W.B.C.S Current Affairs 11 August 2018 to 17 August 2018

The Importance of Current Affairs in W.B.C.S examinations is immense.Success inW.B.C.S  Prelims and W.B.C.S Mains Exam is mainly subjected to how well an aspirant is aware of the important current affairs. Preparation of current affairs for W.B.C.S is the key to unlock the exam.Continue Reading W.B.C.S Current Affairs 11 August 2018 to 17 August 2018.

1) The 24th World Congress of Philosophy (WCP) was held in Beijing, China from August 13 to 17, 2018. It was organized by the International Federation of Philosophical Societies, and Peking University. Its theme was “Learning To Be Human”. This was first time that the quinquennial (once in five year) event was held in China. Key Facts: 24th WCP event saw more than 1,000 activities such as plenary sessions, symposia, lectures and roundtables. More than 6,000 philosophers and academics from 121 countries and regions had attended the event. They had shared diverse philosophical thoughts and took part in dialogues focusing on major issues confronting development of global civilization and challenges that mankind will face in the future. World Congress of Philosophy: It is global meeting of philosophers held every five years (quinquennialy) under auspices of International Federation of Philosophical Societies (FISP). It was first organized in 1900 in Paris, France and since it has become one of the largest philosophical events in the world. Its purpose is to contribute to development of professional relations between philosophers of all countries, promote philosophical education, and contribute to impact of philosophical knowledge on global problems. Each World Congress is sponsored by one of member societies in different country, which assumes responsibility for organization of that Congress.

2) India has released additional Rs. 470 million (Nepali) for Phase I of Postal Highway Project being constructed in Southern Plains of Nepal. The amount released will help to maintain fund liquidity for ongoing construction of 14 road packages under Postal Highway Project. Key Facts: India is providing financial assistance to Nepal since 1950 for infrastructure development as part of its multi-sectoral India-Nepal Economic Co-operation Programme. With release of recent additional funds, India so far has released Rs 2.35 billion to Nepal out of total grant assistance of Rs. 8.00 billion committed to implement 14 packages under Packages 2-6 of Phase I of Postal Highway Project. The Package 1 of the Project comprising two road sections Dhangadhi-Bhajaniya-Satti road and Lamki-Tikapur-Khakraula have already been completed with help of India’s grant assistance worth Rs 1.02 billion. The two roads were opened for service in January 2017. Postal Highway: It is also called Hulaki Rajmarg which runs across Terai region of Nepal, from Bhadrapur in east to Dodhara in west, cutting across entire width of the country. It is oldest highway in Nepal constructed by Juddha Shumsher Jung Bahadur Rana and Padma Shumsher Jung Bahadur Rana to aid transportation and facilitate postal services throughout the Himalayan nation.

3) The Food Safety and Standards Authority of India (FSSAI) launched RUCO (Repurpose Used Cooking Oil) initiative to enable collection and conversion of used cooking oil to biodiesel. Under this initiative, 64 companies at 101 locations have been identified to enable collection of used cooking oil. Key Facts: The initiative was launched nearly month after FSSAI notified standards for used cooking oil. According to FSSAI regulations, maximum permissible limits for Total Polar Compounds (TPC) have been set at 25%, beyond which the cooking oil is unsafe for consumption. Beside this, FSSAI is also working in partnership with Biodiesel Association of India (BAI) and food industry to ensure effective compliance of used cooking oil regulations. Background: According to FSSAI, India has potential to recover 220 crore litres of used cooking oil for production of biodiesel by 2022 through co-ordinated action. Currently, biodiesel produced from used cooking oil is very small, but robust ecosystem for conversion and collection is rapidly growing in India and soon it will reach sizable scale. FSSAI is also looking at introducing regulations to ensure that companies using large quantities of cooking oil hand it over to registered collecting agencies to convert it into biofuel. Food Safety and Standards Authority of India (FSSAI): FSSAI is a nodal statutory agency responsible for protecting and promoting public health in India through regulation and supervision of food safety. It was established under the Food Safety and Standards Act, 2006 and operates under aegis of Union Ministry of Health & Family Welfare.

4) The first project under Swadesh Darshan Scheme ‘North East Circuit: Imphal and Khongjom’ was inaugurated in Manipur. The project covers two sites i.e. Kangla Fort and Khongjom in Manipur. Under this project, Union Tourism Ministry has carried out works such as restoration and improvement of outer and inner moat of old Govindajee Temple and rejuvenation of sacred ponds, reconstruction of old rampart, among others. Key Facts: Kangla Fort is one of the most important historic and archaeological site of Manipur located in the heart of the capital city Imphal. It had served as tradition seat of past Meetei rulers of Manipur till 1891. The old Govindajee Temple is the largest Hindu, Vaishnav temple in Imphal city in Manipur. It is located next to Kangla Fort, palace of the former rulers of the then Manipur Kingdom. Its outer and inner moat and other relics are perfect reflections of the rich art and architectural heritage of Manipur. Swadesh Darshan Scheme: The scheme was Union Tourism Ministry with an objective to develop theme-based tourist circuits in the country. These tourist circuits will be developed on the principles of high tourist value, competitiveness and sustainability in an integrated manner. It is 100% centrally funded scheme for the project components undertaken for public funding. It also has provision for leveraging voluntary funding under Corporate Social Responsibility (CSR) initiatives of Central Public Sector Undertakings and corporate sector. The funding of projects under this scheme vary from state to state. It is finalised on the basis of detailed project reports prepared by Programme Management Consultant (PMC) which is national level consultant for implementing the scheme.

5) Three US scientists James Allison, Carl June and Steven Rosenberg were declared winners 2018 Albany Medical Center Prize in Medicine and Biomedical Research. They were awarded in recognition of their research in immunology and translation of their ideas into effective therapies that have led to innovative treatments for cancer, HIV and other diseases. They will share this $500,000 medical prize. They will receive the award at ceremony to be held in September 2018 in Albany, New York. Albany Medical Center Prize in Medicine and Biomedical Research: It is United States’ second highest value prize in medicine and biomedical research, awarded by the Albany Medical Center. It was established in 2000 by late Morris “Marty” Silverman to honor to any physician or scientists or group whose work have led to significant advances in fields of health care and scientific research with demonstrated translational benefits applied to improved patient care. It is awarded annually and carries monetary award of $500,000.

6) President Ram Nath Kovind has given Madhya Pradesh Governor Anandiben Patel additional charge of Chhattisgarh. She will discharge additional duties until the regular arrangements for the office of governor of Chhattisgarh are made. She was given additional charge following death of Chhattisgarh Governor Balramji Dass Tandon (in office from 25 July 2014 to 14 August 2018 till his death after suffering heart attack). Balramji Dass Tandon: He was born on 1 November 1927 in Amritsar, Punjab. He was one of the founding members of BJP’s parent organisation Jan Sangh. He had fought his first election in 1953 and was elected municipal councillor in Amritsar. He won his first Assembly seat from Amritsar in 1957 and went on to represent that Vidhan Sabha constituency five times (1960,1962,1967,1969 and 1977) and later from Rajpura in 1997. He was imprisoned in 1975 during National Emergency for 19 months. He also had served as deputy chief minister of Punjab in the Justice (retd) Gurnam Singh Akali Dal-Jan Sangh Government. He was appointed as sixth Governor of Chhattisgarh in July 2014. Constitutional provisions of Governor: Article 153: It says that there shall be Governor for each state. 7th Constitutional Amendment Act, 1956 facilitated appointment of the same person as governor for two or more states. Article 156: It says that Governor is appointed by President and hold office during pleasure of President.

