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29th June 2018 Part-1: Daily News Analysis
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Swiss bank deposits from India increase

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

U
Unacademy user
Hello friends, I will be taking a Live session on youtube channel tonite at 10PM to address all the doubts about Daily News Analysis. The Link for Youtube Channel is: https://www.youtube.com/channel/UCACCN7P7a6DN8_vdN1F840A
Alpine plants are plants that grow in an alpine climate, which occurs at high elevation and above the tree line. it grow together as a plant community in alpine tundra. these are not a single taxon. Rather, many different plant species live in the alpine environment. These include perennial grasses, sedges, forbs, cushion plants, mosses, and lichens.Alpine plants must adapt to the harsh conditions of the alpine environment, which include low temperatures, dryness, ultraviolet radiation, and a short growing season.
Alpine forests are found in mountainous regions of the world they lie between 3000mts and the place where the snowline of a mountain begins Examples himalayas,alps,American cordillera,Scandinavian mountains,caucasus,pyrenees,rift mountains of Africa and Tibetan plateau
Alpine plants occur in a tundra: a type of natural region or biome that does not contain trees. Alpine tundra occurs in mountains worldwide. It transitions to subalpine forests below the tree line; stunted forests occurring at the forest-tundra ecotone are known as Krummholz.
Rajat Bhardwaj
8 months ago
he is asking for alpine nation's not plants .
Sir I have query regarding “Duration of current affairs to be read for Prelims 2019” Does UPSC ask questions from Jan2018 to May2019 or it is June2018-May2019!! Please answer this !
Parineet Bihan
8 months ago
It is highly unlikely, but need to read newspaper efficiently...
Pargat Singh
8 months ago
question can be asked even from april or may 2018 ..but its better to cover one year of current affairs
  1. for Monday'ganw forward to reWARMING GLOBAL look forward toit Wakort has Daily News Analysis top start sea ar stacea thi Parliamentary Committees ris DealTHE HINDU, ha Judicial Over-reach pho reve1 he gay po licy Indian express, Tol, Livemint for 29th June, 2018 . CAG Slams Govt. ayIut hadhe Oliver &for nanded by many a that Khan also a puralso Daily News Analysis Legislative Adventurism been no witact Troim austrial Productio that it written to fr financial crisis a puu Meltdown China's Belt & Road Is there a need for Stimulus By Jatin Verma


  2. To access Searching for "jatin verma" - Daily Editorials EDUCATORS DNA - PIB Summary MCQs You can follow me Jatin Verma Mahesh Verma on Unacademy Facebook ID: jatinverma0509 unacader


  3. ant teo the LT to Important News Articles Taking Delhi/Noida edition as the base it th Page 13 Business News: India least vulnerable to stronger U.S. dollar Page 13 Business News: RBI steps in as rupee hits record low Page 13 Business News: No extra edge, only a level playing field re Page 13 Business News: Engineering goods exporters hit by rupee yoyo Page 1: Indian money in Swiss banks surges Page 13 Business News: Indians, Swiss bank stash tops 7,000 cr. Page 1: Revise relations with Iran, Haley tells India Page 1: Ailing centurion returns home from Assam detention camp Page 2 East News: Mizoram Assembly opposes Bill Page 6 Nation News: Battle over Bankim Chandra in Bengal Page 7 Nation News: Rising temperature to cut living standards Page 10 News: Parliament must overturn SC ruling Page 10 News: Floods delay release of NRC draft Page 11 News: Old Versus New Page 11 News: Sluggish start to Amarnath yatra Page 11 News: Kharif sowing on, but no word on MSPs, lay e an ent LI ck e ind stay Ies


  4. ant teo the Important News Articles (Taking Delhi/Noida edition as the base) it th Page 12 World News: 2+2 postponed due to scheduling issue Page 12 World News: U.K. defends use of controversial rule Page 12 World News: India shouldn't meddle with our political affairs Page 14 Business News: Hyderabad may house first government blockchain eentre lay e an ent LI ck e ind stay by


