Current Affairs for Engineering Service Exam
- National and International Issues on
- Economic Development
- Social Development
- Industrial Development
- Energy and Environment
- Information and Communication Technology
- General Knowledge
Topic 1:Economic development
The Companies (Amendment) Ordinance, 2018
The Companies (Amendment) Ordinance, 2018 was promulgated on November 2, 2018. It amends several provisions in the Companies Act, 2013 relating to penalties, among others.
- Issue of shares at a discount:
- It remove imprisonment for officers as a punishment in case a company from issuing shares at a discount.
- Further, the company and every officer in default will be liable to pay a penalty equal to the amount raised by the issue of shares at a discount or five lakh rupees, whichever is lower.
- The company will also be liable to refund the money received with interest at 12% per annum from the date of issue of the shares.
- Commencement of business: The Ordinance states that a company may not commence business, unless it
- files a declaration within 180 days of incorporation, confirming that every subscriber to the Memorandum of the company has paid the value of shares agreed to be taken by him, and
- files a verification of its registered office address with the Registrar of Companies within 30 days of incorporation.
- If a company fails to comply with these provisions and is found not to be carrying out any business, the name of the Company may be removed from the Register of Companies.
- Registration of charge:
- The Registrar may permit the registration within 300 days of creation.
- If the registration is not completed within 300 days, the company is required to seek extension of time from the central government.
- Change in approving authority:
- The power to change in period of financial year for a company associated with a foreign company have been transferred to central government from National Company Law Tribunal.
- Declaration of beneficial ownership:
- If a person holds beneficial interest of at least 25% shares in a company or exercises significant influence or control over the company, he is required to make a declaration of his interest, such person may either be fined, or imprisoned for up to one year, or both.
- Remuneration for independent directors:
- The Ordinance removes he restriction on an independent director from entitlement to stock options. It further states that he may receive sitting fees, commission, and reimbursement of expenses.
- Disqualification of directorship:
- A person cannot be a director in more than 20 companies.
- Adjudication of penalties:
- The central government to appoint adjudicating officers to decide penalties and may direct the defaulting entity to rectify the default.
- A regional director can compound (settle) offences with a penalty of up to twenty five lakh rupees.
- Repeat defaulters:
- If a company, or an officer, or other person commits a default again within three years of the previous case, the entity will be liable to twice the penalty as provided for such default.
Read more at: prsindia
Unified Payments Interface (UPI)
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.
- It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
- Each Bank provides its own UPI App for Android, Windows and iOS mobile platform(s).
How to get it?
- Bank a/c
- Mobile number should be linked with bank a/c
- Smart Phone with internet facility
- Debit Card for re-setting MPIN.
- Download the App for UPI
- Do registration online on the App with a/c details
- Create a virtual ID
- Set MPIN
- 5-7 minutes
What is required for Transaction?
- Smartphone with internet facility
- Registered device only
- Use registered MPIN
- Self Service Mode
- Balance Enquiry
- Transaction History
- Send / Pay Money
- Collect Money
- Add bank account
- Change / Set MPIN
- A/c Management
Funds Transfer limit:
Read more at: livemint
Topic 2 : Environment
Renukaji dam project
The Central Government has inked an Agreement with chief ministers of six states of Haryana, Uttarakhand, Himachal Pradesh, Delhi, Uttar Pradesh and Rajasthan for the construction of Renukaji multi-purpose dam project on Giri River, a tributary river of Yamuna in in the Upper Yamuna Basin.
- The project envisages making a 148-metre-high dam for supplying water to Delhi and other basin States. It will also generate 40 MW of power
- After the construction of the dam, the flow of the Giri river will increase by about 110%, which will help meet the drinking water needs of Delhi and other basin States.
Read more at: TOI
Iran is witnessing revival of Lake Urmia which is one of the worst ecological disasters of recent decades.
- It is situated in the mountains of northwest Iran and is fed by 13 rivers.
- The lake is a saltwater lake.
- It is designated as a site of international importance under the UN Convention on Wetlands.
- According to the UN Environment Program, the lake has been shrinking since 1995, due to a combination of prolonged drought, over-farming and dams.
- The shrinking has threatened the habitat of shrimp, flamingos, deers and wild sheep and caused salt storms that pollute nearby cities and farms.
Read more at: The Hindu
Heat trapped by greenhouse gases is raising ocean temperatures faster than previously thought, according to a new research.
- Ocean heating is estimated 93 per cent of the excess solar energy trapped by greenhouse gases accumulates in the world’s oceans.
- The Coupled Model Intercomparison Project 5 (CMIP5) models predict that the temperature of the top 2,000 metres of the world’s oceans will rise 0.78 degrees Celsius by the end of the century.
- The thermal expansion caused by this bump in temperature would raise sea levels 30 centimeters on top of the already significant sea level rise caused by melting glaciers and ice sheets.
- A fleet of nearly 4,000 floating robots drift throughout the world’s oceans, every few days diving to a depth of 2,000 metres and measuring the ocean’s temperature, pH, salinity and other bits of information as they rise back up.
- This ocean-monitoring battalion, called Argo, has provided consistent and widespread data on ocean heat content since the mid-2000s.
- Warmer oceans also contribute to stronger storms, hurricanes and extreme precipitation.
- CMIP5 is meant to provide a framework for coordinated climate change experiments for the next five years and thus includes simulations for assessment in the AR5 as well as others that extend beyond the Intergovernmental Panel on Climate Change Assessment Report (IPCC AR5).
- CMIP5 promotes a standard set of model simulations in order to:
- evaluate how realistic the models are in simulating the recent past,
- provide projections of future climate change on two time scales, near term (out to about 2035) and long term (out to 2100 and beyond), and
- understand some of the factors responsible for differences in model projections, including quantifying some key feedbacks such as those involving clouds and the carbon cycle.
Read more at: ET