Weekly Capsule Week 4 of December
1 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
Contents
Economy & Banking………………………………………………………..3
Government& Polity……………………………………………………….6
International…………………………………………………………………8
States………………………………………………………………………….9
Sports………………………………………………………………………..11
Appointment…………………………………………………………………12
Person/Event/Award……………………………………………………….13
“That some achieve great success, is a proof to all that others can achieve it as well”- Abraham Lincoln
2 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
Economy & Banking
1. GST cut on 17 items, 6 services
The Goods and Services Tax Council cut rates on 17 items and six types of services during its 31st meeting, leaving only one common use item — cement — in the 28% bracket. Seven items that saw tax rates being slashed from the 28% bracket are certain vehicle parts used in agriculture, monitors and TVs up to 32 inches, retreaded tyres, power banks, digital cameras, videogame consoles (all from 28% to 18%), and parts and accessories for the carriages for disabled persons (from 28% to 5%).
GST-It is a destination-based taxation system. It has been established by the 101st Constitutional Amendment Act. It is calculated only in the “Value addition” at any stage of a goods or services. There is a provision of GST Council to decide upon any matter related to GST whose chairman in the finance minister of India.
2. Start-ups get a platform for listing, courtesy BSE
As part of its attempts to encourage the start-up community to move towards listing, BSE has launched a platform — „BSE Startups‟ in collaboration with two venture capital firms — Cornerstone Ventures Investment Advisers LLP and Venture Catalysts. The platform will also help in listing of firms from hi-tech defence, drones, nano technologies, artificial intelligence and genetic engineering among other sectors.
3. U.S. Q3 growth trimmed, business spending slowing
The U.S. economy slowed slightly more than previously estimated in the third quarter and momentum appears to have moderated further in the fourth quarter. Growth in the October-December quarter could still be strong and keep the economy on track to achieve the Trump administration‟s 3% target this year.
4. RBI shortlists Wipro, TCS, 4 others for PCR
The Reserve Bank of India (RBI) has shortlisted six major IT companies, including TCS, Wipro and IBM India, Capgemini Technology Services India, Dun & Bradstreet Information Services India and Mindtree Ltd, to set up a digital public credit registry (PCR) for capturing details of all borrowers and wilful defaulters. The proposed PCR will also include data from entities such as markets regulator SEBI, the Corporate Affairs Ministry, Goods and Service Tax Network (GSTN) and the Insolvency and Bankruptcy Board of India (IBBI), to enable banks and financial institutions to get a 360-degree profile of existing as well as prospective borrowers on a real-time basis.
3 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
5. Indian firm takes over Chabahar operations
India Ports Global Ltd. had taken over operations at the Shaheed Behesti port at Chabahar. The crucial handover took place during the first meeting of the follow-up committee for implementation of the trilateral Chabahar Agreement of India, Afghanistan and Iran.
Chabahar Port is a seaport in Chabahar located in southeastern Iran, on the Gulf of Oman. It serves as Iran's only oceanic port.
6. Radiant Life, Max Healthcare to merge
Radiant Life Care will acquire a majority stake in Max Healthcare through a merger to create an entity with valuation of Rs.7,242 crore.Max India will demerge its non-healthcare businesses (comprising Max Bupa and Antara Senior Living) into a new listed entity. The combination of Radiant and Max Healthcare will create the largest hospital network in North India.
7. Foreign fund outflows highest since 2008
For the Indian equity markets, year 2018 will end as the worst in terms of foreign money outflows since 2008. In the Indian context, 2018 would also be only the third such year in the last decade when foreign portfolio investors (FPIs) would end a calendar year as net sellers of Indian shares. Foreign investors have been net sellers at almost $4.8 billion or Rs.33,344 crore during the current calendar year, till date. Further, the year also saw overseas investors selling shares worth almost $4 billion or Rs.28,921 crore in just one month — October — making it the worst-ever month in terms of FPI outflows.
8. NCLT helps recover over Rs.80,000 cr. in 2018
Tasked with helping recover unpaid corporate loans, the National Company Law Tribunal (NCLT) has helped resolve insolvency and bankruptcy proceedings involving more than Rs.80,000 crore in 2018. Plans are afoot to further strengthen the NCLT by increasing the number of judges and benches, and providng adequate infrastructure to fast-track the process, according to government officials.
9. Bimal Jalan to head six-member panel on RBI‟s economic capital framework
The Reserve Bank of India (RBI), in consultation with the government, has set up a six-member committee to review the economic capital framework of the central bank. Former RBI Governor Bimal Jalan will be the committee‟s chairman and former Deputy Governor Rakesh Mohan deputy chairman. The terms of reference of the committee would be to review status, need and justification of various provisions, reserves and buffers presently provided for by the RBI, keeping in mind „public policy
4 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
mandate of the RBI, including financial stability considerations. The committee will also review best practices followed by the central banks globally in making assessment and provisions for risks.
10. Centre will infuse RS.28,615 crore in 7 PSBs
The government is likely to infuse Rs.28,615 crore into seven public sector banks through recapitalisation bonds. These banks include Bank of India,OBC,BoM,United Bank of India,UCO Bank. Recapitalisation would enhance the lending capacity of PSBs and help them exit the RBI‟s Prompt Corrective Action framework.
11. ICRA downgrades NIC rating
ICRA has downgraded the long-term rating for National Insurance Company Limited‟s (NIC) subordinated debt programme to AA from AA+ due to weak underwriting performance. The rating takes into account NIC‟s continued weak underwriting performance driven by a high combined ratio, resulting in pressure on profitability, and the high portfolio concentration in the motor and health segments, leading to a weak solvency ratio below the regulatory minimum.
National Insurance Company Limited- Kolkata based CMD Ms Tajinder Mukherjee
12. “State-run bank NPAs decline by Rs.23,860 cr.”
Various initiatives taken by the government have yielded results, with the bad loans of public sector banks declining by over Rs.23,000 crore from a peak of Rs.9.62 lakh crore in March 2018. Gross non-performing assets (NPAs) of PSBs have started declining after peaking in March 2018, registering a decline of Rs.23,860 crore in the first half of the current financial year.
13. Centre launches global search for AI top slots
The Centre plans to hire professionals for top positions in Air India through a global search process, as part of efforts to revive the national carrier. Against this backdrop, the Centre is considering the proposal to professionalise AI management. The carrier is estimated to have a debt of over Rs.55,000 crore and about Rs.29,000 crore is to be transferred into an special purpose vehicle
5 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
Government & Polity
1. Gurugram centre to monitor IOR
Consolidating the regional efforts with friendly nations to keep the global commons “open and accessible for all,” India inaugurated an Information Fusion Centre - Indian Ocean Region (IFC-IOR) which will work closely with countries in the region and will be manned by the Indian Navy. The IFC has been established at the Navy‟s Information Management and Analysis Centre (IMAC) at Gurugram. It is the single point centre interlinking all the coastal radar chains to generate a seamless real-time picture of the nearly 7,500-km long coastline.
2. PM announces new award for national unity
Prime Minister Narendra Modi has announced the institution of a national unity award on the lines of the Padma awards. The annual award would be given to any Indian who has contributed to national unity in any manner. Prime Minister drew inspiration from Sardar Patel‟s contribution towards the unification of the country.
3. Draft „The Information Technology [Intermediaries Guidelines (Amendment) Rules] 2018‟ released
As per the draft „The Information Technology [Intermediaries Guidelines (Amendment) Rules] 2018‟, the intermediary after being notified by the appropriate authority would have to remove or disable access to unlawful content within 24 hours in the “interests of the sovereignty and integrity of India, the security of the state, friendly relations with foreign states, public order, decency or morality, or in relation to contempt of court, defamation or incitement to an offence, on its computer resource without vitiating the evidence in any manner…”. The proposed amendments to the Information Technology (IT) Act seek to make it mandatory for platforms such as WhatsApp, Facebook and Twitter to trace “originator” of “unlawful” information, while also removing such content within 24 hours after being notified.
4. Another olive ridley nesting site soon
Odisha Forest department has started preparing the beach at the Bahuda river mouth in Ganjam district to lure the endangered turtles to come over for mass nesting next year. The Bahuda rookery is located around 20 km to the south of Rushikulya rookery coast, a major mass nesting site of olive ridleys on the Indian coastline.
5. Virudhunagar was the best in development
Tamil Nadu‟s Virudhunagar showed the most improvement, during June-October, among the country‟s 111 most underdeveloped districts, while Jharkhand‟s Pakur reflected the least improvement, according to a survey by the Niti Aayog.
6 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
NITI Ayog released the second „”Delta” ranking of these districts that measures the incremental progress made by them across areas. The Aspirational Districts Programme was initiated by NITI Aayog in January 2018.
