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Daily G.K. - Top Stories

30 Jun 2019

INTERNATIONAL AFFAIRS

China Proposes 5G Tie-up

  •  The rift between China and the United States over 5G technology exports to India sharpened, when Chinese President Xi Jinping pitched for a partnership with New Delhi and Moscow for expanding a joint footprint in cyberspace.
  • In his remarks at the Russia-India-China (RIC) trilateral on the sidelines of the G20 summit in Osaka, President Xi urged the three countries, in the presence of Prime Minister Narendra Modi and President Vladimir Putin, to expand cooperation in 5G network, high technology, connectivity, energy and other areas.
  • He also called for reforming the World Trade Organisation (WTO), based on consensus.
  • Analysts say that Mr. Xi's advocacy for a trilateral cyber-partnership follows the Trump administration's campaign to discourage India and other countries from importing Chinese 5G technology, led by Huawei Technologies, the Shenzhen based telecom heavyweight, on security grounds.
  • The 5G technology, can interlink the mobile internet with manufacturing. It is at the heart of the fourth industrial revolution, which would result in factories being run by robots, driverless vehicles and enabling remote surgeries.

UK human Rights Body Wants to Revive Caste Law

  •  The Joint Committee on Human Rights (JCHR) comprising MPs and members of the House of Lords wants the Theresa May government to reconsider its July 2018 decision not to legislate to ban caste-based discrimination, calling it a real issue in the UK.
  • The 1.5 million-strong Indian community was deeply divided on the issue, with influential lobbies denying caste-based discrimination exists, stating that enacting such a law would entrench ideas of caste where none exist, while Dalit and other groups insist it exists.
  • Harriet Harman, JCHR chair, wrote to Penny Mordaunt, minister for women and equalities, insisting that legal prohibition from such racial discrimination is needed to provide real protection. Reviving the debate has been welcomed by the Anti Caste Discrimination Alliance that campaigns for the law.
  • After years of consultations, research and debate inside and outside parliament on the sensitive issue, the May government decided in July 2018 not to legislate but rely on emerging case law in courts to deal with cases of caste-based discrimination.
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BUSINESS AND ECONOMY

Price Waterhouse Steps Down as Auditor

  •  Price Waterhouse & Co. Chartered Accountants LLP (PwC) stepped down as auditor of Eveready Industries India Ltd. (EIIL)
  • In a letter dated June 28, 2019, PwC expressed its inability to continue as auditors of the B.M. Khaitan flagship company.
  • As per Eveready Industries, the decision was based on review of annual continuance process at EIIL.
  • EIIL board approved the appointment of Singhi & Co. Chartered Accountants in the place of PwC.
  • The company, which also suffered rating downgrades, also announced the sale of its tea packet brand to Madhu Jayanti International.

Lenders Approve JSW's Bid for ACCIL

  •  Lenders of Asian Colour Coated Ispat Ltd. (ACCIL) approved the JSW Group's Rs. 1,550-crore bid to acquire the debt-ridden steel firm.
  • ACCIL went into insolvency in July, 2018 after the National Company Law Tribunal (NCLT) admitted an application by State Bank of India (SBI) to initiate the Corporate Insolvency Resolution Process (CIRP) for the company.
  • The Resolution Professional (RP) appointed to carry out the insolvency process was Kuldip Bassi.
  • The total admitted debt in the resolution process was about Rs. 6,500 crore. The committee of creditors approved the bid of JSW Group, with nearly 80% of lenders voting in favour.
  • For approval, a resolution plan needs at least 66% votes in favour.
  • To acquire ACCIL, JSW offered Rs. 1,550 crore, almost all of which would go to financial creditors.
  • SBI, Bank of Baroda and IDBI Bank are the main lenders, along with some other banks and financial institutions.
  • ACCIL is a steel product manufacturing company and has plants near Delhi and Mumbai, with an annual capacity of one million tonnes.

HUL Sets up Council for Digital Transformation

  •  FMCG major Hindustan Unilever Limited (HUL) set up a council for digital transformation.
  • It comprises a cross functional team of leaders, who are designing and landing the agenda of Reimagining HUL.
  • Currently, more than 80 experiments are under way in the business to accelerate HUL's journey in digital transformation.
  • Mr. Mehta spoke about how HUL had created a full-fledged, end-to-end, digital transformation programme that would redefine the ways of working, going forward.
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SPORTS

Anand Draws with Aronian

  •  Viswanathan Anand stayed on the recovery-course after a 41-move draw with Levon Aronian in the third round of the Croatia Grand Chess Tour.
  • Anand, who suffered a surprise defeat against leader Ian Nepomniachtchi in the opening round, held World champion Magnus Carlsen in the second round.
  • Meanwhile, Nepomniachtchi continued his all-win sequence by beating Shakhriyar Mamedyarov in 32 moves in the only decisive battle of the day.
  • In the second round, too, Nepomniachtchi figured in the only decisive game after stopping Fabiano Caruana.

