GK for Bank Exams: Weekly Digest: Sep 25 to Oct 1

500 Meter telescope goes live in China

Five-hundred-meter Aperture Spherical Telescope (FAST for short), the most advanced radio telescope and the largest in the world became operational in China.
 FAST has a 500-meter diameter dish.

• This is the world's largest filled-aperture radio telescope
• FAST will be used to study dark matter, gravitational waves, pulsars, and fast radio bursts.
• This will also be useful to study extraterrestrial lives.
• The telescope is placed deep in the mountains of south-west China's Guizhou Province.
• This is nicknamed Tianyan which means "The Eye of Heaven"
• The basic design of FAST is similar to the Arecibo Observatory radio telescope.

FAST Telescope

Arecibo Observatory

• The Arecibo Observatory is a radio telescope in the municipality of Arecibo, Puerto Rico, United States of America.
• 1,000-foot (305-metre) radio telescope is the second largest single-aperture telescope.
• This has made attempts to communicate with potential extraterrestrial life, Search for Extra-Terrestrial Intelligence (SETI), Messaging to Extra-Terrestrial Intelligence (METI) with active search by transmitting messages.

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Ratification of the Paris Agreement by India

COP21 - CMP11

The 2015 United Nations Climate Change Conference, COP 21 or CMP 11 (What are these code words? - check out at the end of this topic) was held in Paris, France, from 30 November to 12 December 2015.

• India was a signatory this agreement. 
• India announces to ratify the Paris Climate Agreement on 2 October, on Mahatma Gandhi’s Jayanti.
• The Paris Agreement is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC) dealing with greenhouse gases emissions mitigation, adaptation and finance for reducing greenhouse gases.
• The Paris Agreement was made at the 21st Conference of the Parties of the UNFCCC in Paris and adopted by consensus on 12 December 2015
• It was opened for signature on 22 April 2016 (Earth Day)
• The agreement will only enter into force provided that 55 countries that produce at least 55% of the world's greenhouse gas emissions ratify, accept, approve or accede to the agreement. As India is the third highest greenhouse gas contributor after USA and China, ratification by India will boost the process of making the agreement enters into force.

It was the 21st yearly session of the Conference of the Parties (COP) to the 1992 United Nations Framework Convention on Climate Change (UNFCCC), hence COP 21 and the 11th session of the Meeting of the Parties to the 1997 Kyoto Protocol, hence CMP11.

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War between Lodha Panel and Indian board

The Lodha committee was formed by the Supreme Court on January 22, 2015; after the Mudgal committee, appointed as an investigator into the IPL 2013 scandal, submitted its report.The committee, comprising retired Chief Justice of India, R M Lodha, and others.

It had three main tasks to perform:

• Determine appropriate punishments for Gurunath, Kundra and their respective franchises, Chennai Super Kings and Rajasthan Royals, following on from the Mudgal report.
• Examine the role of Sundar Raman, the IPL chief operating officer, in the IPL 2013 scandal.
• Suggest amendments to the processes followed by the BCCI with a view to preventing frauds in cricket and conflict of interests, and also streamline the board's working.

Now it is news as the Lodha Panel is angry over meeting conducted by BCCI office bearers and advocating for superseding of the board, which is not all important for the bank exams.

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India climbs to 39^th rank on Global Competitiveness Index

• India has climbed 16 places to the 39th rank on the Global Competitiveness Index- 2016-17 prepared by the World Economic Forum.
• Switzerland as the most competitive economy whereas Singapore and the US are at the second and third positions, respectively.
• India is also the second-most competitive among BRICS nations behind neighbouring China, which is ranked at the 28th position.

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Shimon Peres: Israel's warrior for peace dies

• Shimon Peres was an Israeli statesman and the ninth President of Israel, recognised and well-respected in Israel and across the globe.
• He was honoured with Nobel Peace Prize along with Yasser Arafat's PLO organisation for his effort to bring peace in the region.

Israel is a country in the Middle East, on the southeastern shore of the Mediterranean Sea and the northern shore of the Red Sea.

