Explanation :

The recent merger of the three banks will lead to creation of the third largest entity after SBI and ICICI Banks in India. The Bank of Baroda is the largest of the three banks and will be the transferee bank while Vijaya Bank and Dena Bank will be the Transferor Bank. Hence, statement 2 is incorrect.

How this Merger idea came up?

Streamlining of the banks and their merger was first mooted by Narasimham committee in 1998, but the present merger is the outcome of ‘Alternative Mechanism Panel’ headed by Shri Arun Jaitley which proposed to merge a weak bank with two strong banks.

Source Name : Livemint

Explanation :

Ross Island was renamed as ‘Netaji Subhash Chandra Bose Dweep’, Neil Island as ‘Shaheed Dweep’ and Havelock Island as ‘Swaraj Dweep’. These islands are a part of Andaman & Nicobar Island system.

Source Name : TH

Explanation :

• Silica and silicates constitute the bulk of most kinds or rocks, clays and sands. Silica is an odourless and non-irritant compound and does not cause any immediate noticeable effect and hence is confused with ordinary dust.

Inhaling Silica dust for a prolonged period can lead to silicosis, bronchitis or lung cancer.

Explanation :

The Fugitive Economic Offenders Act, which came into effect on July 25, 2018, allows for declaring a person an offender after an arrest warrant is issued and the value exceeds Rs. 100 crore. Another condition is the refusal of the individual to return home to face prosecution. As per the new law, a special FEOA court can order the confiscation of an offender’s property (directly owned as well as benami property). Hence, both statements 1 and 2 are incorrect.

Major Criticism of the Act:

One of the major criticisms of the Act is that it is against the principal of ‘Natural Justice’ i.e. Fugitive Economic Offender is not allowed to defend or file any civil claim even.

Purpose of the Question:

Absconding liquor baron Vijay Mallya became the first person to be declared a fugitive economic offender under the FEOA very recently.

Explanation :

•The Kashmir Stag or Hangul is a subspecies of elk native to India and is the state animal of Jammu and Kashmir. It is found in the riverine forests in the high valleys and mountains of Kashmir Valley and Northern Chamba district of Himachal Pradesh in Dachigam National Park, Sindh Valley, Rajparian Wildlife Sanctuary, Overa-Aru Wildlife Sanctuary.

•It has been listed under Schedule-1 of Wildlife (Protection) Act 1978. It has been listed among the top 15 species which require high priority in conservation by the union government. The IUCN has declared the Hangul as Critically endangered.

Source Name : TH

Explanation :

•The FSR report is released biannually by RBI and not quarterly. The report conveys the strength and stability of the Indian banking system to the policymakers.

•As per the recently released FSR, Gross Non Performing Asset (GNPA) ratio of banks has decreased from 11.5% in March 2018 to 10.8% in September 2018 for the first time. Hence, statement 2 is incorrect.

•As per the FSR, bulk of the bad loans is concentrated in public sector banks (GNPA Ratio=14.8%) while private sector banks have GNPA Ratio of only 3.8%.

Purpose of the Question:

The Reserve Bank of India (RBI) released its eighteenth issue of the Financial Stability Report very recently. It reflects the collective assessment on risks to financial stability, as also the resilience of the financial system and also discusses issues relating to development and regulation of the financial sector.

In UPSC 2018, questions related to trend vis-à-vis important economic parameters were asked; so it becomes important to know about the agency which releases these reports and the important trends mentioned if any.

Source Name : TH

Explanation :

•The MGNREGA in February 2006 was for the first time notified on an experimental basis in 200 odd districts across the country. The Act guarantees a minimum 100 days of employment out of 365 days in a year to every willing household, within 15 days of making such a requisition.

•As per the Act, there is a provision for 33% reservation for women of SC/ST and OBC category.

•Social audits were first mandated by law under the MGNREGA.

Purpose of the Question:

MGNREGA has recently been in the news as is facing a severe fund crunch, with 99% of money allocated already exhausted three months before the end of the financial year, and 11 States and Union Territories having a negative net balance.

Source Name : TH

Explanation :

•The cinereous vulture (Aegypius monachus) is a large raptorial bird that is distributed through much of Eurasia. It is a member of the family Accipitridae, which also includes many other diurnal raptors such as kites, buzzards and harriers.

•During the winter season, the Cinereous Vultures migrate from the mountainous regions of Europe and Asia to warmer places, including India. It is also known as the Black Vulture, Monk Vulture or the Eurasian Black Vulture.

•It is classified as Near Threatened under the IUCN Red list.

Purpose of the Question:

The species was recently spotted in the state of Jharkhand for the very first time. It migrated to Hazaribagh crossing the Himalayas and Northern plains. Besides, Hazaribagh, of lately, is turning out as a favorable spot for vultures which is a cause to celebrate given the vulnerable status of the vultures in the world.

