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MONEY IN SWISS BANKS: UK remains on top spot, India slips to 74th place

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MONEY IN SWISS BANKS
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As per data released by the central banking authority of the Alpine nation, India has moved down one place to 74th rank in respect of money parked by its citizens and enterprises with Swiss banks, while the UK has remained on the top spot.

According to the analysis of the latest annual banking statistics released by the Swiss National Bank (SNB), shows that India remains ranked very low, accounting for just about 0.07% of the aggregate funds parked by all foreign clients of banks of Switzerland. On the other hand, the top-ranked UK accounted for more than 26% of the total foreign funds parked with Swiss banks.

Highlights:

  • America is also included in among the top 5 countries that hold money in Swiss banks. After that, the West Indies, France and Hong Kong are number one. The share of these five countries is more than 50% of the total deposits.
  • Talking about the top 10 countries, the share of their deposits is two-thirds and the share of the top 15 countries is 75% which includes Bahamas, Germany, Luxembourg, Cayman Islands and Singapore.
  • India and neighbouring countries are far behind in depositing money in Swiss banks. Pakistan 82, Bangladesh 89, Nepal 109, Sri Lanka 141, Myanmar 187 and Bhutan 193 are a number.

Among the five-nation BRICS bloc of emerging economies, Brazil is at 65th place, Russia is ranked the highest at 20th place, followed by China at 22nd, India is at 74th, and South Africa at 60th place.

India was ranked highest at 37th place in the year 2004. And, it used to be among the top-50 countries in terms of holdings in Swiss banks till 2007. But due to changes in India framework, its rank started declining after that — 55th in 2008. It ranked 59th in 2009 and 2010 each, and then 55th again in 2011. But it reduced to 71st in 2012 and then to 58th in 2013.  India’s rank was 75 in 2015.

UK continues to account for the largest chunk at about CHF 372 billion and remains on the second position despite a dip to about CHF 144 billion (from CHF 166 billion a year ago).

Due to global clampdown against the erstwhile banking secrecy walls in the Alpine nation, the number of other major countries also saw their funds falling in Swiss banks.

Additionally, due to automatic information exchange framework with India, Switzerland and other countries, the famed secrecy walls of Swiss banks have crumbled. India has already been getting information on accounts where proof of illicit funds can be furnished.

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India

Uttarakhand Stations To Replace Urdu With Sanskrit On Railway Signboards

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The railway stations in Uttarakhand has come to a decision to replace Urdu language on signboards with Sanskrit on state railway platforms. Therefore the signboards which have the stations name in Hindi, English and Urdu would now be written in Hindi, English and Sanskrit.

The Railway Manual says that the names of the railway stations should be written in Hindi, English and the second language of the state. According to the railway officials the decision was taken to follow this provision in the manual as in 2010, the state government of Uttarakhand gave Sanskrit the status of second official language.
The former chief minister of the state Ramesh Pokhriyal Nishank said that he intends to promote Sanskrit in the state. Himachal Pradesh followed suit in 2019.

Moradabad railway division issued this order for the change after a local neta pointed it out. According to the chief public relations officer of the Northern Railway Deepak Kumar, the railway signboards should include the state’s second language along with Hindi and English and they are making the change now as someone has pointed this out.

It took around a decade to come to this decision after the language change in 2010. According to Kumar as Uttarakhand was part of Uttar Pradesh, hence the signboards retained the Urdu language as Urdu was the second language of Uttar Pradesh. But now as the division happened and Sanskrit was made to be the second official language of the state, the change is needed.

The state’s promotion of Sanskrit just does not end here. Last year it was made compulsory for schools in Uttarakhand to teach Sanskrit as a mandatory subject for students from 3rd standard to 8th standard in both private and government schools. In this hill state, where Sanskrit is already compulsory for children from classes 3 to 12 in government schools, there has been an allocation of Rs. 242 crores as grants to Sanskrit Pathshalas to promote the Sanskrit Language. Along with that, there were an additional 30 crores allotted to provide grants to aided Sanskrit schools and degree colleges.

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China

Indian Navy Keeps A Watchful Eye While Chinese Involvement In Indian Ocean Increases

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Indian Navy Chief Admiral Karambir Singh said on Wednesday that there has been an increasing involvement of Chinese in the Indian Ocean which the Indian Navy is carefully watching.

At the panel discussion in the Raisina Dialogue admiral, Singh said that there were several instances when the ships of the People’s Liberation Army(PLA) have entered exclusive economic zones if India. They have been further warned by the Indian Navy that they have been impinging on Indian interests.

