Connect to Current -Daily Current Capsules - 26th April 2019

International Relations ( United Nations)

International Day of Multilateralism and Diplomacy for Peace 2019

Relevance IN – Prelims ( about the first ever International Day of

Multilateralism and Diplomacy for Peace)

What’s the NEWS

The International Day of Multilateralism and Diplomacy for Peace was

officially proclaimed to be observed ever year on 24 April by the UN

General Assembly on December 12, 2018 through a resolution.

The first ever official ‘International Day of Multilateralism and

Diplomacy for Peace’ was observed by the United Nations (UN) on

April 24, 2019.

The UN General Assembly convened a one-day high-level plenary

meeting to commemorate and promote the day.

Know! more about the International Day of Multilateralism and

Diplomacy for Peace

The Assembly proclaimed the day while considering that preserving the

values of multilateralism and international cooperation is fundamental to

promote and support the three pillars of the UN - Peace and Security,

Development and Human Rights.

The Day is a reaffirmation of the UN Charter and its principles of

resolving disputes among countries through peaceful means.

Defence

Indian Coast Guard Vessel C-441 commissioned

Relevance IN – Prelims ( about the vessel)

What’s the NEWS

The Indian Coast Guard Vessel C-441 was commissioned at Vizhinjam

harbour, Thiruvananthapuram.

Know! more about ICGS C-441

The Indian Coast Guard Ship (ICGS) C-441 is capable to undertake

diverse tasks such as close coast surveillance, interdiction, search and

rescue and rendering assistance to boats and crafts in distress at sea.

It will enhance the search and rescue capacity of Kerala seas.

The ship is commanded by Assistant Commandant Amit K Choudhary.

It has 13 crew onboard with specialisation in various fields.

Space Awareness

UAE's Mars probe ‘Hope’ 85 percent complete

What’s the NEWS

For the first time, a Mars exploration project will be able to take a global

picture of the Martian atmosphere.

The UAE Space Agency has announced 85 percent completion of the gulf

nation’s ‘Hope Probe’ project. The probe is an ambitious dream project

of the UAE to send a mission to Mars.

The two space organizations confirmed in a joint statement that most of

the main parts of the project have been completed and are currently

undergoing intensive testing to ensure every aspect of the Probe is ready

for activation a few months before the launch date.

Know! more about the objective of probe

The probe is scheduled to be launched in July 2020. With its successful

launch, UAE hopes to become the first Arabic and Islamic country to

make the Mars Mission dream a reality.

The key objective of UAE’s Mars Mission will be to add to the global

efforts to explore space and the surrounding planets.

For the first time, a Mars exploration project will be able to take a global

picture of the Martian atmosphere.

An integrated picture of the atmosphere will be taken throughout the day

and for a long period of time, capturing all relevant data about the planet

during different seasons across the year.

Know! more about the Hope Probe

The probe has entered an intensive testing phase to ensure its readiness

before the launch date, with less than 500 days are remaining for the

launch.

The probe is planned to reach Mars by 2021 to coincide with the 50th

anniversary of the founding of the UAE.

The devices will be key to achieving the objectives of the scientific

mission, which is a deeper and wider understanding of the Martian

atmosphere.

China to build moon station in 'about 10 years'

What’s the NEWS

China plans to send a manned mission to the moon and to build a research

station there within the next decade.

Know! more about China’s project

China aims to achieve space superpower status. The nation took a major

step towards that goal when it became the first nation to land a rover on

the far side of the moon in January 2019.

Tiangong programme also known as ‘Heavenly Palace’ is the space

station program of the People's Republic of China. The key focus is to

create a modular space station, comparable to Soviet Union’s Mir.

China launched its first space laboratory, Tiangong-1, on September 29,

2011. Following Tiangong-1, a more advanced space laboratory complete

with cargo ship, Tiangong-2, was launched on September 15, 2016.

The project will culminate with a large orbital station, which will consist

of a 20-ton core module, 2 smaller research modules, and cargo transport

craft. It is expected to support three astronauts for long-term habitation.

The space station is scheduled to go into orbit by 2022. It is set to replace

the International Space Station, a collaboration between the United

States, Russia, Canada, Europe and Japan, which is due to be retired in

2024.

China’s Long March-5B rocket will make its maiden flight in the first

half of 2020, carrying the core parts of the planned space station.

China would also be launching an asteroid exploration mission and has

invited collaborators to place their experiments on the probe. The current

Chang'e-4 moon lander had carried equipment from Germany, the

Netherlands and Sweden.

Know! more about the space programme of China

China has confirmed that its fourth lunar probe, the Chang'e-5, will be

launched by the end of 2019.

The launch of Chang'e-5, which was originally scheduled to collect moon

samples in the second half of 2017, was delayed after its planned carrier,

the powerful Long March 5 Y2 rocket, failed during a separate launch in

July 2017.The nation also plans to launch a Mars probe by 2020.

China spends more on its civil and military space programmes than

Russia and Japan and is second only to the United States.

International Relations

Waivers for Iran oil imports end on May 2, won’t impact Chabahar Port Project

What’s the NEWS

The US Secretary of State, Mike Pompeo on April 23, 2019 announced

that the sanction waivers that it had granted to some countries still buying

oil from Iran will terminate on May 2, 2019.

With this announcement, five countries namely, India, China, Japan,

South Korea and Turkey will no longer be exempted from the US

sanctions, if they continue to import Iranian oil after their waivers end on

May 2. There will be no grace period for these five economies to comply

with the decision.

Know! more about the recent developments

The United States had in November 2018 granted waivers to eight

economies including China, India, Japan, South Korea, Taiwan, Turkey,

Italy and Greece while imposing sanctions on exports of Iranian oil.

