Daily Current Affairs, 06th July 2018

1) ISRO Successfully Carries Out Flight Tests For Crew Escape System

•The Indian Space Research Organisation (ISRO) successfully carried out a flight test for a newly-designedCrew Escape System. It is meant for saving lives of astronauts in an exigency. According to ISRO, the first ‘Pad Abort Test’ demonstrated the safe recovery of the crew module in case of any exigency at the launch pad.

•It was launched from the Satish Dhawan Space Centre at Sriharikota, Andhra Pradesh. It was the first in a series of tests to ascertain the trustworthiness and efficiency of the Crew Escape System. 

2) Law Commission Recommends Regulating Betting

•The Law Commission recommended that gambling and betting on sports, including cricket, be allowed as regulated activities taxable under the direct and indirect tax regimes and used as a source for attracting foreign direct investment (FDI). The commission's report, 'Legal Framework: Gambling and Sports Betting including Cricket in India', recommends a number of changes in the law for regulating betting and generating tax revenues from it.

•In case legislation is made under Article 252, states other than the consenting states will be free to adopt the same. The commission has also recommended linking Aadhar or PAN card of an individual indulging in betting and gambling and making the transaction cashless to regulate illegal activities such as money laundering.

3) Animals Declared As ‘Legal Persons’ In Uttarakhand

•In a first, the Uttarakhand High Court accorded the status of ‘legal person or entity’ to the animals in the state. The HC stated that "they have a distinct persona with corresponding rights, duties and liabilities of a living person."

•The unique status was bestowed upon the state’s animals by a division bench of judges comprising Justice Rajiv Sharma and Justice Lokpal Singh while issuing a series of directions to prevent cruelty against animals.

4) 25 Countries In Global Banks’ ‘High Risk’ List

•China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as “high-risk jurisdictions” by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market.

•Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny while non-resident Indians and persons of Indian origin will run into new hurdles in participating in funds set up in these countries for trading on Indian exchanges. SEBI - registered foreign portfolio funds invest in India through 56 countries. Of these, 25 are now considered ‘high risk’.

5) NSG Becomes 1st Central Force To Opt For E-Ticketing Instead Of Railway Warrant

•The National Security Guard will be the first central paramilitary force to opt for e-ticketing instead of the railway warrant under an agreement signed with the IRCTC. 

•An MoU was signed between the Indian Railway Catering and Tourism Corporation and the NSG at the headquarters of the special force (New Delhi). This system will eliminate the need for carrying railway warrants by the NSG personnel.

6) Finance Ministry Keeps SSS' Interest Rates Unchanged For July-September Quarter

•The Finance Ministry has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The move is aimed at matching the hardening interest rates in the banking sector. Interest rates for small savings schemes are notified on a quarterly basis.

•The Interest rates on different Small Savings schemes are as follows:

Sl. No.	Schemes	Interest rate (in %)
1.	5 yr Senior Citizen Savings Scheme (Paid Quarterly)	8.3
2.	Savings Deposits	4
3.	Public Provident Fund (PPF)	7.6
4.	National Savings Certificate (NSC)	7.6
5.	Kisan Vikas Patra (maturity in 11 months)	7.3
6.	Sukanya Samriddhi Account (SSA)	8.1
7.	Term Deposit (1-5 years)	6.6-7.4