. Current Affairs 5th Week .

31st Jan 6th Feb 2016

Best of Current Affairs Desk

10th February

IN THIS WEEK

WHAT'S NEW NIRDESHAK.COM

Place
MISSIONS
BANKING
SPORTS
POLICY
CORPORATE
COMMITTEE
SCIENCE

Dear Readers,
Nirdeshak.com has initiated all new Current
Affairs (BNCA) with weekly pdf update. In todays
competitive scenario, it has become most crucial
to read more analytical and absorbable content,
in order to get best result. The content is
developed scientifically developed so that it
becomes short, easy to remember and only
relevant part is recalled for exam preparation.
This is helpful for current affairs preparation,
developing acumen for interviews, GD and
overall remembering more get best scores in
competitive exams, for Banks, IBPS PO, SBI, IAS,
SSC and other exams.
In the week, many place, events and policy
remained important as India and world saw
many developments. Further know more about
key personalities of the week, banking news,
government policies and foreign relations with
neighbours.
Happy learning,
Warm regards

Editorial Team
Nirdeshak.com

Missions
Policy
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
To Know: MGNREGA, which was earlier known as
NREGA, came into effect on 2 February 2006. It was
implemented by the then United Progressive Alliance
(UPA) government. Then it covered only the 200 poorest
districts of the country and was expanded to cover all
rural areas of the country from April 2008.

In the short span of 10 years that the Act has been in existence, it has generated
19.86 billion person-days of employment benefitting 276 million workers, with more
than half the jobs going to women workers and almost a third to members of
scheduled castes and scheduled tribes.
MGNREGA has played a much larger role in revitalizing the labour market in rural
areas. Not only has it led to the creation of a class of workers who are using the
MGNREGA as a safety net, but these workers are also able to use it as a bargaining
tool for extraction of higher wages.

Defence
Chinese Army on 1 February 2016 established militarys five new battle zones.
To Know: Chinese Army on 1 February 2016
reclassified seven military regions into five new
battle zones the East, West, South, North and
Middle battle zones. These new zones will now
shoulder the responsibility of responding to their
respective security threats, upholding peace and
constraining conflict.

It is worth mentioning that China is pushing

major reforms in its military establishment for some time now.
The reforms include establishing a joint operational command structure by year
2020 and rejigging existing military regions, as well as cutting troop numbers by
300,000.
It has already inaugurated a general command unit for the Peoples Liberation Army
(PLA) in 2015. Later PLAs four military headquarters were split into 15 new units
covering everything from logistics to equipment development, political work and
fighting corruption.

Defence
Hindustan Turbo Trainer 40 (HTT-40)
To Know: Hindustan Turbo Trainer- 40 (or HTT-40) is
the name of the indigenous replacement for the Indian
Air Forces retired HPT-32 Deepak that is being
developed to be used as a basic trainer aircraft.

The HTT-40 will be an all-metal tandem seat

aircraft powered by a 950 HP (708 kW) turbo-prop
engine.
But the project to develop HTT-40 has been marred by doubts and controversy. The
Indian Air Force (IAF) repeatedly told the Defence Ministry the HTT-40 would be
over-weight, over-priced and under-performing. But HAL doggedly continued
development, committing more than Rs. 350 crore of company funds.
In its place, the IAF wanted to import over a hundred new trainers from Swiss
company, Pilatus, to supplement the 75 Pilatus PC-7 Mark II trainers it had already
bought.
The IAF, is now convinced about the HTT-40s viability, and wants to take charge of
the project.
The prototype of HTT-40 was rolled-out from a hanger on 2 February 2016 with all its
lights flashing and its cockpit powered on. (Photo Courtesy: HAL)

Appointment
Head of Mission and Force Commander of the United Nations Disengagement Observer
Force (UNDOF) Major General Jai Shanker Menon
To Know: Major General Jai Shanker Menon was Additional Director General Equipment
Management in the Indian Army. From 2012 to 2013, he was General Officer, Commanding
an Infantry Division of the Indian Army.

