“The most significant contribution of the much-maligned Indo-Sri Lanka Accord has been the restructuring of the island nation’s postcolonial state” Discuss?

UPSC Prelims 2017 result declared.
Congrats to all those who have cleared it.

For those who haven't keep persevering and may success come to you very soon.

All the best to all for your future .

Who invented the lock and key?

Linus Yale, Jr.
In 1861, Linus Yale, Jr.  was inspired by the original 1840s pin-tumbler lock designed by his father, thus inventing and patenting a smaller flat key with serrated edges as well as pins of varying lengths within the lock itself, the same design of the pin-tumbler lock which still remains in use today.

What makes the center of Ice Cubes white ?

As the water freezes, it wants to form a regular crystalline structure (ice). That means impurities like oxygen and other dissolved gasses are pushed away from the crystallization front into the remaining liquid. This means that the last parts of the ice cube to crystallize end up with most of the impurities. If you’ll take a look at your photo of the ice cubes, you’ll note that the parts of the ice cube that were at the bottom of the tray are the milky colored bits. That’s because those were the last parts to freeze. The ice cubes in your tray froze from the top downward, which pushed the contaminant air downward until it was trapped at the bottom and had nowhere else to go.

What is a circuit breaker in stock exchange?

A circuit breaker is a financial regulatory instrument that is in place to prevent stock market crashes from occurring. Since their inception, circuit breakers have been modified to prevent both speculative gains and dramatic losses within a small time frame. As a result of being triggered, circuit breakers either stop trading for a small amount of time or close trading early in order to allow accurate information to flow amongst market makers and for institutional traders to assess their positions and make rational decisions.

🔺Important Summits In India 2017 🔺

🔸 International Summit on “Yoga for Diabetes” – New Delhi (January 2017)

🔸 National Women’s Parliament – Andhra Pradesh (March 8)

🔸 International Spice Summit- Thiruvananthapuram, Kerala (Feb 2017)

🔸 International Coin Fair –Kerala (Feb 2017)

🔸 South Asian Speakers Summit – 18 FEB 2017

🔸 Mobile World Congress 2017 – India

🔸 International Buddhist Summit – Rajgir,Bihar

🔸 International Diamond Conference 2017 –Mumbai

🔸 World Conference On Environment 2017 – New Delhi
ICEGOV 2017(International

🔸 Summit On Theory And Practice Of Electronic Governance) – New Delhi

🔸 Global Exhibition On Services (GES 2017) – New Delhi

🔸 International Summit On Dara Shikoh – New Delhi

🔸 Commonwealth Forestry Summit 2017 – Uttarakhand .


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***Important Days In June 2017*******
👉 ⏩⏩⏩ With Themes ⏪⏪⏪ 👈
01#World Milk Day
Theme:- Raise A Glass
01#Global Day of Parents
04#International Day of Innocent children victim's of aggression
05#World Environment Day
Theme:- Connecting People to Nature
06#Russian language Day
08#World Oceans Day
Theme:- Our Oceans, Our Future
12#World Day Against Child Labor
Theme:- In conflicts & disasters, protect children from child labour
13#International Albinism Awareness Day
Theme:- Not Ghosts | Stop killing & mutilating
Albinos
14#World Blood Donor Day
Theme:- Give Blood, Give Now, Give Often
15#World Elder Abuse Awareness Day
Theme:- “Understand and End Financial Abuse of Older People: A Human Rights Issue”.
16#International Day of Family Remittances
17#World Day to Combat Desertification
Theme:- Link Between Land Degradation & Migration
18#Autistic pride day
19#International Day for the Elimination of Sexual Violence in Conflict
Theme:- Preventing Sexual Violence Crimes through Justice & Deterrence
20#World Refugee Day
Theme:- Embracing Refugees to Celebrate our Common Humanity
21#International Yoga Day
Theme:- 'Yoga for Health and Harmony'.
21#World Music Day
Theme:- Musicians Gather to Perform at Public Place
21#World Hydrography Day
Theme:- Mapping our seas, oceans and waterways-more important than ever
23#WorldPublicServiceDay:
Theme:- ‘The Future is Now’
23#InternationalWidowsDay:
Theme:- Empowering Women for Greater Achievements
23#Olympic Day
25#Day of seafarer
Theme:- Seafarers Matter
26#International Day Against Drug Abuse and Illicit Trafficking
Theme:- "Listen First - Listening to children and youth is the first step to help them grow healthy and safe."
27#International MSME Day
29#National Statistic Day
Theme:- Administrative Statistics
30#World Social Media Day
*****************

Current Scoop: Important Government Schemes

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Schemes under Ministry of Finance-

