Daily Current Affairs Date 12th June 2021
TOPICS
- China Passes Law against Foreign Sanctions.
- ATM cash withdrawal rule changed.
- Assam CM Sarma launches Sishu Seva Achoni for COVID-19 Orphans.
- China, ASEAN agree to avoid provocations in South China Sea
- India-Kuwait MoU on Domestic Worker Recruitment
- Google to build longest Undersea Cable in the World.
- UNDP report on Aspirational Districts Programme.
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Questions-
Q- What are the main features of China’s law to counter foreign sanctions?
1) It is to retaliate against Western pressure and mitigate sanction impact.
2) This law also allowed the country’s accounts to punish companies that comply with foreign laws that damage national trust.
3) According to this loan the business of people in China do not had to comply with foreign restrictions.
Which of the following statement is or are correct?
a) 1 & 2
b) 2 & 3
c) All of the above
d) None of the above
China Passes Law against Foreign Sanctions
- China has passed a new legislation against foreign sanctions.
- With this law China seeks to build its defences against rising US and EU pressure on trade and human rights.
- China passed this law after accusing US of suppressing Chinese firms and issued veiled threats of retaliation.
- This was done after US President Joe Biden expanded a blacklist of companies wherein Americans are barred from investing in.
What are the provisions of new law?
Chinese law has following countermeasure provisions:
- Refusal to issue visas, denial of entry & deportation.
- Sealing, seizing, and freezing property of individuals and businesses which is attached to foreign sanctions against Chinese businesses or officials
- Restrictions can also be applied to family members of individuals who fall foul of China.
- It allows Chinese courts to punish companies complying with foreign laws that damage national interests.
Background
- China is complaining since long about extra-territorial application of US law by means of sanctions and restrictions on trade.
- Joe Biden is also criticizing China in recent months with respect to theft of intellectual property and alleged human rights abuses in Hong Kong and Xinjiang.
Blacklisted American Companies
- Several Americans companies are barred from investing in because of their links with Beijing’s military apparatus.
- 59 Chinese companies that are off-limits to American investors includes China Mobile, China Railway Construction Corp, video surveillance firm Hikvision and China National Offshore Oil Corporation (CNOOC).
Question
Q- Recently withdrawal charge on Cash ATM increased what are its possible implications.
1) It will help in the inclusion of more population in the digital economy.
2) It will help in the curb of the black money.
3) It will decrease the social divide in digital economy.
Which of the following statement is or are correct?
a) 1&2only
b) 2only
c) 1&3only
d) All of the above
ATM cash withdrawal rule changed
- Reserve Bank of India (RBI) has changed some rules regarding cash withdrawal from automated teller machine (ATM).
- New rules include high charges on transactions beyond free permissible limit, new free ATM transaction limit and increase in interchange fee.
- Changes were made on the basis of recommendations of Chief Executive committee it constituted in June 2019.
- Indian Banks’ Association reviewed entire ATM charges and fees with its focus on interchange structure for ATM transactions.
What are the new rules?
- New rules are listed below:
Free cash withdrawal limit from own bank:
- Bank customers can now do five free financial and non-financial transactions every month from their own bank ATMs.
Free ATM transaction limit from another bank:
- ATM card holders can do three free financial and non-financial transactions in metro centres while five in non-metro transaction from other bank ATMs
Charges on ATM cash withdrawal beyond free limit:
- RBI allowed banks to increase charges on ATM transactions beyond free ATM transaction limit.
Rise in interchange fee:
- Interchange fee per transaction changed from Rs 15 to Rs 17 for financial transactions while from Rs 5 to Rs 6 for non-financial transactions in effect from August 1, 2021.
New charges on ATM withdrawal beyond free transaction limit:
- Bank customer will have to pay Rs 21 (currently it is Rs 20) for each ATM cash withdrawal beyond free transaction limit in effect from January 1, 2022.
QUESTION
Q- Consider the following statement related to Shishu seva Achoni Yojana.
1) It is launched by Assam government
2) Scheme to provide relief to children who have lost both their parents due to covid-19
3) This includes financial aid of rupees 5000 per month and laptops to children.
Which of the following statement is or are correct?
a) 1&2
b) 2only
c) All of the above
d) None of the above
Assam CM Sarma launches Sishu Seva Achoni for COVID-19 Orphans
- Assam chief minister, Dr Himanta Biswa Sarma has dedicated Chief Minister Sishu Seva Scheme to the service of the beneficiaries and handed over the cheques of financial assistance to few beneficiaries who lost both their parents due to COVID.
- It may be noted that under the scheme an amount to the tune of Rs. 7,81,200 would be parked in the bank as fixed deposit in the name of each beneficiary.
- Monthly financial assistance of Rs. 3500 which will be realised from the fixed deposit will be given to the beneficiaries till they attain 24 years of age.
- On completion of 24 years of age, the principal amount parked as a fixed deposit against each beneficiary would be credited to their bank accounts.
Under the scheme:
- The State government would give Rs. 3500 per month per child including Central government support of Rs.
- For children below10 years and adolescent girls with no guardian, the State government will take steps to house such children in one of the child care institutions and provide adequate funding towards their upkeep including educational expenditure.
- Orphaned adolescent girls will be given accommodation in suitable and reputed institutions to ensure their sensitive care and proper protection.
- One such institution is Kasturba Gandhi Balika Vidyalaya residential schools.
Questions
Q- Which of the following countries are members of Association of Southeast Asian Nations (ASEAN)?
