Events of National and International Importance -
Kerala declares full banking coverage
Kerala declares full banking coverage
1.
Kerala
has become the first major State to declare banking coverage to all households
under the Pradhan Mantri Jan-Dhan Yojna.
2.
The
Yojna is a comprehensive financial inclusion programme launched by the Prime
Minister on Independence Day.
3.
All
banks in the State together have opened over 12.8 lakh accounts to achieve full
coverage in rural and urban areas.
4.
They
have issued 5.25 lakh RuPay debit cards till date. A toll free number
1800-425-11222 has been set up for providing information on the scheme and
redressal of grievances.
5.
The
State now has more than 6,000 bank branches. Every village has a banking
channel. This apart, 848 Akshaya e-kiosks in the State are serving as banking
kiosks.
6.
The
State has also achieved the milestone of opening financial literacy centers.
Govt launches Maulana Azad National Academy for Skills
1.
The
Minorities Affairs ministry launched the Maulana Azad National Academy
for Skills (MANAS) to impart training to youths in light of the stress laid by
Prime Minister Narendra Modi
on skill development.
2.
It was launched on a pilot basis on the
125th birth anniversary of first Education Minister Maulana Abul Kalam Azad.
3.
MANAS also saw two MoUs being signed
under it for the training of youths in the health and security sectors.
4.
"To increase coverage of the
programme under MANAS, the ministry has recently increased the income
eligibility criterion for trainees from Rs 1.03 lakh to Rs 6 lakh (annual) to
facilitate provision of training and concessional credit.
5.
This change of base is likely to benefit
12 to 13 crore people," said Minorities Affairs minister Najma Heptullah.
6.
The training programmes will ensure 100
per cent employment for trainees.
Highlights of Prime minister’s visit to Myanmar-
1.
Prime
Minister Narendra Modi kicked off his 11-day foreign tour on Tuesday afternoon
with his first stop at Nay Pyi Taw, the capital of Myanmar ,where he held
bilateral talks with President U Thein Sein.
2.
The
focus was on beefing up engagement in the areas of culture and commerce and
made a strong push for improving regional connectivity as a booster to trade
and increased people-to-people contact.
3.
The best example of this co-operation and
this co-operative spirit is the decision taken by the two governments to
implement the Kaladan project.
4.
"The
interest level of Indian industry - India Inc. in Myanmar - has really
increased.... say since 2011-2012 after the process of review of sanctions took
place.
5.
India
and Myanmar share a long land border of over 1600 kilometres and a maritime
boundary in the Bay of Bengal.
Google signs 60-year, $ 1 billion NASA lease
1.
Google
has signed a long-term lease for part of a historic Navy air base
2.
It plans to renovate three massive hangars (A large structure
at an airport where aircraft can be stored and maintained), and use them for
projects involving
a)
The Aviation,
b)
Space exploration
c)
Robotics
3.
Giant Internet Company will pay $ 1.16 billion in rent over
60 years for the property (which also includes a working air field, golf course
and other buildings)
4.
The 1,000-acre (400-hectare) site is part of the former
Moffett Field Naval Air Station on the San Francisco Peninsula.
IR &
Diplomacy
–
Is There Room for the US in
China’s 'Asia-Pacific Dream'
What is Asia – Pacific Dream
1. Asia-Pacific dream is the latest
iteration of China’s vision for a united Asian community with Beijing as its
center — and with the United States noticeably absent.
2.
It includes Asia
for Asians concept, having Asians problem solved by Asians themselves.
3.
It is closely
tied to economic elements, with development and vibrancy including free trade
agreements and investment possibilities.
China’s policy
regarding Asia – Pacific Dream
1.
China’s renewed
push for the Free Trade Area of the Asia-Pacific (FTAAP) falls under this
rubric.
2.
Its same as
China’s expanding vision for its Silk Road Economic Belt and Maritime Silk
Road.
3.
China is the
largest trading partner for South Korea, Japan, Australia, and ASEAN.
4.
China’s new
initiatives, including the Asia-Pacific Dream, make it clear that China wants
to turn economic leadership into more explicit strategic leadership.
Implications for the United States
1.
US have been at
best skeptical of China’s regional ambitions and at worst has outright tried to
block projects like the AIIB and FTAAP.
2.
The U.S. is wary
of China’s vision for the region in part simply because increasing Chinese
leadership naturally means decreasing U.S. influence.
3.
