Current Affairs for SSC CGL Exams - 06 January 2019

SSC CGL Current Affairs

Current Affairs for SSC CGL Exams - 06 JANUARY 2019

::NATIONAL::

Centre rejects RTI plea on CBI chief’s removal

  •  The Centre has denied RTI requests for information on how Central Bureau of Investigation (CBI) Director AlokVerma was divested of his powers last October. It is also unwilling to provide information on the ongoing selection process to appoint his successor, once his term finishes end of the month.
  •  On October 23, 2018, the Department of Personnel and Training (DoPT) and the Central Vigilance Commission (CVC) invoked powers of superintendence over the CBI to issue orders divesting Mr.Verma of his powers. The legal validity of those orders is now under challenge in the Supreme Court.
  •  National Campaign for People’s Right to Information co-convenor Anjali Bhardwaj filed RTI requests with both the DoPT and the CVC, asking for copies of the relevant orders as well as related file notings and correspondence.
  •  “In a democracy, it is important to have transparency in the appointment and removal of key players in our institutions,” said Ms.Bhardwaj. “The government is also not sharing information on the process to appoint his successor.”

::ECONOMY::

Centre to focus on welfare of Jute farmers

  •  Textiles Minister SmritiIrani today said, government has taken various initiatives to improve the lives of people associated with the textile sector.
  •  Inaugurating a day-long National Conclave - Accomplishment and Way Forward for Textile sector - in New Delhi, Ms Irani said, welfare of the farmers in the jute sector is something which is being given special focus by the government.
  •  Our correspondent reports that the objective of the conclave is to highlight the achievement of the textile sector and to chart out a road map for building new capabilities for sustainable and resource efficient growth of the sector.
  •  The event will have deliberation on issues ranging from technical textiles, ease of doing textiles business and access to global markets and global supply chain.

SEBI changes disclosure norms of traders in commodity derivative exchanges

  •  Commodity derivatives exchanges will now have to disclose the quantum of trading done by farmers and other commodity market participants like millers and wholesalers on the exchange platform, as the capital market regulator has tweaked the disclosure norms for such bourses.
  •  In a circular issued on Friday, the Securities and Exchange Board of India (SEBI) directed commodity bourses to disclose the open interest and turnover of various categories of participants like farmers, farmers producer organisations (FPOs), value chain participants, proprietary traders, foreign participants, and domestic financial institutional investors
  •  Value chain participants include processors, commercial users like dal and flour millers, importers, exporters, physical market traders, stockists, cash and carry participants, produces and wholesalers among others.
  •  Currently, commodity derivatives exchanges disseminate turnover data for only two broad categories of participants - clients and proprietary.
  •  Incidentally, the SEBI move assumes significance also because a large section of market players believe that the commodity market turnover is largely dominated by speculators and other participants that are not genuinely connected with the commodity segment.

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::INTERNATIONAL::

Chinese President urges armed forces to strengthen urgency and prepare themselves for battle

  •  China’s armed forces must strengthen their sense of urgency and do everything they can to prepare for battle, President Xi Jinping told a meeting of top brass on Friday.
  •  China is keen to beef up its armed forces amid territorial disputes in the South China Sea and escalating tension with the U.S. over issues ranging from trade to the status of Taiwan.
  •  The official Xinhua agency said Mr. Xi told a meeting of the top military authority that China faced increasing risks and challenges, and the armed forces must work to secure its security and development needs.
  •  Mr. Xi, who is also chairman of the Central Military Commission, said the armed forces must devise strategies for the new era and take on responsibilities for preparing and waging war.
  •  Mr. Xi’s comments followed his remarks on Wednesday that China still reserved the right to use force to achieve “reunification” with Taiwan and prevent the island’s independence. The Taiwan speech came just days after U.S. President Donald Trump signed the Asia Reassurance Initiative Act into law, reaffirming the U.S. commitment to its security.
  •  Mr. Xi’s call for battle preparedness also came as acting U.S. Defense Secretary Patrick Shanahan told the U.S. forces that he sees China as a key priority. “While we are focused on ongoing operations, Acting Secretary Shanahan told the team to remember China, China, China,” reports from Washington quoted a U.S. defence official as saying.

Abu Dhabi crown prince holds meeting with Pak PM

  •  Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan met Pakistan Prime Minister Imran Khan here Sunday as the cash-strapped country seeks economic assistance to bolster its foreign exchange reserves and the government’s fiscal policies.
  •  Pakistan, reeling under severe financial crisis, reached out to some “friendly countries” for economic assistance including Saudi Arabia, China and the UAE since Prime Minister Khan assumed office in August.
  •  Pakistan and the UAE last week finalised the terms and conditions of a USD 6.2 billion support package for Islamabad, which the crown prince is expected to announce during his visit, the report said, adding that the package is to help Islamabad address its balance of payment crisis.
  •  With the new package, Pakistan will save a total of about USD 7.9 billion on oil and gas imports from the UAE, accounting for over 60% of the annual oil import bill amounting to roughly USD 12 to 13 billion, the news report said.
  •  Pakistan is negotiating a USD 8 billion bailout package from the International Monetary Fund (IMF) to overcome a severe balance-of-payments crisis that threatens to cripple the country’s economy.

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