Current Affairs for NDA, CDS, AFCAT, Airforce X&Y Groups – News
Analysis from THE HINDU (January 31, 2019)
FOR YOUR DAILY DOSE OF CURRENT AFFAIRS FROM “THE HINDU”,
1. ICICI Bank sacks Chanda Kochhar
The ICICI Bank has decided to terminate the contract of
former managing director and CEO Chanda Kochhar after the B.N. Srikrishna panel
found that she violated the bank’s code of conduct.
The bank also said there would be a clawback of bonuses paid
between 2009 and 2019.
In June last year, the bank formed the one-member panel,
assisted by a law firm, to look into the allegations of conflict of interest
against Ms. Kochhar in relation to a loan given to Videocon Industries.
According to a bank statement, the Srikrishna panel report
concluded that primarily on account of ineffectively dealing with conflict of
interest and due disclosure or recusal requirements, Ms. Kochhar was in
violation of the ICICI Bank Code of Conduct, its framework for dealing with
conflict of interest and fiduciary duties, and in terms of applicable Indian
laws, rules and regulations.
Ms. Kochhar, who assumed charge as MD and CEO on May 1,
2009, resigned in October last year.
2. Centre hikes scholarships
The Centre has hiked its popular research scholarship —
called the Junior Research Fellowship — to ₹31,000 per month, a roughly 25%
increase from the existing ₹25,000.
For months, research scholars across India have organised
protests demanding that the scholarship be hiked as the stipend hadn’t been
revised since 2014.
A Wednesday communiqué from the Department of Science and
Technology, which was coordinating the exercise, said that the Senior Research
Fellowships (SRF), given to research students two years into their doctoral
studies, had been hiked to ₹35,000 per month. Stipends for Research Assistants
(who are pursuing post doctoral studies and have at least three years of
research experience) would range from ₹47,000 to ₹54,000 per month. In
percentage terms, this is the lowest hike since 2010.
3. SC begins automatic listing of fresh cases
The Supreme Court on Wednesday launched its new system of
automatic listing of fresh cases within three to seven days in a bid to do away
with the system of mentioning of matters for urgent listing every day.
Chief Justice of India Ranjan Gogoi had on January 23 said
the Supreme Court was devising a mechanism to do away with the process of
mentioning of pleas and to ensure automatic listing of fresh cases for hearing
soon after being filed.
“Fresh matters verified on Friday in the post lunch session,
Saturday, Monday and Tuesday in the pre-lunch session i.e. up to 1 p.m. shall
be listed on Friday in the same week and those verified on Tuesday in the post
lunch session, Wednesday, Thursday and Friday in the pre-lunch session i.e. up
to 1 p.m. be listed on Monday in the next week,” said a circular.
The new mechanism will come into effect on February 4. The
circular further said that final cause list of cases for Monday shall be
published/uploaded on the website on prior Friday.
It said the list of business for Friday would be uploaded on
Tuesday in the same week.
4. RS to screen Hindi films for non-Hindi speakers
On recommendation of two south Indian leaders,
Vice-President and Rajya Sabha Chairman M. Venkaiah Naidu and its former Deputy
Chairman P.J. Kurien, the Upper House is going to screen a series of popular
Hindi films to acquaint non-Hindi speaking members and staff with the language.
An invitation issued by the Rajya Sabha secretariat, signed
by additional director and chairman of the Rajya Sabha secretariat Employees’
Recreation Club J.M. Bhardwaj, says, “The honourable Chairman Rajya Sabha has
desired to show good Hindi movies to promote Hindi language among non-Hindi
speaking members and staff.”
The first movie to be screened, incidentally, features
former Rajya Sabha member Nargis: Mother India. It will be shown on February 1.
5. Goa Shipyard to build two Talwar stealth frigates
The Navy has signed a contract with Goa Shipyard Ltd. for
construction of two stealth frigates scheduled to be delivered in June and
December of 2026. These are part of the four Talwar stealth frigates from
Russia under an Inter-Governmental Agreement.
6. Beveridge curve
This refers to a graphical representation that shows the
relationship between the unemployment rate (on the horizontal axis) and the job
vacancy rate (on the vertical axis) in an economy. It is named after British
economist William Beveridge. The Beveridge curve usually slopes downwards
because times when there is high job vacancy in an economy are also marked by
relatively low unemployment since companies may actually be actively looking to
hire new people. By the same logic, a low job vacancy rate usually corresponds
with high unemployment as companies may not be looking to hire many people in
7. Saudi Crown Prince to visit in February
The Crown Prince of Saudi Arabia Mohammed Bin Salman is
expected undertake his first visit to India in February, sources have
The visit comes months after the Crown Prince had sought
dialogue between India and Pakistan. He is expected in the third week of
February. In recent years, Saudi Arabia has sent out positive messages to
At the annual cultural event of Janadriya, the Kingdom chose
India as the ‘Guest of Honour’ in 2018. External Affairs Minister Sushma Swaraj
participated in the festival. The upcoming visit is noteworthy as it will take
place in the same month that Prime Minister of Israel, Benjamin Netanyahu,
another important partner of India in the volatile West Asia region, is
expected to visit.
8. MPs back May to renegotiate Brexit deal but EU says ‘no’
British Prime Minister Theresa May has said that she will
return to talks with the European Union (EU), and will attempt to renegotiate
Britain’s withdrawal agreement, after MPs narrowly voted to endorse a plan to
renegotiate the controversial Irish backstop.
However, with the EU firmly insisting that the withdrawal
agreement is not open to negotiation, the path ahead remains unclear. The
Labour Party has also agreed to hold talks with the government over Brexit
after MPs supported a non-binding resolution that opposes Britain leaving the
EU without a deal, even as one resolution that would have given Parliament the
means to rule out ‘no deal’ was rejected. Ms. May has insisted that crashing
out without a deal remains on the table.
Mahatma Gandhi National Rural Employment Guarantee Act
National Statistical Commission (NSC)
10. Things to Remember:
Cabinet Secretary P.K. Sinha
Chief Justice of India Ranjan Gogoi
11. Improve your Vocabulary:
Meaning – Express sharp disapproval or criticism of
(someone) because of their behaviour or actions
Example – ‘the judge publicly rebuked the jury’
Synonyms – reprimand, reproach, scold, admonish, reprove,
remonstrate with, chastise, chide, upbraid, berate, take to task, pull up,
castigate, lambaste, read someone the riot act, give someone a piece of one’s
mind, haul over the coals, criticize, censure