Other five communities that has been granted the status of minority are, Muslims Christians Sikhs Buddhists Parsis By this the community will get a share in the central fund that is regulated under the welfare programmes and also as scholarships for the minority after the decision is notified under
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Jain community has been granted the minority status by Union Cabinet. This nod has enabled the community to avail the benefits in government schemes and programmes. With this nod of the Union Community, Jain community became the sixth community to attain minority status.
Section 2(c) of the National Commission for Minorities Act 1992. With this notification, the community will be allowed to administer and mange their own educational institutions. Chapter I of the National Commission for Minorities under its Section 2 has defined the minority commission and the Act has mentioned, Commission means the National Commission for Minorities constituted under section 3. Member means a Member of the Commission [and includes the Vice Chairperson]. Minority, for the purposes of this Act, means a community notified as such by the Central Government. Prescribed means prescribed by Rules made under this Act. Chapter II of the commission under Section 3 has described the process
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Union Cabinet granted minority status to Jain community across India
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At present about 50 lakh (as per the census 2001, Jain community is about 0.4 percent of total Indian population) people are a part of Jain population in India. The community is considered as a prosperous group because maximum of its population is a business group traditionally. According to Jainism, it originated as a religion by 24 Thirthankaras. Rigveda have the reference of the first Thirthankara named Rishabha. The last two Thirthankaras were Parasvanath (23rd) and Vardhamana Mahavira (24th). Parasvanath died at the age of 100 years, got enlightment at the age of 30. Mahavira was born in 540 BC in Kundagrama, near Vaisali in North
Union Government launched National Waterway-4 project in Tamil Nadu Union Government launched the project for the development of the stretch of 37 Kilometres of the National Waterwayfour (NW-4) between Sholinganallur to Kalpakkam in South Buckingham Canal in Tamil Nadu. NW-4 covers a total length of 1078 Km consisting of Kakinada-Puducherry canal systems integrated with Godavari and Krishna Rivers. Main components of the project include dredging and excavation to develop navigational channel, construction of three terminals and navigational locks. The project will ease out the transportation problems in Chennai suburbs to a great extent besides promoting tourist movement to important tourist spots at Mahabalipuram and Puducherry. Other stretches of the National Waterway-4, which covers the states of Andhra Pradesh, Tamil Nadu and Puducherry, would also be taken up for development subsequently. About National Waterway
National Waterway 1:
will starts from Allahabad to Haldia with a distance of 1620 km. The NW 1 runs through the Ganges, Bhagirathi and Hooghly river system. It will be the
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About Jain Community
Bihar and got enlightment at the age of 42 and died at the age of 72 years in 468b BC in Rajgir in Bihar by self-starvation.
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of Constitution of the National Commission for Minorities The Central Government shall constitute a body to be known as the National Commission for Minorities to exercise the powers conferred on, and to perform the functions assigned to, it under this Act. The Commission shall consist of a Chairperson, [a Vice Chairperson and five] Members to be nominated by the Central Government from amongst persons of eminence, ability and integrity; Provided that five Members including the Chairperson shall be from amongst the Minority communities.
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Union Government banned cosmetic companies from testing on animals
The amendment provides that any cosmetic product which carries out animal testing will face action as per provisions of the Drugs and Cosmetics Act and the Animal Cruelty Act. However, the ban will not prevent companies from importing and selling animal-tested cosmetics in the country. www.vetriias.com
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The notification prohibiting testing of cosmetics on animals was issued by the Union Ministry of Health and Family Welfare. The rules prohibiting testing of cosmetics on animals will become effective within 45 days of it being made public. The ban implies that no cosmetic which has been tested on animals in the country will be allowed to be sold. With this India became the first country in South Asia to ban the testing of cosmetics and its ingredients on animals. To give effect to the notification, the amendment was made in the Drug and Cosmetics Act, 1945.
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longest National Waterway in India. National Waterway 2: a stretch on Brahmaputra River from Sadiya to Dhubri in Assam state. National Waterway 3: run from Kollam to Kottapuram. The 205 km long West Coast Canal is India’s first waterway with all time navigation facility. National Waterway 4: connect Kakinada to Pondicherry through Canals, Tank and River Godavari along with Krishna River. National Waterway 5: connects Orissa to West Bengal using the stretch on Brahmani River, East Coast Canal, Matai River and Mahanadi River Delta. National Waterway 6: It is the proposed waterway in Assam state and will connect Lakhipur to Bhanga in river Barak.
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Rail Tariff Authority will be an advisory body which will advise the Railway Ministry on fares. RTA will comprise of a chairperson and four members at the apex level. At present railway fare and freight rates are set by the Railway Board in accordance with the Railway Act, 1989. The Rail Tariff Authority functions include It will recommend fare revision from time to time taking into account input cost and market condition. It will aim to develop an integrated, transparent and dynamic pricing mechanism for the passenger and freight segments of the Indian Railway’s business. It will help the government to generate requisite surpluses for growth in the future. RTA will be the first external pricing regulatory body for the country’s rail sector. The RTA will be given mandatory powers only after the amendment of the Railway Act, 1989 by the Parliament.