1. Pradhan Mantri Vaya Vandana Yojana (PMVVY)-

For the senior citizens aged 60 years and above
The Scheme provides an assured return of 8% p.a. payable monthly (equivalent to 8.30% p.a. effective) for 10 years.
The scheme is exempted from Service Tax/ GST.
The PMVVY scheme will be available until May 3, 2018.
The scheme will be operated by LIC.
2. Jan Suraksha Yojana-

(i) PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA-

PMJJBY is a one-year life insurance scheme.
Renewable from year to year, offering coverage for death due to any reason and is available to people in the age group of 18 to 50 years
Premium of Rs.330/- per annum per member
life cover of Rs. 2 lakhs
(ii) PRADHAN MANTRI SURAKSHA BIMA YOJANA-

Premium of Rs.12 per year
Age group 18 to 70 years
Under it, risk coverage available will be Rs.2 lakh for accidental death and permanent total disability and Rs. 1 lakh for permanent partial disability
(iii) Atal Pension Yojana-

Launched in 2015 and replaced ‘Swavalamban Scheme’.
Open to all bank account holders who are not members of any statutory social security scheme.
Focussed on all citizens in the unorganised sector
Age Criterion-
Minimum age- 18 years
Maximum age- 40 years
The Union Govt. would also co-contribute 50% of the subscriber’s contribution or Rs. 1000 per annum, whichever is lower.
Subscribers would receive the fixed pension at the age of 60 years, depending on their contributions.
3. PRADHAN MANTRI MUDRA YOJANA (PMMY)-

Launched in 2015
In this scheme, Mudra (Micro Units Development and Refinance Agency) bank has been opened to fund all MFI (Micro Financial institutions) which provide loans to the MSMEs.
The lending priority will be given to SC/ST enterprises.
MUDRA Bank has launched three loan instruments:
(i) Shishu- loans up to Rs 50,000
(ii) Kishor- loans above Rs 50,000 and up to Rs. 5 lakhs
(iii) Tarun- loans above Rs 5 lakh and up to Rs 10 lakh
4. Varishtha Pension Bima Yojana-

To provide social security to the persons who are above or equal to 60 years.
Implemented through LIC.
It will provide an assured pension based on a rate of return of 8% per annum for ten years.
Varishtha Pension Bima Yojana -2017 is proposed to be open for subscription for a period of one year from the date of launch.

Which is the shortest war ever fought?

The war between Zanzibar (presently part of Tanzania) and the imperial British is the shortest war ever fought. It lasted for about 40 minutes. The immediate cause was the ascension of new sultan who was not ready to cooperate with the imperial power, thus British gave him an ultimatum to surrender which he rejected. In the ensuing battle their defense failed pathetically before the mighty royal navy.

QUESTION OF THE DAY 07/30/2017
==============================

Ques. : 1 The FRBM committee recommendations are under consideration by the Union Finance Ministry. The term FRBM stands for
1) Fiscal Reporting and Budget Management
2) Fiscal Restructuring and Budget Management
3) Fiscal Reorientation and Budget Management
4) Fiscal Responsibility and Budget Management
5) None of these
Answer:- 4) Fiscal Responsibility and Budget Management

Ques. : 2 Who among the following won the women’s singles title of the US Open Grand Prix Gold badminton recently?
1) Michelle Li
2) Aya Ohori
3) Nozomi Okuhara
4) Li Xuerui
5) Yu Yang
Answer:- 2) Aya Ohori

Ques. : 3 The 18th Anniversary of ‘Kargil Vijay Diwas’ was observed recently on
1) 12 Jul
2) 16 Jul
3) 19 Jul
4) 22 Jul
5) 26 Jul
Answer:- 5) 26 Jul

Ques. : 4 The Small Industries Development Bank of India (SIDBI) has started full-fledged merchant banking operations to benefit MSMEs. The SIDBI is headquartered at
1) Lucknow
2) Chennai
3) Hyderabad
4) Mumbai
5) New Delhi
Answer:- 1) Lucknow

Ques. : 5 The Reliance Defence and Engineering Limited (RDEL) launched ‘Shachi’ and ‘Shruti’ recently which the two naval
1) Anti-submarine Vessel
2) Minesweeper
3) Offshore Patrol Vessels
4) Fast Attack Craft
5) None of these
Answer:- 3) Offshore Patrol Vessels

Ques. : 6 Ajay Kanwal has been appointment as the new CEO of which of the following Payments/Small Finance Banks?
1) Janalakshmi
2) Paytm
3) Airtel
4) M-Pesa
5) Disha Microfin
Answer:- 1) Janalakshmi

Ques. : 7 As announced by the International Boxing Association (AIBA), which country will host the first Men’s World Championship in 2021?
1) Russia
2) Japan
3) China
4) Malaysia
5) India
Answer:- 5) India