7) United States has announced to grant $39 million as part its foreign military financing to Sri Lanka to boost maritime security. The US funding for Sri Lanka is part of its $300 million set aside for South and Southeast Asia to ensure free, open, and rules-based order in the Indo-Pacific region. Key Facts: The foreign military financing to Sri Lanka will be subject to approval by US Congress. It is viewed latest move by US to counter China’s increasing strategic influence on Indian Ocean island. This contribution will also support Bay of Bengal initiative and Sri Lanka’s humanitarian assistance and disaster response (HADR) priorities. This will be first US grant to Sri Lanka since 2009, after US had stopped arms sales to Sri Lanka during height of its Tamil separatist war that ended in 2009. During this time, US was highly critical of human-rights record of Sri Lankan Government led by then President Mahinda Rajapakse. This had led Sri Lanka to seek China as its alternative partner. Background: China (world’s second-largest economy) in recent has raised its investments in major ports in Sri Lanka, which are key to its ambitious ‘Belt and Road’ infrastructure initiative. Under it, China has vowed to keep providing financial help, including loans to Sri Lanka despite warnings about its mounting debt. Sri Lanka has already handed over control of Hambantota sea port to China on 99-year lease in 2017, after its inability to repay Chinese loans for the $1.4 billion project. The port in Hambantota straddles world’s busiest east-west shipping route and also gives strategic foothold to China in region, threating long dominance of India in the region. International Monetary Fund (IMF) also has warned Sri Lanka over its heavy debt after it bailed out island nation in June 2016 with $1.5 billion loan.

8) Austrian capital Vienna was ranked as world’s most liveable city among 140 major cities in 2018 Global Liveability Index released by Economist Intelligence Unit (EIU). It is first time that European city has topped rankings of EIU annual survey. Global Liveability Index: Global Liveability Index released by EIU compares world cities with each other in terms of security, affordability, education, healthcare, its urban lifestyle and infrastructure. It scores 140 major cities of the world on scale ranging from 0 (least liveable city) to 100 (most liveable city) based on these above parameters. Key Highlights of 2018 Global Liveability Index: 10 most liveable cities’ list includes Vienna, Austria (rank: 1st, with total score of 99.1), Melbourne, Australia (2nd, 98.4); Osaka, Japan (3rd, 97.7); Calgary, Canada (4th, 97.5); Sydney, Australia (5th, 97.4); Vancouver, Canada (6th, 97.3); Toronto, Canada (7th, 97.2); Tokyo, Japan (8th, 97.2); Copenhagen, Denmark (9th, 96.8); and Adelaide, Australia (96.6). Three Canadian cities made it into top 10 viz. Vancouver, Toronto and Calgary. No Indian cities were ranked in the top ten or bottom ten of this edition of index. New Delhi had figured at 112th and Mumbai 117th position in list. South Asian cities were also ranked low in. The 10 least liveable cities are Dakar, Senegal (131st); Algiers, Algeria (132nd); Douala, Cameroon (133rd); Tripoli, Libya (134th); Harare, Zimbabwe (135th); Port Moresby, Papua New Guinea (136th); Karachi, Pakistan (137th); Lagos, Nigeria (138th); Dhaka, Bangladesh (139th) and Damascus, Syria (140th).

9) Mahadayi Water Disputes Tribunal delivered its final verdict to ending 50-year-old dispute over sharing of Mahadayi or Mandovi River between Goa, Karnataka and Maharashtra. The tribunal was constituted in November 2010 under Interstate River Water Disputes Act, 1956 to resolve water sharing dispute between riparian states. Mahadayi River: Mahadayi River (also spelt Mahadeyi or Mhadei, and called Mandovi in Goa) rises in Bhimgad Wildlife Sanctuary in Western Ghats, in Khanapur taluk of Belagavi district in Karnataka. It flows in westerly direction, entering Goa in Sattari taluk of North Goa district. It is joined by number of streams along it course, growing in volume to become Mandovi (one of Goa’s two major rivers), before emptying itself into Arabian Sea at Panaji. About two-thirds (76 km) of Mahadayi’s 111-km stretch lies in Goa and remaining 35 km is in Karnataka and Maharashtra. Mahadayi river basin drains area of 2032 square km of which 375 sq km lies in Karnataka, 77 sq km in Maharashtra and remaining in Goa. Mahadayi River is lifeline of Goa because it is one of few sweet-water sources at state’s disposal (most of Goa’s 11 rivers contain salt water). It also important for Goa’s water security, ecology, and is important source of its staple diet of fish. Dispute: The sharing of waters of Mahadayi River was major cause of dispute between Karnataka and Goa. Karnataka was proposing to divert excess water from Mahadayi river to Malaprabha river basin by constructing number of dams, canals and barrages to route Mahadayi river water as part of Kalasa-Banduri Nala project. It had citied that, diversion of surplus water from Mahadayi which drains into Arabian sea (approximately 188 tmcft of water at 75% dependability flows into the Arabian Sea now without being used for anything) to meet requirements of water-scarce districts of Bagalkot, Gadag, Dharwad and Belagavi. Goa had opposed Karnataka’s proposal, contending that its population is dependent on river’s natural path and its diversion will affect its fragile ecosystem. It also claimed that ingress of saltwater in river, which is dependent on monsoons, will ultimately end up killing state’s mangroves and green belt, disturb relationship between its people and land as well as ecological balance. Tribunal Award: The tribunal has pegged Karnataka’s access to 13.4 tmc of Mahadayi River water for its consumptive use (5.4 tmc) and power generation (8.02 tmc). Goa was allowed to use 24 tmc for state’s municipal water needs, irrigation water requirements and industrial water demands. Maharashtra was awarded lowest share of 1.33 tmc for meeting its in-basin needs with respect to five projects. It also directed Central Government to set up Mahadayi Water Management Authority to implement its report and final decision.

10) West Bengal Government has announced to remove annual family income ceiling in eligibility criteria to be beneficiary under state’s UN award winning Kanyashree Prakalpa scheme. This will help more girls to chase their dreams with Government support. Currently only girls belonging to families with annual family income not more than Rs 1.20 lakh were entitled to get the benefits of this scheme. State government is also planning to set up “Kanyashree University” under this scheme for girls soon. Kanyashree Prakalpa scheme: It is conditional cash transfer scheme aimed at improving status and well-being of girl child by incentivising schooling of teenage girls and delaying their marriages until the age of 18. It was launched by Mamata Banerjee led West Bengal Government (Women Development and Social Welfare department) in October 2013. It was aimed at increasing educational attainment of girls, prevention of child marriage and financial inclusion. Objectives: Improve lives and status of the adolescent girls in State. Provide financial help to girls from disadvantaged families to pursue higher studies (now it will cover every girl from state). Prevent child marriage. Improved outcomes in terms of their health (especially facilitate the prevention of infant and maternal mortality). Contribute towards empowerment of girls in the state. Bring immeasurable benefits for the larger society as a whole. Targeted Beneficiaries: All girl children within age of 13 to 19 in the state. Girls regularly attending institutions for education or vocational or sports training. Girls of Child Care Institutes registered under Juvenile Justice Act (JJ), 2000 within age of 18-19 years. Components of Scheme: Annual Scholarship of Rs. 500: It is for unmarried girls aged 13-18 years enrolled in classes VIII-XII in government recognized regular or equivalent open school or equivalent vocational or technical training course. One time Grant of Rs. 25,000: It is for girls turned 18 at time of application, enrolled in government recognized regular or open school and colleges or pursuing vocational or technical training or sports activity or is inmate of Home registered under JJ Act. Progress: So far around 50 lakh girls from the state have been benefited by scheme and removal of ceiling will help another three lakh more girls annually. Since its launch, it has helped to reduce number of school drop out of girls by nearly 11.5%.The scheme was awarded United Nations Public Service Award in June 2017.

11) NITI Aayog has launched mobility pitch competition Pitch to MOVE to provide budding entrepreneurs of India unique opportunity to pitch their business ideas to distinguished jury. Using this platform, startups working in various fields of mobility can pitch their ideas to industry leaders and venture capitalists for raising investments. Pitch to MOVE competition: The competition is organised by NITI Aayog in collaboration with Invest India and Society of Indian Automobile Manufacturers (SIAM). It is part of series of Global Mobility Summit, engaging featured events in run up to the main event. It aims to identify and incentivize (also reward) startups offering innovative solutions to Government realize its vision of shared, connected, intermodal and environment friendly mobility for India. Its objective is to harness latest disruption for generating employment and growth in our country. In this competition, startups can be from domain of public mobility, electric vehicles (EVs), shared transport, last mile connectivity, passenger transportation, battery technology, automotive IoT, freight and logistics, powertrain and drivetrain, experiential, travel, mobility infrastructure and automotive electronics etc. The competition is open to primarily startups from various parts of India who are interested in showcasing their business ideas to jury members. The winners of this competition will receive support from VCs and will be felicitated by Prime Minister Narendra Modi during Global Mobility Summit scheduled to be held on 7-8 Sep 2018 in New Delhi.Continue Reading W.B.C.S Current Affairs 11 August 2018 to 17 August 2018.

12) Scientists have developed Aerogel, a transparent heat-resistant super-insulating gel using beer waste. It may be used to build greenhouse-like habitats for human colonised on extraterrestrial habitats such as Mars or Moon. It could also be used on buildings on Earth to help make huge savings on energy costs. Key Facts: Aerogels defining feature is air, as it comprise at least 90% gas by weight. Their thin films are made up of crisscrossing patterns of solid material that trap air inside billions of tiny pores, similar to bubbles in bubble wrap. This trapping capacity makes them good insulators. Recently developed transparent heat-resistant super-insulating aerogel using beer waste looks like flattened plastic contact lens film (roughly 100 times lighter than glass). It is transparent compared to similar products in market allowing to see-through it. It is also resistant to heat. It is also cheaper to produce because it comes from beer waste. Potential Applications: It could also be used on buildings on Earth to help make huge savings on energy costs. It can be also used in windows and also in extraterrestrial habitats. It enables to harvest sunlight through that thermally-insulating material and store energy inside, thus protecting from big oscillations in temperature especially on Mars or on moon.

13) Recently hackers have stolen (illegally withdrawn) Rs .94 crore from Pune’s Cosmos Cooperative Bank via ATMs in 28 countries. It is possibly first of its kind coordinated digital attack on Indian bank. In this cyber heist considered to be originated in Canada, Rs. 78 crore were illegally withdrawn in more than 12,000 ATM transactions in 28 countries. Rs 2.5 crore were made in different places within India with another 2,800 transactions. Moreover, Rs 13.5 crore was transferred to Hong Kong-based entity using the Society for Worldwide Interbank Telecommunications (SWIFT) facility. Modus Operandi of Hackers: The illegal withdrawals were enabled by malware attack which authenticated debit card transactions bypassing the bank’s computerised core banking systecore banking system (CBS), which allows banks to settle cash dispensation requests raised at ATMs. CBS of the bank houses all the data of its customers. Once request is raised by swiping of card at ATM, it is transferred to CBS of bank using switching system. After checking available credit in individual account, CBS either allows or turns down request, which is again transmitted to payment systems via switching system. The malware had created proxy switching system, which had bypassed need for validation by CBS of bank. The operation of switching systems involves variety of agencies, including banks, which participate in complex yet lightning fast process of dispensing money from teller machine. This might have been preceded by another cyber-attack, resulting in data theft of hundreds of bank’s debit cards. The information on these debit cards were then have been cloned on to fake cards used in physical withdrawal of cash from ATMs across the world. The illegally withdrawn money has gone out from bank’s corpus and not from individual accounts of the bank’s customers.

14) Indian rupee for first time in history plunged to record low of Rs. 70.07 against US dollar on 14 August 2018. However, it recovered later at around Rs. 69.84 after heavy intervention by Reserve Bank of India (RBI). This sudden deprecation of rupee is similar to fall of other currencies of emerging markets triggered by crash in Turkish currency lira. Background: Turkish lira has been in free fall following political and economic problems in Turkey, combined with fresh trouble on the external front. It has slid by almost 50% against dollar in past one year. The primary reason for ongoing rout in lira is poor economic management by government of President Recep Tayyip Erdogan. Turkish economy is overheating due to soaring inflation (has reached annual rate of nearly 16% in July 2018), mounting levels of foreign debt and very high current account deficit (CAD). Moreover, both Turkish government and central bank are facing serious loss of credibility. There are also signs of massive bubble in construction sector of Turkey, which is further threatening country’s already fragile banking system. Impact of Rupee: Rupee has been on downslide in 2018 and has slipped 9% in 2018 as foreign investors sold $6.8 million and $5.15 billion in equity and debt markets respectively. Besides, Turkey’s currency crisis has triggered for fresh selling across emerging markets and further down sliding rupee sharply. Rupee is one of the worst performing emerging market currencies and hardest hit in Asia due fall in Turkish lira. It is depreciating due to external factors and at this stage it is not serious economic issue as depreciation is in line with other currencies. In comparison to many other currencies, rupee has not seen that much depreciation. In future, if global currencies show further meltdown, rupee will also fall further. Implications of rupee’s fall: On Imports: Weak rupee can act as kind of import tax. Due to fall in rupee, importers (especially oil companies and other import-intensive companies) will be hardest hit as cost of importing goods or capital goods in to India will increase. They will have to pay more Indian rupees to buy an equivalent amount of dollars. On Exports: Exporters benefits from weak rupee as they get more rupees while converting their dollar export earnings into Indian currency. India’s software exporters will benefit from rupee’s decline. On Overall Economy: RBI assess trend in rupee vis-à-vis emerging market currency pack and if all emerging market currencies are depreciating, it may further allow rupee to weaken to protect export competitiveness. However it will make imports costlier. It will increase oil prices (India is world’s third biggest oil importer and ships in about 80% of its crude oil requirements) which may exert further exert pressure on CAD and cause inflationary pressure. It may force RBI to hike interest rates to check inflationary pressures. It will also play important role in attracting long term foreign direct investment (FDI) to support make in India agenda, which has not yet taken off and one of the reason being the strong rupee value.

