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23 February 2016 Current Affairs

Union Govt. to sell 5% stake in NTPC

“Government has decided to sell 5% stake in NTPC via offer-for-sale (OFC). NTPC is the first company to hit the markets under the revised OFS guidelines of the market regulator SEBI. The government has fixed a floor price for the sale of over 41.22 crore shares in NTPC at Rs 122 a piece, a 3.82% discount to its closing price on the BSE. While the issue would open for institutional bidders on February 23, the retail investors, for whom 20% shares have been reserved, will get to bid on February 24. At a floor price of Rs 122, the NTPC share sale would fetch about Rs 5,030 crore to the exchequer.NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.”

E-Governance Vision 2020 of ECI

On 23 February 2016 the term ‘E-Governance Vision 2020’ was in news. It was in news because Chief Election Commissioner (CEC) Dr. Nasim Zaidi during a Seminar on ‘Leveraging Technology for Transparent and Credible Elections’ said the Election Commission of India(ECI) is working on it. The ‘E-Governance Vision 2020’ will provide inclusive, integrated single window view of services to all stakeholders in all phases of the electoral cycle using multiple channel of delivery. The Vision 2020 will have five strategic goals and 11 mission mode projects wherein some of priority areas will be in mobile apps, social media, knowledge and learning management. The Vision 2020 is in line with the increase of use of Information, Communication and Technology (ICT) in elections on priority by virtually every Election Management Bodies (EMB) around the world.

Nepal lifts fuel restrictions

With significant improvement in fuel supplies from India, Nepal on 23 February 2016 ended its five-month-long rationing of petroleum products imposed after the turbulence over the new Constitution that saw a crippling blockade of key border trade points in the landlocked country.The move brought cheer to thousands of people in the Himalayan nation who, under the quota, were getting merely five litres of petrol for two-wheelers and 15 litres for four-wheelers at a time besides half-filled LPG cylinders.Supply of petroleum products from Indian Oil Corporation is increasing with every passing day.

India remains world’s largest arms importer

According to latest report of the Stockholm International Peace Research Institute (SIPRI) on global arms purchases, India continues to remain the world’s largest arms importer. India accounted for 14% of the global imports in the 2011-2015 timeframe. India’s arms imports remain three times greater than those of its rivals China and Pakistan. Its biggest suppliers are Russia, the US, Israel and France. After India, China ranks second in the global arms import list with 4.7%, followed by Australia (3.6%), Pakistan (3.3%), Vietnam (2.9%) and South Korea (2.6%). China used to top the imports chart earlier but has gradually built a stronger defence industrial base or DIB over the last couple of decades to even emerge as the world’s third largest arms exporter after the US and Russia.

RBI extends currency swap arrangement with SAARC nations

In order to enhance economic cooperation and strengthen financial stability, RBI has extended the $2 billion currency swap arrangement to SAARC nations till mid-November 2017.The Reserve Bank said in a notification on 23 February 2016 that it has decided to extend the SAARC Currency Swap Arrangement till November 14, 2017.Under the arrangement, RBI is to offer swap arrangement up to an overall amount of $2 billion both in foreign currency and Indian rupee.The SAARC Swap Arrangement was offered by the RBI to SAARC nations on November 15, 2012.The facility will be available to all SAARC member countries — Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka.The swap amount available to various member central banks has been arrived at broadly based on two months import cover subject to a floor of $100 million and a maximum of $400 million per country.

Ex-CJI Justice Dattu to head NHRC

The government of India on 23 February 2016 former Chief Justice of India H L Dattu appointed the   as the next chairperson of the National Human Rights Commission (NHRC).The post of NHRC chairperson had been lying vacant since May 2015 after Justice K G Balakrishnan completed his nearly five-year-long tenure.Under the Protection of Human Rights Act, 1993, the President appoints the chairperson and members of the NHRC on the recommendation of a committee comprising the Prime Minister, Lok Sabha Speaker, Union Home Minister, leaders of Opposition in Lok Sabha and Rajya Sabha, and Deputy Chairman of Rajya Sabha. The committee’s recommendation of Dattu for the post has been sent to President Pranab Mukherjee for his approval. On appointment, Justice Dattu will have a tenure of five years at the post.

Pak parliament becomes first in world to run entirely on solar power

Pakistan parliament became the first in the world to completely run on solar power, a venture supported by China with $55 million funding. Prime Minister Nawaz Sharif on 23 February 2016 switched on solar-powered building of the parliament in capital Islamabad.First announced in 2014, the venture has been funded by the Chinese government as an act of friendship, with the solar power plant costing around $55 million. The project to run parliament on solar power was launched last year when Chinese President Xi Jinping visited and addressed the parliament. China provided over $55 million to carry out the project.

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