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CLASS NOTES: 7 Jan -14 Jan, 2013
(Compiled from 11 Newspapers & 7 Magazines)
8 Janaury 2013 Moderate earthquake hits North-east
An earthquake of moderate intensity on Wednesday rocked the entire north eastern region, but there was no report of any injury to people or damage to property. The quake, measuring 5.9 on the Richter scale, hit the region at around 7.12 AM with its epicentre being 89 km underneath the earths crust along the Indo Myanmar border, officials at the Regional Seismological Centre here said. The quake lasted a few seconds and rocked all major towns in the region, they said. The epicentre was in Phek district of Nagaland. Dr.Lallenmawia said the technical information about the quake was received from the seismological centre of the North East Institute of Science and Technology, Jorhat in Assam. each discovered planetary system using other techniques; and 6. Determine the properties of those stars that harbor planetary systems. The Kepler Mission also supports the objectives of future NASA Origins theme missions Space Interferometry Mission (SIM) and Terrestrial Planet Finder(TPF), moderate temperatures are habitable for life similar to that found on Earth. At least one in seven exoplanets are flying close-in orbits around their suns much like Earths orbit around its sun, the scientists say. And the groups leader says the number is probably more like half which means there may be a staggering number of them within their stars so-called habitable zones, where temperatures would be just right for water to exist. Their analysis included only planets roughly the size of Earth, and with orbits around their stars that are closer than the orbit of Mercury to our sun. But by factoring in the exoplanets discovered by Kepler to date, a team of scientist headed by Francois Fressin of the Harvard-Smithsonian Centre for Astrophysics say there could be at least 17 billion exoplanets in the Milky Way. Unlike the comets of our own night sky like Haleys, that fly around the sun and past the planets of our solar system, objects are flying past stars where planets havent formed yet, although the ingredients for planets do exist in clouds of gas and dust. Like the comets in Earths night sky, those objects that astronomers now call exomets, are icy remnants of a timebillions of years agowhen all planets must have formed from clouds of frozen rocky rubble. Interstellar dust under the influence of gravity becomes blobs, and the blobs grow into rocks, the rocks coalesce and become bigger thingsplanetesimals and comets and finally, you get planets, said Mr. Welsh at a press conference during a meeting of the American Astronomical Society. The discovery of exomets suggests they are just as common as exoplanets in other distant solar systems, and that might mean a staggering number of planets.
By identifying the common stellar characteristics of host stars for future planet searches, By defining the volume of space needed for the search and By allowing SIM to target systems already known to have terrestrial planets.
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ShibuSoren-led Jharkhand Mukti Morcha formally withdraws support from BJP-led Arjun Munda govt.
Deepening the political crisis in the state, Jharkhands ruling coalition partner JMM submitted its letter to Governor Syed Ahmed today formally withdrawing support to the 28-month-old ArjunMunda government pushing it to a minority. The JMM action came even as the Jharkhand Cabinet decided to recommend dissolution of the state assembly to prevent any horse trading-like situation. Jharkhand Cabinet decision not binding on Governor: Congress New Delhi: Jharkhand Cabinets decision recommending dissolution of the Assembly was not binding on the Governor as it was done by the ArjunMunda Government after being reduced to a minority, Congress said today. It is not binding on the Governor to accept the recommendation of a minority government. It was crystal clear that the BJP-led government had been reduced to a minority after withdrawal of support by the
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Indias strategic decision, he said, adding the country had successfully found new markets in Africa and other neighbouring countries. 4. Encouraging long term FDI flows would be more fruitful as the Government had decided to borrow as little as possible, he said. 5. We have continued to receive considerable remittances from the Indian Diaspora which is our underlying strength. In 2012, we received USD 80 billion leaving China behind with USD 76 billion
product. Typically, such a name conveys an assurance of quality and distinctiveness which is essentially attributable to the fact of its origin in that defined geographical locality, region or country. Under Articles 1 (2) and 10 of the Paris Convention for the Protection of Industrial Property, geographical indications are covered as an element of IPRs. They are also covered under Articles 22 to 24 of the Trade Related Aspects of Intellectual Property Rights (TRIPS) Agreement, which was part of the Agreements concluding the Uruguay Round of GATT negotiations. India, as a member of the World Trade Organization (WTO), enacted the Geographical Indications of Goods (Registration & Protection) Act, 1999 has come into force with effect from 15th September 2003.
