Feb 20, 2016: To Kill a Mockingbird

Feb 20, 2016: To Kill a Mockingbird

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 20, 2016)

To Kill a Mockingbird:

To Kill a Mocking Bird	A novel by Harper Lee
Harper Lee died. She was 89	(1926-2016)
To Kill a Mocking Bird published in 1960	Won the Pulitzer Prize for fiction

Source: A literary Garbo who detested fame by William Grimes, New York Times News Service,
Feb 20, 2016, The Hindu

Feb 19, 2016: Cabinet approves proposal to notify Trade Facilitation Agreement (TFA)

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 19, 2016)

Trade Facilitation Agreement (TFA) of the WTO (World Trade Organization)	The Cabinet has approved a proposal  for ratification of TFA
Aim:	To simplify customs regulations for cross-border movements of goods
“These objectives are in consonance with India’s ‘Ease of Doing Business’ initiative
The TFA requires developing countries to build infrastructure for faster and hassle-free clearance of cross-border shipments.

Source:  Cabinet approval for trade facilitation pact ratification, Feb 19, 2016, The Hindu

Feb 18, 2016 Indo-Nepal ties and Nepal Prime Minister K.P. Sharma Oli’s visit to India

Feb 18, 2016: India-Nepal ties and Nepal Prime Minister K.P. Sharma Oli’s visit to India

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 18, 2016)

India-Nepal ties and Nepal Prime Minister K.P. Sharma Oli’s visit to India:

The first official visit of Nepal’s Prime Minister K.P.Sharma Oli  to India begins on Feb 19, 2016
The aim of his visit as per his briefing to the Nepali Parliament	·         Removing recent differences between the two countries and strengthening the historic bilateral ties ·         Further Nepal’s relations with India based on “principles of equa;ity, mutual respect and benefit”
Recent misunderstanding	·         He reacted negatively to Indian suggestions that the new Constitution take on board Madhesi reservations to create a broad consensus
India’s ‘Neighbourhood first’ policy	·         Prime Minister Modi’s maiden visit to Nepal in 2014 ·         India’s generous support following the devastating earthquake in April 2015 ·         $2 billion commitment over the next five year

Source: Restoring goodwill in India-Nepal ties by Rakesh Sood, Feb 18, 2016, The Hindu

Boutros Boutros -Ghali  (1922-2016), the former UN Secretary General dies:

Boutros Boutros- Ghali	Led the UN between 1992 and 1996
	·         Boutros Boutros-Ghali was the first African to serve as UN Secretary General, ·         also the first to serve only one term in the post
	·         he faced criticism for the UN's failure to stop the 1994 genocide in Rwanda. ·         Washington was angered by his opposition to NATO's bombing campaign in Bosnia. ·         This contributed to his ousting.

Source: http://www.bbc.com/news/world-middle-east-35590039

Feb 17, 2016: 12th SOUTH ASIAN GAMES concludes on 16th Feb

Feb 17, 2016: 12^th SOUTH ASIAN GAMES concludes on 16^th Feb

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 17, 2016)

12^th South Asian Games (from 05^th Feb 2016 to 16^th Feb 2016) concludes on 16^th Feb 2016:

The Mascot of the 12th South Asian Games	Tikhor
Participating nations (8)	Afghanistan, Bangladesh, Bhutan, Maldves, Nepal, Pakistan, Sri Lanka, India
Medal tally for India	Total 308 Medals (Gold-188, Silver-90, Bronze-30)
13th edition of the Games to be hosted in 2018	Venue: Nepal

Source: No abatement in India’s domination, Feb 17, 2016, The Hindu

Feb 16, 2016: Section 124-A of Indian Penal Code & & Recommendations of Narasimham Committee –II

Feb 16, 2016: Section 124-A of Indian Penal Code & Recommendations of Narasimham Committee –II

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 16, 2016)

Sedition and Section 124-A of the Indian Penal Code:

A relic of our colonial past

The colonialists used the clause in three separate, successful trials of Bal Gangadhar Tilak, and also in persecuting Mahatma Gandhi in 1922. ‘Section 124-A under which I am happily charged, is perhaps the prince among the political secions of the IPC designed to suppress the liberty of the citizen,’ said Gandhi in response to the charges made on him.

