Bargad Aashram desk

2019-10-20T11:06:00.002-07:00

RESULTS 2019-20
The following candidates have reported their success. We are happy to contribute a little bit to their success. Bargad aashram wishes them all the best in their banking career.

Distt. Cooperative Banks - Final Selection from waiting list.
1) Anjali sharma DCB Ujjain
2) Sonam Rajdev DCB Ujjain

GRAND SUCCESS - SBI PO final SELECTION 2019
Congratulation and best wishes to
1) Miss MADHU WASWANI - SBI PO

SBI CLERK FINAL SELECTION 2019
1) Piyush Trivedi

2017-08-08T11:05:00.000-07:00

IBPS CLERK (FINAL SELECTIONS) 2018-19

The following candidates have reported their success . Bargad aashram wishes them all the best in their career as Bankers.

1) Samiksha Gautam - Bank of Baroda
2) Harsh Rajdev - Bank of Baroda

Other selections
1) Akshay Shrivastava - Saraswat Co op bank Maharashtra
2) Suprita Bhawsar - Axis bank - Manipal route.

RRB PO (final selection) 2018-19
1) Ganesh Panchal PO NJGB
2) Poonam mittal PO NJGB
3) Pradip Mahawar PO NJGB
4) Gaurav Dhawan PO NJGB
NEW BATCHES
FREE BANK RECRUITMENT CLASSES       REGISTRATIONS ON 6th Jan 2019 Sunday

IBPS PO/Clerk batches registration and batch allotment
                  on 6th January Sunday 3 to 5 pm
                                                     VENUE
at C-44/8 Bargad Ashram, Rishinagar Extension,
(On way to Bachpan school) Ujjain

   ONE TIME ARRANGMENT FEE OF Rs.100/- IS PAYBLE ON REGISTRATION

REGULAR FULL TERM THREE MONTHS BATCHES

Sr.No.         Start date           duration       timings

1             07/01/2019 Three to four months       Evening 3.00 to 5.00 pm    Full term batch *
* This batch will be merged with 5 to 7 batch , if sufficient candidates are not available.

2              07/01/2019 Three to four months       Evening 5.00 to 7.00 pm Full term batch

Note :- Only for those candidates, who have sent their names earlier and received our SMS for registration. No new candidate will be entertained.
The candidates may send their friends/relatives for registration if they are unable to come at the given date and time .

RRB PO Mains cleared (Next phase - Interview )
1) Nitesh parmar
2) Ganesh panchal
3) Poonam mittal

State Bank of India PO Mains
1) Suyash Sharma - Appeared for interview.

State Bank of india Clerk - 2018
1) Suyash Sharma -Finally selected.
2) Pradip Mahawar - Finally selected

District Cooperative Bank result 2017- 18

1) Priyanka Sharma DCB Ujjain
2) Harshita Shere DCB Ujjain
3) Harshali Sharma DCB Shajapur
4) Vaishali Dhakite DCB Shajapur
5) DCB Rewa

Bank of Baroda Manipal PO
1) Rupali Athle - Posted in Bank of Baroda

ALL RESULTS FOR THE YEAR ENDING MARCH 2018 DECLARED.
FOLLOWING CANDIDATES HAVE REPORTED THEIR SUCCESS.

IBPS CLERK
1) Kuldeep Singh Raghuvanshi - Bank of India
2) Aparna chorey - Bank of India
3) Sadhana Ahuja - Bank of Baroda
4) Nishant kamlekar - Central Bank of India (Also cleared Syndicate bank Manipal PO exam)

RRB PO
1) Pooja Porwal - NJGB
2) Kuldeep Singh Raghuvanshi - NJGB
3) Vandana Sijoria - NJGB
4) Antariksh Pal - Reserve list PO
5) Vaishali Dhakite - Reserve list.
6) Gaurav Dhawan - Reserve list
7) Sheela panchal - Reserve list.

FREE BANK RECRUITMENT CLASSES       REGISTRATIONS ON 5th Jan 18

IBPS PO/Clerk batches registration and batch allotment
                  on 5th January 3 to 6 pm
                                                     VENUE
at C-44/8 Bargad Ashram, Rishinagar Extension,
(On way to Bachpan school) Ujjain

   ONE TIME ARRANGMENT FEE OF Rs.100/- IS PAYBLE ON REGISTRATION

REGULAR FULL TERM THREE MONTHS BATCHES

Sr.No.         Start date           duration       timings

1             08/01/2018          Three months       Evening 3.00 to 5.00 pm    Full term batch

2              08/01/2018          Three months       Evening 5.30 to 7.30 pm           Full term batch

Advance classes from 15th January 2018

Note :- Only for those candidates, who have sent their names earlier and received our SMS for registration. No new candidate will be entertained.
The candidates may send their friends/relatives for registration if they are unable to come at the given date and time .

IBPS PO MAIN EXAM RESULT DECLARED

2016-11-21T18:53:00.001-08:00

GOD IS GREAT BUT HE COULD HAVE BEEN GREATER BY ACCOMMODATING FEW MORE DESERVING CANDIDATES
IBPS PO /CLERK FINAL SELECTIONS
Following students have reported their final selection in PSBs for the year 2016-17.

IBPS PO
1) Rahul Malviya - Union bank
2) Sunny Koshi - Union Bank
3) Shubham chaudhry - Bank of Maharashtra
4) Mohit Tahilramani - Viaya Bank
5) Himanshu Shakya - Canara Bank

IBPS- Clerk
1) Vinay Yadav - Bank of india
2) Shubham choudhry - Bank of India
3) Dheeraj Kapoor - Bank of india
4) Sapna sharma - Bank of india
5) Himanshu Shakya - Bank of india
6) Shraddha Fagre - Bank of india
7) Khushboo Khan - Bank of india
8) Anand Barha - Bank of india
9) Vishwana Dixit - Bank of India
10) Vineet nag - last year's reserve list -
11) Udit Bhatt - Canara Bank

REGIONAL RURAL BANKS FINAL SELECTION RESULT DECLARED.
Following students have reported their final selection in RRBs year 2016-17.

RRB PO
1) Rahul Malviya - RRB PO - Narmada Jhabua Kshetriya Gramin bank.
2) Sapna Sharma - RRB PO - Narmada Jhabua Kshetriya Gramin bank.
3) Udit Bhatt - RRB PO - Narmada Jhabua Kshetriya Gramin bank.
4) Antariksh Pal - RRB- PO (Reserve list)

RRB Clerk
1) Chanchal Barha - RRB-Clerk - Madhyanchal Gramin Bank
2) Vandana Sijoria - RRB Clerk - Madhyanchal Gramin Bank.
3) Khushbu Tanwar - RRB Clerk - Narmada Jhabua Kshetriya Gramin bank.
4) Shubham Choudhary - RRB Clerk - Narmada Jhabua Kshetriya Gramin bank.
5) Antariksh Pal - RRB Clerk - Narmada Jhabua Kshetriya Gramin bank.
6) Vinay Yadav- RRB Clerk - Narmada Jhabua Kshetriya Gramin bank.

Registration and batch allotment for new batches will be held at Bargad Ashram on 1st Jan 2017 Between 11am to 1pm.
New batches timings from 2nd Jan 2017 - Evening batch - 5.30 to 7.30 pm
Afternoon batch - 2.30pm to 4.30pm

Following students have reported their success in the main exam. Good luck to them for Interview.
1) Mohit Tahilramani ( Earlier selected as Junior Associate in SBI)
2) Shubham Choudhary
3) Rahul Malviya
4) Anand Barha
5) Samiksha Gautam
6) Shraddha Fagre.
8) Sapna Sharma.
9) Priyanka Sharma

GENERAL AWARENESS - IBPS PO

2016-06-23T04:52:00.000-07:00

GENERAL AWARENESS

( Date- Just before RRB PO Exam )

· IMPORT OF CRUDE OIL AND PETROLEUM PRODUCTS - Saudi Arabia tops the list with 19.1% followed by Iraq 18.3, Venezuela 11.5, Iran 11.3, Nigeria 8, UAE 7.7 .

· Valuewise our import has come down from 155.43 billion $ to 73.92 billion $ in 2015-16.

· OPEC Organisation of petroleum exporting countries. Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela

· Highlights of monetary policy review dated 7^th December. 1) RBI cuts growth estimate from 7.6 to 7.1% 2) No changes in repo rate and other policy rates . Incremental CRR to be withdrawn from 10^th December.

· Reasons given by RBI to keep the rates unchanged. 1) demonetization will lower inflation in short term but its impact will be temporary. 2) Inflation target for March 17 is 4% +_ 2 and current inflation is around 5%. 3) OPEC decision to cut production of crude oil may increase rates in near future. 3) strengthening of dollar , increase in Fed rate etc. will impact our rupee value.

· Incremental CRR, which was introduced from 26^th Nov. freezing all deposits received by banks after 16 sept. 2016 will be released back to banks from 10^th December 2016. Thereafter banks will have option to deposit this money under reverse repo or Market stabilization scheme. Banks will be free to explore options to deploy this money as loan/credit by lowering interest rates.

· Market stabilization scheme - MSS (Market Stabilisation Scheme) securities are issued with the objective of providing the RBI with a stock of securities with which it can intervene in the market for managing liquidity. These securities are issued not to meet the government's expenditure. The MSS scheme was launched in April 2004.

· Looking to exceptional amount of liquidity brought in the banking system on account of demonetization, Govt. has permitted RBI to issue MSS securities worth 6 lakh crore. The earlier limit was only 30 thousand crore.

· Justice Jagdish singh Khehar appointed Chief justice of India succeeding Shri T S Thakur. First Sikh to become CJI.

· Prime minister of Italy Matteo Renzf resigns after a referendum.

· O paneerselvam took the oath of Chief minister of Tamilnadu after the death of J jailalitha .

· India lifts Asia cup in women’s cricket , sixth times in a row. Defeated Pakistan by 17 runs in Asia cup final in Bankok. Mithali raj was player of the match and series.

· Heart of Asia conference organized in Amritsar.

NPCI

NATIONAL PAYMENT CORPORATION OF INDIA

· Setup in 2008 and started functioning in April 2009. It is an umbrella organization for all retail payments system in India. The objective was to facilitate an affordable payment mechanism to benefit the common man across the country and help financial inclusion.

· Product and services

1) National Financial switch.- It is the interconnected network for interbank ATM transactions , on which IMPS and UPI transactions are also carried out.

2) Unified Payment Interface.

3) Immediate payment system.

4) *99# services on USSD platform.

5) National Automated clearing house NACH

6) Cheque truncation system.

7) Aadhaar enabled payment systems AEPS

8) Rupay

9) Bharat Bill Payment System.

· Electronic payment systems presently working in India. 1) RTGS 2) NEFT 3)CTS 4) IMPS 5) NACH 6)UPI 7) USSD 8) Debit/Credit cards at POS-Point if Sale. 9) PPI Prepaid instruments like prepaid cards, wallets etc. 10) Mobile banking.

· UPI – Improved version of IMPS. Person to person as well as person to merchant transactions. No need to share account no., Mobile no. , MMID or IFS Code with others. You need to set a nickname or unique virtual ID to your account and your account will then be identified through that nick name for money transfer. Virtual ID or nickname is directly linked to your bank account. It can not be liked to an e-wallet. Apart from virtual ID, money transfer through other means like Account no.+ IFSC, Mobile no.+mmid, Adhar no. will also be available in UPI.

GENERAL AWARENESS

----------------------------------

· Rebooting India (Penguin), by Nandan Nilekani , co-authored with Viral Shah.

India is 4^th largest user of cash in the world. In the period 2010-11, the RBI spent nearly Rs 24 billion on printing money, and an additional Rs 455 million on distributing that money nationwide. .

· The End of Money – by journalist David Wolman.

NO country in the world is fully cash less however Belgium has the highest proportion of cashless transactions in the world with 93 percent cashless transactions, followed by France -92 %, Canada 90, UK 89, Sweden-89, Australia 86, Netherlands 85, US 80, Germany 76, South Korea 70, INDIA- 40%

· No full stops in India - latest book by Mark tully former bureau chief of BBC India.

· Cashless methods in India . Cheques, IMPS, UPI(Unified Payment interface) , Mobile Banking, M-wallet, PPI(Pre Paid Instruments), EFT/NEFT, Debit card, Credit cards, RTGS.

· Earlier demonitisations - The first was when Rs1,000, Rs5,000, and Rs10,000 notes were taken out of circulation in January 1946(Before independence). All three notes were reintroduced in 1954. Then under the prime ministership of Morarji Desai The High Denomination Bank Notes (Demonetisation) Act, on Jan. 16, 1978, deemed the Rs1,000, Rs5,000 and Rs10,000 notes illegal for the second time.

· Prime minister laid the foundation stone of Goa Greenfield (new) international airport on 13.Nov 2016. Minister of civil aviation – P Ashok Gajapathi Raju, Minister of state civil aviation, Jayant sinha, Goa CM Laxmikant Parsekar.

· EASE OF DOING BUSINESS RANKING – INDIA and INDIAN STATES

· India's rank in the recently released global Doing Business rankings was a lowly 130th, just one rank up from the previous year's 'revised' ranking of 131st. Prime Minister Modi is keen to ensure that India finds a place in the top 50 countries within a year or two.

· Andhra Pradesh and Telengana have jointly topped the 2016 all-India State/Union Territory-wise Ease of Doing Business rankings, while last-year's topper Gujarat slipped to the third spot. The Bank, along with the Centre's Department of Industrial Policy & Promotion (DIPP) was involved in the process of reviewing the evidence submitted by states/UTs regarding implementation of reforms for the rankings.

· 14^th Nov. World Diabetes day. And Children’s day.

· Impact of demonetization of notes in India – 1) The withdrawal of Rs500 and Rs1,000 notes could bring down inflation as some money goes out of circulation, and pull down economic growth in the short term. 2) Bank deposits will increase (specially CASA), this will bring excess liquidity in the banking system and banks will be forced to bring down deposits as well as loan interest rates. 3) deflationary trend will help RBI to bring down Repo rate, we will head towards low interest economy. 4) Economic growth rate will come down in the short term 5) Some parts of the currency gets permanently immobilised as a result of demonetization means will never come back to the system. So RBI liability in respect of currency will come down. 6) Certain sector which had a role of black money like real estate, automobiles, jewellery etc. will be badly hit. 7) Tax compliance will improve, which will increase Govt’s revenue, hence govt. will have more money to expend. 8) counterfeit notes will be eliminated and terrorist activities will be severely hit. 9) It will pave the way for clean and fair elections. Role of black money in elections will be reduced significantly. 10) Big boost to cashless economy , digital payments, e-wallets and credit debit cards.

· Who has the authority to withdraw currency notes in India . Central govt. on the recommendation of Reserve bank of India can declare a currency or part of currency as not legal tender, under section 26(2) of RBI act. RBI can only recommend it. Public notice issued by RBI in leading news paper said “ Government of India vide their notification no. 2652 dated nov.8 2016 have with drawn the legal tender status of RS. 500 and 1000 denominations of bank notes of the mahatma Gandhi series issued by th Reserve Bank of India till Nov. 8 2016. Hence Authority rests with Govt. of India.

· Three main reasons cited for withdrawal of currency- 1) to tackle the menace of counterfeit currency 2) to nullify black money hoarded in cash. 3) To curb funding of terrorism through fake and black money.

· Features of 2000 and 500 new notes Mahatma Gandhi series - Mangalyaan on 2000 and red fort on 500 note. Color Magenta -2000 and stone grey -500. 7 angular bleed lines on 2000 and 5 angular bleed lines on 500 both sides. Swachcha bharat logo , Number small to bigger size. Security thread changing colors from green to blue when tilted.

· How American economy will affect India. – American economy has shown a revival trend for quite some time. Economic growth and activities has increased. Federal reserve is seriously contemplating interest rate increase (similar to repo rate in India) for quite some time. Under trump administration, public expenditure is expected to increase so more borrowing by the govt through bonds. Bonds yield has increased. More expenditure by govt means more money in the economy. This will increase economic activities and spur inflationary trend. Anticipating this, investors have already started withdrawing funds from emerging market countries including India . this outflow has brought the sensex down and rupee is weakening against dollar.

· What is bond yield. - A bond yield is the amount of return an investor realizes on a bond. A bond's current yield, also called "bond yield," is the interest it pays annually divided by the bond's price. When bonds prices in secondary market gets reduced either because of increase in interest rate in economy or possibility of increase in Govt. borrowing then bond yield increases . In America both these factors are at work.

· Currency in circulation in India. Currently Rs 17,54,000 crore worth of notes are in circulation according to the RBI’s database on the Indian economy. Of this Rs 500 notes constituted almost 45% of the currency in circulation while 39% of the notes were of the Rs 1,000 denomination. In value terms. Hence 86% of currency by value in India are of Rs 500 & Rs 1,000 denominations. According to the RBI press conference today, there are 16.5 billion ‘500-Rupee’notes and 6.7 billion ‘1000-rupee’ notes in circulation.

· S4A- Scheme for sustainable structuring of stressed asset. It is restructuring large ticket loans where the project is up and running. Here the lenders are required to separate a sustainable loan from an unsustainable loan. The bank would convert the unsustainable debt into equity or equity related instruments. What are the pre-conditions to be eligible for the scheme
The aggregate exposure of all lenders to the company should be more than Rs 500 crore.
The project should have commenced operations
An external consultant should endorse it as a viable project . How does RBI define sustainable debt?
Simply put, the portion of the loan that can be serviced through the existing cash flow is defined as sustainable debt. RBI has said that sustainable loan should be at least 50% or more of the unsustainable debt. The loan can be approved for S4A only if the Overseeing Committee endorses it.

· Prime minister Shri Narendra Modi visits japan . Prime minister of Japan Shinjo Abe. Highlights – 1) Civil nuclear agreement – India will get nuclear fuel and technology to start new civil nuclear energy projects. this deal makes India the first non-NPT signatory to ink a nuclear pact with Japan. India first conducted nuclear tests in 1974 which was code named 'Smiling Buddha'. A series of nuclear tests were conducted again in 1998 known as the Pokhran-II. The Indian PM, accompanied by Shinzo Abe, traveled to Kobe by the Shinkansen bullet train. The same technology will be deployed for the Mumbai-Ahmedabad High-Speed Railway.

GST . Union Govt proposes 4 GST slabs. The Union Govt has proposed a four-slab rate structure for the new indirect tax regime i.e. Goods & Services Tax (GST) ranging from 0 to 26 per cent. It was proposed at the meeting of the GST Council headed by Union Finance Minister Arun Jaitley and included representatives from all states in New Delhi. The GST is proposed to be levied at 6% (lower rate), 12% (Standard 1 rate), 18% (Standard 2 rate) and 26% (Higher rates) on the goods and services. It will be 0% on host of goods and services, including food, health and education services, and 26% on luxury items, such as fast-moving consumer goods and consumer durables.

The Constitution (One Hundred and Twenty-second Amendment) Bill, 2016, for introduction of Goods and Services Tax (GST) in the country was accorded assent by the President on 8^th September, 2016, As per Article 279A of the amended Constitution, the GST Council will be a joint forum of the Centre and the States. This Council shall consist of the following members namely: -

a) Union Finance Minister... Chairperson

b) The Union Minister of State, in-charge of Revenue of finance... Member

c) The Minister In-charge of finance or taxation or any other Minister nominated by each State Government... Members.

The Goods and Services Tax (GST) Council is chaired by the Union Finance Minister and has Minister of State in charge of revenue and state finance ministers as members.

Interestingly, every decision of the GST council needs to be taken with a three-fourth majority. While the central government’s vote will have a one-third weightage, the votes of all the state governments put together will have a two-third weightage, thus making a near-consensus between the centre and the states an imperative for any major decision. The GST will subsume most of the indirect taxes of the centre and the states including excise duty, service tax, value-added tax, entertainment tax, luxury tax and octroi.

· Typhoon Megi Hits Taiwan., BRICS to set up credit rating agency.

· India, Russia sign 16 agreements across diverse sectors. Prime Minister Narendra Modi and Russian President Vladimir Putin during the 17th India-Russia Annual Bilateral Summit in Goa. 1. Agreement on cooperation in International Information Security.“2. MoU for expansion of bilateral trade and economic cooperation.“3. Shareholder agreement for establishing a Joint Venture to manufacture Ka-226T helicopter in India.“4. MoU for developing smart cities in Andhra Pradesh and Haryana.“5. MoU for setting up an investment fund of $1 billion by the National Investment and Infrastructure Fund (NIIF) and the Russian Direct Investment Fund (RDIF).”

· India, US Joint Military Training Exercise Yudh Abhyas 2016 concludes.

· India, Russia begin joint military exercise in Vladivostok. The 8th edition of the Indo-Russia joint military exercise ‘Indra 2016’ was flagged off in Vladivostok in Russia. Interestingly though, Russian troops arrived in Pakistan the same day for the first-ever Pakistan-Russia joint military exercise dubbed “Friendship-2016″.

· PM Narendra Modi inaugurates Shaurya Smarak in Bhopal.

· Nation world’s largest solar power plant in TN. Adani Green Energy (Tamil Nadu) Ltd, part of the Adani Group has dedicated to the nation the world’s largest solar power plant of 648 megawatts (MW), set up at Kamuthi in Ramanathapuram district of Tamil Nadu.

· Irom Sharmila announces formation of political party named PRJA.Human rights activist Irom Sharmila announced the formation of her political party named Peoples Resurgence and Justice Alliance (PRJA).

· Gurgaon officially renamed Gurugram. Telangana Govt creates 21 new districts 21+10 old.

· Delhi’s Race Course Road renamed as Lok Kalyan Marg.

· 8th BRICS Summit concludes in Goa. The eighth BRICS summit was held in Goa from 15 to16 October 2016. The summit concluded with adaptation of Goa Declaration. The two day summit was attended by the Prime Minister Narendra Modi, Chinese President Xi Jinping, Russian President Vladimir Putin, Brazilian President Michel Temer and South African President Jacob Zuma. The theme for the summit was “Building Responsive, Inclusive and Collective Solutions”. The ninth BRICS Summit will be hosted by China in 2017.

· Bob Dylan wins 2016 Nobel prize in literature. The 2016 Nobel Prize in Literature has been awarded to American singer-songwriter Bob Dylan, for “having created new poetic expressions within the great American song tradition”. Dylan, 75, has won numerous awards, including twelve Grammys and one Academy Award.

· Nobel Peace Prize awarded to Colombian President Juan Manuel Santos. The Nobel Peace Prize for 2016 has been awarded to Co-lombian President Juan Manuel Santos for his efforts to end his country’s 50-year civil war.

· Three win Nobel chemistry prize for molecular machines. Frenchman Jean-Pierre Sauvage, British born J Fraser Stoddart and Dutch scientist Bernard Feringa on 5th Oct won the Nobel Prize in chemistry for developing molecular machines.

· Thouless, Haldane & Kosterlitz win the 2016 Nobel Prize in Physics. “for theoretical discoveries of topological phase transitions and topological phases of matter.”

· Nobel Prize in Medicine awarded to Yoshinori Ohsumi. The 2016 Nobel Prize in Physiology or Medicine has been awarded to Yoshinori Ohsumi “for his discoveries of mechanisms for autophagy.”

· In the First, Bank deposits cross Rs 100 lakh crore. According to the data first time ever in September month of this year. With demand deposits crossing Rs10 lakh crore and time deposits crossing the Rs 90 lakh crore mark..

· Forex reserves touch record high of $372 billion.

· IMF revises India’s economic growth upwards to 7.6% for FY17 and 18.

· ISRO successfully launches 8 satellites into two different orbits. Among the eight satellites launched, three satellites were from India, three from Algeria and one each from Canada and United States.

· Woman wrestler Geeta Phogat appointed DSP in Haryana Police.

· Antonio Guterres appointed UN Secretary-GeneralPortugal’s former Prime Minister Antonio Guterres was on 13 October appointed as the next Secretary-General of the United Nations by the General Assembly. The 193 member states of the General Assembly adopted the resolution by acclamation, appointing 67-year-old Mr. Guterres as the ninth U.N. Secretary-General to take over from Ban Ki-moon, whose tenure will end on December 31, 2016. Mr. Guterres, who was Prime Minister of Portugal from 1995 to 2002, and the U.N. High Commissioner for Refugees from June 2005 to December 2015, will assume his new role on January 1, 2017 for a five-year term that can be renewed by member states for an additional five years.

· Jim Yong Kim re-appointed as World Bank President. Jim Yong Kim has been re-appointed as President of World Bank for a second five-year term beginning 1 July 2017.

· Abu Dhabi Crown Prince to be Chief Guest on 2017 Republic Day. The crown prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan will be the chief guest for the 68th Republic Day celebrations on 26 January 2017. Earlier Chief guests of Republic Day parades: 2016- Francois Hollande (French President), 2015-Barack Obama (US President), 2014- Shinzo Abe (Japanese Prime Minister), 2013- Jigme Khesar Namgyel Wangchuck (King of Bhutan), 2012- Yingluck Shinawatra (Then Prime Minister of Thailand), 2011- Susilo Bambang Yudhoyono (Then President of Indonesia). It should be noted France holds distinction of being the guest of honour for the maximum five times of Indian Republic Day parade followed by Bhutan (four times); Mauritius and Russia (three times each).

· World’s largest radio telescope built in China. China has built world’s largest radio telescope nicknamed Tianyan (Heavenly Eye” or “The Eye of Heaven) or the five-hundred-metre aperture spherical radio telescope (FAST).

· Book President Pranab Mukherjee and Prime Minister Narendra Modi has launched Vice President Mohd Hamid Ansari’s book titled “Citizen and Society”

· Neeti aayog index 2016- Agriculture marketing and farmer friendly reforms index . Maharashtra adjudged most farmer friendly state in the country as per neeti aayog index.

· HDFC RAISED 500 crore through MASALA Bonds. The masala bonds are instruments throudh Indian entities can raise funds by accessing overseas capital markets in rupee denominations.

· SBI offers loans at MCLR rates to new customers in the brand name of Hope loan.

· Banking data theft of ATM card was reported in India affecting nearly 32 lakhs customers of five leading banks SBI, AXIS,ICICI, HDFC and YES bank. Banks are either changing ATM cards or asking customer to change their PIN immediately.

· UDAN – Ude desh ka aam nagrik . Low cost flights for regional connectivity. Maximum price capped at 2500/-.

· RBI rates as per monetary policy review 4^th oct. Repo rate cut by .25%. Now REPO rate is 6.25% , Reverse repo -5.75, Bank rate and MSF 6.75 , CRR – 4%, SLR 20.75.

MONETARY POLICY COMMITTEE – MEMBERS . The three are academics (Nominated by Govt. of India)— Chetan Ghate, associate professor at Indian Statistical Institute; Pami Dua, director, Delhi School of Economics; and Ravindra H Dholakia, professor of economics at Indian Institute of Management (IIM), Ahmedabad. They will be joined by three Reserve Bank members, making up a total of six, with Governor Urjit Patel having a casting vote. The other two members are R Gandhi, deputy governor in charge of monetary policy, and executive director Michael Patra.

DIWALI HOLIDAYS NOTICE
ALL BATCHES WILL REMAIN CLOSED FROM 26th Oct 2016 to 1st Nov. 2016 on account of Diwali festival. HAPPY DIWALI
Dussera holiday notice
Evening batch including english session will remain closed on 11th Oct 2016.
Morning batch will remain closed on 12th Oct.2016.

Preference for RRBs in MP

Narmada Jhabua Gramin Bank

Bank of India

Indore

2	Central Madhya Pradesh Gramin bank	Central bank of India	Chhindwara	MP
3	Madhyanchal Gramin Bank	State Bank of India	Saugar	MP

15th Sept 2016 observed holiday being Ganesh visarjan day / Anant chaturdashi . These sessions will now be held on 17th Sept Saturday.

New batch announcement : 1st Sept.
IBPS CLERK Regular batches Morning 7 to 9 am and Evening 5 to 7 pm starting on 1st Sept 2016. Registration and batch allotment on 30th August, evening 5 to 7 pm at Bargad Aashram.

EXTRA SESSIONS CANCELLED
EXTRA SESSIONS SCHEDULED ON SATURDAY 20th Aug. AND SUNDAY21st Aug. STANDS CANCELLED ON ACCOUNT OF INCESSANT RAINS.

15th August will be Holiday, students please note.
18th August (Rakhee) will be a Holiday. instead extra classes on Saturday at the same class time.

IBPS PO Special afternoon batch starting 8th Aug, Monday 2 to 4 pm at bargad ashram C-44/8 Rishinagar Extension. batch Only for PO Applicants

LATEST GK UP TO 22 JUNE

· ISRO PSLV C-34 Rocket loaded record 20 satellites in to different orbits in one launch from sriharikota. 17 foreign satellites , Name of Indian satellite CARTOSAT-2C plus two small satellite prepared by Indian students.

· Russia has record of 33 sat in one launch and NASA has sent 29 in 2013.

· ISRO Chairman – A S Kirankumar .

· 6000 crore package for textile and apparel industry with labour reforms aimed at creating one crore jobs in the sector. . 8 hours / week overtime allowed. Fixed term employment allowed with employee like benefits.

· Fund of funds for Startups FFS approved for 10000 crore . Fund will be under SIDBI and will help those funds , which invest in startups.

· Mega spectrum sell to yield 5.66 lakh crore.

21^st June 2016 – International Yoga Day and World music day celebrated together. , 177 countries supported UN resolution for yoga day last year. date of June 21, as it is the longest day of the year in the Northern Hemisphere. 2016 Theme: “Connect the Youth”. Maharishi Patanjali is considered as the ‘father of Yoga’. He mentioned eight sutras named ashtang yoga.
Ajit jogi forms new regional party- Chhattisgarh Janata Congress (Jogi).

· Bibek Debroy panel suggests “ no separate railway budget “ needed, should be integrated in Financial Budget.

· Nikesh Arora, President and COO of Softbank group ( telecom and investment company of Japan) quits. Masayoshi son was founder and CEO of this company.

· Brexit :- 1) Brexit vote on 23^rd June 2) British MP Jo Cox murdered, She was EU camp supporter. 3) Conservative party prime minister David Cameroon support continuance in EU for economic reasons. 4) UK currency – Pound Sterling. (not accepted Euro as currency). 5) UK has four countries England, Scotland, wales and Northern Ireland. 6) UK joined EEC European economic community, which became European union later on , on 1 jan 1973.

· European Union – 28 member countries. Capital / Headquarters – Brussels , In 2012, the EU was awarded the Nobel Peace Prize.

· Documents valid as identity proof and address proof both. – Aadhar card, voter id, passport, NREGA job card, Driving license.

· Russian tennis star Maria Sharapova, received a two-year ban for doping.

· Nuclear Suppliers Group (NSG) is a group of nuclear supplier countries that seek to prevent nuclear proliferation by controlling the export of materials, equipment and technology that can be used to manufacture nuclear weapons.

· NSG members meeting in SEOUL – south korea on 24^th. Total members – 48 Current chair is with Argentina.

· NPT – Nuclear Non proliferation Treaty.

· FDI Changes notified on 20 june 2016 Monday. –

Sector	Existing limit	Revised limit	Other conditions
Airlines	49% NRI -100%	100%	Foreign airlines even now can invest up to 49% only but remaining 51% can come from foreign investor or company not engaged in the business of Airlines.
Food retail Includes through e-commerce	Not allowed	100%	Can only sell food produced , processed and manufactured locally after taking permission from FIPB.
Single brand retail	100%	100%	30% local purchase norms relaxed for 3 years for all and for next 5 more years for specialized products , which can not be manufactured locally.
Defence – Manufacturing of small arms and ammunition.	100% - 49% automatic route , rest by Govt. approval	100% same	“State of the art technology “*, condition for govt. approval is replaced by modern technology .
Private security agencies	49%	74%
Pharma sector – in old companies also called brownfield investment	100% via approval route	100% -74% automatic route	It has been decided to permit up to 74 per cent FDI under automatic route in brownfield projects and approval route beyond that
Pharma sector – New companies / plants also called Greenfield projects.	100% via approval	100% full automatic route
DTH Services , cable networks , Mobile TV	100%	100%	No govt approval needed except in ownership changes.

Prohibited list

FDI continues to be prohibited in lottery, gambling, atomic energy, real estate investment trusts (ReIT), and railway operations.

State-of-the-art definition, the latest and most sophisticated or advanced stage of a technology, art, or science.

· World Super computers – China bags fastest supercomputer title – continuously for 7^th year.

Name of computer	Rank	Country	Speed
The Sunway TaihuLight	1	China	93000 trillion calculation / second. First time used Chinese processor
Tianhe-2	2	China	Last year’s winner, 33000 trillion/second, intel processor
Titan		USA

Top 5 supercomputers India 1) SAHASRA T (A3)merican CRAY series) IISC Banglore, 2) ADITYA (IBM) – Indian Institute of Tropical Meteorology 3) CRAY XC-30 at TIFR 4) HP-Proliant IIT Delhi 5) PARAM Yuva-2 CDAC Pune. Their ranks in TOP 500 of the world in 2015 was 96, 119, 145, 166, 251.

· Small savings Post office deposits rates unchanged in its quarterly review in mid June. PPF continues with 8.1%. Normal PPF maturity period is 15 years but now can be withdrawn after 5 years if expenses are needed for higher education or medical emergency.

· Second route Delhi – Varanasi for Bullet train announced , to cover 782 km in 2 h 40 m via Lucknow. It will be extended up to kollata in future. First route is Mumbai Ahmedabad to be funded by Japan.

· India and Pakistan were accepted as full members of the Shanghai Cooperation Organisation (SCO) ON 10 July 2015. The Beijing-based SCO currently has China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan as members.

· SCO meet scheduled on 23 june in Tashkent , capital of Uzbekistan . Prime minister Shri Narendra modi to attend. Pakistan will be represented by President Mamnoon Hussain. Chinese president Xi Zin ping , Russian president – Vladimir Putin .

· PNB logged highest loss of 5367 crore in last quarter of FY 16 followed by BOI, BOB ,Syndicate bank.

· 19 june Fathers day.

· Virginia Raggi (38) was elected as first female mayor of capital city Rome.

· 20 June – World Refugee day.

Niko Roseberg wins European Grand prix . First Position: Nico Rosberg (Germany) of Mercedes team. Second Position: Sebastian Vettel (Germany) of Ferrari team.
Australia has won the 2016 Champions Trophy title of Hockey by defeating India by 3-1 score.
State Bank of India (SBI) has launched IT Innovation Start-up Fund to support start-ups in the financial technology (fintech) space.
The Union Ministry of AYUSH Ministry has released a Yog Geet (Yoga song) for celebrating the second International Yoga Day on 21 June 2016. Selected through a nationwide competition song was written by shri Dheeraj Saraswat and composed by sumant ray. Selection committee chairman Dr H R Nagendra.
The Indian Air Force (IAF) created history by inducting 3 women fighter pilots for first time. These three women fighter pilots are Bhawana Kanth, Avani Chatuvedi and Mohana Singh.
India and South Korea have launched a platform ‘Korea Plus’ to promote and facilitate Korean Investments in India.
Microsoft is going to design mobile application for Union Human Resources Development (HRD) Ministry’s SWAYAM platform. Under this platform ministry is going to launch 2000 Massive Open Online Courses (MOOC) for over three crore students in the year 2016.
Rajasva Gyan Sangam, a two-day Annual Conference of Senior Tax Administrators in New Delhi. Narendra Modi gave RAPID, five-point mantra to tax officials to reform and broaden the direct tax net base. RAPID means R for Revenue, A for Accountability, P for Probity, I for Information and D for Digitization.
Sunil Bharti Mittal has been elected chairman of the International Chambers of Commerce. ICC is the world’s largest business organisation that was founded in 1919. Headquarters: Paris, France.
Hollywood actress Anne Hathaway was named as the Global Goodwill Ambassador for UN Women. The UN Women also known as the United Nations Entity for Gender Equality and the Empowerment of Women nodal UN agency for promoting gender equality and the empowerment of women. It became operational in January 2011.
Cabinet approves SBI associate banks and BMB merger with SBI. With this it will graduate to top 50 banks in the world. Business will increase to 37 lakh crore.
Fijian diplomat Peter Thomson has been elected as President of 71st session of United Nations General Assembly (UNGA). Vijaya Lakshmi Pandit was first and only Indian to serve as President of UNGA in 1953. She was also the first woman President of UNGA.
Renowned Hindi novelist and critique Mudrarakshas passed away due to old age related causes in Lucknow, Uttar Pradesh. Original name was Subhash Chandra .
The World Blood Donor Day is being observed across the world on 14 June to raise the public awareness about the need for safe blood donation. 2016 host country is Netherlands .
Canada grand prix – winner lewis hemilton (Mercedes) second vettle of Ferrari .
The International Union of Pure and Applied Chemistry (IUPAC) has announced four proposed names for the four new elements that were added in periodic table in January 2016. These new elements are Nihonium (Nh), Moscovium (Mc), Tennessine (Ts), and Oganesson (Og).
The markets regulator SEBI has put in place a stricter KYC norms and disclosure rules for Participatory Notes (P-Notes). P-Notes are offshore/overseas derivative instruments (ODIs) issued by registered foreign institutional investors (FII) to overseas investors.
Indian American author Akhil Sharma won the prestigious 2016 International Dublin Literary Award for his semi-autobiographical novel “Family Life.”
Saina Nehwal has won the 2016 Australian Open Super Series Badminton tournament title in women’s singles category. Hans-Kristian Vittinghus from Denmark won the Australian Open Badminton Super series title in the men’s singles category.
Distinguished journalist, editor and author Inder Malhotra passed away. He had served as a resident editor of The Times of India and The Statesman. he authored Indira Gandhi: A Personal and Political Biography.
India, Japan and United States (US) navies have kicked off 2016 MALABAR trilateral naval Exercise near South China Sea.
President Pranab Mukherjee had constituted the 21st Law Commission of India in September 2015. Retired Judge of the Supreme Court Justice B S Chauhan was appointed as its Chairman. The first commission was constituted in 1955 and since then various commissions were re-constituted every three years.
Champaran Satyagrah Express train has been introduced to mark 100 years of the historic Champaran Satyagraha (movement) launched by Mahatma Gandhi in 1917.
Google Inc and Tata Trusts have jointly launched ‘Internet Saathi’ program in Purulia district of West Bengal. The initiative has been launched as part of Google’s ‘Helping Women Get Online’ campaign, in order to create awareness about the benefits of Internet among women in rural India.
The National Investment and Infrastructure Fund (NIIF) has signed a MoU with Qatar Investment Authority (QIA) for facilitating investment in India’s infrastructure. National Investment and Infrastructure Fund: It is India’s first 40,000-crore rupees sovereign wealth fund, aimed to attract investment in infrastructure sector development in commercially viable projects, both brownfield and greenfield including stalled projects.
GREEN BOND -Axis Bank has launched India’s first internationally-listed certified green bond to finance climate change solutions around the world at London Stock Exchange (LSE). The proceeds of the bond will be invested by Axis Bank in green energy, transportation and infrastructure projects. It will play important role in reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.
Russia has honoured UN Secretary-General Ban Ki-moon with Order of Friendship Award.
India has surpassed Japan to become the world’s third-largest oil consumer. With demand of 4.1 million barrels a day (bpd), India is the third-largest consumer behindthe United States (19.39 million bpd) and China (11.96 million bpd).
The United States has recognised India as a major defence partner which will pave way to bring it closest US allies for defence related trade and technology transfer.
PM Narendra Modi became the fifth Indian Prime Minister to address a joint meeting of Congress, and the first since 2005. Earlier, Prime Ministers Rajiv Gandhi (July 13, 1985), P V Narasimha Rao (May 18, 1994), Atal Bihari Vajpayee (September 14, 2000) and Manmohan Singh (July 19, 2005) had addressed the joint meeting of the US Congress.
The Reserve Bank of India (RBI) in its second bi-monthly monetary policy review on 7^th June for year 2016-17 has maintained status quo in key policy interest rate. Key Rates are Policy Rates Repo rate under the liquidity adjustment facility (LAF): unchanged at 6.50 per cent. Reverse repo rate under the LAF: unchanged at 6.0 per cent. Marginal standing facility (MSF) rate: 7.00 per cent. Reserve Ratios Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL). Statutory Liquidity Ratio (SLR): Unchanged at 21.25 per cent. Other forecast Growth forecast: pegged at 7.6% for the current fiscal. Inflation target: It was kept unchanged at 5% for January 2017 with upward bias.
Govt. decides to form a new battalion in the name of Maharana Pratap .
The Junior hockey World Cup would be held from 8th to 18th December 2016 in Lucknow India.
World Environment Day (WED) is observed on 5 June 2016 Theme: Go Wild for Life (Zero tolerance for the illegal trade in wildlife). Host country – Angola. To mark this day Union Railway Minister Suresh Prabhu flagged off Tiger Express from Safdarjung station, New Delhi. It is a semi-luxury tourist train launched with an aim to spread awareness among people on tiger conservation.
India and Qatar have signed seven bilateral agreements in various fields in presence of Prime Minister Narendra Modi and Qatar Emir Tamim Bin Hamad Al Thani in Doha. It was PM Narendra Modi’s second stop to Qatar after he had visited to Afghanistan as part of his five- nation tour which will also take him to Switzerland, US and Mexico.
Prime Minister Narendra Modi and Afghanistan President Ashraf Ghani jointly inaugurated the Afghan-India Friendship Dam in Herat province in Western Afghanistan. Dam was earlier known as Salma Dam.
Prime Minister Narendra Modi was conferred with Amir Amanullah Khan Award, the highest civilian honour of Afghanistan.
FRENCH OPEN World Number One tennis player Novak Djokovic from Serbia has won the 2016 French Open title in the men’s singles category. In the final match, Djokovic defeated Britain’s Andy Murray by 3-6, 6-1, 6-2, 6-4 score. It is his first French Open title and completed the career Grand Slam. It was Djokovic’s 12th major title and he became the first man since Rod Laver in 1969 to hold all four Grand Slams at once. Garbine Muguruza (Spain) won the Women’s singles title of 2016 French Open. In the final she defeated Serena Williams (United States). Mixed doubles Leander Paes (India) and Martina Hingis (Switzerland) won the Mixed doubles against Sania Mirza (India) and Ivan Dodig (Croatia) pair .
World boxing champion American Muhammad ali alias Casius clay passes away.
Nita Ambani, Founder and Chairperson of Reliance Foundation has been nominated as a candidate to be a new member of the International Olympic Committee (IOC).
The Union Cabinet has given its approval for setting up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts. It will have 100% Government of India (GOI) equity and shall be established with total expenditure of 800 Crore rupees.
Some of functions of Payments Bank: (i) It can hold a maximum balance of 1 lakh rupees per customer. (ii) It can an issue ATM/debit cards but not credit cards (iii) Offer payments and remittance services (iv) Deal in simple financial products like insurance products and mutual fund units. (v) It cannot undertake lending service.
Rahul Johri took charge as first ever chief executive officer (CEO) of the Board of Control for Cricket in India (BCCI) at its headquarters in Mumbai, Maharashtra. The appointment and creation of post of BCCI CEO was based on the lines of key recommendations of the three-member Justice RM Lodha Committee.
World No-Tobacco Day (WNTD) is observed every year across the world on 31 May.
Legendary Oscar winning Indian music composer A R Rahman was awarded Japan’s Fukuoka prize for the year 2016.
Admiral Sunil Lanba (58) took charge as Chief of the Naval Staff. He will be 23rd chief of Indian Navy and 21st as an Indian.
Union Ministry of Railways and PEC University of Technology Punjab have signed a Memorandum of Understanding (MoU) for setting up of Kalpana Chawla Chair on Geospatial Technology for Indian Railways at the University.
Sunrisers Hyderabad (SRH) has won the ninth edition of the Indian Premier League (IPL) beating Royal challengers Banglore at Chinnaswami stadium Banglore.
The International Day of United Nations Peacekeepers was observed on 29 May 2016 to honour the work of UN peacekeepers.
Indian author Aditi Krishnakumar has won the prestigious 2016 Scholastic Asian Book Award. She has won the award for her 32,000-word manuscript titled Codex: The Lost Treasure Of The Indus.
The Union Ministry of Railways has launched Rail Humsafar Saptaah, a week-long initiative to highlight significant achievements made by Indian Railways in all spheres. The Rail Humsafar Saptaah starting on 26th May 2016 will conclude on 1st June 2016.
Saudi Arabia’s Islamic Development Bank (IDB) has decided to open its first branch in India at Ahmedabad, Gujarat. This announcement comes as part of MoU signed between IDB and India’s EXIM Bank during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016 .
Six new IITs will come up at: Tirupati (Andhra Pradesh), Palakkad (Kerala), Dharwar (Karnataka), Bhilai (Chhattisgarh), Goa, Jammu (Jammu and Kashmir). ISM Dhanbad will also be given status of IIT.
The Union Ministry of Human Resource Development (HRD) has decided to launch ASMITA, a student tracking system programme. ASMITA is acronym for All School Monitoring Individual Tracing Analysis and shall be launched under Shala Asmita Yojana (SAY). SAY aims to track the educational journey of school students from Class I to Class XII across the 15 lakhs private and government schools in the country.
The Union Ministry of Urban Development has shortlisted 13 cities from 13 States/UTs in the list of second batch of Smart Cities Mission. In the first batch of Smart Cities Mission, 20 smart cities were announced in January 2016.
Routes 2 Roots, a Delhi-based Non-profit organization (NGO), has been awarded prestigious Inter-cultural Innovation Award 2016. The award was bestowed upon the NGO for their unique Student Exchange Program, which allowed children in schools from India and Pakistan to connect with each other. The award was given by United Nations Alliance of Civilizations (UNAOC) in Baku, Azerbaijan.
Renowned scientist S K Sharma was appointed the Chairman and Managing Director (CMD) of Nuclear Power Corporation of India Limited (NPCIL).

