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  • Insights Daily Current Events, 03 December 2014: INSIGHTS Simplifying UPSC IAS Exam Preparation

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    Mark Pratt
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    The document summarizes several current events that occurred on December 3, 2014. The key points are: 1) The Union Cabinet approved amendments to the Regional Rural Banks Act, 1976 to strengthen their capital base and bring flexibility to shareholding. This will ensure financial stability and greater role in financial inclusion for rural areas. 2) The Cabinet approved introduction of the comprehensive Anti-Hijacking Bill 2014 to provide death penalty for hijacking perpetrators and address gaps in existing law. 3) The traditional brass and copper craft of utensil making in Punjab received UNESCO intangible cultural heritage status, boosting its visibility and encouraging dialog with other communities.

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    Current Events

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    03 December 2014 _ Insights

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    The document summarizes several current events that occurred on December 3, 2014. The key points are: 1) The Union Cabinet approved amendments to the Regional Rural Banks Act, 1976 to strengthen their capital base and bring flexibility to shareholding. This will ensure financial stability and greater role in financial inclusion for rural areas. 2) The Cabinet approved introduction of the comprehensive Anti-Hijacking Bill 2014 to provide death penalty for hijacking perpetrators and address gaps in existing law. 3) The traditional brass and copper craft of utensil making in Punjab received UNESCO intangible cultural heritage status, boosting its visibility and encouraging dialog with other communities.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views4 pages

    Insights Daily Current Events, 03 December 2014: INSIGHTS Simplifying UPSC IAS Exam Preparation

    Uploaded by

    Mark Pratt
    The document summarizes several current events that occurred on December 3, 2014. The key points are: 1) The Union Cabinet approved amendments to the Regional Rural Banks Act, 1976 to strengthen their capital base and bring flexibility to shareholding. This will ensure financial stability and greater role in financial inclusion for rural areas. 2) The Cabinet approved introduction of the comprehensive Anti-Hijacking Bill 2014 to provide death penalty for hijacking perpetrators and address gaps in existing law. 3) The traditional brass and copper craft of utensil making in Punjab received UNESCO intangible cultural heritage status, boosting its visibility and encouraging dialog with other communities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    5/2/2015

    InsightsDailyCurrentEvents,03December2014|INSIGHTS

    INSIGHTSSimplifyingUPSCIASExamPreparation
    insightsonindia.com

    http://www.insightsonindia.com/2014/12/03/insightsdailycurrentevents03december2014/

    InsightsDailyCurrentEvents,03December2014
    ByINSIGHTS

    InsightsDailyCurrentEvents,03December2014
    AmendmentstoRegionalRuralBanksAct,1976
    TheUnionCabinet,chairedbythePrimeMinister,recentlyapprovedtheamendmentsintheRegionalRural
    Banks(RRBs)Act,1976.
    Whytheamendmentsarenecessary?
    toenhanceauthorizedandissuedcapitaltostrengthentheircapitalbaseandtobringflexibilityinthe
    shareholdingbetweenCentralGovernment,StateGovernmentandSponsorBank.
    TheamendmentswillensurefinancialstabilityofRRBswhichwillenablethemtoplayagreaterrolein
    financialinclusionandmeetingcreditrequirementsofruralareasandtheBoardofRRBswillbe
    strengthened.
    ThetermofthenonofficialdirectorsappointedbytheCentralGovernmentwillbefixednotexceedingthree
    years.
    RRBs:
    RegionalRuralBankswereestablishedunderRegionalRuralBanksAct,1976(theRRBAct).
    Aim:tocreateanalternativechanneltothecooperativecreditstructureandtoensuresufficientinstitutional
    creditfortheruralandagriculturesector.
    Ownership:RRBsarejointlyownedbyGovernmentofIndia,theconcernedStateGovernmentandSponsor
    Bankswiththeissuedcapitalsharedintheproportionof50%,15%and35%respectively.
    AsperprovisionsoftheRegionalRuralBanksAct,1976,presently,theauthorizedcapitalofeachRRBisRs5
    croreandtheissuedcapitalismaximumRs1crore.
    Sources:PIB.

    IntroductionofcomprehensiveAntihijackingBill2014
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    TheUnionCabinetchairedbythePrimeMinisterhasgivenitsapprovalforintroductionofthecomprehensive
    AntiHijackingBill2014.
    Thecurrentlaw,theAntiHijackingAct,1982,waslastamendedin1994.
    Whyisitrequired?
    AfterthehijackingofIndianAirlinesFlightIC814inDecember,1999,itwasfeltnecessaryforproviding
    theawardofdeathpenaltytoperpetratorsoftheactofhijacking.
    Theincidentof9/11,whereaircraftswereusedasweapons,alsocreatedtheneedtofurtheramendthe
    existingAct.
    AbouttheBill:
    TheAntiHijacking(Amendment)Bill,2010wasintroducedintheRajyaSabhainAugust,2010.
    TheBillseekstoamendtheAntiHijackingAct,1982.
    TheActstatesthatanypersonwhounlawfully,byforceorintimidationseizesanaircraftcommitsthe
    offenceofhijacking.TheBilladdsthatanyperson(whetheraloneorinagroup)whoattemptstocommit
    hijackingisguiltyoftheoffence.Anypersonwhoabetssuchanoffenceisalsoguilty.
    TheActstipulatesapenaltyoflifeimprisonmentandfinefortheoffenceofhijacking.TheBillenhances
    thepenaltyforhijackingtodeathorlifeimprisonmentandfine.
    Sources:PIB,prsindia.org.

