Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 10 - NOVEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 10 - NOVEMBER - 2016
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DAILY NEWS UPDATES

10- NOVEMBER - 2016

 

:: NATIONAL ::

LPG DISTRIBUTORS, RAILWAY CATERERS ETC ADDED TO ACCEPT 500 AND 1000 NOTES

  • LPG distributors, railway caterers, chemists, and ticket counters at Archaeological Survey of India monuments will be allowed to receive payments in the old Rs. 500 and Rs. 1,000 notes, the government announced.
  • It said those depositing over Rs. 10 lakh of unaccounted income in their accounts would face tax and a penalty of 200 per cent under the Income Tax Act.
  • Banks, which are scheduled to open on Thursday, will remain open on Saturday and Sunday as well for the convenience of people who need to exchange their high-value currency notes.
  • “If an amount of above Rs. 10 lakh is deposited in a bank account, not matching with the declared income, the same will be treated as tax evasion,” the Finance Ministry said.
  • In such a case, the tax amount plus a penalty of 200 per cent of the tax payable would be levied as per Section 270(A) of the Income Tax Act.
  • The RBI has dispensed Rs. 2,000 denomination currency notes to banks in large boxes and asked them to ration the distribution of those from their branches.
  • For at least two weeks, notes of such a denomination will be only made available from branches and not from ATMs.
  • ATMs, which will resume operations on Friday, will dispense notes only in the denomination of Rs. 100 and Rs. 50 for the next few days.
  • Large lenders like State Bank of India and ICICI Bank have decided to extend branch banking hours. In some locations, ICICI Bank branches will remain open from 8 a.m. to 8 p.m. on 10th and 11th.
  • The government has extended the exemption list for payment with old Rs. 500, Rs. 1,000 notes to metro tickets, toll plaza payments, LPG gas cylinders, railway catering, ASI monuments, and chemists.

PRESIDENT DONALD TRUMP COULD BE GOOD NEWS FOR INDIA

  • The election of Donald Trump as U.S. President could be positive news for India on a bilateral level, but it is his administration’s China policy that will be key to India’s interests, say foreign policy watchers here.
  • PM Modi was among the first world leaders to tweet his greetings to the U.S. President-elect shortly after he made his victory speech, and Mr. Trump famously said “I love Hindu,” referring to Indians at a campaign rally last month.
  • In contrast to India ties, Mr. Trump has made it clear that he sees Pakistan’s “semi-unstable” state, radical Islamists and nuclear weapons as a major problem.
  • In April this year, at a townhall meeting in Indianapolis, Mr. Trump had said: “The problem with Pakistan, where they have nuclear weapons, is a real problem.”
  • However, some suggest that India may be more affected by Mr. Trump’s foreign policy shifts on China, Russia and West Asia.

UTTARAKHAND HAS HIGHEST NUMBER OF TIGERS OUTSIDE RESERVES

  • While tiger reserves contain the majority of the country’s tiger population, a study reveals that Uttarakhand forest department’s western circle has 119 tigers.
  • This is one-third of the total tiger population found outside the 49 tiger reserves across the country.
  • The study was carried out as ‘Phase IV monitoring’, which, according to the National Tiger Conservation Authority (NTCA) guidelines, involves monitoring of tiger and its prey on an annual basis.
  • The study was undertaken in an area of 2,573.6 sq.km. spread across Uttarakhand’s Shivalik, Bhabar and Terai regions.
  • The survey found that the State’s western circle has more tigers than states such as Andhra Pradesh, Odisha, Rajasthan, Jharkhand, Uttar Pradesh, Bihar, Arunachal Pradesh and Chhattisgarh, all of which have less than 119 tigers each.
  • A similar study on tiger population is currently being undertaken in the Corbett Tiger Reserve.

