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9 PM Daily Current Affairs Brief – 14 March 2017

Front Page / NATIONAL [The Hindu]

[1].Curbs on cash withdrawal lifted

Editorial/OPINION [The Hindu]

[1].For a bold foreign policy

Economy [The Hindu]

[1]. Non-life premia set to increase

Indian Express

Live Mint

Front Page / NATIONAL

[1].Curbs on cash withdrawal lifted


The Hindu



Restrictions on cash withdrawals due to demonetisation


What has happened?

  • Restrictions on cash withdrawals, which came into effect from November 9, 2016, following the ban on high-value currency notes lifted. The RBI announced the easing of curbs during its bimonthly monetary policy review
  • While the limits on current accounts were lifted earlier, restrictions on savings account deposits is also lifted now
  • Though no limit on cash withdrawals, currency in circulation is still far below the pre-November 8, 2016, levels


Fact Check:

The currency in circulation till the week ended March 3 was Rs. 11,984.1 billion which is 67% of the currency in circulation, pre-demonetization.


[1].For a bold foreign policy


The Hindu



National interest is not served by avoiding problems left over by a previous order


Moving to a multipolar world

Increasing Leverage of China:

  • The China-led Asian Infrastructure Investment Bank & the New Development Bank of the BRICS could provide the required $8-15 trillion, marginalising the World Bank.
  • China is projecting the One Belt, One Road (OBOR) initiative as a replacement for the U.S.-led post-1950 multilateral institutions.


Trump’s Approach

Questions Role of the UN:

  • Trump Favoring bilateral Deals instead of International Co-operation
  • Resetting priorities of the UN away from peacekeeping, environment and human rights to trade
  • Prepared to limit imports and boost exports even at the cost of upsetting long-standing agreements and allies


  • Other rich countries like Japan and the U.K. are likely to adopt this new template of Trump (America First) doing away with concessions to others
  • consequences for the World Trade Organisation, in particular if the WTO dispute resolution panels rule against the U.S., leading to a questioning of the rule-based system itself

Sees China as greatest Threat:The combination of military and economic strength creates a strategic situation where, like in the Cold War, the U.S. will need to seek a “constructive relationship” in Asia rather than dominance and may join the OBOR


Asian connectivity and India

  • Chinese exports to the U.S. are declining, the shift to a consumption-driven economy will open markets for U.S. goods
  • India is more vulnerable with two-thirds of the exports of the $150-billion IT industry to the U.S. and the ‘Make in India’ strategy colliding with Mr. Trump’s priorities, requiring India to make strategic choices.


Author Suggests

  • Need a bold vision on Kashmir and must not just seek to isolate Pakistan
  • Should join the OBOR, while maintaining our reservations on its branch passing through Kashmir, and become part of the growing Asian market
  • With world-class cyber-space-biotech capability, we should reconsider large-scale purchases from abroad for massive investment in cybersecurity and the related digital economy that will make the ‘Digital India’ initiative into ‘Digital Asia’.


[1]. Non-life premia set to increase


The Hindu



Consistent losses, falling interest rates may force insurers to go in for hike


What has happened?

  • In view of the consistent losses arising from large claim settlements and other negatives like falling interest rates that will crimp their investment income, non-life insurers are planning to increase premium rates by 10-15% in certain segments to protect their bottomline


  • Segments likely to be affected: total 10 segments including, pharma, power and cement under property and even group health insurance


  • The largest non-life insurer New India is also set to hike premium in certain segments, like fire and group health in the new fiscal


New strategy

Private sector non-life insurer SBI General:

Three-pronged strategy — better efficiency, better expense control and better selection


Give the rest of the article a go through.


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