Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 27 - NOVEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 27 - NOVEMBER - 2016
Saturday, 10 December 2016 05:43

 

 

 



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DAILY NEWS UPDATES

27- NOVEMBER - 2016

 

:: NATIONAL ::

FRICTION BETWEEN GOVT AND JUDICIARY CONTINUES

  • Chief Justice of India Thakur again pointed to the vacancies in High Courts across the country and then Union Law Minister Ravi Shankar Prasad took a pot-shot at the Supreme Court, saying that it had failed the country during the Emergency.
  • Prasad blames SC “Let us not forget, during Emergency, High Courts showed courage, but the Supreme Court failed us,” the Law Minister said at the Supreme Court of India Constitution Day Lecture Series.
  • He said the courts can pass directives, but governance must remain with those elected to govern and that legislation must remain a preserve of the legislature. Problems will resolve if all organs work within their domains.
  • Earlier, Attorney General Mukul Rohatgi said everyone, judiciary included, should recognise that thereis a lakshmanrekha that needs to be respected and they should be prepared for introspection.
  • Justice J.S. Khehar, who is next in line to be CJI as per seniority norm and author of the majority judgment in NJAC case, said the judiciary has always kept to the lakshmanrekha by upholding the Constitution.
  • Chief Justice Thakur add-ed that the significance of the Constitution is that it hasunited a vast continent into a single nation. If Parliament has the power to enact laws, it should do so within the limits defined under the Constitution, he said.

SECURITY FORCES IN KASHMIR SAW HIGHEST CASUALTIES AFTER 2007

  • The year 2016 is turning out to be the worst year for security forces in Kashmir in almost a decade, with data showing a dramatic deterioration in the situation from most perspectives.
  • According to statistics available and projected figures, the current year will record the highest number of casualties after 2007. Conversely, 2016 would also record the highest number of successful militant infiltrations from Pakistan after 2007.
  • Militancy has seen a steady decline since 2007 upto 2014. Kashmir also recorded a steady drop in militancy-related violence starting from 2008. The trend continued until 2014, when the situation suddenly began to worsen and violence flared up.
  • Until September 30, 2016, a total of63 security personnel had been killed in Kashmir while 181 were injured.
  • The death toll among security agencies could go up by another 20 by the end of the year, if the trend in violence continues. It would be the highest number of security personnel killed in a single year after 2007.

PM STRESSES ON SOFT SKILLS IN POLICING

  • It is time development of soft skills was made an integral part of the training modules for police personnel, PM Modi said.
  • Mr. Modi said aspects like human psychology and behavioural patterns of people should also be included in the police training curriculum.
  • Mr. Modi emphasised the importance of foot patrolling. Intelligence gathered by lower rung of policemen, especially from the level of con-stables, must not be ignored and should be made use of for prevention of crime, he said.
  • Police officials of higher echelons must ensure that leadership skills were inculcated among different levels of police personnel. Adopting new and collective training modules, a qualitative change must be brought about in the police force, he said.
  • Mr. Modi said the annual conference of police chiefs of States, the Union Territories and other crucial wings had transformed from theway it was conducted earlier.
  • The conference had now become a platform for sharing experiences and best policing practices. These useful inputs would help in shaping future policing policies.

TERROR OUTFIT’S LOGISTICS AND CAPABILITIES HIT BY DEMONETISATION

  • Almost three weeks after the demonetisation, militants in Kashmir are desperate for new banknotes to pay up their monthly bills, especially those of mobile phones and SIM cards, the police say.
  • The Lashkar-e- Taiba's attempt to loot the Malpora branch of J&K Bank in Budgam district of Rs. 14 lakh on November 21 is a case in point.
  • Of the Rs. 14 lakh looted, five LeT sympathisers who were all arrested — succeeded in getting the new notes for Rs. 3 lakh.
  • According to a police assessment, the militants active in the Valley spend a lot every month on cellphones and SIM cards. A militant commander or the head of a module keeps changing cell-phones and SIM cards.
  • On an average, Rs.10,000 is spent every month on gadgets andinternet. For 100 active militants, a group needs Rs. 10 lakh a month, the assessment reckons.
  • The other major expenses for militants are couriers, fuel charges and overground workers who ferry weaponsfrom the border areas to the mainland and help in their distribution.

