Current Affairs of 3rd December 2015

Daily Current Affairs contains all major news that occurs National and International Level.It will helpful for those students who are preparing for Bank Exams- IBPS/SBI/PO/Clerk exam and all other competitive exams .

1. Justice Tirath Singh Thakur sworn in as 43rd Chief Justice of India
1. Justice Tirath Singh (TS) Thakur was sworn in as 43rd Chief Justice of India (CJI) by President Pranab Mukherjee at Rashtrapati Bhavan, New Delhi. Thakur succeeded incumbent Justice H L Dattu who retired on 2 December 2015.
2. He will have the tenure as CJI for over one year and will retire on 4 January 2017.

2. PM releases ₹1,000 cr for TN flood relief
1. Prime Minister Narendra Modi has released ₹1,000 crore for Tamil Nadu for flood relief, after undertaking an aerial survey of the affected areas in and around Chennai.
2. This is over and above the ₹940 crore, which was released earlier.

3. Goa Government launches National Food Security Act, 2013
1. Goa Government has launched the National Food Security Act (NFSA), 2013 to benefit more than one third of the state’s population. It will bring more than one third population of the coastal state into legal entitlements of existing food security programmes and schemes of Central Government.
2. Around 5 lakh 11 thousand persons in the targeted Public Distribution System (PDS) in Goa will receive 5 kgs subsidised rice or wheat per person per month. Rice will be given at the subsidised rate of 3 rupees per kg and wheat at the rate of 3 rupees per kg to target persons.
3. For the implementation of the scheme, Union government will bear a subsidy of 65 crores rupees, while the state government will spend 25 crores annually.

4. Union Cabinet gives nod to establish 6 new IITs
1. The Union Cabinet has approved proposal of setting up of 6 new Indian Institutes of Technology (IITs) across the country. The 6 new IITs would be set up in Andhra Pradesh, Chhattisgarh, Goa, Jammu and Kashmir, Kerala and Karnataka.
2. In its first year, each new IIT will have an initial intake of 180 students and each IIT will have a sanctioned faculty-student ratio of 1:10. In the second year, the intake strength would increase to 450 and subsequently in the third year to 928 (840 Undergraduates, 80 Postgraduates and 8 PhD).
3. The Union Cabinet also gave its approval for operationalisation of these new 6 IITs initially by forming of Societies under the Societies Registration Act, 1860. This provision will be mainly to give them legal status till the amendment in The Institutes of Technology (IIT) Act, 1961 is enacted for their incorporation.

5. Union Cabinet approved signing of MoU between India and Iran on visa facilitation
1. The Union Cabinet  approved the signing of the agreement between India and Iran on visa facilitation for Diplomatic, Official/Service and Ordinary passport holders.
2. As per the agreement, upon presentation of an official note by the local Ministry of Foreign Affairs along with the visa application, the resident Diplomatic Missions in the host country would, within 20 working days, issue a gratis visa valid for 90 days for the holders of valid Diplomatic/Official/Service passports, assigned on long-term missions to the Diplomatic Missions or the Consulates General.
3. Appropriate gratis visas of three months' validity for visiting close family members (blood relations such as parents, siblings, adult children as well as in-laws) and visas for other close relatives of the assignees, on the payment of visa fees due would be issued.
4. Major Features of the agreement 
•    The agreement says that on presentation of an official note by the Ministry of Foreign Affairs stating the purpose of the visit, a non-extendable gratis entry visa will be issued within three working days, with a validity of up to fifteen days, to political authorities and officials travelling for specific bilateral purposes or to participate in a conference or seminar.
•    It allows a multiple-entry gratis visa of three months' validity, for stays up to 20 days during each visit, for the audit/financial and IT/computer officials who travel on stated official business to their respective Diplomatic Missions and Consulates General will be issued within 15 working days.
•    Under special administrative exigencies, a single-entry gratis visa of validity up to three months for temporary deployments to the Diplomatic Missions or Consulates General in the host country will also be issued within 15 working days.
•    Upon presentation of an official note by the local Ministry of Foreign Affairs along with the visa application of the teachers and their dependent spouse and children, a single entry Service/Official gratis visa of three months' validity will be issued, within twenty working days.
•    This Agreement will come into force upon signing and exchange of official notes confirming that legal formalities on either side have been fulfilled.
•    This Agreement will be valid for an indefinite period. Each Party may, however, terminate this Agreement by giving a written notice for this purpose through diplomatic channels, at least 60 days in advance.
•    Either Party reserves the right to prevent the entry, shorten or terminate the stay of the nationals of the other party in accordance with their respective laws and regulations.
•    This Agreement can be amended at any time as decided and mutually agreed upon in writing by the Parties. Any dispute arising out of the interpretation, implementation or application of any provision of this Agreement shall be settled amicably through consultation or negotiation between the Parties.

