Highlights |UPSC Exam Current Affairs 05-10-2019
Current Affairs and News (05-10-2019)- The following article contains all the updated events and news for IAS Preparation. Our daily IAS Current Affairs and News cover the most important topics to give precise information to the reader and IAS Aspirants.
- Fourth bi-monthly monetary policy statement, 2019-20
- India’s first e-waste clinic will come up in Bhopal
- ELECTRIC VEHICLE (EV) CHARGING GUIDELINES
- MICROFINANCE
- ChangthangPrahar (assault)
- India-China informal summit
- The Reserve Bank of India (RBI) cut the repo rate
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UPSC Exam Current Affairs 05-10-2019 are followed in the part below:
UPSC Exam Current Affairs and News Analysis ( 05-10-2019 )
Fourth bi-monthly monetary policy statement, 2019-20
Part of: GS Prelims and GS-III- Economy
In News
- Money related Policy Committee (MPC) has chosen to lessen the arrangement repo rate under the liquidity alteration office (LAF) by 25 premise focuses to 5.15 % from 5.40 %
- Subsequently, the invert repo rate under the LAF stands decreased to 4.90 %, and the minor standing office (MSF) rate and the Bank Rate to 5.40 %.
- It additionally reconsidered its development gauge for the current money related pointedly, from 6.9% anticipated in the August strategy to 6.1%. Development gauge for the primary quarter of the following money related year was likewise cut to 7.2% from 7.4%.
About MPC
- MPC is a six-part board of trustees comprised of the Central Government (Section 45ZB of the altered RBI Act, 1934).
- Of these, three individuals are from RBI while three different individuals are named by the Central Government.
- The MPC decides the approach loan fee required to accomplish the expansion target
- Prior to the foundation of the Monetary Policy Committee, an official conclusion on loan costs and so forth would originate from RBI Governor’s work area.
- The majority for the gathering of the MPC is four individuals. Every individual from the MPC has one vote, and in case of equity of votes, the Governor has a second or making choice.
India’s first e-waste clinic will come up in Bhopal
Part of: GS Prelims and Mains GS-III –Environment Conservation
In News
- The Bhopal Municipal Corporation (BMC) and the Central Pollution Control Board (CPCB) have held hands to set up the nation’s first e-squander facility in Bhopalthat would empower isolation, handling, and transfer of waste from both family unit and business units.
- The facility is being imagined in consistence with the Solid Waste Management Rules, 2016
- Electronic waste will be gathered way to-entryway or could be kept legitimately at the facility in return for an expense. The CPCB will give specialized help at the unit
Do You Know?
- It is assessed that 50 million tons of e-waste will be created internationally in 2018. Half of this is close to home gadgets, for example, PCs, screens, cell phones, tablets.
- India is positioned fifth on the planet among top e-squander delivering nations USA, China, Japan, and Germany. The volume of e-squander is developing at an expected 21 percent every year.
- The idea of Extended Producer Responsibility (EPR)– under 2016 E-squander (Management) Rules – commanded makers of electrical and electronic gear to enlist and determined focuses to gather back e-squander created and to guarantee that it is channelized to approved recyclers
ELECTRIC VEHICLE (EV) CHARGING GUIDELINES
Part of: GS Prelims and GS Mains III – Infrastructure
In News
- Association Minister for Power has affirmed alterations in Electric Vehicle Charging Guidelines and Specifications.
- In any event, one Charging Station to be accessible in a network of 3 Km x 3 km in the urban areas and one Charging Station at each 25 Km on the two sides of parkways/streets.
- All Mega Cities and freeways associated with these Mega-Cities to be taken up for inclusion in the first stage, other enormous urban communities to be taken up in the second stage.
- For between city travel, Fast Charging Station to be introduced at each 100 Kms.
- Department of Energy Efficiency (BEE), a statutory body under the Ministry of Power has been selected as the Central Nodal Agency to encourage the establishment of Charging Infrastructure.
MICROFINANCE
Part of: GS Prelims and GS Mains II –Economy
In News
- RBI has chosen to raise as far as possible per borrower from ₹1 lakh to ₹1.25 lakh to empower more borrowers to profit credits from microfinance organizations (MFI)
- RBI has likewise proposed to expand the family pay limit for borrowers of NBFC-MFIs from the present degree of ₹ 1.00 lakh for rustic zones to ₹ 1.25 lakh and from present degree of ₹ 1.60 lakh for urban/semi-urban zones to ₹ 2.00 lakh.
- RBI said the choice was contemplated subsequent to playing the significant pretended by MFIs in conveying credit to those at the base of the monetary pyramid and empower them to assume their doled out job in a developing economy.
