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CURRENT AFFAIRS – JUNE 2016 BYJU’s Classes 9980837187 1. President Powers over state bills In news because of Manipur bills and also issues raised by Delhi Government Points to read- (Laxmikanth) a. Difference between Presidential Powers and Governor Powers with respect to bills b. Difference between state and UT 2. Manipur bills issue Points to focus a. Article 371-C b. The contentious bills are the Manipur Land Reforms and Land Revenue (7th Amendment) Bill, 2015, the Manipur Shops and Establishment (2nd Amendment) Bill, 2015 only issue is that it is a anti-migrant bill c. The Manipur Protection of Peoples Bill, 2015 against hill people (Nagas and Kukis) d. The Joint Committee on Inner Line Permit System (JCILPS), which spearheads the movement for legislation to protect the indigenous population from migrants, announced its own shutdown against the delay in enactment of the three bills. The JCILPS demands an inner line permit (ILP) system for Manipur which has been encapsulated in the three anti-migrant bills passed by the Manipur assembly that now await the president’s nod. e. The ILP is a special permit required to enter certain restricted areas in the country. The system is already in force in Arunachal Pradesh, Nagaland and Mizoram. It was first introduced by the British, restricting entry into these areas to protect their commercial interests. Source: http://www.theshillongtimes.com/2016/06/08/delhi-rejects-3- anti-migrant-bills-passed-by-manipur/ 3. Model Code of Conduct: Points to focus – MCC from Laxmikanth 4. Railway budget: In 1924, William Ackworth proposed separation of railway budget. The Union budget is a Constitutional requirement and is presented under Article 112 of the Indian Constitution, which mandates an annual financial statement, the Constitution does not talk about the railway budget in particular. 5. National Education Policy- TSR Subramanian Committee recommendations

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Page 1: CURRENT AFFAIRS JUNE 2016 - Amazon Web Services · PDF fileThe major causes of meteorological drought may be summed up as under: (i) Lean monsoon and below average rainfall due to

CURRENT AFFAIRS – JUNE 2016

BYJU’s Classes 9980837187

1. President Powers over state bills

In news because of Manipur bills and also issues raised by Delhi Government

Points to read- (Laxmikanth)

a. Difference between Presidential Powers and Governor Powers with respect to

bills

b. Difference between state and UT

2. Manipur bills issue

Points to focus

a. Article 371-C

b. The contentious bills are the Manipur Land Reforms and Land Revenue (7th

Amendment) Bill, 2015, the Manipur Shops and Establishment (2nd

Amendment) Bill, 2015 only issue is that it is a anti-migrant bill

c. The Manipur Protection of Peoples Bill, 2015 against hill people (Nagas

and Kukis)

d. The Joint Committee on Inner Line Permit System (JCILPS), which

spearheads the movement for legislation to protect the indigenous

population from migrants, announced its own shutdown against the delay in

enactment of the three bills. The JCILPS demands an inner line permit (ILP)

system for Manipur which has been encapsulated in the three anti-migrant

bills passed by the Manipur assembly that now await the president’s nod.

e. The ILP is a special permit required to enter certain restricted areas in the

country. The system is already in force in Arunachal Pradesh, Nagaland and

Mizoram. It was first introduced by the British, restricting entry into these

areas to protect their commercial interests.

Source: http://www.theshillongtimes.com/2016/06/08/delhi-rejects-3-

anti-migrant-bills-passed-by-manipur/

3. Model Code of Conduct:

Points to focus – MCC from Laxmikanth

4. Railway budget:

In 1924, William Ackworth proposed separation of railway budget.

The Union budget is a Constitutional requirement and is presented under

Article 112 of the Indian Constitution, which mandates an annual financial

statement, the Constitution does not talk about the railway budget in

particular.

5. National Education Policy- TSR Subramanian Committee

recommendations

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Top 10 recommendations of the report:

1) An Indian Education Service (IES) should be established as an all India

service with officers being on permanent settlement to the state governments

but with the cadre controlling authority vesting with the Human Resource

Development (HRD) ministry.

