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PCS INTERVIEW DAILY CURRENT - MAY


NDIA DEVELOPING 12 MORE CHECKPOSTS FOR BORDER TRADE 

  • India is developing nearly a dozen more international-standard Integrated Check Posts(ICPs) along its borders with Bangladesh, Myanmar and Nepal on the lines of the one which opened last month at the Attari border with Pakistan.
  • In the first phase, seven ICPs would be set up at Raxaul and Jogbani (in Bihar) along the border with Nepal, Moreh (in Manipur) along the border with Myanmar and Akhaura (in Tripura), Dawki (in Meghalaya) and Petrapole (in West Bengal) along the border with Bangladesh.
ROLE OF ICP:
  • The ICPs are being commissioned to secure India's borders against interests hostile to the country and to put in place systems that would interdict such elements while facilitating legitimate trade and commerce and as a part of an overall strategy for more improved border management.
FACILITIES TO BE PROVIDED AT ICP:
  • Apart from passenger terminal buildings, adequate customs and immigration facilities, weigh bridges, security and scanning equipment, currency exchange booths, internet facility, warehouse and cold storage, health and quarantine facilities, clearing agents, banks, scanners, close circuit televisions, public address systems, parking, cafeteria, hotels and other public utilities would be available at the ICPs
other current
  1. New Pension and Life Insurance Fund (PILF) scheme: The Indian government is promoting this scheme in a bid to provide financial security to poor Indians working abroad. PILF is for Indian workers aged between 18 and 50 who have a work permit or employment contract and whose passports carry the 'Emigration Clearance Required'stamp. The worker has to pay Rs.5,000 to become a member. The government will contribute Rs.2,000. If the person is a domestic help, the amount would be Rs.3,000. The PILF scheme was announced in January 2012
  2. Basel III: RBI has issued the final guidelines for implementation of Basel III capital regulation in India, which would be effective from January 1, 2013, in a phased manner. The Basel III capital ratios will be fully implemented on March 31, 2018. Banks have to maintain Tier I capital, or core capital, of at least 7 per cent of their risk weighted assets on an ongoing basis