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Daily News Analysis 09-08-2015

S.NO.

NEWS ITEM

SYLLUBUS

ESSENCE OF THE ARTICLE

1.         

 

Over half-a-dozen men under NIA scanner (Page 12)

a)     I.R

a)     Over half-a-dozen people in the Kashmir Valley are under the scanner of the National Investigation Agency for suspected links with the alleged Pakistani LeT terrorist, who was arrested following an attack on a Border Security Force convoy in Udhampur.

2.

Time has come to make a woman UN chief (Pg 12)

a)     International

a)     Irina Bokova (the woman who could become the first female UN chief) says that (at 70) it is about time the United Nations has a woman Secretary General.

3.

Obama takes on pro-Israel group over Iran deal (Page 14)

a)     International

a)     US President Obama had a tough message for the American Israel Public Affairs Committee (the powerful pro-Israel group that is furiously campaigning against the Iran nuclear accord), when he met with two of its leaders at the White House this week.

4.

Japans nuclear industry set for revival (Page 14)

a)     International

a)     Japan is preparing to restart its fleet of mothballed nuclear reactors under a new safety regime introduced in the wake of the 2011 Fukushima accident.

5.

Mysuru tops the rankings (Page 13)

a)     National

a)     Mysuru city in Karnataka topped the Swachh Bharat Rankings that were released by the Ministry of Urban Development.

6.

Yakub hanging: 3 channels get show-cause notice (Page 12)

a)     National

b)     Polity

a)   New Delhi unhappy with coverage related to hanging of 1993 Mumbai blasts convict Yakub Memon by three leading news broadcasters, Information and Broadcasting Ministry has issued show-cause notice to them, asking why action should not be taken against them.

7.

P-Notes require more stringent monitoring (Page 15)

a)     Economy

a)     The Special Investigation Team on black money in its third report pointed out to the Supreme Court that the overseas derivative instruments (popularly known as Participatory Notes) were used from destinations such as the Cayman Islands, a tax haven.

8.

NALCO seeks to set up $2.6 b Iran aluminium complex (Page15)

a)     Economy

a)     National Aluminium Co. Ltd. wants to set up an aluminium smelter and an associated power plant in Iran worth as much as $2.6 billion, once sanctions against the country start to be lifted.

9.

ISRO eyes second consecutive success of indigenous GSLV launcher (Page 9)

a)     S&T

a)     Towards this month-end, ISRO hopes to realise its second consecutive success with the indigenous GSLV launcher boosted by its Indian cryogenic third stage. The upcoming GSLV-D6 is the ninth in the series of the indigenous medium-lift satellite launch vehicle.

 

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.         

 

Over half-a-dozen men under NIA scanner (Page 12)

a)     I.R

a)     India – Pakistan relations

b)     Border disputes

c)     LoC

d)     Border Security Force (BSF)

e)     Terrorism

f)     Lashkar-e-Taiba (LeT)

g)     Jaish-e-Mohammad (JeM)

h)     National Investigation Agency (NIA)

i)     Global Positioning System (GPS)

 

a)     Over half-a-dozen people in the Kashmir Valley are under scanner of NIA for suspected links with the alleged Pakistani LeT terrorist, who was arrested following an attack on a BSF convoy in Udhampur.

b)     In coordination with the J&K police, the NIA has launched a hunt for the locals who are suspected to have extended logistical support to the LeT module. Among them is a contact in Srinagar who provided financial support to an accomplice of the arrested militant Naved.

c)     During interrogation, Naved has purportedly disclosed that he met about a dozen terrorists during his stay in the Valley. They used GPS location trackers and maps.

2.

Time has come to make a woman UN chief (Page 12)

a)     International

a)     United Nations Secretary General  

b)     UNSC

c)     UNESCO

d)     Sustainable Development Goals (SDGs) for 2030

 

a)     Irina Bokova (the woman who could become first female UN chief) says that (at 70) it is about time the United Nations has a woman Secretary General.

b)     She said that her current focus was on reforming UN systems, as well as dealing with the political challenges for the world, youth radicalisation and extremism, and destruction of heritage by IS and other groups.

c)     She said the UN has just adopted a strong commitment to gender equality and womens empowerment in the SDGs for 2030 and how better to show that commitment than to have a woman to lead the mission.

d)     Diplomats say India would also want the next UNSG to commit oneself to UN reform, especially the expansion of the UNSC. India has been pursuing a permanent seat on Council.

3.

Obama takes on pro-Israel group over Iran deal (Page 14)

a)     International

a)     Iran – P5+1 nuclear deal

b)     American Israel Public Affairs Committee (AIPAC)

a)     US President Obama had a tough message for the AIPAC (the powerful pro-Israel group that is furiously campaigning against the Iran nuclear accord), when he met with two of its leaders at the White House this week.

b)     The remarks reflected an unusually sharp rupture between a sitting US President and the most potent pro-Israel lobbying group, which was founded in 1951 a few years after the birth of Israel.

c)     But the tone of the current dispute is raising concerns among some of Obamas allies who say it is a new low in relations between AIPAC and the White House. They say they are worried that, in working to counter AIPACs plans and discredit its claims about the nuclear accord with Iran, the President has gone overboard in criticising the group and like-minded opponents of the deal.

4.

Japans nuclear industry set for revival (Page 14)

a)     International

a)     Japans nuclear reactor

b)     Fukushima disaster 2011

a)     Japan is preparing to restart its fleet of mothballed nuclear reactors under a new safety regime introduced in the wake of the 2011 Fukushima accident. Some 24 out of Japans 43 operable reactors have applied for restart permits.

5.

