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Current Events 25 March 2017

 

NEWS

25 March 2017

Sr. No.

Topic

News

1.

GS III: ECONOMY  BANKING

Centre seeks banks' turnaround plans

2.

GS II: GOVERNANCE

Uttarakhand summer capital back on agenda

3.

GS II: POLITY LAW

‘Fortify democracy against hate speech'

4.

GS II: POLITY JUDICIARY

SC to probe closure of 199 anti-Sikh riots cases

5.

GS II: SOCIAL-HEALTH

Drug-resistant TB a concern

6.

GS III : GOVERNANCE

Environment Ministry official to chair animal welfare board

7.

GS III : INFRASTRUCTURE

ICHR to study if Ram Setu is man-made

8.

GS III : DEFENCE

INS Vikramaditya fires surface-to-air missile

9.

GS II : INTERNATIONAL MYANMAR

UN to probe Myanmar ‘crimes'

10.

GS II : INTERNATIONAL USA

‘CIA has tools to spy on Mac computers'

11.

GS II : GOVERNANCE AADHAAR

Aadhaar now needed for mobile connection

12.

GS II : REGULATORY BODIES SEBI

SEBI slaps RIL with Rs. 447 crore disgorgement order over RPL

13.

GS II : REGULATORY BODIES CCI

CCI imposes penalty on Coal India

14.

GS II: S&T-HEALTH

Two thirds of cancers caused by random genetic typos: study

15.

GS III : S&T SPACE

Gravitational waves kick out black hole from galactic core

16.

GS III : ENVIRONMENT POLLUTION

Light pollution: Another reason to flip the switch off

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 








GS III: ECONOMY BANKING

Centre seeks banks' turnaround plans

  • The Finance Ministry has written to 10 public sector banks, including IDBI Bank, Bank of Maharashtra, United Bank of India, Andhra Bank and Indian Overseas Bank, making it clear that the lenders would only get further capital infusion once they submit a time-bound turnaround plan.
  • The Centre, which has mandated State Bank of India's merchant banking arm SBI Caps to vet each bank's plan, wrote to the state owned lenders stipulating that they would each have to sign a Memorandum of Understanding (MoU) with the government, agreeing to stick to the turnaround plan.
  • Bad loans zoomed following the Reserve Bank of India's asset quality review, which required banks to classify many accounts identified by the banking regulator as ‘bad'.
  • The RBI said it wanted to clean up banks' balance sheets by March 2017.
  • In its financial stability report, RBI had said banks may remain risk averse in the near future as they clean up their balance sheets and their capital position may remain insufficient to support higher credit growth.
  • According to RBI data, gross non-performing assets of commercial banks increased to 9.1% of their gross advances as of September 2016, from 5.1% a year earlier. Public sector banks share a disproportionate burden of this stress.
  • In 2015, under the Indradhanush plan, the government had announced capital infusion of Rs. 70,000 crore in public sector banks for four years, starting from 2015-16.
  • In the first two financial years, Rs. 25,000 crore had been earmarked per year with Rs. 10,000 crore to be disbursed in each of the remaining two years.
  • Credit rating agencies had pointed out that the sum was insufficient as banks needed to meet Basel-III norms as well as make provisions for rising bad loans.

Stressed assets = NPAs + Restructured loans +Written Off Assets

Non Performing Asset (NPA)

  • An NPA means interest or principal is not repaid by the borrower during a specified time period (90 days).NPAs assets are further classified into substandard asset, doubtful asset, and loss assets depending upon how long a loan remains as an NPA.

Restructured asset

  • Those assets which got an extended repayment period, reduced interest rate, converting a part of the loan into equity, providing additional financing, or some combination of these measures.
  • Hence, under restructuring a bad loan is modified as a new loan. But the real problem is that it was actually an NPA.

Written off assets

  • Those that bank or lender doesn't count the money borrower owes to it.
  • The financial statement of the bank will indicate that the written off loans are compensated through some other way.
  • This does not mean that the borrower is pardoned or got exempted from payment.