15) Union Ministry of Road Transport and Highways had appointed Bollywood actor Akshay Kumar as brand ambassador of its Road Safety campaigns. As part of this campaign, three short films featuring Akshay Kumar for generating public awareness towards road safety were also released. These films were directed by R.Balki and call upon people to adopt good practices in road safety to build accident-free society. Background: The subject of road safety is of supreme importance in India as approximately around 1,46,000 people had died in road accidents across the country in 2017. Majority of the road accidents involved two-wheelers, where the victims were not wearing helmets and over 65% of deaths on roads were of people in employable age. Government had introduced Road Safety Bill in Parliament (yet to pass) having provisions for stricter penalties for offenders. Union Ministry of Ministry of Road Transport & Highways also had constituted national road safety council as apex body to take policy decisions in matters of road safety. It also had requested all states and Union Territories to set up state road safety council and district road safety committee and to hold their meetings regularly.

16) IAS officer K S Srinivas has taken over as Chairman of Marine Products Export Development Authority (MPEDA). Prior to this appoitment, he had served as Joint Secretary in Department of Agriculture Cooperation and Farmers’ Welfare in Ministry of Agriculture. Marine Products Export Development Authority (MPEDA): MPEDA is a nodal coordinating state owned agency engaged in fishery production and allied activities. It was established in 1972 under Marine Products Export Development Authority Act (MPEDA), 1972. It functions under Union Ministry of Commerce and Industry. It is headquartered in Kochi, Kerala. It mandate is to increase exports of sea food including fisheries of all kinds, specifying standards, marketing, processing, extension and training in various aspects. It acts as coordinating agency with different Central and State Government establishments engaged in fishery production and allied activities.

17) Defence Acquisition Council (DAC) chaired by Defence Minister Nirmala Sitharaman approved procurement of six indigenously designed and manufactured Next Generation Offshore Patrol Vessels (NGOPVs) for Indian Navy. DAC is Defence Ministry’s highest decision-making body on capital procurement of Indian Armed Forces (Army, Navy and Air Force). Next Generation Offshore Patrol Vessels (NGOPVs): NGOPVs will be built in indigenous shipyards at approximate cost of Rs. 4941 crore. They will be fitted with state-of-the-art sensor suite with increased endurance. These platforms will strengthen maritime security by undertaking a multitude of operational roles both in blue water and littorals. These include seaward defence, protection of offshore assets, search & seizure operations and maritime interdiction operations, mine warfare, surveillance missions, anti-piracy missions, counter infiltration operations, anti-poaching and trafficking operations, humanitarian assistance and disaster relief (HADR) and search and rescue missions.

18) Government has appointed senior bureaucrat Ashish Kumar Bhutani as Chief Executive Officer (CEO) of Pradhan Mantri Fasal Bima Yojana (PMFBY). He has been appointed to post till May 2020. He is IAS officer (1992 batch) of Assam-Meghalaya cadre. Pradhan Mantri Fasal Bima Yojana (PMFBY): It is farmers’ welfare scheme launched in 2016 to ensure faster insurance services or reliefs to farmers. It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes National Agricultural Insurance Scheme (MNAIS) and Modified National Agricultural Insurance Scheme (MNAIS) by incorporating their best features and removing their inherent drawbacks (shortcomings). It aims to reduce the premium burden on farmers and ensure early settlement of crop assurance claim for the full insured sum. Objectives: Provide insurance coverage and financial support to farmers in event of natural calamities, pests & diseases. Stabilise income of farmers to ensure their continuance in farming. Ensure flow of credit to the agriculture sector. Encourage farmers to adopt innovative and modern agricultural practices. Beneficiaries: All farmers growing notified crops in notified area during season who have insurable interest in crop are eligible under this scheme. It also provides insurance benefits to Landless labourers. It is compulsory for loanee farmers availing crop loans for notified crops in notified areas and voluntary for non-loanee farmers. Key Features of Scheme: Under this scheme, farmers need to pay uniform premium of only 2% for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, farmers have to pay premium of only 5%. The premium rates to be paid by farmers are very low and balance premium will be paid by Government. Moreover, there is no upper limit on Government subsidy, so farmers will get claim against full sum insured without any reduction. It covers yield losses due to non-preventable risks, such as natural fire and lightning, storm, stailstorm, cyclone, typhoon, tempest, hurricane, tornado. It also covers risks due to flood, inundation and landslide, drought, dry spells, pests and diseases. It also covers post-harvest losses are also covered. Udder this scheme, it mandatory for use of technology such as smart phones, drones etc to capture and upload data of crop cutting to reduce delays in claim payment to farmers. Remote sensing will be also used to reduce number of crop cutting experiments. The scheme is implemented on Area Approach basis. In this case, defined area (i.e. unit area of insurance) is village or above it can be geo-mapped and geo-fenced region having homogenous risk profile for notified crop.

19) Iran has unveiled Fateh Mobin (Bright Conqueror) next generation short-range ballistic missile capable of striking targets on land and sea. The missile has successfully passed its tests. It was unveiled as part of Iran’s thrust to further boost its defence capabilities at time of rising tensions with United States. Fateh Mobin Missile: Fateh-110 missile is 100% domestically made in Iran. It is agile and has stealth, tactical and precision-guided capabilities. Its range was not specified, but experts believe that it will be between 300-500 kilometers, more than previous versions Fateh Mobin missiles (having range of around 200 to 300 kilometres). This missile was test-fired by Iran during naval exercises in the strategically important Strait of Hormoz in August 2018. This makes it first test-fire of Iranian ballistic missile in over year and the first test of Fateh missile series since March 2017. Background: Iran’s missile programme is major bone of contention with world powers, particularly United States. But Iran see it as vital for its defensive posture in troubled West Asian region. US President Donald Trump had pulled out of the 2015 Iran- P5+1 nuclear deal (Joint Comprehensive Plan of Action) between Iran and five world powers in May 2018 and had called for new agreement that restricts Iran’s missile capabilities and regional interventions.

20) Justice Manjula Chellur took oath as Chairperson of Appellate Tribunal for Electricity (ATE), Ministry of Power. Prior to this appointment, she was Chief Justice of Bombay High Court. She has been appointed for a period of 3 years or until further orders, whichever is earlier. Justice Manjula Chellur: Smt. Justice Manjula Chellur was born on 5th December, 1955 in Karnataka. She received her Bachelor of Arts degree from Allum Sunmangalamma Women’s College, Bellary. Later she had earned her law degree from Renukacharya Law College, Bangalore. In 1977, Supreme Court of India had sponsored her on Gender & Law fellowship to England’s University of Warwick. She was first woman Chief Justice of Calcutta High Court. She also served as Chief Justice of Kerala High Court and first female judge of Karnataka High Court. She was second woman to be appointed as Chief Justice of Bombay High Court in 2016 and retired in December, 2017. Appellate Tribunal for Electricity (ATE): It has been established by Union Ministry of Power in April 2004 by virtue of Section 110 of The Electricity Act, 2003. It has jurisdiction throughout India has been set up to hear appeals or original petitions against orders of Adjudicating officer or The Central Regulatory Commission or State Regulatory Commission or Joint Commission constituted under Electricity Act. It is conferred with original jurisdiction to hear petitions under Section 121 of the Act and issue directions to any appropriate commission for performance of its statutory functions. It consists of Chairperson and three other Members. Every Bench constituted by Chairperson consists of at least one Judicial Member and one Technical Member. The tribunal ordinarily sits at Delhi.

