East Asia Summit(EAS)
- 13th East Asia Summit
- Held in Singapore. India has been participating in the EAS since its very inception in 2005
- The EAS consists of 10 ASEAN nations (Indonesia, Thailand, Singapore, Malaysia, the Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos), Australia, China, India, Japan, New Zealand, South Korea, Russia and the U.S
RBI’s Central Board
- The government appoints the Board in accordance with the RBI Act of 1934.
- The full strength of the Board is 21, including the Governor and a maximum of four deputy governors.
- The Board is required to meet at least six times a year and at least once every quarter.
- The RBI Act allows for a five-year term for the Governor and the deputy governors, but it can also be less. Raghuram Rajan was given a three-year term, and did not get an extension. Patel has been given a three-year term, which can be extended by another two years.
- These non-official part-time directors enjoy a term of four years.
- The government is not obliged to seek the Governor’s views or his concurrence on directors it seeks to appoint. But traditionally, Finance Ministers informally speak with the Governor on their choice before taking the proposal to the Appointments Committee of the Cabinet (ACC).
- The Act specifies that the deputy governors and the government nominees may attend any or all meetings of the Central Board, but are not entitled to vote.
Cold ‘super-Earth’
- A cold super-Earth exoplanet orbiting around the red dwarf Barnard — the second closest star system to Earth has been discovered.
- The planet is called Barnard’s star b.
- It is a super-Earth with a minimum of 3.2 Earth masses.
- Barnard’s star, which is just six light-years away, moves in Earth’s night sky faster than any other star.
- It is smaller and older than our Sun and is among the least active red dwarfs known, so it represents an ideal target to search for exoplanets.
Miscellaneous
- Fitch Ratings retained India’s sovereign rating at ‘BBB-’, the lowest investment grade rating.
- Section 7 of the RBI Act empowers the government to issue directions to the RBI Governor.
- India’s merchandise trade deficit widened in October to $17.13 billion due in large part to a higher oil import bill.
- Per capita steel consumption of steel in India is at 69 kg compared to the world average of 214 kg.
- MSME sector accounts for about 45 per cent of manufacturing output in the country and nearly 40 per cent of the total exports
- Members of National Commission of Women hold office for a period of three years or till the age of 65 years.
