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4th September Part-3: Daily News Analysis
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Rishab Arora
Graduate in Economics. Gold medal in Dissertation, Prepared various documents on Demonetisation and GST, Share-trading and many more

U
Unacademy user
sir Esme aur bhi questions karwayiye previous years ke questions Ko.........SBI po,ibps po....etc... thanks sir
Sure , I will do That
https://unacademy.com/lesson/sunday-special-us-iran-deal-in-hindi/QSZ0JTQW
yes sir plz explain LEMOA
Yes sir pls explain LEMOA
  1. Talks on for logistics deal with Russia India and Russia are in the process of concluding a logistics agreement, with both sides targeting to conclude consultations before the annual summit in October between Prime Minister Narendra Modi and Russian President Vladimir Putin The proposed agreement follows a series of such agreements India has signed since the first logistics agreement with the US. Draft from Moscow "A draft logistics agreement has come from Russia. At the end of July, the Ministry of Defence (MoD) had sent it to the Integrated Defence Staff and the three services for their comments," an official source with knowledge of the matter said. The Army and Navy have since sent back their observations on the draft. Another official said the agreement with Russia will be on the lines of those signed with the U.S. and France "The idea is to increase our operational flexibility and we thought we should do one with our long term partner Russia," another official source said.


  2. Short timeline * While the consultation process is on, officials are working against time to have the agreement ready by October. Logistics agreement .Administrative arrangements which give access to each other's .The logistics agreement with Russia will be on the lines of the one signed -N with the US, in August military facilities for fuel and rations between partner countries 2016 -Apart from this, India has concluded such agreements with France, . India and Russia have had deep military-to- military cooperation for several decades Oman, the Philippines, Singapore and Indonesia. Australia, too, has sent a draft agreement


  3. "Drafts are being readied. It is work in progress. Timelines are tight but we will try and aim for the October summit," the source stated. India signed the Logistics Exchange Memorandum of Understanding (LEMOA), with the U.S. in August 2016 after a decade of negotiations. Since then it has concluded several such agreements with France, Oman, Philippines, Singapore and for access to the Sabang port in Indonesia. Australia too has sent a draft agreement. Logistics agreements are administrative arrangements facilitating access to military facilities for exchange of fuel and provisions on mutual agreement simplifying logistical support and increasing operational turnaround of the military when operating away from India. Officials underscored the fact that India and Russia have had deep rooted military cooperation for several decades.


  4. Replace 'Dalit' with SC: I&B Ministry tells media (GS-1/2/3) (Page-11) The Information and Broadcasting Ministry has issued an advisory to all media outlets not to use the word "Dalit" to refer to people belonging to the Scheduled Castes. The advisory is based on an order of the Bombay High Court on June 6, based on a petition filed by Pankaj Meshram. It is advised that the media may refrain from using the nomenclature 'Dalit," the guideline said. In a circular on March 15 this year, the Ministry of Social Justice had issued a similar advisory to all State governments that all official communications should use the constitutional term Scheduled Caste instead of the word "Dalit".


  5. PSU refiners to use Iranian tankers for oil imports (GS-3) (Page-11) A. India will allow public sector refiners to import Iranian oil with Tehran arranging tankers and insurance after firms, including the country's top shipper Shipping Corp of India (SCI), halted voyages due to U.S. sanctions, sources said. New Delhi's attempt to keep Iranian oil flowing mirrors a step by China, where buyers are shifting nearly all their Iranian oil imports to vessels owned by National Iranian Tanker Co (NITC). The moves by the two top buyers of Iranian crude indicate that the Islamic Republic may not be fully cut off from global oil markets from November, when U.S. sanctions against Tehran's petroleum sector are due to kick in. U.S. President Donald Trump ordered the re-imposition of economic curbs after withdrawing the U.S. from a 2015 nuclear deal between Iran and six world powers. No one trading with Iran will do business with America, he said. Insurers back away We have the same situation (as most Western shippers) because there is no cover, so we cannot go (to Iran)," an SCI official said.


