Current Affairs – January, 2017

Latest Current Affairs January, 2017 with Current Affairs, news summary on current events of National and International importance of January, 2017 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

PDF Compilation of these updates can be downloaded from This Link

RBI prohibits investments in non-cooperative countries and territories

The Reserve Bank of India (RBI) has prohibited Indian entities from making direct investments in any entity located in Non-Cooperative Countries and Territories (NCCT) as identified by Financial Action Task Force (FATF).

The prohibition is for aligning instructions under FEMA (Foreign Exchange Management Act) with the objectives of the FATF. At present, there is no restriction on an Indian entity with regard to the countries where it can undertake Overseas Direct Investment (ODI).

The NCCT initiatives principal objective is to reduce the vulnerability of the financial system to money laundering by ensuring that all financial centres adopt and implement measures for the detection, prevention and punishment of money laundering according to internationally recognised standards.

About Financial Action Task Force (FATF)

  • FATF is an inter‐governmental policy making body established in 1989 with ministerial mandate to establish international standards for combating money laundering and terrorist financing.
  • Its objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to integrity of international financial system.
  • Initially it was only dealing with developing policies to combat money laundering. But in 2001 its purpose was expanded to act against terrorism financing.
  • Currently, it comprises two regional organisations and 35 member jurisdictions, including India, UK, US, China and the European Commission.

Month:  Categories: Defence & Security

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Genetically Modified mosquito trials launched to control dengue, chikungunya and zika

Outdoor caged trials of genetically modified mosquitoes waere launched in Dawalwadi, Badnapur in Jalna district of Maharashtra to demonstrate the efficiency this technique to suppress wild female mosquito populations that transmit dengue, chikungunya and Zika.

The trials are conducted by Oxitec and uses the Release of Insects carrying Dominant Lethal genes (RIDL) technology.

Key Facts
  • Oxitec’s technology uses GM male Aedes aegypti mosquitoes that carry a dominant lethal gene. This gene is passed on to offspring after male GM mosquitoes mate with wild female mosquitoes.
  • The lethal gene in the offspring kills the larvae before they reach adulthood. Since male mosquitoes do not bite humans, the release of these GM mosquitoes will not increase the risk of dengue, chikungunya and Zika.
  • Oxitec’s mosquitoes were first released in Brazil were they have successfully reduced the local populations of mosquitoes by more than 90%, whereas insecticides only affect 30%.
  • Advantages: This strategy is considered as most eco-friendly solution so far to control the spread of infectious diseases as it only targets a specific mosquito strain and does not produce any toxic compounds. It has 99% efficiency to kill offspring.
Background

Dengue is estimated to infect 5.8 million people in India every year, costing the country over $1 billion annually. In recent times, outbreaks of Chikungunya, a mosquito borne viral disease have been increasingly reported in India. Both viral diseases are transmitted by female Aedes aegypti mosquitoes. The World Health Organization (WHO) has fully supported the genetically engineered mosquitoes during last year’s Zika outbreak.

Month:  Categories: Science & Technology

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