Ques. : 8 The Jasper InfoTech has sold Freecharge to which of the following banks in about $60 mn?
1) ICICI Bank
2) HDFC Bank
3) Axis Bank
4) YES Bank
5) Kotak Mahindra Bank
Answer:- 3) Axis Bank

Ques. : 9 Which of the following countries has announced to ban the sale of new petrol and diesel cars from 2040 in an attempt to reduce air pollution?
1) India
2) UK
3) US
4) China
5) Japan
Answer:- 2) UK

Ques. : 10 PM Narendra Modi recently inaugurated the former President, Dr APJ Abdul Kalam’s memorial at Pei Karumbu in Rameswaram in
1) Kerala
2) Karnataka
3) Andhra Pradesh
4) Tamil Nadu
5) Telangana
Answer:- 4) Tamil Nadu

What is the fastest fighter jet in the world?

The MiG-25 was also the fastest plane ever offered for fun flights by MiGFlug – it was mainly used for Edge of Space flights. Number 3: Lockheed YF-12. This jet was an American interceptor prototype with a top speed of mach 3.35. It looked almost like the SR-71 Blackbird and featured three Air-to-Air missiles.

Income Tax Returns Update

CBDT has started accepting the ITR without Linking of PAN & Aadhaar. Due to many issues in Linking of Aadhaar with PAN because of Name, D.O.B., Gender etc. Mismatch; people are facing issue to Link Aadhar & PAN. Considering the Last days to file ITR for non-Tax Audit Returns; Now Income Tax Department is Accepting those Returns where Aadhaar Number is not Linked However you have to Mentioned Aadhaar Number

What is Model Bilateral Investment Treaty (BIT) 2016?

Bilateral investment Treaties (BITs) or Bilateral Investment Protection Agreements (BIPAs) are agreements between two countries for the reciprocal promotion and protection of investments in each other's territories by individuals and companies situated in either State. They provide treaty based protection to foreign investment. The BITs are thus bilateral agreements by countries to protect the investment by each country’s investors in the other country. Though they are signed by governments, their beneficiaries are business entities.

New Model Bilateral Investment Treaty (BIT)

The government had brought a new Model Bilateral Investment Treaty (BIT) in 2016 (often 2015 is also mentioned) and it became effective from April 2017 onwards, replacing the earlier framework. As a result of this change, new investment into the country has to be treated under the revised guidelines and negotiations should be started with partner countries.

Why the new Model BIT?

Main reason for bringing the Model BIT was the constant suing of the country by foreign firms. India was one of the most sued country during 2015 and 2016. According to UNCTAD- the international institution that tracks global investment trends, around 17 investor-state arbitrations are filed against the country launched by foreign investors by the end of 2015. Of these, nine are settled and seven are six are pending and in two cases the country has lost the arbitration. In these two cases, the entities –White Industries and Devas Multimedia have won arbitration against the country. The flooding of arbitrations including that of the Sistema, Vodafone, Children Investment Fund etc. tempted the policy makers to reframe the BITs.

The government thus has modified the existing 1993 BIT framework and brought out the 2015 Model BIT. The move is important as it will help the country to make its treaty more specific in international arbitrations. The textual consistency of a countries’ BIT determines its success in BIT negotiations and disputes.

Features of the new Model BIT

The Model Treaty brings several provisions either new or modifications of the existing one. Important features are mentioned below.

1. Enterprise based definition of investment instead of asset based definition

The Model has adopted an ‘enterprise-based’ definition of investment that under which investment is treated as the one made by an enterprise incorporated in the host state. Under the earlier ‘asset based definition’ of investment included intellectual property and other assets that whereas these assets are not considered as assets under the new definition.

The objective of adopting enterprise-based approach is to narrow the scope of protected investments and reduce the potential liability of the state under Investor-state dispute settlement (ISDS) claims. Asset based definition considers every kind of asset - both movable and immovable as investment and gives protection under treaties, though their contribution to national economic development is meagre.

2. Exclusion of MFN treatment

The most important feature of the amended model is that it droped the Most Favoured Nation (MFN) status previously included. Purpose of the MFN clause for the investors angel is to ensure that a say, a US investor is not discriminated compared to say, a Japanese investor.

In recent years, complaining foreign investors sued India arguing that they have to get the same beneficial treatment given to companies from other countries. This was happened in the case of White Industries. The Australian firm has highlighted the MFN status provided under the India-Kuwait BIT to claim compensation from the government and won an international arbitration. The White Industries case is pointed as the main factor that produced the deletion of the MFN clause.

3. Full Protection and Security (FPS): In the context of the Model, FPS means obligations only relating to physical security of investors and to investments.

4. State government as stake holders: Actions of the state..

... Governments are included under the Model BIT.