    Traditionalbrassandcoppercraftofutensilmaking
    ThetraditionalbrassandcoppercraftofutensilmakingamongtheThatherasofJandialaGuruPunjabhasgot
    thedistinctionofbeinginscribedontheRepresentativeListoftheIntangibleCulturalHeritageofHumanity,
    UNESCO,2014.
    Thisisthe11thelementwhichhasbeensoinscribedonUNESCOsRepresentativeList.
    Howitwillhelp?
    TheinscriptionoftheelementontheRepresentativeListwilltangiblycontributetothevisibilityofthe
    intangibleculturalheritageingeneralbylendingrecognitiontotheskilloftheThatherasthathavebeen
    orallytransmittedforgenerationsupongenerationssofar.
    ItsInscriptioncouldcontributetoencouragedialogueswithothercommunitiesworldwidethatpractice
    traditionalmetalcraftsmanshiptomanufacturehandcraftedproductsthatarebothusefulandbeautiful.
    Details:
    ThecraftoftheThatherasofJandialaGuruconstitutesthetraditionaltechniquesofmanufacturingbrass
    andcopperutensilsinPunjab.
    TheThatherascraftutensilsareofbothUtilitarianandritualisticvaluemadeofcopper,brassandkansa
    (analloyofcopper,zincandtin).
    ThemetalsusedarerecommendedbytheancientIndianschoolofmedicine,Ayurveda.
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    Thecraftingprocesscarriedoutbyaspecificgroupofcraftspeople,knownasThatheras,hasaunique
    ethnicandhistoricalidentitywithanoraltraditionthatunderpintheirskill.Theverynameofthe
    communityThatherasisidenticalwiththenameoftheelement.
    ThecraftscolonywasestablishedduringthereignofMaharajaRanjitSingh(1883)thegreat19th
    CenturySikhMonarch,whoencouragedskilledmetalcraftersfromKashmirtosettleintheheartofhis
    kingdominthePunjab.JandialaGurubecameanareaofreputeduetotheskilloftheThatheras.
    Sources:PIB.

    AGNI4Missile
    Agni4Missilewassuccessfullylaunchedrecently.
    Details:
    Itis4000kmsrangeNuclearCapableBallisticMissile.
    ItisequippedwithstateoftheartAvionics,5thgenerationOnBoardComputeranddistributed
    architecture.
    Ithasthelatestfeaturestocorrectandguideitselfforinflightdisturbances.
    ThemostaccurateRingLaserGyrobasedInertialNavigationSystem(RINS)andsupportedby
    redundant,highlyreliableMicroNavigationSystem(MINGS),ensureshighaccuracy.
    Thereentryheatshieldiscapableofwithstandinghightemperaturesthatmayreachashighas4000
    degreecentigradeandaboveduringreentryofmissileinearthsatmosphereandmakessurethatthe
    avionicsfunctionnormally,withinsidetemperatureremaininglessthan50degreecentigrade.
    WithAgni1,2,3andPrithvialreadyinIndiasarsenal,Agni4furtherextendsthereachandenhances
    effectivedeterrencecapability.
    Sources:PIB.

    Preliminaryaccordonbridgeconstruction
    ChinaandMaldivesamajorelementoftheBeijingsponsoredMaritimeSilkRoadprojecthavesignedan
    accordtoconductpreliminarystudyonconstructingabridgethatwouldconnectcapitalMalewiththecitys
    internationalairport.
    ImportanceoftheProject:
    AnalystspointoutthattheprojectunderscoresadeepeningengagementbetweenChinaandMaldives,
    whichisamajorcogintheestablishmentofthe21stcenturyMaritimeSilkRoutevisualisedbyChina.
    Withthis,theChinesehopetoreviveamaritimeroutethatwouldstartfromitsFujianprovince,crossthe
    MalaccaStraitsandtransitthroughtheIndianOceanviaIndia,SriLanka,Maldives,andNairobiin
    Kenya.
    ItwouldfinallycrosstheMediterraneanviatheSuezCanaltoterminateatVenice.Venicewouldalsobe
    endoftheNewSilkRoutealandcorridorthatwouldstartinXianinChinaandtravelthroughCentral
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    Asia,beforeenteringEurope.
    Indiasconcerns:
    ChinasMaritimeSilkRoutehasraisedconcernsinIndia,whichopposesthemilitarisationoftheIndian
    Ocean.
    IndiasaysthattheIndianoceanmustremainazoneofpeace.
    Sources:TheHindu.

    INSIGHTS2015.AllRightsReserved.

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