Telecom Regulatory Authority of India (TRAI) released working guidelines for trade of spectrum. The guidelines need to be approved by the government before it can be implemented. Main Working Guidelines are: Only outright transfers of airwaves have been permitted from the seller to the buyer. While no permission will be required from the government for trading of spectrum, the regulator has mandated that both the seller and the buyer will have to inform the licensor six weeks before the trade takes place. Only that spectrum will be allowed to put up for trade for which the companies have paid a market determined price, and trade of spectrum will be on a pan-licensed service area basis. While the transaction will be between two parties–buyer and seller—the regulator has provided that the seller has the flexibility to choose the prospective buyer of its spectrum through mechanism such as tender or auction. In 800 Mhz, spectrum trading will be allowed in the block size of 1.25 Mhz, in 900 Mhz and 1,800 Mhz at 200 Khz, in 2,100 Mhz at 5 Mhz, in 2,300 Mhz and 2,500 Mhz at 20 Mhz. A non-refundable transfer fee of 1% of the transactional amount or 1% of the prescribed market price, whichever is higher shall be imposed on all spectrum trade transactions. These working guidelines once implemented, trading will enable companies
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Union Cabinet approved to set up Rail Tariff Authority
TRAI released Working Guidelines for Spectrum Trading
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Companies are still free to outsource their animal testing to other countries and then import newly animal-tested cosmetics and ingredients back into India. To prevent this, India must also ban the import and sale of cosmetic products and ingredients that have been newly animal-tested anywhere in the world.
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to sell their surplus radio waves to operators facing a spectrum crunch. Spectrum trading is also expected to boost mergers and acquisitions in the sector. About TRAI The Telecom Regulatory Authority of India (TRAI) was established on 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997. It was established to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government.
eligible ones, to make universal adult suffrage a complete reality. The National Voters Day is also utilized to spread awareness among voters regarding effective participation in the electoral process. Pitroda Committee submit report to Information and Broadcasting Ministry Expert Committee constituted by Information and Broadcasting Ministry to review the institutional framework of Prasar Bharti has submitted its report.
Ethical Voting The Election Commission of India celebrated the 4th National Voters Day across the country on 25 January 2014. The theme for the 4th NVD is Ethical Voting. National Voters Day is started from 25 January 2011.
The committee was headed by the Advisor to the Prime Minister on Public Information Infrastructure, Sam Pitroda. Committee has recommended to amend the Act of 1990 to give effective freedom to the Prasar Bharti with administrative and financial powers. following
To develop a funding mechanism for Prasar Bharati to address the need for autonomy with financial accountability. The organisation should have the power to frame rules and regulations
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25th January is also the foundation day of the Commission, which came into being on this day in 1950. The Commission’s objective through NVD is to increase enrolment of voters, especially of the newly
has
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Committee recommendations:
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The committee sought expansion of satellite and digital cable TV operations to meet the obligations of public service broadcasting. It also pressed for digitalisation of the present AM radio system to a new radio transmission system after due evaluation, subject to cost and technical availabilities. The committee further suggested greater involvement of the private sector to expand broadcasting market with a view to effectively utilise infrastructure being created by Prasar Bharati. There should be a creation of a dedicated, multi-platform channels for dissemination of Prasar Bharati's archival products. National launched
Urban
Health
Mission
National Urban Health Mission was launched by the Union Health Minister Ghulam Nabi Azad in Bangalore.
NUHM aims to Improve the health care status of the urban population particularly the poor and other disadvantaged sections. Strengthen public health care system. Involve the community and urban local bodies in healthcare delivery. Supplement the National Rural Health Under a unified National Health Mission.
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for its employees without requiring government approval. There should be an reorganisation of the Prasar Bharati board to make it a professionally managed body effective in guiding the organisation. Complete transfer of ownership and management of assets and human resource to Prasar Bharati to make the organisation administratively and financially autonomous of government. Significantly, it recommended setting up of a regulatory body to ensure public accountability of the organisation with respect to all content broadcast on its television and radio network. It should be a subcommittee of the Prasar Bharati board. Prasar Bharati should create a worldclass broadcasting service benchmarked with the best in the world. The committee encouraged outsourcing of content creation to external producers to attract high quality and diverse programme and creation of a distinct brand identities for different TV and radio channels, defining the content strategy for each. The committee also strongly batted for the use of social media by Prasar Bharati which can be implemented immediately and defining a social media strategy for the organisation. It also called for setting up of a Prasar Bharati connect as a third arm of the public service broadcaster independent of DD and AIR and mandate it to manage the various social media initiatives of the organisation.
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Special Focus on
30- 100 bedded Urban Community Health Centres for cities above 5 lakh population. Urban Primary Health Centres for every 50000 population located within or near slums like settlements. Strengthening existing First Referral Units (FRUs), Urban Health Centres & Dispensaries in terms of human resources, equipment, medicines & consumables. Special outreach sessions for the most vulnerable sections of the urban population. One ANM is for every 10000-12000 population. One ASHA is for every 200-500 slums & urban poor households. Empowerment of communities through Mahila Arogya Samiti for every 50-100 slums & urban poor households. Coverage State Capital, District Headquarters and all cities, towns with population above 50000. Estimated 22.13 crore urban populations, including around 7.75 crore poor and vulnerable population.
National Girl Child Day observed on 24 January 2014 across India by the Government. This day is observed every year to raise awareness and consciousness of the society towards girl children. This year’s theme of Girl Child Day is Safety and Development of girl child. This day is being observed every year on 24 January, since 2008. Some Schemes for girls in India Dhan Lakshmi Scheme - Government of India (Ministry of Women and Child Development) Bhagyalakshmi Scheme - Karnataka Ladli Lakshmi Yojana - Madhya Pradesh Girl Child Protection Scheme Andhra Pradesh Ladli Scheme – Delhi and Haryana Rajalakshmi Scheme - Rajasthan (Discontinued) Balika Samridhi Yojana (BSY) Gujarat Beti Hai Anmol Scheme - Himachal Pradesh Rakshak Yojana - Punjab Mukhya Mantri Kanya Suraksha Yojana - Bihar Mukhya Mantri Kanya Vivah Scheme - Bihar Kunwarbainu Mameru Scheme Gujarat Indira Gandhi Balika Suraksha Yojana - Himachal Pradesh Mukhya Mantri Kanyadan Yojana Madhya Pradesh
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Highlights
National Girl Child Day observed on 24 January
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Urban Poor Population living in listed and unlisted slums. All other vulnerable populations such as homeless, rag-pickers, street children, rickshaw pullers, construction site workers, sex workers and any other temporary migrants.