START UP INDIA , STAND UP INDIA INITIATIVES

Announced on 15 August , 2015 by Prime Minister Narendra Modi in his address to the nation from Red Fort.
Later on addressing the first conference of start-up entrepreneurs, Modi announced an action plan to boost such ventures. He announced a self-certification scheme in respect of nine labour and environment laws and said there will be no inspection during the first three years of launch of the venture. With 4,200 startups, India ranks 3rd globally.

1. Compliance regime based on self certification
The objective of compliance regime based on self certification is to reduce the regulatory burden on startups. This self-certification will apply to laws like payment of gratuity, contract labour, employees provident fund, water and air pollution acts.
2. Startup India hub
A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding.
3. Simplifying the startup process
A startup will be to able to set up by just filling up a short form through a mobile app and online portal. A mobile app will be launched on April 1 through which startups can be registered in a day. There will also be a portal for clearances, approvals and registrations
4. Patent protection
The government is also working on a legal support for fast-tracking patent examination at lower costs. It will promote awareness and adoption of Intellectual Property Rights (IPRs) by startups and help them protect and commercialise IPRs. Panel of facilitators to provide legal support and assist in filing of patent application. 80 per cent rebate on filing patent applications by startups
5. Funds of funds with a corpus of Rs 10,000 crore
In order to provide funding support to startups, the government will set up a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000 crore over four years. The fund would be managed by private professionals drawn from the industry while LIC will be a co-investor in the fund.
6. Credit Guarantee Fund
A National Credit Guarantee Trust Company is being envisaged with a budgetary allocation of Rs 500 crore per year for the next four years.
7. Exemption from Capital Gains Tax
Currently, investments by venture capital funds in startups are exempt from this law. Now, the same is being extended to investments made by incubators in startups.
8. Tax exemption for startups
Income tax exemption to startups announced for three years
9. Relaxed norms of public procurement for startups
10. Faster exits for startups.
STAND UP INDIA

· ‘Stand up India’ scheme was launched on 5^th April 2016 as part of the goverment's efforts to support entrepreneurship among women and SC & ST communities.

· Babu Jagjivan Ram made India very proud. Today on his birth anniversary 'Stand up India' is being launched.

· The scheme is intended to promote entrepreneurship among Scheduled Castes, Schedule Tribes and women and will involve loans ranging from Rs. 10 lakh to Rs. 1 crore.

· The logo of stand up India scheme is “ Stand up India – Karen prayas paayen vikas.

· As part of the launch event in Noida , he distributed 5,100 e-rickshaws under the Mudra Yojna Scheme. The e-rickshaws were received by cycle rickshaw owners as well as women and transgenders.

· The Stand Up India scheme is anchored by Department of Financial Services (DFS) to encourage greenfield enterprises by SC/ST and women entrepreneurs. The Stand Up India scheme is intended to facilitate at least two such projects per bank branch, on an average one for each category of entrepreneur. The expected date of reaching the target of at least 2.5 lakh approvals is 36 months from the launch of the Stand Up India scheme.

· The Stand Up India scheme provides for refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of Rs 10,000 crore.

· SBI opened its first branch dedicated to serving the needs of Startups in Bengaluru . First Private sector bank to launch an exclusive branch for startups is RBL bank (Formerly Ratnakar Bank Ltd.) in Koramangala on 19 april 2016.

MAN BOOKER PRIZE

The Man Booker Prize for Fiction is a literary prize awarded each year for the best original novel, written in the English language, and published in the UK.

2012	Hilary Mantel	Bring Up the Bodies	Historical novel	United Kingdom
2013	Eleanor Catton	The Luminaries	Historical novel	New Zealand
2014	Richard Flanagan	The Narrow Road to the Deep North	Historical novel	Australia
2015	Marlon James	A Brief History of Seven Killings	Historical/experimental novel	Jamaica

Man Booker International Prize

The Man Booker International Prize is an international literary award hosted in the United Kingdom. The introduction of the International Prize to complement the Man Booker Prize was announced in June 2004.^[1] Sponsored by the Man Group, from 2005 until 2015 the award was given every two years to a living author of any nationality for a body of work published in English or generally available in English translation.^[2] It rewarded one author's "continued creativity, development and overall contribution to fiction on the world stage,"^[3] and was a recognition of the writer's body of work rather than any one title.^[2] The judges for the year compiled their own lists of authors, and submissions were not invited.^[2]

2011	Philip Roth		n/a	United States	English	American literature
2013	Lydia Davis		n/a	United States	English	American literature
2015	László Krasznahorkai			Hungary	Hungarian	Hungarian literature
2016	Han Kang	TheVegetarian	Deborah Smith	South Korea	Korean	Korean literature, South Korean literature

BANKING AND ECONOMY

New Debt structuring scheme – S4A - by RBI

The Reserve Bank of India (RBI) has issued guidelines called Scheme for Sustainable Structuring of Stressed Assets (S4A). The S4A envisages determination of sustainable debt level of a stressed borrower and bifurcate outstanding debt into sustainable debt and equity/quasi-equity instruments. It applies to borrowers with a finance of 500 crore and above. The resolution plan will be prepared by credible professional agencies in order to make sure that entire exercise is carried out in a prudent and transparent manner. Besides, an Overseeing Committee comprising of eminent experts will be set up by the Indian Banks Association (IBA) in consultation with the RBI.

Saudi Arabia’s Islamic Development Bank (IDB) has decided to open its first branch in India at Ahmedabad, Gujarat. This announcement comes as part of MoU signed between IDB and India’s EXIM Bank during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016. The IDB is a multilateral development financing institution based in in Jeddah, Saudi Arabia. Presently, it has 56 Islamic countries as its members.
State Bank of India (SBI) has been granted preliminary approval to operate Myanmar.
State Bank of India (SBI) has launched dedicated specialized branch for start-ups called ‘SBI InCube’ in Bengaluru, Karnataka.
History of SBI – starts with establishment of the Bank of Calcutta in Calcutta on 2 June 1806, which later redesignated as Bank of Bengal in 1809. Similarly two more banks were established as The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843). These three banks were later merged to form Imperial Bank of India on 27 January 1921. State Bank of India was constituted on 1 July 1955 by taking over Imperial bank of India . Later, the State Bank of India (Subsidiary Banks) Act was passed in 1959, enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries (later named Associates). State bank of Bikaner & Jaipur and other such banks.
Banking Ombudsman – ( For banking complaints )Currently 15 Ombudsmen in different states. All scheduled commercial banks , RRBs and Primary cooperative banks comes under it .Appointed under section 35 A of banking regulation act. Customer has to first approach concerned bank , if reply not received within 30 days or reply is not satisfactory then only he can file a complaint with Ombudsman. If not satisfied with decision of Ombudsman then he may appeal to deputy governor of RBI or he may file a legal suit in court of law.

· Priority Sector includes the following categories:

· (i) Agriculture
(ii) Micro, Small and Medium Enterprises
(iii) Export Credit
(iv) Education (loan up to 10 lac)
(v) Housing (loan up to 20 lac and cost of house up to 25 lac) 28 and 35 for metro
(vi) Social Infrastructure
(vii) Renewable Energy
(viii) Others

Targets under Priority sector. – 40% of total loans , subtarget for agiculture is 18% of total loans. Foreign banks having less than 20 branches have to reach this target by 2020 while with more branches deadline is 2018.
Difference between BSBDA A/C and BSBDA-Small account . BSBDA account is zero balance permitted accounts with limited facilities but normal KYC requirements means identity proof as well as address proof needed. BSBDA- small accounts are with simplified KYC norms (with just a self attested photo) opened only for a temporary period till ID proof and address proof cards are not available at the time of opening the account. Account holder need to convert the small account to BSBDA normal account within 2 years. 12 months with a further extension of 12 months. These small accounts come with further restrictions in regard to transctions limit.

Basic Savings Bank Deposit Account (BSBDA) has been defined by RBI vide its circular dated 10.08.2012. Its salient features are:

· There is no requirement of minimum balance.

· The services available include deposit and withdrawal of cash at bank branch as well as ATMs; receipt/credit of money through electronic payment channels or by means of collection/deposit of cheques.

· Maximum of 4 withdrawals a month including ATM withdrawal. No such limit for deposits.

· Facility of ATM card or ATM-cum-Debit card.

· These facilities are to be provided without any extra cost.

What are the conditions stipulated for accounts which are additionally to be treated as ‘BSBDA-Small Account’?
As notified in terms of Govt. of India notification dated December 16, 2010, BSBDA-Small Accounts would be subject to the following conditions:
i. Total credits in such accounts should not exceed one lakh rupees in a year.
ii. Maximum balance in the account should not exceed fifty thousand rupees at any time
iii. The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month
iv. Foreign remittances cannot be credited to Small Accounts without completing normal KYC formalities
v. Small accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides proof of having applied for an Officially Valid Document.
vi. Small Accounts can only be opened at CBS linked branches of banks or at such branches where it is possible to manually monitor the fulfillments of the conditions

BANKING EXAM RESULTS - 2015-16

2015-10-13T23:47:00.001-07:00

IBPS FINAL RESULTS - 2015-2016
LAST YEAR'S WAITING LIST CLEARED
1) Shubham Joshi - PO Bank of Maharashtra
2) Ritesh Rizwani - Clerical - PNB
3) Shubhank Chahande
THIS YEAR'S RESULTS STARTED POURING IN
1) Pranita Bhawalkar SO-IT Bank of India
2) Ashlesha Chunekar SO-Marketing - Union Bank of india A
3) Pranita Bhawalkar PO United Bank of India
4) Swapnil Meshram PO Syndicate bank
5) Himanshu Meshram PO Oriental Bank of Commerce
6) Alka Rudra PO - Union Bank of India
7) Vaijanti Upadhyay - Clerical - Bank of India
8) Alka Rudra - Clerical - Bank of Baroda
9) Jyoti Sangtani - Clerical - Punjab National Bank
10) Shubham Joshi - Clerical - Bank of India
11) Trapti Gupta - Clerical - Union Bank of India
12) Pranita Bhawalkar - Clerical - Union Bank of India.
13) Ayushi Gupta - Clerical - Bank of India
14) Ankita Neema - Clerical - Bank of India
15) Vivek Chauhan - PO - Central Bank of India
16) Vivek Chauhan - Clerical - Bank of India
17) Sunny Koshi - Clerical - Bank of India

1) Pranita Bhawalkar - Written test cleared - IBPS-SO-IT
Congratulations to Ms. Akansha Aheer, who got appointment in SBBJ as Clerk
Jyoti Sangtani cleared written test for SIDBI Officers exam . We wish him good luck for interview and final selection.
Students finally selected for appointment in RRBs
1) Pranita Bhawalkar - PO Maharashtra Grameen Bank
2) Alka Rudra - PO Maharashtra Grameen Bank
3) Ayushi Gupta - OA Narmada Jhabua Grameen Bank
4) Vaijanti Upadhyay - OA Narmada Jhabua Grameen Bank
5) Shyam Goyal - OA- Narmada Jhabua Grameen Bank
6) Sunny Koshi - OA- Narmada Jhabua Grameen Bank

FOLLOWING STUDENTS HAVE REPORTED THEIR SUCCESS IN BANKING EXAMINATIONS FOR THE YEAR 2015-16 . )
IBPS-PO MAINS -
1) Pranita Bhawalkar
2) Alka Rudra
3) Shraddha Fagre
4) Vinay yadav
5) Udit Bhatt
6) Vivek Chauhan
7) Swapnil Meshram ( interview batch)
8) Himanshu                  --" " --
9) Rahul Malviya          --" " --
10) Nihit Dave    --" " --

CONGRATULATIONS AND BEST WISHES FOR NEXT PHASE OF RECRUITMENT PROCESS.

STATE BANK ASSOCIATE BANK PO (Last year wait listed candidates' appointments cleared)
1) Shri Shashwat Sharma , SBBJ PO
2) Miss Varsha Rochwani , State Bank of Mysore PO

IBPS PO - Prelim - 1) Preeti Thote 2) Vaijayanti Upadhyay 3) Sameeksha Gautam 4) Himakshi Tuteja   5) Bhavini Toprani 6) Udit Bhatt 7) Peeyush trivedi 8) Shubham Joshi 9) Shraddha Fagre 10) Ayush Rajvaidhya 11) Pratiksha Ambadekar 12) Pranita Bhawalkar13) Sunny koshi 14) Ankita Neema 15) Sapna Sodani 16) Vinay yadav 17) Mohit tehilramani 18)

RRB PO and Assistant written exam result

1) Pranita Bhawalkar     PO and Assistant both.
2) Ayushi Gupta            PO and Assistant both.
3) Shubham Joshi          PO and Assistant both.
4) Vaijyanti Upadhyay    Assistant.
5) Shyam Goyal             Assistant.                        Ex.Serviceman
6) Udit Bhatt                  Assistant
7) Sunny Koshi    Assiatant
8) Kuldeep singh Raghuvanshi     Assistant
9) Trapti Gupta
10) Sonam Rajdev
11) Alka Rudra
12) Jaya Joshi
13) Jyoti Sangtani
14)

Reserve Bank of India - Assistant exam result.
1) Pranita Bhawalkar

IBPS PO/ RRB /SBI CLERK RESULTS

2014-11-18T02:50:00.001-08:00

            RESULTS 2014-15

IBPS PO FINAL RESULT - CONGRATULATIONS TO SUCCESSFUL CANDIDATES.
1) Deeksha Mittal - PO - Bank of Maharashtra
2) Varsha Rochwani - PO - Bank of India
3) Vaibhav Bairagi -- PO - Bank of India
4) Arpit Panwar --   PO - IDBI
5) Abhishek Sharma BE - PO- Bank of India

IBPS CLERK FINAL RESULT - CONGRATULATIONS TO SUCCESSFUL CANDIDATES.
1) Harsha Soni - Clerical - Bank of Baroda
2) Gaurav Jaiswal - Clerical - Bank of Baroda
3) Amit Das          - Clerical - Bank of india
4) Divya Chaturvedi - Clerical -Bank of India
5) Anuj Saxena --- Clerical - Bank of india
6) Ashok wadhwani - Clerical - Bank of india
7) Madhurima Kaushal - Clerical- PNB
8) Varsha Rochwani - Clerical - Bank of India
9) Shashwat Sharma- Clerical- Bank of india
10) Vaibhav Bairagi - Clerical- Bank of India
11) Arpit Panwar - Clerical - PNB
12) Gaurav Wahegaonkar -Clerical -Bank of India
13) Rupesh Rijhwani - Reserve list
14) Abhishek Sharma (MBA)-Clerk - Bank of India
15) Shubhank Chahande - Reserve list
16) Abhishek Sharma -BE - Clerical
17) Divya Upadhyay - Clerical - Bank of India
18) Samay Samarwal - Clerical- Bank of India

IBPS Clerks score declared : most of the students have scored excellent marks : we salute their perseverance and hard work.
check their scores in the list given downwards

Chart showing requirement of interview marks for various written test scores , to reach a combined score of 67.5% for General candidate in MP state. Last year final cut off reached to 121 from interview cut off of 107, considering the same increment this year it should reach 135 from 121 . A score of 135 means 67.5% net

Written test marks out of 200	125	130	135	140	145	150
Required marks in interview to reach 67.5% Out of 100	87.5	77.5	67.5	57.5	47.5	40
80:20 weightage	67.5	67.5	67.5	67.5	67.5	68

        CONGRATULATIONS TO
SHASHWAT SHARMA
FOR FINAL SELECTION IN SBI AS CLERK

SBI Associates PO result declared(written test)
We are proud to share the names of successful candidates
1) Shashwat Sharma
2) Anuj Saxena
3) Varsha Rochwani
4) Gaurav Wahegaonkar
IBPS CLERK RESULT (written test)
Congratulations to successful candidates.

Name                                    written test score (out of 200)
1) Divya Chaturvedi                         150
2) Deeksha Mittal                        150 +
3) Gaurav Jaiswal                            144   obc
4) Shaswat Sharma                          154
5) Anuj Saxena                                145
6) Gaurav Khobre                            122
7) Vaibhav Bairagi                            136 obc
8) Udit Bhatt                                    148
9) Harsha Soni                                 121 (90) obc -Gujrat
10) Ashok Wadhwani                       141 (90) Gujrat
11) Shraddha Fagre                          123
12) Madhurima Kaushal                    150+
13) Samay Samarwal                        113 (98) sc
14) Varsha Rochwani                        150+
15) Lalit Rathore                               134
16) Arpit Panwar                              128(98) sc
17) Ishika Jain                                   128
18) Jasmeet singh                              128
19) Amit Das                                      91(53) st
20) Ritu Hasija
21) Monika sharma                          122
22) Ayush rajvaidhya

INTERVIEW BATCH (IBPS Clerk)

1) Abhishek sharma MBA
2) Abhishek Sharma BE
3) Kuldeep Singh
4) Rupesh rijhwani
5) Pallavi sisodia
6) Tripti Gupta                                     142
7) Surbhi Jain
8) Gaurav wahegaonkar                       147
9) Shubhank Chahande
10) Vivek chauhan
11) Bhawna bhati
12) Divya Upadhyay
13) Arjun                                            114 (90) sc -Gujrat
14) Akash kethwas

IBPS PO Written test result declared : Congratulations to successful candidates.

1) Deeksha Mittal
2) Shashwat Sharma
3) Madhurima Kaushal
4) Anuj Saxena
5) Varsha Rochwani
6) Arpit Panwar
7) Ishika Jain
8) Udit Bhatt
9) Lalit Rathod
10) Yogita Torani
11) Ashok wadhwani
12) Samay Samarwal

RBI Assistant result declared : Congratulations to successful candidates.

1) Arpit Panwar

SBI Clerk written test result declared : congratulations to successful candidates.

1)     Deeksha Mittal               State- MP
2) Shashwat Sharma State - MP
3) Arpit Panwar State - MP

IBPS RRB PO/Office Assistants result declared : Kudos to successful candidates

The following candidates have reported their success in RRB PO/Assistants exam

Name                           PO Score               OA Score

Varsha Rochwani 121 155
Vandana Sijoria                not appeared 154
Divya Chaturvedi                       112                         Not appeared

Shashwat Sharma                       113                            170
Anuj Saxena                               128                            170
Arpit Panwar                              117                            165
Gaurav Khobre                          116                             132
Gaurav Jaiswal                            ---                             160
Udit Bhatt                                  119                            Not appeared
Deepak chawda                        Not appeared              148
Himakshi tuteja                          98                             142
Lalit Rathor    121                             153
Arti Modi                                   Not appeared              131
Madhurma Kaushal    115    145
Ashish sirolia                             Not appeared               135

SBI Associate vacancies advertised today Details on SBI WEBSITE
IBPS Specialist vacancies advertised today Details on IBPS WEBSITE

CURRENT TOPICS FOR IBPS PO EXAM-2014

2014-09-28T07:19:00.001-07:00

Thailand , new prime minister Gen. Prayuth Chan Ocha ,.
T.M. Bhasin CMD of Indian Bank elected as Chairman of Indian Bank Association.
K V Thomas appointed chairman of Public Accounts Committee, which comprises MPs from all political parties and verifies public expenditures of the Government .
Rajni Rajdan , Chairperson UPSC
Bimal Jalan appointed head of FISCAL expenditure management commission .
M Thambidurai of AIDMK elected deputy speaker of Lok sabha.
Change in Iraq. New Prime minister Dr. Haider Al-Abadi , (in place of Noori Al-Maliki) and newly elected president Fouad Masoum.
First Male chairman of National commission of women “ Rashtriya mahila aayog” Shri V.S.Oberoi apponted on 7^th August 14
First woman Chief Justice of Calcutta High court Dr. Manjulla Chellur.
K.V Choudhry appointed new chairman of CBDT.
Lt. Dalbir singh suhag on 31 July 2014 took over as Chief of Army staff from Gen. Bikram Singh.
S S Mundra appointed deputy Governor of RBI. He has been given charge of Banking supervision , currency management, financial stability and rural credit.
22^nd Rajiv Gandhi national sadbhavana award to noted film maker Mujjaffar ali, His notable films are Umrav jaan, Gaman ,Anjuman, Jooni etc.
National sports award 2014- Rashtriya Khel protsahan puraskaar – to ONGC, Jindal steel works, Guru hanuman akhara, Child link foundation of India(Magic bus) Arjun awards to R.Ashwin cricket, Heena sidhu-shooting and 13 others.
Outstanding parliamentarian award to Arun jaitley 2010, Karan singh 2011 and sharad yadav 2012.
Syndicate bank CMD , S K Jain suspended and arrested for a case of bribery.
World renowned Yog Guru and founder of the Iynger school of yoga Shri BKS Iyenger died
Robin Williams Oscar winning actor famous for his comic roles commited suicide.
Cartoonist Pran who created characters like Chacha choudhry died.
ICICI to launch EMI Scheme on debit cards by attaching it to fixed deposits of customers. It will be a sort of loan against Fixed deposits.
REIT (Real estate investment trust ) and Invits ( infrastructure investment trusts) proposed under union budget 2014-15 to allow real estate and infrastructure sectors to directly tap funds from market / public will be implemented soon, with SEBI clearing norms for such companies/ trusts. Through these trusts nearly 1 lakh crore Rupees are expected to be mobilized for RE and Infra sector.
RBI proposes Bharat bill payment system (BBPS) to cover all local bills , municipal payments, college –school fees etc. under this all India bill payment system. It consist of a centralized controlling and regulating body and BBPOU various operating units across India.
Monetary Policy 5^th August Third bimonthly review. Policy rates like Repo-8/Reverse repo-7 /Bank rate-9 remained unchanged. SLR again cut by 0.5% to 22%. CRR remained at 4%.
Govt’s banks merger plan – Finance ministry has initiated the process of merger of SBPatiala with SBI and United bank of India with IDBI. Also thinking on a greater consolidation plan for banks.
Varishtha pension bema yojana relaunched for senior citizen. The beneficiary needs to deposit in lump sum Rs. 66,665/- or Rs.6,66,000/- to get life time pension of Rs. 500/- and Rs.5000/- respectively. Scheme will be administered and serviced by LIC.
Cabinet approves FDI hike in defence and insurance to 49% through FIPB route
WTO meet in Geneva failed to reach a trade facilitation deal, deadlined to be finalized by 31^st July 2014 , because of Indian opposition. India wanted more visible and reliable progress on an another issue of allowing relaxation on its food security program, which was agreed by all countries to be resolved by the end of 2017. The WTO currently limits the food subsidy to be just 10% of any country’s food production, calculating the food cost at 2005 prices. India suspects that once the trade facilitation agreement is cleared, developed countries will not give a fair concession on its food security program. The trade facilitation agreement seeks to libearalise and standardize custom rules and duties across all countries . It is expected to add nearly $ 1 trillion and create 21 million jobs to the world economy.
Cabinet approves 100 % FDI in select investments projects in Railways, like infrastructure projects such as electrification , signaling, high speed and suburban corridors, ppp projects dedicated freight corridors etc.
The Gas price formula and recommendations of C.Rangrajan committee to increase the Gas prices to a nearly double figure $8.8 per unit from 1 april 2014 has been deferred by new government. It has appointed a new committee under the chairmanship of suresh prabhu to suggest a new formula .
Tata –SIA Joint venture to start its operation by Oct. 2014 with the brand name “Vistara”.
What is 5/20 rule in airlines in india. No airline is allowed international flights until it is 5 year ‘s old and have atleast 20 airplanes in its fleet.
Amazon , the world e- retailer announce to invest $2 bn in India in competition with india’s e-tailer flipcart which plans to raise $1 bn to expand its business. Jeff Bezos is the founder of seattle based Amazon, whereas Sachin and binny bansals are the founder of Banglore based flipcart.
6^th economic census -2013 in India.

Indian economic census is the census of the Indian economy through counting all entrepreneurial units in the country which involved in any economic activities of either agricultural or non-agricultural sector which engaged in production and/or distribution of goods and/or services not for the sole purpose of own consumption.^[1]
The economic census provides detailed information on operational and other characteristics such as number of establishments, number of persons employed, source of finance, type of ownership etc. These information used for micro level/ decentralized planning and to assess contribution of various sectors of the economy in the gross domestic product (GDP).^[2]

The Scheme proposes to provide up-to-date information on operational and other characteristics, viz., number of establishments; number of persons employed; source of finance; type of ownership, religion code and social group of propriety establishments, according to their industrial activity including their distribution at all-India, State, district, village/ward levels for comprehensive analysis of the structure of the economy which will be used for micro level/ decentralized planning and also for undertaking detailed follow up sample surveys to assess contribution of various sectors of the economy in the Gross Domestic Product (GDP). The economic census does not include those employed in agriculture, public administration, defence and compulsory social security services activities.

Economic census

In 1976, Government of India launched a plan scheme called Economic Census and Surveys. In 1977 Central Statistical Organisation conducted First economic census in collaboration with the Directorate of Economics & Statistics (DES) in the States/Union Territories.

Economic Census	Year
First Economic Census	1977
Second Economic Census	1980
Third Economic Census	1990
Fourth Economic Census	1998
Fifth Economic Census	2005
Sixth Economic Census	2013

Highlights of Sixth economic census 2013.

1) Uttar Pradesh was the top employment generator among big states in eight years ended 2013, creating jobs at over double the national average rate.

2) The number of employed in the country rose 34.35% in eight years to 12.77 crore. "That means that it had grown at an annual rate of over 4% when the population is growing at 2%.

3) The provisional sixth economic census results showed there were 58.47 million establishments in the country engaged in different economic activities, excluding crop production, plantation, public administration, defence and compulsory social security services.

India 135^th in HDI-2014 , Human Development Index-, which is a measure derived from life expectancy , Child mortality rate, education levels and income levels (poverty), no. of years of schooling, dropout rate, is annually published by UNDP United nations development program, covering 187 countries. Norway topped the list followed by Australia, Switzerland , Netherlands and US. HDReport introduces a gender development index for the first time in 2014.
COMMONWEALTH GAMES -2014 GLASSGOW, Scotland. Next games will be in Australia . England topped the medal tally followed by Australia and India remained 5^th with 64 medals (15+30+19). In the previous games held in Delhi -2010, India finished second . Dipika pallikal and Joshana chinappa won gold in squash. In Hockey we lost to Australia and bagged silver. Vikas gowda discus throw won us another gold. Parupali Kashyap won gold in badminton , 32 years after syed modi in 1982.
Germany’s women tennis player Sabine Lisicki recorded fastest service at 131 mph in Stanford USA. Last record was in the name of venus William 129 mph . Man’s record is 163.4 mph by Australian Sam groth.
India equals the record of maximum 6 ducks (out at zero) in a test innings while playing against England in fourth test at old Trafford.. This fourth time in the history of cricket. Other teams in this club are Pakistan, Bangladesh and south Africa.
Lithuania 19^th member of Euro club, will adopt Euro currencies from 01-01-2015. European union has 28 states but all have not adopted Euro currency. Lithuania curretly uses Litas as its currency.
Argentina defaulted for the second time in last 12 years as talks with US hedge fund creditors has failed.
Proposed national judicial appointments commission – will be headed by Chief justice of India with total members strength of 6 persons.
Trai chairman – Rahul khullar

CRITERION FOR DECLARING SOMEONE AS WILLFUL DEFAULTER

WILFUL DEFAULTERS

DEFINITION

A "wilful default" is deemed to have occurred if Default in repayment obligations by the unit to the lender even when it has the capacity to honour the said obligations.

Or it has not utilized thefinance from the lender for the specific purposes for which finance was availed of buthas diverted the funds for other purposes.

Or has siphoned off the funds so that the funds have not been utilized for the specific purpose for which

finance was availed of, nor are the funds available with the unit in the form of other assets.

Or has also disposed off or removed the movable fixed assets or immovable property given by it for the purpose of securing a term loan without the knowledge of the bank/lender.

Penal Measures

The penal measures are applicable to any wilful defaulter with an outstanding balance of

Rs. 25 lakh or more. This limit of Rs. 25 lakh may also be applied for the purpose of

taking cognizance of the instances of 'siphoning' / 'diversion' of funds.

List of wilful defaulters (non-suit filed accounts) and list of wilful defaulters (suit filed

accounts) are forwarded to SEBI by RBI and Credit Information Bureau (India) Ltd.

(CIBIL) respectively so as to prevent the access to the capital markets by the wilful

defaulters.

Banks and FIs are required to initiate penal measures against the identified wilful

defaulters as under:-

No additional facilities should be granted by any bank / FI to the listed wilful defaulters.

The entrepreneurs / promoters of companies where banks / FIs have identified siphoning /

diversion of funds, misrepresentation, falsification of accounts and fraudulent transactions

should be debarred from institutional finance from the scheduled commercial banks,

Development Financial Institutions, Government owned NBFCs, investment institutions

etc. for floating new ventures for a period of 5 years from the date the name of the wilful

defaulter is published in the list of wilful defaulters by the RBI.

Initiation of legal process including criminal proceedings, wherever necessary, against the

borrowers / guarantors and foreclosure of recovery of dues expeditiously.

Banks and FIs should adopt a proactive approach for a change of management of the

wilfully defaulting borrower unit, etc.

Reporting to RBI / Credit Information Companies

Banks/FIs are required to submit to Credit Information Bureau (India) Ltd. (CIBIL) the list of

suit-filed accounts of wilful defaulters of Rs.25 lakh and above as at end-March, June, September

and December every year and a quarterly list of wilful defaulters where suits have not been filed

to RBI.

Banks and FIs take suitable steps to report the names of current directors as also the directors

who were associated with the company at the time the account was classified as defaulter to put

other banks and FIs on guard. The names of independent and nominee directors are also be

included with suitable distinguishing remarks as applicable.

Grievances Redressal Mechanism

Decisions to classify the borrower as wilful defaulter should be entrusted to a Committee of

higher functionaries headed by the Executive Director and consisting of two GMs/DGMs as

decided by the Board of the concerned bank/FI with a view to have more objectivity in identifying

cases of wilful default.

The borrower should be suitably advised about the proposal to classify him as a wilful defaulter

along with reasons therefore. He should be provided reasonable time (say 15 days) for making

representation against such decision to a Grievance Redressal Committee headed by the CMD and

consisting of two other senior officials.

He should also be given a hearing in case he represents that he has been wrongly classified as

wilful defaulter and a final declaration as ‘wilful defaulter’ should be made after a view is taken by

the Committee on the representation and the borrower should be suitably advised.

Source: RBI M. Circular

Pradhan Mantri Jan Dhan Yojana : important features.

Pradhan Mantri Jan Dhan Yojana(Hindi: प्रधानमंत्री जन धन योजना, meaning: Prime Minister Scheme for People's Wealth) is an ambitious scheme for comprehensive financial inclusion launched by the Prime Minister of India, Narendra Modi on 28 August 2014^[1] He had announced this scheme on his first Independence Day speech on 15 August 2014.

Name: Pradhan Mantri Jan-Dhan Yojana

Tagline: ‘Mera Khata Bhagya Vidhata’

While the logo and name finalised are based on entries received the tag line was not suggested by any participant. Since the final design was not based on a single entry, it was decided to split the prize money in half, with one half going for the Logo and the other half for the name of the scheme. The final result of the competition is as follows:

(i) Ms. Priya Sharma based on whose entry the logo was finalised would be awarded Rs. 25,000

(ii) The following participants who proposed “Jan Dhan” would share the other half of the prize rounded up to Rs. 10,000 each:

1.	Shri Sanjay Tiwari
2.	Ms. Sonia Chauhan
3.	Ajith Gurunathan

The Yojana will be implemented in two phases:-

Phase-I from 15^th August 2014:

· Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) called Bank Mitra within a reasonable distance except areas with infrastructure & connectivity constraints.

· To cover all households with atleast one Basic Banking Account with RuPay Debit card having inbuilt accident insurance cover of Rs.1 lakh. Further an overdraft facility upto Rs.5000 will also be permitted to Adhaar enabled accounts after satisfactory operation in the account for 6 months.

· Financial literacy programme which aims to take financial literacy upto village level.

· The Mission also envisages expansion of Direct Benefit Transfer under various Government Schemes through bank accounts of the beneficiaries of.

· The issuance of Kisan Credit Card (KCC) as RuPay Kisan Card is also proposed to be covered under the plan.

Phase-II :

· Providing micro –insurance to the people.

· Unorganised sector Pension schemes like Swavalamban through the Business Correspondents.

On the inaugural day, a record 1.5 crore bank accounts were opened across the country, the largest such exercise on a single day possibly anywhere in the world. It will cover 7.5 crore people by January 26, 2015.

Here is looking at Five important features of the PM Jan Dhan Yojna

1. Under the scheme, account holders will be provided zero-balance bank account with RuPay debit card, in addition to accidental insurance cover of Rs 1 lakh.

2. Those who open accounts by January 26, 2015 over and above the Rs1 lakh accidental insurance for the entire family, they will be given life insurance cover of Rs 30,000. Accident cover provided by HDFC Ergo insurance co. and life c

over by LIC.

3. Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank. Overdraft /loan can be availed by only one person per household , even if two or more accounts are opened by the members of a family.

4. With the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones so far.

5. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together.

The Jan Dhan Yojana also seeks to provide incentives to business and banking correspondents who serve as link for the last mile between savings account holders and the bank by fixing a minimum monthly remuneration of Rs 5000.
The long term vision of the Jan Dhan Yojana is to lay the foundation of a cashless economy and is complementary to the Digital India Scheme.

The Government has decided that the following facilities available to those account holders who have opened their accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) would also be extended to the existing account holders subject to submission of an application by the account holder(s) to the concerned bank branch:

(i) For issuance of RuPay Debit card having inbuilt accident insurance cover of Rs.1 lakh;

(ii) For issuance of an overdraft facility of Rs.5000 after satisfactory operations in the account for some time.

The Government has asked the banks to extend overdraft facility of Rs.5,000 as above to only one member, preferably lady of a house-hold.

The finance ministry, in consultation with the Life Insurance Corporation of India (LIC) has finalised the arrangement for payment of premium towards life insurance cover under the Pradhan Mantri Jan Dhan Yojana.

It has been decided to set aside Rs 50 crore from the Social Security Fund, managed by LIC and worth about Rs 1,800 crore, sources said.

This would be a revolving fund and LIC would manage it, sources said, adding that Finance Minister Arun Jaitley is likely to approve the arrangement soon.

A Social Security Fund (SSF) was set up in 1988-89 for providing social security through group insurance schemes to the weaker and vulnerable sections of society. The SSF is administered by LIC for meeting insurance requirements of the segment.

To make the Pradhan Mantri Jan Dhan Yojana (PMJDY) a mega success, the government has doubled the personal accident cover to Rs 2 lakh per person if the bank account is opened within the first 100 days of the massive financial inclusion programme being launched Thursday.

