Posted by: jayanthv | February 2, 2008

GK stuff

Hey guys some gk notes. Hope it’ll be useful

Micro-credit- The poor are often exempted from claiming formal financial loans as they lack any sort legal surety or collateral. Micro-credit basically tackles this problem by providing small loans to the poor and the weaker sections of the society at a lower rate of interest without requirement of any surety or collateral. It has its origins from Bangladesh, notably from the Grameen Bank. Thanks to the policies and the success of the Grameen Bank, micro-credit is presently gaining credibility in the finance industry. The Grameen Bank and one of its founding members Muhammad Yunus were awarded the Noble Peace Price in 2006. (2005-UN declared it as Year of Micro-credit)

 

India-US Nuclear deal- Before understanding the Indo-US deal let us look into why the deal was signed

Firstly there is the NPT (Non Proliferation Treaty) – according to this treaty, those nations which have ratified it get access to civilian nuclear technology from a group of nations known as Nuclear Suppliers Group (NSG). However India and several other countries didn’t not become signatories to this agreement as they opined this agreement is discriminatory. This is because according to the treaty only those countries which have tested nuclear weapons prior to 1967 are given legitimate possession of the same.

 

So India had not been a part of the NPT. However India requires nuclear fuel technology to satisfy its energy demands. Thus India and the US signed a pact for the transfer of civilian nuclear technology from the US to India, provided India maintains with the safeguards of the IAEA.

 

The name123 agreement comes from “section 123 of the US Atomic Energy Act 1954” which provides for nuclear co-operation between US and any other nation”.

 

However the pact faced stiff competition from many other political fronts in India because these oppositions (the BJP and the left) felt that certain provisions in the pact are against India’s sovereignty. The US opposition to the deal fear misuse of nuclear tech by India

 

As of now, the bill has been drafted but needs to be ratified by both the nations.

 

Cheers

Jayanth V

Will post some more

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Responses

  1. tooo good jayanth!!!!!
    thanks a ton!!!!!!!!:)
    waiting for more of it!

    cheers!

  2. Great stuff here.
    But since its gonna be just objective this time please put on point wise stuff.
    Is so much of it actually required?

  3. i wnt more of it plz

  4. Great stuff here.

  5. hey der!!thnx a ton!!do keep us updated lyk tis!!:-)


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