Sign up now
to enroll in courses, follow best educators, interact with the community and track your progress.
Download
14th June 2018 Part-2: Daily News Analysis
4,091 plays

More
Dummy company

Jatin Verma
Have appeared in UPSC CSE thrice. Have been taking Unacademy Plus courses Academics- Polity, Economics & Current Affairs.

U
Unacademy user
Sk
its awesome.... thank u so much sir.... plz do continue
Sir, Tata Boeing Aerospace Ltd a Joint Venture to manufacture fuselages (outer body) for AH 64 Apache Helicopter in Hyderabad, India. This facility will be sole manufacturing facility for Fuselages of Apache. These are exported to USA and from tehm they are assembled. We can say its a partial Make in India.
Sir it would be of great help if you could tell us from which GS paper the news you are discussing pertains to. I know it's our duty to learn the syllabus but for a beginner it gets really tough relating to which GS paper the topic relates to. Thanking you.
Sir it would be of great help if you could tell us from which GS paper the news you are discussing pertains to. I know it's our duty to learn the syllabus but for a beginner it gets really tough relating to which GS paper the topic relates to. Thanking you.
AA
since punjab is endowed with fertile soils and many rivers y there is a need to use ground water ///pls reply tnks for dna
Vishal Gaware
8 months ago
most of the farmers prefer groundwater irrigation, since some farms are not close to river the river water cannot reach their farms so they use groundwater. One solution can be to increase the canal network in Punjab.
AA
Amreen Amreen
8 months ago
hmm tnks
dna is very helpful for developing critical thinking for upsc mains and for pre
  1. Important News Articles (Taking Delhi/Noida edition as the base) tth Page 1: Downturn in ties with Maldives hits Indians' job opportunities Page 12 News: Indian job prospects in the Maldives hit Page 5: Heart surgeon seeks transparency in organ tranplantations Page 6 Nation: Paddy rule: farmers threaten stir if cases not withdrawn * Page 9 Nation: New norms for recruitment, promotion of college teachers lag Page 12 News: U.S. nod for six more Apaches Page 13 News: Nirav Modi's Indian passport a mystery Page 13 News: PNB and three dummy firms Page 13 News: National Dam Safety Authority in the works Page 13 News: Will lateral entry have quota: Paswan Page 14 World: N. Korea no longer a nuclear threat Page 14 World: Prabhu's visit fails to resolve issues Page 15 Business: Govt. may list AI after failed stake sale Page 15 Business: India, China discuss 'Oil Buyers Club' Page 15 Business: Fitch cuts SBI, Bank of Baroda viability ratings nt ay


  2. want teo he starting Page 6 Nation: Paddy rule: farmers threaten stir if cases not withdrawn. IGS Mains-3:Farmers' issues: Contemporary challenges in Agronomyl .Angry over registration of cases against farmers for flouting the State government's advisory at th against transplanting paddy saplings before June 20, farmer outfits in Punjab have threatened to launch an agitation against the authorities. reThe government should immediately withdraw the cases registered against the farmers. The farming tcommunity is already facing economic distress and in such a scenario filing cases against them . With an aim to preserve water and check the fast depleting groundwater table in the State, the would only add to their miseries. e ar Punjab government had this year asked farmers to start paddy transplantation after June 20 instead of June 15 ent .The government needs to understand that delay in transplanting paddy would cost the farmers dear. Delay in sowing means a delay in harvest. Paddy harvest usually takes place in October. At that time moisture starts setting in and if the harvest is delayed, the farmers would face difficulty in selling the crop due to high moisture content Cultivation cost Protests has been staged against the police action against farmers transplanting paddy saplings. Farmers are demanding immediate withdrawal of cases against them besides uninterrupted supply of at least eight-ten hours of power . tis


  3. want teo he starting Page 6 Nation: Paddy rule: farmers threaten stir if cases not withdrawn (contd Cultivation cost (contd. . Due to insufficient power supply, the farmers are forced to use generators to irrigate their fields at thh which has increased the cost of cultivation If the government wants to implement the decision of delayed paddy sowing then it should relax the condition of 17% moisture content during the sale of crops. The moisture content limit should be increased to at least 24%. he If the government does not heed to their demands, the farmers would be forced to launch an agitation against the government. Opposition attack . Opposition has condemned the registration of cases against at least five farmers in Ferozepur for e ar k h ent transplanting paddy before the June 20 deadline fixed by the Congress government. Former Minister said the government should talk to the farmers, listen to their problems and develop consensus on such issues instead of threatening them with police cases. tis that