6. International Day of Persons with Disabilities observed with theme Inclusion Matters
1. International Day of Persons with Disabilities was observed across the world on 3 December 2015 with the theme Inclusion matters: access and empowerment for people of all abilities.
2. United Nations estimates say that about one billion people are living with disabilities across the world. They face barriers of inclusion in many key aspects of society.

7. Brazil entered longest recession since 1930s
1. Brazil’s economy contracted by 1.7 percent during July-September 2015 compared to April-June period in 2015. An announcement in this regard was made by the government on 1 December 2015.
2. It was Brazil's third consecutive quarter of contraction starting from January 2015 and thus, making it the country's longest recession since the 1930s.
3. Key facts related to Brazil’s economy
• Inflation rose to over 10 percent, the highest in 12 years, in October 2015.
• Unemployment rate was pegged at 8.9 percent during July-September 2015 up from 6.8 percent in 2014-15.
• Due to lower earnings, household spending fell by 4.5 percent during July-September 2015.
• Real, Brazil's currency was down about 31 percent against the dollar between January-November 2015.
• Bovespa, Brazil's main stock index, has been decelerated by about 27 percent since September 2014.
• Foreign and domestic investments in Brazil have declined for nine straight quarters.
Reasons of Recession-Primary reasons for recession in Brazil are multiple. They range from continuing global economic slowdown, shrinkage in exports and unprecedented scandal at the government-run oil company Petrobras.
All these factors together have had impact on business climate in the country and thereby dwindling economic activity.

8. Dholera airport gets Green nod
1. The proposed Dholera airport in Ahmedabad district has received much-needed environmental clearance from the Central government, which will make way for the setting up of one of the world-class greenfield airports in India. 
2. The proposed airport will come up on the land area of 1,426 hectare near Navagam in Ahmedabad district. According to a report by Airports Authority of India (AAI), this project will be developed in three phases with an estimated cost of around Rs. 1,712 crore, of which the first phase will cost Rs. 716 crore.
3. In order to develop the project professionally, the state government has set up a company under the name of Dholera International Airport Company. The Airport will cater to the regions of Vadodara, Rajkot, Bhavnagar, Nadiad, Kheda and Anand. 
4. By January 2016, the project is expected to receive the in-principle approval from the Civil Aviation Ministry of Government of India

9. Union Cabinet approves DTAC agreement with Japan
1. Union Cabinet has approved signing and ratification of a protocol between India and Japan for amending the Double Taxation Avoidance Convention (DTAC). It aims at avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. 
2. The protocol incorporates provisions for an effective exchange of information and assistance in collection of taxes between tax authorities of the two countries. It also includes exchange of banking information between tax authorities.

10. Vijay Kumar Choudhary elected as Bihar assembly Speaker
1. Senior Janta Dal United (JDU) leader Vijay Kumar Chaudhary has been elected as new Speaker of Bihar legislative assembly. The pro-tem Speaker and Congress MLA Sadanand Singh had announced election of Mr. Chaudhary as the new Speaker. 
2. He was elected unanimously after all parties supported his candidature including main opposition Bhartiya Janta Party (BJP). Mr.Chaudhary is a five time MLA and represents Sarai Ranjan assembly constituency of Samastipur district and is a close associate of Chief Minister Nitish Kumar 
3. Previously in Bihar Legislative Assembly, he had severed as JDU Leader of Legislature Party. He also had served as the Minister for Water Resources, Agriculture and Information & Public Relations Departments in the cabinet under Nitish Kumar.

11. Veteran industrialist MAM Ramaswamy passes away
1. Veteran industrialist and former parliamentarian MAM Ramaswamy passed away in Chennai, Tamil Nadu. He was 84. He was the last King of Chettinad and co-founder and past chairman of the Rs. 10,000 crore Chettinad Group of companies.
2. He was also the first person to enter the Guinness Book of World Records for winning 100 horse racing Classics.

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