Towards this, NPCI has already tied up with private sector general insurer HDFC Ergo for the first Rs 1 lakh accident cover which will be issued with the RuPay card of the account holder, Hota said, adding the other Rs 1 lakh cover will be provided by any of the four state-owned general insurers.
"We have tied up with HDFC Ergo to provide this additional Rs 1 lakh personal accident cover to all those who open their bank account during this period. However, the remaining Rs 1 lakh insurance cover will come from any of the four state-owned general insurers as per the agreement reached between NPCI and the insurers," Hota said.
Hota further explained that the additional Rs 1 lakh cover comes with a rider that the account-holder will have to do at least one transaction in 45 days.
PM NARENDRA MODI ADDRESSES UN
PM Narendra modi addressed the UN General assembly in Newyork on 27^th September 2014 in Hindi.
Mr Vajpayee, who was Prime Minister from 1998 to 2004, was the first person to speak in Hindi at the United Nations General Assembly. As foreign minister, he addressed a session in 1977 in Hindi.

Mr Vajpayee also spoke in Hindi at the UN General Assembly's Millennium Summit and ended his speech with a Sanskrit shloka.

In 1988, as then foreign minister, PV Narasimha Rao also addressed the UNGA in Hindi. Mr Rao, who could speak 17 languages, later became Prime Minister.

Hindi is not among the official languages of the UN, which are Arabic, Chinese, English, French, Russian and Spanish.
UNITED NATIONS
The United Nations (UN) is an intergovernmental organization established on 24 October 1945 to promote international co-operation. The UN Headquarters is situated in Manhattan, New York City.
Present secretary general

	Ban Ki-moon					South Korea		From 1 January 2007

Organizations and specialized agencies of the United Nations
No.			Acronym		Agency		Headquarters		Head^[d]	Established in
1		FAO		Food and Agriculture Organization							Rome, Italy	José Graziano da Silva	1945
2		IAEA		International Atomic Energy Agency							Vienna, Austria	Yukiya Amano	1957
3		ICAO		International Civil Aviation Organization							Montreal, Canada	Raymond Benjamin	1947
4		IFAD		International Fund for Agricultural Development							Rome, Italy	Kanayo F. Nwanze	1977
5		ILO		International Labour Organization							Geneva, Switzerland	Guy Ryder	1946 (1919)
6		IMO		International Maritime Organization							London, United Kingdom	Koji Sekimizu	1948
7		IMF		International Monetary Fund							Washington, DC, US	Christine Lagarde	1945 (1944)
8		ITU		International Telecommunication Union							Geneva, Switzerland	Hamadoun Touré	1947 (1865)
9		UNESCO		United Nations Educational, Scientific and Cultural Organization							Paris, France	Irina Bokova	1946
10		UNIDO		United Nations Industrial Development Organization							Vienna, Austria	Li Yong (politician)	1967
12		UPU		Universal Postal Union							Bern, Switzerland	Bishar Abdirahman Hussein	1947 (1874)
13		WBG		World Bank Group							Washington, DC, US	Jim Yong Kim	1945 (1944)
14		WFP		World Food Programme							Rome, Italy	Ertharin Cousin	1963
15		WHO		World Health Organization							Geneva, Switzerland	Margaret Chan	1948
16		WIPO		World Intellectual Property Organization							Geneva, Switzerland	Francis Gurry	1974
17		WMO		World Meteorological Organization							Geneva, Switzerland	David Grimes / Michel Jarraud	1950 (1873)
11		UNWTO		World Tourism Organization							Madrid, Spain	Taleb Rifai	1974

Membership

According to the UN. Antarctica has no government; political control of Western Sahara is in dispute; and the territories administered by Taiwan and Kosovo are considered by the UN to be provinces of China and Serbia, respectively.

With the addition of South Sudan on 14 July 2011,^[89] there are 193 United Nations member states, including all undisputed independent states apart from Vatican City.^[9

Top 15 biggest dams of india

NAME Height Length River State

Tehri Dam	260 m	575 m	Bhagirathi	Uttarkhand
Bhakra Nangal Dam	226 m	520 m	Sutlej	Punjab and Himachal Pradesh
Hirakud Dam	60.96 m	25.8 m	Mahanadi	Orissa
NagarjunaSagar Dam	124 m	1,450 m	Krishna	Andhra Pradesh
Sardar Sarovar Dam	163 m	1210 m	Narmada	Gujarat
Cheruthoni Dam	450 ft	2300 ft	Cheruthoni	Kerala
Indira Sagar Dam	92 m	653 m	Narmada	Madhya Pradesh
Krishnarajasagar Dam	125 m	3.5 km	Kaveri	Karnataka
Mettur	12o ft	1700 m	Kaveri	Tamil Nadu
Bisalpur Dam	130 ft	1883 ft	Banas	Rajasthan
Koyna Dam	339 ft	2648 ft	Koyna	Maharashtra
Maithon Dam	165 ft	15712 ft	Barakar	Jharkhand
Rihand Dam	299 ft	3064 ft	Rihand	Uttar Pradesh
TungaBhadra Dam	49.38 m	2441 m	Tungabhadra	Karnataka
TungaBhadra Dam	105 ft	1700 m	Bhavani	Tamil Nadu

A
Afghanistan - Kabul
Albania - Tirana
Algeria - Algiers
Andorra - Andorra la Vella
Angola - Luanda
Antigua & Barbuda - Saint John's
Argentina - Buenos Aires
Armenia - Yerevan
Australia - Canberra
Austria - Vienna
Azerbaijan - Baku
B
Bahamas - Nassau
Bahrain - Al-Manamah
Bangladesh - Dhaka
Barbados - Bridgetown
Belarus - Minsk
Belgium - Brussels
Belize - Belmopan
Benin - Porto-Novo
Bhutan - Thimphu
Bolivia - La Paz (administrative); Sucre (judicial)
Bosnia & Herzegovina - Sarajevo
Botswana - Gaborone
Brazil - Brasilia
Brunei - Bandar Seri Begawan
Bulgaria - Sofia
Burkina Faso - Ouagadougou
Burundi - Bujumbura
C
Cambodia - Phnom Penh
Cameroon - Yaounde
Canada - Ottawa
Cape Verde - Praia
Central African Republic - Bangui
Chad - N'Djamena
Chile - Santiago
China - Beijing
Colombia - Bogota
Comoros - Moroni
Congo - Brazzaville
Congo Democratic Republic of the - Kinshasa
Costa Rica - San Jose
Cote d'Ivoire - Abidjan
Croatia - Zagreb
Cuba - Havana
Cyprus - Nicosia
Czech Republic - Prague
D
Denmark - Copenhagen
Djibouti - Djibouti City
Dominica - Roseau
Dominican Republic - Santo Domingo
E
East Timor - Dili
Ecuador - Quito
Egypt - Cairo
El Salvador - San Salvador
Equatorial Guinea - Malabo
Eritrea - Asmara
Estonia - Tallinn
Ethiopia - Addis Ababa
F
Fiji - Suva
Finland - Helsinki
France - Paris
G
Gabon - Libreville
Gambia - Banjul
Georgia - Tbilisi
Germany - Berlin
Ghana - Accra
Greece - Athens
Grenada - Saint George's
Guatemala - Guatemala City
Guinea - Conakry
Guinea-Bissau - Bissau
Guyana - Georgetown
H
Haiti - Port-au-Prince
Honduras - Tegucigalpa
Hungary - Budapest
I
Iceland - Reykjavik
India - New Delhi
Indonesia - Jakarta
Iran - Tehran
Iraq - Baghdad
Ireland - Dublin
Israel - Jerusalem
Italy - Rome
J
Jamaica - Kingston
Japan - Tokyo
Jordan - Amman
K
Kazakhstan - Astana
Kenya - Nairobi
Kiribati - Tarawa Atoll
Korea North - Pyongyang
Korea South - Seoul
Kosovo - Pristina
Kuwait - Kuwait City
Kyrgyzstan - Bishkek

L
Laos - Vientiane
Latvia - Riga
Lebanon - Beirut
Lesotho - Maseru
Liberia - Monrovia
Libya - Tripoli
Liechtenstein - Vaduz
Lithuania - Vilnius
Luxembourg - Luxembourg
M
Macedonia - Skopje
Madagascar - Antananarivo
Malawi - Lilongwe
Malaysia - Kuala Lumpur
Maldives - Male
Mali - Bamako
Malta - Valletta
Marshall Islands - Majuro
Mauritania - Nouakchott
Mauritius - Port Louis
Mexico - Mexico City
Micronesia - Palikir
Moldova - Chisinau
Monaco - Monaco
Mongolia - Ulaanbaatar
Montenegro - Podgorica
Morocco - Rabat
Mozambique - Maputo
Myanmar (Burma) - Rangoon (Yangon); Nay Pyi Taw (administrative)
N
Namibia - Windhoek
Nauru - no official capital; government offices in Yaren District
Nepal - Kathmandu
Netherlands - Amsterdam
New Zealand - Wellington
Nicaragua - Managua
Niger - Niamey
Nigeria - Abuja
Norway - Oslo
O
Oman - Muscat
P
Pakistan - Islamabad
Palau - Melekeok
Palestinian State*
Panama - Panama City
Papua New Guinea - Port Moresby
Paraguay - Asuncion
Peru - Lima
Philippines - Manila
Poland - Warsaw
Portugal - Lisbon
Q
Qatar - Doha
R
Romania - Bucharest
Russia - Moscow
Rwanda - Kigali
S
Saint Kitts and Nevis - Basseterre
Saint Lucia - Castries
Saint Vincent and the Grenadines - Kingstown
Samoa - Apia
San Marino - San Marino
Sao Tome and Principe - Sao Tome
Saudi Arabia - Riyadh
Senegal - Dakar
Serbia - Belgrade
Seychelles - Victoria
Sierra Leone - Freetown
Singapore - Singapore
Slovakia - Bratislava
Slovenia - Ljubljana
Solomon Islands - Honiara
Somalia - Mogadishu
South Africa - Pretoria (executive); Cape Town (legislative); Bloemfontein (judicial)
South Sudan - Juba
Spain - Madrid
Sri Lanka - Colombo; Sri Jayewardenepura Kotte (legislative)
Sudan - Khartoum
Suriname - Paramaribo
Swaziland - Mbabane
Sweden - Stockholm
Switzerland - Bernd
Syria - Damascus
T
Taiwan - Taipei
Tajikistan - Dushanbe
Tanzania - Dar es Salaam; Dodoma (legislative)
Thailand - Bangkok
Togo - Lome
Tonga - Nuku'alofa
Trinidad and Tobago - Port-of-Spain
Tunisia - Tunis
Turkey - Ankara
Turkmenistan - Ashgabat
Tuvalu - Vaiaku village, Funafuti province
U
Uganda - Kampala
Ukraine - Kyiv
United Arab Emirates - Abu Dhabi
United Kingdom - London
United States of America - Washington D.C.
Uruguay - Montevideo
Uzbekistan - Tashkent
V
Vanuatu - Port-Vila
Vatican City (Holy See) - Vatican City
Venezuela - Caracas
Vietnam - Hanoi
Y
Yemen - Sanaa
Z
Zambia - Lusaka
Zimbabwe - Harare

Current topics for SBI PO exam

2014-06-08T22:13:00.003-07:00

*** Next batch for freshers will commence from 15th July Evening 5 to 7 pm.

Good luck for SBI Clerical examinations

Financial Inclusion

The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

- Franklin D. Roosevelt

“Poverty is the worst form of violence.”

- Mahatma Gandhi

“If the misery of the poor be caused not by the laws of nature, but by our institutions, great is our sin.”

- Charles Darwin

Introduction

The Government of India and the Reserve Bank of India have been making concerted efforts to promote financial inclusion as one of the important national objectives of the country. Some of the major efforts made in the last five decades include - nationalization of banks, building up of robust branch network of scheduled commercial banks, co-operatives and regional rural banks, introduction of mandated priority sector lending targets, lead bank scheme, formation of self-help groups, permitting BCs/BFs to be appointed by banks to provide door step delivery of banking services, zero balance BSBD accounts, etc. The fundamental objective of all these initiatives is to reach the large sections of the hitherto financially excluded Indian population.

Definition

Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. Financial Inclusion, broadly defined, refers to universal access to a wide range of financial services at a reasonable cost. These include not only banking products but also other financial services such as insurance and equity products Financial inclusion broadens the resource base of the financial system by developing a culture of savings among large segment of rural population and plays its own role in the process of economic development. Financial inclusion also mitigates the exploitation of vulnerable sections by the money lenders by facilitating easy access to formal credit.

Current status

Highest number of households (145 million) excluded from
banking
50% of the population does not have bank account
Only 34% of the population engaged in formal banking
Only 17% of population has any credit exposure especially in
remote villages
Only 30000 villages have commercial bank branch
Only 10% have life insurance cover
Just 9.6% have any non-life insurance

Financial Inclusion – RBI Policy Initiatives

RBI has adopted a bank-led model for achieving financial inclusion (as eqity and insurance products are not in its domain) and removed all regulatory bottle necks in achieving greater financial inclusion in the country. Further, for achieving the targeted goals, RBI has created conducive regulatory environment and provided institutional support for banks in accelerating their financial inclusion efforts. Important steps being taken by RBI are as under.

1) Introduction of BC/BF model : Banks were allowed to appoint banking correspondants/ Facilitators to provide banking facilities in unbanked areas.

2) Boost to micro finance institutions and self help group’s linkage

3) Basic Saving Bank Deposit (BSBD) accounts with minimum common facilities such as no minimum balance, deposit and withdrawal of cash at bank branch and ATMs, receipt/ credit of money through electronic payment channels, facility of providing ATM card.

4) Relaxed and simplified KYC norms to facilitate easy opening of bank accounts, especially for small accounts with balances not exceeding Rs. 50,000 and aggregate credits in the accounts not exceeding Rs. one lakh a year.

5) Simplified Branch Authorization Policy, to address the issue of uneven spread bank branches, domestic SCBs are permitted to freely open branches in Tier 2 to Tier 6 centers with population of less than 1 lakh under general permission.

6) Compulsory Requirement of Opening Branches in Un-banked Villages, banks are directed to allocate at least 25% of the total number of branches to be opened during the year in un-banked (Tier 5 and Tier 6) rural centers.

7) Public and private sector banks had been advised to submit board approved three year Financial Inclusion Plan (FIP) starting from April 2010.

8) FLCs and all the rural branches of scheduled commercial banks should scale up financial literacy efforts through conduct of outdoor Financial Literacy Camps at least once a month, to facilitate financial inclusion.

9) Licensing of New Banks: The present round of licensing new banks is essentially aimed at giving further fillip to financial inclusion efforts in our country.

10) Discussion Paper on Banking Structure in India – The Way Forward: One of the main issues relates to “Differentiated Banking Licenses”. The subject of licensing ‘small banks and financial inclusion’ has been discussed therein.

11) SWABHIMAAN scheme has been successfully implemented wherein banking facilities were made available in a time bound program for all villages having population more than 2000 in general and 1000 in North east .

Financial Literacy Initiatives

Financial education, financial inclusion and financial stability are three elements of an integral strategy, as shown in the diagram below. While financial inclusion works from supply side of providing access to various financial services, financial education feeds the demand side by promoting awareness among the people regarding the needs and benefits of financial services offered by banks and other institutions. Going forward, these two strategies promote greater financial stability.

Insurance Penetration in the Country

The total insurance (life and non-life) penetration, in terms of the ratio of insurance premium as a percentage of GDP increased from 2.32 in 2000-01 to 5.10 in 2010-11. The life insurance penetration as a percentage of GDP stood at 4.40 in 2010-11 while the non-life insurance penetration remained at 0.71 during the same period¹². In other words, there is vast untapped potential as regards insurance penetration.

Equity Penetration in the Country

The number of investor accounts accounted for a meagre 1.71% of total population of the country¹³.

12) Electronic Benefit Transfer (EBT): The EBT scheme being an important and integral part of the overall Financial Inclusion with its attendant benefits, banks should promote EBT systems effectively for boosting their financial inclusion plans.

13) Ultra Small Branches¹⁸:

Ultra Small Branches may be set up between the base branch and BCs to provide support to about 8-10 BC units at a reasonable distance

14) Technology Applications:

· In an ICT (information and communication technology) enabled environment, technology is the main lever to achieve the eventual goal of financial inclusion at the earliest.

· ATM-Network: ATM Network in rural areas accounted for only 10.1% of total ATMs in the country as on March 31, 2013¹⁴. Banks should enhance their ATM network in rural and un-banked areas to serve poor villagers. While doing so, adequate care should be taken regarding safety/ security issues, which have come to the fore in recent times.

· Rupay Network: To reduce the overall transaction costs associated with small ticket transactions in rural areas, domestic RuPay cards may be utilized¹⁵.

· KCC/GCCs:To enable farmers to withdraw cash from ATMs anywhere in the country, banks need to convert KCCs/GCCs to electronic credit card. Further, banks may explore the possibility of issuing multipurpose cards which could function as debit cards, KCC and GCC as per the requirements in rural areas.

· Mobile Banking: In rural India, there are 323.27 million¹⁶ mobile subscribers as on March 2012 (TRAI Annual Report, 2012). To examine the options/ alternatives, including the feasibility of using encrypted SMS based funds transfer using an application that can run on any type of handset for expansion of mobile banking in the country, RBI constituted a committee (Chairman: B. Sambamurthy)

· Technology Service Providers (TSPs): There are a number of issues involving TSPs via-a-vis several banks.

Financial literacy

Financial literacy is defined as understanding how to manage money effectively. Financial literacy is the knowledge and skills to make informed decisions regarding money matters. Financial literacy helps an individual fulfill personal, family, social and governmental responsibilities.

What does it mean to be financially literate? It means that you know basic money principles. You understand financial principles such as interest rates, risk and return, credit management, guaranty, banking, insurance, time value of money and taxes.

When we talk about financial literacy, we are usually referring to a set of skills that allow people to manage their money wisely along with some understanding of essential financial concepts, not least an appreciation of the trade-off between risk and return. Financial Literacy is not just about markets and investing, but also savings, budgeting, financial planning, basics of banking and most importantly, about being "Financially Smart". To understand financial planning, a person should be financially literate and be able to understand the importance of preparing household budgets, cash-flow management and asset allocation to meet financial goals. Hence, the foundation of financial literacy needs to be laid by inculcating financial prudence through education at the school level.

Financial literacy is paramount in today’s market place. Consumers are confronted with complicated financial choices that may have huge implications for them and their families. For example, people must choose whether to rent or buy a home, whether to lease or buy a car, whether to insure property, health, and life and for how much, whether to save for education and retirement - how much and through which vehicles.

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Additional information

Features of business correspondent model

Business Correspondent (BC) Model

Eligibility to become a Business Correspondent :

As per the RBI guidelines, the following entities are eligible for appointment of

Business Correspondents (BCs) for banks:

q NGOs/ MFIs set up under Societies/ Trust Acts,

q societies registered under Mutually Aided Cooperative Societies Acts or the

Cooperative Societies Acts of States,

q Section 25 companies that are stand alone entities or in which NBFCs, banks,

telecom companies and other corporate entities or their holding companies did

not have equity holdings in excess of 10 per cent,

q post offices ,

q retired bank employees,

q ex-servicemen ,

q retired government employees.

q Individual kirana/medical/fair price shop owners

q Individual Public Call Office (PCO) operators

q Agents of Small Savings Schemes of Government of India/Insurance Companies

Individuals who own petrol pumps

q Retired teachers

q Authorised functionaries of well run Self Help Groups (SHGs) linked to banks

Non deposit taking NBFCs (non-banking finance companies) in the nature of

loan companies whose micro finance portfolio is not less than 80 per cent of their

loan outstanding in the financially excluded districts as identified by the

Committee on Financial Inclusion

q RBI has now permitted banks to engage any individual, including those

operating Common Service Centres (CSCs) as BC, subject to banks’ comfort

level and their carrying out suitable due diligence as also instituting additional

safeguards as may be considered appropriate to minimise the agency risks

Scope of Activities to be undertaken by BCs

The scope of activities undertaken by BCs are as under :

· Creating awareness about savings and other products and education and advice

on managing money and debt counseling.

· Identification of potential customers

· Collection and preliminary processing of various forms for deposits including

verification of primary information / data

· Filling of applications / account opening forms including nomination clause and

submission to the Bank.

· KYC will also be completed by the BCs.

· Opening of no frill deposit accounts and other products as permitted from time to

time by leveraging technology.

· Collection and payment of small value deposits and withdrawals ; Min : nil; Max :

Rs. 2000/- per transaction.

· Receipt and delivery of small value remittances / other payment instruments, as

per FI Plan of IDBI Bank.

· In respect of all such transactions, the BC/his agent will be authorized to accept

/ deliver cash either at his place of work or at any convenient location subject to the

ceilings per customer (Rs 2000/- in each case).

· Furnishing of mini account statements and other account information, for a

period of 3 months.

· Any other service on behalf of the Bank, duly authorized by the appropriate

authority.

· The activities undertaken by the Business Correspondents would be within the

normal course of the Bank’s banking business, but conducted through and by the

entities at places other than the Bank’s premises.

· In respect of all such transactions, the BC/his/her agent will be authorized to

accept / deliver cash either at his place of work or at any convenient location subject

to the ceilings per day / per customer as laid down. The Business Correspondents

will be linked to a nearby branch (base Branch).

· Cross-selling of other financial products like insurance / mutual fund products /

pension products / any other third party product, as and when they are assigned to

do so.

· In case duly appointed sub-agents of BCs, BCs to take care of reputational

risks involved

What is Social Media?

Social Media is the future of communication, a countless array of internet based tools and platforms that increase and enhance the sharing of information. This new form of media makes the transfer of text, photos, audio, video, and information in general increasingly fluid among internet users. Social Media has relevance not only for regular internet users, but business as well.
Platforms like twitter, Facebook, and Linkedin have created online communities where people can share as much or as little personal information as they desire with other members. The result is an enormous amount of information that can be easily shared, searched, promoted, disputed, and created.
The key question now being addressed by an ever growing number of social media “experts” is how to best utilize the unlimited amount of information available from social media sites for business advertising, social good, and who knows what else. One thing is for certain; personal data from social media usage will continue to be tracked and logged for the benefit of any business willing to pay for it, and any company that doesn’t invest in social media now will be playing catch-up in the near future.
Classification of social media

collaborative projects (for example, Wikipedia)
blogs and microblogs (for example, Twitter)
Social news networking sites (for example, Digg and Leakernet)
content communities (for example, YouTube and DailyMotion)
social networking sites (for example, Facebook)
virtual game-worlds (e.g., World of Warcraft)
virtual social worlds (e.g. Second Life)

Impact of social media

Social media has changed the world as we know it. Since the dawn of the first internet service in 1969, the power of the internet has grown into what we now call the Social Media Age. The magic of social media has changed the way the world has developed. Since the first email in 1971 to the first bulletin board sites developed on major Universities nation wide, social media has far surpassed expectations all over the globe. The power of social media is so widespread that more controlled nations hold tight constraints on its use. Nations like China and Iran ban certain sites and have massive control over the use of other methods of social networking.. When Mark Zuckerberg developed Facebook in 2004, he had no idea it would go beyond the walls of Harvard where the site was used strictly for networking within the university. In 10 short years, it has completely powered over all of its possible competitors and is used by corporations worldwide. The general thought is social media is a mandatory need in day-to-day business operations. Some consumers refuse to patronize businesses without a social media presence.

After ‘tech savvy’ it is the ‘social media savvy’ that has become synonymous with today’s generation. About 2/3rd of Indians online spend time on different social networking sites like Facebook, Twitter, YouTube, Pinterest, etc. Even the trend of sending personal emails seems to have become obsolete as compared to social media. But why is this media becoming so popular in India? Interaction, live chat, status updates, image- as well as video-sharing are few of the major aspects that play a role in the popularity of social media. On the other hand, customer’s responses, interaction and brand awareness is why the companies are using social media in India and across the globe. Thereby, multiple roles played by social media beyond its core role of mere communicating information are leading to its popularity.
Some say that social networking has brought better understanding of other cultures and is in some ways the cause of social understanding for everything from human suffering in lower developed societies to the social change we see today. Today the power of social media has been used in both positive and negative ways. We have all heard the horror stories of teens being harassed in school spilling over into their personal life online. But the positive opportunities have far outweighed the negative. Through sites like Facebook and Twitter, families have been reunited and lives have been saved. Utilizing page creation through Facebook, people have developed sites for those who wish to become organ donors.
Many researchers have indicated that social media would be stronger and more persuasive than television in influencing people.

"The social Web and social media have essentially become weapons of mass persuasion. You have large numbers of people interacting with each other, so you see not only spam but political campaigns involved in this. You see evidence of governments and hate groups engaging in this."

But one of the best things about social media is the way it can unite people behind causes and be a force for good. Its immediacy and accessibility has allowed it to contribute to everything from the Arab Spring to animal conservation.

Urban India had 78 million social media users in June 2013. The number rose to 91 million by December 2013, indicating the growing importance of social media.

The Role of Social Media
Indian Politics and Social Media
Social media is not only confined to you and me but to politicians as well. Through different activities politics and politicians in India have brought social media into the limelight. social media has played a huge role and influence on the recent general elections to a great extent.

In the sweeping victory of the Bharatiya Janata Party (BJP) in the recent Indian elections , social media played an important role, according to analysts who are calling the vote India’s first "social media elections."

By the time he was sworn in as prime minister, Narendra Modi had more than 16 million "likes" on Facebook, the second most for any politician in the world, and he was the sixth most followed world leader on Twitter

In a program called "organize online to assist offline," the BJP used the reach of social media to recruit volunteers, eventually enlisting 2.2 million.

All the recent lectures by Gujarat chief minister Narendra Modi got huge social media attention. He even hosted a political conference on Google+ hangouts and this makes him the third politician across the globe to do this after Obama and Australian PM Julia Gillard.
Shashi Tharoor is very active on Twitter and his tweets are quoted in mainstream media.
Few months back, you must have seen a page on Facebook seeking Dr. Abdul Kalam as president of India.
Then there was Anna Hazare’s Social Media Campaign against corruption in India.
. Social Media and Business
Role of social media in business and consumer market in India cannot be undermined. It is the change in consumers’ behavior that is changing the role of social media in India. With time, use of social media has seen a drastic change from just used for fun to fun plus knowledge and marketing. For business purposes, Facebook is the most important social media platform as there is customers’ engagement, followed by Twitter, YouTube and blogging. Social media is used by brands to build communities for interaction and spreading news.
A recent McKinsey study concludes that social technologies could potentially contribute $900 billion to $1.3 trillion in annual value to business.

So not only individuals but every organization, be it big or small, has an online presence on Facebook, Twitter, Pinterest, YouTube channels and other related social media platforms. 95.7% of organizations in India use social media to build communities, 76.1% for highlighting brand news, platform specific parameters such as number of likes, share, comments, people taking about the company are considered by 81% of the organizations to measure their success. As far as the budget is concerned, most of the organizations set budget below INR 10 million on their social media spending that makes 1-5% of their total marketing budget. Social media interaction provides useful information about the behavior of the customers to the organization on regular basis.
Social Media and Recruitment in India
Social media and recruitment go hand in hand with social media becoming an integral part of recruiting firms. These firms are using LinkedIn, Facebook and Twitter to find new employees and skills. So, gone are the days when for employment recruiters as well as employees used to rely on employment exchange and classified ads in the newspaper. Hiring through traditional media was based on gut feeling whereas through social media, it is based on interaction, communication and direct response. Most of the organizations have well planned strategies for talent acquisition through social media.
Social Media and IPL
Social media is also playing an active role in the Indian Premier League (IPL) by providing up to date and live information on sites like Facebook, Twitter, Google+ and Youtube. Teams are in constant touch with their fans through social media and there is great interaction. For IPL sponsors and brands, such an interaction and reach of social media is a boon. Thus there is no way to ignore social media for business and entertainment purposes.

FIRST BIMONTHLY MONETARY POLICY REVIEW DATED 1^ST APRIL 2014

HIGHLIGHTS

No change in policy rates and reserve ratio – Repo rate – 8% -Reverse repo 7% Bank rate and MSF 9% CRR 4% SLR 23%.
Break up of REPO eligibility changed

Overnight repo 7/14 days term repo total under LAF

Before .50 % .50% 1% of total deposits

After .25 .75 SAME .

Retail inflation measured by the consumer price index (CPI) moderated for the third month in succession in February 2014, driven lower by the sharp disinflation in food prices, although prices of fruits, milk and products have started to firm up. Excluding food and fuel, however, retail inflation remained sticky at around 8 per cent. This suggests that some demand pressures are still at play.
If inflation continues along the intended glide path, further policy tightening in the near term is not anticipated at this juncture.
In pursuance of the Dr. Urjit R. Patel Committee’s recommendation to de-emphasise overnight “guaranteed-access” windows for liquidity management and progressively conduct liquidity management through term repos, the Reserve Bank has decided to further reduce access to overnight repos under the LAF while compensating fully with a commensurate expansion of the market’s access to term repos from the Reserve Bank. The primary objective is to improve the transmission of policy impulses across the interest rate spectrum.
GDP growth is projected to pick up from a little below 5 per cent in 2013-14 to a range of 5 to 6 per cent in 2014-15 albeit with downside risks to the central estimate of 5.5 per cent.

Some of the recommendations of the Expert Committee to Revise and Strengthen the Monetary Policy Framework (Chairman: Dr. Urjit R. Patel) have been implemented, as mentioned below.

1) adoption of the new CPI (combined) as the key measure of inflation,

2) transition to a bi-monthly monetary policy cycle.

3) progressive reduction in access to overnight liquidity under the LAF at the fixed repo rate and corresponding increase in access to liquidity through term repos, and introduction of longer tenor term repos.

Following industry-wide concerns about asset quality and the consequential impact on the performance/profitability of banks, the Reserve Bank has extended the transitional period for full implementation of Basel III Capital Regulations in India up to March 31, 2019, instead of as on March 31, 2018. This will also align full implementation of Basel III in India closer to the internationally agreed date of January 1, 2019.

Banks should also not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to Basic Savings Bank Deposit Accounts and restore the services when the balances improve to the minimum required level. Banks should not levy penal charges for non-maintenance of minimum balances in any inoperative account

SECOND BIMONTHLY MONETARY POLICY REVIEW DATED 3^rdJune 2014

No change in Policy rates and CRR -- REPO -8% Reverse REPO -7 % Bank rate and MSF 9% CRR -4%
SLR to be reduced by 50 basis point from 23 to 22.5% wer 14^th June 2014 .
reduce the liquidity provided under the export credit refinance (ECR) facility from 50 per cent of eligible export credit outstanding to 32 per cent with immediate effect; ( As recommended by Dr. Urjit Patel committee’s recommendations)
introduce a special term repo facility of 0.25 per cent of NDTL to compensate fully for the reduction in access to liquidity under the ECR with immediate effect; and
continue to provide liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system.
For the year 2013-14 as a whole, India’s current account deficit (CAD) narrowed sharply to 1.7 per cent of GDP, primarily on account of a decline in gold imports, although other non-oil imports also contracted with the weakening of domestic demand, and there was some pick-up in exports.
The Reserve Bank remains committed to keeping the economy on a disinflationary course, taking CPI inflation to 8 per cent by January 2015 and 6 per cent by January 2016. If the economy stays on this course, further policy tightening will not be warranted. On the other hand, if disinflation, adjusting for base effects, is faster than currently anticipated, it will provide headroom for an easing of the policy stance.
As the economy recovers, investment demand and the need for credit will pick up. To the extent that this contributes eventually to supply, it is important that banks have the room to finance it. A reduction in the required SLR will give banks more freedom to expand credit to the non-Government sector. However, the Reserve Bank is also cognisant of the significant on-going financing needs of the Government. Therefore, the SLR is reduced by 0.50 per cent of NDTL, with any further change dependent on the likely path of fiscal consolidation.
In view of the recent stability in the foreign exchange market, it has been decided to enhance the eligible limit for foreign exchange remittances under the Liberalised Remittance Scheme from US$ 75,000 to US$ 125,000 without end use restrictions except for prohibited foreign exchange transactions such as margin trading, lottery and the like.
At present, only Indian residents are allowed to take Indian currency notes up to `10,000 out of the country. Non-residents visiting India are not permitted to take out any Indian currency notes while leaving the country. With a view to facilitating travel requirements of non-residents visiting India, it has been decided to allow all residents and non-residents except citizens of Pakistan and Bangladesh to take out Indian currency notes up to `25,000 while leaving the country

What is window dressing

A strategy used by mutual fund and portfolio managers near the year or quarter end to improve the appearance of the portfolio/fund performance before presenting it to clients or shareholders. To window dress, the fund manager will sell stocks with large losses and purchase high flying stocks near the end of the quarter. These securities are then reported as part of the fund's holdings.

Window dressing may make a fund appear more attractive, but you can't hide poor performance for long.

Window dressing in banks

Before sliding into bankruptcy in 2008, Lehman Brothers Holdings Inc. reduced its reported quarter-end borrowing by classifying repo loans as sales,

Financial institutions have become sensitive about showing high levels of risk on their books, as the financial crisis has led investors and regulators to focus on some firms' levels of borrowing and risk-taking.

Three big banks Bank of America Corp., Deutsche Bank AG and Citigroup Inc are among the most active at temporarily shedding debt just before reporting their finances to the public, a Wall Street Journal analysis shows.

Over the past 10 quarters, the three banks have lowered their net borrowings in the "repurchase," or repo, market by an average of 41% at the ends of the quarters, compared with their average net repo borrowings for the entire quarter, according to an analysis of Federal Reserve data. Once a new quarter begins, they boost those levels.

Raghuram Rajan warns state-run banks against year-end window-dressing

The practice of "window dressing" by state-run banks towards the end of every financial year to meet performance objectives came in for sharp criticism from Governor Raghuram Rajan on Tuesday, who said the Reserve Bank will not "bail out" lenders for their bad policies in future.

What happens towards the end of the year is banks are trying to build a certain kind of balance sheet for a variety of reasons," he said, adding that some lenders reduce their risk-weighted assets to lower their capital requirements, while some state-run banks increase their assets in order to meet performance targets set by the government.

What is corporate

Corporate means Pertaining to corporations. Corporations are the most common form of business organization, having many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners. The process of becoming a corporation, called incorporation, gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued (a condition known as limited liability). Incorporation also provides companies with a more flexible way to manage their ownership structure. In addition, there are different tax implications for corporations, although these can be both advantageous and disadvantageous. In these respects, corporations differ from sole proprietorships and limited partnership.

The Difference Between a Corporation & a Company

A company is any entity that engages in business and can be a proprietorship, partnership, Limited Liability company or corporation.

A sole proprietorship is a business comprised of one individual and is not considered a formal organization. Legally, this type of business does not exist separately from its owner. The sole proprietor pays taxes on revenue from the business under his or her own name and is solely responsible for the financial operations of the company, including the payment of business debts. If the business is sued, the owner's personal resources will be at risk.

A general partnership is similar in structure to a sole proprietorship except that this structure involves two or more people. Each partner pays his or her own taxes separately, using his own social security or tax ID number, but the company does not exist as a separate entity. Therefore, the financial resources of the business partners could be at risk in the event of a lawsuit.

A limited liability company is neither a partnership nor a corporation, but it has some characteristics of both. The owners are able to participate in business decisions, as in a partnership, but an LLC offers some protection of the individual assets of its owners. The flexibility of the LLC has made it a popular choice among business owners.

A corporation is a business entity that legally exists separately from its owner(s). The owners of a corporation are shareholders; their percentage of ownership in the business is represented by their corporate stocks or shares. Shareholders can choose a board of directors to manage business operations, or they can create a shareholders' agreement, which will allow them to manage the business directly.

Generally speaking corporate means a big company , catering to a wider range of stakeholders in a country or society. A corporation is a type of company, but all companies can not use the word corporation. There are certain rules on the basis of which companies are given corporation status. Mostly public limited (Government owned) companies are formed as corporations .

Why Public sector banks are not governed by Companies Act or Why they are not treated as companies.

public sector banks are corporations established under the Act of Parliament;(Nationalisation act) they are not companies. And company law is not applicable to them. The entire provisions relating to shareholding, rights of shareholders, voting rights of shareholders, rights of the central government to constitute the board of directors everything is provided by the Bank Nationalisation Act .

What is Governance?

3. What exactly is Governance? Governance, in general terms, means the process of decision making and the process by which decisions are implemented (or not implemented)², involving multiple actors. Good governance is one which is accountable, transparent, responsive, equitable and inclusive, effective and efficient, participatory and which is consensus oriented and which follows the rule of law.

What is Corporate Governance

Corporate governance refers to the set of systems, principles and processes by which a company is governed. They provide the guidelines as to how the company can be directed or controlled such that it can fulfil its goals and objectives in a manner that adds to the value of the company and is also beneficial for all stakeholders in the long term. Stakeholders in this case would include everyone ranging from the board of directors, management, shareholders to customers, employees and society. The management of the company hence assumes the role of a trustee for all the others.

What are the principles underlying corporate governance?

Corporate governance is based on principles such as conducting the business with all integrity and fairness, being transparent with regard to all transactions, making all the necessary disclosures and decisions, complying with all the laws of the land, accountability and responsibility towards the stakeholders and commitment to conducting business in an ethical manner. Another point which is highlighted in the SEBI report on corporate governance is the need for those in control to be able to distinguish between what are personal and corporate funds while managing a company.

Why is it important?

Fundamentally, there is a level of confidence that is associated with a company that is known to have good corporate governance. The presence of an active group of independent directors on the board contributes a great deal towards ensuring confidence in the market. Corporate governance is known to be one of the criteria that foreign institutional investors are increasingly depending on when deciding on which companies to invest in. It is also known to have a positive influence on the share price of the company. Having a clean image on the corporate governance front could also make it easier for companies to source capital at more reasonable costs. Unfortunately, corporate governance often becomes the centre of discussion only after the exposure of a large scam.

Why are independent directors important for good corporate governance?

Independent directors are the trustees of good corporate governance. An active and involved board consisting of professional and truly independent directors plays an important role in creating trust between a company and its investors, and is the best guarantor of good corporate governance. Increasingly, institutional investors, both in India and internationally, are closely scrutinising the corporate governance practices and the quality of boards before taking investment decisions. As Indian companies look towards accessing funds from foreign institutional investors and tapping global financial markets, the credentials of their independent directors will become important.

Finally, competent and qualified independent directors play an important role in the stewardship and strategy formulation of companies. Indian corporates that have appointed such directors to their Board have benefited immensely from their guidance and inputs.

Corporate Governance in Banks

While good governance is essential for any entity, it has deeper significance for financial institutions. There are many compelling reasons, some of which are:

a. Financial institutions are central to economic activity – banks and a large part of the non-banking financial system (the shadow banking system) undertake credit intermediation. Failures of financial institutions would thus impede the economic growth and would cause serious damage to the system. Economies take longer time to rebound from financial crisis than the business cycle recessions.

b. Financial institutions operate on a higher leverage. Higher leverage makes financial intermediaries more vulnerable to shocks. it is apparent that these financial institutions must be well governed for achieving financial stability.

c. Financial institutions, especially banks, deal in people’s savings and trust of customers forms the cornerstone of their existence. Good governance ensures customers’ and other stakeholders’ trust in banks and non-banking financial intermediaries.

d. Among the financial intermediaries, banks occupy a special place due to their centrality in the transmission of monetary policy and the functioning of the payment and settlement systems. Good corporate governance would ensure strong internal controls.

The whole area of corporate governance could be considered as a mix of various segments⁴ namely, regulatory governance, market governance, stake holder governance and internal governance. Regulatory governance refers to control exercised by regulators over firms through statutes, policies and regulations. Market governance denotes the use of market based controls which discipline the corporate behaviour. While stakeholder governance means the direct or indirect control by various stakeholder groups having direct or indirect interest in the corporations, internal governance refers to the institutional arrangement of checks and balances within the corporation.

Banking regulation in India shifted from prescriptive mode to prudential mode in 1990s, which implied a shift in balance away from regulation and towards corporate governance. Banks are accorded greater freedom and flexibility to draw up their own business plans and implementation strategies consistent with their comparative advantage. This freedom necessitated tighter governance standards requiring bank boards to assume the primary responsibility and the directors to be more knowledgeable and aware and also exercise informed judgement on various strategies and policy choices. With a view to strengthen corporate governance, over a period of time, various guidelines have been issued in matters relating to the role to be played by the Board, fit and proper criteria for the directors of banks, bifurcation of the post of Chairman and Managing Director (CMD), remuneration etc.