  4. want teo he starting Page 9 Nation: New norms for recruitment, promotion of college teachers at thh The University Grants Commission (UGC) has brought out a new set of regulations to alter the conditions for recruitment and promotion of college and university teachers, so as to make universities more focussed on research and colleges on the teaching-learning process. For the first time, requirements for promotions measured through the API points till now, but in P future to be measured by grades, such as satisfactory, good and very good - have been made hedifferent for college and university teachers re While research will no longer be mandatory for college teachers for promotion, university promotions will offer weightage to research done. College teachers will be graded on teaching rather than research. However, teachers can still do research and earn higher grades for it e ar k h ent Other activities However, this won't be mandatory, for they can earn grades for other activities too - such as social u work, helping in adoption of a village, helping students in extra-curricular activities, contributing teaching material to Swayam, the MOOCS platform for online material The regulations had also made teaching hours flexible. It can help further the careers of college teachers, they will be able to become professors now . tis


  5. Page 12 News: U.S. nod for six more Apaches The U.S. State Department has approved the sale of six additional AH-64 Apache attack helicopters to tth India. The Army wil operate them. The State Department has made a determination approving a possible Foreign Military Sale to India of items in support of a proposed direct commercial sale of six AH-64E Apache helicopters for an estimated cost of $930 million IThe DSCA has delivered the required certification notifying the U.S. Congress of this possible sale. Last August, the Defence Ministry approved the procurement of six Apaches for the Army exercising the optional clause in the original deal signed with the U.S. in November 2015 Under the S3-billion deal, India had contracted 22 Apaches and 15 Chinook heavy-lift helicopters through the Foreign Military Sales (FMS) programme. lag . nt O Background: The case for inclusion of Combat, or Attack, Helicopters to be part and parcel of the Army dates back to 1963 when Gen JN Chaudhary, the then Chief of Army Staff (COAS), stressed the requirement for a separate air wing for the Army He had emphasised that efforts at increasing the firepower and mobility of the Army would not be complete without an integral aviation element comprising light, medium, heavy as well as armed/attaclk helicopters. Finally, after vacillating for decades, it was on October 12, 2012 that the Government took the call on the crucial issue ofthe ownership and operations ofAttack Helicopters in favour ofthe Army. In addition to aircraft, the contract includes night vision sensors, GPS guidance and hundreds of Hellfire anti-armor and Stinger air-to-air missiles. . ay .


  6. want teo he starting Although the first 22 Apaches are to stay with IAF, the new acquisitions will be owned, operated iy and maintained by the Army. Though late in coming, the decision was a welcome step for the Army and would have a major impact on war fighting in the Tactical Battle Area (TBA).This lethal weapon system as part of Army's inventory is expected to greatly enhance its capability, making it a battle winning factor in any future conflict. The Army had also demanded that the 22 Apaches for the IAF should also be transferred to it but he IAF has held that it has to have them as part of its control over the Indian skies and also to Ner the bu . The Danst is karius.eriade o complement its various aerial assets, particularly for Combat Search and rescue (CSAR) The Ministry of Defence agreed with this view. pe an nk h pu stay eksa par een tho


  7. want teo he starting Page 13 News: PNB and three dummy firms at thh Diamond merchant Nirav Modi was the personal beneficiary of 137.33 crore paid by Punjab National Bank (PNB) from three dummy companies and also an indirect recipient of letter of undertaking (LoU) funds, says a complaint filed by the Enforcement Directorate. The LoUs issued in 2017 became due in January 2018, and the scam came to the fore since the new officials posted at the PNB Brady House branch refused to issue new LoUs without the requisite documents and sanctions, resulting in subsequent default in the repayment by the said three firms. Initially, the LoUs were issued for smaller durations for three months. However, it was later changed to 360 days in order to gain maximum benefit out of these dealings. te he It is seen that the repayments towards previous LoUs were made either by diverting money received 2240.63 crore was transferred to Firestar Group Companies from Axis Bank accounts ofthe three e ar from some other LoU or by creating more and more LoUs, whereby increasing the exposure ent firms, namely, Diamond R US, Solar Exports and Stellar Diamond. From the credits in PNB accounts of the three firms, it has come to light that out of the said 2,240.53 crore which was transferred to Firestar Group, run by Modi, 2,076.06 crore was further sent to the PNB accounts for payment to earlier LOUs, completing a full circle. .Modi has been paid 137.33 crore from the three dummy companies and therefore is an indirect recipient of the LoU funds and 1,302 crore was received in PNB accounts of the three companies from other sources. tis


