Daily Current affairs - December 29th, 2017 for all competitive exams
The Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill
2017, initiated by the women & child development ministry, is currently
with a group of ministers (GoM) that will take a final view on the matter.
The Bill has proposed severe punishment for those engaging in the heinous
crime.
- The Bill identifies various forms of trafficking,
including for the purposes of bonded labour, sexual exploitation,
pornography, removal of organs and begging.
- Listing out the ‘aggravated forms of trafficking’,
the bill also speaks of offences such as intimidation, inducement, promise
of payment of money, deception or coercion. It mentions trafficking after
administering any drug or alcohol or for the purpose of marriage or under
the pretext of marriage.
Amendment Bill on IBC tabled
in LS
The government has
introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2017 in Lok
Sabha.
- The Bill, introduced by Finance Minister Arun
Jaitley, aims, among other things, to prohibit wilful defaulters and those
associated with non-performing assets (NPAs) from regaining control of the
defaulting company / stressed assets through the backdoor in the garb of a
‘resolution applicant’.
- The Bill seeks to repeal and replace the IBC
(Amendment) Ordinance, 2017 as well as proposes to make certain
modifications to the Ordinance (that was promulgated by the President Ram
Nath Kovind last month).
India Ranks 5th in List of
Countries with Highest NPA Levels
India has the highest level
of non-performing assets (NPA) among BRICS countries and is ranked
fifth on a list of countries with the highest levels of NPAs, as
per the report by CARE Ratings.
- The only countries ranked higher than India on the
list are Greece, Italy, Portugal, and Ireland. All these
countries, along with Spain, are commonly referred to as PIIGS and have been victims of sovereign debt crises in
recent years.
- At 9.85 percent, India’s NPA ratio is over 400
basis points higher. Spain is the only PIIGS country ranked
lower than India on the list, with an NPA ratio of 5.28 percent.
A nonperforming asset (NPA)
refers to a classification for loans on the books of financial institutions
that are in default or are in arrears on scheduled payments of principal or
interest. In most cases, debt is classified as nonperforming when
loan payments have not been made for a period of 90 days.
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Serious Fraud Investigation Office (SFIO)
To detect financial frauds, the SFIO is in the process of developing an
early warning system (EWS), and a consulting agency has been engaged to prepare
the conceptual framework.
- In this regard, services of a consulting agency have
been engaged to develop the conceptual framework.
The Serious Fraud Investigation Office
(SFIO) is a fraud investigating agency. It is under the jurisdiction of the
Ministry of Corporate Affairs, Government of India. The SFIO is involved in
major fraud probes and is the co-ordinating agency with the Income Tax and
CBI.
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Telangana, A.P. may soon be
FMD-free
After a progressive
reduction in Foot & Mouth Disease outbreaks in Telangana and Andhra
Pradesh, the Centre as part of its prestigious FMD-Control Programme is
‘actively considering’ to declare the two States, FMD-free.
- Under the united Andhra Pradesh, in 2013, the last
double-digit outbreaks were registered in the erstwhile undivided
districts of Karimnagar, Medak and Rangareddy.
- There has been no incidence in the past four years,
officials of the Telangana Directorate of Animal Husbandry informed.
- Both the States have completed 22 rounds of the
disease control programme, bi-annually over 11 years, and Telangana will
hold a massive vaccine campaign to cover 100% bovines, in the next round
starting December 29 until January 13.
Foot-and-mouth
disease or hoof-and-mouth disease is
an infectious and sometimes fatal viral disease that
affects cloven-hoofed animals, including domestic and
wild bovids.
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New scheme for Protection of Majuli Island
A new scheme for protection of Majuli Island in Assam has been launched.
The scheme protects the island from flood and erosion. The scheme was
sanctioned by Government of India in March, 2017. The funding for the project
would be from Ministry of DoNER.
- The scheme has been framed by Brahmaputra Board
based on the recommendations of the high level Expert Committee of the
Government of India that visits the island at least twice a year to
monitor and recommend anti-erosion measures.
