India has decided not to join the Regional Comprehensive
Economic Partnership (RCEP) deal as negotiations failed to address New
Delhi's outstanding issues and concerns.
Prime Minister NarendraModi made the announcement during his
speech at the RCEP Summit in Bangkok yesterday, which was attended by several
world leaders. Mr Modi said, the present form of the agreement does not fully
reflect the basic spirit and the agreed guiding principles.
He said the agreement also did not satisfactorily address
India's outstanding issues and concerns, hence it was not possible for New Delhi
to sign it. The Prime Minister said India stands for greater regional
integration as well as for more free trade and adherence to a rule-based
Later, speaking at a press conference in Bangkok, Secretary
(East) in the Ministry of External Affairs, Vijay Thakur Singh said India's core
issues would not be compromised and the latest decision has been taken in the
interest of the nation.
Ms Thakur said the RCEP agreement with China and ASEAN countries
does not reflect its original intent, and the outcome is not balanced.
Leaders have hailed the Central government's decision of not
joining the RCEP. In a tweet, Home Minister AmitSha said India's decision not to
sign RCEP agreement reflects Prime Minister NarendraModi's strong leadership and
unflinching resolve to protect the national interest in all circumstances.
Principal secretary to review measures taken to curb air
The Principal Secretary to Prime Minister Dr. P K Mishra
today reviewed, the measures taken by the States of Punjab, Haryana and
Delhi to tackle air pollution.
Dr. Mishra sought to know the details of additional measures
taken to check fresh cases of fire and stubble burning in these States during
the last 24 hours.
The Chief Secretary, Punjab stated that he is personally
monitoring the situation with Deputy Commissioners of various districts where
hotspots have been identified.
He added that FIRs are also being registered for violation and
taking strict action by enforcing the necessary fines for incidents of the
The Chief Secretary, Haryana informed the Chief Minister has
directed all concerned to reduce the cases of stubble burning in the State at
RBI issues compensation guidelines for foreign, private banks
The Reserve Bank of India has issued compensation guidelines
for whole-time directors and chief executives of foreign, private, small
finance, payments banks and local area banks, mandating the cash component
of variable pay at 67 per cent.
The RBI said if the variable pay is up to 200 per cent of the
fixed pay, at least 50 percent of it should be in non-cash. If the variable pay
is above 200 per cent, 67 per cent of it should be paid via non-cash
In a notification, the RBI said that banks should continue to
formulate and adopt a comprehensive compensation policy covering all their
employees and conduct annual reviews. It added that the new guidelines will be
effective from April next year.
The RBI also said that it wants banks to claw-back the
non-variable pay components if there is divergence in provisioning for NPAs or
asset classification exceeds the prescribed threshold for public disclosure.
Foreign banks operating under the branch mode will have to
continue to submit a declaration to RBI annually from their head offices
confirming that the compensation structure of those working in the country are
in conformity with principles and standards set by the Financial Stability
South Asia to become centre of global growth,claims IMF
A latest research by the International Monetary Fund has
said that South Asia, led by India, is moving towards becoming centre of
global growth and could contribute about one-third of the world's growth by
Notably, under the IMF's geographical division of the world,
South Asia does not include Afghanistan and Pakistan. For IMF, South Asia
includes India, Bangladesh, Nepal, Sri Lanka, Bhutan and Maldives.
The IMF paper titled 'Is South Asia Ready for take Off? A
sustainable and inclusive growth agenda,' will be released in New Delhi
The report said that under a substantial liberalisation
scenario, supported by stepped-up efforts to improve infrastructure and
successfully harness South Asia's young and large workforce, the region could
contribute about one-third of global growth by 2040.
Anne-Marie Gulde-Wolf, Deputy Director, Asia and Pacific
Department, IMF, noted that based on demographic trends, more than 150 million
people in the region are expected to enter the labour market by 2030.
Prime Minister NarendraModi is now attending the Regional Comprehensive
Economic Partnership (RCEP) summit in Bangkok.
Earlier, Mr Modi speaking at the 14th East Asia Summit, outlined global
challenges facing the world today. He also highlighted the need for working
together to find out common solutions.
East Asia Summit is a leaders-led platform, where discussions are held
on various developments in the region. The agenda for this edition of the
summit was to review the future direction of East Asia Summit co-operation
and exchange views on regional and international issues.
Mr Modi also met Prime Minister of Vitenman on the sidelines of the
summit. Minister Narendra also met his Japanese counterpart Shinzo Abe on
the sidelines of the ASEAN summit.
Both the leaders reviewed the evolving security scenario in the
Indo-Pacific and agreed to further bolster bilateral cooperation in third
countries for peace, prosperity and development in the region.
In a tweet, External Affairs Ministry Spokesperson Raveesh Kumar wrote,
Prime minister said that he eagerly looked forward to welcoming the Japanese
prime minister in India next month for the annual India-Japan summit.
U.S formally notifies withdrawal from Paris climate deal
The US has formally notified the United Nations that it was
withdrawing from the Paris climate accord. Secretary of State Mike Pompeo
announced the withdrawal, saying the agreement had imposed what he called an
unfair economic burden on the US.
The notification begins a one-year process of exiting the global
climate change accord, culminating the day after the 2020 US election.
The agreement brought together 188 nations to combat climate
change. It committed them to keeping rising global temperatures below 2 Celsius
above pre-industrial levels and attempting to limit them even more, to a 1.5
Celsius rise. The US contributes about 15 per cent of global emissions of
Last year, announcing his decision to withdraw from the Paris
accord, President Trump said he would exit or re-negotiate any deal which fails
to serve America's interests.
::SCIENCE & TECHNOLOGY::
Red Atlas action plan map unveiled for flood mitigation
Vice-President M Venkaiah Naidu unveiled the ‘Red Atlas
Action Plan Map’ atlas and the ‘Coastal Flood Warning System App (CFLOWS-Chennai)’
for flood mitigation in Chennai, Tamil Nadu.
Both the atlas and the CFLOWS-Chennai are intended as decision
support systems covering aspects, including preparedness and prevention. Such
initiatives to effectively tackle urban flooding are likely to be replicated in
other Indian cities including Mumbai, Maharashtra.
The atlas is aimed at flood mitigation, preparedness, operations
and management aspects. The manual besides showcasing the probable scenarios for
different rainfall periods also provides information on corporation wards that
are likely to be affected due to flooding, and the areas that may need
evacuation in Chennai by taking into account all historical datasets.
The over 200-page atlas was prepared by the India Meteorological
Department (IMD), National Centre for Coastal Research (NCCR) and National
Centre for Medium Range Weather Forecasting (NCMRWF) in association with TN
State Disaster Management Authority (SDMA) and Greater Chennai Corporation.
Also, the office of the Principal Scientific Advisor (PSA) to
Centre government, IIT-Bombay, IIT Madras and Institute of Remote Sensing of
Anna University participated from the academia.
Rafael Nadal secures No:1 spot in ATP rankings
Rafael Nadal is back to the world No. 1 for the eighth time
in his career in the ATP rankings released today. The Spaniard goes up one
place to overtake Novak Djokovic even though the Serb sealed his fifth Paris
Masters title on Sunday with a 6-3, 6-4 victory over Canadian Denis
Nadal, whose last stint at the top ended a year ago on November
4, 2018, withdrew from his semifinal against Shapovalov in Paris. Djokovic slips
down the rankings because he loses the points that he won a year ago in London
when Nadal was absent.