DEMONETISATION WILL REDUCE FAKE CURRENCY AS WELL AS TERROR FINANCING

  • The government has said one of the reasons to demonetise currency notes of Rs. 500 and Rs. 1,000 was to curb the circulation of fake currency notes, but there seems to be no definite account of the amount of such notes in circulation.
  • As per a study done by the Indian Statistical Institute, Kolkata, in 2015, the only concrete work done on the subject, at any given point of time Rs. 400 crore worth of fake currency notes were in circulation in the economy.
  • This is merely 0.025 per cent of the total budget outlay of Rs. 19.7 lakh crore as announced this fiscal.Different agencies have their own estimates based on the recoveries made by them.
  • According to the National Crime Records Bureau (NCRB), in 2015, various law enforcement agencies seized 1,78,022 pieces of fake Rs. 1,000 currency notes.
  • This means Rs. 17 crore fake notes which were in circulation could be calculated as they could be seized.
  • Similarly, in 2015 as many as 2,99,524 pieces of Rs. 500 fake notes were seized by the agencies.
  • The Indian Statistical Institute, Kolkata study was done on the behalf of the National Investigation Agency (NIA) and it also said that Rs. 70 crore fake notes were pumped into the economy every year.
  • The supplier of raw currency notes, the ink and the silver thread is same for India and Pakistan and we have been asking the the countries like the U.K, the U.S. and Germany, where these are manufactured to stop the sale to Pakistan.”
  • Demonetisation would impact the terror financing, particularly in Jammu and Kashmir. He said terrorist outfits like Hizbul Mujahideen collect donations in Pakistan and then route the money into the State through hawala operators.
  • Many of their operators and sleeper cells here have fake currency. It will be a severe blow and for a few years we will get relief from this.

:: INTERNATIONAL ::

DONALD TRUMP BECAME 45TH PRESIDENT OF USA

  • Donald Trump’s jaw-dropping White House win is a slap in the face for Barack Obama, elected eight years ago as the country’s first black President on the promise of a nation united.
  • At the political level, Hillary Clinton’s defeat is certainly a setback for Mr. Obama, who campaigned hard for his former Secretary of State, travelling across the country and employing the charisma and charm that she sorely lacks.
  • But, aside from being the loss of a typical battle between the two major American political parties, Mr. Trump’s success is also a stinging personal blow to Mr. Obama.
  • Indeed, it would seem Mr. Obama has failed to take the pulse of this other America, a world of working class whites who felt they have been left in the lurch amid rapid fire change from globalisation and an increasingly multicultural society.
  • Mr. Trump has promised to scrap or overhaul many of Mr. Obama’s signature initiatives, such as the health care plan that bears his name, the battle against climate change and the Paris accord of 2015.
  • Just over five years later, Mr. Obama is getting ready to give up the White House to his former foil.

:: BUSINESS AND ECONOMY ::

INDIA MUST CUT IMPORT TARIFFS ON CARS, IMPROVE PORTS AND LOGISTICS TO INCREASE EXPORT

  • India must frame policies to reduce farm subsidies and cut import tariffs on cars and take steps to improve ports and logistics to emerge as an export powerhouse, according to the World Bank.
  • The Bank released a report titled ‘South Asia’s Turn: Policies to Boost Competitiveness and Create the Next Export Powerhouse’ and suggested a set of policy actions in four sectors — agribusiness, apparel, electronics and automotive.
  • With the right set of productivity-enhancing policies, South Asia, led by India, could more than triple its share in global markets of electronics and motor vehicles and come close to doubling its already goodmarket share in wearing apparel by 2030.
  • In the farm sector, passive and non-targeted subsidies have encouraged farmers to continue to produce low value crops using low productivity and unsustainable techniques while restrictions on agricultural markets have constrained productive private investments in higher value food products.
  • In order to enhance the business environment in the sector, the government needs to bring out reforms including reducing subsidies and promoting competition, according to the World Bank.
  • The government should also consider gradually reducing tariffs on final cars, as the prevailing high import tariffs on the completely built units are slowing down diffusion of good practices.
  • The electronics sector, according to the Bank, faced constraints such as underdeveloped clusters and poor trade logistics, while the apparel sector is facing difficulties to import man-made fibre, preventing upgrading and diversification.
  • India needs to reform the duty drawback scheme to facilitate the import of fabrics for exports.
  • “The current system imposes delays that are unacceptable to global buyers, cutting Indian exporters from the increasingly important manmade fibre segment,” according to the report.
  • India remains behind on ‘global value chain’ capabilities including physical capital, human capital, institutions and logistics, it said.