  6. New Delhi turned to the NITC fleet after most insurers and re-insurers had begun winding down services for Iran, wanting to avoid falling foul of the sanctions given their large exposure to the United States. SCI had a contract until August to import Iranian oil for Mangalore Refinery and Petrochemicals Ltd (MRPL), two sources familiar with the matter said. Eurotankers, which had a deal with MRPL to import two Iranian oil cargoes every month, has also said it cannot undertake Iranian voyages from September, the sources said. S. The sources spoke on condition of anonymity as they were not allowed to talk to the media about commercial deals. "The Shipping Ministry has given refiners permission to buy Iranian oil on a CIF (cost, insurance and freight) basis," a government source said. Under a CIF arrangement, Iran would provide shipping and insurance, enabling Indian refiners to continue purchases of the country's oil despite the non-availability of cover from Western insurers due to the restrictions imposed by Washington.


  7. The move would benefit Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and MRPL, which plan to lift Iranian cargoes during the rest of the fiscal year. India wants to continue buying oil from Iran as Tehran is offering almost free shipping and an extended credit period. . State refiners, which drove India's July imports of Iranian oil to a record 768,000 barrels per day, had planned to nearly double oil imports from Iran in 2018/19. Unlike their private peers, India's state-run refiners need government permission to import oil on a delivered, or CIF basis. Federal policy requires them to favour Indian insurers and shippers by buying only on a free on board (FOB) basis. The permission for CIF purchases applies only to existing annual contracts with Iran, the government source said. India, Iran's top oil client after China, will finalise its strategy on crude purchases from Tehran after a meeting with top US. officials this week, a senior government official told Reuters last week. 2. SCI, Eurotankers, the shipping ministry, MRPL, IOC and BPCL did not respond to Reuters emails seeking comment.


  8. India, Cyprus vow to curb money laundering (GS-2/3) (Page-11) India and Cyprus on Monday signed two agreements on combating money laundering and cooperation in the field of nt as President Ram Nath Kovind met his Cypriot counterpart Nicos Anastasiades and held wide-ranging talks here. Mr. Kovind is in Cyprus on the first leg of his three-nation visit to Europe to continue India's high-level engagements with European countries. Economic cooperation Mr. Kovind and Mr. Anastasiades exchanged views on economic cooperation. India was the fastest growing major economy in the world today with a growth rate of 8.2% last quarter, Mr. Kovind said. . "In this context and given Cyprus, niche expertise in financial services and investment banking, both of us agreed that there was much scope to deepen our investment partnership." he said in a statement. "We welcomed the signing of the MoU between Financial Intelligence Unit, India, and Unit for Combating Money Laundering of Cyprus.


  9. . "This agreement would further strengthen the institutional framework to facilitate investment cross-flows We also emphasised that the revision in the Double Taxation Avoidance Agreement made in 2016 provided greater opportunities for our investment partnership to grow," Mr. Kovind said. External Affairs Ministry spokesperson Raveesh Kumar said in a tweet:"India and Cyprus signed two MoUs [memoranda of understanding] today on combating money laundering and cooperation in the field of environment in the presence of Presidents of both countries." Mr. Kovind and MrAnastasiades held discussions on issues of mutual interest, including promotion of business collaboration in the fields of IT and IT-enabled services, tourism, shipping and renewable energy, Mr. Kumar said. "President Anastasiades and I held detailed discussions on the way forward for our long-standing and excellent relations. I reaffirmed India's unwavering support to Cyprus for upholding its sovereignty and territorial integrity.


  10. Global issues "We reviewed our ongoing bilateral and multi-lateral engagements and discussed issues of regional and global concern. We underlined our common objectives to negotiate the challenges that lie ahead And we committed ourselves to further step-up our mutually beneficial ties, especially in the economic field," Mr. Kovind said in the statement. * The President also paid tributes to a statue of Mahatma Gandhi "our founding fathers,Archbishop Makarios and Mahatma Gandhi have blessed our partnership with timeless values, wisdom and foresight. We have the greatest respect for Archbishop Makarios in India," Mr. Kovind said