INDIAN AFFAIRS
Indian and Germany joins hand to deepen the collaboration in Skill Development
- India andGermanysigned an agreement that aims to foster conditions that will help create and improve workplace-based vocational training in India’s industrial clusters in order to deepen the collaboration on skill development.
ii. This provides a competitive edge to German industry and businesses and need to adapt elements of the German VET system to the Indian context to ensure that skill training in India is closely aligned with the requirements of industry.
iii. The agreement was signed between the Ministry of Skill Development and Entrepreneurship (MSDE) and German International Cooperation (GIZ) and will initiate a new project focused on adapting elements of the German dual system in select industrial clusters in India.
iv. The aim of the programme is to involve private sector and entrepreneurs in defining the qualification that is required in creating practical training at the workplace.
v. This project will run for three years starting August 2016 with a budget of EUR 3,000,000 (22.6 crore) – made available by the German Government and aims to foster conditions which will help create and improve cooperative workplace-based vocational training in India’s industrial clusters.
Child Sex Ratio drops to a whooping 800 of 1000 in Uttarakhand
- A study conducted by theRegistrar General and Census Commissioner of India has found that child sex ratio i.e number of girls per 1,000 boys is all set to fall drastically to a little over 800 by 2021 census.
ii. In India, the Child Sex Ratio is defined as the number of females per thousand males in the age group 0–6 years in a human population.
iii. Thus it is equal to 1000 x the reciprocal of the sex ratio in the same age group,i.e. under age seven. Obviously an imbalance in this age group will extend to older age groups in future years. Currently the ratio of males to females is generally significantly greater than 1, i.e. there are more boys than girls.
iv. According to the decennial Indian census, the sex ratio in the 0-6 age group in India went from 104.0 males per 100 females in 1981, to 105.8 in 1991, to 107.8 in 2001, to 108.8 in 2011. The ratio is significantly higher in certain states such as Punjab and Haryana.
v. The sex ratio at birth (SRB) as per the Asian Centre for Human Right swas 861 in 2011-2012 and 867 during 2012-2013 respectively in Uttarakhand.
vi. If under-five mortality rate of 48 deaths per 1,000 births in India is taken into account in the context of Uttarakhand, the child sex ratio in the state would have reduced to 813 in 2011-2012 and 819 in 2012-2013.
vii. It is noted that Uttarakhand has the seventh lowest child sex ratio (CSR) in the age group of 0-6 years among 35 States/UTs of India as per the 2011 census with CSR of 890 girls per thousand boys.
OIC expresses concern over Kashmir violence
- The world’s largest bloc of Muslim countries Organisation of Islamic Cooperation have expressed concern over allegedhuman rights violations in Kashmir. The valley has seen month long clashes between Protesters and police.
ii. The IOC’s secretary-general Iyad Madani, said at a news conference in Islamabad that the situation in Kashmir was worsening and prevailing on the international community to act.
iii. The secretary General also went onto say that we should not be afraid of referendum adding that it was up to the Kashmiri people to decide their future.
INTERNATIONAL AFFAIRS
Myanmar extends support to China’s One Belt and One Road project
- Myanmarannounced its support for China’s ambitiousOne Belt and One Road (OBOR)connectivity initiative along the ancient Silk Road and this was announced in the joint statement released by both countries during official state visit of Myanmar’s State CounsellorAung San Suu Kyi to China.
ii. The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as The Belt and Road,One Belt, One Road or the Belt and Road Initiative is a development strategy and framework, proposed by Chinese paramount leader Xi Jinping that focuses on connectivity and cooperation among countries primarily between the People’s Republic of China and the rest of Eurasia, which consists of two main components, the land-based “Silk Road Economic Belt” (SREB) and oceangoing “Maritime Silk Road” (MSR).
93 years old WWII veteran Ernie Andrus become the oldest person to run across America
- A 93-year-oldWorld War II Ernie Andrus veteran completed his coast-to-coast trek,becoming the oldest person in America to run across the country.
ii. After two years and 10 months, 93-year-old Ernie Andrus has made it across America. The World War II veteran dipped his toes in the Atlantic Ocean, there by ending a cross-country run that started in San Diego.
BANKING & FINANCE
Jawaharlal Nehru Port Trust to sign agreement with bankers for External Commercial Borrowing
- Mumbai based container port,Jawaharlal Nehru Port has signed an agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing to the tune of USD 400 Million under External Commercial Borrowings. It the first Major Port to finalize the terms of ECB.
ii. The Credit seeks at a very competitive interest rate to improve the infrastructure required for doubling its existing capacity to 9.85 Million TEUs annually which is for Door-to-Doortenor of 7.5 years.
iii. This ECB would substantially eliminate the requirement of hedging the forex risk and further reduce the cost of borrowing.
iv. The agreement with the SBI & DBS was signed after the Reserve bank of Indiagranted approval to JNPT for raising USD400 Million with an end use of on-lending to Mumbai JNPT Port Road Company Limited (MJPRCL) for implementation of road project.
Cabinet liberalises FDI norms for NBFC sector
- The Union Cabinet chaired by Prime Minister Narendra Modi has permitted foreign investment throughautomatic route in other financial services, that are comes under regulators like Reserve Bank of India (RBI) and State bank of India (SBI) and Pension Fund Regulatory and Development Authority (PFRDA) or government agencies.
ii. At present regulations on Non-Banking Finance Companies (NBFCs) stipulate that 100 per cent FDI through automatic route permitted for only 18 specified NBFC activities such as merchant banking, under writing, portfolio management services.
iii. The amendment in the Foreign Exchange Management (Transfer or Issue of Security by the Person Resident outside India) regulations on NBFCs will allow inflow of FDI in “Other Financial Services” on automatic.
Central Government to ban cash transactions over 3 lakhs to curb black money
- In the next move toclamp down on black money in the economy, the government is set to ban cash transactions over Rs 3 lakh.
ii. The Rs 3 lakh-limit is aimed to ensure that transactions are made using credit or debit cards, cheques or drafts which can be easily tracked.
iii. The government has already initiated several steps, including banning cash advance of more than Rs 20,000 for property transactions.
BUSINESS
BSNL, Microsoft India sign MoU for big businesses
- State run PSU Bharat Sanchar Nigam Limitedand Tech giant Microsoft India signed a memorandum of understanding (MoU) to provide telecom & IT solutions for big businesses to leverage the domain capability and strategic position in the Industry to garner more business.
GAIL signs MoU with Bloom Energy for fuel cell power generation
- India’s largest state-owned natural gas processing and distribution companyGAIL Ltd signed a memorandum of understanding (MoU) with California-based Bloom Energy for developing natural gas-based fuel cell power generation.
ii.The MoU was inked between GAIL chairman and managing director B C Tripathi and Bloom Energy chief executive K R Sridhar.
iii. The Fuel cell power generation is a method comes with less pollution or negligible which can be put in places like even our Parliament and also in areas like Andaman and Nicobar, where people are hugely dependent on diesel for power generation.
AWARDS & RECOGNITIONS
Indian Actor Kamal Haasan awarded with Chevalier de l’Ordre des Arts et Lettres
- ActorKamal Haasan has been chosen for the famous French honor of Chevalier Award. Kamal Haasan has been appointed Chevalier de l’Ordre des Arts et Lettres (Knight in the National Order Arts and Letters) by the Minister of Culture and Communication, France.
ii. Kamal Haasan is an Indian film actor, screenwriter, director, producer,playback singer, choreographer, lyricist, philanthropist and dancer. His birth name is Parthasarathy.
iii. Haasan has won several Indian film awards including four National Film Awards and 19 Filmfare
IOA President N. Ramachandran was awarded with the Olympic Order
- Indian Olympic Association (IOA) PresidentN. Ramachandran was awarded the Olympic Order for his outstanding services to the Olympic movement.
ii. Narayana Ramachandran is an Indian squash administrator who serves as current President of WSF (World Squash Federation). He was elected on 2008, succeeding Jahangir Khan.
APPOINTMENTS & RESIGNS
Ashok Chawla to take over as YES Bank non-executive chairman
- Former head of the Competition Commission of India (CCI)Ashok Chawla has been named as the non-executive part-time chairman of Mumbai based YES Bank.
ii. Presently he is the Chairman of NSE and chairs the governing council of The Energy and Research Institute (TERI). He worked as the chairman of the Competition Commission of India (CCI) post retirement.
iii. The lender has given approval of the appointment for a period of three years from the Reserve Bank of India.
iv. Chawla is set to take over from October 30 from the incumbent Chairperson, Radha Singh as he demits office upon the term ends
SPORTS
Vikash Anand wins premier title in National Racing
- Chennai hailed Vikash Anandwon a double to clinch the title in the MRF Formula 1600 category and a ticket for the Mazda Road to Indy shootout as the fifth and final round of the MRF MMSC FMSCI Indian National Racing Championship concluded in Chennai.
Gujarat to host the 2016 – Kabaddi World Cup
- The International Kabaddi Federation (IKF) announced that the2016 World Cup will be held in Ahmedabad, Gujarat.
ii. The tournament is set to take place from 7 to 22 October. Gujarat will play host to 12 teams from around the world including India, USA, Canada, UK, Australia, Iran, Poland, Pakistan, Bangladesh, Korea, Japan and Kenya.
Sania Mirza moves alone to the top of WTA Doubles Ranking
- India’sSania Mirza took sole possession of the WTA doubles number one ranking after teaming up with Barbora Strycova to beat former partner Martina Hingis and Coco Vandeweghe 7-5, 6-4 in Sunday’s Cincinnati final.
ii. Hingis and American Vandeweghe saw a 5-1 lead in the opening set evaporate, before Mirza and the Czech Republic’s Strycova hung in during the second to close out a straight-sets victory.
iii. Sania will move alone to the top of the rankings, after Sania and Hingis ended their highly successful partnership last month as joint number ones.
iv. It is noted that though Hingis and Mirza are no longer permanently together, they will still play in October’s year-end WTA Tour Championships in Singapore