Current Affairs for IAS Exams – 27 June 2016

:: National ::

Sounding hopeful of its inclusion in the Nuclear Suppliers Group (NSG), India on Sunday acknowledged that the Seoul plenary of the elite club did not yield the “expected results”.
Confirming the report, an official source told the media that a “special plenary session of the NSG may be called at the year-end”.
However, the Ministry focussed on the reason for the failure in Seoul, saying India’s entry was scuttled by opposition from “one country”, meaning China.
It was the second time that India referred to opposition from one country which prevented it from becoming member of the NSG at the Seoul plenary.
MEA said India had the right credentials for becoming a NSG member as it had met the conditions of the non-proliferation treaty.
To the extent that the goalpost remains the implementation of the NPT, we believe we have met the criteria and have all credentials to be a NSG member.
Our non-proliferation credentials are very well known, our record speaks for itself.
As a step towards joining various technology regimes, India would join the Missile Technology Control Regime on Monday, he said.

An overwhelming 80 per cent of companies polled in India said they had been victims of fraud in 2015-16, up from 69 per cent in 2013-14, according to a survey report.
The Global Fraud Report 2015-16 by risk mitigation consultancy Kroll found that the perceived prevalence of fraud in India is the third-highest among all countries and regions surveyed across six continents.
Only Colombia (83 per cent) and Sub-Saharan Africa (84 per cent) surpass India.
The report's authors observed that while the incidence of fraud was on the rise globally, a combination of a lack of preventive measures at Indian companies and a poor legal system had resulted in 92 per cent of the respondents saying they had witnessed an increase in exposure to fraud.
The India-centric data in the report shows that the highest incidence of fraud as reported by Indian companies is due to what the report terms ‘corruption and bribery’.

European lawmakers urged Britain to begin European Union (EU) exit proceedings at a summit on 28th, as Germany suggested the country should be given time to “reconsider” the impact of its vote.
Amid confusion and dissent over the timetable for any Brexit, Martin Schulz told that a period of limbo would “lead to even more insecurity and thus endanger jobs”.
However, German Chancellor Angela Merkel’s chief of staff insisted there was no rush to show Britain the door.
Echoing Mr. Schulz, the four biggest groups in the European Parliament have drawn up a draft resolution calling for Mr. Cameron to set the Brexit ball rolling.
Mr. Cameron said in the wake of the shock referendum outcome that he would resign his office by October and leave the Brexit negotiations to his successor.
To begin the withdrawal process, Britain must invoke Article 50 of the EU’s Lisbon treaty, which sets the clock ticking on two years of negotiations. \
However Ms. Merkel, who looked likely to take the lead in future talks, was more cautious, saying it was up to Britain to decide when to begin withdrawal proceedings, although they should not “drag on forever”.

In delaying its IPO by two years, Japanese messaging app company Line Corp. bought time to correct weak financial reporting controls, work on its business plan, bolster staffing.
Line's initial public offering in the next three weeks is set to raise about $1 billion, which given a global drought of such deals could make it the biggest tech listing this year.
The bulk of Line's revenue comes from games and sales of emojis and electronic stickers, including Brown the bear and Cony, his flatulent rabbit girlfriend.