2) The outlay on education should be raised to at least 6% of GDP without

further loss of time.

3) There should be minimum eligibility condition with 50% marks at graduate

level for entry to existing B.Ed courses. Teacher Entrance Tests (TET) should be

made compulsory for recruitment of all teachers. The Centre and states should

jointly lay down norms and standards for TET.

4) Compulsory licensing or certification for teachers in government and private

schools should be made mandatory, with provision for renewal every 10 years

based on independent external testing.

5) Pre-school education for children in the age group of 4 to 5 years should be

declared as a right and a programme for it implemented immediately.

6) The no detention policy must be continued for young children until

completion of class V when the child will be 11 years old. At the upper primary

stage, the system of detention shall be restored subject to the provision of

remedial coaching and at least two extra chances being offered to prove his

capability to move to a higher class

7) On-demand board exams should be introduced to offer flexibility and reduce

year end stress of students and parents. A National Level Test open to every

student who has completed class XII from any School Board should be

designed.

8) The mid-day meal (MDM) program should now be extended to cover students

of secondary schools. This is necessary as levels of malnutrition and anaemia

continue to be high among adolescents.

9) UGC Act must be allowed to lapse once a separate law is created for the

management of higher education. The University Grants Commission (UGC)

needs to be made leaner and thinner and given the role of disbursal of

scholarships and fellowships.

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10) Top 200 foreign universities should be allowed to open campuses in India

and give the same degree which is acceptable in the home country of the said

university.

6. Drought and National Water Framework Bill:

Points to focus:

a. Definition of Drought: The Indian Meteorological Department (IMD) has

defined drought as a situation occurring in any area when the mean

annual rainfall is less than 75% of the normal rainfall. IMD has further

classified droughts into the broad categories viz., a severe drought when

the deficiency of rainfall exceeds 50% of the normal rainfall and moderate

drought when the deficiency of rainfall is between 25 and 50% of the

normal rainfall.

b. Types of Drought:

i. Meteorological Drought: The IMD classifies a meteorological drought

as one where the overall rainfall deficiency is more than 10 per cent

and 20-40 per cent of the country is under drought-like condition.

It describes a situation where there is a reduction in rainfall for a

specific period (days, months, seasons or year) below a specific

amount (long term average for a specific time).

The major causes of meteorological drought may be summed up as

under:

(i) Lean monsoon and below average rainfall due to absence of

depressions over India.

(ii) Late onset or early withdrawal of monsoons.

(iii) Prolonged breaks in monsoon. s

(iv) Re-establishment of southern branch of jet stream.

ii. Hydrological Drought:

Hydrological drought is associated with reduction of water. A

meteorological drought often leads to hydrological drought. Generally

it takes two successive meteorological droughts before the

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hydrological drought sets in. There are two types of hydrological

droughtssurface water drought and ground water drought.

Surface-water Drought: It is concerned with drying up of surface

water resources such as rivers, streams, lakes, ponds, tanks,

reservoirs etc. There are many processes, besides meteorological

drought, which lead to surface water drought. Large scale

deforestation is the main cause of surface water drought.

Some other unwanted human activities have led to the enhancement

of flood/drought duo. Important among them are ecologically

hazardous mining, indiscriminate road construction, averaging and

spread of non-terraced agriculture.

Ground-water Drought: Ground-water drought is associated with

the fall in the ground water level. This happens due to excessive

pumping of ground water without compensatory replenishment and

creates more or less irreversible ground water drought even in

normal rainfall conditions.

iii. Agricultural Drought:

Agricultural drought is concerned with the impact of

meteorological/hydrological drought on crop yield. When soil

moisture and rainfall conditions are not adequate enough to support

a healthy crop growth to maturity thereby causing extreme moisture

stress and wilting of major crop area, it leads to agricultural drought.

