October 4,2018

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October 4, 2018
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October 5, 2018

Current Affairs for Engineering Service Exam

Video Lectures and Test Series for ESE 2019

 Topics list:

  1. National and International Issues on
    1. Economic Development
    2. Social Development
    3. Industrial Development
  2. Energy and Environment
    1. Energy
    2. Environment
  3. Information and Communication Technology
    1. Technology
    2. Application
  4. The Key Initiatives of Government
  5. General Knowledge

Topic 1:Economic development

BSE to launch commodity derivatives contract in gold and silver

The Bombay Stock Exchange became the first stock exchange in the country to launch commodity derivatives contract in gold and silver.

Highlights:

  • Till date, commodity derivatives contract are available only on MCX and NCDEX, the two specialised commodity derivatives exchanges in the country.
  • The launch will help in efficient price discovery, reduce timeline and make it cost-effective.
  • It promises a user-friendly platform with robust risk management system and wider market penetration
  • The exchange waived off transaction charges for the first year in the commodity derivatives segment

About derivative:

  • A derivative is a contract between two parties which derives its value/price from an underlying asset.
  • The value of the underlying asset is bound to change as the value of the underlying assets keep changing continuously. Generally stocks, bonds, currency, commodities and interest rates form the underlying asset.
  • The most common types of derivatives are futures, options, forwards and swaps.

About BSE:

  • The Bombay Stock Exchange (BSE) is an Indian stock exchange located at Dalal Street, Mumbai.
  • It is Asia’s first stock exchange.
  • It claims to be the world’s fastest stock exchange, with a median trade speed of 6 microseconds

Read more at: The Hindu

Topic 1:Social development

Swachh Survekshan Grameen Awards 2018

The awards given at the concluding session of Mahatma Gandhi International Sanitation Convention.

Highlights:

  • Haryana was ranked as the best State
  • Satara District of Maharashtra was ranked as the best district
  • Uttar Pradesh was rewarded for maximum citizens’ participation
  • Ranking was done based on a comprehensive set of parameters including surveys of public places like schools, Anganwadis, PHCs, Haat/ Bazaars, Panchayat and citizen’s perception of Swachhata and their recommendations for improvement of the program and data from the SBM-G IMIS.
  • The Ministry of Drinking Water and Sanitation had commissioned “Swachh Survekshan Grameen-2018” (SSG 2018) through an independent survey agency to develop ranking of all districts of India on the basis of quantitative and qualitative sanitation (Swachhata) parameters.
  • Top 3 States-1) Haryana, 2) Gujarat 3) Maharashtra
  • Top 3 Districts 1) Satara, Maharashtra 2) Rewari, Haryana 3) Pedapalli, Telangana
  • States with maximum citizen participation 1) Uttar Pradesh 2) Gujarat 3) Maharashtra
  • Districts with maximum citizens’ participation 1) Nashik, Maharashtra 2) Solapur, Maharashtra 3) Chittorgarh, Rajasthan

Read more at: PIB

Global Skills Park

Asian Development Bank (ADB) and the Government of India signed Loan Agreement to establish a Global Skills Park (GSP) in Madhya Pradesh, the First Multi-Skills Park in India.

Highlights:

  • To support advanced training at the GSP who will bring global best practices in TVET management, training infrastructure, industry cooperation, and quality assurance.
  • Create a more skilled workforce.

GSP campus:

  • The new GSP campus, which will be established in Bhopal will consist of core Advanced Training Institutes including the Center for Occupational Skills Acquisition and the Center for Advanced Agricultural Training
  • Focusing on entrepreneurship, training of trainers, and skill-related research.
  • The Project will also help in modernizing 10 industrial training institutes across the state by renovating training infrastructure and upgrading skills courses to align with industry and market needs.

Read more at: PIB

Topic 1:Industrial development

Udyam Abhilash

Small Industries Development Bank of India (SIDBI), had launched a National Level Entrepreneurship Awareness Campaign, Udyam Abhilasha.

Highlights:

  • The campaign would create and strengthen cadre of more than 800 trainers
  • To provide entrepreneurship training to the aspiring youths across these districts thus encouraging them to enter the admired segment of entrepreneurs.
  • To inspire rural youth in aspirational districts to be entrepreneurs by assisting them to set up their own enterprise
  • To impart trainings through digital medium across the country
  • To create business opportunities for CSC VLEs
  • To focus on women aspirants in these aspirational districts to encourage women entrepreneurship
  • To assist participants to become bankable and avail credit facility from banks to set up their own enterprise.

