22-12-16 Thur Daily Current Affairs Analysis| IAS/UPSC

RBI on Old Currency RBI has modified its 19th Dec order. KYC compliant account holders will not be

questioned anymore if they deposit amount higher than Rs 5000.

KYC means “Know Your Customer”. It is a process by which banks obtain

information about the identity and address of the customers.

This process helps to ensure that banks’ services are not misused.

FM said only repeated deposits will attract scrutiny.

Ordinance on Wage Labour Minister said that employers can pay

salaries to employees by cheque, electronic transfers and cash.

Media reports that wages can be paid only by cheque and electronic transfers is not true.

Ordinance is out for amendment in Payment of Wages Act, 1936 to allow employers to pay wages by cheque, e-transfers or cash.

Earlier a written authorisation by employee was necessary for cheque or e-transfer.

Ordinance on WageOrdinance is valid for 6 months.Govt has to pass the bill in this 6 months period.

Ordinance making is one of the most imp power of President.

It is done when both houses are not in session or either one house is in session.

Digital India Award Earlier Digital India Award was known as

Web Ratna Award. Ministry of Human Resource Development

website has been given Platinum award in the Web Ratna category.

The website is user friendly and it is helpful in addressing grievances.

It also provides information about the activities of the ministry and its various departments.

NEET National Eligibility cum Entrance Test. Medical exam It will be conducted in 8 languages from next

academic year. Earlier it was conducted only in English and

Hindi but now students can take the test in Gujarati, Marathi, Bengali, Assamese, Telugu and Tamil.

Govt said it is working for brining transparency in medical education and removing malpractices.

Sahitya Academy Award Jerry Pinto: Em and the Big Hoom Nasira Sharma: Paarijat Engraved copper plaque Shawl Cheque of Rs 1L

I-T raids on TN Chief Sec IT department went through the office and residence

of Chief Sec P. Rama Mohan Rao. Rs 30L in new currency notes and 5kg gold was seized. Mr. Rao is also a vigilance commissioner. IT department got lead for Mr. Rao from a raid that it

conducted on Sand Baron Mr. J.S. Reddy. Chief Secs are IAS officers. Remember it not the chair on which you are posted

that defines you. It is you who defines the post of the chair on which you are posted.

Similar story: An IAS officer booked for scholarship scam.

Forest Fire in India Parliamentary Standing Committee on Science

and Technology headed by Rajya Sabha MP Renuka Choudhary submitted its report.

Committees are set up to deal with a specific issue. Parliament has other work to focus on so such committees are formed.

Forest fire and its frequency has increased across Central India and Himalayas.

Frequency has increased by 55% from last year.

15937 fires in 2015 but in 2016 we had a whopping 24817 fires.

Forest Fire in India Committee has recommended a national

policy on forest fire. M.P., Chhattisgarh, Odhisha contribute 1/3rd of

forest fire. 10 fold increase in M.P.: 294 in 2015 to 2600+

in 2016. This year a fire in Himalayas destroyed 4,000

hectares of forest land. Committee has recommended sweeping

machines, jobs under MGNREGA for collecting leaves, filling up vacancies of front line forest staff, upgrade fire fighters.

Forest fire adds carbon, destroys biodiversity.

Supreme Court on SC/ST Act

Apex Court criticized the government over the indifferent attitude towards implementation of the SC/ST (Prevention of Atrocities) Act

CJI said that government should discharge its duties to protect SC/ST from atrocities and strive for constitutional goal of equality for all.

Apex Court asked National Legal Services Authority to formulate appropriate scheme to spread awareness and provide free legal aid to SCs and STs.

2016 SASTR- Ramanujan Award

Started in 2005 by SASTRA University at Kumbhakonam, TN.

Award is for Mathematician under age of 32. This year we have joint winner

a) Maksym Radziwill of McGill University, Canada

b) Kaisa Matomaki of University of Turku, Finland

Coronary Stent

Inflation based Rail Fare

Coal Swapping Govt has allowed public and private power

producers to swap their coal supplies with a view to reduce the cost of electricity by ensuring more efficient fuel usage.

Power Minister said it will reduce cost of power generation by 40-50p leading to saving of Rs 25,000 crore per year.

This will rationalise transportation of coal from mines near to the plants.

IMPS: inter bank electronic instant mobile money transfer service through mobile phones.

UPI: an app which enables customers to make online as well as offline payment to merchants from their bank accounts.

DBT: Direct Benefit Transfers

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