28Th June 2018 : Daily Current Affairs - UPSC CSE/IAS and State PSC

This page contains "28th June 2018" current affairs analysis from different newspapers and magazines like The Hindu, Indian express, PIB and Yojna.

Quality and relevance are two key features considered while writing the content, all the topics are based on the pattern of previously asked questions in exams like UPSC CSE, IAS, State PCS, SSC, Banks PO and likewise competitive exams.

Higher Education Commission of India (Repeal of University Grants Commission Act) Act, 2018

Centre is planning to replace statutory body University Grant Commission (UGC) with a new body named "Higher Education Commission of India." A draft named "Higher Education Commission of India (Repeal of University Grants Commission Act) Act, 2018" is presented in public domain and is open for suggestions from all stakeholders.

Why a new body is needed ?
The UGC is preoccupied with disbursing funds and is unable to concentrate on mentoring higher education institutes, focus on research, and implement other quality measures required in the education sector.

What is Higher Education Commission of India (HECI) ?

Higher Education Commission of India (HECI) seeks to replace UGC, where the proposed body will focus more on quality education while funding powers is been taken away from it, the body will also have power to close down bogus institutes.

The plan is to separate education quality and funding power of higher education. New Higher Education Commission of India will be responsible to ensure quality education while MHRD (Ministry of Human resource development) or any other new body will take care of funding universities and colleges.

As anticipated earlier, there is no plan to merge all higher education regulators into a agency called (Higher Education Empowerment Regulation Agency. Other regulatory bodies like AICTE and NCTE will also be reformed in similar manner.

UGS don't have powers to enforce compliance, it just have authority to list bogus institutes and not recognise their degrees. The new body will have powers to enforce compliance to the academic quality standards and the power to order closure of sub-standard and bogus institutions, the non-compliance could result in fines or even a jail sentence.

The composition of new body HECI will comprise a Chairperson, a Vice-Chairperson and 12 other members, an eminent academics and a prominent person of industry.

Implications with HECI
As proposed under the draft bill, the new body can take away higher education from the State's list since financial powers would now stay with the Central government.
Discuss: Higher Education Commission of India (Repeal of University Grants Commission Act) Act, 2018

ISA plans to start World Solar Bank

Why in news ?
In a bid to enhance finance exclusively for solar project, the International Solar Alliance is planning to contact 8 multilateral development banks.

World Solar Bank
International Solar Alliance (ISA) is planning to circulate the concept to selected multilateral development banks and propose to create a special purpose vehicle for the same, the special purpose vehicle so created by banks, financing $150 billion will be called "World Solar Bank".

ISA was proposed by Indian Prime minister in India-Africa Summit in Delhi on October 2015. ISA has joint declarations with the World Bank, African Development Bank, Asian Development Bank, AIIB, New Development Bank, European Investment Bank, European Bank for Reconstruction and Development and the Green Climate Fund (GCF) for enhancing cooperation in the solar energy area.

ISA is also planning to identify 5 common member countries between ISA and AIIB (Asian Infrastructure Investment Bank), for financing more projects from AIIB. China has a 31.02% stake in AIIB, while India, with 8.72% stake, is the second-largest stakeholder.

International Solar Alliance (ISA)

International Solar Alliance is an treaty based intergovernmental organisation, mooted by Indian PM Modi at India Africa Summit in 2015. The alliance was founded in Paris, France; just before 2015 United Nations Climate Change Conference.

The alliance has 121 countries most of them lies between tropic of cancer and Tropic of Capricorn, and hence called sunshine countries. Non sunshine countries can also join the alliance and get benefits provided, but can not vote.

The primary objective of the alliance is to reduce dependency on Fossil Fuels by promoting and exploring opportunities in Solar energy.

NPA is likely to rise : financial stability report released by the Reserve Bank of India

Why in news ?
According to financial stability report, released by RBI recently, the total Gross Not Performing Asset (GNPA) of banks is likely to rise.

More in news
RBI has anticipated that Gross Non Performing Asset (GNPA) of scheduled commercial banks of India is likely to rise from 11.6% in March 2018 to 12.2% in March 2019, highest in last two decades.

The capital to risk-weighted assets ratio (capital adequacy ratio) is expected to drop from 13.5% in March 2018 to 12.8% in March 2019. Indicating more worry for banking system.

The report also finds that public sector banks (PSBs) are far more prone to fraud than their private sector counterparts.

While banks are under stress, the economy is returning on track with a GDP growth of 7.7% in last quarter, however RBI have raises concern about rising external risks for economic growth and banks:

The tightening of monetary policy by the United States Federal Reserve and increased borrowing by the U.S. government have already caused credit to flow out of emerging markets such as India.

RBI has also stressed that, government recapitalisation scheme to PSUs and introduction of Insolvency and Bankruptcy Code will help in reduce bank's stress.

India is no more a poorest country : US think-tank Brookings

Why in news ?
A US think tank brooking has published a report named "Future Development", that says India is no more a home for largest number of poor in the world.

More in news
According to study, Nigeria, in western Africa, is now at number one while Democratic Republic of the Congo, also in Africa, could soon get the number 2 position. Moreover Extreme poverty in Nigeria is growing by six people every minute.

World Bank keeps a person in extreme poverty category if; he is living on less than 1.90 USD a day. Based on SDGs, India needs to pull 1.6 people per second out of extreme poverty to eredicate extreme poverty out of the country completely.

As per the study, Africa have 2/3 of total extreme poors of the world, if current trend persist this will go upto 9/10 by 2030. Africa also contains 14 out of 18 countries where extreme povert is rising.

According to report, 1.1 person per second is coming out of extreme poverty while to meet SDGs by 2030, this rate should be 1.5 person per second.

Mycorrhizal fungi

Wny in news ?
According to a study, Toxic air is now affecting trees as well, a fungi (Mycorrhizal fungi) important for providing mineral nutrients to tree roots is been found affected by toxic air.

Mycorrhizal fungi

Mycorrhizal fungi, is found in tree roots and help the tree in providing nutrients like Nitrogen, Phosphorus and Potassium from the soil in exchange for carbon from the tree.

Discoloured leaves and excessive falling of leaves are indications of malnutrition in trees. The association between the host tree and Mycorrhizal is generally Mutualistic.

Test Your preparation with: 28 Jun, 2018 | Current Affairs multiple choice questions

Share your suggestions, ideas, inputs on the topics discussed above. Its always good to be interactive ! :)