Current Affairs for IAS Exams - 18 August 2015

Current Affairs for IAS Exams – 18 August 2015

:: National ::

Aadhaar sweetens cash-for-grain initiatives,SC

The Supreme Court order last week on the use of Aadhaarcard only for the direct benefit transfer (DBT) and public distribution scheme (PDS) is set to provide a boost to these programmes, with the government planning to speed up implementation of cash transfers for foodgrain subsidynationwide.
Business Standard has learnt from senior government sources that the scheme to transfer subsidy in cash directly to beneficiaries' accounts, instead of selling them subsidised grain, will finally be launched in Pondicherry, Chandigarh, and Dadra & Nagar Haveli next month.
The scheme might be launched in multiple districts in each state, sources informed. This is clearly a step-up from the earlier plan to launch the scheme in one district per state on a pilot basis.
Last week, the Supreme Court had observed: "The Unique Identification Number or the Aadhaar card will not be used by respondents for any purpose other than PDS and, in particular, for the purpose of distribution of foodgrain and cooking fuel such as kerosene. The Aadhaar card may also be used for the purpose of LPG distribution."

:: International ::

Mahinda Rajapaksa lost battle in election

Former president Mahinda Rajapaksa on Tuesday morning conceded defeat in a bitterly fought Sri Lankan general election that could now put a question mark on his political future.
The Rajapaksa-led alliance lost to the United National Party (UNP), led by incumbent Prime Minister Ranil Wickremesinghe.
Rajapaksa’s second electoral defeat in about seven months -- the first shock defeat was in January in the presidential election -- will be a big setback to his political future.
Officially, the results are yet to be declared but according to the former president the available results were enough for him to accept the electoral defeat.

:: Business ::

BSE came up with New System

To check money laundering through stock markets, top stock exchange BSE has asked its members to report on a monthly basis details of the STRs (Suspicious Transaction Reports) submitted to the government's Financial Intelligence Unit (FIU).
Asking the members to ensure compliance at the earliest, the exchange said in a circular that the trading members are required to submit the data through a specific FIU-STR module of the online gateway BSE Electronic Filing System (BEFS).
The members have been asked to provide details of their registration with the FIU, as also the information about the principal officer and the designated directors for the PMLA (Prevention of Money Laundering Act) compliance.
BSE has also asked members to report the cumulative number of STRs filed with the FIU as on March 31, 2015. Thereafter, the members would need to report the number of STRs filed with FIU on a monthly basis.
The regulators and the financial intelligence agencies have enhanced their vigil in the recent months on entities trying to misuse the stock market platform for possible laundering of black money and to evade taxes.
Nearly 950 entities have already been barred by Sebi for such attempts, while further action is underway against them.

SBI launches mobile wallet app ‘Buddy’ (Register and Login to read Full News..)

:: India & world ::

Modi extracts $75 bn investment UAE

On the face of it, Prime Minister Narendra Modi has pulled off a feat which none of his predecessors could: extracting a pledge from a foreign country to invest $75 billion in India. This is the most concrete outcome of his two-day visit to the United Arab Emirates (16-17 August).
But on the flip side, one has to wait and watch to see the broad contours of the UAE’s proposed investment in India.
Moreover, one doesn’t know the status of similar investment pledges by Japan and China eleven months ago wherein the two Asian giants had announced to invest $35 billion and $20 billion respectively in India.
The India-UAE Joint Statement released on Monday evening touches upon the proposed $75 billion investment from UAW to India but does not give details or the timeline of the proposed investment.
The Joint Statement talks about as many as 31 areas of broad convergence between India and UAE, including the two sides’ decision to elevate their bilateral relationship to a comprehensive strategic partnership and cooperate in manufacture of defence equipment in India, veritably winning the UAE’s support for PM Modi’s Make in India initiative.
But undoubtedly the most important of all the 31 agreements between Modi and his UAE interlocutors as reflected in the Joint Statement is the point about $75 billion UAE investment in India. Here is the relevant paragraph: "Recognising that India is emerging as the new frontier of investment opportunities, especially with the new initiatives by the Government to facilitate trade and investment, encourage the investment institutions of UAE to raise their investments in India, including through the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of USD 75 billion to support investment in India's plans for rapid expansion of next generation infrastructure, especially in railways, ports, roads, airports and industrial corridors and parks."

:: Sports ::

Aditi Chauhan, 1st Indian woman footballer to play in UK

When Indian team goalkeeper Aditi Chauhan started her first game for West Ham Ladies in an FA Women’s Premier League game on Sunday, it may not have seemed like a big deal. The match ended in a 0-5 loss to Coventry United.
But Chauhan’s appearance was special: she became the first player from the national women’s team to play competitively in England. No small feat for a girl from a country where the idea of sport revolves around cricket and little else.
The 22-year-old from Delhi was signed pre-season by the third-tier London club for one year from Loughborough University in Leicestershire, where she recently completed an MSc in sports management.