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GS II: GOVERNANCE

Uttarakhand summer capital back on agenda

  • In the first State Assembly session after the formation of the BJP government, Uttarakhand Governor K. K. Paul unfolded the BJP's plan of development for the State, including Gairsain, a village in Chamoli district, to be declared as the State's summer Capital.
  • The Vidhan Sabha building has been constructed. Work to build the Secretariat will start soon.
  • During the Uttarakhand movement, agitators wanted Gairsain to be the capital for inclusive growth of the hilly areas.
  • However, Dehradun was made the provisional state capital.
  • The village was proposed to be the State's capital since it is situated in the hills and could lead to the development of the hill areas, which was the key issue behind the demand for Statehood.

 

GS II: POLITY LAW

‘Fortify democracy against hate speech'

  • Hate speech has the potential to provoke individuals and society to commit acts of terrorism, genocides and ethnic cleansing. It is an "incitement to hatred" against a particular group of persons marginalised by their religious belief, sexual orientation, gender, etc.
  • The Law Commission of India laid out bare the danger of hate speech to the Central government in its 267th Report released on 24 March 2017.
  • The Commission headed by former Supreme Court judge, Justice Balbir Singh Chauhan, called for action from the government and Parliament.
  • The top law advisory body to the government urged the expansion of the penal law.
  • It drafted a new law - The Criminal Law (Amendment) Bill, 2017 - inserting new Sections to fortify democracy against hate speeches.
  • "Hate speech is any word written or spoken, signs, visible representations within the hearing or sight of a person with the intention to cause fear or alarm, or incitement to violence," the report defined.
  • The SC in 2014 had referred to the Law Commission for means to arm the Election Commission to crack down on hate speech.

 

GS II: POLITY JUDICIARY

SC to probe closure of 199 anti-Sikh riots cases

  • The Supreme Court called for the complete records of 199 anti-Sikh riots cases closed by a government- appointed Special Investigation Team (SIT) even as victims and their families accused the probe body of opacity.
  • The SIT was given a total 293 cases riots that occurred in Delhi in the aftermath of the assassination of Prime Minister Indira Gandhi in 1984 by her Sikh bodyguards.
  • Two years after they were given charge of the cases in 2015, the SIT has filed charge sheets in just four of the cases.
  • The court directed the Union to place all records of the 199 cases and scheduled the case for hearing on April 25, 2017.

 

GS II: SOCIAL-HEALTH

Drug-resistant TB a concern

  • In connection with World Tuberculosis (TB) Day on 24 March 2017, a candlelight vigil was organised at India Gate, paying tribute to the nearly 5 lakh patients who succumbed to the disease last year.
  • The tuberculosis epidemic affects 28 lakh Indians; another 79,000 people suffer from type of TB resistant to most antibiotics.
  • India has come under criticism from the global public health community for giving inaccurate estimates of the tuberculosis burden between 2000 and 2015.
  • Tuberculosis is a contagious infection caused by Mycobacterium tuberculosis and it usually attacks the lungs.
  • It can also spread to other parts of the body like the brain and spine.
  • Tuberculosis is contagious and spreads through the air, much like cold or flu.
  • The two new WHO recommended drugs for DR TB, Delaminid & Bedaquiline, are not currently available in Indian national TB programme.
  • While Delaminid is yet to be registered in India, Bedaquiline is available at only 6 States in the country, under compassionate use.
  • Meanwhile, the Indian government will soon be releasing the National Strategic Plan for TB Control (2017- 2025), with an overarching framework to achieving the elimination goal.

 

GS II : GOVERNANCE

Environment Ministry official to chair animal welfare board

  • The Animal Welfare Board of India (AWBI), a statutory advisory body established in 1962, under the Union Ministry of Environment, Forests and Climate Change (MoEF), will now be permanently chaired by a senior MoEF official, according to a notification made public earlier this month.
  • In its 55-year history the organisation has always been chaired by somebody outside government, such as veterinarians, animal welfare activists or retired judges.
  • The 22-member Board's three-year term ended February 28 and on March 1, a new Board of 18 members, chaired by Sharad Singh Negi, Special Secretary and Director-General (Forests), MoEF, came into effect.
  • Differences between the AWBI and the MoEF, especially on the conduct of the jallikattu, which brought Chennai to a standstill earlier this year, was a key reason for the Centre to exert primacy in the management of the organisation, two people familiar with the AWBI's workings told.
  • The Chennai-based organisation, which derives its legal structure from the Prevention of Cruelty to Animals Act, 1960, frames a range of rules on how animals ought to be humanely treated everywhere.
  • It has also frequently litigated to have stricter laws to ensure animals were not unduly harassed or tortured.
  • A petition by AWBI and a 2011 MoEF notification were instrumental to the SC banning jallikattu in Tamil Nadu in 2014 on the grounds that it was cruel to the animals and also put participants at risk.


