WBCS Current Affairs 16/08/2014 to 22/08/2014

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1.China opened its second railway line in Tibet, constructed at a cost of $ 2.16 billion, close to Indian border in Sikkim. The rail link will make efficient mobility of its military in the remote and strategic Himalayan region.
The railway line stretched over 253 km connects Tibet’s provincial capital Lhasa with Xigaze, the second-largest city in Tibet and also the traditional seat of the pro-Beijing Panchen Lama – considered second important Monk in Tibetan hierarchy.

2.India has opposed a recent ruling passed by the World Trade Organisation (WTO) in a case related to imposition of penal duties by the US on steel exports by Indian companies. India has filed an appeal against the ruling. Though the report of the dispute panel favoured India in its stance that the US’ determination of Countervailing Duties (CVD)—a levy to neutralize Government subsidies — on high grade iron ore violated WTO norms but the international body rejected a number of objections raised by India on specific technical issues related to how penal duties are to be estimated.

3.With a view to produce the world’s most affordable motorcycle,Yamaha Motor has launched Project Indra. Yamaha, which sees both India and Africa as future growth regions, is expected to be price the bike around Rs 30,000. The ASEAN region and Latin America could also be target markets.
Yamaha’s Project Indra
INDRA which is an acronym of “Innovative and New Development based on Responsible Analysis” will involve teams from the company’s manufacturing and R&D operations in India working in sync with their vis-à-vises in Japan.

4.Along with decline in the overall Credit Deposit (CD) ratio of banks in Punjab for the period ending June 2014, the CD ratio of state’s rural sector has been registered the “lowest” in comparison to that of in urban and semi-urban sectors. As per latest report of State Level Bankers’ Committee (Punjab), the CD ratio of banks in Punjab’s rural sector plunged to 60.76% as on June 2014 from 63.21% in corresponding period of year 2013.
“Credit Deposit (CD) ratio” refers to how much a bank gives as loans of the deposits it has mobilized. The low ratio shows banks are not fully utilizing their resources for banking activity.

5.The Central Government has re-launched the Varishtha Pension Bima Yojana, for the benefit of citizens aged 60 years and above. The scheme will provide financial security to almost half a million senior citizens of the country by ensuring regular income during old age.
The scheme will benefit the vulnerable section of society with limited resources as it will provide monthly pension ranging from Rs 500 to 5,000 per month to senior citizens of the country. The Scheme will be administered by the Life Insurance Corporation, LIC.

6.The militaries of India and Nepal will jointly conduct a Combined Training Exercise, Surya Kiran-VII, from August 18 to August 31, 2014.
The combined training will be conducted in the mountain terrain of Pithoragarh in the Northern Himalayas at an altitude of 5000-6000 feet under the aegis of GARUD DIVISION.

7.India has join hands with Singapore to get its expertise in building ‘Smart Cities’ even as the two nations decided to ramp up economic engagement besides defence and security cooperation. Recently, India allocated over Rs 7,000 crore in its Budget 2014-15 for development of 100 ‘Smart Cities’.

8.The Haryana government announced a windfall for the state government’s employees which includes raising the retirement age from 58 to 60 years, 25% per cent increment in Dearness Allowance, full pension after 20 years service, and various other benefits.

9.World’s first smartphone to come into existence— a $900 klutzy IBM Simon mobile phone —turned 20. The phone was developed by IBM and the American cellular company BelSouth and hit the market in 1994.

10.Rajni Razdan (64) assumed charge as new chairman of Union Public Service Commission, which conducts the prestigious civil services examination to select IAS, IFS and IPS officers among others. Outgoing chairperson D P Agrawal administered Razdan the oath as UPSC chief.

11.Prime Minister of India, Mr. Narendra Modi, commissioned INS Kolkata into the Indian Navy at a scintillating ceremony held at the Naval Dockyard, Mumbai.Key points about INS Kolkata:
Largest indigenously-built warship
Constructed by the Mazagon Dockyards Limited and designed by Navy’s design bureau.
The 6,800 tonne warship is a technology demonstrator and will mark India’s giant leap in shipbuilding technology.
To be a part of the Kolkata Class destroyers of the Indian Navy which will include follow-on ships by the name of INS Kochi and INS Chennai respectively.
The Project 15A Kolkata class destroyers are follow-on of the legendary Project 15 ‘Delhi’ class destroyers which entered service in the late 1990s.
Length: 164 m, Width: 18 m, Full load displacement: 7400 tonnes.
It derives her name from the cultural capital city of India and state capital of Bengal – Kolkata – `The City of Joy`.

