Current Affairs 2nd August 2019

Current Affairs 2nd August 2019 - Important Highlights

• ECB guidelines by easing end-use restrictions liberalised by - RBI
• Innovating for Clean Air initiative launched by UK and - India
• 22nd National Conference on e-Governance 2019 organised in - Meghalaya
• Nutrient Based Subsidy rates for PandK fertilizers approved by - CCEA
• ISRO Technical Liaison Unit at Moscow approved by - Cabinet
• Triple Talaq bill gets President's assent on - 31st July 2019

Current Affairs 2nd August 2019 - Details

ECB guidelines by easing end-use restrictions liberalised by - RBI

RBI has relaxed External Commercial Borrowing guidelines for corporates, Non-Banking lenders by easing end-use restrictions with concern to working capital, general corporate purpose and repayment of currency loans. This decision was taken following receiving feedback from shareholders for easing liquidity in the domestic market.
Recent changes by RBI

• End-use provisions for External Commercial Borrowings for both corporates and liquidity starved
  non-banking lenders has been liberalised.
• Liberalisation will be relevant to External Commercial Borrowings taken for general corporate
  purpose loans, working capital/repayment of currency loans.
• It consents suitable borrowers to raise External Commercial Borrowings from recognised lenders,
  except overseas branches and foreign subsidiaries of Indian banks, with least average maturity
  period of 10 years for working capital determinations and general corporate determinations.
• It also permits External Commercial Borrowings to rise with least average maturity period of seven
  years for repayment of currency loans availed domestically for capital expenditure.
• It also licenses borrowing for on-lending by NBFCs for above maturity and end-uses. It also licenses
  borrowings for on-lending by NBFCs for repayment of currency loans.
• It also allows corporate borrowers to enjoy External Commercial Borrowings for repaying currency
  loans taken for Capital expenditures if they are into infrastructure building or manufacturing and
  grouped as Special Mention Account/Non-Performing Asset, under any one-time settlement
  arrangement with lenders.

Innovating for Clean Air initiative launched by UK and - India

India and UK initiated 2 years combined initiative- Innovating for Clean Air n Bengaluru, capital of Karnataka. It is intended at providing unique air quality measurement system by assimilating satellite and sensor information and support India’s transition to Electric Vehicles.
Innovating for Clean Air (IfCA)

• It will recognize innovations having potential to recover air quality and contribute to extra detailed
  localised map of air quality of Bengaluru via unique combination of satellite and sensor information,
  including both on-the-ground and mobile information.
• It will recognise relevant challenges around Electric Vehicles-charging infrastructure, integrating
  renewable energy and grid management to make sure adequate, reliable and clean source of energy.
• It will also facilitate opportunities for Indian and United Kingdom innovators to cooperate in
  developing long-lasting ties to address these challenges.
  Participating bodies in programme
• It is headed by Innovate United Kingdom part of United Kingdom Research and Innovation and is
  sponsored by Newton Fund with matched resources from various important partners in Karnataka
  and India, like Indian Institute of Science, Enzen, Project Lithium, Confederation of Indian Industries, C40 Cities and Clean Air Platform.
• Its other partners comprise Indian Institute for Information Technology Bangalore, Citizens for Sustainability, World Resources Institute, Shakti Foundation, Shell Technology Centre, Global Business Inroads and India Smart Grid Forum.

22nd National Conference on e-Governance 2019 organised in - Meghalaya

The 22nd National Conference on e-Governance 2019 will be organised in Shillong, capital of Meghalaya. This will be for 1st time this mega knowledge sharing programme will be organized in the North-Eastern region of the nation.
22nd National Conference on e-Governance 2019

• Department of Administrative Reforms and Public Grievances in collaboration with Union Ministry of Electronics and Information Technology and Meghalaya State Government is organising this mega programme.
• It is being organised in Shillong is part of the Department of Administrative Reforms and Public Grievances’ 100 days initiatives.
• Theme of the conference is ‘Digital India: Success to Excellence’. Besides there will be talks organised on f5 sub-themes in plenary sessions during conference. 4 breakout sessions will be organised on the sub-themes.
• It will provide considerable momentum to e-Governance ingenuities in North east region, providing chances to civil servants and others to showcase their effective interventions in refining end-to-end service deliver.
• It will witness participation of as many as 28 states and 8 UTs and more than 450 delegates.
• Exhibition will be also organised on side-lines of this programme to demonstrate India’s accomplishments in the field of e-Governance, along with hall of fame or photo exhibition on the award winners.