6. India to go ahead with manned space mission “Gaganyaan” by 2022
Union cabinet approved Gaganyaan, India‟s first manned flight to space which is slated to take off by 2022.This would be one of the cheapest manned spaceflights in the world, with the entire mission, including technology development, flight hardware realization and infrastructure, estimated to cost no more than Rs.10,000 crore. The mission would make India the fourth country after Russia, the US, and China to launch a manned spaceflight.
7. First 50 world-class stations by 2022
50 world-class railway stations (with concourses modelled on airport-like swanky retail spaces for commuters to wait ) will be completed by the Indian Railway Station Development Corporation (IRSDC) by 2022.Phase I of the Habibganj railway station in Madhya Pradesh, being redeveloped on the lines of Germany‟s Heidelberg station in the public-private partnership (PPP) mode, will be the first to be commissioned in February next.
8. PM Modi Inaugurated International Rice Research Centre In Varanasi
Prime Minister Narendra Modi inaugurated the International Rice Research Institute's South Asia Regional Centre (ISARC) campus in Varanasi. The centre will serve as a hub for rice research and training in South Asia.The International Rice Research Institute is an international agricultural research and training organization with headquarters in Los Baños, Laguna in the Philippines.
7 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
International
1. Cuban MPs approve new Constitution
Cuban lawmakers unanimously approved a revised draft of a new Constitution that retains the island‟s one-party socialist system but reflects its socio-economic opening since the fall of the Soviet Union. The draft Constitution will maintain the Communist Party as the country's guiding force. . Cuba- Capital Havana Currency Peso President Miguel Diaz-Canel
2. Newly elected Bhutan PM visited India
India will host the newly elected Prime Minister of Bhutan Dr. Lotay Tshering from December 27-29. It will mark the golden jubilee of the diplomatic relations between Delhi and Thimphu. He reiterated that his country will continue to have special ties with India and avoid establishing diplomatic ties with any of the permanent members of the UN Security Council.
Bhutan- Capital Thimphu Currency The ngultrum
Prime Minister Dr. Lotay Tshering
3. Russia successfully tests hypersonic missile
Russian President Vladimir Putin on Wednesday hailed final tests of a hypersonic missile.The intercontinental “Avangard” system would be ready for use from 2019. The hypersonic missile could fly at 20 times the speed of sound and manoeuvre up and down.
4. Rs.4,500-cr. assistance for Bhutan
India will support Bhutan‟s development needs by providing Rs.4,500 crore, Prime Minister Narendra Modi announced. It remains one of the key recipients of development assistance from India. According to the Ministry of External Affairs, India provided Rs.4,500 crore for the 11th five year plan that lasted between 2013 and 2018.
8 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
States
1. Kashmir power project meets first deadline
Chenab Valley Power Projects Limited has completed the construction of Main Access Tunnel of the 1000 MW Pakal Dul Hydroelectric Project. Pakal Dul is the biggest hydroelectric project under construction in J&K. The project is part of the Prime Minister‟s Development Package for Jammu and Kashmir and is scheduled to be completed in the next five years.
2. PM to open Buddhist site museum at Lalitgiri in Odisha
One of the earliest Buddhist settlements in Odisha, Lalitgiri, where excavations have yielded ancient seals and inscriptions, has been converted into a museum. Prime Minister Narendra Modi inaugurated the museum. It is located in Cuttack district and will be the third site museum of the Bhubaneswar circle of the Archaeological Survey of India.
3. Bogibeel: India‟s longest rail-road bridge
India‟s longest rail-road bridge that took Rs.5,920 crore to build and was conceptualized 22 years ago , was inauagarated by PM. The 4.94 km Bogibeel is the fourth bridge across river Brahmaputra. The double-decker bridge has two railway lines on the lower deck and a three-lane road on the upper, strong enough to withstand movement of even heavy military tanks.
4. Andhra Pradesh, Telangana to have separate High Courts
After a Supreme Court order to the Centre to notify the bifurcation of the Andhra Pradesh and Telangana High Courts by January 1, President Ram Nath Kovind ordered the separation of the “common” Hyderabad High Court into the separate High Courts of Andhra Pradesh and Telangana. Both will function separately from January 1, 2019.The principal seat of the Andhra Pradesh High Court is Amaravati, the capital of the State. The High Court in Hyderabad will function separately as the High Court of the State of Telangana.
Article 214 of the Constitution provides for a High Court for each State.
