CSEP-Current Affairs
CSEP-Current Affairs
CSEP-Current Affairs
The President of India has approved the conferment of Padma Awards-2011. This year the
President has approved 128 awards including one duo case (counted as one) and 12 in the
category of Foreigners/ NRIs/ PIOs/ Posthumous. These comprise 13 Padma Vibhushan, 31
Padma Bhushan and 84 Padma Shri Awards. There are 31 ladies among the awardees.
Padma Vibhushan
Sl
State/
No Name Discipline
Domicile
.
1. Dr. (Smt.) Kapila Art - Art Administration
Delhi
Vatsyayan and Promotion.
2. Mrs. Homai Vyarawalla Art - Photography Gujarat
3. Andhra
Shri A Nageshwara Rao Art- Cinema
Pradesh
4. Shri Parasaran Kesava
Public Affairs Delhi
Iyengar
5. Dr. Akhlaq-ur-Rehman
Public Affairs Delhi
Kidwai
6. Shri Vijay Kelkar Public Affairs Delhi
Shri Montek Singh
7. Public Affairs Delhi
Ahluwalia
Andhra
8. Shri Palle Rama Rao Science and Engineering
Pradesh
9. Shri Azim Premji Trade and Industry Karnataka
10. Madhya
Shri Brajesh Mishra Civil Services
Pradesh
11.Prof. (Dr.) Ottaplakkal
Neelakandan Velu Literature and Education Kerala
Kurup
12.Dr. Sitakant Mahapatra Literature and Education Orissa
13.Late Shri L. C. Jain Public Affairs Delhi *
Padma Bhushan
Padma Shri
The year 2011 marks the 100th anniversary of the founding of the International Association of
Chemical Societies, as well as the year Madame Marie Curie won the Nobel Prize – which
celebrates the contributions of women to science.
People are invited to celebrate the International Year of Chemistry in 2011 by recognizing the
achievements of chemistry throughout history and its contributions to the humankind. The Year
will give a global boost to chemical science, and hopefully increase the interest in chemistry
among young people. It aims to increase the public appreciation of chemistry in meeting world
needs and people around the world are invited to participate in activities and events that promote
the International Year of Chemistry.
Events that emphasize chemistry as a creative science essential for sustainability and
improvements to our way of life.
Experiments to explore how chemical research is critical for solving our global problems
involving food, water, health, energy, and more.
Activities that engages young people with scientific disciplines and generates enthusiasm
for the creative future of chemistry.
Organizations such as the International Union of Pure and Applied Chemistry (IUPAC), and the
United Nations Educational, Scientific, and Cultural Organization (UNESCO) are coordinating
events in countries such as (but not exclusive to) France, Puerto Rico, India, and the United
States to promote the International Year of Chemistry in 2011. These events include conferences,
workshops, expositions, festivals, as well as educational activities.
Background
Chemistry is the science of matter and the changes it undergoes, concerned with the composition,
behavior, structure, and properties of matter, as well as the changes it undergoes during chemical
reactions. Chemistry is vital to our understanding of the world and the cosmos, especially
molecular transformations are important to the production of food, medicines, fuel, and countless
manufactured and extracted products.
In partnership with the UN, the Year will make educational contributions in the areas of health
and environment, for the goals of the UN Decade of Education for Sustainable Development.
The activities during the International Year of Chemistry will emphasize the importance of
chemistry in helping to sustain the natural resource base for life.
The International Year of Chemistry will celebrate the art and science of chemistry, and its
essential contributions to knowledge, to environmental protection and to economic development.
Symbols
The official name and slogan for this event is the International Year of Chemistry (IYC) -
“Chemistry – our life, our future.” Logos, posters, business cards, and other promotional items
for the event feature the official slogan, the event’s official name, and an image that shows three
layered squares colored red, orange and blue, to represent chemical elements on the periodic
table. The top square is labeled with the letter “C” and labeled “2011 CHEMISTRY”.
The Reserve Bank of India today released on its website the Report of the RBI Sub-Committee
of its Central Board of Directors to study Issues and concerns in the micro finance institutions
(MFI) Sector.
The Sub-Committee has recommended creation of a separate category of NBFCs operating in the
microfinance sector to be designated as NBFC-MFIs. To qualify as a NBFC-MFI, the Sub-
Committee has stated that the NBFC should be “a company which provides financial services
pre-dominantly to low-income borrowers, with loans of small amounts, for short-terms, on
unsecured basis, mainly for income-generating activities, with repayment schedules which are
more frequent than those normally stipulated by commercial banks” and which further satisfies
the regulations specified in that behalf.
The Sub-Committee has also recommended some additional qualifications for NBFC to be
classified as NBFC-MFI. These are:
a. The NBFC-MFI will hold not less than 90% of its total assets (other than cash and bank
balances and money market instruments) in the form of qualifying assets.
b. There are limits of an annual family income of Rs.50,000 and an individual ceiling on loans to
a single borrower of Rs.25,000
c. Not less than 75% of the loans given by the MFI should be for income-generating purposes.
d. There is a restriction on the other services to be provided by the MFI which has to be in
accordance with the type of service and the maximum percentage of total income as may be
prescribed.