12.Prime Minister Narendra Modi in his maiden Independence Day speech from the Red Fort shared his dream of a “Digital India”. He wondered what a quality education the children in villages will get, if all the villages of India are connected with Broadband Connectivity and if we are able to give long distance education to the schools in every remote corner of the villages. If we establish a network of telemedicine in the places where there is a deficit of doctors, we can set a clear guideline of the way in which health facilities have to be provided to the poor people living in those areas.
He called upon the countrymen to move towards the direction of mobile governance. A direction where every poor person is able to operate his bank account from his mobile, is able to ask for various things from the government, can submit applications, can perform all his business, while on the move, through mobile governance. He said that all this can be done by moving towards creation a ‘Digital India’.
His idea of ‘Digital India’ is not limited to just connectivity but also includes domestically manufacturing electronic goods like televisions, mobile phones, i-pads etc. which we import in large amount. If we move ahead with the dream of ‘digital India’ to manufacture electronic goods and become self reliant at least there, it would be of great relief for the treasury. He said that the idea of ‘digital India’ should also be driven by e-governance which he called “easy governance, effective governance and also economic governance”. E-governance paves the way for good governance. He said that IT that has the potential to connect each and every citizen of the country and we can realize the motto of unity with the help of ‘Digital India’.

13.While delivering his maiden Independence Day speech from the ramparts of the Red Fort, Prime Minister Narendra Modi announced a scheme on behalf of the Member of Parliament- ‘Sansad Aadarsh Gram Yojana’.
He called upon the Members of Parliament (MPs) to select any one of the villages having population of 3 to 5 thousand in their constituency. They must fix parameters according to the time, space and situation of that locality. It will include the conditions of health, cleanliness, atmosphere, greenery, cordiality etc. On the basis of those parameters, each of the MPs should make one village of his or her constituency a Model Village by 2016. After 2016, select two more villages for this purpose, before the General Elections in 2019. And after 2019, each Member of Parliament, during his/her tenure of 5 years must establish at-least five model villages in his/her area.
He also urged the Members of Parliament from urban areas to adopt one village of their choice. He also called upon the MPs from Rajya Sabha to adopt one of the villages. He hopes that if one model village is established in each district of India then the surrounding villages shall be automatically inspired to follow that model. He promised to present a complete blueprint of “Sānsad Adharsh Grām Yojana” (Members of Parliament Model Village Scheme) before all Members of Parliament and State Governments on the birth anniversary of Jai Prakash Narayan Ji on coming October 11, 2014.

14.PM Narendra Modi, in his maiden speech from Red Fort, stressed on achieving economic self-reliance, saying the country should strive to become a manufacturing hub for global investors with ‘Zero-defect products and Zero-effect’ on environment.

15.During his speech on Independence Day, Prime Minister Narendra Modi announced a radical measure to replace the Planning Commission with a new body in a short span of time. Mr. Modi said the new institution would foster cooperative federalism, facilitate Public-Private Partnership (PPP) and help tackle the new economic challenges the faced by country in a much better way.
Mr. Modi said that the times have changed since the Planning Commission was established. He said that the new body will foster greater engagement of states in charting the country’s growth path through “cooperative federalism”.

16.In his maiden Independence Day speech from the ramparts of the Red Fort, PM Narendra Modi announced a new financial scheme named ‘Pradhan Mantri Jan Dhan Yojana’ to help the poor open bank accounts which will come bundled with a debit card and life insurance cover.
Key features of ‘Pradhan Mantri Jan Dhan Yojana’:
Rs.5,000 overdraft facility for Aadhar-linked accounts
Ru Pay Debit Card with inbuilt Rs.1 lakh accident insurance
Minimum monthly remuneration of Rs.5,000 to business correspondents who will provide the last link between the account holders and the bank.