Nutrient Based Subsidy rates for PandK fertilizers approved by - CCEA

Cabinet Committee on Economic Affairs led by PM has sanctioned proposal for fixation of Nutrient
Based Subsidy Rates for Phosphatic and Potassic Fertilizers for the year 2019-20. This proposal
was forwarded by Department of Fertilizers.
Nutrient Based Subsidy Rates 2019-20
This will enable producers and importers to solemnize supply contracts for fertilizers and fertilizer inputs. It will make fertilizers accessible to farmers in year 2019-20.
The predictable expenditure during 2019-20 period on emancipating subsidy on Phosphatic and
Potassic Fertilizers will be rs 22875.50 crore.
Did you know?
Union Government makes available Urea and 21 grades of Phosphatic and Potassic fertilizers to
farmers at discounted prices via fertilizer manufacturers or importers. This subvention on
Phosphatic and Potassic fertilizers is governed by Nutrient Based Subsidy Scheme.
More about Nutrient Based Subsidy (NBS)

• Under it, per-arranged amount of subsidy is finalised by Government on yearly basis and is delivered on each grade of subsidized Phosphatic and Potassic fertilizers, except for Urea, based on the nutrient content present in them.
• It was initiated 2010 and is being executed by Department of Fertilizers, under Ministry of Fertilizers.

Objectives
(i) To make sure adequate quantity of Phosphatic and Potassic is available at farmer’s disposal at statutory controlled amounts.
(ii) To make sure balanced usage of fertilizers for refining agricultural productivity, promoting growth of indigenous fertilizers industry and also dropping burden of subsidy.
It is largely meant for secondary nutrients including N, P, S and K and micronutrients which are very
important for crop growth and development. It is executed with expectation that it will promote balanced fertilization of soil, which will result into increased agricultural productivity and subsequently better returns to the farmers.

ISRO Technical Liaison Unit at Moscow approved by - Cabinet

Union Cabinet led by PM Narendra Modi has authorized formation of Indian Space Research Organisation Technical Liaison Unit at Moscow, Russia. It is mandated to cooperate with Space
agencies and industries in Russia and neighbouring nations for mutually synergetic outcomes. It will
enable effective technical management for timely interventions on expanded matters with Russia
and neighbouring nations for realization of the programmatic goals of Indian Space Research
Organisation.
This will be 3rd such Technical Liaison Unit. Department of Space already has introduced technical Liaison Units, namely Indian Space Research Organisation Technical Liaison Units at Washington, USA and Paris, France with major impartial to liaise with various Government and space agencies in United States and Europe, respectively.

ISRO Technical Liaison Unit (ITLU) at -  Moscow

• Implementation of ITLU Moscow office will be accomplished by Indian Space Research Organisation Scientist or Engineer who will be selected as Counsellor on deputation.
• He or she will be deputed from Indian Space Research Organisation and will be supported by staff locally sourced.
• Liaison Officer will be deputed at ISRO Technical Liaison Unit from Indian Space Research Organisation to issue technical information about progress in research and technology and inputs arising from their meetings with researchers, government interventions and industries in the  respective nations.
• Indian Space Research Organisation will be able to cooperate with Space agencies or industries in Russia and neighbouring nations for mutually synergetic outcomes.
• It will deliver obligatory technological support to Indian Space Research Organisation’s Gaganyaan program which needs development of some of the significant technologies and formation of specialized facilities indispensable to support life in space. It will sustenance ongoing bilateral programs of collaboration in space technology and act on behalf of Indian Space Research Organisation.
• It is judicious for IRO to avail technical collaboration from International space agencies, who have already established their technical capabilities in specific areas keeping in view 15th August, 2022 timeline for realization of Gaganyaan human space program.
• Russia is one of the space faring nations, thus it is envisioned to cooperate with Russia extensively in various fields of significance.
• They also support ongoing bilateral programs of assistance in space technology and act on behalf of Indian Space Research Organisation on the matters referred.

Triple Talaq bill gets President's assent on - 31st July 2019

The Triple Talaq Bill/Muslim Women (Protection of Rights on Marriage) Bill, 2019 received
President Ram Nath Kovind’s acceptance on July 31st, 2019. The bill has now become a law.
Salient Features of Bill

• Protect rights of married Muslim women and make sure gender equality and gender justice to Muslim women by announcing practice of triple talaq as void and illegal that means it is not enforceable in law and preprogramme divorce by practice of ‘talaq-e-biddat’ by their husbands.
  It defines talaq or any other same form of talaq noticeable by Muslim man resulting in instant and
  irreversible divorce.
• It defines Talaq-e-biddat as practice under Muslim personal laws, as pronouncement of word ‘talaq’ by Muslim husband 3-times in single sitting to his wife, resulting in instant and irreversible divorce.
  Offence and Penalty
• It makes this crime punishable with imprisonment up to three years and fine. It also announces all
  declaration of talaq, including in written/electronic form including email, text message etc, to be
  void and illegitimate.
• It suggests to make offence cognizable, if data relating to commission of a crime is given to police
  officer by married Muslim woman upon whom talaq is noticeable/by any person related to her by
  blood or marriage.
• It makes offence compoundable with consent of Magistrate at the instance of the married Muslim
  woman upon whom talaq is obvious. It further issues for hearing married Muslim woman upon whom talaq is noticeable, before suspect is released on bail by Magistrate.
  Allowance
• It also announces for payment of subsistence allowance, to be gritty by Magistrate, to married
  Muslim women against whom talaq has been acknowledged and dependent children. The amount of
  stipend will be determined by Magistrate.
• It permits Muslim woman against whom such talaq has been announced to pursue custody of her
  minor children. In this case, Magistrate is authorized to determine manner of custody.