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Home , Anish John, Bhajju Shyam, Ibrahim Sutar, Pran Kishore Kaul, Vijay Ganguly, Vijay Kichlu

Topic-wise Solved Papers for IBPS/ SBI Bank PO/ Clerk Prelim & Main Banking / Economy/ General Awareness EBD_9075

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For further information about the books from DISHA, Log on to www.dishapublication.com or email to [email protected] CONTENTS

Current Affairs 2018 2018-1-16

Past Year Question from 2017 2017-1-16

1. Banking System in & World 1-4

2. Banking Structure & Instrument 5-10

3. Banking Functions 11-18

4. Banking Products 19-22

5. Money & Finance in Banking 23-30

6. Marketing & Computer in Banking 31-84

7. General Knowledge 85-95

8. Current Affairs 96-107 EBD_9075 Current Affairs 2018

UNION BUDGET 2018-19 S. No. Years/Segments 2016-2017 2017-2018 Budget 2017-2018 2018-2019 Actuals Estimates Revised Estimates Budget Estimates 1 Revenue Receipts 1374203 1515771 1505428 1725738

2 Tax Revenue (Net to Centre) 1101372 1227014 1269454 1480649

3 Non-Tax Revenue 272831 288757 235974 245089

4 Capital Receipts1 600991 630964 712322 716475

5 Recovery of Loans 17630 11933 17473 12199

6 Other Receipts 47743 72500 100000 80000

7 Borrowings and Other Liabilities 535618 546531 594849 624276

8 Total Receipts (1+4) 1975194 2146735 2217750 2442213

9 Total Expenditure (10+13) 1975194 2146735 2217750 2442213

10 On Revenue Account of which 1690584 1836934 1944305 2141772

11 Interest Payments 480714 523078 530843 575795

12 Grants in Aid for creation of capital 165733 195350 189245 195345 assets 13 On Capital Account 284610 309801 273445 300441

14 Revenue Deficit (10-1) 316381 321163 438877 416034 (2.1) (1.9) (2.6) (2.2) 15 Effective Revenue Deficit (14-12) 150648 125813 249632 220689 (1.0) (0.7) (1.5) (1.2) 16 Fiscal Deficit 535618 546531 594849 624276 [9-(1+5+6)] (3.5) (3.2) (3.5) (3.3) 17 Primary Deficit (16-11) 54904 23453 64006 48481 (0.4) (0.1) (0.4) (0.3) 1 Excluding receipts under Market Stabilisation Scheme 2 Includes drawdown of Cash Balance Notes: (i) GDP for BE 2018-2019 has been projected at ` 18722302 crore assuming 11.5% growth over the estimated GDP of ` 16784679 crore for 2017-18 (RE). (ii) Individual items in this document may not sum up to the totals due to rounding off. (iii) Figures in parenthesis are as a percentage of GDP. EBD_9075 2018-2 Current Affairs 2018 Rupee Comes From (Budget 2018-2019) Borrowings & (Budget 2017-18) Other Liabilities 19 p. Non-Debt Capital 19 p. 3 p. Receipts 3 p. 10 p. 19 p. Non-Tax Revenue 10 p. 8 p.

Corporation- 14 p. 16 p. Tax 19 p. 9 p.

Goods and Service Tax & Other Taxes 23 p.

Income-Tax 16 p.

Union Excise Customs Duties 4 p. 8 p. Notes: 1. Total receipts are inclusive of States’ share of taxes and duties which have been netted in the table on page 1. 2. Represents Service tax and other taxes in BE 2017-18. BUDGET PROFILE (In` lakh crore) General Small Savings and Services 1.02 State Provident Fund 0.92 Economic Services Food Central Subsidy Non Debt Capital Receipts 0.92 2.27 1.69 Sector 2.95 Market Schemes Petroleum Loans 7.09 Debt Social 0.25 4.07 Others Receipts Services 0.45 Fertiliser 0.31 6.24 Scheme 0.70 Capital Expenditure Others 0.40 Others 1.25 Receipts (CS+CSS) Centrally Core 7.16 10.15 Sponsored Schemes Schemes 2.28 3.06 Core of the core Schemes 0.78 Taxes Budget Size Transfer Customs GST on UTs Net Tax to State Finance 1.12 24.42 Transfers, 7.44 0.05 Receipts Pension 2.41 Commission Establishment 14.81 1.68 Transfers and Other Establishment 1.09 Expenditure Expenditure Union Salary & Non-Tax 14.27 5.08 Excise Allowances Gross Tax Interest Revenue Other Grants/ Duties Receipts 2.07 Revenue 2.45 Other Loans 1.32 2.67 0.15 Central Others 22.71 Others 0.28 Expenditure 1.33 Dividend & Income Others 6.78 Taxes ProLit 1.07 1.23 Public Sector 5.29 Undertakings 0.04 Regulatory/Statutory Corporation Bodies 0.07 Autonomous Interest Tax 5.21 Bodies 0.61 Payment 5.78

