CURRENT AFFAIRS - 23 JULY 2015

1. Puducherry city first to get Smart city nomination

i. Puducherry city has emerged as the first nomination to be received by the Urban Development Ministry for a Smart City Mission. In this regard, Government of Union Territory of Puducherry has nominated its capital city for inclusion in the Union Government’s flagship 100 Smart Cities Mission.

ii. It also has forwarded the nomination along with all the forms and documents as required in the Stage-1 of ‘City Challenge’ competition.

iii. The nomination was forwarded based on the recommendations of the High Powered Steering Committee (HPSC) constituted as per the guidelines of mission. It was headed by Chief Secretary of UT and had overseen the process of first stage intra-state competition.

Since 2011, Puducherry Municipal Corporation (PM) has achieved 18 per cent improvement in provision of household sanitary latrines. Internal revenue generation has continuously increased by 14 per cent over the past three year period of 2012-13 to 2014-15.

2. 14 States, UTs achieve literacy rate of 80%: Government

i. Union Government has announced that 14 States and Union Territories (UTs) have achieved or exceeded the literacy rate of 80 percent. It was announced by Union Human Resource Development Minister Smriti Irani in a written reply to the Lok Sabha.

ii. 14 States and UTs are:  Kerala, Lakshadweep, Mizoram, Goa, Tripura, Daman and Diu, Andaman and Nicobar Islands, NCR of Delhi, Chandigarh, Puducherry, Himachal Pradesh, Maharashtra, Sikkim and Tamil Nadu.

iii. Union Government’s flagship scheme of Sarva Shiksha Abhiyan has helped to improve literacy rate. For implementing the scheme, Centre has helped the States and UTs. The literacy of adults has been covered under the Saakshar Bharat Programme.

iv. It was also announced that 10 States and UTs have also been able to reduce gender gap to 10 per cent or less. These states are Punjab, Chandigarh, Nagaland, Mizoram, Tripura, Meghalaya, Goa, Lakshadweep, Kerala and Andaman and Nicobar Islands.

3. National Broadcasting Day observed across the country

i. National Broadcasting Day was observed on 23 July 2015 across the country. It is on this day in 1927, the Indian Broadcasting Company started radio broadcasting from Bombay station.

ii. To mark the day, All India Radio (AIR) organized a symposium on the subject Creation of New India and Broadcasting Medium in New Delhi.

iii. Colonel Rajyavardhan Singh Rathore, the Minister of State for Information and Broadcasting, speaking at the symposium, highlighted the role of Prasar Bharati in taking news of public interest to the length and breadth of the country and said that government is committed to the autonomy of Prasar Bharati.

iv. Broadcasting in India began in July 1923 with programmes by the Radio Club of Mumbai. According to an agreement of 23 July 1927, the private Indian Broadcasting Company LTD (IBC) was authorized to operate two radio stations; the Mumbai station began on 23 July 1927, and the Calcutta station followed on 26 August 1927.

4. Conakry named as World Book Capital for 2017 by UNESCO

i. Conakry, the capital of the Republic of Guinea, was on 21 July 2015 named as the World Book Capital for 2017 by United Nations Organization for Education, Science and Culture (UNESCO). The decision was made by an international committee of experts on 30 June 2015 during a meeting.

ii. The selection committee singled out Conakry for the quality and diversity of its programme, in particular for its focus on community involvement as well as for its well-structured budget and clear development goals with a strong emphasis on youth and literacy.

iii. The World Book Capital is selected every year by the international organizations that represent the three major sectors of the book industry:

• The International Publishers Association (IPA)
• The International Booksellers Federation (IBF)
• The International Federation of Library Associations and Institutions (IFLA)
• The year for awarding World Book Capital starts on 23 April, which is celebrated as World Book and Copyright Day.

5. CCEA extends CCTNS deadline to March 2017

i. Cabinet Committee on Economic Affairs (CCEA) has extended the deadline for implementation of Crime and Criminals Tracking network and Systems (CCTNS) project till March 2017.

ii. Decision in this regard was taken by CCEA meeting chaired by Prime Minister Narendra on the proposal forwarded by Union Ministry of Home Affairs. CCEA also approved additional five years phase for operation and maintenance of the CCTNS up to March 2022.

iii. It is an ambitious online system and central citizen portal that will link all state-level citizen websites under single platform which will provide a number of citizen friendly services. The services will include reporting a crime, police verification for passports, linkages with UIDAI, transport database and National Population Register.

iv. By computerising the functioning of police stations, prosecution directorates, prisons and forensic laboratories. It will also ensure smooth data exchange among these various systems along with e-court systems which are already functioning throughout the country.