He was appointed the head of UNDOF by UN Secretary-General Ban Ki-moon on 2

February. He replaced Lt. General Purna Chandra Thapa of Nepal, who will complete
his assignment on 7 February 2016.
The UNDOF was established on 31 May 1974 by UN Security Council (UNSC)
following the agreed disengagement of the Israeli and Syrian forces in the Golan.

Since then, UNDOF has remained in the area to maintain the ceasefire between the Israeli
and Syrian forces and to supervise the implementation of the disengagement agreement.

Flag Officer Commanding in Chief Vice Admiral Girish Luthra

To Know: Vice Admiral Girish Luthra took over charge as the Flag Officer Commanding-inChief of the Southern Naval Command from Vice Admiral Sunil Lanba on 30 January at a
function held at the Naval base in Kochi.

On the other hand Vice Admiral Sunil Lanba assumed the charge of the Flag Officer
Commanding in Chief, Western Naval Command at a function held at Mumbai on 31
January 2016. He took reins from Vice Admiral SPS Cheema, who retired on the same
day.

Health
Zika Virus
Mosquito-borne disease, spreading through the Americas.
To Know: Zika Virus is a member of the Flaviviridae virus
family and in humans, it initially causes a mild illness
known as Zika fever, Zika, or Zika disease. It is related to
dengue, yellow fever, Japanese encephalitis. However,
Zika virus infection in pregnant women has been linked
with thousands of cases of newborn microcephaly by
mother-to-child transmission.

Year 2016 is witnessing the most widespread outbreak of Zika virus in history is
ongoing in the Americas. The outbreak began in April 2015 in Brazil, and
subsequently spread to other countries in South America, Central America, and the
Caribbean.
On 28 January WHOs director-general Marcos Espinal stated that Zika virus had
gone from a mild threat to one of alarming proportions and it is expected to affect
three million and four million people now.

Health
The World Health Organization (WHO) on 1 February 2016 made which important
announcement pertaining to explosively spreading Zika virus It declared it as an
international emergency
To Know: The WHO convened an emergency meeting of independent experts on 1 February
2016 to assess the outbreak after noting a suspicious link between Zikas arrival in Brazil last
year and a surge in the number of babies born with abnormally small heads.

Later it was declared an international emergency, despite the fact that there was no
definitive proof that the Zika virus, spread by mosquitoes, is responsible for the birth
defects. Such emergency declarations are meant as an international SOS signal.
WHO estimates there could be up to 4 million cases of Zika in the Americas in the
next year.

The last such public health emergency was declared for the devastating 2014 Ebola
outbreak in West Africa, which killed more than 11,000 people.

Corporate
Alphabet
To Know: Apple Inc., which has long been on the top of the worlds
most valuable companies list, slipped to second place as Googles
parent company Alphabet Inc. on 1 February overtook it to become
no.1. This happened after Alphabet released a fourth-quarter
earnings report that highlighted the robust growth of the digital ad
market. Apple Inc.s iPhone, meanwhile, is suffering its first
downturn since it debuted eight years ago.

Based on that after-hours bump, Alphabets market value stood at $555 billion while
Apples was at $533 billion, based on the most recent regulatory filings showing the
companys outstanding shares. Apples stock has been sliding amid concerns over
slowing iPhone sales
However, this ranking can change very quickly.

Bharat Biotech (Hyderabad)

Indian drug manufacturer, claimed to have filed for global patents of two vaccines for Zika
virus.
To Know: Hyderabad-based Bharat Biotech on 3 February claimed to have filed for global
patent of two vaccine candidates a recombinant vaccine and an inactivated vaccine for
Zika virus. It also announced that it could make available the inactivated vaccine in two
years if the Indian Government fast-tracked the regulatory approvals once the pre-clinical
trials proved to be successful.