Transfer to State Share NDR Fund of Taxes 0.03 7.88 Current Affairs 2018 2018-3 Rupee Goes To (Budget 2018-2019) Centrally Sponsored Scheme (Budget 2017-18) Other 9 p. Expenditure 10 p. 8 p. 8 p. Central Sector Scheme 11 p. 5 p. 10 p. Pensions 18 p. 5 p. 24 p.

9 p. 5 p. 10 p.

Interest Payments States’ Share of 18 p. taxes & duties 24 p.

Defence 9 p. Finance Commission & Other Transfers Subsidies 8 p. 9 p. Note: Total expenditure is inclusive of the states’ share of taxes and duties which have been netted against receipts in the table.

Union Budget 2018 1. Commodities that are now cheaper IMPORTED ITEMS ƒƒ Raw cashew nuts ƒƒ Solar tempered glass or solar tempered glass used for manufacture solar panels/modules ƒƒ Raw materials, parts or accessories used in making cochlear implants ƒƒ Select capital goods and electronics such as ball screws and linear motion guides. 2. Commodities that will cost you more IMPORTED ITEMS • Cars and motorcycles • Miscellaneous • Truck and Bus radial • Mobile phones food except Soya tyres • Silver • Perfumes/Deodorants • Silk Fabrics • Gold • Sunscreen • Footwear • Vegetable, fruit juices • Dental hygiene • Jewellery • Sunglasses • Shaving preparations • Smart watches • LCD/LED TV panels • Video game consoles • Edible/vegetable oils • Furniture • Outdoor games, such as olive oils, • Mattresses including pools groundnut oil • Lamps • Cigarette and other • Watches and clocks lighters, candles • All toys • Kites

Note: No change in Income Tax Slabs except in Cess EBD_9075 2018-4 Current Affairs 2018 powers to collect them is significantly lower than their Economic Survey 2018 counterparts in other federal countries. Union finance Minister Arun Jaitley tabled the Economic Survey 10. The survey captures the footprints of climate change on 2017-18 in Parliament during 2018 budget session. The survey the Indian territory and consequent adverse impact on was authored by chief economic adviser Arvind Subramanian. The agricultural yields. survey projects economy to grow in the range of 7% to 7.50% in the next fiscal year 2018-19 in the post-demonetization year. Survey Padma Awards 2017-18 was in pink colour to highlight gender issues. Key Highlights of Survey Growth Forecast: Padma Vibhushan 1. Goods and Services Tax (GST) has given a new perceptive NO. NAME FIELD STATE of the Indian economy and new data has emerged. There has been a fifty percent increase in the number of indirect 1 Illaiyaraja Art-Music Tamil Nadu taxpayers. There has also been a large increase in voluntary registrations. 2 Ghulam Mustafa Art-Music Maharashtra 2. India‘s formal sector, especially formal non-farm payroll, Khan is substantially greater than what it currently is believed 3 Parameswaran Literature and Kerala to be. It became evident that when formality was defined Parameswaran Education in terms of social security provisions like EPFO/ESIC the formal sector payroll was found to be about 31 percent Padma Bhushan of the non-agricultural work force. When formality was defined in terms of being part of the GST net, such formal NO. NAME FIELD STATE sector payroll share was found to be 53 percent. 1 Pankaj Advani Sports- Billiards/ 3. For the first time in India‘s history, data on the international Snooker exports of states has been dwelt in the Economic Survey. 2 Philipose Mar Others- Kerala Chrysostom Spiritualism Such data indicates a strong correlation between export performance and states’ standard of living. 3 Mahendra Singh Sports-Cricket Jharkhand Dhoni 4. India‘s exports are unusual in that the largest firms 4 Alexander Public Affairs Russia account for a much smaller share of exports than in other Kadakin comparable countries. Top one percent of Indian firms (Foreigner) account only for 38% of exports unlike in other countries 5 Ramachandran Others- Tamil Nadu where they account for substantially greater share – (72, Archaeology Nagaswamy 68, 67 and 55 percent in Brazil, Germany, Mexico and USA 6 Ved Prakash Literature and US respectively). Such tendencies were also found to be true Nanda (OCI) Education for the top five or ten per cent of the Indian companies. 7 Art-Painting Goa 5. It was pointed out that the Rebate of State Levies (ROSL) 8 Arvind Parikh Art-Music Maharashtra has increased exports of readymade garments (man-made fibers) by about 16 per cent but not of others. 9 Art-Music Bihar 6. The data highlighted another seemingly known fact that Padma Shri Indian society exhibits a strong desire for a male child. It pointed out that most parents continued to have children NO. NAME FIELD STATE until they get number of sons. 1 Abhay Bang (Duo) Medicine Maharashtra 7. The survey pointed out that tax departments in India have gone in for contesting against in several tax disputes but 2 Rani Bang (Duo) Medicine Maharashtra also with a low success rate which is below 30 per cent. About 66 per cent of pending cases accounted for only 1.8 3 Damodar Ganesh Social Work Chhattisgarh Bapat per cent of value at stake. 8. Extrapolating the data the survey indicated that growth in 4 Prafulla Govinda Literature and Assam savings did not bring economic growth but the growth in Baruah Education- investment did. Journalism 9. The survey mentions that collection of direct taxes by 5 Mohan Swaroop Art-Folk Music Uttar Indian states and other local governments, where they have Bhatia Pradesh Current Affairs 2018 2018-5