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The Directive Principles of State Policy emphasizes that the state needs to ensure that all children are provided with services and opportunities to grow and develop in a safe and secure environment. However, in the Indian context, the adverse social attitude towards daughters has left girl children vulnerable and at a disadvantage. Their survival, education, health care, development, security and well being are a matter of national concern. A significant impact of this discrimination is reflected in the deterioration of the male-female ratio, particularly among children. The 1991 Census of India indicated worsening trends in sex ratio. The 2001 Census revealed the gravity of the situation. The dwindling number of girl children on account of increasing incidences of sex selection is a matter of concern in many states. Even after legislations such as the Preconception and Pre-Natal Diagnostic Techniques Act of 1994, popularly known as the PCPNDT Act, and many campaigns to promote the value of the girl child, the situation has barely improved. Programmes and policies clearly state that it is necessary to empower girl children in all aspects of life so that they become equal partners in society. They should be in a
avail
equal
freedom
and
Objective of the National Girl Child Day National Girl Child day is observed with an aim to ensure that every girl child is respected, valued and treated equally in the society. On this day multi-pronged approach to address and work towards the diminishing child sex ratio in India is taken up by the Women and Child Development Ministry. These initiatives help the country in nurturing the girl child in a way that equal opportunities are given to them similar like the boys. Earlier on 22 January 2014, the India Post launched a special savings scheme for the girl child between 10 and 20 in age of India. The scheme has asked the parents of girls to open a Savings Bank account. It says that the parents can open,
Recurring Deposit (RD) Monthly Income Scheme (MIS) Fixed Deposits And can also buy National Savings Certificate (NSC)
Parents who open an account during the National Girl Child Week (24 to 30 January 2014) will be given special prizes. India Post has mentioned that the parents can deposit minimum 10 rupees for the Recurring Deposit account, for Savings bank accounts 50 rupees can be deposited and for Monthly Income Scheme can be opened from 5000 rupees and it goes up to 6 lakh rupees.
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The Constitution of India offers all citizens, including children, certain basic fundamental rights.
position to opportunity.
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Most of these schemes are administered through the Department of Women and Child Development using the vast network of ICDS and Anganwadi workers.
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Incentives to Girls for Secondary Education
medical care, nutrition, child marriage and violence.
To promote enrolment of girl child in the age group of 14-18 at secondary stage, especially those who passed Class VIII and to encourage the secondary education of such girls, the Centrally Sponsored Scheme. National Scheme of Incentives to Girls for Secondary Education was launched in May, 2008.
Comment: In India there are many government schemes to promote girls education but it has failed till date because of the lack of information transmission. These schemes have also failed to reach the target group even in urban areas. In terms in education girls from the economically weaker section of the country hardly has been able to go beyond eighth or tenth class.
A sum of 3000 Rupees is deposited in the name of eligible girls as fixed deposit. The girls are entitled to withdraw the sum along with interest thereon on reaching 18 years of age and on passing 10th class examination. International Day of the Girl Child is observed on 11 October and was declared as a day to be observed by United Nations in 2012. UN declared this day to support more opportunities to a girl child worldwide upon their gender like education, legal rights,
NALSA launched free legal service clinics across the country National Legal Services Authority (NALSA) launched the 2648 village legal service clinics across the country on 24 January 2014. The move aims to bring legal services to the doorsteps of the weakest section of the country. Chief Justice of India P.Sathasivam open free legal clinics in New Delhi. As per the regulation, NALSA will set up village legal services clinics in one village in each Taluk of the country. On the lines of health centres in villages, these legal services will provide legal care to villagers who are not aware about laws and their rights. With the help of Para-legal volunteers and empanelled lawyers, clinics will also assist villagers in getting BPL card, Election ID, Aadhaar Card, gas connection and other government welfare schemes. About NALSA The National Legal Services Authority (NALSA) has been
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All SC/ST girls who pass class VIII and Girls, who pass class VIII examination from Kastrurba Gandhi Balika Vidyalayas (irrespective of whether they belong to Scheduled Castes or Tribes) and enroll for class IX in State/UT Government, Government-aided or local body schools in the academic year 2008-09 onwards. Girls should be below 16 years of age (as on 31 March) on joining class IX. Married girls, girls studying in private un-aided schools and enrolled in schools run by Central Government are excluded.
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The Scheme covers
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The Union Cabinet approved the amendments in the Mental Health Care Bill with an aim to empower people suffering from mental illness and to protect their rights. The new bill seeks to decriminalise suicide and make access to affordable mental health care a right for all. This is the first time in India, that a bill that seeks to decremanlise acts of suicide by linking it to the state of mental health of the person attempting the act has been presented in the Rajya Sabha and approved by the Cabinet. As per the Bill People suffering from mental health attempting suicide would be treated as mentally ill and therefore the act will be exempted from the provisions of Section 309 of Indian Penal Code. This bill has fulfilled the gap in the mental health law in the country after India Ratified the UN Convention on the Rights of Persons with Disabilities that requires
Cabinet approved Amendments in OBC Central List for 13 States and 3 Union Territories Union Cabinet gave its approval for making amendments in the Central List of Other Backward Classes (OBCs) in 13 states and three Union Territories. The amendments have been done by way of inclusion/correction/deletion of castes/communities as per the advices received from the National Commission for Backward Classes (NCBC). 115 changes will be notified by the amendments, which were recommended by the NCBC. The three Union Territories are Chandigarh, Delhi and Puducherry and the 13 states include Andhra Pradesh Bihar Goa Himachal Pradesh Jharkhand Karnataka Kerala Maharashtra Punjab Tamil Nadu Uttarakhand Uttar Pradesh West Bengal The amendments introduced in the OBCs central list enable a person who belongs to these castes/communities to avail
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Cabinet approved Amendments to the Mental Health Care Bill
harmonization in its laws with those prevalent worldwide. The convention was signed by India on 1 October 2007 and it came into force from 3 May 2008.