6. World University Games no-show: AIU hands three-year ban to archers and coach, wants money back

i. Cracking the whip on the three archers who missed the bronze medal play-off during the recently-concluded World University Games, the Association of Indian Universities has banned them and their coach for three years, besides asking them to return the money spent on them.

ii. The compound team trio did not turn up at the bronze medal play-off against Italy in the July 3-14 World University Games at Gwangju in South Korea, thereby forfeiting the match.

iii. The inquiry report was examined, it was found/observed that athletes and official of the Indian contingent failed to turn up for participation in the prestigious event.

iv. the AIU did not furnish the reason why the athletes could not reach the archery competition venue on time. The AIU had also asked for a report from R K Sharma who had accompanied the Indian contingent to Korea.

7. Finger lickin' train food: KFC partners with IRCTC to start delivery system for passengers

i. The fast food chain has tied up with the IRCTC to start a delivery system for passengers. From 20 July onwards, a person travelling on train can order KFC meal, while booking ticket through IRCTC, under e-catering service initiatives, KFC said in a statement.

ii. this facility is available only on 12 trains passing through New Delhi railway station. However, it will be expanded to Vishakhapatnam, Hyderabad (Kacheguda) and Bangalore (Yeshwantpur) stations over the next 10 days, the statement added.

iii. Consumers will have to visit the IRCTC website or call on 18001034139 (Toll Free) to place their order. A password will then be sent by KFC to the consumer’s mobile phone which will have to be mentioned at the time of delivery.

iv. IRCTC is looking to expand its culinary network by attempting to get joints such as Cafe Coffee Day, Barista and even Subway in the fold. IRCTC in its effort to offer better fare at stations is talking to Cafe Coffee Day, Pizza Hut, Barista Coffee, Subway and Jumboking Vadapav, urging them to open eateries at stations.

8. Archie Comics cartoonist Tom Moore dies at 86

i. Tom Moore, the cartoonist who brought to life the escapades of Riverdale residents in Archie comics has passed away. He was 86.

ii. Moore, who began drawing cartoons while in the US Navy during the Korean War, died early Monday morning while in ospice care in his hometown of El Paso, his son Lito Bujanda-Moore told The Associated Press yesterday.

iii. Moore drew Archie Andrews and his friends on and off from 1953 until he retired in the late 1980s. Annual sales of the comic regularly surpassed half a million during the 1960s, according to the El Paso Times.

iv. After retiring, Moore kept tabs on Archie, and disagreed when the comic book company decided to kill off the character. The El Paso Museum of Art displayed some of Moore's work and his vast comic collection about 20 years ago.

9. R.D. Burman: The Prince of Music written by Khagesh Dev Burman

i. Book titled R.D. Burman: The Prince of Music authored by Khagesh Dev Burman was released on 27 June 2015, the day when the music world celebrated the 76th birth anniversary of Rahul Dev Burman.

ii. The author through the book has tried to look into almost every aspect of R.D Burman like his childhood in Kolkata, his failure in studies, his beginning as an assistant to his father SD Burman as well as his rise as a musician. It also looks into his downfall due to ill-health and some bad decisions.

iii. The book also reveals the fact about number of songs and tunes of Burman, which remained unused. It says that there are songs which remained unreleased or shelved films, like two songs in unreleased film Raj and two songs of the unreleased Abhi Abhi remained shelved.

PM Modi’s Tour of Russia and Central Asia: An Overview

Ever since Prime Minister Narendra Modi took charge at the helm of the Indian government, he has undertaken a number of strategic tours. Be it his US sojourn, or the tour of Canada, France, and Germany, or his trip to China, the Indian PM has become known for his high-profile visits – each with the mission to build economic and strategic ties across the world. PM Modi’s visits are highly publicised by the PMO and have become moot points for NRIs (non-resident Indians) who have shown him an overwhelming support.In keeping with this “man of missions” image, PM Narendra Modi has now embarked on a visit to five Central Asian countries – Uzbekistan, Kazakhstan, Turkmenistan, Kyrgyzstan and Tajikistan – apart from attending two multilateral summits in Russia. The eight day tour, between 6 and 13 July is intended to boost economic ties in Asia and also focus on strategic defence alliances.

What Brings Modi to Central Asia?

PM Modi visited Uzbekistan and Kazakhstan on 6 and 7 July respectively. Oil, natural gas, and energy are at the center of the trade ties between India and these Central Asian countries which are rich in natural resources and share a cultural legacy with India. Modi had promised to bring solidarity to Indian ties with these nations – a promise that he fully intends to keep.In his visit, the Indian PM underlined India’s historic ties with Uzbekistan – that land of Babur’s birth and its importance in the Silk Route. With Uzbekistan President Islam Karimov, Modi discussed various investment opportunities for India such as in the fields of tourism, and culture. Cyber security is one key field where the two countries have decided to build a strong partnership and work together. Another key point of discussion was the implementation of uranium supply from Uzbekistan. 2000 metric tonnes of the mineral is to be imported by India.A similar Uranium pact was also signed with Kazakhstan; India will now import 5000 tonnes of the yellow mineral in the next four years. Kazakhstan and India also inked a number of MoUs related to trade and culture. India will most likely make a renewed effort at securing some of Turkmenistan’s natural gas reserves – previous attempts having been waylaid by China.Cultural ties formed one of the highlights of PM Modi’s agenda. Student exchange, linguistic developments, and religious tolerance were all discussed by the PM with the heads of these states. Yoga was discussed too.

The central Asian countries that PM Modi shall be covering in this tour are all extremely important in terms of the natural resources they hold and in their potential to form strategic alliances. These nations have been key suppliers of oil and natural gas for China and are now looking for a diverse market. PM Modi’s visit could not have been better timed. The PM also shall be soliciting the support of these countries in an effort to secure a permanent membership in the United Nations Security Council.

International North-South Transport Corridor

The International North–South Transport Corridor is a trade route (using various modes such as ship, road, and rail) between India, Iran, Russia, and other Central Asian, and European nations. Uzbekistan, Kazakhstan, and Turkmenistan are other routes, currently under consideration for addition to the existing corridor. PM Modi made a significant pitch to the heads of these countries to join the freight corridor. The trade implications of these are huge. Transportation of cargo shall be smooth and costs greatly reduced with the opening up of this corridor.The Indian Prime Minister also sought support from the Central Asian countries for India joining the Ashgabat Agreement – another strategic cooperation for movement of freight and a transit route between Uzbekistan, Iran, Turkmenistan, Oman, and Kazakhstan.

Modi’s Security and Anti-terrorism Agenda

One of the major issues that shall be addressed in PM Modi’s visit to the Central Asian countries is defence and counter-terrorism. He delved straight into the issue in his Uzbekistan visit and the two nations agreed to set up a joint working group to counter terrorism and boost security in the region. With Kazakhstan, India has signed an agreement on defence and security cooperation, military exchange, joint exercises, and formation of a joint anti-terrorism unit.In his visit to both Tajikistan and Turkmenistan also, we may expect significant military partnerships to be forged. Tajikistan is already a significant military ally since 2002 when it built an air base near the town of Farkhor. This base is a counter point to any possible malevolent advances by Pakistan. Strengthening these ties and formulating a unified front to the terrorist factions in Afghanistan has now become of supreme importance to maintain peace in the “extended neighbourhood”.

BRICS Summit

An important leg of PM Modi’s tour was his trip to the Russian city of Ufa to attend the Seventh BRICS Summit. Apart from the Indian PM, the summit was attended by President Dilma Rousseff of Brazil, President Vladimir Putin of Russia, President Xi Jinping of China, and President Jacob Zuma. Apart from a number of regional and global issues, the BRICS nations focused on the New Development Bank that was formed by the nations. The NDB has its headquarters in Shanghai and is likely to have an Indian head banker. The bank was formed to cater to the specific economic needs of the member nations and provide finance for infrastructure development in these countries.