• Capital and largest city- Jerusalem
• Currency- New shekel

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Obama Nominates First Ambassador to Cuba in Over 50 Years

Cuba is located in the northern Caribbean where the Caribbean Sea, the Gulf of Mexico, and the Atlantic Ocean meet.

• Havana is the largest city and capital.
• Currency- Peso.
• It had a close relationship with the Soviet Union in the Cold War.
• Cuba is a Marxist–Leninist one-party republic.
• The USA had a bitter relationship with Cuba till recently and both the countries are now negotiating towards building a good relationship.
• Fidel Castro is the well-known revolutionary leader of Cuba.

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Volkswagen fails emission test

• The news - Volkswagen fails emission tests. (Not an important news for us)
• Volkswagen is a German automobile maker
• The testing agency found the company’s diesel models to be emitting more than expected nitrogen oxide (NOx).
• What is important for us is the few brands the Volkswagen owns: Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT and Skoda

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Saksham project for CBEC’s GST integration

• After the roll out of GST law, all importers/exporters/taxpayers administered by the CBEC (Central Board of Excise and Customs) will go over 65 lakhs from the existing figure of about 36 lakhs.
• Saksham will integrate tax systems of the CBEC with the Goods and Services Tax Network (GSTN) for a smooth roll out of the new indirect tax regime from April 1, 2017
• The project will help in the implementation of GST, extension of the Indian Customs Single Window Interface for Facilitating Trade (SWIFT) and other taxpayer-friendly initiatives under Digital India.
• It will link with the Central Board of Excise and Customs’ internal system directly, and enable a uniform way of collecting taxes, pan-India.

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India, Bangladesh and Afghanistan boycotts SAARC Summit 

SAARC Member Nations

• SAARC stands for South Asian Association for Regional Cooperation.
• SAARC was founded in Dhaka in 1985. Its secretariat is based in Kathmandu.
• Its member countries include Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka. (total- 8)
• The organisation promotes the development of economic and regional integration.
• It launched the South Asian Free Trade Area in 2006

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Indus Water Treaty

Indus Waters Treaty was signed on September 19, 1960, by India and Pakistan; was brokered by the World Bank.

• The treaty administers how river Indus and its tributaries that flow in both the countries will be utilised.
• Beas, Ravi and Sutlej are to be governed by India, while, Indus, Chenab and Jhelum are to be taken care by Pakistan
• Since Indus flows from India, the country is allowed to use 20 percent of its water for irrigation, power generation and transport purposes.
• A Permanent Indus Commission was set up as a bilateral commission to implement and manage the Treaty. The Commission solves disputes arising over water sharing
• The treaty also provides arbitration mechanism to solve disputes amicably.
• Though Indus originates from Tibet, China has been kept out of the Treaty. If China decides to stop or change the flow of the river, it will affect both India and Pakistan.

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Surgical strikes: India crosses LoC

In a stunning reprisal for the Uri terror attack that breached decades of self-imposed restraint, India conducted “surgical strikes” across the Line of Control (LoC) in Pakistan-occupied Kashmir.

• Line of Control (LoC) refers to the military control line between the Indian and Pakistani-controlled parts of state of Kashmir and Jammu
• It does not constitute a legally recognised international boundary but is the de facto border.
• Originally known as the Cease-fire Line, it was redesignated as the "Line of Control" following the Simla Agreement.
• Another ceasefire line separates the Indian-controlled state of Jammu and Kashmir from the Chinese-controlled area known as Aksai Chin.
• Lying further to the east, it is known as the Line of Actual Control (LAC) and has been referred to as one of the most dangerous places in the world.

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India, Afghanistan and Iran discuss ways to take Chabahar pact further

A Trilateral meeting was held between India, Afghanistan and Iran to discuss the agreement on Establishment of International Transport and Transit Corridor i.e. Chabahar Agreement.

• The Chabahar Agreement was signed by them on 23rd May 2016 in Tehran, Iran.
• The agreement allows Indian goods to reach Afghanistan through Iran. It links ports in the western coast of India to the Chabahar port in Iran and covers the road and rail links between Chabahar and the Afghan border.