6 Sudhanshu Biswas Social Work West Bengal 29 Joyshree Goswami Literature and Assam Mahanta Education 7 Saikhom Mirabai Sports- Manipur Chanu Weightlifting 30 Narayan Das Others- Rajasthan Maharaj Spiritualism 8 Pandit Shyamlal Literature and Chhattisgarh Chaturvedi Education- 31 Pravakara Maharana Art-Sculpture Odisha Journalism 32 Hun Many Public Affairs Cambodia 9 Jose Ma Joey Trade & Philippines (Foreigner) Concepcion III Industry (Foreigner) 33 Nouf Marwaai Others- Yoga Saudi Arabia (Foreigner) 10 Langpoklakpam Art-Weaving Manipur 34 Zaverilal Mehta Literature and Gujarat Subadani Devi Education- 11 Somdev Devvarman Sports-Tennis Tripura Journalism 35 Krishna Bihari Literature and West Bengal 12 Yeshi Dhoden Medicine Himachal Mishra Education Pradesh 36 Sisir Purushottam Art-Cinema Maharashtra 13 Literature and Assam Misra Education 37 Subhasini Mistry Social Work West Bengal 14 Doddarange Gowda Art-Lyrics Karnataka 38 Somdet Phra Others- Thailand 15 Literature and Maharashtra Maha Muniwong Spiritualism Education (Foreigner) 16 Literature and Jharkhand 39 Keshav Rao Literature and MP Education Musalgaonkar Education 17 Ramli Bin Ibrahim Art-Dance Malaysia 40 Dr Thant Myint – Public Affairs Myanmar (Foreigner) U(Foreigner) 18 Literature and Uttar 41 V Nanammal Others-Yoga Tamil Nadu (Posthumous) Education Pradesh 42 Sulagitti Social Work Karnataka 19 Piyong Temjen Literature and Nagaland Narasamma Jamir Education 43 Vijayalakshmi Art-Folk Music Tamil Nadu 20 Sitavva Joddati Social Work Karnataka Navaneethakrishnan 21 Malti Joshi Literature and MP 44 I Nyoman Nuarta Art- Sculpture Indonesia Education (Foreigner) 22 Art-Acting Maharashtra 45 Malai Haji Abdullah Social Work Brunei Bin Malai Haji 23 Rameshwarlal Trade & Maharashtra Othman(Foreigner) Kabra Industry 46 Gobaradhan Panika Art-Weaving Odisha 24 Art J&K 47 Bhabani Charan Public Affairs Odisha 25 Bounlap Keokangna Others- Laos Pattanaik (Foreigner) Architecture 48 Murlikant Petkar Sports- Maharashtra 26 Art-Music West Bengal Swimming

27 Tommy Public Affairs Singapore 49 Habibullo Literature and Tajikistan Koh(Foreigner) Rajabov(Foreigner) Education 28 Lakshmikutty Medicine- Kerala 50 M R Rajagopal Medicine- Kerala Traditional Palliative care EBD_9075 2018-6 Current Affairs 2018

