Daily Newspaper article’s summary 2018-11-07

Daily Newspaper article’s summary 2018-11-07

Summary of Newspaper artciles from ‘The Hindu’, ‘Economic Times’ and PIB
ARISE IAS: Demystifying UPSC IAS exams

Wilful on defaulters? : on RBI:
1.Citing the apex court’s 2015 order, where the judges had directed the central bank to comply with the provisions of the RTI Act after observing that the “RBI has no legal duty to maximise the benefit of any public sector or private sector bank, and thus there is no relationship of ‘trust’ between them”, Mr. Acharyulu rhetorically asked how the rule of law could be secured if a regulator like the RBI would not “honour” a constitutional institution’s directions.
2.Mr. Acharyulu has justifiably asked the Finance Ministry why it should not explain to the people the action taken, or contemplated, to recover dues from wilful defaulters, who owe banks more than ₹50 crore, and, where warranted, the criminal proceedings initiated.
3.While it is no one’s argument that all large unpaid loans are by-products of mala fide borrowing, the onus is on the RBI and the government to make as clean a breast of it as is legally possible, in order to retain public trust.

The forgotten million: on Indian soldiers in World War I:
1.In France, the centenary celebrations of Armistice Day on November 11 will include the unveiling of the second overseas national war memorial for Indian soldiers, by Vice President M. Venkaiah Naidu.
2.Last month, British Prime Minister Theresa May pledged to wear a khadi poppy in honour of more than 74,000 soldiers from pre-Partition India who fought on the side of the allies and died in battle.
3.Yet far from the ceremonial pomp of officialdom is perhaps the most poignant symbol of how much ordinary Indian men enlisting in the colonial government’s Army gave of their lives to fight the German, Austro-Hungarian and Ottoman Empires: the British Library in London has received 1,000 pages of war-veteran interview transcripts recorded in the 1970s, which include details of the inhumane treatment, including floggings, denial of home leave, and brazenly racial-discriminatory treatment that 1.5 million mostly-illiterate men from northern India faced regularly within the allied forces army.

The long arm of the state:
1.In July, Fan Bingbing, one of China’s most well-known actresses, vanished for three months only to resurface with a statement in which she not only apologised for evading taxes but also underscored her loyalty to the CPC.
2.His reforms included lifting the ban on women driving, reintroducing public entertainment and curbing the power of the unpopular religious police.
3.His ambitious undertaking to wean the country off its dependence on oil income by building a $500 billion futuristic city in the desert was hailed by many, but his political instincts remain as autocratic as his predecessors: he locked up dozens of princes and business figures last year in a luxury hotel on charges of corruption and even detained Lebanese Prime Minister Saad Hariri and allegedly forced him to resign on television.

No respite from poverty for Muslims:
1.The course fee for upper primary education accounts for 8.5% of the yearly per capita spending for Muslims, followed by Hindus (7.4%), Christians (5.4%) and Sikhs (5.03%).
2.For example, the labour force participation rate (LFPR), defined as the number of persons either employed or seeking jobs, is significantly linked to the desire for work, which in turn is dependent upon educational attainment.
3.The signs of Indian Muslims being caught in a vicious circle of poverty are visible in terms of their low consumption expenditure and poor job market indicators, including LFPR, employment status, and worker population ratio.

The other side of Chhattisgarh:
1.Some sights added to these anxieties: Central Reserve Police Force patrolling the highway in columns of ten, some sitting behind foliage engrossed in their phones, anti-mine vehicles parked at intermittent distances, and our cab driver speaking endlessly about Naxalism.
2.As the photographer started clicking photos, she ran into her thatched hut to change into her best outfit: a white saree with orange flowers.
3.The villagers have to walk about 6 km that includes trekking across the forest, crossing over a crystal clear stream and hiking to cast their vote.