DEMONETISATION HAS PRECEDENTS IN OTHER COUNTRIES AS WELL

  • India is not the only country to have opted for currency demonetisation. There are similar examples from other countries as well.
  • On demonetisation of higher denomination banknotes, the RBI said, “Rs.1,000 and Rs.10,000 banknotes, which were then in circulation were demonetised in January 1946.
  • The higher denomination banknotes in Rs.1,000, Rs.5,000 and Rs.10,000 were reintroduced in the year 1954, and these banknotes were again demonetised in January 1978.”
  • Zimbabwe is another example, which went through hyper-inflation in 2008 following which its currency lost value. In
  • June 2015, the Reserve Bank of Zimbabwe said the country had “adopted the multiple currency system or dollarisation in 2009 and it is therefore necessary to demonetise the Zimbabwe $ unit to replace it with the multiple currency system.”
  • In Zimbabwe’s case, demonetisation was critical for policy consistency and for enhancing consumer and business confidence, its central bank had said.
  • In Singapore, though Japanese “Banana” notes had been in circulation during the Japanese occupation, after the Japanese surrendered, the note was demonetised in 1945, the ‘Singapore Mint’ said.
  • In Fiji, its Reserve Bank said, “demonetisation of the pounds and shillings was necessary as Fiji transitioned to the new decimal currency structure from January 13, 1969.”
  • It added, “Due to limited quantities remaining in circulation, these notes and coins now have collectors’.”
  • The central bank of the Philippines, decided to demonetise the New Design Series banknotes issued on 12 June 1985, to “align with the practice of other central banks around the world which change the design of their currency that has been in circulation for over 10 years.”

:: IMPORTANT DETAILED NEWS ::

INDIA, UK SIGNED TWO PACTS INCLUDING COOPERATION IN THE FIELD OF INTELLECTUAL PROPERTY

India and the United Kingdom inked two pacts to boost cordial relations between the two nations. The pacts were inked during the visit of Theresa May, the Prime Minister of the United Kingdom to India.

PM Theresa May was on a three Day visit to India (6 November to 8 November 2016).

List of MOUs exchanged includes

• MoU on Ease of Doing Business: The MoU intends to make expertise from different departments of the UK Government which have led the ease of doing business drive in the UK available to the relevant departments and agencies of the Government of India. It includes exchange between the officials and sharing of best practices and technical assistance for effective implementation of the initiatives of GOI to improve its ranking in the ease of doing business.

Important areas of cooperation include support to businesses and startups, tax administration, regulatory regimes, competition economics, etc.

• MoU for cooperation in the field of intellectual property: The MoU envisages establishing a mechanism for furthering cooperation between the Intellectual Property Offices of India and the UK in the field of IP and related information technology services.

It will include exchange of best practices, experience and knowledge of IP awareness among the public, businesses, industry, R&D organizations and educational institutions, as well as on processes for disposal of applications for patents, trademarks, industrial designs and geographical indications.

This MoU was signed between the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, India and the Intellectual Property Office of the United Kingdom (UK IPO).

Besides, the annual ministerial meeting of India UK Joint Economic and Trade Committee (JETCO) was held in New Delhi. During the 11th India-UK JETCO, the two sides reviewed the progress held in the two existing Joint Working Groups, that is, Smart Cities and Technological Collaboration, Advanced Manufacturing & Engineering under the aegis of JETCO.

The two sides also decided to create a new Joint Working Group (JWG) to discuss and resolve trade related issues. The Group will not only focus on goods trade, but also services, including through greater mobility for skilled professionals.

HADI ABDULLAH WINS 2016 RSF-TV5 MONDE PRESS FREEDOM PRIZE

Syrian freelance journalist Hadi Abdullah was awarded with Reporters without Borders (RSF)-TV5 Monde prize. Abdullah, 29, was awarded in the journalist category for reporting from some of the most perilous zones in his country's five-year-old war.