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constituted under the Legal Services Authorities Act, 1987 to provide free Legal Services to the weaker sections of the society and to organize Lok Adalats for amicable settlement of disputes. In every State, State Legal Services Authority has been constituted to give effect to the policies and directions of the NALSA and to give free legal services to the people and conduct Lok Adalats in the State. The State Legal Services Authority is headed by the Chief Justice of the respective High Court.
Currency notes issued before 2005 to be withdrawn: RBI
option but to liquidate their unaccounted holdings by spending or exchanging them.
The Reserve Bank of India (RBI) has decided to withdraw all currency notes issued prior to 2005 from circulation on 21 January 2014.
Globally, it is a practice across central banks to phase out banknotes at regular intervals.
From 1 April 2014, Banks will provide exchange facility to the general public for exchanging the pre-2005 issued bank notes. The notes issued before 2005 do not have the year of printing on the reverse side.
India ranked lowest in International Intellectual Property Index
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The continued use of compulsory licenses, patent revocations, and weak legislative and enforcement mechanisms raise serious concerns about India‟s commitment to promote innovation and protect creators.
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The move by the RBI is to capture the money flows into the system and also to help flush out counterfeit notes. This would leave currency hoarders with no
US Chamber of Commerce released the International Intellectual Property (IP) Index. In the IP Index, India has scored a low seven point out of maximum 30 points. India continues to have the weakest IP environment of all countries included in the GIPC Index for the second consecutive year.
Vetrii’s Current Affairs
Economy Watch high-quality future jobs through a robust intellectual property (IP) system.
IRDA formed Suresh Mathur panel to suggest ways to improving FDI
About International IP Index International IP Index is prepared by the Global Intellectual Property Center (GIPC) of the US Chamber of Commerce which maps the IP environment of 25 countries from around the world. In 2010, the then-President of India declared the next 10 years to be India‟s “Decade of Innovation.” Promoting innovation means protecting domestic innovators and creators, attracting world-class research and development, and creating and sustaining
The Terms of Reference of the Committee are: To explore the options of further increasing FDI limit for insurance intermediaries. To analyse possible impact of such increase on the industry and other related sectors. To review the related international practices. To examine to what extent, if possible, the FDI limit can be increased in intermediaries and study the international practices in this regard.
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The United States received the highest (28.5 percent) overall score, but came in third after the United Kingdom and France in the enforcement category. China IIP environment continued to see challenges (trade secret protection and enforcement) and it shows improvements in certain aspects of its patent regime. Canada‟s treatment of pharmaceutical patents, copyright laws, and unwillingness to ratify international IP treaties resulted in significantly lower scores than other upper-income economies.
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Other highlights of the IP Index
The Insurance Regulatory and Development Authority (IRDA) formed a new committee headed by Suresh Mathur to suggest ways to enhance Foreign Domestic Investment (FDI) in insurance intermediaries (other than insurance companies) and Third party administrators (TPA).
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Presently, a foreign company cannot hold more than 26% shares in an insurance company. But, in case of insurance intermediaries there is no such restriction.
India‟s dependence on overseas energy by 2030 and submit a report within six months.
There was also a consistent demand for increasing the foreign shareholding in insurance brokers from the existing limit of 26% to 100%.
There is a long pending Insurance bill in Rajya Sabha since 2008. This bill seeks to raise the FDI limit in insurance sector from existing 26% to the 49 %.
It suggested administering Production-Sharing Contracts (PSC) without any changes and strengthening the DirectorateGeneral of Hydrocarbons (DGH) for better administration. Shifting to an open acreage regime, where companies can pick exploration areas through the year rather than wait for periodic auctions that offer areas identified by the government. The panel has called for setting up a National Data Repository (NDR) that will preserve and promote the country‟s natural resources data.
Kelkar panel submitted report to Union Oil Ministry
The second part of the report would cover pricing and taxation issues and is likely to be submitted in February 2014.
A Committee was set up under Vijay Kelkar to suggest ways of raising domestic oil and gas output. The panel was entrusted with the task of drafting a plan to reduce
Under the present regime, oil companies can recover all costs of successful and unsuccessful wells from sales of oil and gas before sharing profit with the government. The suggestions in the first part of the Kelkar Committee report are contrary to the royalty-sharing regime suggested by C. Rangarajan Committee, which has been accepted by the government. Under royalty -sharing regime companies are required to state upfront the quantum of oil or gas they would share with the government from the first day of production. Rangarajan Committee had suggested for royalty sharing regime without cost recovery to check gold plating of
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The Kelkar Committee submitted the first part of its report. The committee recommended continuing with the present production-sharing regime in contracts for blocks and allows companies to recover exploration and production costs.
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The aforesaid proposed change would not require any modification in the Insurance Act. But, In case of increasing foreign shareholding in an insurance intermediary or TPA, the insurance act would get modified.