What’s in a name?:
1.Despite a change of name in Mughal times, Allahabad never ceased to host Hinduism’s holiest mass congregation, the once-in-12-years Prayag Kumbh Mela.
2.While these name switches make for a long list, we should not get carried away given how, despite several centuries of Islamic political domination of the subcontinent, so few of India’s towns and cities have been renamed.
3.It should be our collective endeavour, therefore, to protect the secularism we still have, by robustly challenging the ongoing effort to alarm and humiliate our country’s largest minority by trivialising the Taj or renaming Allahabad.

In defence of Urjit Patel:
1.The unfolding public falling-out between the Reserve Bank of India (RBI) and the Finance Ministry is post-liberalisation India’s nastiest such rift — that too when the two sparring sides are led by non-aggressive personalities.
2.The disagreements relate to the RBI’s stringent restrictions on government-run banks whose non-performing assets (NPAs) have grown so much, that the only way of preventing risk spilling from them into the whole financial system is to quarantine their lending.
3.The RBI is being blamed for the NPAs crisis — though at the height of public outrage over the Nirav Modi scam, the government dragged its feet on filling the vacancy of the Deputy Governor in charge of bank supervision and inspections.

Preserving the taboo:
1.The decision was not unexpected since the U.S. has long maintained that Russia has been violating the treaty and Mr. Trump has been critical of arms control agreements because, according to him, other countries cheat putting the U.S. at a disadvantage.
2.To reassure its North Atlantic Treaty Organisation (NATO) allies about its nuclear umbrella, the U.S. began deploying Pershing IIs and GLCMs in the U.K., Belgium, Italy and West Germany, setting off a new arms race.
3.The U.S. agreed, Europe breathed a sigh of relief and the INF was hailed as a great disarmament treaty even though no nuclear warheads were dismantled and similar range air-launched and sea-launched missiles were not constrained.

View: Lower interest rate encouraging investments may not always hold true:
1.By Madan Sabnavis An independent study of RBI argues that over a longer time period, higher interest rates and fiscal deficit drive down investments, which is in consonance with the view held by successive governments.
2.The important thing is that until capacity utilisation (CU) rates improve in the region of 78-80%, fresh investment won’t be undertaken in a big way across the industry spectrum.
3.The difference between return on advances and investment could be around 150 bps besides the MTM losses that have to be reckoned in a rising interest rate scenario which would be acceptable as there is no issue of NPAs (which are 10-12% today) which affect the bottom line more significantly.

Agriculture ministry gears up to start trade via e-NAM among seven states:
1.It enhances competition among the trade and leads to better prices for farmers,” said Sumanta Chaudhuri, managing director of the Small Farmers’ Agriculture Consortium, the implementation agency for the e-NAM project.
2.Trade in 585 mandis is currently happening on the electronic network, which helps discover price real time in a transparent manner.
3.Also, we are investing in machines to grade the quality of the produce depending on the size, colour, dust particles, moisture level and other parameters to help them in making a decision,” said the Nagarjuna executive.

PM offers prayers at Kedarnath Temple; takes an overview of progress of reconstruction projects:
1.PM offers prayers at Kedarnath Temple; takes an overview of progress of reconstruction projects On the occasion of Diwali, Prime Minister Narendra Modi visited Kedarnath today.
2.He extensively walked around the entire temple complex, where significant reconstruction works are in progress.
3.The Kedarnath Temple complex is currently the focus of a major development and reconstruction effort, following the severe flood and landslide that affected the region in 2013.

PM celebrates Diwali with jawans in Harsil, Uttarakhand:
1.The Prime Minister, Shri Narendra Modi, today celebrated Diwali with jawans of the Indian Army and ITBP, at Harsil in Uttarakhand.
2.Greeting the jawans on the occasion, the Prime Minister said that their devotion to duty in the remote icy heights, is enabling the strength of the nation, and securing the future and the dreams of 125 crore Indians.
3.The Prime Minister said that the Indian Armed Forces draw admiration and appreciation across the world, in UN peacekeeping operations.

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