Mysuru tops the rankings (Page 13)

a)     National

a)     Swachh Bharat Mission

a)     Mysuru city in Karnataka topped the Swachh Bharat Rankings that were released by the Ministry of Urban Development.

b)     In a year-long survey, the researchers studied 476 first tier cities with two parameters: one, how minimal open defecation was in the city; two, how robust the municipalities were with solid waste management system. And Mysuru was found impressive on both the counts.

c)     Launched in Oct 2014 by PM Modi, Swachh Bharat Mission is the flagship sanitation program of the NDA government, which aims to bridge gaps between sewerage and solid waste management and construct several million toilets in the urban centres.

d)     The second position was spotted by Thiruchirapalli in Tamil Nadu, followed by Navi Mumbai, Kochi (Kerala), Hassan, Mandya and Bengaluru from Karnataka, Thiruvananthapuram (Kerala), Halisahar (West Bengal) and Gangtok (Sikkim).

6.

Yakub hanging: 3 channels get show-cause notice (Page 12)

a)     National

b)     Polity

a)     Death penalty

b)     Mercy petition

c)     Mumbai serial blasts case 1993

d)     Sections of the Programme Code

e)     Supreme Court

a)   New Delhi unhappy with coverage related to hanging of 1993 Mumbai blasts convict Yakub Memon by three leading news broadcasters, Information and Broadcasting Ministry has issued show-cause notice to them, asking why action should not be taken against them.

b)     Officials said that sections of Programme Code lay down that no programme should be carried which contains anything obscene, defamatory, deliberate, false and suggestive implications and half-truths.

c)     As per other sections of the Code, no programme should be carried which is likely to encourage or incite violence or contains anything against maintenance of law and order or which promote anti-national attitudes. Another section also tells channels not to carry anything which contains aspersions against the integrity of the President and Judiciary.

7.

P-Notes require more stringent monitoring (Page 15)

a)     Economy

a)     Overseas Derivative Instruments (ODIs) or Participatory Notes (P-Notes)

b)     FIIs

c)     Know-Your-Investor or Know-Your-Client (KYC)

d)     Securities and Exchange Board of India (SEBI)

e)     Foreign Portfolio Investors (FPIs)

f)     Special Investigation Team (SIT)

g)     Cayman Islands

 

a)      Way back in 2005, the then RBI Governor Y.V. Reddy spoke on the need for a view be taken on quantity and quality of FII flows and expressed the need for taxing or capping such flows. Immediately, the then Finance Minister Chidambaram denied any such moves, constraining Reddy to clarify his statement.

b)     The issue again came up for discussion recently as the SIT on black money in its third report pointed out to Supreme Court that the ODIs (popularly known as P-Notes) were used from destinations such as the Cayman Islands, a tax haven.

c)    India allowed FIIs to invest in Indian capital market since 1992. As the KYC norms were applicable for these foreign funds, the FIIs started to issue P-Notes, which helped the beneficiary (end-user) to remain anonymous. P-Notes are ODIs, which have Indian stocks and derivatives as their underlying securities.

d)     As per reports, P-Notes comprise around 15 to 20 percent of total FII investments in the country since 2009. While it held around 25 to 40 percent in 2008, it was as high as 50 percent in 2007.

e)    Concerned with tax evasion through the stock market route and in an effort to control black money, the SIT also suggested to the Govt to obtain details of beneficial ownership or end-user, which should be known to capital market regulator, SEBI.

f)     The investments through P-Notes were legitimised by SEBI in 2002, when D. R. Mehta was the Chairman of the capital market regulator. Now under new FPIs regime (which came into effect from 2014), the regulator had segregated the FIIs into several categories.

g)     The SIT report stated that obtaining information on beneficial ownership of P-Notes is of crucial importance to prevent their misuse. In this, the final beneficial owner of ODIs is known.

h)     P-Notes are giving a varied and secret connotation to investors, especially among the retail and long-term investors in the country. It is the duty of the regulator to remove the doubt in the minds of genuine investors while curbing the black money in the country.

8.

NALCO seeks to set up $2.6 b Iran aluminium complex (Page 15)

a)     Economy

a)     India – Iran trade ties

b)     Iran – P5+1 nuclear deal

c)     Irans nuclear programme

d)     National Aluminium Co. Ltd. (NALCO)

a)     NALCO wants to set up an aluminium smelter and an associated power plant in Iran worth as much as $2.6 billion, once sanctions against the country start to be lifted.

b)  Official said NALCOs plans provide further evidence of how business ties are increasing between the two countries.

c)     India and Iran had maintained a close relationship despite US-led trade restrictions over Irans nuclear programme. Last month, Iran and six world powers reached a nuclear deal, clearing the way for an easing of sanctions on Tehran.

9.

ISRO eyes second consecutive success of indigenous GSLV launcher (Page 9)

a)     S&T

a)     GSLV  

b)     GSLV-D6

c)     INSAT

d)     GISAT

e)     GSAT

f)     ISRO

a)     Towards this month-end, ISRO hopes to realise its second consecutive success with the indigenous GSLV launcher boosted by its Indian cryogenic third stage. The upcoming GSLV-D6 is the ninth in the series of the indigenous medium-lift satellite launch vehicle. It is for now slated to take off on or around August 27 from Sriharikota.

b)     The forthcoming launch will notch a significant milestone in the nations elusive GSLV programme, which was taken up in mid-1990s and tried out for first time in April 2001. The launcher will enable India to put into space two-tonne-class communication satellites from home - rather than on costly Western launchers.

c)     Six early GSLVs (called Mark I) used Russian-made cryo stages. Mark II uses the homegrown cryo stage. Next four or five GSLV launches would be for domestic use: INSAT-3DR and a spare to replace meteorology satellite INSAT-3D; GISAT and its follow-on; and GSAT-6A to replace GSAT-6 after a few years.

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