To ensure that ownership and control of banks are well diversified, guidelines on ownership and governance in private sector banks were issued by the Reserve Bank in February 2005. Another important regulatory prescription in this regard is the requirement of Reserve Bank’s prior approval for any acquisition of shares in private sector banks resulting in a shareholding of 5 per cent or more of the total paid up capital of the bank.

The importance of diversified ownership is also underlined in the recent guidelines on new bank licenses wherein it is stipulated that Non-Operative Financial Holding Companies (NOFHC) which set up new banks should, after the initial lock in period of five years, bring down their equity capital of the bank from the minimum 40% while setting up to 15% within 12 years. To ensure ‘Fit and Proper’ status of the groups that would set up new banks, it is also stipulated that entities / groups should have a past record of sound credentials and integrity, be financially sound with a successful track record of 10 years.

Governance, like regulation, is an evolving concept and is continuously fine tuned to suit the dynamic economic and business environment. Global financial crisis has given us an opportunity for strengthening both the regulatory as well as governance frameworks, by highlighting gaps that made the crisis worse. There is an interesting debate over whether and how much regulation can substitute board level governance. While regulation is imposed from outside, corporate governance is internal and is more in the nature of self regulation which ensures that the principles and rules laid down by the regulations are scrupulously adhered to. Prior to the crisis, the emphasis was increasingly on self regulation through robust corporate governance so that the regulation could remain largely principle based and less prescriptive. However, serious lapses observed in governance framework during the crisis, tilted the balance in favour of more rigorous regulation. I am of the view that both regulation and corporate governance have to complement each other. Effective regulation furthers corporate governance and effective corporate governance ensures that the objectives of the regulation are met, with minimal regulatory intervention.

RBI suggests Public sector banks governance reforms to Finance ministry (1^stApril 2014)

The Reserve Bank of India (RBI) has recommended the Centre reduce its holdings in public sector banks. This, it says, is essential for robust corporate governance practices, considering these lenders’ deteriorating asset quality and rating downgrades.

The recommendation is part of a detailed blueprint for sweeping reforms in public sector banks, prepared by the central bank. The recommendations are being discussed with the finance ministry and will be taken up with the next government on a priority basis.

Stressing the importance of granting complete autonomy in the day-to-day operations of public sector banks so that these could effectively compete with their private sector peers, RBI said such autonomy was contingent upon the government reducing its stake, especially at a time when the Centre was resorting to borrowing for capital infusion in these banks.

REFORM AREAS

Governance issue: Splitting chairman & managing directors’ post
Corporate governance: RBI & govt to dissociate from selection of top management
Public sector bank board: RBI & govt should withdraw from boards
Auditors: CA director should not be a part of management committee
Fixed period: Chief executives should be given 5-year terms
Remuneration: Market-based remuneration, accompanied with stringer accountability, including clawback clauses
Incentive structure: Incentives/bonuses should be paid over few years and not immediately
HR issues: Need to reassess number of EDs/general managers in each bank
HR appraisal policy: Performance linked remuneration
Holding company: To begin with, such structure could be experimented with slammer PSBs

P J Nayak Committee on Governance of Boards of Banks in India (Governance reforms) Report submitted on 12th may 2014

The Committee to Review Governance of Boards of Banks in India (P.J. Nayak Committee) submitted a report recently. Its terms encompass all categories of banks and if its recommendations are implemented, it would fundamentally change the face of state owned banks, while making incremental changes in the governance of private banks.

The present composition of the boards of public sector banks (PSB) could theoretically be termed as a model in corporate governance. The boards represent diversity (except on gender) and multiple public interests. A typical PSB bank has three directors representing minority (non-government) shareholders' interests; three directors who are expected to represent societal interests; a director each representing the union government, workmen, officers, and regulator (RBI). In addition an independent chartered accountant is appointed as a director and the person usually heads the audit committee. The bank also has three or four whole-time directors including the Chairman and Managing Director (CMD).

While the above composition looks good, there is still a huge problem. This problem is about the process of identifying individuals to represent these diverse interests. The Nayak committee rightly identifies it. It terms the boards as "non-independent" except for the shareholder directors. The process of the election of even these so called "independent" directors may also show that they are largely nominees of the government, albeit through a different process. They are elected by shareholders excluding the government. The non-government share-holding in many of the banks are substantially held by institutions indirectly controlled by the government - insurance companies, financial institutions etc. These institutions largely select the "independent" directors as well. We thus have a situation where the public sector banks end up not having a semblance of good corporate governance.

Following are the key commendations of the panel:

*Given poor asset quality and low productivity, either privatize PSU banks or transform governance structure to make them efficient.

*Reduce government stake in PSU banks to less than 50 percent

*Remove dual structure of both Finance Ministry and RBI regulating PSU banks. Give all regulatory authority to RBI

*Improve quality of PSU bank board discussions; focus on key areas like business strategy, financial reports, risk, and compliance.

*The government should transfer its stake in PSU banks to a holding company termed Bank Investment Company

*Government should reduce its stake in BIC to under 50 percent and appoint a professional management for BIC

*For better accountability, BIC should be governed by The Companies Act 2013, and not the Bank Nationalisation Acts of 1970 and 1980

*Ownership functions to be transferred by BIC to the bank boards. Appointments of directors, CEO to be the responsibility of bank boards.

*Have uniform bank licensing regime across all broad-based banks, and niche licenses for banks with more narrowly defined businesses

*Allow mutual funds , pension funds, PE funds to hold 20 percent in private sector banks, without having to take RBI approval

*Allow promoter investors to hold up to 25 percent in private sector banks, against the 15 percent ceiling currently

*Ensure a minimum five-year tenure for bank Chairman and a minimum three year tenure for Executive Directors

*Private equity funds, including sovereign wealth funds, be permitted to take a controlling stake of upto 40 per cent in distressed banks

*Allow voting rights in proportion to the stake held

*Bank officers guilty of ever-greening loans (offering new loans to repay old ones) should be penalized financially

Criticism of PJ Nayak committee’s recommendations

It is too theoretical and biased against public sector banks. Its timing of submission (just a few days before the elections results ) and its open endorsement by RBI governor has not gone down well with its stakeholders.
It completely overlooks the contribution of bank’s nationalization act and PSBs in the equitable and inclusive growth of India, post independence. It is based on pure commercial considerations disregarding society as a stakeholder in banking services.
The private bank model is pro-urban, pro-educated and pro- elite class and was good enough to create a competitive alertness in PSBs, but beyond this it is not suitable to Indian requirements.
Private banks follow no ethics, rules or precautions to get the business growth and their operations are more prone to frauds. These banks take more than prudent risks in their investments and policies. It can be seen by comparing impact of recession 2008-09 on public and private sector banks.
Financial inclusion will take a big hit , if PSBs are run like private banks.

CAPITAL FUNDING OF BANKS THROUGH CREATING A HOLDING COMPANY.

This week the Banking Secretary said the government cannot give PSU banks too much money from the Budget, instead the government wants to transfer its shares in PSU banks to a holding company and raise money through that company to capitalise public lenders. A holding company idea has been in the works even before the PJ Nayak committee made the same recommendation but with a vastly different purpose, not to raise money but to put some distance between government as shareholder and the bank boards.

PSU banks need around Rs 2.4 lakh crore on a five-year estimate. The Vote on Account (Temporary Budget 2014-14) has set aside only Rs 11,000 crore, which is clearly inadequate. “Proper capital planning itself demands that they (PSU banks) at least need to raise about Rs. 30000 crore alone this year.

A holding company cannot be constituted under the Companies Act as public sector banks are corporations established under the Act of Parliament and are not companies. They need a separate Act with powers which will be more in sync with the Bank Nationalisation Act. We do have a five-year estimate which is closer to about USD 40 billion or Rs 240,000 crores kind of an amount which is required. It is difficult to put in an estimate only for a year because the Basel 3 regulations become more demanding towards the later years of implementation. So nearly 70 to 80 percent of this Rs 240,000 crores will be required in the last three years of implementation

What is a holding company

A holding company is a type of investment company that owns other assets and investments. A holding company itself doesn’t do anything. It owns things.e.g., Bank of America is actually a bank holding company, owning control of the stock of other private companies including the eponymous bank, insurance businesses, asset management companies, securities underwriters, and more. That is, when you buy shares of Bank of America on the New York Stock Exchange, the company you are buying doesn’t do anything itself. It is merely a conduit through which it controls and owns the stock of underlying businesses.

How holding company can work for banks

The Holding company model for holding of banks shares had come up many times in the past as well. But the purpose of Finance ministry is not intended to loose or lessen the control over banks but to solve the problem of raising more capital for banks without stressing government’s regular budget.

A holding company structure will give banks better access to capital ,While the government may hold more than a 51 percent stake in the holding company, there is scope for cutting the holding company’s stake in the banks below 51 percent to raise capital from the market.”

PROBLEMS OF NPA IN BANKS

The Indian banking sector accounts for a major portion of financial intermediation and is considered to be the main channel of monetary policy transmission, credit delivery and payment systems. The stability and sound health of the banking system hence is a key pre-requisite for overall economic development and financial stability.

NPAs affect the operational efficiency, which in turn affects profitability, liquidity and solvency position of banks (Michael, et al, 2006). The consequences of NPAs would be reduction in interest income, high level of provisioning, stress on profitability, gradual decline in ability to meet steady increase in cost, increased pressure on net interest margin (NIM) thereby reducing competitiveness, steady erosion of capital resources and increased difficulty in augmenting capital resources .

NPAs generate a vicious cycle of effects on the sustainability and growth of the banking system, and if not managed properly could lead to bank failures. Empirical evidence indicates a relationship between bank failures and higher NPAs worldwide.

The problem of NPAs is related to several internal and external factors confronting the borrowers. The internal factors are diversion of funds for expansion, diversification and modernisation, taking up new projects, helping/ promoting associate concerns, time/cost overruns during the project implementation stage, business (product, marketing, etc.) failure, inefficient management, strained labour relations, inappropriate technology/technical problems, product obsolescence, etc., while external factors are recession, non-payment in other countries, inputs/power shortage, High interest rates, price escalation, accidents and natural calamities. The neglect of proper credit appraisal, lack of follow-up and supervision, recessional pressures in economy, change in government policies, infrastructural bottlenecks, and diversion of funds are the major causes of NPAs.

credit boom in the pre-crisis period, partly driving the asset quality impairment
Growth slowdown adding to the stress on asset quality
Hardening of lending rates contribute partially to growing NPAs
Non-priority sector contributes substantially to weakening asset quality
Growing share of agriculture in total NPAs -- Interestingly, share of agriculture (average) in total NPAs remains lower than that of SSIs and other priority sectors. Nevertheless, the share of agriculture and other priority sectors in aggregate NPAs increased, while that of SSIs declined during the post-crisis period.
Personal loans account for the bulk of retail NPAs
Infrastructure and power witness escalation in asset quality impairment
Public sector banks and foreign banks mainly contribute to recent acceleration in NPAs
Inadequate appraisal and lax monitoring resulting in asset quality impairment

STATUS OF NPA/STRESSED ASSETS IN BANKS

SCB –scheduled commercial banks GNPA Gross NPA PSB Public sector banks

OPB Old Private banks NPB New Private banks FB Foreign Banks

Asset quality continues to be a major concern for SCBs. The GNPA ratio of SCBs increased to 4.2 per cent as at end September 2013 from 3.4 per cent of March 2013. The restructured standard advances also increased to 6.0 per cent of total advances as at end September 2013 from 5.8 per cent of March 2013. Overall the stressed advances¹⁹ rose significantly to 10.2 per cent of total advances as at end September 2013 from 9.2 per cent of March 2013 (Chart 2.13).
Among the bank-groups, the public sector banks continue to have distinctly higher stressed advances at 12.3 per cent of total advances, of which restructured standard advances were around 7.4 per cent (Chart 2.13).

RBI ACTION PLAN ON NPA Management

The Reserve Bank of India, has come out with a corrective action plan to minimise rising non-performing assets (NPAs). The plan would include incentivising early identification of problem cases, timely restructuring of accounts, which are considered to be viable, and taking prompt steps by banks for recovery or sale of unviable accounts.

RBI would set up a Central Repository of Information on Large Credits (CRILC) to collect, store, and disseminate credit data to lenders.Banks will have to furnish credit information to CRILC on all their borrowers having aggregate fund-based and non-fund based exposure of Rs.5 crore and above.

The RBI said that before a loan account turns into an NPA, banks should identify initial stress in the account by creating a new sub-asset category, ‘Special Mention Accounts’ (SMA). Within the SMA category, there should be three sub-categories: SMA-NF non-financial (NF) signals of incipient stress; SMA-1 principal or interest payment overdue between 31-60 days; SMA-2 principal or interest payment overdue between 61-90 days.

A joint lenders forum JLF would be formed for all distressed corporate borrowers with joint xposure form more than one banks.

A Countercyclical dynamic provisioning is proposed to withstand frequent upturn and downturn of economic cycle.

The RBI further said that “wilful defaulters will normally not be eligible for restructuring.”

Willful defaulter and NPA recovery

Wilful defaulters are those borrowers who have defaulted on loan repayment to banks despite having adequate cash flows and a healthy net worth. The ones who have not utilised the funds borrowed for specific purposes and diverted those for other purposes have also been categorised as wilful defaulters by the Reserve Bank of India (RBI).

The then Finance minister P Chidambaram said “We cannot have an affluent promoter and a sick company.”

As part of its strategy to contain bad debts, the Finance Ministry has directed all public sector banks to accord top priority to cases of fraud and wilful default, and take legal action against those responsible.
Banks were asked to recover dues from the top 50 defaulters as the first step. Banks have been asked to furnish the information of the top-50 immediately.

Willfull default should be treated as fraud as both are intentional in nature.

For wilful defaulters future borrowing will become more expensive,

No additional loans facilities to defaulters.

Banks to bar promoters of defaulting companies from institutional finance for floating new ventures for a period of 5 years.

About a third of NPA reduction is due to comprise while writing off a loan
Banks to form board level committee to monitor recovery process of willful defaulter

How to reduce NPAs

· Ex Deputy Governor went on to say that NPA is nothing but Non Performing Administration, therefore Banks should undertake proper scrutiny and analysis of loan proposal , its viability and return generation capacity , should factor in the sectoral or market risk of the project. Should properly supervise the loan utilization and keep a vigilant follow up of business activities .

· Government should nor interfere in banks lending decisions.

· More Debt recovery tribunals should be formed and cases should be expedited.

· Willful defaulters should be dealt with firmly as per RBI and FM directives.

· Restructuring should be prudent and need based.

· Securitization act 2002 should be invoked and fully exploited.

· All required reporting to RBI , Finance ministry, CIBIL etc. should promptly be made.

· Joint actions by banks should be initiated in case of default involving more than one bank.

MINIMUM GOVERNMENT MAXIMUM GOVERNANCE

(Prime minister Narendra modi himself explains his view point about his concept of Governance )

Speaking at the Think India meet of Network 18, Modi kicked off his speech with a clarification about what he meant when he said ‘minimum Govt, maximum governance'. Modi said he advocated a 'right size of Govt'.

Here are some highlights –

"None of our government services are rationalized. They are engaged or disengaged based on various pressures until their use is completely lost. So many pressures affect our services that the common man has lost all faith in Govt services."

"No religious person ever doubts whether the sun will rise every morning, since they believe that is controlled by God. They do not sense any discrimination, since sunlight enters slums as freely as it does mansions. There are no protests that the sun rises earlier in the East than the West, since every one understands that every one gets about 12 hours sunlight equally."

"Govt services lack this kind of certainty, this sense of equality and this sense of fairness. This is why people lack faith in it. But we must try to make Govt services that fair and assured."

"In our country, our Government is packed with clerks and unnecessary officers, even when projects require less clerks and more technical people. This unending bureaucracy weighs down all projects."

"Believing in ‘right size’ of Govt, in Gujarat we gave incentives to wards to lower the numbers of their bureaucracy and increase their efficiencies. We told them to meet certain human resource targets and only then will they get certain grants. Things began to change almost immediately."

"We are increasing the size of the Govt, but not the accountability. There are no advantages to the common man at all. This happens in commissions especially, which are made only to pander certain sections, but do not function as expected."

"There is a mentality that those in Government are the givers, while the common man is a receiver of alms. This is a great crime, I believe. In a democracy how can the elected imagine that he is a giver? This attitude merely increases a bad attitude within the people."

"We clean our ancient scooters, however broken-down they are. We polish them until they shine. However, when we travel by the bus, we damage the seating and the cushions simply because we are bored. We never feel the pride of ownership for public things. Be it public schools or public hospitals, the public is apathetic about public utilities

Not only public-private partnerships, India needs public-private -people partnerships. We must involve the people in our decisions. This will increase a sense of ownership. If possible we should try to convince them, take their consent for projects. This makes them a partner to the process, thereby reducing costs and time taken to implement projects. This also increases pride in public projects. We need to focus on such things. - Modi@ Think India

What is needed to bring change in India? An old Congress minister once said it best - Ministers need to say no, civil officers need to say yes. , commenting on ministers habits of promising many things, but civil officers inability to deliver most things.

The more we use technology in our deliver systems, the better, faster can we improve governance

The lack of transparency increases mistrust and unhappiness in the public. This is what causes huge gaps between the people and their government. We must fill in these gaps."

"Centralization of power is derailing the entire system" Modi explaining the point of decentralization through an example of how he his fighting with the Centre just to install gas pipelines in Gujarat. (A big dig at Centre-State relations there.)

"We must remove Government from unnecessary areas. In Gujarat for example, we removed the need for government inspectors to go certify boilers in factories. We began accepting private company certificates on the safety of boilers. This removed Government from the scene and increased efficiency", Modi said, stressing his original point that governments must be small and focused on core areas, instead of being large and impractical.

"Government means rules and Governance means delivery. Government implies authority while governance implies accountability. Government is power while governance is empowerment. Where there is files...that is Government. Where there is life that is governance. We must fill the files with life. Governments can be tangled in files, governance must make life better"

"Governance is about outcome...All the governments only discuss outley and not the outcome from it," he said, adding that soci-economic impact needed to be measured to ensure funds were being used effectively.

"It isn't enough to put up facilities, it is equally important to improve the people's quality of life," Modi said.

He spoke about Sabarmati river front project and says it gave them carbon credits, improved the water table and reduced diseases in Ahmedabad.

"If we measure socio-economic benefits then it will improve our impact," he said.

Global remittance flow

India has topped the global chart of remittances with a whopping $71 billion in remittances in 2013, according to a revised World Bank forecast.

Top recipients of officially recorded remittances for 2013 are India (with an estimated $71 billion), China ($60 billion), the Philippines ($26 billion), Mexico ($22 billion), Nigeria ($21 billion), and Egypt ($20 billion), the report issued on Wednesday said.

"These latest estimates show the power of remittances," said Kaushik Basu, senior vice-president and chief economist of the World Bank.

"For a country like Tajikistan they constitute half the GDP. For Bangladesh remittances provide vital protection against poverty. In terms of volume, India, with $71 billion of remittances, tops the global chart.

In India , Kerala topped the state lists in getting foreign remittances.

SAARC

SAARC has gained special importance since Shri Narendra modi invited all saarc leaders on his swearing in ceremony.

The South Asian Association for Regional Cooperation (SAARC) is an economic and geopolitical cooperation among eight member nations that are primarily located in South Asia continent.^[10] Its secretariat is headquartered in Kathmandu, Nepal.

It was founded on 8^th Dec. 1985 with seven members . Afghanistan joined later on .

Afganistan joined the SAARC as an eighth member state, despite initial reluctance and internal debates as it is geographically a Central asian country and not a south asian country. The inclusion of Afghanistan as SAARC member was announced in New Delhi on 4 April 2007 by Indian Prime Minister Manmohan Singh.It has eight permanent members

Current members

Afghanistan
Bangladesh
Bhutan
India
Maldives
Nepal
Pakistan
Sri Lanka

And nine Observers

Australia^[47]
China
European Union^[48]
Japan^[48]
Iran
Mauritius^[49]
Myanmar
South Korea
United States^[50]

Governance and Leadership of SAARC

Image	Officeholder	Title	State	Party
	Hamid Karzai	President	Afghanistan	Independent
	Sheikh Hasina	Prime Minister	Bangladesh	Awami League
	Tshering Tobgay	Prime Minister	Bhutan	People's Democratic Party
	Narendra Modi	Prime Minister	India	Bharatiya Janta Party
	Abdulla Yameen	President	Maldives	Progressive Party of Maldives
	Sushil Koirala	Prime Minister	Nepal	Nepali Congress
	Nawaz Sharif	Prime Minister	Pakistan	Pakistan Muslim League (N)
	Mahinda Rajapaksa	President	Sri Lanka	Sri Lanka Freedom Party

Last and next Summit

17th	10–11 November 2011	Maldives	Addu	Mohammed Nasheed
18th	November 2014	Nepal	Kathmandu	Sushil Koirala

OBJECTIVES

The objectives of the ASSOCIATION shall be:

Article I

a) to promote the welfare of the peoples of SOUTH ASIA and to improve their quality of life;

b) to accelerate economic growth, social progress and cultural development in the region and to provide all individuals the opportunity to live in dignity and to realise their full potentials;

c) to promote and strengthen collective self-reliance among the countries of SOUTH ASIA; d) to contribute to mutual trust, understanding and appreciation of one another's problems;

e) to promote active collaboration and mutual assistance in the economic, social, cultural, technical and scientific fields;

f) to strengthen cooperation with other developing countries;

g) to strengthen cooperation among themselves in international forums on matters of common interests; and

h) to cooperate with international and regional organisations with similar aims and purposes.

Gabriel García Márquez ‘gabo’

was a Colombian novelist, short-story writer, screenwriter and journalist, known affectionately as Gabo throughout Latin America. He was awarded the 1972 Neustadt International Prize for Literature and the 1982 Nobel Prize in Literature.

· He was best known for his novels, such as One Hundred Years of Solitude (1967), The Autumn of the Patriarch (1975) and Love in the Time of Cholera (1985). His other famous works are , The General in His Labyrinth (1989 Of Love and Other Demons, Chronicle of a Death Foretold.

García Márquez was the first Colombian and fourth Latin American to win a Nobel Prize for Literature

Nationality : COLOMBIAN Language of his work : Spanish

GIRO based CENTRALISED BILL PAYMENT SYSTEM

Entymologically GIRO is derived from the Greek word gyros which means a circle. The Italians borrowed the term and used it in the sense of “circulation of money”. And then the good old Germans came and turned into a fiscal bacronym, that is, they took an existing word and retro-fitted it into an acronym. They called it the Government Internal Revenue Order, or simply GIRO.

In its original form, GIRO is a payment instruction from one bank account to another that is initiated by the payer, and not by the payee (that is, the person who receives the money). But in its expanded form, a GIRO payment system — which the Reserve Bank of India now wants to formalise — will cover any third party payment made through any payment mode: cash, cheque, credit/debit cards, prepaid payment instruments.

Giro system was prevalent in many countries, even before the introduction of electronic payment systems like RTGS , ECS , INTERNET Banking, mobile banking etc. The current spread of payment systems in India managed by National payment Corporation of India is already providing services similar to GIRO based system, but its coverage is fragmented and is largely confined to country’s techno savy population .

The RBI formed a committee under its executive director G. Padmanabhan to examine the feasibility of implementation of an electronic GIRO payment system in the country.

committee came out with its report that estimates that over 30,800 million bills are generated each year in the top 20 cities in the country. Cash and cheque collections constitute over 90 per cent and electronic payments through ECS continue to be low.

The committee has proposed to create an interoperable, integrated bill payment system in the country that will:

■ offer consumers a single bill payment point, not far from their place of work or residence, which will enable payment of any bill at any place;

■ allow consumers to make payment by cash, cheque, credit/debit cards, prepaid payment instruments at the bill payment points;

■ include any bank branch, post offices, business correspondents, retail agents of aggregators, ATMs, etc

■ facilitate payment of bills through internet banking, mobile banking and IVRS

Based on the recommendations of the earlier Committee (Chairman Shri G. Padmanabhan, Executive Director, RBI) to study the feasibility of implementation of GIRO based payment systems, the present GIRO Advisory Group (GAG) was formed by the RBI under the Chairmanship of Prof. Umesh Bellur, IIT Bombay.

Accordingly, the GAG recommends a tiered structure where the Bharat Bill Payment Services (BBPS) will be the authorised standard setting body (also handling settlement functions) while the Bharat Bill Payment Operating Units (BBPOUs) will be the authorised operational units, working in adherence to the standards set by the BBPS.

Hence, the BBPS will function as a ‘not-for-profit’ organisation (like the NPCI or any other similar entity) which has necessary experience in the payment systems space, while the BBPOUs may be operated on commercial lines by existing entities in the bill payments space as well as new entities interested in this segment. The BBPS will also handle the settlement responsibilities arising out of the transactions in the system.

2014-03-31T23:28:00.001-07:00

STATE BANK PO EXAM SCHEDULE ANNOUNCED

AN INTERACTIVE SESSION BETWEEN SUCCESSFUL CANDIDATES AND FUTURE ASPIRANTS WILL BE HELD AT BARGAD ASHRAM ON 6th April SUNDAY AT 9 AM .

FINAL RESULTS OF IBPS PO AND CLERK DECLARED
Congratulations and blessings to successful candidates
All others to tighten their belts and try even harder this time.

The following candidates have conveyed their suceess in the examination.

IBPS PO

1) Yash Chunekar - --- Bank of India
2) Preeti Singh --- Bank of Baroda
3) Shailendra Hanumantaiya -- Canara Bank

IBPS Clerk

1) Poorva Gupta ---- Bank of Baroda
2) Yogita Torani ----- Bank of India
3) Rachna Neema --- Bank of India
4) Shailendra Hanumantaiya ---- Bank of India

From Interview batches
clerical
1) Utkarsh Prasad --- Bank of India
2) Anil Jatwa -----Union Bank of india (Last year's 4th list).

3) Abhishek Yadav --- Reserve list (waiting list)

RESULT OF IBPS CLERK DECLARED

2013-12-31T05:47:00.000-08:00

INTERIM BUDGET 2014-15 – HIGHLIGHTS

· Fiscal deficit expected to be at 4.6 % of GDP which is less than targeted 4.8%

· The fresh estimate for GDP this year is 4.9%. GDP is total goods and services produced in the country during the given financial year.

· Expenditure estimates for the year is 1763214 crore against 1590434 crore last year.

· 11,300 crore is proposed to be provided for Capital infusion in Public Sector Banks.

· Interest on education loan taken before 31/03/2009 will be borne by government up to 31/12/2013.

· No change in direct tax structure.

· Some indirect taxes like excise duty were relaxed in respect of consumer durables like TV freeze washing machines and automobiles like cars(across all segments),bikes etc.to increase demand in the market and boost growth of manufacturing sector. Some relaxation was also provided on country made mobiles, capital goods and construction machineries. (relaxation only up to 30/06/2014)

· Rs.11200 crore marked for capital infusion of banks.

· 8 lac crore is the credit target in agriculture segment .

			Budget at a Glance

					(In crore of Rupees)
		2012-2013	2013-2014	2013-2014	2014-2015
	Revenue Receipts	877613	1056331	1029252	1167131
2	Tax Revenue
	(net to centre)	740256	884078	836026	986417
3	Non-Tax Revenue	137357	172252	193226	180714
	Capital Receipts (5+6+7)$	532754	608967	561182	596083
5	Recoveries of Loans	16267	10654	10802	10527
6	Other Receipts	25890	55814	25841	56925
7	Borrowings and other
	liabilities *	490597	542499	524539	528631
	Total Receipts (1+4)$	1410367	1665297	1590434	1763214
	Non-Plan Expenditure	996742	1109975	1114902	1207892
10	On Revenue Account	914301	992908	1027689	1107781
	of which,
11	Interest Payments	313169	370684	380066	427011
12	On Capital Account	82441	117067	87214	100111
	Plan Expenditure	413625	555322	475532	555322
14	On Revenue Account	329208	443260	371851	442273
15	On Capital Account	84417	112062	103681	113049
	Total Expenditure (9+13)	1410367	1665297	1590434	1763214
17	Revenue Expenditure
	(10+14)	1243509	1436169	1399540	1550054
18	Of Which, Grants for
	creation of Capital
	Assets	115513	174656	121283	146581
19	Capital Expenditure
	(12+15)	166858	229129	190894	213160

20	Revenue Deficit (17-1)	365896	379838	370288	382923
		-3.6	-3.3	-3.3	-3

21	Effective Revenue	250383	205182	249005	236342
	Deficit (20-18)	-2.5	-1.8	-2.2	-1.8

22	Fiscal Deficit	490597	542499	524539	528631
	{16-(1+5+6)}	-4.9	-4.8	-4.6	-4.1

23	Primary Deficit (22-11)	177428	171814	144473	101620
		-1.8	-1.5	-1.3	-0.8

	Actuals for 2012-13 in this document are provisional.
	$ Excluding receipts under Market Stabilisation Scheme.
	* Includes draw-down of Cash Balance.
Notes:	1. GDP for BE 2014-2015 has been projected at ` 12839952 crore
	assuming 13.4% growth over the advance estimates
	of 2013-2014 (` 11320463 crore) released by CSO.
	2. Individual items in this document may not sum up to the totals due to rounding off.

What is your opinion about this budget.

It is very positive, practical and growth oriented budget with no hidden agenda or populist measures. The vision in the budget is clear. In a short span of time, indirect tax reduction,will boost demand for consumer durables and automobiles and improve growth prospects. At the same time Finance minister has shown his commitment to contain fiscal deficit within targeted lines of below 4.8%. and also setting a roadmap of further reducing fiscal deficit in years to come.

Feedback from some of the candidates who appeared for IBPS clerical interview last week

Interview board very friendly and supportive. Mostly expected questions.
More questions on Madhya Pradesh. CM, Governor , No. of districts , tribal belt, formation of chattisgarh, how many states surrounds it etc.
Questions on ujjain’s temples like Kal Bhairav, Iskcon etc. Which religious institution having world wide presence also has its branch in ujjain. – (ISKCON)
Do you read newspaper , which one ?, what are important headlines today. Questions on them.
Why engineering to banking , how your engineering knowledge is useful in bank.
Questions on family background.
Questions on subject knowledge.

Looking to the trends, I have collected some information from the net , which will further add to your preparedness for the interview.

Facts about M.P

1. Formation of madhya pradesh took place in 1st NOV 1956.

2. Name Madhya pradesh was given by J.L Nehru.

3. formation of Chhatisgarh as a 26th state took place in 1st nov 2000.

4. Capital of M.P is Bhopal and business capital is Indore..

11. M.P. has 10 division(sambhag) latest is shahdol.

12. M.P. has 51 districts, latest is Agar Malwa separated from shajapur district.

13. Sex ratio of M.P. is 930/1000 according to 2011 census.

15. M.P has 46 janjatiya in which Gond is most common. Native of Jabalpur area Gonds are the biggest tribal community followed by Bhils in jhabua.

17. Literacy rate is 70.63% in M.P. Male literacy is 80.53% and female literacy is 60.02%.

18. Area wise M.P is second largest state having 3,08,245 square km.

स्थान	जैसा कि इसके नाम से पता चलता है कि मध्येप्रदेश, भारत के बिल्कुल मध्य‍ में स्थित है, राज्य की सीमा पांच अन्य राज्यों से जुडी हुई है जैसे – उत्तर-पश्चिम में राजस्थान, उत्तर में उत्तर प्रदेश, पश्चिम में गुजरात, दक्षिण में महाराष्ट्र और उत्तर-पूर्व में छत्तीसगढ़।
क्षेत्र	मालवा, निमाड़, बुन्देरलखण्ड, बघेलखण्ड , चम्बल और महाकौशल।
मुख्य फसल	सोयाबीन, गेहूँ, धान, ज्वार, मक्का, चना, मसूर, तुअर, सरसो।
नदियां	नर्मदा, चम्बल, माही, ताप्ती, बेतवा, सोन, बाणगंगा, केन, पेंच, तवा और क्षिप्रा।

Narmada and tapti are two rivers which flows westwards ending up in gujrat sea coast. All others flow eastward to bay of Bengal.

• Governor	Ram Naresh Yadav
• Chief Minister	Shivraj Singh Chauhan (BJP)
• High Court	Madhya Pradesh High Court Jabalpur

· Black Soil, most predominantly in Malwa region.

Governors of Madhya Pradesh

#	Name	Took Office	Left Office
1	Dr. Pattabhi Sitaramayya	1 November 1956	13 June 1957
2	Hari Vinayak Pataskar	14 June 1957	10 February 1965

· First Chief minister was Shri Ravi shankar shukla

Narmada Kshipra link project

On the occasion of Narmada Jayanti on February 6, the river was successfully linked with Kshipra. The Narmada-Kshipra project will be formally inaugurated around February 25. The first phase was completed with the investment of Rs. 432 crore.

In the next phase other three rivers which will be linked with narmada are Gambhir, Kalisindh and Parvati .

Purpose – 1) Regular and clean water flow in kshipra for religious devotees visiting ramghat throughout the year, specially in simhastha 2016. 2) improving irrigation facilities and ground water table of Malwa region. 3) providing clean drinking water to all villages and cities which comes in the route of these rivers.

Kshipra emerges from small hill at ujjaini village near indore. Narmada water was lifted 350 meters upward (through pumps) from sisliya reservoir (on narmada river) and released into the origin place of kshipra.

Narmada water will flow through Kshipra, which merges with chambal , chambal with yamuna and yamuna with Ganga making a confluence of five sacred rivers.

International Society for Krishna Consciousness (ISKCON).
ISKCON is a religious movement that also identifies itself as The Hare Krishna Movement™. ISKCON belongs to the Gaudiya-Vaishnava sampradaya, a monotheistic tradition within the Vedic and Hindu cultural traditions.
founded by A.C. Bhaktivedanta Swami Prabhupada, based on the teachings of the Bhagavad-gita, the spiritual teachings spoken by Lord Krishna.
Kalidas samaroh
kalidas samaroh -2013 was held from 4^th Feb to 10^th feb 2014 . delayed because of election scheduled in Madhya Pradesh.

First kalidasa Samaroh 1958 at Ujjain was inaugurated by late of India Dr. Rajendra Prasad and the occasion turned out to be an important in the cultural history of India

Kalidas
His place in Sanskrit literature is akin to that of Shakespeare in English.^[1] His plays and poetry are primarily based on Hindu mythology and philosophy
PLAYS :Abhigyan shankuntalam , Malvikagnimitram, Vikramovashium
POETRY: Meghdootam, ,Raghuvansham, Ritusanhar,Kumar-shambhav

More information will be added tonight , Pl. check it tomorrow morning.

Important news from recent newspapers.

· Kejriwal resigns over Jan lokpal bill not being supported by congress and BJP . Jan lokpal bill is the AAP version of lokpal draft, which was prepared by group of civil society members under the leadership of Anna hajare two years back. Later on anna hajare agreed to a diluted version of lokpal being passed by the parliament in December 2013, but AAP under kejriwal sticked to their original version.

· Delhi being the country’s capital is under dual control of Central Government and Delhi state government. Delhi police is under the control of Central Home ministry and any new bill presented in the Delhi vidhan sabha needs prior approval of central government. Shri Kejriwal wanted to present Jan Lokpal bill without approval of central government, which was considered unconstitutional and as such opposed by congress and BJP.

· After Kejriwal’s resignation, Lt. Governor of Delhi Shri Najeeb Jang recommended President rule in the state and vidhan sabha to remain suspended.

· 14^th Feb. Valentine day. St. valentine from Italy supported and solemnized marriages of soldiers who were not allowed to marry under theroman empire rules.

· Parliament proceedings were disrupted by Anti Telangana MPs , using pepper spray . They were opposing presentation of Telangana bill and were against division of Andhra Pradesh. Central government has declared the creation of a separate state named TELANGANA out of existing Andhra Pradesh. It will be 29^th state of India and will comprise 10 district . Hyderabad will be common capital for divided states for next 10 years and thereafter it will be passed on to Telangana.

· Last time in 2000 three new states namely Jharkhand, Uttarakhand and Chhatisgarh were created.

· American author Wendi doniger’s book The Hindus : an alternative history was withdrawn by penguin book publisher after it being challenged in the court by an delhi based organization Shiksha bachao samiti. It has some objectionable narrations about hindu mythological characters.

· IPL -7 Auction. Yuvraj singh highest paid cricketer with 14 crore by royal challengers , Benguluru followed by dinesh kartik at 12.5 crore. Eight teams are participating in this tournament. Organiser is BCCI.

· Interim rail budget presented in parliament by railway minister Mallikarjun Khadge. No change in fares or freight. 73 new trains announced.

· New scheme announced by RBI governor Shri Raghuram Rajan . At the request of account holder bank will send a code on the receiver’s mobile and receiver will be able to withdraw that money from any ATM by feeding that code. No ATM card will be required.

· Inflation indexed national savings securities issued by RBI to protect savingss from inflation. On such deposits interest will be 1.5% above the inflation rate of particular period.

· Winter Olympics inaugurated in SOCHI in Russia. Indian players could not participate under Indian flag as recognition to Indian Olympic association remained suspended for the last one year. But fortunately the ban was lifted during the currency of winter Olympics , as the new IOA committee was elected in the meantime ,as per internatonal olypic committee’s rules

· Maruti has launched automatic gear car celerio.

· Banks employees remained on strike for two days , demanding wage revision due from 01/11/2012 and other subsidiary demands.

· Jennet yelen (a lady) appointed as Governor of Federal reserve , USA in place of Ben S Bernanke.

· Plastic currency notes ( Rs. 10) to be introduced in five cities kochin, shimla,mysore,jaipur , bhubaneshwar .

· Satya nadela from Hyderabad (now a American citizen) became CEO of Microsoft. Ottaer inidans reached to the top positions are Indiran noyee(pepsico), Rajat Gupta (macinjee), Anshu jain (deusche bank) Ajay Banga ( Mastercards).

· New facilities at UJJAIN, PNG Piped natural Gas project approved. It will supply cooking gas through pipelines to 2500 individual homes by 2015. New CNG mother station approved . Vikram Udhyogpuri and knowledge city will be developed near Narvar village.

· Wholesale Price Index - Inflation at 8 month’s low. Dipped to 5.05 in January from 6.16 in Dec and 7.52 in November, mainly on account of moderation in food prices. Hopes of rate cut by RBI and improvement in growth figures expected. Retail inflation (Consumer Price Index) also reached 24 months low of 8.79%

· State Bank Q3 profit reduced by 35% for rising bad loans and rising wage costs. Gross NPA y around 5.73% and if restructured loans are added to it , will become 9%. No hope of improvement in near term.

· 2G auction fetched more than 61000 crore to government exchequer. Low base price and transparency proved beneficial to the government. However experts feel , it may increase mobile call charges.

· Krishi karman award to Madhya Pradesh for second consecutive year for maximum food grain production.

· India lost one day series against new zealand . In test series India lost first test but now in better position in second test .

RBI decided to keep pre 2005 noted out of circulation as they are having less security features and are comparatively easy to counterfeit (jaali/nakli). They can be easily recognized as year of printing was not printed on the notes prior to 2005. As the new currency notes have added security features, they would help in curbing the menace of fake currency.

At present, currency notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 are issued. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication," the RBI said.

From July 1, 2014, persons seeking exchange of more than 10 pieces of Rs 500 and Rs 1,000 notes will have to furnish proof of identity and residence to the bank.
What additional security features were introduced since 2005
1) weight and thickness of the paper increased 2) Colour of the security thread shall shift from green to blue when viewed from different angles. Width of thread will increase from 1.2 mm 3 mm. 3) Year of printing to be incorporated at the printing stage on the reverse ofthe bank note. 4)optically variable ink 5) intaglio (embossed) printing to be made more prominent.

· What is vote on account (interim budget) to be presented on 17^th Feb

This year, a vote-on-account would be presented instead of a full budget because general elections will be conducted in May. Since the present government would not have enough time in hand to vote for a full budget before the commencement of the new financial year, a vote-on-account would ensure that sufficient funds are at the disposal of the government to allow it to run the administration of the country until a new government takes over. What is vote-on-account? > Vote-on-account deals only with the expenditure side of the government's budget. The government gives an estimate of funds it requires to meet the expenditure that it incurs during the first three to four months of an election financial year until a new government is in place.

Fiscal & revenue deficit

What is fiscal deficit?
The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government. While calculating the total revenue, borrowings are not included.