21) Union Ministry of Environment, Forest and Climate Change (MoEFCC) has notified rules for utilisation of more than Rs 66,000 crore afforestation funds by states/UTs and for setting up authorities to monitor its use for afforestation and conservation. The rules have been framed two years after Compensatory Afforestation Fund (CAF) Act, 2016 to this effect was enacted. Key Facts: The fund is accumulated amount which user agencies have been depositing as compensation for diverting forest land for non-forest purposes such as setting up industries or creating infrastructure, over the past 10 years. Since rules for utilisation of fund have been notified, unspent amount will now be transferred to National Compensatory Afforestation Fund (NCAF) at Centre and respective State Compensatory Afforestation Funds in phased manner, depending on its utilisation. The national and state compensatory afforestation funds are both non-lapsable and have been established under Public Account of India and Public Account of each state. They can be utilised for only activities listed under the CAF Act. Key Features of Rules: The rules specify that 80% of compensatory afforestation amount will be utilised by states for plantations, assisted natural regeneration of forests, pest and disease control in forest, forest fire prevention, soil and moisture conservation works and improvement of wildlife habitat, among other things from list of 13 permissible activities. The remaining 20% will be used for 11 listed works to strengthen infrastructure related forest and wildlife protection. The list includes third-party monitoring of works, development of certification standards, forest certification and casual hiring of local people to assist forest department staff. It also specifies that working plan will be taken up in consultation with the gram sabha or village forest management committee. Background: Though Parliament had enacted Compensatory Afforestation Fund (CAF) Act, 2016 to utilise money, it could not be implemented in absence of enabling rules within Act for two years. As result, only Rs 14,418 crore out of Rs 80,716 crore were disbursed to states/UTs under temporary and time-consuming mechanism. The remaining Rs 66,298 crore therefore has been lying unspent with ad hoc Compensatory Afforestation Fund Management and Planning Authority (CAMPA) created by Supreme Court order in 2009. Among states, Odisha has highest share (Rs 9,725 crore) in accumulated fund, followed by Chhattisgarh (Rs. 7,288 crore), Madhya Pradesh (Rs 6,353 crore) and Jharkhand (Rs 5,193 crore).Continue Reading W.B.C.S Current Affairs 11 August 2018 to 17 August 2018.

22) National Wildlife Genetic Resource Bank was inaugurated at Centre for Cellular and Molecular Biology’s (CCMB) Laboratory of Conservation of Endangered Species (LaCONES) facility in Hyderabad, Telanagana. It is India’s first genetic resource bank where genetic material will be stored for posterity which will further the cause of conservation of endangered and protected animals. National Wildlife Genetic Resource Bank: It is equipped with sophisticated equipment to preserve the genetic resources that could be utilised to virtually resurrect an animal species in case it goes extinct. It will cryopreserve living cell lines, gametes and embryos of endangered wild animal species in India. For cryogenic preservation, researchers at CCMB-LaCONES will use liquid Nitrogen that is cooled down to as low as minus 195 degrees Celsius. It will aid wild life conservation efforts by taking up artificial reproduction, conducting studies in evolution biology and wildlife medicine. Thus, it will also help in protecting India’s biodiversity and environment. So far this bank has collected and preserved genetic resources of 23 species of Indian wild animals. Background: To develop this facility, CCMB researchers had conducted detailed study of Frozen Zoo, San Diego Zoo, US, which is considered as world’s largest and most diverse genetic bank of living cell cultures, oocytes, sperms and embryos of extinct and endangered species. CCMB-LaCONES is only laboratory in India that has developed methods for collection and cryopreservation of semen and oocytes from wild animanls and successfully reproducing blackbuck, spotted deer and pigeons. LaCONES has developed universal DNA based marker for identification of wild animals from parts and remains. It also has DNA banking of more than 250 species of mammals, birds and reptiles.

23) The Digital North East Vision 2022 was released in Guwahati, Assam by Union Minister for Electronics & Information Technology Ravi Shankar Prasad. It was released in presence of Chief Ministers and IT Ministers of North East States and senior officials of Central Government Ministries including DoT and DoNER etc. First electronics manufacturing cluster in northeastern region was also inaugurated in Guwahati, Assam. Digital North East Vision 2022: He vision document emphasizes on leveraging digital technologies to transform lives of people of north east and enhance ease of living. It identifies eight digital thrust areas namely, Digital Infrastructure, Digital services, Promotion of Electronics Manufacturing, Digital empowerment, Promotion of IT and ITes including BPOs, Digital Payments, Innovation & Startups and Cyber security. It has developed state-wise roadmaps for implementing digital initiatives in North East States. Through these, it aims to empower the people of the North Eastern region. Under Digital North East, Union government will invest nearly Rs. 10,000 crore in egion over next 4 years to implement more than 400 projects. Digital North East is envisioned as an integral part of Digital India programme. It will help in leveraging power of Information Technology to leapfrog the overall development of North East region and realize its full potential.

24) Delhi Police has inducted India’s first all-woman Special Weapons and Tactics (SWAT) team for anti-terrorist operations. The all-woman SWAT team is the brainchild of Delhi Police Commissioner Amulya Patnaik. It was formally inducted by Home Minister Rajnath Singh. Key Facts: The all-woman SWAT team was inducted after rigorous training of around 15 months from specialists all across India and abroad. It comprises 36 women commandos from northeastern states (13 members from Assam, 5 from Arunachal Pradesh, 5 from Sikkim, 5 from Manipur, 4 from Meghalaya, 2 from Nagaland and 1 from Mizoram and Tripura each). They have undergone training to handle urban situations as well as jungle operations. They are also well-versed in Israeli Krav Maga, an unarmed combat style. Their expertise includes unarmed combat, ambush and counter-ambush and urban operations like building interventions, vehicle intervention and VVIP security. They are skilled at using weaponry like MP5 submachine guns and Glock-21 pistols. They will be deployed at strategic locations in Central and South Delhi as well as Red Fort and India Gate during Independence Day and Republic day celebrations.

25) Union Civil Aviation Ministry has given in-principle approval to set up water aerodromes in the country. To start with it has identified five states: Odisha, Gujarat, Maharashtra, Andhra Pradesh and Assam for development of water aerodromes. In the first phase of the project, Chilka Lake (Odisha), Sabarmati River Front and Sardar Sarovar Dam (Gujarat) have been identified for the development of such facilities. Key Facts: Airdrome is location from which aircraft flight operations take place, regardless of whether they involve air cargo, passengers. The development of aerodromes projects in India will pave way for operation of amphibian planes (both in land and water) to enhance air connectivity. These water aerodromes will be set up near tourist locations and places of religious importance. Since there is no historical data, the project will be done on a pilot basis, initially. The entity looking to set up water aerodrome has to take approvals from authorities, including ministries of defence, home, environment and forests, and shipping. DGCA already has issued regulations prescribing procedure and requirement for licensing of water aerodromes. The water aerodrome cannot be used for scheduled air transport services without licence. The issued licence will be valid for two years. Initially, provisional licence will be issued for period of six months, during which implementation of water aerodrome operation will be monitored and regular licence will be accorded afterwards. Sea-planes: Sea-planes are small fixed-wing aircrafts designed for taking off and landing on water and do not require capital-intensive infrastructure for operations. They are considered ideal for high-end travel to destinations that are far by road and are not equipped with airports. They require either 1-km long airstrip or water body, which is one km long and at least 10 feet deep.