:: INTERNATIONAL ::

FIDEL CASTRO, COMMUNIST REVOLUTIONARY, DIED AT THE AGE OF 90

  • Fidel Castro, the fiery apostle of revolution who brought the Cold War to the Western Hemisphere in 1959 and then defied the United States for nearly half a century as Cuba's maximum leader, bedevilling 11 U.S. Presidents, died on 26th.
  • In declining health for several years, Castro had orchestrated what he hoped would be the continuation of his Communist revolution, stepping aside in 2006 when he was felled by a serious ill-ness.
  • Raúl Castro, who had fought alongside Fidel from the earliest days of the insurrection and remained Minister of Defence and his brother's closest confidant, has ruled Cuba since then.
  • Fidel Castro had held onto power longer than any other living national leader, except Queen Elizabeth II. He became a towering international figure whose importance in the 20th century far exceeded what might have been expected from the head of state of a Caribbean island nation of 11 million people.

:: INDIA AND WORLD ::

QAMAR JAVED BAJWA WILL REPLACE RAHEEL SHARIF AS PAK ARMY CHIEF

  • Lt. Gen. Qamar Javed Bajwa, who has extensive experience of handling affairs in Pakistan-Occupied Kashmir and the northern areas, was appointed Pakistan's new army chief. He will succeed Gen. Raheel Sharif.
  • Lt. Gen. Bajwa will take charge of the world's sixth-largest army by troop numbers in a formal handover, when General Raheel formally retires. Gen. Raheel in January declared he would not seek ex-tension.
  • There were speculation that the PML-N government would give him extension at the eleventh hour citing reasons that he was needed by the country to lead war on terror.
  • The post of Army chief is the most powerful in Pakistan. Lt. Gen. Bajwa was serving as Inspector General of the Training and Evaluation be-fore being promoted to the top post.

:: BUSINESS AND ECONOMY ::

RBI WANTS TO ABSORB EXCESS LIQUIDITY IN BANKS DUE TO DEMONETISATION

  • RBI has taken steps to absorb excess liquidity in the banking system following demonetisation and said banks have to maintain 100 per cent CRR for the incremental deposits they received between September 16 and November 11.
  • The central bank clarified that the overall CRR requirement would stay at 4 per cent and the move would come into effect from the fortnight beginning November 26.
  • CRR is the proportion of deposits that banks have to keep as cash with the central bank. Banks do not earn any interest on CRR balances kept with the RBI.
  • The RBI withdrew the prevailing Rs.500 and Rs.1,000 notes on November 8 and banks started depositing and exchanging those notes from November 10.
  • The central bank said the incremental CRR requirement is intended to be a temporary measure and within its ‘liquidity management framework', and will be re-viewed on December 9 2016 or even earlier.
  • According to latest RBI data, deposits in banks swelled by Rs.3.24 lakh crore between September 16 and November 11. The last fortnight of September saw deposit mobilisation jump by Rs.3.5 lakh crore.
  • According to bankers, the move was likely to have only a marginal impact on bank's cost of funds since it was a temporary measure.

INDUSTRY CONCERNED ABOUT CENTRE KEEPING PENALTIES WITH THEMSELVES

  • The Centre has empowered itself to impose penalties on businesses that fail to pass on the benefits of the GST  to consumers in the form of lower prices, triggering concerns in industry about a re-turn to the era of socialist controls and harassment.
  • It will achieve this through an enabling provision introduced in the model Goods and Services Tax (GST) law, unveiled by the Centre on November, 26.
  • The revised drafts of the model GST law, as well as the Integrated GST Act and GST (Compensation to the States for loss of revenue) Act — which the government hopes to introduce and pass in this session of Parliament.
  • The new proposed GST bills, seeks to allay some industry concerns about its implementation by exempting free goods from GST unless they are being supplied to related parties, and treating supplies to special economic zones as ‘zero-rated.'
  • Securities will be exempted from GST as well as subsidies paid by the Centre and states, while credits will bepermitted against payments of excise and counter-veiling duties.
  • However, the new anti-profiteering measure is being seen as a potential dampener as it could lead to more discretion in the hands of the tax authorities.
  • A similar caveat has also been imposed on the credit of excise and countervailingduties paid on transition stock and such input credits would only be allowed if the benefit is passed on to the recipient.
  • While the proposal to treat ‘intangibles' as services in the earlier draft model GST law has been removed, several concerns of the services sector, particularly with respect to single centralisedregistration and clarity in terms of place of supply rules, have not been adequately addressed.=