Shanghai Cooperation Organisation Summit

After over a decade of successful collaboration, the six-member Shanghai Cooperation Organisation (SCO) based in Beijing agreed to include India as a full member. The other members of the SCO are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. India has currently been an observer in the group and PM’s attendance of the summit brought about the inclusion. PM Modi then addressed the group which included Russian President Vladimir Putin and Chinese President Xi Jinping.In his address, the PM promised that India shall take keen interest in developing infrastructure in the region and forge economic ties with the member nations.

Meeting Nawaz Sharif

After almost a year, Prime Minister Narendra Modi met Pakistan’s Prime Minister Nawaz Sharif in Ufa city. The meeting in itself was a strategic one and has been lauded by many in the country. Apart from agreeing on a significant cooperation to counter terrorism that has been the bane of both nations, Pakistan has also agreed to speed up the trial of the 26/11 terror attack accused. The 26/11 Mumbai attacks, one of the worst terror strikes in the country after independence, left over 166 people dead in Mumbai.The meeting comes against the backdrop of Pakistani defence minister Khawaja Asif threatening to use nuclear weapons against India. Economic ties and trade negotiations found dominance in the talks between the two nations. PM Modi has also accepted Pakistan’s invitation to attend the SAARC Summit in 2016 to be held in Islamabad.

CURRENT AFFAIRS - 22 JULY 2015

1. Union Government launched Surakshit Khadya Abhiyan

i. Union Minister of Consumer Affairs, Food and Public Distribution Ram Vilas Paswan on 21 July 2015 launched the Surakshit Khadya Abhiyan, a countrywide campaign, to create mass awareness and capacity building for safe and hygienic food.

ii. The initiative complements the widely popular multi-media campaign Jago Grahak Jago which empowers the consumers of its rights and demands. This campaign, planned by CII and Consumer Organization VOICE, and National Association of Street Vendors of India (NASVI), is an effort towards building a culture of food safety in the country.

iii. Under the campaign, nationwide sensitisation sessions on cleaning, hygiene & sanitation for safe food, Walkathons and Media dissemination programmes for Consumers, Street Food Industries will be organized across the country.

iv. The ministry also launched a website and a logo of the campaign and also signed a pledge for adopting safe food practices.

3. NRIs can invest in NPS: PFRDA

i. Non-resident Indians (NRIs) can invest in National Pension System (NPS) to get a social security cover.

ii. While RBI has communicated to PFRDA about NRIs being eligible to make such investments, the government will shortly come out with a clarification on Foreign Exchange Management Act (FEMA) guidelines to facilitate non-resident Indians to invest in National Pension System (NPS).

iii. Highlighting the importance of NPS scheme for Non-Resident Indians (NRIs), he said such residents especially living in the Middle-East are not having any mandatory social security benefit.

iv. The Pension Fund Regulatory and Development Authority (PFRDA) is in talks with lenders such as SBI, HDFC Bank, Canara Bank, Indian Bank and several other south India-based banks to tap potential of NRIs.

4. United Nations Security Council adopts resolution endorsing Iran nuclear deal

i. The United Nations Security Council (UNSC) unanimously adopted a resolution for endorsing the historic deal on Iran’s nuclear program. It was supported by all 15 representatives of countries on the Security Council and opened path to lift nuclear-related economic sanctions on Iran.

ii. It also paved the way for establishing a monitoring system for Iran’s nuclear programme. UNSC’s passed resolution marks the endorsement of the Joint Comprehensive Plan of Action (JCPOA) which had find out the final historic diplomatic solution for Iranian nuclear issue in Vienna, Austria on 14 July 2015.

iii. There was a decade long deadlock between Iran and Western countries over the issue of Iran’s Nuclear Programme and safety concerns of uranium enrichment. Western Countries especially US, had alleged that Iran’s Nuclear Programme may be used by them to produce enriched uranium to develop nuclear warheads.