GS III : INFRASTRUCTURE

ICHR to study if Ram Setu is man-made

  • The Indian Council of Historical Research (ICHR) is set to undertake an archaeological exploration to find out whether the Ram Setu is a natural or man-made phenomenon.
  • It will undertake the exploration in October and November, before deciding whether a detailed underwater archaeological excavation is required to probe deeper, said ICHR chairman Y. Sudershan Rao.
  • Also known as Adam's Bridge, Ram Sethu is a stretch of limestone shoals running from Pamban Island near Rameswaram in South India to the Mannar Island near the northern coast of Sri Lanka.
  • It is believed by Hindus that Ram Setu was built by god Ram and his army to reach Ravana's kingdom on that route when they were on their way to rescue Sita.
  • When there was a plan to build a Sethusamudram shipping canal project to cut travel time for ships - as they could not cross the shallow Ram Sethu otherwise - both Hindu groups and environmentalists opposed it.

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GS III : DEFENCE

INS Vikramaditya fires surface-to-air missile

  • Over three years after joining the Navy, the country's sole aircraft carrier INS Vikramaditya successfully carried out the maiden test of the newly installed Barak short range surface-to-air missile.
  • The 44,500 tonne carrier was commissioned into the Navy in November 2013 at Severodvinsk in Russia and was originally scheduled to have the long range surface to- air missile system under joint development with Israel.
  • But delay in its development resulted in the carrier being inducted into the force without its own air defence system, and forcing it to rely on support ships in the carrier battle group for air cover.

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GS II : INTERNATIONAL MYANMAR

UN to probe Myanmar ‘crimes'

  • The top UN human rights body agreed on 24 March 2017 to send an international fact finding mission to investigate widespread allegations of killings, rape and torture by security forces against Rohingya Muslims in Myanmar's Rakhine state.
  • The UN Human Rights Council adopted a resolution without a vote, brought by the European Union and supported by countries including the U.S., that called for "ensuring full accountability for perpetrators and justice for victims".
  • But Myanmar ambassador Htin Lynn, speaking before the decision was taken by consensus, rejected the move as "not acceptable".
  • Myanmar's national commission had just interviewed alleged victims who fled to Bangladesh and would issue its findings by August, he said.

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GS II : INTERNATIONAL USA

 ‘CIA has tools to spy on Mac computers'

  • The CIA developed tools to spy on Mac computers by injecting software into the chips that control the computers' fundamental operations, according to the latest cache of classified government documents published 23 March 2017 by WikiLeaks.
  • Apple said in a statement on 23 March 2017 evening that its preliminary assessment of the leaked information indicated that the Mac vulnerabilities described in the disclosure were previously fixed in all Macs launched after 2013.
  • However, the documents also indicated that the CIA was developing a new version of one tool last year to work with current software.
  • The leaked documents were the second batch recently released by WikiLeaks. The first group of documents, published on March 7, suggested that the CIA had found ways to hack Apple iPhones and Android smartphones, Microsoft Windows computers, Cisco routers and Samsung smart televisions.
  • Since the initial release of the CIA documents, which the agency has not confirmed are authentic, major technology companies have been scrambling to assess whether the security holes exploited by the CIA still exist and to patch them if they do.

