Current Affairs for IAS Exams - 03 July 2018

Current Affairs for IAS Exams - 03 July 2018

::NATIONAL::

Cauvery authority directs Karnataka to release water

  • The Cauvery Water Management Authority (CWMA), at its first meeting here on Monday, directed Karnataka to release water to Tamil Nadu and other States but did not discuss Karnataka’s decision to challenge the constitution of the CWMA in the Supreme Court.
  • The Karnataka government on Saturday decided to file an appeal in the Supreme Court against the setting up of the CWMA and the Cauvery Water Regulation Committee (CWRC) on the grounds that the move should have been discussed in Parliament.
  • The CWMA, which is yet to appoint full-time members, is scheduled to meet every 10 days during the monsoon months. Based on the storage of water in various reservoirs — Hemavathy, Harangi, Krishnarajasagar, Kabini, Mettur, Bhavanisagar, Amaravathy and Banasurasagar — it will recommend how much water ought to be released in keeping with the Supreme Court’s recent verdict in these blocks of 10 days.

CENSUS data to be stored electronically

  • The data collected during the 2021 Census will be stored electronically, the first time since the decennial exercise was conducted in 1951 in Independent India.
  • According to an amended rule notified by the Registrar-General of India (RGI) on June 19, “The schedules and other connected papers shall be disposed of totally or in part by the Director of Census Operations, after creating an electronic record of such documents.
  • The records, running into crores of pages, were occupying space in government office and it has now been decided that they will be stored in an electronic format.
  • Any tampering with the data will invite punishment under the Information Technology Act, 2000.

Pilgrims stranded in Nepal

  • At least 250 pilgrims from the State are stranded in a small town in Nepal after heavy rain caused landslips along the route of the KailashManasarovarYatra.
  • With heavy rain and landslips, they are stranded at Simikot Town, Nepal, which is close to the entry point to Tibet.
  • Only mini-airplanes can operate in the area owing to the weather conditions.
  • Among the routes that lead to KailashManasarovar is the Simikot-Hilsa path, which is considered the most scenic but the most risky in terms of inclement weather and road conditions.

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::ECONOMY::

NSE & NASDAQ bring in new settlement technology

  • The National Stock Exchange (NSE) and Nasdaq have signed an agreement wherein the global bourse will deliver a customised real-time clearing, risk management and settlement technology to the NSE.
  • Further, the exchanges also signed a memorandum of understanding (MoU) to explore business opportunities across listings, corporate and market services and data and innovations in products, processes and technology.
  • The technology would provide a state-of-the-art architecture utilising the Nasdaq Financial Framework, which would enable all asset classes to be cleared and settled in one system.

Management of stressed assets

  • The Sunil Mehta Committee, set up to look into the faster resolution of stressed assets, has recommended the creation of an asset management company for the resolution of stressed loans worth more than Rs. 500 crore.
  • The committee had also laid out a plan to resolve SME loans within 90 days.
  • The committee had recommended the setting up of a “robust monitoring and review mechanism” to track resolution with clear escalation metrics for breached timelines.

::INTERNATIONAL::

Mexico eletcsnew president

  • Mexican voters delivered a tidal wave presidential election victory to leftist Andres Manuel Lopez Obrador, giving him a broad mandate to upend the political establishment and govern for the poor.
    Mr. Lopez Obrador, who campaigned on vows to transform Mexico and oust the “mafia of power” ruling the country, rode widespread voter anger and discontent with the governing Institutional Revolution Party, or PRI, of President Enrique Pena Nieto and had led opinion polls since the beginning of the campaign.

China developing powerful rocket

  • China is working on a super-powerful rocket that would be capable of delivering heavier payloads into low orbit than NASA, a leading Chinese space expert was quoted as saying on Monday.
  • By 2030, the Long March-9 rocket under development will be able to carry 140 tonnes into low-Earth orbit — where TV and earth observation satellites currently fly.
  • China’s Long March-9 would have a core stage measuring 10 metres in diameter and boast four powerful boosters, each with a diameter of five metres

::SPORTS::

Dravid inducted to ICC hall of fame

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