- The major components of the scheme include (a) Bank
revetment with geo bags filled with earth / sand for a reach length of 27
km in 14 locations (b) RCC porcupine works in 41 locations (c)
Construction of a sluice and (d) Construction of a Pilot channel for a
length of 3.50 km.
Majuli is the first island district of the country. The island is
formed by the Brahmaputra river in the south and the Kherkutia Xuti, an
anabranch of the Brahmaputra, joined by the Subansiri River in the north.
Majuli is the nerve centre of neo-Vaishnavite.
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India Signs Loan agreement
with World Bank for UP Tourism Project
An agreement for IBRD Credit
of USD 40 Million from World Bank for “U.P. Pro-Poor Tourism
Development Project” was signed between India and the World Bank.
- The programme duration is 5 years. The Project
Objective is to increase tourism-related benefits for local communities in
targeted destinations.
- The major districts under attractions in Uttar
Pradesh are Agra, Mathura, Vrindavan, Barsana and Govardhan in the
Braj region.
The World Bank is
an international financial institution that provides loans
to countries of the world for capital programs. It comprises
two institutions: the International Bank for Reconstruction and
Development (IBRD), and the International Development
Association (IDA). The World Bank is a component of the World Bank
Group.
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WHO to recognize gaming disorder as mental health
condition in 2018
In the draft of its forthcoming 11th International Classification of
Diseases, the World Health Organization includes “gaming disorder” in its list
of mental health conditions.
- The new ICD-11 entry on gaming disorder “includes
only a clinical description and not prevention and treatment options.”
- The WHO defines the disorder as a “persistent or
recurrent” behavior pattern of “sufficient severity to result in
significant impairment in personal, family, social, educational,
occupational or other important areas of functioning.”
ICD is the “basis for identification of health trends and statistics
globally and the international standard for reporting diseases and health
conditions. It is used by medical practitioners around the world to diagnose
conditions and by researchers to categorize conditions.” The WHO’s ICD lists
both mental and physical disorders.
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The World Health Organization (WHO) is
a specialized agency of the United Nations that is concerned with
international public health. It was established on 22 July 1946 headquartered
in Geneva, Switzerland. The WHO is a member of the United Nations
Development Group. Its predecessor, the Health Organization, was an agency of
the League of Nations.
Headquarters: Geneva, Switzerland
Director General: Tedros Adhanom
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Bali declares ‘garbage emergency’ amid sea of waste
The Indonesian island of Bali recently declared a “garbage emergency” in
response to the overwhelming amount of plastic waste that has floated
ashore and spoiled pristine beaches.
- A 3.6-mile stretch of beach on the island’s western
coast was declared an emergency zone after authorities realised that the
volume of plastic being washed up was endangering the tourist trade.
Indonesia is the world’s second largest contributor to marine debris,
outdone only by China, the most populous country in the world. In addition to
degrading the beaches, plastic waste blocks waterways, impacting
transportation and increasing flooding risk, while posing a risk to marine
animals.
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118-foot largest Lego tower in
Israel breaks the world record
Tel Aviv residents have
built a world record-contending, 36-metre (118ft) plastic brick tower,
featuring more than 500,000 pieces, to honour a young cancer victim in the
Israeli city.
- The multi-coloured ‘Omer Tower’, named after
8-year-old Lego fan Omer Sayag, was completed using cranes in Rabin Square
- There was no Guinness World Records adjudicator on
site to measure the ‘Omer Tower’, meaning Tel Aviv must wait for approval
from the body to confirm.
SEBI Caps Cross-Shareholding
in Rating Agencies at 10%
Markets regulator
SEBI stated that cross-holding in credit rating agencies (CRAs) will
be capped at 10percent and also decided to raise the minimum
net worth requirement to Rs 25 crore from the current Rs 5 crore.
- Also, the board of SEBI has approved a slew of
measures for tightening the financial and operational eligibility of the
promoters of CRAs, besides greater disclosure requirements for them.