Following this, Italy, Greece and Taiwan had stopped importing oil from

Iran. However, the other five continued to import.

The US re-imposed sanctions on exports of Iranian oil in November 2018

after it withdrew from the landmark 2015 nuclear deal. The United States

has been pressuring Iran to curtail its nuclear program and stop backing

militant outfits across the Middle East.

Know! more about Chabahar Port

Chabahar Port is a seaport in south-eastern Iran. It can be easily accessed

from India's western coast, bypassing Pakistan and is located close to

Afghanistan and other central Asian countries including Turkmenistan

and Uzbekistan

Chabahar Port is a seaport in Chahbahar in southeastern Iran.Its location

lies in the Gulf of Oman.

It is the only Iranian port with direct access to the Indian Ocean.

Being close to Afghanistan and the Central Asian countries of

Turkmenistan, Uzbekistan and others, the port has also been called as the

Golden Gate to these land-locked countries.

The port was partially built by India in the 1990s to provide access to

Afghanistan and Central Asia, bypassing Pakistan under the Ashgabat

Agreement.

The port will provide an alternative access to trade with Afghanistan

bypassing Pakistan.

Reduced transportation costs will allow India to import crude oil, urea

and dry fruits at lower prices.

Besides, land-locked country Afghanistan’s dependence on Pakistan for

sea-access will be significantly reduced. It will ultimately lower

Pakistan’s strategic hold on Afghanistan.

It will provide India access to the Middle East and Gulf countries

increasing trade and ties.

It is the nearest port to India on the Iranian coast. It will provide India

access to the resources and markets of Afghanistan and Central Asia.

Bilateral Relations

29th Abu Dhabi International Book Fair begins; India attends as Guest of Honour

Relevance IN – Prelims ( about ADIBF )

What’s the NEWS

The 29th edition of the Abu Dhabi International Book Fair (ADIBF)

began on April 24, 2019.

India is attending the fair as the “Guest of Honour” country, reflecting the

strong relations between the leadership and the people of the UAE and

India.

Know! more about the fair

It will involve over 1000 participants from more than 50 countries, who

will showcase 5,00,000 books. The fair aims to highlight the UAE’s rich

heritage, and showcase its authenticity, cultural and literary output.

30 publishing houses from India are taking part in the fair. A three-

member team from the Publications Division is participating in the Fair.

Economic Developments

RBI sells entire stake in NHB, NABARD to Government

Relevance IN – Prelims ( about NABARD and NHB + disinvestment ) + Mains (

GS III economic development)

What’s the NEWS

The Reserve Bank of India has sold its entire stake in the National

Housing Bank (NHB) and the National Bank for Agriculture & Rural

Development (NABARD) to the Union Government for Rs 1,450 crore

and Rs 20 crore, respectively. The move would now make these

organisations fully government-owned.

In a statement, the central bank revealed that it had sold its stakes in

NABARD and in the National Housing Bank on February 26 and March

19 respectively. With this divestment, the government now holds 100

percent stake in both these financial institutions.

Know! more about the move

The move is a part of ending the cross-holding in regulatory institutions.

It follows the recommendation of the second Narasimham committee

report of October 2001 and the RBI's own discussion paper on the same

entitled 'Harmonizing the role and operations of development financial

institutions and banks.'

The second Narasimham committee report had stated that RBI could not

own entities that are regulated by it.

Based on the committee’s recommendations, the central bank had

proposed to transfer its ownership in SBI, NHB and Nabard to the

government in October 2001.

Accordingly, on June 29, the government had bought out RBI’s entire

59.7 percent stake in SBI.

The disinvestment of RBI’s shareholding in NABARD was done in two

phases. The central bank held 72.5 percent equity in Nabard worth Rs

1,450 crore, of which 71.5 percent amounting to Rs 1,430 crore were

divested way back in October 2010 and the residual shareholding was

divested on February 26, 2019.

In case of NHB, the RBI held 100 percent shareholding in the financial

institution, which was divested on March 19, 2019.

The current change in the capital structure of both these financial

institutions was brought in by the government through amendments to the

Nabard Act of 1981 and the NHB Act of 1987 which were notified on

January 19, 2018 and March 29, 2018, respectively.

Know! more about NABARD and NHB

The National Bank for Agriculture & Rural Development was established

on July 12, 1982 by transferring the agricultural credit functions of RBI

and refinance functions of the then Agricultural Refinance and

Development Corporation.

Set up with an initial capital of Rs 100 crore, the finance institution's paid

up capital stood at Rs 10,580 crore as of March 2018.

On the other hand, the decision to establish the National Housing Bank

was announced in the 1987-88 budget, following which, the NHB Bill,

providing a legislative framework for the NHB, was passed by parliament

in the Winter session of 1987 and it became an Act on December 23,

1987.

The National Housing Policy of 1988 envisaged setting up of NHB as the

apex level institution for promoting the housing sector.

Prelims Practise Questions

Consider the following statement

1. The United States earlier granted waivers to eight economies including

China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece

while imposing sanctions on exports of Iranian oil.

2. Chabahar Port is a seaport in south-eastern Iran. It can be easily accessed

from India's western coast, bypassing Pakistan and is located close to

Afghanistan and other central Asian countries including Turkmenistan

and Uzbekistan

3. Chabahar Port is a seaport in Chahbahar in southeastern Iran. Its location

lies in the Gulf of Oman.

4. It is the only Iranian port with direct access to the Indian Ocean.

Find the correct statement from the option given below

a. 1 only

b. 2 only

c. None

d. All

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