26) India has handed over 404 houses built for Indian-origin people in Sri Lanka’s tea plantation areas at Dunsinane Estate in Nuwara Eliya city. This is first lot of houses built under Indian Housing Project in Plantation Areas in Sri Lanka. Indian Housing Project in Plantation Areas: Under this project close to 47,000 houses so far have been completed out of total 60,000. With grant of over US $350 million, it is India’s largest assistance project in any country. Houses built under it are provided to Indian-origin people, mostly Tamils in Sri Lanka’s tea plantation areas. India is also considering to sign agreement for construction of additional 10,000 houses at cost of 12 billion Sri Lankan Rupees under this project. Background: Indian-origin Tamils, mostly employed in tea and rubber plantations in Sri Lanka, lack proper housing. They are mostly residing in central hill areas of the island country. They were brought from India by British rulers during 19th century to work in coffee plantations in Sri Lanka. More than million are still associated with tea and rubber plantations. Though they have been given the Sri Lankan citizenship, housing is one of the major issue for these workers employed as daily wagers. Earlier, Sri Lankan Government led by President Maithripala Sirisena had formulated ational plan of action for the plantation workers and planned for construction of 55,000 houses till 2020.

27) The World Elephant Day is observed every year on August 12 to create awareness of urgent plight of African and Asian elephants. It also seeks to share knowledge and positive solutions for better care and management of captive and wild elephants. In India, cultural event Gaj Mahotsav was organised by Wildlife Trust of India (WTI) and Ministry of Environment, Forests and Climate Change (MoEFCC) on this occasion of this day. It was aimed to sensitise people urgent plight of elephants through different art forms including an exhibition of elephant themed paintings and installations. Background: The first International Elephant Day was held on August 12, 2012. Since then observed annually and is dedicated to preservation and protection of the world’s elephants. This day was first conceived in 2011 by Michael Clark and Patricia Sims, two filmmakers from Canada, as well as Sivaporn Dardarananda, Secretary-General of the Elephant Reintroduction Foundation in Thailand. This day highlights need for better protection for wild elephants, improving enforcement policies to prevent the illegal poaching and trade of ivory, conserving elephant habitats, better treatment for captive elephants etc. This day is now supported annually by more than 65 wildlife organizations and many individual around the world. African elephants are listed as Vulnerable and Asian elephants as Endangered on the IUCN Red List of threatened species. The current population estimates are about 400,000 for African elephants and 40,000 for Asian elephants. Some of the major threats faced by both African and Asian elephants are escalation of habitat loss, poaching, human-elephant conflict and mistreatment in captivity etc. Note: Indian elephant (Elephas maximus indicus) is one of three recognized subspecies of Asian elephant and native to mainland Asia is national heritage animal of India (declared in 2011).

28) International Youth Day is observed every across the world on 12 August to draw attention to give set of cultural and legal issues surrounding youth. Observance of this day seeks to highlight role of young women and men as essential partners in change and opportunity to raise awareness of challenges and problems facing the world’s youth. The theme for this year is ‘Safe Spaces for Youth’. It aims to highlight need of safe spaces where youth can come together, engage in activities related to their diverse needs and interests, participate in decision making processes and freely express themselves. The theme supports 2030 Agenda for Sustainable Development, specifically Sustainable Development Goal (SDG) 11, emphasizes need for provision of space towards inclusive and sustainable urbanization. International Youth Day (IYD): It was instituted by the United Nations General Assembly (UNGA) by passing resolution 54/120 in December 1999. It was first observed on 12 August, 2000. The day was instituted by UNHA on the recommendation made by the World Conference of Ministers Responsible for Youth held in Lisbon (Portugal) from 8 to 12 August 1998. The first IYD was observed on 12 August, 2000. Background: There are currently 1.8 billion young people between ages of 10 and 24 in the world. This is the largest youth population ever and world ins getting younger every day. As per census 2011, there are 364.66 million youngsters in the 10-24 age group in India. They constitute over 30% of the total population. This makes India one of the youngest nations of the world. But 1 in 10 of the world’s children live in conflict zones and 24 million of them are out of school. Political instability, limited space for political and civic participation, labour market challenges have led to increasing isolation of youth in societies.

29) The projects for defence industrial corridor in Aligarh, Uttar Pradesh were launched recently by Union Defence Minister Nirmala Sitharaman and Uttar Pradesh Chief Minister Yogi Adityanath. It was launched as part of the Union Government’s efforts to develop specialised zones dedicated to defence production in the state. Key Facts: As part of defence corridor in UP, six nodal points, Agra, Aligarh, Lucknow, Kanpur, Chitrakoot and Jhansi have been identified. There will be exhibition of products by armed forces, defence public sector undertakings (PSUs) and Defence Research and Development Organisation (DRDO) which are planned to be indigenised over the next five years. Background: Defence Manufacturing was identified as one of the 25 key sectors as part of Make in India initiative. In 2018-19 Union Budget, Government had announced setting up of two corridors – one in Tamil Nadu and other in UP- exclusively for defence manufacturing. The main purpose of setting of these two corridors is for inclusion of Indigenous Design, Development and Manufacture (IDDM) category and giving it top priority in capital acquisition.

30) Union Government has announced 50% reservation for women in upcoming recruitment of 9500-10000 jawans for the Railway Protection Force (RPF). This decision aims to create more employment opportunities for women. It was announced by Union Railways Minister Piyush Goyal in Patna, Bihar. He also announced 13,00,00 jobs are also coming up in Indian Railways in which there will be computer-based test and no interviews. Railway Protection Force (RPF): RPF is security force entrusted with protecting railway passengers, passenger area and railway property of the Indian Railways. It was introduced for the first time in the central act of 1957. It is headquartered in New Delhi. It functions under the authority of Union Ministry of Railways. It has powers to arrest, investigate and prosecute criminals under its jurisdiction.

31) Former Chilean president Michelle Bachelet (66) was appointed as next United Nations High Commissioner for Human Right. She was nominated by UN Secretary General Antonio Guterres and her appointment was approved by UN General Assembly. She will have four year term and shall replace Jordanian diplomat Zeid Ra’ad al-Hussein (served a single term, beginning in 2014). Bachelet most recently had served as President (first women) of Chile (from 2014 to 2018 and 2006 to 2010). She was first Executive Director of UN-Women between 2010 and 2013. She has also served as Minister of Defence and Minister of Health in Chile. UN Human Rights High Commissioner: He/she is mandated to promote and protect the universal exercise and full realization of human rights, across the world, as established in UN Charter. He/she is also principal official who speaks out for human rights across whole UN system, strengthening human rights mechanisms, enhancing equality, fighting discrimination in all its forms, strengthening accountability and rule of law, widening democratic space and protecting most vulnerable from all forms of human rights abuse. The Office was created in 1993. Bachelet will be overall seventh High Commissioner since its creation. Her predecessor Zeid Ra’ad Al-Hussein has been in office since 1 September 2014. His predecessors are: Jos Ayala-Lasso (1994-97); Mary Robinson (1997-2002); Sergio Vieira de Mello (2002-03); Louise Arbour (2004-08); and Navi Pillay (2008-14).

