China To Allow Nepal Access To Ports
- Ending India's monopoly on transit, China has allowed Nepal the access to its ports at Tianjin, Shenzhen, Lianyungang, and Zhanjiang.
- Nearest of these ports is Zhenjiang which is 2755 km away from Nepal border. While the Indian port (in their use) of Kolkata is only 774 km and Visakhapatnam is 1194 km away.
- Nepal imports from Japan, South Korea, and other North Asian countries; access to Chinese ports will cut cost and time, Nepal officials claim.
- China had also agreed to allow Nepal use its dry (land) ports at Lanzhou, Lhasa, and Xigatse as well as roads to these facilities.
- Apart from this development, China is already making fast inroads into Nepal with aid and investment in the field of infrastructure development especially road and railways.
- Nepal depends heavily on India for the supply including essential goods.
Nepal snubs India for BIMSTEC First Military Drill
- Pune is hosting first ever six-day BIMSTEC joint military exercise focusing on counter-terrorism from September 10.
- Nepal's Prime Minister PK Oli has reportedly instructed his Chief of Army to cancel its participation.
- The reason for such a decision has been attributed to questions raised by ruling party and opposition parties in Nepal for the purpose of any such exercise.
- Such a decision was taken in a time when next PM in line Pushpa Kamal Dahal 'Prachand' (as per power-sharing agreement with Oli) is already on the visit to India on the invitation of PM Mode.
- It must be noted that the whole government has denied the information about the military drill in local media, as the decision was of Nepal Army. Relation of Nepal civilian govt and army has been rough in past, and even now lack of communication is clearly visible, though there is no major friction.
Odisha's Resolution for Legislative Council
- Odisha Legislative Assembly has passed a resolution for formation of a 49 member Legislative Council in the state.
- Now it will require the approval of Union Cabinet and then Parliament followed by President's assent to become an Act.
- Currently, seven states have Legislative Councils viz. Andhra Pradesh, Bihar, Jammu and Kashmir, Karnataka, Maharashtra, Uttar Pradesh, and Telangana.
- Currently, proposals for the formation of Legislative Council in Rajasthan and Assam is pending in Parliament. Earlier, Tamil Nadu withdrew the similar proposal.
- The strength of the Legislative Council of any state cannot have more than one-third of its state assembly and less than 40. (Article 171)
Amitabh Chaudhry, Axis Bank's new MD & CEO
- HDFC Life's 54-year-old MD and CEO has received RBI's nod to be appointed as the MD and CEO of Axis Bank.
- He will take over the position after Shikha Sharma on January 1, 2019; and will hold this position for the next three years.