Generally fiscal deficit takes place due to either revenue deficit or a major hike in capital expenditure. Capital expenditure is incurred to create long-term assets such as factories, buildings and other development. A deficit is usually financed through borrowing from either the central bank of the country or raising money from capital markets by issuing different instruments like treasury bills and bonds.

DEAR STUDENTS

RESULT OF IBPS CLERK DECLARED : PLEASE CHECK AND ADVISE THE OUTCOME

CONGRATULATIONS AND HAPPY NEW YEAR
THE FOLLOWING STUDENTS HAVE REPORTED THEIR SUCCESS IN THE EXAM

1) Shri Shailendra Hanumantaiya
2) Miss Anu Singh
3) Miss Rachana Neema
4) Miss Madhurima Kaushal
5) Miss Ishika Jain
6) Miss Varsha Rochwani
7) Miss Purva Gupta
8) Miss Yogita Torani
9) Miss Preeti Thote

IBPS PO

Expected Interview questions (Other than from your personal and educational and native background)

As on 1^st Jan 2014

Be prepared for all questions arising out of these issues/incidents.

Important headlines of newspapers last week.

1) AAP government formation in delhi 2)Review of adarsh scam report rejection by maharashtra Govt. 3) Court verdict on Narendra modi’s involvement in gujrat riots 4) Michael shumacker’s accident 5) Demise of actor Forooque Shaikh. Important events last month.

1) LOKPAL bill 2) Results of 5 vidhan sabhas elections 3) Emergence of AAP as a formidable force in politics. 4) Devyani Khobragade’s case 5) SC’s verdict on homosexuality.

Important events last year. (National)

1) LOKPAL bill passed 2) Indian mission to Mars 3) Creation of Telangana 4) Food Security bill 5) Sachin’s retirement and Bharat ratna award

Important events last year (International)

1) US Spying disclosures by Edward Snowden 2) Change of Pope at Vatican city 3)US- Iran Nuclear deal 4) US shutdown and payment crisis 5) Syria crisis over use of Chemical weapon.

Important persons of the year (National)

1) Arvind Kejriwal 2) Narendra modi 3) Raghuram rajan 4) Sachin Tendulkar 5) Anna Hajare

Important persons of the year (International)

1)Edward Snowdan 2) Pope Francis 3) Hasan Rouhani , President of Iran. 4)Barack Obama 5) vladimir putin .

Five influential ladies in the world.

1) Angela Markel , Chancellor Germany. 2) Hillary Clinton, ex. Foreign minister US 3) Dilma Rouseff, President Brazil 4) Mishell obama 5) Melinda gates .

Five influential ladies (India).

1) Sonia Gandhi 2) Chanda Kochar 3) Shikha sharma 4) Chitra subramaniam 5) Naina lal Kidwai.

Other decisions/ events which influenced India.

1) Supreme court decisions- a) recriminalisation of homosexuality b) provision of NOTA in elections. C) Debarring MPs / MLAs who were convicted from the court. d) Declaring CBI formation invalid e) adhar card can not be made mandatory for any Govt. scheme benefit.

2) Uttarakhand tragedy

3) Direct benefit(subsidy) transfer

4) New alliances in Airlines, Jet –ETIHAD deal, Tata – airasia deal, Tata Singapur airlines deal.

5) Land acquisition bill

Major BANKING and Economic events

1) Bharatiya Mahila Bank

2) Shri Raghuram rajan appointed RBI Governor.

Important policy decisions by Raghuram rajan. 1) concessional currency swap windows for banks 2) Gradual reversal of MSF/Bank rate hike 3) Five pillars of banking reforms 4) New Foreign bank policy announced. 5) Free branching policy to open banks without RBI permission.

3) New Private bank licenses under process.

4) Gold import duty increased, Gold loan restricted to control CAD.

5) Free fall of rupee and exchange rate crisis.

GOOD LUCK TO STUDENTS FOR 7th and 8th December sessions

2013-12-06T06:02:00.001-08:00

GOOD LUCK

                                             NEW ADDITIONS

FM releases commemorative(in memory of ) coin of Rs. 20 and circulation coin of Rs. 5 in memory of Maulana Abdul kalam azad ‘s 125^th anniversary .
Coins in circulation 50 paise to 10 Rs.
Notes in circulation Rs. 1 to 1000
Notes currently issued by RBI Rs. 5 to 1000
Sushma singh to replace Deepak sandhu as Chief information commissioner. Deepak sandhu being the first , sushama singh would be second women commissioner.
Snehlata shrivastava , appointed Chairman of NABARD. Took over from Prakash Bakshi.
BCSBI Banking Codes and standard board of India , prescribes code of conduct of banks to customers . Soon it will give ranks to different banks on the basis of compliance of BCSBI norms.
Nelson Mandela , noble peach price winner, south African president , died .
Next world cup football in 2014 in Brazil
SOME QUICKERS FROM JAN-JUNE 13
On January 23, 2013, the three-member Commission, headed by former Chief Justice of India, Justice J.S. Verma and comprising a former High Court Chief Justice Leila Seth and jurist Gopal Subramanium assigned to review laws for sexual crimes, submitted its report to the government.
On January 28, 2013, India and Bangladesh signed a liberalised visa agreement and a landmark extradition treaty
On the occasion of Swami Vivekananda’s 150th birth anniversary, on January 12, 2013, the Salt Lake Sports Stadium, Kolkata, was renamed Vivekananda Yuva Bharati Kriyangan.
National Girl Child Day is observed on January 24.

National Voters Day is observed on January 25.
“Witness to Blunder” is a book written by Pakistani Army Colonel (retd) Ashfaq Hussain.
Indian economy likely to grow at 6.1-6.7% in FY14. as per economic survey presented in parliament on 27^th Feb.
India’s per capita income, a gauge for measuring living standard, is estimated to have gone up 11.7 per cent to be Rs. 68,747 (Rs 5728 per month), as compared to Rs. 61,564 during 2011-12, as per the Advance Estimate of National Income.
Pandit Ravi Shankar received the Lifetime Achievement Grammy award,
One Billion Rising’ was a campaign held on February 14, 2013, to protest violence against women.
The Test of My Life”, co-authored by Nishant Arora and Sharda Ugra, is an account of cricketer Yuvraj Singh’s battle with cancer and his return to international cricket.
The fifth Summit of the BRICS (Brazil, China, India, Russia and South Africa) countries was held in eThekwini, the South African name for Durban, on March 26, 2013.
Chitra Ramkrishna has taken over as managing director and CEO of National Stock Exchange (NSE), joining the select group of women leaders at the helm of affairs of leading stock exchanges of the world.
World Health Day is celebrated on 7 April to mark the anniversary of the founding of World Health Organisation (WHO) in 1948. The theme for 2013 is “High Blood Pressure”.
World Bank would lend between $3 billion to $5 billion annually to India under a new four-year plan that focuses development projects on the country’s poorest States.
The Supreme Court has allowed translocation of some Asiatic lions from Gir National Park and Sanctuary and surrounding areas to Palpur Kuno Sanctuary in Madhya Pradesh, saying the species is under threat of extinction and needs a second home.
Earth Day is celebrated on 22 April. The first Earth Day was celebrated on in 1970. The United Nations, in 2009, had officially designated 22 April as the international Earth Day. The day is celebrated annually to highlight green issues, with events organised across the world to extend support for environmental protection.
On 23 April 2013, Chris Gayle shattered the record for the fastest 100 in the IPL and the fastest 100 in T20 history . in just 30 balls, having smashed 11 sixes.
Raja Harishchandra, directed by Dadasaheb Phalke, was India’s first silent and full-length feature film. It was released on May 3, 1913.
World No Tobacco Day is observed around the world every year on May 31.
PRISM is an electronic surveillance program classified as top secret that has been run by the United States National Security Agency (NSA) since 2007.
Tianhe-2, a China-based supercomputer, has leapfrogged rivals to be named the world's most powerful system.
Tata Communications Payment Solutions has launched India’s first ever network of white label ATMs called “Indicash”. The company, a wholly-owned subsidiary of Tata Communications, set up the first ATM at Chandrapada in Thane district of Maharashtra. White label ATMs are those ATMs that are operated by non-banking entities.

Banking cocept series - I

2013-12-03T03:31:00.000-08:00

BANKING CONCEPTS series -1

Banks in India SBI and its 5 associates (6) Nationalised banks (19) Other Public sector banks like IDBI and Bhartiya Mahila bank (2) Private sector banks (20) Foreign banks (43) These constitute All Scheduled commercial banks (6+19+2+20+43=90) . Then there are, scheduled RRBs (61) and Scheduled cooperative banks (51). All other cooperative banks (around 1500) are Unscheduled or Non scheduled banks.
A scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. The banks included in this schedule list should fulfil two conditions. 1. The paid capital and collected funds of bank shouldnot be less than Rs. 5 lac. 2.Any activity of the bank will not adversely affect the interests of depositors. Every Scheduled bank enjoys the following facilitiess. 1. Such bank becomes eligible for debts/loans on bank rate from the RBI 2. Such bank automatically acquire the membership of clearing house.
Development financial institutions are those which are created for technical and financial support of a particular sector of economy like agriculture, small industries, housing, etc. Such institutions are SIDBI, IDBI, EXIM bank , NABARD,NHB.
DICGC and ECGC Deposit insurance and credit guarantee corporation and Export credit guarantee corporation are created by RBI to provide insurance to deposits , loans and exim finances of banks. Fees or insurance charges are borne by banks.
DICGC guarantees to return maximum up to Rs. 100000/- one lac per depositor , in case of banks failure.
Foreign investments (both FII+FDI) limit for public sector bank is 20% and 74% for Private sector banks.

Banked Centre is a centre, which has at least one branch or office of commercial or co-operative bank. Unbanked Centre is a centre in which no branch of any commercial/ co-operative bank is functioning.

For free branching policy criterion of tier wise and population group wise centres is given below.

Details of tier-wise classification of centres based on population

i) Classification of centres (tier-wise) Population (as per 2001 Census)

Tier 1 - 1,00,000 and above

Tier 2 - 50,000 to 99,999

Tier 3 - 20,000 to 49,999

Tier 4 - 10,000 to 19,999

Tier 5 - 5,000 to 9,999

Tier 6 - Less than 5000

ii) Population-group wise classification of centres

Rural Centre - Population upto 9,999

Semi-urban centre - 10,000 to 99,999

Urban centre - 1,00,000 to 9,99,999

Metropolitan centre - 10,00,000 and above

Current RBI rates effective from 29/10/2013 second quarter review of monetary policy.

· POLICY RATES - REPO 7.75 REVERSE REPO 6.75 MSF AND BANK RATE 8.75

· RESERVE RATIOS – SLR 23% CRR 4%

· Treasury bills are govt. securities issued for less than a year up to 364 days and treated as money market insruments. Other instruments of money market are call/notice money, certificate of deposits, commercial papers , repo , term repo (recently introduced by RBI for 7 and 14 days term) , commercial bills.

· Money market instruments give businesses, financial institutions and governments a means to finance their short-term cash requirements.

· Govt. securities are sold and purchased throuth Open market operations to control liquidity.

· Participants in call/notice money market currently include scheduled commercial banks (excluding RRBs), co-operative banks (other than Land Development Banks) and Primary Dealers (PDs), both as borrowers and lenders.

· But Money market as whole comprises all financial institutions , government, banks, RBI and large business houses.

· CDs Certificate of deposits issued by banks whereas Commercial papers are issued by private business houses / companies.

· CDs can be issued by all scheduled commercial banks(excluding RRBs and local area banks) and any other Financial institution authorized by RBI. Minimum issue 1 lac or multiple no maximum limit. Maturity 7 days to 1 year.

· Commercial papers are unsecured money market instruments, issued by corporates, Financial institution ,primary dealers. May be issued 5 lacs or its multiple , period same to CDs.

RBI regulates

Banks , foreign exchange transactions, NBFCs Non banking financial companies, chit fund companies .Primary dealers in Govt. securities,, money market

RBI Functions

Monetary control , monetary and credit policy making , interest rate signaling.
Supervision of banking system,
Sole authority for note issue. Minimum reserve system 200 crore out of which 115 crore should be Gold security. Coins issued by Govt. of India Finance ministry.
Management of Govt. debts, bonds,t-bills etc. through open market operation.
Banker to the Govt.
Banker’s bank
Lender of last resort to banks.
Payment and settlement system ( Since formed NPCI National payment corporation of India).
Development and research in banking and credit development.
Creation and supervision of development financial institutions.

Regulator of credit rating agencies - SEBI

· Indian credit rating agencies- CRISIL, ICRA,CARE, Fitch India pvt.ltd.

· International credit rating agencies- Standard and Poor’s Moody’s, Fitch

Regulator of Credit information bureaus- RBI through The Credit Information Companies (Regulation) Act, 2005

· Indian credit information companies---CIBIL( Credit Information Bureau (India) Ltd, ), Equifax Credit Information Services Pvt. Ltd, Experian Credit Information Co. of India Pvt. Ltd, and Highmark CreditInformation Services Pvt. Ltd.

Banking Ombudsman

· The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

· The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.As on date, fifteen Banking Ombudsmen have been appointed with their offices located mostly in state capitals.

· Complainant has to first submit his complaint to the concerned bank , if he doesn’t get a reply or not satisfied with reply , he can go to ombudsman.

· Banking ombudsman have the powers to award financial punishments up to 10 lacs.

· If not satisfied with ombudsman’s decision, one can appeal to CGM Reserve bank of India or file an appeal in court.

No frills accounts with zero balance is replaced with BSBDA by RBI

Purpose of such account is to facilitate financial inclusion.

· BSBDA , Basic savings bank deposit accounts , free services ATM Cards, maximum four withdrawals in a month(all types cash,atm, electronic means) , credits through electronic and cheques and cash, no initial balance requirement, No concession in KYC norms .

BSBDA – Small account. Simiplified KYC self attested photograph , no ID proof required, maximum balance Rs.50,000/- withdrawal not more than 10,000 per month, total deposits 100,000 Rs. In a year. Foreign credit not allowed, account valid for 12 months thereafter KYC ID proof and address proof required. The validity can be extended for further 12 months.

Base rate and Bank rate

Base rate is the minimum lending rate declared by individual banks, below which they can not finance .
Base rate is replacement for BPLR OR PLR Benchmark Prime lending rate . Old loan accounts will be continued on BPLR until they are closed/renewed or shifted to base rate with due consent of borrower.
Bank rate is bill discounting rate charged by RBI from banks it is normally one percent above repo rate. . currently it is 8.75.

Kisan credit card

Kisan credit card is a single point credit facility card issued to Farmers , covering crop loan and allied activites requirements for a year. Limit is fixed on the basis of operational land holding, cropping pattern and scale of finance. Farmer can withdraw at his convenience to purchase agricultural inputs such as seeds, fertilisers, pesticides, etc. and also draw cash for their production needs. One time assessment and documentation. Validity 3-5 years. Every withdrawal of money should be repaid within 12 months.
Electronic kisan credit cards have now been introduced , which will replace passbook format in due course.

IFSC

Indian Finacial system code is 11 digit unique code allotted to each branch of the bank. This facilitates inter bank fund transfer like RTGS, NEFT , ECS etc. It is to be compulsorily mentioned on the cheque book.

RTGS

Real Time Gross Settlement- a real time , fast inter bank fund transfer scheme. Amount 200000/- two lacs and above can be sent from one bank’s branch to other bank’s branch. Fund settlement between banks is on gross basis means settlement is done for every transaction instantly. Possible only in banks working hours.
Charges ---Outward transactions – ` 2 lakh to ` 5 lakh - not exceeding ` 30 per transaction;
Above ` 5 lakh – not exceeding ` 55 per transaction., inward free

NEFT

National electronic fund transfer – Another interbank fund transfer scheme where transactions are settled in batches. Presently, NEFT operates in hourly batches - there are twelve settlements from 8 am to 7 pm on week days (Monday through Friday) and six settlements from 8 am to 1 pm on Saturdays. No minimum or maximum amount limit for NEFT remittance.

charges applicable for the remitter
- For transactions up to Rs 10,000 : not exceeding Rs 2.50 (+ Service Tax)
- For transactions above Rs 10,000 up to Rs 1 lakh: not exceeding Rs 5 (+ Service Tax)
- For transactions above Rs 1 lakh and up to Rs 2 lakhs: not exceeding Rs 15 (+ Service Tax)
- For transactions above Rs 2 lakhs: not exceeding Rs 25 (+ Service Tax)

Remitter don’t need to have account with the bank but receiver should have a bank account. Remitter can deposit cash up to 50000 /- for sending through NEFT.

Cheque truncation scheme CTS-2010

Cheque truncation means stopping the flow of physical cheque at the branch where customer has deposited the cheque and sending a electronic scanned image of the cheque to payment branch. Clearance of the cheque will be fast and movement of cheque will not be required.
CTS standards for new cheques - certain benchmarks towards achieving standardisation of cheques issued by banks across the country have been prescribed like – quality of paper, watermark, bank’s logo in invisible ink, void pantograph, etc., and standardisation of field placements on cheques.
Void pantograph is a blank strip which on scanning will display a word “void” on it, as a security feature.
Country has been divided in three grids – south, west and north (including NE) for implementation.
Under the new CTS system, alteration , corrections on the cheques will not be allowed even if issuer of the cheque confirms it under his signature.

The CASA (current and savings account) ratio is the ratio of deposits in the current and savings accounts of a bank to its total deposits.

· A high CASA ratio indicates that a higher portion of the banks deposits come from current and savings accounts. This means that the bank is getting money at low cost, since no interest is paid on the current accounts and the interest paid on savings account is usually low.

NDTL , Net demand and time liabilities –

· For banks it represents deposits from public. CASA current and savings accounts are demand deposit or demand liablilities and term deposits are time liabilities.

· SLR and CRR percentage are calculated of this NDTL figure.

Priority sector :

Reserve Bank of India in August 2011 set up a Committee to re-examine the existing classification and suggest revised guidelines with regard to Priority Sector lending classification and related issues (Chairman: M V Nair). The revised guidelines are operational with effect from July 20, 2012.

Categories under priority sector

(i) Agriculture and allied activities like dairy, poultry, Fisheries , sericulture etc.

(ii) Micro and Small Enterprises . Manufacturing units micro (below 25 lacs) small (25 to less than 5 crores). Service sector enterprises Micro <10 lacs and small 10 to <two crore.

(iii) Education loans up to 10 lacs for studies in india and 20 lacs for studies abroad.

(iv) Housing loans up to 25 lacs in Metro and 15 in other places .

(v) Export Credit provided to agriculture and MSE produce only.

(vi) Others – small loans not > 50000 to weaker section of society, financing to Micro finance institutions for onward lending, Self Help Groups

Priority sector finance targets.

Sector	Domestic commercial banks and foreign banks >= 20 branches	Foreign banks below 20 branches
Total priority sector	40% of total loans	32% of total loans
Agriculture	18% of total loans (counted as part of 40% as above)	No separate target

Retail Banking is doing banking business with individual customers and Micro and small enterprises. Retail products are Savings bank, current account, Recurring deposits, term deposits , Home loans to individual, education loand, consumer, personal ,auto loans (vehicle loan,car loan) Agriculture crop loans, credit cards, safe deposit lockers, selling insurance , mutual funds etc.

Cross selling and Mis-selling : Cross selling means selling a different product or service to an existing customer.

Misselling is the deliberate, reckless or negligent sale of products or services in circumstances where the contract is either misrepresented, or the product/service is unsuitable for the customer's needs. For example, selling life insurance to someone with no dependents is regarded as misselling. A type of sales practice whereby the sales person misrepresents or misleads an investor with regard to the features of a particular product or service

Dematerialisation means converting Physical securities in to electronic form for storing , negotiating and transferring it .

ABSA means Application supported by blocked amount. Amount in the current / savings bank account of customer is blocked during share allotment process. If allotted this amount is transferred to the company , if not block is released .

DMAT account. This is the share account opened in the banks where an investor can hold his shares in electronic or dmat form and make regular trading in them.
Nomination facility is provided in most of the financial products like bank deposits, provident fund, mutual fund, insurance proceeds etc. to facilitate payment of such products to nominee , in the event of death of investor. Nomination does not require nominee to sign or remain physically present at the time of nomination process. No Identification proof or KYC for nominee is needed. Nominee can be any person , a close relative or friend. Consent of nominee is not required.

KYC - These guidelines are issued by RBI under Section 35A of the Banking Regulation Act, 1949 and Rule 7 of Prevention of Money-Laundering (Maintenance of Records) Rules, 2005.

Banks should frame their KYC policies incorporating the following four key elements:

· Customer Acceptance Policy;

· Customer Identification Procedures;

· Monitoring of Transactions; and

· Risk Management.

Any fund transfer , remittance of money by draft or other means , of amount 50000/- fifty thousand or above should not accepted in cash from the customer having account with that bank. In case a walk in customer (not having an account with your bank) wants to send remittance in cash of 50,000/- or more , his identity and residential proof should be verified .

STR and FIU-India – banks are required to submit Suspicious Transaction report to Financial Intelligence unit –India.

with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that date or any subsequent date, if they are presented beyond the period of three months from the date of such instrument.

FAST REVISION : LAST THREE MONTHS GA SUMMARISED.

2013-11-29T04:57:00.001-08:00

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Sachin tendulkar apponted brand ambassador of UNICEF for south asia. United nations children’s fund , originally United nations international children emergency fund.
Sachin’s profile

Name Sachin Ramesh tendulkar Born 24^th april 1973, Mumbai , Played from 16 yr to 40 yrs of age.

Test debut (cap 187)
Last Test
ODI debut (cap 74)
Last ODI
ODI shirt no.
Only T20I (cap 11)
Competition	Test	ODI
Matches	200	463
Runs scored	15,921	18,426
Batting average	53.79	44.83
100s/50s	51/68	49/96
Top score	248*	200*
Balls bowled	4,240	8,054
Wickets	46	154
Bowling average	54.17	44.48
5 wickets in innings	0	2
10 wickets in match	0	n/a
Best bowling	3/10	5/32

In third test match against England in August 2002,Sachin scored his 30th test century to surpass Bradman's record (29 centuries in test matches), in his 99th test match.
Tendulkar scored his much awaited 100th international hundred on 16 March 2012, at Mirpur against Bangladesh in the Asia Cup.^[137] He became the first person in history to achieve this feat.
He also owns the highest number of Man-of-the-Match (62) and Man-of-the-Series awards (26).
Scores maiden Test century against England at Old Trafford in 1990.

HONOURS

1997/98: India's highest sporting honour - Rajiv Gandhi Khel Ratna
1999: Padma Shri - India's fourth highest civilian award
2008: Padma Vibhushan - India's second highest civilian award
2010: ICC Cricketer of the year - Highest award in the ICC listings
2010: LG People's Choice Award
2013 : BHARAT RATNA

From February to April, Bangladesh, India, and Sri Lanka hosted the 2011 World Cup. Amassing 482 runs at an average of 53.55 including two centuries, Tendulkar was India's lead run-scorer for the tournament; India defeated Sri Lanka in the final.^[124] Shortly after the victory, Tendulkar commented that "Winning the World Cup is the proudest moment of my life. ... I couldn't control my tears of joy.
Tata sons have withdrawn their application for new bank licenses. Videocon has already withdrawn. Now 24 applicants left.
BSBDA , Basic savings bank deposit accounts , free services ATM Cards, maximum four withdrawals in a month(all types cash,atm, electronic means) , credits through electronic and cheques and cash, no initial balance requirement, No concession in KYC norms .

· BSBDA – Small account. Simiplified KYC self attested photograph , no ID proof required, maximum balance Rs.50,000/- withdrawal not more than 10,000 per month, total deposits 100,000 Rs. In a year. Foreign credit not allowed, account valid for 12 months thereafter KYC ID proof and address proof required. The validity can be

· Dhanush missile successfully tested from a naval ship in bay of Bengal. It is nuclear capable ballistic surface to surface missile and a naval variant of Prithvi missile..

· RBI asks banks to use adhhar based biometric authentication or EVM chip and pin system to secure card payments. EVM (Euro pay, Master card Visa).

· Rs. 150/- and Rs.5/- coins to be released in memory of Shri Motilal Nehru

Norway’s Magnus Carlsen is now new world chess champion defeating vishwanathan anand of india.
National food security scheme gets conflicted with WTO international agreements. Under the WTO agreement on agriculture food subsidy support should not exceed 10% , which is going to be breached when our food security scheme is implemented. India is persuading WTO to have a peace clause for four years so as to avoid penalty on this ground. WTO nations are going to meet in Bali, Indonesia next month.

RBI to introduce concept of TCF “Treat Customers Fairly” for sale of third party products like insurance, mutual funds and capital market products. RBI is receiving complaints of mis-selling by banks. Mis-selling of products means hiding or mis representing some of the features of product, which can affect the decision of prospective buyer.

Prithvi Shaw , 15 years old budding cricketer made history and created a record by making individual score of 546 in an under 16 inter school tournament in Mumbai . The tournament is known by the name of Harris Shield cricket tournament. The earlier record was in the name of arman jaffar (498) in 2010.

Bhartiya mahila bank inaugurated in Mumbai on the birth anniversary of Late Mrs Indira Gandhi. Headquartered at Delhi. First women focused bank , 75% of women in India are not having bank account. The bank was opened with 7 branches and will have 25 branches by the end of this financial year. It will have preference to women staffers but not essentially be a women only bank. It will be a full fledged bank providing all banking and financial services similar to other commercial banks but will offer special banking products for women clientele. It will be a universal bank with a balanced presence in rural, urban and metro centers. Initial capital is 1000 crore. May open branches abroad . It is a Public sector bank.
RBI directs Public sector banks to give loans to women self help groups at 7 % . The difference between the base rate and 7 % so offered will be compensated as interest subvention under Swarnjayanti Gram Swarozgar yojana SGSY by ministry of rural development.

German formula 1 player Sebastian vettel wins US grand Prix , sets a record of winning 8 consecutive wins in one year , just ahead of schumacker who had won 7 in a year.

Axis bank to be foreign owned. FIPB Foreign investment promotion board has approved its proposed increase in foreign share holding to 62% resulting in an inflow of Rs.6200 crore. The proposal will now go to Cabinet committee on Economic affairs as anything above 1200 crore needs its approval.

India wins second test match (200^th for Sachin) against West Indies by and innings and 126 runs on the third day itself. Last score of sachin is 74 in the first innings of 200^th match.
Govt. has also responded in the same tone and announced Bharat Ratna title to be conferred on him. He was the first sportsperson to receive this award and at 40 years of age ,also the youngest ever .
Bharat ratna title was also conferred on Shri C.N.R. Rao (79) , a world renowned Scientist and present chairman of PM’s Science advisory council. He is an authority on solid state and materials chemistry and has a significant contribution to India’s space odyssey MOM Mangal.
Bharat ratna was instituted in 1954 and so far given to 43 persons. Last time it was given four years ago to PT. Bhimsen Joshi in 2008.

China tops in no. of internet users (300 million) followed by US (207 M) and India just crossed 200 m mark.
INS Vikramaditya to be inducted in Indian navy as the latest Aircraft carrier after INS VIRAT, which is 55 years old now. made by Russia as “ Admiral Gorshkov” is renamed by India as INS Vikramaditya. It can handle 34 aircrafts on board.
Usha Anantsubramaniam appointed as Chairman and CEO of Bhartiya Mahila bank.
Aziz premji , Wipro chief and IT tycoon , tops the list of Indian philanthropist (donor for social cause ) with donations worth 8000 crore.

A 1969 painting by British artist Francis Bacon set a world record for the most expensive artwork ever sold at auction at $142.4 million . Name of the painting was “Three studies of Lucian freud”.
The reconstructed world trade centre in NewYork has been recognized as America’s tallest building with 1776 feet height,.
SBI second quarter July to Sept 2013 profit down by 35% compared to last year’s same quarter on account of provision for NPA , staff wages hike, pensions etc.
The rising bad loans (Gross NPA)of banking industry have risen to a peak of 1.83 lakh crore at the end of June 2013.
PFRDA chief Yogesh agrawal quits chairman’s post . Govt. apponts Anup wadhwan as new chief.

The Eight Core sector industries are Crude oil, petroleum and refinery products , coal, power , steel , natural gas, fertilizer and cement
Both Consumer Price indices for rural and urban areas have hit the double digit inflation at 10.11 and 10.2 respectively in Oct.2013.
In India Macro economic policies are framed around Wholesale Price Index and not on Consumer Price Index. CPI is also called retail inflation.
ATP world tour Tennis , London won by Serbian player Novak Jokovic defeating Rafael Nadal.

Times of India newspaper completes 175 years. Vice President Hamid Ansari launches a book “Momentous Times”.
Indira Nooyi an Indian chairman and CEO of Pepsico Inc unveiled the plans of investing over $5 billion in india..

· Govt. to dissolve 10% stake in Indian Oil Corporation under its disinvestment drive , with current year 2013-14 ‘s target as 40,000 crore.

CHOGM Commonwealth Heads Of Government Meeting to be held in Shri Lanka next week. It is held once in every two years in different member countries. Commonwealth nations are group of countries which were part of British rule at any part of time.

· CBI was declared Unconstitutional by Guwahati high court.

· World chess championship being held in Chennai. Two initial matches between Vishwanathan anand and Magnus Carlsen have ended in a draw. Magnus carlsen is a Norvegian chess player with current world no.. 1 ranking .

· Standard and poor’s international credit rating agency has maintained the status quo about India’s rating at BBB – Minus retaining its negative outlook. BBB- is the lowest grade investment rating . Any down grade will reduce Indian rating to Junk status i.e., not favourable for investment. Next review will be done after Lok sabha elections , when the new government will take charge. Moody’s current rating on India is Baa3 – stable and Fitch’s rating is BBB-Stable.

· MNAIS Modified national agricultural insurance , requiring compulsory insurance of crops by the Farmers taking bank loans, which was tried on pilot basis in 50 selected districts has now been extended to the entire country from 1^st Nov. 2013 as part of the Five year plan. Govt. will provide 40 to 75% subsidy on the premium.

· SBI raises lending rates by 0.20% . The new base rate is 10.00% and Prime lending rate to 14.75%

· RBI new norms on foreign banks released. Highlights 1) Foreign banks may expand their operations in India after floating a WOS wholly owned subsidiary registered in India. 2) Initial capital for opening a Banking subsidiary is 500 crore. 3) Wos will be treated at par (Near national treatment) with Indian domestic banks. They will have the liberty of opening branches without seeking individual branch opening permission however they need to follow all regulations like financial inclusion, priority sector financing, branch spread policy etc. like other Indian banks. 4) Some foreign banks which have a complex structure , or have a preferential policy for their domestic depositors (US, UK and Germany) will be compulsorily migrated to WOS structure. Others will have the option not to migrate to WOS , if they so want.5) Half of their board of directors should be persons of Indian origin and one third should be current Indian nationals. 6) foreign banks will be allowed to buy local Indian private banks.

· Nearly 1.34 lakh Indian workers already returning to their homeland as the Saudi Arabia’s Govt . is deporting all illegal migrant labour in their country under its new labour policy Nitaqat .

152 soldiers in Bangla desh have been sentenced to death penalty for their role in 2009 mutiny and massacre of 74 people including army officials. This was biggest ever mass trial in the world.

5^th November 2013

· Mars Mission India

· Comparision Mars with earth

	Mars	Earth
Atmosphere	95% CO2, 3% nitrogen, 0.13% oxygen	Nitrogen 77%,Oxygen 21%
No. of satellite	2 Phobos and Deimos	1 Moon
Average surface temperature	-63 degree Celsius	14 degree Celsius
Length of year	687 earth days	365 days

Designated as Mars Orbiter Mission MOM . Mars also called red planet.
ISRO director K. Radhakrishnan and Mission director P Kunhi Krishnan.
PSLV25 , Polar Satellite Launch Vehicle’s 25^th flight.
GSLV Geosynchronous Satellite Launch Vehicle uses indigenously developed cryogenic engine has capacity to launch heavier loads in to distant geosynchronous orbits (higher orbits ) of earth. So far we have carried out 7 operations on GSLV Of which only two were successful. The 8^th operation scheduled in Dec 2013 has been postponed .
Men are from Mars and women are from venus written by American author John gray.
So far five different nations(US, Soviet union ,EU,China and Japan) have tried this expedition and two of them have failed (Japan and China).
Launched from Shriharikota (Andhra Pradesh) Satish dhawan space center.

Rohit sharma became third batsman to have scored double century(209) in ODI cricket after virender sehwag(219) and Sachin Tendulkar (200). He also created a world record of hitting 16 sixes in an ODI innings.
India won this series 3-2 against Australia. Virat Kohli declared man of the series.
Dr Bimal Jalan headed panel held its first meeting on bank license allotment on 1^st nov. 2013. Other members of high level advisory committee are Usha Thorat, CB Bhave, and Nachiket Mor.
Traditional samwat year (diwali to diwali) 2069 ended at Bombay stock exchange on a high note with sensex closing at 21197 points.
MCX-SX the third full fledged stock exchange has appointed Shri Gopal Krishna Pillai , former Union home secretary as Chairman and Thaomas Mathew , a former top official of LIC as Vice Chairman.
Ease of doing business report released by world bank and International Finance corporation placed India at 134th place among 189 countries, down from 131^st position last year. Singapore ranked first making it best place to do business in the world. Singapore was adjudged the best place to do business.

· Expressing full confidence in the American economy and asserting there are low chances of US default, Rajan ruled out selling out the Indian assets in the United States.The Indian investment in the US treasury bills is estimated to the tune of $59.1 billion.

· Five pillars of Raghuram rajan

Pillar 1: Monetary policy framework. Review its objective, strengthen its effectivness, making it more credible and transparent.
Pillar 2: Reform India’s banking system. 1) Free branching (no need to take RBI permission for opening branches. 2) New bank licenses on a regular basis. 3) New rules for foreign banks with WOS wholly owned subsidiary structure. Such banks be at par with domestic banks and will get near national treatment.
Pillar 3: Liberalizing Indian markets like money market, Govt. debt market , Corporate debt market etc.
Pillar 4: Financial inclusion.Mr. Rajan said that India would look to use technology increasingly to bring financial services to millions of unbanked people in smaller towns and rural areas.
Pillar 5: Dealing with financial distress.“Whether it be corporate distress, or financial institution distress: we need to improve our mechanisms to make it simpler, cleaner, and less value-reducing,” said Mr. Rajan. India needs to accelerate the working of Debt Recovery Tribunals and Asset Reconstruction companies, so that bad loans sitting on the books of Indian banks are processed quickly. That will free up banks to lend more to financially healthy companies that need money.

· RBI raises repo rate on 29 Oct. 2013 from 7.5 to 7.75 in its quarterly policy review. MSF cut by 0.25% from 9 to 8.75 to bring it to normal levels of one percent higher than repo rate. Bank rate also matches MSF rate at 8.75%. Reverse repo rate is now 6.75%.

· Term repo facility for 7 and 14 days continued in the policy review. Quantum of term repo increased from 0.25% of Net Demand and Time Liabilities is increased to 0.5 %..

· Liquidity up to 0.5 per cent of bank-wise NDTL is available through overnight LAF repos.

· Action on the monetary policy framework will follow the submission of the Dr. Urjit Patel Committee report and the strategy to expand financial inclusion will be informed by the Dr. Nachiket Mor Committee report.

· As per extant instructions, banks are required to pay interest on savings deposits and term deposits at quarterly or longer intervals. As all commercial banks are now on core banking platforms, it has been decided to give banks the option to pay interest on savings deposits and term deposits at intervals shorter than quarterly intervals.

· Pune warriors dismissed from IPL by BCCI.

· 25^th Oct. is RTI day Right to information day.

Capital infusion in Public sector banks approved by Finance ministry. This years budget allocation is 14000 crore as against 12517 crore last year. SBI gets 2000 crore followed by IDBI and Central Bank of India with Rs. 1800 crore.
China visit of Prime minister Manmohan singh . MOU On dams among nine agreement signed. Chinese primeminister Le Keqiang and president Xi Jinping.
Renowned playback singer Mannaday died at the age of 94 . His full name is Prabodh Chandra dey. First film Tammana.
Banking licence , Four Public sector units applied – Deparment of posts, IFCI, LIC housing rms of finance and Tourism Finance corporation.
RBI Mid quarter monetary policy review on 20 sept. 2013 Repo rate increased to 7.5 % Reverse repo 6.5, MSF and Bank rate down to 9.5 from 10.25 in july . RBI also reduced daily CRR balance limit of banks form 99 to 95%. But CRR unchaged at 4% and SLR at 23% .
RBI again reduced MSF and Bank Rate fom 9.5 to 9 % on 7^th Oct. 2013.
RBI introduces Term repos to provide additional liquidity. Term repos of 7-day and 14-day tenor for a notified amount equivalent to 0.25 percent of net demand and time liabilities (NDTL) .
Lalu Prasad convicted in fodder scam by a CBI court , loses his parliamentary membership. Prasad and 44 others were charged with fraudulent withdrawal to the tune of Rs. 37.7 crore on fake fodder bills from Chaibasa treasury..
Supreme court gives Indian voters a right to reject all the candidates. A bench headed by Chief Justice of India P. Sathasivam asked the Election Commission to make changes in voting machines and ballot papers, giving voters a “none of the above”NOTA choice, and publicise this change widely.
Visit of President of Liberia
Ellen Johnson Sirleaf, President of Liberia came on an official visit to India on 11 September 2013. She also happens to be Africa’s first female President.

During the bilateral talks, Prime Minister Manmohan Singh announced a $ 144 million line of credit for Liberia. India also signed four agreements for cooperation in various fields, including the critical oil and gas sector.
Arundhati Bhattacharya has been appointed as the first woman managing director of State Bank of India.
Microsoft Corp has decided to buy Nokia’s mobile phone business for 5.44 billion euros, and the Finnish firm said its CEO, Stephen Elop, would join Microsoft when the transaction is closed. Finland’s Nokia, once the undisputed leader in mobile phones, has been struggling to respond to the challenge from smartphone makers such as Apple and Samsung.
German chancellor Anjela markel reelected in a recent election for 4 more years.
BRICS to set up a $100 billion fund to stabilize currency markets.
US Fed decides to continue with the stimulus
On 18 September 2013, the US Federal Reserve decided to leave its $85 billion a month stimulus programme in place, against broad expectations that it would reduce it as the economy grows.
The International Day for the Preservation of the Ozone Layer was observed on 16 September, with the theme “A Healthy Atmosphere, the Future We Want”.
China has opened the world’s highest civilian airport in a restive and remote Tibetan region of south-western Sichuan province..
International Day of Elderly Persons is observed on 30 September.
World Heart Day is observed on 29 September.
Robert Mugabe sworn-in as Zimbabwe President for a new five-year term Capital – Harrare
August 13 is celebrated as international left-handers’ day.
India has bypassed Japan to become the world’s third largest Internet user after China and the United States,
July 12 has been heralded as Malala Day, to remember the contributions of Pakistan’s Malala Yousafzai
July 11 is observed as UN World Population Day.
The National Stock Exchange (NSE) has regained its position as the world’s largest bourse in terms of volumes in equity trades, according to the latest data by World Federation of Exchanges (WFE).

US SHUTDOWN

US Govt. shutdown 30 sept. to 16 Oct. 2013 : Whenever the financial proposals or budgets presented by the governments are not passed by American congress(their Parliament) by the due dates, the constitutional permission to use the state funds expires and no expenses can be incurred by the Government. In such circumstances Government functions with minimum security and essential services. Most of the Government offices remain closed and employees are not paid their salaries.

Fortunatly India has never come across such situation , but America has experienced such deadlocks in around 18 times in its democratic history. The longest shutdown was for 21 days between 15 dec 1995 to Jan 6 ,1996 during Clinton regime.

This time the dispute was about sanctioning funds for Patient Protection and Affordable Care Act (PPACA),commonly known as Obamacare, which was part of budget proposal. In US Financial year is from October to September every year and yearly budget approval deadline was 30 th sept.

Apart from this, Loan limit of the country was also required to be raised to avoid default in payment of the Government securities maturing on 16^th Oct. Incidentally a last minute pact between Obama administration and Republicans saved US from becoming defaulter. At the same time Budget was also passed and shutdown ended.

· 4 Indian in Fortune Business women leaders list. ICICI Bank’s CEO Mrs. Chanda kochhar (4^th position), National Stock Exchange Chief Chitra Ramkrishna (17^th position), Axis Bank’s Shikha Sharma(32^nd position) , and HSBC’s Naila lal Kidwai.(42^nd position.).