Giant ring of gas and dust spotted around Milky Ways black hole
1. Researchers have captured new images of a ring of gas and dust seven light-years in diameter surrounding the supermassive black hole at the center of the Milky Way, using the Stratospheric Observatory for Infrared Astronomy (SOFIA). 2. The telescope also captured images of a neighbouring cluster of extremely luminous young stars embedded in dust cocoons. 3. Ryan Lau of Cornell University and his collaborators studied the galaxys circumlunar ring (CNR), while Matt Hankins of the University of Central Arkansas in Conway is lead author of the other paper, regarding the quintuplet cluster (QC). 4. The images were obtained during SOFIA flights in 2011 with the FaintObject Infrared Camera for the SOFIA Telescope (FORCAST) instrument built by a team with principal investigator Terry Herter of Cornell. 5. FORCAST offered astronomers the ability to see the CNR and QC regions and other exotic cosmic features whose light is obscured by water vapor in Earths atmosphere and interstellar dust clouds in the mid-plane of the Milky Way.
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Balbandhu Programme of National Commission for Protection of Child Rights An innovative Balbandhu
scheme initiated by the National Commission for Protection of Child Rights (NCPCR) in strife torn areas two years back too has started making an impact. The scheme has been introduced in nine districts affected by civil strife in Sukhma in Chhhatisgarh, Gadchiroli in Maharashtra, Khammam in Andhra Pradesh, East Champaran, Sheohar, Jammui and Rohtas in Bihar and Kokrajhar and Chirang in Assam. Balbandhus are young people recruited from within the
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Among many other suggestion, recommendations, that the Balbandhu programme should be extended for at least two years in the same block and a new block should be opened up in the neigh bouring district where the existing resource person and balbandhu can give basic operational training
The self-help groups and Balbandhu committee should monitor Midday meal scheme and send regular reports.
Students should be encouraged to form self-help groups where the students good in studies could help weak children. National Electric Mobility Mission Plan Launched
The Honble Prime Minister unveiled the National Electric Mobility Mission Plan (NEMMP) 2020. The principal end objectives of the National Mission for Electric Mobility (NMEM): 1. National energy security 2. Mitigation of the adverse impact of vehicles on the environment and growth of domestic manufacturing capabilities. 3. The NEMMP 2020, the mission document for the NMEM that was approved by the National Council for Electric Mobility (NCEM) on 29th August, 2012, sets the vision, lays the targets and provides the joint Government industry vision for realizing the huge potential that exists for full range of efficient and environmentally friendly electric vehicle (including hybrids) technologies by 2020. The NEMMP 2020 is a wellresearched document and relies on in-depth primary data based study conducted jointly by the Government and the Industry which indicates that high latent demand for environmentally friendly electric
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from a variety of problems,including power shortage and a slowdown in export demand from western countries. Between 2004-05 and 2009-10, 3.7 million manufacturing jobs were lost in the country, and more than 80 per cent of those who lost their jobs were women. 6. During the post-1990 years, the major source of employment for women has been in the services sector, mainly in low-paid services such as domestic help.
7 January - 14 January 2013 Soon MSMEs can buy, sell licences for patented products online
MSMEs will get concessional rates for trading on the portal An online portal where micro, small and medium enterprises (MSME) can trade licences for patented products will be launched in April, said Karamjeet Singh Saluja, Deputy Director, Intellectual Property Rights (IPR), Federation of Indian Micro and Small and Medium Enterprises (FISME), Intellectual Property Facilitation Centre (IPFC). There are different IPR instruments, and entrepreneurs should know which instrument should be used when, some of them are; patents, copyrights, trademarks, geographical indication (GI) tags.
3. The 25-hydroxy Vitamin D blood test can tell you if you are deficient or not. Levels over 30 nanograms/ millilitre are termed sufficient. (One nanogram is one billionth of a gram).