5. Maharashtra launched Bharat Ratna Atal Bihar Vajpayee International Schools for rural students
On the 94th birth anniversary celebrations of the late Prime Minister Atal Bihari Vajpayee, Maharashtra Chief Minister Devendra Fadnavis launched the “Bharat Ratna Atal Bihar Vajpayee International Schools” for students in rural areas. With this, students in the rural areas will get education of international standards.
9 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
6. Havelock Island and two others in Andaman and Nicobar to be renamed
Three islands in Andaman and Nicobar - Ross Island, Neil Island and Havelock Island- will be renamed as Netaji Subhash Chandra Bose Island, Shaheed Dweep and Swaraj Dweep, respectively, by the central government. The renaming of the islands will reportedly take place to mark the 75th year of freedom fighter Subhash Chandra Bose hoisting the national flag at Port Blair.
7. Madhya Pradesh to get “spiritual department”
Madhya Pradesh government announced that it is going to create an „Adhyatmik Vibhag‟ (spiritual department) by merging several existing departments. The „Anand Vibhag‟ (Department of Happiness) set up by the previous BJP government, a first in the country, would be incorporated into the new department. The proposed Adhyatmik Vibhag (Spiritual Department) going to be formed by merging Dharmik Nyas Evam Dharmasv Department (Religious Trust and Endowment Department), Anand Vibhag (Happiness Department) in addition to the Directorate of Religious Trust and Endowment, Madhya Pradesh Teerth Evam Mela Pradhikaran and Rajya Anand Sansthan.
Madhya Pradesh- CM Kamal Nath Governor Anandi Ben Patel
8. Permanent NDRF battalion for Arunachal
Arunachal Pradesh was given a permanent battalion of the National Disaster Response Force.Chief Minister Pema Khandu laid the foundation stone for the 12th battalion headquarters at Hollongi near Itanagar. Permanent stationing of the NDRF battalion in Arunachal Pradesh will not only help the State, but also be available for service to neighbouring Assam.
Arunachal Pradesh- Capital Itanagar Governor- B D Mishra
10 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
Sports
1. End of year FIFA Rankings: Belgium topped
Belgium ends 2018 atop FIFA‟s rankings with World Cup winners France at No.2.Brazil is No.3 and World Cup runner-ups Croatia are No.4 in a mostly unchanged monthly ranking. England and Portugal, who both qualified last month for the UEFA Nations League Final Four tournament, are No.5 and 6 respectively.
2. Celebrating N. Srinivasan‟s 50 years
A coffee table book chronicling the history of India Cements and N. Srinivasan‟s five-decade journey at the company was launched in Chennai. Titled Defying the Paradigm N. Srinivasan: Fifty years of an extraordinary journey, the book, which also highlights the company and Mr. Srinivasan‟s involvement with sports, was released by the Tamil Nadu Chief Minister Edappadi K. Palaniswami and the first copy was received by Mahendra Singh Dhoni.
3. Indian Oil triumphs
Indian Oil rallied from two goals down to beat Bharat Petroleum, via penalty shootout, in the final of the Beighton Cup hockey tournament.
The Beighton Cup, held in Kolkata from 1895, and the Aga Khan Cup, held in Mumbai since 1896, are the fore-runners of all hockey tournaments in India.
11 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
Appointments
1. Rudy named BJP national spokesperson
Former Union Minister Rajiv Pratap Rudy was appointed a BJP national spokesperson. He is a Lok Sabha MP from Bihar and has held organisational responsibilities in the past as well and has served as a general secretary.
2. Pranab K. Das new CBIC Chairman
Senior bureaucrat Pranab Kumar Das has been appointed as Chairman of the Central Board of Indirect Taxes and Customs (CBIC), the apex policy-making body for indirect taxes. He will succeed S. Ramesh, who superannuates on December 31.
3. Donald Trump to replace Mattis with Shanahan
U.S. President Donald Trump announced he would replace Defense Secretary Jim Mattis with his deputy Patrick Shanahan. Mr. Shanahan spent over three decades working for Boeing, before moving to the Pentagon as deputy in 2017.
4. Chacko Thomas is Tata Coffee MD and CEO
Tata Coffee executive director and deputy CEO Chacko Purackal Thomas has been promoted as the managing director and chief executive officer. He will assume the charge from April 1. He will take over from Sanjiv Sarin, whose term ends on March 31.
