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Daily News Analysis 18-07-2014

DATE : 18-07-14

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.

 

India to host next IBSA summit

a)     I.R

a)     IBSA

b)     BRICS

c)     Brasilia Declaration

a)     On the sidelines of BRICS summit, it was announced that India will host the 7th IBSA in 2015. It will be the 3rd time New Delhi will be hosting since it started in 2006.

b)     IBSA is a trilateral initiative between India, Brazil and South Africa to promote South-South cooperation and exchange. The platform was announced in Brasilia in 2003, through the adoption of Brasilia Declaration.

c)     The IBSA summit involves consultations at the heads of state-level while meetings between Ministers and officials are held at the Trilateral Joint Commission and Focal Point levels respectively.

2.

Modi for closer ties with Latin America

a)     I.R

a)     BRICS

b)     G77

c)     MERCOSUR

d)     EU

e)     NAFTA

f)     PTA

a)     He said India would extend its space capabilities for weather forecasting, resource mapping and disaster management in the Latin American region.

b)     Further stressed the need for more effective utilisation of the Preferential Trade Agreements between India and the MERCOSUR and between India and Chile.

c)     MERCOSUR comprising Brazil, Argentina, Uruguay and Paraguay was formed in 1991 to facilitate free movement of goods, services, capital and people among the four member countries and is the largest integrated market after the European Union(EU) and the North American Free Trade Agreement(NAFTA).

d)     India and MERCOSUR had signed a PTA in 2004 offering reciprocal tariff preferences to each other with the ultimate objective of creating a free trade area.

3.

U.S, EU cannot be trusted on Bali package

a)     I.R

a)     Bali package

b)     G20 summit

c)     TFA

a)     Indian counterpart likely to meet at G20 summit in an attempt to find a solution to the blocked Bali Deal negotiations.

b)     He said the payments from developed countries to aid the execution of the TFA itself  is the interim solution for Indias food subsidies.

c)     India wants the Bali Package to be delivered in whole.

4.

RBI sets 100 crore floor capital for payments and small banks

a)     Economy

a)     RBI

b)     Banking Regulation Act 1949

c)     SLR

d)     CRR

e)     PSL

a)     RBI has set a minimum paid-up capital of 100 crore for those who wish to set up payments and small banks.

b)     The Payments bank has to comply with the SLR and CRR requirements.

c)     The Small Bank has to comply with CRR, SLR and also Priority Sector Lending(PSL) targets.

d)     Existing NBFCs, micro finance institutions and local area banks can also choose for conversion into small banks after complying with all legal and regulatory requirements.

5.

Poor healthcare ups private spending

a)     Economy

b)     Health

a)     NHP

b)     GDP

a)     National Health Profile 2013 reveals that per capita private expenditure on health is 3 to 4 times higher than per capita public expenditure in all major States excluding some Northeastern States and Jammu and Kashmir.

b)     The report by the Central Bureau of Health Intelligence under the Ministry of Health and Family Welfare says the expenditure on health has gone down from 4.3 percent of GDP in 2000 to 3.7 percent in 2010.

         

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