 

GS II : GOVERNANCE AADHAAR

Aadhaar now needed for mobile connection

  • The Department of Telecommunications issued a notification, directing all phone service providers to reverify details for all existing subscribers through Aadhaar-based e-KYC (Know Your Customer) process.
  • This follows a Supreme Court order last month in which it had approved the government's plan to record the identification details of mobile subscribers through an e-KYC mechanism linked to Aadhaar.
  • The move will impact more than 100 crore mobile phone subscribers in the country, 90% of whom are prepaid card users.
  • The process is likely to cost about Rs. 2,500 crore which will be borne by the service providers, according to industry body COAI.
  • Mobile connections used for data services will be verified using the alternate number.
  • The department has also asked that companies devise a mechanism to avoid public inconvenience as well as long public queues.
  • In January this year, the Telecom Regulatory Authority of India (TRAI) had recommended the use of Aadhaar-based e-KYC for verification of existing mobile subscribers.
  • It had, however, proposed that this process should be optional to the service providers as well as mobile subscribers.



GS II : REGULATORY BODIES  SEBI

SEBI slaps RIL with Rs. 447 crore disgorgement order over RPL

  • The Securities and Exchange Board of India has issued a disgorgement order of ?447 crore against Reliance Industries Ltd. on charges of insider trading in Reliance Petroleum Ltd. (RPL) in 2007.
  • The regulator said RIL should disgorge an amount of ?447.27 crore along with interest at 12% per annum from November 29, 2007, till the date of payment.
  • SEBI has also barred RIL, along with 12 other entities, from dealing - directly or indirectly - in the equity derivatives market for a period of one year from the date of the order. However, they have been allowed to square off or close out any existing positions.
  • According to SEBI's investigation, RIL made unlawful gains amounting to ?513 crore "which could not have been made but for the fraudulent and manipulative strategy/pattern adopted by them."
  • The case dates back to March 2007 when RIL decided to raise resources by selling about 5% of its holdings in RPL. While RIL was dealing in the shares of RPL in the cash segment, it enlisted 12 entities as agents to operate on its behalf in the derivatives segment. These entities took substantial short positions in the derivatives segment. All orders were placed by Sandeep Agarwal, an employee of a subsidiary of RIL. As per SEBI, the trades in the cash and derivatives segments were done so as to "bring down the price in the cash segment and consequently the derivatives segment of the RPL scrip" and make undue extraordinary profits."
  • RIL, in its defence, has said that the strategy was adopted to "hedge the loss that it was expecting due to the impending sales in the cash segment by taking appropriate positions in the F&O segment."

 

GS II : REGULATORY BODIES CCI

CCI imposes penalty on Coal India

  • Fair trade regulator Competition Commission of India (CCI) has imposed a penalty of Rs. 591.01 crore upon Coal India Limited (CIL) on finding that CIL and its subsidiaries violated the Competition Act by imposing unfair and discriminatory conditions in Fuel Supply Agreements (FSAs) with power producers for supply of non-coking coal.
  • Apart from ordering CIL and its subsidiaries to "cease and desist" from anti-competitive practices, the CCI also directed modification of the FSAs, a government statement said.
  • It added that CIL had also been directed to ensure uniformity between old and new power producers as well as between private and PSU power producers.
  • The order follows the Competition Appellate Tribunal remanding the matter back while setting aside the CCI's original order in which a penalty of Rs. 1,773.05 crore was imposed on the coal major.

Competition Commission of India (CCI) 

  • Competition Commission of India is a body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India.
  • It was established on 14 October 2003.
  • It became fully functional in May 2009.

 

GS III: S&T-HEALTH

Two thirds of cancers caused by random genetic typos: study

  • About two thirds of cancers are caused by random typos in DNA that occur as normal cells make copies of themselves, a finding that helps explain why healthy individuals who do everything they can to avoid cancer are still stricken with the disease, U.S. researchers have reported.
  • The new findings are based on genetic sequencing and cancer studies from 69 countries around the world.
  • Although most of these mutations cannot be prevented, the team stressed that early detection and treatment can prevent many cancer deaths, regardless of the cause.
  • Though most cancers are due to "bad luck", people should not ignore sound public health advice that can help people avoid preventable cancers, including maintaining a healthy weight and avoiding environmental risk factors such as smoking, the team said.

