Current Affairs, News & Facts of 16 Jul 2015

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  • Government clears Transit Oriented Development plan (TOD ) for Delhi
    1. Union Government approved the Transit Oriented Development (TOD) policy for Delhi to address the issues of pollution, congestion and lack of housing for the poor and middle class
    2. Transit Oriented Development (TOD) policy is expected to recast Delhi's landscape as part of review of Master Plan for Delhi - 2021
    3. TOD is a key policy initiative for low-carbon, high-density and compact living spaces. The TOD zone would comprise approximately 20 percent of Delhi’s overall area

    Key features of the Transit Oriented Development (TOD) Policy :-

    • Under the TOD policy, the Floor Area Ratio (FAR ) for constructions around mass rapid transit systems (MRTs) like the Metro has been doubled which will help to address the issues of traffic congestion and shortage of housing in Delhi and allow more vertical constructions.
    • Earlier the  Floor Area Ratio (FAR) was up to 250 per cent  while now the  Floor Area Ratio (FAR) would be  400 which will allow more floors in a building that is required to address lack of land availability.
    • The TOD policy shall be adopted for development within the Influence Zone (extending up to 500 metres on both sides of mass rapid transit system (MRTS corridors)so that the maximum number of people can live, work and find means of recreation within walking/ cycling distance of the MRTS corridors/ stations.
    • TOD will not be applicable in the Lutyens Bungalow Zone, Civil Lines Bungalows Area, Monument Regulated Zone, Zone 'O' (around the Yamuna river) and Low Density Residential Area. 
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  • Govt grants security clearance to Huawei to set up unit in Tamil Nadu
    • Ministry has given the green signal to Chinese telecom solutions provider Huawei’s proposal of setting up a manufacturing unit in Tamil Nadu but the clearance has been granted on certain condition as the appointment of Indian nationals at key positions of the company
    • Huawei had submitted a proposal in December 2013 that it wants to set up a unit for electronics and telecom hardware and support services, including trading and logistics activities, at the Special Economic Zone, Sriperumbudur in Tamil Nadu at a cost of Rs 25 crore
    • Ministry had recommended that the Department of Industrial Policy and Promotion (DIPP) or the Department of Telecommunications may consider reserving critical positions in the firm from national security point of view.
    • The clearance to Huawei will pave the way for further Chinese investment in the country as it would send a positive signal to possible investors 
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  • RBI sets up Deepak Mohanty Committee to frame action plan on financial inclusion
    • The Reserve Bank has set up a committee to prepare five-year action plan to spread the reach of financial services to unbanked population. 
    • The committee will be a 14-member panel which will be headed by RBI executive director Deepak Mohanty the committee will review the existing policy of financial inclusion including supportive payment system and customer protection 
    • It will also take into account the recommendations made by various committees set up earlier 

    Objectives of the committee :-

    • Articulating the underlying policy and institutional framework
    • Covering consumer protection and financial literacy
    • The committee will encompass both households and small businesses, with more emphasis on rural inclusion including group-based credit delivery mechanisms
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  • Champions League T20 of Cricket scrapped with immediate effect
    • The Governing Council of the Champions League T20 has decided to scrap the tournament with immediate effect .
    • The decision was made unanimously by the Governing Council of  Champions League Twenty20 (CLT20 ) which  comprises of  Board of Control for Cricket in India (BCCI), Cricket South Africa (CSA) and Cricket Australia (CA). 
    • The 2015 CLT20 scheduled for September and October will not go ahead as planned 
    • CLT20 was scrapped as there was poor response from fans  and recently Justice Lodha Committee had suspended  IPL teams CSK and Rajasthan Royals for two years.
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