Current Affairs for IAS Exams - 15 October 2019

Current Affairs for IAS Exams - 15 October 2019

::NATIONAL::

VP claims Jammu & Kashmir reorganisation to promote inclusive growth and curb cross border terrorism

• The Vice President, Shri M Venkaiah Naidu today asserted that the reorganization of Jammu and Kashmir into two Union Territories will promote inclusive development and reduce the negative impact of cross-border terrorism.

• Hitting out at the negative propaganda being carried out on Jammu and Kashmir, he urged the Indian diaspora to effectively counter the disinformation by presenting the correct picture. “It is high time to take up a campaign to stop this disinformation”, the Vice President added.

• Shri Naidu said the recent decision to reorganize Jammu and Kashmir was intended to extend all the laws and benefits of developmental programmes to this region and ensure inclusive and all-round development of the State.

• While pointing out that both the houses of the Parliament approved the move with an overwhelming majority, he said that some sections of the media and vested interests have been grossly distorting the truth.

• Asserting that Jammu and Kashmir was an integral part of India, the Vice President said that the people of the state have been electing leaders in free and fair elections since1952.

• However, many of the programs were not reaching the citizens of the state because of special provisions of Article 370. “Government has taken a bold decision by following the democratic process of obtaining Parliamentary approval”, he added.

Nation pays homage to APJ Abdul Kalam on his birth anniversary

• The nation pays homage to former President Dr A P J Abdul Kalam on his birth anniversary today. Dr Kalam is also known as the Missile Man of India. Vice President M Venkaiah Naidu and Prime Minister NarendraModi have paid tribute to Dr Kalam.

• In his message, Vice President said, Dr Kalam was a great scholar, teacher and earned love and respect from everywhere. He said, Dr Kalam made innumerable contributions to Indian defence.

• Vice President added that Dr Kalam's commitment, patriotism and vision to make India a strong nation will continue to inspire people.

• Prime Minister said, India salutes Dr Kalam on his birth anniversary. He said, Dr Kalam dreamed of a strong and capable India of the 21st century and made his special contribution towards it. Mr Modi said, he continues to inspire the countrymen.

::ECONOMY::

Finance ministry asks big firms owning MSME’s to clear dues

• Finance minister NirmalaSitharaman has said banks have sufficient liquidity, and efforts are being made to ensure that large firms clear their dues to the micro, small and medium enterprises (MSMEs).

• The corporate affairs ministry will approach the large companies that owe MSMEs close to Rs 40,000 crore. The government will also look at bankers for suggestions on allowing non-banking finance companies (NBFC) with good pooled assets but poor institutional rating to become eligible under the Centre’s one-time partial credit guarantee scheme.

• Sitharaman said she is keeping a close watch on the developments at Punjab & Maharashtra Co-operative Bank and spoke to the Reserve Bank of India governor on Monday.

• PMC Bank was put under “directions” by the RBI last mmonth because of its weak financial health. “The government has been on its toes in terms of bringing the assets of these promoters (indulged in fraud) of the bank process will not suffer for want of enough assets which can eventually help paying back customers.

• Sitharaman said banks have suggested those NBFCs having investment-grade ratings but with AA-rated assets be included in the partial credit guarantee scheme to provide them liquidity.

Kaveri seeds looking forward to adopt GMS technology for hybrid cotton seeds

• India's largest listed hybrid seeds firm, Kaveri Seeds (KSL) is looking to adopt genetic male sterility (GMS) technology for hybrid cotton seed production, aimed at reducing the pressure on profit margins with the state governments attempting to regulate hybrid cotton seed prices.

• The traditional labour-intensive cotton seed production process currently involves removal of pollens to prevent self- pollination and adopting GMS technology helps identify female lines at the seedling state itself, said executive director C Mithun Chand. "GMS technology helps bring down labour costs by 10-12% and improve profit margins by 200-300 basis points."

• He said nearly a fourth of their hybrid cotton seeds production next year would be through GMS technology and entire hybrid cotton seeds production will shift to GMS technology over next 2-3 years.