51 A Zakia Literature and Mizoram 65th National Film Awards 2018 Education • named best actress for Mom. 52 Sampat Ramteke Social Work Maharashtra • Rajkummar Rao’s Newton wins Best Hindi Language (Posthumous) Feature Film award. • Baahubali 2 bags three trophies at National Film Awards 53 Chandra Sekhar Odisha 2018. Rath Rajkummar Rao’s Newton is India’s official entry to Oscars 54 S S Rathore Civil Service Gujarat 65th National Film Awards were held at PIB Conference Room at Shastri Bhawan in New Delhi. The jury of the awards was 55 Amitava Roy Science and West Bengal headed by veteran director . The jury panel has 10 Engineering members which includes screenwriter Imtiaz Hussain, lyricist 56 Sanduk Ruit Medicine- Nepal Mehboob, South Indian actress Gautami Tadimalla, Kannada (Foreigner) Ophthalmology director P Sheshadri, Aniruddha Roy Chowdhury, Ranjit Das, Rajesh Mapuskar, Tripurari Sharma and Rumi Jaffrey. 57 R Sathyanarayana Art-Music Karnataka The award ceremony for National Film Awards 2018 will be held on May 3, 2018, and all the awards will be presented by 58 Pankaj M Shah Medicine- Gujarat President Ram Nath Kovind. Ophthalmology The 65th National Film Awards winners are: 59 Art-Painting MP Best Film: Assamese film Village Rockstars Best Direction: Jayaraj, Bhayanakam 60 Maharao Raghuveer Literature and Rajasthan Best Actor (Male): Riddhi Sen, Nagarkirtan Singh Education Best Actor (Female): Sridevi, MOM 61 Kidambi Srikanth Sports- Andhra Best Supporting Actor (Male): Fahad Fazil, Thondimuthalum Badminton Pradesh Driksakshiyum Best Supporting Actor (Female): Divya Dutta, Irada 62 Art-Music Karnataka Dadasaheb Phalke Award: Vinod Khanna 63 Siddeshwara Others- Karnataka Best Original Screenplay: Sajeev Pazhoor, Thondimuthalum Swamiji Spiritualism Driksakshiyum. Best Adapted Screenplay: Jayaraj, Bhayanakam 64 Lentina Ao Thakkar Social Work Nagaland Best Hindi Film: Newton 65 Vikram Chandra Science and Uttarakhand Best Malayalam film: Thakur Engineering Thondimuthalum Driksakshiyum Best Marathi film: Kaccha Limbu 66 Rudrapatnam Art-Music Karnataka Best Kannada film: Hebbettu Ramakka Narayanaswamy Best Oriya film: Hello Aarsi Tharanathan (Duo) Best Jasari film: Sinjar 67 Rudrapatnam Art-Music Karnataka Best Ladkhi film: Walking With The Wind Narayanaswamy Best Tulu film: Paddayi Thyagarajan (Duo) Best Bengali Film: Mayurakshi Best Telugu film: Ghazi 68 Nguyen Tien Thien Others- Vietnam (Foreigner) Spiritualism Best Assamese Film: Ishu Best Tamil film: To Let 69 Bhagirath Prasad Literature and UP Best Gujarati Film: DHH Tripathi Education Dutt Award for Best Film on National Integration: 70 Rajagopalan Science and Bihar Dhappa Vasudevan Engineering Best Popular Film providing wholesome entertainment: Baahubali: The Conclusion 71 Panatawane Literature and Maharashtra Gangadhar Education Best Non-Feature Film: Water Baby Vithobaji Best Educational Film: The Girls We Were and The Women We Are 72 Romulus Whitaker Others-Wildlife Tamil Nadu Best Animation Film: The Fish Curry and Tokri: The Basket Conservation Best Film on Art and Culture: Girija: A life of music 73 Baba Yogendra Art Madhya Best Film on Social Issues: I am Bonnie and Veil Done Pradesh Best Short Film (Fiction): Mayyat Current Affairs 2018 2018-7 Best Music Direction: A R Rahman, Kaatru Veliyidai Best Screenplay Shubhashish Bhutiani for Best Background Score: A R Rahman, MOM 'Mukti Bhavan' Best Male Playback Singer: K J Yesudas, “Poy Maranja Best Original Story Amit Masurkar for 'Newton' Kalam” in Viswasapoorvam Mansoor Best Female Playback Singer: Shashaa Tirupati, “Vaan” in Best Actor (Male) in a Jackie Shroff for 'Khujli' Kaatru Veliyidai Short Film Best Lyrics: Prahlad, Muthu Ratnada Pyate Best Actor (Female) in a Shefali Shah for 'Juice' Best Audiography: Avinash Sonawane, Pavasacha Nibandha Short Film Best Cinematography: Nikhil S Praveen, Bhayanakam People's Choice Award for 'Anahut' Special Jury Award: A Very Old Man With Enormous Wings. Best Short Film Special Mention Awards: Marathi film Morkiya, Oriya film Best Short Film (Fiction) 'Juice' Hella Aarsi and Malayalam film Best Action Direction: S. S. Rajamouli’s Baahubali: The Best Short Film (Non 'Invisible Wings' Conclusion Fiction) Best Choreography: , Toilet Ek Prem Katha’s Best Music Album Pritam for '' song “Gori Tu Latth Maar”. Best Special Effects: Baahubali: The Conclusion Best Playback Singer Arijit Singh for 'Roke na ruke Best Makeup artist: Ram Rajjak, Nagarkirtan. (Male) naina' - 