Assam Current Affairs – June 29 - 30, 2018
( Covers all important Assam Current Affairs & GK topics for the period of June 29-30, 2018 )
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June 29
Indian Deposits in Swiss banks increased by 50%
The money deposited by Indians in Swiss banks rose by over 50% to Rs 7,000 crore in 2017.As against the 50 per cent rise in funds from India, the total funds held by all foreign clients of Swiss banks rose by just 3 per cent to Rs 100 lakh crore in 2017. This rise is despite Indian government’sclaims of taking decisive action against black money.
In 2016, deposits by Indians had fallen by 25 per cent. The drop was marking the biggest ever annual plunge to approximately Rs 4,500 crore.
The funds held directly by Indians in 2017 rose to Rs 6,891 crore. Of this, Rs 3200 crore was in the form of customer deposits, Rs 1050 crore through other banks and Rs 2640 crore as other liabilities including securities. Nearly Rs 112 crore was held through fiduciaries or fund managers.
RIMPAC 2018 begins, India participates
The biennial Rim of the Pacific (RIMPAC) exercise, the largest international maritime exercise in the world, hosted by the US, is being conducted with naval forces of 26 countries including India.
Brazil, Israel, Vietnam and Sri Lanka are also participating in this year’s exercise for the first time.
Recently, US has withdrawn invitation to China, which was initially invited and has been participating in the exercise since 2014.
RIMPAC 2018, starts from 27 June to 2 August, involves 47 surface ships, 5 submarines, over 200 aircraft, land forces from 18 countries and 25,000 personnel, including participation from US allies lie along the rim of the Pacific Ocean.
This massive congregation will conduct an array of exercises around the Hawaiian islands and off the coast of southern California in the US.
Point2Remember – RIMPAC, the Rim of the Pacific Exercise, is the world’s largest international maritime warfare exercise.
President gave ascent to ‘National Abused and Attacked Girls and Women Rehabilitation and Welfare Fund’
President Ram Nath Kovind has given his nod to the bill that seeks to establish a ‘National Abused and Attacked Girls and Women Rehabilitation and Welfare Fund’ for victims of acid attack, rape and trafficking with an initial corpus of Rs 30,000 crore.
The bill was moved by BJP MP Ramesh Pokharial Nishank in 2017 and will be now presented for consideration in the Parliament.
Besides the establishment of the fund, the bill also seeks setting up of stop-crisis centres at conspicuous places in different parts of the country for extending necessary help and facilities to girls and women, by the police and other agencies.
The bill has provision to provide ex-gratia payment of not less than Rs 5 lakh to every victim of acid attack or rape incident.
Union Govt asked states to cancel ration card for those not availing benefit
The Centre asked state govt to cancel ration cards of those who have not lifted rations under PDS for three consecutive months. Union Food Minister Ram Vilas Paswan also urged states to ensure doorstep delivery of ration to the needy to check starvation deaths.
If beneficiary is rich and does not drawing rations, then such ration card can be cancelled. In another possibility, if some beneficiaries are not able to visit ration shop because of old age and physical disability, then home delivery of ration should be taken care.
The states are also asked to keep a strict vigil on price rise of vegetable and staples in varying seasons. PDS rates have been kept unchanged for rice at Rs 3/kg, wheat at Rs 2/kg and coarse grains at Rs 1/kg.
June 30
Maharashtra Govt. announced ‘Kanya Van Samruddhi Yojana‘
The Maharashtra govt announced a new scheme called ‘Kanya Van Samruddhi Yojana’ aimed at empowering women and promoting tree plantation. Under the scheme, farmers families where girl children are born will be given 10 saplings free of cost from the forest department, for plantation.
The saplings will be of different varieties, including teakwood, mango, jackfruit, black plum, and tamarind. Beneficiaries will have to plant the saplings between July 1 and 7.
Asia’s first patent arbitration centre to open in Tokyo
The International Arbitration Centre in Tokyo (IACT), Asia’s first arbitration centre, specialised in Intellectual Property, is set to open in Tokyo, very soon, to resolve the growing number of disputes in the region. The centre will have around a dozen arbitrators from around the world, who would try to resolve disputes within a period of one year.
International arbitration is arbitration between companies or individuals in different states, usually by including a provision for future disputes in a contract.
The predominant system of rules is the UNCITRAL Arbitration Rules, as well as the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958 (the “New York Convention”).
The International Centre for the Settlement of Investment Disputes (ICSID) also handles arbitration, but it is particularly focused on investor-state dispute settlement and hears relatively few cases.
FACTFILE – United Nations Commission on International Trade Law
- The United Nations Commission on International Trade Law (UNCITRAL) was established by the United Nations General Assembly by its Resolution 2205 (XXI) of 17 December 1966 “to promote the progressive harmonization and unification of international trade law”.
- UNCITRAL carries out its work at annual sessions held alternately in New York City and Vienna.
- UNCITRAL’s membership expanded to 60 in 2004. Member states of UNCITRAL are representing different legal traditions and levels of economic development, as well as different geographic regions.
- States includes 12 African states, 15 Asian states, 18 European states, 6 Latin American and Caribbean states, and 1 oceanian state.
- The Commission member States are elected by the General Assembly. Membership is structured so as to be representative of the world’s various geographic regions and its principal economic and legal systems.
- Members of the commission are elected for terms of six years, the terms of half the members expiring every three years.
BSE MOU with BME for developing commodity derivatives markets
Bombay Stock Exchange (BSE) has entered into an agreement with the Bombay Metal Exchange (BME) for the growth and systematic development of commodity derivatives markets in the non-ferrous metals complex.
Under the MoU, the BSE and the BME will co-ordinate and work jointly on initiatives to deepen the understanding of commodity market among stakeholders. The agreement will also help in launching new and innovative products, adding more value to the existing commodities value chain and ecosystem.
FACTFILE- The Bombay Stock Exchange (BSE)
- BSE is an Indian stock exchange located at Dalal Street, Mumbai.
- Established in 1875, the BSE is Asia’s first stock exchange.
- It claims to be the world’s fastest stock exchange, with a median trade speed of 6 microseconds. The BSE is the world’s 10th largest stock exchange with an overall market capitalization of more than $2.3 trillion on as of April 2018
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