Explanation :

•The sanctuary was established in 1973 and is now an integral part of the Nilgiri Biosphere Reserve. The sanctuary comes under Project Elephant.

•The sanctuary is bounded by the protected area network of Nagarhole and Bandipur of Karnataka in the northeast and on the southeast by Mudumulai of Tamil Nadu.

•It is part of the Deccan Plateau and the vegetation can predominantly be seen is of the South Indian deciduous teak forests. The sanctuary also has pastures of the west-coast semi-evergreen trees.

•It is one of the safest havens for different species of vultures like the White-rumped vultures and the Red-headed vultures.

Purpose of the Question:

With the rise in temperature, the seasonal migration of wild animals from wildlife sanctuaries in Karnataka and Tamil Nadu to the Wayanad Wildlife Sanctuary has started. The animals migrate owing to easy availability of fodder and water.

Source Name : TH

Explanation :

• The Central Information Commission was constituted through an official gazette notification under the provision of the Right to Information Act (2005).
• The commission consists of a Chief Information Commissioner and not more than ten Information Commissioners. They are appointed by the President on the recommendation of a committee consisting of the Prime Minister as Chairperson, the Leader of opposition in the Lok Sabha and a Union Cabinet Minister nominated by the Prime Minister.
• The salary, allowances and other service conditions of the Chief Information Commissioner are similar to those of the Chief Election Commissioner.
• Under the RTI Act, it has been made clear that decision of CIC is final and binding. CIC has the power of civil court (like summoning etc.) when it deals with the matters related to code of civil procedure.

Purpose of the Question:

Very recently, Sudhir Bhargava has been made the Chief Information Commissioner. Also, 4 information commissioners have been appointed to the Central Information Commission (CIC), taking its total strength to seven.

Source Name : cic.gov.in

Explanation :

• Amendments to Fundamental Rights & Directive Principles of State Policy does not require the consent of the state. If the bill gets passed by Special Majority in parliament then after the signature of President it becomes a law.
• ‘Doctrine of Basic Structure’ is the concept that has been coined by the Supreme Court and is nowhere mentioned in the Constitution. This concept has been taken from the German Constitution by the judges of Supreme Court.

Some of the basic structures as mentioned by the apex court are- Principle of Equality, Free & Fair Elections, Judicial Review etc.

Purpose of the Question:

Recently, the President has given assent to the 103^rd Constitutional Amendment Act and it doesn’t require the ratification of states as it has made changes to Fundamental Rights (Article 15 and 16)

Source Name : IE

Explanation :

• REN21 (Renewable Energy Policy Network for the 21st Century) is a not for profit organisation set up under the German Law in 2004. It is headquartered in UNEP secretariat at Paris, France. It consists of think tanks from private, government and other academicians to suggest on the issues of Renewable Energy.
• Renewables Global Status Report is released by REN 21 and India is ranked 5th in the Renewable Power Capacity (including hydropower) and 4th (not including hydropower) as of end 2017.

Source Name : PIB

Explanation :

• The ‘Adopt a Heritage: Apni Dharohar, Apni Pehchaan’ project is a collaborative effort between the Ministry of Tourism, Ministry of Culture and the Archaeological Survey of India (ASI), and State/UTs Governments.
• It aims to involve public sector companies, private sector companies and corporate citizens/ individuals to take up the responsibility for making our heritage and tourism more sustainable through development, operation and maintenance of world-class tourist infrastructure.

Source Name : PIB

Explanation :

• NeVA, an initiative by Ministry of Parliamentary Affairs aims to make all the Legislatures of the country paperless by making the proceedings of the houses digital. Hence, statement 1 and 2 is incorrect.
• It is an attempt to provide the information about the functioning of the House to the common citizen at the click of a button. The NeVA aims to live up to its potential of being ‘One Nation, One Application’.

Source Name : PIB

Explanation :

The most recent committee to be formed is the Bimal Jalan Committee constituted by the RBI in December 2018 to look into the issues of the surplus which can be transferred to Central Government along with the other issues related to RBI.

Explanation :

In the few tribal districts like Latehar of Jharkhand people are erecting stones with message written on it emphasizing on the PESA (Panchayati Extention to Scheduled Act) Norms and highlighting the significance of Gram Sabha before state/ private industries take upon the resources of these areas.

What is Pathalgadi?

Pathal locally means stones and the message like “No Entry to Government Officials” are inscribed upon these stones. It reflects the dissidence of the Tribal People from the Government.

Explanation :

Any provision which alters the federal structure needs the consent of State as was evident in the case GST roll out.

Some of the provisions which needs special majority and ratification by State are:-

1. Amendment to Article 368 itself

2. Election of President

3. Supreme Court and High court

4. Extent of Executive Power of Union and State.

5. Representation of State in Parliament

6. Distribution of legislative power between Union and State.

Purpose of the News:

Source Name : IE