'Badrinath Ki Dulhania' Best Production Design: Santhosh Raman, Take Off Best Playback Singer Meghna Mishra for Nachdi Best Sound Design and Best Recordist: Walking with the (Female) phira - Secret Superstar Wind Best Lyrics Amitabh Bhattacharya for Ullu Best Child Artist: Banita Das, Village Rockstars ka pattha - Jagga Jasoos Best Children’s Film: Mhorkya, Amar Bharat Deokar Lifetime Achievement Mala Sinha and Bappi Lahiri Best Non-Feature Films Director: Nagraj Manjule Award Best Debut Film of a director: Pampally, Sinjar Best Choreography Vijay Ganguly and Ruel 63rd Jio 2018 Dausan Varindani for Galti se mistake - Jagga Jasoos CATEGORY WINNER Best Background Score Pritam for Jagga Jasoos Best Film 'Hindi Medium' Best Action Tom Struthers for Tiger Zinda Hai Critics' Award for Best 'Newton' Film Best Cinematography Sirsha Ray for A Death In The Gunj Best Actor In A Leading for '' Role (Female) Best Editing Nitin Baid for Trapped Best Actor In A Leading for 'Hindi Medium' Best Production Design Parul Sondh for Daddy Role (Male) Critics' Award for Best Rajkummar Rao for 'Trapped' Best Sound Design Anish John for Trapped Actor (Male) Best Costume Rohit Chaturvedi for A Death Critics' Award for Best Zaira Wasim for 'Secret In The Gunj Actor (Female) Superstar' Best Director Ashwiny Iyer Tiwari for Vidarbha wins 2017 Ranji Trophy 'Bareilly Ki Barfi' DATE: 1st January, 2018 Best Debut Director Konkona Sensharma for 'A AGENDA/ ISSUE: To win Ranji Trophy Tournament Death in the Gunj' TARGET/ APPLICATION: Vidarbha cricket team won 2017 Best Actor In A Rajkummar Rao for 'Bareilly Ranji Trophy tournament. It is Vidarbha’s first Ranji Trophy title. Supporting Role (Male) Ki Barfi' Until 2017, Vidarbha had never won a single Ranji Trophy in the Best Actor in a Supporting Meher Vij for 'Secret Superstar' 84-year long history of the tournament. But come the first day Role (Female) of 2018, that record changed for good as Vidarbha won the title after beating Delhi by nine wickets at Indore’s Holkar stadium. Best Dialogue Hitesh Kewalya for 'Shubh Last year, it was Gujarat which won their maiden Ranji title Mangal Saavdhan' EBD_9075 2018-8 Current Affairs 2018 26th World Book Fair Amar Jawan Jyoti, who sacrificed their lives in the line of duty. The main event was held at Rajpath, New Delhi. President Ram DATE: 6th January, 2018 Nath Kovind hoisted the ‘Tiranga’. The National Anthem was AGENDA/ ISSUE: To increase the awareness of environment issues like climate change, global warming, and water pollution played with a 21-gun salute after the unfurling of the tricolour. TARGET/ APPLICATION: The 26th edition of annual It was followed by Republic Day parade, which was presided World Book Fair was held in New Delhi. It was organized by over by the President of India. India’s military might was on full National Book Trust (NBT), under Ministry of Human Resource display during the annual celebrations at Rajpath. Development in association with India Trade Promotion In a first, the Republic Day parade was attended by 10 heads Organisation. The theme for the year is ‘Environment and of state from ASEAN as chief guests. Tableau from different Climate Change’. It focuses on environment issues like climate states and departments were displayed along with performances change, global warming, and water pollution. European Union by artists/students exhibiting India’s diverse culture. was Guest of Honour country for this year’s book fair. Khelo India School Games Teen Murti Chowk renamed DATE: 31st January 2018 th DATE: 15 January 2018 AGENDA/ ISSUE: To provide a platform for budding AGENDA/ ISSUE: To recognize the contribution of Indian sportspersons to showcase their best talent. soldiers who martyred while fighting to protect Haifa. TARGET/ APPLICATION: Prime Minister Narendra Modi TARGET/ APPLICATION: Teen Murti Chowk in New Delhi renamed as Teen Murti-Haifa after Israeli city Haifa. The declared the first edition of the Khelo India School Games renaming ceremony was attended by Prime Minister Narendra (KISG) open, at the Indira Gandhi Indoor Stadium in New Delhi. Modi and Visiting Israeli PM Benjamin Netanyahu. PM gave emphasis on importance of sports in the lives of youth The renaming commemorates the contribution of Indian soldiers and sports as means of personality development. who died while fighting to defeat enemy Turkish forces in Haifa The KISG is being held across 16 disciplines in the U-17 a century ago. Teen Murti refers