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Current Affairs 2017

Edappadi Palaniswami sworn in as Tamil Nadu Chief Minister

Tamil Nadu, Governor Ch. Vidyasagar Rao on 16th February evening administered the oath of office to Edappadi K. Palaniswami as the 13th Chief Minister along with a Council of 30 Ministers.

Employment News

192 Pet PI ASC Pin-905192 C/o 56, Jhansi invites applications for Fireman 09 posts (UR-07, OBC-01, SC-01) Refer website or Employment News dated 18-24 Feb 2017...

What is the Indo-US Civilian Nuclear Deal?

India and the United States signed a landmark deal in October 2008, which allows India access to US civil nuclear fuel and technology. What is it that makes this deal so significant? How does India stand to gain from it ? Here are some answers to these questions :

What is the Indo-U.S. Civilian Nuclear Deal ?

This is a deal between India and the United States for civil nuclear cooperation. Under this agreement, the United States can sell civilian nuclear fuel and technology to India. India in turn, has to separate its civil and military nuclear facilities and place all its civil nuclear facilities under International Atomic Energy Association (IAEA) inspection. The accord took three years to be finalized, during which it went through a series of complex stages that included amendment of U.S. domestic law, formulation of a civil-military nuclear separation plan in India, an India-IAEA safeguards (inspections) agreement and the grant of an exemption for India by the Nuclear Suppliers' Group (NSG).

What are the Hyde Act and the 123 Agreement ?

Under Section 123 of its Atomic Energy Act, the United States can enter into civilian nuclear trade only with those countries that have signed the NPT and CTBT. India has signed neither treaty. Further, after its first nuclear test in 1974, the United States had placed a ban on the supply of nuclear fuel and technology to India. In order to sign the present deal, the section 123 of the Atomic Energy Act needed to be amended. The Hyde Act 2006, a domestic Act of the United States, was accordingly brought in to amend this Section and provide a legal framework for a 123 Agreement with India. With this agreement India becomes the only non-NPT/CTBT signatory to have signed the 123 Agreement with the United States.

Who are the Nuclear Suppliers Group ?

Nuclear Suppliers Group (NSG) is a 45 nation body concerned with reducing nuclear proliferation by controlling trade in nuclear fuel and technology. Their policies had so far kept India out of bounds of international nuclear trade as it has not signed the NPT and CTBT. Some countries in the NSG had misgivings about giving India the unprecedented waiver of carrying on international civil nuclear trade even without signing the NPT, but the approval finally came through keeping in view India's strong non-proliferation records, and its voluntary declaration of "no first use" of nuclear weapons.

What does India get from the Agreement ?

Indo-US Civil nuclear deal has paved the way for the growth of the nuclear power sector in India, which has so far been plagued by shortages of nuclear fuel. India has limited reserves of Uranium, which is the crucial fuel needed at the present stage of our nuclear power programme. Due to the shortage of uranium, India's nuclear power generation is only about 1800 Mw against an installed capacity of 4120 Mw. With the present agreement, which is valid for 40 years and extendable by another 10 years, India hopes to address this fuel shortage. Under this agreement the US is committed to ensure uninterrupted fuel supply to safeguard Indian reactors and create strategic fuel reserves for them, and also work with other NSG countries to ensure supply of nuclear fuel to India. The ambit of the deal includes research, development, design, construction, operation, maintenance and use of nuclear reactors, reactor experiments and decommissioning. To ensure smoothness, the agreement provides for elaborate consultations between the two parties in the event of either side wanting to terminate the deal before its normal time.

Further, the agreement also lays down the clause of "non-interference " in India's strategic programme. Thus, the Indian nuclear power programme stands to get a much needed push without any threat to its strategic programme.

And what does India give?

As part of the bargain India has agreed for separation of its nuclear facilities, placing the civilian facilities under IAEA safeguards in perpetuity. The safeguard is aimed at ensuring that the nuclear material or technology brought in for civilian purposes is not diverted for military use. Out of its 22 operating/under construction nuclear facilities, India will place 14 under IAEA safeguard.

Swarnjayanti Gram Swarozgar Yojana

The Ministry of Rural Development, Government of India has launched a new programme known as "Swarnjayanti Gram Swarozgar Yojana" (SGSY) by restructuring the existing schemes namely : Integrated Rural Development Programme (IRDP)Training of Rural Youth for Self Employment (TRYSEM)Development of Women & Children in Rural Areas (DWCRA)Supply of Improved Toolkits to Rural Artisans (SITRA)Ganga Kalyan Yojana (GKY)Million Wells Scheme (MWS)The Scheme The SGSY Scheme is operative from 1st April 1999 in rural areas of the country. SGSY is holistic Scheme covering all aspects of self-employment such as organization of the poor into Self Help Groups, training, credit, technology, infrastructure and marketing. The scheme will be funded by the financial institutions, Panchayat Raj Institutions, District Rural Development Agencies (DRDAs), Non Government Organisation (NGOs), Technical institutions in the district; will be involved in the process of planning, implementation and monitoring of th ...

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What is London Interbank Offered Rate (LIBOR)?

London Interbank Offered Rate (LIBOR) is an interest rate at which banks can borrow funds from other banks in the London interbank market. One of the world’s most widely used benchmarks for short-term interest rates, LIBOR rates were first used in financial markets in 1986. From then on LIBOR has been growing in stature and today it is the key reference rate for financial products worth about $350 trillion. Small changes in the LIBOR can cause ripples in the money market. LIBOR is fixed on a daily basis by the British Bankers’ Association and is derived from a filtered average of the world’s most creditworthy banks’ interbank deposit rates. Countries that rely on t he LIBOR for a reference rate include the United States, Canada, Switzerland and the United Kingdom. In 2012, regulators from around the world were probing alleged manipulation of LIBOR by US and European banks. In 2013, a worldwide investigation discovered widespread manipulation of this benchmark interbank lending rates by ...

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History of Indian Cinema

India's first film "Raja Harischandra", a silent movie was first screened at Bombay's (Mumbai) Coronation Theater on May 3, 1913. It was made by Dadasaheb Phalke, the father of Indian Cinema. It was Phalke who introduced India to world cinema at a time when working in films was restricted by social customs. After the success of his film 'Raja Harishchandra', several filmmakers in Bombay and Madras began making silent films. By the mid 1920s, Madras had become the epicenter for all film related activities. Raghupathi Venkaiah Naidu, S S Vasan, A V Meiyappan set up production houses in Madras to shoot Telugu and Tamil films. The silent era came to an end when Ardeshir Irani produced his first talkie, 'Alam Ara' in 1931. If Phalke was the father of Indian cinema, Irani was the father of the talkie. The talkies changed the face of Indian cinema. Apart from looks, the actors not only needed a commanding voice but also singing skills, as music became a defining element in Indian cinema. The ...

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Career Scope in Print Media

Print media are lightweight, portable, disposable publications printed on paper and circulated as physical copies in forms we call books, newspapers, magazines and newsletters. They hold informative and entertaining content that is of general or special interest. They are published either once or daily, weekly, biweekly, monthly, bimonthly or quarterly. Print Media is the oldest form of media. But even today it is growing from strength to strength. Around 4000 small, medium and large newspapers and magazines across the county are registered with the Registrar of Newspapers every year. This indicates that it is a growing sector where employment opportunities are increasing with each passing day. Most of the young aspirants who want to enter the print media prefer reporting, but newspapers and magazines also seek young talent as photographers, artists, editors, computer experts, librarians, and cartoonists. Students who have writing ability, graphics or photo skills, curiosity and deter ...

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