  5. to Data Point Pakistan Brazil Mexico Indonesia Philippines India Russia South Africa Hungary 15.88 -13.72 11.05 -6.34 -6.29 -6.19 -6.04 5.54 2017 to 2018. 3.17 -0.55 -0.27 at thh Trends in Global Currency The Rupee on Thursday, fell to a historic low of 691 against the U.S. dollar. The chart shows the % change in currency value from June he The currencies of several emerging economies Peru have been on the decline against U.S. dollar Poland in the past year, With Pakistan & Brazil registering the biggest annual decline. Qatar and UAE registered no change. Malaysia and Czech Republic registered the highest increase k h Qatar UAE South Korea Thailand China Chile Colombia Czech Republic Malaysia 0 0 +1.87 +2.86 +3.0 +3.3 +3.34 +4.14 +6.28 SOURCE: IMF, WORLD BANK se tis that en thec


  6. want te be starti Page-: Indian money in Swiss banks surges IGSM-3: Economy: Money Launderingl Money parked by Indians in Swiss banks rose over 50% to Swiss Francs (CHF) 1.01 billion ( 7,000 th 7, reversing a three-year downward trend amid India's clampdown on suspected blaclk money stashed there. According to the official annual data released on June 28 by Swiss National Bank (SNB), "In comparison, the total funds held by all foreign clients of Swiss banks rose about 3% to CHF 1.46 trillion or about 100 lakh crore in 2017, the central banking authority ofthe Alpine nation . me The surge in Indian money held with Swiss banks comes as a surprise given India's continuing clampdown on suspected black money stashed abroad, including in banks of Switzerland that used to be known for their famed secrecy walls for years The Indian money in Swiss banks had fallen by 45% in 2016, marking their biggest ever yearly plunge, to CHF676 million (about 4,500 crore) the lowest ever since the European nation began making the data public in 1987. According to the SNB data, the total funds held by Indians directly with Swiss banks rose to CHF999 million Swiss franc (R6,891 crore) in 2017, while the same held through fiduciaries or wealth managers increased to CHF 16.2 million (112 crore). These figures stood at CHF664.8 million and CHF11 million. respectively, at the end of 2016 Indian money in Swiss banks included other banks & 2,640 crore as 'other liabilities, such as securities at the end of 201 7 Funds under all three heads have risen sharply, as against a huge plunge across all categories in the previous 3,200 crore in the form ofcustomer deposits, 1,050 crore through . ear


  7. want to te starting The funds held through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown The total funds held by Indians with Swiss banks stood at a record high of 23,000 crore at 2006- end, but came down to nearly one-tenth of that level in about a decade. Since those record levels, this is only the third time when there has been a rise in Indians' money in Swiss banks-in 2011 (12%), 2013 (43%) and now in 2017 by 50.2%-the maximum increase since 5690 way back in 2004 Automatic information Exchange Agreement: The latest data from Zurich-based SNB comes months after a new framework having been put in place for automatic exchange of information between Switzerland and India to help check the black money menace. While Switzerland has already begun sharing foreign client details on evidence of wrongdoing provided by India and some other countries, it has agreed to further expand its cooperation on India's fight against There were several rounds of discussions between Indian and Swiss government officials on the new framework and also for expediting the pending information requests about suspected illicit accounts of Indians in Swiss banks. The funds, described by SNB as liabilities'of Swiss banks or 'amounts due to' their clients, are the official figures disclosed by the Swiss authorities and do not indicate to the quantum of the much- debated alleged black money held by Indians there 2 black money with a new pact for automatic information exchange. ay


  8. SNB's official figures also do not include the money that Indians, NRIs or others might have in Swiss banks in the names of entities from different countries. Amid a decline seen in Indian money over the previous three years, there was a view that Indians who had allegedly parked their illicit money in Swiss banks in the past may have shifted the funds to other locations after a global crackdown began on the mighty banking secrecy practices in Switzerland Swiss banks have earlier said Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong amid stepped-up efforts to check the black money menace. Domestic Action: On directions of the Supreme Court, India had constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland A number of strategies were deployed by the government to combat the stash-funds menace, in both overseas and domestic domain, which included enactment of a new law, amendments in the Anti-Money Laundering Act, Benami Property Law, Demonetisation and compliance windows for people to declare their hidden assets. The Income Tax department had detected suspected black money post investigations on global leaks about Indians stashing funds abroad and has launched prosecution against hundreds of them, including those with accounts in the Geneva branch of HSBC 2 e an k h ent In 2015, the money held by Indians in Swiss banks had fallen by nearly one-third to CHF1,217.6 million (over 8,000 crore). Prior to that, these funds fell by 10% to CHF 1.8 billion in 2014, after a rise of43% in 2013 to CHF 2.03 billion. ksa