Commonwealth Chess Championship

  •  In the absence of any quality opposition from overseas challengers, India appears set to make a clean sweep of medals in all 16 categories in the Commonwealth chess championship which started in New Delhi.
  • Top seed and a four-time winner Abhijeet Gupta would look to add to his tally. Ranked joint-ninth in the country, Abhijeet expects serious challenge from, among others S. L. Narayanan, National champion Aravindh Chithambaram, former champion M. R. Lalit Babu and several other Indian Grandmasters.
  • In a rare instance, the event features more GMs (12) and International Masters (11). In fact, two of the IMs, P. Iniyan and Swayams Mishra are awaiting confirmation of their GM titles. In all, there are 614 entries across all categories.
  • Among the leading ladies, Divya Deshmukh, 14, is the rating favourite, ahead of defending champion Tania Sachdev and fellow former Asian women champion Bhakti Kulkarni.
  • Women players play in the open section and the best three finishers make it to the podium. In all other categories, competitions are held separately in open and girls sections.
  • For the record, out of the 94 entries, India accounts for 83. The remaining 11 entries are from Bangladesh, Botswana, Malaysia, Maldives, Mauritius, South Africa, Seychelles and Singapore. As usual, stronger Commonwealth nations, led by England, have stayed away.
View Month Wise

NATIONAL AFFAIRS

India Seeks Kartarpur Talks

  •  After weeks of an impasse on the Kartarpur corridor, the government has written to Pakistan, proposing the next round of talks to be held from July 11 to 14 on the Pakistani side of the Attari-Wagah border.
  • The meeting would discuss the draft agreement on the modalities for movement of pilgrims along the Kartarpur corridor and resolve outstanding technical issues related to alignment and infrastructure along the corridor.
  • The government's decision to propose the fourth round of talks came a week after Prime Minister Narendra Modi wrote to his Pakistan counterpart Imran Khan. Mr. Modi wrote that India was keen on seeing the corridor completed in time for the 550th birth anniversary of Sikh founder Guru Nanak in November 2019.
  • The talks had been put off as India had sought clarifications on several issues including whether to build a bridge or a causeway over the Ravi, proposed caps on pilgrim numbers, and the presence of Khalistani separatists in key posts of the gurdwara committee in Pakistan. 

Delhi Congress Dissolves 280 Block Committees

  •  Based on a report submitted by a five-member committee formed to assess the party's performance in the recent Lok Sabha polls, Delhi Congress chief Sheila Dikshit dissolved the party's 280 block committees.
  • The three-time former chief minister announced the dismissal of the 280 block committees with immediate effect and said that the party is also on its way to form a Pradesh Congress Committee (PCC) for Delhi to strengthen operations before the upcoming assembly elections.
  • The Delhi Congress had formed the five-member committee to assess reasons for the defeat of the party in all seven parliamentary constituencies in Delhi in the Lok Sabha elections. The committee submitted its report earlier in June 2019.
View Month Wise

GOVERNMENT POLICIES AND SCHEMES

One Nation, One Ration Card

  •  The 'One Nation One Ration Card' scheme, which would allow portability of food security benefits, would be available across the country from July 1, 2020.
  • This means poor migrant workers will be able to buy subsidised rice and wheat from any ration shop in the country, so long as their ration cards are linked to Aadhaar.
  • All the States have been given one more year to use point of sale (PoS) machines in the ration shops and implement the scheme.
  • Already, 77% % of the ration shops across the country have PoS machines and more than 85% of people covered under the National Food Security Act (NFSA) have their cards linked to Aadhaar.
  • According to senior Food Ministry officials, while Aadhaar linkage is not necessary to access NFSA benefits in a beneficiary's local registered ration shop, located closest to her home address, it will be necessary to access the portability scheme. 
  • Ten States -- Andhra Pradesh, Gujarat, Haryana, Jharkhand, Karnataka, Kerala, Maharashtra, Rajasthan, Telangana and Tripura – already offer this portability. Delhi had also begun implementing portability, though it was later stopped for technical reasons.
  • Other States, including Himachal Pradesh, Madhya Pradesh, Jammu and Kashmir, Punjab and Tamil Nadu, could easily implement the scheme, as they had PoS machines in all the ration shops.
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