- Microfinance foundations (MFIs) are budgetary organizations that give little credits to individuals who don’t have any entrance to banking offices
Miscellaneous
ChangthangPrahar (assault)
- It is an all arms integrated exercise in an “overly high elevation” zone close Chushul in eastern Ladakh, highlighting tanks, big guns weapons, automatons, helicopters, and troops, just as para-drops.
- The activity enveloped work of automated powers with power multipliers coordinating high innovation stages
- Changthang is a level in western and northern Tibet that stretches out into SoutheasternLadakh
- Another significant battle practice called “Him Vijay” will be held by the Army in Arunachal PradeshduringOctober second week, which will see the power testing its new incorporated fight bunches in mountain fighting related to the IAF
(MAINS FOCUS)
INDIA’S FOREIGN RELATION
TOPIC: General Studies 2:
- India and its neighborhood- relations.
- Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
India-China informal summit
Context:
- Prime Minister Narendra Modi and Chinese President Xi Jinping two-day India-China casual summit
- The second casual summit between pioneers of India and China is booked to happen in the beachfront town of Mamallapuram, south of Chennai. (first was Wuhan)
- The summit would occur in the wake of the ongoing India-US bonhomie and developing China-Pakistan association.
Why Mamallapuram?
- Mamallapuram, or Mahabalipuram in Chennai, Tamil Nadu.
- An old notable town and one of two significant port urban areas by the seventh century inside the Pallava realm (Pallavas additionally had exchange relations with the Chinese.)
- Presently UNESCO world legacy site and one of the most visited towns in South India
- Famous for its engineering, broadly respected over the world.
- Wuhan was picked by President Xi Jinping as the scene a year ago to exhibit China’s monetary flexibility and might.
- Mamallapuram is emblematic of India’s ‘delicate force’.
Image: https://cdn.kastatic.org/ka-perseus-images/75a502c2daddead167bd72b120b004c9d47801ed.jpg
Did you know:
- Mamallapuram and the Pallava line are likewise truly applicable, for the most punctual recorded security settlement among China and India (in the mid-eighth century) included a Pallava ruler (Rajasthan, or Narasimha Varma II), from whom the Chinese looked for help to counter Tibet, which had by then risen as a solid force representing a risk to China.
Issue of concern:
- Doklam and the contested outskirt between the two nations stays an issue of concern.
- China and India proceed to contend and have an opposing attitude toward numerous key and civilization issues. Like Asian security, provincial solidness and the job of the U.S. in the district
- The ongoing declaration by India of an “all arms coordinated” work out ‘codenamed Changthang Prahar (ambush)’ in a “too high elevation” zone close Chushul in eastern Ladakh, highlighting tanks, cannons weapons, automatons, helicopters, and troops, just as para-drops, is practically sure to be perused suspiciously by China.
- The reviving of the Advanced Landing Ground at Vijoynagar in Arunachal Pradesh for the utilization of military airplane
- A proposed significant battle work out, in Arunachal Pradesh, in which the new Integrated Battle Groups will be found inactivity
Wuhan summit:
- The principal Informal Summit between Prime Minister Narendra Modi and China’s President Xi Jinping was held in Wuhan in 2018
- The motivation behind the gathering was to trade sees on all-encompassing issues of reciprocal and worldwide significance and to expand their particular dreams and needs for national improvement in the setting of present and future global circumstances.
- Since the Wuhan Summit, little has changed similarly as India-China relations are concerned.
- Political circumstance in Afghanistan falls apart, China, alongside nations like Pakistan, stays more expectation than any other time in recent memory on guaranteeing that India has no task to carry out there.
Aftermath
- Relations among China and the U.S. have strongly disintegrated.
- Dominant part of countries in the West have chilled towards China.
- fortifying of India-Russia ties.
- New triangular relationship between Russia, India, and Japan.
- China’s Belt and Road Initiative (BRI) has likewise gone under expanding assault.
Challenges in China:
- China’s local scene is set apart by uplifted tension
- The economy is undeniably more delicate than in mid-2018, as exemplified by some anxiety exuding from China’s value and money markets
- The decrease in development rates.
- Inward security concerns, for example, distress in Tibet, advances made by radical fanatic gatherings in Xinjiang
- New development in Hong Kong
- The tenacious assault by the U.S. furthermore, President Trump on China’s financial practices, has exasperated this mindset of negativity.
China’s concern:
- India’s relations with the U.S. have accomplished another high.
- Relations with Russia have obtained a crisp measurement, fusing financial matters close by a longstanding military relationship.