32) Indian Navy has launched Operation Madad, major rescue and relief operation in flood-hit Kerala. Indian Army also has launched Operation Sahyog to rescue people in flood-hit Kerala. Both operations will support rescue and relief efforts of civil administration and National Disaster Relief Force (NDRF). Operation Madad: The operation was launched to assist state administration and undertake disaster relief operations due to unprecedented flooding in many parts of Kerala following incessant rainfall and release of excess water from Idukki and other dams. Under it, Naval helicopters were also deployed for ferrying divers, power tools, axes and relief material to flooded areas to augment ongoing relief operations. Moreover, 50-men contingent was also positioned at Naval Armament Depot (NAD) Aluva fully equipped for assistance in any kind of eventuality. In addition, Naval Hospital, INHS Sanjivani also rendered medical assistance as required. Naval personnel from INS Venduruthy also have set up community kitchen. Operation Sahyog: Indian Army has deployed its men and machinery into disaster relief and rescue operations at Kannur, Kozhikode, Wayanad and Idukki after incessant rain and landslides hit various northern districts of the state. Karnataka and Kerala Sub area Headquartered at Bangalore was controlling the “Operation Sahyog” in Kerala. It has deployed total of eight columns of army personnel in various parts of Kerala in which two columns were exclusively kept for worst-hit Idukki district. In addition, 80 army personnel from Madras Regiment were deployed for ongoing rescue and relief operation for tourists at Pallivasal in Idukki. The army constructed temporary bridges for the evacuations of the stranded people from the isolated villages.

33) Axis Bank became first bank in the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions through its micro ATM tablets. These micro ATM tablets are Standardisation Testing and Quality Certification (STQC) certified and UIDAI compliant registered devices with completely integrated iris sensors. How it works? The transaction process through iris scan is very simple. Customer need to select desired service (funds transfer, cash withdrawal) and feed-in their Aadhaar numbers in micro ATM. Next, they have to choose IRIS as desired mode of authentication. Verification will be done by scanning eyes of customers through tablet’s iris sensor camera in 3-5 seconds. The transaction will be completed after biometric details are verified from UIDAI database. Axis Bank is presently running pilot program of iris-based Aadhaar authentication for its customers at eight branches in rural segment largely covering areas of Punjab, Haryana, Gujarat and Andhra Pradesh. It is also exploring its application for varied services such as loan processing, insurance, eKYC account opening and others, most likely extending to the semi-urban and urban regions as well. Significance: Iris scan technology is completely contactless and provides up to 98.2% authentication success rate and offers edge over other prevalent biometric modes. It will help to boost bank’s financial inclusion efforts by making Aadhaar authentication process hassle-free and offering easier access to digital banking for consumers especially in rural parts of the country. Micro ATMs completely eliminate requirement of debit cards, passwords, PINs, and user IDs, and empower consumers to avail banking services using only their Aadhaar numbers and biometrics (iris scan or fingerprint scan).

34) According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) had 7% in June 2018, five-month high. This was on account of higher output in mining, manufacturing and power generation segments. Moreover, CSO also revised IIP upwards for May 2018 at 3.9% from previous estimate of 3.2% estimated earlier. Key Facts: The cumulative IIP growth for period April-June 2018 was 5.2% over corresponding period of previous year. The manufacturing sector in June 2018 grew by 6.9%, as against decline of 0.7% in the year-ago month. Power generation segment grew by 8.5% in June against 2.1% growth year ago. The mining sector output recorded 6.6% growth in June against 0.1% in June 2017. Index of Industrial Production (IIP): IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation. Base year: The CSO had revised the base year of the IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy and improves quality and representativeness of indices. The revised IIP (2011-12) reflects changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP). Sector wise items and weightages: IIP covers 407 item groups. Sector wise, the items included falls into 3 categories viz. Manufacturing (405 items), Mining (1 items) & Electricity (1 item). The weights of the three sectors are 77.63%, 14.37%, 7.9% respectively. The revised combined weightage of eight core Industries in the IIP is 40.27%.

35) Parliament has passed Insolvency and Bankruptcy Code (Amendment) Bill, 2018 to bring relief to home buyers and Micro, Small and Medium Enterprises (MSMEs). The Bill replaces ordinance promulgated in this regard and amends Insolvency and Bankruptcy Code, 2016. Key Features of Bill: The Bill recognises home buyers as financial creditors in the real estate project and giving them due representation in the Committee of Creditors (CoC), thus providing significant relief to home buyers. It will allow home buyers to invoke Section 7 of IBC, 2016 against errant developers. This will allow financial creditors to file application seeking insolvency resolution process. As financial creditors, home buyers will be able to participate in decision-making process when developers are declared bankrupt under IBC, 2016. The bill also proposes to reduce minimum voting threshold for Committee of Creditors (CoC) to 66%, from 75% for key decisions. Besides, the Bill also benefits Micro, Small and Medium Enterprises (MSME) sector from IBC. It allows promoter of MSME to bid for their own enterprise undergoing the insolvency resolution process as long as they are not wilful defaulters. Background: The IBC, 2016 provides time-bound process to resolution of insolvency among companies and individuals. Insolvency is situation where individual or company is unable to repay their outstanding debt. Government in November 2017 had set up Insolvency Law Committee to review IBC and identify issues in its implementation and suggest changes. The Committee had made several recommendations such as exempting MSMEs from certain provisions of IBC, treating allottees under real estate project as financial creditors, reducing voting thresholds of committee of creditors (CoC), among others. Subsequently, President had promulgated Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 in June 2018 after approval of Central Government.

36) The Lok Sabha has passed Arbitration and Conciliation (Amendment) Bill, 2018 to help India become hub for domestic and global arbitration for settling commercial disputes. It seeks to amend e Arbitration and Conciliation Act, 1996 which contains provisions to deal with domestic and international arbitration and defines law for conducting conciliation proceedings. Salient features of Bill: Arbitration Council of India (ACI): The Bill establishes ACI as an independent body for promotion of arbitration, mediation, conciliation and other alternative dispute redressal mechanisms. It will frame policies for grading arbitral institutions and accrediting arbitrators, make policies for establishment, operation and maintenance of uniform professional standards for all alternate dispute redressal matters and maintain depository of arbitral judgments (awards) made in India and abroad. Composition of ACI: It will consist of Chairperson who is either Judge of Supreme Court or Judge of High Court or Chief Justice of High Court or eminent person with expert knowledge in conduct of arbitration. Its other members will include eminent arbitration practitioner, academician with experience in arbitration and government appointees. Appointment of arbitrators: The Bill allows Supreme Court and High Courts to designate arbitral institutions, which parties can approach for appointment of arbitrators. For international commercial arbitration, appointments will be made by institution designated by Supreme Court. The institution designated by concerned High Court will make appointments for domestic arbitration appointments. In case there are no arbitral institutions available, then concerned High Court Chief Justice can maintain panel of arbitrators to perform functions of arbitral institutions. The application for appointment of arbitrator is required to be disposed of within 30 days. Relaxation of time limits: The Bill proposed to remove time restriction for international commercial arbitrations. Earlier under the parent Act, arbitral tribunals were required to make their award within period of 12 months for all arbitration proceedings. Completion of written submissions: The Bill requires written claim and defence to claim in arbitration proceeding should be completed within six months of appointment of arbitrators. Currently, there is no time limit to file written submissions before an arbitral tribunal. Confidentiality of proceedings: The Bill provides that all details of arbitration proceedings will be kept confidential except for the details of the arbitral award in certain circumstances. Disclosure of the arbitral award will only be made where it is necessary for implementing or enforcing the award.Continue Reading W.B.C.S Current Affairs 11 August 2018 to 17 August 2018.