• He was interacting with the journalists on the sidelines of inaugurating a modern biotechnology research and development (R&D) laboratory involving around Rs 20 crore on Monday.

• The second-largest Indian hybrid cotton seeds producer with nearly a fifth of market share now hopes to expedite launch of innovative hybrid seed varieties with the help of modern genomic tools like marker-assisted selection at its modern R&D lab.

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::INTERNATIONAL::

U.S to impose sanctions on Turkish officials

• Protesting Turkey's military offensive into northeast Syria, US President Donald Trump has announced that he will authorize sanctions against Turkish officials, raise steel tariffs and end negotiations on a 100 billion dollar trade deal.

• Turkey launched a cross-border assault on Kurdish fighters on Wednesday after the US decided to withdraw troops from Syria.

• In a statement, Trump said, this executive order will enable the US to impose powerful additional sanctions on those who may be involved in serious human rights abuses, obstructing a ceasefire, preventing displaced persons from returning home, forcibly repatriating refugees or threatening the peace, security or stability in Syria.

• He said, Turkey's military offensive is endangering civilians and threatening peace, security and stability in the region. Trump said, he is fully prepared to swiftly destroy Turkey's economy if Turkish leaders continue down this dangerous and destructive path.

• He said, the order will authorize a broad range of measures, including financial sanctions, the blocking of property, and barring entry into the US. He asserted that his administration will aggressively use economic sanctions to target those who enable, facilitate, and finance heinous acts in Syria.

India Netherlands expand bilateral ties

• President Ram NathKovind has said that economic partnership is a key pillar of India-Netherlands bilateral ties. Speaking at a banquet hosted at the RashtrapatiBhawan in the honour of Dutch King Willem-Alexander and Queen Maxima, yesterday, President said, the Netherlands is India’s 4th largest trading partner in the European Union and it is also among the leading investors in India.

• Mr Kovind said, Indian companies have made significant investment in Netherlands. He said that Dutch companies have a global name in the fields of agriculture, water management, port development, waste management and urban planning.

• President invited Dutch companies to partner India in its growth story. He also appreciated Netherlands’ support for Indias membership to the different Export Control Regimes and for its claim to a permanent seat in the UN Security Council.

• The President said that India and the Netherlands share common concerns with regard to contemporary challenges, particularly climate action, cyber security and terrorism.

• He said that terrorism is among the gravest threats affecting the world today and both the countries must come together to develop a strong global response to defeat and destroy this evil.

::SCIENCE & TECHNOLOGY::

Typhoon Hagibis strikes Japanese coast

• Torrential rain and tornado-like winds lashed large parts of Japan, as the country was hit by Typhoon Hagibis. The typhoon is being touted as the strongest storm the country faced in past 60 years since Kanogawa Typhoon (1958).

• More than 7 million people were urged to leave their homes amid severe flood and landslide warnings. Train services were halted, and over a thousand flights grounded. Amid the warnings Formula 1 had cancelled its Japanese Grand Prix as well as two Rugby World Cup games scheduled were also cancelled.

• After typhoon Hagibis made landfall on Japan’s main island of Honshu, it ripped through Japan including Tokyo’s metropolitan area, caused multiple rivers to overflow, triggered landslides and power blackouts in nearly, 3,76,000 houses, more than 100 people were injured across country.

• The typhoon has now weakened to an extra-tropical cyclone off Japan’s northeastern coast, and most train services as well as most of the flights of Japan Airlines Co. and All Nippon Airways Co. resumed operations after large-scale suspensions.

::SPORTS::

India wins ODI series against South Africa

• In Women's cricket, India won the 3rd and final ODI against South Africa by six runs at Vadodara today. Electing to bat first, India scored 146 runs in 45.5 overs. In reply, South Africa were all out for 140 in 48 overs.

• For India, HarmanpreetKaur scored a brilliant 38 runs and ShikhaPandey 35. EktaBisht scalped 3 South African wickets while D.B. Sharma and R.S. Gayakwad claimed two wickets each.

• The India women had already clinched the ODI series with two consecutive wins.

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