June 3rd 2015 - Current Affairs

MERS claims two lives in South Korea

• Two people have died of Middle East Respiratory Syndrome (MERS) in South Korea making it country’s first fatalities from the disease.
• The first victim was a 58-year-old woman who had contact with the original case, a South Korean who visited the Middle East and second one is of a 71-year-old man.
• So far, 25 confirmed cases of MERS virus have detected in South Korea and around 680 people who might have come into contact with the infected patients, have been placed in isolation.

Facts about Middle East Respiratory Syndrome (MERS)

MERS belongs to the family of coronaviruses which includes large family of viruses such as common cold and Severe acute respiratory syndrome (SARS). It was discovered in 2012 and was mostly centred in Saudi Arabia.

• Source: MERS is a betacoronavirus derived from bats. Camels have shown to have antibodies to MERS, but the exact source of infection in camels has not been identified.
• Transmission: It can be transmitted from infected person to others after close contact via a respiratory route. It spread’s in droplets when an infected person coughs or sneezes.
• Symptoms: fever, breathing problems, pneumonia and kidney failure.
• Treatment: Till date there is no vaccine available to prevent it. However intensive medical care can help patient to breath.

RBI lowers repo rate to 7.25 per cent

Reserve Bank of India (RBI) has reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.5 per cent to 7.25 per cent with immediate effect.

It was announced in the second bi-monthly policy of RBI. It says that Cash reserve ratio (CRR) of scheduled banks has kept unchanged at 4 per cent of net demand and time liabilities (NDTL).

Continuation of providing liquidity under overnight repos at 0.25 per cent of bankwise NDTL at the LAF repo rate.

Liquidity under 14-day term repos as well as longer-term repos of up to 0.75 per cent of NDTL of the banking system through auctions.

Continuation with overnight/term variable rate repos and reverse repos to smooth liquidity. This the third time RBI has cut interest rates in 2015.

 RBI has reduced the rates in order to take advantage of subdued inflation and to give more support to an economy.
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FIFA President Sepp Blatter resign

• President of the Fédération Internationale de Football Association (FIFA) Sepp Blatter has resigned amid a corruption scandal which under investigation in United States.
•  Earlier on 30 May 2015, he was re-elected as the FIFA President for a fifth term by defeating his rival candidate Prince Ali bins Al Hussein of Jordan.
• FIFA, world soccer’s governing body was hit with worst crisis in its history after U.S. investigation agency FBI had alleged its officials were involved in widespread financial wrongdoing in past years.
• Swiss authorities also had stared their own criminal probe into FIFA’s decision of awarding 2018 and 2022 World Cups to Russia and Qatar, respectively.
• Blatter, a Swiss football administrator had ruled FIFA since 1998 after he was elected for first time.
• Prior to his Presidency, Blatter was a public relations executive representing various organizations and had served as the general secretary of FIFA since 1981.

Maharashtra government approves new Renewable Energy Policy

Maharashtra government has approved a new Renewable Energy Policy which aims at achieving 14,400 MW of installed capacity over a period of five years i.e. till 2020. The approval decision of new policy worth 4,156.43 crore rupees was taken by state cabinet meeting chaired by Chief Minister Devendra in Mumbai. The policy aims at achieving installed capacity of renewable energy of 21,100 MW by 2020 from current installed capacity of 6,700 MW. The target will be achieved through public-private partnerships (PPP) and captive power projects and rolled out of slew incentives for developers for these renewable power projects.

Key facts from new policy

• Policy aims at achieving the installed capacity of 7,500 MW solar energy, 5,000 MW of wind energy, 1,000 MW of bagasse based co-generation by 2020.
• It also seeks to achieve installed capacity 400 MW small hydro, 200 MW of industrial waste and 300 MW of agriculture waste-based products by 2020.
• In order to promote installation of new renewable projects, the state government has simplified consent norms and reduced the number of clearances.
• State government will also provide financial incentives including electricity duty exemption for ten years apart from various other capital subsidies.
•  Procurement process for these projects will be done through competitive bidding with an assurance that consumers will benefit in terms of affordable tariff.

Edward Snowden awarded Freedom of Expression prize in Norway

• Edward Snowden, former US security contractor and electronic surveillance whistleblower has been awarded a Norwegian prize for freedom of expression (also known as Bjornson Prize).
• The award was bestowed upon him by the Norwegian Academy of Literature and Freedom of Expression for his work protecting privacy and for shining a critical light on US surveillance of its citizens and others.

Union Government launches Khoya Paya web portal to trace missing kids

• Union Government has launched Khoya Paya web platform for people to directly report, track and upload information on missing children.
• It was jointly launched by the Union Minister of Women and Child Development Maneka Gandhi and Union Minister of Communication & IT Ravi Shankar Prasad in New Delhi.
• Khoya Paya is joint initiative of the Union Ministry of Women and Child Development (WCD) and the Department of Electronics and Information Technology (DeitY).

Current Affairs - June 2015 Irwin Rose, 2004 Nobel Chemistry winner passes away

Renowned biochemist Irwin Rose who was awarded 2004 Nobel Prize in Chemistry for discovering molecule Ubiquitin passed away. He was 88.

He had shared this noble prize with Aaron Ciechanover and Avram Hershko.

Union Government launches IAP HealthPhone programme

Union Government has launched IAP HealthPhone programme, world’s largest digital mass education programme to address malnutrition in women and children.

It was launched by Union Minister of Women and Child Development Maneka Gandhi in New Delhi.

This programme is initiative of Indian Academy of Pediatrics (IAP) in partnership with

• Union Ministry of Women and Child Development (WCD).
• United Nations Children’s Fund (UNICEF).
• Supported by Vodafone India.

It should be noted that Bolloywood Actor Aamir Khan is support partner and brand ambassador of this programme.

Life insurance Corporation gets clearance to do business in Bangladesh

• Bangladesh has granted permission to India’s state-owned insurance group Life insurance Corporation (LIC) to do business in the country.
• It was announced by M Shefaq Ahmed, Chairman of Bangladesh Insurance Development and Regulatory Authority (IDRA). LIC will start its operations in Bangladesh as a joint venture (JV) entity to be called LIC Bangladesh Ltd with a paid up capital of one billion Taka.