The award was presented in Strasbourg on the sidelines of the World Forum for Democracy, a meeting organised by the Council of Europe.

In a statement, RSF said that Abdullah has unhesitatingly ventured into danger zones, where Western journalists are no longer willing to go, to film and interview civilians.

RSF-TV5 Monde prize, one of the world's top press awards, is awarded by Reporters without Borders (RSF) and this is the second year that the honour has gone to a Syrian. In 2015, the award went to Syrian journalist Zaina Erhaim for her reports from the besieged city of Aleppo.

Apart from the, the press watchdog also announced awards in two different categories and they are

• Media category - 64Tianwang, it is a Chinese news website

• Citizen journalist category - Lu Yuyu and his partner, Li Tingyu, both are Chinese citizen journalists

RSF ranked India at 133 out of 180 countries in the 2016 World Press Freedom Index that was released on 20 April 2016. China and Syria are ranked at 176th and 177th on its assessment of 180 countries for press freedom.

RATNESH KUMAR APPOINTED MD AND CEO OF BOB CAPITAL MARKETS

Bank of Baroda (BoB) appointed Ratnesh Kumar as Managing Director (MD) and Chief Executive Officer (CEO) of its wholly-owned investment banking subsidiary, BoB Capital Markets Ltd.

The public sector bank stated that Kumar started his career in the Indian capital markets and financial services sector in 1993.

About Ratnesh Kumar

Ratnesh Kumar holds a Masters degree in Management from FMS, University of Delhi.

He obtained an MSc (Hons) in Physics & BE (Hons) in Electrical and Electronics Engineering from BITS, Pilani.

During the past 23 years, he has had diverse experience and has held key leadership roles, the last being Managing Director, Head-Cash Equities India & CEO of Standard Chartered Securities India, wherein the main business segments included institutional brokerage, equity capital markets, equity research and retail broking.

About BoB Capital Markets

BOB Capital Markets Ltd. is a wholly owned subsidiary of Bank of Baroda.

It is one of the Investment Banking Companies in India and is a SEBI registered Category I Investment Banker.

It offers the entire spectrum of financial services that includes Initial Public Offerings, Private Placement of Debt, Corporate Restructuring, Business Valuation, Mergers & Acquisitions, Project Appraisal and Loan Syndication.

It also undertakes advisory services on securitisation and structuring of debts.

PRESIDENT PRANAB MUKHERJEE PRESENTS DR. APJ ABDUL KALAM IGNITE AWARDS

President Pranab Mukherjee presented the Dr. APJ Abdul Kalam IGNITE Awards to the winning children of IGNITE competition at Rashtrapati Bhavan. IGNITE competition was organized by the National Innovation Foundation (NIF).

This year, a total of 31 students have been awarded for their ideas/innovations. Overall, 55,089 submissions of students from 458 districts of all the states & Union Territories of India were received during the IGNITE 16 competition, which ran from 1 September 2015 to 31 August 2016.

Dr APJ Abdul Kalam IGNITE Award is an effort to focus primarily on the creativity of the children and promote inclusive and compassionate thinking among them.