When Beijing
emphasizes the Asia-Pacific as a “Asians only club, it makes strategists in
Washington very nervous.
What is Asia – Pacific Dream
1. Asia-Pacific dream is the latest
iteration of China’s vision for a united Asian community with Beijing as its
center — and with the United States noticeably absent.
2.
It includes Asia
for Asians concept, having Asians problem solved by Asians themselves.
3.
It is closely
tied to economic elements, with development and vibrancy including free trade
agreements and investment possibilities.
China’s policy
regarding Asia – Pacific Dream
1.
China’s renewed
push for the Free Trade Area of the Asia-Pacific (FTAAP) falls under this
rubric.
2.
Its same as
China’s expanding vision for its Silk Road Economic Belt and Maritime Silk
Road.
3.
China is the
largest trading partner for South Korea, Japan, Australia, and ASEAN.
4.
China’s new
initiatives, including the Asia-Pacific Dream, make it clear that China wants
to turn economic leadership into more explicit strategic leadership.
Implications for the United States
1.
US have been at
best skeptical of China’s regional ambitions and at worst has outright tried to
block projects like the AIIB and FTAAP.
2.
The U.S. is wary
of China’s vision for the region in part simply because increasing Chinese
leadership naturally means decreasing U.S. influence.
3.
When Beijing
emphasizes the Asia-Pacific as a “Asians only club, it makes strategists in
Washington very nervous.
Economy -
RBI tightens norms for NBFCs
1.
The
Reserve Bank of India on Monday Tightens
norms for non-banking financial companies (NBFCs)
2.
It
raised the capital adequacy requirement and the net owned fund limit, with an
objective to mitigate risks in the sector.
3. The RBI also revoked temporary
suspension on issuance of Certificate of Registration (CoR), to companies that
want to conduct business of non-banking financial institution (NBFI).
4. As per
the latest directives, the RBI has raised the limit for NBFCs to maintain the
net owned fund (NOF) requirement to four times by 2017 to Rs.2 crore.
5. At present, the NOF requirement is at
Rs.25 lakh. In a phased manner, the NBFCs would be required to raise it to Rs.1
crore by March, 2016, and to further double it to Rs.2 crore by 2017.
6. NBFCs failing to achieve the prescribed
ceiling within the stipulated time period shall not be eligible to hold the CoR
(Certificate of Registration) as NBFCs.
7.
.
The bank will initiate the process for cancellation of CoR against such NBFCs,”
it said in a notification.
8.
In
the interest of harmonisation, the asset classification norms for NBFCs-ND-SI
and NBFCs-D will be brought in line with that of banks
9.
At
present, an asset is classified as non-performing asset when it has remained
overdue for a period of six months or more for loans and overdue for twelve
months or more in case of lease rental and hire purchase installments, as
compared to 90 days for banks.
Environment
& Ecology
United Nations
environment awards for 2014 announced
1. Launched in 2005, the ‘Champions of the Earth’ awards recognise
achievements of people from different categories.
2.
This year, eight winners were announced in five
different categories.
Clockwise
from Left
Susilo Bambang Yudhoyno, Boyan Slat, Sir
Robert Watson, a representative of the US Green Building Council, Tommy
Remengesau, Mario Molina, Sylvia Earle and Fatima Jibrell
Science
& Technology
New Research
Reveals the Role of Magnetic Fields in Star Formation
A schematic
illustration of the magnetic field and motions found in a massive star forming
cluster. The core (gray-filled ellipse) is a flattened, rotating cloud of gas
and dust (blue and red arrows indicate the sense of the rotation). It is
fragmenting into new stars (evidenced by the three condensations/gray dots),
and is threaded by an hourglass magnetic field (“B field” green lines) largely
aligned with a bipolar outflow indicated with the arrows.
1.
Using the Sub millimeter Array to study the
magnetic field in a massive star cluster
2.
Astronomers were able to determine the properties
of the magnetic field and the role they play in star formation.
3.
Massive stars tend to form in clusters as the
gas and dust in molecular clouds collapses and fragments under the influence of
gravity.
4. In the
classic picture of star formation, gravity must eventually compete against the
thermal pressure that develops in the collapsing core as the material heats up.
5.
The scientists report detecting the clear
signature of an hourglass-shaped magnetic field that is remarkably consistent
with theoretical predictions of the classic paradigm.
6. This is the
first time that such an hourglass field, aligned with a well-defined outflow
system, has been seen in a high-mass region.
Editorial -
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