- India’s relations with Japan have extraordinarily fortified.
- The Quadrilateral (the U.S., India, Japan, and Australia) has increased another rent of life.
Way forward:
- India needs to continue with the most extreme alert
- India must guarantee that it doesn’t incite China to where it is slanted to enjoy ‘adventurism’.
- China’s endeavors are more than prone to be coordinated towards ‘interruption’, fundamentally focusing on upsetting the key collusions that India has manufactured, or fortified, as of late.
Conclusion:
- With arrangements and appropriate taking care of, the inevitable meet could, then again, give India’s pioneers a practical gauge regarding where India-China relations are going.
Connecting the dots:
- Casual summits have their utilization as trust-building works out. Explain
RBI
TOPIC: General Studies 3:
- Indian Economy and issues identifying with arranging, activation of assets, development, advancement, and work.
The Reserve Bank of India (RBI) cut the repo rate
Context:
- The Reserve Bank of India (RBI) cut the repo rate or key loaning rate by 25 premise focuses while keeping up an accommodative position.
- The turn around the repo rate was decreased to 4.9%.
- This is the fifth sequential rate cut by the summit bank this year, totaling 135 bps.
- The Monetary Policy Committee (MPC) additionally cuts GDP development figures for the current financial year 2019-20 to 6.1% from 6.9% prior.
Highlights of MPC:
- A repo rate slice enables banks to lessen financing costs for buyers and brings down equivalent regularly scheduled payments on home advances, vehicle advances, and individual advances.
- Central banks the world over are extricating money related strategy to counterbalance a worldwide stoppage aggravated by U.S.- China exchange strains
- RBI will investigate agreeable bank guidelines and take it up with the administration
- The RBI has enabled local banks to unreservedly offer outside trade (forex) costs to NRIs
- The proceeding with log jam warrants escalated endeavors to reestablish the development force.
- On the emergency in the Punjab and Maharashtra Cooperative Bank (PMC), the RBI senator said one occurrence can’t be and ought not to be utilized, to sum up, the soundness of the co-usable financial part.
- PCA(Prompt Corrective Action) is an open door for the bank to address itself.
- Offered individuals from general society and all contributors that our financial framework stays sound and stable, there is no explanation behind pointless frenzy.
- RBI has chosen to make a different class of NBFC, viz., Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI).
- It recognized “the negative yield hole has extended further”
Negative output gap:
- A negative yield hole demonstrates a surplus limit in the economy. An extending of this hole implies the business can’t utilize quite a bit of its ability because of poor interest.
What is Prompt Corrective Action?
- To guarantee that banks don’t become bankrupt, RBI has set up some trigger focuses to survey, screen, control and take remedial activities on banks which are frail and disturbed.
- The procedure or instrument under which such moves are made is known as Prompt Corrective Action or PCA.
Present scenario:
- Swelling is well inside the objective offering space to the RBI to concentrate on development
- Raw petroleum costs are back in the safe place, withdrawing from the spike in mid-September, and nourishment costs are anticipated to stay delicate on the rear of a decent storm.
Crux:
- On the off chance that the projection of 6.1% for 2019-20 is to be met, the economy needs to develop by about 7% in the second half which doesn’t look likely.
- The issue is that the national bank can just encourage lower rates and push banks to loan. It can’t drive borrowers to acquire and this is clear from the delicate patterns in credit offtake over the most recent couple of months.
Way forward:
- Late estimates declared by the administration are probably going to help fortify private utilization and spike private venture action, the proceeding with lull warrants strengthened endeavors to reestablish the development energy
Connecting the dots:
Its analysis on the condition of the economy and its viewpoint also has subjectively changed — from being “idealistic” in April to communicating “worries” in August and calling for “escalated endeavors to reestablish the development energy” in October. Validate
(TEST YOUR KNOWLEDGE)
Model questions: (You can now post your answers in the comment section)
Note:
- Featured Comments and comments Up-voted by whataftercollege are the “correct answers”.
Q.1) Changthang Prahar often seen in news is related to which of the following area?
- India-China joint military exercise
- India-Mongolia joint army exercise
- India’s integrated military exercise in Eastern Ladakh
- None of the above
Q.2) Consider the following statements Monetary Policy Committee (MPC)
- The MPC determines the policy interest rate required to achieve the inflation target
- It consists of 5 members out of which three are from RBI and the remaining two are nominated by the Central Government
Which of the statement(s) given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Q.3) Consider the following statements
- India is ranked first in the world with respect to e-waste generation.
- India’s first e-waste clinic will come up in Bangalore to deal with recycling of e-waste
Which of the statement(s) given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
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