to the three bronze statues at the category and 5,000 school children from 29 states and 7 UTs Chowk or roundabout that represents the Hyderabad, Jodhpur are participating in the event. It will conclude on 8th Feb. 2018. and Mysore Lancers. The best talent selected through the competition will be amongst Gallantry Awards the 1000 budding athletes eligible for a scholarship worth 5 lakhs each per year for a period of 8 years. Every year, new DATE: 25th January 2018 athletes will be added under the Khelo India scheme. Thus, over AGENDA/ ISSUE: To honour heroes of the armed and Paramilitary forces of the country the period of the scheme, the country will have a solid bench- TARGET/ APPLICATION: President approved 390 gallantry strength for all sports. awards and other Defence decorations for the Armed Forces The games are being conducted at par with international level personnel and others on the 69th Republic Day. competitions so as to give the best experience to players and The awards include 1 Ashok Chakra, 1 Kirti Chakra, 14 Shaurya other stakeholders. The format of the game is providing an Chakras and 28 Param Vishisht Seva Medals among others. opportunity for the State/UTs to compete against each other. It Corporal Jyoti Prakash Nirala of Indian Air Force has been also provided a platform to showcase their best budding sporting conferred the Ashok Chakra posthumously. Corporal Nirala, a talent. Garud commando of the Air Force martyred fighting terrorists Anu Kumar of Uttarakhand grabbed the 1st gold medal of the in Bandipora of Jammu and Kashmir in November. Games, as Tamil Nadu won 2 of 6 gold medals on offer on the Kirti Chakra has been awarded to Major Vijayant Bisht of the Army, while Sergeant Milind Kishor Khairnar and Corporal first day of the athletics extravaganza. Nilesh Nayan have been posthumously conferred the Shaurya Chakra for their supreme sacrifice in fighting against terrorists. Government ends Haj subsidy DATE: 16th January, 2018 Republic Day Celebrations AGENDA/ ISSUE: The money saved to be used for education DATE: 26th January 2018 and welfare of girls from minority communities AGENDA/ ISSUE: To celebrate the commemoration of India TARGET/ APPLICATION: To empower minorities with as a sovereign democratic republic dignity, Union Minister for Minority Affairs Mukhtar Abbas Naqvi announced the decision of the Govt. about phasing out TARGET/ APPLICATION: The 69th Republic Day of India subsidies for the annual Haj pilgrimage. The Centre’s decision was celebrated across the country and worldwide. At the start of followed a 2012 Supreme Court order asking that subsidies for the ceremony, the Prime Minister paid homage to the soldiers at the Haj be phased out by 2022 and the money saved (around `450 Current Affairs 2018 2018-9 crore annually) be diverted to more welfare-oriented activities. The WEF index has also classified the countries into five sub- Haj subsidy will be used for educational empowerment and categories in terms of the five-year trend of their overall Inclusive welfare of girls from minority communities. The policy aims Development Growth score — receding, slowly receding, stable, at rationalising distribution of the Haj quota between the Haj slowly advancing and advancing. Committee of India and private tour operators in the ratio of 70:30 for the next five years. It also stresses on breaking the PNB’s $1.8 Billion Scam: Explained cartel of contractors with a transparent bidding process. DATE: 15th February, 2018 AGENDA/ISSUE: PNB, India’s second-largest government Bhasha Samman bank, reports on that $1.8 billion or over `11,000 crore of DATE: 2nd February 2018 taxpayers’ money had been illegally transferred abroad to select AGENDA/ ISSUE: To encourage writers & scholars in customers from a single branch in . The amount is ` languages not formally recognised by the Akademi. nearly 1/3rd of the bank’s total market capitalisation of 36,000 crore. It is also 8 times of bank’s fiscal year 2017 net profit of TARGET/APPLICATION: Magadhi (Magahi) Author Shesh `1,324 crore. With the sharp fall, investors have reportedly lost Anand Madhukar was honoured with Prestigious Sahitya `3,844 crore of wealth on a single day. Jeweller Nirav Modi Akademi Bhasha Samman. Mr. Madhukar has been working allegedly acquired fraudulent letters of undertaking from a PNB extensively for the development of this rich and old language. branch in Mumbai to secure overseas credit from other Indian In his long and