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Daily G.K. - Top Stories

23 Aug 2015

INTERNATIONAL AFFAIRS

North and South Korea Resume Crisis Talks

  • North and South Korea resumed top-level talks to avoid a threatened military clash, even as Seoul accused Pyongyang of undermining the process with provocative naval and land deployments.
  • The North is adopting a two-faced stance with the talks going on.
  • A per Analysts, the decision to keep talking is a positive sign, with the presidential Blue House in Seoul saying the two sides would "continue to narrow down differences.
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BUSINESS AND ECONOMY

Shah Panel’s Recommendation on MAT

  • As per Union Minister of State for Finance Jayant Sinha, the A.P. Shah Committee’s recommendation to grant relief to foreign institutional investors (FIIs) on Minimum Alternate Tax (MAT) will be a positive for the market.
  • As per the Shah report, the Minimum Alternate Tax (for the period before April 1, 2015) issue should be resolved quickly, which will be positive for the market.
  • The panel was set up to resolve the dispute between FIIs and the government after notices were served to 68 FIIs by the Income Tax Department demanding Rs. 602 crore as MAT dues.

Foreign Reserves Grow

  • After two weeks of consecutive falls due to plunging gold prices and international currency devaluations, India's foreign exchange (Forex) reserves gained $1.08 billion in the week ended August 14.
  • The reserves for the week under review stood at $354.43 billion after falling by $321.1 million since July 31.
  • The FCA which constitutes the largest component of Forex reserves includes nearly 20-25 percent of non-dollar currencies, securities and bonds bought abroad.
  • The major catalyst for the earlier FCA losses was the devaluation of yuan, intended to boost Chinese exports.
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SPORTS

Aditi Ashok Makes History

  • India’s Aditi Ashok made history becoming the first player from the country to win the Ladies British amateur stroke-play championship here.
  • Aditi had earlier won the St. Rule Trophy at St Andrews in July this year and finished second in the 2015 European Women’s Amateur Championship, also claimed the overall title called ‘The Nicholls Trophy’ as well as the ‘Dinwiddy Trophy’ given for the lowest score by an under-18 player.
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NATIONAL AFFAIRS

Bengal Tops Human Trafficking List

  • The highest number of cases of human trafficking in the country is from West Bengal, which alone accounts for 20 per cent of all reported cases in India.
  • According to the latest data released by the National Crime Records Bureau (NCRB), 5,466 cases of human trafficking were recorded in the country in 2014 of which 1,096 were from West Bengal.
  • Tamil Nadu recorded the second highest number of 509 cases, less than half of what has been registered in West Bengal.
  • Under the category of human trafficking, crimes under Section 370/ 370 A of Indian Penal Code include bringing girls from abroad and procuring, buying and selling girls for prostitution.
  • West Bengal also accounts for the bulk of cases relating to procuring minor girls.
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