5. Naomi Klein wins 2015 American Book Award

i. Noted Canadian author Naomi Klein has won the 36th edition of American Book Award 2015. She has won this award for her environmental work This Changes Everything: Capitalism vs. the Climate published in 2014.

ii. Apart from her, 14 others also have won the award. Some of them are Marlon James (A Brief History of Seven Killings), Carlos Santana (The Universal Tone) etc. Poet Anne Waldman was honoured with lifetime achievement award in this edition of prize.

iii. American Book Award honours persons for their excellence in American literature without restriction to sex, race, ethnic background or genre. The awards do not have any individual categories and since 2000, Lifetime Achievement award is also given.

6. Pipavav Defence inks pact with Russian firm Zvyozdochka to refit submarines

i. Anil Ambani-led Reliance Group’s Pipavav Defence and Offshore Engineering (PDOE) inked a multi-crore agreement with Russian firm Zvyozdochka, JSC Ship Repairing Centre.

ii. The agreement was signed in lines with Make in India initiative for the Medium Refits and Life Certification of 877 EKM Submarines in India. With this, Reliance Group became the first private sector Indian company to refit of submarines in India.

iii. Both entities will execute the programme under a joint venture (JV) company with an indicative value of 11,000 crore rupees in which PDOR will have 51 per cent stake.

iv. As per the agreement, Zvyozdochka will provide complete technical support and assistance to the JV Company. It will also provide the enhancement of infrastructure at the PDOC facilities in Gujarat and training of engineers.

7. Ananth Narayanan appointed as Chief Executive Officer of Myntra

i. Former McKinsey director Ananth Narayanan on 21 July 2015 was appointed as the Chief Executive Officer (CEO) of the Flipkart-owned fashion store Myntra. He will assume the charge on 1 October 2015.

ii. He will succeed Myntra’s co-founder Mukesh Bansal who is presently serving as the head of Flipkart's commerce platform.

iii. Prior to this appointment, he was leading McKinsey’s product development in Asia and its Automotive Practice in India. He has worked with McKinsey for 15 years across four offices, namely Chicago, Shanghai, Taipei and Chennai.

iv. The acquisition of Myntra by Flipkart for more than 300 million US dollars in May 2015, the company in June 2015 also roped in Google Chromecast head Ambarish Kenghe as Senior Vice President and Head of Product.

8. India and Singapore signed agreement to enhance maritime cooperation

i. India and Singapore on 21 July 2015 signed Technical Agreement (TA) on sharing white-shipping information to enhance maritime cooperation between the two navies. The agreement was signed during the visit of Navy chief Admiral R K Dhowan to Singapore.

ii. The White-shipping refers to commercial shipping information about movement of cargo ships.

iii. The Singapore Navy and the Indian Navy conduct the Singapore-India Maritime Bilateral Exercise (SIMBEX) together annually. In 2015, the SIMBEX was held in May, this was the 22nd in the series.

iv. Both navies also interact regularly through high-level visits, dialogues, joint military training, courses and other professional exchanges.

CURRENT AFFAIRS - 21 JULY 2015

1. BRICS bank launched in China as alternative to World Bank, IMF

i. A new USD 100 billion bank floated by BRICS nations, including India, as an alternative to the World Bank and IMF to boost infrastructure funding in the emerging economies and offer them tailor-made services was launched here today.

ii. The opening ceremony of the New Development Bank (NDB) was held here in China’s financial capital. Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and the bank’s President K V Kamath attended the opening ceremony.

iii. Kamath, 67, who will be the bank’s President for the first five years, said he was confident to deliver people’s expectation of the new bank.

iv. BRICS economies  Brazil, Russia, India, China and South Africa launched the multi-billion dollar development bank at the 7th BRICS summit held in the Russian city of UFA on July 8 amid efforts to finance infrastructure projects, mainly in member countries.

2. Union Government launches National Career Counselling portal

i. Union Government has launched National Career Counselling Portal in a bid to modernize all government-run employment exchanges.

ii. It was launched by Prime Minister Narendra Modi under the aegis of National Career Service (NCS) project of Union Ministry of Skill Development and Entrepreneurship.

iii. The web portal will be a one-stop platform for both job providers and job seekers where registration can be done online. It will provide basic platform for searching and applying for jobs on the portal.

iv. It will also provide candidates career-related counseling either by its helpline numbers or visiting these centres along with other facilities like job posting, aptitude assessment, job matching, training providers, skill courses and guidance on self-employment and entrepreneurship.