AMITABH KANT SAYS DEMONETISATION WILL LOWER TAXES AND INTEREST RATES

  • Demonetisation will bring the Indian economy to a new equilibrium with low tax regime and lower interest rates, NITI Aayog CEO Amitabh Kant said.
  • “Bank deposits will go up and the move will address the structural weaknesses in the banking system. But the biggest achievement would be the end of a parallel economy,” he said.
  • Mr. Kant urged traders to facilitate cashless trans-actions through various modes such as debit and credit cards, bank transfers and e-wallets. “
  • Around 86 per cent trans-actions in India are through cash which is the highest globally. This leads to corruption and leakages. Demonetisation will take India towards a cashless economy.
  • CEO, Unique Identification Authority of India called traders to adopt Aadhaar-en-abled payment system to go cashless.
  • Aadhaar number and fingerprint will be sufficient for customers to make transactions. They will not be required to carry their debit or credit cards once their bank details are linked with the Aadhaar number.

INDUSTRY WANTS STIMULUS TO DEAL WITH NEGATIVE IMPACT DUE TO DEMONETISATION

  • The Centre's de-monetisation of high-value currency notes had triggered a sharp drop in demand with several sectors recording more than 30 per cent fall in sales since November 8, industry captains told Finance Minister.
  • Urging the government to remonetize the economy as soon as possible by bringing new Rs.500 notes into circulation, industry mooted a stimulus package to offset the negative impact on job creation and economic growth in the coming quarters.
  • Though demand would return over time, it depended on how quickly the new Rs.500 notes were brought into circulation.
  • Mr. Jaitley, in turn, told India Inc. that this was ‘the new normal' in the use of cash in the economy and that industry ought to get used to the idea of cheque and epayment transactions and push for new payment platforms.
  • This would, in one stroke, bring in 500 million people into the electronic payment mode, the minister is learnt to have said.
  • Paying wages to workers had become a challenge as many were mi-grants who didn't have bank accounts in places where they worked.

:: IMPORTANT DETAILED NEWS ::

YUDHVIR SINGH MALIK APPOINTED CHAIRMAN OF NHAI

Yudhvir Singh Malik was appointed the new Chairman of National Highways Authority of India (NHAI).

Malik, who worked as the Special Secretary with NITI Aayog, will replace Raghav Chandra.

After Malik’s appointed, Chandra has been shifted to National Commission for Schedule Tribes.

Who is Yudhvir Singh Malik?

Malik is an 83 batch Haryana cadre IAS officer.

He had joined NITI Aayog as its Additional Secretary in September 2015.

Before joining the NITI Aayog, he worked as the CEO of FSSAI from 20 October 2014 to 23 September 2015. It was during his tenure that Maggi noodle was banned.

About National Highways Authority of India

The National Highways Authority of India is an autonomous agency of the Government of India.

It was created through the promulgation of the National Highways Authority of India Act, 1988.

It looks after the management of a network of over 92851.05 km of National Highways in the country.

It is a nodal agency of the Ministry of Road Transport and Highways.

It has also signed a Memorandum of Understanding with the Indian Space Research Organisation (ISRO) for satellite mapping of highways.

Yogendra Narain was the first Chairman of NHAI.

UPGRADED JAGUAR DARIN III AIRCRAFT RECEIVES IOC

The upgraded Jaguar DARIN III twin-seat aircraft received the Initial Operation Clearance (IOC). IOC is a significant milestone for India’s military aviation sector.

This completion of IOC for DARIN III was announced by Deputy Chief of IAF, Air Marshal RKS Bhadauria. In recent past, he flew the aircraft at HAL airport in Bengaluru. Wg Cdr V Prabhakaran, the test Pilot of Aircraft & Systems Testing Establishment, was his co-pilot.

HAL CMD, T Suvarna Raju said the aircraft is now equipped with world-class avionics system.

DARIN III

• It was created by upgrading three DARIN I Standard Jaguars.

• Three DARIN I (Display Attack Ranging Inertial Navigation) jaguars were indigenously upgraded at Hindustan Aeronautics Limited’s (HAL) Mission and Combat System Research and Design Centre (MCSRDC).