  8. want teo he starting Page 13 News: PNB and three dummy firms (contd.) .A total of R12,655 crore was paid to banks from PNB accounts to settle the earlier issued LoUs, it at thh says. The ED has searched Mr. Modi's companies: two in Delhi, seven in Surat, five in Mumbai, and one in Jaipur. .It found various assets including raw gold, diamonds, pearls, precious stones and much more. The total seizure value as per the books is more than 31,785 crore while the worth as per the valuation report is around 489 crore. Last year, approximately 100-150 LoUs were issued to Modi's group companies of around crore. he 5,000 e ar k h ent Dummy corporation or dummy company: . It is an entity created to serve as a front or cover for one or more companies. It can have the appearance of being real (logo, website, and sometimes employing actual staff), but lacksu the capacity to function independently. The dummy corporation's sole purpose is to protect "an individual or another corporation from liability in either contract or import" Dummy companies are established in an international location, usually by the "attorney or bagman" of the creator in order to conceal the true owner of the often-illegitimate and empty company . tis that


  9. want teo he starting Page 13 News: National Dam Safety Authority in the works at thh . The Union Cabinet, chaired by Prime Minister, has approved a proposal for introduction of the Dam . The Bill envisages a National Dam Safety Authority, which will liaise with State-level dam safety The NDSA will investigate dam failures and have the authority to fine the States that are found It will look into "unresolved points of issue" between the States which share dam territory and look A case in point is the Mullaperivar dam in Kerala, which is a perennial flashpoint between the State Safety Bill, 2018 in Parliament. organisations and the owners of dams for standardising safety-related data and practices heremiss in implementing safety measures. to eliminating potential causes for inter-State conflicts. e ar and neighbouring Tamil Nadu The Chennai floods of 2015 due to unusually heavy rain were thought to have been compounded by an unprecedented release of water from the Chembarambakkam dam into the Adyar Due to lack of legal and institutional architecture for dam safety in India, dam safety is a perennial. concern ent tis that


  10. want teo he starting Page 13 News: Will lateral entry have quota: Paswan .Will there be reservation in the Centre's new scheme of lateral entry to the bureaucracy? at thh Union Minister posed this question during a meeting of a Group of Ministers on Dalit issues . The group met to discuss the confusion over the Supreme Court order on reservation in promotions for Scheduled Castes and Scheduled Tribes Minister asked if the government would follow the reservation policy while allowing lateral recruitment of 10 "outstanding" individuals at the level of Joint Secretary he The government had not thought on those lines. The meeting was held to clarify if the Supreme Court order applied to the States too There is no room for confusion, the court order is clear, the order is applicable to the State governments too. The Department for Personnel and Training has been told to sent out directions soon to the State governments e ar k h ent . On the delay in issuing an ordinance to restore certain provisions to the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act following a Supreme Court order. Whenever the government wants it will be issued. tis that


  11. want teo he starting Page 14 World: N. Korea no longer a nuclear threat . North Korea no longer poses a nuclear threat, nor is it the "biggest and most dangerous problem" at th for the United States, U.S. President Donald Trump said on his return from a summit in Singapore with North Korean leader Kim Jon-un Everybody can now feel much safer, there is no longer a nuclear threat from North Korea. Meeting with North Korea was an interesting and very positive experience. North Korea has great potential for the future After the summit U.S. is thinking to lift sanctions against the North but not immediately. North Korean state media lauded the summit as a resounding success he U.S. expressed an intention to halt U.S.-South Korea military exercises while North Korea e ar k h ent negotiated on denuclearization and offer security guarantees to the North and lift sanctions against it as relations improve. Both the leaders invited each other to their respective countries and they "gladly accepted". All parties sould "grasp the moment of positive changes" on the peninsula to take constructive steps towards a political resolution and promoting denuclearisation. tis that