With this Bharat Biotech could become the worlds first company to develop a
vaccine to fight Zika virus.
Bharat Biotech claimed that work on Zika vaccine project was started in 2014 and
the patent was filed in July 2015.
Zika is now present in 23 countries. Brazil, the hardest-hit country, has reported
around 3,500 cases of the devastating birth defect called microcephaly.

Award

Law
Law
Justice (retired) Sanjay Misra appointed as the new UP Lokayukta.
To Know: It is worth mentioning that the Supreme Court went ahead
with a rare display of its extraordinary powers vested under Article
142 of the Constitution to appoint Justice Singh as Lokayukta from a
list of five names presented to it by the State government on 16
December 2015.

However, the appointment triggered a row when news reports surfaced that the
State government had included Justice Singhs name in the list of five shown to the
apex court despite objections raised by High Court Chief Justice D.Y. Chandrachud
about Justice Singhs integrity.
A Bench of Justices Ranjan Gogoi and Prafulla C. Pant then on 28 January appointed
another former High Court judge, Sanjay Misra, as the States anti-corruption
ombudsman.

Sports
Tennis
Australian Open 2016
Sania Mirza and Martina Hingis won the Australian Open (2016) womens doubles. This was
the consecutive Grand Slam title for Sania and Martina Third
To Know: The top seeds Sania Mirza (India) and Martina Hingis (Switzerland) defeated
seventh seeds Andrea Hlavackova and Lucie Hradecka by 7-6 (1), 6-3 in the womens
doubles final on 29 January.

It was their third consecutive Grand Slam title for Sania and Martina, having won the
Wimbledon and US Open in the 2015 season.

In an incredible feat, Sania and Martina have now extended their unbeaten run to 36
matches, winning eight titles in a row. They won five straight titles in 2015, starting
from the US Open and before the Australian Open now.
It was Sanias second title at the Australian Open, having won the mixed doubles in
2009 with Mahesh Bhupathi.

Sports Tennis
Angelique Kerber (Germany) Defeated six-time champion Serena Williams (US) in the
womens singles final of the Australian Open.
To Know: Seventh seeded German player Angelique Kerber ended sixtime champion and top seeded Serena Williams unbeaten streak in
finals on 30 January 2016 and won a major title for the first time.
Williams was an overwhelming favourite to win the final where
she had won all six previous times shed reached the final. But Kerber
displayed great guts to stun Williams by 6-4, 3-6, 6-4.
It is worth mentioning that Williams won the Australian Open,
French Open and Wimbledon titles last year before losing to Roberta
Vinci in the US Open semifinals.

Badminton
K Srikanth - won the mens singles title of the Syed Modi Badminton Grand Prix Gold that
concluded on 31 January 2016 at Lucknow.
To Know: Top-seeded and world no. 9 Kidambi Srikanth of India defeated Huang Yuxiang of
China in the mens singles finals of the Syed Modi Badminton Grand Prix Gold Cup on 31
January. He defeated Huang by 21-13, 14-21, 21-14 in three games to claim the title.

Srikanth had reached the summit clash in the last edition as well. This was his fifth
major title, having won the 2013 Thailand Grand Prix Gold, 2014 China Super Series
premier and Swiss Open Grand Prix Gold and India Super Series during 2015.
In the womens singles final, South Korean Sung Ji Hyun edged out Japan s Sayaka
Sato 12-21, 21-18, 21-18 to win the title.
However, Indian men s doubles pair of Pranaav Jerry Chopra and Akshay Dewalkar
wasted two match points in the second game to go down 14-21, 24-22, 21-8 against
Malaysian pair of V. Shem Goh and Wee Kiong Tan in their first-ever Grand Prix Gold
summit clash.

Tennis
Novak Djokovic won the mens singles title of 2016 Australian Open on 31 January 2016.

To Know: Novak Djokovic of Serbia defeated Andy Murray in straights sets by 6-1, 7-5, 7-6
to earn his sixth Australian Open title of his magnificent career.

This was Djokovics 11th Grand Slam title overall. His 11th grand slam title also
means he has drawn level with Bjorn Borg and Rod Laver.
On the other hand, Murray has now lost all five Australian Open finals he has played,
four of them against Djokovic. He thus also became only the second man (behind his
former coach Ivan Lendl at the US Open) to lose five finals at the same Grand Slam
since the open era began in 1968.

Railway
E-Tickets & i-Tickets
This new provision to allow book a maximum of six tickets in a month will come into effect
from which date 15 February 2016
To Know: The new provision pertaining to capping the number of online tickets
for individual users to 6 per month were formulated keeping in view the
analysis of usage of quota of 10 tickets. This analysis indicated that ninety per
cent of users are booking up to six tickets in a given month and only 10 per
cent are making more than six tickets.
The revised rules for booking ticket through IRCTC are as follows:

Individuals are allowed only two tickets per user-ID in a day from 8 am to 10 am.
Individuals are allowed only two tickets per user-ID in a day for Tatkal booking from
10:00 am to 12:00 noon.
A maximum of 6 tickets can be booked online in a month by an individual.
Quick Book Option is disabled from 08 am to 12 noon
Booking is not allowed through e-wallet and cash cards from 8 am to 12 noon.
There is only one booking in one user login session except for return/onward journey
between 08 am to 12 noon.

Science
MAGIC (Modular, Agile, Intensified & Continuous) Process Lab CSIR-National Chemical
Laboratory (Pune)
To Know: The MAGIC Process Lab at CSIR-NCL (Pune) is expected to bring about a paradigm
shift in the way in which Indias fine and specialty chemicals industry will operate in the
future.

The MAGIC processes developed in this lab can radically change currently practiced process
technologies into modern processes that are cleaner, greener, safer, compact, scalable and
economical.
Medicine
Indias first anti-diabetic ayurvedic drug BGR-34
To Know: BGR-34 is the name of the countrys first anti-diabetic
ayurvedic drug (for type II Diabetes). It has been developed jointly by
National Botanical Research Institute (NBRI) and Central Institute for
Medicinal and Aromatic Plants (CIMAP), the Lucknow-based research
units of CSIR.

While the modern diabetes drugs are known for side-effects and toxicity, BGR-34
works by controlling blood sugar and limiting the harmful effects of other drugs. The
product has passed several battery tests and showed hypoglycemic activity in
experimental subjects.

AIMIL Pharmaceuticals (I) Limited has been roped in for commercial production and
extended distribution of BGR-34.

Person
Person
Death - Former Army Chief General KV Krishna Rao 1971 Bangladesh Liberation War
Explanation: General Rao was the 14th Chief of the Army Staff of Indian
Army and had an illustrious career spanning over four decades in the
force. He headed Indian Army from 1 June 1981 to July 1983.

His Division participated in the 1971 India-Pakistan War in

Eastern Theatre and was instrumental in the capture of Sylhet area and
liberation of North-East Bangladesh.
After his retirement he was appointed Governors of four states
(Nagaland, Manipur, Tripura and Jammu & Kashmir) for different tenures. He was
made Governor of Jammu & Kashmir in 1989, a time when militancy was at its peak
in the state.

Person
Death - T.N. Gopakumar
To Know: T.N. Gopakumar was the editor-in-chief of Asianet, a Malayalam
TV channel. He was also the popular anchor of the show Kannadi.

His show was noted for sharp commentary and revealing portraits of
Kerala that was far away from the development tapestry as it was hailed to
be.
Gopakumar started his journalistic career with The Indian
Express and later worked with Mathrubhumi, News Time,
Statesman, Independent, India Today and BBC Radio. He returned to Kerala
when entrepreneur and journalist K. Sashikumar launched the Asianet channel in
1991.
He was suffering from cancer and passed away on 30 January 2016 at the age of 58.

Person
Death - Balram Jakhar
To Know: In 1980, Balram Jakhar became Lok Sabha Speaker and served
till 1989 for two terms during which he was instrumental in
automation and computerisation of the House works. He also contributed
to the establishment of Parliament Museum.

He was best known for his tenure as Lok Sabha Speaker. When he
served this post? From 1980 to 1989
Jakhar also served as Agriculture Minister in the Cabinet of former
Prime Minister Narasimha Rao. He also served as Governor of Madhya
Pradesh from 30 June 2004 to 30 May 2009.
He was a four-time MP in Lok Sabha starting from his election in the seventh Lok
Sabha in 1980. He was again elected in 1984, 1991 and 1998. He was 92 and passed
away in New Delhi on 3 February 2016 after battling a brief period of illness.

Person
Archana Ramasundaram
To Know: Archana Ramasundaram, a 1980 batch officer of the Tamil
Nadu cadre, created history when she was appointed the new Director
General (DG) of Sashastra Seema Bal (SSB). She thus became the first
woman to head a paramilitary force in the country.
Archana is currently Special Director, National Crime Records
Bureau. She has been appointed to the post till the date of her
superannuation, 30 September 2017.

The SSB is entrusted with guarding the countrys frontiers with Nepal and Bhutan.
The other four paramilitary forces are the Central Reserve Police Force (CRPF),
Border Security Force (BSF), Central Industrial Security Force (CISF) and Indo Tibetan
Border Police (ITBP).

Automobile
Automobile
Bajaj Auto
Launched V, a new bike, which contains the metal from Indias first aircraft carrier INS
Vikrant Bajaj Auto
To Know: Bajaj Auto, the Pune-based two and three-wheeler
maker, rolled-out the 150-cc bike, christened V. The main
attraction of V is that it has been built from metal used in the
countrys most celebrated aircraft carrier the INS Vikrant. The
bike sports a special logo to commemorate the aircraft carrier.

INS Vikrant was commissioned as the first aircraft carrier

of Indian Navy in 1961. After years of distinguished service, she was decommissioned
in January 1997 and served as a museum till 2012. In late 2014, Vikrant was
dismantled and sold as scrap metal.
Bajaj Auto purchased the Vikrant metal and processed it to be a part of its new
brand. The company feels that the new bike will therefore preserve a significant
piece of Indian military history. (Photo Courtesy : The Hindu)

Place
Guwahati and Shillong
This biggest multi-sporting event of the SAARC region is being held in which two cities of
India?
To Know: The biggest multi-sporting event of the SAARC region the 12th
South Asian Games (12th SAG) was held at the Indira Gandhi Athletics
Stadium in Guwahati on 5 February 2016.

India is hosting the 12th South Asian Games, 2016 in Guwahati

and Shillong from 5 February to 16 February 2016.

The motto of SAG 2016 is Play for Peace, Progress and Prosperity. Tikhor the baby
rhino is the mascot of these games.
The South Asian Games (SAG) is a biennial multinational multi-sport event held
amongst the athletes from South Asia and being organized in the similar format of
Olympics, Asian Games, and Commonwealth Games (CWG).
In the 12th edition of the South Asian Games this year, more than 2600 athletes
from eight member countries namely, Afghanistan, Bangladesh, Bhutan, India,
Maldives, Nepal, Pakistan and Sri Lanka are participating.

Place
Lepetkata Assam Gas Cracker Project
To Know: Rs.10,000 crore Assam Gas Cracker Project has been
established at Lepetkata in Upper Assams Dibrugarh district.
Executed by the Brahmaputra Crackers and Polymers Ltd., the
project missed several deadlines and overshot the budget.

It was envisaged by the then prime minister Indira Gandhi in

1984 and given shape by Rajiv Gandhi as prime minister in 1985 at the end of the sixyear- long anti-foreigners agitation. The then prime minister Manmohan Singh laid
the foundation stone of the project in 2007.
Gas Authority of India Ltd (GAIL) has 70% stake in BCPL while Oil India Limited,
Numaligarh Refinery Ltd and Assam government have 10% each.
The project will use naphtha and natural gas from Assams oilfields to produce
ethylene, the feedstock for manufacturing polymers that are basic building blocks of
plastics.

Place
Defence - Vishakhapatnam
To Know: The International Fleet Review 2016
is being held at Vishakhapatnam (Andhra
Pradesh) from 4 to 8 February 2016.

The theme (motto) for IFR 2016 is

United through Oceans. However, the overall
theme of this event is Make in India.
This is the second IFR to be held in India
and the first on the East Coast. The last IFR was
held in Mumbai in 2001 and was reviewed by

the then President KR Narayanan.

The objective behind this International Review, is to signal the Indian Navys
emergence as a pre-eminent power that sets the agenda in the northern Indian
Ocean. Among the 54 navies taking part, there is a tacit acceptance of this regional
primacy, and a shared belief that this is in the common interest. Participating this

year is practically every major navy in the world, including the Peoples Liberation
Army (Navy) of China. Other important countries participating in IFR include USA,
UK, Japan and Australia.
54 navies are participating in IFR 2016, compared to 29 in 2001, and 24 foreign
warships are at Vishakhapatnam, exactly the same number as in 2001 in Mumbai.
During the review, 24 foreign naval chiefs are expected to visit Visakhapatnam, while
some 4,000 foreign sailors will also be part of this event. Apart from this, 75 Indian
warships will participate in IFR 2016.

Tiruvaiyaru
169th edition of the annual Tyagaraja Music Festival was held on 28 January 2016.
To Know: Tyagaraja Music Festival (also known as Tyagaraja Aradhana) is
held in the memory of saint composer Tyagaraja at Thiruvaiyaru (Tamil
Nadu). The saint had attained samadhi at this place on the Pushya Bahula
Panchami day in 1847.
The renowned proponents of Carnatic music from all over the
world descend each year at Tiruvaiyaru to mark the occasion. 169th
edition of Tyagaraja Aradhana was held on 28 January as legendary
exponents and devout rasikas sang in unison to salute the spirit of Saint Tyagaraja.

Andhra Pradesh Kapu Community

To Know: Andhra Pradeshs Kapu community has been demanding job
reservations under Other Backward Caste (OBC) category for quite
some time. Chief Minister N. Chandrababu Naidu had promised OBC
status to the community during Assembly elections in 2014.

The protest, which was going on for some days, turned violent on 31 January 2016 as
the agitators went on rampage, setting four coaches of Ratnachal Express on fire at
Tuni station near Vijayawada and blocked the national highway-16 in East Godavari
district. However, no casualty took place as all passengers had vacated the bogies.
Seven trains were cancelled, four others partially cancelled and six diverted on the
Vijayawada-Rajahmundry-Visakhapatnam section due to the protest.
Later on 1 February 2016 the leaders of Kapu community called off its agitation after
assurances from Chief Minister Chandrababu Naidu.

Marshall Islands
Brings a lawsuit against 9 countries including India for allegedly failing to halt the nuclear
arms race.
To Know: The tiny Marshall Islands in March 2016
will seek to persuade International Court of Justice

(ICJ) to take up a lawsuit against nine countries that includes India, which it accuses of failing
to halt the nuclear arms race.

The International Court of Justice on 30 January 2016 announced dates for separate
hearings for the three cases between 7 and 16 March 2016.
In 2014, the Marshall Islands accused nine countries of not fulfilling their obligations
with respect to the cessation of the nuclear arms race at an early date and to nuclear
disarmament.
The 9 countries involved in this matter are China, Britain, France, India, Israel, North
Korea, Pakistan, Russia, and the United States.
The Marshall Islands had decided to sue the worlds nuclear heavyweights as it has a
particular awareness of the dire consequences of nuclear weapons. Between 1946
and 1958 the United States conducted repeated nuclear tests in the Marshall Islands.
In the cases brought against India and Pakistan, the court will examine whether the
tribunal based in The Hague is competent to hear the lawsuits.

Banking
Monetary Policy
Reserve Bank of India (RBI) Governor Raghuram G. Rajan presented the sixth bi-monthly
monetary policy review on 2 February 2016. All the key rates were kept unchanged in the
policy review which meant that the most important Repo Rate will remain unchanged at
6.75%. What the projected growth rate is for fiscal 2016-17 as stated in the review? 7.6%
Explanation: Keeping the key rates unchanged, the RBI indicated
that rates would continue to soften.

The RBI Governor, however, cautioned that the

recommendations of the Seventh Pay Commission had not been
factored into its growth projections.
After the latest review, the repo rate, or the rate at which the central bank infuses
liquidity into the system, remained at 6.75%. The cash reserve ratio (CRR), or the
portion of a banks money maintained with the central bank in cash, remained at 4%.
The RBI expected growth 7.6% for the financial year 2016-17 (ending March 2017).

Banking
FlexiPay Home Loan scheme by SBI for Young working professionals
To Know: Under the FlexiPay Home Loan scheme, which has been
launched primarily for young professionals, the borrowers can pay only
interest during a three-five-year moratorium. Thereafter they will pay

moderated equated monthly installments (EMIs).

The EMIs will be stepped up during the subsequent years, capturing payment of the
principal component. This arrangement is expected to lower the impact of such
additional loan amount on monthly repayments in the form of EMIs.
This scheme is expected to enable young working professionals/executives to get
higher loan amounts compared to their loan eligibility under normal home loan
schemes.

Banking
India Investment Summit seeks to attract long term investors including Sovereign Wealth
Funds and Pension Funds across the globe organised by Department of Economic Affairs
(Ministry of Finance) in partner with SBI Caps
To Know: The Summit is to showcase and discuss the huge long term infrastructure
investment opportunities in India.

The Government of India has already established National Investment and

Infrastructure Fund (NIIF) as a Category II Alternate Investment Fund (AIF) under the
Securities and Exchange Board of India (SEBI) Regulations.

Finance Minister Arun Jaitley also unveiled the logo of the Rs 40,000-crore NIIF on the
inaugural day. The objective of NIIF is to maximise economic impact mainly through
infrastructure development in commercially viable projects, both greenfield and brownfield,
including stalled projects and other nationally important projects.

Policy
Policy State
Ujwal Discoms Assurance Yojana (UDAY)
To Know: Uttar Pradesh on 30 January 2016 became the first non-BJP ruled state to sign the
MoU for Ujwal Discoms Assurance Yojana (UDAY). It became the fourth state (overall) to
sign MoU after Rajasthan, Chhattisgarh and Jharkhand. The total states that have given inprinciple approval of joining the UDAY reforms are now 15.

For the states that sign up for UDAY, one of the first steps is to take over 75% of
discom debt as on 30 September 2015 over two years 50% in 2015-16 and 25% in
2016-17.
UP, with its five distribution companies (discoms), has a total debt exposure of Rs
53,200 crore, outstanding as on November 2015, will now be restructured under
UDAY.

Nuclear Energy
Nuclear Energy
India has ratifies an international convention on nuclear energy accident liability This
makes India part of a global legal regime that has established a standard for
compensation of victims in the event of a nuclear accident.
To Know: A statement from the Indian foreign ministry on 4 February 2016 said India has
submitted the Instrument of Ratification of the Convention on Supplementary
Compensation (CSC) for Nuclear Damage to the International Atomic Energy Agency (IAEA).

International nuclear reactor makers such as General Electric have been reluctant to
set up plants in India because of a 2010 domestic liability law that makes equipment
suppliers accountable for accidents and not the plant operators, as is the global
norm.
Therefore no US company had been willing to invest in Indias nuclear power market
for fear of the liability clause in its domestic law.
Last year, India launched an insurance pool with a liability cap of Rs.1,500 crore
($225 million) to cover the suppliers risk of potential liability.