Current Affairs 13th June 2018

Current Affairs 13th June 2018 - Important Points 

• India to host first BIMSTEC military exercise in - September 2018
• NITI Aayog announced 3000 additional Atal Tinkering Labs on - 12th June 2018
• RBI releases draft guidelines to modify loan system for large borrowers on- 11th June 2018
• Government sets up Technical Committee headed by T.C.A. Anant to bring - Transparency in jobs data
• Haryana raises age limit for entry in government service to 42 years on - 12th June 2018

Current Affairs 13th June 2018 - Details

India to host first BIMSTEC military exercise in - September 2018

India will organise 1st military exercise of the Bay of Bengal Initiative for Multi-Sectoral Technical and
Economic Cooperation nations in September 2018 in Pune, Maharashtra. The subject of the workout
comprises counter-terrorism in semi-urban territory and barricade and search.

Main Objectives
Technological and economic collaboration among South-Asian and South-East Asian nations sideways the coast of the Bay of Bengal. Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation is sector determined supportive society, including trade, technology, energy, transport, tourism and fisheries. In 2008, it was prolonged to hold 8 extra sectors including agriculture, public health, poverty alleviation, combat terrorism, environment, culture, people-to-people contact and climate alteration.
Key Points

• The main objective of this military workout is to encourage strategic alignment among the membered states and to share best performs in countering terrorism.
• Each contributing member nation will bring in few 30 soldiers. As part of this exercise, a congress of Army chiefs of all 7-associate member is being planned.
• In it, the heads will discuss terrorism challenge and international crime, which is major concern among all states. Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation nations had organised disaster management activity in 2017 in New Delhi, but this will be 1st military workout of the grouping.
  More about BIMSTEC
• Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation is the provincial group of 7 nations in South-Asia and South-East Asia twofaced in littoral and adjacent areas of Bay of Bengal constituting adjoining regional harmony.
• It was recognized on 6th June 1997 via Bangkok Declaration. It is HQ in Dhaka, Bangladesh.
  Member countries
  India, Nepal, Bangladesh, Bhutan, Sri Lanka from South-Asia and Myanmar, Thailand from South-East Asia. They are jointly home to about 1.5 billion individuals which found about 22 percent of worldwide population.

NITI Aayog announced 3000 additional Atal Tinkering Labs on - 12th June 2018

NITI Aayog announced creation of 3000 additional Atal Tinkering Labs under the Atal Innovation Mission (AIM) on June 12th, 2018. For the same purpose, NITI Aayog has so far selected 3000 extra schools to establishof Atal Tinkering Labs (ATLs), and to bring the total number of ATL schools to 5441.
Atal Tinkering Labs aims to be innovative play workspaces for students between Grade VI to Grade XII, which stimulate innovations combining science & technology.
Important Highlights

• Also the grant of 20 lakh will be given to these selected schools in next 5 years in order to establish Atal Tinkering Labs to nurture innovation and entrepreneurial spirit  among secondary school children.
• With the development of these more than 5000 ATLSs, almost every district of India will be having atleast one lab to enable an innovation ecosystem, which will be facilitating transformational change in technological innovation and pedagogy.
• These additional 3000 schools are expected to expand the reach of the ATL program, increasing the number of children exposed to innovation and technologies like 3D Printing, Robotics, IoT and microprocessors.
• These schools will be facilitating the creation of over 1 million Neoteric Child Innovators by 2020.
  ATLs will be functioning as innovation hubs for these student innovators to explore solutions towards unique local problems which they come across in their day to day lives.
• With these new schools, the Atal Innovation Mission envisions strong growth in the collaborative ecosystem, where students, teachers, mentors and industry partners will be working to facilitate innovation.

RBI releases draft guidelines to modify loan system for large borrowers on- 11th June 2018

The RBI on June 11th , 2018 published the draft strategies to alter the loan system for release of bank credit, making the rules harder to regulate larger borrowers appreciating working capital provision from the banking system.
Minimum level of ‘loan component’
Borrowers having collected fund based working capital perimeter of Rupees 150 crores from the banking system, require to withdraw least 40% of the limit as loan part and the balance as cash credit, starting from  October 1st, 2018.
Sharing of Working Capital Finance

• The base rules for sharing of cash-credit and loan components will be arranged by the consortium,
  subjected to strategies on bifurcation. Under Multiple Banking Arrangements, each bank will have a
  responsibility to make sure obedience to these rules at individual bank level.
• The amount of the Working Capital Demand Loan will be immovable by banks in discussion with the
  borrowers, and the tenure of these loan shall not be less than 7 days.
• Repayment of loan component Banks will have the option to demand repayment of the ‘loan component’ in the form of either instalments or by ‘bullet’ repayment.

Government sets up Technical Committee headed by T.C.A. Anant to bring - Transparency in jobs data

The Labour ministry informed that, the Union Government has formed a Technical Committee led by former chief statistician of India, T.C.A. Anant, to convey transparency in the jobs information intention and presentation.

Panel formed to bring transparency in jobs data

• Labour bureau carries out 2 major investigations on employment situation. First was Annual Employment-Unemployment Survey and second was Quarterly Employment Survey.
• The AEUS was swapped by Periodic Labour Force Survey and this survey is done by
  ministry of statistics and program implementation.
• Therefore, this will be analogous with the conforming AEUS information set. Also, the
  EPFO has initiated publishing monthly payroll information.
• The Government has formed a Technical Committee to investigate into the above matters. T.C.A Anant is the Chairman of the committee. The committee has been told to present its report as earliest.

Haryana raises age limit for entry in government service to 42 years on - 12th June 2018

The Government of Haryana raised the maximum age limit for entry into government service from 40 years to 42 years, on 12th June 2018. Haryana raises age limit for entry in government service to 42 years. All departments of Haryana government have been informed to integrate the provisions
concerned for raising the maximum age limit to join the government service in their service rules.
The departments need not to get the sanction of council of ministers, general management, Finance Department and Haryana Public Service Commission, as per to a conclusion granted by the council of ministers on May 30th, 2018.
Thus, a circular has been passed to all administrative secretaries, HODs, commissioners of all divisions, all chief superintendents and deputy commissioners, sub-divisional officers (Civil) and all university registrars.