He further adds that the Navy has been trying to get an idea about the activities and movements of not only Chinese ships but other countries’ ships as well by using a mission-based deployment for the placement of Indian Navy ships. He even said that this would help them to further act of there is any impingement of Indian sovereignty. He even mentioned China’s Belt and Road Initiative and the China-Pakistan Economic Corridor which he says could impinge on Indian sovereignty.

The panel discussion included several other prominent figures other than admiral Singh like the UK’s chief of Naval Staff Adm. Tony Radakin, Japan’s Joint Staff of Self-Defence Forces Gen. Jojo Yamazaki, France’s deputy director-general for international relations under the Ministry of Armed Forces Gen. Luc de Rancourt and Australia’s vice-chief of the Defense Force Adm. David Johnston.

This is not the first time China had been accused of entering or involving itself in other countries waters. There have been many cases relating to the South China Sea where China has entered waters of other countries. A month ago China was even accused by Indonesia for entering into Indonesian exclusive economic zone. In December, the Indian Navy had to ask China to retreat is naval ships from Andaman. There has been news about the increase in Chinese fishing fleets in Latin American waters too.

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Bollywood

Bollywood’s Deepika Padukone’s JNU Visit Backfires, Chhapaak Might Take The Fall

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After we see Bollywood showing their strength at Carter Road, Mumbai Deepika Padukone went to Jawaharlal Nehru University to express solidarity with faculty and students on Tuesday which many claims are just a PR tactic.

The actress was in Delhi to promote her film Chhapaak and later joins the protests at JNU against the violence that happened on campus on Sunday evening. She also meets Aishe Ghosh who is the injured president of the Jawaharlal Nehru University Students Union(JNUSU).

This gesture from a Bollywood star like her received significant attention considering Bollywood’s usual way of not taking a stance at all in light of protests held against Citizenship Amendment Act(CAA) or National Register of Citizens(NRC).

It begins with actress Sayani Gupta calling out the “selfie gang” on social media to issue statements. Alia Bhatt, Parineeti Chopra, Swara Bhaskar, Richa Chadha, Kokona Sen Sharma, Dia Mirza, Sonam Kapur, Huma Qureshi, Tapsee Pannu, and many from Bollywood are raising their voices against violence for an India that is secular and syncretic.

But this has backfired on Deepika as many claimed she did so for mere promotion. Deepika’s gesture being criticised heavily online for making a serious issue a part of a film promotion drive. These backlashes include a new protest online asking everyone to not watch her upcoming movie Chhapaak.

#boycottchhapaak is the second most trending topic in a twitter right now with around 458K tweets with people posting screenshots of booking cancellations for the movie. Many even resorted to talking ill about Ranveer Singh as he is Deepika’s husband or blocking and unfollowing her on twitter. Some even blame the movie for changing the name of the acid attack criminal from a Muslim name to a Hindu one to protect Muslims.

On the other hand, she also has support from many like Anurag Kashyap who said that’Women are Stronger beings’ and asking followers to prove him right by booking more tickets for the movie Chhapaak and by supporting people like her. She even receives support from Swara Bhaskar and Anubhav Sinha.






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Headlines

Meet the ISRO Chandrayaan 2 Team: 16500 Women and Men Worked Day & Night To Take India To The Moon

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ISRO Chandrayaan 2 Team: India made history by launching the Chandrayaan 2 – the world’s first mission to the Moon’s South Polar Region. It is extremely cost-effective compared to other lunar missions with a budget of INR 978 crore. And what makes this mission even more special is that 30% of the 16,500 people involved in the mission are women scientists from the Indian Space Research Organisation (ISRO), breaking the stereotypes and male domination in the space sector.

The list below appreciate the brilliant minds of most scientists and engineers behind Chandrayaan 2’s Journey to The Moon’s the South Pole, who was key to the development of the Chandrayaan-2 project.

Mission Director: Ritu Karidhal, The Rocket Woman of India

Ritu Karidhal joined ISRO as a young engineer in November 1997. In 2007, she has also received the ‘ISRO Young Scientist Award’ from A.P.J Abdul Kalam. In 2013-14, she was an operations director, assisting mission director V Kesava Raju for ISRO’s Mars mission. She has done Masters in Aerospace Engineering from the Indian Institute of Science.