Agricultural drought may occur even when there is no meteorological

drought and vice-versa. It is worth noting that agricultural drought is

a relative category, depending upon the value of plant and soil. What

could be a drought condition for the cultivation of rice could well be a

suitable condition for wheat and a condition of excess soil moisture

for dry crops like bajra or jowar.

iv. Soil Moisture Drought:

This is a situation of inadequate soil moisture particularly in rainfed

areas which may not support crop growth. This happens in the event

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of a meteorological drought when the water supply to soil is less and

water loss by evaporation is more.

v. Socio-Economic Drought:

It reflects the reduction of availability of food and income loss on

account of crop failures endangering food and social security of the

people in the affected areas.

vi. Famine:

A famine occurs when large scale collapse of access to food occurs

which, without intervention, can lead to mass starvation.

vii. Ecological Drought:

Ecological drought takes place when the productivity of a natural

eco-system fails significantly as a consequence of distress induced

environmental damage.

Definitions from the bill:

i. ‘Aquifer’ means an underground layer saturated rock or

unconsolidated materials including gravel, sand and silt, that is

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capable of providing sufficient water to various types of wells and

such water extraction mechanisms and to springs and seeps;

ii. ‘Base flow’ means that portion of a stream flow that is contributed

by groundwater from an aquifer. In other words, it is the discharge

of groundwater into a stream channel;

iii. ‘Ecological integrity’ means the natural condition of water and

other resources sufficient to ensure proper integration of

biological, chemical and physical aspects of the aquatic and

terrestrial environment;

iv. ‘Environmental flows’ is the quantity, timing, and quality of water

flows required to sustain freshwater and estuarine ecosystems

and the human livelihoods and well-being that depend on these

ecosystems. It also includes the flow regime required to maintain

sediment and nutrient transport from source to sea. This also

includes water for cultural and religious needs.

v. ‘Rainwater harvesting’ means capturing and conserving rainwater

or retarding run-off through various structures either for the

direct use of the stored waters or for recharging groundwater

aquifers;

vi. ‘Water footprint’ means the total volume of water directly used and

thewater embodied in goods and services used, by an individual or

community or country as a whole, or by an industry or business

in its production or other commercial activity;

vii. Right to Water for Life – Every person has a right to sufficient

quantity of safe water for life within easy reach of the household

regardless of, among others, caste, creed, religion, community,

class, gender, age, disability, economic status, land ownership and

place of residence

Please refer: http://www.thehindu.com/opinion/lead/why-a-

national-water-framework-law/article4280263.ece

Drought Affected Areas in India:

Out of the total geographical area of India, almost one-sixth area with

12% of the population is drought prone; the areas that receive an annual

rainfall up to 60 cm are the most prone. A drought prone area is defined

as one in which the probability of a drought year is greater than 20%. A

chronic drought prone area is one in which the probability of a drought

year is greater than 40%.

Broadly, the drought affected areas in India can be divided into two

tracts. The first tract comprising the desert and the semi-arid regions

covers an area of 0.6 million sq km. It is rectangle shaped area whose

one side extends from Ahmedabad to Kanpur and the other from Kanpur

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to Jullundur. In this region, rainfall is less than 750 mm and at some

places it is even less than 400 mm.

The second tract comprises the dry region lying in the leeside of the

Western Ghats up to a distance of about 300 km from coast. It is known

as the rain shadow area of the Western Ghats; rainfall in this region is

less than 750 mm and is highly erratic.

Outside these two main regions, there are isolated pockets which

experience frequent droughts and are termed as drought prones areas.

They are Coimbatore and Nellai Kottabomman districts in Tamil Nadu,

Saurashtra and Kachchh regions, Janshi, Lalitpur region, Mirzapur

plateau, Kalahandi region, Odisha, Purulia district of Paschim Benga etc.

For Map Point:

1. Extreme dry regions: This comprises of western region of Rajasthan

beyond the Aravallis, Kachchh region of Gujarat, Leh & ladak.