- Brunei
- Cambodia
- Laos
- Vietnam
Select the correct answer using the code given below:
a) 1 and 4 only
b) 2 and 4 only
c) 3 only
d) 1, 2, 3 and 4
China, ASEAN agree to avoid provocations in South China Sea
- Foreign ministers of Southeast Asia and China agreed during a meeting to exercise restraint in the South China Sea and avoid actions that could escalate tensions, the Association of Southeast Asian Nations (ASEAN) said on Tuesday.
- The ASEAN statement referred to a meeting on Monday in China of the ministers, and comes after separate diplomatic protests in recent weeks made by Malaysia and the Philippines over the conduct of China’s military and fishing fleet.
What is ASEAN?
- The Association of Southeast Asian Nations is a regional organization which was established to promote political and social stability amid rising tensions among the Asia-Pacific’s post-colonial states.
- The motto of ASEAN is “One Vision, One Identity, One Community”.
- 8th August is observed as ASEAN Day.
- ASEAN Secretariat – Indonesia, Jakarta. The last session of the UN general assembly was attended virtually by India’s external affairs minister S Jaishankar.
Question
Q-Consider the following statement related to India’s Kuwait MoU on domestic world
1) The MoU ensure the rights and obligation of both the domestic workers and the employer.
2) The MoU will establish a 24-hour assistance mechanism for domestic workers.
3) It will also establish a joint comment for assessment and review and follow up on the implementation of the MoU.
Which of the following statement is or are correct?
a) 1&2
b) 2,3
c) All of the above
d) None of the above
India-Kuwait MoU on Domestic Worker Recruitment
- India and Kuwait signed an MoU on cooperation on domestic worker recruitment on June 10, 2021.
- This MoU will bring Indian domestic workers in Gulf nation within the legal framework which will provide them protection under law.
- Agreement will also streamline recruitment of domestic workers.
- It will ensure rights and obligations of domestic workers as well as employer.
- A 24-hour assistance mechanism will be established to assist domestic workers.
- A joint committee will also be set up to assess and review periodically on implementation of MoU.
Background
- MoU was signed between Indian Ambassador Sibi George and Deputy Minister for Foreign Affairs of Kuwait Majdi Ahmad Al-Dhafiri during a three-day bilateral visit of External Affairs Minister S Jaishankar in Kuwait to mark 60th anniversary of establishment of bilateral relations between India and Kuwait.
Indians in Kuwait
- Community of Indians in Kuwait comprises of Indian expatriates in Kuwait and Kuwaiti citizens of Indian origin or by descent.
- As per Indian ministry of external affairs, about 10 lakh Indians are residing in Kuwait as of 2020.
- Majority of Indians belong to Kerala and Tamil Nadu. India is one of the largest trading partners of Kuwait and Kuwait is a key supplier of oil to India.
Questions-
Q- Which tech giant built longest undersea cable in the world?
a) Apple
b) Google
c) Microsoft
d) IBM
Google to build longest Undersea Cable in the World
- Alphabet’s Google is all set to build world’s longest undersea cable connecting United States, Brazil, Argentina and Uruguay.
- This undersea cable will boost internet connection capacity in these regions.
- Undersea cable, called Firmina, will run from East Coast of United States to Las Toninas, Argentina along with additional landings in Praia Grande, Brazil, and Punta del Este, Uruguay.
- Announcement was made following a surge in demand for internet and cloud services amid covid-19 pandemic which has pushed online shopping, online entertainment, online and work from home culture.
Significance of Firmina-
- Firmina undersea cable will improve access to Google services for users in South America.
- It will comprise of 12 fibre pairs which will carry traffic quickly & securely between North & South America.
- It will thus provide the users fast, low-latency access to Google products like Gmail, Search, YouTube and Google Cloud services.
Alphabet Inc.
- This American multinational conglomerate, with headquarter in California, was created by restructuring Google on October 2, 2015.
- It has become the parent company of Google and other subsidiaries of google.
- It is world’s fourth-largest technology company by revenue.
Q-Which organisation released the report Human Development index (HDI) for 2021?
a) WEF
b) World Bank
c) UNICEF
d) UNDP
Also Read: Daily Current Affairs Date 11th June 2021
UNDP report on Aspirational Districts Programme
- United Nations Development Programme (UNDP) India has released an independent report and lauded Aspirational Districts Programme (ADP) as ‘a successful model of local area development.
- As per the report, ADP should serve as a best practice for other countries where regional disparities are persisting with respect to development.
- Report highlights, ADP has made concerted efforts due to which neglected districts in remote locations and those districts affected by Left Wing Extremism are on positive trajectory of growth with more growth and development in last three years.
- Health & nutrition, education, and agriculture & water resources have registered massive improvements.
- UNDP on health & nutrition and financial inclusion
- As per the report, more than 9.6% home deliveries are attended by skilled birth attendant.
- About 5.8% more pregnant women with severe anaemia, and 4.8% children diagnosed with diarrhoea are treated.
- In the first trimester, 4.5% pregnant women register for antenatal care.
- Under Pradhan Mantri Jeevan Jyoti Bima Yojana, about 1580 accounts opened per 1 lakh population.
- UNDP found ‘Malaria Mukt Bastar Abhiyaan’ in Bijapur and Dantewada as one of the best practices in ADP.
- This abhiyaan has reduced malaria incidences by 71% and 54% in two districts respectively.
Aspirational Districts Programme (ADP)
ADP was launched by Prime Minister Narendra Modi in January 2018. It is a part of government’s effort to raise living standards of its citizens and ensure inclusive growth for all under his vision of ‘Sabka Saath Sabka Vikas’.