• The up gradation included designing and development of the complete system like the electrical and mechanical design, software and hardware.

• The upgrade incorporates new state-of-the-art avionics architecture including

a. Open System Architecture Mission Computer (OSAMC)

b. Fire Control Radar

c. Solid State Digital Video Recording System (SSDVRS)

d. Autopilot with Alt Select & HNAV

e. Identification of Friend or Foe (IFF) and more

Organisations involved in upgrading Jaguar from DARIN-I aircraft to DARIN-III included Hindustan Aeronautics Limited (HAL), the trial team of the Aircraft Systems Testing Establishment (ASTE), certification agencies and others.

Comment: The up gradation was part of IAF’s modernisation plan to upgrade the four decades old Jaguar fighter planes.

Hindustan Aeronautics Limited (HAL)

HAL is India’s aerospace and defence company. It is based in Bangalore, Karnataka. It is governed under the management of the Indian Ministry of Defence. Being government-owned, the organisation is engaged in operations of the aerospace industry like manufacturing and assembly of aircraft, navigation and related communication equipment and airports operation.

It is the organisation that built the first military aircraft in South Asia. At present, it is involved in designing, fabricating and assembling of helicopters, aircraft, jet engines, and their spare parts.

NASA DEVELOPS SNACK BARS FOR BREAKFAST IN DEEP SPACE MISSIONS

NASA food scientists have developed snack bars, a healthier and convenient alternative to the regular breakfast that astronauts carry with them into space. 
The bars have been specifically created in order to reduce weight overboard the Orion Space Capsule- the first manned NASA flight- expected to launch post-2021. 
Key Details

• The bars have been tested for flavour, texture, and long-term use. They are being looked at as the best possible meal replacement.

• The main reason behind the move is limited space inside the Orion capsule. The bars will help reduce the amount of food supplies astronauts need for longer missions, limit storage space and help cut down on the waste created by them.

• Developed in a variety of flavours such as banana nut, ginger vanilla, orange cranberry and barbecue nut, the snack bars weigh around 700-800 calories. This will also help the astronauts maintain a healthy weight.

Reducing weight aboard the Orion Capsule is significant, as heavier the aircraft, more the consumption of fuel and energy. However, ultimately the usage of these bars will depend on the reaction of the crew members because it is only if they like the taste of these snack bars that they will prefer to consume it for breakfast for weeks at length.

About NASA’s First-Manned Orion Deep Space Mission

The NASA’s first-manned Orion Space capsule is expected to travel beyond the moon, to various distant space destinations.

Unlike crew members on the International Space Station, who get to choose from 200 items for their meals and have a resupply spacecraft to deliver whatever they need or to dispose of their trash, the Orion crew will be on their own. They will have to take everything they need for the whole mission and bring it all back with them.

The lighter the spacecraft, the more distance it will cover.

AIRTEL LAUNCHES INDIA’S FIRST PAYMENTS BANK IN RAJASTHAN

Airtel Payments Bank Limited launched India's first live Payments Bank in Rajasthan. The bank will provide an interest of 7.25% per annum on deposits.

The Bank rolled out a pilot of its banking services in Rajasthan, which is aimed at testing systems and processes ahead of a full-scale pan-Indian launch.

Key highlights of the service

Aadhaar based paperless e-KYC, with no extra documents, is required to open the account. Customer's Airtel mobile number would be his/her bank account number.

Customers in towns and villages across Rajasthan will be able to open bank accounts at Airtel retail outlets. These outlets will act as Airtel banking points and will offer a range of basic, convenient banking services.

Airtel Bank will commence the pilot project with banking points at 10000 Airtel retail outlets.

The customers will also be able to avail extra benefits like money transfer to any bank account in India, personal accidental insurance of Rs 1 lakh with every savings account, easy deposit and withdrawal facility across a wide network of Airtel retail outlets.

Airtel will have a network of over 100000 merchants across the state who will accept digital payments from Airtel Payments Bank. This will offer the customers the convenience of cashless purchase of goods/services using their bank accounts/ wallets.

Background

On 19 August 2015, the Reserve Bank of India (RBI) had granted in-principle approval to 11 payment banks applicants under the Guidelines for Licensing of Payments Banks. The guidelines were issued on 17 November 2014.

 

 

 

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Last Updated on Saturday, 10 December 2016 07:38