2. Severe dry regions: Eastern parts of Rajasthan, Parts of Gujarat,

Madya Pradesh, leeward side of western ghats, interior regions of

Telangana & AP

3. Moderate drought prone region: UP. Haryana, eastern Maharashtra.

7. Swachh Yug: Gram Panchayats along the Ganga to be made Open

Defecation Free The Ministry of Drinking Water and Sanitation, in partnership with Ministry of Youth Affairs and Sports, and Ministry of Water Resources, River Development and Ganga Rejuvenation, is intensifying support to the five States of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal, to make all villages along the banks of the Ganga Open Defecation Free (ODF). There are 5,169 villages along the river Ganga that fall under 1,651 Gram Panchayats (GPs), 52 districts, and 5 States. The campaign, being a collaborative effort between the Swachh Bharat Mission,

local youth leaders (यवुा) and the Namami Gange project (गगंा) - is being

called ‘Swachh

यगु’, which translates into ‘the age of Swachh’.

The Ministry of Youth Affairs, under the coordination of the Nehru Yuva Kendra Sangathan, is enlisting the support of youth agencies such as the Bharat Scouts and Guides, Nehru Yuva Kendras and National Service Scheme.

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(Ethics) These organizations will be called upon to provide a large number of local youth volunteers to support a behaviour change campaign in the 52 districts under the Swachh Bharat Mission. In addition to the monetary incentive offered by the government under the Swachh Bharat Mission, extensive interpersonal behaviour change communication training will be given to local trainers through a network of virtual classrooms across the 5 Ganga States.

8. President Visits Ghana, Cote d’Ivore and Namibia

Points to focus:

a. Gold Coast- Ghana; Ivory Coast- Cote d’Ivore; Grain Coast- Sierra Leone

and Liberia; Slave Coast- Togo, Benin and Nigeria

b. Namibia- African Nuclear Weapon-Free Zone Treaty (ANWFZT)

The African Nuclear Weapon Free Zone Treaty, also known as the Treaty

of Pelindaba establishes a Nuclear-Weapon-Free Zone in Africa.

The treaty was signed in 1996 and came into effect with the 28th ratification

on 15 July 2009

9. RCEP Data exclusivity is a form of legal monopoly protection for a drug, over and above the patent protections. This is given expressly to compensate for the investment made during clinical trials. It implied that regulators cannot approve a similar drug with similar data for the next five years.

Test data exclusivity refers to protection of clinical test data required to be submitted to a regulatory agency to prove safety and efficacy of a new drug, and prevention of generic drug manufacturers from relying on this data in their own applications.

Patent term extensions are given to compensate the company for delays in processing patent applications. A patent term extension will give another five-year monopoly to the innovator company.

10. Hague code of conduct: India joined the HCOC on 1 June 2016

Points to focus:

a. it is a voluntary legally non-binding body

b. it is against ballistic missile proliferation

c. Israel, Syria, Lebanon, Saudi Arabia, Iran, Pakistan, Bhutan, Nepal, Sri

Lanka, Bangladesh, Myanmar, Laos, Vietnam, Thailand, Malaysia,

Indonesia, PR China, North Korea are not members

d. It was established on 25 November 2002

11. Missile Technology control Regime

Points to focus:

a. Partnership of 35 countries, which is an informal and voluntary partnership

b. it prevents proliferation of missile and Unmanned aerial vehicle technology

capable of carrying above 500 kg payload for more than 300 km

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c. MTCR was started by G7

d. The annex is divided into two separate groupings of items, Category I and

Category II. Category I includes complete missiles and rockets, major sub-

systems, and production facilities. Specialized materials, technologies,

propellants, and sub-components for missiles and rockets comprise

Category II. e. The MTCR identifies five factors that members should take into account

when evaluating a possible export of controlled items: i. Whether the intended recipient is pursuing or has ambitions for

acquiring weapons of mass destruction; ii. The purposes and capabilities of the intended recipient's missile and

space programs; iii. The potential contribution the proposed transfer could make to the

intended recipient's development of delivery systems for weapons of mass destruction;

iv. The credibility of the intended recipient's stated purpose for the purchase; and

v. whether the potential transfer conflicts with any multilateral treaty.