· cyclone and not Super cyclone which requires wind speed of more than 220 kmp.

· Five states to go to polls in November. MP, Rajasthan, Mizoram, Chhatisgarh and Delhi . Chief election commissioner VS Sampat.

Lata Mangeshkar Received First National Yash Chopra Memorial Award

· Dondia kheda (Unnav) UP is the place where ASI Archeological Survey of India is excavating the suspected precious metal.

· RBI bans 0 % interest rate loan schemes offered by banks for purchase of consumer products.

· Eleanor Catton became the youngest receiver of Man booker prize at the age of 28 years for her lengthiest novel The Luminaries. Indian American Jhumpa lahiri was also in the race with her novel The Lowland.

Man Booker Prize 2013 – Eleanor catton for her novel “The Lumanaris” . The novel is the lengthiest (852 pages) ever and she is (28 years) youngest ever to win this prize.
Man booker prize has so far been confined to authors from commonwealth nations, but from next year 2014, the award will be opened for writers from all over the world, provided the book is in English language.
Indira Gandhi award for national integration 2012 is given Dr. M.S.Swaminathan , eminent scientist and is considered as the father of Green revolution.
Malala Yosufzai gets European Union’s Sakharov human rights award 2013.
Megan Young of Philippines becomes Miss world 2013.
Deutsche bank prize for Financial Economics 2013 given to Raghuram rajan , Governor,RBI.
Shanti swaroop Bhatnagar awards announced . Given in the field of Sciencce and technology in India. Dr. bhatnagar was eminent scientist and founder director of CSIR. Centre of Scientific and Indurstrial Research.
Ajit Agarkar retires from all forms of cricket.
Govt. of Canada announced honorary citizenship to Malala yusufzai. Earlier beneficiaries were Nelson Mandela and Aung San suu kyi of Myanmaar.
Ministry of Health and family welfare has appointed Rahul Dravid as the brand ambassador for its National tobacco control campaign.
Historian and author Ramchandra Guha wrote a book on the early years of Mahatma Gandhi titled “ Gandhi before India”. His other books are India after Indira, Patriots and partisans and makers of modern India.
Virat Kohli appointed brand ambassador of BSF.
Five new non-permanent members were elected by United nations security council. They are Chad, Chile, Lithuania, Nigeria and Saudi Arabia, of which Saudi Arabia has refused to accept the membership in protest against UN’s failure to resolve many issues like Syria , philistine and Nuclear non proliferation.
Prime minister of Hungary, Victor orban visited India. Capital Budapest, MOU signed for sharing traditional Indian medicine system.
Bangla desh signed an extradition treaty with India to enable the handing over of suspects and convicted prisoners between the two countries.
Prime ministers 4 day visit to Brunei and Indonesia , to attend 11^th ASEAN- India summit and 8^th East asia summit. Highlights -1) Separate mission for ASEAN with a full time ambassador. 2)Free trade agreement with a target of 100 billion dollar trade by 2015. ASEAN HQ is Indonesia Jakarta.
Geo-Scientific research vessel RV Samudra Ratnakar (not a defence vehicle) dedicated to the nation.
Supreme court clarifies that reservation ceiling of 50% does not apply to 3% quota for disabled persons, hence is mandatory in all govt. jobs.
General election in five states. Chhatisgarh 11^th and 19^th Nov., MP 25 Nov., Rajasthan 1^st Dec, Delhi 4^th Dec, Mizoram 4^th Dec. , results on 8^th Dec.
Rashtriya Ucchatar Shiksha Abhiyan RUSA is a centrally sponsored scheme for reforming higher education system in states. 1) During 12^th plan period 80 new universities, 100 new colleges and 54 model degree colleges will be created. 2)Infrastructure grants would be given to 150 universities and 3500 colleges to improve facilities. 3) centre : state funding would be 90:10 for NE states, JK, Himachal Pradesh and uttarakhand and 65:35 for other states.
Telangana would be 29^th state with 10 districts and a common capital Hyderabad for 10 years.
Supreme court bench headed by Chief justice P. sadashivam held that right to reject is part of fundamental rights given by the constitution under article 19.
Special pincode allotted by department of posts to Supreme court 110 201.
Union ministry of tourism launched “777 days of incredible Himalayas” campaign to attract tourist and to promote mountaineering in Himalayan region.
Ministry of Minority affairs launched a program JIYO PARSI to reverse the declining trend of Parsi population in India. It also launched another skill development program learn and earn for all minorities.
The Good Road, a Gujrati film by Gyan Correa nominated as official entry to OSCAR in the best foreign film category.
RBI banned zero % interest rate scheme for purchase of consumer goods to protect consumer interest and to bring transparency in interest rate structure. RBI observed that interest component is often passed on to the consumers in the form of processing fees and other charges.
RBI relaxed trade credit norms to raise funds from abroad , allowing all type of companies to avail trade credit facility from overseas for import of capital goods, not exceeding 20 millionUS dollars for next 5 years. Earlier only infrastructure sector was allowed.
Financial inclusion committee announced under chairman ship of Dr. Nachiket Mor. 15 member committee to frame a clear and detailed vision for financial inclusion in India .
LPG portability scheme launched in 24 cities of India. Consumer can switch between the three companies operating in India.
Government appointed Arvind mayaram committee to define FDI and FII.
Government notified GAAR General anti avoidance rules to be effective from 1^st April 2016 to check tax avoidance by investors routing their funds through foreign countries as FII.
India is largest recipient of foreign remittances. World bank report “Migration and remittance flows “ revealed India emerging as the largest recipient of among developing economies.
Raghuram rajan panel submitted report on new criterion for measuring backwardness of the status and basis to identify them in special category . Odisha followed by Bihar are most backward states and Goa tops the list on the positive side.
Tata and Singapore airlines new venture named as Tata SIA airlines ltd. It will offer full fledged services in domestic and international arena, not be a low cost airline. Tata 51% and SIA 49%.
Wallmart and Bharat enterprises ended up their business ties.
Indian railways to set up country’s biggest forged wheel plant in Raibareli.
Macau open squash title 2013 won by deepika pallikal. First squash player to get Arjun award.
Aditya Mehta is snooker player , stood runner up in Indian open snooker title.
China open tennis 2013 Novac DJokovic defeats Rafael Nadal ,Sania mirza with Cara black wins doubles women title.
Duleep trophy cricket India won jointly by north and south zone.
Mumbai Indians wins the championship 20-20 defeating Rajasthan Royals.
ICC Cricket world cup 2015 , Canberra , Australia. Afganistan qualified to become 20 th team .
8^th Asia cup women’s Hockey tournament 2013 played in Kualalumpur Malayasia . Indian team settled for bronze. It lost to South Korea in semifinals
Global competitive report by WEF World economic forum 2013-14 , india’s rank slipped by one rank to 60^th . Switzerland tops.
World bank report on ease of doing business 2014 . India slipped to 134 from 131 in 2013 report.
Hollywood film based on the life of Julian Assange- The Fifth state
Recent Cyclone and typhoons India –Phailin Philippines –Haiyan China – Usagi , Andhra Pradesh India – Helen , Japan –Wipha, Andhra Pradesh - LEHAR
China is taking 3 million arable land on lease in UKRAINE.
World tourism day – 27^th sep.
World rabies day – 28^th sept.
World heart day – 29^th Sept.
International day of older person – 1^st OCT.
World post day -8^th oct
World mental health day – 10^th oct
International day of girl child- 11^th Oct.
International day for disaster reduction. -13 oct
World osteoporosis day- 20 oct
United Nations day 24^th Oct.
Next NATO summit 2014 in England.
India won the sultan of johor cup hockey under 21 in Malaysia.
Gambia decided to leave group of commonwealth nations.
The first Tamil chief minister of srilankan province is C V Wighneshwaran.
Two days summit of APEC Asia pacific economic cooperation held in Indonesia.
The person nominated by US president Barrack Obama to head the American central bank, Federal Reserve, in place of Ben S barnanke is Janet Yellen.
The retail chain run by Bharti group , which has recently separated from wallmart is Easyday.
HEAL is the name of Government campaign for Leprosy awareness. Full form is Hire, Educate, Accept, Leprosy-affected.
Indian badminton player facing the threat of lifetime ban from IBA- Jwala Gutta.
China issues staple visas to Indians living in arunachal Pradesh as china claims it as a part of his country.
The world biggest oil producer country is now US surpassing Saudi Arabia.
The first country in the world to have introduced Tobin tax is ITALY. It is a tax levied on foreign investments to avoid overheating of domestic economy.
New debt ceiling approved by US senate after a long period of shutdown is 17 trillion $.
Mahatma Gandhi pravasi suraksha yojana is a pension scheme launched by govt. of India for Indians workers in UAE. LIC and Bank of India appointed main service providers. Indians in the age group of 18 to 50 are eligible. Govt. will make a contribution for first 5 years
Finance ministry distributed the capital inclusion fund to public sector banks. Out of a total allocation of 14000 crores SBI gets 2000 crore and 1800 crore each to IDBI and Central Bank. After this banks can raise further capital from the market through QIP Qualified institutional placement , FOP Follow on Public offer .
In a first ever Term repo offer RBI infuses 19000 crore liquidity in the banking system. Under term repo of 7 or 14 days banks can borrow .25 % of net DTL in each tenor 7days and 14 days.
RBI dy.governor Shri KC Chakravorty revealed that only 40000 of 600000 villages are having bank braches in India.
Supreme court says that lower courts can not impose more than double the amount of bounced cheque, in lieu of imprisonment. There is a provision of 2years imprisonment or double the amount of cheque or both punishments.
Instllments under reverse mortgage scheme will be tax free. Scheme is for senior citizens having no other income and mortgages their houses to banks to get a installment loan for their livelihood .
India post ties up with UAE’s post group company Wall street exchange for international electronic money transfer service. The product called “Instant cash”
Justice MB Shah commission has submitted its report on illegal mining across country.
K. Kasturirangan report on preservation of western ghats suggests prohibition of developmental activities in the area.
Railway introduces a concessional MST monthly season ticket “IZZAT” for workers of unorganized sector earning up to 1500/- per month and traveling up to 100 km daily to earn their livelihood.
India marginally improved from 65 to 63 position in Global hunger index 2013 prepared by IFPRI International Food Policy Research institute.
India –china signed Border defence cooperation agreement. Both PM Dr. Manmohan singh and Li Keqiang signed it.
Indian environmentalist Bunker Roy and Pakistan’s Malala were given this years Clinton Global Citizens awards.
Noble prizes announced.

Peace prize - Organisation for the prohibition of chemical weapons.

Literature – Alice Munro of Canada

Physics - Peter Higgs and Francois Englert

Medicine - Rothman , Schekman and Sudhof

Chemistry – Karplus, levitt and Warshel

Economics – Fama, Hansen and shiller

I am malala : A girl who stood up for education and was shut by the Taliban book written by malala.
“One two eight three :1283” Book by PELE , the footballer.

Australia’s new prime minister Tony Abott (Conservative party) sworn in on 18 sept. 2013, Defeating former PM Kevin Rudd (Labour party), who took over from Ms. Julia Gilard early this year.
Thomas batch (Germany) elected ninth president of International Olympic Committee, who replaced Jacques Rogge (Belgium).
Deepak Sandhu , first women Chief information commissioner in place of Satyanand Mishra.
Nishi vasudev will be first woman chief of any PSU - HPCL from Feb. 2014..
National Sports award includes 1) Rajeev Gandhi Khel ratna award 2) Arjun awards 3) Dronacharya award 4) Dhyanchand award 5) Tenzing norgay national adventure award 6) Rahtriya khel protsahan puruskar 7) Maulana Abdul kalam azad trophy.
Nina Davulury- First Indian origin American to win Miss America award.
Bank of Beijing opened china’s first direct bank. Direct banking is kind of branch less banking , which provides all its products through internet, telephones and ATMs. By eliminating the costs associated with bank branches, direct banks can make significant savings which they may pass on to clients via higher interest rates or lower service charges. One of the world's first fully functional direct banks was First Direct, which launched in the United Kingdom on October 1, 1989. The initial success of internet banking services provided by traditional banks led to the development of internet-only banks or "virtual banks". Many such banks are functioning in US and European countries.
ASEAN defence ministers meet in Brunei on 29th august 2013. India is not a member of ASEAN. Association of South east asian nations. Members Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei Darussalam, Viet Nam , Lao PDR , Myanmar and Cambodia making up what is today the ten Member States of ASEAN. Headquarter Indonesia Jakarta
G-20 summit 2013 held in Russia on 5-6 sept. Next summit in Brisbane in Nov. 2014. There is no headquarter of this summit. Every year chair moves to one of its member countries. It was decided to create a common database on tax related information of multinational companies, so that tax evasion can be controlled.
DTAA Double taxation avoidance agreement signed between India and Latvia.
India japan agreements – 1) Joint research initiatives in the field of Applied science. 2) cooperation in film and animation techniques 3) Currency SWAP agreement increased from 15 billion to 50 billion $ till Dec 2015. ( Signed during G-20 summit). Currency swap is an arrangement between two countries to accept each others currency for trading goods and services. This relieves them of their dependencies on dollar as mediating currency and help stabilize their own currencies.
Food security bill (not the ordinance, which had already been approved by the president and promulgated on 4^th July) now passed by Lok sabha(26 aug) and rajya sabha (2 sept) and finally signed by president on 10 sept. For details refer news diary dated 4^th (July).
Ahinsa Messenger program initiative of Ministry of women and child development to create awareness about violence against women and to assist the victimized women in getting justice. Amhinsa messengers will be appointed across country . program will be implemented through all anganwadi Kendra, all panchayati raj institution , sabla girls and poorna shakti kendras. National mission for empowerment of women will train these Ahinsa messengers.
Land acquisition , rehabilitation and resettlement bill 2011 Passed. HIGHLIGHTS

1) Minimum 70% of the landowners consent for PPP projects and 80 % for Private sector projects will be required for land acquisition.

2) Compensation of around 4 times of market value in rural area and 2 times of the market value in Urban areas will be given to farmers/landowners.

3) Several other benefits like land for employment and residential purpose apart from compensation.

4) Wakf land will not be acquired.

5) In case the land acquired is not utilized for the stated purpose within time frame , it would be returned to owner or state land bank.

Maharashtra has passed Anti black magic and superstition bill after the murder of a social activist Narendra Dabholkar in Pune , who was fighting against superstitions and black magic practices.
India’s first quarter GDP dropped to 4.4% April to June 2013 because of poor performance of manufacturing and mining sector. Last year in the same period it was 5.4% .
RBI liberalized norms for banks to open new branches, Banks can open branches in tier 1 centre (population above one lacs) without obtaining permission from RBI , if 25% branches are correspondingly opened in tier 5 and 6 centres in a particular year. At the same time tier 1 branches number should not exceed total branches opened in tier 2 to 6 areas.
TARC Tax Administration reform commission constituted on 26 august 2013 under the chairman ship of tax expert Parthsarathi Shome to review tax laws and suggest ways for a stable non adversarial tax administration. Seven member commission with a tenure of 18 months.
RBI introduced forex swap window to oil companies. Decided to meet entire daily dollar demand of oil companies like IOC, BPCL, HPCL to reduce pressure on foreign exchange market . This will substantially support the falling rupee against dollar.
RBI offered a concessional currency swap to banks for their FCNR foreign currency non resident deposits at 3% . Normally swaps available in open market charge around 7 % , which discourage the banks to take foreign currency deposits. This again is an step to boost inward flow of dollar in view of falling rupee. This facility will remain available till 30 november 2013.
PFRDA BILL 2011 passed. Highlights 1) 26% FDI allowed in pension fund management 2) PFRD Authority provided statutory status and powers. 3) The subscribers can choose fund manager as well as scheme packages to suit their needs. 4) Funds managers can partly invest in shares if pension beneficiary approves the risk plan.
Economic outlook 2013-14 . released by PMEAC Prime minister economic advisory council (Headed by C rangarajan) has lowered the growth forecase to 5.3% from 6.4 projected earlier.
Jubin Mehta , western classical composer , awarded Tagore prize for cultural harmony. Last year it was Late Ravi shankar who got this award.
Shri Raghuram rajan appointed Governor of RBI .

RBI Governor is appointed for 3 year term. D subbarao term was extended for 2 more year thereby allowing him to serve for 5 years.
Raguram rajan RBI Governor is 23^rd incumbent to this office. He was Chief Economic Advisor to Finance ministry before this appointment. He also served IMF as Chief Economist.
Four Deputy Governors are Dr. Urjit Patel, K.C.Chakravorty, H.R.Khan and Anand Sinha. A deputy governor in RBI can be appointed for a maximum of 5 years or till the age of 62, which ever is earlier.
Arundhati Bhattacharya, First Women MD & CFO of SBI.
Hasan Rohani – New President of Iran
Robert Mugabe elected as president of Zimbabwe for seventh time since 1980 when Zimbabwe got its independence from Britain.
Rajiv Gandhi Khel ratna puraskar for 2013 to Ronjan Sodhi , sports shooting.
Arjun puraskar 2013 to Virat kohli, P.V.Sindhu, Kavita chahal(boxing),Gaganjit Bhullar –Golf Rajkumari rathore –shooting and others.
Saraswati samman 2013 for literature instituted by kk birla foundation
APJ Abdul Kalam autobiography – My journey: transforming dreams into action.
Russia granted asylum to Edward Snowden for one year.
US vice president Joe Biden visited India in July 2013
Registration of births and deaths (amemdment ) bill 2012 passed . makes it compulsory to register all marriages irrespective of religion.
Company bill 2012 replaces 57 year old companies act 1956 . 2 % of profit of companies to be allotted to CSR activities. Clarifies criminal liability of auditors.
NGT National Green tribunal banned illegal sand mining activities across India.
Handwoven Pashmina shawls is spaciality of Kashmir.
INS Sindhurakshak an strategic defence submarine vessel badly damaged in a fire incident.
India launched its first indigenous aircraft carrier INS Vikrant.
India signed 100 million dollar agreement with world bank for low income housing project to be managed by National Housing bank.
Import duty on gold and jewellery raised to 15 %.
Rajeev Gandhi grammen vidhutikaran yojana (RGGVY) continued in 12^th year plan . launched in april 2005 90% contributed by Central Government and 10% by REC, which is the nodal agency. To be implemented by state government. Aims are – electrifying all villages , electricity to all rural households, free connection to BPL families.
SEBI’s deadline for meeting 25% public shareholding norm in private listed companies by jun 13 and 10 % for public sector undertaking by august 13 is over.
Interest subvention of 3% on crop loans continued by Central Govermnet.
FDI in print media to increase from 26 to 49%
P V Sindhu won bronze medal in world Badminton championship 2013.
14^th World championship in athletics were held in Moscow, Russia from 10-18 August 2013. Russia topped the tally with 7 gold. Jamaica’s Ussain Bolt became most successful athlete with eight gold and two silver in various world championships.
India beats Zimbabwe 5-0 in cricket ODI series on foreign soil.
Indian Badminton league . 14 aug to 31^st august 2013. No. of teams 6 , organizer Badminton association of India. Winner Hyderabad hotshot having Saina Nehwal on its side.
Ministry of housing and urban poverty alleviation proposed to launch National Urban Livelihoods mission in 12^th plan period , which will replace Swarn Jayanti shahari Rojgar yojana.
Jet Etihad deal – 24% stake purchased by Etihad airlines.
Tears you apart campaign is launched by Ministry of health and family welfare against the use of Tobacco , specially smokeless eatable forms of it.
Islamic banking norms approved by RBI . Kerala state was permitted to open Non Banking financial institution on the principles of Islamic finance. ( Interest giving and taking on funds is not allowed in Islam). Cheraman Financial Services Limited (CFSL) will be floated by Kerala State Industrial Development Corporation to function as a non-banking finance company (NBFC).
RBI measures to control Gold imports. 1) Authorised Gold importers like banks and gold trading agencies to ensure that 20% of imported lot should be made available for export in the form of jwellery . jewellery exports last year stood at around 70 tonnes. Authorised importers should sell their gold to only those entities , which are engaged in jewellery or other products. Govt has increased the import duty to 15% on gold and jewellery.
Govt. to provide a internet enabled mobile to every person of rural area who has completed 100 work days in MGNREGA.
Relaxation in Multibrand retail FDI norms. 1) 10 lacs population norms relaxed, stores can be opened in cities having population less than 10 lacs. 2) For local purchase of stocks limit for small industries increased from 5 crore to 10 crore. 3) 50% backend infrastructure compulsion will be only for one time investment up to 100 m $, further investments will be free from this norm. 4) 30% local sourcing norms will continue.
Tourism department new campaign 1) Clean India campaign at Tajmahal AGRA 2) Hunar se Rojgar tak , skill development program.
Ksheera Bhagya is scheme by Karnatak Govt. to provide school children 150 ml of milk three times a week.
Kumar mangalam Birla resigned from board of directors of RBI to avoid conflict of interest as Birla group has applied for opening a new bank.
Amjad ali Khan famous sarod player chosen for Rajiv Gandhi national sadbhavana award.
First cricketer to hit 400 sixes in international cricket – shahid afridi.
Aditya Mehta Indian snooker palyer won gold medal in the world games..

Hemant Soren sworn in as ninth Chief Minister of Jharkhand.
Sujata Singh is next Foreign Secretary of India in place of Ranjan Matthai.
P sadashivam , new Chief Justice of India replacing Justice Altmas kabir.
IIFA awards- Best film – Barfi , Best actor Ranbir kapoor, best Actress Vidhya balan (Kahani).
Kerala chief minister gets UN public service award for his mass contact program .
Vandana Gandhi first Indian woman to receive Dubai Govt.’s Emirates woman award for her ISO certified British Orchard Nursery Chain in middle east.
Veteran actor Pran , winner of 2012 Dada sahib falke award , passed away.
Douglas anglebart , inventor of computer mouse .
Croatia joins European Union as 28^th member.
European Union signed a deal for 7 year budget 2014-20.
Iran agreed to take all oil payments from India in rupees, after US and western countries blocked all other payment routes. Rupee transactions to Iran are routed through UCo Bank in Kolkata , where Iranian oil companies have opened their accounts. India has not bought a single barrel of oil from Iran since April 2013 as insurance firms had refused to provide insurance cover to refiners processing Iranian oil.
India Srilanka and Maldives sign tripartite maritime security pact. India was represented by our National security advisor Shri Shivshankar menon.
Indian and Nepal agreed for making joint publicity of their tourist destinations and offering joint tour package to the tourists of other countries.
India Albania signed double taxation avoidance agreement.
Visit of Britain prime minister David Cameron to India on 30 june 2013. UK will assist in development of Bangluru- Mumbai Economic Corridor.
Kundanklam Nuclear power plant commenced operations on 13 th July. Presently it started producing 400 mw power. Full capacity 1000 MW. In joint collaboration with Russia.
Airport authority of India will set up 51 low cost airports in tier 2 and tier 3 cities in India.
Bhiwani , mahendragarh (Hryana) and Bharatpur (Rajasthan) districts are included in NCR Delhi . National Capital Region.
Govt. lauched National Cyber Security Policy 2013. aimed to protect information and build capabilities to prevent cyber attacks.
Two new national universities decided to be setup in Raibareli (UP). 1.) Indira Gandhi National university for Women. And Rajeev Gandhi National Aviation University. In 2006 the Kaw committee had recommended setting up of National Aviation University
UNESCO (United nations education , scientific and cultural organization) grants world heritage status to Six forts of Rajastahan and mount fuji of japan in its World heritage committee metting at Phnom penh in Cambodia.
Rail link extended to Kashmir, Banihal (Jammu) to Qazigund (Kashmir) link inaugurated by Prime minister.
Himachal Pradesh became first smoke free state of the country. It achieved 85.42 % compliance under section 4 of Cigarettes and other Tobacco products act (COTPA)2003. The state had increased state taxes on bidi and cigarettes from 11 and 18 to 22 and 36 % to discourage this habit.

Latest warship with guided missile technology “ INS TRIKAND” was inducted in the Indian Navy. This one is the last of the 6 warships ordered from Russia . Earlier ones are Talwar, Trishul, Tabar, Teg, and Tarkash.

SEBI act was amended for providing powers to the market regulator to crack down on Ponzi Scheme.

What are Ponzi schemes - A fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors, rather than from any actual profit earned.

RBI announced measures to control Rupee fall with tightening of liquidity and increasing the cost of funds . 1) Increased Marginal Standing facility rates and Bank Rates from 8.25 to 10.25. 2) Planned a total sale of 12000 crore Govt. bonds. 3) The overall allocation of funds under the LAF will be limited to 1.0% of the Net Demand and Time Liabilities (NDTL) of the banking system, reckoned as Rs. 75,000 crore for this purpose.

RBI tightens control on foreign currency outflow from India.

1) Overseas investment limit of companies under automatic route brought down from 400% of net worth to 100% of net worth. Investment beyond this ceiling will require RBI permission.

2) For individuals , limit under Liberalised remittance scheme is brought down from 200000 $ to 75000 $.

3) Foreign currency inward deposits coming to Indian banks made exempt from CRR/SLR requirement.

3) Banks may offer higher interest rates to foreign currency deposits by one percent. It allowed banks to offer 400 basis point (4%) above LIBOR (London Inter bank offered rate) in place of 300 basis point ceiling earlier.

RBI imposed fines (penalty) on 22 private and public sector banks including SBI for violating KYC norms and their alleged involvement in Money laundering practices , exposed by a private web site magazine Cobrapost in a sting operation.

DGCA Director General of Civil Aviation office will be replaced with CAA Civil Aviation Authority. It will have full operational and financial autonomy and will meet the standards set by UN’s ICAO International civil aviation authority.

District Rural Development Agency DRDA dissolved. These were setup as independent societies in 1980 to oversee implementation of Rural Development ministry’s programs at district levels. V. Ramchandran committee recommended their dissolution.

India successfully launched its first navigational Satellite IRNSS-1A, Equivalent to US’s GPS system.

FDI allowed in various sectors in India : Updated up to Sept 2013 from Ministry’s website


SECTOR	TOTAL	AUTOMATIC	Govt. APPROVAL
Defence	26		26
Telecom	100	49	Above 49
Single brand retail	100	49	Above 49
Multi brand retail	51		51
Banking Private sector	74	49	Above 49
Public sector	20		20
NBFC	100	100
Aviation	49	49

Wimbledon 2013

1) Andy Murray (England) Defeated Novak Djokovic to become first Briton in 77 years to win wimbledon . Fred perry was last britishman to win wimbledon in 1936.

2) Marion Bartoli of France won women’s single category defeating Sabine Lisicki of Germany.

Brazil won FIFA Confederation cup defeating SPAIN .
India to host 2016 T-20 and 2023 World cup in cricket.

· S.K.Roy new Chairman of LIC to replace Shri T.S.Vijayan , who will be new IRDA (Insurance Regulatory and development Authority) Chairman in place of J. Harinarayan.

· Mallikarjun Kharge became Union minister of Railways. Prior to this he was Minister of Labour and Employment. Besides him 4 cabinet level and 4 state level minister also inducted . Sisram Ola (Labour and Emp), Oscar Fernandes (Road transport and highways), Girija vyas (Housing and Urban poverty) Dr. S.K.Rao (Textiles)

· New CAG – ShashiKant Sharma , Comptroller and auditor general of India, succeeded Vinod Rai.

Indian Bank Association , re elected Shri K.R.Kamath as cha

RESULT OF IBPS PO/MT OUT : GOOD LUCK : PLEASE CHECK AND ADVISE UR STATUS

2013-11-27T19:31:00.001-08:00

SO FAR FOLLOWING STUDENTS HAVE ADVISED THEIR SUCCESS

1) Shri Shailendra Hanumantaiya
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Gist of current affairs from December 2013 megazines

2013-11-26T22:16:00.001-08:00

Gist of current affairs from December 2013 megazines

Kanwardeep singh elected President of Indian Hockey Federation.
Girish B. Pradhan appointed Chairman of CERC Central electricity Regulatory Authority.
Arundhati Bhattacharya appointed chairman of State Bank of India.
S. Varadrajan CMD of BPCL and B.Ashok CMD of Indian Oil Corporation.
Ranjan Mathai , ex Foreign Secretary of India appointed as Indian High commissioner in UK.
N.Srinivasan third time elected as president of BCCI. Board of control for cricket in India.
Combodia’s parliament elected Hun Sen as prime minister. He has been in power since 1985.
First National Yash chopra memorial award 2013 goes to legendary singer Lata mangeshkar.
Man Booker Prize 2013 – Eleanor catton for her novel “The Lumanaris” . The novel is the lengthiest (852 pages) ever and she is (28 years) youngest ever to win this prize.
Man booker prize has so far been confined to authors from commonwealth nations, but from next year 2014, the award will be opened for writers from all over the world, provided the book is in English language.
Indira Gandhi award for national integration 2012 is given Dr. M.S.Swaminathan , eminent scientist and is considered as the father of Green revolution.
Malala Yosufzai gets European Union’s Sakharov human rights award 2013.
Megan Young of Philippines becomes Miss world 2013.
Deutsche bank prize for Financial Economics 2013 given to Raghuram rajan , Governor,RBI.
Shanti swaroop Bhatnagar awards announced . Given in the field of Sciencce and technology in India. Dr. bhatnagar was eminent scientist and founder director of CSIR. Centre of Scientific and Indurstrial Research.
Fortune Top 50 business leaders list 2013. Four Indian ladies Chanda Kochar, ICICI, 4^th, Shikha sharma ,Axis bank, 32^nd , Chitra ramkrishna, National stock exchange , 17^th and Naina Lal Kidwai, HSBC, 42^nd were part of the list.
Ajit Agarkar retires from all forms of cricket.
Govt. of Canada announced honorary citizenship to Malala yusufzai. Earlier beneficiaries were Nelson Mandela and Aung San suu kyi of Myanmaar.
Lalu Prasad yadav convicted in fodder scam. Becomes second parliamentarian to loose his seat after conviction by the court. First such parliamentarian was Rashid Masud.
Supreme court , in its recent ruling , banned all those legislators who got 2 years or more jail term.
Ministry of Health and family welfare has appointed Rahul Dravid as the brand ambassador for its National tobacco control campaign.
Historian and author Ramchandra Guha wrote a book on the early years of Mahatma Gandhi titled “ Gandhi before India”. His other books are India after Indira, Patriots and partisans and makers of modern India.
Virat Kohli apponted brand ambassador of BSF.
Five new non-permanent members were elected by United nations security council. They are Chad, Chile, Lithuania, Nigeria and Saudi Arabia, of which Saudi Arabia has refused to accept the membership in protest against UN’s failure to resolve many issues like Syria , philistine and Nuclear non proliferation.
China surpassed USA in Oil import , becomes biggest oil importer.
G-4 nations (Brazil,Germany, Japan, India) group passed a resolution to expedite UNSC United Nations Security council reforms adding more countries in its permanent and permanent council, in order to bettter reflect today’s geopolitical realities.
14^th India – Russia annual summit.- summit was co-chaired by Dr. Manmohan singh and president of Russia Vladimir Putin. Mascow state institute of international relations, conferred an honorary doctorate to PM shri Manmohan singh.
Prime minister of Hungary, Victor orban visited India. Capital Budapest, MOU signed for sharing traditional Indian medicine system.
Bangla desh signed an extradition treaty with India to enable the handing over of suspects and convicted prisoners between the two countries.
Prime ministers 4 day visit to Brunei and Indonesia , to attend 11^th ASEAN- India summit and 8^th East asia summit. Highlights -1) Separate mission for ASEAN with a full time ambassador. 2)Free trade agreement with a target of 100 billion dollar trade by 2015.
Geo-Scientific research vessel RV Samudra Ratnakar (not a defence vehicle) dedicated to the nation.
Supreme court clarifies that reservation ceiling of 50% does not apply to 3% quota for disabled persons, hence is mandatory in all govt. jobs.
General election in five states. Chhatisgarh 11^th and 19^th Nov., MP 25 Nov., Rajasthan 1^st Dec, Delhi 4^th Dec, Mizoram 4^th Dec. , results on 8^th Dec.
Rashtriya Ucchatar Shiksha Abhiyan RUSA is a centrally sponsored scheme for reforming higher education system in states. 1) During 12^th plan period 80 new universities, 100 new colleges and 54 model degree colleges will be created. 2)Infrastructure grants would be given to 150 universities and 3500 colleges to improve facilities. 3) centre : state funding would be 90:10 for NE states, JK, Himachal Pradesh and uttarakhand and 65:35 for other states.
Telangana would be 29^th state with 10 districts and a common capital Hyderabad for 10 years.
Supreme court bench headed by Chief justice P. sadashivam held that right to reject is part of fundamental rights given by the constitution under article 19 and directed the Election commission to provide a None of the above option in electoral machines.
Special pincode allotted by department of posts to Supreme court 110 201.
Union ministry of tourism launched “777 days of incredible Himalayas” campaign to attract tourist and to promote mountaineering in Himalayan region.
Ministry of Minority affairs launched a program JIYO PARSI to reverse the declining trend of Parsi population in India. It also launched another skill development program learn and earn for all minorities.
The Good Road, a Gujrati film by Gyan Correa nominated as official entry to OSCAR in the best foreign film category.
RBI banned zero % interest rate scheme for purchase of consumer goods to protect consumer interest and to bring transparency in interest rate structure. RBI observed that interest component is often passed on to the consumers in the form of processing fees and other charges.
RBI relaxed trade credit norms to raise funds from abroad , allowing all type of companies to avail trade credit facility from overseas for import of capital goods, not exceeding 20 millionUS dollars for next 5 years. Earlier only infrastructure sector was allowed.
Financial inclusion committee announced under chairman ship of Dr. Nachiket Mor. 15 member committee to frame a clear and detailed vision for financial inclusion in India .
LPG portability scheme launched in 24 cities of India. Consumer can switch between the three companies operating in India.
Government appointed Arvind mayaram committee to define FDI and FII.
Government notified GAAR General anti avoidance rules to be effective from 1^st April 2016 to check tax avoidance by investors routing their funds through foreign countries as FII.
India is largest recipient of foreign remittances. World bank report “Migration and remittance flows “ revealed India emerging as the largest recipient of among developing economies.
Raghuram rajan panel submitted report on new criterion for measuring backwardness of the status and basis to identify them in special category . Odisha followed by Bihar are most backward states and Goa tops the list on the positive side.
Tata and Singapore airlines new venture named as Tata SIA airlines ltd. It will offer full fledged services in domestic and international arena, not be a low cost airline. Tata 51% and SIA 49%.
Wallmart and Bharat enterprises ended up their business ties.
Indian railways to set up country’s biggest forged wheel plant in Raibareli.
Macau open squash title 2013 won by deepika pallikal. First squash player to get Arjun award.
Aditya Mehta is snooker player , stood runner up in Indian open snooker title.
China open tennis 2013 Novac DJokovic defeats Rafael Nadal ,Sania mirza with Cara black wins doubles women title.
Duleep trophy cricket India won jointly by north and south zone.
Mumbai Indians wins the championship 20-20 defeating Rajasthan Royals.
ICC Cricket world cup 2015 , Canberra , Australia. Afganistan qualified to become 20 th team .
8^th Asia cup women’s Hockey tournament 2013 played in Kualalumpur Malayasia . Indian team settled for bronze. It lost to South Korea in semifinals
Global competitive report by WEF World economic forum 2013-14 , india’s rank slipped by one rank to 60^th . Switzerland tops.
World bank report on ease of doing business 2014 . India slipped to 134 from 131 in 2013 report.
Hollywood film based on the life of Julian Assange- The Fifth state
Recent Cyclone and typhoons India –Phailin Philippines –Haiyan China – Usagi , Andhra Pradesh India – Helen , Japan -Wipha
China is taking 3 million arable land on lease in UKRAINE.
World tourism day – 27^th sep.
World rabies day – 28^th sept.
World heart day – 29^th Sept.
International day of older person – 1^st OCT.
World post day -8^th oct
World mental health day – 10^th oct
International day of girl child- 11^th Oct.
International day for disaster reduction. -13 oct
World osteoporosis day- 20 oct
United Nations day 24^th Oct.
Next NATO summit 2014 in England.
India won the sultan of johor cup hockey under 21 in Malaysia.
Gambia decided to leave group of commonwealth nation.
The first Tamil chief minister of srilankan province is C V Wighneshwaran.
Two days summit of APEC Asia pacific economic cooperation held in Indonesia.
The person nominated by US president Barrack Obama to head the American central bank, Federal Reserve, in place of Ben S barnanke is Janet Yellen.
The retail chain run by Bharti group , which has recently separated from wallmart is Easyday.
HEAL is the name of Government campaign for Leprosy awareness. Full form is Hire, Educate, Accept, Leprosy-affected.
Indian badminton player facing the threat of lifetime ban from IBA- Jwala Gutta.
China issues staple visas to Indians living in arunachal Pradesh as china claims it as a part of his country.
The world biggest oil producer country is now US surpassing Saudi Arabia.
The first country in the world to have introduced Tobin tax is ITALY. It is a tax levied on foreign investments to avoid overheating of domestic economy.
New debt ceiling approved by US senate after a long period of shutdown is 17 trillion $.
Mahatma Gandhi pravasi suraksha yojana is a pension scheme launched by govt. of India for Indians workers in UAE. LIC and Bank of India appointed main service providers. Indians in the age group of 18 to 50 are eligible. Govt. will make a contribution for first 5 years
Finance ministry distributed the capital inclusion fund to public sector banks. Out of a total allocation of 14000 crores SBI gets 2000 crore and 1800 crore each to IDBI and Central Bank. After this banks can raise further capital from the market through QIP Qualified institutional placement , FOP Follow on Public offer .
In a first ever Term repo offer RBI infuses 19000 crore liquidity in the banking system. Under term repo of 7 or 14 days banks can borrow .25 % of net DTL in each tenor 7days and 14 days.
RBI dy.governor Shri KC Chakravorty revealed that only 40000 of 600000 villages are having bank braches in India.
Supreme court says that lower courts can not impose more than double the amount of bounced cheque, in lieu of imprisonment. There is a provision of 2years imprisonment or double the amount of cheque or both punishments.
New policy for foreign banks announced. Foreign banks will get near national treatment if they operate in India through WOS wholly owned subsidiary, means they set up a subsidiary banking company in India and get registered here. They need to follow all Indian banking norms like other domestic banks.
Instllments under reverse mortgage scheme will be tax free. Scheme is for senior citizens having no other income and mortgages their houses to banks to get a installment loan for their livelihood .
India post ties up with UAE’s post group company Wall street exchange for international electronic money transfer service. The product called “Instant cash”
Justice MB Shah commission has submitted its report on illegal mining across country.
K. Kasturirangan report on preservation of western ghats suggests prohibition of developmental activities in the area.
Railway introduces a concessional MST monthly season ticket “IZZAT” for workers of unorganized sector earning up to 1500/- per month and traveling up to 100 km daily to earn their livelihood.
India marginally improved from 65 to 63 position in Global hunger index 2013 prepared by IFPRI International Food Policy Research institute.
India –china signed Border defence cooperation agreement. Both PM Dr. Manmohan singh and Li Keqiang signed it.
Indian environmentalist Bunker Roy and Pakistan’s Malala were given this years Clinton Global Citizens awards.
Noble prizes announced.

Peace prize - Organisation for the prohibition of chemical weapons.

Literature – Alice Munro of Canada

Physics - Peter Higgs and Francois Englert

Medicine - Rothman , Schekman and Sudhof

Chemistry – Karplus, levitt and Warshel

Economics – Fama, Hansen and shiller

I am malala : A girl who stood up for education and was shut by the Taliban book written by malala.
“One two eight three :1283” Book by PELE , the footballer.

RESULT OF REGIONAL RURAL BANKS PO & CLERK ANNOUNCED

2013-11-05T09:44:00.000-08:00

RRB PASS OUTS कृपया ध्यान दें HARYANA GRAMIN BANK IS FIRST TO ADVERTISE VACANCIES OF OFFICER SCALE I AND OFFICE ASSISTANT MULTIPURPOSE DATE OF APPLYING 21/11/13 TO 6/12/13 OFFICER POSTS 87 AND ASSISTANT 94 LOCAL LANGUAGE REQUIRED HINDI . keep watching IBPS website for the list of banks with vacancies advertised.

