12 wallets came back. Warsaw and Berlin returned 5 and 6 wallets respectively. Prague, only 4 of the 12 wallets made it back. Madrid, 10 were never returned. Bucharest and Rio returned 1/3rd of the lost wallets. Budapest and New Yorkers returned 8 of the 12 wallets. Lisbon in Portugal was the most dishonest city with 1 wallet returned and that too by a foreigner. Globally, around 47% or nearly half of the wallets were returned.

Liu Shiwen of China clinched Womens Table Tennis World Cup 2013
October 1st, 2013

Chinese table tennis player Liu Shiwen clinched Womens Table TennisWorld Cup 2013 after beating teammate Wu Yang in the final play of the tournament held in Kobe, Japan. Liu had won the World Cup in Guangzhou in 2009 and in Huangshi one year back. It was her third world cup victory.

Presidents assent to the Waqf (Amendment) Bill, 2013

October 1st, 2013

President Pranab Mukherjee has given his assent to the Waqf (Amendment) Bill, 2013.
What are the key stipulates of the Waqf (Amendment) Bill 2013?

The Waqf (Amendment) Bill 2013 brings some amendments in the Waqf Act, 1995 which was introduced to provide for the better administration of Waqfs and for matters connected therwith or incidental thereto. As per the amendments: The powers of the Waqf Council, currently an advisory body at the central level, have been strengthened. It can issue directions to waqf boards, who administer waqfs in each state. The composition of Waqf boards has been changed. It also establishes the procedure for removal of a chairperson of a waqf board. States, which do not have a Waqf Board, are directed to establish it within one year. State-funded surveys of Waqf properties must be carried out. Kinds of powers that can be delegated by a waqf board to the chairperson or any other individual, including the Chief Executive Officer of the Board have been restricted. The sale, gift, or total transfer of a waqf property will be treated as invalid. Maximum period of lease or mortgage of waqf properties has been extended, while establishing a more restrictive procedure by which leases or mortgages are approved by waqf boards. It provides for imprisonment for those who occupy waqf property without authorisation. The circumstances under which state governments can issue directions to waqf boards have been restricted. Boards cannot be superseded unless there is prima facie evidence of financial irregularity.
What is a Waqf property?

A Waqf is an unconditional and permanent dedication of property with implied detention in the ownership of God in such a manner, that the property of the owner may be extinguished and its profits may revert to or be applied for the benefit of mankind except for purposes prohibited by Islam. The grant is known as mushrut-ul-khidmat, while a person making such dedication is known as Waqif.
What is Central Waqf Council?

Central Wakf Council, India is an Indian statutory body established in 1964 by the Government of India under Waqf Act, 1954 (now a sub section the Waqf Act, 1995) for the purpose of advising it on matters pertaining to working of the State Waqf Boards and proper administration of the Waqfs in the country. Note: Although waqf is an Islamic institution, being a Muslim is not required to establish a waqf, and dhimmis (non-muslims) may establish a waqf.

President gives assent to the Parliament (Prevention of Disqualification) Amendment Bill, 2013
October 1st, 2013

President Pranab Mukherjee has given his assent to the Parliament (Prevention of Disqualification) Amendment Bill, 2013 which amends Parliament (Prevention of Disqualification) Act, 1959.
What is Parliament (Prevention of Disqualification) Act, 1959?

Section 3 of the Parliament (Prevention of Disqualification) Act, 1959, which has been periodically amended, lists certain offices of profit under the Government of India or the Government of any State, which do not disqualify the holders thereof for being chosen as, or for being, a Member of Parliament. Sub-clause (ii) of clause (ba) of section 3 of the Parliament (Prevention of Disqualification) Act, 1959, exempts the Chairperson of the National Commission for Scheduled Castes and Scheduled Tribes from such disqualification.
Why these amendments have been made?

The National Commission for the Scheduled Castes and Scheduled Tribes was divided into two independent Commissions i.e. (i) the National Commission for the Scheduled Castes and (ii) the National Commission for the Scheduled Tribes by the Constitution (89th Amendment) Act, 2003. Through this amendment Act, Article 338 of the Constitution was amended and a new article, namely, Article 338A was introduced in the Constitution. With the bifurcation of the National Commission for the Scheduled Castes and Scheduled Tribes, consequential amendments are required in sub-clause (ii) of clause (ba) of section 3 of the Parliament (Prevention of Disqualification) Act, 1959, so as to exclude the Chairperson of the National Commission for the Scheduled Castes and the Chairperson of the National Commission for the Scheduled Tribes from incurring any disqualification for being chosen as or for being a Member of Parliament. The Constitution (89th Amendment) Act, 2003, came into force from February 19, 2004 and therefore, it is proposed to give effect to the present amendment from the same date.