3. Bhanu Pratap Sharma appointed as Chairperson of FSSAI

i. Union Government has appointed Bhanu Pratap Sharma as Chairperson Food Safety and Standards Authority of India (FSSAI).

ii. Presently, he is Health and Family Welfare Secretary was given additional charge of FSSAI for three months. Sharma is an IAS officer of 1981 batch from Bihar cadre.

iii. FSSAI is a nodal statutory agency responsible for protecting and promoting public health in India through the regulation and supervision of food safety. FSSAI was established under the Food Safety and Standards Act, 2006 and operates under aegis of Union Ministry of Health & Family Welfare.

iv. FSSAI has been established to lay down science based standards for various food products in order ensure availability of safe and wholesome food for human consumption. It also regulates the manufacture, storage, distribution, sale and import of food products for human consumption.

4. Indian Railways and Odisha Government signed MoU for Dasappla-Bolangir Railway Line

i. The Union Railways Ministry and the Odisha Government on 20 July 2015 signed Memorandum of Understanding (MOU) for implementation of Dasapalla-Bolangir segment of Khurda Road-Bolangir New Broad Gauge Railway Line on cost sharing basis.

ii. The agreement was signed by Ved Parkash Dudeja, Executive Director (Works) Ministry of Railways and Sanjay Rastogi, Commissioner-cum-Secretary, Commerce & Transport Department, Odisha Government.

iii. The project will be completed in three years of time after handing over of the land by the state. This Railway line running across the state from east to west will usher the six districts- Khurda, Puri, Nayagarh, Boudh, Subarnapur and Bolangir into a new era of development.

iv. The signing of MoU by Odisha Government will help in accelerating the development in the districts falling on Khurda-Bolangir line and will help create job opportunities in this naxal-affected state.

5. VICE PRESIDENT RELEASES THE BOOK 'LOCALE, EVERYDAY ISLAM AND MODERNITY'

i. The Vice President of India Shri M. Hamid Ansari released a book entitled Locale, Everyday Islam and Modernity authored by Shri M. Raisur Rahman at a function here today.

ii. Dissolving the distinctions between centre and periphery, this book presents the Qasbahs of colonial India as vital and vibrant centres of intense intellectual and cultural activity.

iii. The book demonstrates that the emergence of modernity among Muslims was a process during their colonial encounter in which Qasbah residents were active agents, and the Islam that emerged was that of everyday living.

6. Now an exclusive mobile app for Vat, GST and Service Tax

i. The rapidly changing indirect taxation system in India has made it essential for every businessman or professional to be conversant in the basics of the indirect taxation. In the current high tech era, everyone is a tech savvy so it is more convenient to use a smart phone and browse the information rather than searching the information from the pile of books.

ii. Keeping in mind the above, CA Atul Kumar Gupta along with his team has made an endeavor to acquaint the common man apart from the professionals, regarding the dynamic indirect taxation system, through mobile application TAXO.

iii. The idea behind TAXO is to update and educate not just the taxation professionals but every one on ongoing basis by providing prompt and live access to the changing business environment in India.

iv. TAXO is a platform where the general public can get an insight into the basic fundamentals of Indirect Taxation.

7. At 50, model-actor Milind Soman wins Ironman title in ‘‘toughest’ triathlon in Zurich

i. Model-actor Milind Soman, who turns 50 in November this year, has won the Ironman title at a triathlon held in Zurich in Switzerland on July 19 in which over 2,000 participants this year included seven Indians.

ii. The triathlon, organised by World Triathalon Corporation, includes a 3.8-km swim, 180.2-km cycle ride and 42.2-km run and is widely regarded as the world’s toughest race, which has to be completed in 16 hours by participants for an Ironman title.

iii. Of the seven Indians who participated in the race this year, five completed the race. Successfully leading the contingent was 11-time winner of Ironman title, Pune’s Dr Kaustubh Radkar, who completed the race in 12 hours and 32 minutes. This is Dr Radkar’s 12th Ironman title which now qualifies him for the Hawaii Ironman World Championship to be held in 2017.

iv. The event saw seven-time reigning champion Ronnie Schildknect taking his eighth title and declared the overall winner.

7th BRICS Summit

The 7th BRICS summit held on 8-9 July 2015 summit of the head of states or government of the BRICS member states. It was held in the Russian city of Ufa in Bashkortostan.