Suggestions of committee:
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The Comptroller and Auditor General (CAG) had criticised the PSC regime on grounds that it encouraged companies to increase capital expenditure and delay the government‟s share.
NABARD reduced refinance rate for banks National Bank for Agriculture and Rural Development (NABARD) reduced the refinance rates for the banks and other lending agencies by 0.20 percent. This has been done with an aim to promote rural credit and rural infrastructure. In its notification, NABARD has also mentioned that banks drawing refinance of 500 crore rupees and more in a single drawl would be allowed further reduction of 0.10 percent.
About NABARD NABARD (National Bank for Agriculture and Rural Development) was formed on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of then Agricultural Refinance and Development Corporation (ARDC). NABARD was dedicated for the service of the nation by the late Prime Minister Indira Gandhi on 5 November 1982. NABARD was constituted following the recommendation of a committee that was formed to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) on 30 March 1979. The committee was constituted by the RBI under the Chairmanship of B Sivaraman. The Parliament, through Act 61 of 1981, approved the setting up of NABARD. NABARD was set up with an initial capital of 100 crore rupees. NABARD basically looks for the financial and developmental issues. It also supervises the issues.
In its notification it also mentioned that the reduction of 10 basis point for the State Cooperative Agriculture and Rural Banks (SCRDBs) will be allowed for a single drawl of 200 crore rupees and above.
RBI appointed a Committee to Review Governance of Boards of Banks in India
With this reduction, NABARD expects that this step will give a boost to banks by extending investment credit. It will also help
Reserve Bank of India constituted an Expert Committee to Review Governance of Boards in India.
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However, Kelkar Committee has opined that royalty sharing regime is not workable in Indian conditions wherein the exploration of oil & gas blocks are still under-developed. Thus, the Kelkar panel favoured the revenue sharing model for shallow and on-land blocks that are less cost-intensive than deep sea exploration.
in creation of warehouse infrastructures for agricultural commodities in India.
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investments by companies. Royalty sharing regime is prevalent in developed countries.
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The expert committee will be chaired by PJ Nayak, the former Chairman and CEO of Axis Bank and includes other eight members.
all categories of directors of banks, including tenor of directorship To examine board compensation guidelines, and any other issue relevant to the functioning of banks‟ boards and the governance they exercise Before this committee, the RBI formed a similar panel in 2002 under the chairmanship of AS Ganguly and seeked it tp provide suggestions to find ways to make the role of board members more effective. The drafted report was mainly applicable for private banks
of
the
To review the regulatory compliance requirements of banks‟ boards in India To judge what can be rationalised and where requirements need to be enhanced To examine the working of banks‟ boards including whether adequate time is devoted to issues of strategy, growth, governance and risk management and will also review central bank regulatory guidelines on bank ownership, ownership concentration and representation in the board To analyse the representation on banks‟ boards to see whether the boards have the appropriate mix of capabilities and the necessary independence to govern the institution, and to investigate possible conflicts of interest in board representation, including among owner representatives and regulators. In this regard to also assess and review the „fit and proper‟ criteria for
RBI expert panel suggested adoption of new CPI for Anchoring Monetary Policy Expert Committee to revise and strengthen the monetary policy framework submitted its report to the Governor of RBI. The committee was headed by Dr. Urjit R Patel, the Deputy Governor of RBI and was constituted on 12 September 2013 by the Governor Dr. Raghuram G Rajan. The committee in its suggestion has recommended that a new Consumer Price Index (CPI) should be adopted by Reserve Bank of India (RBI) to anchor the monetary policy has been recommended on 21 January 2014 by an expert panel set by the central bank. The committee has also set an inflation target at 4 percent with a band of plus/minus 2 percent around it. The panel in its recommendation has also suggested that the monetary policy decision should be vested in
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reference
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The terms of Committee would be,
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the hands of the Monetary Policy Committee (MPC) that will be headed by the Governor. These suggestions as recommendation is intended to better ground inflation expectations by making it clear that inflation is the RBI‟s primary objective. It also expects to be held accountable for its performance in this regard. The committee has suggested detachment of Open Market Operations (OMOs) from the fiscal operations and instead linked solely to the liquidity management.
In recent years, inflation in India has been amongst the highest within the G-20. Household Inflation expectations have risen sharply and have remained at elevated levels, unhinged from the low inflation experience of 2000-07 as also from the global inflation record. Professional forecasters’ surveys show that the longterm inflation expectations have risen by about 150 basis points during this period.
for on
To review the objectives and conduct of monetary policy in a globalised and highly inter-connected environment. To recommend an appropriate nominal anchor for the conduct of monetary policy. To review the organisational structure, operating framework and instruments of monetary policy, particularly the multiple indicator approach and the liquidity management framework, with a view to ensuring compatibility with macroeconomic and financial stability, as well as market development. To identify regulatory, fiscal and other impediments to monetary policy transmission, and recommend measures and institutional preconditions to improve transmission
The Reserve Bank of India relaxed the rules of Foreign Direct Investment. The decision is aimed at providing exit option to the foreign investors. The investors can exit their investments by selling their holding of equity or debt. The relaxation was expected to facilitate higher foreign direct investment (FDI) inflows into India. India saw a drop of 15 percent in FDI inflows from April 2013 to October 2013. The exit option given to the foreign investors is subject to the condition that any FDI will have a minimum lock-in period without any assured return. The lock-in period for defence and construction sector has been kept at three years and for all other sectors it will be at least a year.
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The terms of reference of the Committee were,
Reserve Bank of India relaxed Foreign Direct Investment rules
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OMOs should not be used managing yields on government government securities.
across financial market segments and to the broader economy. To carefully consider the recommendations of previous Committees/Groups in respect of all of the above.
National Cloud
About MeghRaj
Union Ministry of Communications and Information Technology launched the National Cloud under MeghRaj Initiative. The National Cloud is being implemented by National Information Centre (NIC). The features of the National Cloud includes self service portal, multiple Cloud solutions, secured VPN access and multi location-Cloud.
Government of India embarked upon an ambitious initiative GI cloud named MeghRaj to utilize and harness the benefits of Cloud Computing. The focus of GI cloud is to accelerate delivery of e-services while optimizing ICT spending of the Government. It will ensure optimum utilization of the infrastructure It also speeds up the development and deployment of e Gov applications.
About Cloud Computing
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computing that relies on sharing computing resources rather than having local servers or personal devices to handle applications.
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Cloud computing is a type of
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Techno Watch
In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider.
Moclic software to predict weather
weather stations in any state or country. Moclic project allows an agronomist to obtain annual rainfall records and relate them to the crops production figures for explanation of a possible event. It is also possible to identify desiccation processes in a region which comes useful while considering the seeds that can resist droughts.
Cassini spacecraft
The new study was conducted using data gathered by Saturn-orbiting spacecraft.
the
NASA’s Cassini
Moclic is a software Monitoring Climate Change (Moclic) through which is possible to organise, store and operate georeferenced data from climate elements.
climatic indicators such as humidity, aridity, rain erosion and rainfall concentration. Using the new software information regarding temperature can be known more accurately which feeds on data from
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Moclic can calculate bio and agro
about 4.4 billion years ago said the researchers at NASA. The rings are composed primarily of water ice, but they contain small amounts of rocky material contributed by micrometeoroid bombardment.
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Saturn's iconic rings were formed
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NIT Odisha developed technology to turn Plastic into fuel National Institute of Technology, Odisha, developed a commercially viable technology for efficiently rendering common polymer, low-density polyethylene (LDPE) into a liquid fuel.
This discovery may lead to re-using discarded plastic bags and other products to address growing demands for fuel globally.
mineral containing aluminum and silicon). This caused the plastic's long chain polymer chains to break apart in a process known as thermocatalytic degradation. An analytical method called Gas chromatography-mass spectrometry (GC-MS) was used to characterise these product molecules like paraffin’s. The process, if implemented on a large scale, can reduce pressures on landfill as well as ameliorating the effects of dwindling oil supplies in a world with increasing demands on petrochemicals for fuel.
Nanotechnology may prevent Cancer from spreading Nanotechnology may prevent cancer from spreading by using sticky nanoparticles.
medical and laboratory equipment, computer components and plastic bags.
The team heat up the plastic waste to between 400 and 500 degrees celsius over a kaolin catalyst (a clay
These are made by attaching Trail protein and other proteins to the nanoparticles.
As per the results of earlier trial tests, Trail protein has the ability to kill cancer cells. These sticky nanoparticles are injected into blood stream
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LDPE is used to make container,
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About LPDE
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which attaches themselves with the white blood cells.
upon the range and habitat needs of species.
Tests revealed that as soon as sticky nanoparticles came in contact of cancel tumor cells which had broken off the main tumour and were trying to spread, it kills them. It thus prevent tumour from spreading into other regions. The test results are significant in human blood and mice.
Process of how the Red List of IUCN helps in saving the species
IUCN Red List has completed 50 years of its existence IUCN announced that it is celebrating 50 years of the IUCN Red List of Threatened Species in guiding conservation action and policy decisions.
Conservation Planning – It provides the information that is related to speciesbased conservation actions. It also helps in identifying globally important sites for conservation including important Plant Areas, important bird areas, key biodiversity areas and alliance for zero extinction sites. Decision-making – It helps in by influencing the decisions of conservation at multiple scales that includes environmental impact assessments to international multilateral environments agreements Monitoring – Indicating the current status of species and revealing trends in their extinction risk over time, to track progress towards biodiversity targets. About International Union Conservation of Nature (IUCN)
for
The IUCN Red list acts as a powerful tool to inform and catalyse action for biodiversity conservation and policy change for things that are critical to protect the natural resources that is needed by us to survive. It also provides the information on population size as well as trends depending
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The Red list of IUCN is the world’s most comprehensive information source on the global conservation status of animal, plant species and fungi related to livelihoods.
International Union for Conservation of Nature is the world’s oldest and largest global environmental organization. It was founded in 1948 and at present it is the largest professional global conservation network. It is funded by governments, bilateral and multilateral agencies, member organisations, corporations and foundations. It has the status of official observer at the United Nations General Assembly.
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The
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For the first time the IUCN Red List was conceived in 1964, when it set a standard for species listing and conservation assessment efforts.
and analyse blood glucose levels at an individual level. About QuickcheQ
QuickcheQ
The Union Ministry of Health and Family Welfare launched two indigenous Glucose Monitoring Device, Suchek and QuickcheQ. The launching of two kinds of glucometers and testing strips will make mass screening and detection feasible.
About Suchek
Suchek is designed and developed by Nanobios Lab, Indian Institute of Technology, Mumbai. Suchek is very useful for health camps as it has a mobile application, which helps save, trend
About Diabetes Diabetes, diabetes mellitus, describes a group of metabolic diseases in which the person has high blood glucose (blood sugar), either because insulin production is inadequate, or because the body's cells do not respond properly to insulin, or both.
Patients with high blood sugar will typically experience polyuria (frequent urination), they will become increasingly polydipsia(frequent thirst) and polyphagia(frequent hunger). There are three types of diabetes: Type 1 Diabetes
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Monitoring by Union
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Indigenous Glucose Device launched Government
is designed and developed by the Birla Institute of Technology, Hyderabad with funding from the Indian Council of Medical Research(ICMR). These will be manufactured by Biosense Technologies and will be available in the open market in the next six months.
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The body does not produce insulin. People usually develop type 1 diabetes before their 40th year, often in early adulthood or teenage years. Patients with type 1 diabetes will need to take insulin injections for the rest of their life. They must also ensure proper blood-glucose levels by carrying out regular blood tests and following a special diet. Approximately 10% of all diabetes cases are type 1.
A new online Atlas of freshwater biodiversity that presents spatial information and species distribution patterns was launched at the Landmark Water Lives symposium.
Type 2 Diabetes The body does not produce enough insulin for proper function, or the cells in the body do not react to insulin (insulin resistance).
This type affects females during pregnancy. Some women have very high levels of glucose in their blood, and their bodies are unable to produce enough insulin to transport all of the glucose into their cells, resulting in progressively rising levels of glucose.
First online Global Freshwater Biodiversity Atlas launched
A vertebrate is an animal that has an internal backbone and a skeleton that is made of bones and it also include humans. Some other vertebrate species are fish, amphibians, reptiles, birds, mammals, primates, rodents and marsupials. The newly launched online atlas is a response from freshwater scientists to key geographical information and spatial freshwater biodiversity across different scales. The online Atlas adopts a book-like structure allowing easy browsing through its four thematic chapters, Patterns of freshwater biodiversity Freshwater resources and ecosystems
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Gestational Diabetes
Freshwater that is quite important for diverse habitats covers only 1 percent of total earth’s surface and is a home for about 35 percent of all vertebrate species.
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Some people may be able to control their type 2 diabetes symptoms by losing weight, following a healthy diet, doing plenty of exercise, and monitoring their blood glucose levels. Approximately 90% of all cases of diabetes worldwide are of this type.
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Name of some of the partners who were involved in this work are are: GEO Biodiversity Observation Network (GEO BON) The International Union for Conservation of Nature (IUCN) The Global Water System Project (GWSP) Conservation International (CI) Wetlands International The Nature Conservancy (TNC) The World Wildlife Fund (WWF)
First multi-coloured launched
3D
Printer
World’s first 3D-printer Objet500 Connex3 was launched recently. The printer was manufactured by the USA based company Stratasys, the owner of the MarkBot range of printers.
Object500 Connex3 is the world's first 3D printer that can produce
It is touted to be better than the 3D printer the ProJet 5500X which was unveiled by Stratasys’s rival 3D Systems. ProJet 5500X offers a smaller range of colours: black, white, and certain shades of grey. However, since the size of the printer is large, it is mainly targeted toward major corporations and high-end designers. Dexter, Private Information Stealing Virus, detected in online banking transactions Dexter, a private information stealing virus, was detected by Computer Emergency Response Team – India (CERT-In) in online banking transaction space.
The virus is particularly more threatening for the users of credit card
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Atlas is an output of BioFresh (European Union funded project) that is putting together the scattered pieces of information about life in rivers and lakes.
multi-colour, multi-material objects at the same time. It enables users to get exact intended colour, material properties and surface finish as conceptualized. The printer uses three different base resins and 10 colour palettes and can craft a variety of objects like a pair of sports goggles, flexible shoes, headphones, a blender and even multi-colored football and bike helmets.
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Pressures on freshwater systems Conservation and management
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while making payments at the shopping counters.
Forecasts and alerts of cyber security incidents. Emergency measures for handling cyber security incidents. Coordination of cyber incident response activities. Issue guidelines, advisories, vulnerability notes and whitepapers relating to information security practices, procedures, prevention, response and reporting of cyber security incidents.
When the credit card is swiped at the point of sale (POS), the virus Dexter steals the confidential data like card holder’s name, account number, expiration date, CVV code and other discretionary information. This leak of the information could lead to financial loss and phishing attacks on the card.
CERT – In, set up in January 2004, is a nodal department under the Union Ministry of Communications and Information Technology. It is mandated to protect Indian cyberspace and software infrastructure against destructive and hacking activities. In accordance with the Information Technology Amendment Act, 2008, CERT – In is designated as national agency to perform the following functions in the area of cyber security Collection, analysis and dissemination of information on cyber incidents.
Prime Minister Manmohan Singh laid the foundation of 2,800 Megawatt nuclear power plant in Fatehabad district of Haryana on 13 January 2014. The project named as Anu Vidyut Pariyojna, will have four units of 700 MWes each and it will be built at a cost 23502 crore rupees.
They are Pressurised Heavy Water Reactors (PHWRs) which will
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About Computer Emergency Response Team - India (CERT-In)
Anu Vidyut Pariyojana launched in Fatehabad, Haryana
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Earlier in December 2013, RBI made it mandatory for debit card holders to punch in their PIN every time when they make a purchase. The order was passed following the spread of virus of Trojan Family which was detected at the Point of Sale (POS).
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use natural uranium as fuel and heavy water as both coolant and moderator. The Nuclear Power Corporation of India Limited (NPCIL) will build these reactors. This is the first time Haryana will have a nuclear project. In the second stage, the NPCIL will build two more PHWRS of 700 MWe each at the Gorakhpur site of Haryana.
The first stage consists of the pressurised heavy water reactors (PHWR), The second stage consists of fast breeder reactors (FBR) and The third stage consists of advanced heavy water reactors (AHWR).