RBI eases trade credit rules to raise funds from overseas

October 1st, 2013

The Reserve Bank of India eased trade credit norms to raise funds from abroad. As per RBIs notification, all types of firms can avail trade credit facility now from overseas for import of capital goods. The relaxations in norms allow companies in all sectors to avail trade credit not exceeding $ 20 million up to a maximum period of 5 years for import of capital goods as classified by the Director General of Foreign Trade (DGFT). Previously, only companies in the infrastructure sector were permitted to raise such trade credits.

However, Banks are not permitted to issue Letters of Credit/guarantees/Letter of Undertaking (LoU) /Letter of Comfort (LoC) in favor of overseas supplier, bank and financial institution for the extended period beyond 3 years.

PM approves setting up of 7th Central Pay Commission

October 1st, 2013

The Prime Minister of India Manmohan Singh has approved the constitution of the Seventh Central Pay Commission (CPC). If we go by the average time of 2 years taken by a Pay Commission to submit its recommendations, it is expected that the recommendations of this Pay Commission will be implemented with effect from January 1, 2016.
Key points on the Central Pay Commissions

First CPC was constituted under the Chairmanship of Srinivasa Varadachariar in May 1946 and its report was submitted by 1947. The first Central Pay Commission was based on the basic idea of living wages to employees. The 6th Central Pay Commission under the Chairmanship of B.N.Srikrishna was approved in July 2006. The 7th CPC will recommend on the salaries, allowances and pensions of around 80 (50 lakh employees + 30 lakh pensioners) employees/pensioners of the Central Government, includingDefence and Railways. The CPC is constituted by the Union Government of India after almost every 10 years in order to revise the pay scales of employees. The recommendations of Pay Commission are always followed by all the states in India after a few changes.

M60-UCD1: Densest galaxy ever discovered

October 1st, 2013

Scientists have discovered the densest galaxy ever which they have named as M60UCD1. The galaxy was discovered using NASAs Hubble Space Telescope. Follow-up observations were done with NASAs Chandra X-ray Observatory and ground-based optical telescopes, including the Keck 10-metre telescope in Hawaii.
About M60-UCD1:

Ultra-compact dwarf galaxy Found in the Virgo cluster of galaxies Packed with an extraordinary number of stars About 54 million light years away from our own Milky Way

RBI directs Banks to end zero interest EMI schemes

October 1st, 2013

In a major blow to the banks and merchant establishments, the Reserve Bank of India has instructed banks to stop offering zero interest EMI (Equated Monthly Installment) schemes for the purchase of consumer goods in a bid to discourage them from offering such schemes or products.

RBI has asked banks to offer uniform interest rates and processing fee on EMI-based credit card schemes for retail products. The RBI also directed banks to terminate their relationships with merchant establishments which levied a fee on customers who make payments for goods and services through debit cards.
Why RBI has instructed banks against offering zero interest EMI schemes?

As per RBI, the very concept of zero per cent interest is non-existent and is only used by banks and others as a camouflage to lure and exploit gullible customers and it is passed on to the customer as processing fee by banks offering zero per cent EMI schemes on credit card outstanding for purchasing retail products. RBI wants banks to follow fair practice which, according to the central bank, demands the processing charge and RoI (Rate of Interest) charged be kept uniform, product and segment-wise, irrespective of the sourcing channel.

RBI will use OMOs to ensure liquidity

October 1st, 2013

Giving assurance to the markets, the Reserve Bank of India said that it will take actions, including Open Market Operations (OMOs), to ensure adequate liquidity in the system. The central banks assurance follows hardening of yields on government securities after governor Raghuram Rajan raised the repo rate by 25 basis points to 7.50%.
Why there is hardening in yield on government securities/bonds?

The hardening of yields in the government securities market is due to uncertainties around the government borrowing programme for the second half of 2013-14 as well as the prospective effects of banks half-yearly account closure, the seasonal pick-up in credit demand, festival-related demand and sluggish deposit growth. There is sudden spike in the yield on the 10-year benchmark government bond which is making the RBI uncomfortable.
What are Open Market Operations (OMOs)?

Open Market Operations (OMOs) refers to the purchase and sale of the Government securities by the Reserve bank of India from / to public on its account. But in India, as of now the market for government securities is not well developed, still OMO plays very important role. Here is how OMO works: When RBI sells government security in the markets, the banks purchase them. When the banks purchase Government securities, they have a reduced ability to lend to the industrial houses or other commercial sectors. This reduced surplus cash, contracts the Credit supply. When RBI purchases the securities, the commercial banks find them with more surplus cash and this would create more credit in the system.