Current Affairs For IAS Exam - 09 September 2015

Current Affairs for IAS Exams – 09 September 2015

:: International ::

On Tibet anniversary, China amplifies Marxist pitch

China on Tuesday celebrated the 50th anniversary of the formation of the Tibet Autonomous Republic (TAR) by sending a powerful visual message of unity, along with an advocacy of fusing religious and socialist values.
In the backdrop of the imposing Potala palace — once home of the Dalai Lama — thousands gathered on Tuesday morning to listen to Yu Zhengsheng, a top Chinese official who had flown in from Beijing.
A spectacular parade that followed, including soldiers in full uniformed regalia, goose-stepping marchers and flag-waving schoolchildren, reinforced the message of Tibet’s role, as a frontier state, in safeguarding China’s security.
Among them was the rejection of the 14th Dalai Lama’s role in shaping modern Tibet.
President Xi had pointed out that stability in Tibet would resonate in a much larger territorial swathe, as ethnic Tibetans and other ethnic minorities were residing in strength in neighbouring provinces, such as Sichuan and Yunnan.
Though China has been focusing on a cultural renaissance based on the revival of Buddhism, Confucianism and Taoism, President Xi had made it plain that Marxist values should be promoted in shaping people’s views on ethnicity, religion and culture.

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:: Business ::

Gold Monetization scheme,Get Cabinet approval

The government on Wednesday announced the launch of sovereign gold bonds and a separate gold monetization scheme in a bid to lure away Indians from buying physical gold.
Both the gold schemes announced today were part of the annual Budget proposal.

Here are 10 things to know about the two gold schemes:

1) The sovereign gold bond will enable investors to buy gold certificates from the government, which can later be encashed for money or physical gold.
2) Gold Bonds will be issued with a rate of interest to be decided by the government. Interest will be calculated on the value of gold deposited at the time of investment.
3) Gold bonds will be issued in denominations of 5, 10, 50, 100 grams of gold. The cap per person per year has been set at 500 grams, the government said.
4) Duration of such gold bonds will be for minimum of 5 to 7 years to protect investors from medium term volatility in gold prices, the government said.
5) Gold bonds are expected to reduce the demand for physical gold bars by shifting a part of estimated 300 tons per annum for investment into gold bonds.
6) The gold monetization scheme involves mobilization of tonnes of the yellow metal stored in households and temples. Ornaments will not be accepted under gold monetization scheme, Finance Minister Arun Jaitley said.
7) The gold monetization scheme that will enable depositors to earn interest on their on their gold accounts.
8) The gold monetization scheme will cut down on imports, thus reducing foreign exchange outflows. According to estimates, India paid $34.32 billion to import around 930 tonnes of gold in the year ending March 2015.
9) Gold monetization scheme, in long term, will reduce country's reliance on the import of gold & put it to productive use, the government said.
10) Though stocks of gold in India are estimated to be over 20,000 tonnes, most of this gold is neither traded, nor monetized. Gold collected through the scheme will be made available to jewelers for manufacturing of new jewellery and other items.

:: Miscellaneous ::

World’s oldest fossil sea turtle discovered

The world’s oldest fossilised turtle, dating back at least 120 million years, has been discovered
A recent study in the science journal Paleo Bios announces the discovery of a set of fossilized remains that paleontologists say come from the absolute oldest sea turtle on record.
A team of researchers at the Senckenberg Research Institute in Frankfurt examined the completely preserved skeleton of a 120-million-year-old reptile, making it 25 million years older than the previously known oldest specimen.
It was during the Cretaceous period that they diversified into land and sea dwellers. Fossil proof from this time interval could be very sparse, nevertheless, and the precise time of the cut up is troublesome to confirm.
The skeleton of the fossilized sea turtle measures virtually 2 meters.
By the researchers. The fossilised turtle shells and bones are found in two major sites near the community of villa de levya in Columbia.

:: Sports ::

Novak Djokovic reaches US Open semis for 9th straight year

Novak Djokovic's U.S. Open quarterfinal was suddenly tied at a set apiece, and he tore off his shirt as he headed to the sideline. He sat, halfheartedly tried to smash his racket, then began screaming.
Hardly the first time, nor likely to be the last, that Djokovic has let out a little emotion during a match. Whatever gets you through the day, right?
Gathering himself after getting pushed around a bit by an opponent with an unconventional style, Djokovic wound up reaching the semifinals at Flushing Meadows for the ninth consecutive year with a 6-1, 3-6, 6-3, 7-6 (2) victory over 18th-seeded Feliciano Lopez that finished a little after 1 a.m. Wednesday.