The nuclear plant will accelerate the pace of development of the area and it would also generate more employment opportunities. The NPCIL is already building four PHWRS of 700 MWe each, two units each at Kakrapara in Gujarat and Rawatbhatta in Rajasthan. The units at Kakrapara are under advanced stage of construction and they will attain criticality in 2016. NPCIL is the sole body responsible for constructing and operating India's commercial nuclear power plants. The company had 21 nuclear reactors in operation at seven locations. Total installed capacity of nuclear reactors is 5780 MWe.
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Programme was formulated by Dr. Homi Bhabha in the 1950s. The objective of the plan is to secure the country’s long term energy independence, through the use of uranium and thorium reserves found in the monazite sands of coastal regions of South India.
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About India's three-stage nuclear power programme
Programme has three stage vision: www.vetriias.com
Ulysses Award given by United Nation World Tourism Organisation (UNWTO) was presented on 22 January 2014. The awards were given for Excellence and Innovation in Tourism. The winners were announced at the Awards Ceremony which took place at the International Tourism Trade Fair (FITUR) in Madrid, Spain. About Ulysses Award These are the flagship awards for the global tourism sector, recognizing knowledge creation, dissemination and innovative applications. Every year, Awards are conferred by the UNWTO and the UNWTO Knowledge Network to highlight and showcase innovation and application of Knowledge in Tourism. In doing so, the UNWTO Awards seek to recognize and stimulate knowledge creation, dissemination and innovative applications in tourism and to bring to light the latest advances in the area.
Peshawar, largest reservoir of polio in world: WHO
Peshawar
in Pakistan had the largest number of polio cases in the world in 2013. This was revealed by World Health Organisation (WHO) in a global analysis for polio 2014. The analysis by World Health Organisation (WHO) further said that Pakistan is the only polioendemic country which reported more polio cases in 2013 than in 2012. Pakistan reported 83 cases in 2013 compared to 58 cases in 2012. In 2013, 369 cases were reported worldwide. In Pakistan, 59 cases were from Federally Administered Tribal Areas (FATA), 10 from Khyber Pakhtunkhwa and seven each from Punjab and Sindh. Khyber Pakhtunkhwa Province, of which Peshawar is the capital and adjoining tribal districts, has been found to be the polio hotspot in Pakistan. All the polio cases reported from Pakistan are type-1 cases. No report of type-3 polio cases has been reported from Pakistan.
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UNWTO Ulysses Awards Innovation announced
Obama established Af-Pak strategic partnership office
Ahead of the drawdown of US troops
from Afghanistan by the end of 2014, US President Barack Obama announced to establish an Af-Pak Strategic Partnership Office (APSPO) on 18 January 2014. The objective is to oversee smooth transition and promote normalised diplomatic presence in Afghanistan and Pakistan. APSPO has been tasked to perform the specific project of supporting executive departments and agencies in facilitating a partnership with the two South Asian countries of Afghanistan and Pakistan. APSPO will be a temporary office and would be based in Washington, Islamabad and Kabul. It would promote security and stabilisation and transitioning to a normalised diplomatic presence in both the countries. The office will also aid in coordinating the final drawdown of the
Indus Civilization ended Disease and violence
due
to
The Researchers at Appalachian State University, US discovered that violence, infectious disease and changes in climate were responsible for the end of Harappa, Indus Civilization around 4000 years ago. The study focused on human skeletal remains discovered in the Harappa currently in Pakistan were not peaceful and egalitarian group so often proposed. The study results showed that climate, economic and social changes all played a role in the process of urbanization and collapse but not known how these changes affected the human population. The study revealed that communities of Harappa, particularly marginalized communities faced more significant impacts than others from climate and socioeconomic strains. In southeast of the city a small pit contained the remains of men, women and children revealed the presence of violence at rate of 50 percent and 20 percent showed signs of presence of leprosy. India launched Gandhi portal for British-Indian children
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As a result, the most immediate epidemiological challenge is to control this transmission in the region. At the same time, building super high immunity in southern districts of the province is needed to reverse previous trends of transmission moving to the south after the central region outbreak.
World Watch Department of State’s civilian field operations and staff in Afghanistan. Besides, it will also support agencies in transitioning to a partnership with the governments of Afghanistan and Pakistan in the economic, diplomatic, cultural, technology, and security fields. It will be particularly in the areas of program management, rule of law, and program oversight.
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Vetrii’s Current Affairs The analysis by WHO suggested that viruses from Toba Tek Singh, Sahiwal, Lahore and Multan are closely related with each other. This reflects a common source of outbreak because of a significant immunity gap in the central region of Punjab.
World Watch
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Vetrii’s Current Affairs India launched a Gandhi Portal named Search for Gandhi in London on 31 January 2014. With this India aims to popularize Mahatma Gandhi among children of British Indians settled in UK. High commissioner of India to UK Ranjan Mathai and Sam Pitroda launched this portal. The portal is meant for children aged 6 to 15 and will use audios, videos, creatively integrated facts, games and quizzes. Youth 4 Gandhi Foundation (Y4G) plans to propagate Gandhi and his values in children which can be fun and includes a hint of seriousness attached to it. The portal will use both English and Hindi to communicate the messages. The website would contain five main sections. The Know Gandhi section will go through Gandhi's journey as a writer, philosopher and leader. Meet Gandhi will take children on an online tour of Gandhi Smriti where he spent the last days of his life and his belongings and glimpses of his life on display. The website will take the children through a virtual tour of Raj Ghat where Gandhi was cremated. Gandhi Gaming will bring out the fun quotient carrying games and quizzes that will educate youngsters about Gandhi through entertainment. The portal will also allow one to watch Gandhi's iconic videos and hear the audios of his most famous speeches.
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