The BRICS summit in Ufa, the capital of the Russian republic of Bashkortostan, brought together the heads of government of Brazil, Russia, India, China and South Africa (BRICS) in what's already one of the world's most unusually interesting international groupings. Jokingly dismissed by some as the only world body invented by a merchant bank (BRICS was born in an emerging market analysis by Goldman Sachs' chief economist Jim O'Neill more than a decade ago), the five countries are taken increasingly seriously as a significant force in global affairs.

For one thing, they're too big to be ignored. It's not just BRICS' populations, which collectively account for nearly half of the human race. It's also their economies, which now add up in output to about the same as that of the U.S. and are well on course to overtake the entire G-7 before 2050. With that kind of clout, the BRICS countries have started to discuss new endeavors and common positions on international issues. BRICS is slowly emerging as an alternative forum to the dominant worldview of the established economies.

The key player, of course, is China, whose economic output is almost twice as large as the other four members put together, and whose role will be determinant in BRICS' global effectiveness. After decades of an almost isolationist approach to world politics, China has begun stretching its sinews on the world stage. Its economic interests span the globe, and Beijing seems to see merit in complementing these with an expanding array of partnerships with other countries. Some of these are unilaterally led, like its revival of the ancient land and maritime Silk Routes as a platform for Chinese trade and investment. But Beijing is also showing increasing interest in multilateral engagements with like-minded nations, partially to compensate for not having the role it believes it deserves in existing institutions like the World Bank and the IMF. This is where BRICS comes in.

Or does it? The summit suggested a certain level of ambivalence on China's part. Whereas the other BRICS countries saw the summit as the highlight of their presence in Ufa, China seemed to treat it as something of a sideshow to the annual meeting of the Shanghai Cooperation Organization, of which it is the principal animating spirit.

It's already apparent that the five do not see all international issues in the same perspective. China and Russia are suspicious of liberal ideas, wary of information technology and decidedly unsympathetic to democratic dissent; India, Brazil and South Africa are lively democracies. It is unlikely, for example, that the five would see eye to eye on issues of Internet governance. China and Russia wish to legitimize greater government control over the Internet; India is an energetic advocate of "multi-stakeholderism."

On issues of development, Russia is the odd man out; China has largely eliminated mass poverty, while the other three still struggle with existential questions of survival for a significant proportion of their populations. Can they truly adopt a common view on global macro-economics, development aid and international resource transfers?

BRICS has established a New Development Bank, headquartered in Shanghai and headed by one of India's most eminent private-sector bankers. But China's major priority remains the 57-member Asian Infrastructure and Investment Bank, of which India and Russia are the second and third largest stakeholders respectively (and to which Brazil and South Africa also belong). Since China will be the principal contributor to both institutions, is there any doubt as to which it will do more to bankroll?

Trade divides the group; a recent research report by the think tank Global Trade Alert points to the negative impact of the trade policies of individual BRICS members on each other. Commercial ties between them are still characterized by a lack of harmony and discriminatory trade distortions.

Global geopolitics, too, divides the BRICS countries. India hoped the summit would endorse its concerns about terrorism but China, mindful of its close links with Pakistan, the source of the terrorism that has targeted India, refused to play along. The summit declaration made no reference to U.N. Security Council resolution 1267, which India had hoped to use to bring pressure on its neighbor.

On the other hand, Russia persuaded the others to sign up to language "condemn[ing] unilateral military interventions and economic sanctions in violation of international law and universally recognized norms of international relations," an oblique endorsement of Moscow's position on international sanctions over Ukraine.

These issues suggest that BRICS is still finding its collective feet and that some differences of nuance and even of perspective are still inevitable. Beijing realizes that China's weight is what gives ballast to BRICS, and the five are unlikely to be able to take a joint position on any issue unless China wants it -- or at a minimum, is willing to go along.

This will pose interesting challenges to the five on a range of global issues. To take a relatively minor example: As a state that has been aggressive in hacking into foreign websites, China has a position on cybersecurity that opposes that of Brazil, which protested bitterly at American snooping on its government and cancelled a presidential visit to Washington in protest. India, which could make a major contribution to the stewardship of the global commons with its expertise on issues ranging from cyberspace to outer space and which has its own suspicions of China, could well find itself out of step with BRICS' largest member.