The Sub-Committee has recommended that bank lending to NBFCs which qualify as NBFC-
MFIs will be entitled to “priority lending” status. With regard to the interest chargeable to the
borrower, the Sub-Committee has recommended an average “margin cap” of 10 per cent for
MFIs having a loan portfolio of Rs. 100 crore and of 12 per cent for smaller MFIs and a cap of
24% for interest on individual loans. It has also proposed that, in the interest of transparency, an
MFI can levy only three charges, namely, (a) processing fee (b) interest and (c) insurance charge.
a. A borrower can be a member of only one Self-Help Group (SHG) or a Joint Liability Group
(JLG)
c. There should be a minimum period of moratorium between the disbursement of loan and the
commencement of recovery
f. The primary responsibility for avoidance of coercive methods of recovery must lie with the
MFI and its management
g. The Reserve Bank must prepare a draft Customer Protection Code to be adopted by all MFIs
While reviewing the proposed Micro Finance (Development and Regulation) Bill 2010, the Sub-
Committee has recommended that entities governed by the proposed Act should not be allowed
to do business of providing thrift services. It has also suggested that NBFC-MFIs should be
exempted from the State Money Lending Acts and also that if the recommendations of the Sub-
Committee are accepted, the need for the Andhra Pradesh Micro Finance Institutions (Regulation
of Money Lending) Act will not survive.
The Sub-Committee has cautioned that while recognising the need to protect borrowers, it is also
necessary to recognise that if the recovery culture is adversely affected and the free flow of funds
in the system interrupted, the ultimate sufferers will be the borrowers themselves as the flow of
fresh funds to the microfinance sector will inevitably be reduced.
The Reserve Bank of India in October 2010 set up a Sub-Committee of its Central Board of
Directors to study the issues and concerns in microfinance sector, under the Chairmanship of
Shri Y H Malegam, a senior member on the Reserve Bank’s Central Board of Directors. Other
members of the Sub-Committee included Shri Kumar Mangalam Birla, Dr. K C Chakrabarty,
Deputy Governor, Smt. Shashi Rajagopalan and Prof. U R Rao. Shri V K Sharma, Executive
Director, Reserve Bank of India was the Member Secretary to the Sub-Committee.
United States President Barack Obama had gained some notoriety for his administration’s
sometimes strident views on jobs moving from “Buffalo to Bangalore.” Now the President’s
oratory has given birth to a new and more positive sound bite in the realm of strategic
geography: “Samalkot to Schenectady”
At a speech in Schenectady, New York, this week Mr. Obama mentioned the small Andhra
Pradesh town and industrial complex venue no fewer than five times.
And unlike the references to American jobs getting “Bangalored,” a regular feature of the Obama
speeches of 2010, the President struck an optimistic note on the role of U.S.-India commercial
relations in spurring domestic job creation.
Speaking about his November 2010 visit to India at a plant of electric goods major General
Electric Mr. Obama said, “Part of the reason I wanted to come to this plant is because this plant
is what that trip was all about.”
He went on to explain that during that visit U.S. businesses were able to reach agreements on
exporting over $10 billion in goods and services to India, and that was, according to him,
expected to lead to 50,000 jobs created in the U.S.
Mr. Obama supplied some details of the Samalkot-GE deal in particular, noting that “As part of
the deal we struck in India, GE is going sell advanced turbines -- the ones you guys make -- to
generate power at a plant in Samalkot, India.”
He quipped, “Most of you hadn’t heard of Samalkot but now you need to know about it, because
you’re going to be selling to Samalkot, India.”
“That new business halfway around the world is going to help support more than 1,200
manufacturing jobs and more than 400 engineering jobs right here in this community -- because
of that sale,” he added, to loud applause.
More broadly this and other recent speeches by Obama administration officials appear to point to
a renewed emphasis on U.S. exports and job creation, said to be a top policy priority for 2011.
This was a point that Mr. Obama further underscored in his Schenectady speech, when he said,
the Samalkot agreement was a “perfect example of why promoting exports is so important.”
Prime Minister Manmohan Singh today flagged off nation-wide Mobile Number Portability, a
service that allows subscribers to change service provider while retaining the number.
This would benefit over 700 million subscribers, both in GSM and CDMA categories in the
country.
The new policy would force the operators to shift focus from acquiring new subscribers to
retaining the existing ones.
All that a customer needs to do for changing his telecom operator is pay a maximum of Rs 19.
He/she will get a new service provider within seven working days as per the guidelines of
regulator TRAI.
“Till now, operators were competing to acquire new subscribers. But launch of MNP will force
them to offer innovative and quality services to retain their subscribers,” Singh said .
The Prime Minister marked the launch of the service by making a call to Telecom Minister Kapil
Sibal who was seated next to him.
MNP services were first launched in Haryana in November last year and according to industry
estimates, less than one per cent subscribers opted for changing their operators.