37) Fertiliser major IFFCO has entered into joint venture with Congelados De Navarra to set up food processing plant at Ludhiana in Punjab with an investment of Rs 325 crore. With this joint venture, co-operative IFFCO for first time will foray into food processing sector. Congelados De Navarra company based in Spain is pioneer in quick frozen (IQF) technology. It is into processing of vegetables, fruits, herbs and ready-made pre-cooked dishes. Key Facts: In the JV, IFFCO will have 30% stake while Congelados De Navarra will have the remaining 70% stake. This company will invest about Rs 325 crore to set up greenfield food processing unit. The proposed plant will source produce like potatoes, peas and cauliflower from farmers and then process them for sale in domestic and exports market. IFFCO’s foray into food processing business will benefit of farmers. It will also contribute in the government’s goal to double farmers income by 2022, he added. This new facility food processing facility will also generate 400 direct and 5,000 indirect local jobs in Punjab. Indian Farmers Fertiliser Cooperative Limited (IFFCO): IFFCO is large scale fertiliser cooperative federation in India which is registered as Multistate Cooperative Society. It is one of India’s biggest cooperative society which is wholly owned by Indian Cooperatives. It was founded in 1967 with just 57 cooperatives and at present it has amalgamation of over 36,000 Indian Cooperatives with diversified business interests ranging from General Insurance to Rural Telecom apart from its core business of manufacturing and selling fertilisers. It is headquartered in New Delhi.

38) The International Monetary Fund (IMF) in its report has projected India’s GDP growth 7.3% in the 2018-19 fiscal and 7.5% in 2019-2020 on strengthening of investment and robust private consumption. India’s near-term macroeconomic outlook for India is broadly favourable. Key Highlights of IMF Report: Headline inflation: It is projected to rise to 5.2% in fiscal year 2018/19, as demand conditions tighten, along with recent depreciation of rupee and higher oil prices, housing rent allowances and agricultural minimum support prices. But it has averaged 3.6% in fiscal year 2017/18 which 17-year low, reflecting low food prices on return to normal monsoon rainfall, agriculture sector reforms, subdued domestic demand and currency appreciation. Current account deficit (CAD): It is projected to widen further to 2.6% of GDP on rising oil prices and strong demand for imports. CAD will be offset by slight increase in remittances Financial sector reforms: They have been undertaken to address twin balance sheet problems, as well as to revive bank credit and enhance efficiency of credit provision by accelerating cleanup of bank and corporate balance sheets. India’s stability-oriented macro-economic policies and progress on structural reforms are continuing to bear fruit. Way Forward: Continued fiscal consolidation is needed for India to lower elevated public debt levels, supported by simplifying and streamlining GST structure. Further, while important steps have been taken to improve recognition of Non-Performing Assets (NPAs) and recapitalise Public Sector Banks (PSBs), more needs to be done. Persistently-high household inflation expectations and large general government fiscal deficits and debt are still key macroeconomic challenges. PSB Reforms: Large fraud in PSBs highlights financial sector weaknesses and underscores need for government to take further steps to improve PSBs’ governance and operations, including by considering more aggressive disinvestment. Economic risks: Domestic economic risks are tilted to downside and external side risks include further increase in international oil prices, tighter global financial conditions, retreat from cross-border integration including spillover risks from global trade conflict and rising regional geopolitical tensions. Domestic risks pertain to tax revenue shortfalls related to continued GST implementation issues and delays in addressing twin balance sheet problems and other structural reforms.

39) Union Cabinet has approved extension of term of Commission to examine the issue of Sub-categorization of Other Backward Classes (OBCs) in Central List till November 2018. This is third extension granted to commission for submission of its politically crucial report on creating quotas within quotas. Background: The five member Commission was constituted under article 340 of Constitution in October, 2017 with approval of President. It is headed by former Chief Justice of Delhi High Court Justice (Retd) G. Rohini. Its report was to be submitted within three months (i.e. by January 2018). But since then, it has sought and was granted extensions twice citing voluminous nature of its task. The commission has been formed under Article 340 of the Constitution which was also used to establish landmark Mandal Commission (set up in 1979) more than two decades ago which recommended 27% reservation for socially and educationally backward classes in higher education and government jobs. Over the years, benefits of this reservation was mostly cornered mostly by dominant OBC groups. The sub-categorisation commission’s report is expected to recommend earmarking sub-quotas for the extremely backward classes within the OBCs. Even National Commission for Backward Classes had in 2015 had noted that unequals cannot be treated equally and recommended that OBCs be categorised into extremely backward classes, more backward classes and backward classes. At present, 11 states have sub-categorised OBCs for their state services. Centre based on devise a similar methodology for the central OBC list. Mandate of Commission: The Sub-categorisation commission was tasked to examine extent of inequitable distribution of benefits of reservation among castes included in broad category of OBC in central government jobs and educational institutions especially with reference to OBCs included in Central list. It was also tasked to take up exercise of identifying respective castes, sub-castes, communities synonyms in Central List of OBCs and classify them into their respective sub-categories. It is mandated was to work out mechanism, norms, criteria and parameters, in scientific approach, for sub-categorization within such OBCs.

40) Lok Sabha has passed Representation of the People (Amendment) Bill, 2017 by voice vote to extend the facility of ‘proxy voting’ to overseas Indians, on the lines of service voters. The Bill seeks to amend Representation of People Act (RPA), 1950 and Representation of People Act (RPA), 1951 to allow for proxy voting and make certain provisions of these Acts gender-neutral. Background: RPA, 1950 provides for allocation of seats and delimitation of constituencies for elections (state assembly and Lok Sabha elections), qualifications of voters, and preparation of electoral rolls. It permits registration of persons in electoral rolls who are ordinarily resident in constituency. These persons include persons holding service qualification (such as member of armed forces, member of armed police force of state, serving outside state or central government employees posted outside India and persons holding certain offices in India declared by President in consultation with Election Commission. Under it wives of such persons are also deemed to be ordinarily residing in India. RPA, 1951 provides for conduct of elections and offences and disputes related to elections. It permits an overseas voter to vote only in person. In this case overseas voter is citizen of India who is absent from his place of ordinary residence in India. Currently, only service personnel are permitted to vote through proxy. Key Features of Bill: The Bill replaces the term ‘wife’ with ‘spouse’ in both Acts. It replaces wife with spouse of a person holding service qualification to vote. It amends RPA, 1951 to permit overseas voter to cast their vote in person or by proxy in constituency where elections are being conducted. Significance: According to rough estimates, there are about 1 crore Indians settled abroad, of which 60 lakh may be within eligible voting age. By granting them proxy voting rights, overseas Indians will be able to exercise franchise during elections and also need not to spend foreign currency to come to India during elections. Moreover, this decision will also enable overseas Indian to considerably sway in election results, especially in states such as Punjab, Kerala and Gujarat where a number of expats hail from.

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