9 PM Current Affairs Brief – September 19th, 2018

The economics of RCEP and potential outcomes for India News: Importance of RCEP negotiations and concerns raised by India. RCEP – Comprises the 10-member Asean grouping and its six free trade partners, including China, India, Japan, South Korea, Australia and New Zealand. ASEAN Members: Brunei, Indonesia, Laos, Cambodia, Vietnam, Malaysia, Singapore, Thailand, Philippines, Myanmar Important… Continue reading The economics of RCEP and potential outcomes for India

U.S., China step up trade war, slap tit-for-tat tariffs News: U.S and China announced new tariff on Imports from each other Important Facts: U.S has announced 10 % import tariff on China and China retaliated with 5 % to 10 %. U.S. tariffs will apply to $250 billion of Chinese goods and Chinese tariffs will… Continue reading U.S., China step up trade war, slap tit-for-tat tariffs

PT fact Elon Musk’s SpaceX names Japanese billionaire as first moon traveller A Japanese billionaire and online fashion tycoon, Yusaku Maezawa, will be the first man to fly on a monster SpaceX rocket around the Moon as early as 2023 Maezawa will be the first lunar traveller since the last US Apollo mission in 1972.… Continue reading PT fact

Will China lose ‘world’s factory’ tag? Article   Paran Balakrishnan talks about recent US tariff sanctions on Chinese products and how it could affect the whole Asia in both positive and negative manner.   US President Donald Trump has authorized a new round of tariffs on an additional $200 billion of Chinese goods, bringing the total to… Continue reading Will China lose ‘world’s factory’ tag?

Every 5 seconds, a child under 15 dies around the world: UN News: UN released new mortality estimates to highlight deaths of children in the first 5 years of their life. Important Facts: The new mortality estimates are jointly released by UNICEF, WHO, UN  Population Division and the World Bank Group.  Findings of the report:… Continue reading Every 5 seconds, a child under 15 dies around the world: UN

Celestial misfit News Group of Planetary physicist questions IAU on removal of Pluto as a planet. Important fact In 2006 the IAU removed the Pluto planetary status and designated it as a Dwarf Planet. Argument proposed by IAU to remove planetary tag A planet must be an object which independently orbits the Sun (this means… Continue reading Celestial misfit

RRBs facing capital headwinds News Regional Rural Banks(RRB) are facing capital crunch because of worsening balance sheets of sponsor banks and the apathy of Central and State governments. Important Facts RRBs were introduced in 1975 as a low-cost model to ensure credit availability to rural population. In past RRBs have been able to meet  rural… Continue reading RRBs facing capital headwinds

Seaplane plans in troubled waters News The government has proposed seaplane operations to ease transport and boost business and tourism. Important facts Unlike a conventional aircraft, a seaplane can land both on a waterbody and on land. Seaplane helps to increase connectivity without building highways and runways. Presence large number of natural water bodies in… Continue reading Seaplane plans in troubled waters

Government panel recommends setting up an independent Payments Regulatory Board News Finance Minister proposed about creation of Payment Regulatory Board (PRB) in Budget 2017-18. Key Facts The government has set up Subhash Garg committee to re-examine the draft Payment and Settlement System Bill. Objectives of the draft Payment  and Settlement Bill Foster competition Consumer Protection… Continue reading Government panel recommends setting up an independent Payments Regulatory Board

The Bhavantar Bhugtan Yojana experiment Article Harsh Kumar Bhanwala and Nirupam Mehrotra analyze Bhavantar Bhugtan Yojna (price differential scheme) and its impact in Madhya Pradesh Important analysis What is Bhavantar Bhugtan Yojna? The scheme is to compensate farmers in the event of a price crash and to that extent hedge the price risk, faced by… Continue reading The Bhavantar Bhugtan Yojana experiment

Govt penalizes insurers for delay in settling crop insurance claims News Government has proposed new guidelines for Pradhan Mantri Fasal Bima Yojna (PMFBY) to be implemented from upcoming Rabi season Need for renewed guidelines Decline in enrollment of farmers under the scheme which is down by 15% from its inception Delay in claim settlement to… Continue reading Govt penalizes insurers for delay in settling crop insurance claims