List of winners

S. No.

Idea/innovation

Name

Class

District

State/UT

School Name

1

Emergency light in two wheelers

Gayatri Somasekhar

4

Ernakulum

Kerala

Naval Children School,
Pranav Kochi

Pranav Somasekhar

10

2

Tiffin box that reminds to wash hands

Sheeren Sheikh

5

Delhi

Delhi

SDMC Primary School, Nizamuddin West

3

Monitoring device to stop mishap in a vehicle

Arijita B Patra

6

Angul

Odisha

Baji Rout Chhatrabas Ashram School, Angul

4

EVM messaging voting data from booth to control room

Roshan Sodi

6

Sukma

Chhattisgarh

Balak Avasiya Vidyalaya Pota Kebin Burdi, Sukma

5

Air cooler which throws air in all directions

Muskan Javalkar

7

Betul

Madhya Pradesh

Govt. Gyanodaya School, Hoshangabad

6

Septic tank pressure record scale

Indu Manikpuri

7

Dantewada

Chhattisgarh

Astha Vidya Mandir English Medium School, Jawanga Geedam, Dantewada

7

Manual hand lever based tapioca plant uprooter

S. Vanchinathan

7

Tirupur

Tamil Nadu

Swami Vivekanand Matric Hr. Secondary School, Kangayam, Tirupur

8

Device that indicates state of cleanliness of vessel

M. Devi

8

East Godavar

Andhra Pradesh

G.G. High School, Gopal Puram, East Godavari

9

Pedal operated vegetable cutting machine

Dhanurjaya Dehury

8

Bhubaneswar

Odisha

Kalinga Institute of Social Science, Bhubaneshwar

10

Machine to dig out sweet potato

Sebati Kutruka

8

Rayagada

Odisha

Kalinga Institute of Social Science, Bhubaneshwar

11

Buzzer for protecting turtle's egg at beaches

Sumit Biswas

10

North Andaman

Andaman & Nicobar Island

Govt. Sr. Secondary School, Diglipur, North Andaman

12

Alarm system in non-transparent doors

Sayan Sain

9

South 24 Parganas

West Bengal

Pailan World School, Kolkata

13

Secured door closing in cars

Dev Desai

9

Nashik

Maharashtra

Wisdom High International School, Nashik

Munni Kumari

7

Patna

Bihar

Govt. Secondary School, Dhibda, Phulwari Sharif, Patna

14

Eco-kite

Manodnya Shripad Vaidya

9

Nagpur

Maharashtra

Sandipani High School, Hajaripahad, Nagpur

15

Innovative utility stick for Parkinson’s patient

Parth Bansal

9

Kanpur Dehat

Uttar Pradesh

Apeejay School, Noida, Uttar Pradesh

16

Low cost homemade cockroach killing gel

Jahnvi Rupani

9

Rajkot

Gujarat

Gyan Ganga Education Society, Rajkot

17

System in water supply line which stops flow of water if any tap remained open or got damaged

Adyasha Das

11

Bhubaneswar

Odisha

DM School, Bhubaneswar

Sagar Kumar

7

Patna

Bihar

Shri Chandra Middle School, Patna

18

Medicine alarm on T.V for old aged

Himanshu Rateria

11

Janjgir-Champa

Chhattisgarh

KIIT International
School, Bhubaneswar

19

Message for rider of vehicle who unnecessarily waste fuel

Priyanka Panda

11

Bhubaneswar

Odisha

DAV Chandrasekharpur, Bhubaneswar

20

Shoes with drillers / hole diggers for farmers

Subhra Suchismita Patel

11

Angul

Odisha

KIIT International School, Bhubaneswar

21

Wheel chair that helps in entering the car without any strain and modified walker

Joseph John

11

Kottayam

Kerala

Saint Berchmans Higher Secondary School, Changanassery, Kottayam

22

Namda rolling machine

Zufa Iqbal

11

Srinagar

Jammu and Kashmir

Presentation Convent Higher Sec. School, Raj Bagh, Srinagar

23

Device to adjust right intensity of light for study

Gulshan Kumar

12

Kushinagar

Uttar Pradesh

Hanuman Intermediate College, Padrauna, Kushinagar

24

Auto blanket covering mechanism for old aged, physically challenged and patients

Govind K Sharma

12

Gandhinagar

Gujarat

Gramshala Grambharati, Amrapur, Gandhinagar

25

Paan delivery and processing machine

Lahar Jyoti Das

12

Kamrup

Assam

Transition Academy, Kulhati, Kamrup

26

Secured currency notes

Madhur Gupta

12

Chandigarh

Chandigarh

Sri Guru Gobind Singh Senior Secondary School, Chandigarh

27

A game for attracting tourists

Bilash Dutta

12

Cachar

Assam

Saint Capitanio School, Silchar

28

Device for data management to enhance cellular efficiency in rural areas

Sayan Chaudhary

12

Delhi

Delhi

Delhi Public School, Rohini, Delhi

NIF will file patents in all applicable cases in the name of the students and will also engage designers/fabricators to develop prototypes of the students’ ideas.

