Current Affairs for IAS Exams - 26 July 2018

Current Affairs for IAS Exams - 26 July 2018

::NATIONAL::

Government introduces measures to restrict import of gold in the country

  • India’s import of gold & other precious metal jewellery has increased by 22.31% and 727.51% respectively during the year 2017-18 over the year 2016.
  • Therefore has introduced the following measures to restrict the import of gold in the country:
  • Imposition of restriction on duty free gold imports from the South Korea as allowed under the existing India-Korea CEPA.
  • Imposition of self-use condition on Premiere Trading House and Star Trading House authorised to import precious metal (gold) directly from overseas bullion supplier.
  • Issuances of Trade Notice by DGFT for grant of licence for import of Gold to the refinery who holds a valid license from BIS.
  • Restriction imposed on export of gold jewellery and articles, including medallions and coins (excluding legal tenders) of purity above 22 carats.
  • The above measures have yielded the desired results with 31.25% reduction in the import of gold and 4.29% reduction in import of gold & other precious metal jewellery during the current year (Apr-May 2018) over the corresponding period of the previous year.

Centre issues guidelines to north eastern states before publishing of NRC

  • MHA has asked the Assam State Government and neighbouring States to ensure maintenance of law & order in the run up to and post-publication of Draft National Register of Citizens (NRC).
  • State Government of Assam has been advised to set up a State-level coordination committee under the chairmanship of Chief Secretary to ensure coordination among state agencies, NRC authorities and Central agencies. Round-the-clock Control Rooms at the State capital and district headquarters are to be activated to receive complaints and coordinate prompt response.
  • An intensive public awareness campaign has been launched to disseminate information regarding the NRC process, options available for individuals whose names do not figure in the Draft NRC, the procedure and timeline for filing claims and objections, etc so as to address the concerns of people left out of the Draft list.
  • Further, MHA has advised the State Government of Assam that no action should be initiated by the Administration or the police based on the Draft NRC.
  • There is no question of referring the persons whose names do not figure in the Draft NRC to the Foreigners’ Tribunal as people are entitled to file claims & objections and due opportunity has to be given to them before final publication.

Supreme court pulls up centre in disability rights issue

  • The Supreme Court on Wednesday pulled up the government for not complying with its directions last year to make public places disabled-friendly.
  • A Bench of Justices A.K. Sikri and Ashok Bhushan asked the Centre to file a fresh affidavit detailing the work done so far and fixing a deadline to complete the directions of the court issued in its judgment on December 15, 2017.
  • It said further disobedience ran the risk of the Chief Secretaries having to be present in the courtroom to explain their apathy.
  • On December 15 last year, the court gave 11 directions to make public transport, government offices and educational institutions disabled-friendly. It said it was imperative to provide proper and safe access to roads, transport, buildings and public places to the differently-abled.

::ECONOMY::

SEBI proposes use of Unified Payment Interface

  • The Securities and Exchange Board of India (SEBI) has proposed allowing investors to use the unified payments interface (UPI) while bidding for shares in an initial public offer (IPO) to reduce the public issue timeline from the current T+6 to T+3.
  • In a discussion paper released on Wednesday, the capital market regulator said that while ASBA — application supported by blocked amount — helped in reducing the timeline two years back, UPI could help in further bringing down the overall IPO timeline.
  • T+3 refers to a system wherein the equity shares would be listed on the bourses on the third day from the day the IPO closes for subscription. SEBI had reduced the IPO timeline from T+12 to T+6 in January 2016 by making ASBA mandatory for all investors.
  • SEBI, however, said since UPI had a cap of Rs. 2 lakh for money transfer, institutional investors and high net worth individuals would be allowed to bid using the existing ASBA process.

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::INTERNATIONAL::

Invest India and Business France Sign MoU to boost investment

  • Invest India and Business France have signed an MoU to promote investment facilitation and cooperation between startups of India and France.
  • The goal will be to facilitate direct foreign investment by providing practical investment information to enterprises and support the companies pursuing those opportunities which contribute positively to economic growth of the two countries.
  • The partnership will strengthen the existing business relations between India and France and provide a seamless facilitation channel for new businesses and innovations from India and France to grow in the French and Indian markets.
  • Invest India is the official Investment Promotion and Facilitation Agency of the Government of India, mandated to facilitate investments in the country. It is the first stop for potential global investors in the country.

India – Uganda relations

  • In the recent visit of prime minister of India to Uganda, both sides reaffirmed the commitment to reinforce and build upon the successes and achievements of existing bilateral cooperation.
  • Underscored the importance of trade and economic ties between the two countries. The two leaders noted the current level of bilateral trade and expressed the desire to enhance and diversify the trade basket including addressing the trade imbalance and to facilitate trade between the two countries.
  • Emphasized the need for enhanced private sector investment in a wide range of important sectors, underlining there was great potential for enhancement and expansion of mutual trade relations, Noted with appreciation utilization of the training and scholarship slots by Ugandans under India Technical and Economic Cooperation (ITEC), India Africa Forum Summit (IAFS), Indian Council for Cultural Relations (ICCR), etc.
  • The prime minister along with MoU’s gave line of redit as well to the African nation.

::SCIENCE & TECHNOLOGY::

ISRO signs MoU for mineral exploration

  • Indian Space Research Organisation (ISRO) has signed Memorandum of Understanding (MoU) with the following Departments/Organisations for using satellite data for mineral exploration in the country during the last three years and the current year:
  • With National Mineral Development Corporation (NMDC), Ministry of Steel, in February 2017, towards using Satellite data, for identifying potential areas for exploration of Iron and Diamond, in Madhya Pradesh. ISRO has also trained NMDC officials and established a remote sensing lab at NMDC, Hyderabad, for internalizing remote sensing technology within NMDC.
  • With Manganese Ore India Limited (MOIL), Ministry of Steel, in September 2017, for mineral exploration studies to identify prospective areas of Manganese mineralisation in parts of Madhya Pradesh, using satellite data.
  • Jointly with Department of Fertilizers (Ministry of Chemicals and Fertilizers), Geological Survey of India (GSI) and Atomic Minerals Directorate (AMD), in August 2017, for rock phosphate exploration in the Country.

Researchers find underground in Mars

  • Using a radar instrument on an orbiting spacecraft, scientists have spotted what they said on Wednesday appears to be a sizeable salt-laden lake under ice on the southern polar plain of Mars, a body of water they called a possible habitat for microbial life.
  • The reservoir they detected roughly 20 km in diameter, shaped like a rounded triangle and located about 1.5 km beneath the ice surface represents the first stable body of liquid water ever found on Mars.
  • The researchers said it could take years to verify whether something is actually living in this body of water that resembles a sub-glacial lake on the earth, perhaps with a future mission drilling through the ice to sample the water below.
  • The detection was made using data collected between May 2012 and December 2015 by an instrument aboard the European Space Agency’s Mars Express spacecraft that transmits radar pulses, which penetrate the Martian surface and ice caps.

::SPORTS::

Indian shuttlers progress to pre-quarter

  • India had a mixed day in office at the Russia Open as six singles shuttlers, including SourabhVerma and Rituparna Das, progressed to the pre-quarterfinals of the $75,000 BWF Tour Super 100 event here on Wednesday.
  • Also reaching the pre-quarterfinals were SiddharthPratap Singh, fifth seed SubhankarDey, seventh seed MugdhaAgrey and VrushaliGummadi in singles, while men’s doubles pair of Arun George and SanyamShukla also entered the third round.

Sehwag appointed chairman of DDCA panel

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