Ritu Karidhal speaks at TED Talks India: Nayi Soch (New Thinking), video recorded August 18-28, 2017, Mumbai, India. Photo: Amit Madheshiya / TED

Indian Space Research Organisation Chairman: Kailasavadivoo Sivan, The Rocket Man

Kailasavadivoo Sivan is the chief architect of SITARA, the 6D trajectory simulation software. He is the backbone of all ISRO launch vehicles and is responsible for commissioning world-class simulation facility in ISRO. His innovations design in ISRO’s workhorse has played a great role in the launch of Chandrayaan 2. He has been a bedrock for the development of bigger rockets such as GSLV Mk II and III and highly consistent PSLV rocket programme.

Source: Ultim Hora

Project Director: Muthayya Vanitha (First woman project director at ISRO)

In 2006, Muthayya Vanitha won the best woman scientist award from the Astronautical Society of India. She is the first women project director at ISRO. Before taking charge of Chandrayaan 2 mission, she was part of Oceansat-2, Cartosat-1, and Megha-Tropiques teams.




Source: News Bugz

Director of the U R Rao Satellite Center in Bengaluru: P. Kunhikrishnan

P. Kunhikrishnan is a former director of its PSLV rocket programme. He played a very prominent role for carrying out 13 successive, flawless PSLV missions between 2010 and 2015, which also includes the 2013 Mars Orbiter Mission. He was the director of Satish Dhawan Space Centre in 2015.

Source: NDTV

Director of the ISRO Tracking, Telemetry & Command Network (ISTRAC): VV Srinivasan

At ISRO’s satellite centre, Srinivasan has played a key role as a communications engineer for several years. He also worked in Chandrayaan-1 mission for the development of a 32-metre Deep Space Network terminal. Mission Operations Centre of ISTRAC is responsible for health, performance and trajectory of the spacecraft.   ISTRAC also play a key role in communication with Chandrayaan-2’s lander and rover once lowered to the Moon’s surface.

Source: Indian Express






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India’s Chandrayaan 2 Not A Failed Mission As Orbiter Gives Crucial Mission Data

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India’s Chandrayaan 2
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The south pole of the moon–where India tried to go where no one had ever gone before. The Chandrayaan-2 has achieved 95 per cent of its mission objectives and all thanks to Chandrayaan-2 orbiter. With no second thought, Orbiter is the real hero as Chandrayaan-2 lander which failed to land made up only 5% of the mission, still gives crucial mission data to the ground station.

The box-shaped Chandrayaan 2 orbiter where 95% of experiments are done and is currently revolving around the moon, nearly 100 km above its surface. It weighs roughly around 2,379 kgs.

With the help of orbiter, Chandrayaan-2 would continue to explore the earth’s only natural satellite that remains in orbit around the moon.

What crucial information a Chandrayaan-2 orbiter will provide?

1. Chandrayaan 2 orbiter will help the Indian Space Research Organization (ISRO) scientists to collect remote sensing observations that will strengthen their understanding of Earth’s only natural satellite.

 

2. The orbiter camera is the highest resolution camera (0.3m) in any lunar mission so far. That will give insights into the origin and evolution of the moon over the years by creating a 3-D map of the lunar surface. The high-resolution images and the information will be immensely useful to the global scientific community.

 

3. The presence of major elements in the Moon such as Magnesium, Aluminium, Iron, Sodium, Silicon, Titanium and Calcium which will be provided by the soft x-ray spectrometers on the orbiter. This will help scientists to study each and every detail of the elemental composition of the moon.

 

4. The observations include the understanding of the Moon’s evolution and mapping of the minerals and water molecules in the Polar regions, using its eight payloads.

The orbiter carries eight scientific payloads for different jobs:

Serial No




Payloads

Primary Objective

1Terrain Mapping Camera 2 (TMC 2)Give clues about Moon’s evolution and help to prepare 3D maps
2Imaging IR Spectrometer (IIRS)Global mineralogical and volatile mapping of the Moon.
3.Chandrayaan-2 Large Area Soft X-ray Spectrometer (CLASS)Measures the Moon’s X-ray Fluorescence (XRF) spectra
4.Orbiter High-Resolution Camera (OHRC)High-resolution images of the landing site.
5.Dual Frequency Synthetic Aperture Radar (DFSAR)Quantitative estimation of water-ice in the polar regions and the estimation of regolith thickness and its distribution.
6Solar X-ray Monitor (XSM)Measures the intensity of solar radiation, observes the X-rays emitted by the Sun and its corona
7 Chandrayaan-2 Atmospheric Compositional Explorer 2 (CHACE 2)Study of the composition and distribution of the lunar neutral exosphere
8VikramStudy the temporal evolution of electron density in the Lunar ionosphere.

 

 






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