For now, the summit suggests the grouping has only begun moving in little steps. Aside from a Economic Cooperation Strategy proposed by Russia, the only concrete action plan came from India, which offered a "ten steps" program that is underwhelming in its lack of ambition -- a trade fair, a railway research center, audit cooperation, an agricultural research center, a sports council, a soccer tournament, a film festival and so on: hardly earth-shaking initiatives. These could either contribute to an environment of collective camaraderie on which bigger things could be built, or dribble into insignificance.

For now, BRICS remains an institution with great potential surrounded by considerable uncertainty. Its future impact on the world will in large part, however, be determined by those who weren't at the Bashkortostan capital -- the Western countries who dominate the existing post-1945 international system. To the extent that they raise the ramparts and resist the claims of the BRICS members to places of honor on the world stage, the greater will be the incentive for the BRICS countries to consolidate their own alternative system and view of the world.

It doesn't have to be that way. BRICS should ideally find their place within the framework of global structures that ensure all countries a fair deal in keeping with their size, capabilities and contributions to the international system.

Bricks can be used to build an equitable world order, or be thrown to shatter the glass towers of the existing system. The same can be said of BRICS.

7th BRICS Summit VII саммит БРИКС
Host country	Russia
Date	8–9 July 2015
Cities	Ufa, Bashkortostan
Participants	BRICS
Follows	6th BRICS summit
Precedes	8th BRICS summit
Website	en.brics2015.ru

SBI PLANS TO HIRE 5,000 ASSISTANT THIS YEAR

State Bank of India is seeking the government's permission to dole out up to 3 per cent of its annual profits to staff in incentives in an attempt to draw top talent that normally make a beeline for private sector behemoths such as ICICI Bank and HDFC Bank. 

The state-run giant also plans to give stock options to employees above the rank of assistant/deputy general manager, hoping that it will help retain talent and improve performance, two people familiar with the matter said.

If the proposals are approved by the Centre, it could lead to more than 2 lakh SBI employees sharing about Rs 390 crore of its profits and set the stage for other staterun lenders to follow suit, which will end decades-old collective bargaining by trade unions. The details of how the incentive schemes would work are yet to be finalised. The profit number is based on 2014-15 earnings. 

"We are taking all regulatory approvals to incorporate a new performance-based incentive structure," said Ashwini Mehra, deputy managing director and corporate development officer at SBI, without elaborating on the proposals. 

The proposals are in line with the government's initiative to induct private talent in state-run banks, which have accumulated huge bad loans due to poor credit analysis and a slowdown in the economy. The government has already split the position of chairman and chief executive, and is in the process of hiring private talent to head Punjab National Bank and other lenders. 

"There is a wide gap between public and private sector middle-level bankers, both in terms of remunerations and promotions," said Babu Sivaprakasam, partner (banking), Economic Laws Practice, a consultancy firm.

"If SBI is doing it, others too should follow suit as future lies on such progressive approach," said Sivaprakasam, who has worked for large public, private and foreign banks. 

An assistant/deputy general manager at a public sector bank is typically in the age group of 42-52 years, but much younger people often become vice-presidents at private sector banks and draw much higher salaries. An AGM or DGM earns Rs 22-28 lakh a year at SBI while a person can earn as high as Rs 35-45 lakh in top private banks, say headhunters. 

SBI plans to hire 2,000 probationary officers this fiscal while 500-1,000 people will be taken on as contractual staff. It will also recruit 5,000 assistants. "With digital banking being the focus, candidates should have sparks for Internet banking," said SBI's Mehra. 

In fiscal 2015, SBI reported a 23 per cent growth in net profit to Rs 13,102 crore. A 3 per cent distribution of net profit would mean allocating Rs 393.06 crore among 2.13 lakh employees, including 78,540 officers. Total employee payments, including salary and provision for wage revision, were 12 per cent up at Rs 19,393 crore during the period. 

Source : http://economictimes.indiatimes.com/jobs/sbi-seeks-government-nod-to-share-3-of-profits-with-its-employees-as-incentive/articleshow/48105224.cms?from=mdr