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1. Leading a group of multinational insurers, former Ambassador of the US to India Frank Wisner on Friday pitched for 4. review the safeguards provided raising foreign direct investment by or under the Constitution or any law for the time being in force for the ceiling in the insurance sector to 49 per cent to help insurers raise protection of human rights and capital necessary to fuel business recommend measures for their growth. effective implementation 5. review the factors, including acts of terrorism that inhibit the enjoyment of human rights and recommend appropriate remedial measures 6. study treaties and other international instruments on human rights and make recommendations for their effective implementation 7. undertake and promote research in the field of human rights 8. engage in human rights education among various sections of society and promote awareness of the safeguards available for the protection of these rights through publications, the media, seminars and other available means 9. encourage the efforts of NGOs and institutions working in the field of human rights 10. Such other function as it may consider it necessary for the protection of human rights. 2. Currently, the FDI limit in the insurance sector at 26 per cent. 3. Emphasising that foreign companies are the long term players in the insurance business, he said raising foreign investment limit will give them confidence and help them bring in higher capital which is required for the growth of the business. 4. Entry of foreign companies in the insurance market has resulted in expanding the product basket, Mr. Wisner said, adding the sector has generated about 3 million direction and indirect employment and modern practices introduced in the sector post liberalisation. 5. Indias own national insurance company has grown by leaps and bounds as a result of introduction of competition, he said. 6. Its timely for a number of reasons...India has huge demand
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3. Launching gas connection portability, Petroleum and Natural Gas Minister VeerapaMoily said the service would be extended to 25 more districts in the next fiscal. However, unlike mobile services where you could change the service provider or the mobile company, an LPG consumer will have the option to change the dealer within the same distribution company but not the oil company. 4. For example, a consumer of Indane of the Indian Oil Corporation (IOC) will have the option to choose from other Indane dealers but will not be able to switch to dealers of Hindustan Petroleum Corporation Limited (HPCL) or Bharat Petroleum Corporation Limited (BPCL). A pool of two to three dealers will be cleared for every locality in the district. Consumers will have the option of choosing from this cluster, Mr.Moily added. 5. Dealer portability has been launched to provide better services to 13.5 crore customers and end the monopolistic practices of the cooking gas distributors, he said. 6. No inter-company change 7. Officials said the inter-company change was not possible at this moment as the law did not permit it. The government was looking at changing the law or creating a situation where a cylinder belonging to one oil company could be returned to or re-filled by another oil company. 8. Mr.Moily also launched new IT/ web-enabled initiative, Lakshya to enable consumers book and track refills online as well on mobile phone. It would enhance transparency in distribution of cylinders. Under the new initiative, customers can rate their distributors on service and anybody found wanting could possibly face termination of dealership. Now each distributor is being automatically rated from 5 stars to no star on a graded scale using transaction data. The distributor who supplies 85 percent of cylinders booked in less than two days is rated 5 stars and the distributor who supplies 85 percent of cylinders beyond 10 days is rated with no star. 9. Others are rated in between according to their delivery pattern. The rating will help consumers select distributorships once portability is available.
or very high loading routes, in short extensions that require additional strength (e.g. rail station), or for localised replacement where there are exceptional maintenance difficulties, for example in tunnels.
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Green Tribunal halts all construction activity in Noida and Greater Noida
In an order that is expected to bring to a halt all construction activity, the National Green Tribunal has restrained all builders in Noida and Greater Noida from extracting any quantity of underground water for purposes of construction or otherwise till the next date of hearing. Concept: National Green Tribunal Bill, 2009 In order to provide quick clearance for cases related to environmental damage, this Bill sets up the National Green Tribunal. The tribunal will hear cases related to major environmental damage as well as appeals under various environmental Acts.
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7 January - 14 January 2013 Provisioning norms for NBFCs will hit profitability: Assocham
The Associated Chambers of Commerce and Industry of India (Assocham) has suggested to the Reserve Bank of India (RBI) that the proposed norms on prudential regulatory framework of nonbanking finance companies (NBFCs) could have a negative impact on overall profitability of NBFCs due to higher provisioning requirements for standard assets and revision in non-performing assets (NPA) norms. As a liquidity coverage requirement, the industry organisation suggested the RBI to treat bank deposits with maturity period beyond 30 days, where pre-mature refunds are allowed without any penalty, as good as bank balances for all practical purposes. Provisioning on standard assets Further, the panel has proposed to raise the provisioning on standard assets from 0.25 percentage points to 0.40 percentage points of the outstanding amount with effect from March 31, 2014, for all NBFCs. The chamber has also suggested to the RBI that the time limit of three years may be considered instead of implementing it from March 31, 2014. This is important in the case of factoring companies which have just been governed by the Factoring Bill passed by Parliament. The operational cycle for most of the infrastructure projects is more than three months, and considering the difficulties related to implementation, operational and other issues raised by IFCs, three months period for the declaration of NPA may be inadequate. So far as infrastructure companies are concerned, the period should be kept as 180 days, Assocham added. Further, it said that NBFCs do not enjoy the same benefits as provided to banks under the Income-tax Act. Therefore, it was suggested by the industry that given the objective to bring parity with banks, NBFCs should be provided the same benefits under SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act and Incometax Act and benefits under Debt Recovery Tribunals. Income tax benefits should also be brought on a par with banks for NBFCs. Banks get benefits on their entire provisioning while NBFCs get that benefit on written-off books only. NBFCs are to be considered on a par with banks and financial institutions for availing of refinance and take-out finance from IIFCL to ensure level-playing field, the chamber added. Concept: NBFCs in India QUES -1. what is a Non-Banking Financial Company (NBFC)? ANS -1. A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/ debentures/securities issued by Government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property. A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (Residuary nonbanking company). QUES 2. NBFCs are doing functions similar to banks. What is difference between banks & NBFCs? ANS 2. NBFCs are doing functions akin to that of banks; however there are a few differences: 1. an NBFC cannot accept demand deposits; 2. an NBFC is not a part of the payment and settlement system and as such an NBFC cannot issue cheques drawn on itself; and 3. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available for NBFC depositors unlike in case of banks. QUES-3. Is it necessary that every NBFC should be registered with RBI? ANS 3. In terms of Section 45-IA of the RBI Act, 1934, it is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution as defined in clause (a) of Section 45 I of the RBI Act, 1934. However, to obviate dual regulation, certain categories of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA, Nidhi companies as notified under Section 620A of the Companies Act, 1956, Chit companies as defined in clause (b) of Section 2 of the Chit Funds Act, 1982 or Housing Finance Companies regulated by National Housing Bank. QUES 4. What are the different types of NBFCs registered with RBI? ANS 4. Originally, NBFCs registered with RBI were classified as: 1. equipment leasing company; 2. hire-purchase company; 3. loan company; 4. investment company. However, with effect from December 6, 2006 the above NBFCs registered with RBI have been reclassified as (i) Asset Finance Company (AFC) (ii) Investment Company (IC) (iii) Loan Company (LC) AFC would be defined as any company which is a financial institution carrying on as its principal business the financing of physical assets supporting productive/ economic activity, such as automobiles, tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own power and general purpose industrial machines. Principal business for this purpose is defined as aggregate of financing real/physical assets supporting economic activity and income arising therefrom is not less than 60% of its total assets and total income respectively. The above type of companies may be further classified into those accepting deposits or those not accepting deposits.
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Amid volatile rupee, NRI deposits nearly double, says RBI data
1. Continuing rupee fall and higher interest rate have seen NRI deposits nearly doubling in the first eight months of 2012-13 to $ 11.24 billion from $ 6.39 billion a year ago, according to the Reserve Bank data. 2. However, the non-resident (ordinary) rupee accounts and foreign currency non-resident accounts saw an outflow this year as against an inflow last year, according to the central bank data. 3. It can be noted that the rupee had hit an all-time low of 57.32 to the dollar on June 14. However, last Friday, the rupee ended at 54.76 to the dollar, which is 4.67 percent stronger from its all-time low. 4. Even though the currency has appreciated from its all-time low, inflows into NRI deposits continue on the back of higher interest rates. 5. It can be noted that, following the rupee fall in December 2011, the RBI had deregulated interest rates on NRI deposits, forcing banks to hike rates of such
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MoEF sets deadline to declare eco sensitive zones around national parks, sanctuaries
1. A decade after the National Board for Wildlife envisaged declaring areas within 10 km of the boundary of national parks and sanctuaries as eco-sensitive zones, the Union Ministry of Environment and Forests (MoEF) has given one last opportunity to all the States to submit site-specific proposals by February 15.
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