illustrious career, he has a large body of lenders, while PNB did not name the other lenders, Union Bank work to his credit in both Magahi and Hindi. Some of his of India, Allahabad Bank and Axis Bank are reported to have important works in Hindi are “Magahi Kavita Ke Bimb”, offered credit based on letters of undertaking (LoUs) issued by “Eklavya”, and “Bhagwan Birsa”. PNB. Besides him, three other jewellers, Gitanjali, Ginni and Nakshatra are also under the interrogation with the CBI. Amendments to Companies Act Sovereign Gold Bond Scheme 2017-18 DATE: 7th January, 2018 th AGENDA/ ISSUE: To make insolvency process more effective DATE: 9 October, 2017 TARGET/ APPLICATION: The government notified AGENDA/ISSUE: To reduce demand for physical gold and amendments to the Companies Act 2013, aimed at making shift part of domestic savings the insolvency process more effective. The Companies TARGET/APPLICATION: The Union Government in (Amendments) Act 2017, which received Parliament’s nod collaboration with the Reserve Bank of India (RBI) has in the just-concluded winter session, have put restrictions on launched Sovereign Gold Bonds 2017-18 – Series-III. The managerial remuneration when a company has defaulted in its applications for bond will be accepted from October 09, 2017 dues. to December 27, 2017. The bonds will be sold through banks, Companies, which have defaulted on their dues to financial Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges namely the NSE and institutions, will now require the prior approval of these BSE. These bonds were launched under umbrella sovereign gold creditors, besides approval in a general meeting in case the bond scheme in November 2015 with an objective to reduce payment of managerial remuneration exceeds 11% of the net demand for physical gold and shift part of domestic savings, profits. Earlier, only the company’s prior approval in a general used for purchase of gold, into financial savings. It also aims to meeting was required. ease pressure on the country’s trade balance as India’s imports are dominated by crude oil and gold by converting gold into a India at 62nd place on Inclusive productive asset. Development Index The bonds are denominated in units of one gram of gold and DATE: 22nd January, 2018 multiples thereof. AGENDA/ ISSUE: World Economic Forum (WEF) ranks India at the 62nd place among emerging economies on an Inclusive SAATHI Programme Development Index, much below China’s 26th position and DATE: 25th October, 2017 Pakistan’s 47th. India was ranked 60th among 79 developing AGENDA/ISSUE: To help the growth of small and medium economies last year, as against China’s 15th and Pakistan’s 52nd textile business by providing latest technology-based textile position. equipment. The index takes into account the “living standards, environmental TARGET/APPLICATION: The Ministry of Power along with sustainability and protection of future generations from further the Ministry of Textiles has launched its new initiative called indebtedness. SAATHI (Sustainable and Accelerated Adoption of efficient The 2018 index, which measures progress of 103 economies on Textile Technologies to help small industries). The powerloom three individual pillars i.e. growth and development; inclusion; sector in India is predominantly an unorganized sector and has and inter-generational equity. a large number of micro and small units which produce 57 per EBD_9075 2018-10 Current Affairs 2018 cent of the total cloth in the country. Most of Powerloom units National Trade Facilitation Action Plan in India use obsolete technology. Upgradation of powerlooms as part of Power Tex India will lead to higher productivity, better DATE: 21st July, 2017 quality and more than 50 per cent additional value realization. AGENDA/ISSUE: To improve the ease of doing business by Under the programme, Energy Efficiency Services Limited reducing cargo release time, cost etc. (EESL), a public sector entity under the administrative control of TARGET/APPLICATION: The Government released 76 Ministry of Power, would procure energy efficient powerlooms, point National Trade Facilitation Action Plan (NTFAP). motors and repair kits in bulk and provide them to the small Activities listed in the Action Plan: All actions falling under the and medium powerloom units at no upfront cost. The SAATHI plan have been categorised by prioritising the activities into short initiative of the Government will be jointly implemented by term, mid-term