f. MTCR members are asked to obtain an assurance from the intended

recipient that it will only use the export for the purpose claimed when

requesting the deal. Members are also to secure a pledge from the intended

recipient that it will not transfer the requested item or any replicas or

derivatives to a third party without permission.

g. Because the regime is voluntary and the decision to export is the sole

responsibility of each member, the MTCR has no penalties for transfers of

controlled items. However, U.S. law mandates that Washington sanction

entities-individuals, companies, or governments (whether they are MTCR

members or not)-exporting MTCR-controlled items to certain countries

identified as proliferators or potential threats to U.S. security.

h. Also read: (for Mains) http://thewire.in/41725/what-the-mtcr-

membership-means-for-india-and-what-it-doesnt/

12. Karnala Bird Sanctuary:

It is located in Panvel, Raigad district, Maharashtra

Three rare species- ashy minivet, three toed kingfisher and Malabar

trogan

13. Joint Exercises with Armed forces for Disaster preparedness

Exercise Jalrahat- Assam and armed forces

Exercise Prakampana- Vishakapatnam (between Indian Navy and AP)

Exercise Sahayata- Bhuj, Gujarat with Air Force

14. Extinction: Melomys rubicola, a small rat-like animal, is considered to be the first mammal to get extinct

15. Nihali Language:

Points to focus:

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a. The languages in India can be grouped into Indo-Aryan, Dravidian, Tibeto-

Burman, Austro-Asiatic or Andaman language families but Nihali is said to

be a ‘language isolate’.

b. It is traced to the pre-Aryan and pre-Munda period. c. As per UNESCO there are 197 endangered languages in India, with 42

classified as Critically Endangered. Included in the list is Nihali Language. d. It is near Maharashtra and Madhya Pradesh border

16. Near threatened species discovered from Satpura Tiger Reserve, MP

rarest Indian mammal, usually found in Europe, Africa and Asia

17. Carbfix Project: A primary goal of the CarbFix project is to imitate the

natural storage process of CO2 already observed in basaltic rocks in Icelandic

geothermal fields.

The project’s implications for the fight against global warming may be

considerable, since basaltic bedrock susceptive of CO2 injections are

widely found on the planet.

Carbonated water is injected into the rocks so that it reacts with

Calcium, Magnesium or Silicate material present in Basaltic rocks. This

is called enhanced weathering.

18. National Disaster management Plan:

It aims to make India disaster resilient and significantly reduce the loss of lives

and assets. The plan is based on the four priority themes of the “Sendai

Framework,” namely: understanding disaster risk, improving disaster risk

governance, investing in disaster risk reduction (through structural and non-

structural measures) and disaster preparedness, early warning and building

back better in the aftermath of a disaster.

Salient Features of the Plan

The plan covers all phases of disaster management: prevention, mitigation,

response and recovery. It provides for horizontal and vertical integration among

all the agencies and departments of the Government. The plan also spells out

the roles and responsibilities of all levels of Government right up to Panchayat

and Urban Local Body level in a matrix format. The plan has a regional

approach, which will be beneficial not only for disaster management but also for

development planning.

It is designed in such a way that it can be implemented in a scalable manner in

all phases of disaster management. It also identifies major activities such as

early warning, information dissemination, medical care, fuel, transportation,

search and rescue, evacuation, etc. to serve as a checklist for agencies

responding to a disaster. It also provides a generalized framework for recovery

and offers flexibility to assess a situation and build back better.

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To prepare communities to cope with disasters, it emphasizes on a greater need

for Information, Education and Communication activities.

