1 . SUPREME COURT REQUESTS STATES FOR A NATION WIDE BAN ON PET COKE AND FURNACE OIL
SOURCE – HINDU
- The Supreme Court on Friday requested all States and Union Territories to move forward towards a nationwide ban on the use of pet coke and furnace oil to power up industries, in a bid to fight pollution.
- The Environment Bench of the Supreme Court had already ordered a ban on the industrial use of pet coke and furnace oil in the States of Uttar Pradesh, Haryana and Rajasthan on October 24.
- This ban specifically came after an Environment Pollution Control Authority Report recommended the ban on sale, distribution and use of furnace oil and pet coke in the National Capital Region (NCR). Their use is already prohibited in Delhi.
WHAT IS PET COKE ?
- Petroleum coke, abbreviated coke or petcoke, is a final carbon-rich solid material that derives from oil refining, and is one type of the group of fuels referred to as cokes.
- Petcoke is the coke that, in particular, derives from a final cracking process–a thermo-based chemical engineering process that splits long chain hydrocarbons of petroleum into shorter chains—that takes place in units termed coker units.(Other types of coke are derived from coal.)
- Stated succinctly, coke is the “carbonization product of high-boiling hydrocarbon fractions obtained in petroleum processing (heavy residues).”
- Petcoke is also produced in the production of synthetic crude oil, or syncrude from bitumen extracted from Canada’s oil sands and from Venezuela’s Orinoco oil sands.
2 . GLOBAL TERRORISM INDEX 2017
SOURCE – ECONOMIC TIMES
- The GTI 2017 index, which covered 163 countries, ranked India eighth, same as in the year before.
- However, from 2002 to 2015, India’s global ranking had remained higher, varying between the second and sixth positions.
- Maoists operating in the so-called Red Corridor that runs through the eastern, central and parts of the southern regions of the country were responsible for more than half of the 340 deaths in 929 terror attacks in India during in 2016, according to the fifth edition of Global Terrorism Index (GTI).
- A higher ranking indicates a higher impact of terrorist activities.
- The report said India has the lowest rate of deaths per attack among the 10 most affected countries even as the number of attacks was relatively higher, indicating how the nature of terrorism appeared to be different from that in other countries.
WHAT IS GLOBAL TERRORISM INDEX ?
The Global Terrorism Index (GTI) is a report published annually by the Institute for Economics and Peace (IEP), and was developed by IT entrepreneur and IEP’s founder Steve Killelea.
The index provides a comprehensive summary of the key global trends and patterns in terrorism since 2000.
The GTI is based on data from the Global Terrorism Database (GTD) which is collected and collated by the National Consortium for the Study of Terrorism and Responses to Terrorism (START) at the University of Maryland.
- The GTI covers 163 countries, covering 99.7% of the worlds population.
3 . BAD BANK – A SOLUTION TO DEAL WITH STRESSED ASSETS
SOURCE – ECONOMIC TIMES
- India’s Insolvency and Bankruptcy Code is not the only way to deal with stressed borrowers and the government should look at other options, including the formation of a bad bank, Asian Bankers Association Chairman Daniel Wu said.
- Wu was also doubtful about the effectiveness of the Rs 2.11 lakh crore recapitalisation plan announced by the government for state-owned banks.
- “IBC is not the only solution to the bad loan problem – many countries prior to India have encountered the same problems,” Wu said on the sidelines of the 34th ABA General Meeting and Conference hosted by State Bank of India on Thursday.
- Some countries have separated the bad loans from the good loans because you put all the bad loans into an asset management company and let people only focus on that.
- “When we deal with our bad loans, we just cut it off. I need to make more money instead of dealing with collection or approaching courts to recover the money. It’s not worthwhile,” said Wu.