  9. want te be starti Question: Highlight the steps taken by Govt to curb the flow of Black money. Do you think that at th the steps taken by the Govt are yielding results. Examine V Automatic Exchange of Information Acts O Domestic arena: Revising Double Taxation Avoidance Agreemnts 2 Benami Property law Anti money laundering law Demonetisation Reducing corporate Tax Multi Agency Coordination: ED, IB, MHA Effective enforcement needed e an k h ent Further steps needed: Unless we bring about electoral reform [Politico-economy modell Funding of political parties Property law-> Linking Property details to Aadhar ksa by par even


  10. th Page-1 Revise relations with Iran, Haley tells India IGSM-2 : International Relations] . Calling Iran a "threat" to the world, U.S. envoy to the U.N. Nikki Haley said she had raised concerns over trade with Iran during her meeting with Prime Minister Narendra Modi on Wednesday President Donald Trump has said we need to hold Iran to account," she told an audience during an interaction hosted by the think-tank ORF in the capital, adding that Tehran's violations of its nuclear re commitments and alleged sponsorship of terrorism made it the "next North Korea." heWe are going to keep the pressure on Iran and we hope all other countries will join us. I did talk with Prime Minister Modi about this as well...the U.S. is going to work with our friends and allies to ensure that we are all pushing Iran to be an accountable neighbour. 32 In an interview to NDTV, Ms. Haley also called on India to "rethink its relationship with Iran." I think as a friend [of the U.S.] India should decide whether Iran is a country they want to continue doing business with," she said adding that her conversation with Mr. Modi had been a "constructive" one, The comments by Ms. Haley appear to be a part of a concerted campaign by the U.S. to ensure that India, Iran's second biggest oil-importer after China, cuts its oil trade. ay


  11. to age 13 Business News: India least vulnerable to stronger U.S. dollar at thh Moody's has suggested that India's low dependence on foreign currency borrowing, limits risks to the sovereign even if the Indian currency weakens by more than 7% against the dollar in 2018. Moody's stated that, "India's low dependence on foreign currency borrowing to fund its debt burden limits the risk of currency depreciation transmitting into materially weaker debt re affordability." The rupee hit an all-time intraday low against the dollar breaching the 69-a-dollar mark that prompted the central bank to intervene in the currency market by selling dollars through state- run banks. e ar k h ent Furthermore, Moody's suggested that, "while the current account deficit (CAD) had widened due to rising oil prices, it remained modest relative to the GDP and is largely financed by equity inflows, including foreign direct investment." Forex reserves India's significant build-up of foreign exchange reserves in recent vears to all-time highs, provides a support buffer to help mitigate external vulnerability risk," Moody's added. tis that en thec


  12. to Current Account Balance: at thh It consists of: i. The trade balance (the difference between total exports and total imports) ii. The net factor income (difference between the return on investments generated by citizens abroad and payments made to foreign investors domestically) piii. Net cash transfers, where all these elements are measured in the domestic currency he When a country's current account balance is positive (also known as incurring a surplus), the re country is a net lender to the rest of the world. > When a country's current account balance is negative (also known as running a deficit), the country s a net borrower from the rest of the world e ar k h > The ratio of the current account balance to the GDP (or % of GDP) provides an indication of the country's level of international competitiveness The Current Account Deficit: It is a measurement of a country's trade where the value of the goods and services it imports exceeds the value of the goods and services it exports. Current account includes net income, such as interest and dividends, and transfers, such as foreign aid, although these components make up only a small percentage of the total current account. The current account represents a country's foreign transactions and, like the capital account, is a component of a country's balance of payments., 8 33 tis


  13. Thank you Jatin Verma 155k Followers Follow Ratings & Reviews Roman Saini A great course by Jatin Verma where he has literally covered all the important news from The Hindu. Must watch. Mohit Rai If i achieve my aim, my first salary will go to this great individual making this great informative and well-researched videos. I should take this opportunity to thanlk and congratulate him for the wonderful work he is doing for all the aspirants. He is meticulous and almost perfect in his approach and understanding. Please keep making such videos as a single 26k Enrollments Enroll