  12. want teo he starting Page 14 World: Prabhu's visit fails to resolve issues (contd. at thh Imagine what will happen if the U.S decides that U.S. data cannot be processed outside. The American industry has been "very bullish on India", it is concerned by "certain policy and regulations in recent months that inhibit trade and innovation in Indian economy Medical device companies are among the big investors in India in recent years. There is a large demand for medical devices in India he.The government of India wants consumers to get devices at fair prices. But the policy is misguided. "Not sustainable . It does not reduce the consumer price. It does not impact the mark-up prices. It artificially caps the* entry price for manufacturers. It is not sustainable for companies to bring innovative products. e ar k h ent The RBI guidelines on data localisation "creates constraints for companies" When supply chains and operations are global, this creates inhibitions to investment and innovation in India. Industry understand the concerns of the Indian government and is willing to work with it u on finding a resolution tis that


  13. want teo he starting Page 15 Business: India, China discuss 'Oil Buyers Club' . With oil producers' cartel OPEC playing havoc with prices, India discussed with China the at thh possibility of forming an 'oil buyers club' that can negotiate better terms with sellers as well as getting more U.S. crude oil to Asia to cut dominance of the oil block De-bottlenecking infra On the discussion table was de-bottlenecking infrastructure to facilitate more U.S. crude oil coming heto Asia so as to cut the dominance of the Organization of the Petroleum Exporting Countries (OPEC), which supplies about 60% of India's oil needs. Production cuts by OPEC have led to international oil prices hitting a four-year high last month that forced a 3.8 per litre raise in petrol and 3.38 a litre increase in diesel prices. Rates started to cool towards month end and retail prices have been cut thereafter. In a throwback to 2005 when the then oil minister Mani Shankar Aiyar had proposed an alliance of the oil consuming nations, Pradhan wants to form an oil buyers' club with China, Japan and South ur Korea to take up issues like premium being charged from Asian buyers ent .At the IEF meeting, India and China agreed to join hands to have a collective bargaining power against cartelisation of oil producers. Singh's visit was to take this forward with concrete proposals for cooperation. tis en thec


  14. want teo he starting Page 15 Business: India. China discuss 'Oil Buvers Club' (contd.) So far, India has not been able to bargain better rates from the Gulf-based producers of the oil at thh cartel, OPEC. Instead of getting a discount for bulk purchases, West Asian producers such as Saudi Arabia, charge a so-called 'Asian Premium' for shipments to Asian buyers, including India and Japan, as opposed to Europe. % he las :- international Energy Forum (1EF): . It is an inter-governmental, non-profit international organisation which aims to foster greater at mutual understanding and awareness of common energy interests among its members. k h ent .The 72 Member Countries of the Forum are signatories to the IEF Charter, which outlines the framework of the global energy dialogue through this inter-governmental arrangement The IEF is unique in that participants include IEA and OPEC countries, key international actors such as Brazil, China, India, Mexico, Russia, and South Africa. . The IEF member countries account for more than 90 percent of global oil and gas supply and demand. tis that


  15. want teo he starting Page 15 Business: Fitch cuts SBI,Bank of Baroda viability ratings at thh Ratings agency Fitch has downgraded viability ratings of State Bank of India and Bank of Baroda by a notch to 'bbt' and 'bb' respectively citing the lenders' weakened risk profile due to poor asset quality and the vulnerability of their capital buffers to moderate shocks . Eleven banks reported common equity Tier 1 ratios that fell short of the 8% requirement for Basel he.Capital generation is expected to remain weak, although many state banks should be able to recover Sector NPL ratios are closer to what we believe would be full recognition of legacy problems and . The ratings agency said Indian banks' solid and resilient funding and liquidity positions remained E III's final phase of capital migration from losses in FY19. Fitch has a 'negative sector outlook on Indian banks provision cover has improved. e ar k h ent intact and while deposit growth had slowed since demonetisation, depositor confidence remained high due to state banks' government ownership "This is evident in banks' retail deposit composition, which generally exceeds 80%. oun . tis that


  16. LT want teo he starting at thh he e ar k h that en thec