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15 JULY 2017 Current Affairs from The Hindu

Kunal Sir, Published On:15-Jul-2017

 CURRENT AFFAIRS: 15.07.2017


1.   EU, India set up fund for investments


·       The establishment of an “Investment Facilitation Mechanism (IFM) is announced by India and EU for investment in India by EU.

·       This new mechanism will make a close coordination between the EU and Government of India (GOI).

·       The aim of the new mechanism is to promote and facilitate EU investment in India.

·       The IFM will also help in paving the way in identifying and solving the problems faced by EU companies and investors regarding their operations in India.

·       Under IFM, new as well as already established investors will be covered.

·       This will serve as a platform for discussing suggestion from EU’s companies as well as investors point of view.

·       This will be beneficial in long term as it will help to boost and encourage the EU investors to avail the investment opportunities available in India.


Summit in Brussels

·       The IFM was built on the Joint Statement of the 13th EU – India summit which was held in March 2016 in Brussels.

·       In this summit EU welcomed India’s readiness to establish this kind of mechanism.

·       Even the leader from both the sides reaffirmed their shared commitment for opposing protectionismand will work in the favour of a fair, transparent and rule based trade and investment environmentin both the countries.

·       It was also affirmed that EU Delegation to India and DIPP will hold regular high-level meetings so that they can assess and facilitate “ease of doing business” for the European Union investors in India.

·       DIPP – nodal body for foreign direct investment policy.

·       “Invest India”,the official Investment Promotion and Facilitation Agency of India will also be a part of the IFM.


European Union

Ø The European Union (EU) is a political and economic union of 28-member states which are located primarily in Europe.

Ø Nineteen of the countries use the euro as their official currency.

Ø The EU grew out of a desire to form a single European political entity to end the centuries of warfare among European countries that culminated with World War II, which decimated much of the continent.

Ø  The European Single Market was established by 12 countries in 1993 to ensure the so-called four freedoms: the movement of goods, services, people and money.

Source: The Hindu



2. India’s first solar-powered DEMU train launched


·       Country’s first solar-powered local train was launched by railways yesterday.

·       This train has a battery bank facility which ensure sufficient power even in the absence of sunlight.

·       The all electrical need of all the coaches including lights, fans and information display systemwill be met from the energy stored by solar panels.

·       The solar panels are fitted atop the coaches of the DEMU (diesel electric multiple unit) train.

·       DEMU trains are a multiple unit trains which are powered by on-board engine without a separate locomotive – provides powers for passenger’s comfort system like lights and fans, from a diesel-driven generator.

·       The railways are now on the track to use more of non-conventional sources of energy.

·       Earlier also railways tool many environment-friendly measures like using bio-toilets, water-recycling, waste disposal, CNG and LNG, and harnessing wind energy.

·       This train is 16,00 horsepower train and it is manufactured at the Integral Coach Factory (ICF) in Chennai.

·       Train’s solar system and panels have been developed and fitted by the Organisation of Alternative Fuel (IROAF).

·       Railways have a target of fitting this system to twenty-four more coaches within six months.

·       This system also helps in reducing diesel consumption as well as carbon signature of trains by reducing CO2 generation by 9 tonnes per coach per year.


Solar Panels


Ø solar panels absorb the sunlight as a source of energy to generate electricity or heat.

Ø photovoltaic system employs solar panels, each comprising a number of solar cells, which generate electrical power. PV installations may be ground-mounted, rooftop mounted or wall mounted. The mount may be fixed, or use a solar tracker to follow the sun across the sky.

Ø Solar PV has specific advantages as an energy source: its operation generates no pollution and no greenhouse gas emissions once installed, it shows simple scalability in respect of power needs and silicon has large availability in the Earth’s crust.

Ø The majority of solar panels can produce eight to ten kilowatts of energy per square foot.

Ø solar power ca be used to run air conditioners, hot water heaters, and everything natural gas, electricity, or oil currently fuels.

Ø It’s the cheaper, safer, and more eco-friendly solution.

Source: The Hindu




3.AIIMS to set up skin bank, also plans to develop artificial skin

·       AIIMS is going to establishNorth India’s first government-run skin bank facility.

·       As the cases of burn injuries and reconstruction surgeries involving skin are rising day by day.

·       AIIMS is also developing “artificial skin” in collaboration with the Indian Institute of Technology (IIT), Delhi.

·       Artificial skin will help to bridge the gap in demand and supply of skin donation.

·       The facilities in hospital will use technology to preserve donated skin for a period of 4-5 years like using anti-bacterial properties to preserve frozen skin and the skin will be taken from the legs, thighs and back.


Important points to remember


Ø Delhi witness over 70,000 burn injuries per year.

Ø 50-60% burn injuries require reconstruction surgery.

Ø Patients also require skin for reconstruction in congenital, trauma & cancer-related surgeries.

Ø Any person can donate skin irrespective of sex and blood group.

Ø The minimum age of a donor should be 18 years.

Source: The Hindu


4. APG meet on money laundering in Colombo


·       The Asia Pacific Group (APG) on Money Launderingmeet will held next week in Colombo from July 17 to 21.

·       41 countries will participate including India.

·       In this meeting, the Financial Action Task Force’s (FATF) initiatives including curbing money laundering and terror funding in different parts of the world will be discussed.

·       The crucial meeting would also be attended by Philippines (security forces are engaged in fierce battle with Islamic State-linked militants.

·       Other countries participating are Afghanistan, Bangladesh, Bhutan, Myanmar, Nepal, Singapore, Maldives, United States, Australia, Canada, China and Pakistan.


Asia Pacific Group on Money Laundering


Ø The Asia/Pacific Group on Money Laundering (APG) is an autonomous and collaborative international organisation founded in 1997 in Bangkok, Thailandconsisting of 41 members and a number of international and regional observers

Ø Some of the key international organisations who participate with, and support, the efforts of the APG in the region include the Financial Action Task Force, International Monetary Fund, World Bank, OECD, United Nations Office on Drugs and Crime, Asian Development Bank and the Egmont Group of Financial Intelligence Units.

Ø APG members and observers are committed to the effective implementation and enforcement of internationally accepted standards against money laundering and the financing of terrorism, in particular the Forty Recommendations of the Financial Action Task Force on Money Laundering (FATF).


The APG has five primary functions:


§  Mutual evaluations:   assess compliance by APG members with the global AML/CFT standards through a mutual evaluation (peer review) programme;

§  Technical assistance and training:  coordinate bi-lateral and donor-agency technical assistance and training in the Asia/Pacific region in order to improve compliance by APG members with the global AML/CFT standards;

§  Typologies research:  conduct research and analysis into money laundering and terrorist financing methods to better inform APG members and the general public of trends, methods, risks and vulnerabilities of the financial and non-financial sectors to these crimes.

§  Global policy development:  participate in, and contribute to, policy development of the international AML/CFT standards by active participation in the global network of FSRBs; and

§  Private sector engagement:  provide information to the private sector to better inform them of international developments in AML/CFT and provide a forum for them to engage with the APG.

§  The APG also assists its members to establish national coordination mechanisms to better utilise resources to combat money laundering and terrorist financing.

Source: The Hindu




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