Source: Sedition and the Government by Suhrith Parthasarathy, Feb 16, 2016, The Hindu

Recommendations of Narasimham Committee –II (Committee on Banking Sector Reforms):

Committee on Banking Sector Reforms (Narasimham Committee II)	Structural Issues : 31. The Committee has taken note of the twin phenomena of consolidation and convergence which the financial system is now experiencing globally. In India also banks and DFIs are moving closer to each other in the scope of their activities. The Committee is of the view that with such convergence of activities between banks and DFIs, the DFIs should, over a period of time, convert themselves to banks. There would then be only two forms of intermediaries, viz. banking companies and non-banking finance companies. If a DFI does not acquire a banking licence within a stipulated time it would be categorised as a non-banking finance company. A DFI which converts to a bank can be given some time to phase in reserve requirements in respect of its liabilities to bring it on par with the requirements relating to commercial banks. Similarly, as long as a system of directed credit is in vogue a formula should be worked out to extend this to DFIs which have become banks (Chapter V, para 5.6) . https://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=251
‘Conversion of DFIs into universal commercial bank as per recommendation’ and the present malady of PSBs.	·         Following the recommendations of the Narasimham Committee-II, DFIs like the ICICI and IDBI, which were created in the post-Independence period to provide long-term finance for industry, were converted into universal commercial banks. ·         The committee’s presumptions regarding the capacity and skills of the commercial banks and capital markets in India being sufficient in meeting the financing needs of the industrial sector have turned out to be gross overestimates. ·         NPAs have not only made a comeback, but are threatening the very stability of the banking system.
Cause of accumulation of bad loans in public sector banks	·         “A key systemic cause behind such intense corporate debt distress and the accumulation of bad loans within the public sector banks is to be found in the premature euthanasia of the Development Financial Institutions (DFIs) in India.”
Revival of Development Financial Institutions	·         “Delinquent corporate borrowers and negligent bankers need no state support. Development Financial Institutions should be revived for industrial and infrastructure financing.”

Source: No bailout with taxpayer money, Feb 16, 2016, The Hindu

Feb 15, 2016: Section 124-A of Indian Penal Code

Feb 15, 2016: Section 124-A of Indian Penal Code

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 15, 2016)

Section 124-A of the Indian Penal Code:

Section 124-A

Sedition Whoever by words, either spoken or written, or by signs, or by visible representation, or otherwise, brings or attempts to bring into hatred or contempt, or excites or attempts to excite disaffection towards, the Government established by law in India, a shall be punished with imprisonment for life, to which fine may be added, or with imprisonment which may extend to three years, to which fine may be added, or with fine.

Supreme Court’s caution

Section 124-A of the Indian Penal Code, which makes sedition punishable with life imprisonment, has been casually invoked despite the Supreme Court repeatedly cautioning that even words indicating disaffection against the state will not constitute the offence, unless there is a call for violence or a pernicious tendency to create public disorder.

Source: State overreach on the campus, Feb 15, 2016, The Hindu

& https://www.kaanoon.com/indian-law/ipc-124a/ visited on Feb 15, 2016

Reforms in the Banking Sector:

Combined market capitalization of public sector banks has fallen below private sector peer HDFC
Finance Minister is likely to announce a series of banking reforms	This may include cutting equity in banks
As per FM public sector banks have to play an important role in financial inclusion and geographical reach

Source: Jaitley hints at cutting equity in banks, series of reforms by Piyush Pandey, Feb 15, 2016, The Hindu

Indian-LIGO project:

Indian-LIGO project, or INDIGO, will be replica of two LIGO detectors

Source: Indian gravity wave detector 8 years away, Jacob Koshy, Feb 15, 2016, The Hindu

19% Decline in India’s Auto Export in January 2016:

Passenger car shipments from India declined 18.85 per cent due to challenges in top export markets like Algeria, Europe and neighbouring countries

Source: Auto exports decline 19% in January, Feb 15, 2016, The Hindu

Feb 14, 2016: Make in India Week

Feb 14, 2016: Make in India Week

General Studies: Daily Capsule

Curtain Raiser –News Update (Feb 14, 2016)

Make in India Week:

Emphasis on 4Ds by Prime Minister	4Ds: Deregulation, Democracy, Demography, Demand
Government’s emphasis	·         “zero defect and zero effect manufacturing” ·         “minimum government, maximum governance”
Commitment to cleaner and greener energy	India’s commitment at COP 21 meeting

Source: India, a land of great opportunity, Feb 14, 216, The Hindu

Gravitational Waves: IISER’s contribution:

The Gravitational Wave Group at the School of Physics, IISER, Thiruvananthapuram

Part of the Indian initiative in Gravitational wave Observation

Source:  IISER eyes greater role in gravitational waves project, Feb 14, 216, The Hindu

Historic meeting between Vatican and Russian Orthodox Church:

Pope Francis, leader of the world’s 1.2 billion Roman Catholics and Patriarch Kirill, head of the Russian Orthodox Church with 150 million followers met at Havana airport.

They signed 30-point joint declaration.

Source: Pope, patriarch hold historic meeting, Feb 14, 216, The Hindu