5. P.V. Bharathi appointed MD and CEO of Corporation Bank
P V Bharathi has been appointed as managing director and chief executive officer of the Corporation Bank. Bharathi is at present Executive Director, Canara Bank. She will take over the charge on or after February 1, 2019 and remain in the post till March 31, 2020. Also Birupaksha Mishra and Balakrishna Alse S has been appointed as executive director in the Corporation Bank and the Oriental Bank of Commerce, respectively.
6. CIC gets four Information Commissioners
The government has appointed four new Information Commissioners in the Central Information Commission. The commission was functioning with just three of Commissioners as against a sanctioned strength of 11, including the Chief Information Commissioner. President has approved the appointment of former IFS officer Yashwardhan Kumar Sinha, former IRS officer Vanaja N. Sarna, former IAS officer Neeraj Kumar Gupta and former Law Secretary Suresh Chandra as Information Commissioners in the CIC.
12 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
Person/Event/Award
1. Mamata Banerjee is the Skoch Chief Minister of the Year
West Bengal Chief Minister Mamata Banerjee has been conferred the Skoch Chief Minister of the Year Award for her contribution in the overall development of the state and emerging as the best chief minister in the country. The state's Kanyashree scheme for the girl child has earned Banerjee much acclaim and the highest public service honour from the United Nations.
2. Former Union Minister Captain Nishad dies
Former Union Minister Captain Jai Narain Prasad Nishad, 88, died following prolonged illness.Jai Narain Prasad Nishad was an Indian politician and member of parliament from Muzaffarpur Lok Sabha Constituency in the Indian State of Bihar. He was a Union Minister for State in 1996-1998 and has been a member of Lok Sabha five times and a former member of Rajya Sabha.
3. Veteran CPI(M) leader Nirupam Sen dies at 72
Veteran Communist Party of India (Marxist) leader and former Industries Minister of West Bengal Nirupam Sen passed away. Mr. Sen was the driving force behind the attempts to industrialise the State during the last 10 years of the Left Front government led by Buddhadeb Bhattacharjee.
4. Bengali poet Nirendranath passes away
Famous Bengali poet Nirendranath Chakraborty died following a massive cardiac arrest. He was a Sahitya Akademi award winner. He won the Sahitya Akademi award in 1974 for his poem „Ulanga Raja‟ (naked king). „Amalkanti Roddur Hote Cheyechhilo‟ (Ammalkanto wanted to be the sunshine), „Kolkatar Jishu‟ (Christ of Kolkata) and „Pahari Bichhe‟ (Mountain scorpion) are among his other noted poems.
5. Sitarist Manju Mehta gets “Tansen Samman” 2018
Famous sitar player Manju Mehta has been conferred with the 'Tansen Samman' for 2018 by the Madhya Pradesh government for her outstanding contribution in the field of music. The award is given to institutions for nurturing good music. The Tansen Music Festival is organised annually in Gwalior by the MP culture department in the memory of Tansen, the greatest musician in Indian history.
6. PM Narendra Modi To Inaugurate 106TH Indian Science Congress On 3 January
Prime Minister Narendra Modi will inaugurate the 106th Indian Science Congress on 3 January 2019 at Lovely Professional University.
13 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
The theme of the four-day event is “Future India: Science and Technology”.The Indian Science Congress Association (ISCA) has been organising the event annually to bring together science fraternity from across the world to discuss innovations and researches.
7. Rafi Award conferred to late music composer Laxmikant and singer Usha Timothy
The Mohammed Rafi Award has been bestowed upon late music composer Laxmikant Shantaram Kudalkar and playback singer Usha Timothy. Kudalkar formed a successful and long partnership with Pyarelal Ramprasad Sharma. Timothy has sung 1,000 songs in multiple Indian languages such as Hindi, Malayalam, Punjabi, Bhojpuri and Marathi, among others.
8. Postage stamp on Bengal‟s Rosogolla
A postage stamp and special cover were released to mark 150 years of the invention of „Bengal‟s Rossogolla‟ by Nabin Chandra Das. After years of contesting claims, the Geographical Identification tag for “Bengal Rosogolla” was given to West Bengal in November 2017.
9. Veteran filmmaker Mrinal Sen died
Mrinal Sen, one of the towering figures of Indian cinema, passed away. He was a noted Bengali filmmaker based in Kolkata. Along with his contemporaries Satyajit Ray and Ritwik Ghatak, he was often considered to be one of the greatest ambassadors of Bengali parallel cinema on the global stage.
“I walk slowly but I never walk backwards.” –Abraham Lincoln
14 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]
Weekly Capsule Week 4 of December
15 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected]