9 PM Daily Current Affairs Brief – August 1, 2017

The Manila envelope: Context India has decided to provide a financial assistance of $5,00,000 (Rs. 3.2 crore) to the Philippines to aid its fight against the Islamic State (IS) affiliated terror groups in the troubled Mindanao province. Emerging Security Provider For the first time India is sending assistance to another nation to help it fight… Continue reading The Manila envelope:

An embarrassment of riches:  Context: The finance minister, in a written reply to the Rajya Sabha on July 25, said that the bank is in the process of reconciling the notes to obviate any errors. Key points: According to media reports, by early January 2017, more than 90 per cent of the demonetised currency notes… Continue reading An embarrassment of riches: 

The Reserve Bank is off target: Context: One of the significant actions of the government of the day is to have moved monetary policy in India onto a “modern “plane. Introduction: The RBI has been reconfigured as an ‘inflation-targeting’ central bank. As part of this arrangement, it has been set an inflation target of 4%.… Continue reading The Reserve Bank is off target:

5 chemicals banned in firecrackers: Context The Supreme Court prohibited the use of five chemicals, labelled as toxic by the Central Pollution Control Board (CPCB) ahead of the festive seasons of Dussehra and Deepavali. Judicial remark A Bench of Justices Madan B. Lokur and Deepak Gupta gave the order, that no firecrackers manufactured by the… Continue reading 5 chemicals banned in firecrackers: