REVISION NOTES FOR EXAM - 2011
On January 1, 2011, INDIA has joined UNSC as a non-permanent member for 2 year term after a period of 19 years.
ACU – Asian Clearing Union. This is a mechanism used for payments among nine Asian nations with regards to the trade. After every two months the imports by the nine nations are settled after deducting the export amount. Earlier the payment used to be in US dollars, but since America imposed economic sanctions against Iran, the currency has shifted to Euro. The central banks of the nine nations involved are - Central banks of India, Bangladesh, Maldives, Myanmar, Iran, Pakistan, Bhutan, Nepal and Sri Lanka.
OCI & PIO terms stands for Overseas Citizens of India & Persons of Indian Origin. PIO card is held by those Indians who are of Indian origin but are settled outside India. With this card, they need not any visa to come back to India. Also spouse of PIO is also PIO.
India Bangladesh agreed to sign an interim accord on 15 year water sharing of common rivers Teesta(Tista) & Feni. Discussions are also going on for five other common rivers — Dharla, Dudhkumar, Manu, Khowai, Gumti and Muhuri.
China has developed its own prototype of FGFA (Fifth Generation Fighter Aircraft) J-20, and became the third nation to develop FGFA after US & Russia.
Trade Target with Indonesia is set to $ 25 billions by 2015. India & Indonesia on their way to sign CECA (Comprehensive Economic Co-operation Agreement). The agreement is aimed at reducing tariff on goods and sevices between the two nations.
There was an issue of Indian students getting admission in non-recognized universities in US. The university as such which came to news was TVU (Tri Valley University). So HRD ministry in India to help students avoid such things has asked EdCIL to prepare some online project / website so that Students know about such things before taking admissions. EdCIL is Education Consultants India Ltd. It is a public undertaking, which offers consultancy & technical services in different areas of education.
India has an arctic research centre in Svalbard region of Norway by the name Himadri.
In the Antarctica, the research centre has the name Maitri.
India signed TIEA Tax Information Exchange Information with British Virgin Islands, Bahmas for exchange on information on tax in an attempt to check tax invasion & black money.
India has signed Civil Nuclear agreements with a total of 9 nations. Some are for supplying fuel, some for R& D and setting up the plant. The countries with which India has signed similar pacts are Russia, the United States, France, Mongolia, Argentina, Kazakhstan, the United Kingdom, Canada and the latest is South Korea.
IREL ( Indian Rare Earths Ltd) which comes under Dept of Atomic Energy was earlier restricted for collaborations with Japan. But an agreement was signed last year 2010 between PM of Japan & India for exploring the possibilities of collaboration.
Russia launched Glonass Satellite - a next generation navigation satellite for its global communication system.
India has taken over as co-chair of Asia Pacific Regional Review Group of the Financial Action Task Force, an inter-gvt body which sets standards for combating money laundering and black money & terrorists financing.
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