About SIDBI:

  • Small Industries Development Bank of India (SIDBI), is the Principal Financial Institution for the Promotion, Financing, Development and Coordination of the Micro, Small and Medium Enterprise (MSME) sector
  • SIDBI meets the financial and developmental needs of the MSME sector with a Credit+ approach to make it strong, vibrant and globally competitive.
  • SIDBI, under its revamped strategy SIDBI 2.0, has adopted the theme of ease of access to MSEs and being Impact Multiplier & Digital Aggregator.

Read more at: PIB

Topic 2 : Environment

Threats to lions

Since September 12, 23 lions have died in Gujarat. The Gujarat government launched not only rescue efforts but also called experts from outside and imported a vaccine from the United States.

Reasons:

  • Infighting for territorial domination
  • Outbreak of Canine Distemper Virus (CDV)
  • Babesiosis infection

About Asiatic Lions:

  • The Asiatic lion is a Panthera leo leo population in India.
  • Its range is restricted to the Gir Forest National Park and environs in the Indian state of Gujarat.
  • the IUCN Red List it is listed as Endangered because of its small size and area of occupancy

Read more at: The Hindu

Topic 2 : Energy

ECB norms for oil firms eased

The Reserve Bank of India liberalised the norms for oil marketing companies (OMCs) to raise funds through external commercial borrowings (ECB).

Highlights:

  • Oil companies can raise ECBs for working capital with a minimum average maturity of three to five years under the automatic route.
  • The individual limit of $750 million or equivalent and mandatory hedging requirements as per the ECB framework have also been waived for borrowings.The overall ceiling for such ECBs is capped at $10 billion.
  • OMCs should have a Board approved forex mark to market procedure and prudent risk management policy, for such ECBs

Benefits:

  • The move will help in broadening the basket of borrowing sources for working capital.
  • The mandatory hedging will make loans cheaper
  • Give it flexibility to hedge prudently based on market conditions.
  • Remove the concern and pressures of bunching of repayments

Read more at: The Hindu

Topic 3 : ICT

Digi Yatra

The Ministry of Civil Aviation released the policy on biometric based digital processing of passengers at airports called “Digi Yatra”.

Highlights:

  • It is biometrics-based digital processing system for passenger entry and related requirements at the airport.
  • To ensure uniform implementation and passenger experience across Indian airports through a connected ecosystem.
  • DigiYatra Central Platform will be operational by end of February, 2019, at Bangalore & Hyderabad International Airports on pilot basis.
  • To provide a seamless experience right from the entry to the airport upto boarding the aircraft
  • Travellers will be able to enter airports in the country with facial recognition biometric
  • To promote paperless and hassle-free air travel

Read more at: TOI

Topic 4: The Key Initiatives of Government

Pradhan Mantri Suraksha Bima Yojana (PMJJBY)

  • It is aimed at providing accidental insurance cover at an highly affordable premium of Rs.12 per year.
  • The Scheme will be available to people in the age group 18 to 70 years with a savings bank account who give their consent to join and enable auto-debit on an annual renewal basis.
  • The risk coverage available will be Rs. 2 lakh for accidental death and permanent total disability and Rs. 1 lakh for permanent partial disability.
  • It is offered by Public Sector General Insurance Companies or any other General Insurance Company who are willing to offer the product on similar terms.
  • Individuals can exit and re-join the scheme subjecting to conditions.   
  • It has simplified procedures and the documentary requirements
  • It serves the goal of financial inclusion by achieving penetration of insurance down to the weaker sections of the society, ensuring their or their family‘s financial security, which otherwise gets pulled to the ground in case of any unexpected and unfortunate accident

Google Tax

  • The Google Tax was announced to introduce a tax on the income as accrue to a foreign e-commerce company outside of India.
  • Any person or entity that makes a payment exceeding Rs 1 lakh in a financial year to a non-resident technology company will need to withhold 6% tax on the gross amount being paid as an equalisation levy or Google tax.
  • This tax, however, is only applicable when the payment has been made to avail certain B2B services from these technology companies.

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