Dr. APJ Abdul Kalam IGNITE competition

• It is a national competition of original technological ideas and innovations by children up to class 12 or those out of school up to the age of 17 years.

• It is organized by National Innovation Foundation (NIF) every year to promote creativity and originality among children.

• The awards of IGNITE competition are announced every year on 15 October, Dr APJ Abdul Kalam’s birthday, which is celebrated as the Children’s Creativity and Innovation Day by NIF.

• Starting in 2008, in the last eight years, 173 awards have been given to 246 children.

National Innovation Foundation (NIF)

NIF is an autonomous body of the Department of Science and Technology, Government of India. It has been actively engaged in promoting creativity and innovation in society with active support of Honey Bee Network.

NIF has taken major initiatives to serve the knowledge-rich but economically poor people of the country. It is committed to making India innovative by documenting, adding value, protecting the intellectual property rights (IPR) of the contemporary unaided technological innovators as well as of outstanding traditional knowledge-holders and disseminating their innovations on commercial and non-commercial basis.

INDIA AND UK RELEASED JOINT STATEMENT

India and the United Kingdom released a Joint Statement on 7 November 2015 to strengthen their strategic partnership. The joint statement was released after meeting of Prime Minister Narendra Modi and UK Prime Minister Theresa May in Delhi.

PM Theresa May was on a three-day visit to India from 6 November to 8 November 2016 at the invitation of the PM Modi.

This was May’s first bilateral visit outside Europe after taking over as the Prime Minister of the UK. The meet highlighted the need for both the sides to work together in building a forward-looking global partnership to promote peace, security and prosperity of the two countries.

Details of the Joint Statement

India-UK Trade

• Both countries called for greater participation of their respective investment communities to stimulate Indian & UK economic growth.

• Both sides agreed to build the closest possible commercial and economic relationship when the UK leaves the European Union.

• The newly established Joint Working Group, reporting to JETCO, will help drive progress.

Financing India’s infrastructure growth

• The two nations agreed to speed up their partnership in financing investment in Indian infrastructure.

Smart Cities and Urban Development

• Both leaders agreed to build a more strategic urban partnership that brings together governments, businesses, investors and urban experts to construct smarter and more inclusive cities that drive shared prosperity, jobs and growth between the two countries.

• The two sides also welcomed new technical assistance for the redevelopment of Varanasi City Railway Station under the Varanasi Smart City Development Plan.

Start-up India

• Prime Minister Theresa May announced UK’s intention of investing over 160 million British Pounds across 75 start-up enterprises that would help create more jobs and deliver critical services across several states in India.

• May also announced an additional 20 million British Pounds for a Start-Up India Venture Capital Fund, which will support 30 enterprises and leverage additional 40 million British Pounds capital from other investors including UK venture capital funds.

Energy and Climate Change

• Both the sides welcomed the decision to hold the first India-UK Energy Summit in early 2017 and the fourth phase of UK-India Civil Nuclear Research Programme that will explore new technologies that contribute to enhancing nuclear safety, waste management and future civil nuclear energy systems.

• While appreciating Indian leadership on the International Solar Alliance to harness solar energy for meeting global energy demands and to address issue of climate change, Theresa May put forth UK’s intention to join the Alliance.

Global Partnership

• UK confirms to reform United Nations Security Council with India as its permanent member and also enhance India’s role within the United Nations system.

• While showing commitment towards working more closely within the G20, the two nations also expressed their keen interest in advancing nuclear disarmament and non-proliferation.

• Along with welcoming India’s entry into the Missile Technology Control Regime, UK also strongly advocates an early Indian membership of the Nuclear Suppliers Group (NSG).

Fighting terrorism

• Theresa May strongly condemned the September terrorist attack in Uri and offered condolences to the victims and their families.

• While agreeing that there should be zero-tolerance on terrorism, the two leaders also restated their call for Pakistan to bring to justice the perpetrators of the November 2008 terrorist attacks in Mumbai and 2016 Pathankot attack.