The Securities and Exchange Board
of India (SEBI) is the regulator for
the securities market in India. It was established in the year 1988
and given statutory powers on 30 January 1992 through the SEBI Act, 1992
Headquarters: Mumbai
Chairman: Ajay Tyagi
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Pluto Exchange Launches
India’s First Bitcoin Trading App
Cryptocurrency dealer 'Pluto
Exchange' announced the launch of India’s first mobile application
for transacting in virtual currencies.
- The Pluto Exchange mobile app offers a solution to
the coordination problem between payment processors, financial gateways
and banks.
Bitcoin is
a cryptocurrency and worldwide payment system. It is the first
decentralized digital currency, as the system works without
a central bank or single administrator. The network
is peer-to-peer and transactions take place between users directly,
without an intermediary
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Bank of Baroda Enters into MoU
with POORTI Agri Services Pvt. Ltd
Bank of Baroda has
entered into MoU with POORTI Agri Services Pvt. Ltd to enable the
farmers to purchase agricultural inputs such as fertilizers, pesticides, seeds
etc. provided by POORTI.
- This is a Platform for Online Ordering & Rural
Transformation of India known as “POORTI”.
Bank of India
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Headquarters
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Vadodara
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Tagline
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India’s International
Bank
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CEO
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P S Jayakumar
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Small Savings Schemes’
Interest Rates Cut by 20 bps
The government slashed
interest rates on small savings schemes, including National Savings Certificate
(NSC) and Public Provident Fund (PPF), by 0.2 percentage point for
the January-March period from the rates applicable in the previous quarter.
This will prompt banks to lower deposit rates.
- As per the finance ministry notification, rates
have been reduced across the board for schemes such as National Savings
Certificate (NSC), Sukanya Samriddhi Account, Kisan Vikas Patra (KVP) and
Public Provident Fund (PPF). However, interest on savings deposits has
been retained at 4 percent annually.
Here is the complete list of schemes
with Annual rate of interest-
S. No.
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Instrument
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Annual Rate of Interest (in %)
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1.
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National Savings Certificate (NSC)
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7.6
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2.
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Sukanya Samriddhi Account
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8.1
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3.
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Kisan Vikas Patra (KVP)
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7.3
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4.
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Public Provident Fund (PPF)
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7.6
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5.
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Senior Citizens Savings Scheme
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8.3
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6.
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Savings Deposit
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4
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7.
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5 Years Recurring Deposit
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6.9
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Prince Harry Named President
of African Conservation Group
Prince Harry has been
named the president of African Parks, a conservation group that
manages a dozen wildlife areas across the continent.
- As per the environmentalist organisation, Prince
Harry will contribute to its effort to protect Africa's natural heritage
and support both wildlife and communities.
The African Conservation
Foundation works to protect Africa’s endangered wildlife and their habitats,
by tackling the root causes of biodiversity loss.
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George Weah wins landmark
Liberia presidential election
Former star footballer
George Weah was named the winner of Liberia’s presidential election on
Thursday.
- Former Liberian footballer George Weah won Liberia’s
presidential elections, defeating vice-president Joseph Boakai in a
runoff.
- Weah is set to replace Ellen Johnson Sirleaf, who
took over in 2006 at the helm of the West African state founded for freed
slaves.
Liberia
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Capital
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Monrovia
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Currency
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Liberian dollar
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President
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Ellen Johnson Sirleaf
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Mukesh Ambani tops Indian list
in 500 richest people in 2017
The world’s 500 richest
people became $1 trillion richer in 2017, more than four times their gains in
2016.
- Bloomberg index says the number of Asian
billionaires had surpassed the US for the first time.
- The 23% increase in the Bloomberg Billionaires
Index, a daily ranking of the world’s 500 richest people, compared with an
almost 20% rise for the MSCI World Index and Standard & Poor’s 500
Index.
Viswanathan Anand Wins World
Rapid Chess Championship
India’s ace chess player
Viswanathan Anand won the World Rapid Chess tournament title in Saudi
Arabia by beating Russia’s Vladimir Fedoseev 2-0 in a two-game
tie-break.
- Saudi Arabia hosted the world chess tournament for
the first time. The women’s title was won by China’s Ju
Wenjun. Dronavalli Harika was the best-placed Indian, finishing
19th.