 

GS III : S&T SPACE

Gravitational waves kick out black hole from galactic core

  • NASA's Hubble space telescope has detected a supermassive black hole that has been kicked out of the centre of a distant galaxy by what could be the power of gravitational waves.
  • Weighing more than one billion suns, the rogue black hole is the most massive black hole ever detected to have been kicked out of its central home.
  • Researchers estimate that it took the equivalent energy of 100 million supernovas exploding simultaneously to jettison the black hole.
  • The most plausible explanation for this propulsive energy is that the monster object was given a kick by gravitational waves unleashed by the merger of two hefty black holes at the centre of the host galaxy, according to the scientists.
  • First predicted by Albert Einstein, gravitational waves are ripples in space that are created when two massive objects collide.

 

 

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GS III : ENVIRONMENT POLLUTION

Light pollution: Another reason to flip the switch off

  • For the 11th year running, cities worldwide will turn their lights off on 25 March 2017 to mark Earth Hour in a global call to action on climate change.
  • But the moment of darkness should also serve as a reminder, activists say, of another problem that gets far less attention: light pollution.
  • More than 80% of humanity lives under skies saturated with artificial light, scientists recently calculated.
  • In the United States and western Europe, that figure goes up to 99 percent of the population.
  • Artificial lighting has been shown to disturb the reproductive cycles of some animals and the migration of birds that navigate using the stars, and to disorient night-flying insects.
  • For humans, circadian rhythms that regulate hormones and other bodily functions can also be thrown out of whack by too much light at night.
  • Even the most ardent critics of light pollution are not saying cities should go dark, or that lighting is not an essential element of urban life. But society needs to address a growing list of concerns, they suggest.
  • Over the last 15 years, biologists, doctors, non-governmental organisations and even UNESCO have joined the fight against light pollution by detailing negative impacts to health and well being - for humans and other animals.
  • In 2012, the American Medical Association (AMA) concluded that exposure to "excessive" night light "can disrupt sleep and exacerbate sleep disorders".
  • And it called for more research into possible links to cancer, obesity, diabetes and depression.
  • Last year, the AMA raised another red flag, this time about light-emitting diodes, better known as LEDs.
  • Local governments in wealthy countries are racing to replace existing streetlights with LEDs, which consume less energy and last longer.
  • In the United States, fully 10% of public lighting has already switched over to LED. That is good news for the fight against global warming, cutting on fossil-fuel burning for electricity, but it may be bad news for health, the AMA cautioned.
  • "Some LED lights are harmful when used as street lighting," AMA board member Maya Babu said in a statement. Not only do the bluish, high-intensity lights create a view-obscuring glare, they have "five times greater impact on circadian sleep rhythms than conventional street lamps," the AMA concluded.

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Current Affairs News Covered:

1. GS III: ECONOMY BANKING - Centre seeks banks' turnaround plans
2. GS II: GOVERNANCE - Uttarakhand summer capital back on agenda
3. GS II: POLITY LAW - ‘Fortify democracy against hate speech'
4. GS II: POLITY JUDICIARY - SC to probe closure of 199 anti-Sikh riots cases
5. GS II: SOCIAL-HEALTH - Drug-resistant TB a concern
6. GS III : GOVERNANCE - Environment Ministry official to chair animal welfare board
7. GS III : INFRASTRUCTURE - ICHR to study if Ram Setu is man-made
8. GS III : DEFENCE - INS Vikramaditya fires surface-to-air missile
9. GS II : INTERNATIONAL MYANMAR - UN to probe Myanmar ‘crimes'
10. GS II : INTERNATIONAL USA - ‘CIA has tools to spy on Mac computers'
11. GS II : GOVERNANCE AADHAAR - Aadhaar now needed for mobile connection
12. GS II : REGULATORY BODIES SEBI - SEBI slaps RIL with Rs. 447 crore disgorgement order over RPL
13. GS II : REGULATORY BODIES CCI - CCI imposes penalty on Coal India
14. GS II: S&T-HEALTH - Two thirds of cancers caused by random genetic typos: study
15. GS III : S&T SPACE - Gravitational waves kick out black hole from galactic core
16. GS III : ENVIRONMENT POLLUTION - Light pollution: Another reason to flip the switch off

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