and long-term activities. It covers many activities EESL and the office of the Textile Commissioner on a pan-India in the areas of infrastructure augmentation, particularly the road basis. and rail infrastructures leading to ports, airports, land customs Unilateral Advance Pricing Agreements stations, ICDs that cut across all stakeholders for which various ministries like civil aviation, shipping, railways, home affairs, DATE: 3rd November, 2017 road transport, finance, commerce etc. have been assigned with AGENDA/ISSUE: To provide an alternate dispute resolution specified targets. mechanism with respect to transfer pricing TARGET/APPLICATION: The Central Board of Direct Taxes Codex Standards Adopts CAC for three (CBDT) has signed seven unilateral advance pricing agreements (APAs) in October 2017. Total number of APAs entered into Indian Spices by CBDT now stands at 184. This includes 171 unilateral and DATE: 27th July, 2017 12 bilateral APAs. In current financial year, total of 32 APAs (2 AGENDA/ISSUE: To help evolve a common standardisation bilateral and 30 unilateral) were signed till date. The APAs signed process for global trade in October 2017 belonged to various sectors including FMCG, TARGET/APPLICATION: The Codex Alimentarius information technology, semi-conductor, travel and leisure, Commission (CAC) has adopted three Codex standards for office furniture and engineering. The international transactions black, white and green pepper, cumin and thyme. It is for first covered in these APAs include provision of IT-enabled services time pepper, cumin and thyme spices will have such universal (ITES), software development services, marketing support standards. These standards were adopted at 40th session of CAC services, engineering design services, payment of interest, trading and import of components. held in Geneva. With the approval of the Central government, the Spices Board of India (SBI) had submitted a proposal to CAC The APA Scheme was unveiled by the Government in 2012 to for harmonizing the standards for spices and culinary herbs. SBI give tax certainty to MNCs that agree on certain principles in valuation of their cross-border transactions. is the flagship organization of the Commerce Ministry for export and promotion of spices from the country. Concerns with FRDI Bill ‘She Means Business’ Programme DATE: 10th December, 2017 DATE: 12th August, 2017 AGENDA/ISSUE: People’s money being used to bail out banks that made bad lending decisions. AGENDA/ISSUE: To reduce the digital divide and empower The Financial Resolution and Deposit Insurance (FRDI) Bill nearly 25,000 women entrepreneurs and SHGs. has raised many concerns with Bank unions and depositors. It TARGET/APPLICATION: Odisha government has launched aims to limit the fallout of the failure of institutions like banks, ‘She Means Business’ programme of Facebook for women insurance companies, non-banking financial companies, pension entrepreneurs. Under this scheme, around 25,000 women funds and stock exchanges. The FRDI Bill is aimed at insuring entrepreneurs and self help group (SHG) members will be the money of a bank’s depositors in the case of an eventuality given training on digital marketing skills within a year. Women where the bank would have to be liquidated. The FRDI Bill is entrepreneurs will get hands-on training on digital marketing free currently pending before a Standing Committee of Parliament. of cost and they need not create their websites to promote their The Committee will submit its report in the upcoming winter business. The platform will also facilitate vertical integration. session of Parliament. It has been criticised that people’s money was being used to bail out banks that made bad lending decisions. Creation of Asia Africa Growth Corridor It is also apprehended to be compromising on the interests of the depositors. DATE: 23 September, 2017 The bill aims at setting up of a Resolution Corporation. The AGENDA/ISSUE: To boost trade and economic development direction and management of the corporation is subject to the between India and Africa. terms and conditions of the Act. TARGET/APPLICATION: Prime Minister Narendra Modi Topicwise Solved Papers For IBPS/ SBI Bank PO/ Clerk Prelim & Main Exam (2010-18) Banking/ Economy/ General Awareness

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Publisher : Disha Publication ISBN : 9789387045316 Author : Disha Publication

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