SCORES OF RRB PO/CLERK are available on IBPS website . Please check and share with us.
GK UPDATED UP TO 17th November 2013 :- Please refer previous article named "Latest GK"

The following students have reported their success in RRB PO/CLERK examination.

Shri Shailendra Hanumantaiya PO and Clerk Both
Shri Manish Jain    Clerk
Shri Udit Bhatt    PO and Clerk both
Shri Vishal Bhonsle    Clerk
Shri Ravi Gorana    Clerk
Dharmendra Dahiya    Clerk
Deepak Chawda PO
Ms Porva Gupta    PO and Clerk
Ms Varsha Rochwani PO and Clerk
Ms Madhurima Kaushal PO and Clerk
Ms Pratiksha Ambadekar          Clerk
Ms Deepika badgotya               Clerk
Ms Yogita Torani     Clerk
Shri Jasmeet singh                     PO and Clerk
Shri Saurabh Gupta                   PO and Clerk
Ms. Khushnuma Khan               Clerk
Shri Mayank Rathi                    Clerk

First of all , Happy Diwali to you all .

Those, who have appeared in RRB PO/CLERK exam , please check your results on IBPS website.GOOD LUCK .

Festival is over , now concentrate on your studies for Bank clerk exam seriously. This is the last opportunity for this year.

Classes will resume from 7th Nov. , For any difficulties or guidance , you are welcome with prior appointment.

GK will be updated on the blogsite on 15th November and 25th nov. 2013. Please check out new page (passages and vocab).

Latest GK

2013-10-24T02:40:00.002-07:00

3^rd Dec.2013

BITCOIN is a fresh cause of worry for all central banks’ monetary authorities. It is a digital currency created by some netizens in reward for solving some puzzles or complex algorithms. The value of one bitcoin has gone up to 1000$ or Rs.62000/- . This electronic currency is being accepted by some departmental and pizza stores in US and china. Central banks are worried about their misuse in money laundering process.

2^nd Decembaer 2013

P V Sindhu , badminton player from India has won Macau open Grand prix tournament.
Gaganjeet Bhullar wins Indonesia open GOLF competition.
Paul walker who started in Fast and furious series of Hollywood movies, died in an accident.
Kolkata based United bank of India’s chairman and managing director – Archana bhargava.
United bank of India has reported Rs.490/- crore loss in its second quarter due to high provision on NPAs.

1^st December 2013

World Aids day
SBI calls a meeting of its shareholders to pass a resolution to allot preferential shares to Government of India , who has expressed its willingness to ADD Rs. 2000 crore in the capital of SBI. Additional capital mobilization through QIP or FPO will also be discussed . All such investments by the Govt. are done in the name of President of India.
China to launch its first Moon rover mission to explore the surface of the moon.
Debit card swipe at point of sale terminals (shopping terminals) will now require a PIN password from 1^st December 2013 to minimize fraud cases.

30^thNov 2013

Farm sector(agriculture) pushes up September 2013 quarter growth.in GDP to 4.8%. Last June quarter it was 4.4 %. Agriculture alone grew at 4.6 against 1.7 last year. A good monsoon also meant that reservoirs were full and pushed up electricity production by 7.7%.

Forex reserves rise by 2.69 bn to $286.26 bn. The foreign currency assets constitute major part of the overall reserves rose by 2.76 bn.. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of Non US currencies such as Euro , Pound and Yen held in reserves. The Gold reserve remain unchanged at 21.227 billion..

BSNL in partnership with pental technologies launched an entry level feature phone for Rs.1799/- named Bharat phone, 3 inch display allows internet browsing and music/video downloads.

SEBI to bring norms for research analysts.

29^th Nov. 2013

Bodhgaya’s Buddist temple Mahabodhi temple’s dome was inlaid with 300 kg of gold donated by devotees of Thailand.
In a sting operation it was revealed that banks are still refusing to open zero balance account. Here is the rules and regulation of zero balance Basic Savings bank deposit account.
BSBDA , Basic savings bank deposit accounts , free services ATM Cards, maximum four withdrawals in a month(all types cash,atm, electronic means) , credits through electronic and cheques and cash, no initial balance requirement, No concession in KYC norms .
BSBDA – Small account. Simiplified KYC self attested photograph , no ID proof required, maximum balance Rs.50,000/- withdrawal not more than 10,000 per month, total deposits 100,000 Rs. In a year. Foreign credit not allowed, account valid for 12 months thereafter KYC ID proof and address proof required. The validity can be extended for further 12 months if depositor says that ID has been applied and will be produced soon.
Sachin tendulkar appointed brand ambassador of UNICEF
Tata Sons withdraws their application for new bank license.

24^thto 28^th Nov. 2013

Dhanush missile successfully tested from a naval ship in bay of Bengal. It is nuclear capable ballistic missile.

Iran – US and allies have reached to an historic agreement in Genewa. Iran sacrifices its nuclear ambition and agrees on more transparency , surveillance on its nuclear establishment in return for removal of American restrictions and growth oriented support from developed countries.Under the first phase of agreement it will stop enriching Uranium beyond 5% thereby will not be in a position to produce nuclear weapons. It will also convert or divert its 20% of enriched uranium stock in to an oxide form , which can not be used for military purpose. It will allow international inspection on its nuclear establishments. However civilian nuclear use will continue. Will get some relief from US led financial restrictions to improve its economy.

Indian American to head S&P rating services. Neeraj Sahai will assume his new post from Jan.6. 2014. S&P is an subsidiary company of McGraw hills financial services.

As decided earlier, Govt will nearly double the prices of natural gas from 1 april 2014. It was decided on the basis of rationalization of prices suggested by C Rangarajan committee. It will increase subsidy burden on the government.

RBI asks banks to use adhhar based biometric authentication or EVM chip and pin system to secure card payments. EVM (Euro pay, Master card Visa).

Yet another cyclone LEHAR to hit Andhra coast.

Pakistan names Lt. General Raheel Sharif and shri Tassadduque hussain Jilani as new army chief and chief justice respectively.

Rs. 150/- and Rs.5/- coins to be released in memory of Shri Motilal Nehru

23^rd Nov. 2013

Founder editor of Tehlka.com Mr. Tarun Tejpal was accused of molestation .
Norway Magnus Carlsen is now new world chess champion defeating vishwanathan anand of india.
National food security scheme gets conflicted with WTO international agreements. Under the WTO agreement on agriculture food subsidy support should not exceed 10% , which is going to be breached when our food security scheme is implemented. India is persuading WTO to have a peace clause for four years so as to avoid penalty on this ground. WTO nations are going to meet in Bali, Indonesia next month.

22^nd Nov. 2013

RBI to introduce concept of TCF “Treat Customers Fairly” for sale of third party products like insurance, mutual funds and capital market products. RBI is receiving complaints of mis-selling by banks. Mis-selling of products means hiding or mis representing some of the features of product, which can affect the decision of prospective buyer.
RBI raises alarm over rising NPAs and increasing loans to very sensitive real estate . Real estate , commodities and shares are classified as sensitive sectors. RBI in its report “ Trends and progress in banking” said that Gross NPA of banking system have risen to 3.6 % in March 3013 from 3.1 in 2012.

21^st Nov. 2013

Prithvi Shaw , 15 years old budding cricketer made history and created a record by making individual score of 546 in an under 16 inter school tournament in Mumbai . The tournament is known by the name of Harris Shield cricket tournament. The earlier record was in the name of arman jaffar (498) in 2010.

20^th Nov.2013

Bhartiya mahila bank inaugurated in Mumbai on the birth anniversary of Late Mrs Indira Gandhi,by Prime minister Dr. Manmohan singh and Smt. Sonia Gandhi. The bank is Headquartered at Delhi. First women focused bank , 75% of women in India are not having bank account. The bank was opened with 7 branches and will have 25 branches by the end of this financial year. It will have preference to women staffers but not essentially be a women only bank. It will be a full fledged bank providing all banking and financial services similar to other commercial banks but will offer special banking products for women clientele. It will be a universal bank with a balanced presence in rural, urban and metro centers. Initial capital is 1000 crore. May open branches abroad , if need is felt. It is a Public sector bank.
RBI directs Public sector banks to give loans to women self help groups at 7 % . The difference between the base rate and 7 % so offered will be compensated as interest subvention under Swarnjayanti Gram Swarozgar yojana SGSY by ministry of rural development.

19^th Nov. 2013

Indira gandhi’s 96^th birth day. Bharatiya Mahila bank to be inaugurated today.
German formula 1 player Sebastian vettel wins US grand Prix , sets a record of winning 8 consecutive wins in one year , just ahead of schumacker who had won 7 in a year.

18^thNov. 2013

Axis bank to be foreign owned. FIPB Foreign investment promotion board has approved its proposed increase in foreign share holding to 62% resulting in an inflow of Rs.6200 crore. The proposal will now go to Cabinet committee on Economic affairs as anything above 1200 crore needs its approval.
Forex currency assets increased by 819 million to make a total of forex reserves to 282 billion.
CBDT has allowed NTPC to float 1750 cr tax free bonds of the tenure between 10 and 12 years. The government had announced a total of 50000 crore worth of tax free infrastructure bonds this year.

17^th Nov. 2013

India wins second test match (200^th for Sachin) against West Indies by and innings and 126 runs on the third day itself.
Sachin was given a grand farewell off the ground with tears in his and everyone’s eyes. Sachin gave an emotional and very touchy speech expressing gratitude to his family, friends, fans and cricket authorities.
Govt. has also responded in the same tone and announced Bharat Ratna title to be conferred on him. He was the first sportsperson to receive this award and at 40 years of age ,also the youngest ever .
Bharat ratna title was also conferred on Shri C.N.R. Rao (79) , a world renowned Scientist and present chairman of PM’s Science advisory council. He is an authority on solid state and materials chemistry and has a significant contribution to India’s space odyssey MOM Mangal.
Bharat ratna was instituted in 1954 and so far given to 43 persons. Last time it was given four years ago to PT. Bhimsen Joshi in 2008.

16^th Nov. 2013

Sachin’s 74 against west indies with little possiblility of second innings to be played . It may prove to be his last farewell score.

Rising NPA is the biggest challenge faced by banking industry today. RBI will come up with new guidelines on bad loans soon. FM assures bankers immunity against failed policies if they acted in good faith and followed right procedures

15^th Nov.2013

Wholesale Price Index also shows(after double digit CPI ) upward trend with 8 month high figure of 7% in Oct 2013 mainly on account of spiraling vegetable and food prices.
China tops in no. of internet users (300 million) followed by US (207 M) and India just crossed 200 m mark.
INS Vikramaditya to be inducted in Indian navy as the latest Aircraft carrier after INS VIRAT, which is 55 years old now. made by Russia as “ Admiral Gorshkov” is renamed by India as INS Vikramaditya. It can handle 34 aircrafts on board.
PM to launch Mahila bank on Nov. 19 . Usha Anantsubramaniam was appointed as Chairman and CEO of the bank which will start with 6 branches with headquarters in delhi.

14^th Nov. 2013

Aziz premji , Wipro chief and IT tycoon , tops the list of Indian philanthropist (donor for social cause ) with donations worth 8000 crore.
A 1969 painting by British artist Francis Bacon set a world record for the most expensive artwork ever sold at auction at $142.4 million . Name of the painting was “Three studies of Lucian freud”.
The reconstructed world trade centre in NewYork has been recognized as America’s tallest building with 1776 feet height,.
SBI second quarter July to Sept 2013 profit down by 35% compared to last year’s same quarter on account of provision for NPA , staff wages hike, pensions etc.
The rising bad loans (Gross NPA)of banking industry have risen to a peak of 1.83 lakh crore at the end of June 2013. Finance ministry advised banks to take tough action on big companies turning NPA.
PFRDA chief Yogesh agrawal quits chairman’s post . Govt. apponts Anup wadhwan as new chief.
Benguluru Mumbai economic corridor, expected to generate 25 million jobs , preliminary work initiated.

13^th Nov. 2013

Index of Industrial Production IIP has come out of negative territory and depicted a growth of 2% in September. It was negative in the same period last year and was a mere .4% in August 2013. The eight core sectors have recorded a robust growth of 8% while manufacturing growth remained sluggish with .6% this year.
The Eight Core sector industries are Crude oil, petroleum and refinery products , coal, power , steel , natural gas, fertilizer and cement
Both Consumer Price indices for rural and urban areas have hit the double digit inflation at 10.11 and 10.2 respectively in Oct.2013.
In India Macro economic policies are framed around Wholesale Price Index and not on Consumer Price Index. CPI is also called retail inflation.
ATP world tour Tennis , London won by Serbian player Novak Jokovic defeating Rafael Nadal.

12^th Nov. 2013

Times of India newspaper completes 175 years. Vice President Hamid Ansari launches a book “Momentous Times”.
Indira Nooyi an Indian chairman and CEO of Pepsico Inc unveiled the plans of investing over $5 billion in india.

11^th Nov. 2013

Indian shooter Hina Siddhu won Gold medal in pistol shooting in world cup final in Munikh.
Veteran Rajasthani writer Vijay daan Detha is now no more. He was awarded with Padmashri in 2007 and Sahitya academy award in 1974. Films like Pariniti, Duvidha and Charandas chor were made on his stories.
Govt. to dissolve 10% stake in Indian Oil Corporation under its disinvestment drive , with current year 2013-14 ‘s target as 40,000 crore.

10^th Nov.2013

CHOGM Commonwealth Heads Of Government Meeting to be held in Shri Lanka next week. India will be represented by Extenal Affair minister Mr. Salman Khurshid , in place of Prime minister. It is held once in every two years in different member countries. Commonwealth nations are group of countries which were part of British rule at any part of time.

· CBI was declared Unconstitutional by Guwahati high court after hearing a petition challenging a CBI chargesheet by a Mahanagar Telephone Nigam employee, Navendra kumar. Later, Central Government approached the supreme court and was successful in getting a stay order against High court’s order. Attorney General Wahanwati represented Central Government.

· Philippines (Manila –capital) was severely hit by a typhoon named Haiyan, killing nearly 10000 people . Last month a similar storm called Phailin had landed on Indian state Odisha’s coast

World chess championship being held in Chennai. Two initial matches between Vishwanathan anand and Magnus Carlsen have ended in a draw. Magnus carlsen is a Norvegian chess player with current world no.. 1 ranking .
The current world champion is Viswanathan Anand, who won the World Chess Championship 2007 and successfully defended his title against former world champion Vladimir Kramnik in the World Chess Championship 2008, against Veselin Topalov in the World Chess Championship 2010 and against Boris Gelfand in the World Chess Championship 2012.

9^th and 8^th Nov. 2013

Govt. clears follow on Public offer of Power Grid corporation. Divests 17% stake in power grid , will raise about Rs. 5600 crore.
Standard and poor’s international credit rating agency has maintained the status quo about India’s rating at BBB – Minus retaining its negative outlook. BBB- is the lowest grade investment rating . Any down grade will reduce Indian rating to Junk status i.e., not favourable for investment. Next review will be done after Lok sabha elections , when the new government will take charge.
Moody’s current rating on India is Baa3 – stable and Fitch’s rating is BBB-Stable.
MNAIS Modified national agricultural insurance , requiring compulsory insurance of crops by the Farmers taking bank loans, which was tried on pilot basis in 50 selected districts has now been extended to the entire country from 1^st Nov. 2013 as part of the Five year plan. Govt. will provide 40 to 75% subsidy on the premium.
Sachin’s 199^th test match at eden Garden Kolkata won by India .

7^th Nov. 2013

SBI raises lending rates by 0.20% . The new base rate is 10.00% and Prime lending rate to 14.75%
RBI new norms on foreign banks released. Highlights 1) Foreign banks may expand their operations in India after floating a WOS wholly owned subsidiary registered in India. 2) Initial capital for opening a Banking subsidiary is 500 crore. 3) Wos will be treated at par (Near national treatment) with Indian domestic banks. They will have the liberty of opening branches without seeking individual branch opening permission however they need to follow all regulations like financial inclusion, priority sector financing, branch spread policy etc. like other Indian banks. 4) Some foreign banks which have a complex structure , or have a preferential policy for their domestic depositors (US, UK and Germany) will be compulsorily migrated to WOS structure. Others will have the option not to migrate to WOS , if they so want.5) Half of their board of directors should be persons of Indian origin and one third should be current Indian nationals. 6) foreign banks will be allowed to buy local Indian private banks.

6^th Nov. 2013

Nearly 1.34 lakh Indian workers already returning to their homeland as the Saudi Arabia’s Govt . is deporting all illegal migrant labour in their country under its new labour policy Nitaqat .
152 soldiers in Bangla desh have been sentenced to death penalty for their role in 2009 mutiny and massacre of 74 people including army officials. This was biggest ever mass trial in the world.

5^th November 2013

· Mars Mission India

· Comparision Mars with earth

	Mars	Earth
Atmosphere	95% CO2, 3% nitrogen, 0.13% oxygen	Nitrogen 77%,Oxygen 21%
No. of satellite	2 Phobos and Deimos	1 Moon
Average surface temperature	-63 degree Celsius	14 degree Celsius
Length of year	687 earth days	365 days

Designated as Mars Orbiter Mission MOM . Mars also called red planet.
ISRO director K. Radhakrishnan and Mission director P Kunhi Krishnan.
PSLV25 , Polar Satellite Launch Vehicle’s 25^th flight.
GSLV Geosynchronous Satellite Launch Vehicle uses indigenously developed cryogenic engine has capacity to launch heavier loads in to distant geosynchronous orbits (higher orbits ) of earth. So far we have carried out 7 operations on GSLV Of which only two were successful. The 8^th operation scheduled in Dec 2013 has been postponed .
Men are from Mars and women are from venus written by American author John gray.
So far five different nations(US, Soviet union ,EU,China and Japan) have tried this expedition and two of them have failed (Japan and China).
Launched from Shriharikota (Andhra Pradesh) Satish dhawan space center.

3^rd November 2013

Rohit sharma became third batsman to have scored double century(209) in ODI cricket after virender sehwag(219) and Sachin Tendulkar (200). He also created a world record of hitting 16 sixes in an ODI innings.
India won this series 3-2 against Australia. Virat Kohli declared man of the series.
Dr Bimal Jalan headed panel held its first meeting on bank license allotment on 1^st nov. 2013. Other members of high level advisory committee are Usha Thorat, CB Bhave, and Nachiket Mor.
Traditional samwat year (diwali to diwali) 2069 ended at Bombay stock exchange on a high note with sensex closing at 21197 points.
MCX-SX the third full fledged stock exchange has appointed Shri Gopal Krishna Pillai , former Union home secretary as Chairman and Thaomas Mathew , a former top official of LIC as Vice Chairman.
Ease of doing business report released by world bank and International Finance corporation placed India at 134th place among 189 countries, down from 131^st position last year. Singapore ranked first making it best place to do business in the world. Singapore was adjudged the best place to do business.

· Five pillars of Raghuram rajan

· Air Marshal Arup Raha will be next Air force chief succeeding NAK Browne who is retiring on 31 Dec. 2013 .

· Term repo facility for 7 and 14 days continued in the policy review. Quantum of term repo increased from 0.25% of Net Demand and Time Liabilities is increased to 0.5 %.

· Banks asked to charge its customer , actual charges of SMS sent to them and not the lump sum amount.

· Liquidity up to 0.5 per cent of bank-wise NDTL is available through overnight LAF repos.

· ction on the monetary policy framework will follow the submission of the Dr. Urjit Patel Committee report and the strategy to expand financial inclusion will be informed by the Dr. Nachiket Mor Committee report.

· Sebestian vettel became the youngest player to win 4 Consecutive formula 1 car racing titles, Grand prix. He won the Indian Grand Prix title on 27 oct.2013. He is a German and plays from Red Bull brand.

· Pune warriors dismissed from IPL by BCCI.

· 25^th Oct. is RTI day Right to information day.

----------------------------------------------------------------------------------------------------------
GOOD LUCK TO STUDENTS APPEARING FOR IBPS PO EXAM ON 26th or 27th October 2013

----------------------------------------------------------------------------------------------------------

GK updated up to 24^th Oct 2013

Capital infusion in Public sector banks approved by Finance ministry. This years budget allocation is 14000 crore as against 12517 crore last year. SBI gets 2000 crore followed by IDBI and Central Bank of India with Rs. 1800 crore.
China visit of Prime minister Manmohan singh . MOU On dams among nine agreement signed. Chinese primeminister Le Keqiang and president Xi Jinping.
Renowned playback singer Mannaday died at the age of 94 . His full name is Prabodh Chandra dey. First film Tammana.
Banking licence , Four Public sector units applied – Deparment of posts, IFCI, LIC housing finance and Tourism Finance corporation.
Prime minister visit to Russia – meets president Vladimir Putin.
Shri Rashid masud became the first MP ( Rajya Sabha) , to lose seat on conviction , after recent Supreme Court ruling.
RBI Mid quarter monetary policy review on 20 sept. 2013 Repo rate increased to 7.5 % Reverse repo 6.5, MSF and Bank rate down to 9.5 from 10.25 in july . RBI also reduced daily CRR balance limit of banks form 99 to 95%. But CRR unchaged at 4% and SLR at 23% .
RBI again reduced MSF and Bank Rate fom 9.5 to 9 % on 7^th Oct. 2013.
RBI introduces Term repos to provide additional liquidity. Term repos of 7-day and 14-day tenor for a notified amount equivalent to 0.25 percent of net demand and time liabilities (NDTL) .
Lalu Prasad convicted in fodder scam by a CBI court , loses his parliamentary membership. Prasad and 44 others were charged with fraudulent withdrawal to the tune of Rs. 37.7 crore on fake fodder bills from Chaibasa treasury.
Raghuram rajan panel for reviewing criterion for allocation of Central Govt. assistance to backward states. The panel recommended a multi dimensional index to decide about th backward ness of any state.
Supreme court gives Indian voters a right to reject all the candidates. A bench headed by Chief Justice of India P. Sathasivam asked the Election Commission to make changes in voting machines and ballot papers, giving voters a “none of the above”NOTA choice, and publicise this change widely.
Visit of President of Liberia
Ellen Johnson Sirleaf, President of Liberia came on an official visit to India on 11 September 2013. She also happens to be Africa’s first female President.

During the bilateral talks, Prime Minister Manmohan Singh announced a $ 144 million line of credit for Liberia. India also signed four agreements for cooperation in various fields, including the critical oil and gas sector.
Arundhati Bhattacharya has been appointed as the first woman managing director of State Bank of India.
Microsoft Corp has decided to buy Nokia’s mobile phone business for 5.44 billion euros, and the Finnish firm said its CEO, Stephen Elop, would join Microsoft when the transaction is closed. Finland’s Nokia, once the undisputed leader in mobile phones, has been struggling to respond to the challenge from smartphone makers such as Apple and Samsung.
German chancellor Anjela market reelected in a recent election for 4 more years.
BRICS to set up a $100 billion fund to stabilize currency markets.
US-Russia deal on Syria’s chemical weapons
US Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov reached agreement on 14 September 2013, on a framework for Syria to destroy all of its chemical weapons, and said they would seek a UN Security Council resolution that could authorise sanctions—short of military action—if Syrian President Bashar Assad’s government fails to comply.
US Fed leaves decides to continue with the stimulus
On 18 September 2013, the US Federal Reserve decided to leave its $85 billion a month stimulus programme in place, against broad expectations that it would reduce it as the economy grows.
The International Day for the Preservation of the Ozone Layer was observed on 16 September, with the theme “A Healthy Atmosphere, the Future We Want”.
China has opened the world’s highest civilian airport in a restive and remote Tibetan region of south-western Sichuan province.
Insurance repository is a facility that allows you to hold insurance plans in the demat form. As is the case with shares and bonds, which can be held in a demat account with a depository, you can keep your insurance policies in an e-insurance account with an insurance repository. IRDA has given five companies the status of insurance repositories and provided with a licence that will be valid till July 31, 2014. The five companies are: NSDL Database Management Limited, Central Insurance Repository Limited, SHCIL Projects Limited, CAMS Repository Services Limited and Karvy Insurance Repository Limited.
International Day of Elderly Persons is observed on 30 September.

World Heart Day is observed on 29 September.
Robert Mugabe sworn-in as Zimbabwe President for a new five-year term Capital – Harrare
August 13 is celebrated as international left-handers’ day.
India has bypassed Japan to become the world’s third largest Internet user after China and the United States,
July 12 has been heralded as Malala Day, to remember the contributions of Pakistan’s Malala Yousafzai
July 11 is observed as UN World Population Day.
The National Stock Exchange (NSE) has regained its position as the world’s largest bourse in terms of volumes in equity trades, according to the latest data by World Federation of Exchanges (WFE).
US Govt. shutdown 30 sept. to 16 Oct. 2013 : Whenever the financial proposals or budgets presented by the governments are not passed by American congress(their Parliament) by the due dates, the constitutional permission to use the state funds expires and no expenses can be incurred by the Government. In such circumstances Government functions with minimum security and essential services. Most of the Government offices remain closed and employees are not paid their salaries.

Fortunatly India has never come across such situation , but America has experienced such deadlocks in around 18 times in its democratic history. The longest shutdown was for 21 days between 15 dec 1995 to Jan 6 ,1996 during Clinton regime.

This time the dispute was about sanctioning funds for Patient Protection and Affordable Care Act (PPACA),commonly known as Obamacare, which was part of budget proposal. In US Financial year is from October to September every year and yearly budget approval deadline was 30 th sept.

Apart from this, Loan limit of the country was also required to be raised to avoid default in payment of the Government securities maturing on 16^th Oct. Incidentally a last minute pact between Obama administration and Republicans saved US from becoming defaulter. At the same time Budget was also passed and shutdown ended.

Late additions to this Post.

· Phailin hits Odisha coast , Classified as severe cyclone and not Super cyclone which requires wind speed of more than 220 kmp.

· Five states to go to polls in November. MP, Rajasthan, Mizoram, Chhatisgarh and Delhi . Chief election commissioner VS Sampat.

Lata Mangeshkar Received First National Yash Chopra Memorial Award

The Nobel Prize in Physics 2013

François Englert and Peter W. Higgs

"for the theoretical discovery of a mechanism that contributes to our understanding of the origin of mass of subatomic particles, and which recently was confirmed through the discovery of the predicted fundamental particle, by the ATLAS and CMS experiments at CERN's Large Hadron Collider"

The Nobel Prize in Chemistry 2013

Martin Karplus, Michael Levitt and Arieh Warshel

"for the development of multiscale models for complex chemical systems"

The Nobel Prize in Physiology or Medicine 2013

James E. Rothman, Randy W. Schekman and Thomas C. Südhof

"for their discoveries of machinery regulating vesicle traffic, a major transport system in our cells"

The Nobel Prize in Literature 2013

Alice Munro

"master of the contemporary short story"

The Nobel Peace Prize 2013

Organization for the Prohibition of Chemical Weapons (OPCW)

"for its extensive efforts to eliminate chemical weapons"

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013

Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller

"for their empirical analysis of asset prices"

· Dondia kheda (Unnav) UP is the place where ASI Archeological Survey of India is excavating the suspected precious metal.

· RBI bans 0 % interest rate loan schemes offered by banks for purchase of consumer products.

· Malala Yousafzai, the won an Russian award instituted in the name of Russian journalist and human rights activist Anna Politkovskaya.

Country Name	Capital	Currency
Afghanistan	Kabul	Afghani
Argentina	Buenos Aires	Peso
Australia	Canberra	Australian dollar
Austria	Vienna	Euro (formerly schilling)
Bahrain	Manama	Bahrain dinar
Bangladesh	Dhaka	Taka
Belgium	Brussels	Euro (formerly Belgian franc)
Bhutan	Thimphu	Ngultrum
Brazil	Brasilia	Real
Brunei	Bandar Seri Begawan	Brunei dollar
Cambodia	Phnom Penh	Riel
Canada	Ottawa	Canadian dollar
Chile	Santiago	Chilean Peso
China	Beijing	Yuan/Renminbi
Croatia	Zagreb	Kuna
Cuba	Havana	Cuban Peso
Cyprus	Nicosia	Cyprus pound
Czech Republic	Prague	Koruna
Denmark	Copenhagen	Krone
Ecuador	Quito	U.S. dollar
Egypt	Cairo	Egyptian pound
Fiji	Suva	Fiji dollar
Finland	Helsinki	Euro (formerly markka)
France	Paris	Euro (formerly French franc)
Germany	Berlin	Euro (formerly Deutsche mark)
Greece	Athens	Euro (formerly drachma)
India	New Delhi	Rupee
Indonesia	Jakarta	Rupiah
Iran	Tehran	Rial
Iraq	Baghdad	Iraqi Dinar
Israel	Jerusalem*	Shekel
Italy	Rome	Euro (formerly lira)
Japan	Tokyo	Yen
Kenya	Nairobi	Kenya shilling
Korea, North	Pyongyang	Won
Korea, South	Seoul	Won
Kuwait	Kuwait City	Kuwaiti dinar
Latvia	Riga	Lats
Lebanon	Beirut	Lebanese pound
Liberia	Monrovia	Liberian dollar
Libya	Tripoli	Libyan dinar
Malaysia	Kuala Lumpur	Ringgit
Maldives	Male	Rufiya
Mauritius	Port Louis	Mauritian rupee
Mexico	Mexico City	Mexican peso
Myanmar (Burma)	Naypyidaw or Nay Pyi Taw (administrative)	Kyat
Nepal	Kathmandu	Nepalese rupee
Netherlands	Amsterdam; The Hague (seat of government)	Euro (formerly guilder)
New Zealand	Wellington	New Zealand dollar
Nigeria	Abuja	Naira
Norway	Oslo	Norwegian krone
Oman	Muscat	Omani rial
Pakistan	Islamabad	Pakistani rupee
Philippines	Manila	Peso
Poland	Warsaw	Zloty
Portugal	Lisbon	Euro (formerly escudo)
Qatar	Doha	Qatari riyal
Russia	Moscow	Ruble
Saudi Arabia	Riyadh	Riyal
Serbia	Belgrade	Yugoslav new dinar. In Kosovo both the euro and the Yugoslav dinar are legal
Singapore	Singapore	Singapore dollar
South Africa	Pretoria (administrative); Cape Town (legislative); Bloemfontein (judiciary)	Rand
South Sudan	Juba	Sudanese Pound
Spain	Madrid	Euro (formerly peseta)
Sri Lanka	Colombo; Sri Jayewardenepura Kotte (legislative)	Sri Lanka rupee
Sudan	Khartoum	Dinar
Sweden	Stockholm	Krona
Switzerland	Bern	Swiss franc
Syria	Damascus	Syrian pound
Taiwan	Taipei	Taiwan dollar
Thailand	Bangkok	baht
Turkey	Ankara	Turkish lira (YTL)
Uganda	Kampala	Ugandan new shilling
United Arab Emirates	Abu Dhabi	U.A.E. dirham
United Kingdom	London	Pound sterling
United States of America	Washington D.C.	dollar
Venezuela	Caracas	Bolivar
Vietnam	Hanoi	Dong
Yemen	Sanaa	Rial
Zambia	Lusaka	Kwacha
Zimbabwe	Harare	Zimbabwean dollar

2013-10-19T06:28:00.004-07:00

Dear Students , ! WATCH OUT !

I have requested one of our students , who took his IBPS exam today , to share his experiences, surprizes and shocks , with other students through this blog . Please check it out around 9 pm .

19/10/2013 7.00 PM

RERVIEW YOUR TIME STRATEGY

Be aware : - No. of questions (subjectwise) have changed . Reasoning(50), Maths (50), Computer (20) English (40) and GA (40). So the suggested target timings in minutes are Reasoning 35m, Maths 35m,English 25, Computer 7-10,GA 15 -18

There are two passages appearing in english paper.
In mathematics be prepared for data sufficiency questions. Series may come in a different way , like one series is given and second series on the same logic is to be constructed from its first element. Comparision of x and y values derived from separate equations. 3 DI questions. Area volume surface area , just go thru their formulas.

General awareness paper is having good number of banking questions.

Shailendra Hanumantaiya has sent us GK questions (based on memory) of morning session.

hanumantaiya@gmail.com

7:54 PM (15 minutes ago)

to me

1) Which of the following country join European union as a new member?    Croatia
2) Tagore prize for harmony won by----?      Jubin Mehta
3) Lowland book written by----?                  Jumpa Lahiri
4) PAN card essential for how much money    50000 and abovetransaction?
5) Rastra bhasa Award GivenBy----?
6) BRICS initial Fund for setting Up          $50 billioncapital-?
7) Who among the following died recently, whoinvented the mouse?             Douglas anglebart
8)CCTV Full Form--------                     Closed circuit Television
9) SindhuRakshak Made BY?           Russia
10)Humming Bird Algo- Made BY ?
11) Which of the following bank launch Brach On Wheels? ICICI
12) Autralia,s new PM---------------    Tony Abott
13) SLR Full Form------------            Statutory liquidity ratio
14) Sarfaesi related to------       right of banks to sell the securities of loan defaulters.
15) where isnational institute of sports ?   Patiala
16) Fiscal Deficit of 2013-14 ?             4.8% of GDP
17) Fedral Bank Head name ?              head office - Kochi kerala MDCEO shyam shrinivasan
18) Which of the following is Largest Producer of GOLD?           China
19) Bank rate on 20 september 2013------   9.5
20) who has never been MP-(options-Amitab bachan,dharmendra,etc)
21) Limit of Micro Enterprise as per MSME
act 2006-                                                                     below 25 lakh
22) Corporate Debt Limit-
23) MICR FULL FORM- Magnetic inc character recognition.
24) MNEREGA days- 150 in a year
25) Loan limit for
housing to a person in
metropolitan city
26) Who keeps all credit information of      CIBIL
persons
27) Which among below a microprocessor
manufacturing company(options-                      INTEL
intel,microsoft
etc)
28) Name of tablet made by              SURFACE
microsoft.
29) Term associated with cricket-----
30) Which film got national award in
"best                                                               VICKY DONOR
entertaining movie" category
31) About "aam admi bima yogana"     Rural landless labours
32) Transfer & withdrawl limit in BSBDA account-------- 4 in a month
33) What is the main thing focoused in
raghuram
rajans recent RBI monitary policy
34) Who among following are major
applicant in new banking license(option-
tatason,mahindra etc).
35) Which of the following not
considered as proof of identity while                        Electricity bill
opening account in bank
(options-passport,electricity bill,adhar card,pan
card,driving license).
36) ROSHANI yojana launch for---------   naxal affected youth
37) Man Booker prize 2013----------         eleoner catton
38) Where European group meeting 2013 held?
39) Which of the following is the interest rate for
export?
40) Which of the following is the daily transaction limit for saving

Our student Yash chunekar has shared the question pattern as below.

yash chunekar <yash.chunekar20@gmail.com>

10:35 PM (7 minutes ago)

Reasoning: 50 ques,50 marks
1. One ques on seating arangemnt simple one like P likes green color,football and so on
2.one on input output
3.No ques on non verbal
4.operator ques
5. Ques on qualification eg. To get admission one shud have 40% marks,18 years older and soon if these conditions meet then he is eligible for admission
6.data sufficiency ques asked in reasoning and aptitude also
7.good amount of ques on assumption,inference,concl.
English:40 ques ,40 marks
1.Two lengthy para
2.sequencing of sentences 5 to 6 ques
Aptitude:50 ques,50 marks
1.no ques on approximations
2. 5 ques on series of below pattern, i dont remember exact no.
2 5 9 36 81 165
5 a b c d e
Now find e?
3. 5 ques on quadratic eq.
Solve two eq,one is in x other in y..then find relation betwen them like x<y etc.
4. One ques on mixture,one on speed and time
5.DI very complex calculations
Mostly finding average of all figures of a chart.mostly decimal and complex numbers.
General knowledge:
1.SLR full form
2.zubin mehta which award
3.recently anounced bank rate
4. How much intrest subventiom on housing schemes
5.BRICS bank capital?
6.basel is for what purpose?
7.NRega ques
8.fed reserve chairman
9.no sport ques
10. Which among them not type of npa loan
Standard,substandard,risk prone,doubtful
11.aam admi bima yojna for rural landless people
Computer: 20 ques 20 marks
Regards,
Yash

GK questions-20th oct Morning shift- Shared by our student --- Anu singh are available in the comment section of this Post.

ALL 40 GK Question of 20th Morning shift.
Downloaded from Internet.

IBPS PO GA Questions(20-10-2013) - Morning Session
1. Director of the bollywood film Satyagraha -- Prakash Jha
2. The first Indian-origin Miss America 2013 -- Nina Davuluri
3. Reserve Bank of India hiked Repo Rate on Sept 20, 2013 by -- 25 basis point to 7.5%
4. The limit of Rajiv Gandhi Equity Savings Scheme (RGESS) hiked to -- Rs. 12 Lakh per year
5. Which bank headquarter not in kolkata
6. NEFT is used for     Interbank fund transfer
7. ATM wrong deduction to be refunded within        7 days
8. Which country become the 28th member of EU -- Croatia
9. When RBI wants to absorb liquidity from market increase reverse repo,decrease repo or increase crr CRR increase
10. Head of Committee on Gold -- K U B Rao
11. Next G-8 Summit will be held in          Russia(moscow)
12. Which book is not written by Chetan Bhagat
13. Swarna Jayanti Shahari Rozgar Yojana       now merged with National Urban Livelyhood mission
14. Wheat ,Bajra comes under rabi or kharif crop    Kharif
15. GDP Growth Forecast by CSO for 2013-14
16. Name the joint venture of Tata Sons-Singapore Airlines -- Tata SIA Airlines Ltd
17. No. 1 Stock Exchange in the World -- NYSE/ (in terms of Market capitalisation)
18. Award given to Finance Minister P Chidambaram by ET Awards -- Business Reformer Award
19. Balance Sheet indicates what        position of assets and liabilities of a company as on fixed date.
20. What do you understand by TLE in POS machine -- Terminal Line Encryption
21. G20 Summit 2013 Venue -- Saint Petersburg, Russia
22. At a time what is maximum limit of Basic Savings Bank Deposit Account (BSBDA) -- Rs 50, 000
23. Infosys launches new version of banking solution -- Finacle11
24. MacMohan Line between which countries – India and China
25. Who developed rupee symbol – Udaya Kumar
26. CEO of Women Bank –     Usha anant subramanian
27. Full form of EASIEST -- Electronic Accounting System in Excise and Service Tax
28. Who is the Chief of Forward Markets Commission (FMC) -- Shri Ramesh Abhishek
29. Who among the following is not a member of Parliament
30. New Director General of CPRF – Dilip Trivedi
31. Micro enterprises Maximum investment Limit
32. IFSC Code is needed in?RTGS NEFT etc.
33. Information technology Act in which year? 2000
34. Who is the first indian to win shooting competion in world championship --
Rahi Sarnobat
35. Where has ONGC opened new gas based power plant recently?
36. Adviced Limit of draft granted by cheque?
37. 726 MW ONGC power project in which North-Eastern state -- Tripura
38. The 78-year-old RBI history book released by Prime Minister Manmohan Singh 'RBI History — Looking Back and Looking Ahead'
39. Full Form of TLE
40. Mandatory for companies to spend at least 2% of net profits on-CSR

Gist of current affairs from June 2013 Megazines

2013-10-18T04:02:00.003-07:00

Gist of current affairs from June 2013 Megazines

With this post, Last six months GA is covered. Good luck to those who are taking their exam on 19th or 20th

Nicholas Maduro elected as president of Venezuela.
Jnanpith award for year 2012 to Telugu writer R. Bharadwaja .
Pulitzer prize for fiction won bt author Adam Johnson for his novel , The Orphan Marster’s Son.
Ponds femina miss India 2013 winner Navneet Kaur dhillon , 2^nd Shobhita Dhulipala 3^rd Zoya AfroZ.
60^th National Film award – Best Actor – Irfan Khan (Pansingh Tomar), Best Actress Usha Jadhav for marathi film Dhagg, Best feature film – Paan Singh Tomar.
Chris Gayle – (Jaimacan cricketer) Fastest century 100 in 30 balls during IPL match also reached up to highest individual score in T-20 Game.
Rahi sarnobat beceme the first lady pistol shooter from India who won Gold in International Shooting sports Federation world cup in korea .
Shankuntala devi, a Mahematical wizard and guiness book record holder for fastest mental calculations passed away,
European Union tightened up bank lending rules. The new rules called CRD-4 ( Capital requirement directives) are similar to the Basel III rules.
Currency swap agreement between Brazil and China worth 30 billion dollars.
20^th March – International Happiness day. Declared by UN.
SAARC ministerial level meeting on Poverty alleviation held in Nepal. Kathmandu is headquarter of SAARC.
India and Mauritius signed on cooperation in the field of Election management and Administration. President Kailash Puryaag and Prime minister Navin Ramgoolam
Election commission announced that it is planning to issue driving license type plastic voert cards . New voter cards with color photos will be first issued in North eastern states Assam and Nagaland.
The Govt. of India approved the project for National Optic Fibre Network (NOFN) connecting 250000 Gram panchayats in the country through Optical cable. An special company named Bharat Broadband Network Limited has already been established for this purpose.
SC rejected Novartis (Swiss drug company) appeal to patent updated version of cancer drug called Glivec.
Malkhamb declared as state sport by Madhya Pradesh.
Border Gavaskar Trophy 2013 India won 4-0 defeating Australia. R. ashwin given man of the series.
India is the largest recipient of remittances in the world receiving 69 billion dollars according to World bank’s migration and development report. India is followed by China (60 b) , The Philipines (24 b) and Nigeria and Egypt (21b each).
World bank has announced a four year plan for seven low income states of India to bring down poverty. It has proposed to lend 3 to 5 billion dollars every year for a period of next 4 years. States are Chhatisgarh, Jharkhand, Madhya Pradesh , odisha Rajasthan and Uttar Pradesh.
CCEA Cabinet committee on Economic Affairs decided to de control sugar . This will abolish the rule for sugar mills to sell sugar to the government at a disounted price for PDS and other regulations on mills selling sugar in open market.
India first to test super sonic missile from underwater plateform . No country of the world has tested this combination. The missile was Bramhos (a joint venture of India and Russia) and test fired from a submarine underwater.
India and Finland to cooperate in solar energy applications .