19. WEF- Global gender Gap report

20. World Investment Report- UNCTAD

21. Gyps species- also called Indian vulture, Long-billed, slender billed vulture- Critically endangered

Himalayan Griffon; closely related to Indian Gyps- not endangered; only Near Threatened

Red-Headed Vulture- Critically endangered

Egyptian Vulture- Endangered as per IUCN

22. ISRO

Points to focus:

a. 20 satellites- In its thirty sixth flight (PSLV-C34), ISRO's Polar Satellite Launch

Vehicle successfully launched the 727.5 kg Cartosat-2 Series Satellite along

with 19 co-passenger satellites

This is the thirty fifth consecutively successful mission of PSLV and the

fourteenth in its 'XL' configuration. The total weight of all the 20

satellites carried on-board PSLV-C34 was 1288 kg.

The imagery sent by the Cartosat-2 series satellite will be useful for

cartographic applications, urban and rural applications, coastal land use

and regulation, utility management like road network monitoring, water

distribution, creation of land use maps, precision study, change

detection to bring out geographical and manmade features and various

other Land Information System (LIS) and Geographical Information

System (GIS) applications.

Of the 19 co-passenger satellites carried by PSLV-C34, two –

SATHYABAMASAT weighing 1.5 kg and SWAYAM weighing 1 kg – are

University/Academic institute satellites and were built with the

involvement of students from Sathyabama University, Chennai and

College Of Engineering, Pune, respectively.

The remaining 17 co-passenger satellites were international customer

satellites from Canada (2), Germany (1), Indonesia (1) and the United

States (13).

With today’s successful launch, the total number of satellites launched

by India’s workhorse launch vehicle PSLV has reached 113, of which 39

are Indian and the remaining 74 from abroad.

b. CASPOL- a ceramic polymer hybrid have been developed by Vikram Sarabhai

Space centre to protect the rockets from high temperature and ignition during

their initial moments of launch.

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It can be used to protect public transport system and poor people staying in

thatched houses.

23. Bionic Leaf: turns sunlight into liquid fuel

24. Potassium Bromate and Potassium Iodate used in baking industry is

said to be carcinogenic

25. India gets contract to mine sea bed for mineral resources:

The International Seabed Authority: under the United Nations

Convention on Law of the Sea (UNCLOS), governs non-living resources of

the seabed of international waters

The Authority operates by contracting with private and public

corporations and other entities authorizing them to explore, and

eventually exploit, specified areas on the deep seabed for mineral

resources essential for building most technological products.

The Convention also established a body called the Enterprise which is to

serve as the Authority’s own mining operator, but no concrete steps have

been taken to bring this into being.

In 2002, the government was granted permission only to explore ocean regions and prospect for precious metals.

Deep seabed polymetallic sulphides (PMS) contain iron, copper, zinc, silver, gold and platinum in variable constitutions and are precipitates of hot fluids from upwelling hot magma from the deep interior of the oceanic crust.

26. Vidyanjali Scheme: voluntary teacher recruitment without specific

qualifications.

(for Pradhan mantra schemes:

http://www.pradhanmantriyojana.co.in/vidyanjali-yojana/ )

27. National Highways Grid:

The National Highway Authority of India is proposing a ‘National Highway Grid.’ The grid will include 27 horizontal and vertical highway corridors spread across the country. The corridors, that will crisscross and connect with each other, will be spaced at a distance of 250 kilometres.

The grid will connect 12 major ports, 26 state capitals and more than 45 cities.

It is expected to be 36,000 kms long.

