Current Affairs Assam – July 2018
( Covers all important Assam Current Affairs & GK topics for the month of July 2018 )
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July 28
India, South Africa sign 3 MoUs
India and South Africa have signed three agreements on the sidelines of the 10th annual BRICS Summit. The agreements cover cooperation in space exploration, agriculture and artisanal skill development.
The agreements were signed in the presence of Prime Minister Narendra Modi and South African President Cyril Ramaphosa. The two leaders held their first bilateral meet on the sidelines of the BRICS Summit.
A Memorandum of Understanding (MoU) between the Indian Space Research Organisation (ISRO) and the South African National Space Agency (SANSA) to promote cooperation between the two agencies in space exploration and a commitment to continue using space for peaceful purposes.
The two governments also resolved to set up a ‘Gandhi Mandela Centre of Specialisation for Artisan Skills’.
The third MoU was signed between the Indian Council of Agricultural Research (ICAR) and the Pretoria-based Agricultural Research Council to improve cooperation in agricultural research and education.
FACTFILE – South Africa
- The Republic of South Africa (RSA), is the southernmost country in Africa.
- South Africa is the largest country in Southern Africa and the 25th-largest country in the world by land area and, with close to 56 million people, is the world’s 24th-most populous nation.
- It is the southernmost country on the mainland of the Old World or the Eastern Hemisphere.
- About 80 percent of South Africans are of Sub-Saharan African ancestry and the remaining population consists of Africa’s largest communities of European (white), Asian (Indian), and multiracial (Coloured) ancestry.
- South Africa is a multiethnic society encompassing a wide variety of cultures, languages, and religions. Its pluralistic makeup is reflected in the constitution’s recognition of 11 official languages, which is the fourth highest number in the world. Two of these languages are of European origin: Afrikaans developed from Dutch and serves as the first language of most coloured and white South Africans; English reflects the legacy of British colonialism, and is commonly used in public and commercial life, though it is fourth-ranked as a spoken first language.
- The country is one of the few in Africa never to have had a coup d’état, and regular elections have been held for almost a century. However, the vast majority of black South Africans were not enfranchised until 1994.
- The National Party imposed apartheid in 1948, institutionalising previous racial segregation. After a long and sometimes violent struggle by the African National Congress and other anti-apartheid activists both inside and outside the country, the repeal of discriminatory laws began in 1990.
- Since 1994, all ethnic and linguistic groups have held political representation in the country’s democracy, which comprises a parliamentary republic and nine provinces. South Africa is often referred to as the “rainbow nation” to describe the country’s multicultural diversity, especially in the wake of apartheid.
- The World Bank classifies South Africa as an upper-middle-income economy, and a newly industrialised country.
- South Africa has been identified as a middle power in international affairs, and maintains significant regional influence.
FACTFILE – BRICS
- It is the acronym coined by British Economist Jim O’Neill meant for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
- Originally the first four were grouped as “BRIC” (or “the BRICs”), before the induction of South Africa in 2010. The BRICS members are known for their significant influence on regional affairs; all are members of G20. Since 2009, the BRICS nations have met annually at formal summits.
- South Africa hosted the 10th BRICS summit in July 2018.
National Medical Commission (NMC) Bill
The NMC bill seeks to replace the apex medical education regulator, the Medical Council of India (MCI), with a new body National Medical Commission (NMC).
The bill also seeks to put in place a common entrance exam and licentiate exam, which all medical graduates will have to clear to get practisinglicences. It would also put in place a four-tier structure for the regulation of medical education. The 20 members National Medical Commission will be at the top of this structure.
The NMC can permit a medical professional to perform surgery or practise medicine without qualifying the National Licentiate Examination, in circumstances that may be specified in regulations.
According to the NMC Bill, the Ethics and Medical Registration Board can maintain a separate national register that would have the names of licensed AYUSH practitioners. The names of graduates of Bachelor of Ayurvedic Medicine and Surgery and Bachelor of Homeopathic Medicine and Surgery are already registered with their respective councils and on taking the bridge course they would be incorporated in a separate register maintained by the NMC, resulting in dual registration with two councils, which is neither open nor permissible.
The government, under the National Medical Commission (NMC), can dictate guidelines for fees up to 40% of seats in private medical colleges. This is aimed at giving students relief from the exorbitant fees charged by these colleges and is a standout feature of the bill.
FACTFILE – The Medical Council of India (MCI)
- MCI is a statutory body for establishing uniform and high standards of medical education in India.
- The Council grants recognition of medical qualifications, gives accreditation to medical schools, grants registration to medical practitioners, and monitors medical practice in India.
- The Medical Council of India was first established in 1934 under the Indian Medical Council Act, 1933. The Council was later reconstituted under the Indian Medical Council Act, 1956 that replaced the earlier Act.
Forex Reserves jumped to $405.14 Billion
Foreign reserves of the country climbed to US$ 405.143 billion for the week ended July 20, 2018 mainly driven by an increase in foreign currency assets and gold reserves. During the reporting week, foreign currency assets (FCAs), which constitute the major component of foreign reserves, increased US$ 46.8 million to US$ 380.049 billion.
Foreign currency assets (FCAs) reported in US dollar terms entails the effect of depreciation or appreciation of non-US currencies that form the part of foreign reserves such as yen, euro and pound.
Gold reserves also increased for the second straight week by US$ 24.9 million to US$ 21.140 billion.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) decreased to US$ 1.480 billion, down by US$ 1.8 million. Also reserve portion of India with the IMF also decreased to US$ 2.474 billion, down by US$ 2.2 million.
FACTFILE – Foreign-exchange reserves
- Forex reserves is money or other assets held by a central bank or other monetary authority so that it can pay if need be its liabilities, such as the currency issued by the central bank, as well as the various bank reserves deposited with the central bank by the government and other financial institutions.
- Reserves are held in one or more reserve currencies, mostly the United States dollar and to a lesser extent the Euro. In a strict sense, foreign-exchange reserves should only include foreign banknotes, foreign bank deposits, foreign treasury bills, and short and long-term foreign government securities.
- However, the term in popular usage also adds gold reserves, special drawing rights (SDRs), and International Monetary Fund (IMF) reserve positions. This broader figure is more readily available, but it is more accurately termed official international reserves or international reserves.
HCL tops Wipro to become 3rd big IT services firm
HCL Technologies has toppled Wipro to become the third-largest software services company in India in terms of dollar revenue, clocking a topline of $2.05 billion during the June quarter. The IT services revenue of Wipro during the same quarter was $2.02 billion.
Tata Consultancy Services and Infosys are the two larger Indian IT services firms with revenues of $5.05 billion and $2.83 billion, respectively in the June 2018 quarter.
HCL Technologies expects its dollar revenue to grow between 8.4% to 10.4% in dollar terms in FY2018-19. Wipro, on the other hand, does not issue a full-year revenue outlook.
During the June 2018 quarter, HCL Technologies saw its net income grow 5.7% to $356 million, while revenue increased 9% to $2.05 billion compared to the same period last year. In rupee terms, the company reported a 10% increase in consolidated net profit at Rs 2,431 crore for the first quarter ended June 30, 2018.
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