BOOKS AND AUTHORS - - IMPORTANT DAYS OF THE YEAR

2013-10-16T03:04:00.001-07:00

BOOKS AND AUTHORS - - IMPORTANT DAYS OF THE YEAR

Contemporary writers

Name	Achievements and awards	Books
Vikram Seth	Kolkata born Indian novelist and poet. Padmshree, crossword book award, WH Smith Literary Award	A Suitable Boy, The Golden Gate, An Equal Music , Two Lives, All you who sleep tonight. A suitable Girl
Amitav Ghosh	Kolkata born, American Indian, nominated for Man booker prize	Sea of Poppies, The shadow lines, The Glass Palace The Hungary Tide, River of smoke, 41 The Calcutta Chromosome
Aravind Adiga	Chennai born Indian writer and journalist, His debut novel The white tiger, won 2008 Man Booker prize	The White Tiger, Between assassinations, The Last man in Tower.
V.S.Naipaul Nobel Prize in 2001 for his novel Half a Life, a story about an Indian immigrant to England and Africa.	V. S. Naipaul, in full, Vidiadhar Surajprasad Naipaul, is a British writer born and raised in Trinidad to which his grandfathers had emigrated from India as indentured servants. Nobel Prize in Literature, Man Booker Prize, Jerusalem Prize	A House for Mr. Biswas, A Bend in the River, Half a life, An area of Darkness, The Enigma of Arrival
Anita Desai	Anita Mazumdar Desai is an Indian novelist and the Emerita John E. Burchard Professor of Humanities at the Massachusetts Institute of Technology	Fasting Feasting, The village by the sea, In Custody, The Tenant of Wildfell Hall., Baumgartner's Bombay, The artist of disappearance
Arundhati Roy	Suzanna Arundhati Roy is an Indian author and political activist who is best known for the 1998 Man Booker Prize for Fiction winning novel The God of Small Things	The God of Small things, The cost of living, War Talk, Public power in the age of empire, Power politics., The Broken republic. The hanging of Afjal guru
Salman Rushdie	Sir Ahmed Salman Rushdie is a British Indian novelist and essayist. His second novel, Midnight's Children, won the Booker Prize in 1981.	The Satanic verses, Midnight’s children. The Enchantress of Florence Luka and the fire of life
Jumpa Lahiri	Jhumpa Lahiri is an Indian American author. Lahiri's debut short story collection, Interpreter of Maladies, won the 2000 Pulitzer Prize for Fiction, and her first novel, The Namesake, was adapted into the popular film of the same name.	The Namesake, Interpreter of Maladies, The lowland, Unaccustomed Earth
E.M. Forster	Edward Morgan Forster OM, CH was an English novelist, short story writer, essayist and librettist.	A Passage to India, Howards End, Where Angles fear to trade.
Kiran Desai	Kiran Desai is an Indian author. Her novel The Inheritance of Loss won the 2006 Man Booker Prize and the National Book Critics Circle Fiction	The Inheritance of Loss, Hullabaloo in the Guava Orchade.
Ruskin Bonds Sahitya Akademi Award for English writing in India in 1993, the Padma Shri in 1999,	Born in Kasauli (Himachal Pradesh) in 1934, Ruskin Bond grew up in Jamnagar (Gujarat), Dehradun, New Delhi and Simla. His first novel The Room on the Roof, written when he was seventeen, received the John Llewellyn Rhys Memorial Prize in 1957.	The Room on the Roof, The night train at Deoli, A flight of pigeions. Notes from a small Room, the blue umbrella
Rohinton Mistry whose book was withdrawn by the Mumbai University after the Shiv Sena's protest. “Such a long Journey”	Indian-born Canadian writer in English. Residing in Brampton, Ontario, Canada, Mistry is of Indian origin, originally from Mumbai. He practises Zoroastrianism and belongs to the Parsi community.	Such a long Journey, A fine balance, Family matters, Tales from Firojsha baug.
Kapil Sibbal	Present law and communication minister.	I witness- Partial observation, My world within.
A. P. J. Abdul Kalam	Bharat Ratna Avul Pakir Jainulabdeen Abdul Kalam usually referred to as Dr. A. P. J. Abdul Kalam, is an Indian scientist and administrator who served as the 11th President of India from 2002 to 2007	Wings of fire, Ignited minds, Target 3 Billion, The Luminous Spark, India 2020; A vision for Indian Youth, The family and the nation, Indomitable Spirit, Inspiring thoughts, Thoughts for change: We can do it, India – My- dream, You Are Born to Blossom, Turning point, You are unique
Chetan Bhagat	Chetan Bhagat, is an Indian author, columnist, and speaker. Bhagat is the author of bestselling novels	Five Point Someone, One Night @ the Call Center, The 3 Mistakes of My Life, 2 States, Revolution 2020, and What Young India Wants. MOVIES Kai po che on novel 3 mistakes of my life and 3 idiot on five point some one.
Barrack Obama	US President	Dreams from my Father, Audacity of Hope, Of thee I sing
Shashi Tharoor		The Elephant, the tiger and the Cell phone :Reflections on India in the 21st Century, The great Indian novel, Show business, The Five dollar smile. Riot a love storey. The Argumentative Indian. India- The future is now, pax indica
Amartya Sen Bharat Ratna	Amartya Kumar Sen, CH is an Indian philosopher and economist who was awarded the 1998 Nobel Memorial Prize in Economic Sciences	Development as freedom, The idea of justice, Inequality reexamined,
Ramchandra Guha	Indian historian and writer whose research interests include environmental, social, political and cricket history	India after Gandhi, Gandhi before India, The makers of modern india
Raghuram rajan	RBI governor and renowed economist	Fault lines , Saving capitalism from capitalists

Other Books and Authors

Imagining India- Ideas for the new century Nandan Nilekani

A Better India A Better World N. R. Narayan Murthy

Good Bye Shahzadi (A biography of Benzir Bhutto) Shyam Bhatia

Jinnah -India, Partition, Independence Jaswant Singh

Moon Walk (Autobiography ) Michael Jackson

My China Diary K. Natwar Singh

My Country My Life Lal Krishna Advani

My Kashmir, Conflict and Prospects of Enduring Peace ---Wajahat habibullah

My Life ( Autobiography ) Fidel Castro

Promises to Keep: On Life and Politics --Joe Biden. American vice president.

Reconciliation : Islam Democracy and the West Benizir Bhutto

Sapna Jo Pura Hua Vergees Kurian

The Cuckoo’s calling –Robert Gailbraith. The author J.K. ROWLING some times writes

under pseudonym Robert Gailbraith.

Inferno --- Dan Brown.

The day I stopped drinking milk – Sudha murti w/o N R Narayan murti

Shiva Trilogy I II III ( 3 books ) – Amish tripathi

The Blue Umbrella – Ruskin bond

Gandhi before India – Ramchandra guha

Curtain raiser ---- k natwar singh

Daughter of the east – Benazir Bhutto

The test of my life from cricket to cancer and back – Yuvraj singh

Straight from the heart – Kapil dev

Sunny days – Sunil gavaskar

Nirbasan , Lajja -- Taslima Nasreen

Walking with lions – tales from a diplomatic past. - k Natwar singh

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Gist of current affairs from July 2013 Megazines

2013-10-15T03:13:00.001-07:00

Gist of current affairs from July 2013 Megazines

· Siddharamaiyah of congress party became Chief minister of Karnataka.

· Takehiko Nakao (Japan) on 27 april appointed president of ADB Asian development Bank succeeding Haruhiko Kuroda., who was appointed as Governor of Bank of Japan.

· UN Public service award to MP for its initiative “Gramin Haat” It was started to strengthnening and empowering the women’s self help group.

· 12^th may , International Nurses day. The National Florence Nightingale award for Nursing professional were presented on this day.

· Whitley Award , also known as green oscar was given to Indian biologist Dr. Aparajita Datta in London for her efforts in conservation of a rare species in dense tropical forests of Arunachal Pradesh.

· Famous Dhrupad vocalist Ustad Zia Fariduddin Dagar passed away . Dhrupad is the oldest north Indian clsssical music form.

· IMF approved $1.3 billion loan for Cyprus to stabilize its financial sector. IMF loan is a part of a rescue package of 10 billion Euros (12.9 billion $) approved in March from Eurozone bailout fund. Cyprus is the fourth country since 2010 after Greece , Ireland and Portugal to get such bailouts.

· The largest Biogas plant was set up in Finland.

· IBSA India –Brazil and South Africa is a trilateral development initiative to promote south –souh cooperation and exchange. Recently IBSA Women’s forum meet was held which was represented by Mrs Krishna Teerath , Minister of women and child development from India.

· OBC creamy layer criterion raised to 6 lakh from 4.5 lakh earlier.

· Raguram rajan headed 6 member expert committee to review norms to measure backwardness of states The new criterion such as distance of the state from national economic averages, per capita income and other human development indicators will be considered.

· Nirmal Bharat Abhiyan .. Govt. has accorded a high priority to the sanitation sector. In 12^th plan an outlay of Rs. 34,377 crore has been provided for rural sanitation as against 6,540 crore in 11^th plan. The goal is to achive 100% access to sanitation for all rural households by 2022 under NBA .

· INFLATION INDEXED BONDS : IIB :As promised in the budget Govt. has decided to launch IIBs as instruments that will protect savings of poor and middle class from inflation and incentivise house hold sector to save in financial instruments rather than buy gold.

· NSE launched Debt trading platform . Retail investor will get the opportunity to enter in to debt segment in a reliable , liquid and transparent manner. Corporate bonds will be available to the public in secondary market.

· Economic review 2012-13 by PMEAC . Dr C. Rangarajan chairman . Highlights. 1) projected economic growth rate 6.4% 2) subsidy and CAD to be reduced. 3) Faster clearance to stalled infrastructure projects required. 4) projected CAD 4.7% against 5.1 of 12-13. 5) Gold import bill estimated at $45 billion and OIL at $125 billion.

· BSE launch Islamic Equity index comprising of companies which fulfill Islamic principals like bans on investing in alcohol , tobacco and gambling related activities.

· DBTL – Direct benefit transfer for LPG will be launched in 20 aadhaar covered districts from 1^st June 2013. 1) 9 subsidised cylinders every year 2) 2) consumer to link their bank account to adhaar and provide such account details to LPG dealer. 3) Subsidy will be paid in advance as soon as consumer makes a cylinder booking.

· New guidelines for Indira aawaas yojana for rural poor. 1) Allocation for each housing unit increased from 45000 to 75000 rupees. 2)building toilet has been made compulsory. 2) Manual scavengers and freed bonded labours will be given preference. 3) fund allocation will be made through state govt. . The changes were made after the Govt. agreement with Jan satyagraha representative in agra on 11^th Oct. 2012 , also known as Agra agreement on land reforms , signed by Minister for rural development , Shri Jairam Ramesh.

· National Rural Livelihood Mission. – (Aajeevika). Some important changes announced in the scheme 1) BPL Criterion relaxed 2) The participative identification of poor process PIP will be implemented .3) Women self help group will be strengthened.

· 10% Equity sale approved in coal India lt.. part of total disinvestment target of Rs. 40000 crore for this year.

· $325 billion export target set for this year 13-14.

· Etihad Airways (Abu Dhabi ) got 24% stake in Jet airways.

· Walmart surpassed Exxon Mobil co. in profit figures. Walmart topped the Fortune magazine’s top 500 list with 469.2 billion revenue.

· David beckham , legendary footballer and former England captain announced retirement.

· Thomas cup(World men’s badminton) and Uber cup (world women’s badminton) . Final matches to be held in New Delhi.

Gist of current affairs from August 2013 Megazines.

2013-10-13T06:59:00.001-07:00

Gist of current affairs from August 2013 Megazines.

S.K.Roy new Chairman of LIC to replace Shri T.S.Vijayan , who will be new IRDA (Insurance Regulatory and development Authority) Chairman in place of J. Harinarayan.
Hasan Rouhani , new president of Iran .
Mallikarjun Kharge became Union minister of Railways. Prior to this he was Minister of Labour and Employment. Besides him 4 cabinet level and 4 state level minister also inducted . Sisram Ola (Labour and Emp), Oscar Fernandes (Road transport and highways), Girija vyas (Housing and Urban poverty) Dr. S.K.Rao (Textiles)
New CAG – ShashiKant Sharma , Comptroller and auditor general of India, succeeded Vinod Rai.
Indian Bank Association , re elected Shri K.R.Kamath as chairman for 2013-14.

· Indian Banks' Association (IBA), formed on 26 September, 1946 as a representative body of management of banks operating in India ,based in Mumbai.^[1] With an initial membership representing 22 banks in India in 1946, IBA currently represents 173 banking companies operating in India. IBA was formed for development, coordination and strengthening of Indian banking, and to assist the member banks in various ways including implementation of new systems and adoption of standards among the members.

Pakistan new prime minister – Nawaz Sharif
Palestine new PM – Rami Hamadallah.
Man Booker international prize for won by American writer Lydia Davis.
Singer Hariharan awarded Lata Mangeshkar samman in indore . Award instituted by MP Govt.
G-8 summit in Geneva (17-18 June) supported peaceful settlement of Syria conflict.
Bashar –al- asad is president of Syria , Capital- Damascus, Currency- Syrian pound.
Syria, officially the Syrian Arab Republic, is a country in Western Asia, bordering Lebanon and the Mediterranean Sea to the west, Turkey to the north, Iraq to the east, Jordan to the south and Israel to the southwest.
World population prospects report released by UN predicts India to be most populous nation by 2028.
India offers $150 million loan to Myanmar for Special Economic Zone development.
Myanmar - President U. Thein Sein, capital Nay Pay Taw , currency Kyat.

· India's Look East policy represents its efforts to cultivate extensive economic and strategic relations with the nations of Southeast Asia in order to bolster its standing as a regional power and a counterweight to the strategic influence of the People's Republic of China. Initiated in 1991, marked a strategic shift in India’s perspective of the world. It was developed and enacted during the government of Prime Minister P.V. Narasimha Rao and rigorously pursued by the successive administrations of Atal Bihari Vajpayee and Manmohan Singh.^{[1][2][3][4][5]}

President of Afganistan Hamid karzai visits India. Gets honorary doctorate from lovely professional university , Phagwara , Punjab. India is constructing Salma dam and new parliament bulding in Afghanistan.
Afghanistan capital Kabul, Currency – Afgani
India targets 80% literacy by 2017. Present literacy rate is 74%. Govt. is planning to implement it through its Saakshar Bharat programme (Operational in 372 districts covering nearly 1.5 lakh gram panchayat in 25 states) and panchayati raj institutions.
Atal Bihari Vajpayee Hindi University set up in Bhopal..
FDI in Telecom increased from 74 to 100%. Out of which 49% will be under Automatic route.
Three Private banks Axis bank, HDFC bank and ICICI bank were penalized for violation of KYC norms and antimoney laundering guidelines.
Restriction on Cooperative banks, scheduled banks and NBFCs to grant loan against Gold coins.
RBI relaxed time line for starting banking business from one year to 18 months after getting license. New licensees will have to setup Non operative financial holding co. NOFHC and open its branches within 18 months.
160 years old Telegram services offered by BSNL discontinued permanently on 15 June 2013.
Limit of Foreign investment in Govt. securities enhanced from $25 billion to 30 billion to attract more foreign exchange
NSDA – National Skill Development Agency has been set up to meet the growing demand of skilled work force in both public and private sector. 12^th plan envisages 82 lakh skilled workforce to be create by 2017 and National policy on skill development aims at producing 500 million workforce by 2022. Existing three agencies like Prime minister’s council on skill development, NSD Coordination board and office of advisor to PM on skill development.
Extension of RBSY- Rashtriya swasthya bima yojana. Coverage extended to Rickshaw pullers, rag pickers, mine workers ,rickshaw drivers, sanitation workers , Street vendors,beedi workers, domestic workers , building and other construction workers, MGNREGA workers , who have completed 15days of work in the previous year. Scheme provides for health insurance cover for every BPL family of Rs. 30000/- per year. Center & states to contribute 75 and 25% respectively. Cashless facility is also available. Beneficiary has to contribute only 30/- per year, rest is given govt. Scheme started in 1 april 2008.
China developed fastest computer. A survey of top 500 computers revealed that China’s Supercomputer Tianhe-2 is the fastest super computer of the world. .
ICC Championship trophy. India defeated England in the finals of ODI Cricket tournament organized by International Cricket Council. Last India the trophy was jointly won by India and Srilanka.
French Open tennis tournament . Rafael Nadal (spain)(First to win French title 8 times) beats David ferrer of Spain . Women’s single final won by serena Williams (America) against Mario sharapova (Russia).
IPL-2013 year 6th, Mumbai Indian topped it for the first time defeating Chennai Super kings. So far Chennai held it twice while Rajasthan royals, deccan chargers and Kolkata knight riders won it once each.
Sudirman cup , Thirteenth World Badminton title - 2013 won by China defeating South korea.
England to host 2019 Cricket world cup tournament.
Asian athletic championship held in Pune.
Indian women Basketball team won gold in FIBA ASIA 3x3 basketball tournament 2013 in Doha, defeating Mongolia team.
Amitav Ghosh ‘s latest novel in the race of Warwick prize “ River of Smoke”
CTT Commodity transaction tax came into effect from 1^st July 2013.
India signed USD 255 Million loan agreement with World bank for AIDS control programme.
Confederation cup associated with Football.
Financial sector legislative reforms commission FSLRC , Chairman – Shri B.N.Srikrishna recommended to reduce the number of regulators in financial services like commodity, stock market, pension and insurance. Suggested a Unified Financial Authority for all non-banking financial services.
SBI to open 1200 branches in this fiscal year.
Roshni scheme for Naxal affected areas aims to skilling and placement of 50000 youth from 24 Naxal affected areas across 9 states.
Union cabinet approved Malayalam as the country’s 5Classical language after Tamil, Sanskrit. Kannad and telugu.
World bank urged to stop surveying and publishing of Doing business index. The latest index ranked Singapore on top and gave china and India a rank of 91 and 132 respectively . It is supposed to assess the legislative and regulatory environment’s impact on doing business in a specific country.
European inventor award 2013 to India born Ajay Bhatt led team working at Intel USA for inventing USB Universal Serial Bus technology in computer.
K. Srikanth , Badminton player , first Indian to win Thailand open .

Gist of current affairs from September 2013 Megazines.

2013-10-10T11:48:00.005-07:00

Gist of current affairs from September 2013 Megazines.

Quatar’s Dahlan Jumman Al-Hamad elected new president of Asian athletics association defeating Suresh kalmadi of India.
Dr. T.C.A Raghavan next high commissioner of India to Pakistan.
Hemant Soren sworn in as ninth Chief Minister of Jharkhand.
NASSCOM , National Association of software companies gets new president R. Chandrashekhar.
Sujata Singh is next Foreign Secretary of India in place of Ranjan Matthai.
P sadashivam , new Chief Justice of India replacing Justice Altmas kabir.
IIFA awards- Best film – Barfi , Best actor Ranbir kapoor, best Actress Vidhya balan (Kahani).
Kerala chief minister gets UN public service award for his mass contact program .
Vandana Gandhi first Indian woman to receive Dubai Govt.’s Emirates woman award for her ISO certified British Orchard Nursery Chain in middle east.
Veteran actor Pran , winner of 2012 Dada sahib falke award , passed away.
Douglas anglebart , inventor of computer mouse .
The United Nations General assembly (193 member)constituted a new High Level Political Forum(HLPF) to replace the united nations commissions on Sustainable Development ( UNCSD). The decision is based on the recommendation of RIO+20’S outcome document of 2012 “UN conference on sustainable development , The future we want.” The forum will meet once in a year under the sponsorship of UNECOSOC Economic and social council.
Croatia joins European Union as 28^th member.
European Union signed a deal for 7 year budget 2014-20.
Iran agreed to take all oil payments from India in rupees, after US and western ban blocked all other payment routes. Rupee transactions to Iran are routed through UCo Bank in Kolkata , where Iranian oil companies have opened their accounts. India has not bought a single barrel of oil from Iran since April 2013 as insurance firms had refused to provide insurance cover to refiners processing Iranian oil.
India Srilanka and Maldives sign tripartite maritime security pact. India was represented by our National security advisor Shri Shivshankar menon.
Indian and Nepal agreed for making joint publicity of their tourist destinations and offering joint tour package to the tourists of other countries.
India Albania signed double taxation avoidance agreement.
MGPSY scheme for blue collar Indian workers in gulf. Mahatma Gandhi Pravasi Surksha Yojana .a pension and life insurance scheme for Indian workers in Gulf Countries.
Visit of Britain prime minister David Cameron to India on 30 june 2013. UK will assist in development of Bangluru- Mumbai Economic Corridor.
Kundanklam Nuclear power plant commenced operations on 13 th July. Presently it started producing 400 mw power. Full capacity 1000 MW. In joint collaboration with Russia.
Airport authority of India will set up 51 low cost airports in tier 2 and tier 3 cities in India.
Bhiwani , mahendragarh (Hryana) and Bharatpur (Rajasthan) districts are included in NCR Delhi . National Capital Region.
Govt. lauched National Cyber Security Policy 2013. aimed to protect information and build capabilities to prevent cyber attacks.
Two new national universities decided to be setup in Raibareli (UP). 1.) Indira Gandhi National university for Women. And Rajeev Gandhi National Aviation University. In 2006 the Kaw committee had recommended setting up of National Aviation University
UNESCO (United nations education , scientific and cultural organization) grants world heritage status to Six forts of Rajastahan and mount fuji of japan in its World heritage committee metting at Phnom penh in Cambodia.
Rail link extended to Kashmir, Banihal (Jammu) to Qazigund (Kashmir) link inaugurated by Prime minister.
Himachal Pradesh became first smoke free state of the country. It achieved 85.42 % compliance under section 4 of Cigarettes and other Tobacco products act (COTPA)2003. The state had increased state taxes on bidi and cigarettes from 11 and 18 to 22 and 36 % to discourage this habit.

Rajasthan , Mukya mantri bijli bachat lamp yojana . Two CFL free to all village household and Urban BPL families.

Latest warship with guided missile technology “ INS TRIKAND” was inducted in the Indian Navy. This one is the last of the 6 warships ordered from Russia . Earlier ones are Talwar, Trishul, Tabar, Teg, and Tarkash.

Special Liquidity facility for Mutual Funds. RBI on 17 July 2013 opened additional liquidity facility of max 25000 crore to commercial banks to lend onwards to mutual funds, which are facing heavy redemption (withdrawals) due to liquidity tightening by RBI to control Rupee depreciation against dollar.

SEBI act was amended for providing powers to the market regulator to crack down on Ponzi Scheme.

What are Ponzi schemes - A fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors, rather than from any actual profit earned.

RBI announced measures to control Rupee fall with tightening of liquidity and increasing the cost of funds . 1) Increased Marginal Standing facility rates and Bank Rates from 8.25 to 10.25. 2) Planned a total sale of 12000 crore Govt. bonds. 3) The overall allocation of funds under the LAF will be limited to 1.0% of the Net Demand and Time Liabilities (NDTL) of the banking system, reckoned as Rs. 75,000 crore for this purpose.

RBI tightens control on foreign currency outflow from India.

1) Overseas investment limit of companies under automatic route brought down from 400% of net worth to 100% of net worth. Investment beyond this ceiling will require RBI permission.

2) For individuals , limit under Liberalised remittance scheme is brought down from 200000 $ to 75000 $.

3) Foreign currency inward deposits coming to Indian banks made exempt from CRR/SLR requirement.

RBI imposed fines (penalty) on 22 private and public sector banks including SBI for violating KYC norms and their alleged involvement in Money laundering practices , exposed by a private web site magazine Cobrapost in a sting operation.

DGCA Director General of Civil Aviation office will be replaced with CAA Civil Aviation Authority. It will have full operational and financial autonomy and will meet the standards set by UN’s ICAO International civil aviation authority.

District Rural Development Agency DRDA dissolved. These were setup as independent societies in 1980 to oversee implementation of Rural Development ministry’s programs at district levels. V. Ramchandran committee recommended their dissolution.

Natural gas prices to be increased (nearly doubled) from April 2014. Govt. approved this on the basis of C. Rangarajan ‘s formula under whose chairmanship a committee was formed to recommend a Gas pricing formula.

India successfully launched its first navigational Satellite IRNSS-1A, Equivalent to US’s GPS system.

FDI allowed in various sectors in India : Updated up to Sept 2013 from Ministry’s website


SECTOR	TOTAL	AUTOMATIC	Govt. APPROVAL
Tea sector including tea plantations	100		100
Petroleum and natural gas refining	49	49
Exploration	100	100
Defence	26		26
Courier services	100	100
Telecom	100	49	Above 49
Single brand retail	100	49	Above 49
Multi brand retail	51		51
Asset Reconstruction company	100	49	Above 49
Commodity exchange	49	49
Credit information companies	74	74
Power Exchanges	49	49
Banking Private sector	74	49	Above 49
Public sector	20		20
NBFC	100	100
Pharmaceuticals Greenfield	100	100
Brownfield	100		100
E-Commerce activities	100	100
Cash and carry wholesale trading	100	100
Industrial parks	100	100
Aviation	49	49
Airport Greenfield	100	100
Brownfield	100	74	Above 74
Print media –newspaper magazine etc	26	26
DTH and Cable network	74	49	Above 49
FM Radio	26		26
Mining	100	100
FDI is prohibited in: (a)Lottery Business including Government /private lottery, online lotteries etc. (b)Gambling and Betting including casinos etc. (c)Chit funds (d)Nidhi company (e)Trading in Transferable Development Rights (TDRs) (f)Real Estate Business or Construction of Farm Houses (g)Manufacturing of Cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes (h)Activities / sectors not open to private sector investmente. eg.Atomic Energy and Railway Transport (other than Mass Rapid Transport Systems)

Wimbledon 2013

1) Andy Murray (England) Defeated Novak Djokovic to become first Briton in 77 years to win wimbledon . Fred perry was last britishman to win wimbledon in 1936.

2) Marion Bartoli of France won women’s single category defeating Sabine Lisicki of Germany.

Brazil won FIFA Confederation cup defeating SPAIN .
India to host 2016 T-20 and 2023 World cup in cricket.

Gist of current affairs from November 2013 Megazines.

2013-10-06T07:11:00.002-07:00

Gist of current affairs from November 2013 Megazines.

Australia’s new prime minister Tony Abott (Conservative party) sworn in on 18 sept. 2013, Defeating former PM Kevin Rudd (Labour party), who took over from Ms. Julia Gilard early this year.
Thomas batch (Germany) elected ninth president of International Olympic Committee, who replaced Jacques Rogge (Belgium).
Deepak Sadhu , first women Chief information commissioner in place of Satyanand Mishra.
Nishi vasudev will be first woman chief of any PSU - HPCL from Feb. 2014.
Indira Gandhi prize for peace, disarmament and development 2012 goes to Liberian president Ellen Johnson Sirleaf. Earlier she had also shred Nobel peace prize with Tawakkul kamran of yemen republic.
Malala Yusufzai was given international Children preace prize 2013.
National Sports award includes 1) Rajeev Gandhi Khel ratna award 2) Arjun awards 3) Dronacharya award 4) Dhyanchand award 5) Tenzing norgay national adventure award 6) Rahtriya khel protsahan puruskar 7) Maulana Abdul kalam azad trophy.
Nina Davulury- First Indian origin American to win Miss America award.
Pandit Ragunath panigrahi , famous Classical singer and Music director from Orissa passes away.
Bank of Beijing opened china’s first direct bank. Direct banking is kind of branch less banking , which provides all its products through internet, telephones and ATMs. By eliminating the costs associated with bank branches, direct banks can make significant savings which they may pass on to clients via higher interest rates or lower service charges. One of the world's first fully functional direct banks was First Direct, which launched in the United Kingdom on October 1, 1989. The initial success of internet banking services provided by traditional banks led to the development of internet-only banks or "virtual banks". Many such banks are functioning in US and European countries.
ASEAN defence ministers meet in Brunei on 29th august 2013. India is not a member of ASEAN. Association of South east asian nations. Members Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam then joined on 7 January 1984, Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN. Headquarter Indonesia Jakarta
G-20 summit 2013 held in Russia on 5-6 sept. Next summit in Brisbane in Nov. 2014. There is no headquarter of this summit. Every year chair moves to one of its member countries. It was decided to create a common database on tax related information of multinational companies, so that tax evasion can be controlled.
DTAA Double taxation avoidance agreement signed between India and Latvia.
India japan agreements – 1) Joint research initiatives in the field of Applied science. 2) cooperation in film and animation techniques 3) Currency SWAP agreement increased from 15 billion to 50 billion $ till Dec 2015. ( Signed during G-20 summit). Currency swap is an arrangement between two countries to accept each others currency for trading goods and services. This relieves them of their dependencies on dollar as mediating currency and help stabilize their own currencies.
Food security bill (not the ordinance, which had already been approved by the president and promulgated on 4^th July) now passed by Lok sabha(26 aug) and rajya sabha (2 sept) and finally signed by president on 10 sept. For details refer news diary dated 4^th (July).
Govt. sanctioned 158 EMRS Eklavya model residential schools for tribal students . objective of EMRS is to provide quality middle and high level education to ST students in remote areas.
Ahinsa Messenger program initiative of Ministry of women and child development to create awareness about violence against women and to assist the victimized women in getting justice. Amhinsa messengers will be appointed across country . program will be implemented through all anganwadi Kendra, all panchayati raj institution , sabla girls and poorna shakti kendras. National mission for empowerment of women will train these Ahinsa messengers.
India third largest internet user after china and US.
Land acquisition , rehabilitation and resettlement bill 2011 Passed. HIGHLIGHTS

1) Minimum 70% of the landowners consent for PPP projects and 80 % for Private sector projects will be required for land acquisition.

2) Compensation of around 4 times of market value in rural area and 2 times of the market value in Urban areas will be given to farmers/landowners.

3) Several other benefits like land for employment and residential purpose apart from compensation.

4) Wakf land will not be acquired.

5) In case the land acquired is not utilized for the stated purpose within time frame , it would be returned to owner or state land bank.

Maharashtra has passed Anti black magic and superstition bill after the murder of a social activist Narendra Dabholkar in Pune , who was fighting against superstitions and black magic practices.
India’s first quarter GDP dropped to 4.4% April to June 2013 because of poor performance of manufacturing and mining sector. Last year in the same period it was 5.4% .
First monetary policy review by Shri Raghuram rajan : repo rate increase by .25% to 7.5, MSF and Bank rate down by .75 % to 9.5% CRR-SLR remained unchanged , however daily maintenance limit of CRR was brought down from 99 to 95%
RBI liberalized norms for banks to open new branches, Banks can open branches in tier 1 centre (population above one lacs) without obtaining permission from RBI , if 25% branches are correspondingly opened in tier 5 and 6 centres in a particular year. At the same time tier 1 branches number should not exceed total branches opened in tier 2 to 6 areas.
TARC Tax Administration reform commission constituted on 26 august 2013 under the chairman ship of tax expert Parthsarathi Shome to review tax laws and suggest ways for a stable non adversarial tax administration. Seven member commission with a tenure of 18 months.
Tata group signed pact with Singapore airlines to form a new airline company in India. Tata 51% and SA 49% share.
Microsoft to buy Nokia in 5.44 billion Euro.
RBI introduced forex swap window to oil companies. Decided to meet entire daily dollar demand of oil companies like IOC, BPCL, HPCL to reduce pressure on foreign exchange market . This will substantially support the falling rupee against dollar.
RBI offered a concessional currency swap to banks for their FCNR foreign currency non resident deposits at 3% . Normally swaps available in open market charge around 7 % , which discourage the banks to take foreign currency deposits. This again is an step to boost inward flow of dollar in view of falling rupee. This facility will remain available till 30 november 2013.
Committee to revise and strengthen monetary policy framework by making it transparent and predictable ,under the chairmanship of Dr. Urjit Patel Dy. Governor.
PFRDA BILL 2011 passed. Highlights 1) 26% FDI allowed in pension fund management 2) PFRD Authority provided statutory status and powers. 3) The subscribers can choose fund manager as well as scheme packages to suit their needs. 4) Funds managers can partly invest in shares if pension beneficiary approves the risk plan.
Economic outlook 2013-14 . released by PMEAC Prime minister economic advisory council (Headed by C rangarajan) has lowered the growth forecase to 5.3% from 6.4 projected earlier.
Jubin Mehta , western classical composer , awarded Tagore prize for cultural harmony. Last year it was Late Ravi shankar who got this award.
RBI banned 0% interest financing schemes of banks .

Gist of Current affairs from October 2013 competitive megazines.

2013-10-05T01:54:00.002-07:00

Gist of current affairs from October megazine

RBI Governor is appointed for 3 year term. D subbarao term was extended for 2 more year thereby allowing him to serve for 5 years.
Present RBI Governor is 23^rd incumbent to this office. He was Chief Economic Advisor to Finance ministry before this appointment. He also served IMF as Chief Economist.
Four Deputy Governors are Dr. Urjit Patel, K.C.Chakravorty, H.R.Khan and Anand Sinha. A deputy governor in RBI can be appointed for a maximum of 5 years or till the age of 62, which ever is earlier.
Rajiv Rishi – appointed as Central Bank of India CMD for years.
Arundhati Bhattacharya, First Women MD & CFO of SBI.
Hasan Rohani – New President of Iran
Robert Mugabe elected as president of Zimbabwe for seventh time since 1980 when Zimbabwe got its independence from Britain.
Rajiv Gandhi Khel ratna puraskar for 2013 to Ronjan Sodhi , sports shooting.
Arjun puraskar 2013 to Virat kohli, P.V.Sindhu, Kavita chahal(boxing),Gaganjit Bhullar –Golf Rajkumari rathore –shooting and others.
Saraswati samman 2013 for literature instituted by kk birla foundation
APJ Abdul Kalam autobiography – My journey: transforming dreams into action.
Russia granted asylum to Edward Snowden for one year.
US vice president Joe Biden visited India in July 2013
Registration of births and deaths (amemdment ) bill 2012 passed . makes it compulsory to register all marriages irrespective of religion.
Company bill 2012 replaces 57 year old companies act 1956 . 2 % of profit of companies to be allotted to CSR activities. Clarifies criminal liability of auditors.
NGT National Green tribunal banned illegal sand mining activities across India.
Handwoven Pashmina shawls is spaciality of Kashmir.
INS Sindhurakshak an strategic defence submarine vessel badly damaged in a fire incident.
India launched its first indigenous aircraft carrier INS Vikrant.
RBI announced weekly sale of Government bonds/securites to absorb liquidity from the market to curb volatility in foreign exchange market.\
India signed 100 million dollar agreement with world bank for low income housing project to be managed by National Housing bank.
Import duty on gold and jewellery raised to 15 %.
Tax administration Reform Commission TARC set up to review tax administration and structure in India .
Rajeev Gandhi grammen vidhutikaran yojana (RGGVY) continued in 12^th year plan . launched in april 2005 90% contributed by Central Government and 10% by REC, which is the nodal agency. To be implemented by state government. Aims are – electrifying all villages , electricity to all rural households, free connection to BPL families.
SEBI’s deadline for meeting 25% public shareholding norm in private listed companies by jun 13 and 10 % for public sector undertaking by august 13 is over.
Disinvestment of 10% in Indian Oil Corporation approved by Cabinet Committee on Economic Affairs.
Interest subvention of 3% on crop loans continued by Central Govermnet.
FDI in print media to increase from 26 to 49%
Reliance General Insurance launched crop insurance schemes.
P V Sindhu won bronze medal in world Badminton championship 2013.
14^th World championship in athletics were held in Moscow, Russia from 10-18 August 2013. Russia topped the tally with 7 gold. Jamaica’s Ussain Bolt became most successful athlete with eight gold and two silver in various world championships.
India beats Zimbabwe 5-0 in cricket ODI series on foreign soil.
Indian Badminton league . 14 aug to 31^st august 2013. No. of teams 6 , organizer Badminton association of India. Winner Hyderabad hotshot having Saina Nehwal on its side.
Ministry of housing and urban poverty alleviation proposed to launch National Urban Livelihoods mission in 12^th plan period , which will replace Swarn Jayanti shahari Rojgar yojana.
Bhartiya Mahila Bank – Announced in Budget speech of 2013-14 by FM shri Chidambaram. Initial seed capital 1000 crores, First six branches proposed at Mumbai , Delhi, Kolkata , Chennai , Indore and Guwahati by 15 Oct. 2013 . 25 branches up to March 2014. HeadQuarter – Delhi. Chairman designate is Usha Anantsubramaniam. key objective of the Bank is focus on the banking needs of women and promote economic empowerment.
Jet Etihad deal – 24% stake purchased by Etihad airlines.
V.K.Shunglu committee to probe corruption charges in commonwealth games in India 2010.
Tears you apart campaign is launched by Ministry of health and family welfare against the use of Tobacco , specially smokeless eatable forms of it.
Islamic banking norms approved by RBI . Kerala state was permitted to open Non Banking financial institution on the principles of Islamic finance. ( Interest giving and taking on funds is not allowed in Islam). Cheraman Financial Services Limited (CFSL) will be floated by Kerala State Industrial Development Corporation to function as a non-banking finance company (NBFC).
RBI measures to control Gold imports. 1) Authorised Gold importers like banks and gold trading agencies to ensure that 20% of imported lot should be made available for export in the form of jwellery . jewellery exports last year stood at around 70 tonnes. Authorised importers should sell their gold to only those entities , which are engaged in jewellery or other products. Govt has increased the import duty to 15% on gold and jewellery.
Govt. to provide a internet enabled mobile to every person of rural area who has completed 100 work days in MGNREGA.
Relaxation in Multibrand retail FDI norms. 1) 10 lacs population norms relaxed, stores can be opened in cities having population less than 10 lacs. 2) For local purchase of stocks limit for small industries increased from 5 crore to 10 crore. 3) 50% backend infrastructure compulsion will be only for one time investment up to 100 m $, further investments will be free from this norm. 4) 30% local sourcing norms will continue.
Tourism department new campaign 1) Clean India campaign at Tajmahal AGRA 2) Hunar se Rojgar tak , skill development program.
Telangana with 10 district will be 29^th state of India subject to approval by parliament. Central cabinet cleared it.
Ksheera Bhagya is scheme by Karnatak Govt. to provide school children 150 ml of milk three times a week.
Kumar mangalam Birla resigned from board of directors of RBI to avoid conflict of interest as Birla group has applied for opening a new bank.
Amjad ali Khan famous sarod player chosen for Rajiv Gandhi national sadbhavana award.
Sardar singh named as captain of hockey team India for asia cup 2013.
First cricketer to hit 400 sixes in international cricket – shahid afridi.
Aditya Mehta Indian snooker palyer won gold medal in the world games.