Current Affairs(25th October)
INDIA TO CHAIR ILO GOVERNING BODY AFTER 35 YEARS
- India has assumed the Chairmanship of the Governing Body of International Labour Organization (ILO), after a gap of 35 years.
- The Labour and Employment Secretary, Apurva Chandra, has been elected as the Chairperson of the Governing Body of the ILO for the period October 2020- June 2021.
- Chandra is a 1988 batch Indian Administrative Service officer of Maharashtra Cadre. He would preside over the upcoming Governing Body’s meeting, to be held in November 2020.
- The Governing Body is the apex executive body of the ILO which decides policies, programmes, agenda, budget and elects the Director-General. At present, ILO (Headquarter- Geneva, Switzerland) has 187 members. It meets three times a year, in March, June and November.
PAKISTAN REMAINS ON FATF'S GREY LIST
- Pakistan will remain on the FATF Grey List till June 2020. The decision was taken by the anti-money laundering watchdog after the conclusion of the February 16-21 group meetings and plenary in Paris.
- The Financial Action Task Force (FATF) in October decided to keep Pakistan on its Grey List for failure to curb funnelling of funds to terror groups Lashkar-e-Taiba, Jaish-e-Mohammed and others.
- The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Member jurisdictions.
- The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
- In collaboration with other international stakeholders, the FATF works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
- The headquarters of FATF is in Paris, France.
- FATF was founded in July 1989.
COUNTRY'S FOREIGN EXCHANGE RESERVE LIFETIME HIGH
- According to the Reserve Bank of India (RBI) data, the country’s foreign exchange (forex) reserves touched a lifetime high of USD 555.12 billion after it surged by USD 3.615 billion in the week ended 16th October 2020.
- The rise in total reserves was due to a sharp rise in Foreign Currency Assets (FCAs), a major component of the overall reserves. FCA jumped by USD 3.539 billion to USD 512.322 billion.
- Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities.
- It needs to be noted that most foreign exchange reserves are held in U.S. dollars. These assets serve many purposes but are most significantly held to ensure that the central bank has backup funds if the national currency rapidly devalues or becomes altogether insolvent.
- India’s Forex Reserves include: Foreign Currency, Assets, Gold, Special Drawing Rights, Reserve position with the International Monetary Fund (IMF) Foreign Currency Assets. FCA are assets that are valued based on a currency other than the country's own currency.
- FCA is the largest component of the forex reserve. It is expressed in dollar terms. FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
NITI AAYOG COMMITTEE'S REFORMS IN URBAN EDUCATION
- NITI Aayog has constituted a 14-member advisory committee to look into introducing reforms in the urban planning education system. The panel will be headed by NITI Aayog Vice-Chairman Rajiv Kumar.
- The members of the committee include Amitabh Kant, CEO of NITI Aayog and secretaries of Ministry of Housing and Urban Affairs(MoHUA), Ministry of Education(MoE) and Ministry of Panchayati Raj.
- The committee will examine the current system in terms of multi-disciplinarily, curriculum and other related issues at the level of graduates and postgraduates against the challenges of rapid urbanization.
- The committee will examine the urban planning education system in India and examine the availability, demand and supply of the qualified urban planners in India.
- The NITI Aayog is a policy think tank of the Government of India, established with the aim to achieve sustainable development goals with cooperative federalism.
- It was established in 2015, by the NDA government, to replace the Planning Commission. It has its headquarters in New Delhi. Prime Minister of India holds the post of Chairman of NITI Aayog. Whereas Amitabh Kant is the CEO of NITI Aayog.
ANDHRA PRADESH'S CM LAUNCHES 'YSR BIMA SCHEME'
- The Chief Minister of Andhra Pradesh, YS Jagan Mohan Reddy has launched ‘YSR Bima’, a scheme to provide financial assistance through insurance cover to the beneficiary in case of death or accident of their family’s members.
- All families with white ration cards are eligible for YSR Bima scheme. Village/ward volunteers will visit the families and enrol the names of the primary householders.
- The claim amount will be directly credited into the beneficiary bank account within 15 days of making the claim. Apart from this, immediate assistance of Rs 10,000 will be provided to the families through village and ward secretariats.
- The scheme will benefit 1.41 crore BPL families of the state. An amount of Rs 510 crore would be paid by the state government annually as an insurance premium for this scheme.
MIZORAM STATE: COVID-19 NO TOLERANCE FORTNIGHT
- Mizoram state government has decided to observe 'COVID-19 -No Tolerance Fortnight' which is going to begin from October 26 as a containment measure to flatten the curve of Covid-19 in the state.
- The Mizoram government has accorded zero-tolerance policy to flouting any COVID-19 containment measures being implemented and enforced.
- All Unlock Guidelines, all Standard Operating Procedure (SOPs) and all sections of the Mizoram Containment and Prevention of COVID-19 Ordinance, 2020 will be enforced very strictly.
- The meeting expressed concern over the opening of some classes (Class X and XII) in schools and also the increased vehicular traffic in Aizawl city and suggested that these need to be reviewed in a more detailed manner.
- State's Executive Committee under Mizoram State Disaster Management Authority is expected to issue a notification concerning COVID-19-No Tolerance Fortnight.
IMD COMMISSIONED FLASH GUIDANCE SERVICE
- India Meteorological Department commissioned the Flash Flood Guidance Services in South Asia on October 23, 2020. The Flood Guidance Service will include a warning about threats six hours in advance, warnings about risks 24 hours in advance.
- The warnings about flood are to be provided by the National and State Disaster Management Authorities and also by Regional Centre to National Meteorological and Hydrological Services.
- Flash floods are localized events which usually occur for less than six hours between the occurrence of rainfall and peak floods. Flash flood has significant impacts on the lives and properties of the population.
- Flash Flood Guidance System was approved at the 15th World Meteorological Congress. The flash flood guidance systems are created based on two concepts namely Flash Flood Guidance and Flash Flood Threat.
- Flash Flood Guidance is an index that indicates how much rainfall is required to overcome channel storage capacities and soil storage capacities to cause minimum flooding in a basin.
SEEKING CONSENT TO INITIATE CRIMINAL CONTEMPT
- An application has been filed before the Attorney General of India seeking his consent to initiate criminal contempt proceedings against the Chief Minister of Andhra Pradesh, Y S Jagan Mohan Reddy.
- The application for seeking consent to initiate criminal contempt is for making public allegations against Justice NV Ramana, judge of the Supreme Court.
- It has been two weeks since the release of the letter in the public domain, and as yet, there has been no suo-motu contempt action initiated by the Hon'ble Supreme Court of India.
- It was on October 6 that the Andhra Chief Minister sends the complaint to the CJI, alleging that certain judges of the High Court of Andhra Pradesh were biased towards the main opposition party in the State, the Telugu Desam Party.
- The explosive complaint alleged that Justice Ramana has been influencing the sittings of the High Court including the roster of a few judges in matters that are important to the TDP.