5.  Fair and equitable treatment (FET)

The Model BIT links Fair and Equitable Treatment to international laws. This is aimed to counter a broad interpretation and risk misuse. Here, customary international law, which is built in state practice, gives a minimum standard of protection to investors. Any potential violation listed in the provisions of denial of justice, breach of due process etc, requires a violation of customary international law for a claim to be justified.

When the Model BIT linked FET to international law, it gives more scope for government and regulators.

6. Expropriation

Expropriation means nationalization of assets of foreign companies. As in other BITs, the Model BIT provides that the State cannot nationalise or expropriate an Investment or take measures equivalent to expropriation, except “for reasons of public purpose” in accordance with the procedure established by law and on payment of adequate compensation. But it gives certain exemptions. Here, the Model BIT says that, any measure by a judicial body aiming to protect public interest will be outside the purview of expropriation. Similarly, non-discriminatory regulatory measures were also excluded.

7. Non-Discriminatory treatment

The Model BIT includes a new clause on non-discriminatory treatment for compensation of losses. As peer the clause, investors can avail non-discriminatory just compensation in circumstances like armed conflict, natural disasters and in the state of national emergency.

8. Provision for transparency

The Model BIT incorporates a clause for transparency, requiring the Parties (government and regulators) to ensure that all the laws, regulations, procedures and administrative rulings regarding matters covered in the BIT are published or are available for interested persons to get acquainted with them. The clause thus ensures clarity of laws and policies for the investors.

9. Corporate Social Responsibility 

The Model BIT mandates foreign investors to voluntarily adopt internationally recognized standards of corporate social responsibility.

10. Conditions for initiating arbitrations at international arbitrations 

The Model BIT stipulate that the aggrieved investor should use all local remedies as well as negotiations and consultations initiating arbitrations against the host State. Investor can use outside remedies only five years after resorting to all domestic arrangements.

11. The model BIT approved by the cabinet excludes matters relating to taxation.

The model Bill thus tries to balance protection to the investor with state regulations. More importantly it was configured in the context of excess legal arbitration against the state. What is more important is to renegotiate with the partner countries and attract foreign investment in the context of the change.

What is Model Bilateral Investment Treaty (BIT) 2016?

Bilateral investment Treaties (BITs) or Bilateral Investment Protection Agreements (BIPAs) are agreements between two countries for the reciprocal promotion and protection of investments in each other's territories by individuals and companies situated in either State. They provide treaty based protection to foreign investment. The BITs are thus bilateral agreements by countries to protect the investment by each country’s investors in the other country. Though they are signed by governments, their beneficiaries are business entities.

New Model Bilateral Investment Treaty (BIT)

The government had brought a new Model Bilateral Investment Treaty (BIT) in 2016 (often 2015 is also mentioned) and it became effective from April 2017 onwards, replacing the earlier framework. As a result of this change, new investment into the country has to be treated under the revised guidelines and negotiations should be started with partner countries.

Why the new Model BIT?

Main reason for bringing the Model BIT was the constant suing of the country by foreign firms. India was one of the most sued country during 2015 and 2016. According to UNCTAD- the international

Important days of August
🔅🔅🔅🔅🔅🔅🔅🔅🔅🔅🔅🔅🔅
✍August 6 Anti Nuclear Day
✍August 6 Hiroshima Day
✍August 8 World Senior Citizen's Day
✍August 9 Quit India Day
✍August 9 Nagasaki Day
✍August 12 International Youth Day
✍August 14 Pakistan's Independence Day
✍August 15 Indian Independence Day
✍August 18 IntI. Day of the World's Indigenous Peoples
✍August 19 World Humanitarian Day
✍August 19 World Photography Day
✍August 20 Sadbhavna Divas
✍August 29 National Sports Day
✍August 30 Small Industry Day
🔆🔆🔆🔆🔆🔆🔆🔆🔆🔆🔆🔆

MUNTRA: India's first unmanned tank rolled out by DRDO
➖➖➖➖➖➖➖➖➖➖➖
◆The Defence Research and Development Organisation (DRDO) has rolled out Muntra, India’s first unmanned, remotely operated tank at its Chennai lab.

◆It has been launched in three variants Muntra-S, Muntra-M and Muntra-N for surveillance, mine detection and reconnaissance in areas with nuclear and biological threats. It is also likely to be used in Naxal-hit areas.

★Key Facts

◆Muntra-S is the country’s first tracked unmanned ground vehicle (tank) developed for unmanned surveillance missions. Muntra-M is for detecting mines and Muntra-N is for operation in areas where there is nuclear radiation or biological weapon risk.

◆The Muntra variants have surveillance radar, an integrated camera along with laser range finder which can be used to spy on ground target 15km away – heavy vehicles or crawling men. This unmanned, remotely tele-operated tank has been successfully tested and validated at Mahajan field firing range in Rajasthan under dusty desert conditions.