New numbering:

The logic behind numbering is as follows:

All North-South highways will carry EVEN number

All East-West highways will have ODD numbers

All major Highways will be single digit or double digit in number (Read the

exception in point F)

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North-South highways will increase their numbers from East to West. For

example, a particular North-South highway in Central India or Western India

will have a higher number than the one in East India. To be specific, now you

can guess that NH4 is somewhere in East India where as highway 44 may be

towards the west of India while both runs north-south due to the even

numbering

Similarly East-West highways will increase their numbers as we movefrom

North to South. By this logic NH1 will be running East-West somewhere in

North India while NH 83 may be somewhere down south. Of course, there may

be a minor confusion among some roads that may be running diagonally in

stretches

THREE digit numbered highways are secondary routes or branchesof a main

highway. For example, 144, 244, 344 etc will be the branches of the main

National highway 44. Please note that since NH44 (NS Corridor) runs the length

of the country from North to South a side shoot say 144 may be up north while

something like 944 may be down south

Suffixes A, B, C, D etc are added to the three-digit sub highways to indicate

very small spin-offs or stretches of sub-highways. For example,966A, 527B etc

28. National Mineral exploration policy:

29. NMEP has the following main features for facilitating exploration in the

country:-

i. The Ministry of Mines will carry out auctioning of identified exploration

blocks for exploration by private sector on revenue sharing basis in case

their exploration leads to auctionable resources. The revenue will be borne

by the successful bidder of those auctionable blocks.

ii. If the explorer agencies do not discover any auctionable resources, their

exploration expenditure will be reimbursed on normative cost basis.

iii. Creation of baseline geoscientific data as a public good for open

dissemination free of charge.

iv. Government will carry out a National Aerogeophysical Program for

acquiring state-of-the-art baseline data for targeting concealed mineral

deposits.

v. A National Geoscientific Data Repository is proposed to be set up to

collate all baseline and mineral exploration information generated by

various central & state government agencies and also mineral concession

holders and to maintain these on geospatial database.

vi. Government proposes to establish a not-for-profit autonomous

institution that will be known as the National Centre for Mineral

Targeting (NCMT) in collaboration with scientific and research bodies,

universities and industry for scientific and technological research to

address the mineral exploration challenges in the country.

vii. Provisions for inviting private investment in exploration through

attractive revenue sharing models.

viii. On the lines of UNCOVER project of Australia, the government intends to

launch a special initiative to probe deep-seated/ concealed minerals

Page 14: CURRENT AFFAIRS JUNE 2016 - Amazon Web Services · PDF fileThe major causes of meteorological drought may be summed up as under: (i) Lean monsoon and below average rainfall due to

CURRENT AFFAIRS – JUNE 2016

BYJU’s Classes 9980837187

deposits in the country in collaboration with National Geophysical

Research Institute and the proposed NCMT and Geoscience Australia.

30. Peer to Peer lending (P2P lending)

Peer-to-peer lending is the practice of lending money to individuals or

businesses through online services that match lenders directly with

borrowers.

Since the peer-to-peer lending companies offering these services operate

entirely online, they can run with lower overhead and provide the service

more cheaply than traditional financial institutions.

As a result, lenders often earn higher returns compared

to savings and investment products offered by banks, while borrowers

can borrow money at lower interest rates, even after the P2P lending

company has taken a fee for providing the match-making platform

and credit checking the borrower.

Also known as crowdlending, many peer-to-peer loans are unsecured

personal loans, though some of the largest amounts are lent to

businesses. Secured loans are sometimes offered by using luxury assets

such as jewelry, watches, vintage cars, fine art, buildings, aircraft and

other business assets as collateral.

31. Payment Banks:

Post office is set to become payment bank

They do not provide all the services and their main objective is to help people get easy access to open bank accounts

The promoters should invest atleast 40% to initial equity capital

The banks can accept deposits up to 1 lakh

These banks don’t give loans and earn through deposits in Government bonds

32. Shanghai Co-operation organization:

India and Pakistan has signed to become full members; their membership will be finalized in Astana in 2017

First it was Shanghai five without Uzbekistan and in 2001, it became SCO with Uzbekistan

Apart from Turkmenistan all other central Asian countries are part of SCO

Afghanistan and Iran are observer countries where as Nepal and Sri Lanka are Dialogue partners

33. NSG and Brexit: Webinar Lecture