Defence

• The two leaders agreed to encourage and facilitate cooperation in defense manufacturing between UK and Indian companies under the ‘Make in India’ framework.

• The statement also confirmed continual of UK’s engagement with the Indian Ministry of Defense (MOD) and Indian defense companies to simplify control and support the transfer of technology to enable projects in areas of mutual interest.

Cyber cooperation

• The two nations showed commitment towards promoting a free, open, peaceful and secure cyberspace.

International Affairs

• The two leaders recognised India’s contribution in maintaining peace and stability in the region of South Asia.

• Noting that a secure and violence-free Afghanistan would contribute much to the prosperity of the region, the two leaders agreed to work together to help the Government of Afghanistan deliver its ambitious reform program.

• The two leaders also agreed to continue their engagement with Maldives to strengthen its democratic institutions and committed to work more closely with the Sri Lankan Government to accelerate its progress in line with UN Human Rights Council Resolution 30/1.

• The two Prime ministers also reaffirmed their support to the people and the Government of Iraq in their war against terrorism and welcomed the Iraqi-led operation to liberate Mosul and other cities from the control of the terrorist group, ISIS.

VISA Laws

• The two leaders agreed on the need to make visa regimes simpler and more efficient for students, businesses, professionals, diplomats and officials and other travelers, including facilitating short-term mobility of skilled personnel between the two countries.

• India will become the first visa country to be offered the Registered Traveller Scheme, offering business travelers expedited clearance at the UK border and the Union Government will become the first government in the world to be invited to nominate business executives to the Great Club, a bespoke visa and immigration service.

Education and Culture

• 2016 is the India-UK Year of Education, Research and Innovation. The two leaders welcomed the first 35 visiting faculties in India from the UK under the Ministry of Human Resource Development funded GIAN programme and 198 new GREAT scholarships for Indian students to study at 40 UK universities.

• Both leaders also welcomed the first batch of TCS sponsored UK interns, under the Generation UK-India programme.

• Theresa May also announced a new commitment of up to 12 million British Pounds to support India’s Skill India mission.

Science and Technology

The two leaders agreed that the exponential growth in science and technology programmes in India provide immense possibilities for further expanding bilateral collaboration.

• The leaders welcomed new initiatives on joint hydrological research programme and re-usage of waste water as well as innovative biotechnologies for cleaning and processing industrial waste, adding value to the Swachh Bharat programme.

• The leaders also welcomed the launch of India-UK Clean Energy R&D Centre with focus on solar energy storage and integration with joint investment of 10 million British Pounds and a collaborative R&D programme on energy efficient building materials. These initiatives would help reduce carbon footprint and contribute to Modi’s Smart cities programme.

Besides, India and UK also signed two agreements in the field of intellectual property rights and the ease of doing business.

VINOD RAI APPOINTED AS CHAIRMAN OF FUND TRUSTEE AND ADVISORY COMMISSION OF KERALA

Vinod Rai was appointed as the Chairman of Fund Trustee and Advisory Commission of Kerala.

He will be entrusted with the responsibility to ensure that the funds of the Kerala Infrastructure Investment Fund Board (KIIFB) are properly utilised and the interest of investors is protected.

Moreover, the board of the reconstituted KIIFB under Chairman Pinarayi Vijayan also decided to appoint Usha Thorat, former Deputy Governor of RBI and Prakash Bakshi, former Chairman of NABARD, as the other members of the FTAC.

The FTAC will have a two-year term and the members cannot be removed either by the government or the KIIFB. They will be removed from the FTAC if they are convicted for misbehaviour and corruption.

About Vinod Rai

• Rai is a former Comptroller and Auditor General of India.

• He is also a former IAS officer of the Kerala cadre.

• He had also served as the Principal Secretary, Finance, before going on deputation to the Union government.

• Later, he was associated with Kerala as he was tasked by the Supreme Court to audit properties of Sree Padmanabhaswami Temple in Thiruvananthapuram.

 

 

 

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Last Updated on Saturday, 10 December 2016 11:37
 

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